Friday, July 29, 2011

YOU GOTTA BE KIDDIN' ME


No not really.....as expected the Kabuki theater is playing out to the bitter end. The drama is killin' me. SHOCKING I TELL YOU!! Sorry...not really. Its funny... CNBS as predicted is an unabashed cheerleader for the debt ceiling increase. Their reporters slapping every "tea party" congressman for their "obstruction". I'm not going to belabor the pros and cons of either "side" except to say that CNBS should be ashamed of their unabashed biased "reporting". If it weren't so embematic of what is behind the decline of our empire...er...country then it would be comical.

Today changes none of my previous several days posts. Just keep your eye on the ball. this is manipulated panic to obtain several objectives. Notice how the disastrous GDP numbers have been lost in all the debt extension noise. Even though the GDP number was distrous its actually WORSE. Things are deteriorating again and the Kabuki theater makes our peeps believe their is a two way battle going on that is fighting for their interest. YOU REALLY DO believe it don't you. Admit it. You think that your side is really fighting for you in D.C. don't ya???

Watch your favs here. I actually bought some XLF today and added a few miners. Miners aren't even near oversold yet so be VERY careful buying them. I still have PLENTY of cash in case they drag them to the bottom of the BB's and stochs. On the run today and sorry for the late post. Seems like interest is waning too......so gl

PS......GDP of 1.3 now guarantees QE 3........gl

LISTEN TO THE BELOW VID.....

20 comments:

  1. Interest not waning, my friend.

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  2. Real reason KLI was late today: He had a secret 8 o'clock tee time this morning. :)

    Gold is going crazy today. I still doubt we see a default. This is just theater. Both parties know that a default would hurt the Ponzi. They would shoot their own children before ending this game.

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  3. KLI: Any chance that QE3 will backfire? I was at the grocery store the other day and food prices were outrageous. Would $10 a pound ground beef cause people to eat rice? Would $6 a gallon gas cause people to stop driving?

    There has to be a "breaking point" somewhere in which QE's do more damage than good.

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  4. Kli,

    XLF? come on, our leaders are about to save the world from financial ruin, and the XLF is all you got, yee of little faith, dont you want to atleast take a ride on the FAS train? haha

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  5. thnx allen....QE3 will backfire just like QE2 did with essential prices....its going to light a fire on more than just equities prices. ALSO lost in the noise today was the REVISION of the first quarter GDP FAUX NUMBER!!!! The official announcement will come out that we reentered recession 5 months ago.....QE 3 will and MUST be announced to keep the can kicking.......and rude NO WAY I ride the triple ass kicker......

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  6. Thanks for the vid, he's clear and to the point

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  7. Uh oh - not waning..not waning. Post people post!! (This from the guy that offers so very little - lol)

    Re prices Jay - My wife made the same complaint, I pointed out they don't count food or energy in the core CPI so all is fine. Just stop eating, heating and traveling to work and you'll be okay.

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  8. SSRI looks like 26 is next accumulation point for me..........hmmmmmmmmmmm

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  9. missed a buy on slw today......next buy 34.55 maybe.....ya neva know...if it happens it will be in less than two days

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  10. homer: It's probably been years if not decades since Ben has stepped foot in a grocery store.

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  11. No waning of interest here either Kli, still reading daily. Just nothing of interest to report that you haven't covered. I appreciate your time and insight as always.

    The only thought I had recently was that summer has historically been the doldrums for precious metals for many years, and we are not seeing that at all. It leads me to believe that it may map itself as "the doldrums" in hindsight of a huge move through the third and fourth quarter and into 2012. As you have hinted at of course ;).

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  12. Update of the Russell 2000 (^RUT):
    Took quite a dip to 783.17 this am, but then quickly recovered and now trading above the 795 line (Presently 798.10). Hopefully it will close above 795.
    Phil Davis commented on the terrible GDP numbers (Manipulated??) and speculated this may allow our politicians (especially the Republicans) to accept less drastic budget cuts. Afterall, severe budget cuts will hurt the economy.
    Also, since QE3 is likely coming, Phil suggested buying silver.

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  13. I think I might get some more PSLV, PHYS, not sure about beefing up the miners. Casino seems a little shaky right now and I don't watch the markets every day.

    Please keep up the good work Kli though that's easy to say. Maybe you don't need to be so AWESOME every day of the week with material!!! Just crack open the blog with a "have at it" and post these great posts and links once in a while...

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  14. thnx homer.....wish it were a more dynamic situation but it is what it is.......just trying to get in position with the boyz

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  15. Wilks hope you are stayin cool.......might wanna shop a little EXK here or just see if it hits my bottom BB/buy at 8.50.......watch 9.20 monday for a trade

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  16. Hi Kli

    My interest is not waning either Kli. I read you everyday but not being much of a trader I don't have much to contribute. But the big picture has become much clearer since I started reading your blog.
    Thanks
    Tom

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  17. Kli, I begin every morning by reading your rants...as a matter of fact when I didn't see a new post this am I was a bit concerned about you. I said to myself "where is that bastaad!?" haha! Please keep it up, you've removed the wool 'they' pulled over our eyes.

    I haven't been trading much either, mostly in cash. Perhaps if we see a major drop on Monday and/or Tuesday, I'll jump into some oil/equities. These scammers are bound to pass something that'll push the market higher by mid-week.

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  18. Kli - you are never dull.

    As you know I have my own thing, so I try not to insert too much of my opinion here as I feel it would be an intrusion. Seems we got more volatility today as I said I expected last evening.

    Keep up the good work.

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  19. I'm with ya on the miners Kli, not adding to my core until this debt theater resolves. If they reach some kind of a can-kick deal til 2013 the default speculators will flee the trade.

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  20. You Know my interest hasn't waned...just sittin' this out right now. Keep it up, we depend on you. Great video, I'd never seen him b/4. Where's his co? Sounds like it could be Chicago near the BOT or MERC. Gonna be away, do not take that to me I am waning! Thinking of buying some physical when they get the price down after the Miracle on Pennsylvania Ave. Yes, Jackson Hole cooking up something.

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