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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Motley Fool's picture

lol, Lovely welcome.

DoChenRollingBearing's picture

Snidley (downthread) just contributed this one:


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...

duo's picture

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

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

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?

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. 

TradingJoe's picture

Piper is demanding PAYMENT!!!

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!

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. 

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 ;-)

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.

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.


unky's picture

the defence line stands at $1700

Long-John-Silver's picture

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

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.

DoChenRollingBearing's picture

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

Mr Lennon Hendrix's picture

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

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.

Spitzer's picture

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

cosmictrainwreck's picture

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

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.

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.

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.

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.

FeralSerf's picture

Helicopters dropping green reinforcements behind the lines.

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. 

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!

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. 

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.

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

MrJingles's picture

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

WestVillageIdiot's picture

Your orders are to NOT break radio silence. 

HellFish's picture

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

slaughterer's picture

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

WestVillageIdiot's picture

I hate when people write posts in Ebonics. 

PY-129-20's picture

Abwarten und Tee trinken. :) - 1776 -

Hulk's picture

Fragen sie mir ich weiss nicht!!!

Warum werde ich nicht satt???

RockyRacoon's picture

Goen effin einself!

Well, I think you got the idea.

My Gerbonics is bad.

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...

TradingJoe's picture

Immer mit der Ruhe Schlachtmeister!

NuckingFuts's picture

Ich bin ein ZHer! Der bitchez!

lolmao500's picture

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

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. 

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.