K Wave Rider Posted June 11, 2011 Report Share Posted June 11, 2011 Getting ready for the End of Pomo... Yeh, wondering if the the SPX monthly chart is gonna end up having a similar look to Crisco daily over the next decade or so. A series of long drawn out advances, followed by sharp swift selloffs. We may just started the next decline after the OB-LID put on the top of the market in May. Link to comment Share on other sites More sharing options...
K Wave Rider Posted June 11, 2011 Report Share Posted June 11, 2011 KW, what are the other MAs? Thanks as always. on that chart, they are the 13, 20, 50 and 72 Month Link to comment Share on other sites More sharing options...
MrHanky Posted June 11, 2011 Author Report Share Posted June 11, 2011 I am, welcome back. How are things in Vegas? Thanks.... Crappy as ever,no jobs,and lots of pain......but I love it cause it's so damn cheap.Perfect for me until I decide my next move. Link to comment Share on other sites More sharing options...
Trader Joe Posted June 12, 2011 Report Share Posted June 12, 2011 IMF computer HACKED Ha Ha Link to comment Share on other sites More sharing options...
MrHanky Posted June 12, 2011 Author Report Share Posted June 12, 2011 I just put an offer in on a luxury highrise condo here on the strip.... 2006 price $730,000 Asking price $160,000 My offer $120,000 Probably no chance at getting it since most of the deals go way above the asking price,but I figured I would give it a shot. Link to comment Share on other sites More sharing options...
cwd Posted June 12, 2011 Report Share Posted June 12, 2011 FYI Montreal is probably the most criminal city in Canada, sort of a cultural/ criminal center as with New Orleans in USA. Long history of corruption, mafia, hells angles.... buried deep with politicians both municipally and provincially. This event could make a decades long movie event with parallels to the godfather trilogy. Check this from Jesse's blog. Harvey Organ's comment on the Kitco tax fraud story: "It is also interesting that Kitco immediately filed for an interim receiver Richter Usher Vineberg as this will no doubt turn into an absolute mess. The gold at Kitco is unallocated and thus can be attacked by Revenue Canada. This would create the biggest run on a "bank" in history for Canada as depositors of gold at Kitco immediately seek redemption. Thus Kitco had to act immediately.The unallocated gold is surely a mess but when you add in the tax consequences, this will dwarf the Refco fraud." Jesse Link to comment Share on other sites More sharing options...
quanta Posted June 12, 2011 Report Share Posted June 12, 2011 Revolution Now Interesting that they are advocating an Economic Rebellion on US Flag Day June 14. Martin Armstrong has an Economic Turn Date scheduled for June 13-14. I think he predicted that a few years ago.. Link to comment Share on other sites More sharing options...
cwd Posted June 12, 2011 Report Share Posted June 12, 2011 I think the big question is, Are people going to start trying to get the PMs out of Kitco Monday? I would be one of the first in line. I went through the Refco bust. The allocated Lind_Waldock accounts were fine, but the unallocated accounts like the Jim Rogers commodity fund got about fifteen cents on the dollar back I read. Link to comment Share on other sites More sharing options...
capitall Posted June 12, 2011 Report Share Posted June 12, 2011 Anyone understand Armstrong's prediction here? He says June 13/14 will be a top in gold and bottom in the dollar. However, in his zigzag picture on Page 9, he puts those dates at the bottom of a zig, not at the top of a zag. So does that mean he expects a bottom in the stock market at that time? Or was he just careless in where he typed "June 13/14?" Or what? In order for that date to be a YTD top in the Dow, the Dow would have to rise 925 points in a day or 2, which is rather unlikely. But then his 2007 top was early by 4 or 5 months, if I remember correctly, so whatever his prediction is here, it could end up waiting until October to occur, if it is correct at all. Or the prediction date could be a just a little late and his top in the Dow and gold already happened. Link to comment Share on other sites More sharing options...
Jimi Posted June 12, 2011 Report Share Posted June 12, 2011 Can someone give a synopsis of the Kitco issue? I have used their price series charts for years, but never stopped to ask myself what sort of business they were in. Link to comment Share on other sites More sharing options...
Trader Joe Posted June 12, 2011 Report Share Posted June 12, 2011 Can someone give a synopsis of the Kitco issue? I have used their price series charts for years, but never stopped to ask myself what sort of business they were in. 1.The provider of the gold [A] sells the gold to the gold refiner . As pure gold isn’t taxed, there is no retail sales tax treatment. 2.The gold refiner transforms the gold into gold scrap, rendering it taxable. 3.The gold refiner sells the gold scrap to the gold provider [A]. The gold scrap being taxable, the gold refiner collects retail sales tax from the gold provider. 4.The gold refiner doesn’t remit retail sales tax collected from the provider [A] to Revenue Quebec (a situation of taxation realized but not submitted). 5. The gold provider [A] claims a tax refund from Revenue Quebec on the retail sales tax inputs that it had paid to the gold refiner . 6.The gold provider [A] sends the scrap gold to another refiner to transform the gold scrap into pure gold. The same cycle of transactions repeats itself, and each time a new cycle begins, it increases the size of the fraudulent gains generated by the scheme and lost to the province. What’s more, you generally find that one or several intermediaries gets added in between the provider [A] and the refiner in order to obfuscate the structure and make it more difficult for the scheme to be detected. http://jessescrossroadscafe.blogspot.com/ Link to comment Share on other sites More sharing options...
Trader Joe Posted June 12, 2011 Report Share Posted June 12, 2011 Nasty will have it's day at some point Of course, that day will be after the likes of XOM has gobbled up assets on the cheap SJT, PBT, HGT will all pay you over 6% to wait ...and if the market gets poleaxed and these things end up tanking as well, the yield can run to 8%, 10% or 15%....or higher When they price with a yield above 10% = SOLD TO ME ___________ (Reuters) - Exxon Mobil Corp (XOM.N) said it bought privately held natural gas company Phillips Resources and related company TWP Inc for $1.69 billion last week, picking up about 317,000 acres for exploration in the Marcellus shale basin. The action highlights the importance Exxon is placing on natural gas assets after spending about $30 billion last year to buy natural gas company XTO Energy, adding one of the leading developers of shale gas and a resource base of 45 trillion cubic feet of gas equivalent. http://www.reuters.com/article/2011/06/08/us-phillips-exxon-idUSTRE75774920110608 Link to comment Share on other sites More sharing options...
Trader Joe Posted June 12, 2011 Report Share Posted June 12, 2011 I just put an offer in on a luxury highrise condo here on the strip.... 2006 price $730,000 Asking price $160,000 My offer $120,000 Probably no chance at getting it since most of the deals go way above the asking price,but I figured I would give it a shot. $109,500 based on land smash Las Vegas Lands sells for 15 percent of 2007 price What do you get for $730,000? Linkage to that unit or similar? TIA Link to comment Share on other sites More sharing options...
Trader Joe Posted June 12, 2011 Report Share Posted June 12, 2011 Rich-bitch Leona Helmsley said it best.... "We don't pay taxes. Only the little people pay taxes." Link to comment Share on other sites More sharing options...
K Wave Rider Posted June 12, 2011 Report Share Posted June 12, 2011 Anyone understand Armstrong's prediction here? He says June 13/14 will be a top in gold and bottom in the dollar. However, in his zigzag picture on Page 9, he puts those dates at the bottom of a zig, not at the top of a zag. So does that mean he expects a bottom in the stock market at that time? Or was he just careless in where he typed "June 13/14?" Or what? In order for that date to be a YTD top in the Dow, the Dow would have to rise 925 points in a day or 2, which is rather unlikely. But then his 2007 top was early by 4 or 5 months, if I remember correctly, so whatever his prediction is here, it could end up waiting until October to occur, if it is correct at all. Or the prediction date could be a just a little late and his top in the Dow and gold already happened. I think the turn in the dollar may have already begun...but getting it within a month is certainly close enough, or in the case of the Swiss Franc, which has been the strongest anti-dollar mover, a couple of days. These economic turns are not always about the US stock indexes. The one at the end of 1989 had to do much more with the economic turn in the Japanese bubble than the US markets. So I think he may be right about this one being more about the dollar. I am positioned accordingly since Swiss/USD 1.20. Below that number I will remain short Swiss for the long term with a core position. If Swiss blows that number out, I will have to reassess. What I am looking for now is the acceleration trigger upside in Uncle Buck to seal the turn, similar to a March '09 launch in the SPX. Link to comment Share on other sites More sharing options...
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