Loading ...Just wanted to give you a shout this evening. Behind in reading all the posts (whats new huh?), but from what I gather you been experiencing some trying times.
Here’s a wish for you to get some rest, and that things run a little more smoothly, AND, that you stay safe.
Best, Farmboy
You may be the only one with that mindset….even Prector …the King of Eliot Waves…changes his counts…have we heard his gold to 200 call lately ?
“The acceleration in real GDP growth in the second quarter primarily reflected a larger decrease in imports, an acceleration in exports, an acceleration in PCE, a smaller decrease in residential fixed investment, and an upturn in state and local government spending that were partly offset by a larger decrease in inventory investment.”
If only this was the truth.
Let’s dig in.
Buried in that release is the real outrage:
“Domestic profits of financial corporations increased $24.7 billion in the second quarter, compared with an increase of $37.3 billion in the first. Domestic profits of non-financial corporations decreased $46.9 billion in the second quarter, compared with a decrease of $32.1 billion in the first.”
Excuse me?
Do you actually expect me to believe that profits of financial corporations increased by $24.7 billion (or that they did so in the first quarter either)?
Am I smoking something or did not the financial sector report decreasing profits in the second quarter, and in fact, many reported absolutely stunning losses?
An increase on-balance? You expect me to believe that?
You must be joking.
That’s what it boils down to isn’t it?
Those of us that have bought into financial armageddon and those that have not.
If you have a viewpoint that things will be rough but turn out okay then gold becomes pretty much what it has been for the last 30 years - just another commodity.
If you believe financial armeggedon, then gold is viewed as a currency.
Hang on to that ole straw hat. I might need to borrow it to take up a collection on the street corner in town if these gold stocks dont get to moving along. (I think they will shortly)
Best to you this evening, Farmboy
One more point - I have never changed a long count in a very long time - in fact since I was just starting many decades ago. I used the stubby pencil chart to show that.
Because some 250 people trot out this chart then change it - well I have never done that. My record here is proof - do a search with aurum as a parameter. Occasionally I add a comment or clarify a statement but those are clearly shown as such.
I may be wrong, but I do not cheat. As far as the cretin thing, as a true waver, as I have many times posted here, short time events can be affected, but the big picture is written in stone and the cretins cannot change that. So why would I join them?
aurum
..How are the US Elections being perceived..and whats the tone with respect to the made in US Financial mess ?
Need to replace $223 billion in maturing debt by Sept. 30th
http://www.nysun.com/real-estate/fannie-freddie-shares-slump-bonds-rise-on-bailout/84339/
If the Chinese and Russians are selling, who will buy and what interest rate?
Sambuca it sounds like the pressure is getting to you. Give the personal attacks a rest; you are a bore. If you don’t like our “garbage” opinions… then just exercise the scrollie wheel. If you want to meet me in the pit; let’s do it.
..cheers FGC
….and we w have a template for reasonable debate..without personal attacks…
….you damn Cretin
Thanks, will pass it back..other nurses.Not being a computer wiz, I won’t take that chance. You know Im usually not political althought got in the congressional records once. But Im hoping Obama isn’t now trying to use his color to try to associate or compare himself with or use Martin Luther King. Obama who came into the world with a better life because of people like King. There is no way he could even come close to filling his boot straps, or what M. Luther was about.His past actions have showed that..nothing. King stood up against adversity, not because he wanted to run for president or any personal gain, or associated with radical groups to my knowledge,but because he wanted to help people. No matter what peoples views are, Im sure people could see that less they are blinded. Now I will stay out of political debates, but just had to say something about that.
Well we will have to leave it there. Obviously I don’t see Armageddon as I have 60% of my money in the general stock market. Maybe 10% so far in XLF. A small percentage in GDX on my rolling out. About 30% ready to invest in RUT or the like.
But we have been able to post vastly different views and that is what the Tent should be - no?
Each has had both sides presented - a fair hearing. Now we wait for hindsight.
aurum
as the Gold train prepares to leave the station.
Dont know who to give credit to for this chart long ago saved to my faves….but has been a faithful signal in the past.
http://stockcharts.com/h-sc/ui?s=$GOLD:$XAU&p=D&en=&id=p16524337621
Norcini’s take on the bagholders.
What we think we know is that the ECB, BOE, JCB and the Fed are supporting the dollar, perhaps thru selling their currencies and buying UST’s. We also know that China has been selling some of the Fannie and Freddie bonds.
I wonder if that is why we tend to see dollar weakness in Asia in the overnites and then dollar strength as we get the open in Europe.
This week is a tough week to guage much of anything. Low volume and big money on vacation. If I were long the broad markets, this rally into the weekend would make me nervous. I don’t know what will happen when the boyz get back next week, but it’s hard to imagine they’d be buying with both fists.
Then again, they always do the unexpected.
Don’t Fannie and Freddie have to sell something like $200 billion in bonds next month? If there are buyers, what will be the price of the risk?