Gold and silver reversed to the upside, in rather dramatic fashion this afternoon. There doesn’t need to be “news” to see the metals trade up, being that they are lagging the commodity space. Chalk it up to more buyers than sellers. I am not an authority on the metals and can only recommend a handful of names, EXK being my fav. If you want more insight, Jakegint is your man.
Chinese stocks are being destroyed, thanks to a coordinated short attack on CCME. For the record, I do not know CCME and couldn’t care less. But, the stigma of anything Chinese is scaring investors out of all stocks, BORN included. Comparing BORN to CCME is apples and oranges, as BORN went through the regulatory hurdles to come public, via iPO. Either way, it is not fun being on the receiving end of the homo-hammer. In my opinion, it is a buying opportunity.
Separate from that, I like ATPG, AGU and MOS, into the bell.
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fig dammit
similar:
http://www.youtube.com/watch?v=INmqvibv4UU
http://www.liveleak.com/view?i=bd8c248ca2
I never realized they sound so much alike. ……..
Both of those men carry the same realism and gravity in the messages they disseminate.
Freakin hilarious.
nice call on the gold/silver, monsieur le Flea
Obama’s solution for Egypt:
hand out free flame throwers to everyone
Food processing stocks seem to have life here, plan on picking some up on a little pullback..
plus CCME has a real auditor and Hank Greenber’s firm is a huge holder and has been buying more, and that guy is one helluva forensic analyst. with a gun to my head I’d say CCME is legit but I have no position
before anybody does something stupid like shorting oil, the last time the cracks got this high, oil & gas moved up 30% within 2 weeks….
Just oil.
I like BRKR and IPXL still.
DE > MOS, CAT, and whatever other gay farm names you have listed.
ABC says Mubarak is “fed up” and “wants to resign” but he “can not”
nice to see these chinese scams get what’s coming to them
Yemen is the next crucial domino and is now feeling the contagion, so even more huts will burn. Of course gold and oil are up and stocks should go down, not to mention the squeeze in hut, stucco, and firewood futures as inventory is reduced.
whether war or democracy, US equities will rally – either outcome would be just fine
Gold is up because tomorrow is mosque day which coincidentally is riot day in many parts of the Mideast.
Just trying to get ahead of the Imams in Egypt.
As an aside, Cramer said the NEM takeover was a sign of gold shortage.
I say no. Most of the gold mined in the last 50 days is still around above ground.
Mines may be getting old (like in SA) and it is thus more costly to remove it but that is about it.
I bet Cramer didn’t say that when PDG (Placer Dome), HM (Homestake), ECO (Echo Bay), etc. was taken over.
The GLD etf is distorting facts (and it will do so also on the downside).
Trade on.
I’m scurred.
Agreud.
Most of the gold mined in the last 5000 years is still around above ground
har
Except for the stuff the zerohedgers have buried in their backyards.
Picking up some COW.TO.
I wonder if PM’s and the dollar both going to go to the moon together, hand in hand, or is one of them lying today.
both are havens of safety till things cool off over there … then PM’s should correct while the $ continues to strengthen … my view anyway
Thanks 4 your perspective, Teahouse.
What would drive the US dollar to continued strengthening?
Since UUP began trading, it looks like it always bounces around 22, for whatever reason. Oh, you meant a funnymental reason. Well, here is one. All paper currencies are worth no more than toilet paper really, so different ones take turns being the finest toilet paper of all. If/when PM’s pull back, that is the signal for something to start looking like the finest toilet paper of all.
The move today was pure Fed-speak (Bernanke & Fisher although Fisher said nothing new) & ECB (Trichet). Granted, it was on the back of a nice 900 pip move that was vulnerable to some give-back.
Better employment numbers out of the US were mentioned by Ben as a catalyst to slow the easing. Reaction to the next few employement numbers will tell how seriously FX traders will take that statement.
Wow, afternoon rally…who would have thunk it?
Better question would have been, who would have doubted it?
See my post from 8:42am – I had no doubt.
lol – I believe you, just sounded like a good rebuttle to throw out there.
See all of my posts since June. They all say the same thing – “I believe in the power of bearded man named Ben Bernanke”. I started the Bernanke fan club when it wasn’t cool to be clamhead.
Great trading music: http://www.youtube.com/watch?v=p-f0510qYnk
Lol at mosque day
BORN is getting knocked down because it is Citron that is doing the CCME piece, and you know who Citron is, Alftred Little, who is also the Seeking Alpha Wrtier on BORN, and he has BORN article up at his site too….such a small little world this game is.
LOL, This reads like a criminal investigation report.
LOL, so true it does, but what would expect from a ex Criminal Defense Atty, lol….btw I failed to link Citron,, http://www.citronresearch.com/index.php
Picked up BORN near the close and sold it 5 min. later for a 3.1% gain!
Thanks FLY!