OASIS FORUM Post by the Golden Rule. GoldTent Oasis is not responsible for content or accuracy of posts. DYODD.

DRB2@16:09 Here you go!

Posted by silverngold @ 23:20 on February 29, 2020  


Just Peachy

Posted by ipso facto @ 20:59 on February 29, 2020  

S.Korea Reports 376 New Coronavirus Cases; Washington Declares State Of Emergency After 1st US Virus Death: Live Updates


Manias are accidents in the making. And after an agonizing week, markets crave for emergency central bank stimulus

Posted by Richard640 @ 16:39 on February 29, 2020  

Credit Bubble Bulletin–Saturday, February 29, 2020

Weekly Commentary: Hair of the Dog

“U.S. Stocks Tumble 11% in Worst Week Since Crisis,” read the Friday evening Bloomberg headline. A Wall Street Journal caption asked the apt question: “U.S. Stocks Were at Records Last Week. What Happened?”

A Friday Bloomberg article (Lu Wang) is a reasonable place to start: “It’s a stat so shocking that it’s difficult to believe: In a century spanning the Great Depression and Financial Crisis, the current correction is the fastest ever. To understand how it happened, you need to recall how euphoric markets very recently were. Hard as it is to remember now, as recently as two Wednesdays ago, with coronavirus headlines everywhere, Apple Inc. was capping off a rally that had added $600 billion to its value in eight months. Lookalike runups in all manner of tech megacaps pushed valuations in the Nasdaq 100 to a two-decade high. In just three months, Tesla’s market cap shot from $40 billion to $170 billion, while a pack of dodgy microcaps, hawking space vacations and fuels cells, were trading hundreds of millions of shares a day.”

Manias are accidents in the making. And after an agonizing week, markets crave for emergency central bank stimulus – yet another rash morning shot of the “Hair of the Dog.”

“The fundamentals of the U.S. economy remain strong. However, the coronavirus poses evolving risks to economic activity. The Federal Reserve is closely monitoring developments and their implications for the economic outlook. We will use our tools and act as appropriate to support the economy.” Statement from Fed Chair Jay Powell, Friday, February 28, 2020


anyone remember the Kitco Down Blip 5-6 days ago?

Posted by drb2 @ 16:09 on February 29, 2020  

As I remember it was a MASSIVE down spike that lasted only a second, before normal trading continued.

I saw it, and someone else mentioned on the Forum, but I can’t dig it up.

Does anyone have a screen shot, or remember exactly what day it occurred?

R640 – Interesting thought

Posted by Buygold @ 15:19 on February 29, 2020  

“if the u.s. financial mkts melt down like in 2008 then Sanders can harangue about the failure of caltalism and win the election”

That’s a really good point. The Demonrats sure don’t seem to want Bernie as their candidate, hell even MSNBC and CNN attacks the guy. When I think of the Demonrats though, I think of Soros. Is Bernie a Soros boy? Because if Bernie is in Soros’ pocket, he’s got a much better chance of being elected than we may think. Soros could easily create problems in certain segments of the US markets, especially if he has Rothschild money behind him.

One thing I’m noticing lately, the MSM is calling Trump “Mr. President” a lot more in the press conferences. Maybe Trump has fallen in line….

Mr.Copper @ 10:50

Posted by Captain Hook @ 14:46 on February 29, 2020  

Very true.

The little guys are trying to get rich playing the leveraged derivatives, but they will only get poorer.



Posted by Richard640 @ 13:21 on February 29, 2020  

many of the dates and strikes say N/A—unless I chek the strikes in $5 increments==like $50-$55-$60 etc–then there are huge premiums and huge spreads with small bid/ask volume and small o.i….screw it, I’ll stick to VXX…or just buy call options on individual PM stocks

The March 6th JNUG $60 call–that’s $14.50 out of the money is $1.68 bid $3.05 ask….OK, I get it, JNUG had a $22 range on Friday…but thats a weekly option…the $55 call is $3/$3.60 with an open interest of 30

Gold Imports

Posted by Mr.Copper @ 11:30 on February 29, 2020  



Posted by Richard640 @ 11:28 on February 29, 2020  
To: #Breeze who wrote (132790) 2/29/2020 10:38:18 AM
From: da_cheif™    of 132796
dows 12 hour rsi bottomed on the 25th….5day rsi at 3 and tite with its half span ma….monday march 2nd will and shud be historic on the upside…3 gap play is apparent …es went out at a 35 handle premium over cash and from wollie world

Category: General Interest
From:  joanne (joanne mcable)
Date Posted: February 28, 2020 at 20:43:22
Subject: leap year botspot ~

This spike is almost a match to the December 2018 spike low ~Will I have to change my lower parameter?

I have an extra leap year day to find out……..g!


  Read Replies (1)  of 132796
Dow Global Index with red lines

Virus Supply Chain Problems, Does the USA import Gold? Don’t be surprised if a gold shortage rebound

Posted by Mr.Copper @ 11:24 on February 29, 2020  

Buygold–When I think about what’s at stake=capitalism itself–the more I am convinced that the FED steps in and buys

Posted by Richard640 @ 11:22 on February 29, 2020  

EVERYTHING that needs buying…even going to zero rates…if the u.s. financial mkts melt down like in 2008 then Sanders can harangue about the failure of caltalism and win the election

R640 – Wollie

Posted by Buygold @ 10:57 on February 29, 2020  

I’d like to know why he thinks so, but Trump sort of alluded Friday afternoon that the Fed would be stepping in this weekend. The Diamonds (DIA) have an RSI of 17.

Wollie’s probably right. Fed steps in. DOW rallies 2K points.

Re Click Out Gold re betting on the price, not actual buyers or sellers

Posted by Mr.Copper @ 10:50 on February 29, 2020  

Naturally on the futures market 90% phantom contracts, what about the GLD warehouse and the managers?

Allegedly full of physical. So if all the GLD holders sell their position, the manager is supposed to sell the physical to pay the sellers, right?

Now, the $64 question. Do they sell it out real fast and cheap? To pay the imaginary click off sellers? And who bout it all cheap???

Goldman Sachs? Fort Knox? Some big Chinese Bank? Only 100,000 share GLD owners can take deliveries I believe. A nice cushy set up for Banks and Gov’ts.

Taking advantage of all the little people that finance the purchase of the physical for the big people to harvest the physical gold.

@Captain Hook?



Posted by Richard640 @ 10:42 on February 29, 2020  
10 day offsets on the pp already to go on the other only a 1 to over come…monday could be hewj


Posted by Buygold @ 10:22 on February 29, 2020  

yeah oil is being priced as if world commerce is going to be coming to a complete halt. Actually on a % basis was down more than gold yesterday.

Looks like a nasty bout of deflation is on the way, except for maybe food stuffs depending on how bad this virus thing gets?

Ten Yr. closed at 1.13% – Fed might as well cut 50 BPS on Monday. The market has did it for them last week anyway.

Buygold–yes they are pricey and that is why I totally ignored PMs for so long and

Posted by Richard640 @ 10:14 on February 29, 2020  

concentrated on VXX…the oil sector is another area with great opportunities for the nimble option trader…that gosh-dang GUSH I was trading was $42 then had a 10 for one split–it’s 8.70 now or just 87 cents pre-split



R640 tough call

Posted by Buygold @ 9:53 on February 29, 2020  

JNUG got as low as $42.50 closed @ $46.74

HUI got as low as 205.60 closed @ 215.54

No doubt the shares were out in front of the drop in the metals, I guess the question is whether they will bottom before the metals. Somehow I doubt the selling in the metals is over. best we could hope for is a spike down Monday followed by a reversal.

I imagine those JNUG options are pretty pricey given the volatility.

Buygold–JNUG obliges me to start taking stabs on the long side-similar to what I did with my VXX–gold is reaching an extreme

Posted by Richard640 @ 9:09 on February 29, 2020  

and if the stock mkt starts to go into a 2008-9 scenario then other sectors may blow up-like corporate junk bonds [the fracking sector]…and a few dozen more areas too numerous to mention

Look at this weekly JNUG chart [below] and see when the RSI was as low as it was yesterday…about 29…back then JNUG was 30-35–Friday it was 46.74

Remember JNUG wa down to just under 6 bucks and had a 5 or 1 split…so really JNUG is $9.32…just $3.32 off the 6 buck low YET gold is near 1600

JNUG’s 7th split took place on June 28, 2019. This was a 1 for 5 reverse split, meaning for each 5 shares of JNUG owned pre-split, the shareholder now owned 1 share. For example, a 50 share position pre-split, became a 10 share position following the split.


New Poll New Poll

Posted by ipso facto @ 8:40 on February 29, 2020  

I have sold PM shares within the past few days 2/29

I’ll believe it when I see it. No matter what it’ll be chaos there after we go.

Posted by ipso facto @ 8:15 on February 29, 2020  

U.S.-Taliban set to sign troop withdrawal deal as Pompeo lands in Doha


Morning R640

Posted by Buygold @ 7:45 on February 29, 2020  

Yeah, even China didn’t dare to publish a bunch of bullshit numbers after the amount of market carnage in the last week.

SM futures Sunday night are going to be horrendous.

The only hope for the SM might be a stick save/rate cut/whatever from the Fed, but I kind of agree with Maddog, it won’t help gold, at least initially, because gold can’t be seen a safe.

Despite Bloomberg and their lies, I hope this is not like 2013, cause we’d have a long way to go the downside if so.

I rest my case

Posted by Richard640 @ 7:06 on February 29, 2020  

China Reports Catastrophic Data: PMIs Crash To Record Low, Confirming Coronavirus Collapse

Not even in the depths of the global financial crisis did China suffer such a spectacular collapse.

Here is the big lie as per Bloomberg

Posted by Richard640 @ 7:00 on February 29, 2020  

Gold is said to have been sold to cover margin calls in other assets

Gold Joins the Virus Selloff With Its Biggest Slide Since 2013
By Justina Vasquez and Ranjeetha Pakiam
Bloomberg News
Friday, February 28, 2020
It is an odd moment for gold to be tumbling. One of the oldest and most trusted safe havens in times of crises, gold typically rallies amid nasty stock selloffs like the one that has gripped the world this week.
So its plunge Friday — it fell as much as 5%, the most in almost seven years — caught many traders flat-footed and scrambling for explanations as to what had just happened. The most often heard of them: Gold investors dont want to sell but are forced to cover the losses in other asset classes.
“Its bloodshed,” Commerzbank AG analyst Carsten Fritsch said by phone. “It started with forced selling from equity investors who also sold their gold positions to cover their losses in equities and also to cover margin calls. Gold investors don’t want to sell but are forced to cover the losses in other asset classes.” …

… For the remainder of the report:

China PMI at 35…worst ever ?

Posted by Richard640 @ 6:46 on February 29, 2020  

I am surprised they were honest…well that removes one hope for the u.s. stock mkt bulls…next hope is the FED issues some supportive statement but Powell already did that during Fridays session…the only thing they could do is an emergency 50bps rate cut and that could backfire…maybe even cause gold to be up $100 as zero bound rates start to be discussed as a possibility…already 4 rate cuts have been priced into Fed funds rate futures..

The idea that investors are selling G&S shares to “get liquid” was nothing more than Wall St. contrived “dialogue” to serve as an alibi or cover for supressing gold during  a time of crisis…THERE! YES, I’VE SAID IT…

That idea is absurd…first of all the Mom & Pop gold bug investors almost never sell…besides, they do not use margin…as for the big money managers running 500 mill or 5-10-50 bill…or a Blackrock with a “Trill” [chuckle!]…their PM holdings are minimal…and what they do have they freely admit they only have it for a hedge…so G&S would be the last thing they’d sell…they have so muck other overvalued and profit laden merchandise to sell if they needed to get liquid…so that leaves just “the usual suspects” as sellers…until they get overwhelmed and gold reverses up again…
Remember…just now…as stocks went to extreme overvaluation…we heard all the time that “stocks will keep going up as long as it only takes a few keystrokes by the FED…the market is bullet proof” [repos as just one example]….well, where were the keystrokes this week? I can only guess that at some point the FED ceases to be all powerful and gets overwhelmed…

POLL-China’s Feb factory PMI seen at lowest since 2009 as coronavirus slams production

BEIJING, Feb 28 (Reuters) – Activity in China’s vast manufacturing sector likely shrank at the fastest pace since the global financial crisis in February as the coronavirus suspended large movements of goods and people in most parts of the country.

China’s official manufacturing Purchasing Manager’s Index (PMI) is forecast to fall sharply to 46 – a level not seen since January 2009 – from 50 a month earlier, according to the median forecast of 25 economists polled by Reuters. The neutral 50-point mark separates monthly growth from contraction.

The gloomy readings highlight the colossal economic damage to the world’s second-largest economy from the coronavirus that has killed almost 3,000 people in mainland China and forced draconian travel restrictions and quarantine rules.

Nomura expects first-quarter growth to be at 2.0% year-on-year while Capital Economics estimates China’s economy would contract outright in year-on-year terms this quarter, for the first time since at least the 1990s.

Gold Train

Posted by Maya @ 0:41 on February 29, 2020  


The end of a TransCon trip


Go to Top

Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.