Showing posts with label nav. Show all posts
Showing posts with label nav. Show all posts
08 November 2012
23 March 2011
Net Asset Value of Certain Precious Metal Trusts and Funds
Gold is right up against the big inverse head and shoulders neckline around 1440.
I am struggling to see a breakout here, but it is possible. The last big neckline breakout took place around a failed option expiration gambit.
Maybe Jamie is too preoccupied with the largest unsecured, non-syndicated bank loan every (to AT&T as a bridge loan to buy T-Mobile) to worry about Blythe's capital needs.
I think this AT&T acquisition, and its very rich price, is indicative of what is wrong with the US economy. Money is being generated and held by fewer hands who continue to use it to consolidate their economic and political power.
But these things ebb and flow. The mighty sow their own destruction in their excesses and their overreach. The reign godless as if triumphant, until they fall back upon their knees. It can be a curse or a blessing, to see the true face of that which you serve.
I take profits, holding bullion but trading paper, and retire to the kitchen for the evening trade.
The appetites and customers seem unchanging, but there is always something a little different on the menu if you look carefully. And over long periods of time, tastes and fashions will change back and forth, but the basic ingredients remain the same.
17 February 2011
28 January 2011
Net Asset Value of Certain Precious Metal Trusts and Funds
It will be interesting to see if this is a rounded intermediate correction and consolidation followed by a resumption of the fundamental trend and a new breakout higher, as we had seen in May-August last year.
More on this tonight.
24 January 2011
06 December 2010
16 November 2010
Net Asset Value of Certain Precious Metal Trusts and Funds
I have reopened a 'long bullion - short stocks' paired trade as of yesterday weighted to rather net short stocks but have added to the bullion side here to make it more 'balanced.' I like to capture profits on one side of the trade by adding slowly to the other side if I am running imbalanced but one has to be careful with this approach. The less experienced are better off in cash here, waiting to see where things settle down.
It will be interesting to see if support on the SP futures holds above 1174. I could be adding to the short US stocks position depending on how things progress.
There will be no sustained recovery or financial stability while the market is dominated by TBTF institutions supported by cheap money from the Fed. It really is all about the reform, or lack thereof, and a system that is based on political corruption, insider dealings, and control frauds by con men, what Charles Hugh Smith has called the banality of evil.
The financial jackals will need to look for fresh prey and new hunting grounds.
"The biggest opportunity for us is not necessarily to do more things, but to be Goldman Sachs in more places." Lloyd Blankfein
And the developed nations and their people in their suffering might keep this more famous aphorism in mind:
"Le secret des grandes fortunes sans cause apparente est un crime oublié, parce qu' il a été proprement fait." (Behind every inexplicably great fortune there is a crime that remains undisclosed because it was well executed.) Honore de Balzac, Le Père Goriot
22 October 2010
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