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waiting on benny bucks...
Gold's only going up because labor day's coming up and Irene "wiped out" the east coast. There will be a shortage and everyone knows that. Can't pull it out of the ground without labor. And labor day removes labor. After that, it will crash right back to $185(,000) where it belongs. Transitory tradition, what a barbarous relic that unedible piece of shit metal.
Or as Uncle Buff says: "It doesn't "do" anything! It doesn't even pay a dividend! It just sits there collecting dust! We could fit all of it in a 16m cube for crying out loud."
He forgot that it's the exponential opposite of inflation :(
who knows what the central planners do with gold...
be careful out there
jp morgan: "money is gold, nothing else"
so in reality, gold is a hedge not against inflation but against deflation — when gold rises and rises, the price of everything — put up against money, or i.e. gold — is deflating because money buys more and more. at one over-inflated stage, the DJIA:AU was 1:50. Now it's 1:5. It's going to parity. Maybe even 2:1
Heads up, Secret Service is going after gold coinage, specifically, liberty coinage. Anything containing the words "Liberty" or "In God We Trust" are now considered contraband.
The article can be found at www.prisonplanet.com
All we need is a smug and smiling David Tepper on CNBC... when do they pull that one out?
Thomas Donlan in last weekend's Barron's thinks that a surrpticious QE3 is ALREADY UNDERWAY. I think he is right.
But, such benny bucks will not reach us shrimps. So, what works? Gold...
You remember the RBS commercial:
"Don't talk, but act"
maybe this is now the new standard of the FEDS
wonderful. gold going up on low volume, same with crude.. dollar up today.. weird day.
justvreceived a email from us mint that the 2011 uncirculated eagles, NOT PROOFS are priced at 6 t fucking dollars each or slightly more than the proofs....
$60 benny bucks each will be cheap soon.
The 24hgold/eBay price vs. spot gold price widget shows only a 5% premium or so for Eagles to spot price of gold. This widget is imperfect, but may herald a divergence between physical vs. paper prices before long.
24hgold.com -- the widget is at the bottom of the home page.
Yeah. I was agonizing about paying $17 for proofs back in 1997. Damn those were expensive!
gold up, indices up, treasurys up, oil up, usd index up....
the correlation trade is kaputt
and the high frequency traders need to think about what happened....
We are seeing now the DEAD CAT BOUNCE.
It is that simple,
Hopium Bitchez ...
That all may be true - but with volume so utterly putrid (I Know - CNBC says it is to be expected in this Holiday Shortened Trading Week) - but that not withstanding - the volume to me seems to indicate that we very well may be in the throes of The Mother of ALL Distribution - and that once it ends - we WILL see a market colapse the likes of which has never been witnessed in modern history. 1228 - 1229 is my back of the napkin level to watch.
I think thats exactly what we're looking at, while Ben has everyone back to sleep dangling his QE3 carrot on a stick, theyre distributing like crazy with no intention of a $3 trillion printfest. I dont know what people are thinking, its not 2009 anymore, and it cant be done!
1227.61 is what our computer spits out. At least we are on the same page.
based on fib #s? just curious..
If you count the move off the 1101 low as an ABC - and if C = A - then you get 1229ish and yes - a .50 fib retrace comes in at 1228 and change as I recall - so there are two reasons to think the 1228 - 1229 area may be it -- but we won't know for sure until BEN and the machines confirm and we see more than 15 contracts trade on the way dwon.
70 point drop in the last 15 minutes on the Dow. The machines left the office early today.
All bets are off. The only sure thing is more bad economic data, monetary stimulus and the constant rise in the price of gold. Plan accordingly.
i give em one more day...two at the most
bear heads exploding everywhere
Why, because the DUH was up +19 points? Big deal. Distribution. Dont get too cocky there believing Bernank is YOUR pal.
@ bear heads exploding everywhere. This is the only way for the HFTs to steal money out of the market for now.
It's the ONLY way they can take the market up. Got to love the same old, same old crap they take up.
Parabolic stock: AZO and they talk about gold being such. They just put one in near where I live, one block away from a new AAP.
The Advance Auto part store is where the Rent-A-Center was. RCII was only open for one year. The town could not support it.
Better yet, the auto parts stores are canabalizing themselves. Now AZO and AAP both have other stores within 5 miles.
It's Unbelievable that they would do this. Wait till this does not end well. They will look worse than Sears Holdings.
What happens when the shorts are out and there is NO bid under it all. Hmmmm. Then the market explodes !!!
Loooooooot's of unemployed trying to keep thier cars running themselves these days.
Better yet, in my neck of the woods, everywhere that Advanced Auto builds is either right next to another auto parts store, or right across the street from one. I noticed it right away when AAP first came to Oklahoma. They built across the street from an O'reillys on Air Depot Boulevard. They built right next door to an AZO on NE23rd and Douglas Avenue. I thought, "how rude and in your face can another company get?" To this day I refuse to shop in AAP stores, have not stepped foot in one yet.
Hope they go under big time.
The Mother of ALL Distribution
The Mother of ALL Distribution
You saw a nice dose of it at the close. Again, and because the stock market is driven by mentally retarded lemmings, everything [less gold and the dollar] traded as one.
Check any equity chart in the last ten minutes. As ES came off, liqiudation was the order...dumping all the over pumped shares into the puke buckets known as the ETFs.
Disgusting. As always, and with these same criminal bankers in charge of our markets, capital will not form and the Greater American Depression will roll on.
I'm beginning to think that was the plan this whole time. Squeezing someone quickly and really hard makes them pop.. applying a moderate amount of pressure over a long time makes them give in, give up and/or beg.
It is just more of the same...the continuing crime wave perpetrated by Wall Street.
Distribution big time....while stock bulls arrogantly primp and preen about their stocks going up and how bears are now screwed, good luck to them when the rug is pulled and theyre hitting the sell button like the ETrade baby losing everything in a bidless tanking market.
Bidless is exactly how I would describe equities in the AH session. Every one I follow is sitting there with nothing but air beneath it as the ES bid vaporized in the last ten minutes of the market.
And of course, our supposed financial advisors who were panic buying into the market today are showing just how much value they add to the whole "investing" thing.
What's wrong with this picture???
<-- QE3 Won't happen. Goldman is spreading Hopium & taking other side of trade.
<-- ZH is correct & what TIS said above defies the laws of The Bubbles&BananasBernank.
<-- [3rd Category] Let the QE3 and guillotines fly, bitchez.
I don't see it happening next month. If it was there would ne BIG hints coming out. Only the rumor mills are pumping qe3 here.
Don't forget Sep 7 (next Wed), Germany could throw a wrench into everything with their Supreme court votes and Bundesbag votes
Waiting on Zimbabwe dollars to fly out of his helicopter.
Ben, meet General Douglas Haig.
A monetary Somme, per se?
"STOCKS AND GOLD RISE AMID UNCERTAINTY: Here's What You Need To Know"
The above heading was copied from Business Insider - I'm not joking - and apparently uncertainty is bullish so I guess when we get the first couple of bank collapses the rally will go ballistic, no?
is there enough hopium left in the central planners tank to overcome a really bad NFP print on fri? QE3 or no will they be able to levitate the markets through a negative print?
I, for one, do not believe so. Again, the QE3 catalysts needs to occur...selling, risk aversion, fear and loathing, bears all over the BlowHorn [CNBC]....a sub 1100 S&P close. Today's algo driven, ES floating pop on talk of QE3 was for the suckers. It was for all the under performing active managers panic buying into the market, sold a bill of goods by the faster HFT boys.
We have had yet another short squeeze over the last five days...nothing much more than this.
At this rate by Sept 21 the DUH should be comfortably back over its all-time bubble high of 14,200 or whatever....ust in time for emergency trillions needed to 'rescue stocks' again.
Lol. If the stock market is still up here in late September...there will be no QE3. In fact, I believe there is a chance that no QE3 will ever occur.
Put me down for a "sell everythiing" market over the next two sessions.
Ben is LOVING his present 'QE3 carrot and stick' routine, THAT is his only real 'tool' at this point a hint and a wink at something that will never happen.
As I have been saying for months...Ben needs the dollar to be a lot stronger against a boat load of currencies [the dixie] before he can even consider pulling that trigger again. To do it now with stocks high and the dollar weak would create a dollar crisis which would consume ANY and ALL effects of the money printing effort...instantly. There would be no point in launching the next easing move without that dollar higher.
I know we are all talking about how it was talked about, but all we are seeing is a combination of short covering and the slower lemmings climbing aboard the rally...too late...as was the case when the slow lemmings were selling the market short in the hole two weeks ago.
And in the meantime, the Ron Paul story is picking up steam, as this conversation about the Fed is out there in John Q's public...and the political risk at the Fed is about as high as it has ever been. No one here seems to consider that.
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