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Monthly Digger - October 2008


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The spot silver chart used to take a month to travel through a dollar range now it takes hours.

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thanks for the financial sense article

 

time is becoming more and more compressed. i am using 5min charts, which show xau/hui finished a 5wave up move about an hour ago and we are into the correction of that. dharma

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Just enforcing your fundamentals as they apply to technicals.

 

Tuesday, September 30, 2008

 

The cause of the crisis is the inability of the consumers to continue requesting commercial banks to manufacture new money to service the existence of the previously manufactured money.

 

There are trillions of dollars of transactions that take place in the global economy every 24 hour period.

 

These multi 100 billion dollar injections are into global liquidity flows that at peak times hit can easily spike up to 1 Trillion dollars in an hour for brief periods.

 

The ECB liquidity injections are like trying to put out the sun with a water balloon.

 

(guess who]

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AgentSmith  ,

 

Here's a great article on Mark to Market rule change . Best i've read yet . And follows my thinking .... that hiding the problem only magnifies it in the eyes of the market . The reason we are were we are is not because of Mark to Market but because much of what the banks have hidden in Level III assets which are marked to best guess . This is why the banks are not going to recover any time soon , taking away Mark to Market will only add to the lack of trust on Bank balance sheets and money will continue to leave this sector for others that have more clarity .  Regulations like these we definitely need less of .... 

 

Anyways the article below is quite insightful

 

http://bigpicture.typepad.com/comments/200...-to-market.html

 

Regards

VS

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Recover??!! Money leave the sector??

100% since July and a 6% divvy to boot, as well as cartel membership. Take a look at the other ones...JPM, BAC, WFC, USB.

 

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As for gold, you can see what is going to happen....

 

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rambling thoughts .. trying to think a bit differently.

 

we could of changed the mark to market rule weeks ago. it's a simple accounting change and would have ballooned the assets of all the companies that "failed". they chose not to. they wanted this to happen .. for these companies to die, to pillage their assets for pennies on the dollar (and collect the bounties on the company heads). a brilliantly executed move. the public had their chance to get their hands on these grubby assets for pennies as well .. and they voted a collective NO. now, they get what they wanted .. this window of company canabalizing is closed and only a few rich, power, & opportunistic people will benefit. no more failures for quite awhile now. a new era of papering over all that is physical begins. the next stage begins. the people will, again, get what they wanted!!!! :) careful what you wish for...

 

alternative .. my more traditional thoughts:

 

Let the domino of failures begin. Death to all financials, hedge funds, widget producers (GMAC/GE), who are all connected at the hip while they climb this cliff. Oops, man down......

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thursdays are often important transition days, marking key highs/lows. (CLARIFICATION: see August 15, 2008 and September 11, 2008)..... it had better be a key low for us. our base is still intact, but we need movement here. tuesday i thought it may have been the last touch of the base before liftoff. that appears incorrect but is no problem as long as today is in fact 'that day'. otherwise have to rethink.

 

looks like they'll get the votes this time around ...

 

hope 'bout them job numbers. what more does gold want .. all i can think of is that it's just being bombarded on the paper markets. and the us dollar is stronger than the euro because we are "united paper pushers" while euro is more fragmented. yay.

 

edit: GLD $.60 off lows, must hold this area and move higher.

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835 cash as of right now. <_< Many folks seems to be looking for the wrong reasons to stay long still. I repeat, we are in the midst of a major credit contraction stage ie, extreme asset deflation. Not even gold will hold its value. Gold's bull market lasted when there was a blowoff in credit expansion from 2003 to early 2008. Major support levels that were previously held were 850, 750 and then in my view 650 is on deck. All of the major currencies have broke below their 9/11 swing low. It doesn't take much of a chartist to see that the metals are breaking down now as well. The only bull market out there is US debt obligations and US Dollars.

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