Friday, May 6, 2011

JOBS ARE GREAT!

Don't worry the Fed's got your back. Nothing can make a Ponzi more happy than 1 million new Mickey D jobs to boost you economy. Think of it. Don't get me wrong...working at Mickey D is respectable, but its hard to defend how that job creation is positive for the "recovery". Even the moat ardent supporter of the Ponzi is having a hard time spinning the Job's number with a straight face. Of corse most know that the different manipulation tricks are really to play such as the "birth death adjustment" that really skew this number.

This is what I take out of this.....the dollar is still going on an uptrend....at least for awhile.....perhaps multi-month. The beatdown in PMs looks to still be intact and should have enough momentum to push us below 30. My "dip buying has been restrained but even restrained dip buying in this freefall can become painful.

Positions in EUO and DTO have been helpful and EUO should remain a nice hedge.

The EU and the Chinese have stepped back from their strengthening moves which I believe is coordinated and will open the door for the dollar move now. I also believe that will allow the EU to deal with the PIIGS again during the next months. Should give the dollar a further boost. Of course Ben will then use the market turmoil and fear created to institute further monetization. He had to take down the commodity sector first to provide cover for further monetization. That plan is proceeding perfectly.

Unlike some.... this is a VERY welcome and EXPECTED pullback. I refer to Marti Armstrongs recent PDF on this very issue. He felt for us to have a monster move in GOLD during the next few years that it was IMPERITIVE that we not open June with gold OVER 1500. I'm going to look for that article. If someone has it (JD) please put it in the comments. gl

52 comments:

  1. my screen could be wrong but PZG up 8% pre-market

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  2. Need a little more weakness to add to our meager holdings of PZG...

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  3. dollar should hover around this level for couple days..need to check economic calendar and see whats coming up next week..

    unless they push it up monday to catch dip buyers...

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  4. watching silver, looking for them to slam it again. One can wish. no buys here for me.

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  5. perfect day for the ponzi....market up dollar up....economic news good.....all planned ....just a bounce here on PMs my guess lotta damage....a few shorts covering

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  6. kli, how temporary do you see this silver retrace to go. contemplating unloading my SLW to reload at a lower price.

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  7. silver shorts squeeze on....heheheh.....should make for nice bounce .....I'll take a little of my nibbles off the table

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  8. rude......if you want to take off a third or half go for it

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  9. rude......overtrading can get you beat senseless I would not take it all off unless it was profitable trade

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  10. metal sell off over? sure looks like it...

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  11. not buyin it yet.....have a position thats small but enuff

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  12. may do some retesting of the MAs over the next day or two then trend down for another week or two. Just my guess

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  13. dollar is below a 60 day trend line..metals holding up...

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  14. 0p
    BREAKING
    Greece considering abandoning euro: Spiegel Online

    default....

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  15. Thought you were joking hcg...can they even do it? Let me guess, Goldman is cooking something up again for them to them to stand on their own!!! lol

    http://www.spiegel.de/international/europe/0,1518,761201,00.html

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  16. http://www.spiegel.de/international/europe/0,1518,761201,00.html

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  17. If they break free of Euro, imports go up in cost and employment rises.

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  18. they will not default...at least not this weekend...double top secret meeting this weekend.....serious arm breaking and azz kissin......dollar strengthening comin....EUO....

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  19. But YES YES YES.....they will ultimately default...NO choice. Debt will have to be massively restructured......

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  20. austerity was going to be a bitch for them anyways...it will be painful...but they have lots of empty buildings and good weather...so why not default...

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  21. John Mauldin wrote about Greece in his book. I can try to post what he said about Greece this weekend.

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  22. OPTR still looking interesting Sheff added to his position.

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  23. http://finance.yahoo.com/q?s=OXGN

    this one has volume, might be some nickels to make..

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  24. Kli,

    thanks for the advice, i do have a problem with overtrading, you are so correct, patience is the smart move. mr. mkt wants to take ones money, that why its not an easy bussiness. thanks again, kli, i have to look at the big picture, this is not the end of the silver trade, SLW at $36.00 will look like a bargain months from now. peace.

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  25. Kli, Is this the Armstrong report you were referring to?

    http://www.martinarmstrong.org/files/how%20and%20when%2003-01-2011.pdf

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  26. This comment has been removed by the author.

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  27. Reference to gold surpassing $1500 is on Page 6.

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  28. If you copy the link, and paste it into the URL box, you should be able to access it.

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  29. oil starting to tank......cmon baby......

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  30. http://www.ritholtz.com/blog/2011/05/greek-default/

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  31. do I add to my EUO......to be or not to be

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  32. CHUCK....thanks for the oxgn...just sold it....nice scalp....

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  33. 1 cent from bid getting hit at 2.80 for OXGN men'd with yahoo link above...missed 15% in minutes..

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  34. kli,

    glad you made some change...should have raised bid but was stuck in a moment..

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  35. the market cap on oxgn is nice...
    NASDAQ: OXGN Market Cap:$13.2 Million Market Close 04/29/2011at $1.76 PPS

    Oxigene will be presenting the final phase 2/3 (FACT study) data for its flagship drug, ZYBRESTAT, for anaplastic thyroid cancer at ASCO. The low PPS and market cap for the company is surprising for a company whose phase III data many are expecting to be positive. Interim data announced in October 2010, were mostly positive with overall survival improvements and good drug tolerance. A good candidate for buyout and for run up to ASCO, this company may see some surprising gains over the next couple of months. A phase 2 trial for ZEBRESTAT for ovarian cancer was initiated in early April, and enrollment has completed in two other ZEBRESTAT trials for advanced platinum-resistant ovarian cancer and non-small cell lung cancer. Please see associated links for information on each trial. Speculation on the upcoming data presentations could provide investors with a volatile run up to ASCO.

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  36. I took the 30c move but it has NO float is why i played it

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  37. trust your instincts is my number one money making enemy...

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  38. Thought I might get miner buy signal today. Sat on my hands all day. Gotta keep dry powder.

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  39. wait till monday am or buy now for possible further push north..could it run to 10?

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  40. So if the silver margin increases washed out the longs, perhaps next week will wash out some shorts that recently entered?

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  41. if the euro climbed above 1.452 I would feel better about silver...this weekend news re: greece makes it tedious...the euro could go to 138 on h& s target..no doubt lower or higher too :)

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  42. I think gold is the play on out.....silver will be a secondary play for me......I may change..hehhe

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  43. Being "unaware" I bought HL yesterday before the close and unloaded in the AM for a decent scalp. Hehehehe

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  44. Kli,

    I read the armstong article, a great article, but was meant in this paragraph page 4? Phase transition? does that mean gold is signaling a top and will head down and bottem in 2015 and then rally bigtime? is he talking the phase tranistion is signaling the economy is going to crash in the near future? thanks

    "if we see gold blasting to new highs, passing $1500, we are in trouble. This would be a serious developement warning that we are now completing a PHASE TRANSITION that could then lead to a low 2015.75 and a rally thereafter."

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  45. no rude.....we are all good so far.....and armstrong expects us to see a LOT higher...but if we were to get a blow off top with a crashing dollar then all bets are off

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  46. Kli,

    Reading the article, i can see why you are more positive on gold then silver. i found it interesting that gold was the only form of currency after the collapse of rome. copper and silver coins didnt come back for 309 years. very interesting. i am starting to understand why you preach, own physical gold. Thank you.

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  47. rude......marty armstrong is an icon in PMs and investing against the ponzi....he went to prison for it

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  48. kli,

    just did a quick read on armstrong. amazing. imprisoned for 7 years for contempt of court, with no trial. sounds like they wanted to keep him in prison indefineatly with no trial. my god, the bankers could commit fraud and bleed american citizens dry, and all they get is unlimited, tax free, no interest funds, plus supersized bonuses. i dont know much about armstrongs case, but, it does seems strange. a very interesting character. i guess if you piss off the wrong people, you can be sent to the Gulag at a moments notice. evidentally i am not "Aware"

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  49. http://jsmineset.com/2011/05/06/1764-angel-starts-to-shine/

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  50. I'm good for 2 things, blundering into cash at relatively good times and quoting people wiser than me. Here's Bobby Kennedy:

    "Too often we honor swagger and bluster and wielders of force; too often we excuse those who are willing to build their own lives on the shattered dreams of others. Some Americans who preach nonviolence abroad fail to practice it here at home. Some who accuse others of inciting riots have by their own conduct invited them.

    Some look for scapegoats, others look for conspiracies, but this much is clear: violence breeds violence, repression brings retaliation, and only a cleansing of our whole society can remove this sickness from our soul.

    For there is another kind of violence, slower but just as deadly destructive as the shot or the bomb in the night. This is the violence of institutions; indifference and inaction and slow decay. This is the violence that afflicts the poor, that poisons relations between men because their skin has different colors. This is the slow destruction of a child by hunger and schools without books and homes without heat in the winter.

    This is the breaking of a man's spirit by denying him the chance to stand as a father and as a man among other men. And this too afflicts us all."

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