tag:blogger.com,1999:blog-7130708113832839690.post656991190562993369..comments2023-10-29T02:04:09.499-07:00Comments on Smart Money Tracker: I'M NOT BUYING ITGaryhttp://www.blogger.com/profile/14556370683669428668noreply@blogger.comBlogger165125tag:blogger.com,1999:blog-7130708113832839690.post-79446364476274808182010-11-16T06:04:26.623-08:002010-11-16T06:04:26.623-08:00Thanks for answering my question, Gary.Thanks for answering my question, Gary.Toddhttps://www.blogger.com/profile/04106518316301480635noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-23018842682928583912010-11-16T04:39:09.906-08:002010-11-16T04:39:09.906-08:00This comment has been removed by the author.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-71900020126975335642010-11-16T04:26:30.050-08:002010-11-16T04:26:30.050-08:00I will say that the stock market is going to gap d...I will say that the stock market is going to gap down to the 200 week moving average this morning. There is a chance that will halt the decline.Garyhttps://www.blogger.com/profile/14556370683669428668noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-64438710980819288262010-11-16T04:25:35.405-08:002010-11-16T04:25:35.405-08:00So far today's action has been meaningless. Bu...So far today's action has been meaningless. But it's stil early in the cycle like I said so I'm guessing a bottom either later in the week or early next week.Garyhttps://www.blogger.com/profile/14556370683669428668noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-53742767810342691762010-11-16T03:45:38.888-08:002010-11-16T03:45:38.888-08:00Gary,
Gold was above 1356.20 $ today, so we have t...Gary,<br />Gold was above 1356.20 $ today, so we have to consider more fall..., right ?Neohttps://www.blogger.com/profile/13018594796951003154noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-22327271717781658142010-11-16T01:41:43.855-08:002010-11-16T01:41:43.855-08:00Todd,
Gold would need to trade above $1376.60 and ...Todd,<br />Gold would need to trade above $1376.60 and also hold above $1356.20 to form a swing today. The normal timing band for a swing low is still a couple of days away so I would guess we probably won't see a bottom until either late in the week or early next week.Garyhttps://www.blogger.com/profile/14556370683669428668noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-58066101556474281192010-11-15T22:29:56.700-08:002010-11-15T22:29:56.700-08:00yea Andrew...we need one of those Jacksonian monet...yea Andrew...we need one of those Jacksonian monetary revolutions about now...thanks.Natanarchisthttps://www.blogger.com/profile/17320547998312593082noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-27538998333987139442010-11-15T21:40:29.086-08:002010-11-15T21:40:29.086-08:00Somebody called?? :)Somebody called?? :)Time to Diehttps://www.blogger.com/profile/17583348503374474187noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-83601294328118805762010-11-15T20:44:04.183-08:002010-11-15T20:44:04.183-08:00I think some of you are misunderstanding exactly w...I think some of you are misunderstanding exactly what QE is. It is not taxpayer money. It is currency, printed by the federal reserve, to give to the banks in exchange for their financial weapons of mass destruction. one purpose is so the banking buddies can use the new money to create new credit,ie inflation, as well as keep the price of US treasuries in an acceptable range to achieve their monetary targets( and keep interest on the debt low, -devalued currency while keeping debt service at zero, making nominal debt smaller is a brilliant strategy...as long as your creditors keep going along with it.) But make no mistake this is really about helping the banks, not the people. I am not suggesting this is a good thing. <br />Now government printing and spending 3 trillion dollars by either giving it to people directly or spending on infrastructure would most likely be more inflationary. In theory the FED will withdraw the QE over time as it sells the assets, not so with the Fiscal model of printing and then you certainly end up with a currency that "will not be worth a Continental"<br /><br />If we really want to solve the problems, it means the American public as a whole better get ready for a 3-5 year haircut..no make that a buzz cut. Everyone. And banks and bad financial institutions have to fall. federal and state budgets must be cut to provide the only the needed services. Dispassionately one could slash trillions from federal and state budgets over the next 5-10 years. Those savings could go to debt reduction and infrastructure. but I just don't see the people having the stomach for that right now. Shoot we're dropping billions on infrastructure in Iraq and Afghanistan (after we blew it up first- f*&king genius of a plan isn't it? Oh but we're all safe from the bogey man, now get in line, take off your shoes and let me shove this new device up your rectum America..cause you love it.- ) which doesn't seem to bother the American people too much...yet. Where's Andrew Jackson.Natanarchisthttps://www.blogger.com/profile/17320547998312593082noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-48862701994103466112010-11-15T20:23:36.055-08:002010-11-15T20:23:36.055-08:00Gary,
What price do we need to hit for a swing low...Gary,<br />What price do we need to hit for a swing low? Would it be $134.50 on the GLD?Toddhttps://www.blogger.com/profile/04106518316301480635noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-48182385556678369882010-11-15T20:22:16.452-08:002010-11-15T20:22:16.452-08:00I've got a gold futures buy order in the marke...I've got a gold futures buy order in the market at prices somewhat lower than we are are trading now. Good chance it hits overnight or early morning i think. (Got stops below it too, of course). <br /><br />I think the down action is pretty much over. We will see.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-14719771722815212692010-11-15T20:18:23.521-08:002010-11-15T20:18:23.521-08:00David & Aviot72
I heard the same report ab...David & Aviot72<br /><br />I heard the same report about Soros-that he has dropped a ton of financial institutions and held his gold positions into year end,etc.ALEXhttps://www.blogger.com/profile/04085157354083302362noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-5904272992740676592010-11-15T20:12:18.876-08:002010-11-15T20:12:18.876-08:00Hmmm, marketwatch says the opposite:
SAN FRANCISC...Hmmm, marketwatch says the opposite:<br /><br />SAN FRANCISCO (MarketWatch) -- Soros Fund Management LLC, headed by George Soros, increased gold positions during the third quarter, according to a regulatory filing late Monday. Soros held 4,697,008 shares of the SPDR Gold Trust<br /><br />I don't think soros is selling.Davidhttps://www.blogger.com/profile/03084833038198767100noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-80813290401569382242010-11-15T19:56:54.285-08:002010-11-15T19:56:54.285-08:00Frank,
My point had nothing to do with whether we...Frank,<br /><br />My point had nothing to do with whether we have manipulated "free" markets or socialism. We have both, so deal with it.<br /><br />My point was that the thieves at the Fed have stolen 3 trillion dollars from us and what did we get for it? Higher commodity prices and inflation across the board. Those of us who have above average intelligence AND have some funds to invest (2 out of 3 American households own no stock or their stock holdings are worth less than 10 grand.) can maybe benefit if we are willing to "invest" in the right commodity markets. Maybe. <br /><br />For my money, I'd rather spend that 3 Trillion on something that would help us all. Insulate 100 million homes, upgrade our transportation systems, improve our schools, whatever. Just give us something real and some of lasting value for our money.<br /><br />Moreover, part of the reason I wrote that comment about insulating 100 MILLION homes and spending 30 THOUSAND dollars on EACH ONE was to illustrate what a staggering sum 3 TRILLION DOLLARS IS!!<br /><br />Hell, we'd all be better off if Uncle Ben just mailed out checks for 30 grand to every family in America. I'd rather see that than the legal robbery that he's pulling off.pimaCanyonhttps://www.blogger.com/profile/09477196225992507658noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-7242651868657415722010-11-15T18:47:53.664-08:002010-11-15T18:47:53.664-08:00We have a long long way to go in this bull market....We have a long long way to go in this bull market. <br /><br />One thing you can depend on. Secular bull markets always go much further than anyone expects. The last bull rose from $35 to $850.<br />A 24 fold increase. The current bull has gained a little over 4 fold. Do you really think a secular bull market will end after only gaining 400%.<br /><br />Heck even oil gained 15 fold and that is a much larger more liquid market.<br /><br />The bull will be over when we see the public pile in, not before. I also believe we will see a Dow:gold ratio of at least 1:1. It's currently 8:1.<br /><br />This will be the greatest bull market that any of us will ever see in our lifetimes and it isn't going to end with a measely littel 400% gain.Garyhttps://www.blogger.com/profile/14556370683669428668noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-76070143175963160162010-11-15T18:44:53.392-08:002010-11-15T18:44:53.392-08:00Steven:
This margin changes only affect under-cap...Steven:<br /><br />This margin changes only affect under-capitalized traders. With the kind of swings we are seeing in SI/GC, these increase in margin is expected. <br /><br />To set a context, the ES needs to move 110 points for your margin to be exhausted ($5500). Each $1 move in Silver is worth $5000. So a margin of $10K gets exhausted in a $2 move in silver! Silver is a lot more likely to have a $2 move than ES is in having a 110 point move.<br /><br />If anyone is affected by these margin changes, they were horribly over-levered and were asking for it.aviat72https://www.blogger.com/profile/16729507895807002085noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-58422556391089166832010-11-15T18:41:10.418-08:002010-11-15T18:41:10.418-08:00This is meaningful
In separate news, George Soros...This is meaningful<br /><br /><i>In separate news, George Soros through a filing said his fund management company had cut shares in GLD from 5.3 million at the end of June to 4.7 million heading into the fourth quarter.</i><br /><br />Soros has stated that the key to riding any wave/bubble is to know when to get off. I think he just fired the first short across the bow.aviat72https://www.blogger.com/profile/16729507895807002085noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-21710483359187576562010-11-15T17:13:09.129-08:002010-11-15T17:13:09.129-08:00Thanks for the feedback on the margin issue. It a...Thanks for the feedback on the margin issue. It applies to shorts and longs but I would think the shorts have deeper pockets (especially the concentrated ones with the banks). Do we think this will positively or negatively impact the price of the metals. The last one seem to squeeze the shorts first and then the longs when we had that crazy $3 swing day.Stevenhttps://www.blogger.com/profile/04087690444538654869noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-34523709146099335812010-11-15T16:45:01.521-08:002010-11-15T16:45:01.521-08:00Hey!
Somebody owes me a veggie burrito. :)
I'...Hey!<br /><br />Somebody owes me a veggie burrito. :)<br /><br />I'm signing up tonight!Jessehttps://www.blogger.com/profile/06623811476726833250noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-10134124649206546272010-11-15T16:43:37.078-08:002010-11-15T16:43:37.078-08:00Neither money printing nor some nonsensical insula...Neither money printing nor some nonsensical insulation edict has any place in a free market economy. And there is nothing wrong with purchasing foreign oil. It is Neocon fantasyland that we should become self-sufficient in energy. Why not become self-sufficient in everything and close off the borders?<br /><br />People should decide for themselves if they want to insulate their homes or buy new windows.<br /><br />In any case so-called fiscal stimulus and money printing go hand-in-hand. Both are parts of the rotten Keynesian-socialist model. In order to continue on the path to greater debt the U.S. depends on the supression of interest rates and this requires the non-market based intervention of Fed bond purchases.<br /><br />Japan was different because it could semi-coerce its citizens to purchase bonds at close to zero rates. In the U.S. we depend on foreign and now Fed purchases to support the bond bubble.<br /><br />The big question is how the end game in the bond bubble will affect PMs. One hopes that real interest rates are still negative, i.e. inflation outstrips bond prices. But unlike the 1970s our measure of CPI is badly rigged so who knows how it will play out...... remember that Volker killed the PM bubble in 1980, but at least this time around the government is "on our side" trying to push rates in the other direction.<br /><br />If we had a free market then I could do something more productive than chasing PM stocks.Frankhttps://www.blogger.com/profile/11715196278958278877noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-14097267570319094352010-11-15T16:20:38.571-08:002010-11-15T16:20:38.571-08:00Risk appetite in precipitous decline - good post f...Risk appetite in precipitous decline - good post from <a href="http://ibankcoin.com/flyblog/2010/11/15/be-alarmed/" rel="nofollow">The Fly</a>.Unknownhttps://www.blogger.com/profile/01876241214204296062noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-31366234792845665312010-11-15T16:17:42.128-08:002010-11-15T16:17:42.128-08:00Dance around the words if you like, the country...Dance around the words if you like, the country's throat was slit to the tune of $3 trillion (and I'd wager that's not even close to what the criminal Fed has done, only what they acknowledge).<br /><br />All with zero help to the people that are forced to pay for it (slavery), against their votes.Shalom Bernankehttps://www.blogger.com/profile/16590351870092138098noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-19182193961719243342010-11-15T15:58:14.932-08:002010-11-15T15:58:14.932-08:00What Pima is arguing for is called fiscal policy. ...What Pima is arguing for is called fiscal policy. Calling me a panzy (sic) doesn't change the definition of the term.Davidhttps://www.blogger.com/profile/03084833038198767100noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-29156856873129760422010-11-15T15:51:20.552-08:002010-11-15T15:51:20.552-08:00Steven,
The exchanges are raising margin requirem...Steven,<br /><br />The exchanges are raising margin requirements on gold and silver because they do not want accounts to blow out. <br /><br />This is there way to protect themselves from small accounts that are over leveraged.<br /><br />This is normal action taken by the exchanges when increased volatility enters the market.<br /><br />With all due respect arron is 100% WRONG<br /><br />"Historically a margin raise is always accompanied by a raid. They do this to cause margin calls, so its almost a given that silver will trade lower in the days to come. 2 margin raises within a week... Ive never seen that before."Anonymoushttps://www.blogger.com/profile/07601347318769024071noreply@blogger.comtag:blogger.com,1999:blog-7130708113832839690.post-11688830297303260292010-11-15T15:46:43.448-08:002010-11-15T15:46:43.448-08:00David clearly has no clue, while Pima makes a good...David clearly has no clue, while Pima makes a good point.<br /><br />The money did not go to anything useful for Americans, it was stolen by the criminals that caused the problem to begin with. Forget "fiscal stimulus is politically unfashionable", those are the words of a PC panzy. It will only get worse until the criminals hang.<br /><br />I guess monetary stimulus is politically fashionable? As in, Americans have no choice because the Fed's monetary policy, being private banks, are accountable to nobody?<br /><br />I guess helping poor Americans is unfashionable, while letting scumbags rob everybody is just something we should learn to deal with, eh?Shalom Bernankehttps://www.blogger.com/profile/16590351870092138098noreply@blogger.com