If you are short and crying in a shower now, cheer up. The market is a Brazen Bull and everyone gets beat down. The Italian yield story is over. The ECB has intervened and CRUSHED the bears, sending yields back down to 6.44%. This is hard for you to accept, mainly because it seems to plausible that the world should end now. Unfortunately, it is not.
The Turkey Gods have spoken and they favour higher equity prices, going into the celebratory day.
Gold and Silver is my theme. But in addition to that, I am very much interested in names like LULU, BZH and of course refiners.
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What are they going to do when France’s 10 year starts spiraling out of control?
S&P already fixed that one by retracting their downgrade announcement. France isn’t the Droid youre looking for.
Bond market is closed today. We’ll see what they have to say Monday.
Then again I guess the European banks own most of the Italian debt, so might not be a huge factor….
Good move selling ERY yesterday – the top four holdings – XOM (25%), CVX (13.9), COP (6.61) and SLB (6.58)- make up almost 50% of that inverse ETF and they look pretty strong right now. I often wonder if folks who trades these inverses look at what they are shorting before they follow you. They must have stopped reading your disclaimer. I’d rather wait for the bond ETFs to collapse and hedge my longs that way instead of trying to short this market.
why LULU and BZU?
Energy is ignoring Europe. They are preparing for our holiday.
ERY will be fine after Turkey Day.
Position in ERY. Not a hedge.
My ‘Jerry Sandusky’ hard on is raging right now. Dip buyers step up
NOT FUCKING FUNNY asshole.
BANNED
I wish I could paste a chart here so I do not have to write this. There is a clear divergence between this rally from the low 10000’s up to this level of 12200’s. Volume and Stochastics are not following the move up. So I see a “BIG” sell off. One more warning sign is Italian Yields are rising again 6.75% as I write this
Trading Rule – Fade anyone who uses Stochastics !!!
I made a mistake yesterday, thought I’d nibble at GMCR when it went below 42. But I got an extra 0 in there for # of shares, so I wound up taking a major position. Now it’s a happy accident!
Michael Moe was just on CNBC. He did a nice job on the interview.
Michael Moe of GSVC
The bears are pretty quiet on SOH right now as I am always curious to their observations re: the market. SOH recently did post a chart on ERY and a TL that it had bounced off right around these levels at 11.28 which is where it’s trading again. It certainly looks like a no-brainer to buy right here, right now doesn’t it?
This is just a test …………..
Thank you
Endeavour Silver (EXK-Z or EDR on TSX) will scream higher. First class company.
It’s Veteran’s Day and so:
Eleanor Roosevelt’s Wartime Prayer
Dear Lord,
Lest I continue
My complacent way,
Help me to remember that somewhere,
Somehow out there
A man died for me today.
As long as there be war,
I then must
Ask and answer
Am I worth dying for?
Good luck with the rest of the day everyone.