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And They're Off: ES Down 31, DJIA Futs Down 274, Gold Surges To New Record $1692

Tyler Durden's picture


The first prints are in: ES down 31, DJIA down 274, and gold, natural, welcomes our new centrally planned overlords by hitting an all time high of $1692.




Print 2 - Brian Sack enters stage left to protect Friday lows.



Print 3: Exit Brian Sack stage right


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Sun, 08/07/2011 - 18:08 | 1534116 Motley Fool
Motley Fool's picture

lol, Lovely welcome.

Sun, 08/07/2011 - 18:24 | 1534192 DoChenRollingBearing
DoChenRollingBearing's picture

One of my blog readers just contributed this source, check it out:  Thx!

Sun, 08/07/2011 - 18:28 | 1534212 cossack55
cossack55's picture

Lovely. Thx.

Sun, 08/07/2011 - 18:35 | 1534247 DoChenRollingBearing
DoChenRollingBearing's picture

Snidley (downthread) just contributed this one:


Sun, 08/07/2011 - 18:42 | 1534275 Snidley Whipsnae
Snidley Whipsnae's picture

You're welcome... If you click on the commidity of interest you can spread out the chart.

Here is another showing the same plus many more crosses, commodities, etc...

Sun, 08/07/2011 - 18:49 | 1534315 duo
duo's picture

the 15 minute delay on futures isn't that great, though.

Sun, 08/07/2011 - 18:59 | 1534349 Snidley Whipsnae
Snidley Whipsnae's picture

It's fine for me cause I don't trade paper... and, I have been into PMs since 1968... what the hell is 15 minutes to me? lol

Sun, 08/07/2011 - 19:01 | 1534363 Hugh G Rection
Sun, 08/07/2011 - 19:37 | 1534523 waylon153
waylon153's picture

Anyone know the historical ratio/spread b/t gold and platinum?   Reason, Gold spot is at 1683 and Plat spot at 1719.  Or is that Plat a different measurement? Or maybe Plat futures are not trading now 18:34 Central time?

All things being equal it would appear Plat is (under)valued relative to Gold.  Or am I missing something?

Sun, 08/07/2011 - 21:20 | 1534753 Jasper M
Jasper M's picture

Think of it like stcks: Gold is the "Blue Chip", silver & platinum the newly fashionable growth stocks. When tims get scary, people run towards the safer one. 

Don't fall into the trap of assuming a unifom price rise. This isn't that kind of environment. With a depression gutting industrial demand, those dependin on such for a significant amount of sales (e.g., Ag & P) will lag. 

Sun, 08/07/2011 - 18:08 | 1534117 TradingJoe
TradingJoe's picture

Piper is demanding PAYMENT!!!

Sun, 08/07/2011 - 18:19 | 1534163 Quixotic_Not
Quixotic_Not's picture
If we are to survive the looming catastrophe, we need to face the truth The idea that a capitalist economy can support a socialist welfare state is collapsing before our eyes, says Janet Daley.

Hahaha...looks like even the brits are waking from their koolaid induced comas!

Sun, 08/07/2011 - 18:26 | 1534202 Sean7k
Sean7k's picture

As if you can have separate entities like that in the first place. If the writer is that ignorant, woe to the common man. 

Sun, 08/07/2011 - 18:34 | 1534243 nmewn
nmewn's picture

Poor Janet.

She's still living in the goose laying the golden egg world. The goose is hanging upside down dead in the fascists butcher shop.

I'm thinkin more subzidation of cronies is in order here ;-)

Sun, 08/07/2011 - 19:32 | 1534500 darkstar7646
darkstar7646's picture

You can't separate them at all.

Commerce goes full-stop in this country if the welfare class is not kept quiet.  Sorry, but that's reality. 

Don't like it?  Start shooting -- yesterday.

Sun, 08/07/2011 - 23:20 | 1535252 prole
prole's picture

As long as you can convince us that "reality=nonsense" then we believe your "reality."

Nobody cares what sob-sister socialists say on a web-board, Sorry, but that's reality.


Sun, 08/07/2011 - 18:09 | 1534118 unky
unky's picture

the defence line stands at $1700

Sun, 08/07/2011 - 18:19 | 1534167 Long-John-Silver
Long-John-Silver's picture

and it's off to the moon at $1764.

Sun, 08/07/2011 - 18:22 | 1534184 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Bernanke and the cartrel will move to sell it off soon.  Like silver a few months ago.  He will loan gold to leverage QE 3, so he will do it right before.

Sun, 08/07/2011 - 18:33 | 1534238 DoChenRollingBearing
DoChenRollingBearing's picture

Bernanke!  Loan your gold to me!  Limited time offer!

Sun, 08/07/2011 - 18:45 | 1534286 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Er...sorry, I meant Bernanke's Tungsten.

Sun, 08/07/2011 - 18:32 | 1534225 unky
unky's picture

exactly, thats why they try so hard to defend $1700, because when it clears that level we can see $1764 quickly. But judging by the action in the silver market the EE is still in control.

Sun, 08/07/2011 - 18:58 | 1534342 Spitzer
Spitzer's picture

or maybe FOFOA was right about silver....Gold is the real thing, silver is not.

Sun, 08/07/2011 - 19:05 | 1534377 cosmictrainwreck
cosmictrainwreck's picture

the buzz in certain quarters is silver out-perfomed in past - had it's "turn". Going forward Au outperforms

Sun, 08/07/2011 - 19:35 | 1534514 Smiddywesson
Smiddywesson's picture

I don't know, silver should do real well. However, all the players in the know, all of them, are stacking gold.

Sun, 08/07/2011 - 21:47 | 1534880 DoChenRollingBearing
DoChenRollingBearing's picture

Spitzer, Smiddy,

You both know that it is mostly gold for me.  I do have small positions in the other PMs, but gold is by far the bulk.

Sun, 08/07/2011 - 18:19 | 1534168 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Gold is mirroring silver's recent run up.  At what price does Bernanke reloan his tonnes at, because that should send the price down.  Does he do it righht before he announces QE 3?  I bet so.

Sun, 08/07/2011 - 18:24 | 1534193 HungrySeagull
HungrySeagull's picture

I've seen this play out many times.

Silver will be silver. It might run through your fingers like... quicksilver if you are not fast enough.

Sun, 08/07/2011 - 18:26 | 1534203 FeralSerf
FeralSerf's picture

Helicopters dropping green reinforcements behind the lines.

Sun, 08/07/2011 - 18:09 | 1534119 WestVillageIdiot
WestVillageIdiot's picture

I have seen this so many times before.  I go to bed and the futures are blood red.  I wake up before the roosters and the damn things are green.  How are they going to accomplish this tonight?

Trading this market is going to rip the limbs off of a lot of people.  The problem with being a bear is that you have to time it right or you end up wandering through the woods trying to locate your testicles. 

Sun, 08/07/2011 - 18:12 | 1534138 JW n FL
JW n FL's picture

Bro! put some monster boxes within reach.. next to lagre caliber fire arms.. and you will be fine.. you should not be swiming when the rip currents are this strong any way.. kick back and enjoy a few days rest and back test some new, new, new normal stuff. Hire a new C++ guy.. take the kids to rollercoasters! just enjoy the forced vaca!

Sun, 08/07/2011 - 18:19 | 1534165 WestVillageIdiot
WestVillageIdiot's picture

The futures finally updated on CNN's finance site.

Dow  -287

NASDAQ  -54.75

S&P 500  -31.7

That deserves a Mister Yuck label like we used to have in the '70s. 

Sun, 08/07/2011 - 21:30 | 1534802 StychoKiller
Sun, 08/07/2011 - 19:40 | 1534530 Smiddywesson
Smiddywesson's picture

Absolutely JW, physical gold and silver is a very tranquil trade. Fed just raided your profits?  Just wait a week or two and the trend continues.

Sun, 08/07/2011 - 18:16 | 1534158 IMA5U
IMA5U's picture

and the kommunists will do their best to rip ur balls off to make da bears extinct


here's a piece of advice: just don't get too greedy if you are making $ as a bear

Sun, 08/07/2011 - 18:09 | 1534120 MrJingles
MrJingles's picture

Flight control I can't hold it.....she's breaking up, she's breaking.........BOOM!

Sun, 08/07/2011 - 18:13 | 1534147 WestVillageIdiot
WestVillageIdiot's picture

Your orders are to NOT break radio silence. 

Sun, 08/07/2011 - 19:22 | 1534456 HellFish
HellFish's picture

HA - Steve Autin, a man barely alive...

Sun, 08/07/2011 - 18:09 | 1534121 slaughterer
slaughterer's picture

Was soll dass?  Gold is schon 1687?  Warm geht es nicht ueber 1700?

Sun, 08/07/2011 - 18:14 | 1534150 WestVillageIdiot
WestVillageIdiot's picture

I hate when people write posts in Ebonics. 

Sun, 08/07/2011 - 18:20 | 1534172 PY-129-20
PY-129-20's picture

Abwarten und Tee trinken. :) - 1776 -

Sun, 08/07/2011 - 18:21 | 1534177 Hulk
Hulk's picture

Fragen sie mir ich weiss nicht!!!

Warum werde ich nicht satt???

Sun, 08/07/2011 - 18:27 | 1534204 RockyRacoon
RockyRacoon's picture

Goen effin einself!

Well, I think you got the idea.

My Gerbonics is bad.

Sun, 08/07/2011 - 18:39 | 1534259 DoChenRollingBearing
DoChenRollingBearing's picture


A new word!

Sun, 08/07/2011 - 18:40 | 1534262 Hulk
Hulk's picture

LOL, the first line is actually an old inside joke amongst a small group. Its piss poor German, but we meant it to mean "ask me a question for I do not know" Wasted youth as it were...

Sun, 08/07/2011 - 18:59 | 1534356 TradingJoe
TradingJoe's picture

Immer mit der Ruhe Schlachtmeister!

Sun, 08/07/2011 - 19:48 | 1534570 NuckingFuts
NuckingFuts's picture

Ich bin ein ZHer! Der bitchez!

Sun, 08/07/2011 - 18:09 | 1534124 lolmao500
lolmao500's picture

And when Bernanke announces QE3 tuesday, it's gonna be even more epic.

Sun, 08/07/2011 - 18:16 | 1534159 WestVillageIdiot
WestVillageIdiot's picture

Regardless of what precipitated the S&P downgrade, isn't it the first time any real action has been taken against the money printing? 

I think the stock market has priced in QE3, having experienced QE2.  How else can you explain NFLX, PCLN, CMG, LULU, PCLN, etc.?  The only problem is that it is now clear that Bernanke's Printing Club may have to pay a penalty for future runs on ye olde Heidelberg. 

Sun, 08/07/2011 - 19:11 | 1534401 BlackChicken
BlackChicken's picture

We should seek wisdom from our new resident troll/whore/shill for an answer.

To wit:

by MillionDollarBonus_
on Sun, 08/07/2011 - 16:35

I personally will be buying the dip in long-term bonds. Obama is a strong and courageous leader who knows how to inspire confindence. Congress has demonstrated great courage with their bipartisian compromise, which bodes well for the future.

Sun, 08/07/2011 - 18:10 | 1534125 caerus
caerus's picture

long booze and red bull

Sun, 08/07/2011 - 18:12 | 1534137 HITMAN56
HITMAN56's picture

2x long SBUX and 2x long spainsh vino

Sun, 08/07/2011 - 18:13 | 1534144 JohnG
JohnG's picture

Case of Four Loco in the fridge for me...

Sun, 08/07/2011 - 18:21 | 1534180 WestVillageIdiot
WestVillageIdiot's picture

Red Bull + vodka + Jager Meister = A morning of vomiting, intense pain, shame, regret and possibly an STD

But it's worth it, unlike this disaster. 

Sun, 08/07/2011 - 18:24 | 1534191 caerus
caerus's picture

im in

Sun, 08/07/2011 - 18:27 | 1534210 DoChenRollingBearing
DoChenRollingBearing's picture

Rye whiskey, 90 proof, glass of water as my wing-man!

Sun, 08/07/2011 - 18:36 | 1534249 Ahmeexnal
Ahmeexnal's picture

Mezcal and ladies.

Sun, 08/07/2011 - 18:09 | 1534126 JW n FL
JW n FL's picture


got ammo?

got food (dry goods)?

got gold?

got silver? (clean water is more important than people remember?

they can test the markets for weakness to spread the banking blanket of lies.. but if they let their ego's get to far out there the whole thing could come down on our heads!


Sun, 08/07/2011 - 18:23 | 1534187 WestVillageIdiot
WestVillageIdiot's picture

No porn or whiskey?  With your plan the living will envy the dead. 

Sun, 08/07/2011 - 18:30 | 1534215 RockyRacoon
RockyRacoon's picture

Porn?  Nope, got the real thing.

Whiskey?  Nope, gotta keep a clear head.

As for JW's list:  check, check, check, and double check.

Sun, 08/07/2011 - 18:30 | 1534219 JohnG
JohnG's picture

Tobacco and weed to sell for silver......How much for the women?

Sun, 08/07/2011 - 18:30 | 1534221 JW n FL
JW n FL's picture

well, you are welcome on the boat.. but I am not married and your wife might not like you running around on a boat full of professional entertainment.

I am trying to keep you out of divorce court! half is a LOT!

Sun, 08/07/2011 - 18:32 | 1534232 cossack55
cossack55's picture

Man, I thought those items go without sayin'.

Sun, 08/07/2011 - 19:03 | 1534369 JW n FL
JW n FL's picture

for the new people!

all of you are welcome on the boat..


Sun, 08/07/2011 - 18:09 | 1534127 Hearst
Hearst's picture

Big spike up in both Gold and Silver and an immediate push back down.  'They' are all over both metals.  Can they keep them down???



Sun, 08/07/2011 - 18:29 | 1534216 WestVillageIdiot
WestVillageIdiot's picture

The .10 ounce gold eagles currently have an ask of $200 on Nucleo Exchange.  I believe that is a first. 

Sun, 08/07/2011 - 18:10 | 1534129 Jason T
Jason T's picture

China the safe haven?  How is it not??

Sun, 08/07/2011 - 19:34 | 1534508 darkstar7646
darkstar7646's picture

It would be about the last one.  RMB the new reserve currency?

Sun, 08/07/2011 - 18:11 | 1534132 RobotTrader
RobotTrader's picture

Dow futures would probably be down by over 500 without the ECB jawboning.

Sun, 08/07/2011 - 18:21 | 1534178 maxmad
maxmad's picture

we will get there... No QE3 and the PPT is oughta bullets!

Sun, 08/07/2011 - 19:35 | 1534515 darkstar7646
darkstar7646's picture

QE3 starts tonight, or this market circuit-breakers tomorrow.

I'd be so out of this market right now (if you're short, you might get your face ripped off if they start QE3 -- if you're long anything, you're an idiot!), it's not even funny.

Sun, 08/07/2011 - 18:11 | 1534133 WestVillageIdiot
WestVillageIdiot's picture

Gold up $22.65

Silver down $.03

The premiums on gold at bulliondirect have not come down.  It is still $72 on a 1 ounce bar. 

Sun, 08/07/2011 - 18:22 | 1534175 Doña K
Doña K's picture

See my prediction earlier today.

#1533111 on second page

It looks like it will work.

Sun, 08/07/2011 - 18:11 | 1534134 Ghoaster
Ghoaster's picture

Whew! That was a close one...

Sun, 08/07/2011 - 18:11 | 1534135 slaughterer
slaughterer's picture

Was soll dass?  Silber is fast ROT!!!!

Sun, 08/07/2011 - 19:02 | 1534367 TradingJoe
TradingJoe's picture

Es wird nachgeladen Schwachkopf!

Sun, 08/07/2011 - 18:11 | 1534136 Zone1
Zone1's picture


Sun, 08/07/2011 - 18:12 | 1534141 Implicit simplicit
Implicit simplicit's picture

Mr. Hanky has walked directly into the fan

Sun, 08/07/2011 - 18:13 | 1534142 Ganja Jane
Ganja Jane's picture

Is that a bank holiday I see coming around the corner???

Sun, 08/07/2011 - 18:14 | 1534149 CrankItTo11
CrankItTo11's picture

That's what I'm worried about. Still haven't hit up the ATM. Was thinking of waiting until morning, but maybe it'd be best to get there tonight.

Sun, 08/07/2011 - 18:20 | 1534171 hedgeless_horseman
hedgeless_horseman's picture

Especially if your bank is Bank of Americountrywidelynch.

Sun, 08/07/2011 - 18:25 | 1534195 CrankItTo11
CrankItTo11's picture

Wells Fargo

Sun, 08/07/2011 - 18:32 | 1534227 JohnG
JohnG's picture

One of those got robbed around here on Fri, big take from what I understand.

Sun, 08/07/2011 - 19:02 | 1534364 Urban Roman
Urban Roman's picture

What, the horsey wagon couldn't catch the robbers' Pontiac?

Sun, 08/07/2011 - 19:03 | 1534370 Ganja Jane
Ganja Jane's picture

That and make sure your pantry and fridge are stocked!

Sun, 08/07/2011 - 18:13 | 1534145 JPM Hater001
JPM Hater001's picture

Wait! I haven't finished properly securing my hands to my ankles!!!! Hang on to something tight anyway. This might be an all-nighter. Remember, there is probably 10X's as much money watching for the right move. If this thing gets a head of steam on we may be looking at another Tele Viv.
"Tel Aviv Stock Exchange plunges on U.S. credit downgrade

August 7, 2011

JERUSALEM (JTA) -- The Tel Aviv Stock Market experienced its largest one-day loss in nearly three years in reaction to the downgrade of the U.S. credit rating.

The exchange's TA-25 benchmark index of 25 stocks fell 7 percent on Sunday to 1,074.27 -- the biggest drop since November 2008 at the beginning of the global economic crisis -- despite a delayed opening by nearly an hour to allow traders to react to the news on the U.S. downgrade without pressure.

Standard & Poor's on Aug. 5 downgraded the U.S. credit rating from AAA, the top designation it had held since 1941, to AA+. The downgrade is likely to result in steeper interest costs on U.S. government bonds, eventually leading to less disposable income.

Analysts reportedly believe that Saturday night's massive protests throughout Israel against the high cost of living also contributed to the plunge, Haaretz reported.

Since the Tel Aviv Stock Exchange operates Sunday through Thursday, it was one of the first stock exchanges worldwide to react to the U.S. credit rating downgrade. "

Sun, 08/07/2011 - 18:14 | 1534151 Uncle Remus
Uncle Remus's picture

Scotty, now would be a good time...

Sun, 08/07/2011 - 18:32 | 1534206 akak
akak's picture

"Captain, I canna change the laws of economics!"

"The algos are buckling Captain!  They canna take much more of this!"


Sun, 08/07/2011 - 18:15 | 1534152 Short_phlogiston
Short_phlogiston's picture

reminds of a joke that starts off "how many PhDs does it take to rig a market?"

Sun, 08/07/2011 - 18:14 | 1534153 IMA5U
IMA5U's picture

this is too obvious.  expect the unexpected

Sun, 08/07/2011 - 18:12 | 1534154 navy62802
navy62802's picture

I predict the breakers will activate at about 0931 tomorrow morning.

Sun, 08/07/2011 - 18:18 | 1534161 JW n FL
JW n FL's picture

we need an over under and a pool for the exact minute!

Sun, 08/07/2011 - 19:38 | 1534529 darkstar7646
darkstar7646's picture

If we breaker, we breaker on the open.  Probably about 9:35.

With two major indices in the world already down about 6-7%, it's not infeasible.  The real question is going to be Asia and Europe.  If they continue this rout, QE3 happens tonight.

Sun, 08/07/2011 - 18:16 | 1534155 Quixotic_Not
Quixotic_Not's picture

It's not just you! looks down from here.

Check another site?

Sun, 08/07/2011 - 18:16 | 1534156 JohnG
JohnG's picture

High print 1697.70 gold, well over 5000 contracts traded in first 5 minutes wow.

Sun, 08/07/2011 - 18:17 | 1534157 Yen Cross
Yen Cross's picture

Why does AUD sell off on XAU spikes?  I thought it was a commodity currency?<

Sun, 08/07/2011 - 18:17 | 1534160 JW n FL
Sun, 08/07/2011 - 18:18 | 1534162 Vaga222
Vaga222's picture

Doesn't look like AU can break throuhg 1690 for very long before there is some high volume selling. I think 1690 might be the top until we get some more news tomorrow.

Sun, 08/07/2011 - 18:18 | 1534164 omer10
omer10's picture

you guys are overdramatising , 15% decline is nothing for stocks, if you cant handle it you should not be buying, which i guess you are not doing anyways. Insiders knew the SP downgrade on Friday, they will shake a little bit more, and stabilize. This is how it should have been working before, if not for QE2.

Sun, 08/07/2011 - 18:20 | 1534173 Ben Probanke
Ben Probanke's picture


Sun, 08/07/2011 - 18:19 | 1534170 nmewn
Sun, 08/07/2011 - 18:23 | 1534185 Yen Cross
Yen Cross's picture

  I'm earning 1% on 10 BIG moves!  @ least it's paid Daily!

Sun, 08/07/2011 - 18:20 | 1534174 Yen Cross
Yen Cross's picture

 Technical/fundamental indicators!   Wall Street has gone Flash Mob!

Sun, 08/07/2011 - 18:23 | 1534186 slaughterer
slaughterer's picture

Sorry, we have not yet cracked 1165.50.  WE ARE STILL INSIDE FRIDAY'S TRADING RANGE !!! HA HA HA HA!!  RISK ON!!!!!!!  

Sun, 08/07/2011 - 18:59 | 1534355 d00daa
d00daa's picture

hahahahahahaha please tell me you're a buyer here.

Sun, 08/07/2011 - 22:12 | 1534978 snowball777
snowball777's picture

This, ladies and gents, is why some people should not use cocaine.

Sun, 08/07/2011 - 18:23 | 1534188 sitenine
sitenine's picture

I see the fun has already started.  Excellent!


Thank you ZH for the front row seats!

Sun, 08/07/2011 - 18:24 | 1534189 FunkyOldGeezer
FunkyOldGeezer's picture

Trading the markets on a 1 minute chart (or even a 30 second chart) is just about the only way to do it, when volatility is all over the place. I've tried five second and ten second before now, but they just go everywhere too fast for my liking.

Oh yeah... and don't stick to the standard settings for anything like MACD, RSI, Stochastics. Larger Fibonacci numbers are your friend, IMO.

Sun, 08/07/2011 - 18:24 | 1534190 slaughterer
slaughterer's picture


Sun, 08/07/2011 - 18:27 | 1534207 Bear
Bear's picture

CNBC ... this is good news now that the downgrade is behind us

Sun, 08/07/2011 - 18:30 | 1534231 navy62802
navy62802's picture

Hey ... only downgraded to AA+. All those who jumped ship on Thursday were probably expecting worse? Don't worry though, it's all priced in. The only question mark is how the market is going to react to the news that Timmy is staying on as Treasury Secretary.

Sun, 08/07/2011 - 18:25 | 1534197 Bear
Bear's picture

Gold up 1.56% ... ES down 2.38%

Sun, 08/07/2011 - 18:26 | 1534201 slaughterer
slaughterer's picture


Sun, 08/07/2011 - 18:29 | 1534213 Bear
Bear's picture

Haven't seen Leo around for a few days

Sun, 08/07/2011 - 19:38 | 1534418 akak
akak's picture

Count your blessings --- and leo's losses on eurobonds.

Schadenfreude: it's not just for lunch with leo anymore!

Sun, 08/07/2011 - 21:52 | 1534904 DoChenRollingBearing
DoChenRollingBearing's picture

Ha ha!

Mon, 08/08/2011 - 22:48 | 1540722 akak
akak's picture

As of Sunday, August 7, 2011, leo kolivakis is no longer associated with ZeroHedge --- Tyler told me that in a personal email response.

Sun, 08/07/2011 - 18:31 | 1534222 Spastica Rex
Spastica Rex's picture

Shout, that will help.

Sun, 08/07/2011 - 18:39 | 1534260 Uncle Remus
Uncle Remus's picture

Shouting, the universal translator.

Sun, 08/07/2011 - 18:26 | 1534205 Snidley Whipsnae
Snidley Whipsnae's picture

Furious action ...

$1692.60 with a spike around $1697 ~

Interesting times

Sun, 08/07/2011 - 18:32 | 1534230 DoChenRollingBearing
DoChenRollingBearing's picture

+ $1690

Another great tool Snidley, thanks for sharing it.

Sun, 08/07/2011 - 18:50 | 1534320 Snidley Whipsnae
Snidley Whipsnae's picture

A pleasure... Here is another that has the same data plus many more commodities and currency crosses.

Hoover curser over item of interest to see candle trading, click on item of interest to see expanded chart.

I also posted this link upthread...

Sun, 08/07/2011 - 18:27 | 1534208 monopoly
monopoly's picture

Trading, not even thinking about it. That is nuts. Our physical is good, guess miners will get hit again tomorrow on margin calls for crap stocks. This is just getting started guys, just getting started.

Sun, 08/07/2011 - 18:31 | 1534223 Racer
Racer's picture

PPT will be out tonight

Sun, 08/07/2011 - 18:34 | 1534240 4realmoney
4realmoney's picture

I just checked Gold Shark and gold American Eagles from APMEX are more than $100 over spot.

Sun, 08/07/2011 - 18:36 | 1534248 PingaYourFace
PingaYourFace's picture

CME Margin Hikes to 'protect us' in 3 ... 2 ... 1 ...

Sun, 08/07/2011 - 18:37 | 1534252 SmoothCoolSmoke
SmoothCoolSmoke's picture

2500 TZA and 50 DIA Sept puts.  Come to poppa.

Sun, 08/07/2011 - 18:40 | 1534265 omer10
omer10's picture


Sun, 08/07/2011 - 18:46 | 1534298 monopoly
monopoly's picture

omer; a good dealer quotes the spot price, you agree they lock it in and I pay about 5% over spot. Does not matter if gold is down 100 or up 100. Any dealer that plays that game should be avoided. Hope that helps.

Sun, 08/07/2011 - 18:41 | 1534270 monopoly
monopoly's picture

A reputable dealer will not increase the premiums. You lock in the spot price same premium. Many do try to take advantage though. Ahh, America.

Sun, 08/07/2011 - 18:43 | 1534279 HyperLazy
HyperLazy's picture

Been on a self imposed protracted exile from the markets. Jumped back in Thursday mid morning on some generic positions and made an 11% gain. Still holding 'em, expecting exceptional goofiness Monday morning.

Been looking at DRV for a long long time, wondering if it is a bus just leaving the station and if its worth the long ride. Lots of pros and cons to it. Mixed emotions, conflicted logic and some drastic conclusions if it goes either way. Anyone else scrutinized this bad boy?

Sun, 08/07/2011 - 18:46 | 1534291 Re-Discovery
Re-Discovery's picture

No PPT tonight.  Only works on the margins.  If they do it on this kind of day they must see the whites of their eyes before they shoot.

(Night is young, but first moves aren't 'riot in the streets' . . . yet)

Sun, 08/07/2011 - 18:47 | 1534309 sunnydays
sunnydays's picture

DOW - DOWN 309 NOW and dropping by the second.

Sun, 08/07/2011 - 18:51 | 1534322 gwar5
gwar5's picture


Tax cheat, Timothy Geithner: "It's the S&P that doesn't understand math."


Spring 2009, Geithner's economic plan is laughed off the stage at the University of Beijing by Chinese economic students.

Summer 2009, Joseph Stiglitz says privately US unemployment will be 10% for years to come.

Summer 2009, Larry Summers privately echos Stiglitz on US long term high unemployment and poor economy.

Spring 2011, all of Obama's economic advisors are gone except for Geithner.

April 2011, Geithner says there is no danger of US downgrade. None.

Sun, 08/07/2011 - 18:59 | 1534351 MoneyWise
MoneyWise's picture

It all will change by Morning. Ironically Aussie Dollar is
going down against USD. Hey and by the Way Dollar going
back up against Swissy as well. Wait till Shit settles down
I have a feeling that GOLD will drop from this high later on,
as profit going to be taken to meet margin calls.

Sun, 08/07/2011 - 19:08 | 1534388 Snidley Whipsnae
Snidley Whipsnae's picture

Did it occur to your crystal ball that the Aussies might be intervening in their currency?

Same for the Swissy... In fact, they have been intervening for months... where have you been?

'I have a feeling gold will drop'... lol 

I have a feeling that you need a new crystal ball... troll

...and here is a fact, not a feeling... DJ futures down 280...

Sun, 08/07/2011 - 20:08 | 1534605 MoneyWise
MoneyWise's picture

We'll talk tomorrow, troll, ok? Those movements now are irrelevant. So far Dollar has been rising. DJ movement will depend on how massively ECB will intervene and buy Italian bonds. DOW could finish up green tomorrow. Nothing goes in one direction all the time.

Sun, 08/07/2011 - 19:04 | 1534373 omer10
omer10's picture

Thanks monopoly, I wondered how it is over there, here in Turkey there is a daily quote-i guess official-it is about 2% between buy sell, everwhere. we have the 2nd biggest phycial market in the world after India as far as i know.

Sun, 08/07/2011 - 19:11 | 1534400 Snidley Whipsnae
Snidley Whipsnae's picture

Omer 10... do you have a link to your quote-i? Thanks

Here is a link to Finviz... 

and an abreviated version

Sun, 08/07/2011 - 19:11 | 1534381 caerus
caerus's picture

jim rogers on cnbcw -  "i told you so fuckers"  well thats what he should say anyway

Sun, 08/07/2011 - 21:01 | 1534657 Jena
Jena's picture

Jim Rogers has been warning of this for a long time.

Has Obama made any sort of statement yet?  Seems like it would have been a Presidential sort of thing to do...

Sun, 08/07/2011 - 19:08 | 1534392 slaughterer
slaughterer's picture

We are going long ES mini futures "balls to the wall" right now ZH boys.    See you in the Seychelles.  

Sun, 08/07/2011 - 19:13 | 1534409 hunglow
hunglow's picture

Can you bend over then pull them down to your ankles.  I wasn't asking.

Sun, 08/07/2011 - 19:14 | 1534412 Temporalist
Temporalist's picture

Jim Rogers is on CNBS World talking about debt, S&P rating, why it wasn't more...Gold convo upcoming.

Sun, 08/07/2011 - 19:16 | 1534423 caerus
caerus's picture

said u.s. is "bankrupt"

Sun, 08/07/2011 - 19:21 | 1534451 Boilermaker
Boilermaker's picture

And...OF COURSE, you can literally see the attempt to 'walk up' the futures with relentless buying pressure.

Unfucking real.  They are going to try it tonight?  We'll be -11 on the DOW by the open.

Sun, 08/07/2011 - 21:53 | 1534913 Founders Keeper
Founders Keeper's picture

[And...OF COURSE, you can literally see the attempt to 'walk up' the futures...]---Boilermaker

Easy, Boilermaker.  The next crushing collapse is on the way.


Sun, 08/07/2011 - 19:26 | 1534480 jomama
jomama's picture

zomg back to the old format?  i'm getting all nostalgic n shit.

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