Morning Audibles

11:11

If you didn't know... Black Friday came early this year as yesterday the Fed announced it's schedule of POMO activity days to monetize the next $105 billion in debt... Hopefully you all went out and celebrated last night by running to your local Wal Mart and clearing the shelves of cheap Chinese baubles...

Note: These are different types of "baubles" than the ones that Nouriel Roubini talks about when the Fed inflates the monetary base too much... Just so we are clear...

Communication, is always a difficult thing... Why - just looky here...


Our "sheriff" has been on a trip to Asia this past week in an effort to get his ass out of town after Americans voted his party affiliates out of dodge "press" some of his idiot economic reform ideas onto the some of the leaders of the Pan-Pacific zone... The press corps has some footage of his arrival in Seoul, South Korea to meet with Chinese prime minister Hu...


Obama Presses Hu on Yuan as Trade Imbalances Divide G-20

 
Excerpts:
 
"President Barack Obama pressed his Chinese counterpart Hu Jintao on allowing faster currency appreciation to help narrow trade imbalances that threaten to trigger protectionism and imperil the global economic recovery."
 
Translation: "ROR - You no mo printy printy"
 
"Obama has also found himself defending this month’s decision by the U.S. Federal Reserve to buy $600 billion of Treasuries to stimulate the economy.



China’s Vice Finance Minister Wang Jun said Nov. 6 that the policy could contribute “tremendously” to global growth. Two days later, a fellow vice minister said the Fed policy might destabilize emerging markets by encouraging hot-money capital flows."

Translation: We'll trade you bubbles for baubles... Last week, the bubble was in wheat and cotton & oil... But when the press caught on to the fact that it meant that grandma would be in for a long cold winter with no blankets to keep her warm, and hardly any catfood to eat... The "hot money" is now chasing PALLADIUM...

So that means that our next ROR session will be on the subject of "global warming" (because auto manufacturers will respond to the skyrocketing palladium costs by nixing catalytic converters in cars)...


It's always nice to have something to talk about...

POMO schedule

In any case... Americans needn't fret about these things... We can be constantly entertained and amused by our bread and circuses... Why even tonight, the NFL begins with it's schedule of THURSDAY NIGHT games which will be on tap for the rest of the season... Tonights game features the:

Baltimore Ravens at Atlanta Falcons
Line: Falcons by 1

CV's game write-up for wagering degenerates rabid fans to follow in comment thread...

Again... My fellow Romans... Don't worry about things... The Fed and Emperor Barack have all your entertainment needs covered to keep you distracted while they're packing their suitcases full of cash and making personal exit plans... As for you... Don't even worry if you can't afford to drive anymore, because a tasty bargain meal can arrive right at your doorstep just in time for kickoff... So enjoy!



189 comments:

Bruce in Tennessee said...

Today I wanted to comment on Mish...I already posted this under my other name on his site..but he has a rant about CSCO and Chambers, and while some of the points he makes are valid, the point I'll consider is that more than a few people understood that when the tech bubble burst, it was time to stay out of big tech..

Yes, the graph of CSCO has flatlined since 2000, but take a look at the graph of MSFT, AMAT, numerous others...big tech had a once in a lifetime increase in the value of their stock with the tech bubble. When the bubble burst, it was not a good idea to buy big tech again. Nor is it now.

The only really big tech company that has managed to find new ways of bringing in big money is Apple, and they are an outlier...look at MSFT, AMAT, you name it...they are stuck in the mud because of their size.

I feel much the same way about house builders and those affected by this bubble..it should be a long time before these sorts of industries become a screaming buy..

Bruce in Tennessee said...

http://www.ft.com/cms/s/0/6be1734c-ecf2-11df-9912-00144feab49a,s01=1.html?ftcamp=rss#axzz14ywbiPbE


Grain export bans create fresh problems


...This is worth a read..

CV said...

Chinese grandmas eating catfood too...

http://market-ticker.org/akcs-www?post=171925

Food inflation is "baked right in the crust"...

CV said...

@Bruce

Better get that greenhouse soon and start growing your own (in abundance)...

You'll find what you shell out for a greenhouse now will be the price of one tomato in the future...

Bruce in Tennessee said...

CV,

I have been thinking about it, and I expect I will do that. Greenhouses run in our family..my grandfather made his living that way.

call me ahab said...

Great post- (gotta be when you reference Cool Hand Luke)-

that Pizza Hut clip reminded of Taco Town from SNL:

http://www.hulu.com/watch/1447/saturday-night-live-taco-town

oh . . .and we have this from Grantham:

"Investors Should Be In Cash Until Stocks Fall"

CV said...

cuphandles bitchez!

call me ahab said...

and the debt commission says:

"Commission Leaders Say Cutting Deficit Will Hurt"

some things are better left unsaid

karen said...

morning! in shock.. haven't dug into audibles yet but i can see it's a good one : )

i sat down at 6:31 and saw dow down 103 or so.. what happened?

greenspan vs. geithner??

http://money.cnn.com/2010/11/11/news/economy/geithner_greenspan_dollar/

karen said...

zerohedge

John Taylor: "The Collapse Of Europe Has Begun, The Euro Will Trade Like The Lira In A Few Months" http://bit.ly/awf6pl

CV said...

@karen (9:39)

I don't think it's anything in particular...

Cuphandles & Diamond tops...

& probably some nervousness about Irish spreads, EURUSD & Aussie...

Nobody said POMO money HAD to go into NFLX...

It could be used to clamp down a few commodities that have gotten a little ahead of themselves...

CV said...

of course they'll BLAME it all on CSCO

call me ahab said...

good little read from NC-

"Open Letter to the Charimen of the Debt Commission"

Bruce in Tennessee said...

http://www.bloomberg.com/news/2010-11-10/france-joins-germany-ganging-up-on-bondholders-to-share-pain-euro-credit.html

France Joins Germany Ganging Up on Bondholders to Share Pain

Karen,

I posted this early this morning on the nightly thread, but this would seem to be the death knell for the peripheral countries of Europe. If France and Germany, (and I guess Britain too) have decided to put bondholders at risk, the Greeks and others must be holding the short straw..

call me ahab said...

NFLX- no doubt- and PCLN and AMZN

karen said...

thank you, Ahab.. (bookmarking thedailybail : )

and, important one, Bruce.. thanks for bringing that to my attention.

I-Man said...

Here's a feel good story...

http://online.wsj.com/article/SB10001424052748703514904575603533779909398.html

"The Life of a Prizefighter"

karen said...

spy can't even get to it's 20 ema..

don't forget what danny said yesterday.. this is the thursday before op ex..

lows expected today and tomorrow.. GM ipo next week..

karen said...

laughing, yeah, last night we were having a really intelligent discussion... no wonder i didn't revisit it this AM.

karen said...

fiatcurrency

*DUBAI GROUP SAID TO MISS CITI OCTOBER PAYMENT: ARABIAN BUSINES..so what..

call me ahab said...

Dead on Arrival-

"The [deficit reduction ]plan would raise the gas tax, slash defense spending and farm subsidies and bring down health-care costs by clamping down on medical malpractice suits. The Social Security retirement age would rise to 68 in about 2050 and 69 in about 2075."

response:

Democratic House Speaker Nancy Pelosi called the targeting of Social Security and Medicare “simply unacceptable,” and Republican Representative Jeb Hensarling of Texas expressed opposition to proposals to raise taxes.

Washington- always good for a laugh

McFearless said...

morning squad. haven't I said before that Chambers is always good for a laugh?

this might be the start of the C leg of wave 4....stay ninja.

karen said...

Jeremy Grantham Interview..FED manipulates markets and creates bubbles..http://bit.ly/cfKcWR

McFearless said...

also funny, our advisor home page has this on it this morning:

" Personal trading blackout notice issued for CSCO 11/11/10"

apparently we put out research on them yesterday, oddly though, the research report is unavaiable at the moment, I wonder if they had it as Strong Buy

lmao.

AmenRa said...

Try as they may but yesterdays lows WILL get taken out.

McFearless said...

uup busted back above 50 day...that chart looks pretty constructive.

call me ahab said...

I-Man-

interesting story you linked up- Pacquiao and Mayweather would be an incredible match up-

I am a bit of a boxing fan-

There is an event in Washington DC called "Fight Night"- where I have to break out my tuxedo- and get to meet a lot of the old timers- Leon Spinks (dumb as a box of rocks), Jerry Cooney (pretty funny dude- very personable), Michael Spinks, Larry Holmes, "The Raging Bull" (very old and in a wheelchair- not sure he even knew where he was)-

pretty cool though

karen said...

Quote of the DAY!!!

There is nothing like an 83% rally off the low to a two year high to get individual investors so excited. I’m sure if Wal Mart raised prices by 83% on its top 500 goods, they’d be out of business rather quickly but we all know stock market psychology runs in reverse. (Peter Boockvar)

http://www.ritholtz.com/blog/2010/11/imagine-if-wmt-raised-prices-by-83/

AmenRa said...

Looks like the algos decided to spite me. But it's early.

AmenRa said...

What was that from 10:07-10:11 on the 1-min SPX?

McFearless said...

I can tell you all this morning that last night I got a good look at the public's interest in gold, it's thicker than I thought it was, anecdotal, of course.

Richard Russell talks about there being three stages to a bull market, the first stage is when smart money recognizes great values and they buy. This stage has long passed in gold according to RR. He says the second stage is likely coming to an end pretty soon, this is the stage where awareness grows and more and more people get exposed but there are still a lot of parties that are not interested or skeptical, the third phase is the blow-off speculative phase, he thinks this is coming soon and often says that often you make more money in the third phase than the first two combined.

I always liked his ideas here because it basically describes a wave pattern, three waves up in the impulse pattern with an extended fifth wave.

so, we'll see how it plays out, sentiment says lots and lots of folks bullish on gold right now, yet the top best known e-wavers in the world are looking for a bear market in gold soon. interesting times to say the least.

karen said...

grantham.. 900 fair value for spx..

AmenRa said...

C, BAC, JPM, WFC all down 1.3-1.5%. JNK down over 1%. AAPL down 0.5% Yet the market floats higher.

Bruce in Tennessee said...

Ben,

I think when CV starts posting a daily rant about gold, it will be time to exit!!

...just my "market tell"...

McFearless said...

I'm not sure that will happen Bruce, it's his largest holding don't forget.

you are better off levering up long on SLV next time I say I'm going to try and short silver, lol.

karen said...

reverse h&s on 60 min spx...

McFearless said...

I know none of us put much into it but the last couple days just watching the 50 day is a pretty good marker, once it went below on Tuesday it acted as resistance all the way down, became support yesterday, gapping through it this morning and just recently rejected by it on this bounce off the lows this morning. That'll work until it doesn't but I'm just sort of keeping an eye on it.

karen said...

Northgate Target Raised To $3.80 From $3.50 By Scotia >NXG
Dow Jones
9:56 AM ET Northgate Minerals Raised To Buy From Neutral By Bank Of America Merrill Lynch >NXG

The above is good for me : )

call me ahab said...

ZH sure knows how to bring attention to a headline:

"The Collapse Of Europe Has Begun, The Euro Will Trade Like The Lira In A Few Months"

so . . .b22 . . .gold about to enter a speculative phase

karen said...

Bruce.. I do hope you take the time to watch/listen to that JG interview.. it is right up your alley (and mine !!)

McFearless said...

before I forget, a big THANK YOU to all the Vets on the board.

Thanks!

karen said...

1185 coming up ?

call me ahab said...

Ritzy says:

Gold has no intrinsic value. Forget QE, the Gold Miners are doing QM Quantitative Mining. These irresponsible Miners are “printing gold” by scraping it out of the ground as fast as they can. They are debasing it as a store of value, and are no better than central bankers with their fiat currencies and printing presses.

not sure if this is "tongue in cheek" or not

McFearless said...

you can use the link but I'd bet most of you are already expecting what you are going to see:

http://www.aaii.com/sentimentsurvey

karen said...

fiatcurrency

Goldman Tells Investors to Exit China Stock Bet With 11.3% gain on concern the central bank will raise borrowing costs totame inflation.

McFearless said...

Here's a question:

Is insider selling a contrary indicator?

karen said...

http://www.housingwire.com/2010/11/11/nicolas-cages-foreclosed-bel-air-home-sells-for-just-10-5-million

call me ahab said...

b22-

if I had to do it over again- I would have put another 15 years in the Navy- and got my 20-

It all seems so much better as I look back on it than it did at the time-

although I had some pretty good times

McFearless said...

ahab,

interesting to hear you say that, I have several family memebers that have spent significant time in Iraq and Afghanistan the last several years, one of which had planned on spending his entire life there, but not now, they all tell me the same thing:

"I don't even know what my mission is"

karen said...

http://news.discovery.com/space/examining-official-explanation-of-the-mystery-missile.html

McFearless said...

ahab,
regarding BR, someone on his board said it well the other day:

"I love the contrast between Bailout Nation and the real you"

call me ahab said...

Karen-

following up on our "interesting" conversation last night- and to all here- this is a "must open" link

http://forum.zodcaps.com/attachment.php?s=8335de63b1b82ff81938b48261d3fec9&attachmentid=259151&d=1267472147

tell me she's "not much" to look at

McFearless said...

hmmm, ahab, you got me wondering if that is a work safe link.

call me ahab said...

just Kirsten Dunst bouncing on a bed (with clothes on- mostly)

karen said...

blurry foto, hair over face, and cropped.. let me see her ankles before I vote.. rolling my eyes.

McFearless said...

also, I love how "enlightened" souls refer to gold as a barbaric relic.

gold has been embraced as something of value for the entire recorded history of mankind, if it is barbaric, then we must still be too.

call me ahab said...

her ankles are exceptional-

rent the movie "Eternal Sunshine of the Spotless Mind"-

you can see the whole scene- very good movie

How happy is the blameless vestal's lot!
The world forgetting, by the world forgot.
Eternal sunshine of the spotless mind!

call me ahab said...

FYI- 93% on Rotten Tomatoes-

http://www.rottentomatoes.com/m/eternal_sunshine_of_the_spotless_mind/

call me Siskel (or Ebert)

karen said...

i never saw that movie! bet i would love it.. i'll put it in my queue, thanks.

72bat said...

hottest kirsten dunst? see her in the 2001 "crazy/beautiful"
not bad acting either

karen said...

fxe on low of day..

CV said...

@Bruce

It is very unlikely that you'll hear me go on a rant about gold...

I already have what I need... In fact though... I don't consider it an INVESTMENT... I consider it an INSURANCE POLICY...

Consider the RR scenario (or other scenarios that gold goes to Pluto in a blowout wave)... IMO - that would only occur in a hyperinflationary environment...

The trouble is... Weimar or Zimbabwe type hyperinflation means that paper money is losing value in timeframes that can be calculated in "hours" (not months or years)... So WHY would a person want to SELL their gold into that?... They'd do the exact opposite... Instead, they'd want to acquire more... It would have no TRANSACTION value (except just "stored" value - which doesn't help if you're hungry)...

Silver - OTOH... Could be used to barter for goods with (and considered to be "like" gold... Why? because it's more easily parceled out (because of it's presence in coins - or "used to be anyway)... If you have your hands on these coins, you have the ability to transact... Barring that, different items, like alcohol, or first aid, or food, or whatever could help you to exchange for what you don't have, versus what you have abundant supplies of - assuming you have any supplies at all)...

What I'm talking about here is the MICROECONOMY... Officially - there may be a new money system... But the 80% (who are not the elites) would be forced to transact this way... They might be recipients of a government stipend... But if it's PAPER MONEY they were getting, they'd convert it IMMEDIATELY into a raw good... Then transact via barter...

I'm not saying HYPERINFLATION will occur... I'm simply saying that if it DOES... That's the way it's going to be...

Frankly... I'd expect more of a grinding INFLATION to occur (much like the 70's - but probably a little or a lot worse)... In that case, it would still operate similarly to above... Just the TIMEFRAMES would be expanded...

What you'd see here, would be people being forced to GO WITHOUT things that they once took for granted...

The cost of EVERYTHING would rise... Wages would remain stagnant... STAGFLATION...

I frankly think that Bernanke already KNOWS that this will be the case (as probably even sees it as the best alternative - among many rotten alternatives)...

In this environment, the "non-elites" would simply have to MAKE-DO and be resourceful...

Assuming the fiat money system & fractional reserve banking systems stayed in place, the DURATION of this atmosphere could go on for DECADES (or until the last bad loan was written off the books)...

Then somebody could decide whether we wanted to jolt the whole Frankenstein back into existence (as Reagan did in the early 80's)...

That's it in a nutshell... So that's why I kind of laugh at all the hub bub about gold...

If someone looks at gold in the same manner they looked at a dot.com stock... They're totally missing the MACRO picture...

call me ahab said...

see Karen-

all the Kirsten Dunst admirers?

(I'll try to find you some ankle shots- and see if I can post it up tonight!)

72b- high five dude

all have a good day

karen said...

ahab, it wasn't kirsten i was railing against.. it was katie, btw..

further.. in real life, you wouldn't give kirsten a second glance.

Bruce in Tennessee said...

Karen,

the grantham interview was very good. thanks

72bat said...

btw - sent home from the office yesterday when our power went off at precisely 12 noon, due to this demolition mishap

karen said...

i'm thinking 134 for fxe, btw..

Jennifer said...

Bat -- that was awesome! Thanks for the laugh -- I needed it. Hubby was out late last night, so I had an extra glass of wine...then the little sick one was up all night coughing, so now I've got a raging headache and not much was seeming funny. Classic.

karen said...

bat! that is too much! you made my day.. i have to send that out to people.. hopefully, no one was injured!

karen said...

Jeff Cooper: Will QE2 Actually Cause Interest Rates, Dollar to Rise?

http://www.minyanville.com/businessmarkets/articles/jeffrey-cooper-qe2-quantitative-easing-us/11/11/2010/id/31076

72bat said...

when i heard what had happened, i was hoping there would be video of the looks on the faces of the demo team. guess those girls now might have second thoughts about joining their mom's demolition biz.

"The explosives detonated correctly, but a crack on the smokestack's south side pulled it backward," said Lisa Kelly, who travels the country blowing up buildings as president and owner of AED.

"Nobody's happy with things that go wrong in life, and sometimes it's out of our hands and beyond anybody's prediction ... We're all extremely thankful no one was injured," she said.

wonder what her insurance agent has to say about that

CV said...

kirsten dunst is going to do a nude scene in her upcoming movie...

AmenRa said...

72bat

Wow. Funny yet hoping everyone was alright.

AmenRa said...

72bat

When the second explosion happens you can see the stack move backwards.

karen said...

now i am distraught (again), we haven't even taken out yesterday's low on the spx!!!

What did I do wrong? said...

A Fat Girl served me coffee in McDonald's this morning. She said, "Sorry about the wait." I said, "Don't worry Fatty, you’re bound to lose it eventually."

AmenRa said...

Karen

I know, I know. We got close this AM but the buying picked up tremendously to keep that from happening. It's still early.

Bruce in Tennessee said...

What did I do wrong?

..we know you Lefty...

karen said...

JJC made a new high today.. shocking really.. and gold is attempting to find its footing..

18 said...

AmenRa said...
What was that from 10:07-10:11 on the 1-min SPX?


A continuation bounce of the buy if below 1206. Saw it yesterday, again today, tomorrow the same?
18

karen said...

maybe this will mark to market something:

http://www.housingwire.com/2010/11/11/fdic-auction-to-sell-former-banks-land-commercial-properties-in-10-states

karen said...

12:33 PM ET Goldman: It Is Not Closing GM IPO Order Book 3 Days Early
Dow Jones
12:24 PM ET Goldman Closing GM IPO Orders Three Days Early - Analyst
Dow Jones
12:04 PM ET Goldman Closing GM IPO Order Book 3 Days Early - Analyst
Dow Jones

ZH is running with the story GS is closing ipo early but gs says no..

McFearless said...

I always thoguht Kirsten dunst was pretty awesome, I first feel for her in Interview with the Vampire, Katie holmes not so much, she's got a sort of mopey face and Dawson's Creek was the worst.

AmenRa said...

Bond market may be closed but someone has been selling 2yr, 5yr, 10yr and 30yr UST's.

AmenRa said...

DXY continues to push higher and higher but the SPX is refusing to go down.

karen said...

fxa at low of day..

CV said...

As soon as he gets out of his zen-like trance...

I-Man is going to tell you that todays low hit a GANN line...

...and he'd be right

McFearless said...

how is it that everyone still is talking about the way to measure inflation is to use prices

WRONG!

karen said...

Very dear but totally OT: 5-year-old talks on the phone with 911 while her dad is having difficultly breathing.

http://www.maniacworld.com/stay-calm-dad.html

karen said...

The Invisible Hand At Work…
By Jamie Coleman || November 11, 2010 at 18:34 GMT

The Nikkei reports that Japanese banking giant Mizuho will buy 2% of huge US money manager BlackRock.
That’s how markets get back into balance over time… companies in countries with strong currencies take advantage of the windfall from the currency to take make investments on the cheap…
USD/JPY traders near session highs, now at 81.52.

CV said...

new chart in thread

under the pizza commercial that nobody laughed at...

karen said...

I like the chart, CV.. I can work with that.. However, that pizza commercial gave me an error reading..

CV said...

@karen (1:50)

Invisible Hand at Work

Well how about this for an invisible hand...

Future headlines...

ACME company... needing industrial copper for manufacturing its widgets... & trying to save money in a world where "hot money" keeps bidding up the spot price of copper... "Silently" initiates an acquisition process of US nickels (post 1946) which it can exchange ON PAR for the paper value of a dollar...

US Mint responds in kind (to sudden nickle shortage) by discontinuing minting of all nickles (or changing the metal content to zinc/aluminum and re-weighting the nickle)...

The "collector" value of remaining nickles goes ballistic...

Far fetched?

CV said...

pizza commercial (funny as hell)

http://www.youtube.com/watch?v=8DQuVL3Bo5Q&feature=related

karen said...

CV, how old are you?!

karen said...

good, good, good.. fxe back under 136

CV said...

@karen

c'mon man... that's some funny sh*** :-)

CV said...

@karen

FXE under 136... See? it's "baked right into the crust"!

karen said...

this makes me ill: The 20 Cities With The Most Underwater Homes

http://read.bi/dhmei3

they left out all the coastal towns of so cal, tho..

karen said...

The Vacuum Theory Video! From 9-20 "if you are short, my opinion to u is to run and hide!" http://chart.ly/hbsvxt3 1039-1228

CV said...

@karen

This is deductive logic... but...

If they are COASTAL towns... Then they are "on land"... Therefore they would NOT be underwater (unless s a tsunami hit)...

Just sayin' :-)

karen said...

that is a fantastic video I posted.. fact is tho.. if the currencies had gone against him.. the vacuum suck wouldn't have been up..

CV said...

Looking at fractals...

After the April 26th high... There were 5 daily candles where the market failed to get over before the cascade started down before the flash crash...

Today is day 4 after the most recent high...

CV said...

FXE was at 133.30 on April 26th...

If you look at the daily chart on that... It appears that that is a line that had better hold... for equity bulls...

I-Man said...

@ CV

It was also right on the nose of a 50% support fib...

Me no trust this thrust outta the triangle tho, 15min chart...

Thats coming straight into some fib/gann action of its own...

CV said...

@I-Man

It's still inside the triangle of the chart I put up in the thread...

That... and the fact that it looks like FXE is on a "must visit" mission to see 133.30 within a few days, would not make me trust this rally...

I may play a little on the short side if I see the candles to a test of the upper boundary (which is 78.6% of yesterdays highs to todays lows)...

I'm thinking either full gap coverage around 1197... or - if things get fun - this week puts in a ENGULFING WEEKLY candle (which means friday would have to touch around 1177)...

karen said...

134 is my fxe target for starters.. will exit euo short there..

AmenRa said...

AUDJPY, EURJPY, EURUSD, LOONIE, AUSSIE, C, BAC, JPM, WFC, 2-30yr UST all down while DXY is up. Yet the market continues to creep HIGHER. Lo siento pero this is BS.

CV said...

as soon as I see a touch or failed breakout of that wedge in the chart... I'm going short...

CV said...

It would be the 4th failure...

ben22 said...

mu mu mu munis!

quick, rush out and buy to avoid taxes, ambac's got ur back.

http://market-ticker.org/akcs-www?post=171953

karen said...

more problems for BAC? http://market-ticker.org/post=171966

CV said...

Yeah... you sabe the 30% on taxes only to find you have to take a 30% haircut on the bonds...

Nickles bitchez!

It's a free 20% every transaction...

CV said...

I'm going to change the name of this blog to...

NICKLEODEON CAPITAL

...until all u beatches get it! :-)

karen said...

http://www.forexlive.com/145575/all/aussie-bulls-take-note-goldman-ditches-china

karen said...

ben, everyone knows munis are backstopped! no worries.. just like the banks.. i'm watching that IQI chart now as a precursor of things to come..

karen said...

look at oxy chart today..

karen said...

http://www.forexlive.com/145578/all/usdjpy-get-onto-my-cloud

ben22 said...

Karen,

when everyone knows it must be so....hehe.

fiddy cents said...

@cv

doesn't it take 120 nickels to make a pound of copper, that is if nickels are made of 75% copper, which I doubt they are still fabricated the same way.

ben22 said...

p/c, only got close to 1 early.

dip buyers everywhere?

ben22 said...

meant to give the link:

http://www.cboe.com/data/IntraDayVol.aspx

karen said...

Nov. 11 (Bloomberg) -- An elaborately decorated Qianlong- dynasty porcelain vase sold tonight for a record 51.6 million pounds ($83 million) as Chinese buyers competed for Imperial- associated trophies at the "Asian Art in London" event.


http://www.sfgate.com/cgi-bin/article.cgi

karen said...

imagine if he'd bot gold, instead..

ben22 said...

can't wait to hear

today is a POMO

1.618 trillion times tomorrow.

CV said...

@fiddy cents

read it and weep... Only everyone's LACK OF THOUGHT PROCESS stops them from making money in a way that's... LEGAL... GUARANTEED... NO RISK... & TAX FREE...

http://coinflation.com/

since 1946... the copper content of Jefferson nickels has not changed... (soon it will - I'm sure - as was done to the SILVER COINS pre-1964)...

Right now... a nickel... ANY NICKEL... is worth 6.3 cents...

All of you are WONDERFUL traders out there... Right?...

You're all SO SMART and SO FULL OF KNOWLEDGE & TRADING IDEAS...

Why then? is CV ridiculed for a SURE THING?

---

What's the worse that could happen? Even if the bottom drops out out of copper... That means the dollar goes to the moon... right?

Then - your VALUE is stored as the monetary exchange rate of the face value of the nickels...

ben22 said...

I only trade wooden nickels.

karen said...

ben @ 3:39, i kno, right?!

CV said...

wooden nickels = FRN's

CV said...

@karen @ben

Both of you absolutely AMAZE me (because I consider you both smart)...

How is it possible that you can't wrap your brilliant minds around what is, quite literally, a sure thing?

CV said...

Go ahead and punch holes in my argument...

Come on... I'm waiting for the brilliant answer...

CV said...

drumming fingers...

CV said...

fingertips getting chapped...

karen said...

CV.. I made a big mistake at Trader Joe's last night.. bot two bottles of the Chimay Grand Reserve Ale for my son's return home on Saturday. But did I know today would be 80, full sun and Santa Anas ??!! Needless to say, I just popped that cork..

karen said...

CV.. I don't like change.. tho I agree your argument is full proof and a no brainer..

karen said...

I am thinking about selling a bunch of silver, tho..

Jennifer said...

CV -- I thought of you when I was at the dry cleaners yesterday. They asked me if I had any change I could give them. I gave them $5 in quarters but saved all my nickels.

karen said...

look, if i have to leave the country, i will be wearing a lot of gold.. can't wear nickels.. don't ask me how many 18k watches I have.. thick ones.. LOL.

geckojb

$$ Starting to hear whipsers from other traders that Muni bonds are going no bid.

karen said...

Jenn.. teacher's pet!! : P

I-Man said...

It kinda did the double head fake this afternoon... pretty cool.

Got me...

At first.

Then I and I caught the down move for 30 tix.

Still lost money today tho, DOH!

karen said...

BloombergNow

Fed's `New World Order' May Boost Treasury Volatility, Morgan Stanley Says http://ow.ly/38lCj

Try New World DISORDER

I-Man said...

I need a watch, gurl. Hook it up Sugar Momma...

;)

fiddy cents said...

CV

I wasn't mocking you. Was just making a statement. I've read a little here and there of what you've said and find it interesting. But, how would you get the 6.3 cents value out of that nickel if you don't own a smelter, and, not to mention it might be illegal to melt coins but not sure about that.

Jennifer said...

KDs been all over those muni fund drops today. He's really been on a roll recently. Less cursing, more solid info. That's the market ticker I like.

Jennifer said...

If I'd made more money trading, I would have taken my family to Disney, and they wouldn't have had such a crappy quarter. Where's my wealth effect?

CV said...

@karen

#1 - Just buy one of those 96 gallon wonking trash cans... stick it in your cellar... and everytime you transact... hand over 2 dollars in loose change (ask for a roll of nickels)... Go home... toss the roll of nickels in the roll-around trash can... forget about it... It's NO DIFFERENT from storing gold or silver ingots at the FRBoNY...

#2 If you want to sell silver... I'll buy it from you... But I think it'll go to $35 maybe (on this go around)... If I were you, I'd wait to sell it there... Personally - I'm hoping for a pullback to $20 (after that) - where I'll be a big buyer of PHYSICAL...

#3 This...

karen said...
Nov. 11 (Bloomberg) -- An elaborately decorated Qianlong- dynasty porcelain vase sold tonight for a record 51.6 million pounds ($83 million) as Chinese buyers competed for Imperial- associated trophies at the "Asian Art in London" event.


http://www.sfgate.com/cgi-bin/article.cgi

November 11, 2010 3:36 PM
karen said...
imagine if he'd bot gold, instead...


---

I don't suppose you're much of a history buff... The Chinese place a HIGH VALUE on porcelain... It's like GOLD to them...

In a world that's moving Chinese... I can totally understand that type of (what would be called "investment" for them...

As Ritholtz says... Miners are scraping gold out of the Earth as fast as they can right now... He's actually RIGHT in suggesting that what they should be doing is keeping it underground...

Go ask the Saudis about their oil wells...

Bruce in Tennessee said...

CV:

Perhaps we should all buy cows...then we'd have our own supply of methane and it wouldn't be taxed. Of course finding a way to get it from the source to the stove could be a little problematic...

I-Man said...

Ditto that, Jenn... dude needs to chill sometimes.

ben22 said...

CV,

what makes you think I haven't wrapped my mind around what you are saying?

I'm just trying to get you worked up, so wooden nickels it is!

As I told you the other day in my e-mail, I bought two very large bags of silver coins this year and opened gold money, believe it or not they let me give them worthless paper in exchange for real money!

Also, when it comes to cash, you know my larger picture view on the dollar and deflation, I have $XX,XXXX of $100 denomination federal reserve notes at the house, I couldn't even change it into all nickels if I wanted, I'd have to get strip searched while they ask where the hell I got all of them and probably by some lady named Bertha who thinks I'm selling pot, I've been getting $100's every month for years, my own little game. Not to mention, let's say I wanted to keep it all in coins...., what if I want to leave the country and bring the largest dollar amount I can with me that doesn't need to be claimed, what if I wanted to get money to family quickly?, I'd rather lug notes if they were still accepted than bags full of nickels.

The amount of cash I want on hand would also make storing nickels a bit of an issue.

Your point is entirely valid/logical, I've just gone about preparing in a different way is all.

And if it's about trading...dude, short WL....ROR.

Andy T said...

CNBC really pumping this Jeremy Grantham intereview....can't tell you how many times they've promo'd that one.

You'd think this guy was the second coming of Jesus Christ coming to tell us what the markets were going to do....

Jennifer said...

Love the emoticons though, I-Man. Expecially the exploding doo-doo. If I knew how to copy those, my emails would go downhill fast.

Jennifer said...

AT -- my dad called me to ask who JG was and whether he should watch that interview today...hysterical.

CV said...

@fiddy cents

You're thinking about it WRONG... Even though you bring up some valid questions...

First of all... You're right... It IS illegal to melt... NOW... But you have to embrace the idea that it won't always be that way... Especially if things change...

Let's say a new world monetary system is established... After the dollar is abolished... Any such laws would immediately be null and void... Value would be UNLOCKED at that time...

Furthermore - It has less to do with that than KNOWING what the content was, as to what you were holding...

Right now I KNOW I could go to a SILVER dealer and get the SILVER MELT value paid to me (in cash) for a pre-1964 coin...

The moral of the story? There are ALWAYS dealers in the world who deal with this type of transaction...

So... Trust the VALUE you see...

You too... evidently never studied your history... The Romans engaged in this process for CENTURIES (by clipping coins) to avoid inflation...

It's no different now... Just because everything is ELECTRONIC, it's STILL no different (because all electronic prices are attached to some raw commodity in the end)...

You're safer owning the COMMODITY itself (not a note which describes it's value on a partucular day)...

karen said...

I didn't know i was supposed to be collecting $100s!!! I thot they were all counterfeit.. I've been getting rid of them as fast as I can.. I like 20s..

You all could have clued me in a bit sooner..

Andy.. JG says 1500, right?! so buy the dips..

CV said...

@Bruce

Buying cows is NOT a bad idea... I own two (who graze on a meadow on a neighboring farm)...

Hell... Even LB could have a couple ELSIES (when he gets tired of the twins)... :-)

Anonymous said...

I thought 100s were just for snortin blow?

Mr Inventor said...

""Bruce in Tennessee said...
Perhaps we should all buy cows...then we'd have our own supply of methane and it wouldn't be taxed. Of course finding a way to get it from the source to the stove could be a little problematic...""

hmmmm, a portable solar powered methane collector/condenser with RFID... AND a check valve included of course!

ben22 said...

Grantham got hammered in 2008 yes?

I believe most of the GMO funds were down 35% or more.

It seemed everyone ignored that though since his long term forecast from 1999 was so accurate.

Jennifer said...

Karen -- I went through a phase where I took the daily max out of the ATM every time I drove by one. Yes, the $20s are a little bulky, but I find them comforting too. Isn't that was safes are for?

ben22 said...

Karen,

re: $100's

I get them because they are scarce, I believe 90% that have every been printed are outside the US, this is why from time to time I can't even get them at the bank, or get as much as I want.

Jennifer said...

There's a huge commerical dairy farm not too far from us in Indiana (Fair Oaks I think) -- they make all their own power from the methane from the cows. Pretty cool. Also, the gift shop sells awesome grilled cheese sandwiches.

CV said...

@ben

That's good...

See... as far as "leaving the country" is concerned... I'm not worried about that...

I laugh my effing ass off at the people who think they need to leave the country...

No matter what happens, or whatever government we might have, it'll be INFINITELY safer here...

So get yourself a piece of land... build a cellar... and use it to house those things that are heavy & immobile...

Hint: You're better off owning at least TWO pieces of land... Your residence, and another hideaway (wink wink)... if you know what I mean...

Put it this way...

Do you know where Jesse James hid his gold? :-)

Andy T said...

"Katie Holmes!! Cant' act for beans! So sorry I even clicked on those links.. She has the worst shaped legs.. terrible posture.. zero taste.. Every now and then, I see a nice foto of her face.. she takes make-up well, in other words.. For me, she is about as unsexy as a young girl can get.. Reece Witherspoon has more sex appeal.. or even Kirsten Dunst.. and at least they can act.

Andy, I don't know how you will ever redeem yourself on that one.

She may be a lovely person however.. "
~~~~~~~~~~~~~~
Just catching up on this Karen:

Not a big fan of Katie Holmes. I think he's sort of cute and in that old video I thought she was downright "pretty."

That's all I was saying...

Reese Witherspoon - Hate her. She annoys me greatly. You can tell she's probably boring as hell in the sack...probably very similar to the problem with Jennifer Aniston.

Kirsten Dunst - She's OK for sure.

CV said...

@karen

ben is right about (4:15)...

read my post yesterday about a guy who called Treasury...

NONE... ZILCH... NADA (in existence) with Timmay's signature on them... Think about it...

hehehehehe :-)

ben22 said...

CV,

In my somewhat limited exposure to coin dealers they are some of the hardest people in the world to bargain/do business with.

the one I get stuff from here in DE, which was rec'd in CTC book, they've been around the block, you aren't getting any big deals there.

ben22 said...

CV,

see, but my leaving the country might not have anything at all to do with being safe. Maybe it has everything to do with simply wanting to establish global accounts, which I'm looking into as we speak, I'm not lugging nickels through the airports, iow.

ben22 said...

and as for Jesse James....no clue, at Sandra's house?

karen said...

CV.. as for me not being a history buff... and not knowing about porcelain and ceramics, forget it..

businessinsider

Meredith Whitney: New Jersey Is The State With The Biggest Fiscal Crisis http://read.bi/adj8Zy

Not CA???

CV said...

@ben

Ok we'll work it this way...

When you're effin Stephen Roach, and off in "Singaczenwan" (or someplace)...

You can trust me... I'll hold your nickle hoard in my secret underground vault in an undisclosed location...

To all you... SURVIVOR CAPITALISTS... New deal in the offering... Send me your unwanted bills and notes, & I'll credit all your accounts by holding PHYSICAL NICKELS...

Probably safer than owning any ETF... Right?

CV said...

@karen (4:24)

I was being inflammatory on purpose...

I just wanted to convey the idea that a large price paid like that by a wealthy Chinese person...

to me...

makes a lot of sense (and is easy to understand versus gold)...

ben22 said...

yeah right man....you still haven't even cashed that check from FF have you, lol.

CV said...

Gold... FRANKLY... is "last" on my list right now (and has been for some time)...

It's UTILITY, though, is as a benchmark...

Since 2005 or so... In my mind... I "price" everything in gold (not dollars)...

I'm still waiting for the iPhone (or android) app that does this...

...drumming fingers again

karen said...

Ben.. you need to research the counterfeit angle.. it is why i get rid of them as fast as i can.. you should have yours scanned..

CV, my reasons for preparedness on "leaving the country" had more to do with having two sons of draft age.. tho they are free to make their own choices.. nothing like having those Selective Service notices in your mailbox.

Bruce in Tennessee said...

THE SALT MINE...SHE'S A FINISH!

Long weekend, tomorrow is going to be awesome. Got an all day hike planned..we'll be the only humans we will see...

(Perhaps even if we spot Leftback...............)

..later..

ben22 said...

Karen,

I'll only take bills from the bank that are marked several times, I hand half the one's they give me back, the people at the local PNC where I do this can't stand me I imagine, but there I am, third wed. of every month like clockwork, they know me by name.

ben22 said...

and I always take a root beer sucker before I leave.

CV said...

@karen

I thot it had to do with Sara Palin :-)

ror

Can you imagine... Sara Palin get elected and starts a World War (which necessitates the re-establishment of selective service)...

Karen - I think you're gonna NEED that bottle of wine... BETTER MAKE IT SOME OF CV's MOONSHINE)... :-)

I-Man said...

Big game in Neyland this weekend, Bruce... going into town?

Might be the only conference win the Vols get all season...

Andy T said...

Also, CV...

Thanks for the Blazing Saddles clip. What's great and magnificent about that movie, and a few others in that day, is that THERE IS NO WAY they could be made right now.

It was so damn funny.

Jennifer said...

Did the backpack through Europe thing summer after college graduation (seems like an eternity ago.) Paris was the last stop in an 8 week trip. My girlfriend was down to her last $100 -- and it was in the form of a $100 bill. Went to exchange it (dating myself) for francs, and all hell breaks loose. Turns out, her $100 was a fake. We were almost arrested. Begging for mercy in broken French, the police took pity on us and let us go. She got to keep the fake, with a giant red "FAUX" written through it on both sides. I had to buy all our food for the last 5 days of the trip. Came home really thin.

ben22 said...

that demolition mishap by 72b is now on Yahoo news.

fiddy cents said...

just doing some calcs here...

nickel = 4.5 grams
1 pound = 453 grams
$100 = 2000 nickels
2000 nickels = roughly 20 pounds

1 ton of nickels (201,333 nickels) or (5033 rolls) = $10,067 face value


that's alot of freak'n nickels... LOL

Jennifer said...

My friend is Canadian. The bill was a graduation present from a family friend who lived in Edmonton. After the fact, we learned of a large counterfeiting ring arrest in the outskirts of Edmonton, making fake $100 bills. They were pretty good too -- the present was acquired at a Canadian bank.

CV said...

Gotta go peeps... (for awhile)...

Tonights game...

ATLANTA OFFENSE: Every time the Falcons play at the Georgia Dome, you need to think about Matt Ryan's home-road dichotomy... As a host, he has 25 touchdowns, 12 interceptions, a 64.3 completion percentage and an 7.8 YPA, compared to 26, 18, 57.5 and 6.5 respectively on the road...

The Ravens are 14th against the pass... They limited Chad Henne to 231 yards on 34 attempts last week, but struggled to defend aerial attacks prior to their bye, most notably allowing 374 yards to Ryan Fitzpatrick in Week 7... Although they might not have properly gameplanned for Steve Johnson...

Baltimore has surprisingly struggled against the run recently... Ronnie Brown didn't have many opportunities last week because the Dolphins were behind, but was able to do some damage when given the rock... Michael Turner should pose enough of a threat in this game to open things for Ryan, or at least move the chains a couple of times...

BALTIMORE OFFENSE: Atlanta's struggles against the pass are well-documented... Josh Freeman threw for just 189 yards last week, but that was because he attempted only 22 passes... In its two games prior to the bye, Atlanta surrendered 738 yards through the air...

Joe Flacco was nearly flawless last week, going 20-of-27 for 266 yards and two touchdowns... He'll definitely pick up where he left off against the Falcons' 31st-ranked secondary...

Flacco, however, might not have a consistent running game by his side... The Falcons are very good against ground attacks... No opponent has rushed for more than four yards per carry against them since Week 2...

Baltimore's main concern will be converting in the red zone... The Ravens had seven trips into the red zone against the Dolphins, and managed just one touchdown (19 points overall)... The team was guilty of multiple sacks, penalties and botched field goals. If this continues, Baltimore will not win this contest...

Playing a road game on a Thursday night is really difficult (Ray Lewis was vocal this week about that)... The Ravens are traveling on short rest, and the Georgia Dome will be lively...

The Falcons are going to be tough to beat in this spot... They're dominant at home, and this is their chance to prove that they're legitimate Super Bowl contenders... It looks like Roddy White will play...

With the line, you're GIVING the Ravens 1 point... I think they can stay in this game and might give themselves a chance to win, but you're basically playing this game STRAIGHT UP...

I'd have to go with the "odds" then, and take the FALCONS for (0 units)...

I might take a teaser bet and add six points the other way (giving me the RAVENS & a touchdown)...

karen said...

CV, why do you think i have all those candos?! ha ha! they came in handy this month when my friend's daughter had a baby in Calgary, tho.. I rolled up two 100's.. tied them with organza ribbon, and put them in a crystal baby bottle (with silver nipple!)

ben22 said...

well, I gotta go do some blah blah blah again tonight, we'll see how many gold questions we get this go round.....hope roddy white plays b/c I'm starting him, though I'll be rooting for the QB from UD....Joey F.

karen said...

off for some sun, myself.. catch up later..

Jennifer said...

Trader Mark on starting a position in MW: Rationale: Jobless men across America, sitting in homes they no longer need to pay the mortgage on due to the self made "strategic default stimulus", are renting tuxedos as they munch on steaks (also paid for via strategic default stimulus) so as to keep up their self esteem.

hi-ho silver said...

silver nipples bitchez!

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