US Bonds no Safe Haven compared to Gold

posted by Trader Dan at Trader Dan's Market Views - 2 hours ago

One of the things about deeply ingrained responses is that they take years to form. In the case of bonds, it has been going on for decades when it comes to them being regarded as a safe haven during times ...

Weekly Charts

posted by Turd Ferguson at Along The Watchtower - 9 hours ago

I've got so many things to cover with you this weekend, I don't know where to start. Frankly, I hope Mrs. Ferguson grants me the "office time" to get it all cranked out. Later today, Little Turd #2 plays f...

 

 

 

Guest Post: There Are No Good Outcomes

Submitted by Tyler Durden on 03/05/2011 11:48 -0500

The political class and their mouthpieces in the corporate controlled mainstream media are desperately trying to spin the oil price surge as a temporary inconvenience that will not derail their phony recovery story. Brent crude closed at $116 per barrel yesterday. West Texas crude closed at $104 per barrel. Unleaded gas has risen by 22% in the last month and 60% since September 1, 2010. I’m sure this slight increase hasn’t impacted Ben Bernanke or Lloyd Blankfein. Their limo drivers just charge it to their unlimited expense accounts. Joe Sixpack, driving his 15 mpg Dodge RAM pickup, is now forking over an extra $1,200 per year in gas expenditures, not to mention more for everything impacted by oil such as food, utilities, and anything transported to their local Wal-Mart by truck (everything). Luckily, the Federal Reserve and crooked politicians only care about their comrades in the top 1% elitist society, for whom oil is an investment, not an expense. 

 

 

 

Goldman's Noyce On How To Play The "Large S&P Correction Coming" Through FX, (And All The FX Charts That Matter Next Week)

Submitted by Tyler Durden on 03/05/2011 13:51 -0500

In addition to all the traditional technical observations on all the key crosses from Goldman's only must read technician John Noyce, which include the EURUSD, the EURCHF, the AUDUSD, the NZDUSD, and the AUDNZD, the NOKSEK, and the GBPUSD, and a quick look at 2 year USD swaps, Noyce's key technical observation has to do with a pattern emerging in the S&P vis-a-vis trendlines. To wit: "There are a few signals on the daily chart of the S&P which argue that a larger correction could be developing." The key support line according to Noyce: 1,291-1,294 on the S&P, below which the next support is the 200 DMA, which is all the way down at 1,174. The key catalyst: a market that is riduclously overbought at 129 days above the 55-DMA (128 as of the day of Noyce's report which was on Thursday). So how to play the coming correction in FX? The AUDJPY may be the best bet and the Goldman chartist explains why...

Saudi Arabia Bans Demonstrations As Its Plunge Protection Team Sends Stocks Surging

Submitted by Tyler Durden on 03/05/2011 12:43 -0500

Proving that Saudi Arabia is a fast learner from both China's and America's experience, today Saudi's interior minister announced he is banning all protests, marches and strikes following the world's realization courtesy of the clip posted on Zero Hedge yesterday, showing that not all is well in the kingdom in which protests are banned. Dow Jones reports: "Top oil exporter Saudi Arabia has banned all protests, marches and strikes in the kingdom after small protests continued over the weekend in the oil-rich Eastern province towns of al-Ahsa and Qatif, interior ministry said Saturday, according to state-owned channel al Ekhbariyah.  These activities don't conform with the Islamic laws and harm the interests of the nation and the society, the Saudi channel quoted the ministry as saying." What does, however, comply with Islamic law is openly using your plunge protection team to bid up the market: "Saudi stocks rose for the first time in three weeks, rallying the most in more than two years, after the finance minister said the Arab world’s largest economy is benefitting from higher oil prices and in “excellent” shape... The state-run General Organization for Social Insurance also purchased stocks, according to Ajeej Capital’s Fuad Aghabi." Not letting a crisis go to waste, Saudi has quickly learned Econ 101 and is now advising its citizens that America's massive economic contraction is its personal gain. And if that doesn't work, it will just use its pension fund to bid up stocks, as a massively Marked to Myth market is apparently in everyone's interest: just ask the Chairsatan.