S&P Futures Down 9, As Gold Kneejerks Over $1890

Tyler Durden's picture

Nothing surprising in the premarket action with ES open for trading despite Labor Day, down about 9 points at its worst, following weekend concerns of yet another European apocalypse. Elsewhere, gold is enjoying the fact that the only bearish downside is potentially a technically overbought formation and is surging right off the bat passing $1890 on the kneejerk then reconfirming slowly. As a reminder, a nervous Japan arrives on the scene in 2 hours, followed by an insolvent Europe, and no US-based HFT available to rescue the world tomorrow.

ES:

Gold:

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RockyRacoon's picture

Off and running!   I'm enjoying the ride, but then I ain't got no dog in the Wall Street fight.   Got lotsa popcorn.

markmotive's picture

Booya! The Gold-to-S&P 500 ratio still hasn't hit it's all time peak. Gold still has some ways to run...or the S&P 500 has some ways to fall...or both.

 

http://seekingalpha.com/article/288542-s-p-500-to-gold-ratio-has-not-yet...

DoChenRollingBearing's picture

http://www.sgxniftydowfutureslive.com/index_files/DOWFUTURES.htm

has DAX 30 and CAC 40 futures down some +/- 3%.  Ugly.

Gold up a bit ($5.00) depending on whose numbers you look at (8:17 PM ET).

spiral_eyes's picture

the real figures we need to be looking at are the djia:au ratio. gold still got a LONG way to run. long-term trends tend to overshoot. we're at 1:8 right now. i expect gold to hit 2:1.

http://azizonomics.com/2011/09/01/why-nouriel-roubini-is-wrong-about-gold/ 

topcallingtroll's picture

I am not sure why gold has to stop at parity with the DOW.  After all if you look at the chart there are what?  Three data points?  I am not so sure that makes a great resistance over let's say a 500 year chart.  Maybe the once in 500 year event is going to occurr now rather than 200 years from now.

Smiddywesson's picture

 

What was the gold to the market index in Zimbabwae, Argentina, or Weimar Germany?  All of these ratios will become meaningless as the crisis progresses.  

I think they will pull the plug and put us on a gold related standard before it comes to that, but in this environment, gold has no price target.  

There is no fair market value for the last seat on a lifeboat.  People will pay what they have to for safety when they have to have safety.  

Janice's picture

Hey Rocky!
Good to hear from you. All is well in Florida.

RockyRacoon's picture

Where ya been !    It's tough holding  down this place all by myself!

Tompooz's picture

did we just see a flash crash in platinum?

http://www.kitco.com/charts/liveplatinum.html

What happened?

 

laomei's picture

this couch is mine

Fate's picture

I be strokin'!  That's what I be doin'.

max2205's picture

Traders wake up in Kansas Tuesday morning....toto, toto?

DoChenRollingBearing's picture

THAT is one more good reason to check ZH on weekends!

rajat_bhatia's picture

I'm going to kill my self and my family with morphine before i have to face the coming upheavel

laomei's picture

at least have the decency to kill a few politicians/bankers/ceos on the way out

rajat_bhatia's picture

as if that would stop the coming war, Seriously , do you guys see any hope for humanity left? we are just too many of us here on this planet

flacon's picture

too many of us here on this planet

 

Those who live by the Thomas Malthus, die by the Thomas Malthus. 

tmosley's picture

If only that were the case.

But instead, they troll message boards trying to get OTHER people to kill themselves, or to submit for sterilization if they can't FORCE them to do it.

Ursa Major's picture

The others slowly starve to death...one doesn't actually have to believe - Malthusianism works regardless!

Shirley Wilfahrt's picture

Leave your family alone you fucking whiny bitchass pussy....who the fuck are you to decide their fate??

 

DosZap's picture

rajat,

Who fed you that line of crap?.

Too many people on the planet,is BS.

The state where I live (without any farmland) could hold every family on earth, in a home sized  1200 sq ft, w a small yard.

That would leave the rest of PLANET EARTH (without ONE person living on it) for food growing, and raising animals, and enough resources to feed quadruple that many folks easily.

The EUTHANASIA crowd, Progressives, and the Global elites spread this crap.

 

topcallingtroll's picture

surrounded by a hundred miles of families in 1200 square foot homes all packed together like sardines?  I am beginning to think that Rajat may have a point with that morphine thingy he is talking about.

Libertarians for Prosperity's picture

 

 

That's because you're a libertarian and you're easily seduced by thoughts of mass murder, chaos, violence and anarchy. 

Kill politicians!  Kill bankers!  Death to society! Anarchy!  The US is FINISHED!  Burn World Burn!  Canned food!  Bullets!  Bullion!  Vote Libertarian 2012!

Stack Trace's picture

Are you being sarcastic in all your posts are you really as annoying, unoriginal, and mainstream as your posts imply?

Just want to make sure that I am not missing the humor.

DoChenRollingBearing's picture

@ top,

DosZap's point is that there is plenty of room for even a LOT more people.

RESOURCES are a problem...

DosZap's picture

topcallingtroll@19:58,

It was a simple point about not enough earth, and resources for our population on the planet.

If one US state could hold all the people on the planet, and in a 1200 sq ft home, w/a small yard..................

That would leave a hell of a lot of empty productive property now would it not?.

I think you were trying to make a funny,and be my guest try the morph thingy.

It takes me 10-11 hrs to drive from the east side of my state to the west at 75mph+, and the same(or more) from the northen most point to to south.

Then we could talk  about Alaska.

DoChenRollingBearing's picture

Mucho frio en Alaska!

I'll take Texas anyday!

 

EDIT:

Alaska has lots of room for trolls though.

DosZap's picture

DoChen,

Yeah, it's hotter n hades here (as usual), but it still beats  freezing your nads off.<grin>

Also, if the SHTF does happen, I cannot think of a better place to be.................lotta good old boys still here, that know how to git er dun.

Prometheus418's picture

Split the difference, and move to Wisconsin.  Hell, we get hotter than hades, and cold enough to freeze your nuts in the space of a single week sometimes.

But, we do have plenty of water- and some tasty cheeses.

DumFarmer's picture

And there'd be plenty of cheap fuel to truck it to your doorstep, and how about water? Gonna truck that too? What a narrow minded fool. A 1200 SF house is not the only thing needed to live. But please give it a try, it'll keep you out of my hair. Don't forget your TV.

Enceladus's picture

But you'd have to live in Texas, and it's just not worth it!

sun tzu's picture

I prefer a bankrupt state with double digit unemployment and authoritarian nanny-state government

IQ 145's picture

Ha, propaganda; isn't it wonderful. With statistics you can prove anything you want.

Strike Back's picture

There are too many people for the elite to feel comfortable with.  So they spread this line of thinking and coupled with earth worship, they have the crowds you are talking about actively advocating the position that over 75% of the earth's population need to be exterminated, the rest to live in mud huts (sustainability, right?) and the rich "enlightened elite" to manage the population can live in glittering cities with perfectly efficient green technology. 

Don't worry though, these shit ideas come and go.  Arrogance is the inherent flaw of corruption.  This zeitgeist will pass as so many others, when the weight of their flalwed schemes come tumbling down on themselves. 

Troll Magnet's picture

no hope for humanity but...
there are chicks to bang and...
and...
there are chicks to bang!

T1000's picture

Just stop drinking water. It would only take 3-4 days. Gone.

But really, why don't you fight for your family. You don't need to save humanity, just your little ones and your spouse. The basic necessities of life are not too difficult to get, depending on your location. Get next to a lake. You live in a teepee (tent) drink the water, eat the fish. Humans have been doing this for 80,000 years.

Smiddywesson's picture

In a prosperous world, a war is always coming.

We fill every niche until we can't and then we have a population crash.  Why mourn our innate nature?  We have 7 billion lives dependent upon an unsustainable system, some will die.  Same issue, different scale, different century.  

 

BurningFuld's picture

where you getting the morphine from?

mt paul's picture

got " tusked " by a big walrus once

doctors gave me the morphine ..

 

thought about

moving to Afganistan 

and growing poppies ...

chistletoe's picture

why Afghanistan?

 

If you planted a field of poppies in westchester County,

do you think anyone would think any more about than, "a little eccentric ..."

 

heck, half of them wouldnt even know what they were ....

 

pretty red flowers ....

donsluck's picture

Standard sentence is a year per little bitty plant. It takes one plant for say, two doses of raw opium. You're looking at many years, brother.

DosZap's picture

BurningFuld  @18:36.

Hell he's in India or Paki likely, buy it off the shelves.)if his handle is an indicator), sure sounds like a pussy.

rajat_bhatia's picture

All those disliking this thought, need to realise the vulnerability of their families, their children to the Chaos that will engulf this country

saulysw's picture

Don't panic. Take it one day at a time, and if you believe in what you say - prepare for what you believe is coming. Don't just give up.

DoChenRollingBearing's picture

Green

Consistent preparation is key.  Get to it!