I have added a new feature on the new site at the last minute in which my programmer wanted to murder me. So, we have moved the launch to Monday for vigorous testing over the weekend. No rush. I want things to be as smooth as possible, granted there will be glitches, but those will be growing pains. Moving on.
Todays market action spoke volumes, from 2:30-4. The bank stocks, especially Morgan Stanley and JP Morgan got hammered. I am telling you right now, I see a lot of selling in Morgan Stanley. Even when futures turn up, I see someone trying to unload it. Something is not right with Morgan Stanley, and I suspect we should be hearing of its shit coming down the tube sometime in the near future.
As for the silver and gold, we have come to that point whether someone needs to put in a strong bid, or we will be seeing $38 and $1650 shortly which at that point are my next buying opps. In silver we are hugging an ascending trend line and MA, and in gold we are close the MA bounce I want to see.
The next two days should paint an interesting picture, whether todays candles were 'fuck job' candles we will see tomorrow. I suspect they are not, as I put on a new trade for the $50 VXX call OCT to hedge my SLV calls that are following the market which is in a new state of Barney Rubble - trouble.
The fundamentals for the PM's have gotten stronger, I am not worried. At all. My PHYZZ stack sleeps well and I wouldn't mind buying 5 more monster boxes at lower prices.
I shuda bot more silver bear (HZD)...
ReplyDeletetake serious caution here, pm's will hold up the best, but they will do terrible, and other commodities are about to do terrible terrible, like copper, because the chinese banks are quadruple leveraged to copper and use it like treasury bonds as LIBOR COLLATERAL, copper is 21% below the top that means whoever bought at the top is nearly wiped out
ReplyDeletethe only saving grace is economic calamity and panic selling will provide a buying pressure to counter SOME of the selling pressure in pm's This won't apply to other commodities
ReplyDeleteTom H Provident is a good little company !
ReplyDeletegipsytree Try this to the Dragons I bought one, thought what the hell, It's only FIAT..
http://www.apmex.com/Product/62665/2012_1_oz_Silver_Australian_Year_of_the_Dragon_Coin.aspx
CWN .. can you expand on this? You say commodities will do terrible. What's the time horizon that applies to that statement? If everything is going to do terrible, that means everyone is selling, but where is that money flowing to if commodities are also doing terrible?
ReplyDeletesgs.... so much for $75 by end of year... good call though
ReplyDeletethe money is flowing first into the dollar bill and then straight into the hands of the big players who loaned out all those dollars at 1% interest the past 4 years. Those big players borrowed it from the fed at .25%. If you can't pay off your debts, you go bankrupt, even at 1% interest you have to repay the principal
ReplyDeleteTruths1981,
ReplyDeleteIt seems that equities will do poorly in this environment but PM shares will go up. Earnings season is 2 weeks away I think the PM will decline slightly but not much! The same problems existed yesterday that exist today and tomorrow!
the deflation trade continues as the debts owed become overwhelming and obviously unpayable as people lose money in their investments (part of the goal of engineering a free loan environment) and therefore lose the principal. The deflation trade ends when the governments of large currencies absolve debt contracts with physical enforcement (they pass a federal decree or law that denies the most basic of human rights: to draw a contract and honor it) and then after that those large government put import/export currency controls and wage freezes designed to devalue their own and each other's currencies and resume lending unlimited amounts at 0% interest
ReplyDeletethis is the pain part of the inflation trade, where all the debtors must show hardship so congress and executive branch can gain popular support begin the next phase: break some key contracts and set precedent of destroying american citizen contract rights, thereby the state taking away individual autonomy
ReplyDelete@bflowers THANKS! Just placed my order $112.94 total with shipping for one coin! Man, if i didnt want one so bad. Damn AG! it's like a crackhead needing his/her fix. Can you imagine when generic private mint coins are going for this price. I can only image what the higher end bullion will be going for. STACK PHYZZ!!
ReplyDeletegipsytree I had seen it earlier, and went on a hunt to find it for you, then I had a brain fart and remembered it should still be in my History..lol Glad I could Help ! I wouldn't of gotten mine either if it wasn't for some nice blogger..lol
ReplyDeleteNo judgement here, I love pretty things as much as the next guy but ... and its a big but ... why the heck pay any more for silver and you have to??? round, maple, eagle, bars, it's all silver and it has a specific value. Just another jerk-off business capitalizing off us hard working schleps.
ReplyDeleteAnd Weather freekin unit ... sad that you feel the need to spam this, otherwise fine, blog with your lame ads. You can't seam to grasp that I wouldn't patronize your site BECAUSE of your cheap methods.
Commodity World News,
ReplyDeleteIs that from the Jackass, he's got a new one out today, haven had time to read yet!
Highrise.. I know how you feel.. I have a brother that moved to Arkansas fifteen years ago, chasing a dream of being linked up with his kids from a divorce... Things didn't work out for him, and he lives in a Ten by Ten Shed ! He dropped out of life ! Sitting on top of a Fifty thousand dollar piece of property back then.. He's not poor, but Very cut off.. He has some medical issues, but is not Stupid ! He dropped out of Life ! Why do you want to do that to yourself ! They won't Brain Wash you,, You will just Fuck them all UP ! Be Bold Man ! Your Very good with Words,, I'm not !I can use them in conversation and sound Much smarter, but I can't spell them.. lol Save people with your Knowledge. that's why your here ! On Planet earth that is..lol Don't let the Banksters Win ! Use their own Weapons Against them ! I enjoy reading your post ! You add a lot to this site ! And I Love you Man as well..lololololol
ReplyDeletemalcolm, I wrote my own posts with my own thoughts. Deflation makes sense when banks aren't being friendly to each other and lending. I am guided in my researches by three main guru sources, jim rogers, tyler durden, and clive maund who are you referencing by "jackass"
ReplyDeleteGents,
ReplyDeleteHave any of you heard of an economic forecaster named "Harry Dent"? He is saying strongly that real estate is going to get worse, especially in Canada and Australia (well duh!) and that PMs are in a bubble and that the USD and "high quality bonds" (whatever they are) are the best investment.
Looking at the market today it looks like the big players are dumping stocks and getting into the USD, which you would expect.
Anyone have any comments/opinions on this Harry Dent character?
Looking at his website he's not shy of making a buck out of his books and seminars which cost a lot of fiat to attend. Makes me a little suspicious as he is due in Australia for a few seminars/book selling tours with tickets starting at $497. I think I'd rather buy 10 x 1oz Kookoburras for that.
SGS, have you heard of this guy???
everyone knows of harry dent. he is a trend investor. he says everything but the usd is in a bubble, and he's right, but now finally some of the pm investment is coming from individuals who don't borrow at 1% to reinvest, and central banks are needing to buy gold to protect their currency. so now finally gold has another reason to go up other than unlimited free investment borrowing. The high quality bonds he is talking about are andrew carnegie's money, GOLD BONDS!!!
ReplyDeleteUSD and bonds either payable in gold or currencies backed by gold
ReplyDeleteHere's a look at Harry Dent's track record: http://www.avaresearch.com/avanew/articles/750/A-Look-At-Harry-Dents-Track-Record.html
ReplyDeleteCommodity World News,
ReplyDeleteJackass=Jim Wille, and nice work or elucidations!
Dent, LOL!
ReplyDeleteI would not give ANY credence to Dent. Do so at your own risk.
ReplyDeleteDeflation is a risk once the government comes close to balancing the budget and we see reasonable interest rates (10%+). When that time approaches, it is probably a good time to start unloading your gold and silver.
The ruling elite of the USA need big government and need their banks. They are NOT going to let the government or the banks go bankrupt. To do so would be to give up their power, which they certainly will not do without a serious fight.
They may call it twist or QE or something else or nothing at all. But the Fed is going to print. They have no choice.
Titus Andronicus,
ReplyDeleteAgreed on ALL counts!!!!!
Barry, is their "boy" the want him re-elected, QE3 will start early next year, follow Jim Rickards hes got the inside at the Fed, that way shit is better going into 2012. If not Paul is a shoe in!
Yeah my "Bullshit Meter" was in the red when I started looking into this Dent character. Looks like my BS meter is properly calibrated.
ReplyDeleteThanks guys, you backed up what I was thinking. Its no wonder I've never heard of him before.
Reading rumours on an FX site about a US investment house being in serious trouble.
ReplyDeleteCould this be Morgan Stanley?
here we go.... again, every single asset across the board just broke all technicals
ReplyDeleteheath harry dent spent a life studying and profiting from market moves like the one tonight, he is a contrarian with a lot of money from contrarian trades and publishings, you should give him some credence, and use his opinions to help form your own, hes not 100% right but hes right about deflation, the government lent out money that once people start losing in asset classes, like tonihgt, EVERYONE must fear sell to be able to have cash to meet their loan terms. debt is enslavement. the only way out is contract cancellation or more debt. now as pm investors we are dependending on more debt just like bankers started depending on bailouts til the government stopped at lehman
ReplyDelete