Wednesday, July 6, 2011

U.S. DOWNGRADED TO JUNK!


Nahh...but it otta be. Everyone else was downgraded to junk status today. Obviously the PTB are wanting to get the process moving or they wouldn't have unleashed their dogs (the ratings agencies) on Portugal. Gold is finally starting to move a little after being flat most of the morning. I guess the fear trade will have some life in it at the opening.

Santelli had a great rant today. It reminded me of the old question if a tree falls in a forest and there is no one there to listen then does is make a noise. He spoke from the heart and it was all solid common sense stuff. SO OF COURSE NO ONE LISTENED. He was frustrated of course. You shouldn't be. This is a ship the size of continent and its NOT gonna turn around. Its headed for the Iceberg and there is NO stopping it. This is the boom bust cycle of SEVERAL lifetimes coming. Maybe the boom bust cycle of ALL time. No avoiding this one. Even the dipchits that have had their heads stuck in the sand and have sucked up the koolaid for years know something is wrong. I remember talking with a friend of mine in the early eighties when Reagan began breaking the bank on the budget and he said then that the debt didn't really matter. I argued and argued.....deaf ears. Watta dumbass....or was he just hearing what he wanted to hear. Either way he betrayed his country.

Still a little under the weather but I'm holding my mining core AG SLW SSRI ANV GFI EGO EXK GPL and several others. ALSO PLSV PHYS EUO YCS. THIS GAME IS JUST STARTING. gl

from Dan Norcini

34 comments:

  1. kli,

    gotta love that EGO, like a phoenix it rose from the ashes. get well soon.

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  2. SQNS and RENN keep on going. Chinese social media internet stocks like RENN and YOKU have been on the run lately due to massive short squeeze. RENN keeps going since it hit low of 6 recently and YOKU since $27 a share has done very well. SQNS has done well since it went down to 12. Money rotation in sectors are important if you are trader.

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  3. I mentioned QIHU, RENN, and YOKU, for those who took advantage, it was $$$$$$$$$$$$.

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  4. Chuck,

    Seems like you did pay attention and had SQNS on your radar when I brought it up while back, it's kicking some serious rear end now, heheeeeeeee!

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  5. GS and the company took SQNS up from 8 to 19, shorted it down to 12 area and since then they are squeezing it back up, let's see if they take out the older highs the next couple of days, heheeeeeeee!

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  6. For experienced traders this yr's market has been one of the best yrs, volatility is great, those who only focus on specific sectors all yr long lose great opportunities. Those who look at all sectors and are good at trading do very well. Market talks to you all the time and talks clearly!

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  7. Learn how to fish for yourself and you will feed well, wait for others to feed you most of the time and in that scenario you become a person with welfare mentality. Opportunities are always there, it requires homework and old-fashioned research to bring it to frution.

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  8. Joe,

    Listening to smart people and reading, I have down pat....

    GTXI...insider just bought 4 million shares...back down from breakout...starting to watch it...short share float is 13% of 24 million float

    what vol. do u see on PozN today?

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  9. Check this out in Marketwatch today:

    http://www.marketwatch.com/story/the-next-worse-financial-crisis-2011-07-06

    Who knows if anyone will listen. Truthfully of course, mainstream America doesn't even know Marketwatch from Home Shopping. But at least these articles are starting to pop up.

    My core of miners (SSRI, ANV, EGO, SLW) and PSLV is finally in the black. I refused to puke them up no matter how sick I was feeling ;). I hear you Rudemood on the EGO. Of all of them, it came the closest to being tossed in the toilet, and now, what a gem.

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  10. http://www.silverhoarders.com/content.php?1217-GOLD-AND-SILVER-TECHNICALS-AND-TRENDZ-Ira-Epstein

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  11. bought pozn..4.33....somethings brewing...10x vol...

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  12. Joe..article on asian social media plays...

    http://www.marketwatch.com/story/future-of-social-media-is-where-it-began-in-asia-2011-07-05?link=MW_home_latest_news

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  13. Joe,

    He's probably distracted by all his cash winnings and the hot number sitting in front of him....

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  14. Chuck,

    Good article on Asian Social Media stocks, I noticed it mentions RENN as well. Big BOYZ shorted RENN from 24 down to 6 and from there the uptrend started again. On POZN, it's short covering today by BOYZ which is why although the volume is healthy, the price is not up much. If price starts picking up along with volume then it's retail short covering and BOYZ pushing it up after they cover.

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  15. Chuck,

    I hope Brian is not distracted, no emotion on making money and also no emotion on losing, only FOCUS and the task at hand!

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  16. joe,

    keep your eye on mobi...china play beaten up big but making move similar to RENN over last week..

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  17. might add FFHL and BORN...
    Fuwei Films and Coca-Cola Bottling sign letter of intent...reason behind FFHL move...

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  18. might add FFHL and BORN....

    should say keep eye on them...not in trade on either..huge moves already..

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  19. mornin all...wilks ....you puthy......hehehhe....C'mon now wilks......you know how the game is played...PUKE UM!!!hehhehhehe.....I confess like a typical retail trader I lightened up on my core a lil.....heheheh

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  20. http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/7/6_Whistleblower_Maguire_-_This_Will_Destroy_Gold_%26_Silver_Shorts.html

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  21. I'm just catching up...distracted by a few things right now that must maintain my attention.

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  22. Homer,

    Hope it's all good in the neighbourhood!

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  23. Hi Joe,

    How can you tell POZN is short covering vs. accumulation? Couldn't high volume but little price movement also be a sign of the latter. What clues allow one to tell the difference

    tx,

    -v

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  24. Victory,

    Because average daily volume is very low on POZN, look at average volume vs today's volume. You need to compare volume today with majority of days. Due to low float BOYZ have no problem taking stocks down using low volume daily which of course all adds up considering weeks and months and if suddenly volume is much higher than usual but price movement remains low then that means they are covering in chunks without allowing the price moves fast. The real answer to your question will come in the next couple of weeks, if price moves slowly upward and volume remains high then you have both covering and accumulating, otherwise it was just portional covering. It takes more than one day sign if it's accumulation.

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  25. POZN also has only one big volume spike, and then volume goes away again.

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  26. Ken,

    Correct, which is why I mentioned follow up on volume is necessary if they are accumulating, otherwise it was portional cover and back to shorting again.

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  27. victory,

    Pozn has been beaten up waiting for judge ruling on generic competition...judge will have a hard time not deciding in favor of company as case stands...should know outcome next 30 days..

    I think the big boys know outcome already...they covered shorts as Joe said and now are going to accumulate...

    look at the earnings for a bio company..

    risk/reward is great right here...set a stop at 4.20...

    also keep your eyes on Rxii..ment'd last week and its up 30% since and has room to run

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  28. last thought on POZN..if you turn chart upside down it looks like head is being built on perfect inverted H&S...needs to move up for that to happen..

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  29. http://247wallst.com/2011/07/06/non-manufacturing-ism-craters/#ixzz1RM4lVOrG

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  30. Joe and Chuck....sry guys havent been posting...sitting on the sidelines re-grouping right now.....looking for the next gem for ya........see ya 2morrow at the craps table..... oh and did I mention COIN ;)

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