A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection.
Creditcane™: Where did the bulls find warp engines allowing them to escape the event horizon?
SPXSpinning top day again. Midpoint below EMA(10). Held SMA(89). Further below trend line (3/6/09-7/1/10). Failing the 38.2% retrace (1324.16). No daily 3LB changes (reversal is 1329.47). QE2infinity. "JBTFD. Any questions?"
DXYDoji day (didn't confirm dark cloud cover). Midpoint above EMA(10). No test of 0.0% retrace (72.70). Tested and failed SMA(89). Failed its 38.2% retrace (75.99). No daily 3LB changes (reversal is 74.84).
VIXBearish long day. Midpoint above EMA(10). Still below SMA(144), SMA(89) & SMA(55). Failing its 23.6% retrace (18.28). No daily 3LB changes (reversal is 18.40). Trying to escape the "no fear" zone.
GOLDSpinning top day. Midpoint above EMA(10). No test of 0.0% retrace (1577.40). Held SMA(21). Above its 23.6% retrace (1514.39). No daily 3LB changes (reversal is 1556.40). Holding above upper trend line. Must have the precious.
EURUSDBearish short day. Midpoint below EMA(10). Back below SMA(55). Held SMA(89). Still below its 76.4% retrace (1.4346). No daily 3LB changes (reversal is 1.4323).
JNKDoji day (possible bullish harami star). Midpoint below EMA(10). Failing SMA(21). No test of 0.0% retrace (40.93). Failing its 23.6% retrace (40.61). No daily 3LB changes (reversal is 40.49).
10YR YIELDSpinning top day. Still below all SMA's. Midpoint below EMA(10). Tested and held its 0.0% retrace (30.98). Still below the upper trend line. No daily 3LB changes (reversal is 32.30).
WTIBullish long day (confirmed bullish piercing). Held SMA(144). Midpoint below EMA(10). No test of 0.0% retrace (114.83). Held its 61.8% retrace (98.41). No dally 3LB changes (reversal is 111.41).
SILVERBullish long day. Held SMA(89). Midpoint above EMA(10). Back above the upper trend line.
Above its 61.8% retrace (35.28). New high on daily 3LB (reversal is 33.49). ""You want delivery! You can't handle the delivery!"
EEMBullish engulfing day. Midpoint below EMA(10). Below all SMA's. Held its 61.8% retrace (46.61). No daily 3LB changes (reversal is 47.63).
Gold/Silver Ratio(Weekly). After a double top it's heading lower. Silver is again outperforming gold. Probably means another hike is in the pipeline.
WORLD WIDE PREMIERE JULY 1, 2011
18 comments:
One guy's views:
http://kiddynamitesworld.com/jeff-gundlach-will-now-incur-the-wrath-of-the-metals-community/
Silver now testing $38 before heading to Andy's resistance at $39.
AR, been gobbling up SLV Jun $43 calls throughout yesterday and today... all will be sold by end of this week. Feels kind of good trading again :)
""You want delivery! You can't handle the delivery!"
...hehe
@Amen
Thanks bro... for the GSR chart!
"You want delivery! You can't handle the delivery!"
July we're talking about now... My 'gut' says that ANDY's numbers are right... I'm going to part with some scrap and junk sterling before this weekend...
Really, just converting it to gold (as an arbitrage)... Then, if I start to see under $30 spot prices again, I'll start easing back into physical silver...
What most in the paper markets still don't realize is that if you're going into coin dealerships, they're still selling the premium silver products (like American Eagles & Canadian Maples) for roughly $5 over spot...
My strategy at this point was that I knew I had enough aggregate ounces to satisfy my curiosity when I stopped accumulating back in February...
But that included the weight of 'sterling' that I had hanging around... There's no point in trying to TOP TICK physical Eagles or Maples because of the premium buy back issues...
However... Sterling or junk is a different story... Sterling is 92.5 & junk (coins) are .9...
Frankly, I don't mind holding the coins because I feel they're gonna be the the last best 'barterables' on the block... (Really no different than having frozen meat, or bags of rice)...
Sterling is weird, because unless it has some ornate value, mostly you'll only get 75% - 80% of the spot price (vs. the 92.5% melt value)...
So it 'seems' like you're giving up a lot, but not really if you can catch it right on the paper trade...
So by my standards... a $40 spot price (at .75 buy back) = roughly $30 of .999 silver... Problem is... You'd have to wait to see a $25 spot price on silver to see any coin dealers selling American Eagles or Can. Maples at $30 ($25 spot + $5 premium)...
Therefore the ARBITRAGE...
I think silver may actually move to $26, but from $40, that would be some 30-40% correction... I doubt gold will move that much, and the premiums on gold bullion are way less than silver...
So I'd rather sell the sterling at a high spot price, pay the minimal premium on gold right here (even if it pulls back - you may ask WHY??? but when your exchanging with dealers, it makes you their friend... They hate writing checks, NOR do you want a check because it all gets recorded)...
Ultimately then... keep the gold... But if silver makes it back to $26... Then start paying FRN's again for .999...
Bottom line??? UPGRADE the 'quality' in the process... That's what the exercise is all about...
So that's my explanation of the nuances of the maneuvers for all you fiat lovers out there... Just trying to be helpful...
...& as it turns out, it appears that BELARUS just gave me a little 'bump' window opportunity here...
Welcome To Hyperinflation Hell: Following Currency Devaluation, Belarus Economy Implodes, Sets Blueprint For Developed World Future
http://www.zerohedge.com/article/welcome-hyperinflation-hell-following-currency-devaluation-belarus-economy-implodes-sets-blu
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I suspect the momentum will carry thru, at least tomorrow (Friday if we're lucky)... Then CV's (actually Hugh Hendry's 'holiday' open/close theorem) kicks in...
Hendry traded the commodities desks at Odey Asset Management way back in the day...
Anyway... Looks like CV is heading to the coin & metals exchange tomorrow...
BTW...
IMO... FWIW... For anyone who 'really' knows what I'm talking about here...
I think Doug Kass is being led around by his non-existent foreskin at the moment... ror
CV, I've understood what you've been doing for a while now. If the shit REALLY hits the fan and bucky goes to -0.00-, martial law takes affect and mexicans invading the US and robbing us... all that bad stuff, I have a friend that lives near the colorado river south of Vegas I can go live with and we'll take turns pointing the 30-06 out the window, but, I don't think I'll see this in my lifetime. My trades supplement my paycheck, that's all. I do own coins, still have coins I bought in the 70's. All in all, I love to trade and DO have a vacation spot to go to when/if the world implodes.
JetPaks
what's the deal with Kass?
Yet another various "banquet" and the kids school...the Thespians had to have their night you know. Was also my wife's birthday. Why do chicks value their birthdays more so than men? Most of the guys I know could give a rat's ass about their birthdays. But women? Geezo....
@qqqq
it's actually far simpler than that...
Let me try and put in perspective for you...
- Chances that an asetroid or comet hits the planet & annihilates the human race (in my lifetime) = as close to zero as is mathematically possible... This is underlined by the fact that if CV actually believed this would happen, I'd be saying to buy beer & vodka & live it up...
- Chances that we see a WEIMAR style currency collapse (in my lifetime)... Don't really know... But it's on the radar screen enough to make me want to HEDGE against it...
- Chances that we see a DEFLATIONARY collapse... Hmmm... That's interesting because WHEN do you remember that really happening?... Are you using Japan (over the past 20 years) as an example?... If so, it perhaps seems like a bummer, but not that bad really... The Great Depression??? Perhaps, but life mission of THE BERNANK is that he'll do everything in his power to avoid that... It's too late to change course... Furthermore, he has the 100% endorsement from both Wall St. and the HERO of BR/Thor/dss/& sloppy Joe... BARACK OBAMA... A guy who really doesn't have a fucking clue as to what any of this really means (even if it scrolls across the teleprompter)...
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Where's the MIDDLE GROUND (which is often where outcomes lie)???
'GLIDEPATH BITCHEZ"... That is... Marginally increasing bouts of PRICE INFLATION (during 'monetization' episodes), punctuated by wicked (& short) heaves of deflation...
All HOPING to achieve one goal...
Buy enough time for CB's to seemingly legally print themselves enough FIAT to corner the worlds supply of land & physical assets...
Ultimate fiat destruction will eventually happen at the moment that they are all satisfied that they have enough in their possession to do away with fiat & join themselves together at the round table with their chalices full of wine...
The rest of you dimwits can go on ahead and TRADE the worthless claim notes on assets that were either claimed multiple times over long ago, and don't, in fact, exist...
cv--,
you Know, this: "...The rest of you dimwits can go on ahead and TRADE the worthless claim notes on assets that were either claimed multiple times over long ago, and don't, in fact, exist..."
is, waay, too, "Hard-Core" for too, too, Many to, even, contemplate--let alone, Accept..
AAIP
@AAIP (10:46)
Yeah... I kno... That's why I'll continue to say it... (only in JEST - of course)...
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More JEST...
The Amazing(ly Profitable) Intraday Risk Divergence-Compression Trade Strikes Again
http://www.zerohedge.com/article/amazingly-profitable-intraday-risk-divergence-compression-trade-strikes-again
I swear... It just keeps on getting funnier and funnier for the pattern recognition software crew with the fresh TD Ameritrade accounts looking to "beat the market" at its own game...
http://www.youtube.com/watch?v=3XW_1BRKKYg&feature=related
Call me sentimental...
But THIS was always CV's favorite scene from 'Casablanca'...
http://www.youtube.com/watch?v=HM-E2H1ChJM&NR=1
http://www.zerohedge.com/article/sarah-palins-new-175-million-house-purchase-exposes-another-facet-neverending-housing-scam-s
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Log on to "anti-thesis" anonymoustraders blog to hear scathing condemnation in 5...4...3...2...1
CV, I know there's inflation, and it'll get worse. 5% or more of my profits goes towards PM's.
Ben,
Thanks for the Gundlach interview. Definitely worth watching.
@qqqq (11:18)
Definitely a start...
Look... I'm not preaching anything really R-A-D-I-C-A-L here...
But ask yourself... How many people do you know (let's start with 'friends & family' just for s***'s & giggles) that hold 20% of their net worth... F-ME - even .02%% of their net worth in physical bullion?)...
tick-tick-tick-tick...
Can you even think of (m)any?
Question #2
When was GOLD ever actually 'worthless'... No value... You could basically wipe your ass with it... Can't say the same for "Reichsbank marks", now.. could you?...
How?... Why?... Smarter people than me have the answer to that question...
Bottom line... Cv is not looking to GET RICH in "Reichsbank Marks" (nor, the "stocks", "food", "ES mini's" or "basic services" one could ostensibly procure with them)... in the period between now and when "Rentenmarks" become ushered onto the scene...
cv--,
it's obvious..even, for someone as Intelligent as quadro-q, the Dissonance is, waay, too Heavy..
I'll put his 'Answer' in my own 'Perspective'..
5% of 60%, from 2010, is 3%..of my Nominal 'Gains'..
no offence meant to quadro-q, He is "Free to Choose"..
but, only to Illuminate how, seriously, F___ing "Whipped" the, very, vast Majority are when it comes to *imagining, potential, other forms of 'Financial Discourse'..
peep should, really, denominate their 'Holdings' in Columbian Pesos (for instance) -- then, their 'Goal' would be that much (1/~1100) closer to reach..
AAIP
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