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What’s the next step though … very complicated situation. How many countries have troops in Syria now?
Maya
No, 4014 was parked in West Chicago, Illinois for the weekend ( it’s about 30 miles Due west of downtown Chicago). There’s a Union Pacific training center there, and the village threw a big party to celebrate Big Boy’s stay.
Buygold–I think. this is why G&S. have been up going into these reports
Good article=makes the case for. a. 50bp cut
The first one framed by Morgan Stanley, which is confident the Fed will cut 50bps tomorrow, is that while domestic US economic data has posted a substantial improvement in recent weeks, the Fed – which now sees itself as the world’s central bank – is less concerned about current coincident US economic data and more concerned about the leading indicators and future coincident US economic data. The Fed points to global growth, trade uncertainty, and manufacturing weakness to justify its concerns. So, given the claims that US data has been so good, Morgan Stanley compared the current state of affairs in…
ipso facto
Re Israeli F 35
I seem to remember that an F35 can hit tgts 30 or 40 miles away from 50,000 ft….or something like that….humans have no idea where it is and a lot of radar is no better.
R6 re: Murph and traumatized
unfortunately, that would be my bet too. I’m wrong a lot but everything is pretty tentative. The knee jerk might be gold higher and then when Powell starts his press conference they come in for the kill and extend it into the jobs report.
Hopefully we’re wrong
From Murph tonigh–this shows how traumatized traders still are by the 8 yr bear mkt. in gold
[I think gold will breeze thru the rate cut asnd the jobs report and end Friday in new high ground-I will ignore the rsi’s and COTs for now]
The obvious bullish set up, with a rate cut confirmation that would probably indicate several more to come and the peak of the tightening cycle, suggests that the metals should do very well going forward. But I am in your camp on this one, and history tells us that the Cartel never lets an obvious bullish move play out.
My gut is telling me to brace for a nasty surprise slam on the metals, and then with NFP on deck right after, a follow through to end the week. Yeah, I know all the bullish reasons why gold and silver should both rocket higher. But the paper metal is unrestrained and will dictate the short term. We get a slam first and then a rapid rebound after, to new highs for this cycle into the fall.
If I am correct that a few of the shorts are running for cover the last few days, that is just one more reason why the Cartel would act decisively here. The prospect of a limited short squeeze is too dangerous with implications to enable a full mania to develop. I would love to see this happen, but I do not see the Cartel losing control now, with the threat of a rate cut clearly communicated to the market.
I suspect the inventory of bullion is running thin and that may be the silver lining that prevents a severe selloff if the crooks roll out the bazooka. A sharp contraction in the open interest and a rapid rebound after a slam is probably how this week plays out from here. Of course, from a technical perspective, if the metals tag support and bounce, plus the constructive action of a few days of consolidation, it should build an even more bullish case for the fall.
I have some stink bids open for a few bargains if I can get them. I would love to see a melt up develop but I am looking for a nasty move lower to end the month and then hopefully we get some room to run.
Cheers!
MM
To repeat:
Seasonality supports rising gold prices until end of September.
Data by
An escalation
Mystery Airstrikes On Iraqi Camp Were Israeli Stealth Jets In “Anti-Iran” Escalation
Regional experts had immediately suspected the possibility of an Israeli air raid after a pro-Iranian militia arms depot in Iraq was obliterated during a mysterious attack on July 19, and another reported follow-up attack this past Sunday.
The attack happened around 80 km from the Iranian border and 40 km north-east of Baghdad at Camp Ashraf, former home to the Iranian exile group Mojahedin-e Khalq, but now reportedly in the hands of Iranian intelligence and paramilitaries.
Speculation was rampant in the days that followed as to the source of the ‘mysterious’ air strikes – or what was also initially reported as a drone strike – however, some pointed the finger at an American operation targeting Iranian militants inside Iraq.
But now Israeli and regional media, citing western diplomats, have confirmed it was a nearly unprecedented Israeli operation on Iraqi soil — representing a major escalation and expansion of Israel’s anti-Iran operations.
Israel reportedly launched a total of two separate air strike operations on the camp using its US-supplied F-35 stealth fighter jets.
crude oil
getting quite a pop. did somebody fart in the straits of hormuz?? i don’t see anything in the news.
Buygold
The shares are notr being helped by NEM being clubbed all day….but so early in the run, it should not be surprising that we have near zero interest in the sector.
If I’m right about the Chinese buying, then we will not see them in the miners, they want metal to put under the bed and the action so far looks very like the Dealers have large physical buying to do, all day…note how the mkt rallies into the closes, as dealers have to pay up.
deer79 @ 7:32 – Big Boy
“Big Boy parked by my house this past weekend.”
Minnesota or Wisconsin?? I grew up in Eau Claire a century ago. Some shots of UP 4014 at Altoona. The photographer, Bill Edgar, grew up in Eau Claire and has some old photos of the CNW at Eau Claire circa 1970 when he was in college. He lives out in Washington state now.
https://railpictures.net/photo/705229/
https://railpictures.net/photo/705230/
https://railpictures.net/photo/705231/
I like that:
1–that. silver is waking up & joining the party
2–that gold is up while stocks are down
3–that G&S are. up before two big reports–I see NO problem with. this
4–that G&S are up today on no. news and no event
5–that the $30K of AUY October $2.50 call options–600 of em– I bought last Thursday are up $10.000 net just today
[no one joined in on the 5 buck NGD options I bought in May and sold for 60…did anyone pick up any AUY options?]
Buygold
Got me fingers crossed!
Will it be caviar or cat food in my retirement?
Ipso
Metals popping a little like they did yesterday afternoon. Maybe they’ll drag the shares up a bit into the close.
media follies…
NOT JUST LEADERSHIP, BUT SHOWMANSHIP TOO !!
the finest in political theater
Buygold @ 11:22
Yer right my friend. PM shares decidedly dragging behind the metals today … so far anyways.
I want my cake and I want it now!
How the F do they go around and sell an entire sector?? Do we ever see most of the semis down when the semi indexes are up?
If I ever catch the guy who’s screwing with the PM stocks, I’ll knock his block off!
Look at the HUI today
https://finance.yahoo.com/quote/%5EHUI?ltr=1
Look at AEM
Look at NEM
Look at ABX
Batten down the hatches!
Major Solar Storm To Strike Earth This Week As “Black Supermoon” Looms
Authored by Michael Snyder via The End of The American Dream blog,
An absolutely massive hole has formed in the upper atmosphere of the Sun, and our planet will align with that hole later this week. Once the alignment happens, Earth will be bombarded by a “solar storm”, and nobody is quite sure yet how bad it will be. If the storm is relatively minor, we could just experience a few disruptions to satellite communications and see some pretty lights in the sky.
https://www.zerohedge.com/news/2019-07-29/major-solar-storm-strike-earth-week-black-supermoon-looms
Would like to see the shares
pick up the pace a little bit, sort of a lackluster performance, although the metals aren’t really knocking the cover off the ball either.
Maddog @ 9:52
That’s some outrageous shi#! I sure prefer not to deal at all with folks like that! If their word’s no good then they are worthless.