wndysrf Posted May 14, 2003 Report Share Posted May 14, 2003 Getting desperate. Must be nearing the end. Massive jam job in the futures in the am. Bloomberg Europe commentators were stunned at the action, noticing a sharp reversal in share prices on the DAX and FTSE after early weakness. Then Freidman comes on touting the "v-shaped recovery" upcoming in the second half, extolling the fine job done by the FEED in on a Crapvision Roundtable Special. That was good for a gap up on the open, only to be followed by a collapse. Gold screamed to new highs, only to be slammed near the close, then a wild gap up to new highs, then a second slam to the close. Uncle Buck was rolling over, but was stick saved into the close. Treasury melt-up continues, new record lows. 10-year yield drops to new 1950s low at 3.55% by Rachel Koning "Yields on the benchmark 10-year Treasury note dropped below 3.55 percent Wednesday for the first time since the late 1950s, as the bond market rallied for a seventh session in eight following Fed concern about falling inflation. Inflation-sensitive 30-year bond yields fell earlier to a record low, and were recently down near 4.51 percent." Program Robots must be backfiring, short circuiting, unable to cope with the total and complete breakdown in standard intermarket relationship behavior. We'll have to see where this ends up. Breathtaking, wild volatility continues. Doug Noland's "Unsettled" markets. More politicians getting desperate, asking Al Green to jam the levers even harder: Congressman urges Fed to cut interest rates by William L. Watts "Rep. Jim Saxton, R-N.J., issued a statement urging the Federal Reserve to cut interest rates to counteract an economic "soft patch." Saxton, vice chairman of the House-Senate Joint Economic Committee, said: "Given the lack of inflation, the Fed should move soon to ease monetary policy and improve the economic outlook. By many measures, current domestic and international economic conditions still appear to be quite weak. Business investment during this expansion never fully recovered as many had expected, leaving the economy on a sub-par growth path. We still seem to be stuck in the 'soft patch' Chairman Greenspan described last November." Gotta go. Must deal with some desperate prospective customers seeking 5% apartment loans with 20% down. Take it away, Riverboaters...... Link to comment Share on other sites More sharing options...
richmtn Posted May 14, 2003 Report Share Posted May 14, 2003 You were right today. :wink2: Link to comment Share on other sites More sharing options...
DrStool Posted May 14, 2003 Report Share Posted May 14, 2003 Doc's closing comment in today's Stooltrading. Link to comment Share on other sites More sharing options...
Guest bullseatshitndie Posted May 14, 2003 Report Share Posted May 14, 2003 trying to look at the positives today: vix had bullish confirmation today off it's harami cross candle formation yesterday to signal good chance for change in trend spx candles for last 3 days look to be two crows which is a bearish formation. Link to comment Share on other sites More sharing options...
mksloth Posted May 14, 2003 Report Share Posted May 14, 2003 You were right today. :wink2: Rich, when you have that conversation with Pile, can you post the findings? Tanks much... Link to comment Share on other sites More sharing options...
soup Posted May 14, 2003 Report Share Posted May 14, 2003 absolutely incredible that some statist politician still does not get it! Lower int rates aint the answer, c'mon gang, what will going from 1.25 ot .5 do that the last 500+ bp in cuts could not do? The magical rate card will not play, pouring fire on a burning building will not put the fire out. Link to comment Share on other sites More sharing options...
jtomm Posted May 14, 2003 Report Share Posted May 14, 2003 The action of the gold stocks sure seems extremely negative. For whatever reason, the stocks do seem to lead on big sustained up moves. And everytime they don't, we here lots of pronouncements about why the stocks aren't leading this time, but the move is still legitimate. Seems like everytime that happens, gold tanks shortly thereafter. We've had a pretty darn good run in the gold price, and yet many of the stocks are just sitting there or even going down. Any thoughts? Link to comment Share on other sites More sharing options...
richmtn Posted May 14, 2003 Report Share Posted May 14, 2003 Rich, when you have that conversation with Pile, can you post the findings? Tanks much... I will. Pile has been very sharing with his stuff. He's posted threads with picks etc. I'm sure he'll continue to oblige. Link to comment Share on other sites More sharing options...
mjkst27 Posted May 14, 2003 Report Share Posted May 14, 2003 2-year Treasury note yield now within striking distance of the fed funds rate...market forcing Al's hand, or is Al masturbating all by himself? Link to comment Share on other sites More sharing options...
mksloth Posted May 14, 2003 Report Share Posted May 14, 2003 I will. Pile has been very sharing with his stuff. He's posted threads with picks etc.I'm sure he'll continue to oblige. Absolutely. He's been a gem. I just don't want to bug him separately from you - that's all. Tanks again... And to PileDriver of course. Link to comment Share on other sites More sharing options...
wndysrf Posted May 14, 2003 Author Report Share Posted May 14, 2003 Yeah, how about that unnatural flatline on silver at $4.86 all day?? Silver is capped all day, but nobody is capping EBAY, YHOO, AMZN at 130x earnings. Buffet was probably in there buying the whole time, taking every bid at $4.86 all day long, while our stupid Central Bank is busy draining or shorting it into outer space. Can't tell me that these markets are not tinkered with. What commodity trades in a straight line all day long? How absurd. What is wrong with letting silver rise up a little? What are these gangsters so afraid of?? Link to comment Share on other sites More sharing options...
DrStool Posted May 14, 2003 Report Share Posted May 14, 2003 Gold Bugs- Don't miss the discussions in Stool's Gold and JRMFL's Safe Harbor. Great stuff! Exrtremely knowledgeable folks. Link to comment Share on other sites More sharing options...
strikerm3 Posted May 14, 2003 Report Share Posted May 14, 2003 looks like BEAS will be taking flight tomorrow. Link to comment Share on other sites More sharing options...
Guest Posted May 14, 2003 Report Share Posted May 14, 2003 The action of the gold stocks sure seems extremely negative. For whatever reason, the stocks do seem to lead on big sustained up moves. And everytime they don't, we here lots of pronouncements about why the stocks aren't leading this time, but the move is still legitimate. Seems like everytime that happens, gold tanks shortly thereafter. We've had a pretty darn good run in the gold price, and yet many of the stocks are just sitting there or even going down. Any thoughts? Ron Wolfbauer said today on the Arnold show that gold will have to move to the 365 area for the miners to show much of a postive reaction. We'll see. Link to comment Share on other sites More sharing options...
wndysrf Posted May 14, 2003 Author Report Share Posted May 14, 2003 NYSE and Nasdaq % Record High pinned yet another day. 10 days in a row on the NYSE at .97 or better. Stock market history is in the making. Sentiment Link to comment Share on other sites More sharing options...
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