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Over on the intraday gold chat, PitBull has posted an article about JPM borking gold :shocked and saying to stay long.

 

Does this mean they've got some kind of gov't guarantee on their gold derivatives, or are they just suicidal? Or are they planning a big rug-yanking from under the new gold bulls?

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Richmtn,

Those cans are way before my time but, I am sure glad I got to New York before Reingold, Piels and so many other only in NY things disappeared. So many have. The whole country is going vanilla. In my home town of Richmond, they had a local brew called Richbrau. Gone with the wind.

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I show Bradley high near 1/20 .... + or - 2 days..

That was the date I was thinking. It's 13 fib day after last low- 1/31? Someone posted a chart last week and the 1/20 had a symmetry to it imo.

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SG dings in

 

wave 2 intra-day retrace under way, as warned....

 

26.88 26.96 levels to watch

 

This is typical at Major wave 2 tops, where bears shit fast and cover too quickly....

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Shorting GM ahead of the AM earnings release. 20% position and will build remaining 80% on any lift. I suspect they will beat estimates but there are several factors that IMHO the market is ignoring:

 

1) GMH warned today. They have nearly reached saturation and have recently cancelled DirectTv DSL. This divion is getting less and less attractive at a time when GM needs to sell this division to finance pension.

2) This week the automakers lost a supreme court ruling making them liable for asbestos exposure from brake pads. Of course the stocks have rallied 4% on this news.

3) Today GM announced that GMcard holders would be able to apply 400% of their accrued rebates to the purchase of a new car. This is above and beyong all the other rebates being offered. Absolute desperation.

 

My timeframe is 3-6 months.

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Guest The CoinGuy

Rog,

 

Are you sure about this 400% rebate with GM cards? I have 5k on my card, and am "currently" looking for a new summer car(leaning towards a Corvette)...Do you have a link? Sounds to good to be true, but I'm sure hoping it is.

 

At first glance, this sounds more than desperate, it sounds suicidal...

 

TCG

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SG,

I don't think that call you made earlier for QQQ @ 26.88 was that great. I have been watching it for 15 minutes and have only seen one tick @ 26.88. B) :blink:

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