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OG's Quick Chat # 116 - 11/7/2010 193 comments
List of stocks mentioned in QC # 115:
(AGQ), (ALEX), (ATPG), (CPST), (DXY), (FEED), (FRMSF.PK), (GDXJ), (GPRLF.PK), (IMGN), (LPH), (NVAX), (PAL), (PLG), (PSLV), (SLV), (SVM), (TLT), (TNK), (TOO), (VIVO), (VIX), (XIDE)
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This post has 193 comments:
For those of us breathlessly awaiting the results indicating success of Mr. Brenanke's QE and QE2 plans for revitalization of our economy, possibly indicated by achieving his target inflation rate of ~2%/annum, I am happy to report that Donald Ingram has posted the results which show that Mr. Bernanke has not only achieved his goals, but succeeded beyond all expectations!
It's a short read, and I suggest everyone follow the link!
seekingalpha.com/autho...
My congratulations to the Fed chairman in his resounding success!
The middle class would certainly applaud him, if we had a middle class any more, and the poorer of us will certainly thank him for the jobs and menial-wage incomes that will certainly follow shortly, if we don't first starve to death and if we don't need to drive to our place of employment (but with a fast-food restaurant on almost every corner, this should not be a problem).
HardToLove
www.youtube.com/watch?...
ACE
However, the response to foreign countries to our profligate ways may halt the bubble growth before it has time to fully form. I think we have to just wait and see on that front.
Further, we have a new congress that should tend to be more "conservative" (whatever that might mean today) coming in January. That may have a big influence on how this progresses. Again, we'll have to wait and see, IMO.
A quick review of some of the comments in the prior QC might give you a basis for forming an opinion.
In all honesty, I think all this is like turning a modern aircraft carrier - it takes a *looooonnnnggg* time due to size, mass and inertia. So patience may be required to form an estimate, based on how the "play" unfolds.
G20 coming up again, IMF has reconstituted its voting structure to replace several developed voters with emerging voters, countries starting already to apply "currency controls" to restrict inflationary inflows, and *talking* about doing it, ...
MHO
HardToLove
en.wikipedia.org/wiki/...
The timing of the events are not something that anyone can predict. It could be happening right now. Nov 4th inflation prices were incredible in just one day or it could take a longer period of time with high levels of inflation. We also have the right and left getting really involved in politics in this country now too. History repeating?
Spending has to get undercontrol or else. See the chart in this blog.
seekingalpha.com/insta...
Buy some silver coins or bars for home storage to have hard assets on hand. Compare prices to those at MONEX but buy where ever you want. I would stay away from the PSLV for the same reasons as SLV. If your in the silver for the money, not the insurance, consider miners SIL, or paper silver like AGQ that is a double ETF but there are many options . Follow along on the blogs here and you will get a great education from the renegades. Remember one thing keep some physical on hand as insurance from God knows what. Some gold coin for insurance is better because you can carry a lot of value in a small package and hit the road. Blog below talks about silver coin.
seekingalpha.com/insta...
The cost increases that Mark mentioned in the first comment here are getting very serious. I put some humor to it in this blog but that is a very serious threat to us and there are many articles starting to cover it.
seekingalpha.com/user/...
ACE
Appx. how much dollar wise do you suggest having on hand. As of now i own 100 oz bars, 10 oz bars, 5 oz bars, and 1 oz rounds....
I am guessing you are suggesting owning smaller quantity . Just curious about the safe and the amount ...on hand...
ACE
That would be your insurance metals. Next it is an investment to keep your dollar (falling like crazy) from killing you. It falls and your metals investment goes up to offset the loss of purchasing power of your dollar. I like silver for this. That can be in individual stocks, miner etf, large bars held in vault for you like MONEX. Have them shipped to you if suddenly there is a "problem" in the market.
The big problem is the govt can come and take anything from you if they want. Including your 401K, gold/silver on account etc......That is why you have insurance in physical metals in possesion at all times.
Yes I know that I sound "crazy" but you are responsible for you and your family so you have to decide what protections you want for your family.
The govt can not protect you (think Katrina and imagine many thousands of times more people in sudden need) so the government must be considered a "wild card" in the situation that we are presently in and if it gets worse they will do WHATEVER they deem necessary to ensure the survival of the "SYSTEM" that has evolved. I feel we are presently safe but getting less safe with each "event" that continues to send us down the road to financail disaster.
Don't keep all in the home safe either. What happens if you get an intruder that makes you open the safe.
These are layers of protection that I think if nothing goes wrong do not hurt you but if things go really bad they can protect you. I do not expect things to get this bad but I prepare for the worst possible situation and go from there.
Having some way to protect what is yours (firearms/big dogs/tazer/escape plan etc...) must be part of the plan.
"Economic Recovery? Food Stamp Program Tells Another Tale"
I'm speechless!
seekingalpha.com/artic...
HardToLove
Just read the article you suggested and with inflation so high when does it filter down to the markets??? Will oil be effected by this as well??
ACE
If the US dollar continues to slide it will make U.S. products less costly overseas, but just how far will that take us when our manufacturing base accounts for less than 20% of the economy?
Well, it will take a while for the talking heads to see it coming (most likely they will report it after it is here). If they say it is here already, they are probably wrong. After all, they didn't see the banking crisis or the housing crisis. Inflation is already upon us, but they haven't reported that. Since we import most of what we buy, when the US$ drops in value relative to foreign currencies everything costs more here. But our government has figured out how to calculate inflation in a way that doesn't really count most of what is being inflated. They do not feel our pain. They even tell us that we are only imagining the pain because inflation doesn't exist.
Well, it will all come to a head at some point near or far in the future. I suspect it will be sometime this year or next, but I really can't get any more accurate than that at this point. But I do believe that there will be tell tail signs, that some of our little Renegade network will notice those signs and report them. Until then, I will continue to invest in the bull cautiously, picking up nickels in front of the steam roller (DM made that up and I just love the visual it imparts). Just stay tuned and report what you see, as the rest of us try to do, and we'll be way better off than the lemmings.
This perfectly reflects what I expect when QExx ends and the Fed must start "running a tight ship".
Noted in this article "Ultimate Measure of QE Success? Look to the Long Bond, Not the S&P 500" here
seekingalpha.com/artic...
HardToLove
Says at least a couple of quarters before anything can improve. Bad for tankers too and as futures contract must be rolled over shortly, we will see a small price drop from current elevated levels.
seekingalpha.com/artic...
HardToLove
It is the drop in the dollar value that is causing the price spike I believe and if the dollar contiues to drop the price can continue up inversely. As the dollar approachs zero value the inventory can go through the roof and price will still go up.
Found the article..
seekingalpha.com/artic...
I believe the oil price can not drop very much for two reasons. The dropping dollar provides support for all dollar-priced commodities and many are probably using oil as a hedge against that dollar. Hence the futures contracts will have a lot of the financial players in there and that will support oil too.
As periodic contract expirations and roll forward occurs, there will/may be small and temporary pullbacks.
But without real demand, I think the degree in rise of oil may be limited to just what is appropriate for the level of dollar debasement that occurs.
If and when demand comes back, then oil will skyrocket as it will have both factors, dollar debasement and demand, supplying upward pressure.
But as you can guess from the articles I've found, I tend to think that real demand return is a long way out.
This is supported somewhat by this line from the article you linked.
"Gasoline inventories, on the other hand were down 4.387million barrels versus expectations for a build of 625 thousand barrels."
What this tells me is that refineries are running at lowered capacity, probably in expectations of continued weak demand, and that is reducing the consumption of crude.
With unemployment where it is, I expect the longer trend continues in this fashion, with periodic refinery increases as gasoline stockpiles get sufficiently depleted and a pricing opportunity for the refineries appears. Then we'll see large, temporary crude drawdowns for a bit, everyone will get all excited, ... well you know how it will go. Anyway, then refineries will be partially idled again as the gasoline and distillates inventories build and price drops. naturally, crude stockpiles will go up, everyone will get all excited ... again
Rinse, repeat.
But with both industrial and consumer consumption on a long-term flat or maybe down path, most oil price change up should be predominately dollar-induced.
MHO,
HardToLove
Did you see this one?
www.ft.com/cms/s/0/eda...
Wonder if they can contain that price increase to JUST gold and silver.
www.americanthinker.co...
Couldn't have happened to a nicer moron.
seekingalpha.com/autho...
Donald Ingram wrote:
Some recent FACTS on inflation. "The Real Cost of Living."
These are year over year price changes for;
Wheat - up 74%
Corn - up 14%
Oats - up 68%
Canola - up 36%
Heating Oil - up 29%
Gasoline - up 25%
Natural Gas - up 15%
Beef - up 18%
Pork - up 60%
Coffee - up 27%
Sugar - up 44%
Cotton - up 66%
Copper - up 37%
Gold - up 31%
Silver - up 36%
From the above stats, I would say inflation is here with a vengeance! Wouldn't you? This is pure currency induced cost push inflation. Now with QE II a fact, this effect will get worse. Of course the government doesn't count food or energy in the CPI - now, isn't that convenient! Lots of people will be going cold and hungry this Winter. Thanks Benny!
Those long sexy legs keep marching. The drums keep pounding!!!
www.youtube.com/watch?...
www.youtube.com/watch?...
In regards to silver...all PM storage, I would advise storing such sums in a lock box, in more than one bank, and, if possible in more than one state. This is important...learn if your state has the authority to "lock down" your lock box, upon demise. No fun thinking of this, but...it simply has to be a known factor with your possesions.
A minerals site you may want to take a gander is miningnerds.com
Right now, the fastest rising silver producer I track (above the pennies) is Silver Corp (SVM).
I'm going to have to pass on Silver Wheaton right now. It's come a long, long way, and could and should continue to rise. I'm just not quite so sure of their upside from here, when compared to other silver miners, given that they *largely* depend upon hedged contracts, ie., monies given to silver miners for a hedged price, which, if silver continues to rise, should dry up.
There was considerable talk when the Silver ETFs got popular that they would put an end to pm companies like SLW and the various gold-emphasis versions, but that did not happen.
SLW's leadership in this area COULD be affected by direct competition from other companies with the same business model, but that is of course the capitalist way. I am frankly surprised that some of the gold factors that have talked about going head to head with SLW have not really done much, whereas SLW now gets about as much of their income from "equivalent ounces" paid in gold vs silver. Eventually the competition will ramp up to speed, but they haven't done it yet, and SLW's lead is pretty large at this point.
The REAL threat to the entire venture capital system is, as usual, the great power which lies outside the capitalist system: government. Should the fascist/socialist Federal government (or enough of the Central/South American governments, plus So. Afrika and Australia) decide to start financing risky endeavors like mines directly, they would certainly displace all competition (assuming they didn't just pass laws outlawing competition, which is of course the preferred method).
buying CAVO today.
The Vietnam ETF, VNM, looks to be breaking to the upside.
with sugar where it is, will be tripling up on NXTH
Reporting and cc tomorrow 13:45 PST, 16:45 EST.
Ipdrive @ Investor Village posted "Wrightspeed raises $5M for Capstone based powertrain", which uses CPST. He provides several links there. A summary is that "... technology will displace at least 3,000 gallons of fuel per year per high-usage vehicle,” said founder and CEO, Ian Wright" and the funding is from a private investor and his system is initially for class 4-6 trucks. He has a "Digital Drive System" (DDS) that manages all the stuff.
www.investorvillage.co...
I had previously watched some videos of his sports car that uses the DDS system. I can't recall posting them here, so here's a few links.
Company site: www.wrightspeed.com/
Some cool videos (vs. Ferrari and Lamborghini and Nascar) and some other videos:
www.google.com/search?...
This last is an uncertain one. Based on Dallas Fed President Richard Fisher's Comments in a recent speech, problems in AR/AP (aka DSO) for most in the supply chains here have dissipated. If this applies to CPST as well, they *may* have a CFP (Cash Flow Positive) in their report tomorrow. If so, a nice bump should result for pps. Shorts still extremely long, as of lst report, at 11.3% of float. So there's some possibility there too if a positive report is received.
To wrap it all up, we now have competing HEV drive configurations for trucks using CPST and two different electric motor vendors (Parker-Hannefin and UMG), two different electronic control systems, multiple classes of trucks being targeted, a demo class 8 already operational, passenger vehicles in play in various early stages, ... and more.
I'm again optimistic on pps, but now both short and longer term.
Oh! And GE is now a supplier to CPST since they bought out certain assets and obligations of Calnetix, which CPST had already bought part of and had secured supply obligations from Calnetix for three years and the IP rights for certain things and *exclusive* distribution rights for smaller applications.
And there's been some hiring going on too.
Disclosure: llllooooonnnnngggg CPST
HardToLove
I still don't have a grip on what sort of legs QE2 will have, and I don't think the markets are finished "digesting" the whole picture just yet, either. Clearly, barring geopolitical event (iran/israel - china bubble explosion - ID4 scale terrorist event, etc) we have forestalled the double dip, but for how long? I feel the next 6 months are now secured (but at what a price!!), so Q1 should still be under the QE influence, but the later part of Q2?
Don't know, and until we actually HAVE experience in the markets with the new QE methods, hard to judge.
www.marketwire.com/pre...
QoQ loss improved from $0.28 to $0.12.
Now, will my synthetic short pay off as I expected or not? Two weeks to find out!
HardToLove
HardToLove
HardToLove
If that's right, it *may* mean that he's open to ways in which the income stream will *not* be defined at the federal level to meet federal desires. Some way to determine the level that leaves the decision-making outside of federal purview would be ideal.
I won't iterate the one suggestion I've made about that here - it's not an easy thing. Any time you try to cut your children's allowance, resistance will be seen. And if you had let them set it themselves by their own edict, it's even worse to bring about a change.
Based on behavior, I feel "comfy" viewing our government as I might view "children". So many behavioral traits in common you know.
MHO,
HardToLove
Not really. Without the Prebate, it is unpassable, even in the new House, much less the Senate, and forget about repealing the 16th Amendment.
But this IS some solid movement from Paul, and a welcome change. You're likely to hear similar support from others in the Right wing of the GOP, but again with a "tweak" to replace the Prebate (which for the more ideologically committed does, indeed, represent the socialist function within the mix).
If the fighting between the two extremes boils down to just hashing out the details of the Prebate, though, THAT would be encouraging indeed!
www.google.com/hostedn...
Thanks to moonman4518 @ Yahoo! for catching this.
Seems that industry bought a lot of diesel generation systems, and now the untended consequence of the imperial-edict for cuts in energy use has come to the fore.
(CPST) might be able to help. I assume they have a lot "waste" that could generate various bio-gases and fuels that CPST would run on just fine.
With the recent activity in China starting to use CPST turbines, we might see a little surge there.
HardToLove
Buying (adding) (CPST), (LYSCF) [buying opp in this one, imo], (MLLOF.PK), (NATUF.PK), (PAL) and (PLG).
finance.yahoo.com/q?s=...
**********************...
G20 isn't going to be all chocolates and roses, more like guns n roses!
finance.yahoo.com/news...=
Rodman's P/B, P/E and P/S are better than almost all its peers; Current assets = lots of cash. The only thing not to like about it, and possibly a deal-killer, is that Wesley Clark is Chairman. If he is just there as a political rainmaker RODM would be of interest; if he's micro-managing it, he'll bring it down...
####
Gamer account doing really well today, despite the down markets. (ATPG) up $1.15, 7.61%; (LPH) up .35, 10.00%, Nova Gold is simply going crazy, up .90, 6.74% (and up a whopping 93.23% since June 29th!)
"The financial system nearly shut down. It's only two years on. You need a little bit of patience to rebuild, to accumulate the capital you need."
Word on Main Street is that the banks have excess capital and that there is nothing to worry about. Their assets are sound. Yet now they say that they still need to raise more capital. Which is it? I think that any rational thinking human being can figure out that all is not well with the balance sheets at the banks. Given time, I do believe that they actually could work their way back to a strong balance sheet, but truth is that they still hold hundreds of billions worth of mortgage-backed securities that have gone sour with more becoming non-performing. All the while, the banks are stating that their provisions for losses are falling because those assets are really performing. Again, which is it?
"SIFMA President Tim Ryan said the group wants to help flesh out the "Volcker rule" on risky bank trading, among many other provisions, of the reforms approved in July."
Isn't this rich? What they really want to do is delete the Volker rule so they can continue to manipulate any market they want: silver, stocks, commodities, oil. That is where the majority of GS earnings are coming from, according to an article I read in either Forbes or Fortune magazine the other day, something like 70%!
Here's the link to the full article.
news.yahoo.com/s/nm/20...
It absolutly can't be good for us chickens.
Still not sure where resistance is even with the binoculars.
I think the shorts have a marathon to run butt naked.
This price action must be a short squeeze.
Polymet, PLM, tremendous volume explosion, looks in breakout mode, This is a Shovel Ready company which will create jobs in Minnesota.
We believe the political changes there will expedite approval.
Its a 100% gainer at a minimum.
PNPFF, EGI are running
Revised expectations: Expect silver to hit $30 by year end... not waiting till March.
Congrats to all the Renegade silver fans (which I think is about all of us)!
My silver stocks are ballistic: (GPRLF.PK) up 16.13%, (FRMSF.PK) up 10.46%, and even staid old (SLW) is up 5.67%.
Also noteworthy, the platinum group is keeping pace, (PLG) up another 5.62%, and (PAL) up 2.73%.
Oil stocks are also having a good day, as Maya pointed out, (ATPG) is up 6.41%, and (RIG) is up 5.66%. My royalty trusts/high yield oil/gas plays are all showing solid gains, too.
They have no clothes.
Mineweb article on the short squeeze. OG thats for you since you cant get in as much. I know you like mineweb.
www.mineweb.com/minewe...
The timing is just BEFORE the silver squeeze, so it could be some bigs have been caught leaning the wrong way again. Palladium is trading huge, up over $700.
I have (PLG), and have added more twice. (Tip of the hat to Joseph Shaeffer, thanks!) Still holding all shares, though its up plenty enough to take profits...
But I think I will just add more instead. I believe this stock still has room to run, given the situation....
Though I WILL take profits when it hits $3.
Thanks.
Thanks One Eye!
Thanks for your input as i have been having a great time watching the profits grow, being new i also added TOO to my portfolio today and shaved some profits from SLW, SLV, AND SIL today as i am not use to seeing anything rise this fast so quickly. Plus it has given me funds to expand into other ares, a sincere thanks to the renegades, you are ahead of the curve !!!!! TRIPLE, your messages have been a blessing to a novice, i have to throw that out there as well, thanks
ACE
Thanks to stocktrader555 @ Investor Village for finding this.
It's really worth watching.
www.thedailyshow.com/w...
HardToLove
So really, who do we want to be dependent on? The Middle East, that wants to destroy the great satan, or the Far East that wants to simply own us as consumer slaves?
Maybe I can call this, "cognitive astralputerprojection omni-tasking adroitness syndrome?" Holographic transportation stocks will be the thing to own! Omniscience physiologists PhD's will be making billions in gold latinum.
www.ft.com/cms/s/0/f28...
news.yahoo.com/s/nm/20...
HardToLove
Hurray for the private sector.
The truth is it boils down to "the enemy of my enemy is my friend" and the party in total power is our biggest enemy. Now that things are split they are both equally our enemys and we the people need to get back in the house. goooh.com
OK, here goes:
Mark Bern has done a bang up job on the quick chats, but his schedule is changing shortly.
I had a surgical procedure last Monday, this was my first day back. I don't know when I will be able to resume the quick chats.
Is there another volunteer waiting in the wings?
We can offer no pay, thumbs up, and many thanks.
HardToLove
Fortunately volunteers have come forward and I can bow out of volunteering to handle the quick chat gracefully....for now.
HTL and Triple, I will do anything I can if it is needed. Just drop me a message.
I will say both of you are much more technically proficient than me but if you need your boots licked to keep up the chat.......Maya will not be that busy on his trip and that service requires no power.
Mark: You've done a commendable job, pal. Thanks.
Might take at least a month! ;-))
HardToLove
finance.yahoo.com/bank...
Can this run be coming to an end??
ACE
And that is in cash and bonds. These levels are historic highs, by a long shot, and the recent moves mostly involve "new" money (401k deposits from current earnings, ergo, a change in the direction of new money going INTO that account rather than a transfer of the bulk of the account back into equities) rather than this entrenched mountain of liquid assets.
When we see bonds as a percentage of the total investment pie lose some large portion of their weighting - and that money flowing into equities - that would be significant.
Also note that the bulk of the new money flowing into the equity markets is institutional. Is the author calling the big institutional investors "dumb money"? I don't think so. Anyway, this is typical, the big institutions are much more nimble than the average retail investor (and driven to invest, unlike the frightened average joe who was burnt badly and is now wary).
This COULD be a peak, of course, particularly if the Fed has to confront an uprising in the new Congress come January, so there is risk either way. QE2 may never get off the ground, and should that happen, it could get rough.
www.newsoxy.com/world/...
Perhaps the aliens are now doing some recon expeditions to determine our strength and potential resistance levels. :>)
Up pre-market 2.53% to $0.81.
hardToLove
This can't be just a short squeeze with every metal in the marathon.
This is inflation. Thank Benny for the QE2. I will be buying four 55 gallon drums of dried shelled corn Saturday for storage at 11 cents per pound if we buy 500 lbs minimum. Will have plenty corn meal and/or corn squeezings. *Hic*
inflation.us/foodprice...
Herd about this site on Glen Beck and it will shock you. Hang on to your wallet.
An excerpt from the free report:
"The median U.S. home is currently worth $171,700 or
6,550 ounces of silver. After the inflationary crisis of the
1970s, the median U.S. home declined to below 1,000
ounces of silver. NIA believes that because this decade’s
Real Estate bubble was so large, Real Estate prices will
likely overcorrect to the downside and the median U.S.
home will be worth only 500 ounces of silver at some point
this decade. Therefore, if you buy just $13,000 worth of
physical silver today, NIA believes you will be able to pay
cash (without any mortgage) for an average American home
within the next 5 to 10 years."
That's great. What if L98 did Dec., HTL did Jan, and Triple did Feb (based on availability?)
Hopefully I will be back in the saddle by then.
HardToLove
Added (ATPG) [buying on the slight dip this morning], (BBEP), (FRMSF.PK), (GELYF.PK), (PLG).
I loaded up on (LYSCF.PK) yesterday, and tried to get more cheap at $2.18 this morning, but no joy, its up over 8% already.
Initiated a position in (SNDXF.PK), hat tip to Hyperinflation.
I've been tracking Lynas all day over on the REE Concentrator, and it is was up over 11% last I checked. Still well below recent highs, of course.
Its wild how long we in this group have been focusing on the junior miners, and the precious/strategic metals. Also the whole narrative about degraded fiat currencies and commodity investments...
And now its ALL coming together. My heartfelt thanks to all of you, and all those whose freely given information has led us to this point. Its a little early for Thanksgiving dinner...
But I see it glowing before me here on SA!
OE, thats a beautiful eye.
Also added PLM, and just bought more SVM. Both down some since purchasing.
Bottom line seems to be that dept has increased, because of delays in gaining deep water drilling permits (apparently, today, the first GOM deep water permit was granted, but not to ATP), that they continue to build out their next monster oil platform in China, "Octabouy," which is 80% completed, and headed for the North Sea oil fields late next year. Loans are expensive, and leverage is hovering around 5:1, quite untypical for oil companies these days. And, that their purchasing castaways from the oil giants because these fields are not major producers. But these fields are hitting at about 98%. And with Titan, they can just float the platform on over and start sucking the earth dry. Pretty ingenious concept is my take.
Shorts on this stock are approximately 50%. They're doing any and everything to keep this stock down.
How they're going to do this I haven't a clue, as ATPs revenues are up 70%! And...they have four more wells coming on line soon.
A stock not for the timid investor. A great stock for the advid trader. I'm both long in my brokerage account, having acquired shares for under 5 bucks, and also seemingly always trading this stock in the gamer account.
The Jekyll and Hyde in me... `
seekingalpha.com/artic...
I think of their "contributions" as "anti-pump".
I just added more (ATPG), and if anyone looks back over the last few QC's, you will see signs where I have been actively accumulating for quite a long time.
RIght now the pundits are staring at the large quantity of crude which has been imported by the United States (mostly from orders placed due to the Regime's epileptic seizure over the BP disaster, then followed by some really poorly thought-out buying models triggered by global warmists issuing major hurricane strike predictions).
The pundits, are, as often happens, wrong. LOL, or at least I think so.
I see (ATPG) bumping $20 per share before too long.
I'll be listening to the (CPST) report tonight. If no one hollers "I got it" by the time I'm finished (est. ~17:30 EST), I'll initiate a new chat and try to have the list of stocks mentioned here included by sometime tomorrow, at the latest.
HardToLove
Stub quotes (orders entered never intended to execute - prices extremely distant from "reasonable") prohibited.
sec.gov/news/press/201...
No more free, unfiltered sponsored access to markets for certain clients of large market brokers.
sec.gov/news/press/201...
Both good moves, IMO. Might, along with future moves, begin to make a "retail friendly" market possible somewhere down the road. Bigger problems still to be addressed, of course.
HardToLove
Any thoughts on this....feel free.
And it means that O.G.'s original idea has really morphed into a "community" effort. A great thing, IMO.
HardToLove
Sounds like a great plan.
I hope you didn't get scraped up too bad.
A little music and it would have been perfect.
www.youtube.com/watch?...
27 "Thumbs UP" (while they're still good)!
HardToLove
seekingalpha.com/artic...
"it's good C doesn't have this on their balance sheet".
It also has a way-out-there worst case scenario, but after what happened with AIG, I wouldn't discount it all that much!
So, here's the article, about how C might be 133 Billion in the hole, based on "put backs"--buying those packaged mortgages back from the investors that relied on C to tell the truth about what was in them.
The way I interpreted this article, I think the writer gives Fannie and Freddie free passes they don't deserve.
Goldman Sachs (GS) came out and said BAC has even more liabilities than C.
It's a friggin' nightmare.
www.cnbc.com/id/399164...|headline|quote|text|&...
I would look real close at who is doing the finger pointing.
Actually I would not touch a bank with a 10 foot dollar right now.
But the turmoil there has punished hundreds of well-managed, bulletproof balance sheet community banks across the country where inward migration continues apace and loans are being made to clients who have been with the same bank since Daddy was in knee-britches. THOSE I'm quietly accumulating...
I'm with you about how, someday out in the future, I'm going to look back and be grateful I acquired some Wells at ridiculously cheap prices.
Most of you have already endured my rants about pundits here on SA and elsewhere that take snapshot views of Wells' balance sheet, completely missing, or purposely avoiding their humongous present and future earnings power, i.e., their long term growth story. I'm not saying Wells is as innocent as a lolita at a cotillion class, but they do have one whale of a future once they wash through, earn their way out of the defaulting mortgage exposure.
About two and a half to three years they will have powered their way through this mess, and the stock will be double what it is today, with a vastly higher dividend, too.
I do understand some of your viewpoints about how the TBTF banks are largely responsible for this recession we're in, and understand that based on principle why one would not own these TBTF banks. I'll never own Goldman just for this reason.
But, I'm in this game to make money, and I don't consider myself a ruthless tyrant owning Wells, or, at making a "killing" last year from H1N1 via NVAX; pun intended!
Ranks right up there with that great line from "The World According to Garp":
"Beware the dreaded undertoad!"
(Of course, translated from kidish, it should really be a warning to swimmers, ie "Beware of Undertow", but I like the original better).
We might see that. Now approaching $29.00
Holy sh$t batman.
Time to roll in another bar.
ummm.....errr......fiat.
Hm, two of our major assets both moving down together when they traditionally move inversely. I guess a message is being sent by multiple markets expressing an opinion on QE 2.
I can't wait until Ron Paul is able to start weighing in. By the time he gets his shot, should be a $h*tload of ammo available to him.
Employment will be still abysmal, unemployment still up, economy still anemic, bonds worthless (maybe), dollar used for home heating, ...
Of course, all this could be negated, I guess, by another round of Euro-zone crises, etc.
HardToLove
P.S. Even (TIPS) is down.
HardToLove
Long-bond bubble seems to have indeed gone "Phfzzzzt", as suggested.
HardToLove
www.huffingtonpost.com...
NADA!
Whichever party they may claim, their behavior is predictable.
HardToLove
www.mineweb.com/minewe...
Impeach Obama!!
I expect to be attacked by the troll and his maggots on that note.
I am finally in the black on PNPFF.
www.youtube.com/watch?...
Silver, the long legged sexy lady in my dreams.
www.youtube.com/watch?...
HardToLove
I put it in as a request over on Shiffs article.
www.youtube.com/watch?...
It's interesting though how much the music of our day reflected the turmoil and disruption we were going through as a society.
I've been think that a parody song, based on Elton John's "Benny and the Jets" should be done. It would be titled "Benny and the Feds".
Of course the lyrics might be a little bit different.
HardToLove
Think fed, dollar, banks, markets, 9/11, terrorists and of course Afghanistan.
A complete remake with todays images to include t-party protests and of course goooh would be great.
i just sold some profits from RVMIF.OB. Revitt has been up over 45 % since i owned it... As a noobie still can't get use to waking up each morning looking at an all green screen. Makes a guy with three disc fused stuck in bed at least have a happy face !!!! Again thanks to the renegades for holding my hand and helping out a fella disabled. But i will be up and about soon i hope.. OG, not sure what you had done but as i see you posting more glad you are feeling better
ACE
Here are some regional banks that have potential:
finance.yahoo.com/bank...
Enjoy!
www.youtube.com/watch?...
HardToLove
Or maybe it's just one of those "technical move" things.
HardToLove
(FRMSF.PK) down 7.31%
(PAL) down 4.23%
(GPRLF.PK) down 2.78%
(PLG) down 2.50%
(KGILF.PK) down 2.48%
(SLW) down 2.40%
Something is definitely UP!!!
I may run into my tight stop in SLW, PLG and PAL.
Watching closely at this point, Maya, be careful with (SVM).
Short suckers didn't get me...yet!
Gamer board looks like a bloodbath today. Only New Gold and Molycorp are up. Nova Gold (NGD) and Axion (AXPW) are flat.
Ugly chart, and I'm not quite ready to call it a buying opp, but it might well be just that.
HardToLove
finance.yahoo.com/news...=
But timing makes me see the fine hand of the same bahstards that have been manipulating silver and gold for so long.
REE stocks are the life preserver keeping me in positive territory today.
Just looked over my stocks which "took the header":
(FRMSF.PK) is down 6% now, up slightly from where it was
(GPRLF.PK) has deteriorated to down 3.08%
(KGILF.PK) is still down the same 2.48%
(PAL) is worse, down 4.94% now
(PLG) is down 2.92%, trending down
(SLW) has now slid downwrd 2.79%
Overall, the trend is not improving, but its also not really getting much worse.
This abrupt reset lower also makes for a strange and unnatural looking chart.
Of course, they fell just as fast.
In this case, we're talking about dollars per hour, not day.
I believe this is a dollar move as TB noted above. If Europe unwinds this could be devastating for the short term for PM as dollar soars.
Most finger nails on left hand chewed off already.
What a day this is.
I am wondering "Who" raised the requirement. I was one hour behind the change on my last purchase. I should have taken that as a warning. Did not occure to me I was too blissfully drunk on the rise that was going on.
(GPRLF.PK) is approaching flat, now down only about 1%
REE's I have been checking still show strong, while American companies like (MCP) have shed their gains.
Attack on the American PM companies are accelerating, (SLW) now down 5.45%.
Just hit my stop on (PAL), near my stop on (SLW).
SIlver and gold prices on Kitco are pointing straight down, gold is now trading at $1393, silver is at $27.16.
www.kitco.com/charts/l...
Makes a self-reinforcing feedback loop?
(DXY) now $77.81.
HardToLove
Just peeled off the two last bars bought with pretty good whooping but I do not want to have to be forced to sell with the pack later tomorrow if this continues. It could get a lot worse. Now I am in a position to get back in at a lower price as this plays out.
If I weren't as sure as I was about the coming inflation, this gigantic nose dive would have me worried.
Shorts have all eight cylindars running today, blue smoke coming out the turbo exhaust pipes. Not going hogwild buying; I feel like I'm dancing with the devil. Hoping tomorrow the shorts keep hammering away. Dry powder ready. Thank heavens I put up some stops earlier today.
Expect short covering to happen toward the bell; tomorrow, too.
It is also how they support the big short sellers ( namely, certain "tbtf" banks.) If the banks ever had to make good on their positions, they couldn't. They have more contracts than materials to back them.
I was just preparing a comment to that effect:
I've been scrambling the past hour or so. This whole thing caught me out of pocket, trying to handle my daughter getting oral surgery AND keep on top of things, so WHEN does the wall crash in?
LOL, god hates me, I know she does. I have ample proof!
Silver and Gold prices are crashing, no sign of a bottom yet. Silver is back in the low $27 range, gold is back in the $1390's. Charts point straight down...
I think they are correct, this is one of those perfect storm situations...
Ace mentioned the news about increased margin requirements. I seem to recall that these margins used to leverage at 10:1, and they have recently been 15:1 (been that way for quite a while).
Margin calls COULD cause this sort of reaction, assuming traders had to suddenly SELL metal because they had gone long but did not have sufficient funds to meet the new margin ratios.
SIMULTANEOUSLY we got catastrophic news about sovereign debt problems in Euope (again), which triggered a run up in the dollar (and it happened near as I can tell EXACTLY when the news broke about the margin calls), so the two things combined to push down commodity prices in general, but PM prices IN PARTICULAR.
Are these things coincidental with the driving need to bail the 2Big2Fail banksters out of their short positions? ROTFL.
I ahve no idea if this is just going to continue to be a general rout, or just a blip.
Anyway, I expect my SLW stop to trigger any minute, and PAL, and maybe who knows what. I'll be rebuilding tomorrow, though thankfully I have kept tight stops, so I was able to preserve most of my gains.
I won't be bailing right this minute, but IF this crap gets worse tomorrow, I will be.
Skiddish as to when i buy these three back at this point..
so can this get worse tomorrow as well. Point of emphesis, if in the future you need my help although i consider myself still new , would be glad to lend a hand if needed. Might need some help setting it up but March is a slow month for me as i am a college softball official and we start in April. That is if this friggen surgery ever lets me back on the field. Car accident , someone ran a red light and wiped me and my wife out. I put off the fusion as long as i could. It is over three years ago i had the FAILED surgery so i am bed ridden on my bad days. Unless i want to eat my pain meds like candy then i don't even need a chest protector behind the plate as a trainwreck would give me no pain. However the anxiety today for a noobie was overwhelming.
But as they say you gotta get back on the bike when you fall off. Just not sure when to start peddling again. Owned SLW, SLV, AND SIL. SHOULD I WAIT A DAY FOR THE SMOKE TO CLEAR, or jump back in tomorrow ???? Advice???
Make sure you go to the bottom of this QC and link into the next QC #117 as that is where we all are going to be this evening and tomorrow.
WHATEVER it was appears to be reversing, at least for the moment, I hope.
Gold is now less than 1% below the high. It's not a crash at this point.
SIlver was worse, it fell $3, just over 10%.
But they might have margin calls coming when they wake up too!!!
I am rolling on the floor crying, not laughing.
Possible the PM margin call forced bond holders to dump bonds to raise cash for margin?
HardToLove
Go long uup or dzz. (not for more than a day or two).Just an idea.
PNPFF --I'm back in the red!
Oh by the way, those trading with BoA etc. please for the love of America don't bank with any TBTF bank, not like they need your money. They are fat off of the government and Bernanke already. Talk about a magic ATM. They got one. Where's mine?
Shameless plug here. Check out your local credit union. No shareholders to keep happy, you actually own part of the credit union you join, and you usually get better rates. Most credit unions these days have ways to let you be a member, so it's not hard to join one. Like mine for example. As long as you live within our footprint, you can join.
Mostly due to warrants accounting, otherwise, in-line.
www.globenewswire.com/...
HardToLove
HardToLove
Reminds me of nearly another flash crash event.
I feel once again we are duped and manipulated pawns in the big game. Nickles in front of steamrollers as was noted before. Got no nickles today and lost a pinky as it was rolled right over.
Please go to Quick Chat 117.
Thanks to Eli for providing guidance on creating a QuickChat host id.
Thank god this noobie had been selling some gains along the way , but i have never experienced this crap before. I sold ALL my SLW, SLV, and SIL. My net loss was less than 2k. So what is a person do in this case. Buy back right away tomorrow, or wait until the afternoon to see if more has to be flushed out...
Opinions appreciated !!!!
ACE
seekingalpha.com/insta...
HardToLove
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