Asian stocks are getting kicked into idle manholes this evening, as investors figure out the math pertaining to the world ending. I know this is hard for you to grasp and/or understand, because you have the IQ of a small goldfish. However, as sure as I am sitting here, in my Gucci designed space rocketship, Earth is going to explode, reducing your bodies into atoms.
As an aside, the dollar is roaring tonight, up 0.7%. And, to boot, oil is getting sharked, down over a buck. Naturally, silver is up, as werewolves continue to horde the idiotic metal to stave off extinction.
I expect to make some money in my TLT tomorrow and lose in my silver stocks, as well as my short silver hedge, because the world is fucked up like that. There is nothing you can do with silver, aside from host high end dinners, sending your butler away to fetch the silver tea kettle. I don’t know what people are thinking, buying silver amidst the Hugh Hendry taking place (treasury bonds up, dollar up). However, truth be told, I have more than 15% of my assets wrapped up in silver stocks, with a hedge long ZSL. The relationship between silver and the underlying stocks is completely off track, as well as the relationship between silver and gold, dollars, candy bars or UFO sightings.
Like the amazing spectaculars at Puma Punku, logic does not exist in SLV.
In closing, prepare to be evaporated shortly.
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Can I get a WITLESS?!
What’s the proper attire for doing the Hugh Hendry? Top hat & tails?
Yes. Don’t forget the martini glass.
Sir Le Fly,
Have you been told: you have a talent for writing?
Best regards,
F. Scott Fitzgerald
I must be one with an IQ of a goldfish since I can’t possibly understand why one would short silver and go long the stocks when the clear trend has been for the stocks to at best lag the metal if not correlate inversely.
Your claim is bullshit, as the stocks usually track the commodity close. For that, I declare you are an asshole with an IQ less than a puffer fish.
Believe what you want, but there was great gnashing of teeth during the last run up in silver when the stocks greatly underperformed bullion. I could MAYBE understand going long the metal and short the stocks, but the doing the reverse makes little sense to us puffer fish. Sorry to assault your fragile ego.
Even someone with the IQ of a goldfish woudn’t underestimate the Gold Men at Goldman Sachs. Just a few weeks ago hey announced that commodities prices were going to fall. They are probably shorting the $hit out them using ungodly leverage. GS stock may be losing value, but the Gold Men are still banking coin.
Please allow us to introduce ourselves
We are men of stealth and taste
We’ve been around for a long, long year
Stole many a man’s wealth and faith
Pleased to meet you
Hope you guessed our name, oh yeah
But what’s confusing you
Is just the nature of our game
Just as every cop is a criminal
And all the sinners saints
As heads is tails
Just call us Goldman Sachs
Cause we’re in need of some restraint
You KNOW I have been waiting for this for such a long time.
Speaking of the dollar strength over 76 now? Been riding the long since May 2nd. Shit ran through my targets when I was asleep. Decided to add when I woke – back to sleep.
I did see that, HSBC Flash Chinese PMI confirmed the lack of bullish giddiness and caused weakness in the AUD (Australian dollar).. And as you know, for me, I have been psychotic for a while on this side of the trade..so,.it is nice to see our little dollar run. Good Night.
lol… great post. /zn futures (10yr bond) are running higher so your TLT will soar tmrw. gonna try to stay up and trade the 3am european open massacre…as for silver, one final shakeout before it will really take off again. i got my buy order in at 28.50…
I still maintain that we see new highs for the year this summer
There is too much money positioned in safety trades (staples, utilities, bonds, etc)
The loudmouth TV trust fund baby “analysts” are trying to talk the market down so they can stay on vacation in the hamptons, until september. It won’t work. They will get run over.
The bears pulled this same mistake last summer. They completely underestimated how strong EEM emerging markets can bounce. Especially , when money is fleeing Europe. And, the multinational corps that run the dow are far more concerned with emerging markets, than the future of europe.
Can’t recall the last time we managed to crash, with so many people positioned for safety. I mean, aside from james altucher’s wig, what analyst is leaning bullish here?
The market did let them stay on vacation in the Hamptons until September last year. Look at the chart.
Who knows though. U may be right. The market can do anything. Everyone talks their book all day long though, but no one knows what will happen.
If the market did crash, then staples and utilities would probably go down with it. “Defensive” stocks usually go down less than other stocks but still go down.
Credit crises and such don’t care whether analysts are bullish or bearish. If Europe actually IS disintegrating, analyst opinions won’t matter either. But that remains to be seen next week.
Last Summer the market was starting to roll….but the Clam and his QEing came in and stopped it from happening. IMHO he has lost his power with the good NFP data and fears of inflation buzzing around. Right now India, etc is looking for China to start replenshing their ore stockpiles leading into the Monsoon Season…I don’t see it happening at all. Timber. Finally, I hope.
Actually, EEM made a major bottom in June. It actually made higher bottoms , following each bottom after the one printed there.
It was in an uptrend many months before anyone started pumping QE2. Had bernanke just stepped aside, it could have stabilized or saved the market alone.
Aug 27, 2010 was the Speech announcing QE that saved the SPX from rolling and that start of the rally.Shanghai Comp was testing support in July 2010, but would have rolled if the Speech was not made….pull up copper chart, http://www.kitcometals.com/charts/copper_historical_large.html#5years …again, August started that big push up…before then we were just chopping from April 2010 highs. FWIW, so many cycle theorist got killed on that Rally, the Fed seemed to throw off all of their data, so IMHO it will be even uglier when they finally get their cycle corrections.
Pana..I see your bottom on the MSCI EM, but looking at my diary notes from July 2010 we had a Eur/USD at only 1.3000 it was so weak and testing resistance. in other markets…It would have been great to see if the Markets could have held without Jackson Hole Speech announcing upcoming stimulus. We will never know.
But also to your point, I could see one last attempt to push up the market this summer. The 261% Fibo Level (2007 highs/2009 lows) of the NYSE Advance/decline Issues is about 235,000ish and it being so close to that resistance level I could see those bots running up to test it.
A tanking market would bring cries for QE3. That is the music Ben is just waiting to hear.
There are dissenters on the fed governor board. Thankfully. Qe1 and Qe2 worked so well apparently…
Strange to be hoping for calamity for personal gain.
Cascadian..Remember 2007 Housing Bubble, IMHO if people saw it earlier and stepped in to stop its growth they would be heros and would have saved many great pain. We have made a bubble that makes the housing one tame, it has to pop…
Dr. Fly
I was waiting for PKX for some time, Is it time to buy PKX?
Thanks
Watching Billboard awards now and can’t help but wonder who gets shot on streets of LV tonight. I’m just sayin….
Well, since the world is ending, I may as well get some sleep. Good night, All. Was nice knowing you until the world ended. May we all enjoy the Rapture thing that’s supposed to happen at the End.
Dollar strength and euro fears will beat down commodities short term, and create a gonga buying opportunity for the bounce. Emerging market demand ain’t done by any stretch. WTI will likely see $120 this year, before serious demand destruction sets in. Likewise, The Bernank and the euro-degenerates will piss on PMs as a dollar hedge short term before another monster move (2012 or beyond.). Damn the torpedoes, BTFD, and do the Hugh Hendry as you swing, like Tarzan, over the chasm between the peaks.
They don’t need commodities, except for soft ones. They have too much stockpiled with factories closing down for Summer Energy Savings and Monsoons…this is so not 2009. Stupid Shanghai Copper Bubble is getting close to finally popping. Go USA!!
I’m wearing my VXX tee-shirt all week
This market is toasted if it pierces 1320 SPX with conviction.
Trading nymph has the best advice of them all?
First the end of the world is in 2012 some dumb ass got the math wrong.
The fed will do whatever needed to keep the party rolling till then.
I could go on but what’s the point
Some people in Joplin, Mo may disagree with you about the end of the world not coming. The Fed can only do so much, but, ultimately, randomness rules.
Unreal call on the $TLT, indeud.
Long $UUP and $EUO
Well, I’m gonna tune in the Scott Bleir show and then tune in my show. Stick with Virgin Cramer.
Sure hope Ben Bernanke wasn’t one of the 2% that got snatched up to Heaven this weekend…even though he’s Jewish.
mos gets a few more buy call
lng smokin..