Friday, April 9, 2010

LIQUIDITY GALORE update III

The liquidity game looks strong this morning with most overseas markets ripping. Print those greenbacks......its all good. Joes calls should be strong today. My miners should all be smiling. Oh well....guess the game hasn't changed.........yet. For those of you like me out there that say watch out they will change just when you think they won't.....then think again here. The employment numbers remain terrible...and that is the essence of this entire facade.....to restart an economy with CONfidence. That CONfidence is the markets performance as their starting point. They will push this to the maximum. Will there be a few fakeouts like "fiscal discipline" lies......of course. I fully expect some nominal efforts that will pause us but that is all nominal. At least for the remainder of this year until prices of essential goods begin to crush us. So don't forget the punch bowl is still there.

Gold hits 3-month high on dollar dip, haven flows
Jan Harvey
LONDON
Fri Apr 9, 2010 7:33am EDTLONDON (Reuters) - Gold rose to three-month highs in Europe on Friday as concern over the fiscal outlook for peripheral euro zone economies boosted safe haven flows into the precious metal, with a rebound in the euro also lifting prices.

Holdings of the world's largest gold-backed exchange-traded fund, New York's SPDR Gold Trust, rose nearly 10 tonnes to a record 1,140.433 tonnes on Thursday, its biggest one-day rise since September.

Spot gold peaked at $1,157.76 and was bid at $1,156.85 an ounce at 1056 GMT, against $1,150.15 late in New York on Thursday.

"The market is overall little bit disappointed with all the problems with Greece," said Afshin Nabavi, head of trading at MKS Finance in Geneva. "A lot of people are turning to commodities as a safe haven.

"We've got a lot of potential still to come in gold," he added. With the metal's break of resistance at $1,155 an ounce, he said, "the path to $1,200 will be open."

U.S. gold futures for June delivery on the COMEX division of the New York Mercantile Exchange rose $5.20 to $1,158.10 an ounce.

Spot gold prices peaked at $1,226.10 an ounce in December amid talk of fresh interest in the metal from central banks. It has since been buoyed by persistent concerns over the fiscal health of debt-laden Greece and other smaller euro zone economies such as Portugal, Italy and Ireland.

This has helped the metal shrug off overall strength in the dollar, which has risen more than 6 percent versus the euro so far this year. Strength in the U.S. currency usually weighs on gold, which is often bought as an alternative asset.

update I.... Think that someone doesn't trust the ponzi fiat.hehee

http://news.silverseek.com/SilverSeek/1270840329.php

update II....High priest immred is nice summary

hehehheh,

Central Banks to busy with printing fiat to surpress gold at the moment, plus higher prices means slower drain on the physical by the BRIC nations, usual Indian wedding season coming up, diversify out of neo-icelandic euros. Wouldn't worry if you were accumulating physical maybe even consider silver on a strong pullback, pm miners may be seeing a little strain.

Continued Strong and growing demand in cars and infrastructure projects in China will continue the desire for raw base metals. CNAM should doe well later, unfortunately short term traders could see more basing or capitulation early next week if there are any big sellers left. Noticed some of the bashers on the CNAM board are waiting for 6 or a close of the gap to massively accumulate or cover, with almost universal sentiment of longs accumulating more in the low 7s. With MMs in control, this will probably be very messy and brutal. Just don't play any leveraged positions on CNAM, for that matter don't play any leveraged positions or 2x-3x ETFs if you can't wait out the stop shopping.

As for the S&P technicals looking extended and ready for a pullback, so we will probably break 1200 on the S&P next week without raising a sweat.

Took a stroll over to Daneric's site, seems a lot less Prechter kool-aid, but guessing a specific single P2 target right now is still a fools errand. My pure foolish out of my butt guess is P2 will be a very long rolling distribution with multiple high volume spikes lasting 6-12 months through a period of stagflation of essentials like energy, metals, and food plus growing hidden unemployment in Western nations, mainly Ireland, Greece, Spain, US and England.

Just saw a beautiful mansion in a crappy neighborhood get another 20% listing haircut this week after being listed for about 4 years now.

updateIII....absolutely devastating

http://www.zerohedge.com/article/bank-international-settlements-sees-us-debtgdp-over-400-2040

21 comments:

  1. SWC explodes outta da gate.......sounds like a derby winner

    ReplyDelete
  2. All,

    I have other engagements today and won't be around much, have a nice week-end and talk to you all next week.

    Joe

    ReplyDelete
  3. Have a great w/e Joe...
    bcbk

    ReplyDelete
  4. I think the Greece story may be gold story next week......its got it roiled today ....no one knows which way to go....look at 2 day on gdx..

    ReplyDelete
  5. oh well guess that 1150 on gold is now support...have fun....made my trades....added some slw sold some ego......let the core ride here........

    ReplyDelete
  6. Always have to be mindful of the cabal. They can strike at any moment.

    Gold support may be $1,150...until it's not.

    -C

    ReplyDelete
  7. C ...gold is a nemesis to the Fed and the fiat...so yes expect them to fight its rise to nth degree. Always be cautious with this until it truly breaks out....has it here??? time will tell.

    ReplyDelete
  8. Agreed. My gut says they still have enough firepower to drive the price down if they want to. It doesn't seem that the mad rush to buy has begun in earnest although it surely must get expensive to keep the price suppressed so maybe they let the price creep up and save some ammo for another day.

    Is it me but whenever Zerohedge is down, I become suspicious of foul play.

    -C

    ReplyDelete
  9. Nice performance for GLD and associates today, hopefully some people held or picked up some positions early for a nice ride today. CNAM also red today per prediction. Looks good overall, the SPX premise is still valid, so expect more of the same barring some extraneous event (Greece or other). Some choppiness but good trend trading is in play with the right ponies and some sector diversity to spread the risk. Have a good weekend. - Analyze.

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  10. Yes today is bullish for gold analyze but wtfks....anyway C ...at some point the cabal will forfeit some position in the gold market as relentless physical buying takes its toll on their shorts. It can become very dangerous for them if any large demand of physical delivery is made on them. It could turn into a "run on the bank" at the COMEX....stay tuned

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  11. hehehheh,

    Central Banks to busy with printing fiat to surpress gold at the moment, plus higher prices means slower drain on the physical by the BRIC nations, usual Indian wedding season coming up, diversify out of neo-icelandic euros. Wouldn't worry if you were accumulating physical maybe even consider silver on a strong pullback, pm miners may be seeing a little strain.

    Continued Strong and growing demand in cars and infrastructure projects in China will continue the desire for raw base metals. CNAM should doe well later, unfortunately short term traders could see more basing or capitulation early next week if there are any big sellers left. Noticed some of the bashers on the CNAM board are waiting for 6 or a close of the gap to massively accumulate or cover, with almost universal sentiment of longs accumulating more in the low 7s. With MMs in control, this will probably be very messy and brutal. Just don't play any leveraged positions on CNAM, for that matter don't play any leveraged positions or 2x-3x ETFs if you can't wait out the stop shopping.

    As for the S&P technicals looking extended and ready for a pullback, so we will probably break 1200 on the S&P next week without raising a sweat.

    Took a stroll over to Daneric's site, seems a lot less Prechter kool-aid, but guessing a specific single P2 target right now is still a fools errand. My pure foolish out of my butt guess is P2 will be a very long rolling distribution with multiple high volume spikes lasting 6-12 months through a period of stagflation of essentials like energy, metals, and food plus growing hidden unemployment in Western nations, mainly Ireland, Greece, Spain, US and England.

    Just saw a beautiful mansion in a crappy neighborhood get another 20% listing haircut this week after being listed for about 4 years now.

    ReplyDelete
  12. Anyone in the mood to grow pot and drive around drunk selling it, Jesse has just the place for you:

    http://jessescrossroadscafe.blogspot.com/2010/04/ohio-judge-tells-residents-to-arm.html

    ReplyDelete
  13. leave it to jesse to find that one.......hehe...ironically it is actually happening all over......and will get worse

    ReplyDelete
  14. I love his second pic from that article too, made me laugh.

    Jesse's blog is probably the scariest blog I know geoeconomically. His lack of alarmism makes these alarming things even more alarming. Like the fact that we're not scared anymore is scarier than the things we should be scared of.

    ReplyDelete
  15. I mean the enemy is just a bunch of jerks in suits, they wouldn't be so scary if we were smart enough as a people to consider them a threat.

    ReplyDelete
  16. No, Satan is the enemy. What occurs throughout life is a just a reflection of the spiritual world, like Paul said, for we battle not against flesh and blood, but against principalities and powers in high places.
    Satan is a coward and a liar from the beginning.

    ReplyDelete
  17. If you doubt he exists, think of life and how we accept Death as a normal function of life. He is an angel too. But he is not a liar, so we see him for what he is. 666 is alive today, they even have an empty seat ready for him in the EU. He is in his early twenties, the structure is being put in place to have him take power but he is too young yet to assume it. It is what we refer to as the ponzi, cabal, NWO, all the same thing.

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  18. He needs to be based out of Europe with Israeli ties and an Egypt/North Africa lineage to align with scripture, but there is a man out of North America that is set up against him, he specifically is the reason for the verse out of Daniel, "for news out of the east shall trouble him".

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  19. I think the problem isn't whatever we're really fighting, it's that we're really not fighting anymore. Comfort, lies, and comfortable lies have effectively staunched all public outrage in the west. No one here will riot until their stomachs are empty, and that gives the powers that be a lot of room to inflict more damage.

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  20. I agree, great point.

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  21. Your views on this topic are really interesting and give a clear cut view. Thanks for sharing the knowledge.

    ReplyDelete