This just has the look and feel to a broken elevator market. I am not buying anything else until I get some real low PPT scores. Until then, I am 10% TLT, 40% cash and the rest in equities, with a little ZSL as a hedge. Silver was fucked today, with stocks lower but the ETF up. Go figure that one out.
All in all, it was another horrendous week and I am no longer in the jovial mood to talk about its many nuances.
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ZSL fucked me today. Total fuckery in silver.
HB,
I feel your pain. Account down 8% YTD due to two urethral catheterizations by WNR and ALJ to the tune of 20% each. I’m no baller like much of the PPT but even more than the money the fact that it fucks with your head really makes it hurt. Tharefore, I am taking the Fly’s advice, Better “Luck” Next Week, and beheaded every one but the most crucial of my holdings and taking a week vacation in St. Maartin with the woman. Long (OME GLUU AMRN)
Best of “Luck” next week gentelman,
Dr. Pope
WSJ showed selling on strength in SLV today.
WSJ’s strength/weakness site is worthless. Its based on block sales. majority go through the dark pools where the sales aren’t tracked. Welcome to 5 years ago.
go back to trading elementary skool, stpoopid.
I think it’s a good night to consume fine alcohalic beverages and forget about the stock market for awhile. All in favor say, AYE!
AYE!
Stupid Shanghai Copper Bubble….AYE, lol…
Ice cold Killians Red with burgers on the wood fired BarB along with fresh tomatoes, (local hydroponics) onions grilled in butter, sea salt and Malabar pepper along with a dessert of peaches and ice cream for me. BOOYAAAH!!
Your 2-1/2″ thick rib eyes suck hind teat. ……you ever see a hind teat?
Only thing that could make that meal better- cook it on a Big Green Egg!
I do not like green eggs and ham.
heater, quarter a pineapple and throw it on a grill,char it some over that wood. like steak. very ripe,and thick. wonderful.
Aye!
The play is short IWM and long UUP (or short EUR / USD) until QE3 is formally announced. Forget the treasury interest re-investment by the Fed and ZIRP as they lack any serious QE power.
QE 3 is what we need!!!
QE3 would send oil to 125 within days. That would send national Gas prices to above 5$ , after local taxes, are included. Retail and discretionary stocks would tank. There would be national media hysteria. You would see magazine covers with bernanke’s face overlayed on the gas pump
So, i actually think a lack of QE3 is bullish here. Look at how DRI CMG have fared. Outperforming for 3 days straight.
You really know how to cheer a guy up.
We still have house prices falling and thus very real deflation. The Chinese and Hong Kong housing markets have topped (and could also fall).
Our entire economic prosperity was centered on ever appreciating housing prices as this led to money creation via fractional reserve banking.
No QE3 = no more stock market rally and the second great depression…it’s really that simple.
We are totally fucked. The US will fall faster and harder than the roman empire. Remember they had to mint all their QE cash, we can wire the shit by the billions.
They’ll wait for it to be crystal clear that deflation is again taking hold, then announce another QE…then you go long dong silver, gold, and equities.
Rinse and repeat over and over again.
Since it’s so easy, show me your post from last August that says, “QE2 is here, I’m getting 200% long”…I bet you can’t find it.
Moral of the story – it’s never that easy, and as soon as you think it is, you’ll be shown how wrong you are by Mr. Market.
The bull market as a result of QE2 caught me by surprise. The Bernank put comment by that hedge fund guy got me long equities silver and gold.
The upward trending market since Sept 2010 is clearly in a sideways chop. More volatility, less predictability. More downside than upside. The next few weeks should be miserable.
http://news.yahoo.com/s/ap/20110513/ap_on_re_eu/eu_spain_beheading;_ylt=Anyo2GyLa_Y1VXihhxEQitL9xg8F;_ylu=X3oDMTMzMWVxZDZoBGFzc2V0A2FwLzIwMTEwNTEzL2V1X3NwYWluX2JlaGVhZGluZwRjY29kZQN0b3BnbXBlBGNwb3MDMQRwb3MDMQRzZWMDeW5fdG9wX3N0b3JpZXMEc2xrA21hbmJlaGVhZHN3bw–
Was that Rudy Valentino’s great grandson?
rumours say he bought $slv at $49 on Jim Cramer’s advice.
he was headging ,,,
There can be only one
Yeah, we’ll back here in the States, Obama is about to turn doctors into slaves:
“With regard to the idea of whether you have a right to healthcare, you have to realize what that implies. It’s not an abstraction. I’m a physician. That means you have a right to come to my house and conscript me,” Paul said recently in a Senate subcommittee hearing.
“It means you believe in slavery. It means that you’re going to enslave not only me, but the janitor at my hospital, the person who cleans my office, the assistants who work in my office, the nurses,” Paul said, adding that there is “an implied use of force.”
“If I’m a physician in your community and you say you have a right to healthcare, you have a right to beat down my door with the police, escort me away and force me to take care of you? That’s ultimately what the right to free healthcare would be,” Paul said.
you are fucking idiot. so is paul1 and pauljunior.
Mango, you were so much nicer when you appeared on Saturday Night Live. Why don’t you use your photo for your avatar? There is nothing wrong with putting your face with your kind words:
http://www.uncommom.com/wp-content/uploads/2011/05/mango-snl.jpg
Well played.
You may disagree with Ron Paul, or just not like him: but an Idiot he is not. His grasp of the current economic crisis is spot on and his ideas to start correcting the staggering number of Fucked up Programs foisted upon the unattentive populace are honest. 90% of the “Brain Trust” in Congress are lawyers, who can take a one paragraph succinctly written Bill and turn it into a 4000 page unreadable tomb..We need men of Ron Pauls’ ilk…common sense, plain speaking ,honest and the belief that the nation must be put ahead of all special interests and sleezy politicians who come to “seve the People’ and leave multi millionaires.
here here
I’m thinking the guy must have been taken over by Osama’s departed spirit……
That is truly sad. Some jackass judge let that guy out or maybe even failed to incarcerate his ass for eternity previous to this incident the way it looks. I don’t know how justice works in the Canaries but there should really be no need for a trial this time.
http://www.youtube.com/watch?v=a1sf2CzEq0w
“Homeless Bulgarian man with a police record” Why don’t they just say “Gypsy”. More economical and way more descriptive.
Then, I will wait until The PPT goes below 2.6 to allocate my cash horde upon the faces of those clamoring for the apocalypse
PPt closed today at 2.66, close enough? or are you waiting till 2.59 or lower?
yeah we all know where this market is headed. *shrugs*
What’s the one group that broke out this week?
Retail – lower energy and commodities is good for retail, restaurants, casinos and many other groups.
We have a consumer driven economy, higher oil and higher silver was not going to help that, or help our economy. These changes are strengthening the economy, yet the market struggles as the momentum money rotates out of what was working and into what will keep on working.
Look for housing to recover next.
Surely you jest……..
Just came back from a week of golf in AC, and the casinos were packed…even during the week. Last year, they were a ghost town.
But damn they need to do something about the smoking, or issue gas masks and free iron lungs to those that don’t.
BTW..just watched the original JAWS in its entirety a couple days ago. They just don’t make films like that any more. …….you can interpret that statement any way you want.
I could tell you stories, but I was drunk during the entire filming.
This mkt will likely blow off here as Benny B and his ink jets are not very popular outside of wall street
A sell off would allow The Bearded One to then go to the politicians and say see what happens if we don’t print?
The gun will be put to their heads and the next print run begins
This is a “the summer of recovery” redux
QE to infinity. Question is where is the pain threshold that the presses are allowed to kick in
“But earnings are great.”
If I hear about one more company beating by .01 or missing by .01 I’m going to lose my shit!
here here !
And now the flooding miss river will threated texas refiners, tough stuff. ?
Crack spreads back over 28. Show me the oil! Cause there ain’t none.
I feel like having a glass of cheap wine for my efforts this week because that is all I deserve!
You are selling yourself short. Think about it, may be a good trading strategy. You come back in as Julia Roberts.
No shame in searching out and finding quality $10 bottles. Nobody likes a wine snob.
Oil sands companies like SU CVE EOG need to be bought on dips. Unless oil drops beneath 70, there will be no slowdown in development of oil sands resources. That’s canada/usa’s only hope for a solution, as mideast instability causes saudi oil to become expensive and unreliable.
The shale/tar sands oil bubble has not even begun to reach mania levels yet. Sometime, in the next 6 months to a year, it wouldn’t surprise me to see such stocks travelling up at 90 degree angles.
http://www.youtube.com/watch?v=xFPwI3r4c-I&feature=fvst
Stay hedged
This is a Nasty tape.
Miner stocks as a group never performed this year at all, even though some individual stocks did do well at times. GDX never made it about its 2010 highs, no matter how high the metals rose. But it did participate in the downside.
I don’t know why anyone would buy the nonperforming metal stocks when they could buy the metals instead. Logically , when the metals go up, the miners that dig them out of the ground, often efficiently and inexpensively, ought to go up. But logic is verboten in the markets.
Also, the way metals have been so volatile lately, traders naturally do not expect rises in the metals to be be sustained. And if they are not sustained, then these rises would not positively affect the miners’ earnings.
Good observations, Frog. Looking back the recent COMEX and CME margin price hikes, one has to wonder if, in hiking the margin rate five times, they were leading or following the Chinese, or working in conjunction with them.. Consider this information:
SHANGHAI, May 13 (Reuters) – “The Shanghai Gold Exchange (SGE) will cut silver margin requirements to 18 percent from 19 percent from May 13 settlements if there is no sharp movement in prices, it said on Friday.
News of the margin decrease helped push the SGE silver forward contract up by 2.4 percent to close at 7,845 yuan ($1,207) per kilogram.
Trading volumes for the contract have surged. According to data from the SGE, volumes rose 3,043 percent from the start of the year to 2,256,280 kg on Friday.
“I think the lowering of the cost of trading could have helped in bringing silver investors back into the market today,” said Ong Yi Ling, analyst with Phillip Futures.
The SGE has hiked margin requirements for its silver forward contract five times since April 25 in order to curb volatility in the market. [ID:nL3E7GC2Q6]
“Silver is now the most speculated metal and any lowering of margins will lure more investors back,” said Hong Kong-based physical gold dealer Ronald Leung.”
Here is the fucked up part.. I think we going srt8t up next week
What is all this doom and gloom shit? Seriously, we are about 2 fucking percent off the yearly highs. God freakin’ damn people to read the posts you would think we were in Sept 2008.
Man up, get with the program and BUY THE FUCKING DIP you pussies.
When we are 8% lower, I’d like you to revisit this comment.
I’ll buy that dip too. End of the year we are going to be higher than this.
You are a very brave man.
Come on Guys and WAKE UP! On Monday, Timmy’s buy of $56B last Tues and Wed will settle on Monday, resulting us breaking through the debt ceiling!!!!! What happens next??? Will China start selling our treasuries? Will Congress raise the debt ceiling? Will our gov’t drag their feet? Will we default??????