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Gold's Surge, Stocks Purge, And Treasury Yield Records Emerge

Tyler Durden's picture





 

The market was anxious going in to the NFP print but once the dismal data point hit, things deteriorated rapidly.

Pre-NFP ->EUR 1.2322, ES 1292, WTI $84, 10Y 1.51%, 30Y 2.59%, gold $1554

Post-NFP -> EUR -10pips 1.2312, ES  -10 1282, WTI -$1.2 $82.8, 10Y -5bps 1.46%, 30Y -7bps 2.52%, gold +$18 $1572

Treasury yields at record lows (10Y well below and 30Y right at Dec08 lows) as Gold pops (QE hope?) but stocks don't for now (reality of QE's inability to really help?). Oil down on global growth markdowns and EUR modestly weaker (choppy but practically unch now) - though looks like its all relative printing expectations now.

Gold vs USD vs Stocks vs Treasury Yields

Gold and Silver outperforming...

Treasury rates are just plummeting...30Y -32bps this weeks!

It seems the SNB has been active as EUR/JPY explodes in a choppy mess...

 

Charts: Bloomberg

 


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Fri, 06/01/2012 - 08:54 | Link to Comment NewWorldOrange
NewWorldOrange's picture

There will be profit for those here who ACT. I posted this a few days ago:

Well at least one POOR guy is fast growing rich off these fucks: Been short EUR/USD for nearly a month, as well as NZD/USD and AUD/USD. Scaled in for two weeks. ALL IN NOW. Do or die. Thanks Tyler. The incessant "gloom and doom" on Europe definitely encouraged me. I owe you buddy;:

HERE'S HOW YOU GET RICH OFF THIS SHIT PEOPLE

Sun, 05/06/2012 - 17:37 | 2401652 NewWorldOrange "It's going to be a very interesting summer." Yes indeed it is. Perhaps even better than last summer (for currency traders.) As for this evening, I think AUD/USD and/or NZD/USD are better shorts than EUR/USD. Always great "risk off" trades, especially on a Sunday evening after such a weekend. Whether the markets perceive increased volatility much in part due to the Europe elections, a decline in global markets, or are still just pricing in the Friday's jobs report, there is likely to be a flight to the "safety of the US dollar" (yeah, I know - LMAO too) and when that happens the Aussie and Kiwi usually take a real beating. Especially if commodities markets are trending down as they have been.

Shorted both and EUR/USD Friday afternoon. Just closed EUR/USD. Just added BIG to my already sizeable shorts on AUD/USD and NZD/USD. I'll either wake up with a huge profit or most of my earnings from the past two months wiped out. Because sometimes you just gotta' go for the gusto.

[UPDATE 5-30-12: I got back in EUR/USD shorts the next week...closed my AUD NZD shorts last week...still in the EUR/USD short and in fact just went all in on that with a target of 1.21...}

[UPDATE 6-1-12: The Big EUR/USD SHORT: The gift that keeps on giving! Break below 1.23 imminent...] (I think I'm allowed to gloat a bit especially after the past few days, heh. I'M RICH BITCHES!)

Thanks again Tyler! I owe you buddy!

Fri, 06/01/2012 - 09:00 | Link to Comment jekyll island
jekyll island's picture

Cut and paste the same post on several articles?  Why don't you act like you have had a winning trade before this one?  

Fri, 06/01/2012 - 09:04 | Link to Comment pods
pods's picture

When you get to the end zone, act like you're supposed to be there.

pods

Fri, 06/01/2012 - 09:40 | Link to Comment Harlequin001
Harlequin001's picture

You're never going to believe this but I went short the euro, short US Dollar, short Treasury's and just about everything else I can think of when I bought gold. And guess what, I still own it.

Funny that. Now just stand back and watch what happens when big bad Ben lights the blue touch paper in 3..2...1...

Fri, 06/01/2012 - 09:55 | Link to Comment NewWorldOrange
NewWorldOrange's picture

At least I'm trying to REACH the endzone b1tch! YOU? ALL TALK. All you will ever be. You'll be a poor brokedick after the big collapse just like most of the people here! LMAO at all the brokedicks!

 

Fri, 06/01/2012 - 10:48 | Link to Comment Drachma
Drachma's picture

I'm long the Drachma. You with me bro? It's jeenyous, jeenyous.

Fri, 06/01/2012 - 12:39 | Link to Comment Itch
Itch's picture

So you went all in on the Euro, what price are you flat? I would love to follow your trades man.

Fri, 06/01/2012 - 13:10 | Link to Comment NewWorldOrange
NewWorldOrange's picture

Too late for that bro;)  You can look back thru my comments...May 6 tells most of the story buy if you just read the one above you pretty much did. Check my comments for on made a few hours ago on how I did this starting with almost nothing (got a ton of credit cards and funded a forex account just over a month ago - even posted THAT here and recommended others do it.)

I took a million off the table yesterday. It was inevitable the jobs report would be horrible today and that would at least temporarily pause the flight to the "safety" of the dollar (LMAO). But I'm still "all in" with the rest - as much as I can be without margin requirement knocking me out of my trade before it hits my stop. My stop is at 1.2610. My limit is set at 1.2100. I'm letting that ride. I either lose about 2/3 of what's still in the account (okay, I'll tell ya' - 1.6 mil in it still) or it will hit my limit at 1.2100 and I'll be the Six Million Dollar Man.

Two months ago my entire net worth was $60,000 maybe, mostly in a little land I own in Costa Rice and the POS boat I live on.

Been reading this site for a few years. Just signed up two months ago when I decided to go for that gusto! Stuck on a PC trading, why not? This will be my last day posting here, or probably anywhere ever for that matter. Really not the blogging type. Too busy living in the real world.

Looking for a much nicer, bigger, seaworthy boat! Kudos to you, sounds like you're not the brokedick pods and her band of sissies are;)

Watch out for brokedicks! LOL!

http://www.youtube.com/watch?v=Y4NChe56s9E

Fri, 06/01/2012 - 15:04 | Link to Comment Bizaro World
Bizaro World's picture

Congrats, but no need to bash ZHers.. And you should properly thank Tyler for your winnings and donate. Also recommend replacing a significant portion of your new found fiat with PM.

Fri, 06/01/2012 - 09:04 | Link to Comment ihedgemyhedges
ihedgemyhedges's picture

Mad Hedge Fund Trader in disguise..................

Fri, 06/01/2012 - 09:49 | Link to Comment NewWorldOrange
NewWorldOrange's picture

I did! Check the post mentioned in the above post! Three weeks ago! Check my posts PERIOD. Nothing new here! All up arrows and lots of them on those! Envious hater much!? HAHAHAHAHA

I'll admit you losers aren't the Pollyannas that CNBC bloggers are. You view of reality is way more accurate.

But at least CNBC bloggers put their money where their mouths are! You fuckers are too buys PRAYING for a collapse from Mom's basement and too fucking stupid to DO SOMETHING ABOUT IT!

LMAO!

Fri, 06/01/2012 - 10:00 | Link to Comment jekyll island
jekyll island's picture

Well, you are proving my point.  Congrats on a good trade, I just don't want to hear about it over and over.  

Fri, 06/01/2012 - 10:08 | Link to Comment NewWorldOrange
NewWorldOrange's picture

Awwww...and here I was trying to help you brokedicks learn how to profit from all the gloom and doom...do you need someone to call you a waaaaaaambulance?

Fri, 06/01/2012 - 11:30 | Link to Comment jekyll island
jekyll island's picture

High risk, high reward.  Since you are shorting and have a margin account, make sure your profits can't get Corzined.  

Fri, 06/01/2012 - 10:01 | Link to Comment Harlequin001
Harlequin001's picture

sounds like next time we want your advise we just go ask Tyler eh...

Fri, 06/01/2012 - 09:03 | Link to Comment grey7beard
grey7beard's picture

Yeah, in hindsight I made a shitpot full of money too.

Fri, 06/01/2012 - 09:10 | Link to Comment ihedgemyhedges
ihedgemyhedges's picture

Me too.  I have been long of 30 yr T Bond for the last month, and went long of gold just prior to release of NFP report.

Sincerely, D. Gartman

Fri, 06/01/2012 - 09:05 | Link to Comment GMadScientist
GMadScientist's picture

You think you're Jacques Cousteau, but you're sitting in a kiddie pool on a moving truck.

Fri, 06/01/2012 - 09:32 | Link to Comment dudebum
dudebum's picture

Ze calypso is sailing into a zone of insolvency...

Sat, 06/02/2012 - 04:41 | Link to Comment StychoKiller
StychoKiller's picture

Liquidity, liquidity everywhere and nary a Drachma to spend!

Fri, 06/01/2012 - 09:22 | Link to Comment Al Gorerhythm
Al Gorerhythm's picture

Here it comes BART (fat finger) Chilton! Tell your four colleagues that they, like you, are "Piss shit cunt cocksucker motherfucker fuck tits" bastards and you got it comin.

Special thanks to: (Rich Bagg.) Comment ....

2481356
Fri, 06/01/2012 - 09:37 | Link to Comment Harlequin001
Harlequin001's picture

aren't all those words on the 377 word FBI watch list?

Fri, 06/01/2012 - 09:45 | Link to Comment Tarheel
Tarheel's picture

FUCK Secretary of Labor Solis! That dumb bitch just went on CNBS and was spouting nothing but bullshit.

Fri, 06/01/2012 - 08:55 | Link to Comment Harlequin001
Harlequin001's picture

Now who could possibly have foreseen that?

Fri, 06/01/2012 - 09:01 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Shocking really. Hold on......my shocked face is around here somewhere.

 

Fri, 06/01/2012 - 08:55 | Link to Comment jekyll island
jekyll island's picture

Wow, oil is in a freefall.  Sure picked a good month to drive to the Grand Canyon.  

Fri, 06/01/2012 - 09:03 | Link to Comment bdc63
bdc63's picture

... I sure picked a good month to go long SCO ... it's going to be a GOOD day ...

Fri, 06/01/2012 - 09:04 | Link to Comment John Law Lives
John Law Lives's picture

Doesn't bother me one bit to see rich oil oligarchs take a hit in the wallet.  Let oil fall to $60 and watch those greedy bastards jump up and down and scream and yell.

Fri, 06/01/2012 - 09:16 | Link to Comment RiverRoad
RiverRoad's picture

And that's just what they were doing before Bush Senior got elected.  After that, it's been all cake and candy for them.  Lots of chickens coming home to roost here.

Fri, 06/01/2012 - 09:31 | Link to Comment Dr. Richard Head
Dr. Richard Head's picture

I am curious as to why the price at the pump doesn't match the price of the barrel?

Fri, 06/01/2012 - 12:41 | Link to Comment John Law Lives
John Law Lives's picture

This older (2007) article offers an explanation for that:

http://articles.cnn.com/2007-06-26/us/fa.money.gas.prices_1_gasoline-pri...

 

Fri, 06/01/2012 - 09:39 | Link to Comment eclectic syncretist
eclectic syncretist's picture

Very obvious DECOUPLING BETWEEN PRECIOUS METALS AND STOCKS!  The market is telling us that June 1, 2012 is a great buy point to load up on cheap gold and even cheaper silver, especially since they have been consolidating for so long.  Expect silver over $40 by year end.

 

Shorting some ZSL and DUST long-term for max profits.

Fri, 06/01/2012 - 09:43 | Link to Comment chunkylover42
chunkylover42's picture

It would be nice to hear somebody complaining about the speculators now that oil has gone from $110 to $85 in 3 months.  You know, just for consistency.

Fri, 06/01/2012 - 08:57 | Link to Comment bdc63
bdc63's picture

Neil Kashkari just 'announced' QE3 on CNBC ...

Fri, 06/01/2012 - 08:57 | Link to Comment jekyll island
jekyll island's picture

Well it's official then....

Fri, 06/01/2012 - 09:33 | Link to Comment Dr. Richard Head
Dr. Richard Head's picture

About as official as their call this morning on the upgrade to buy on CLX or Alan Greenspan being drug from his seat in hell to blame the economic downfall on the Euro non-sense while neglecting to mention the true derivatives culprit.  Fuck those camera jockeys.

Fri, 06/01/2012 - 08:58 | Link to Comment LetThemEatRand
LetThemEatRand's picture

I wonder what round number of future tax obligations for all of us turned into immediate cash for his friends Kashkari deems appropriate this time?

Fri, 06/01/2012 - 09:08 | Link to Comment CClarity
CClarity's picture

Enough with Greece leaving the Euro already . . . smart money is on Germany leaving the EZ - let the periphery keep the common currency.  Germany back to Mark, UK keeps pound, Swiss have Franc,  Nederlands back to fav etc etc etc.  

Believe it or not, this will work.  Sure, scrambly initially, some bad outcomes, but better than the slow extend pretend path that is accomplishing nothing but worse and worse.

 

Fri, 06/01/2012 - 09:21 | Link to Comment Harlequin001
Harlequin001's picture

of course it will, and as the euro plunges so does their euro denominated obligations. It's the smart move, leave the socialists with the disaster that is the common currency...

Fri, 06/01/2012 - 09:27 | Link to Comment franzpick
franzpick's picture

Germany back to the mark, with some new PM coinage stamped "Nein-Nein point Nein-Nein-Nein".

Fri, 06/01/2012 - 09:09 | Link to Comment Al Gorerhythm
Al Gorerhythm's picture

In other news; Kim Cardashinin just bought some new shoes.

Fri, 06/01/2012 - 09:22 | Link to Comment Harlequin001
Harlequin001's picture

and breaking news, she might even wear tham...

Fri, 06/01/2012 - 08:57 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

Looks like a belts, suspenders and cup day. 

BTW, nice meter in the headline.

Fri, 06/01/2012 - 08:57 | Link to Comment Gief Gold Plox
Gief Gold Plox's picture

And while I'm watching Rollover. Lol.

http://www.youtube.com/watch?v=RDWWENGUhO4

Fri, 06/01/2012 - 09:01 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Account 21214

 

Fri, 06/01/2012 - 08:59 | Link to Comment madcuban
madcuban's picture

nice alliteration in the title.

Fri, 06/01/2012 - 09:17 | Link to Comment brooklynlou
brooklynlou's picture

Tyler's a poet and he didn't even know it ..

Fri, 06/01/2012 - 09:00 | Link to Comment HD
HD's picture

Yes it true, the job numbers blew, S&P longs are screwed...

Fri, 06/01/2012 - 09:00 | Link to Comment writingsonthewall
writingsonthewall's picture

I don't to get anyone too excited - but FB is already down over 3%  nearly 4% in pre-market.

 

Did you see it yesterday? Someone desperately tried to save the E.o.d price with an 'all in'.

 

Do you think it was Morgan Stanley?

 

Can the market remain rational longer than MS can stay solvent?

 

 

Fri, 06/01/2012 - 09:02 | Link to Comment writingsonthewall
writingsonthewall's picture

UPDATE.

Now down well over 4% - someone is getting out today - looks like yesterday's finish was the last throw of the muppet catching dice!

Fri, 06/01/2012 - 09:02 | Link to Comment disabledvet
disabledvet's picture

Jamie Dimon trying to save his job more like it.

Fri, 06/01/2012 - 09:00 | Link to Comment slackrabbit
slackrabbit's picture

Wow - did some just happen while i built my new pc - i knew i shouldn't have done it today - and the queens long weekend to boot.

Should make Tuesday interesting

Fri, 06/01/2012 - 09:01 | Link to Comment Conman
Conman's picture

Futures off the lows! QE trade already on? Unbelievable.

Fri, 06/01/2012 - 09:05 | Link to Comment bshirley1968
bshirley1968's picture

When that is ALL there is or the ONLY game in town, it has to happen with regular frequent occurrence.  I am not talking about QE, but rather the HOPE of QE.

Fri, 06/01/2012 - 09:25 | Link to Comment Captain Kink
Captain Kink's picture

This is exactly the news that "forces" QE. And how long will the morphine high last this time? 

Fri, 06/01/2012 - 09:41 | Link to Comment franzpick
franzpick's picture

Nixon, Carter and others dealt with their emergencies using Saturday announcements, but this credit collapse may require an entire weekend at bernies, and will require a complete credit-equity market seizure.

Fri, 06/01/2012 - 09:27 | Link to Comment Common_Cents22
Common_Cents22's picture

not unbelievable.   in the world of HFT, minutes is an eternity.

Fri, 06/01/2012 - 09:01 | Link to Comment realtick
realtick's picture

By putting that inane bubble around your charts you are making Joe Weisenthal and Business Insider look good.

Is that what you want?

Fri, 06/01/2012 - 09:01 | Link to Comment dereksatkinson
dereksatkinson's picture

The stock market isn't as oversold on an intermediate term basis so stocks wont benefit as much.  Gold has been down for 4 months in a row and has been deeply oversold.  Gold had HUGE spec short interest and HUGE commercial short covering. 

 

I guess my point is...  As much as everyone wants to say the markets have been correlated, they haven't been.  The magnitude and duration of corrections have been different.

Fri, 06/01/2012 - 09:04 | Link to Comment disabledvet
disabledvet's picture

Who knew a positive jobs print could be so devastating! I can't wait for plus 1000!

Fri, 06/01/2012 - 09:04 | Link to Comment YC2
YC2's picture

Id say about 10% more downside before I start scaling into stocks in my hostage 401k money.

Fri, 06/01/2012 - 09:03 | Link to Comment Debtless
Debtless's picture

Fuck QE and all of the people who need it to sustain the status quo.

Fri, 06/01/2012 - 09:05 | Link to Comment Itch
Itch's picture

DAX down 4% now, now thats pain!

Fri, 06/01/2012 - 09:10 | Link to Comment Conman
Conman's picture

And us futures barely down 1%, what's wrong with that picture

Fri, 06/01/2012 - 09:17 | Link to Comment Rubicon
Rubicon's picture

Pardon

Fri, 06/01/2012 - 09:20 | Link to Comment SheepDog-One
SheepDog-One's picture

Exactly....we're supposed to see confirmations tht 'QE3-4-TheBigOne' are now here, yet we're STILL only 5% down from highs? They can show a few -5% down face melting days in a row before I'll buy any of this 'QE comin any second' nonsense.

Fri, 06/01/2012 - 09:28 | Link to Comment junkyardjack
junkyardjack's picture

I totally agree, how can 5% off and being basically flat for the year drive QE3.  I think unless the market totally unhinges in the next 3 weeks Bernie won't have any ability to print.  The way commodities are collapsing I expect the market to follow the trend soon

Fri, 06/01/2012 - 09:30 | Link to Comment SheepDog-One
SheepDog-One's picture

Yea! Still UP for the year! This little action isnt the 'QE crisis' not by a longshot.

Fri, 06/01/2012 - 09:10 | Link to Comment Conman
Conman's picture

And us futures barely down 1%, what's wrong with that picture

Fri, 06/01/2012 - 09:15 | Link to Comment Arisu
Arisu's picture

Yeah. The insolvency procedure of one of the largest drugstore chains "Schlecker" has failed and their staff consisting of about 14,000 employees will all be laid off within the next 4 weeks, and the 2800 stores are closed down.

Fri, 06/01/2012 - 09:05 | Link to Comment RazorForex
RazorForex's picture

The technicals were screaming long gold since yesterday!

http://www.youtube.com/watch?v=WvqtwTAnj5g

Fri, 06/01/2012 - 09:10 | Link to Comment Swarmee
Swarmee's picture

Your hindsight post has post-predicted this perfectly! Amazing! How do you do it!?

Fri, 06/01/2012 - 09:15 | Link to Comment RazorForex
RazorForex's picture

video was posted yesterday, NOT it hindsight!!!

Fri, 06/01/2012 - 09:27 | Link to Comment Swarmee
Swarmee's picture

"august profit target of 1590/1600" and current spot price is 1588, what an amazing delta to grab, $2. Also the immediate spike on NFP shows this is not a technical gain but a knee-jerk anticipating QE, still not seeing any correct prediction based on technicals, more like luck on NFP reaction.

Fri, 06/01/2012 - 10:58 | Link to Comment OhOh
OhOh's picture

Yes excellent prediction. As was Screwtapes ,

 

"Here's the $GOLD:$CRB index from last post, which was discussed a bit in the comments. Breakout? A few more up days, and it will certainly start looking like the next big move for gold as a safe haven is upon us."

 

see  http://screwtapefiles.blogspot.co.uk/

Fri, 06/01/2012 - 09:06 | Link to Comment bshirley1968
bshirley1968's picture

Off topic, but so indicative of the day.  The Irish (their leadership) has just voted to stay on the Titanic.......and they are CELEBRATING!  Of course one look at Irish history would have told you this was to be expected.

Fri, 06/01/2012 - 09:08 | Link to Comment digalert
digalert's picture

I love the smell of Napalm (QE) in the morning...

Fri, 06/01/2012 - 09:10 | Link to Comment jimmyjames
jimmyjames's picture

as Gold pops (QE hope?)

***********

Nope-

Default risk amped up--same as it's been since 01-

This is how a strong currency trades in a deflationary environment-

Fri, 06/01/2012 - 09:09 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

But...but...but...CNBC said gold was no longer safe.

Fri, 06/01/2012 - 09:14 | Link to Comment Infinite QE
Infinite QE's picture

Anyone that listens to what CNBC says deserves the arse fecking they get.

Fri, 06/01/2012 - 09:21 | Link to Comment RockyRacoon
RockyRacoon's picture

Some people like that sort of thing.  Not saying I do, nor am I saying there is anything wrong with it.  Just pointing it out... so to speak.  Maybe I should quit now.

Fri, 06/01/2012 - 09:10 | Link to Comment monopoly
monopoly's picture

I guess the question is can the inmates wait till the June meeting to announce some QE bullshit which will put a bandage on the gaping wound for a few trading days until the patient goes back into a coma? Going to be an interesting first day of June folks. Buckle up.

Fri, 06/01/2012 - 09:11 | Link to Comment Roland99
Roland99's picture

EURUSD on a jackhammer of a pogo stick.

 

Airdude : Getting below 700 now, still going down. 675, 650, 625, he's holding. . .no, no he's down, he's down.
 Kramer : Sound your alarm bell, now.
 Attendant: Alright now everybody, get in crash positions
 Kramer : Put down 30 degrees of flap. Striker now listen to me
 Remember your brakes and switches, get ready to fly it out . . .
 Airdude : He's all over the place, 900 feet, up to 1300 feet . . . what an asshole.
Fri, 06/01/2012 - 09:11 | Link to Comment sawman
sawman's picture

Well Mr Munger/Buffett - Buy stocks avoid barberous relic gold - Hows that working out for you then.

Fri, 06/01/2012 - 09:12 | Link to Comment Satan
Satan's picture

PPT is a go.

Fri, 06/01/2012 - 09:13 | Link to Comment MFL8240
MFL8240's picture

Obamas economy is doing great after  6 triliion in handouts to his followers. The joke is coming to a head!

Fri, 06/01/2012 - 09:28 | Link to Comment brooklynlou
brooklynlou's picture

Wait till the leveraged buyout on the back of a European fire sale occurs. All those trillions of dollars collected and stored as cash in corporate coffers will be used to basically own Europe.

Somewhere Bernake, Bush and Obama are having breakfast, ribbing each other and going "I drink your milkshake! I drink it up!"

Fri, 06/01/2012 - 09:13 | Link to Comment caimen garou
caimen garou's picture

they always looking for me pot of gold,he he he he!

Fri, 06/01/2012 - 09:14 | Link to Comment SheepDog-One
SheepDog-One's picture

Show me a few -5% down days in a row and then MAYBE I'd believe some of this 'QE surely coming any second' nonsense.

Fri, 06/01/2012 - 09:14 | Link to Comment midgetrannyporn
midgetrannyporn's picture

the bernank is a pig.

Fri, 06/01/2012 - 09:19 | Link to Comment XtraBullish
XtraBullish's picture

XtraBullish yesterday on June Gold at $1558, July Silver @ $27.18 and 400 Goldcorp July 38 calls at $1.90. Thanks Tyler - I owe you buddy!

Gold IS the last standing 'safe haven" despite what all these mutts are quacking off about...you price gold at $3,500/oz against all that Eurozone (and U.S.) debt and collateralize the paper with the tonnes and you have the solution. The tonnes are FINITE and the Euro/U.S. debts are FINITE so the only VARIABLE is the PRICE of gold.

Coming soon to a theatre near you.....

Fri, 06/01/2012 - 09:22 | Link to Comment ArrestBobRubin
ArrestBobRubin's picture

Bill Murphy of GATA just pushed this update out. I trust he won't mind me posting it for ZH readers.... See Le Metropole Cafe

Le Metropole Members,

RARELY do I send out an email alert, but since I have not
seen anything like this in 13 years, I thought it advisable.

The US jobs report was a disaster, not even aided by
a substantial increase in the birth/death model. The
DOW is called 180 lower, the euro is tanking, but gold
is SOARING and has the general investment world stunned.

Will get into this in MIDAS later. The point is this
is the time to be paying attention to what is going on out
there. What is occurring in gold in terms of its action
of late, and today, is  unprecedented, at least in terms
of me watching the price action every day for over a decade.

Chaos not only looms, you can smell it. The Muppets on
CNBC are as dour as they can be.

Fri, 06/01/2012 - 09:36 | Link to Comment brooklynlou
brooklynlou's picture

Europe is done. Toast. The panicked movement to any safe haven is starting. US bonds are tanking (people will take whatever Bernake will offer them), German and Swiss bonds are negative (you pay THEM to not steal your money). Gold will rise temporarily while the fuse is hissing. Once the boom happens, gold will tank hard.

Fri, 06/01/2012 - 09:21 | Link to Comment caimen garou
caimen garou's picture

plunge protection team wont allow -5% for any length of time!

Fri, 06/01/2012 - 09:21 | Link to Comment Stock Tips Inve...
Stock Tips Investment's picture

I think both the fundamentals of the global economy (mainly in Europe) as well as technical indicators seem to point out that the stock market continue to fall before it starts to rise. As this goes against Bernanke's plan and increases the risk of the destruction of the Euro, it is possible to see the Fed and ECB trying to take desperate measures (QE3?). In any case, there are great opportunities to make money with these trends.

Fri, 06/01/2012 - 09:23 | Link to Comment caimen garou
caimen garou's picture

plunge protection team working on it as we speak

Fri, 06/01/2012 - 09:32 | Link to Comment SheepDog-One
SheepDog-One's picture

Just show more how 'QE comin now' is just a fantasy....emergency PPT rescue ensues. Go ahead and drop it 5% today Ben....or I just call total BS on the QE rumor driven market.

Fri, 06/01/2012 - 09:24 | Link to Comment junkyardjack
junkyardjack's picture

Gold being manipulated up, don't fall for the trap

Fri, 06/01/2012 - 09:45 | Link to Comment lakecity55
lakecity55's picture

I'm very long in PMs. It's fun to watch it take off, though.

Fri, 06/01/2012 - 09:29 | Link to Comment RockyRacoon
RockyRacoon's picture

Worth a repeat:

Here is an emblematic photo from about 1913 or so.   The caption reads, "Washington, D.C. "Storm damage. Between 1913 and 1918." Somewhere under all this rubble, I suspect, is a narrative waiting to be unearthed by a Shorpy history detective. Harris & Ewing Collection glass negative."

Here's the link: http://theautomaticearth.org/images/afterthestorm.jpg

Note the building facade is propped up with a few lengths of lumber.   The entire building is destroyed, but the "image" must be maintained.

It's the story of the U. S. since the 1913 era -- Federal Reserve System established.

Fri, 06/01/2012 - 09:33 | Link to Comment Bastiat
Bastiat's picture

1600, uncivilized!

 

Fri, 06/01/2012 - 09:33 | Link to Comment phaesed
phaesed's picture

It's almost done people.... then rates should level and rise for about 30 years.... Wish I had made more money off my damn call. :) Cheers all.

Fri, 06/01/2012 - 09:37 | Link to Comment caimen garou
caimen garou's picture

spin up, traders on fox b screaming buy, buy,value, value, qe,qe,what a fraking joke

Fri, 06/01/2012 - 09:43 | Link to Comment lakecity55
lakecity55's picture

I'm riding this PM market UP like a rocket!

Fri, 06/01/2012 - 10:30 | Link to Comment JOYFUL
JOYFUL's picture

Rockit, baby!

We goin 90 points 2 day! Overloaded springs sprung!

Fri, 06/01/2012 - 11:19 | Link to Comment Floodmaster
Floodmaster's picture

Save the trees, buy gold.

Fri, 06/01/2012 - 11:27 | Link to Comment onebir
onebir's picture

What's going on with EURJPY? Wouldn't SNB be dumping EUR buying JPY? Is Tyler saying that's why  the JPY opened so strong? But then why'd it weaken again so fast - JGB intervention?

Signed: confused of (confused|stupid)ville.

Fri, 06/01/2012 - 13:21 | Link to Comment Random_Robert
Random_Robert's picture

Bond yields are cratering... everyone is front-running the Fed on expectations of QE.

 

However, bond yields are the rope that ties the Fed's hands...

 

The Fed needs a yield cushion in order to spin a public story around making bond purchases.  When yields are already in the crapper, driving them lower adds not even the IMPRESSION of economic stimulation in the broader economy.

 

If the Fed were to announce direct Treasury bond buying here, even the 3rd graders out there would be screaming "debt monetization" from the rooftops.

 

Therefore- The Fed is going to ass-rape  the bond market by announcing "no action" in June. 

 

In fact. I would not be at all suprised if the COMEX Gold buyer in size this morning is not western central banks (incuding the Fed)

 

The truest Kung Fu master knows his opponent's next move better than his opponent does.

 

 

 

 

Fri, 06/01/2012 - 14:09 | Link to Comment Alpacanio
Alpacanio's picture

As the chosen one speaks, see stocks plummet. Golds up $57.60 ATM.

 

Edit: $58.80

 

Edit:$62.80

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