Seeking Alpha

theyenguy's  Instablog

theyenguy
Send Message
I am not an investment professional. I do not engage in stock or currency trading. I am a blogger and investor who believes the failure of credit has created an investment demand for gold, and that gold bullion is the sole means of wealth preservation.
My company:
Economic Review Journal
My blog:
EconomicReview Journal
  • Exhaustion of Quantitative Easing Turns Bank Stocks Lower Worldwide …. Which Turns World Stocks, Bonds, Currencies and Commodities Lower 0 comments
    May 2, 2011 8:56 PM | about stocks: GLD, UUP, FXA, FXE, FXM, FXC, ICN, FXB, SZR, FXF, CYB, BZF, FXRU, FXY, AUNZ, DBV, CEW, CCX, XLF, KRE, EUFN, FGEM, RWJ, ACWI, DIA, SPY, NYC, IWM, BND, DJP, UBC, BCH, HDB, KB, C, CHIX, BWX, GDXJ, GDX, OIH, HAP, SSRI, CWEI, CVCO, LBY, FEIC, PLCM, BEAV, AMT, XOM, SIL, KROO, INDY, SCIN, ENZL, IGN, LATM, EEB, XSD, RZV
    Financial Market Report for May 2, 2011

    1) … The Financial Sector, XLF, Banks, KRE, European Financials, EUFN, Emerging Market Financials, EFN, and small cap revenue firms, RWJ, turned lower, turning world stocks, ACWI, the Dow, DIA, the S&P, SPY, the Russell 2000, IWM, the New York Composite, NYC, Bonds, BND, and Commodities, DJP, and USCI, lower, as well as world currencies, DBV, emerging market currencies, CEW, and commodity currencies, CCX, lower. The world has likely passed through peak wealth today.

    Financial Firms, XLF,  turning lower included Australian Bank, Westpac Banking, WBK, UBS Bank Switzerland, UBS, Chile Banco de Chile, BCH, HDFC Bank, HDB,  KB Financial, KB, and Citigroup, C.

    We are witnessing the beginning of end of credit as it has been known, and the end of neoliberalism as a political and economic system. Last week we witnessed the downturn of the Chinese Financials, CHIX, and the BRICS Falling Lower On Inflation Destruction in India and Introduction of Chinese Feudal Economic Governance.

    Out of the failure of seigniorage and of credit, as well as currencies world wide, a global chancellor, that is a Sovereign, and a global banker, that is a Seignior, will arise to provide new moneyness. Wealth is best preserved by transferring out of fiat assets and into gold as it dips lower to support possibly as low as $1,380. In other words, gold is in a bull market and will continue to be. In a bull market one buys on dips, whereas in a bear market one sells into strength. One could short sell tomorrow; and short sell  dips in stocks as they occur, but one is still left with fiat based currencies whose value is based upon what will be falling world government bonds, BWX.      

    2) … The failure of the seigniorage of Neoliberalism is seen in the junior gold mining stocks, GDXJ, and the gold mining stocks, GDX, falling strongly lower; as well as in the gold mining stocks relative to the 30 Year US Government Bond, GDX:EDV, lower, as well as energy services, OIH, turning lower, and hard asset producers, HAP, turning lower.

    Gold, GLD, turned 1.3% lower as the US Dollar, $USD, traded unchanged at 73. Gold is likely to fall lower to $1,380 before it turns awesomely higher once again.

    All of the world currencies turned lower, except for the Euro, FXE, which closed at up 147.75 , the South Africa Rand, SZR, which closed up at 29.99, and the Swiss Franc, FXF, which traded unchanged.  

    Stocks and ETFs falling lower included
    Silver Standard Resources Inc, SSRI
    Clayton Williams Energy, CWEI,
    Manufactured Housing Manufacturer: Cavco Industries. CVCO
    Tableware products: Libbey, LBY,
    Nanotechnology, FEI, FEIC
    Processing Systems And Equipment: Polycom, PLCM,
    BE Aerospace, BEAV,
    American Tower, AMT
    Exxon Mobil, XOM

    Silver Miners, SIL
    Gold Miners, GDX
    Junior Gold Miners, GDXJ
    Australia Small Caps, KROO
    India, INDY
    Small Cap Technology, PSCT
    India Small Cap, SCIN
    New Zealand, ENZL
    Networking, IGN
    Latin America, LATM
    Brics, EEB
    Semiconductors, XSD
    Small Cap Pure Value, RZV
    Small Cap Russia, RSXJ
    Russia, RSX
    Energy Service, IEZ
    Small Cap Energy, PSCE
    Canada Small Cap, CNDA
    Steel, SLX
    Gulf States, MES
    Home Building, ITB
    Energy, XLE
    Italy, EWI
    Brazil, EWZ
    Small Cap Consumer Discretionary, PSCD

    3) ... Charts suggest a market top was achieved May 2, 2011


    VT:DJP



    iPath Optimized Currency Carry ETN ICI Weekly, ICI,



    South Korea, EWY,



    EWJ,




    EWX




    PICB



    IHF



    XPH


    VT:BWX



    ACWI Monthly




    JNK



    BND


    x
Back To theyenguy's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »
Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.