15 June 2010

SP Daily Chart - Wall Street Pushes CBOE Out the Door to Double Digit Gains


As I cautioned, between the IPOs that were coming out, with Goldman in a key role, and the quad witch for June at the end of this week, the US financial markets would be Shenanigans Central, especially on these light volumes and happy talk from the government.

The manipulation, fraud, and corruption in the US financial markets is remarkable for its obviousness.





CBOE IPO shines, may prompt more IPOs
By The Associated Press (AP)

CBOE IPO SHINES: Shares of options exchange CBOE Holdings Inc. logged double-digit gains in their trading debut. It was a rare success in what has been a tough year for initial public offerings.

THE GOODS: CBOE's rapid growth, exclusive products and potential to be acquired made it attractive. The exchange created the VIX, or the Chicago Board Options Exchange Volatility Index. It is a closely watched gauge of market volatility also known as the "fear index."

CRACK IN MARKET: While demand for most IPOs remains tepid, CBOE's success may prompt high-profile companies in the pipeline to set a trading date.

The US dollar was severely overbought, remniscent of the eurodollar short squeeze that took it to about this level a couple of years ago. As the euro rallied today so the dollar fell. This *could* just be a normal correction in an amazingly sharp rally. I have marked the target lows for this correction if that is what it is.


Net Asset Value of Certain Precious Metal Funds and Trusts



14 June 2010

Gold, Silver, and the Mining Index with the SP 500 for the 'Quad Witch' This Week


This is one of the big four 'quad witch' weeks for US equities, and Goldman is bring out some IPO's including the CBOE. So as previously said, we'll look for shenanigans on light volumes as the trolley dodgers try to stay out of the way of intermittent headline risks and keep that perfect trading score going.

When frauds like the US financial markets become this obvious and blatant, it is frequently a sign that they are nearing the endgame, or perhaps more properly, an implosion. But never poke a cornered skunk, you have to smoke them out.

Gold



Silver Daily Chart



Silver Weekly Chart



HUI Mining Index - Weekly Chart

Some might notice a trend on this chart. That trend would not hold up in a general stock market crash.



US Long Bond

Big Daddy looks about read to take a dump.



SP 500 Sept Futures Hourly chart



SP 500 Longer Term Cash Chart



SP 500 Correlated to Bernanke's Quantitative Easing Program



Chart Courtesy of James Turk