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Upside surprise to 420k?
not til next week with the prior week negative revision
I don't think this will happen, but I wouldn't be surprised if we saw a 380-390k print. Something that drives the bull rally higher until all of the data starts to turn really negative. Prob won't happen, though.
399.995k. They'll forget to round up to the nearest whole person whilst diddling the figgers.
It's funny how it always works that way!
Jobless claims will not just surprise but shock the shit out of the hopium addicts. 440-450K. Book it.
I would like to see a 440-450 print today, but I don't think we are there yet. Plus, CNBS would find a way to spin it as a positive (i.e. The Bernank most definitely will launch QE3 XTREME to save us all).
A one week spike in jobless claims, even off by 15%, is not enough to change the Fed's decision to forego QEasing until the market crashes much further. They're going to stay behind the scenes with secret loans and cross-Atlantic fx lines in an attempt to stave off the credit collapse in Europe (and BofA).
I was just alluding to what CNBS would be talking to all day long. "Don't worry, this forces the Fed to act, we're saved!"
I suppose, but it'd be in vain. If I'm right, the selloff today will be large, and tomorrow's will be larger.
In the interests of balance on this pro - gold site , I would just like to say - I pity the fool that bought Gold in the last week or so.
It really depends on your investment horizon. I think most everyone here is buying physical gold with the intent to hold it... well... forever. So if they paid $1900 for it, that might not look good now, but 10+ years from now it's going to look like a steal.
A lot of people playing the paper trade got burned, I'm sure, but even if you bought paper last week you'd probably be looking pretty good a year from now.
Sure strategically if you have none of the stuff $1900 is as good as $2000 really .. but from a tactical perspective you got badly burned as the fever struck.
I am up to my tits in the stuff now - speaking as a euro buyer I won't get into this sauna until it reaches 950 - 1000 euro or the facts change a bit more.
Not expecting it to dip another $100 - $200 but who knows - the banks like making money out of volatility as that is all those poor broken creatures know.
Let's wait a week...
It would certainly be ill-advised to buy at a new record, but not necessarily wrong. Just not as correct as possible.
What I would pity is someone who bought at the record and sold right now out of fear. That's the true sucker who doesn't know why he's doing what he's doing.
My target for correction is around $1,600, but that may never happen depending upon what data is released and what Bernanke says.
Agreed. I'm looking at 1600-1650 as the most likely target. That would pull us back down to gold's 50 day moving average in a healthy move.
That would be rational, but I'm leaning towards hovering around $1,700 for the next 2-4 weeks. I think it'll just levitate for a while.
The ~30% drop from peak in fall of '08 gives thought to the possibility of a repeat since we're seeing the same thing happening again, but I think that because of how different the situation is now (Fed interventions) it won't suffer the same drop this time around. I think there's far more confidence in gold than there was at that time.
I figure a hover between $1,700-$1,750 for the foreseeable future.
I'd be perfectly happy with building a base around 1700-1750. That definitely seems logical.
Transitory POMO. Nothing to see here, please move along...
I don't see how the PhillyFed can out a -30 and not have an ugly claims number
I think the real tell is going to be next Friday's August payrolls number. I don't see how anyone would have been hiring much at all this month. And I wouldn't be surprised to see a huge downward revision to last month's #.
ahh, thats nothing, wait til you see the the Q3 GDP and downward revision on Q2 GDP....
I wish I could fast foward to take a look at Q3 earnings.
if you could do that, you would be part of the problem....
IN my defense, I would travel forward in time, take a look at Q3 earnings, then just wait there for everyone to catch up. I wouldn't come back and spill the beans or trade off of it. ;)
You must be in politics, I almost believed you :)
All the data/ results are manipulated .
This Casino revolves around Helicopter Ben
If Printing Master Helicopter Ben can print few more trillions and gift it to fraud street gang than Dow @ 13,000
If Ben says "enough is enough" Dow below 9.000
417k. No (immediate) reaction.
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