Wednesday, September 26, 2012

EUROZONE AUSTERITY WELCOMED

Joyful Spansh citizens turned out yesterday en masse to welcome austerity cuts to the Spanish budget. Police swarmed the turnout in an attempt to control the celebratory display. Several Spanish politicians wanted to join their adulatory fellow proles but decided the better part of valor might be to have the black clad militarized police to greet the crowd with some jack-booted, baton wielding welcoming instead. CNBS reported from afar proclaiming the demonstrations of affection for maintaining the Eurozone had become too boisterous and some rubber bullets were used to quell the outpouring of enthusiasm. Of course the proles demonstrations will be taken into consideration as the Euro-planners consider the next bailout for Spain. Only a guess here but after the festivities in Madrid, the money printing may start printing much faster and in larger amounts.....especially if the Greek celebrations for austerity are equally raucous today.

For those of us concerned with our own employment problems in the U.S. one only has to look at the terrible labor problems for the NFL referees. EVERYONE dutifully mentioned the "CALL" on Monday Night Football. These are the issues that we as Americans are concerned about and focus our attention on. This is what represents our focus of attention.........football. Diversions of the proles still are able to keep the masses in check. Most proles could care less about the overseas breakdowns. Most Americans have no idea that under 26 employment in Spain and Greece is now over 50%. Let's not get into what else the populace is dumbed-down on.....it only elevates frustration.

All of these issues will only add to the need for Central planners to monetize quicker and more dramatically. If the proles begin rioting then measures to placate the violence will be taken. Printing is the least violent of measures and we don't need to imagine what the next steps will be. In fact many of those steps are already in place.....its like slowly boiling the frog.......you just don't realize it.

Pay attention to Greece today....General Strike is called and a large crowd is expected....look for another day of brawling on CNBS. Is this the real deal? I doubt it. Just another prelude to the real deal which is coming sooner than later. But today should give some pause to the general equity market as the Greece proles show their disdain for austerity.


JOHANNESBURG (AP) — AngloGold Ashanti says strikers are halting all its operations in South Africa which provide 32 percent of the multinational’s gold production.
Strikes demanding higher salaries began at a Lonmin Platinum mine Aug. 10 and have spread to several others in the mining sector vital to Africa’s largest economy. Anglo American Platinum workers have been striking for weeks. The labor unrest spread Monday to the transport sector with a major union saying 20,000 road freight employees are demanding a 12 percent pay rise.
Spokesman Alan Fine said strikers prevented Tuesday’s night shift from starting at AngloGold Ashanti’s West Wits and Vaal River operations. They joined co-workers who downed tools at AngloGold’s Kopanang mine on Sept. 20.
Fine said strikers among 36,000 workers at the three sites have not yet made demands.end of story marker


PM equities are having some much needed air let out of the trade. If you do trade you are getting a nice re-entry....if you didn't get in the trade some of the miners are getting on sale again. Have fun......this casino is going to get wild........gl

28 comments:

  1. Gold getting crushed this am. NUGT down over 3% premarket. Looks like it might be a good morning for some shopping!! Good luck to everyone.

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  2. I have to overlook the chaos, money printing, and other fundamentals in this type of market.....they will come into play for PMs eventually and they will determine the long term trade.....BUT this pullback was the best case scenario from a technical standpoint and makes me feel we are only setting up for a much larger move up in October....so gl

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  3. Just to remind everyone, the markets were rising in anticipation of QE and then popped higher when QE was announced. Phil Davis then believes the markets will sell off about 4% or so which would be an S&P around 1400. He wrote today that the Euro needs to settle below 130 and the dollar above 80. Then, earning announcements will be coming which the MSM can pump how great everything is. Hopefully Europe will be fixed again by then so the markets can rise.
    So, it is time to look for buying opportunities but maybe don't buy quite yet.

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    1. I've been hearing rumors of earnings not looking good this qtr...

      this market is a powder keg and lighter away from ugliness...but that lighter is in MM's pocket...

      Crazy market...absolutely tough to trade right now...any profit on trades has to be taken or it will be gone in hours...

      Doc-Is SVM divi today, stock holders as of today get in?

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  4. Fully back in now from my Friday profit taking........not a lot of cash was raised on Friday would have loved to have sold a lot more and bot back in at today's prices......hehehhehehe......hang on and letum play now........just gonna watch

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  5. so far buying on weakness in the miners..........shocking...hehheheheheh

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  6. here is the headline for CNBS.....IS THE RALLY OVER FOR GOOD? welllll ya know what that means

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  7. Full moon in a few days. save some bullets!

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  8. Next we take back the BS Draggi up day and thus back to square. Vix is clearing the lauch pad.

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    1. timewise a nice two week handle on gold's cup n handle would fit......on the other hand dont count on it.....overtrading this move will get you killed too......gl

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  9. Not trading miners. Only looking to add. LONG vix. Short AA. Good support here at 1432-1430. If this breaks look out.

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    1. if they can push silver close to 31.....i'll make a sizeable physical buy.....if

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  10. http://www.zerohedge.com/news/2012-09-26/39-south-african-gold-production-now-offline

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  11. qe-3 may only filling a liquidity gap. There will be a large qe-4. IMHO. The demand for Physical dollars out of the Euro Zone must be intense.

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  12. Me too sheeps...bought more ppp this am @4.98 and was worried for a coupla hrs. So far so good. Also looking at ag but didn't leap, may regret.

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  13. looks like oil could go to 81 for election sheeple high...

    jumped into Dug...

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  14. Miners really heating up. I sold some DCTH at a lost this am, but got into NUGT at 15.55. Content to watch.

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  15. They prolly pull the rug in the last hour. Miners in a bearish wedge for what it worth. Another last hour rout and I say somewhere a fund is blowing up....

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  16. close em at 1416...hehehe. Window undressing.

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  17. hot money coming into these miners and only so much downside going to happen with the QE nitro charge coming

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  18. SSRI reversed hard off its 2hr lower channel today yum yum

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  19. GPL formed a rocket candle off of support at 2.10 today.......bababooooom

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  20. gotta love the action today weak red market.....green miners off very weak open

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  21. Stupid question, has qe3 even begun? Used to have a website which told exactly when & how much the fed buying. Will see if I can find it.

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    1. http://www.newyorkfed.org/markets/tot_operation_schedule.html

      you can find it here along with a bunch of other stuff

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  22. I got PPP at $5.00. I've Been sitting on a GTC for several days. Didn't have time to baby it.

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  23. Doc.

    the bankers I was talking of are a get rich bunch. 2X is all they are looking for.
    if silver goes up 2X they double their $$$$.
    gold to 2X the price would be 3000+

    so silver is the play of the day....ps. there accountants told them to make the silver play

    they have a play on gold.....now you are going to love this...LOL

    some guy came to town with some nuggets he found in the south west and can process it at other state.....LOL

    I can not talk to these guys....

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  24. Paladin,

    Thanks! I thought there was more to it than just their wanting to double their money.
    Gold??? Silver??? or both???
    I'm favoring silver for now.

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