GregFokker Posted December 8, 2004 Report Share Posted December 8, 2004 Which means observing reality with as much objectivity as possible, mulling it over in the intuitive mind, sleeping on it, then doing what feels right internally. <{POST_SNAPBACK}> I agree with that- but emotion is tough to control when the picture is as bleak as it objectively is. Lady Fokker was involved in a car accident yesterday, a 16 car pileup. The icy highways were left unsalted because the city workers are applying "pressure tactics" in their perpetual push for more wages & benefits. Lady Fokker drives a small Hyundai because that's all we can afford, and thank G-d wasn't injured. But I was in a fornicateing pissy mood, and when my mom called to say hi, she started criticizing my "negative tone". I explained, at the top of my lungs, that I SHOULD be pissed, and that a normal person would be in a negative mood after such an event. I swear, there's a movement of people abdicating their own bloody minds. Common sense is crashing faster than any ticker. Link to comment Share on other sites More sharing options...
Guest Posted December 8, 2004 Report Share Posted December 8, 2004 Well, was that it? Is the metals correction over? Can I come out now? Do I have to take those iodine pill thingies? Link to comment Share on other sites More sharing options...
DrStool Posted December 8, 2004 Author Report Share Posted December 8, 2004 Unlce Buck is putting on quite the show this morning. As a result gold priced in USD has gone through the floor, having busted right through the first support level cited in the Golden Stool, currently sitting right at the second "support" level". Buck has risen 1.60 since last night. Intervention at its finest. The 3 day cycle cmap looks like 82.68, vs a high so far of 82.73. They overshot the 24 hour cmap of 82.50. the 8 hr cmap was 82.65. With all those targets hit, I'd expect a roll over. There are no sell signals yet, even down to cycles as short as 5 hours. Sell signals are likely to be late on this. I'm still skeptical about this. Let's see where they are at 3:00. If they can hold above 82 it's at least a short term turn. We'll see. Stay up to date on the big picture in the Uncle Buck report, a regular feature of the Anals of Stock Proctology. Click the link below this post to subscribe, and get instant access. Bond yields are dropping like a stone. How convenient. The 5 year note auction is today. I will give you all the gory details on how that goes, and how much support the FCB's give in the Fed Feed Report, a daily feature of the Anals of Stock Proctology, usually posted around 2:00PM. Click the link below this post to subscribe, and get instant access. At the moment, the 5 hr cmap on $TNX looks like 4.177. They got to 4.181 so far. The 3 day cmap appears to be around the same level. Stay up to date on the big picture including short term and intermediate targets and trend signals, in the Long Bong Hit report, a regular feature of the Anals of Stock Proctology. Click the link below this post to subscribe, and get instant access. Stocks are off their overnight lows. Over in Stooltrading we are looking at how a 3 day cycle swup will play out. Join me and your fellow stoolies there, as I keep you updated on all the twists and turns of the intraday cycles including cycle signals, time junctures, and price targets on SPX, SPY, HUI and QQQQ! I will post updates on Buck and Bond here as time permits. See you in Stooltrading! Link to comment Share on other sites More sharing options...
capitall Posted December 8, 2004 Report Share Posted December 8, 2004 Well, was that it? Is the metals correction over? Can I come out now? Do I have to take those iodine pill thingies? <{POST_SNAPBACK}> Time will tell. It's relatively cheap and easy for Big Money to smash metals down in the overnight market. Once the day time market opens, where trading is thicker, it is not as easy. Soon we will know the degree to which metals traders panic in the day time market. I might go off and eat breakfast, take a walk and things and then come back and find out the answer to that question. Link to comment Share on other sites More sharing options...
Guest Posted December 8, 2004 Report Share Posted December 8, 2004 Well, was that it? Is the metals correction over? Can I come out now? Do I have to take those iodine pill thingies? <{POST_SNAPBACK}> Time will tell. It's relatively cheap and easy for Big Money to smash metals down in the overnight market. Once the day time market opens, where trading is thicker, it is not as easy. Soon we will know the degree to which metals traders panic in the day time market. I might go off and eat breakfast, take a walk and things and then come back and find out the answer to that question. <{POST_SNAPBACK}> Well Feb gold was down only about $8 in the night session, then it gapped down a few more bucks right after the 5:20 open to around 443, I guess on day-only sell stops being triggered below 450 and getting typical nasty fills, then it fell even more as the dollar continued to rally, touching 436.20 but then the selling seemed to dry up, for the moment at least. Dec silver bounced off 7.00 exactly to currently 7.15 seems more like a lack of buyers at the moment rather than a lot of people who want to give up all their gold and silver at these lower prices Link to comment Share on other sites More sharing options...
flockofsheeples Posted December 8, 2004 Report Share Posted December 8, 2004 so, if the declining us tp was bullish for equities, we should be expecting a bloodbath today, no? unless, of course, this rally was DISCOUNTED yesterday. Link to comment Share on other sites More sharing options...
Slothrop Posted December 8, 2004 Report Share Posted December 8, 2004 We'll get a real feel for the precious metals sector this morning in terms of underlying strength in the miners. For example, if CBJ fails to take out the previous swing low, it's probably a buy. But if that low is taken out, that's not good for the i/t. Link to comment Share on other sites More sharing options...
Guest Posted December 8, 2004 Report Share Posted December 8, 2004 SIRI down almost a buck? Is that a bad quote? Monster volume Link to comment Share on other sites More sharing options...
rog Posted December 8, 2004 Report Share Posted December 8, 2004 SIRI down almost a buck? Is that a bad quote? Monster volume <{POST_SNAPBACK}> Siri trades going by so fast we can't make out the numbers. Maybe shrub is selling to fund SS transition. Link to comment Share on other sites More sharing options...
Guest Posted December 8, 2004 Report Share Posted December 8, 2004 Smith Barney on Wednesday lowered its investment rating on SIRI to "sell" from "hold," citing valuation. Wow, the public just got fisted on that one. That's gonna destroy J6P investor CONfidence. SIRI 7.07 -1.93 trading silver is boring by comparison Link to comment Share on other sites More sharing options...
Slothrop Posted December 8, 2004 Report Share Posted December 8, 2004 Machinehead is lurking: welcome back. Link to comment Share on other sites More sharing options...
capitall Posted December 8, 2004 Report Share Posted December 8, 2004 Smith Barney on Wednesday lowered its investment rating on SIRI to "sell" from "hold," citing valuation. Wow, the public just got fisted on that one. That's gonna destroy J6P investor CONfidence. SIRI 7.07 -1.93 trading silver is boring by comparison <{POST_SNAPBACK}> Somebody on the board yesterday was talking about some friend who put an entire IRA into some high flyer, maybe it was SIRI. So at least someone feels worse this morning than PM investors. Link to comment Share on other sites More sharing options...
Slothrop Posted December 8, 2004 Report Share Posted December 8, 2004 XAU opening stronger than I thought it would. Link to comment Share on other sites More sharing options...
Guest Posted December 8, 2004 Report Share Posted December 8, 2004 Machinehead is lurking: welcome back. <{POST_SNAPBACK}> well at least one good thing today! welcome back, machinehead Link to comment Share on other sites More sharing options...
The brown one Posted December 8, 2004 Report Share Posted December 8, 2004 The SIRI price will make AGs chuckle.The guy that put all his 401K in yesterday.Mebbee he was only day-trading! Link to comment Share on other sites More sharing options...
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