Loading ...Yeah I think I’ll buy some more AAPL and AMZN today before I take an early out and chopper to my pad in the Hamptons.
I wonder how many billions it took to get this result?
Shares have been indicating all morning that something was coming, so they took gold own what, $40 of the highs in a matter of minutes?
Now gold has regained half that back because there are so many shorts to cover, what else can they do?
Silver of course is the weak sister as usual.
They’re trying to bring the USD and SM back, but what happens to gold if they fail?
Maddog–WTF? THIS SHOWS THE 30 YR BOND UP 5 HANDLES? Must be an arror
The 10 yr note is up 1 7/64ths….even that is a lot…so no one is selling treasuries causa this bounce
FYI
FLASH–TRANNIES ABOUT 240 PTS OFF THE LOW if this data is correct–this could be a diagnostic clue that some kind of bottom is in…they were flashing red before this correction started–so maybe they’ll lead it up
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YESTERDAY Was listening to CNBC a few minutes ago and Najarian said the highest put/call numbers since the Dec 24 2018 low
ipso facto @ 10:02
Ya but look at the bounce in stocks off the bottom. Everything is just fine. Your head is on backwards because you don’t live in New Jerk or Washington with the assholes.
Chuckle
Really spanking the shares
Kind of surprising given the solid performance yesterday.
Maybe they’re indicating that gold is about to get smacked?
edit: 10 yr. @ .71% Unbelievable
Might have to start looking at mortgage rates…
OJ Simpson on Tweeter
Coronavirus? Who’s afraid?
Richard640 @ 8:52
“China is not lying about anything, everyone else is.”
LOL
Maddog
I think we’re going thru $1689 plus some today. USD is getting absolutely crushed.
The stock and bond markets are turning into a full blown panic.
Maybe I’m too optimistic, but the scum hasn’t been able to panic the pm markets or save the stock market.
I’ve thought for years that they could paper over any problem, I’m just not sure why they aren’t able to do it right now.
If we take out recent lows on SM then stand back
as the rally just loaded R640’s slingshot.
Buygold
I too agree with Grundlach, tks for pointing him out.
1689 is now Golds next hurdle…..if we go thru easy…then this could really run.
Maddog
We’ve always said that pm’s are the single most important asset in the world – hence the need to keep them suppressed and keep them from indicating that anything could be wrong with the worlds’ fiat system. They have to hold that confidence together.
For some reason, I’m not worried about how pm’s will perform today, other than maybe silver which is beyond my understanding.
Deflation is hitting in a massive way. Look at the price of oil, $43.77. That will wipe out most, if not all, of our domestic production. I don’t think even the Saudi’s do that well there. Putin is the wild card I suppose. Maybe he can figure out a way to barter for his oil.
I’m with Gundlach. One of the few guys I trust on Wall Street, although I think he’s wrong about the 10 year, I think it goes to zero.
“Gold Is Going A Lot Higher” – DoubleLine’s Gundlach Warns Of “Seizure In The Corporate Bond Market”
“We Have Never Seen This Before”: The Last Time The Market Did This, FDR Confiscated All The Gold
And here is the stunning punchline: out of the five historical instances of this pattern (leaving out the present case for obvious reasons), Nomura finds that the only instance that was followed by a sustained market rally was that of April 1933, when the US abandoned the gold standard in the midst of the Great Depression.
Which makes sense: with stocks in freefall for years after the Great Depression started, what some argue stopped the collapse, was the signing of Executive Order 6102 by FDR, which not only ended the gold standard, but also confiscated all gold held by the public, and finally devalued the dollar against gold (Roosevelt changed the statutory price of gold from $20.67 to $35 per ounce, thereby devaluing the U.S. dollar by 40%). Such a historic fiat devaluation against gold was, to many historians, the necessary condition that finally let stocks find a bottom during the great depression, and started the long and painful recovery… the culminated with World War II.
Of course, conditions now are vastly different than they were at the time of each of the five prior instances, with the dollar long ago losing its convertibility into gold (thank Nixon for that) – yet while it would be next to impossible to confiscate gold, a massive dollar devaluation against the yellow metal may be just what the Fed is planning next (as Harley Bassman suggested in 2016) – so Nomura’s dissection of these market patterns is intended only as something that may be of interest from a technical standpoint. That said, this look back at 120 years of market history may be helpful to market observers attempting to assess the sustainability of the rally in US equities…
Meanwhile, on China, its already past. Yes, that part is absolutely true. No new cases in my province=that’s pretty much the story all over China’s other 21 provinces
From Rick Ackermans’ good friend based in China
Meanwhile, on China, its already past. Yes, that part is absolutely true. No new cases in my province (I’m in Shenyang, Liaoning, my darling wifey’s hometown) for over two weeks, then just a few days ago, 3 cases in an isolated town. That’s it and that’s pretty much the story all over China’s other 21 provinces, really, except the epicenter Wuhan which needs more time. China is not lying about anything, everyone else is. Please regard this note Rich as a service to you and your readers. Best, Mario. Oh, yea well on whether I’m obviously a paid China propagandist, yea of course, and I’m working with Mifsud who sent the information through Putin via Burisma and then back through the DNC who actually pays me cuz I’m a board member of, um., whatever ? Seriously, I know what I’m talking about, please watch the vid updates, take care.
I received the scary note below from Mario Cavolo, who used to post regularly on my site. He is an American expatriate who has lived and worked in China for more than 25 years. His business is helping U.S. and Chinese businesses do business with each other. Mario is an aggressive and imaginative entrepreneur who brings the two sides together in any way he can – through trade shows he produces, Chamber of Commerce meetings, formal and informal discussions, etcetera.
His perspective on life in China was always fascinating to me, and I came to value and trust his observations over the years we corresponded. We once hatched a scheme together to save Atlantic City from casinos by bringing a Chinese tycoon to the Inlet. The idea was to redevelop that end of town with a Gay 90s theme.
Here’s what Mario has to say about coronavirus and its potential impact:
Rick! John Jay! I’ve missed you guys all these years but never lost the fond memories of that couple of years running articles and commentary here. Lovely memories gents! And since then, in fact just a few short weeks ago, I became China’s most famous foreign panda hugging CPC bootlicker in the country. Yea, seriously. An article I posted on LinkedIn, the God’s decided apparently, went viral, its now at 1.9 MILLION views and I’m now China’s foreign face national hero for saying nice things about China. Nice, right? Well, not in light of the virus outbreak which is what I would like you guys to know. Please DO pop over to my facebook or youtube to watch the last 3-4 video updates I’ve done on this nasty virus. It is indeed, nasty and trust me I’ve been as sharp as ever tracking what’s going on, the most likely scenario is a 2020 Global Reset, finally here after all these years of expecting it. You can expect global economic devastation as all the biz/show/travel cancellations are already clearly indicating and this situation globally hasn’t even gotten started yet.
Meanwhile, on China, its already past. Yes, that part is absolutely true. No new cases in my province
Buygold
Only PM’s are being hit…dollar barely budged….they really are terrified of PM’s breaking free.
What’s v scary is they still can’t vary the play book.
Morning Maddog
Glad to have some company here this am.
You’re probably right, scum is going to fight the double top if they can manage to avoid the persistent buyer – whoever that is. I still have no idea what they’re going to do with those half million short contracts if the COT’s are to be believed.
You know, with the recent strength in gold, I’d think our little site would attract more visitors. Maybe it’s a good thing it hasn’t yet.
The jobs report was a huge beat and was obviously leaked as gold dumped $12 a minute before.
Looks like a “normal” jobs report beat down for the metals so far. We’ll see if the shorts use this as an opportunity to cover or if they can create a waterfall. Silver of course getting hit hardest because it’s always the weak sister, but the pm shares don’t seem to be all that worried.
I’m betting another 1K plus down day for the DOW.
Heavy Volume in everything pm’s in the premarket
Especially in the smaller cap shares. Not sure if that’s good or bad but money has definitely decided to flow even into some of the silver shares premarket, pushing them higher.
AXU sticking out right now. About time though because it’s been beaten senseless. Even AG getting pushed up 3%.
Crimex set to open, so we’ll see what happens once they get started.
Morning Buygold
Panic trading in Bonds earlier and the SM…but Bonds really fell apart.
Now we have potential double top in Gold at 1689…..no selling ystdy on No’s …but will they be absent today …very doubtful.
$1700 today?
Do we have a legitimate chance, even on a jobs report Friday?
Everything in the markets say all systems go for pm’s – except the scum – course what they do is always the wildcard.
COT Report should be interesting today after last weeks craziness that spilled into Mon.-Tues.
Not sure what the odds would have been that a flu pandemic would be the catalyst to bring the financial system to it’s knees. I guess I would’ve bet on a big bank blow up or a big war or something else.
UPDATE: 10 YR. @ .73% Craziness
R640 – Holy Crap
Crashing is right! 10 Yr. @ .77% – Dollar getting smashed too!
Ya gotta be kidding me.
Things seem to be unraveling rather quickly.
Amals – ASAP deterioration
You piqued my curiosity. I found my open bottle of ASAP10 and was shocked to find the expiration date was 2014 ! Still has the mild golden color and tastes normal. I rarely use it for nasal and throat spray “as needed”. Curious… I dug into my lab gear and got my TDS meter out. (Total Dissolved Solids). This little electronic wand probe gives a direct readout of 06 ppm on my silver sol…. six years after expiration. So it still has 60% of it’s original 10ppm strength. It still works fine… but you can use a little more as it ages.
DISCLAIMER: This measurement was made on ASAP10 silver solution. It will likely NOT apply to other brands or types of silver solution.