Wednesday, September 30, 2009

THAT DAMN GOLD

Still causing problems here is a late night followup from last nites late nite followup

Gold was causing such a rumpus that most authorities wished it would go away and stop bothering them," as the late Peter Bernstein wrote in his 2000 history, The Power of Gold. But with so much of the world's gold stacked up in their vaults, slipping away was impossible, and the world's monetary system instead "lurched from crisis to crisis" says Francis J.Gavin, University of Texas at Austin's professor of international affairs, in his 2004 monograph, Gold, Dollars & Power.

"There was not one year between 1958 and 1971," Gavin finds, "when the Dollar and gold problem was not the most pressing issue of American foreign economic policy." Or as President Kennedy put it in August 1962, "My God, this is the time...

"If everybody wants gold, we're all going to be ruined

http://news.goldseek.com/BullionVault/1254346220.php

MORE DSCO

Ran across this and thought you might want to read the fine print in this is one paragraph and I include the entire link....

The Company’s top priority is to secure strategic alliance partners and access capital to advance its KL 4 surfactant pipeline, including Surfaxin, Surfaxin LS™ and Aerosurf ® , which have the potential to greatly improve the management of RDS and to potentially redefine the RDS market. Following its anticipated further interaction with the FDA with respect to the BAT optimization and the proposed formal protocols, the Company plans to make a strategic assessment, together with existing and potential new partners, to determine the appropriate level and timing of future Surfaxin investments and to maximize the value of its KL 4 pipeline for the management of RDS.

http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001144204%2D09%2D050880%2Etxt&FilePath=%5C2009%5C09%5C30%5C&CoName=DISCOVERY+LABORATORIES+INC+%2FDE%2F&FormType=8%2DK&RcvdDate=9%2F30%2F2009&pdf=

DISCOVERY LABORATORIES

Great action today but buyer beware.....long term this has a chance to go to 10 bucks....but ONLY trade this baby here. There are still a lot of hurdles this company has to overcome. Now for the pump.....if you get stuck in a trade on this there is some serious potential for their product and "someday" this could really take off.

I think once the next day or so is over the volume will collapse and the movements will get into an established range so have fun. But again their product is real and it works, but their company is the gang that couldn't shoot straight(or worse). Play it but dont't fall in love.

END OF THE QUARTER FIREWORKS

Let's get that tape painted today and then lets climb the mountain of dow 10,000. That is the game. It is still a waiting game unless you are trading the gaps on some of the miners.

The goal of this manipulation has been met to this point. Restore a degree of confidence to the market by destroying the volatility. Put a nightly green close on the market for the evening news so mom and pop can feel that their retirement is not disappearing. Crush the shorts in the market and retain complete upside control.

Just one problem with this . It has consequences. It has moral hazards. It violates natures law. You know that the piper has to be paid. Sorry.....this is only going to be temporizing. Do you fight it ....ARE YOU NUTS??? This is everything our country and the fed has that they are throwing at this and make no mistake this is going to make or break us. Bernanke has repeatedly said that he will do "Whatever it takes".

We are rapidly entering a No Bid zone. Volume is not expanding and the market is in extreme oversold territory. This is probably expected with this degree of manipulation. To prevent a complete no bid the market must correct. And we all know "who" the market is. So it will come be patient. Just be careful with you short entries. I still think we will see downside action before November but I am not betting the farm.

It is a waste of time to explain that a no bid market is unhealthy...GS knows this and my guess is they have constructed a model that intends to bring the so called sideline money back in on the next pullback. Whether that is successful we shall see. This experiment has NEVER been done before ......think about that. NEVER EVER.

One thing I do know. Whether we are in P3(which I doubt) or just a correction soon. They will develop one nasty short squeeze. So why don't we sit back and watch the distribution continue. Watch the tape get painted daily. Use the gaps they give us....and make a little money. Watch SLW SSRI GG ABX GORO AUY our day is coming.....patience......play gaps on LCC CVM NVAX...and keep your cash dry....gl gang

Breaking news on DSCO OMG........take a look at this trade and be careful but small position or trade reasonable just remember these babies are volatile :)
http://www.reuters.com/article/marketsNews/idCNBNG50694420090930?rpc=44

Tuesday, September 29, 2009

LATE NITE GLITTER

A nice guest post on Naked Capitalism that has some nice value to reinforce what we have been saying here for the past 6 months.


Gold prices that jumped above $1,000 an ounce this week are signaling that investors are buying metals to hedge against declines in currencies, former Federal Reserve Chairman Alan Greenspan said.
The gains are “strictly a monetary phenomenon,” Greenspan said today at an investment conference in New York. Rising prices of precious metals and other commodities are “an indication of a very early stage of an endeavor to move away from paper currencies,” he said…
“What is fascinating is the extent to which gold still holds reign over the financial system as the ultimate source of payment,” Greenspan said.
In other words, Greenspan is saying that investors are moving out of the second-to-lowest step on the pyramid (currencies and government bonds) and into the lowest step (gold).
Greenspan is also verifying what goldbugs like Exeter, Fekete and Schoon have been claiming: that “the barbarous relic” still holds an important place in the modern investor’s psyche.
Are Exeter, Fekete and Schoon right? I don’t know. And Greenspan might be wrong, or trying to excuse weakness in the dollar

This article is a very nice summary so please read the entire article

http://www.nakedcapitalism.com/2009/09/guest-post.html

WHY MOMMY WHY

Found the answer allbeit tongue in cheek kind of....amusing ramblings but worth read......

Reuters says the job data will “test the rally.” The New York Times says the ratio between job seekers and jobs available has never been worse.
The Wall Street Journal, on the other hand, tells us that greater than expected profits will support the rally. So far, the increase in stock prices has not come from increased earnings. It’s come from increased P/Es…based on the hope of higher earnings. In terms of forecast earnings, the Dow is selling at a P/E ratio of 27. But in terms of actual, reported earnings…the ratio if 180.

depression ends when it has done its work. It must correct mistakes. It must punish errors. It must destroy the bubble economy…and the mindset of the Bubble Era. Only then can new real, sustainable growth begin again.
So far, in 2009, 95 banks have gone broke. How many more need to go broke before the depression is over? We don’t know. This is where is gets complicated. Because the feds are determined to keep us from finding out!
Here’s how it works. The Fed lends the bankers money. Then, the bankers turn around and lend it back to the feds. The banks are happy; they’re making money on a risk-free trade. The regulators are happy; what could be safer in a bank’s vault than US Treasury bonds? Investors are happy; it looks like the financial sector is making money again. And the feds are happy; they’re able to finance their deficits

Across the river is the great “City” of London…where finance is the #1 industry…
…where earnest men and women toil long hours in glass towers. What are they doing?
‘Look at this chart,’ they tell clients. ‘It shows how much you can expect to make at different risk levels. And see this curve? It is what we call the ‘efficient frontier,’ where the risk/reward relationship is optimized by proper asset allocation.’
‘Wow,’ you say. ‘You must have some pretty smart cookies working for you.’
‘Well, we do our best,’ says the young man, modestly.
In a normal economy, ‘finance’ performs a useful function – helping to match up people who have capital with people who need it. But even when it is on the level, the profession is full of bombast and flimflam.
Those numbers, presented so confidently to customers, were 9/10ths smoke and 1/10th mirror. The new book by Rogoff and Reinhart confirms a point made by our friend Nassim Taleb: both the theory and practice of modern portfolio analysis were flawed. The theory was flawed because people are not reliable. They don’t always react in the way their models predict. What they did in the past may or may not be what they do in the future. And the practice was flawed because the past that the number crunchers looked at was limited to the last 25 years; it was the period since 1980, for which they had the figures! In other words, their models were based on numbers only from the boom years.

Hope you are amused by this article .....I smiled......knowing of course the reality will not be funny, but it still made me chuckle ......have a nice day...

http://news.goldseek.com/DailyReckoning/1254163973.php

THE TAPE IS PAINTED

So what .....relax and enjoy. Notice the little short squeeze in DSCO today....hehe. I am really dirty in that one. Still in mostly cash waiting patiently for my boyz to take this fat pig down so the miners are a bargain.....and I believe they will. And NO I don't believe in the tooth fairy.

Hope you guys got in on that SQNM last nite for the squeeze today. Joe put me on that move last nite. Made a couple of cents. Not much today except DSCO so far. Otherwise you can step into the algo house of horrors if you want by buying tiny SH...I have tiny. Trade it.

Keep your eyes on NVAX at below 4. PLEASE no heavy buying ....remember.....we are staying in mostly cash here. This market is a slaughterhouse here so don't get greedy . CVM looks stable here ....have a small position and hope they pull it back to under a buck then buy that POS.

Lastly but not leastly LCC is entering into seasonal strength and should be great trading fodder for you for another 2 months so put this on the radar...gl gang

http://www.cel-sci.com/CEL-SCI%20-%20presentation%20Fin-June%20(10)%202009.pdf

Monday, September 28, 2009

REPRESENTATIVE DEMOCRACY

Ron Paul is causing problems again. Guess he thinks the public has a right to know where their 13 trillion went. Imagine that. He actually is spouting that the Fed should be audited. Huh...WTF

If the Fed gave its actual arguments against a full audit, they would not have mentioned anything about political independence or economic stability. Instead they would admit they don’t want to be audited because they enjoy their current situation too much. Under the guise of currency control, they are able to help out powerful allies on Wall Street, in exchange for lucrative jobs or who-knows-what favors later on. An audit would expose the Fed as a massive fraud perpetrated on this country, enriching a privileged few bankers at the top of our economic food chain, and leaving the rest of us with massively devalued dollars which we are forced to use by law. An audit would make people realize that, while Bernie Madoff defrauded a lot of investors for a lot of money, the Fed has defrauded every one of us by destroying the value of our money. An honest and full accounting of how the money system really works in this country would mean there is not much of a chance the American people would stand for it anymore.
http://news.goldseek.com/RonPaul/1254161978.php

AHHHH JAVA

It tastes soooooo good.....Well it looks like the pump is on today for Yom Kippur. I am in complete relax mode today watching green....UNG still not participating.

It is still about the dollar and if we get the long awaited short squeeze here over the next few weeks then you know what to do. You will hold your collective noses and buy the miners. Now back to the present I thought they might have one last move in um to touch 10K on the Dow. You know it makes such a nice headline and if you haven't figured it out by now you never will. This is ALL about reestablishing confidence. And they need that headline IMO the sooner the better. Anyway we will see if my hunch is right soon.

Hope you are trading the gaps and sitting on a lot of CASH. Our move is coming in 3 or 4 weeks be patient gang. Meanwhile lets keep our eyes on CVM , NVAX, LCC. These are my trades for next couple months. GL gang.

PS bot lil SH at 1059 we will see
PS insider buying in CVM . http://www.mffais.com/cvm

Saturday, September 26, 2009

SPEAKING OF VIRAL

Back to money making gang.......howz about my favourito spec play pos....this is not the only thing out there on CVM but you may want to hold some of this if you are in the green here already.

This is a reach but this thing has the potential. If you get greedy and lose your ass...I don't want you to cry to me....again..you are playing with dynOmite. But I think you need to keep some in your back pocket.....trade it ...play it but be aware it is a potential.

http://finance.bnet.com/bnet/?GUID=10180937&Page=MediaViewer&Ticker=CVM

ITS GONE VIRAL

When an event caught now days on camera hits the net....even though the mainstream media does not cover it........it creates a buzz that somehow becomes so overwhelming it forces the mainstream to alter their posture and give coverage......so we shall see what transpires with the Grayson interview ....

The video of this triggered flashbacks to 2008 for me and I wanted to share my incoherent ramblings with you. As many of you have tried to sort out truth and reason to know how to deal with this buzz saw of a market I want you to go back to last year. Recall throughout the year as many members of the SKF board ranted how bad things REALLY were .....I began trading SKF in 2007 but did not even post on SKF until April of 2008....As each event would occur and our Officials and Media would reply but everything is going to be fine now.....and is under control. I remember thinking that they were lying . Obviously they had concluded that it was more important to lie to the public to maintain investor confidence even though to many of us it was clear we were in the midst of a monumental meltdown.

I made several posts on SKF throughout 08 that stated that CONfidence was the ONLY thing they had....and that if they lost that then the game was over. Well we know what happened. As 2008 began I could see disturbing signs that things were unraveling rapidly and the big money was exiting the market and the little schmucks were trapped.. What really disturbed me was the turmoil in the money markets that was occurring and created a tremendous level of anxiety in me. Many of you may remember my warnings on this in the summer.

All along ALL of our leaders repeated the SAME mantra. It is all under control and everything will be fine in 2 quarters. In fact since mid 2007 that was the mantra.

What is sad and what makes me even less sanguine is that virtually little has changed. We are trying to use leverage still to exit a leverage problem and the same exact mantra is still being repeated.....BUT here is the problem.

In an effort to be transparent ....the SAME officials Bernanke, Geithner, Greenspan, Paulson,and a host of others.....ALL have said the same thing numerous times in 09 ...that we were on the verge of collapse, anhilation, the edge of the abyss, a complete loss of our capital markets, armagedon.....etc,....they can't contain themselves to tell you how bad it REALLY WAS. Think about it ....they are telling you that they were lying to us then . While you the retail sucker was getting slaughtered. Now they are asking you to believe they are telling you the truth... ARE YOU KIDDIN ME. Sorry ....Jury disregard this witnesses testimony...

Think about it everyfknone ofum is telling you they were lying then but now they are telling the truth..... Sorry but where I come from ...once a liar always a liar.

Anyway here is a blurb from zero and Matt Taibi........now there is a dude.

http://www.zerohedge.com/article/werewolf-dollars-clothing

Friday, September 25, 2009

G20 TAKES FIRM ACTION

I will attempt to translate the headlines from the G20 meeting on Banking first this excerpt...

Public Anger
Leaders are trying to appease public anger after governments bailed out banks across the world and then watched as they quickly returned to profit and resumed setting aside billions for bonuses. The draft communiqué says leaders will tell banks to avoid “multi-year guaranteed bonuses” and allow awards to be deferred or clawed back, according to an official.

Translation.......da masses R gettin pissed lets make this look good....you can rip us off with unnecessary risk taking and we will bail you out......but Puleeeeeeeeeeeeze make the payoff less conspicuous.

After banks wrote down or lost $1.6 trillion, they will also have to increase the quality and quantity of capital they hold as a buffer against future losses, guidelines which must be implemented by the end of 2012, another official from a G-20 nation said. A leverage ratio for banks, which would manage holdings relative to total assets, will be added to the existing Basel II capital rules, which all members will adopt by 2011.

Translation.......if we can run this out a little longer and dump the remainer of our toxic waste on the taxpayers through our carefully designed "relief plans" then we can reduce our leverage to only 30 to 1....

The governments also agreed to establish a “framework for strong sustainable and balanced growth” and sought the help of the International Monetary Fund as they start to regular assess each other’s attempts to meet that objective. The initiative could see China boosting domestic demand, the U.S. saving more and Europe increasing investment in a bid to even out the lopsided flows of trade and investment that contributed to the credit boom and subsequent bust.

Translation....hahahahahahahha....cough choke.....ok....I will try.... here goes.The U.S. saving more.....What are they saving......the greenback.......hahahaa.....ok forget that ....China ..they are boosting domestic demand by giving say 8 credit cards per citizen like us....hmmmmm...last time I checked they were encouraging the citizenry to buy gold........OMG too funny...Europe ......forget it......have a good weekend gang......and gl......

http://www.bloomberg.com/apps/news?pid=20601087&sid=ayYYqcxxtLzA

Now this is a blockbuster of a video and you owe it to yourself to watch this......Alan Grayson is one Tough Cookie......grew up in NY.....he is one tenacious congressman fighting for us.
http://www.youtube.com/watch?v=mXmNpdYpfnk&feature=player_embedded

Thursday, September 24, 2009

DO YOU EVER GET THE FEELING

You are being played......Well of course you are...Now answer this next question and you will know the key to the universe. Where will GS take the market tomorrow. NO I don't just care where it closes ...I want to now the Algo path to the magic pot o gold.....sorry for the freudian gold slip..

Watch the waves ...watch the T/A.....but you may want to watch GS. Because they will enter their trading desks with the high and the low of the day before the market opens. Don't believe it do you? I didn't think you would. But that is the game. We are in deep doo doo and they are holding up the fort.....It is what is allowing you to play this game. So quit your bitchin...and put your mind to work....

Here is my guess for tomorrow 1040 on the downside 1070 on the up.....now where do you think it closes......I just couldn't resist guessing after reading Dano tonight......Ok now back to reality. We know this casino is rigged and the economy is wrecked but lets try to make some green.

YRCW pulled back after the squeeze ....stay away except for gap trades....LCC is another story . Did you see that rebound today ....OMG....Play this dog.....My play on DSCO looks interesting but this is a pig.....so only the money you want to lose. UNG is looking good but no new money there.

DNO is a non leveraged oil short....sold my DTO yesterday....I like a little NVAX here...but mostly you want to be in cash....they are getting ready to squeeze the dollar but we may have a little wiggle room just don't play for that unless you are nimble. Tomorrow will be tricky as hell ..so gl if you are trading...don't forget EDAP on gap trade. OBTW my numbers are GUESS'S

Wednesday, September 23, 2009

I'M NOT BUYIN ANY OF IT

Are we in P3 now.......NO. Are we going to get some nice downside action to trade. Yeh baby. But I would suspect that it will be so disguised (look at today for example). We had a 160 pt dow move......no fear ...none.........the current strategy of taking out your trading stops should continue (look at today).... There is a war on the shorts. Hell its where the money is for the big boys now.

Will they pick the pockets of some longs....but of course. It is the law of the jungle. But make no mistake the shorts are squarely in the crosshairs. Do I still play short. Ubetcha but it is quick and only in certain sectors. Oil is one.....they can't have oil getting too high this time ...the country and the economy won't tolerate it. But they have been taking the stops out on that trade like mad.

Many areas in the transportation sectors are getting clobbered by the real economy.... casinos, trucking, airlines......so the Gov is propping these vital industries through the back door. Look at YRCW today what a squeeze. This IMO will continue to be a pattern as GS tries to maintain the economy at the bequest of the Obama administration (and make a buck at the same time)..Will this work. Probably NOT. But it is the game and it has to be respected. Can we find justice in what happened to piracy that led us to this state of affairs....right now ...no. When the wash out finally occurs down the road......maybe.

Sorry for pumping movies but I can't wait to see Michael Moores new movie on this.

Tomorrow should continue with more obfuscation. I will be looking to trade some gaps in LCC and EDAP and THE MINERS. YRCW was a MONSTER and has more to go but don't chase just play the gaps... Eventually LCC will get squeezed...its all a set up. And remember we are getting close to a pullback and dollar strengthening move....It will be heralded as P3 and the shorts will get slaughtered. Just buy the miners and say piss on um........SSRI SLW AUY ABX GG GORO

HUMP DAY ANTICS

Watta difference a day makes....my LCC trade hit a bump last nite with AH stock offering......hehe......expected move by a desperate industry...but don't puke your shares up if you are playing it. This changes none of my prior thoughts on LCC...watch for the squeeze after the shares are distributed.......

YRCW.....oh boy hope you owned that one this morning......that was a nice scalp trade. Miners pulling back as we wait for dollar strengthening....may still be a few days away. NVAX moving down......see if it hits support. These are very news driven.

I like UNG holding here but time will tell if we are in our seasonal uptrend. DSCO still not moving and yes it is a POS....but I love its product ........hate the company and prior CEO. News in a few days will tell......be careful with this nasty boy....

Chop chop as usual ........no change in our forecast......look for squeezes.....gl

Tuesday, September 22, 2009

DRUMBEAT OF SILVER CONTINUES

Mogambo ate a large bowl of beans and hot sauce but he is right timing who knows but long term ohhhh baaaby.......kapow.........

He characterizes this as “grotesque beyond description”, which I guess it is, since it is hard to even imagine such a thing, which implies that these “four or less” banks are so stupid that they would be short silver when the fundamentals are so compelling that my throat is bloody and raw from screaming, “The fundamentals of silver are compelling!”
And this is even ignoring the headline “Gold & Silver Market Alert – Buy before the Breakout!” from Julian Phillips
at Goldforescaster.com, which reflects my sentiments exactly.
In gold, the situation is similar, in that Mr. Steer says, “The bullion banks’ net short position now stands at 211,342 contracts… 21.1 million ounces. This is well over 25% of world gold production. This is also grotesque beyond description

http://www.bearmarketinvestments.com/silver-and-its-large-short-position

ITS A BULL BREAKOUT

Hmmm......no......not today. But I bet you can guess my next wild prediction...yup...you were correct...more chop.....don't biatch. You should have bought the miners yesterday when gold was down for the trade today......Now lets see if they can get gold to 1040........then we will see. It starts to get a little heavy there. Watch um just blast through 1040 like a knife through butta.

I still think we are gettin close to our pullback so be cautious with long positions ...should be short term trades only ...unless you are in LCC for the fall ramp......watch 6.10 on LCC if they take it out with volume some shorts will get slaughtered...

CVM is a monster but I would not play it except for a gap trade. I am keeping my eye on DSCO ..another biotech POS that I lost money on a few years ago when the Bush administration put the kabosh on that industry by squelching FDA approval process. They could be a trade over the next few days..........trade ONLY.......buyer beware.

Don't forget NVAX...its still a trade....gl gang remember the forecast partly cloudy....oh oil up :)

Monday, September 21, 2009

THIS IS THE WHOLE BALL OF WAX

Comprehension of the cycles are paramount if you wish to survive this catastrophe...The link I will provide here is critical reading....do not scan this .....study it and know what the implications of this......ALL of it.....every single sentence is critical..... bookmark the link below and reread....this is THE WHOLE GAME...absolutely crucial...gl

http://news.goldseek.com/ClifDroke/1253308425.php

MONDAY CRASH

Hmmmm....no......notta chance......forecast today is partly cloudy with a chance of rain this pm. But I did notice a nice Bloomberg article on the Fed and our Governments attempt to interfere with their independence (sarcasm). Can you imagine our government trying to create transparency in the Fed. THE AUDACITY.

I liked this little excerpt “It is not obvious at all why that is a Treasury responsibility or even appropriate why the Treasury would undertake that kind of study,” said Robert Eisenbeis, chief monetary economist at Cumberland Advisors Inc. in Vineland, New Jersey, and a former Atlanta Fed research director. “The Fed was created by Congress and it is not part of the executive branch.”

Now I know that many of you are strong supporters of Uncle Ben's little machine, but you must find it a little strange that they wish to remain so opaque. What could they be hiding?

Legislation in both houses of Congress would allow for audits by the Government Accountability Office of the central bank’s monetary policy and other operations. Bernanke opposes the measure, which was introduced in the House by Representative Ron Paul of Texas, a Republican. Frank has scheduled a committee hearing on the issue for Sept. 25.

Don't get too excited ....one prediction that is safe to make is any changes in the Fed will be illusory at best. This is one powerful entity and no significant change in transparency will occur.. http://www.bloomberg.com/apps/news?pid=20601103&sid=adjvXg1zP.zY

Now for today.... today's market prediction is like being a weather forecaster for L.A. In keeping with my boring previous several weeks.....chop chop........keep the dollar above 75..keep oil below 75......and algo HFT the rest of the players to hell.....watch for gap trades in miners today. Wonder if CVM moves this week. LCC may get its seasonal run....it has made a nice trade. GL gang and stay alive........

Sunday, September 20, 2009

WHAT I DID ON MY SUMMER VACATION

Or more importantly.....whats next week gonna be. My instincts say that we are still in a prolonged distribution. With the exceptional volume in one trader how else could you reach any other conclusion.

Cycle theory says we should start seeing cracks in the wall soon but that may have a little wiggle room so be cautious with short entry. I am watching oil very closely for hints....it has to get through 75 to carry us to a near term 1200 and I just don't see that . So use your brain with what I just told you.

Watch EDAP UNG and especially for safer plays AUY SSRI on gap trade plays. Also CVM NVAX are nice gambles especially on gaps. Keep your cash heavy here and let the "Boyz" show you their play. Greed will kill you in this market. One of my partners is a greedy little bastard (he reads this blog hehe) and asked me in March about LVS. I hate the casinos long term. But I told him go for it ....P2 is gonna be a monster. He did . Heavy play. Today he is out LVS was 3.50 and today it went over 19..... Lesson here is this whole mess is a casino and you don't have to be the best market player to make money.....but you have to be in the game .....Just remember its a game and if you lose......it better be money you can afford to lose. Otherwise you are insane.

Saturday, September 19, 2009

WHY ARE WE DOIN THIS

Someone asked me recently WHY am I doing this. In other words ....Why am I in this market? Why do I spend all this time in a rigged casino? Because ..................I am trying to make some money. Soooo How do you do it? You GAMBLE. This is one GIANT CRAP SHOOT. And you better understand that if you are going to keep playing this game.

This has always to some degree been a rigged game. But if you can gain some knowledge and make the right bet .......who knows you might make some money..... I have played this game for almost 30 years and taken a number of famous beatings.....I learn something new all the time and hope that you will too.

Now back to earth. This is as rigged as I have ever seen this thing called a stock market. So if you are a newbie realize that there is an excellent chance when this hurricane is all over with in 2014 there is a good chance you could be picked clean. The alternative is get out now and go to physical gold or silver and prepare for the storm.... This is probably the smartest. My money is 401K and I am going to stay in the game but my eyes are wide open and MAYBE just MAYBE I will make the right move. I listen to a lot of people more bright than I......and make up my own decision in the end......you do the same .......make your own decision and LIVE with it.

I hope all of you make it and I hope all of you make money in this absolute mess. Remember above all there are going to be lots of families enduring terrible suffering....help them as much as you can it will be the ONLY thing that will live with you till the day you die....gl to you all.

Friday, September 18, 2009

CVM NEWS

This baby is in play ...........take a look and watch this pos move......
http://www.nasdaq.com//aspxcontent/newsstory.aspx?symbol=CVM&selected=CVM&textpath=20090918%5CACQINW200909181440MRKTWIREUSPR%5F%5F%5F%5F0538736%2Ehtm&cdtime=09%2F18%2F2009+2%3A40PM

JUST ANOTHER DAY IN PARADISE

Its GREEN weeeeeeeeee. I just don't believe it. More chop today . So try to find your gaps. Watching for my usual suspects. Look at the miners for safer gap plays. But the Algo chop machine is still leaning long.

The flu has been no big deal so far. Sore throat body aches fatigue.chills bla bla...Good to get it now this is a mild strain.

Watch oil today.....It still is not selling and transports are up so they are still on the dollar dump trade....Gold up silver red hmmmmmmm. This rally is getting close but remember being short here is still a tough game. Thnx for kind words and gl to you all. My brain is slower than nl so no further torture to you.

Thursday, September 17, 2009

H1N1 GOT ME

Ugggggggggggggggggggggggggggggggggggg... talk to ya after more sleep........later tonight......

LIKE DUCKS ON A POND

The algo shooting gallery continues this morning. I maintain my UBER BEAR CALL from a week ago......I also said at the end of that call that we were not in P2...I maintain that P3 will be pushed down the road a considerable distance....and I also feel that the pullback will feel like P3 and will eventually draw enough bears in for the kill to not only drive the market to my 1200 level but to rearrange the structure of Wall Street even further by taking out the remaining bears.

So if it seems confusing to issue an Uber bear call and at the same time advise you to go to cash and be very very careful short except for scalps.......well now you see....its a stop shop shooting gallery as GS cleans the deck of the good ship lollipop.......Take a look at danos blog.....he's the best chart out there but its frustrating to watch his excellent work being shot by the GS algo killing machine. I do like his last call for a short term top but not P2.. BTW he is watched very closely for sentiment.

Keep sittin tight and scalping lets see where they take this mess. My thoughts were correction towards end of September but we will see.......mostly cash now......so lets see how they finish this pig off......for hints read my link from Jesse.......

http://jessescrossroadscafe.blogspot.com/

OBTW......did you miss that shooting gallery on LCC today.......OMG

Wednesday, September 16, 2009

WHATS THE NEXT BUBBLE

Ass kicker Mike Pento takes on Ben and his track record. Pay attention to his take on the credibility factor....Should you take his advice and pile into gold......sure.......but when.......maybe we get our chance soon....BUT....if the dollar breaks 75 you are going to have to take a heavier stake in the miners and boy you better hope I am wrong......that means severe STAGFLATION and I don't mean in a few years . I am talking FAST and HARD. Just the way you like it. Except it won't be the way you like it. It will be prison sex. Bread 5 dollars a loaf then ten dollars a loaf....eggs 5 dollars then 20 dollars. Gas 5 dollars a gallon overnight seemingly. It will be fast brutal and absolutely no fkn prisoners.......nuclear winter.

Now for the good news....I believe GS still has control.....and are preparing to at least hold the dollar and squeeze the shorts hard. If I am wrong..........we are all FKD.....there is no way to judge right now if I am right but the answer will appear soon ........watch the USD.....
http://finance.yahoo.com/tech-ticker/article/332860/Go-for-Gold-Inflation-Is-Here-and-Going-to-Get-%22Much-Much-Worse%22-Pento-Says?tickers=GLD,EGO,GEX,TIP,TLT,TBT,UDN&sec=topStories&pos=8&asset=&ccode=

ART CASHIN IS BAFFLED

Baffled... 1. To frustrate or check (a person) as by confusing or perplexing; stymie. Art is stymied. Mail him the blog ....better yet send him the link on this post today. Get over it Art. This is the game. Its called Quantitative Easing (QE). Monetizing the debt. Your old ass has never been through anything like this so of course you are confused. Have another single malt. This is for the big boyz (btw I am not one of those big boyz). But if you watched Art today he gave you a great piece of advice.......he is on the sidelines... He admits he has missed the last several weeks of the bull move.

Understand the significance of this. A seasoned veteran albeit slightly pickled......openly states he is scared shitless of this market.... I love it. Poor Art. Remember how you were advised to play this. Either on the sidelines for past 2weeks or scalping on the miners or playing some of the spec plays like CVM (OMG did you see that the last 2 days).

Back to earth .....I got dizzy on that last long shot... watch YRCW and LCC for pump jobs ...but always have stops and play on gaps. Still trying my DTO shots. UNG no fkn idea but have played it. Anyway not important what I do.

Watch the dollar some of the smart money that throws me red meat says that they could be trying to front run the cycles. Could be. But if that happens you will see the USD crack 75 so keep your eyes peeled. Not buying it yet. gl.......

http://jessescrossroadscafe.blogspot.com/

Tuesday, September 15, 2009

AND THE BEAT GOES ON

This is like the weather forecast for L.A......Chop Shop .. Status Quo....No Bid. Same nonsense. Will the air be put back into the great Ponzi? Well that is the 64K question. Social mood is deteriorating or is it? Can the Con be put back into confidence ...well I guess time will be the judge.

I will continue to maintain my relatively small miners position and trade gaps with my previously mentioned stocks. Also still in a UNG position but that one will take some time to work out :) Beware we are still in a market on life support so trade and enter at your own risk. The USD is just getting flattened and as expected last year China and others are now rising on the horizon as a looming problem. GL gang. sit and wait.

Monday, September 14, 2009

CONTINUED BEAT DOWN

Sentiment continues to expect pullback, and yes one will come. But ........ how long can one remain solvent being right. So as previously stated beware.....this is a completely controlled market. Its an illusion. When there are no shares traded then of course it can be easily controlled. Will we go endlessly higher .......no. But do metrics and T/A matter?.....I guess if you can't see the answer by now you never will......

No links this morning .......later on that. Hope you noticed what happened overseas and during the night to futures........the selloff was nipped in the bud. This cycle will continue to occur until there are essentially minimum shorts then the rip occurs....Joe's cycle analysis is last of September ........maybe ......maybe not.. But it is still in play as a pullback time....... and Joe will tell you that it is NOT set in concrete. So caution is still the word....If you want to short this market look at SH. Decay will not kill you. GL gang

Saturday, September 12, 2009

THE ULTIMATE CON BEWARE OF THIS STORY

Today's landscape continues to evolve with the deleveraging of the financial landscape. As many areas show a renewed vigor for risk and as we plow our precious resources into backing a new derivative based reinflation effort http://www.economicpopulist.org/content/trying-reinflate-housing-bubble-your-tax-dollars Will this work. You had better hope it does....because that is the end...its over......kaput.....(see 2012-2014 end of supercycle).

Even though we are desperately fighting to prevent deleveraging... other areas are not. Just look at some of the hottest regions for evidence of the "real story"....

Istithmar spent more than $25 billion on investments this decade, according to the Monitor-FEEM SWF transaction database. Among its investments are Yacht Haven Grande, a marina complex in the Caribbean, the W Hotel Union Square in New York and GLG Partners Inc., a hedge fund that has lost more than 61 percent of its value since the deal was announced in June 2007.
“Istithmar is in serious trouble,” said Rochdi Younsi, head of Middle East research at New York-based Eurasia Group. “At Istithmar, there’s a feeling that jobs aren’t secure and it wouldn’t be a surprise if the firm just disappeared http://www.bloomberg.com/apps/news?pid=20601109&sid=aB7Po3XKk7HI

So sure.....we are releveraging.....at least we appear to be .....but what of the rest of the world? Do they have the world's reserve currency status to print until their populace is forced to convert from risk adverse assets to risk..well apparently not all. And now the the meat of this post and the story that underlies the premise of the delevering of leverage ...or where the con meets the ponzi..... READ ALL OF THE FINAL LINK......here is a tidbit

When Bear Stearns collapsed in March 2008 (incidentally at the then-highest price for silver in decades - $21), there was no one willing to take over their giant COMEX silver short position and the offsetting Chinese OTC contracts. Enter JPMorgan Chase. Remember, this was a time of great stress to the financial system and all efforts were directed to quickly fixing problems that arose. The giant silver short position at Bear Stearns was one such problem. With federal government guarantees against loss and criminal prosecution, JPMorgan did assume the role of master of the silver market. All this was revealed in subsequent Bank Participation Reports and in correspondence from the CFTC to various lawmakers. Since that time, JPMorgan has managed the giant silver short position. My speculation includes that Morgan has quietly offset its COMEX short position over the past year and a half with other unsuspecting parties in the OTC market.


The CON is in these final links for g_ds sake read these last two
This link is a must read http://education.wallstreetsurvivor.com/chinese-defaults-Gold-Silver
And for those that like to view an entertaining and fabulous interview... http://www.youtube.com/watch?v=Q9DaloQskjc

Friday, September 11, 2009

WHERE ARE WE

Regurgitation of this week is simple. CHOP CHOP. Second line traders holding the fort until the reinforcements arrive fresh Monday at there battle stations.

What will a full trading desk look like Monday....I suspect NONE of you know. But one thing seems certain we are nearing a significant pullback...Dollar....Gold.....Oil. Tired looking market, Destroyed shorts...all Screaming for a good washing......rinsing .....and repeating.

As discussed briefly yesterday we are in a NO BID market. Will GS continue to grind the market up. Who the fock cares. Really .....are you going to bet against them. EXACTLY. They have accomplished their intent. Market stabilization. So now its time to take care of some unfinished details(see above). Its a little too easy to say it all begins monday but it might. My feeling is we get another chop week with the chops more severe. So watch your trades and let um pull this pig down on their own schedule. For a more eloquent delivery of this message hit this link.
http://jessescrossroadscafe.blogspot.com/

MORE PAIN FOR SHORTS

Looks like they will keep the pressure on awhile longer.........shocking (sarcasm) :)....anyway have been scalping on LCC EDAP today.....not trading my goldminer core further here.....Remember to keep your eye on oil to push 75. You can play it here if you wish but I will wait for closer to 75. Some very sharp traders are getting uncomfortable with the market as I am so this should indicate the late september call may still be correct......

One thing is for certain .....the behavior of this market is clearly that of a gravely injured beast on life support. Propped up by the fed and ventilated by GS et al. For your sake and mine they better succeed. Unfortunately I am not a half full guy here and fear the end is going to be ugly for the country. Perhaps the QE and Monetizatiion is the best strategy but time will be the judge and not the near term.

Now for the immediate ...be patient keep your eye on the dollar, oil , gold.......forget the market its just a chop shop until the dollar move begins. If they fail and lose the dollar (which I don't see yet) we are through. Gold to 1400 in the near term if that happens. GL gang...here is Droke

http://news.goldseek.com/ClifDroke/1252562700.php

Thursday, September 10, 2009

NO BID

Wilsin on SKF has been one of the posters to mention this issue a number of times as a consequence of the current market manipulation. It is THE risk of a rigged casino. Would you sit down at a casino table that you believed was rigged? Of course not. There is no real volume underlying the HFT and there most likely will not be. The question in the near term is what would return the suckers to the table.

I maintain that the next step in this process to "maintain the PONZI" is how to lure the remaining "money on the sidelines" back into the "rigged casino". So the next step will be the engineered market pullback and dollar strengthening. Again I refer you to yesterday's incredible essay http://tradingwithtoastmaster.blogspot.com/2009/09/circumstantial-theories-on-markets.html

Without a serious pullback in the market sideline money will not move into risky assets here. Sideline money is not moving into the market at these levels and for the final push to 1200 they need to see a "bargain". GS has and will continue the process of HFT but that also will occur in a down move also. So you see....GS cannot lose. In fact Mr. Blankfein made a very nice impression on me yesterday with his speech condemning excessive executive pay in the banking institutions that "weren't profitable". Now that is PROFOUND. The governement and FED (see PONZI) backstop your HFT plan with QE monetization and you have the audacity to pontificate on your moral highground of giving bonuses by saying you are FKN PROFITABLE. TOO FKN funny. http://wallstreetblips.dailyradar.com/story/blankfein-on-bonuses-and-regulation/

Expect contiuned chop for now but we are inching closer to some meaningful pullback...but do not expect the cataclysmic P3 in the near term ..Gl and wait for them to come to you. Watch USD gotta hold 75 now......gold...need to keep below 1000........oil need to stay below 75.

Wednesday, September 9, 2009

PPT CONSPIRACY BY TOASTMASTER

Worthy of a lengthy opening rant but don't have time on the run.....JEEZE this is good stuff. If you want to read a well written article on why this is ultimately going to end very badly this should explain......the downside of all of this is liquidity is being sucked out of the market by GS et al. and this will be a Law of Nature consequence that MUST be paid. read um and weep..thnx anon for finding this..........

http://tradingwithtoastmaster.blogspot.com/2009/09/circumstantial-theories-on-markets.html

WARNING SIGNS

Several indicators have pointed towards the third week in September as a critical market time. And this subject has managed to linger under the surface but like magic......it emerges. If there is a preemptive strike on Iran it would certainly trigger a dollar strengthening fear trade event. Unfortunately the stock market will tank........but that is going to occur with a dollar rally . Also we may get an oil spike ...so not sure this strike will be a reality but you must keep it in mind....the effect on gold could also be negative with a strong dollar rally. Or it could also rally hard......oh well keep your eyes on this news..I do not like the tone of this news and it could really create further problems globally. But certainly the drumbeat to war will have some airtime in the days to come.
http://www.bloomberg.com/apps/news?pid=20601087&sid=a0IZLmYI8trA

Tuesday, September 8, 2009

REIGN OF TERROR

Can we sustain the algo trading assault by GS and et al. with the full backing of the Fed and tacit if not direct approval by the highest office in the land...........yes.....of course you can. You know that we have collapsed economically and that this is an epic battle to perpetuate the largest fraud conducted in modern economic history. SO WHAT?

The law of nature demands payment and it will receive payment one way or another. This abomination of our economic system does have consequences. These comments may indicate that I am in a state of agitation......hehe...actually I am quite fascinated by the machinations of a wounded system of greed and corruption. The extent to which they will go to sacrifice our souls to achieve their salvation.

There is no ethical or legal bridge they will not cross to perpetuate their fraudulent purpose. Our hard working citizens are pawns for the banksters and nothing more. Only little people to be sacrificed for another porsche (btw i like porsche)...Yup just toe jam on the road to life. So enjoy the bones that get thrown your way like gangs of hungry peasants...for you are owned...

Tomorrow should be another fight for a bone. Watch USD Gold Oil they are telling you the real story...this is a global struggle now and this week is fascinating. GS hopefully is preparing to squeeze the dollar shorts hard...(notice i said hopefully). Do NOT trade this pig yet except for gaps and only with miners.....gl gang aint it a peach.

And for your viewing pleasure this link may knock some reality into the pollyannas....
http://www.bloomberg.com/apps/news?pid=20601087&sid=avvF5aNtrCfc

Furthermore if you think I am dour.....read this well researched post...
http://www.nakedcapitalism.com/2009/09/guest-post-how-bad-will-unemployment-get-and-what-can-we-do-about-it.html

LOW VOLUME CHOP SHOP

Watch out traders. As I warned you a week ago don't be trading this pig right here. We are in a well designed human slaughterhouse. Designed to separate you from your money...Designed to make T/A to be short for TAKE ALL. I smell dead people. Anyway this is going to be a continuation of last week. Underneath the calm sea is a titanic struggle of epic proportions that will effect economics for decades to come.

Watch for hints this week who is winning....watch the T auctions ....USD......gold.......my guess is the dollar weakens slightly this week but "sort of " holds 78.....and gold trims back end of week... correction 75 is the number to watch not 78....if 75 breaks then add gold miners.

I like this article .....please take the time to understand....it is fascinating.

http://seekingalpha.com/article/157922-how-to-trade-using-game-theory

Monday, September 7, 2009

CHINA IS ALARMED

Imagine that... over WHAT? We have the perfect right to print money and use our status as the world's reserve currency to prop up our banksters and maintain our military industrial complex..not to mention throwing the masses an occaisional bone for their clunkers. So what the hell is all the fuss about.

Recently Cheng Siwei, former vice-chairman of the Standing Committee and now head of China's green energy drive, said Beijing was dismayed by the Fed's recourse to "credit easing".

The audacity of this putz to challenge United Sachs and our prop job. Doesn't he realize we are in the midst of a global collapse and that we are trying to save ourselves first. Get in line buddy ...this is first come first served.....and he further adds in the article below


"If they keep printing money to buy bonds it will lead to inflation, and after a year or two the dollar will fall hard. Most of our foreign reserves are in US bonds and this is very difficult to change, so we will diversify incremental reserves into euros, yen, and other currencies," he said.

Now maybe you think this sounds reasonable for this upstart in the big boy economic world to sound off like this but he doesn't know who he is messin with. We can kick his axx all over the place....hell we will just clear cut a couple thousand acres tomorrow and print a couple trillion more USD. THAT PUNK.

Couple this with my earlier posts and a pattern is developing ...the article goes on to say...
Gold is definitely an alternative, but when we buy, the price goes up. We have to do it carefully so as not to stimulate the markets," he added.
The comments suggest that China has become the driving force in the gold market and can be counted on to buy whenever there is a price dip, putting a floor under any correction.

This is a clear call to arms and will continue to be the play . Read the entire article...

http://www.telegraph.co.uk/finance/economics/6146957/China-alarmed-by-US-money-printing.html

BUSTED: THE U.S. ACCUSED OF A CON GAME

UN calls for new global reserve currency after concluding that the US is running a CON game on the world. Say it aint so joe. Our country cannot be possibly lying. After all we are only trying to maintain world liquididty and I do want another McMansion to match my current Frank Loyd Wright home. So I am hoping that this just more posturing from the peanut gallery. Surely the world will continue to allow the banksters to rape them without even a kiss.

“The most important lesson of the global crisis is that financial markets don’t get prices right,” Flassbeck said. “Governments are being tempted by the resulting confidence game catering to financial-market participants who have shown they’re inept at assessing risk.”

Maybe if we can provide some more newly printed greenbacks these pesky upstarts will back away from some of this gold news this weekend. After all fiat is the road to prosperity..

http://www.bloomberg.com/apps/news?pid=20601087&sid=aSp9VoPeHquI

Sunday, September 6, 2009

NIGHTMARE IN LITTLE CHINA

This is the clearest set up to what I think our future holds that I have found. We have a clear signal now that the reserve currency status of the dollar is going to come to an end in a very ugly way as we monetize our debt at the expense of our citizenry and the world that holds our debt. It has to end but how, when, and at what expense to the investor class and ultimately our country.

I have looked at some research this weekend and have come to several conclusions with at least a reasonably high degree of being accurate. First I believe the attempt to push us into risk assets will have to be set aside in the very near future to drive us back into bonds and USD. This fear trade may last for a month or two before the wash rinse and repeat.......and in my opinion it will be the last opportunity for the trade in miners I have been yelling about for a few months now.

Can we trust this scenario to play out. NO .. That is why you need a 20% position in the miners. You pick... If we get my play then sometime in october we should get the final buy point...as USD strength gets serious. I will post either tomorrow more support for this but tonight read this article first...

http://news.goldseek.com/GoldSeek/1252086353.php

MADOFF GETS THE NOD STANFORD ZERO

Tragedy strikes in many forms. This is a tale of tragedy for some that read this and for others it is a tale of greed, stupidity, and I told you so. I don't know where I fall in this tale since the facts are not all in but I know what my bloodhound nose tells me...and that is .... there is something rotten here and smells like three day old underwear.

Many of you are aware of the Stanford case and the collapse of his investment empire. What most of you including myself are not aware of is WHY his investors were not provided the same SIPC coverage that the Madoff ponzi investors were given....up to 500K. If your memory is good you will remember that on CNBC and all media outlets at that time...they were immediately providing information to the general public that ALL Madoff investors would receive SIPC... within hours of the announcement......reassurrance to bruised and battered public.

We were still in a spiralling collapse of investor sentiment with the government pulling every rabbit out of there hats to stop the CONfidence slide. Recall numerous previous posts referring to this effort and its ultimate importance ... see dano's post today... http://danericselliottwaves.blogspot.com/

Other issues to be included in this issue involve why did Stanford investors receive NO SIPC coverage and Madoffs .......IMMEDIATELY... Once again we are dealing with inconsistencies that ultimately will undermine CONfidence in our so called free markets. And do not jump to the conclusion that I want Stanfords investors to receive SIPC ... My point is simply that the lack of consistency is unsettling....you may draw your own conclusions as to the motives. I like this...“I bought from an American broker at an American brokerage house that I thought was just like Merrill Lynch or any other brokerage,” Smith said. “But it turns out we didn’t buy anything. Our money was just cash that passed through the brokerage and the bank, and then Stanford spent it, just like Madoff did.”

I suggest you read the link in its entirety ..afterwards you can form an opinion but I warn you it is convoluted and requires more legal expertise than I possess. But I do have an opinion on the ramifications of these occurrences.....they are all damaging and have ultimate consequences that undermine our economic existence. GL gang and happy holiday......

http://www.bloomberg.com/apps/news?pid=20603037&sid=aWbj45r1p2eE

Saturday, September 5, 2009

SUMMER IS OVER

Another year has almost passed since our country's economy collapsed according to Bernanke et. al. http://www.nytimes.com/2008/09/15/business/15lehman.html As I watch the daily coordinated efforts of the politicians, media, pundits, and wall street working feverishly to keep the patient alive, I continue to look back and ahead.

I look back for clues as to what the future may hold and I look ahead to try and prepare for my family and their survival. What kind of world are we headed into? The spend spend illusion created by the banksters is over. Will we spiral into a deleveraging world of savings and conservation ...preserving the responsible members of our society and their savings. Or will we stay on our current course.

Obviously the current course is not going to change soon. So lets examine some of the pitfalls of our path that we are on. Quantitative easing ...QE..is the Bankster's (see capone pic) way of pumping air into the ponzi bubble (see Madoff) ..Some of you may ask...Can this work? My answer is complex.......Not a snowball's chance in hell......sorry couln't resist.

How about that good bank bad bank idea. Now there was a total pile of chit (apologize for language today) but it is labor day weekend and a lot of people that used to work read this blog. Anyway they came up with a much better idea. Oh the beauty of it. Lets put 10 trillion of guarantees thru the back door and maybe as much as 23 trillion http://i.abcnews.com/Business/Politics/story?id=8140184&page=1

Now we have guaranteed the survival of the Banksters......and the destruction of the middle class. But hey, why bother with the little people .....they are busy fighting about who caused this mess ...the dems or the reps......THEY BOTH DID.......GET IT... hehehe.... Anyway I can't stand George Bush but it doesn't matter. Because the government we got is the government we deserve.
“Democracy is a device that insures we shall be governed no better than we deserve.”

Bernard Shaw quote

Friday, September 4, 2009

TEN BILLION PROBABLY WON'T FIT IN THIS

"I've got more bags here".......hehehe.....OMG ....this is gonna be gooood.......I hope he shoves it up their axxes.......hehehe........OMG LMFAO...but ya know what is sad.....those of us that got it right are really gonna get it too......and our choices are in that clip......... none are good

http://www.youtube.com/watch?v=tZXjqROissQ

http://www.youtube.com/watch?v=LNOrGAt-97Q&NR=1

THE REAL PROBLEM ...CONfidence

The key to the entire puzzle.....the conundrum.....the illusion that we are in a market.....the economic "recovery".........the slaughter of the dollar........It is ALL about confidence. This is a global economic COLLAPSE and the daily barrage of lies are for a reason.......understand this and you have the key to your future investment strategy....this is an excerpt from the below link...


If people and corporations are unwilling to borrow or unable to finance debt, and if banks and investors are disinclined to lend, central banks cannot force them to do so. During deflation, they cannot even induce them to do so with a zero interest rate. That’s what has been happening in Japan for over a decade, where rates have fallen effectively to zero but the volume of credit is still contracting.

Thus, regardless of assertions to the contrary, the Fed’s purported “control” of borrowing, lending and interest rates ultimately depends upon an accommodating market psychology and cannot be set by decree.
http://www.elliottwave.com/freeupdates/archives/2009/09/03/Illusion-of-Control-The-Fed-Stock-Market-and-Economy.aspx

MORNING NOISE

The scam continues...great news today unemployment......9.7.....market rallying (albeit weakly) at premarket time....DOLLAR DOWN......GOLD DOWN.....don't ya luv it........Now back to my rambling thought process.......sorry but it looks like another STOP SHOP DAY. So play it that way if you must trade ......play the gaps on your favs......I like miners for gap plays.. so we will see.

Back to the numbers......our country is in deep doodoo......and the sound you hear coming from the talking heads is not accidental....there is a concerted effort to spin all this devastating news to give the best effect to consumer confidence. Remember this is all about CONfidence....ie.. maintain the shell game (see ponzi)..and without meaningful job recovery on the horizon this economy has nothing but hot air.

How does all of this effect your investment decisions ???? Well if you believe that quantitative easing (QE) will continue as our government monetizes an exploding debt bubble and the economy will continue to struggle then STAGFLATION becomes expected to continue in the near term with hyperinflation as a possible down the road scenario. Of course Kress predicts True Deflation to begin in 2012 to 2014........so we still have time to profit from the inflation trade.

I maintain we are not in P3 yet but we should be beginning a near term market correction through most of October. Do not be heavy long or short here. In fact trading the next few weeks will be treacherous......if they jack this baby to the 50 fib ...around 1100 on SnP in the next 2 weeks maybe lean short...but man...this is going to be wicked ......just watch today...watch um keep this in a range with that ugly 9.7 number.......It will be headlines ALL OVER the news tonight......I can hear the last sentence from Brian Williams now....."but the DOW closed up 49 points......hehehe......watta scam ...watta game ....watta joke.......gl gang

Thursday, September 3, 2009

NIGHT TIME READ

Jim Willie is a sharp tack with a phd in Statistics and had a nice piece today here is a quick chunk from the end.......

FINAL NOTES OF ANNOYANCE
By the way, three final asides, the first of vital importance like a event within a global earthquake, the second a likely critical breakdown element, and the third as important as a small dog biting at oversized winter boots. The Madoff story has officially become a revelation of USGovt collusion with profound fraud. Questions of how stupid the Securities & Exchange Commission could be in their lax examination of the Madoff operations have turned to how this case could have developed without USGovt active participation. Recall Madoff was kept out of prison during bail proceedings, so that the USGovt could learn where the stolen funds were located. That pursuit fizzled since USGovt officials know precisely where the funds are hidden. See the tiny MidEast ally that looks northwesterly to Italy.

Rumors swirled on Tuesday of an imminent large US bank suffering a death experience. See Wells Fargo for a likely candidate. Its bank stock option put contract activity hinted of a walk down Death Row. But wait! They passed the Stress Test, did they not ?!? Yes, they did. They passed the rigged stress tests that contained very little programmed stress and avoided the entire second round of bank assaults. Even USFed Chairman Bernanke (last guy to figure out anything anything anything) noted that the commercial mortgage sector will deliver powerful losses to US banks. Those losses will show up this autumn and winter, with big blows next spring. The already insolvent big US banks will probably admit their ruin by then. Maybe when such facts are more clear, the nation will be subjected to a US Bank Holiday. During the holiday, watch Wall Street and other Big Banks demand mergers with the scores of midsized regional banks. Instead of liquidation of Big Banks, expect them to take full control of the entire national banking structures. If you think that item was included in the Stress Test, you are a moron. The Politburo tagteams are being formed.

The second aside is to Karl Denninger. My detailed critique last week was not matched in kind. Instead he resorted to schoolyard name calling, showing a lack of depth, lack of character, a confirmation of limited vision. He has apparently missed a dozen major stories this decade that each reek of conspiracy. Let me mention only a couple. The Lehman failure was approved in order to resupply JPMorgan with $138 billion in the supposed honoring of the Lehman private accounts. Their failure was one of my fantastic stories laid out one month in advance, and permitted JPMorgan to avoid its own demise. Oh yes, JPMorgan records on Enron were located in the third World Trade Center building that was treated to demolition, without benefit of an aircraft impact. The other story is right under your nose. The appointment of Tim Geithner as Treasury Secretary is a continued conspiracy for Goldman Sachs control. My Hat Trick Letter laid out how the GSax reign of financial terror would continue by turning out yet another of its henchmen as Treasury Secretary, months in advance. No change was expected by the Jackass by the new Obama Admin. TARP funds continue to be protected without disclosure. Karl, you are a weak cog to a big machine that debunks the fraud and ongoing corruption, as conspiracy and breakdown are the signposts all around the roadways. However, you are a valued cog in a small corner, even if half blind.

http://news.goldseek.com/GoldenJackass/1252000694.php

WATTA MOVE IN GOLD

As I have said many times ...we are going to get a correction in Gold.......BULLSHIT.....I have been so wrong to date....but there is always tomorrow. You should be happy with your position in the miners gg ssri auy slw boom boom kaBOOM....Isn't life great......barf on my silver short hedge ZSL.......but I am still holding .. watch 1000 tomorrow if it breaks over its onward for gold. Things are very messed up here.. the China demand for gold today from the London banksters is big and foretells problems down the road for the banksters......Is this the long awaited parabolic move beginning......dunno. but it is worrisome.

Banksters do not have the physical gold to cover their shorts and paper gold so things can really get hairy here. I am counting on the banksters to maintain the Ponzi awhile longer so pullback on metals comeing (wishful thinking see multiple previous posts)...anyway couple of links provided but not a fear trade on gold today. This is all a titanic struggle between fiat banksters and sovereign banks......fighting the stranglehold of the dollar status.....

http://www.marketwatch.com/story/hong-kong-recalls-gold-reserves-from-london-2009-09-03?link=kiosk

http://www.econlib.org/library/Columns/y2009/Hummeltbills.html


Big move coming in metals......keep informed gang look at all sides.......
http://news.goldseek.com/GoldSeek/1251987803.php

GRIND UM UP DAY

Trendless meandering market this morning ......precious metals up.....market down ...miners moving up......no strength......conclusion .........broken....but then we knew that. So the real question is where are we headed..........trend is down for next couple of months with some real nasty stop shopping......this market is going to be treacherous for both sides of the trade....so as previously stated wait for clear signal to reenter ....play miners on gaps but you better have a position already and don't trade out of it.......chop chop ......thats going to be their strategy...keep your eye on gold.......pulleeeeeeeeze give us a pullback....gl gang

Wednesday, September 2, 2009

TOMORROW IS X FACTOR

Keep your eyes on the ball tomorrow . Gold breaks out tomorrow then over 1000 soon. 1200 in play too.......so ....don't get in front and do not chase. If you have a position like I have suggested sit tight.....The junior miners are your play if you have no position...look at GORO TLR ANV (obtw Soros is butt loaded on ANV over 2 million sh)...This is one fkd up mess ..I am not going to pretend I can tell you where this is headed but things are as rotten as Immred predicted they would become. Its like slowly warming a frog in water.....before ya know it your boiled. This is a slow roast for the market participants and our country after a category 5 storm hit last year.

We are not recovering but they are trying like hell to apply first aid to an open head wound and its not working. Again protect yourself with physical gold. Will we get my long hoped for pull back .....DUNNO.....but I think we are going to know this week.....gl gang...

http://news.silverseek.com/SilverInvestor/1251908465.php

Tuesday, September 1, 2009

HOT MONEY AND HOT WOMEN

What gives with this market ........one minute we are in a bull market......and the next we are sliding towards oblivion.....only one explanation.....we are in P3.........NOT.....Sorry.....Hot money is just like Hot women.....easy to get a lot of it but hard to keep it.....Right now this world is awash in it. If you think that Wells Fargo is in trouble (other than it is insolvent of course) you need to ask what planet you are on.....You are on Romulus you dummy........remember......when your Ponzi scheme collapses you print more money....get serious gang this smells like a set up......bulls trotted out and GS runs and hide..........NO WAY. GET OVER IT. The rumor on the bank today may have merit ........but NO WAY its one of the big boys.....they are going to give all the banks to these scumbags .........COUNT ON IT..........anyway its a lotta fun tonight......but I am not gonna get my panties in a wad......and just be careful....gl gang

http://jessescrossroadscafe.blogspot.com/2009/09/rumours-du-jour.html

NOT BUYING ANY OF IT

Sorry Dano......not gonna buy the P3 pump.......maybe it is just the cynic in me......maybe it is the fact its all too neat and tidy. Maybe its because I don't believe GS is just gonna give up their mandate by O and QE backing them to the end. Maybe with uncle Ben behind the curtain I don't believe that GS will rollover the market into GD 2 with a whimper.....I wonder with monetizing the debt that we are suddenly in P3....Is Dano the maestro with EW..........yup....Is the wave correct ......sure.. Is the call right well we shall see....I would recommend being very careful here.....I believe this will chop a lot of players up.......into shreds.......sit tight ...play gaps for trades and don't get heavy yet..........They are gonna cut ya ta ribbons.....just my opinion.......gl

MACRO CALLS GOLDMAN OUT

Someone isn't buying the pump.....imagine that. What kind of player takes on the king. Well they didn't do too bad last year takin on the punditry. Abby Joseph Cohen was trotted out a couple of weaks ago to put the icing on the cake for the ponzi scheme. Now the reality sets in.

“If we have a recovery at all, it isn’t sustainable,” Kevin Harrington, managing director at Clarium, said in an interview at the firm’s New York offices. “This is more likely a ski-jump recession, with short-term stimulus creating a bump that will ultimately lead to a more precipitous decline later.”

http://www.bloomberg.com/apps/news?pid=20601087&sid=auGWGWlnohNo