Oldtent Archives 2007 - 2008

….and he reregistered as Deadeye 1….so he should be able to access if he knows his password…

…..Deadeye we have had a couple one to two hour “outages” lately….maybe you should try again…

…..because he included a copy to me.  He might not have your correct e-mail address. 

Looks most interesting. I read the same thing in Saville’s latest.

Not one I’ve been following, but sure looks sweet. Something (bad?) happened early March @ $0.92 to drop her back to $0.68 in a 3 week period. No idea why, as haven’t done any doo dilly.

Still below 50 & 200 DMA, candles spiking nicely. Huge 600K Volume, MACD Cross up.
(now to figger how one connects a link here) Gimme a little time to ’speriment.

This may … as those English Blokes are fond of saying………”cock up.”

Anyhoo, this’ll be the chart link…mehopes.

stockcharts.com/h-sc/ui?s=GOZ.V&p=D&yr=0&mn=6&dy=0&id=p84121455853

There, after 3 tries, think this will do.

…we can give you a new password from this end if need be ….

http://www.richdad.com/RichDad/RichContent.aspx?cpid=63

 He has not been able to log into the Tent for some reason but hopefully we will get that figured out soon.

Good Evening “Ladies” and “Gentlemen”

www.youtube.com/watch?v=_mNjd-hnxbs&feature=related

Very Best to You All

anotherone_bites_the_dust

I am listening to Dylan Ratigan of CNBC in the background commenting how impressed he is with the market action with all the bad news hitting the tape. Bob Pisani is cheerleading the same comment, citing one bad headline after another. They both articulate the view that the market is looking forward and the incessant bad news is discounted.

Give me a break. Discounted what? $122 oil? A housing market which shows no signs of a bottom? Manufactured, misleading jobs numbers?

This is nothing more than a PPT orchestrated farce. The market managers in the US are petrified that a falling DOW will crush whatever kind of positive consumer sentiment is left out there in America. Therefore, they are throwing everything they have at the market to keep it stable. It’s LOONEY TUNES time.

What makes it worse is almost no one on Planet Wall Street will GO THERE and call a spade a spade. Instead, we get the same scripted drivel about our stock market, as evidenced by the response from the venerable Richard Russell to a subscriber email:

Please Mr. Russell, just once address the notion that the stock market is rigged and that your charts are being handed to you by the Plunge Protection Team? The market isn’t discounting a damn thing! The markets cannot speak any longer. Mr. Market is hog-tied and gagged in the back room while this PPT imposter pulls the wool over your eyes! Seriously. You are starting to remind me of all the people who refuse to see that our elections are rigged. “Not in America,” they tell themselves.

Yes, in America.

The trouble with them, and with you, is: you can’t handle the truth. It would mean that everything you believe in and hold dear is a lie. The DOW Theory only holds true in an honest market, but that’s not what we’re looking at.

There will come a time when the PPT won’t be able to keep its finger in the dyke any longer, as the pressure on the other side will be too great. Then all hell will break loose. But for now it’s curtain time and it’s all a big phony act.

Thank you.

Regards,
Marilyn

Russell Comment — You may be able to manipulate a few stocks or even the market for a day or two, but you can’t manipulate the trend of the market, much as many people would love to be able to do it (even the Fed can’t do that).
………………………………………………..

Good grief, I just heard another Planet Wall Street apologist saying the US is having a tough time, but the rest of the world is doing just fine, and that is why the DOW is holding up. Is this guy in the dollar bull camp too, for the same reason? Huh?

This is without a doubt the most grandiose farce in financial market history. The news could not be more bullish for gold, yet The Gold Cartel won’t let it get out of its own way. And, the stock market news is dreadful as can be, yet it marches higher. The DOW, reversing course all day long, finished up 54 to 13,024. The DOG gained 19 to 2483. AND, the S&P remains in the bullish clear technically, finishing up 11 to 1418.

This morning (like yesterday), and a clue of what was to come with the DOW down 100 before the PPT turned it around, the S&P was much stronger than the DOW and holding its widely watched technical support level (formerly resistance) above 1400. The PPT was not about to let that number fail, which might bring in a wave of technical selling, no matter what news hit the tape.

The more this market manipulation is perpetrated on US financial markets, the more it really does seem like The Stepford Wives or The Matrix. What makes it more so, is the bizarreness of it all in that no one out there is calling the Orwellians on their clandestine operations … that is outside many of us on Planet GATA.

How will it end do you ask? Think the ROADRUNNER cartoon, in which he is spinning his legs like crazy, moving right along, and then realizes he is finally only spinning his legs after going over a cliff, as if he were still on land.

EPIC farce it is, in so many regards….

Jesse:

Financial Madness: Credit Default Swaps

The price discover mechanism of the markets is broken. When the markets revert to the mean we are going to see price gyrations, both up and down, that are going to seem astounding, impossible.

This is not a financial system operating responsibly. This is not even gambling. This is Madness because the wagers can never clear, they will never all be paid. The risk has become a kind of semi-psychotic preoccupation with itself and a mathematical world of its own creation.

People will look back AFTER the crash and say, ‘how could they have allowed this to happen?’

jessescrossroadscafe.blogspot.com/2008/05/looking-into-abyss.html

***

“HOW COULD THIS HAVE HAPPENED?” Remember that line. Well, all they will have to do is review this column over the past years. I fully expect the coming Congressional investigation, looking into the inevitable financial market chaos, to assign two staffers to read through the past decade’s Midas commentary to find out JUST HOW!

On the same farce score…

Bill,
What struck me like a 2 by 4 in yesterday’s Midas was this

QUOTE

JPMorgan says no near end to financial crisis: report

FRANKFURT (Reuters) - JPMorgan Chase & Co (JPM.N: Quote, Profile, Research) does not expect the U.S. financial crisis to end soon and will remain very cautious, its top executive said in comments published by a German weekly on Saturday.

“We can only speculate how deep and how long the recession in the United States will really be and how that in turn will impact banks,” James Dimon told “Welt am Sonntag”.

www.reuters.com/article/ousiv/idUSL0353675920080503

END

You commented on the fact that the article shows the financial crisis is nowhere near an end, but what I thought was stunning was the fact that Dimon does not speculate whether the US is in a recession or not, only how deep and how long it will last!!!

So here we have the CEO of the FED’s Bank, the same guy who sits with Bernanke on a Sunday afternoon, smokin’ cigars, to decide how to bailout Bear Stearns, confirming the US IS IN RECESSION. How could a person who is joined at the hip with the FED and the Treasury have a different PUBLIC opinion than the FED, the Treasury and the Administration?…simple: FED, the Treasury and the Administration are all lying.

GATA has for a long time said the US is in an inflationary recession/depression…its gratifying to see the CEO of JP MorganChase confirm we are right!

P.S. Don’t tell the boys over at CNBC the US is in recession, I don’t think they could handle it!!
Cheers
Adrian

the overall US equity market does well, I have today found some encouragement that I have so desperately craved since about May 2006.  Today at 1:44:00 on jsmineset, Dan Norcini said “Like I and others keep saying - it is a one-way market in which no shorts are permitted no matter what happens since as we all know, a perpetually rising stock market is an American birthright.  Bear markets are simply ‘UnAmerican’  “.

What a relief to have a respected trader and analyst like Mr Norcini say that.  And as a Canadian investor I do not expect my Canadian investments in PM and energy stocks to perform very much differently from the way things perform in the overall US equity market.  Thanks, Mr. Norcini for giving me renewed faith to hang in there with our PM/other metals/energy equity portfolio.    Good luck to all.  Equiz.

I see you’re up to your old self, buddy. That’s the kind of comparative chart I just want to look at for a long while and try to listen to all that it has to say.

“A CLASSIC”!

Thanks a mil!

JBI

HONG KONG (MarketWatch) — Japanese shares rallied early Wednesday, as financials such as Mizuho Financial Group were propped up by a higher finish on Wall Street, while resource stocks such as Nippon Oil Corp. climbed after crude oil prices jumped overnight. The benchmark Nikkei 225 Average gained 0.7% to 14,147.57, as post-holiday trading resumed for the first time this week, on top of the 2.1% jump Friday. The broader Topix index advanced 1.3% to 1,397.15. Elsewhere, Australia’s S&P/ASX index rose 0.5% to 5,729.10 and South Korea’s Kospi gained 0.3% to 1,863.85, while New Zealand’s NZX 50 index declined 0.5% to 3,633.99.

~ ~ ~ ~

TOKYO, May 7 (Reuters) - The 10-year Japanese government bond yield climbed to a seven-month high on Wednesday as dealers returned from holidays in Japan to trade on falls in U.S. 10-year Treasury notes and a rise in equities.

Benchmark U.S. 10-year Treasury notes have fallen in the wake of data late last week that showed the U.S. economy lost a fewer-than-expected 20,000 jobs in April, easing worries that the U.S. economy might fall into a deep recession.

Moves in JGBs remained volatile with June 10-year futures falling by as much as half a point, as a rise in Tokyo share prices and caution ahead of a closely watched 10-year JGB auction on Thursday also helped drag JGBs lower.

“The U.S. 10-year Treasury yield rose to above 3.9 percent during the holidays in Japan and that is leading to some selling pressure,” said Naomi Hasegawa, senior fixed income strategist for Mitsubishi UFJ Securities. June 10-year JGB futures fell 0.29 point from their close on Friday to 135.46 after trimming some of their earlier losses.

The JGB market was closed on Monday and Tuesday for Japan’s Golden Week holidays.

The 10-year JGB yield climbed by as much as 4 basis points to 1.680 percent to hit the highest level in nearly seven months. The 10-year yield later slipped back to 1.660 percent, for a rise of 2 basis points.

Longer-dated U.S. Treasuries fell on Tuesday on concerns about upcoming issuance and as a surge in crude oil prices CLc1 to record highs above $122 per barrel reignited fears about inflation.

On Tuesday, the benchmark 10-year Treasury note’s yield traded near the top of the past three weeks’ range of between 3.92 percent and 3.66 percent.

In the stock market, the Nikkei share average rose around 1 percent .N225 in early trade.

The Finance Ministry is due to offer 1.9 trillion yen ($18.15 billion) in 10-year JGBs in an auction on Thursday.

With the offer coming only about two weeks after JGB futures suffered their biggest one-day drop in five years, investors may take a cautious approach to the auction, market players said.

($1=104.70 yen)

~ ~ ~ ~

Tokyo’s Nikkei 225 Index

…and the rest of the ASIA/PACIFIC REGION tonight:

finance.yahoo.com/intlindices?e=asia

~ ~ ~ ~

The AMERICAS…..

finance.yahoo.com/intlindices?e=americas

Brazil’s Bovespa Index update - bullish flag pattern formation??

~ ~ ~ ~

EUROPE…..

finance.yahoo.com/intlindices?e=europe

~ ~ ~ ~

DOW JONES WORLD STOCK INDEX - “Show me the Money” fast or this rally is about over, imo.

JBI

21,543,270 . . . . . . . . .

PS - Aussie GOLD stocks…..maybe, just maybe.

tinyurl.com/rb8sc

http://stockcharts.com/h-sc/ui?s=GOZ.V&p=D&yr=3&mn=0&dy=0&id=p49624165741

ahead like this current one from Steve Saville.  Once certain investors start reading the PM profit reports, like the one that Barrick came out with today, I think this example from Saville will be one of many PM juniors starting to hit the news headlines.  This is not a stock that we own, but here’s what Saville had to say when referring to Gold-Ore Resources  (GOZ on the TSXV), a stock that he thinks has bottomed out and which he thinks now offers very good value:  “How much value does it offer at Monday’s closing price of C$0.71?  Well, the company is currently producing gold at an annualized rate of 28K ounces and is on track to reach its 70K oz/yr target.  A profitable 70K oz/yr gold mining operation with a 10+ year mine life in a politically-secure location (Sweden) should be worth at least US$ 175M.  GOZ’s current market cap is less than US$ 60M.”

In my opinion these kinds of fundamental figures speak volumes, regardless of what the TA charts show today.   And GOZ is just one example.   Cheers.  Equiz.

Of particular note is the correction in pog after 388.90 and 450 where the divergence ended.

Gold corrected very sharp but fairly briefly , April 2003 looks most like today’s chart and the jrs did great in that 2003 run.

Cmon lucky 7s

Interesting that you mentioned 170 range for oil.  A couple fib extensions also hit the 169-177 area

http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID1842373&cmd=show[s80088820]&disp=P