29 August 2012

SP 500 and NDX Futures Daily Charts - Updated After the Close


Charts are a little early today but will be adjusted if anything significant happens into the close.

Note: charts have been updated. Apparently they dumped the futures to the opening price in the last half hour of trade. Very technically traded market. Pretty much infested by key punching day traders and computer algos.

Have a pleasant evening.





Gold Daily and Silver Weekly Charts


Charts are early this evening. They will be updated if there are any significant changes.

It's back to school time for the college bound, and final flings for the young ones.

As previously noted gold and silver bullion positions are hedged.

Have a pleasant evening.





Net Asset Value Premiums of Certain Precious Metal Trusts and Funds



Silver premiums remain remarkably low when compared to gold.



Taibbi: The True Story of Mitt Romney and Bain Capital



For a related story read The Federal Bailout That Saved Mitt Romney also from Rolling Stone.

Greed and Debt: The True Story of Mitt Romney and Bain Capital
By Matt Taibbi
August 29, 2012

The great criticism of Mitt Romney, from both sides of the aisle, has always been that he doesn't stand for anything. He's a flip-flopper, they say, a lightweight, a cardboard opportunist who'll say anything to get elected.

The critics couldn't be more wrong. Mitt Romney is no tissue-paper man. He's closer to being a revolutionary, a backward-world version of Che or Trotsky, with tweezed nostrils instead of a beard, a half-Windsor instead of a leather jerkin. His legendary flip-flops aren't the lies of a bumbling opportunist – they're the confident prevarications of a man untroubled by misleading the nonbeliever in pursuit of a single, all-consuming goal. Romney has a vision, and he's trying for something big: We've just been too slow to sort out what it is, just as we've been slow to grasp the roots of the radical economic changes that have swept the country in the last generation.

The incredible untold story of the 2012 election so far is that Romney's run has been a shimmering pearl of perfect political hypocrisy, which he's somehow managed to keep hidden, even with thousands of cameras following his every move. And the drama of this rhetorical high-wire act was ratcheted up even further when Romney chose his running mate, Rep. Paul Ryan of Wisconsin – like himself, a self-righteously anal, thin-lipped, Whitest Kids U Know penny pincher who'd be honored to tell Oliver Twist there's no more soup left. By selecting Ryan, Romney, the hard-charging, chameleonic champion of a disgraced-yet-defiant Wall Street, officially succeeded in moving the battle lines in the 2012 presidential race...

Read the rest here.