Oldtent Archives 2007 - 2008

Make mine on the roof, and a rod and reel for diving.

Nothing but blue…….skyyys

its_real

Hello, I did notice. Seeing y2kdon’s chart from this morning made things look even better! That spike down to touch the bottom of the channel portends good things (hopefully).

Best, MadMike

How about it??  I’ve got several mining stocks that seem itching to exploded.  I just noticed FCX had a really strong close.  I just closed my eyes and bought the Feb $80 calls in the depth of despair today.  That position doubled by the close.  My JPM put position on the other hand halved itself by the close.  Should have closed the whole thing; i’m not really comfortable on the short side for the time being and I hope the whole market rips for a good while.  Such are the ways of the rough and tumble options market.  It’s sure to put lots of hair on your chest guys (all course borrowed from the top of our heads!). 

I really hope the small caps do well going forward.  I noticed the pummelled small cap index has outperformed the DOW this week +3% to +1.5%.  If the big index players continue to throw it long small caps, you can bet we’ll get a good bounce in many of those.  Nonetheless, the SM rally needs legs.. meaningful follow through … for this to work.

http://stockcharts.com/h-sc/ui?s=PNP.TO&p=D&yr=0&mn=1&dy=0&id=p33890985106

Many thanks for the PNP chart. That light at the end of the tunnel might not be a train.

What amazes me is that someone with the stature of Dr. Martin Murenbeeld, who I posted about here a couple of days ago to just_buy_it, actually recommended over the airwaves the other day that investors interested in the PM’s were lucky to now have vehicles like GLD  available to purchase.  I am sending a copy of the gold-eagle editorial that you just posted to Dr. Murenbeeld for his consideration.  Even though Dr. Murenbeeld lives is the same city as I do, I have never met him and I would not expect an answer, although I will invite him to respond if he wishes.  Equiz

I got chucked off g-e for arguing those points when the first etf came out.  Now in an editorial.

… to someday be able to wear solid gold cufflinks on the cuffs of a pure white shirt, as I put another PM bar into safe storage in my woodpile - cufflinks just like we see at the ends of Mr. Bernanke’s arms in the photo titled ‘Pictures speak a thousand words’, posted at 03:46:00 on jsmineset on 23 Jan 08. 

I will try to get a picture of my wrists with solid gold cufflinks  when my dream comes true.  A pleasant evening to you.  Equiz.

This is a great read. 

SO…YOU WANT TO SELL YOUR GOLD STOCKS
AND BUY THE GOLD AND SILVER ETF’s?

http://www.gold-eagle.com/editorials_08/greene012208.html

I don’t trust Cramer at all. I think he was just “going

for show” with Ron Paul. I’m sure that Cramer knows

that without the FED providing cheap money the

jig would be up. That’s why he was crying for the

FED to start cutting rates so that his buddies wouldn’t

get killed (they did anyway).

The FED didn’t cut rates to help the stock market. They

cut rates to help the big banks that provide cheap money

to the stock market.

Auric

Jan. 23 (Bloomberg) — The Federal Reserve, which yesterday announced its first emergency rate cut since 2001, is ignoring history’s lessons and risks re-igniting more asset bubbles, economists at the World Economic Forum annual meeting said.

The Fed is saying “we are there to clean up after bubbles first rather than to prevent the danger,” Stephen Roach, Morgan Stanley’s Asia chairman, said in a panel discussion in Davos, Switzerland. “It’s a dangerous, reckless and irresponsible way to run the world’s largest economy.” 

http://www.bloomberg.com/apps/news?pid=20601170&refer=special_report&sid=alohzhP61Auo

23 January 2008

US recession, Fed Funds Cut to 2.25%

NEW YORK, Jan 22 (Reuters) - UBS now sees the United States in a recession in the first half of 2008, as the persistent housing slump and financial market woes have spread into the broader economy, the investment bank said on Tuesday.

UBS also revised its forecast on how far the Federal Reserve would slash the key federal funds target rate to 2.25 percent later this year in a bid to revive growth.

U.S. gross domestic product is expected to contract 1.0 percent in the first quarter and 1.5 percent in the second quarter before growth in the second half of the year, UBS said in a research note on Tuesday.

Meanwhile, UBS said the Fed would lower the fed funds target to 2.25 percent before the end of the third quarter, compared with its earlier forecast of 3.25 percent.

The bank said in a research note that it does not expect the U.S. central bank to opt for an intermeeting rate cut “without a crash in the equities market.”

http://jessescrossroadscafe.blogspot.com/2008/01/us-recession-fed-funds-cut-to-225.html

“TOKYO, Jan 24 (Reuters) - Japanese stocks surged 1.4 percent on Thursday after a Wall Street rebound on optimism that a rescue plan for U.S. bond insurers may be in the offing, with Japanese emergency stock market proposals also giving a boost. Exporters such as Canon Inc climbed, while battered property shares were snapped up by investors seeking bargains. Banks gained on strength in their U.S. peers. The benchmark Nikkei .N225 was up 1.4 percent at midsession at 13,013.92 after earlier rising as high as 13,134.77. The broader TOPIX was up 1.9 percent at 1,273.89.”

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Asia/Pacific Region……..all GREEN across the board

finance.yahoo.com/intlindices?e=asia

~ ~ ~ ~

Aussie GOLD stocks……………

tinyurl.com/rb8sc

~ ~ ~

The Precious Metals…….Platinum leading the way again, UP $19 and less than 2% from another all time high

www.gold-eagle.com/intra-daykit.html

~ ~ ~

And the US $$$$$$………

tinyurl.com/2voq5s

JBI

http://www.briefing.com/Investor/Public/Calendars/EconomicCalendar.htm

this is it for the week as far as economic numbers go.   Should be interesting.

China’s 2007 PPI up 3.1% on year vs 3% rise year ago

China’s Dec. producer price index up 5.4% on year

China’s 2007 retail sales up 16.8% vs 13.7% rise year ago

China’s Dec.retail sales up 20.2% on year

China 2007 urban fixed asset investment up 25.8%

Go figure!

Overseas report coming up soon….

JBI