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  • Gold's recent weakness provides "an outstanding, low risk entry point" for the metal and even better, for miner shares, says Tocqueville Asset Management. "Essentially long duration in the money options on the gold price," the upside for miners should exceed the metal.   [View news story]
    Yeah, they banged it hard today. As of a few minutes ago Silver is still down yet Palladium and Platinum is up over 3%.
    Mike I think you got it wrong on the demand side, every central bank is buying record amounts of gold hand over fist - see China, Russia, Turkey, etc. The price is being kept down not propped up, naked shorts in the paper market gets it done.
    Jun 14, 2012. 11:53 PM | Likes Like |Link to Comment
  • The EFSF is preparing a line of credit for Spain, if necessary, reports a German newspaper. The rumor makes little sense as the EFSF itself has found it difficult to raise money, and Spain is a 12% contributor of the fund's capital. Spain does have a bond auction coming on Thursday, so whatever gets you through the night.   [View news story]
    Whats needed is whats coming, a collapse of the financial systems - globally. Then we get a reset, from there what happens is anyone's guess, hopefully not a central bank controlled monetary system.
    Rajoy is a complete pinhead, making ridiculous statements for weeks that everybody knew were lies. Damn I hate technocrats, especially ones connected to Goldman Sachs! Wait, that's most of Europe and the US. We'll get our collapse because that's what they want, how else do you take ownership of the assets - default from collapse. They won't be happy until they get everything.
    Goldman owns the world via sovereign debt and JP Morgan owns everything in it via commodity futures. Unbelievable but true, JPM owns dominant positions in most important commodities while Goldman is a primary lender in most sovereign debt situations. Between Goldman and the German and French banks Greece doesn't own a single asset in their own country! Ports, utility companies, mining resources, infrastructure, water, agricultural resources, etc. etc.
    Spain is nothing in the scheme of things, just a pawn that is being manipulated according to a predefined outline that Rajoy is carrying out.
    Jun 5, 2012. 11:35 PM | Likes Like |Link to Comment
  • The string of weak economic data and the EU crisis have put additional stimulus back on the table, writes Fed whisperer Jon Hilsenrath, and Bernanke may move this month to avoid a shift in policy closer to the November election. Vice Chairwoman Yellen speaks Wednesday night, and the Chairman testifies before Congress on Thursday.   [View news story]
    Ben Bernanke
    Jun 5, 2012. 11:22 PM | Likes Like |Link to Comment
  • Eurozone April retail sales come in at -1% M/M and -2.5% Y/Y, much worse than expectations of -0.1% M/M and -1.1% Y/Y. March's figures were +0.3% M/M and -0.2% Y/Y. (PR)   [View news story]
    By the end of the year most of the world is going to be in the same situation as Greece, more or less. Every single country in the developed world is heading that way, printing money and trying to inflate bubbles while they transfer wealth from the middle class to wealthiest .05%.
    Not much will change, obviously if Obummer wins we keep on the same path and if Mittens wins we still keep on the same path. The politicians are no longer making decisions or creating legislation or regulations, this is being done exclusively by the corporations. We are becoming a fascist country, hard to believe but it couldn't be more obvious.
    Get ready for the biggest implosion the world has ever seen, coming to an economy near you by the end of the year. That's right, you to can experience the right to transfer your retirement savings into treasury bills to save the country and what will be left of your money after the big crash.
    You think banks get away with a lot now, wait until the end of the year post the global financial meltdown when the banks get the ability to collect the collateral on millions of loans - everything from homes to credit cards. They'll likely allow you to rent your home, even at a discount to what your mortgage was, you just won't own it anymore.
    People think this is crazy and that's fine but they've done this many, many times before in every country in the world, including America during the GD. The system won't have a choice if it is to keep going, that's why these things are inevitable - this is classic banker theft and as it usually is, endorsed by the political strata.
    They'll foreclose on good loans and bad loans, it will be a functions of the assets and what ones they want first and fastest. Let's face it, they won't be happy until they get everything we have, and I mean everything. Be naive or adhere to the normalcy bias at your own risk. If you have a family and aren't preparing for this (global financial meltdown) then you are irresponsible and will be very sorry as early as the end of this year.
    Research it yourself, the banks are and have been insolvent since 2008. The financial sector has been placed above the law and are stealing money in every way imaginable including gambling with huge positions backed by taxpayers (see JPMorgan). The only collateral is cash, this is why interbank lending doesn't happen anymore. If Benny doesn't do another QE then the system will freeze up before October, if he does than it will freeze after the elections sometime. Either way, the US economy along with Europe, Japan and China are heading to a nasty place where confidence is completely lost in the financial systems.
    Nuff said, see for yourself and peel the onion back a layer or two.
    Jun 5, 2012. 11:32 AM | 1 Like Like |Link to Comment
  • I Changed My Mind On JPMorgan And Jamie Dimon  [View article]
    Good points. I think one of the biggest tells is the fact that JPM is being sued by its employees for failing to fund the 401k properly and according to the rules! This isn't just a mistake because it automatically happens which implies someone had to decide and act to turn off that funding - why? There are lots of other small tells as well so I agree that JPMorgan has holes in its balance sheet that I think will rock the banking world and the finance world in general - Jamie has fucked the company. Of course, the Fed will bail them out because that's why the Fed exists! Nonetheless the stock will get hammered a lot more but it won't disappear (unfortunately). Ina Drew was just a head that got handed over, but everyone knew about this trade and HAD to approve it!!! Jamie is lying about the whole thing from beginning to end, everything is a lie. Max Kaiser just did a show with someone that has reviewed the JPM situation in detail - they project things are much worse than we have been led to believe - of course. (
    May 31, 2012. 11:31 AM | Likes Like |Link to Comment
  • CE Franklin: Strategic Review Could Pay Off  [View article]
    A good pick! This one is actually up from the date of your recommendation - amazing. Well, your not batting 100% anymore you do get at least some right -:) Congrats. $8.82 to $9.27, over 6% gain in about 5 weeks.
    May 29, 2012. 05:36 PM | Likes Like |Link to Comment
  • Waiting For The Bottom In JPMorgan  [View article]
    Your logic is sound and your approach is as well, but this stock is going to find its 52wk low before there is any chance of a serious move north. As more news is released there will be more pressure put on the stock and Jamie Dimon, both are under attack.
    I think the banking system is insolvent and without the Federal Reserve constantly inflating their cash (which has become collateral) positions they would be bye-bye. This is part of the reason for such ridiculous trades, now is the time since they are backstopped by the Fed. Jamie is an arrogant guy and he knows that the exposure is radically more than has been suggested.
    These losses are likely to exceed any expectations, what does a 30 billion dollar loss do to your trading model? You may think this is ridiculous but this is possible given the trade and amount of leverage involved. This doesn't consider the pending lawsuits, one of which is from their employees because they were not funding the 401k plan! What does that tell you, huh? Just a little administrative mistake maybe? I don't think so. This bank is so totally corrupt and exposed that it will fail or be forced to break apart into little pieces.
    The financial system is nothing more than a mechanism for transferring wealth, it has no integrity left whatsoever! Everything is made up, manipulated or hidden in the huge balance sheets. In fact, JP Morgan has billions of dollars of obligations off the balance sheet.
    How you could suggest JPM is beyond me unless you really haven't done any due diligence at all beyond "the numbers" and "the charts". Peel the onion back a couple layers and you'll find exposure and risk that far exceeds anything a well-run bank would allow. JPMorgan is a hedge fund wannabe.
    Just the fact that Jamie has lied about the type of trade (prop vs hedge) should make you wonder about the validity of anything he says. How about the silver market manipulation and the millions of naked short contracts they hold?
    In the end, JPMorgan will be broken apart, but between now and then we are going to find out just how bad things are at the largest bank in the country (this week anyway). Jamie should go to prison or be tried for treason because of the damage JPM will do to the economy once this all shakes out.
    Check out for a recent review of the JPMorgan situation.
    May 26, 2012. 10:52 AM | Likes Like |Link to Comment
  • Staying Committed To Europe - Even If It Is In Cash  [View article]
    I suspect Europe is in for a lot more pain, they should be considering where their banking system is (insolvent) as well as how much of the regions GDP it represents - considerably more then the US.
    I've shorted via EPV, DRR and EFU and have done very well BUT it seems that everytime I look the EWs of Europe are green! Spain, Italy and France look like they go up everyday!
    I' be short until they come out with a viable plan and not another band-aide, then I'll jump to the other side. I doubt this will happen anytime soon and may not happen at all frankly. The problems are bigger than the entire GDP of the region - way bigger. This means massive restructuring of debt and they are reluctant to do that of course.
    The game of chicken could hurt the region ultimately, especially when we all know they will cave in on Greece (and Spain, etc) to keep them in the union. Greece holds all the cards and the Syrizia (sp?) party isn't leaving the Euro, they just want things renegotiated which, btw, everybody (except Merkel) agrees with.
    Being committed to a strategy is so difficult and can only be done if you have a strong conviction that is based on knowledge and confidence. Most people I know have no strategy at all, they are either aggressive or passive, most invest exclusively through their retirement plans. I've watched them get fleeced year after year.
    In order to maximize a strategy don't you have to realize that both sides of the trades must be considered? Being long under some conditions and short under others? For example, I'll be jumping to the long trade of the Euro well before I change my other European shorts, this is because the Euro is oversold and the # of shorts has created the potential for a squeeze. Sitting through this craziness on just one side of the trade seems a little nutty, no?
    Anyway, I agree with your article and your points were well made and illustrated.
    May 26, 2012. 10:15 AM | Likes Like |Link to Comment
  • 3M Is A Long - And Then A Short  [View article]
    Good article, especially explaining the problems with Stop and Limit orders. Just more fleecing, I don't bother using these orders.
    May 26, 2012. 09:24 AM | 1 Like Like |Link to Comment
  • U.S. manufacturers are opposing JPMorgan's (JPM) plans to launch an ETF backed by physical copper, telling the SEC the fund would "grossly and artificially inflate prices" and "wreak havoc on the US and global economy." JPM's regulatory filings suggest its ETF could hold 61,800 tons, or 27% of the copper held in the London Metal Exchange’s global network of warehouses.   [View news story]
    Based on JP Morgans position and manipulation in other commodity markets this should not be allowed, but it will be of course. They'll manipulate the Copper market just like they do the precious metals all in the name of hedging for their customers - the Fed.
    JPMorgan holds substantial positions in most commodity futures markets, everything from bacon to wheat. Basically, Goldman owns the world and JPMorgan owns all that's in it. They can't lose because they control everything including the gubmint(s) and the media.
    Both companies are ultimately treasonous in terms of what they have done to the USA, the CEOs and the BODs should be imprisoned for the rest of their lives. Unbelievable how they have positioned themselves, GS runs pretty much every gubmint in the western world.
    Wake me up when they roll out the guillotine and start the decapitations of people like Bernanke, Dimon, Blankfein, Moynihan, Summers, Clinton(s), Obama, Bush(s), Rubin, Greenspan and all the rest of them. No trial is required, just pull the apparatus up in their driveway, pull them out of the house in their PJs and cut their F'n head off. Then put it on the end of a pole and stick the pole in the lawn of the Whitehouse for all the world to see - just like the Italians did with Mussolini.
    May 24, 2012. 12:29 PM | 2 Likes Like |Link to Comment
  • Why I Am Short Gold: 5 Reasons  [View article]
    Wow, I'm not even sure what to think. You thinking is slightly flawed and I'm not a Gold bug. I think most people are buying PMs to hedge against a currency crash and the likelihood that Gold will be factored into whatever "new" currency comes out of the dust.

    That said, I do think PMs will likely decrease further as the Euro declines forcing up the dollar and the equity markets. This will last until the next round of LTRO and QE operations when the money printing goes into overdrive. This next iteration will have to be dramatically larger then the previous QE1 and QE2 and Lemon Twist.

    Keep shorting on the spikes, all the way up to a new record by the end of the year and sometime in 2016 we are likely to see a slight decline, maybe you'll be able get out then.
    May 21, 2012. 11:49 PM | 1 Like Like |Link to Comment
  • Spain: 2 Recent Developments With Long-Term Consequences  [View article]
    None of the numbers published by any of the Governments can be trusted as they are manufactured, truth is that Spain's unemployment is higher than they are saying. I'm seeing lots of people protesting and marching everyday, clearly a lot of people aren't working.

    In America, the jobs that left won't be replaced anytime soon. If they are eventually replaced most will be low-paying, service oriented jobs like Wal-Mart or Home Depot clerk.

    Europe, the USA and Japan will all be destroyed over the next couple of years maybe sooner. The EuroZone will fail because the people want out, right or wrong, they are sick of being fed the BS from the technocrats in Brussels. To date, in spite of what the people want (like here), the Eurocrats have tried to continue with their agenda but that clearly isn't working so well now.

    Nationalism is on the rise in every European country, this is evident in the French elections but also evident in the recent changes to the open-border policy which is a critical tenet of the union. Its moving backwards, as the Euro President said on Thursday, "a breakup of the European Union cannot be ruled out".

    The question is how long can they play the charade? The intent in Europe is at least through the May elections and in the US its November - that's a pretty long time given that so many things are out of the control of the Fed/ECB,etc.

    The Greek/Portuguese/Ireland bailouts were only temporary solutions, just long enough to get them (Merkel, Sarkozy) through the elections. I think May are the elections for France, Germany and Greece - any of these could result in a new Government that wants out. It would surprise me if Germany is the first out but it is a possibility as it is for Spain or Italy because both are big enough to demand what won't/can't be given.

    We shall see, this will make for a very interesting summer, fall and winter!
    Apr 30, 2012. 01:03 AM | 2 Likes Like |Link to Comment
  • Dude, where's my weaker currency? After the BOJ gives the market what it wanted in the form of a 33% bigger QE program, the yen gets even stronger, the greenback off 0.4% to ¥80.67. "The leopard doesn't change its spots," says Tim Condon, "(The BOJ) doesn't view monetary accommodation as a cure capable of reversing Japan's deflation."   [View news story]
    Short? Lots of dead traders on the side of the road that have shorted Japan's bond market and currency...Risky, but I like the trade as well and shorted two weeks ago by going long YCS. It is soooo manipulated it is hard to say how bad..
    Apr 27, 2012. 04:23 PM | Likes Like |Link to Comment
  • Banco Santander: A Safe 12% Yield From Europe  [View article]
    I shorted this stock (ADR) at 7.05 but have since been unable to short any more shares. I hold just a 1000 shares but wanted to get 10k - oh well, guess that ain't happening.
    This bank isn't that bad but they have decided to sell their Latin America holdings which generate a large amount of their profits - this (to me) is a bad sign.
    I wouldn't go long on this stock, that would be crazy at this point, it isn't likely that it will gain any positive momentum for years to come. The Euro Zone is pretty much done, they are just trying to keep things together until after to European elections, it will be close. Given that backdrop how does somebody suggest it to be a good buy? Chances are they'll have the dividend eliminated as they dive into the ECB.EFSF.ESM or whatever initials turn out to be appropriate.
    Spain will likely be the country that makes it clear the Euro dream/experiment is over although I think that was/will still be Greece or Germany! We'll see.
    My recommendation is to short this stock or stay away completely, look BBVA (??) as another short option in Spain. Wouldn't go long on ANYTHING in EUROPE right now.
    Apr 26, 2012. 06:52 PM | 1 Like Like |Link to Comment
  • The French Election Impact On Markets  [View article]
    Things are so manipulated its ridiculous, almost comical if it wasn't for people's pension funds being destroyed by the CB antics. Today, after a miserable weekend for EuroZone news the Euro moved positive against basically all currencies - crazy. Repatriation only accounts for so much, this is flat out manipulation to keep the dollar weak. People leaving the Euro in droves and coming to the Dollar yet the market move was opposite to the trades! Its as bad or worse then the silver market.

    In the end the French election won't have nay impact at all, it has created some buzz for now but Hollande will follow the Eurocrat ways because he doesn't really have a choice. The French are thinking they can somehow maintain their standard of living and avoid a crash - they won't, they can't.

    The writing is already on the wall for the Euro and the French will likely ride it to the end. France like many other Euro countries has seen an increase in nationalism, this is likely to strengthen in the coming months as things worsen. The scapegoat, right or wrong, will more than likely be Eurotopia which will reinforce these feelings. Germany is at risk to be the bad guy as well, this can be seen in the Greek, Italian, Portuguese, Irish and Spanish media where swastikas are a bg part of the message.

    Hollande will likely create friction with Merkal since his position is to focus on growth and not exclusively austerity, realistically this can't be done without negatively impacting (politically) each of their candidacies in terms of re-election. This includes Germany and the Netherlands although Hollands recent debacle may push them into the fray (appears to have).

    Exciting times as the empires of the United States, the European Union and Japan collapse financially and then physically. By this time next year we'll be in the middle of a world war with a crippled economy - war is always the final solution to these types of problems, history is consistent in this regard - unfortunately.

    Hollande is taking the reins (or will be) of France at the worst possible time, he has little ability to actually change things without the endorsement from Brussels which he is very unlikely to get, similar to Cameron and the request for an exception to London's financial services industry (he didn't get it).

    The biggest impact will probably be to Angela Merkal who will have lost her buddy, her comrade, her friends. She will now be an easier target for austerity complaints but she will also take the full brunt of the heat as it is turned up - she's alone.

    We'll have to see how things unwind, this is likely to be extremely tenuous and difficult especially since there is currently no way to exit the EuroZone! Who will be first, that's the question - will it be Germany, Greece, Spain or one of the others? My bet is Spain or Italy - maybe both simultaneously.

    Long winded, sorry 'bout that.
    Apr 24, 2012. 05:21 PM | 1 Like Like |Link to Comment