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BTFD

Tyler Durden's picture




 

Whether it was stocks, credit, gold, silver, oil, EURUSD, or conk shells, the message we were to believe was clear - BTFD today. As if by clockwork, Europe closed and US equity markets surged - seemingly forgetting that Europe will re-open again tonight but should you need any reassurance of what your pre-assigned Pavlovian role in this tragi-comedic dance-with-the-devil is - we suggest the following clip as a reminder.

 

 

or perhaps the following tweet we pushed earlier will clarify:

 

 

but of course - as a reminder - the only reason this market is ramped - is to enable size sellers to unwind a little more with a little less pain...and sure enough heavy volume and large average trade size stepped in and dipped us off the highs into the close of S&P 500 e-mini futures...

 

 

And while everyone will be chatting about Oil's drop and how great that is for consumers - well they BTFD there too so not so much sorry...

 

 

But for a little clarity of equity's exuberance - the late-day surge took S&P 500 futures well beyond risk-asset's view (CONTEXT) of the world as EUR and Treasuries were not buying it (after being highly correlated all day)...

As a side note on the hilarity, AAPL was one of the bigger dips bought today as it tested down to pre-earnings-week lows and closed the day-session today almost perfectly at yesterday's closing VWAP (must be sheer coincidence we guess) haveing found resistance above at Monday's closing VWAP (again pure coindince we are sure)...

 

And finally - our late-day tweet offering as much valuable advice as the most expensive newsletter...

 

Charts: Bloomberg and Capital Context

 

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Tue, 05/08/2012 - 16:17 | 2408017 Aziz
Aziz's picture

I love that video. I think I must have watched it ten or fifteen times in the last year.

It's a buy the dip scheme!

Tue, 05/08/2012 - 16:20 | 2408043 Pladizow
Pladizow's picture

Once again only the PM's are telling the truth, as everything but them came back by the close.

Tue, 05/08/2012 - 16:52 | 2408121 Max Fischer
Max Fischer's picture

 

 

*LOL*

Holy Cow!  That is some INCREDIBLY STRONG Kool-Aid you're drinking, sir.  It doesn't matter how poorly silver and gold perform, you guys never miss an opportunity to spin your losses into something positive.  I swear, if silver/gold lost 75% of their value, you idiots would be saying, "This is fantastic!  Even though my life's savings is in PMs and I've lost 75% of my wealth, this collapse only enables me to buy more! I hope it goes lower!"

mf 

 

Tue, 05/08/2012 - 16:53 | 2408132 Levadiakos
Levadiakos's picture

Gold is a serial loser. If you own gold it is a serial killer

Tue, 05/08/2012 - 16:54 | 2408141 DosZap
DosZap's picture

Gold is a serial loser. If you own gold it is a serial killer

Bernie, is that you?

Tue, 05/08/2012 - 17:09 | 2408161 Paul Atreides
Paul Atreides's picture

The flouride is strong with Max.

Consider the events in Europe of the last 3 days. TPTB are throwing everything they can to keep the price of silver and gold down in an attempt to reduce it's attractiveness and to shake out the weak long hands. You know the end to the ponzi is near when the MSM trots out guys like Gates, Munger, and Buffett, who say astoundingly stupid things, for what are otherwise intelligent human beings.

Garments and caves? come on....

Stay strong ZHers last call for silver and gold!

 

 

Tue, 05/08/2012 - 17:12 | 2408181 Max Fischer
Max Fischer's picture

 

 

last chance to pickup cheap metals....

Blah, blah, blah.... heard that all the way up to $50.  Where's TMosley?  Where's Turd?  Just yesterday, he told everyone that gold wouldn't go under $1625:

.......Regardless, the area between 1625 and 1635 has been solid support for some time now and I do not expect that area to give way......

http://www.tfmetalsreport.com/blog/3768/driving-mama-ferg

MF

Edit in:  You edited your post and took out the quote I was referencing.  I wonder why?  

Tue, 05/08/2012 - 17:18 | 2408199 The Big Ching-aso
The Big Ching-aso's picture

 

 

I think you like to buy sheep dip.

Tue, 05/08/2012 - 17:20 | 2408201 Paul Atreides
Paul Atreides's picture

You can't edit a post after someone replies to it...douchebag.

Tue, 05/08/2012 - 17:23 | 2408215 Max Fischer
Max Fischer's picture

 

 

He edited it a minute before I posted mine.  Then I went in and posted the "edit in" part which changed my time stamp.

Was it really that difficult to figure out? 

MF

Tue, 05/08/2012 - 17:29 | 2408232 Paul Atreides
Paul Atreides's picture

LOL you quoted me last chance to pickup cheap metals.... then you bitch about me taking it out like I knew what you were going to post a comment quoting it.

Your arguments are weak just like your mind.

Tue, 05/08/2012 - 18:06 | 2408357 Leopold B. Scotch
Leopold B. Scotch's picture

I've been hearing the "gold buyers are idiots" argument for 10 years now...  I started buying at $318 for the same reasons I'm buying right now.

I'm sure this Max dude has picked every bubble top for gold in the last decade (I heard 'em all), and was probably defending the credit system in 2007 and 2008.  "If only the idiots didn't get all filled with animal spirits, it'd all have been ok" type.  You know 'em.  Yet they think they can call a top in PMs.

 

 

Tue, 05/08/2012 - 20:01 | 2408581 UP Forester
UP Forester's picture

I guess the Chinese are serial idiots, loading up on these useless lumps of metal to fondle for a hundred years.

Either that, or they're going to buy Iranian oil with it....

Wed, 05/09/2012 - 00:34 | 2409093 rocker
rocker's picture

Nah, they are not using their gold to buy oil. They use our US dollars. Surely, they have more of them than we do. 

Wed, 05/09/2012 - 01:01 | 2409122 Cosimo de Medici
Cosimo de Medici's picture

Actually, the Chinese probably are serial idiots, at least judging from much of their recent history, and of course judging by their appointed shill, AnAnonymous.  Mao and his policies were responsible for upwards of 50 million deaths, yet his ugly mug adorns all their fiat.  Then there was that "turn your plowshares into steel ingots" thing.  You can't eat steel ingots (nor till your fields with them).  I believe it was during that dark period of their history they developed a taste for dead babies.

I like gold, but using the Chinese as an argument for holding it is like having John Wayne Gacy vouch for you at an adoption hearing.

Tue, 05/08/2012 - 17:53 | 2408316 clymer
clymer's picture

Max, you spend an awful good amount of time chasing PM threads for someone that has better things to spend your money on. Why spend so much time tracking Turds comments? Me thinks you're either a troll or a shill (and friend, those are both bad titles)

I rarely see gold bugs trolling paper-chasers on equty threads, but get a gold or silver topic started and the equity trolls forget all about their own scottrade accounts to spend the last wakeful moments of the day slamming honest money investors.

by the by, Jason Schwartzman was much better as cool ethan in grandmas boy. Love that flick..

 

Tue, 05/08/2012 - 17:22 | 2408211 i_call_you_my_base
i_call_you_my_base's picture

So it's your position that there will be no more easing?

Tue, 05/08/2012 - 17:16 | 2408196 Stoploss
Stoploss's picture

Some have not put two and two together, and are a little red assed.

Remember what happened the last time the gold bashing bunch appeared on TV?

Tue, 05/08/2012 - 19:37 | 2408542 GS-DickinDaMuppets
GS-DickinDaMuppets's picture

If it is not Bernie, then it has to be Buffet or his side-kick Charlie....where's all those cute TV girl interviewers when I need them...someone turn on the damn light so I can see what's happenin'..

 

 

...doing GOD's work...GS-DickinDaMuppets

Tue, 05/08/2012 - 17:55 | 2408321 fonestar
fonestar's picture

Gold, Silver, Guns and Ammo are the only things that make it out of this shitscheme-supreme we are in.  Period.

Tue, 05/08/2012 - 16:53 | 2408137 DosZap
DosZap's picture

Max,

Dudeski....................your drinking the Koolaid.

Hopefully your old enough to realize that there is NO loss, unless you SELL.

Paper losses, that are at best temporary, are not in the long term mindset of most here...........just yours and MDB.

Ya'll Brothers?

Tue, 05/08/2012 - 17:00 | 2408158 CvlDobd
CvlDobd's picture

That's good to know. I was starting to get scared that my TWA, WorldCom, Enron, Old GM, and Lehman shares were worthless. Glad to know that's not true as long as I never sell.

Tue, 05/08/2012 - 17:03 | 2408167 DosZap
DosZap's picture

CvlDobd

We aint taking paper dude.........................BIG diff.

Tue, 05/08/2012 - 17:30 | 2408231 CvlDobd
CvlDobd's picture

I agree with you to an extent. I hold physical metals because I believe that, barring alchemy, they will never be worthless and if held at home/safe/yard/lakebed are difficult to confiscate.

So I'm not super concerned about the price.

Still, I don't see the difference between buying gold coins at $1900 and gold goes to $400, versus buying Enron at $50 and holding until the pink sheets. Still quite a large drop in paper value. Say what you want about paper but I have yet to have a merchant turn it down.

Tue, 05/08/2012 - 17:54 | 2408319 Beam Me Up Scotty
Beam Me Up Scotty's picture

"Say what you want about paper but I have yet to have a merchant turn it down."

Past performance is no guarantee of future results.

Tue, 05/08/2012 - 18:00 | 2408342 disabledvet
disabledvet's picture

Let your ex girlfriend play with 'em for a while...then ask the fence what he paid/got for it...

Tue, 05/08/2012 - 18:04 | 2408350 Beam Me Up Scotty
Beam Me Up Scotty's picture

Also, theres a big difference in 1900 going to 400 (which won't happen) and 50 going to ZERO.  Enron = ZERO.  If by some chance gold DOES go to 400, the DOW will tank and so will food and energy costs.  I will probably still be able to buy the same number of gallons of gasoline and the same amount of food with my $400 worth of gold as I could have at $1900.  You can still buy a gallon of gas for 20 cents if you have 2 1964 dimes.

Tue, 05/08/2012 - 18:20 | 2408394 DosZap
DosZap's picture

Say what you want about paper but I have yet to have a merchant turn it down.

Not yet, anyway,and your talking fiat, not stock, or other paper contractual investments..............................hopefully never. Because at my age, I am too old to go to war.

The main difference, your Enron went to ZERO,PM's will never go to zero.They WILL osicllate in value, and fiat pricing, but unlike anything paper,they can never be 100% worthless............and that is the main point.

Paper anything, is subject to one thing TRUST,if that is lost party's over.

I will go with the big dogs, and their advice, and some limp wrist here(not you Cvl), has ZERO standing to their hundreds of years of combined experience.

Would you rather get advice/recomendations from Billionaires,or an unamed poser poster?.

I know who I will throw in with.

Tue, 05/08/2012 - 18:42 | 2408445 CvlDobd
CvlDobd's picture

I'm agreeing with you guys, see my point on alchemy.

A drop from 1900 to 400 is a paper measurement is it not? That's what I am talking about, paper losses matter because there may come a point at any time that you need assets now and can't afford to wait for a trade to come back in your favor. That is my scenario anyway. If you are wealthy/diversified/etc. enough to avoid that then my hat is off to you.

I too am concerned for the future of paper, hence the metals ownership.

At this point though, my paper bills have some value as do yours. I'm sure you pay your bills with some from of fiat, paper or electronic.

I think of it this way. If paper losses didn't matter, all us Zero Hedgers would be levered up long bank stocks because they don't have to mark to market and we know paper losses don't matter. I for one disagree with that. I don't touch financials, even for a trade, because I believe that unrealized losses on balance sheets can affect interbank confidence.And shit can go to zero real fast i.e. Lehman.

So in summary, I agree with you on the physical side and am not concerned with fiat value of my physical holdings. Also, I don't believe gold and silver will ever be worthless. I was attempting to discuss my views on the importance of unrealized paper losses. I hope that clarifies things.

Cheers.

Tue, 05/08/2012 - 21:21 | 2408719 Beam Me Up Scotty
Beam Me Up Scotty's picture

Thats why you don't go 100% metal.  You keep enough of your paycheck/savings to pay the bills every month, and if you have some savings left over you stack.  If you have a job, save some dollars and save some metal.  Don't leave it all in the bank at .0001% interest.  I've got cash if there is a crash, and i've got metal if there is more QE.

Tue, 05/08/2012 - 21:46 | 2408753 CvlDobd
CvlDobd's picture

You never go full metal!

I have very little in the bank. Enough to pay a few months bills. Most of my cash is in the safe. I eliminate the risk of being corzined by the bank. At least a true robbber would have to have some skills to break the safe versus transferring some 1s and 0s that, as you pointed out, don't earn shit anyway. I agree with you 100%.

Wed, 05/09/2012 - 02:01 | 2409176 Deo vindice
Deo vindice's picture

Keep PMs and cash.

And keep neither in the bank except to keep accounts open.

Tue, 05/08/2012 - 18:42 | 2408446 in4mayshun
in4mayshun's picture

Comparing PM's to ONE stock is not a fair comparison. As an asset class, commodities and Monetary metals in particular have crushed equities in the past 10 years. And when you factor in the massive supression scheme going on with gold and silver, it becomes a no-brainer.

Tue, 05/08/2012 - 17:35 | 2408248 kk1532003
kk1532003's picture

Thanks for proving the point.  To that list you can soon add LinkedIn, AAPL, Pandora, GM, etc....

Tue, 05/08/2012 - 17:02 | 2408162 Max Fischer
Max Fischer's picture

 

 

Hopefully your old enough to realize that there is NO loss, unless you SELL.......

This is BULLSHIT.  The entire Wall Street complex nearly went insolvent due to MBS's and CDO's that they couldn't sell.

Furthermore, I'm sure this is very little comfort for all the bagholders of silver who were duped into buying all the way up to $50 last year by the incessant pumping of silver by those who truly don't know what the fuck they're talking about.....  "price doesn't matter!.... silver to parity with gold!..... buy silver, crash JPM!....  the Comex is imploding!......... the silver industrial panic is coming!.......

*LOL*

MF 

Tue, 05/08/2012 - 17:09 | 2408174 Paul Atreides
Paul Atreides's picture

Going to be seeing a lot more of this douchebag in the coming days, rhetoric and propaganda volume will be set to 11.

Tue, 05/08/2012 - 17:25 | 2408213 Bay of Pigs
Bay of Pigs's picture

Most of these idiots have changed their handles so many times I can't remember who is who.

Is this Max douchebag Red Neck Repugnant or Spalding Smailes?

Tue, 05/08/2012 - 17:29 | 2408235 fuu
fuu's picture

He was RNR. Doesn't mean he wasn't also SS.

Tue, 05/08/2012 - 17:30 | 2408234 TheFourthStooge-ing
TheFourthStooge-ing's picture

Maxine is just feeling a little overemotional. You know, the monthly visitor.

 

Tue, 05/08/2012 - 17:51 | 2408302 Poetic injustice
Poetic injustice's picture

Max Fischer received a 5 year plan of bullshit spewing, but he swore to fullfill it in 3 years. So he is here, working hard on this board.

He does believe that his bullshit make him one of 1%ers.

Tue, 05/08/2012 - 17:06 | 2408177 Aziz
Aziz's picture

If you're buying metals from savings then there is no such problem. You're talking about leverage, and if you're leveraging up to buy precious metals then I don't think you really understand the case for owning physical precious metals, as their benefits really come from shielding you from systemic risk, and taking on debt opens you up to a whole load of fragilities, rate spikes, margin calls, etc.

Tue, 05/08/2012 - 17:12 | 2408187 DosZap
DosZap's picture

Bennie Boy,

You  are going to hate yourself in a few months, or years.

Go ahead, and be the ranting arse.And, yet once again you are comparing PAPER with a metal tangible asset of VALUE,that is real.

Realize the difference to know where I am coming from.

QUESTION and fact................................did anyone lose money on Physical if they still are holding it?.On paper yes, if you SOLD it would they lose,yes.

If you have no intentions of selling............you have lost nothing.On a long enough timeline,the way things are, we will WIN.

We have a system here called DCA, you know what that is..........................do the math.

Tue, 05/08/2012 - 17:22 | 2408207 Max Fischer
Max Fischer's picture

 

 

fucking stupid.

Only a fanatic would convince themselves that they're right whether silver/gold goes up or down.  Your attachment to metals is too emotional, and you've convinced yourself that no matter what happens to the price, you win. 

That's the quickest way to go broke I can possible fathom. 

MF

Tue, 05/08/2012 - 17:36 | 2408219 Paul Atreides
Paul Atreides's picture

"That's the quickest way to go broke I can possible fathom." - Silver and Gold have outperformed any other asset on the market over the last 10 years and most of us have been buying for years. Couple that with HUGE sovereign risk across the board and the logic is undeniable: We have and will continue to prosper from our metal purchases in this paradigm or the next.

Tue, 05/08/2012 - 17:36 | 2408253 Stoploss
Stoploss's picture

My ignernt ass loaded up back in '06 for under 500 (fucking all time high, i know), now look at me.

Some days don't pay to get out of bed i guess.

Tue, 05/08/2012 - 18:08 | 2408363 disabledvet
disabledvet's picture

We did own excite@home back in the 90's. Only stock that ever went to zero on us. I did have to point a gun "in the incorrect direction" to get that sell at Citi. Right at the high I might add. That piece of crap went to a buck! I'm still not sure if I should have bought Ford at a buck a share now. Does any of this make sense? I do agree "gold will not go to zero...or even a Citigroup dollar." why is everyone so defensive when it comes to breaking banks around here?

Tue, 05/08/2012 - 20:49 | 2408659 machineh
machineh's picture

'Silver and Gold have outperformed any other asset on the market over the last 10 years and most of us have been buying for years.'

Precisely. Long run, gold is a zero real return asset. An ounce of gold would buy a fine toga in Augustan Rome, and it will buy a fine suit today. Gold maintains purchasing power over time -- no more, no less.

So when gold greatly outperforms inflation for an extended period, it might just be overbought. Absent a reliable valuable metric for bullion, no one knows. 

But true-believer chest-pounding proclaiming "Bring on de price dips so's ah kin buy mo'" usually means it's quite late in the day.

Gold is a unique, wonderful and valuable asset -- but not at any price, and not as a dominant holding in your portfolio.

You have been warned.

Tue, 05/08/2012 - 21:15 | 2408697 Paul Atreides
Paul Atreides's picture

I think you should warn China they bought 19,729 kilograms in Q1 2011 and increased their purchases 6 fold to 135,529 kilograms (135.53 metric tons) in Q1 2012.

Wed, 05/09/2012 - 04:36 | 2409324 margaris
margaris's picture

Enough with this comparison of 1 toga = 1 suit = 1 ounce of gold.

Is the clothing of rich people really the appropriate way to measure the Purchasing Power of Gold?

Why not make another example that is more important for our lives (and also has been in ancient rome):

With 10 ounces of gold you could probably buy a nice piece of arable land WITH a small roman villa on it.

But you cant buy that today. You would at least need todays gold price to be 10 times higher.

So lets remind ourselves what REALLY is important in life: Some land, a house, growing your food.

I dont care about rich peoples expensive suits... I am more into functional clothing anyway, lol

Tue, 05/08/2012 - 17:37 | 2408254 kk1532003
kk1532003's picture

actually, the quickest way to go broke is to follow the herd sheep...

Tue, 05/08/2012 - 17:41 | 2408267 Tsunami Wave
Tsunami Wave's picture

OHHHHH NOOOO RED NECK REPUGNICANT/LIBERTARIANS FOR PROSPERITY/TEXAS GUNSLINGER! My barbaric relics are going to ZERO! Soon they will get de-listed from the CME/Nasdaq/S&P/Dow Jones! AHHHHHHHH!!!

 

Get a life, loser.

Tue, 05/08/2012 - 17:43 | 2408273 TheFourthStooge-ing
TheFourthStooge-ing's picture

Maxine Fischer, Harena in Femina Genitalibus, said:

That's the quickest way to go broke I can possible fathom.

Psssst...wanna buy some Greek bonds? I can make you a good deal.

 

Wed, 05/09/2012 - 07:36 | 2409426 StychoKiller
StychoKiller's picture

There's over $15 (make that 16!) Trillion reasons why we're heading into a cul-de-sac.  Look up Exponential functions, then check yer premises.

Tue, 05/08/2012 - 17:22 | 2408208 Stoploss
Stoploss's picture

MF?

MF Global??

DID YOU WORK FOR MF GLOBAL YOU FUCKING COCKSUCKER??

 

YOU GOT ALL THE FUCKING GOLD??

HUH??

Tue, 05/08/2012 - 17:22 | 2408209 Chupacabra-322
Chupacabra-322's picture
Turkey Exports “Massive Quantities Of Gold” to Iran and Arab Spring Nations

Iranians and Arab Spring countries are buying “massive quantities of gold” in order to protect their wealth from political instability and depreciating currencies.

Iran boosted imports of gold, jewelry and precious metals from Turkey by 3,692% from $13 million in March a year ago to $480 million in March 2012, according to the statistics agency in Ankara April 30 - as reported by Bloomberg.

The gold market was the biggest contributor to a $4.3 billion improvement in Turkey’s trade balance this year. That has aided Turkey and sent Turkish yields on benchmark two year notes 155 basis points lower this year. This is the biggest drop among major developing nations.

While Turkey has assured the U.S. government it will cut purchases of oil from Iran by 20% this year, its total trade with the Islamic Republic increased 47% to $4.8 billion in the first quarter from a year earlier.

Sanctions aimed at isolating Iran because of its nuclear program, combined with revolutions in the Middle East, have spurred a tripling in the region’s purchases of Turkish precious metals and jewels to $942 million in the first three months, from $282 million in the same period last year.

This 30% increase in demand is contributing to gold remaining above $1,600/oz in what has all the hallmarks of another period of consolidation prior to higher prices.

“Turkey is exporting massive quantities of gold to Iran and Arab Spring countries as citizens in those countries switch to portable wealth,” Mert Yildiz, chief economist for Turkey at Renaissance Capital, told Bloomberg on April 30.

The increase in trade with Iran comes as sanctions make it harder for trading partners such as Turkey, India and China to pay in dollars and euros.

Iran said in February it would accept payment in any local currency or gold.

Reuters report today that Iran is accepting payments in yuan for some of the crude oil it supplies to China, the Iranian ambassador to the United Arab Emirates said on Tuesday. "Yes, that is correct," Mohammed Reza Fayyaz told Reuters when asked to comment on an earlier report in The Financial Times.

The newspaper cited unidentified industry executives in Beijing as saying most of the oil that goes from Iran to China is handled by the Unipec trading arm of Sinopec China's second-largest oil company, and through another trading company called Zhuhai Zhenrong.

Fayyaz also confirmed that Iran was spending the currency on goods and services imported from China.

While Turkey has agreed to cut oil imports from Iran, its officials have said they aren’t bound to abide by broader sanctions imposed by the U.S. and European Union, which are stricter than those from the United Nations.

Turkey imports almost all of its energy, and every $10 a barrel increase in the price of oil adds about $4 billion to Turkey’s import bill.

Iran supplies about 40% of Turkey’s oil, making it the largest single source for the fuel, according to the Energy Ministry. The country pays about $6 a barrel less for Iranian oil than Brent crude, according to a Goldman Sachs Group Inc. report in March.

The narrowing in Turkey’s current-account gap has helped buoy the lira, with the currency appreciating 7.3% against the dollar this year following an 18 percent slump in 2011, the biggest drop worldwide.

Turkey has been a net exporter of more than $1 billion of gold, jewelry and precious metals so far this year after importing a net $411 million in the same period last year, according to official statistics. Turks give gold as gifts for events from births to weddings, and have traditionally used the metal as a store of value against yearly inflation that was more than 70% as recently as a decade ago.

Turks are believed to have a massive 5,000 tons of gold “stashed under their pillows.” So estimated Ozcan Halac, head of the Istanbul Gold Exchange, in March. That’s about $265 billion, or a third of Turkey’s gross domestic product, based on a gold price today of $1,640.29 an ounce.

In March, The Wall Street Journal reported how this Turkish government, facing a bloated current account deficit is to attempt to persuade Turks to transfer their vast personal holdings of gold into the country's banking system.

http://www.marketoracle.co.uk/Article34555.html

Tue, 05/08/2012 - 17:25 | 2408221 TWSceptic
TWSceptic's picture

I hope we see you as much as we do right now when the next big rally is there asshole.

Tue, 05/08/2012 - 17:31 | 2408240 fuu
fuu's picture

He's been calling for gold under $1200 since last year.

Tue, 05/08/2012 - 17:47 | 2408283 Tsunami Wave
Tsunami Wave's picture

When he was "Libertarians-for-Prosperity", he claimed he wasn't "Red Neck Repugnicant" and also claimed QE2 changed everything so all his dumbass analysis about the future was in fact null and didn't matter, and not at all blatently wrong.

Tue, 05/08/2012 - 19:34 | 2408456 fuu
fuu's picture

Exactly.

 

RNR post: http://argos.zerohedge.org/article/full-criminal-complaint-and-affidavit...

LFP Crossover post: http://www.zerohedge.com/news/precious-metal-margin-warfare-jumps-pacifi...

 

RNR stating there is significant risk of gold under $1000 back in July of 2010: http://www.zerohedge.com/article/gold-plunges-paulson-liquidation-specul...

You could make the case that he was MathMan as well: http://www.zerohedge.com/news/market-closing-snapshot#comment-2017269

"I think everyone at ZeroHedge should pay their respects to MathMan for being THE ONLY ONE right about silver this year.  He called the collapse in the Spring, and he called for silver to fall back to the 20's by year end" 12/28/11

 

Just for fun: http://www.zerohedge.com/news/goldmans-head-gold-trader-recoupling-betwe...

"If not for QE2, deflation would have ravaged this country, and gold would have been under $1000.  I'm sure when QE2 was commenced, RNR changed his opinion dramatically. Anyone would have.  

Third, neither RNR nor I happen to run a precious metals website. I don't pretend to be a professional, nor do I give investment advice.  Big difference."

Tue, 05/08/2012 - 17:34 | 2408246 IndicaTive
IndicaTive's picture

Mister MF, you seem to only laugh after the fact and point to current market moves to make your point. Have you posted YOUR take on the FUTURE of PMs and the market in general? If you answer "yes" I will galdly do my homework and search it out. I'm not a trader, I'm a trapped 401ker who has been accumulating PMs for quite a while because I have small children that I want to protect after I'm gone. I didn't buy silver at $50. But I did pick some up in the high $30s and once at $40. I'm still learning, and will continue for quite some time. But who the fuck are you to pop in once in a while with what is basically a "nyana nyana boo boo" and not offer any sage advice?

Tue, 05/08/2012 - 16:57 | 2408148 rollercam
rollercam's picture

Enough of the dandilion one-hitters for you!

Tue, 05/08/2012 - 17:19 | 2408200 Theosebes Goodfellow
Theosebes Goodfellow's picture

@mf:

Your statements might ring true except for one small point. Unless you sold your PMs, your asset wealth would remain unchanged, (you would still hold the same number of ounces of PMs). Their value relative to Federal Reserve debt, (dollars), might appear diminished, but since the Fed, through banksters are actively involved in suppressing the true value of PMs, this 'devaluation' is as much of a fraud as is the value of equities. BTFD is insane if you are talking about equities, but an astute plan if you are acquiring PMs, (imho). And unless you haven't been doing your homework, PMs will go lower when the equities markets suffer their upcoming bloodbath. Everything will, but for PMs, it will not be for long as people rush to the protection PMs provide. Remember, it will be value relative to USDs, (or Euros, Yens, etc.).

Tue, 05/08/2012 - 17:20 | 2408205 TWSceptic
TWSceptic's picture

One day you will look back at all the things you said here, and laugh at how silly you were. I promise.

Tue, 05/08/2012 - 17:32 | 2408243 fuu
fuu's picture

Why wait, some of us just laugh at him now.

Tue, 05/08/2012 - 17:49 | 2408298 TheFourthStooge-ing
TheFourthStooge-ing's picture

No time like the present.

 

Tue, 05/08/2012 - 19:48 | 2408560 Eireann go Brach
Eireann go Brach's picture

Let it be known that Max Fischer is the half breed ape child of Charley Munger and Nancy Pelosi!

Tue, 05/08/2012 - 20:39 | 2408636 Seer
Seer's picture

Well, that's YOUR take on things.  Reality, on the other hand, tells a different story:

Financial Face-Off: Warren Buffett Vs. Gold and Silver

http://finance.yahoo.com/news/financial-face-off-warren-buffett-19210010...

Tue, 05/08/2012 - 21:34 | 2408738 James_Cole
James_Cole's picture

http://www.kitco.com/LFgif/au00-pres.gif

I've done OK with gold, more kool-aid please.

 

Tue, 05/08/2012 - 16:27 | 2408052 SRSrocco
SRSrocco's picture

ACCUMULATION/DISTRIBUTION LINE HITS ALL TIME HIGH IN GOLD & SILVER

While I don't adhere to Technical Analysis for short term moves, I still think it has merit in looking at longer term trends.  If we look at the Gold and Silver Chart you will see that the Accumulation/Distribution line is hitting new records in both while the prices of both metals continues to get clobbered. Normally the ACCUM/DIST line falls with price.  But in both gold and silver the ACCUM/DIST line disconnected in the Fall of 2011.  INSERT CONSIDERABLE MANIPULATION HERE...

These charts are at Turds Blog:

http://www.tfmetalsreport.com/comment/163489#comment-163489

Tue, 05/08/2012 - 16:38 | 2408095 Joe The Plumber
Joe The Plumber's picture

Asians are as steady as rocks when it comes to their personal finances. They believe the trend is clear and will not slow down their accumulation on a price decline

Tue, 05/08/2012 - 16:48 | 2408122 DosZap
DosZap's picture

and will not slow down their accumulation on a price decline

Not if their in their right minds,I am also in camp we will see better pricing in the coming weeks, as it continues to melt down over there.(and the USD will spike temporaily and give us a bone, UNless QE 3 comes first).

Tue, 05/08/2012 - 16:55 | 2408140 Levadiakos
Levadiakos's picture

I quit reading when people misuse their, there and they're.

Tue, 05/08/2012 - 17:03 | 2408147 DosZap
DosZap's picture

*

Tue, 05/08/2012 - 17:08 | 2408165 cbxer55
cbxer55's picture

You are using their in place of they are. Therefore it should be they're.

Tue, 05/08/2012 - 17:05 | 2408170 Ookspay
Ookspay's picture

"not if they're in their..."

 

Tue, 05/08/2012 - 17:16 | 2408197 DosZap
DosZap's picture

Or, not if they are in their right minds,I rarely ever see they're used in sentences.

Tue, 05/08/2012 - 17:24 | 2408217 Theosebes Goodfellow
Theosebes Goodfellow's picture

"...not if they're in their there..."

Fixed! You're welcome!

Tue, 05/08/2012 - 18:18 | 2408389 Deo vindice
Deo vindice's picture

There, there now. Let's all get along.

Or should it be, "They're there now, so we don't need to get along?"

Tue, 05/08/2012 - 17:07 | 2408178 toady
toady's picture

'Not if they're in their right...:

Fixed ... not that I care....

Guess I shouldn't respond if I don't care, but I did!

Tue, 05/08/2012 - 17:19 | 2408203 ThirdWorldDude
ThirdWorldDude's picture

Are you a trader? (that's a rhetorical question)

 

Guess I shouldn't have responded if I don't care, but I did!

 

I care because you do...   http://www.youtube.com/watch?v=34QXu__ywY8


Tue, 05/08/2012 - 18:30 | 2408417 Raymond Reason
Raymond Reason's picture

Let's hope you never have to communicate in an acquired language then.  Karma is a bitch. 

Tue, 05/08/2012 - 21:04 | 2408685 Hulk
Hulk's picture

Her'e ,hea're !!!

Wed, 05/09/2012 - 00:05 | 2409047 peter4805
peter4805's picture

They're in their glory over there.

Tue, 05/08/2012 - 17:12 | 2408186 ThirdWorldDude
ThirdWorldDude's picture

To paraphrase Mr. Rockefeller:

 

"We are grateful to The Fed, The ECB, BoJ and other great Central Banks whose management respected their promises of manipulating the markets in the previous years.

 

It would have been impossible for us to stack physical if we had been subjected to the skyrocketing prices of a free market. But, the world of finance is now more sophisticated and prepared to march towards the abyss. The value of physical assets is surely preferable to the worthless pieces of s#@t that you have been printing."

Tue, 05/08/2012 - 18:12 | 2408372 disabledvet
disabledvet's picture

Spoken like a true oil man.

Wed, 05/09/2012 - 09:40 | 2409670 e-recep
e-recep's picture

> INSERT CONSIDERABLE MANIPULATION HERE...

how do they do that?? what kind of might is that??

Tue, 05/08/2012 - 16:16 | 2408022 UTICA CLUB XX PURE
UTICA CLUB XX PURE's picture

BTFD Got-It. I'm hearing Silver may even touch $ 28.00 before it shoots up...

Tue, 05/08/2012 - 18:55 | 2408180 Randall Cabot
Randall Cabot's picture

It's BTFDYFI, YFI.

Tue, 05/08/2012 - 17:17 | 2408198 polak potrafi
polak potrafi's picture

przerazic sie nie na zarty

 

do not double dip that chip

 

27$ 17$

Tue, 05/08/2012 - 20:55 | 2408669 WmMcK
WmMcK's picture

Tempt fate much? Have fiat will buy ASAP.

Tue, 05/08/2012 - 16:17 | 2408026 GeneMarchbanks
GeneMarchbanks's picture

All has been priced even the Book of Revelations itself.

STFR#, Female Dogs!

Tue, 05/08/2012 - 16:20 | 2408038 The Big Ching-aso
The Big Ching-aso's picture

 

 

This market is more propped up than a Weekend at Bernie's.

Tue, 05/08/2012 - 16:24 | 2408056 HD
HD's picture

The whole market IS "Weekend at Bernie's"...

Tue, 05/08/2012 - 16:57 | 2408145 francis_sawyer
francis_sawyer's picture

Weekend at BernANKies...

Tue, 05/08/2012 - 17:55 | 2408329 jomama
jomama's picture

WB7 incoming.  if he hasn't gotten to that one yet!

Tue, 05/08/2012 - 18:16 | 2408382 Beam Me Up Scotty
Beam Me Up Scotty's picture

"The whole market IS "Weekend at Bernie's"..."

 

That pretty much sums it all up.  +1000 to you

Tue, 05/08/2012 - 16:26 | 2408068 DosZap
DosZap's picture

Dig this.....................

http://finance.yahoo.com/news/bank-of-america-offers-principal-reductions-to-200-000-homeowners.html

Now why couldn't most of us bought a new mansion, and get it for 50% off?.

Tue, 05/08/2012 - 16:53 | 2408136 PersonalRespons...
PersonalResponsibility's picture

Un-fucking-real

Tue, 05/08/2012 - 16:24 | 2408059 sbenard
sbenard's picture

LOL! I MUST remember that -- even the Book of Revelation is priced in! Best laugh all day!

Tue, 05/08/2012 - 16:54 | 2408029 francis_sawyer
francis_sawyer's picture

H-M-M-M-M...

Tue, 05/08/2012 - 16:19 | 2408035 LouisDega
LouisDega's picture

John Houseman Bitchezzz

Tue, 05/08/2012 - 16:20 | 2408039 Bill D. Cat
Bill D. Cat's picture

Odd , the metals didn't follow the markets back up .

 

/s

Tue, 05/08/2012 - 16:20 | 2408045 Aductor
Aductor's picture

It seems the reason put forward by talking heads is that Greece is such a small economy. While this is true, the implications of an euro-exit or Greece going Icelandic policywise are huge. It will blow a hole in confidence throughout Europe (as if there was a confidence left to torpedo).

Tue, 05/08/2012 - 16:22 | 2408048 sbenard
sbenard's picture

Who needs an economy? We have PRINTED prosperity now!

Tue, 05/08/2012 - 16:22 | 2408049 you enjoy myself
you enjoy myself's picture

As a side note on the hilarity

that about sums up my view from the sidelines these days - i was literally laughing when /ES starting ramping.  

Tue, 05/08/2012 - 16:23 | 2408058 theTribster
theTribster's picture

That's some funny shit there. I'm a little unclear though, Buy the Fucking Dip?

Too funny.

Tue, 05/08/2012 - 16:25 | 2408062 bsdetector
bsdetector's picture

No. I am not playing their game. I will not BTFD! 

Tue, 05/08/2012 - 16:26 | 2408070 niktamere
niktamere's picture

I'd buy that for a dollar!

http://www.youtube.com/watch?v=85cL1HisrNc

Tue, 05/08/2012 - 16:33 | 2408076 Waterfallsparkles
Waterfallsparkles's picture

More like forced short covering by the Computers.  Did not cover on the sell down in the morning then you will chase it higher to the end of the day.

Or Short the open and cover before 11:00AM.  Then re short at the high.

It conditions Shorts to cover at 11:00Am.  One day it will go even lower after they cover as there will be no support.

Tue, 05/08/2012 - 16:30 | 2408078 Plymster
Plymster's picture

Europe closed and US equity markets surged - seemingly forgetting that Europe will re-open again tonight...

-Zerohedge

There may come a time soon when Europe will not re-open.  I would think that would NOT be a good time to buy equities.

Tue, 05/08/2012 - 18:16 | 2408383 disabledvet
disabledvet's picture

I agree with this. Europe looks more like Japan everyday. "From 40, 000 to 10,000...and that's it." trading will dry up at some point. "that's when sovereign debt get's interesting" since unlike Japan/Tokyo Europe doesn't strike me as a natural currency union.

Tue, 05/08/2012 - 16:33 | 2408082 urbanelf
urbanelf's picture

Be sure to load up on GS, MS, JPM and BAC.  But don't settle for electronic shares in your Scottrade account.  You will want the actual physical certificates if you want to survive the coming crash.

Tue, 05/08/2012 - 17:11 | 2408184 Waterfallsparkles
Waterfallsparkles's picture

After Bear Stearns and Lehman, I would not touch the Banks with a ten foot pole.

Tue, 05/08/2012 - 16:40 | 2408097 thomas pain
thomas pain's picture

H.m.m.m.m.m.

Tue, 05/08/2012 - 16:41 | 2408101 Benjamin Glutton
Benjamin Glutton's picture

Conch shells...and if your lucky you may get a pink Conch Pearl.

 

We seceded long ago.

 

The Conch Republic is a micronation declared as a tongue-in-cheek secession of the city of Key West, Florida from the United States on April 23, 1982. It has been maintained as a tourism booster for the city since. Since then, the term "Conch Republic" has been expanded to refer to "all of the Florida Keys, or, that geographic apportionment of land that falls within the legally defined boundaries of Monroe County, Florida, northward to 'Skeeter's Last Chance Saloon' in Florida City, Dade County, Florida, with Key West as the nation's capital and all territories north of Key West being referred to as 'The Northern Territories'."[4]

While the protest that sparked the creation of the Conch Republic (and others which have occurred since then) have been described by some as "tongue-in-cheek", they were motivated by frustrations over genuine concerns. The original protest event was motivated by a U.S. Border Patrol roadblock and checkpoint which greatly inconvenienced residents and was detrimental to tourism in the area.

The Conch Republic celebrates Independence Day every April 23 as part of a week-long festival of activities involving numerous businesses in Key West. The organization – a "Sovereign State of Mind," seeking only to bring more "Humor, Warmth, and Respect" to a world in sore need of all three according to its Secretary General, Peter Anderson – is a key tourism booster for the area.[citation needed]

 

http://en.wikipedia.org/wiki/Conch_republic

 

BTFD!

Tue, 05/08/2012 - 17:16 | 2408182 Wakanda
Wakanda's picture

The Conch Republic starts at the 7 mile bridge and goes south to Key West or maybe the dry Tortugas.  North of that is a suburb of Miami.

Tue, 05/08/2012 - 19:32 | 2408535 Benjamin Glutton
Benjamin Glutton's picture

the inspirational roadblock was 18 miles north of Key Largo on US 1 70+ miles north of Marathon.

 

No one who lives in the Keys considers themselves suburbanites of Havana err...Miami.

Tue, 05/08/2012 - 16:43 | 2408110 TheObsoleteMan
TheObsoleteMan's picture

I called the bottom {not that suicidal alcoholic Mark Haines} on March 6, 2009. I went full retard in insurers, financials and transports. Made a killing. This has been going on for over three years now, much longer than I ever dreamed, and I suspect has another 9 months or so to go. This reminds me of a ponzi that was going around big back in the mid 1990s called "The Circle of Friends". The whole thing worked like a charm, returning $10k for just a $500 initial deposit. Until like all ponzis, they run out of suckers. We are not out of suckers just yet, but we are getting close. I suspect we will see a market fail just before the old high of 14k.

Tue, 05/08/2012 - 16:45 | 2408117 Convolved Man
Convolved Man's picture

The SHBL (sell high, buy low) trading mantra also works in this market.

Tue, 05/08/2012 - 17:47 | 2408293 Levadiakos
Levadiakos's picture

The crackerjack gold doomers only buy.

Tue, 05/08/2012 - 17:51 | 2408306 kk1532003
kk1532003's picture

and if I'm wrong all that will happen is that I'll be stuck with a bunch of very heavy metals (lead and gold)...but if I'm right.....what will YOU do?

Tue, 05/08/2012 - 16:49 | 2408124 jon
jon's picture

conch shells aren't worth shit. in north america, wampum was king. it was cut/carved/polished from whelk and quahog. now buy the fuckin' clam dip

Tue, 05/08/2012 - 16:53 | 2408134 Dead Canary
Dead Canary's picture

Humm...... Buy fucking you dip...  No.  Dip fucker buying the.... That's not it. Uh.... Dip shits fucking buyer....

Dammit, can I see that again?

Tue, 05/08/2012 - 17:50 | 2408305 Jam Akin
Jam Akin's picture

This is it:  "Fuck Buying The Dip"

Tue, 05/08/2012 - 16:55 | 2408142 junkyardjack
junkyardjack's picture

FOSL, buy the dip....

Tue, 05/08/2012 - 16:55 | 2408146 Squid Vicious
Squid Vicious's picture

well, at least I CSS on TFD ... but i still can't bring myself to actually BTFD, maybe I can hire that Whole Foods mascot guy to do it for me ... 

Tue, 05/08/2012 - 17:07 | 2408173 q99x2
q99x2's picture

Great article. Short and powerful.

Looks like the banksters are using the FED to transfer the money to them with machine-like precision.

This article along with the Casey Research article on Gov't are my two favorites of the year.

Tue, 05/08/2012 - 17:09 | 2408176 Waterfallsparkles
Waterfallsparkles's picture

I think you can  trade many ways.  Long or short.  Short at the pump in the morning at first open and wait for the sell off.  Cover before 11:30.  Re short at the pump at the end of the day.

Or Buy the Dip in the Morning wait for the pump and sell.  Re buy around 11:30 for the afternoon pump and then sell before the end of the day.

Although, with the stock prices I prefer to be on the short side.  I would not want to get stuck at the top.  Best to be out of your position at the end of the day.  Never know what they will do with futures.  That way you can decide how to play the day based on the open.

Tue, 05/08/2012 - 17:40 | 2408265 kk1532003
kk1532003's picture

and so nothing is "created or inovated", ever.  Paper here, paper there....Paper is debt, capital was used up 15 years ago...

 

It's why we are where we are....

Tue, 05/08/2012 - 19:03 | 2408478 EclecticParrot
EclecticParrot's picture

I agree the BTFD strategy works even better if you first employ the STFO methodology (Short the Fucking Open) and, if any 'idgits' question your wisdom, STFO can be quickly morphed into STFU (yes, that's "Shut the Fuck Up").

Tue, 05/08/2012 - 17:23 | 2408210 Frastric
Frastric's picture

We need a BTFD for dummies book.

Tue, 05/08/2012 - 17:58 | 2408331 Levadiakos
Levadiakos's picture

You mean you nned it

Tue, 05/08/2012 - 17:33 | 2408247 Rathmullan
Rathmullan's picture

"Over There". As if it were 1941-- well, pre-December 7, 1941.

Tue, 05/08/2012 - 17:45 | 2408278 tahoebumsmith
tahoebumsmith's picture

Here is my advice to all you cumpulsive gamblers that live your mundane lives at the Wall St. Casino everyday... Join Gambler's anonymous now so that when the Casino burns to the ground you will at least have started therapy and it won't be such a shock. There is no mathematical way that the entire derivitive ticking time bomb isn't going to blow. Europe is going to light the fuse and when it does you can count on the entire Ponzi to completely collapse. We are living in a different dimension now, mostly synthetic and it has all been created by the Global Banking Kleptocrats with the support from the FED and their leaders. When this finally comes unglued, maybe just maybe the people will finally realize how badly they have been looted and hoodwinked into supporting their complete takeover of the entire globe...

Tue, 05/08/2012 - 18:04 | 2408354 jmcadg
jmcadg's picture

I'm lovin' this Max Fischer twat. He's an A Grade Dickwad.

Keep going son, we're all having a good laugh at your expense.

Tue, 05/08/2012 - 18:08 | 2408364 ebworthen
ebworthen's picture

Robots at some point will STFH (sell the fucking high) but...

Tue, 05/08/2012 - 20:13 | 2408461 BlackholeDivestment
BlackholeDivestment's picture

BTFD Cup of Fornication, get it right! Drinky drinky.

...and that's the prophetic revelation of the Golden BTFD Cup of Fornication, ...in the Whore of Babylon's drunken hand, filled with the Wine of Wrath, as she rides the globalized market bull, ''The Beast'', ...down ...down ...down inside the bottomless black hole.

...Bitchez. http://www.youtube.com/watch?v=GbC_571dksE 

Side Note: SkyNet Drones

                  ON SALE NOW! 

                     ONLY $666 

http://www.activistpost.com/2012/05/drone-deals-go-international-with-no.html 

...shipping and handling paid by tax payers not yet produced by tax payers. 

http://www.businessinsider.com/unmanned-poison-drones-threatening-the-olympics-are-worrying-the-uk-military-2012-5 

http://blog.alexanderhiggins.com/2012/05/07/dhs-release-potential-superbug-cousin-anthrax-boston-terror-drill-130521/ 

http://www.dailymail.co.uk/sciencetech/article-2138805/Bird-flu-Science-journal-publishes-details-deadly-virus-cause-global-pandemic.html?ITO=1490 

Remember FDIC http://www.rense.com/general15/3wwho.htm http://www.rense.com/general30/cart.htm

 

P.S. http://www.theblaze.com/stories/egyptian-cleric-claims-muslim-brotherhood-presidential-candidate-will-make-jerusalem-the-capital-of-the-caliphate/

 

Tue, 05/08/2012 - 19:52 | 2408569 icanhasbailout
icanhasbailout's picture

"it's different this time"

Tue, 05/08/2012 - 21:07 | 2408693 Freewheelin Franklin
Freewheelin Franklin's picture

Buy the dip ---> pump and dump ---> repeat

Wed, 05/09/2012 - 06:50 | 2409377 ssshhhh
ssshhhh's picture

Now I understand! Zero Hedge is a woman...

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yang46's picture

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Muppet's picture

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