Thursday, May 17, 2012

COLLAPSE!

The face of recovery. Not such a nice poster for green shoots is it? You know of course this is how a "recovery" looks according to CNBS and its army of pumpers. Noise is noise......on both sides during this "recovery". The endless printing machine still has plenty of power to maintain the ultimate financial juggernaut in the face of an obvious collapse in CONfidence. The Eurozone can limp along much further than many can imagine. Ben can snap his finger and PRESTO we have an overnite infusion of  2 Trillion in digital cocaine. Its magic.........

One thing I want to remind you is not to get too caught up in the day to day trading of the miners at this level. You should be accumulating and holdin here and avoiding the daily gyrations. Some of you are savvy enough to play the options but that is entering into the devil's cauldron for most of you. If you want to lose a finger go ahead and try it, but we are in one helluva dangerous market now so enter those options at your own risk.

Next on the agenda is a reminder on bullion. Also the advice is to accumulate on all pullbacks. When you hear that PIMCO is buying gold heavy and Rogers and Soros again and Einhorn and Bass are taking possession then you know what some very heavy hitters think of the economic situation AND what they think of gold as a "barbaric relic".

Tune in and tune out. I apologize for that one. Something is going to have to happen this weekend. Europe is breaking apart. Maybe they can hold it together with some stealth QE for a few more weeks until the FOMC in June but the bank runs are on in Spain and Italy too, so I wouldn't be surprised to see an announcement on Sunday or maybe even after the market closes Friday. Whatever it is, it will be temporizing to get through to June. Forget the noise and accumulate. Plan and prepare. Tighten up your network of friends and don't leverage at this stage of the game




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53 comments:

  1. http://finance.yahoo.com/news/worlds-first-approved-stem-cell-203600216.html

    this is huge......

    short ratio 40......this is going to be wild....I imagine GS, Baker Bros. and other mm's are going to try to buy this at todays price...i

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  2. KLI: Just about every one of your charts show undervalue with a storm looming.

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  3. they may reach oversold on the monthlies

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  4. Kli,
    Do you have any thoughts on what Sis posted yesterday

    "InTheMoneyStocks says this is bounce, then comes even bigger flush to about 1320 on spot. I will keep you posted on their targets for the interim top..."


    Know this might be the wrong way to go but I'm looking to and trying to time the best price on my last phys purchase...... My account is suffering from the old "myfunzarelow" syndrome! So I want to be prudent for my last move.

    Tank's

    Wish I had some powder left for OSIR news looks good or for RIC under five...... gggggrrrrrr

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    1. yes tom......its certainly fitting for a monthly oversold that would be a great and much needed flushing of the gold trade. but I'm staying put long and will just have to take the pain.....now if we get a nice rise next week i will raise a little cash .......but not a lot

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  5. Here's a question, Who is Dumb or Dumber?

    Tiny Tim or Us, We the Peep's......

    http://www.zerohedge.com/news/geithner-comes-clean-i-dont-understand-it


    It's interviews like this that can make your inner peace,fall to pieces! hehehe

    He is one certifiable idiot!!!

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  6. Pulled this from Harvey Organs blog,

    Talk about some dry brush to get the fire's roaring this summer over in Euroland......

    "Consider these stats as it is not just Spain and Greece that have massive youth unemployment: (special thanks to Robert H for sending this down to us)




    ( the BROAD rise in Youth Unemployment Rates, across the EU (this March, versus March of last year):

    --- Bulgaria ... 32.8% ... up from 26.7% ....up 6.1%--- Portugal ... 36.1% ... up from 27.6% ...up 8.5%--- Denmark ... 15.1% ... up from 13.7%
    --- Ireland ... 30.3% ... up from 28.7%
    --- Cyprus ... 28.8% ... up from 18.8% ....up 10%--- Hungary ... 28.8% ... up from 25.4%
    --- Netherlands ... 9.3% ... up from 6.9%
    --- Poland ... 26.7% ... up from 25.7%
    --- Slovenia ... 16.5% ... up from 16.3%

    The Summer of 2012 could easily become the Summer of Social Dissent in the EU..." these are shocking numbers as it tells volumes about the real State of the economy."


    Those numbers are a mess.....

    GL all

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  7. these numbers are the fuel for massive riots

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  8. Both Phil Davis & the Keystone Speculator wrote about Facebook with both writing negative comments. Phil was especially brutal believing that people waste their time on Facebook and that leads to decreased productivity. He is hoping however that FB will soar to unbelievable heights, so that he can short it via Puts once options become available.

    I am hoping that we do get a relief rally, so I can eventually put my RWM hedge back on.

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  9. confirmed that there is an exit plan for greece being planned with an official denial there is a plan

    http://www.guardian.co.uk/business/2012/may/18/eurozone-crisis-stock-markets-greece-spain

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  10. this facebook hype wreaks of desperation......can honestly say I've never seen anything quite so bizarre on CNBS and it only points to how pathetic things have become economically that facebook has to get this kind of a plug

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    1. Just walked by the NASDAQ on the way to work, There are TV cameras from at least 30 plus TV networks all over the world. It is complete mayhem in Times Square....all for the 11 am opening of Facebook stock trading. It is crazy a company that can barely make money gets this kind of press. Truly pathetic!

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    2. Rudy you really do work in the swamp..... hehehehe! Been there done that! Was a much better place in the eighties, dont go in anymore, too much like a police state for me run by my favorite Emperor, Mayor Bloomberg! More power to ya!

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    3. Tom, its a complete police state......four cops on every corner! I am relatively young so it has not gotten to me yet......but its getting there. Met my wife here and we had our son here, NYC has been good to me! But if I have to go, I am GONE!

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    4. OK. I'll admit it. I fired up level 2 quotes just for Facebook. I want to observe the retail frenzy first hand.

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    5. i will be in town in the near future to spend several days with the cream of the crop of the bankers.......it should be quite a meeting.......cant say more but would love to see both of you in person but probably would put us on the "list".........have fun...and you are right rudy....manhattan is a complete police state

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    6. I was just looking at the numbers on Facebook...

      Deal Value $15.2B
      Revenue $1.1B
      Net Income $205.0M

      A lot of hype for a company with such low revenue.

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    7. yes but think of the potential........hehehehehehehehehehehehehehehee

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  11. Only winners on this will be the guys that got shares beforehand and dump at the open ala our friend at Goldman :) 200 billion market cap? Get outta here!

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  12. Kli, I agree with you comments. There IS bank runs in Europe. BANK RUNS. this can't be good. Dimon got Mike Tysoned and got the air knocked out of him. This is not good.

    Look for big PM moves. PM's know sumthin's up.

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    Replies
    1. sheeps they will have to intervene very soon......i just think they want to delay until the June FOMC but a surprise move is what I think we will get......it could be big too

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  13. I apologize if anyone took OSIR trade...I thought $6 for sure...my bad and I will back off pumps..

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    1. hehehhehehe.....chuck quit worrying about it....ANYTHING that gets us off of facebook is GREAT!!!!! we are all big boyz and girlz so you pump away my friend

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  14. I loaded the book on FB in my Scottrade account.

    Bid/Size: 4,300.00/5
    Ask/Size: 1.00/25305
    Volume: 0
    52 week high: 0.00
    52 week low: 0.00
    as of 11:26 AM ET 5/18/2012

    LOL. I guess one of the flash trading computers run by the cabal needs to be re-calibrated.

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  15. What a pump and dump on Facebook. Opened at $42, now at $38.50

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  16. Looks like Facebook is struggling.
    Maybe there is a loss of confidence??

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  17. Hey folks, take care of yourselves..I need to take a break from trading, ideas and such as my mojo is history....I wish you all good luck in your trades and life in general..I hope I didn't get any of you trapped in a trade by mentioning something about a symbol...Your a great group of people...but I must reassess my logicv....cheers and see you down the road...

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    Replies
    1. Go easy on yourself, only we as individuals get to pick our winners and losers! Best of luck in finding your Mojo.....

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    2. Hey HCG, it's ok take a break, it'll do the soul well. I left the casino for a year and a half until I started playing again this year. Take care of yourself while you're gone.

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    3. Enjoy the break, I think we all have to take them from time to time. Don't worry, like the others said we're adults and we have to make our own decisions so don't worry about us and trades you might have suggested. Take care!

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    4. hope you continue to comment but understand completely in the BEAR of all bears. Make no mistake this thing is over

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  18. Nearly a billion dollars of resistance at the $38 level on FB.

    http://www.businessinsider.com/this-is-why-facebook-isnt-falling-below-38share-2012-5

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  19. Thanks for the Chris Hedges video...more proof that Dems=Repubs. No difference except in a few instances such as Ron Paul.

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  20. Honest-GL to you and I hope you'll stop by. Looks like they're doing their best to keep it under $1600.

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  21. Credit Guy. Do not be a stranger. E mail any time. I've taken my share of breaks and I know how it feels to need one. Go stare at some waves, check out some tail, tacos and beer. You know it.

    ---sheeps.

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  22. Democrats Republicans are nothing more than the obverse and reverse of the same bad penny........

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  23. It is always good to vet your trades and backcast so you can eliminate the emotional element.

    That being said the current environment is poison with misleading technicals to instill a false sense of confidence while they play the muppets in any sector that has liquidity.

    FB got the pop to let most of those who wanted to cash out get out, as was probably promised by the underwriters. Now whoever is holding the shares gets to swim with the sharks.

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  24. I was just doing some charting and saw something a bit amusing. I layered the 1-day GS and JPM charts on top of each other.

    Check out how precisely the computers sync up toward the end up the day.

    http://i.imgur.com/QQJ2h.png

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  25. http://www.zerohedge.com/news/eur-soars-no-news-banco-santander-uk-says-30-visiting-customers-pulled-their-deposits-today

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  26. http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/5/18_Eric_Sprott_-_Governments_Frightened_of_Panic_Liquidation_Event.html

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  27. I'm watching level 2's on Facebook. It's about to break through the mother of all resistance levels.

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    Replies
    1. Epic EOD dumpage: http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2012/05-2/20120518_eod2.png

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  28. Today was a humbling day. Looks like it's back to the drawing board.
    I really thought the pump job for Facebook was going to lift the markets. Boy,...what a performance when you look at the chart that Jay just posted. Makes you wonder what Monday will bring.

    Honest, take a break and please come back. Many of us took a beating today.

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  29. Look at vxo...some scalping of tvix is possible if this continues...some others I know play uvxy. Can't believe Mon. will be green. Have a great week-end all.

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  30. some well heeled wall street friends flipped their shares right at the opening ticks.....hehehhehee.........don't know what they gave but I'm sure it was a very tidy flip

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    1. Actually, this was the easiest play in the last 10 years. Just put a limit at $38. Catch the morning firewall and sell at anything over $38

      If I wasn't so busy at work, I would have cashed in on the easy money.

      Then again, I've seen other "sure things" that didn't end up "sure" Such as the 08/09 crisis.

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  31. http://www.rt.com/news/cogress-us-war-iran-573/

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  32. http://news.goldseek.com/GoldSeek/1337348271.php

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  33. http://www.zerohedge.com/contributed/2012-20-19/rise-nationalism-will-end-euro-years-end

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  34. Not well-heeled, but friend who spent the week in Boston, NY & Ct. with hedge fund/mutual fund mgrs. who are all bullish gold. Of course, some of the funds can only be long hehehe.

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  35. After watching the Judge and Chris Hedges on the NDAA ruling it really make me sick to think if it were not for the Brass of a Federal Judge this insanity would be a Law, not that the LAW means anything to these idiots. These idiots have been so corrupted that they can’t, won’t or do not care to see what they are doing…….. Sickening just plain sickening!

    They are doing by treaty what they can’t push through legislatively, not only are they corrupt they are sneaky bastards as well;

    http://www.tpp2012.com/

    http://www.welbornfreedomwatch.org/2012/05/law-of-sea-treaty-lost-3894-dick-morris.html

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