Monday, June 11, 2012

CHOP SHOP

If we are in a holding pattern for the PTB to stretch out the game, then we should see some overall sideways action this week. Look for the prop desks to squeeze some shorts as the sentiment is decidedly pessimistic in the general equity market. Note today how they ramped the futures then gapped up and crapped all over the newbie longs that bought the bailout short squeeze faux news story this AM. Prop desks get to make money too in a Zombie market.  More importantly they were able to deftly handle the paper gold moves today and perform a nice chop trade while maintaining paper gold in a nice, tight range maintaining the illusion it is NOT a safety trade. They're losing bullion everyday at these prices and it is becoming increasingly obvious there is a multitude of physical buyers on dips. They will not continue to give away their bullion at this level indefinitely. Make no mistake the cartel has been at this game for hundreds of years and made their bones in the ancient gold trade. There is a reason that central banks are buying gold. Do not listen to what is said by the MSM and the cartel's mouthpeices that CNBS trots out......just note what the central banks are now buying.......gold. They don't buy gold because it is an "ancient relic". Enough dead horse beating, you get the drift. enjoy the game and gl.



33 comments:

  1. Price of silver popped up.
    Guess they will have to slap that back down.

    ReplyDelete
  2. Can you feel the love?

    http://www.express.co.uk/posts/view/326075/Now-80-demand-vote-to-quit-EU

    http://www.zerohedge.com/news/greek-bank-run-update-%E2%82%AC100-%E2%82%AC500-million-day


    They be losing "CON"fidence of the pleeb's rather quickly may I add........



    On another note what was it that Pres. Eisenhower once said.......


    http://www.youtube.com/watch?v=8y06NSBBRtY

    Don't you feel safer now........

    http://www.infowars.com/28-of-federal-contract-funds-go-to-just-10-companiesall-make-weapons-systems/

    ReplyDelete
  3. Nice day so far, let's hope it holds.

    ReplyDelete
  4. out in orbit today but I can read comments just cant post much gl

    ReplyDelete
  5. AUQ running quite nicely today! Come on $9 :) My calls will be in the money and have 6 months left, the dream scenario!

    ReplyDelete
  6. The miners are gaining strength as the day is going on. I like to see this type of action. Good Day so far....Would like to see us end the day as strong as we started!

    ReplyDelete
  7. Look what the talking head said today:

    Gold is 15% to 20% Overvalued: Jack Ablin

    http://finance.yahoo.com/blogs/breakout/gold-15-20-overvalued-jack-ablin-160328165.html

    Now watch, we'll see all the puppets from CNBC, Bloomberg, Yahoo all line up against gold.... a sure sign it's about to go up. :)

    ReplyDelete
  8. This comment has been removed by the author.

    ReplyDelete
  9. 你他妈的我们做什么,我们要! hehehehehe


    http://www.zerohedge.com/news/china-tells-us-what-it-can-do-its-iran-oil-import-sanctions


    Sorry, a bit board today........

    ReplyDelete
  10. Very nice close... now to await the Thunder Vs. Heat game tonight :)

    ReplyDelete
  11. Here's a look at the mining industry in Spain:

    http://www.youtube.com/watch?v=qzGUL5dmTfE&feature=youtube_gdata

    "Raw Video: Spanish Miners Strike Turns Violent"

    ReplyDelete
  12. Would love to see some follow-thru the rest of this week. And, does the pog still take all other commodity prices up as Jim Rikards says it did in the '30s.

    ReplyDelete
  13. nothing to report of any consequence for tomorrow and I'll be on the road till evening...this is the endgame so be careful....explosive move up in gold an PMs could occur overnite anytime now .....more importantly the next move of major easing will be a coordinated massive infusion......its probably a few days off but it must be done soon IMO......gl all

    ReplyDelete
  14. btw very encouraging daily charts on many miners showing confirmation over prior resistance and now becoming support

    ReplyDelete
  15. From the Keystone Speculator:

    Provided a brief explanation of the Fibonacci sequence of numbers. The reverse of some Fib numbers is the sequence: 13, 8, 5, & 3. Keystone points out the QE1 lasted 13 months, QE2 lasted 8 months and Twist/LTRO lasted 5 months. Thus, QE3 or whatever you want to call it will last about 3 months. Keystone continues to believe some type of coordinated QE announcement will come out soon.

    Keystone also believes the S&P target of 1260 is still in play.

    Thus, perhaps we must hit the 1260 target 1st, and then the QE announcement will come.

    ReplyDelete
  16. I AGREE WITH THAT TAKE COMPLETELY DOC WHICH MEANS ITS WRONG

    ReplyDelete
  17. Bottom line is money flow telling you the "bottom" is probably in for the interm term for miners.......and it "could" be THE bottom...since there is no way to tell for months all you can do is make your best guess. Right now world economic certainty with the fear trade lingering provides a very few areas for cash to go...I will also post another scenario that explains why gold remains held "in check"....this one is even more devious......and I like it.....see ya tonite

    ReplyDelete
  18. Here they go taking gold down from the open. QE3 only 3 mos. coincides with Oct. surprise for the election...they've chosen the Banker for the next round of collapse.

    ReplyDelete
  19. Kli,

    I understand your concern. When a trade/strategy in the market has become too obvious, then it won't happen. Everyone keeps writing about the new QE that MUST come and it MUST come soon. So, some sort of trickery will come instead.

    ReplyDelete
  20. Kli thanks again for the blog... just nice to have somewhere to go to read some good stuff and have intelligent conversation with people. The comments areas of other popular sites and Yahoo are becoming freaking cesspools are garbage.

    ReplyDelete
    Replies
    1. Agree. The Yahoo message boards have turned into Romper Rooms filled with spammers, pumpers, dumpers, freaks and miscreants.

      These days, I read this blog, Zero Hedge and once in a blue moon Daneric's Elliott Waves. Spend the rest of my time studying charts and numbers hopelessly trying to outwit the casino.

      Delete
  21. http://www.stevequayle.com/News.alert/12_Money/120611.bank.update.html

    ReplyDelete
  22. Not familiar w/Steve Quayle but financial wars is right. Not good to be up against Russians/Chinese. In the meantime, Dimon testifying "this is an isolated incident".

    ReplyDelete
  23. no new news in it sista but i love the "sensationalism" bullchit approach...."ALERT" ALERT...hehehehe

    ReplyDelete
  24. Are we seeing consolidation / accumulation in most of the miners? Nice to see that most 1% drops are quickly bought. Looks like higher lows.

    ReplyDelete
  25. action remains positive....just have to remember they will try to kick you out of the trade

    ReplyDelete
  26. UPDATE - 11:08 AM JPMorgan CEO says execs may have pay taken back.

    That will teach 'em!

    ReplyDelete
  27. and whipped with cat o nine tails

    ReplyDelete
  28. JP Morgan's Dimon calls Volcker Rule 'unnecessary'

    ReplyDelete
  29. it is unnecessary for Jamie......he would use it only as a speed bump

    ReplyDelete
  30. should get a red tape for most miners which is expected and without a hard take down in a market close like this would remain positive....just chop shop this week....print a shitty tape this week and get some fear going into the weekend......could be the big move this weekend catch the shorts loaded and crush um with news of "big action"

    ReplyDelete
  31. It's all good. Miners having been doing well lately really. A small down day is healthy. Greek banks losing a billion euros a day in withdrawals. That can't last and be a good thing at all...

    ReplyDelete
  32. Caught some of the Jamie Dimon Comedy Hour.......... What a complete and total farce but I guess its the best entertainment that money can BUY!

    http://www.zerohedge.com/news/cost-best-senate-banking-committee-jp-morgan-can-buy-877798-bribes

    ReplyDelete