Discussion in 'Financial Cents' started by sayety, Feb 8, 2011.
Gold up $11+, Platinum $10, Palladium $10. whats up? seems like a huge swing for mornign trading.
Not even big, much less huge.
Huge would have triple digits.
And those days are coming. You can thank the FED and the Chinese for that.
Watch the "dollar"...it is down nearly .11 FRNS. PMs trade at higher prices when the dollar is weak. Additionally with uncertain market conditions, and China's economy added into the mix...
On a side note. I personally am investing in the LtPM (Less than Precious Metals) - brass and lead.
Rumor of a Chicom rate hike caused massive shorting by The JP Morgue. Chicom rate hike rumor claimed false and now Blythe is having to cover those shorts. If the rumor about who dumped this "trap" is true, then they absolutely bitch slapped the wicked witch today.
Hear that whistling noise? It is the FRN taking a nosedive. Jordan (the country) got their international credit rating dropped, China is *resisting* an interest rate adjustment, and jobs fell for a second straight month. Consumer confidence is down. Obummer is calling for a 53 billion FRN program to build a high speed rail. WHERE are they getting this money? They just make it appear out of thin air. . .
And precious metals are solid and rising. Go figure.
Just the tip...
Silver has been on a rip the last couple days. Over buck yesterday and up almost that so far today.
Rumor is enough folks plan to stand for delivery in March to bust the Comex. They raised margin rates again today, but if you plan to pay for your silver (and take delivery in March ) in a few days at month's end, margin percentage means nothing.
Right now, there are almost 60,000 open interest contracts.....if 20,000 of them don't roll their contract forward and demand delivery, ( @5,000oz/contract ), the Comex is busted.....they are down to 5 days to roll, and a LOT of them are standing pat. This COULD get quite interesting in the next week. You could see 40 buck silver by next Friday.
EXCELLENT explanation of what is going on at:
Along The Watchtower: Wow
I practically live on Turd's blog.. my F5 button is worn down
Yeah, I like the way he can put in terms a simpleton like me can understand.
When I look at this (U.S $ INDEX (NYBOT: DX):
I hear Boom chika bow wooooow (AKA Brown chicken, brown cooooooow).
does the obvious downward trajectory disturb you? /end sarcasm
LOL Nope. Just a morbid fascination.
I hear that.. I find it addictive to watch the machine crumble.. the purging of the corrupt is what I call it.
I don't know. I consider those to be pretty precious metals.
While I, and many others, agree that these are Precious Metals, especially now, the mainstream still views them as junk, just like we view their fiat currency, which many so highly covet. So I refer to them as (tongue-in-cheek) LtPM's.
Separate names with a comma.