Tuesday, June 7, 2011

QE3 CONFIRMED


Richard Fisher on CNBS confirmed that the Fed will continue their rollover of over 900Billion in MBS on their balance sheets. In other words....propping up the Treasuries will continue. Fisher admitted that QE2 has been a failure. That the liquidity created has done NOTHING but stay on the Bank's balance sheets. It's obvious to me that Mr. Fisher did not understand the very purpose of QE 2....it was ALWAYS about the biggest banks balance sheets. The debt holders of these very banks are the owners of the Fed. You can do simple math. The purpose of QE2 was always to butress the balance sheets of these banks. It wasn't that diabolical was it. It seems rather clear their purpose. Restore the balance sheets and make sure they are strong enough to get through the coming cataclysm, that they essentially created. I love it. Really its not that difficult to see is it?

Consolidation is still the game in the market. We are not going to crash. It may feel like torture to you if you are in the Precious Metals trade (as I am) but its more like "enhanced interogation" for those neocons that read this blog. We should experience a little further pain in the PMs if the MACD rolls over on the $HUI then we'll have a nice double bottom in the next week. Stay and Play....the waters fine will be their mantra soon. This is an evil game if your money is vital for your survival. If you NEED your money then this game is NOT for you. This is another trader's year as last year was. Consolidation/Accumulation is designed to make you lose confidence in your trade and that is what they are doing to the miners. Just go back and look at last year.....then look what they did at the end. gl all

42 comments:

  1. should get a nice squeeze today...hehhehe

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  2. FCEL getting marched down as expected...hehehhe....luv um

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  3. I gotta admit I give the fed an A for bouncing the buck giving silver a beating and then putting the dollar right back where it was. I like the miner trade. The world is so short of PM.

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  4. Agree Sean....I smell blooooooood....hope its not mine....hehehehee......looks like the same game plan as last year.

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  5. Speaking of CNAM, at the open a nice scalp!

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  6. kli,

    Some one wanted in at 1.67 for FCEL, buying pressure at that price kicked in.

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  7. baastids.....i thot they might try to fill the gap at 1.47

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  8. http://news.goldseek.com/ClifDroke/1307305449.php

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  9. Ditto.... buy order @ 1.50 looks left in da dust grrrrrrrr. On another note why are you always poking the Neocon's! Don't ya just want an Oscar Mayer Weiner. Hehehehe

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  10. Kli -- I'm long EUO at $17....why is the Euro up on horrendous news from Greece on a bailout that is unlikely to work and which may BK the ECB?

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  11. Tom ....Weiner was an idiot...but if you hang with the under 30 crowd and see the chit they are sending on their phones....holy chit it is raunchy.....my guess in a few years they will look back and wonder what the big deal was.....the biggest deal was he LIED ...shoulda fessed up

    EUO is part of the carry trade and itsa race for last in your currencies. right now they are losing and the dollar is beating them to the bottom. All of this is coordinated. Don't despair the 61.8fib retrace of its last move should be about in......i'll check.....

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  12. market bounced off resistance at 1295....now watch um ram it through today to rape the shorts that reloaded.....hehhehe

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  13. Kli,
    Just having some fun! You ain't kidding the Guy is a hypocritical lying arrogant bastard just like the rest of um... He just got caught! Whats down right scary is these dolts sit at the alter of power yet just look at their JUDGMENT! No moral character what so ever and the level of STUPIDITY is beyond comprehension! I have more respect for Charlie Sheen not that I agree with his life style as short as its going to be but he's not a pretender, just a legend in his own mind!

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  14. Biggest deal to me with Weiner is not related to morals or veracity. It's the stupidity and/or arrogance being displayed. Either you don't realize you probably will get caught or you don't care. Either way, all four aspects seems to be the driving characteristics of politicians these days. Same with DSK...powerful wanna be's playing games.

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  15. Oh - I should add I do have a big problem with lack of morals and liars, just in this particular case, I think the amazing issue is actually doing it not realizing or caring about the consequences.

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  16. Yeah those pesky unintended consequences POKING up are a real b-itch.... heeeeehe

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  17. Tom - Don't let Kli fool you - he makes a neo con look like a flaming liberal. He was on Amazon last night to be first in line to buy Ann Coulter's new book. Hehehehe

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  18. Bet ya he got a autographed copy to boot :)

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  19. Palmer.....uh even though I am from San Francisco dont take this the wrong way....but.......I am loving you today by taking FCEL and CNAM to the woodshed from the gate.......Can i buy ya a drink...Hell its open bar right now!!!!!!!!!!

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  20. if fcel fills the gap then I'll buy him a drink. As far as Weinergate goes....its just reflective of an overall decay in our morals intersecting with new technology. As far as his judgement was concerned.....I think he believed he was invincible......just stupid.

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  21. Kli.....are you surprised that this guy lied to us?? A cropped photo sent across twitter was not him....Come on now..thats almost as bad as Clinton "I did not have sexual relation with that women!"

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  22. its the bigger game that is my interest...my guess is the "Weiner" was a potential source of "tamping down" the MIC...he possessed a unique perspective...his father was jewish his mother italian....his wife...hehehe...well his wife....

    Huma M. Abedin (born 1976) is an American aide to United States Secretary of State Hillary Rodham Clinton[1] who served as traveling chief of staff and "body woman" during Clinton's campaign for the Democratic nomination in the 2008 presidential election.[2][3]

    Abedin, an American of South Asian descent, was born in Kalamazoo, Michigan. Her father was of Indian descent and was an Iranian Studies scholar who died when she was 17 years old, and her Pakistani-born mother is a professor in Saudi Arabia.[1] At the age of two, her family relocated to Jeddah, Saudi Arabia. Abedin returned to the United States to attend George Washington University.

    Huma Abedin began working as an intern for the White House in 1996 and landed an assignment with the First Lady. She currently works for Clinton at the State Department.[4]

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  23. This is the greatest ever....

    http://moneyland.time.com/2011/06/06/homeowner-forecloses-on-bank-of-america-yes-you-heard-that-right/?xid=rss-nation-yahoo

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  24. Looks like they are going to keep driving EUO down to fill the gap & perhaps go all the way to 16.
    I might take a chance there...worked out last time.

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  25. But there are deeper implications to every one of these foreclosure foul-up horror stories we read about, and even those we don’t. The finger-pointing to outside attorneys seems reminiscent of the banks’ excuse for the robo-signing scandal that broke last fall, and just as flimsy: the fact that a bank has lots of foreclosures to process and hires an overworked, underqualified or otherwise not-up-to-the-job professional to do it does not justify the nonchalance with which documents and properties of such gravitas were treated. The similarity didn’t escape Allen, who told CBS News, “this is a symptom of a larger problem.”

    Read more: http://moneyland.time.com/2011/06/06/homeowner-forecloses-on-bank-of-america-yes-you-heard-that-right/#ixzz1OcRcv1Rn

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  26. Ben speaking right before the market closes bears close attention.....probably JUST jawboning BUT

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  27. Ben remaining VERY accomodative....imagine that.

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  28. translated.....We will continue to print money as far as the eye can seeeeeeeee.........

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  29. Ben has NO CHOICE.....NO ONE is going to buy our debt without a Depression now.

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  30. kli & Brian,

    How do you like the close on FCEL, heheeeeeeee!

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  31. Buying in at 1.61...... I like it....

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  32. DAMN Joe you keep that ax pretty sharp....lol...

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  33. kli,

    Huma Abedin is COMPANY and her husband hotdog, the Weiner was warned and he did not listen, heheeeeeee!

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  34. Huma Abedin's background which kli described and where she ended up working means COMPANY. Her idiot husband should have known not to take the bait by the so-called average woman on twitter, heheeeeee!

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  35. Again wasn't watching the close like I didn't watch the open and raised my order to 1.55 from this morning........ double arrrrgggggg

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  36. Joe
    If what you say is true that Oscar Mayer was warned then he is dumber then a bucket of boiled shrimp.....

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  37. I'm on vacation, will be off and on after golfing and while drinking. Will also set up the secure tunnel to my home router so I don't have to deal with my company's VPN being all twitchy.

    niceminivanguy - thanx for posting that blurb on the reversal of fortunes. I heard it yesterday and meant to post it.

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  38. Tom,

    Politicians are really weak in character and most of them have obsessions, in the case of hotdog, the Weiner his weakness was always you know what, to the point that the blood rushing thru his genitalia took away his judgement and came back to hunt him. Some of the stances he was taking was unpopular with the elite and he was warned . You are correct, talk about DUMB.

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  39. Homer,

    Vacation or not, your posting regularly here is a MUST, no excuses. By the way have a nice vacation bud.

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