Gerald Celente: The Crash will happen sometime this month
Germany has rush-ordered the printing of new D-Marks.
"EU preparing bank rescues amid Greece doubts.
Here is a key quote: "All roads now point to a mid-November crunch."
Italy downgrade deepens contagion fears over euro debt crisis.
USTBONDS: The Monster Spleen
By: Jim Willie CB, Hat Trick Letter
Gas For $1.75 A Gallon & Depression Level Unemployment: The USA After A Euro Collapse
By: Daniel R. Amerman, CFA
Currency: The Hidden Portfolio Risk
By: Peter Schiff, Euro Pacific Capital
Gold Down, Stocks Continue Falling as Greek Fears "Destroy Bank Credibility" and Threatens Market Shock "Bigger than Lehmans"
By: Ben Traynor, BullionVault
I am focusing in on the weekly chart to provide a bit of a longer term
perspective as today's action (Tuesday) has put the HUI in very dangerous
technical territory from which it must recover before the week is out in
order to prevent a deeper sell off.
I have drawn in TWO support lines on the chart which have proven to be of
significance to this index. The upper line comes in near the 520 level and
the lower line near the 500 level.
When the HUI broke down below the first line in today's session, it
immediately fell down to the next line or lower support level before
bouncing. Th... more
reefman said...
If any of you men have women at home (or A woman), tell her to watch this. It's a real tear jerker... you'll have her beggin' you to take her out to the coin shop tomorrow morning...
At its very core, to price something complicated, you lay the most similar liquid asset you can find next to it that has a liquid price. You deconstruct the liquid one by its risk premia, and then you reconstruct the one you are trying to price by applying suitable risk premia to it. The output is fair value. All the talk of “Japanification” is just a variation on this theme at a pretty remarkable order of complexity. Call it modeling, call it storytelling, whatever: one compares an economy going through a multi-year banking crisis with one that is just a few years into a banking crisis. Compare trajectories, similarities, and differences. Then figure out what matters and what doesn’t in a macro-sense. One has either past observation to understand reality, or rely on dumb luck to understand future events.
Jim Sinclair’s Commentary
Bernanke Says Economic Recovery Close to Faltering
By MARTIN CRUTSINGER AP Economics Writer WASHINGTON October 4, 2011 (AP)
Federal Reserve Chairman Ben Bernanke says the economic recovery "is close to faltering" and the central bank is prepared to take further steps to support it.
The economy is growing more slowly than the Federal Reserve had expected, Bernanke said Tuesday before the congressional Joint Economic Committee. He said the biggest factor depressing consumer confidence is poor job growth.
"We need to make sure that the recovery continues and doesn’t drop back and that the unemployment rate continues to fall downward," Bernanke said.
Stocks came off their morning lows after Bernanke inferred that the Fed could adopt additional stimulus measures in the coming months. The Dow Jones industrial average had fallen more than 200 points but recovered most of those losses to be down only 64 points at midday.
Bernanke offered his grim assessment after the economy barely grew in the first half of the year and it created no net jobs in August. Consumer confidence fell this summer to the lowest point since the recession. Europe’s debt crisis has also intensified.
More…
Recovery "close to faltering", Fed could act
CIGA Eric
The Fed will act again. Bernanke appears to be listening to the message of the market. A growing list of negative divergences of key intermarket relationships relative to equity prices, new lows unconfirmed by stock prices, illustrates decaying global economic growth.
Copper to Aluminum Ratio:
Chicago Fed Economic Activity Index:
Bill Gross said it best, recession risk overtaking new normal. I agree.
Anyone that believes the Fed’s response will be anything but QE to infinity because gold and the gold shares continue to get pounded, simply fail to recognize the role paper operations, often referred to as open interest flushes, play in trend control.
Headline: Recovery "close to faltering", Fed could act
(Reuters) – The Federal Reserve is prepared to take further steps to help an economic recovery that is "close to faltering", Fed Chairman Ben Bernanke said on Tuesday.
Citing anemic employment, depressed confidence and financial risks from Europe, Bernanke urged lawmakers not to cut spending too quickly in the short term even as they grapple with trimming the long-run budget deficit.
He also made clear the Fed — the U.S. central bank — stands ready to ease monetary conditions further following its launch of a new stimulus measure in September.
Source: reuters.com
More…
Dear Jim,
Feel free to comment & share with other CIGA’s: http://profitimes.com/free-articles/goldstocks-bottom
Kind regards,
CIGA Willem Weytjens
www.profitimes.com
Earlier today, the markets tanked on Europe concerns. Gold & Gold Stocks were not spared.
While everybody is in panic mode, it’s time to look at some interesting charts.
Let’s start of with the HUI index:
* The RSI reached oversold levels
* Price retested the breakout line that has been in place for the last 3.5 years
* MACD is very oversold
The GDX (Market Vectors Gold Miners ETF) is showing a similar picture:
Although GDXJ (Market Vectors Junior Gold Miners ETF) does not exist long enough, it also penetrated it’s breakout zone.
* The RSI is very oversold
* Price has reached the target of the Head & Shoulders pattern on the Logarithmic chart
* MACD is very oversold
When measured in gold, CDNX, a list of Resource Exploration companies (and some Tech Companies), is as cheap as it was at the bottom in 2008:
In short, I think mining stocks are at (or very close to) rock bottom levels.
Let’s have a look at Gold:
During the last 11 years of this Bull market, gold has often corrected.
As we can see in the chart below, most of the times, the correction was halted by the 35 weeks Exponential Moving Average.
So far, this 35EMA has stopped the correction as well, and the RSI is hoovering around 50 on a weekly basis, which is still a bullish sign. I have highlighted previous buying opportunities with a green circle. Will this time be any different?
Charts above courtesy stockcharts.com
The chart below is an update of the comparison I made a couple of weeks ago between the Gold Price NOW versus the Gold Price in 1979. The pattern is also suggesting that we could be close to or at a bottom:
Germany has rush-ordered the printing of new D-Marks.
"EU preparing bank rescues amid Greece doubts.
Here is a key quote: "All roads now point to a mid-November crunch."
Italy downgrade deepens contagion fears over euro debt crisis.
USTBONDS: The Monster Spleen
By: Jim Willie CB, Hat Trick Letter
Gas For $1.75 A Gallon & Depression Level Unemployment: The USA After A Euro Collapse
By: Daniel R. Amerman, CFA
Currency: The Hidden Portfolio Risk
By: Peter Schiff, Euro Pacific Capital
Gold Down, Stocks Continue Falling as Greek Fears "Destroy Bank Credibility" and Threatens Market Shock "Bigger than Lehmans"
By: Ben Traynor, BullionVault
HUI Weekly Chart needs to improve - very soon
Trader Dan at Trader Dan's Market Views - 2 hours ago
Ned Naylor-Leyland: CFTC lets Morgan get away with rigging silver market
reefman said...
If any of you men have women at home (or A woman), tell her to watch this. It's a real tear jerker... you'll have her beggin' you to take her out to the coin shop tomorrow morning...
Zero Hedge Kindly Requests The Immediate Resignation Of Mary Schapiro For Gross Breach Of Professional Responsibilities
Ever wonder why the final SEC report on the flash crash doesn't match up to the forensic evidence found by Nanex? It seems the SEC/CFTC failed to disclose they didn't get around to interviewing the traders that actually executed the algorithm blamed for dumping 75,000 emini contracts on the market "without regard to price or time" until 2 weeks after publishing their final report on the flash crash! Apparently, they were making a lot of things up to fit a foregone conclusion. According to the media, it was Waddell & Reed who executed those trades right? Well, no. Barclays executed the contracts using their time tested algorithm called Participation. You simply can't crash a market with the Participation algorithm. This is an algorithm that in fact has sophisticated price and time components. This is an algorithm that would only sell at the offer -- and never at the bid. This was discovered and pointed out by Nanex after just one day reviewing the actual 6,438 eMini contract trades (75,000 contracts) which ZeroHedge helped obtain. But the media was happy to hang the guilt on an out of town mid-west Mutual Fund company, and besides all this stuff was getting way too complicated. After all, when it comes to such complexities, it is only economy PhDs who are fit to opine at will. Only the SEC/CFTC wasn't counting on anyone double checking their work..Guest Post: Heresy And The U.S. Dollar
There is only one word to describe the opinion that the U.S. dollar is in a multi-year uptrend: heresy. Understanding why this is so may well be critical to understanding market action in the 2011-2016 timeframe. Embracing the contrarian viewpoint offers little joy, because heretics are constantly being hounded by devotees of orthodoxy seeking their conversion to the one true faith or their crucifixion as mortal threats to the orthodoxy. Why is this so? For two simple but profound reasons. The human mind strongly prefers certainty to uncertainty and simple, fixed explanations over complex, contingent explanations. The human mind has a second, superglue-like quality: Once a viewpoint has been plucked from the swirling chaos of beliefs and explanations, then the mind quickly solidifies that view, resisting any future modification. Very little energy is devoted to questioning the position, while enormous energy is devoted to defending it.Guest Post: Credit Spreads In The New Normal
At its very core, to price something complicated, you lay the most similar liquid asset you can find next to it that has a liquid price. You deconstruct the liquid one by its risk premia, and then you reconstruct the one you are trying to price by applying suitable risk premia to it. The output is fair value. All the talk of “Japanification” is just a variation on this theme at a pretty remarkable order of complexity. Call it modeling, call it storytelling, whatever: one compares an economy going through a multi-year banking crisis with one that is just a few years into a banking crisis. Compare trajectories, similarities, and differences. Then figure out what matters and what doesn’t in a macro-sense. One has either past observation to understand reality, or rely on dumb luck to understand future events.
Jim Sinclair’s Commentary
QE to infinity.
Bernanke Says Economic Recovery Close to Faltering
By MARTIN CRUTSINGER AP Economics Writer WASHINGTON October 4, 2011 (AP)
Federal Reserve Chairman Ben Bernanke says the economic recovery "is close to faltering" and the central bank is prepared to take further steps to support it.
The economy is growing more slowly than the Federal Reserve had expected, Bernanke said Tuesday before the congressional Joint Economic Committee. He said the biggest factor depressing consumer confidence is poor job growth.
"We need to make sure that the recovery continues and doesn’t drop back and that the unemployment rate continues to fall downward," Bernanke said.
Stocks came off their morning lows after Bernanke inferred that the Fed could adopt additional stimulus measures in the coming months. The Dow Jones industrial average had fallen more than 200 points but recovered most of those losses to be down only 64 points at midday.
Bernanke offered his grim assessment after the economy barely grew in the first half of the year and it created no net jobs in August. Consumer confidence fell this summer to the lowest point since the recession. Europe’s debt crisis has also intensified.
More…
Recovery "close to faltering", Fed could act
CIGA Eric
The Fed will act again. Bernanke appears to be listening to the message of the market. A growing list of negative divergences of key intermarket relationships relative to equity prices, new lows unconfirmed by stock prices, illustrates decaying global economic growth.
Copper to Aluminum Ratio:
Chicago Fed Economic Activity Index:
Bill Gross said it best, recession risk overtaking new normal. I agree.
Anyone that believes the Fed’s response will be anything but QE to infinity because gold and the gold shares continue to get pounded, simply fail to recognize the role paper operations, often referred to as open interest flushes, play in trend control.
Headline: Recovery "close to faltering", Fed could act
(Reuters) – The Federal Reserve is prepared to take further steps to help an economic recovery that is "close to faltering", Fed Chairman Ben Bernanke said on Tuesday.
Citing anemic employment, depressed confidence and financial risks from Europe, Bernanke urged lawmakers not to cut spending too quickly in the short term even as they grapple with trimming the long-run budget deficit.
He also made clear the Fed — the U.S. central bank — stands ready to ease monetary conditions further following its launch of a new stimulus measure in September.
Source: reuters.com
More…
Dear Jim,
Feel free to comment & share with other CIGA’s: http://profitimes.com/free-articles/goldstocks-bottom
Kind regards,
CIGA Willem Weytjens
www.profitimes.com
Earlier today, the markets tanked on Europe concerns. Gold & Gold Stocks were not spared.
While everybody is in panic mode, it’s time to look at some interesting charts.
Let’s start of with the HUI index:
* The RSI reached oversold levels
* Price retested the breakout line that has been in place for the last 3.5 years
* MACD is very oversold
The GDX (Market Vectors Gold Miners ETF) is showing a similar picture:
Although GDXJ (Market Vectors Junior Gold Miners ETF) does not exist long enough, it also penetrated it’s breakout zone.
* The RSI is very oversold
* Price has reached the target of the Head & Shoulders pattern on the Logarithmic chart
* MACD is very oversold
When measured in gold, CDNX, a list of Resource Exploration companies (and some Tech Companies), is as cheap as it was at the bottom in 2008:
In short, I think mining stocks are at (or very close to) rock bottom levels.
Let’s have a look at Gold:
During the last 11 years of this Bull market, gold has often corrected.
As we can see in the chart below, most of the times, the correction was halted by the 35 weeks Exponential Moving Average.
So far, this 35EMA has stopped the correction as well, and the RSI is hoovering around 50 on a weekly basis, which is still a bullish sign. I have highlighted previous buying opportunities with a green circle. Will this time be any different?
Charts above courtesy stockcharts.com
The chart below is an update of the comparison I made a couple of weeks ago between the Gold Price NOW versus the Gold Price in 1979. The pattern is also suggesting that we could be close to or at a bottom:
So sit tight and be right.
For more updates and analyses, visit Profitimes.com!
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