Danang Sailor
nullius in verba
And that, along with the actions of all of the Muslim Brotherhood front groups in this country, is why I'm still
investing in the same metals mentioned before.
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So Europe is about to melt down....
- Thread starter 300 H and H
- Start date
And that, along with the actions of all of the Muslim Brotherhood front groups in this country, is why I'm still
investing in the same metals mentioned before.
Yes there is and yes I am...
Actually I invested in it yesterday. I did it on the phone and don't have the paper work, So I cann't tell you the name of it. But I will when I can...
It may be too early,or not to be doing this...But if it crashes some nice profits will come of it, instead of looses..
Regards, Kirk
Kane
New member
P.M. Kitco Metals Roundup: Comex Gold Ends Weaker, at 4.5-Month Low, amid Bearish "Outside Markets," Weak Technicals
Tuesday May 15, 2012 1:58 PM
Comex gold futures prices ended the U.S. day session weaker Tuesday as prices fell to another 4.5-month low. The key “outside markets” turned bearish for the precious metals as the session wore on Tuesday, as the U.S. dollar index firmed and crude oil prices weakened. Near-term technical remain fully bearish for gold and silver, which is adding to selling pressure. June gold last traded down $5.10 at $1,556.00 an ounce. Spot gold was last quoted down $0.40 an ounce at $1,556.50. July Comex silver last traded down $0.373 at $27.98 an ounce.
The U.S. dollar index traded solidly higher and hit a fresh four-month high Tuesday, on fresh safe-haven demand due to the EU situation and the recent JP Morgan news. Crude oil futures prices were lower Tuesday after hitting a 4.5-month of $93.65 on Monday. Crude oil remains in a bearish fundamental and technical posture.
The European Union debt and financial crisis is still on the front burner of the market place. Tuesday’s developments included the latest collapse in talks among Greek politicians to form a coalition government. That spooked the market place a bit more. Also, German and Euro zone GDP data was stronger than expected. However, that good news was offset by Moody’s downgrading Italian banks ratings late Monday. That move was not surprising to the market place. There is also increasing talk that Greece will at some point make an exit from the European Union.
In other news, famed investor Jimmy Rodgers said on CNBC Monday afternoon that the selling pressure in many commodity futures markets recently is partly due to JP Morgan liquidating at least some of its long positions in commodity futures markets, in light of its $2 billion derivatives trading loss. Latest commitment of traders data from the CFTC does corroborate major speculator long liquidation in many commodity futures markets, especially crude oil. Rodgers also said he remains bullish gold and said this latest pullback in gold prices will prove to be a value-buying opportunity.
The London P.M. gold fixing was $1,556.50 versus the previous London P.M. fixing of $1,556.50.
Technically, June gold futures prices closed near mid-range Tuesday and hit another fresh 4.5-month low. Serious near-term chart damage has been inflicted recently. Gold bears have the solid near-term technical advantage. A 2.5-month-old downtrend is in place on the daily bar chart. The gold bulls’ next upside price breakout objective is to produce a close above psychological resistance at $1,600.00. Bears' next near-term downside price objective is closing prices below technical support at the December low of $1,528.60. First resistance is seen at Tuesday’s high of $1,564.40 and then at $1,575.00. First support is seen at Tuesday’s low of $1,546.80 and then at $1,540.00. Wyckoff's Market Rating: 3.0.
Tuesday May 15, 2012 1:58 PM
Comex gold futures prices ended the U.S. day session weaker Tuesday as prices fell to another 4.5-month low. The key “outside markets” turned bearish for the precious metals as the session wore on Tuesday, as the U.S. dollar index firmed and crude oil prices weakened. Near-term technical remain fully bearish for gold and silver, which is adding to selling pressure. June gold last traded down $5.10 at $1,556.00 an ounce. Spot gold was last quoted down $0.40 an ounce at $1,556.50. July Comex silver last traded down $0.373 at $27.98 an ounce.
The U.S. dollar index traded solidly higher and hit a fresh four-month high Tuesday, on fresh safe-haven demand due to the EU situation and the recent JP Morgan news. Crude oil futures prices were lower Tuesday after hitting a 4.5-month of $93.65 on Monday. Crude oil remains in a bearish fundamental and technical posture.
The European Union debt and financial crisis is still on the front burner of the market place. Tuesday’s developments included the latest collapse in talks among Greek politicians to form a coalition government. That spooked the market place a bit more. Also, German and Euro zone GDP data was stronger than expected. However, that good news was offset by Moody’s downgrading Italian banks ratings late Monday. That move was not surprising to the market place. There is also increasing talk that Greece will at some point make an exit from the European Union.
In other news, famed investor Jimmy Rodgers said on CNBC Monday afternoon that the selling pressure in many commodity futures markets recently is partly due to JP Morgan liquidating at least some of its long positions in commodity futures markets, in light of its $2 billion derivatives trading loss. Latest commitment of traders data from the CFTC does corroborate major speculator long liquidation in many commodity futures markets, especially crude oil. Rodgers also said he remains bullish gold and said this latest pullback in gold prices will prove to be a value-buying opportunity.
The London P.M. gold fixing was $1,556.50 versus the previous London P.M. fixing of $1,556.50.
Technically, June gold futures prices closed near mid-range Tuesday and hit another fresh 4.5-month low. Serious near-term chart damage has been inflicted recently. Gold bears have the solid near-term technical advantage. A 2.5-month-old downtrend is in place on the daily bar chart. The gold bulls’ next upside price breakout objective is to produce a close above psychological resistance at $1,600.00. Bears' next near-term downside price objective is closing prices below technical support at the December low of $1,528.60. First resistance is seen at Tuesday’s high of $1,564.40 and then at $1,575.00. First support is seen at Tuesday’s low of $1,546.80 and then at $1,540.00. Wyckoff's Market Rating: 3.0.
Kane we have something in common...
The Wyckoff's report. I know Jim personally as we are from the same county, and he does PR work for our Snowmobile club. See him every winter....
I wish he did the stock market as well....
Regards, Kirk
Added later...
The Standard & Poor’s 500 Index fell 0.6 percent to 1,330.66 at 4 p.m. New York time, dropping 2 percent in three days. The Dow lost 63.35 points, or 0.5 percent, to 12,632, the lowest since Jan. 19. About 7.3 billion shares changed hands on U.S. exchanges, or 9 percent above the three-month average.
The Wyckoff's report. I know Jim personally as we are from the same county, and he does PR work for our Snowmobile club. See him every winter....
I wish he did the stock market as well....
Regards, Kirk
Added later...
The Standard & Poor’s 500 Index fell 0.6 percent to 1,330.66 at 4 p.m. New York time, dropping 2 percent in three days. The Dow lost 63.35 points, or 0.5 percent, to 12,632, the lowest since Jan. 19. About 7.3 billion shares changed hands on U.S. exchanges, or 9 percent above the three-month average.
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Watch skf if you like shorts. Watch closely, I think it's a frickin machine not people, but it shows where things are going. Last I checked when I left the office it was at +1.1% or so. IF you think there's going to be 50% correction, this is what you should try to buy. Last 50% correct resulted in this etf at about $1,000 a share; today at 46 or so. 1000/46 is much better than say gold going to 4500/1560.
Betting on gold is akin to shorting the economy; at least to my feeble mind. So why bet on such a poor performer as gold when you can get into some real performance.
Shorting is not in my blood, so I've not played the game, but I do watch proshares, particularly the skf fund. I own NONE.
www.proshares.com
I bought an ETF that is not an index fund, but rather a fund that takes the short side of the "bundle" of S&P stocks...It is not subject to margin calls, as the rules of my SEP state. All I have is a letter of non solicitation from my broker...He isn't able to suggest these type of funds by law..The letter states that the stock exchange symbol for this fund is SH..I should be getting more in the mail soon. SO far so good, but the risks of being wrong are there too. Right now in my gut, I think I am right...
Intersting feeling betting on the down side...
Regards, Kirk
Intersting feeling betting on the down side...
Regards, Kirk
CityGirl
Silver Member
The Greek Finance Ministry filmed by German TV station ZDF in 'The Greek Lie'
http://www.zerohedge.com/news/must-see-greece-explained-one-picture
grizzer
New member
Waaa... Those EU banks suffering the withdrawls are backed up by the full faith & credit of our glorious federal reserve...
I read somewhere that Ira -- the Goldman VP that lost the reported $2-3B has actually $17 Trillion in derivatives on her desk.
Turns out what I bought was Pro Shares, and the ETF is known as SH. SO far so good. It has made money each day. But I will have to watch it like a hawk, and I will. It isn't a huge portion of my retirement funds I have there. Just enough to off set the commming correction I believe we are going to see in the stock market. I believe the Fed will be powerless to do much to stop the fall. Maybe Goverment intervention, (QE?) most likely due to this being an election year may be required....
My gut tells me by the end of summer, Some large Banks here will be in big trouble once again. This "news" will stimulate a large sell off in stocks, if I am right. If I end up getting a hair cut this time it is of my own free will and accord, and I can live with that. Just giving your money to a mutual fund IMHO, is a loosing proposition when trouble hits.
I didn't sell before 08 and it has cost me 4 years of gains, and we have yet to get back to my 08 levels.
Regards, Kirk
My gut tells me by the end of summer, Some large Banks here will be in big trouble once again. This "news" will stimulate a large sell off in stocks, if I am right. If I end up getting a hair cut this time it is of my own free will and accord, and I can live with that. Just giving your money to a mutual fund IMHO, is a loosing proposition when trouble hits.
I didn't sell before 08 and it has cost me 4 years of gains, and we have yet to get back to my 08 levels. Regards, Kirk
Kane
New member
Yes, Kirk. Obama's miraculous, jobless recovery of the 13,000 DJIA is due for correction. But don't count on it before the election. Because Bufoon Bernanke is also due for a nice QE3 in September to keep the market artificially alive until November.Just enough to off set the commming correction I believe we are going to see in the stock market. I believe the Fed will be powerless to do much to stop the fall. Maybe Goverment intervention, (QE?) most likely due to this being an election year may be required....
Like, hey, what's a party faithful to do?
Also, the Wall Street boys are turning cheek to Obama ... tired of being vilified. And the only way to keep campaign dollars coming is to keep the action hot and lucrative. Keep the printing presses running and that zero interest free money rolling into the Banksters pockets right up to November 4th.
Yeah, we're due for a crash. Cash in your shorts. But the road to recovery next time will be based upon confidence and tangible growth, not the smoke and mirrors that only the Big Banksters were to benefit under Obama and Bernanke.
The both of them should be in jail. Along with that thief Timmy Giethner. As a matter of fact, where's little Timmy been lately?
.
,.
But Kane do you really think they planned on Europe and the union being ripped apart? I don't think so..I think that by September the correction will be well underway. I also don't another QE event is popular politicaly either, and bodes negatively on the current administration. They may be sticking there fingers in the holes in the dam, but eventually they run out of fingers, and the dam breaks..It will take some time, but I don't believe we will see enough of an untick to harm me before then.
I have some gold but not alot...But then I have alot of assets here on the farm that will let me weather out some tough stuff, if TSHTF developes. Not sure what you could do with gold if there are no banks to exchange it into some thing smaller, and more usefull. Silver would be more usefull on a day to day basis..and looks like a much better play than gold IMHO, as it is very cheap historically relative to gold.
Regards, Kirk
I have some gold but not alot...But then I have alot of assets here on the farm that will let me weather out some tough stuff, if TSHTF developes. Not sure what you could do with gold if there are no banks to exchange it into some thing smaller, and more usefull. Silver would be more usefull on a day to day basis..and looks like a much better play than gold IMHO, as it is very cheap historically relative to gold.
Regards, Kirk
Kane
New member
Well, based upon his comments yesterday, Ben is setting himself up for QE3. A nice little imaginary rally before the election.
Kane I caught it too....
Might be time to pull the rainy day "hedge" and see if the market reacts to this favorably, as historically it should. Influence the election? Not likely as the stock owning class is under attack by the adminstration for bing too "rich" to not pay more. The average Joe on the street knows nothing of this, nor do they care. They are not in the game on Wall Street anyway. It's the freebies they are interested in, not taxes on the rich. Unless they understand that in a small way taxing the upper class is going to get them what they want, but the problem is much bigger thatn taxing the rich will take care of. It's really a spending problem....
QE3 is not a good thing, it's a sow's ear, and it doen't look or feel like the silk purse the first QE was. Now it's more of the same failed polocies that we are going to have to pay for some day.
Europe will not like the QE3 unless they devalue and print as we are. It could destabilize them in the end, as their holding of dollars goes down in value as well.
Regards, Kirk
Might be time to pull the rainy day "hedge" and see if the market reacts to this favorably, as historically it should. Influence the election? Not likely as the stock owning class is under attack by the adminstration for bing too "rich" to not pay more. The average Joe on the street knows nothing of this, nor do they care. They are not in the game on Wall Street anyway. It's the freebies they are interested in, not taxes on the rich. Unless they understand that in a small way taxing the upper class is going to get them what they want, but the problem is much bigger thatn taxing the rich will take care of. It's really a spending problem....
QE3 is not a good thing, it's a sow's ear, and it doen't look or feel like the silk purse the first QE was. Now it's more of the same failed polocies that we are going to have to pay for some day.
Europe will not like the QE3 unless they devalue and print as we are. It could destabilize them in the end, as their holding of dollars goes down in value as well.
Regards, Kirk
Kane
New member
Well, the Fed will meet this week and plan for QE3. Which will give a nice little bump to the bastards running the investment houses (not the little guy) and an imaginary stock market rally for Obama. Ben Bernake: loyal as a poodle pup to the Chosen One.
In the meantime, the price of precious metals is already on the rise. Got GOLD?
.
In the meantime, the price of precious metals is already on the rise. Got GOLD?
.
YUP...
Kane
New member
News in Brief
Fed: 'If Jobs Are Meant To Be With Us, They'll Come Back On Their Own'
August 3, 2012 | ISSUE 48•31
WASHINGTON—Following a two-day meeting to discuss the country's continually disappointing employment numbers, officials from the Federal Reserve announced Friday that if jobs are really meant to be with the American people, they’ll return of their own volition. "Listen, if it's meant to be, it’ll happen," said Fed chairman Ben Bernanke, adding that there’s no point in purchasing new mortgage-backed securities or keeping the federal funds rate near zero percent "if both parties don't want this to work." "We can't spend all our time and energy trying to force this. We have to let them do their own thing, and if they don't come back, then maybe we were just never meant to be together." Bernanke confirmed that, while he is realistic about the slim chance of jobs ever actually returning, Americans should "always leave the door open" in case things change in the future.
Fed: 'If Jobs Are Meant To Be With Us, They'll Come Back On Their Own'
August 3, 2012 | ISSUE 48•31
WASHINGTON—Following a two-day meeting to discuss the country's continually disappointing employment numbers, officials from the Federal Reserve announced Friday that if jobs are really meant to be with the American people, they’ll return of their own volition. "Listen, if it's meant to be, it’ll happen," said Fed chairman Ben Bernanke, adding that there’s no point in purchasing new mortgage-backed securities or keeping the federal funds rate near zero percent "if both parties don't want this to work." "We can't spend all our time and energy trying to force this. We have to let them do their own thing, and if they don't come back, then maybe we were just never meant to be together." Bernanke confirmed that, while he is realistic about the slim chance of jobs ever actually returning, Americans should "always leave the door open" in case things change in the future.