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just looking at the chart you posted, looks like price was having a helluva time breaking 900, then once it breaks through we attempt to have a pullback to confirm breakout, doesn't get back to 900, but bounce off 901 and is off to the races...Quote:
Originally Posted by tronacate
just my 2 cents.
Super long thread, can't read it. Much discussion on Gold? Tell me to fuck off if needed but I'm thinking of rolling over a Roth into Perth Gold. 10% of total portfolio.Good idea?
probably gonna drop in the short term. bearish pinbar off the 950 major S/R area. next support area is around 932-930.Quote:
Originally Posted by Downbound Train
Read the thread,gold is 3/4 of itQuote:
Originally Posted by Downbound Train
why would building cash balances be a good idea in this scenario, after the "trillions of dollars printed..." There's gotta be a better place to put your savings (not just gold)
trillions havent been printed yet....but eventually the govt is going to have to monetize- itll take a while to monetize tens of trillions
TIPS is sometimes a good hedge against inflation but with all the action on govt securities themselves, there are too many questions if its worth it going forward.
Miners themselves, instead of gold, would work. Commodity baskets provide a hedge and a little diversification (not just banking on gold). Savings accounts or short term CDs have variable rates, investing in bank loans nulls interest rate risk
Quote:
Originally Posted by Brock Landers
If you truly believe in economic apocolypse then mining stocks are just more worthless paper. "Storing safely" either means cash in a safe deposit, phyiscal gold (which you can't store in a box), or having a home based depository.
Cool thanks. Now has anybody found better than 2.3% on long-term CDs? Is there a better thread for that?
Im not an apocalypse person...things are defintley fucked, but theyve been fucked before.Quote:
Originally Posted by 4matic
I think the govt has to get its shit together though and stop just tossing all of 2020's money at 2009's problem. At some point the piper needs to be paid. I think instead of (or in addition to) all the regulations thrown at CC companies, there should be something to slow down consumer borrowing (shitty time to do that, obviously) in addition to slowing down at the government level.
The savings rate at 7% as of last week is a 15 year high. Up from 0% a couple years ago. IMO a national consumption tax might work.Quote:
Originally Posted by Brock Landers
You can't store physical gold in a box?Quote:
Originally Posted by 4matic
I'd heard that but I don't think it's true. There are limits.Quote:
Originally Posted by Downbound Train
Who measures this "savings rate"? How is it measured? It has to be the worst measure of money flow out with us that anybody came up with. Do you actually think that the 63% of Americans who are homeowners have suddenly stopped paying off their debts (incurred by sucking equity out of said homes), and are "saving" their income? With nearly 10% unemployment? And "savings" already brutally hit with a 35% drop in equities, where many had their retirement "savings"? The way I see it, they just aren't spending any money, and, somehow, that's perversely being labeled as thrift. And, it has to be severely skewed by the upper 10% of earners, who, thank you, supply side freaks, are floating above right now. Well, most of them. Wish I was rich.Quote:
Originally Posted by 4matic
Conspiracy! Conspiracy! The sky is falling! Tinfoil!Quote:
Originally Posted by Benny Profane
Everything isnt a conspiracy against you...youre already on the internet, youre halfway there to seeing who measures the savings rate
I can certainly see savings at 7%...people with small CC debt paid it off and are now incrementally saving. Especially anyone with Capital One and their hiking of rates wanted to pay it off and get out. People with huge debts that havent paid it off are still in debt- not worsening the data at all. Certainly many of the people I know have paid down debt and started saving money (not much but multiplied a couple hundred million times, thats quite a bit)
Yuppers.......you buy the big toys......you pay the big tax. No exceptions.Quote:
Originally Posted by 4matic
Combine it with a progressive wealth tax and voila......simple fair tax system.
Ok, genius, tell me how it's measured. It's a number that just spills out of pundits lips lately, but, where does it come from? The same place Madoff made 15% a year? Would you just accept that without a little sideways glance and questioning? Really, what are these "savings"?Quote:
Originally Posted by Brock Landers
It's kind of amazing how people trust the bullshit sometime. The National Board of Realtors comes out with an encouraging sales report if a bunch of garbage foreclosures move out of an auction in SoCal and Florida. The same people that said a year or two ago that prices would never go down. And, yet, it sets in, and you begin to hear people say that real estate has found a bottom, so, we'll be back to bubble world next month. jezuz.
Short trading week, lite volume and the headlines are trickling in for the bears.
http://www.latimes.com/news/nationwo...tory?track=rss
http://www.bankinfosecurity.com/arti...hp?art_id=1583
http://www.reuters.com/article/wtUSI...55P51I20090626
http://www.reuters.com/article/wtUSI...40674320090629
Downward acceleration of biz cycle.
http://www.bloomberg.com/apps/news?p...d=ahO2orD9RszQQuote:
Originally Posted by liv2ski
This is largely ignored and poo pooed by the Kudlow-King dollar advocates. It's significant. And its a trend that is gaining momentum.
That is big news. Consumer confidence dropped and volume picked up today. I figure after the holidays downside volume will accelerate.Quote:
Originally Posted by Moeghoul
Then maybe one more push up.......then look out septemberish......roll over to new lows when the market figures out noboby can buy new phones with no job. The high flying techs will make for fine shorting ops.
Oil is going to start dropping in the next month. 62 is the next real S/R with 55 being a long term target.
Considering that the S&P trailing earnings are presently at ONE-FUCKING-TWENTY, I'd say we're due for more giant moves to the downside.
A mean reversion means going back to a P/E of 12ish.
So either prices come down 90% or earnings go up 1000%.
Which do you think is more likely?
http://www.gold-eagle.com/gold_diges...lor062509b.gif
Interesting......thanks for the chart.Quote:
Originally Posted by coreshot-tourettes
Well I just thought I was rich for a second !! AIG went up to 21.00 per share.... then split :( FUCK !!!!!!!!!!!!!!!!!!!
20-1 reverse splitQuote:
Originally Posted by bmg97
Trade over 930 SP00 turns the short term trend back to higher for a test of the recent high at 956. Nikkei leading the way..
Yep, like a kick in the dick !Quote:
Originally Posted by 4matic
Quote:
Originally Posted by bmg97
Reverse splits usually end badly. I think this one has a chance..
I hope this doesn't end badly. I didn't spend much ($1000.00) for 2000 shares at $.50 per share but would like to make a few thousand. Was just hoping to get alittle help in life from the purchase. RISKS !!!!Quote:
Originally Posted by 4matic
You obviously haven't been paying attention the past 4 months.Quote:
Originally Posted by coreshot-tourettes
Wall St bloodsuckers don't care about earnings. It's all about green shoots and silver linings.
Quote:
Originally Posted by coreshot-tourettes
From a gold bug site?
Since when does "presently" have anything to do with todays stock prices?
July 2, 2009
G.M. Stock May Be Trading, but Why?
By JACK HEALY
Major corporations are not known to advise investors that their stock is essentially worthless. But on Wednesday, after several days of high-volume trading of General Motors shares, the automaker warned traders that its stock would have no value when it emerged from bankruptcy.
“G.M. management continues to remind investors of its strong belief that there will be no value for the common stockholders in the bankruptcy liquidation process, even under the most optimistic of scenarios,” G.M. said.
G.M. was delisted from the New York Stock Exchange after it filed for bankruptcy protection in June, but its stock has traded over the counter for more than $1 a share.
Investors holding common shares of General Motors are expected to be wiped out by the reorganization.
YIPPEEEE!!! We only lost 467,000 jobs last month.
Markets should rally huge today. DJIA +3% easy. The only thing Wall St. bloodsuckers love more then free taxpayer bailout money and $25,000 dollar toilets are job cuts. Lots and lots of job cuts.
That's 72 months of job creation wiped out in just 18 months.
GREEN SHOOTS!!!...SILVER LININGS!!...LAGGING INDICATORS!!!...BUY!!,BUY!!,BUY!!
Failure on employment news is not good. There's a 50/50 chance for a rally back today but 870 SP00 next week is looking likely. Any close above 900 is still positive for further gains. I like that the dollar is rallying keeping commodities in check. Gasoline is weaker than crude and that's positive for US economy as well as lower rates. The ten year chart is at a critical juncture:
http://www.quote.com/us/stocks/chart...artUi.minutes=
TIMBERRRRRRRRRR!!!!!!!!!!!!!!!
PFFT...We don't need jobs. Wall St. will lead us all to the promised land.
HALLELUJAH!!!!!
Good call, I got dinged going long and bailed. Gonna stay outta oil for the time being.Quote:
Originally Posted by ICEHOCEY77
I've decided to dump all my earnings into the production of "Michael Jackson...the Musical".
TIMBERR!!!!!!!!!
Are we facing a deflationary spiral or will the monetary and fiscal stimulus ultimately create (hyper) inflation?
I just read an interesting take on this question... obviously not an easy answer.
We;re in uncharted waters, nobody has a fucking clue. I've read both sides of the argument and each side is compelling. But i'm leaning towards the inflation argument, especially if Congress lobs another stimulus bomb.Quote:
Originally Posted by Poop*Ghost