Wednesday, March 21, 2012

ITS ALL ABOUT THIS

Make no mistake this game is far from over. High stakes poker with a pocket full of jokers is no way to run the world, but that is the game. When you throw the kitchen sink into the pot and you still only get a stare from the table you know you have a big problem and that is exactly where Ben is. Today's charade with Timmy was comical to watch. Having been in similar bluffs in my life I sympathized with Ben's painful dilemma in front of Congress today. It was truly difficult for me to listen to the Abbott and Costello show, knowing that every time Timmy spoke Ben wanted to crawl under his chair and stab himself in the eye to lessen the pain of listening to Timmy. Don't get me wrong, Ben isn't the greatest Fed spokesman in chief that I ever watched but contrasted with Timmy his personae is in rock star territory.

There was one camera shot when Timmy started to speak that Ben actually turned his head and appeared to be staring at the floor in complete disbelief that anyone could be the Secretary of the Treasure and that inept at the game of Bullshit. Ben knows very well that a big part of his job is to project CONfidence and if that fails he has nothing right now. Here he was with Tiny Tim mumbling and stumbling in a stacatto style that was finger nails on a chalk board to anyone actually listening to the mind numbing testimony today. It was so pathetic that several of the congressmen and women actually interrupted Timmy after just a couple of sentences of his answers and dismissively turned to Bernanke for clarification or another question was delivered to stop Timmy's confusing answers. It is very apparent NO ONE in D.C. can stand Timmy. Imagine other countries dealing with Timmy's power moves. They must have a hard time disguising their contempt.

Ben and Hank were a sad team back in the meltdown but Ben has improved a little. Timmy must have some purpose but it is not visible to this eye. Anyway the gist of today's action was clear. "We're in deep shit and its getting better." Maybe the public bought that line but I have noticed a number of metrics that say they aren't. This is end o days stuff and you are in historic times that I had hoped I would never see in this country, but here we are. If anyone has seen the movie Havana then you know how I feel playing in this casino. We are going to end the same way and its only a matter of when. This is still accumulation on the miners. My cash is low right now and I am still holding off for the finally plunge if it comes. Many charts appear to be in a bottoming process so I guess we find out within the next few weeks if I am right.....gl all









18 comments:

  1. http://www.businessinsider.com/art-cashin-china-wen-jiabao-bo-xilai-2012-3

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  2. Great post Kli!

    Phil Davis mentioned the mania of the "dot com boom" in his post today. He cited the valuations of stocks such as Apple, Netflix, & Priceline all of which are up 48% or more this year.

    Keystone continues to warn that a selloff is coming. However, they have been posting that for several weeks now.

    I have noticed a lot of bullishness in the news lately. Are the dot com mania days returning?? I think so.

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  3. Kli:

    At what level would you go long GDW?

    I am long EUO...do you expect it to pop above $20?

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  4. Bought KGC today. Also bought GENE and a little XOMA, and some IO. Missed the GALE train. Congrats on that one! Good luck everyone.

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  5. GDW looks like a total crapshoot but then who knows.......if anyone is waiting to buy miners then they may get a better entry point but now is the time to accumulate......

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  6. Thx for view on GDX. Here's more, fyi:

    http://www.etftrends.com/2012/03/gold-miner-etf-falls-to-52-week-low/

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  7. Take a look at zgnx. Got a teensy bit of bidu, so far so good. Great commentary as always and the charts, the charts!

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  8. Just viewed the video, what a weasel! And a liar! He knows but he can't have it "on the record". Remember $1T =$1,000 Billion!!!! No one can wrap his/her mind around that number. So $20T=$20,000 Billion and as we know, that's not nearly enough. How did we let this happen?

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  9. weasle..hehehhehee good description.....it really speaks volumes of just how sad the PTB are when that is the best shill they can give the sheep

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  10. Now which one was the weasel?

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  11. For all those that needed confirmation that the stock market is 100% rigged...

    Just read this...

    http://www.zerohedge.com/news/skynet-now-cannibailizing-itself-bats-ipo-flash-crashes

    Which happened just minutes after the Apple flash crash...


    http://blogs.wsj.com/marketbeat/2012/03/23/uh-oh-apple-shares-halted-single-stock-circuit-breaker-triggered/?mod=e2tw

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  12. yes jay have been watching this closely.....they will most likely patch this up but its very dangerous right here for the casino

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  13. Looks like the cabal wanted to send the little guys a message:

    http://news.investors.com/article/605380/201203231341/bats-shares-halted-after-snafu.htm?ven=yahoocp,yahoo

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  14. This might be the shortest IPO in history...

    "BATS Pulls IPO After Trading Glitches"

    http://tinyurl.com/7qgslkk

    What's your opinion KLI?

    I think someone with a lot of power wanted to cause a scene. Mistakes like this don't just happen randomly.

    I'm really starting to think that our whole system is rigged and free market capitalism is dead.

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  15. BTW... Can you just imagine the scene in the BATS boardroom today? I imagine that some new cuss words were invented on the fly :)

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  16. ok, I'm really spamming this blog today... but I can't resist, this is just too funny.....

    Bats: Help wanted, ‘experience in the financial markets is a plus’
    March 23, 2012, 5:05 PM

    Bats Trading is currently advertising for software engineers.

    The company withdrew its IPO Friday after technical glitches killed its stock BATS 0.00% price and (briefly) Apple’s AAPL +0.03% .

    According to the company’s web site, several positions are available including an Investor Relations Specialist. Given Friday’s events, however, that one seems unlikely to be filled for a while.

    The company is also looking for a regulatory analyst, a surveillance specialist and a software engineer.

    For that job:

    “Priority will be given to resumes that arrive with information detailing real-time and network development in C++.”

    In addition, “Experience developing industrial strength client/server applications and experience in the financial markets is a plus.”

    -Tom Bemis

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  17. Jay,

    Nice work today, at least from my vantage point.

    however, your just noticing;

    "I'm really starting to think that our whole system is rigged and free market capitalism is dead."


    hehehehe, better late than never!!!


    Welcome to the Matrix.........


    http://www.youtube.com/watch?v=a6Ul_mo9I28


    It's worth the 7 minutes.......

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  18. Its all been rigged for many decades...its just more out in the open now thanks to the net if you are willing to read.....if you wish you can go back and look at some of the historical accounts a hundred years ago in the market.....heehhehehee....it was and absolute cabal then too......actually the same cabal......just an earlier generation....

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