Thursday, July 5, 2012

HE KNEW

Hayek
Game on. Today was a major wake up call to those that believe there is a snowballs chance in hell that the ponzi masters aren't going to print to keep this ponzi afloat. They will. You ain't seen nuttin' yet.


Byron Wien
Blackstone's Byron Wien is up with a new blog post, wherein he relays a conversation he had with someone he only refers to as The Smartest Man In Europe.

Wien doesn't say who The Smartest Man In Europe is, but describes him as basically an incredibly brilliant, wordly, rich businessman.
Many of you remember The Smartest Man from earlier essays; I have been writing about him annually for more than a decade. He has been a friend for thirty years, and during that period he has shown an almost uncanny ability to see major events affecting the financial markets before other observers. Among these were the fall of Japan as an economic power in the 1980s, the economic changes in China and their significance the early 1990s, and the serious consequences of excessive borrowing in the developed world in the last decade.Continued below.   http://beforeitsnews.com/story/2342/212/Smartest_Man_In_Europe_Predicts_Catastrophe.html


Back to the current state of affairs. For now we are in the summer doldrums. The boyz are getting out of town. They do not want to be bothered by any major events right now so do not expect a lot of extreme movement over the next few weeks. On the other hand pay close attention to the miners here. If my premise is correct some of our miners should start showing signs of breaking out into longer term bullish patterns. Note AUMN on the hourly chart I posted. More of these patterns need to develop with higher highs and higher lows confirming.

Gold also needs to get up into the 1680 and hold area. Otherwise we are vulnerable. Miners will not hold up if gold takes out a new low from its current range. Oh well, its still only temporary. Where else are you going to invest right now?

Back to my summer now.......gl


35 comments:

  1. SSRI filled its gap...heheheh....shocking

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  2. KGC headed for its gap hehehehe....bet they all fill today

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  3. Ryan, forget Gene and run with dsco right now...more shares based on lower entry point and it looks like buyers are filling in...

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    1. Thanks Honest. I got stopped out of GENE this am. Will look at DSCO. Thanks again. Good luck!

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    2. Almost forgot - Check TSPT.

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  4. http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/7/5_Yamada_-_Gold_%26_Silver_at_Critical_Points_in_This_Cycle.html

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  5. market tanking hard now and miners all turning off support now....hmmmmmm could be an interesting day

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    1. Miners strength something else here lately. Very encouraging action!

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  6. Glanced at THLD options... calls are expecting big pop soon it seems like. Very pricey!

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  7. Fire second round a RIC. PM's should rally here. NUGT soon. (Sorry Kli) Should be euro zone hopium that weakens the dollar into the close.

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  8. http://www.zerohedge.com/contributed/2012-07-06/are-banks-raiding-allocated-gold-accounts

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    1. yes sheeps it sets up for some real explosion as the CONfidence meats reality

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  9. Chuck, you been watching natty? stop shop central.

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    1. sheeps I was looking at it earlier before the report...thought about shorting it but didn't ...I think it trends down for a bit...

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  10. click, click, the sound the shot gun makes loading a round...

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  11. GV finally getting a bid. GL all.

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  12. Stupid of month for me was exiting XOMA at par...the baker brothers are in it and the chart is beautiful with 50 above 360 and 2 giant volume candles in last 30 days...

    the baker brothers are the kings of bio investing...so they are in the know...

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  13. Biotech....for me is hard to game.

    BTW the ATM machines of the largest Russian Bank are off line....

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    1. you aren't the only one...
      think of the people who got in on top, I should have just held the shares bcse I was in much better position than most on XOMA

      http://finance.yahoo.com/echarts?s=XOMA+Interactive#symbol=xoma;range=5y;compare=;indicator=sma(50,180,360)+bollinger+volume+macd+rsi;charttype=candlestick;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;

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  14. Chuck, I would like to see Natty come back, way back before I try again.

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    1. I would like to see it around 2.50 before I think about it...

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  15. http://www.zerohedge.com/news/rbs-glitch-goes-airborne-biggest-russian-bank-halts-all-credit-debit-card-operations

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  16. ben ramping on the fear pedal now......push it hard ben...we NEED that QE....heheheh

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  17. pushing hard on the stops now....pop....pop.....bulls getting hammered right now......cover for Ben coming soon

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  18. several of my miners now turning green....pzg...ssri....tlr....very sneaky these guys...that's not retail

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  19. Market has to fall to catch up with the Euro divergence. Either that or the Euro needs to pop very hard, don't see that happening without some sort of catalyst. Odds are good for the market to continue falling for a bit at least, though that seems pretty obvious at this point so I gotta wonder if something won't happen over the weekend?

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    1. same game for another few weeks maybe but the ice is getting thinner and thinner.....so trying to time the big stimulus is a losing game...but i still like to guess.....action today on miners tells you its coming

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    2. Just seems too obvious right now... I dunno I'm so paranoid now of getting seriously short though JPM is tempting me. I mean the Euro looks like chit right now. How far is Ben really going to press this whole "NO QE!" thing? To the point of it being too late? I noticed the CNBC talking heads were going on about how QE wouldn't solve anything today as we have known for YEARS but I just don't see them not doing it. Deflation is what they do not want.

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    3. its all about control Hub....they want to maintain it... Ben is doing what he is told.....this is all about having resources in the right place and sovereign chess pieces in place.....when its time to kick the board over they will do so.....the drumbeat to war is just part of the symphony......when the time comes then it will all be in place

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  20. SVM was up 4 days in a row and I thought the chart pattern looked pretty good. The MACD looked to be setting up a bullish cross.

    But today--POW! The volume though is low. So, maybe they are just trying to take out stops.

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    1. trying to contain the trade doc...and accumulate....thats their game

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  21. sentiment on miner trade must still be in the dumper

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  22. ITMS saying there will be a time but not yet...maybe they read Martin Armstrong! Another I follow also not trading miners yet. Disappointed some didn't hold up better, esp. at eod. Have a great week-end.

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  23. we may not get anything big on miners until Sept/October...I'll be satisfied with a sideways type movement

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