saveyourassetsfirst3 |
- NFTRH ‘Morning Notes’ Email Update
- China investing in foreign mines and buying gold directly
- Exposure of gold market manipulation is producing results
- Marc Faber: Markets At The Start Of A Downturn Gold Correction Not Over
- Bill Murphy: Non-Stop Gold & Silver Manipulation
- A Further Downside Run in Gold and Gold Stocks is Coming! Here’s Why
- Gold and Silver - The Dr. Evil Strategy and Some Targets
- Gold Gains On Poor US Jobs Data
- Eric Sprott Is Now The Silver Bull
- The Key to Reading the Gold Bull
- Gold & Silver Confiscation Will Not Happen
- Indian gold taxes ‘hurting traditional culture’
- Analyzing Last Week's Noteworthy Insider Trades In Basic Materials And Energy
- Failed Bottom in Gold Stocks Initiates Capitulation
- Opportunity Window
- Gold Juniors Available at Bargain Prices: Brien Lundin
- Gold is a crisis hedge, not an inflation hedge
- Inside Jobs
- Santelli – Natgas Can Fuel Your Truck/Car Right Now
- Morning Outlook from the Trade Desk 04/09/12
- Gold & Silver Look to US Dollar, QE3 Outlook
- Gold: Next Stop $1500
- Gold price rallies on weak US jobs data
- Has Gold Had It?
- Why High Inflation Is Inevitable
- The Nightmare German Inflation
- China to maintain golden focus
- Failed Bottom in Gold Stocks Initiates Start of Capitulation
- Wild West JOBS Act and Musical Chairs
- India's gold jewelers call off strike, expecting tax rollback
| NFTRH ‘Morning Notes’ Email Update Posted: 09 Apr 2012 06:38 AM PDT Now that the markets are becoming actionable, with the premier gold stocks technically broken, the stock market vulnerable beneath significant long-term resistance and even a less than stellar jobs report that got both Obama and Romney publicly fretting (a first inkling that Dear Monetary Leader Bernanke will eventually change the Fed's 'hard guy' stance with respect to policy), it is time for people who have not run with herds and gotten into trouble, to maintain perspective, strength, patience and a capitalist's attitude for coming opportunity. This email update basically wrote itself and went to NFTRH subscribers last week. Presented here just FYI: NFTRH is not a gold letter, a gold stock letter or any other readily definable thing. It is technical analysis, a lot of weird ratio indicators, psychology and a gut instinct by its writer with regard to the markets. Gold remains a centerpiece of the analysis, but if policy makers are able to will the system to be fixed then NFTRH will become whatever the new reality demands. Is the system fixed? Well I fail to see how some rigging of yield curves (while continuing inflation through ZIRP) and a little economic recovery (as you know, I have been claiming 'recovery' for some months now, receiving derisive mail from bears along the way) while not addressing the fact that additional debt is still created to fuel tepid economic growth and global bailouts can be called 'fixed'. We are being asked to believe that economies can be managed indefinitely and that our leaders have got it all under control. I just do not buy it. We can see 'growth' and bullish stock market performance for a while as things are papered over until one day the system has had enough and simply rejects the dishonest policies that have been employed behind the scenes to keep things bailed out and propped. Governments have not employed real measures to change their way of doing business. They are thus far just doing more of the same things that have created the hazards like the one that started in the US in 2007 and the one in Europe last year. The case for gold is that nothing has changed and if anything, policy has been pushed further out on a limb. Meanwhile, it appears that some powerful forces have begun a campaign, which has included Ben Bernanke's recent lectures and JPM's 'Head of Global Commodities' Blythe Masters protesting a bit too much on CNBC about JPM silver manipulation being speculated upon in the blogosphere. Famously, it has also included Warren Buffett deciding now would be a good time to ruminate about gold's lack of utility and thus, value. And then there is the big one, Dennis Gartman being cited in Forbes with Gold's Decade-Long Bull Run Is Dead, Gartman Says. Phew! That's a lot to deal with. I will probably parse this article bit by bit on the blog, but "gold has been in bear territory since the summer of 2011″ is all we need to know to get an idea where this article is going. It is called a correction. 'Bear territory'… ooohhhh. Back when I was a just a blogger doing this for the simple purpose of trying to understand and differentiate bullshit from reality, I wrote a blog post (on a now defunct 'commentary' blog) in response to a ridiculous article making the rounds at the time (2007, I believe) citing Goldman Sach's Technical Analysis department's 'concerns' about gold due to waning momentum. A look at a monthly chart showed no such thing and I had a good, derisive laugh. This was when gold was in the 800′s, half the current price. Now Forbes is citing Gartman, who says gold has suffered "irreparable damage" post-FOMC. I'll include a chart in the blog post, but for our purposes we will just remember that the daily chart is not broken (though it needs to start forming a right side shoulder soon to actually look actionably bullish) and is looking a-okay by a weekly chart. I cannot tell you that the price assigned to gold will resolve the daily pattern bullishly and I cannot tell you that our weekly support parameter (chart attached omitted for this post) of 1580 will hold. But I can tell you that there are a lot of powerful people in business, media, government and quasi government already pounding home the reasons why gold bulls are a thing of the past and should make the adjustment to this reality that these people insist is in play. The weekly chart shows that yes, gold lost the weekly EMA 20, which had generally supported it all the way out of 2008. So Gartman calls this 'bear territory' and 'irreparable damage'? Really Dennis? The only damage was the opposite condition to today's depressive one; as we are now finding out just how damaging the unbridled momentum of last summer was fated to be, especially in the miners, but also the metal. Gold itself is unbroken and apparently in need of some extra help in getting the memo that its bull is over. Out trot the big guns. This is war. Mahatma Gandhi: "First they ignore you, then they ridicule you, then they fight you, then you win." [<-- thanks to a subscriber who so aptly cited this quote] What you must not be is in a place where you do not know if you are a value holder or a player, sitting there in the middle and waiting to be picked off. Gold can shake off this nonsense and get to 2050 rather quickly or it can be broken down below the December low of 1523. The first warning would be a loss of 1580, AKA the weekly EMA 70 per the attached chart. I will never attempt to fool myself into thinking I know what is going to happen. Ever. I may tell you what I think is happening and how I am personally getting in line with expectations, but this is all about risk management. Yet gold itself simply remains a 'value' anchor and a monetary barometer. It's all it ever was in my book. So whatever happens, I will remain bullish on gold as long as I see not only no real change in monetary policies, but also continuation and promotion of policy that routinely incorporates debt and inflation as a way of doing business. If it is being done covertly as I believe is now the case, then that illustrates a level of desperation on the part of 'the system'. To summarize the above, just think about the difference in gold bug sentiment, the macro economic landscape, the major media and even policy maker tactics now compared to last summer. Then the signals tried to compel people to be wildly bullish the precious metals. Today, the opposite is in play. I am bullish because being contrary this cacophony has worked well thus far in a secular bull market that is not over until the technicals and macro fundamentals say it's over. Gartman has been trotted out before and is not a credible source for such a grand call. On to gold stocks, the consolidation on the HUI gold stock index is breaking down. This invalidates the big upside targets for now. And yet, I am so bullish I almost cannot stand it. I worry that I may be under exposed to quality miners. Mahatma's quote is foremost in my mind. They are fighting back. All I know is that I want to hold value and that is cropping up all over the spectrum of 'quality' gold stocks. NFTRH analysis will now lock and load for coming opportunities. Individual stock charts will be produced since different items will bottom at different times. Gold's ratio to other things will be watched in the effort to define the macro, non-gold asset markets, the 'real' price of gold, the economy and its pressures on policy makers. They are fighting now because the underlying driver is desperation. I am happy to finally have data points coming in. The 1.5 year consolidation in the HUI represented a slack time when nothing actionable was happening other than a trading range. Now, we are becoming actionable and it is time to get to work. I would hope to be able to finally back off of some of the in depth clue seeking that has blown the newsletter up to 25 or so pages in favor of more direct and actionable analysis. I am not the guy who always says "I don't know". I will pound a table once in a while. The last time was 2008. 2012 is shaping up such that it will only have been a 4 year gap since I was able to get overtly actionable and confident as a bottom feeder value seeker. More to come in NFTRH182, which I hope to finish and mail out tomorrow since the markets are closed today and Sunday is Easter. Regards, Gary http://www.biiwii.blogspot.com
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| China investing in foreign mines and buying gold directly Posted: 09 Apr 2012 06:25 AM PDT |
| Exposure of gold market manipulation is producing results Posted: 09 Apr 2012 06:23 AM PDT |
| Marc Faber: Markets At The Start Of A Downturn Gold Correction Not Over Posted: 09 Apr 2012 06:21 AM PDT |
| Bill Murphy: Non-Stop Gold & Silver Manipulation Posted: 09 Apr 2012 06:15 AM PDT
From KerryLutz.com: Billy Murphy has been fighting the good battle for 13 years. His organization GATA has been the David fighting the Goliath of the Fed, the Bullion Banks, the US Government and many other foreign interests as well. Bill categorically states there hasn't been a free market in gold and silver for decades, and he's got the evidence to back it up. There are thousands of documents proving Fed manipulation and witnesses calling major price moves days before the actual event occurs. The manipulation and price rigging has only gotten worse since the beginning of 2012. First there was the Leap Day Metals Massacre. Then there was lasts week's slam during the slow holiday markets. While the intervention has become more constant, the elitist's efforts to hide it has not. Therefore, it's not unusual to see an entire year's supply of gold and silver sold into the futures markets in a matter of minutes. However, people and governments are starting to understand, which eventually will be the gold/silver cartel's undoing. Much more @ KerryLutz.com or @ 347.460.LUTZ |
| A Further Downside Run in Gold and Gold Stocks is Coming! Here’s Why Posted: 09 Apr 2012 06:05 AM PDT
By: Nu Yu, Ph.D.
GOLD now in a downhill run Gold had been in a 20-month long "Bump-and-Run Reversal Top" pattern but, with the recent events, has transitioned from the "Bump" phase to the "Run" phase. This should result in a downhill run in its price to the first support line at around $1,500/ozt. According to Thomas Bulkowski, the Bump-and-Run Reversal Top pattern consists of three main phases:
Below is a chart showing how this trend should unfold: XAU & HUI have now broken to the downside As the two charts below clearly show, both XAU and HUI have broken to the downside from their 7-month "Descending Triangle" patterns. The descending triangle is a bearish formation confined by an upper descending trend line and a lower horizontal line. Once a downside breakout occurs, a price target is projected by measuring the widest distance of the pattern, multiplying it by 54% price target meeting rate, and subtracting it from the breakout. Therefore, XAU could fall to 144 and HUI could fall to 400. Both should decline about 17% measured from the breakout. For my analysis of what is unfolding for silver, the U.S. Dollar Index and 30-year Treasury Bonds please go here or read a version of it on the site of my editor, Lorimer Wilson, here. Dr. Nu Yu is managing partner and co-founder of Numarkan Investments and an affiliate of the Market Technicians Association. He publishes a free Market Weekly Update and Wilson posts a free Your Daily Intelligence Report
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| Gold and Silver - The Dr. Evil Strategy and Some Targets Posted: 09 Apr 2012 06:03 AM PDT |
| Gold Gains On Poor US Jobs Data Posted: 09 Apr 2012 05:58 AM PDT
from mineweb.com: Gold gained more than half a percent on Monday after disappointing U.S. jobs data revived hopes for further monetary easing, while appetite for the metal was also boosted as China inflation spiked. Keep on reading @ mineweb.com |
| Eric Sprott Is Now The Silver Bull Posted: 09 Apr 2012 05:57 AM PDT
from gurufocus.com: ric Sprott has gained a reputation as an implacable bear. In fact, that has not always been the case. Back in the 1980s, he was bullish on the stock market. But that's ancient history. Since 1999, he has been Canada's highest-profile doomsayer. The markets are in long-term decline and everything is going to hell. He was in his usual end-of-the-financial world-as-we-know-it form when he spoke to an audience of financial professionals in Toronto last week at the kick-off of his company's annual national road show. In a presentation titled "Mania. Manipulation. Meltdown." Mr. Sprott predicted the collapse of almost everything. "There is nothing positive in Europe," he intoned, noting that the continent's banking system is only being kept afloat by massive 1% loans from the European Central Bank. Keep on reading @ gurufocus.com |
| The Key to Reading the Gold Bull Posted: 09 Apr 2012 05:55 AM PDT
from news.goldseek.com: After peaking at $1,780 in late February, gold dropped over $100 in March, finishing the month at $1,662.50. Whenever there is a big move up or down, we all naturally seek confirmation and reassurance of our investment strategy, which is why investors must use objective measures to evaluate and re-evaluate their positions. As someone who is invested in gold bullion, I enjoy speaking with like-minded people. Many agree that the United States' massive budget deficits and global monetary inflation support the gold bull market. I don't see this changing in the near future. Still, sentiment is not enough upon which to rely – I need a yardstick. For me, that yardstick is US real interest rates. Real interest rates represent the inflation-adjusted interest rate on 'risk-free' assets, such as US Treasuries. In other words, if a Treasury bond is held to maturity, the real interest rate shows if the bond investor is losing money due to inflation even if the bond posts a profit. Calculating Real Interest Rates Keep on reading @ news.goldseek.com |
| Gold & Silver Confiscation Will Not Happen Posted: 09 Apr 2012 05:54 AM PDT
from usawatchdog.com: People ask me on a consistent basis if I think the government will confiscate their gold and silver coins if times get rough. I feel there is little chance of this happening, and here's why. Gold and silver coins are predominantly held by the wealthy (especially gold). The wealthy are not going to allow the government they support with campaign money to take their gold. It is just not going to happen. Think about it, poor and moderate income people (and that is at least half the population) do not have a significant holding of gold or silver. Most of the rest of the population have the bulk of their wealth tied up in 401-K's or IRA's. This may come as a surprise, but most rich people do not have 401-K's or IRA's. They have stocks and bonds, but the rich also have the money and smarts to diversify their portfolios. Keep on reading @ usawatchdog.com |
| Indian gold taxes ‘hurting traditional culture’ Posted: 09 Apr 2012 05:52 AM PDT Goldmoney |
| Analyzing Last Week's Noteworthy Insider Trades In Basic Materials And Energy Posted: 09 Apr 2012 04:35 AM PDT By Ganaxi Small Cap Movers: We present here two noteworthy insider buys and three noteworthy insider sells last week (April 2nd to 6th, 2012) in the basic materials and energy sectors from over 1,300 separate SEC Form 4 (insider trading) filings during the week, as part of our daily and weekly coverage of insider trades. The filings are noteworthy based on the dollar amount sold, the number of insiders buying or selling, and based on whether the overall buying or selling represents a strong pick-up based on historical buying and selling in the stock (for more info on how to interpret insider trades, please refer to the end of this article): Paramount Gold and Silver (PZG): PZG is a Canadian company engaged in the exploration and development of gold, silver and precious metals properties in Mexico and Nevada. On Tuesday, FCMI Financial Corporation, a Toronto-based private corporation controlled by Albert Friedberg and members of his Complete Story » |
| Failed Bottom in Gold Stocks Initiates Capitulation Posted: 09 Apr 2012 03:52 AM PDT It was only a week ago we felt the gold stocks had a great chance of putting in a bottom. Monday supported our thesis but after Tuesday's action and Bernanke's jawboning it was apparent that the gold shares were in for a very difficult period. |
| Posted: 09 Apr 2012 02:28 AM PDT "Investments that are denominated in a given currency include money-market funds, bonds, mortgages, bank deposits, and other instruments. Most of these currency-based investments are thought of as "safe." In truth they are among the most dangerous of assets." Warren Buffet, Fortune Magazine, 2/9/2012 An early 2012 Report indicates anti-Gold Sentiment ("Led" by Warren Buffet who is Wrong about Gold, but right about the Dangers of Currency-Based "Investments") has reached recent record highs except among those in the "know": (In the short term) "I expect the (Gold) price to decline and when that happens I will buy more." Jim Rogers 4/4/12. While the anti-Gold Sentiment is perhaps baffling at first glance, thoughtful educated Investors should see it as facilitating an Opportunity Window. Consider the following:
PIMCO's "Bond King", Chairman Bill Gross, sums it up. "Greece is a Zit, Portugal is a Boil, Spain is a Tumor." Bloomberg 4/5/12 Surely, one gets this Picture now. To keep the entire Paper/Digital Edifice from falling, the Central Banks will indulge in even more Massive Money Printing/Digitizing. And that is why Opportunity Knocks in the Precious Metals (notwithstanding Cartel (See Note 1) Interventions) and why we are already seeing serious Price Inflation in Energy and Food – "One the more interesting investments I've made over the last few years was buying a sizeable chunk of a successful baby products company… "The managing partner forwarded me a letter yesterday… [which] explained that, over the last two years, prices have risen substantially in the developing world… "China, for example, has seen wage increases of 44.6% since 2010. Vietnam- 39.1%. The polyethylene resin that we use has gone up in price 40.3%. Naturally, the rise in oil prices has also increased transportation costs substantially as well. "The letter… followed up with a polite assertion that they would be increasing their prices as a result. "And they say there's no inflation. "This is a direct consequence of the rapid expansion of the money supply. When you print trillions of dollars, euros, renminbi, etc., there are consequences… namely, rising prices. "At first, it's the developing world that suffers the most. Central bankers in countries where the entire economy is based on cheap manufacturing feverishly expand their own money supplies in an effort to keep pace with the [devaluation of the –ed.] dollar and euro. If they don't, the fear is that their currencies will rise, killing the manufacturing industry. "Since these countries have tiny bond markets and lack reserve currency status, all the new money they print goes straight into the local economy. This pushes prices up. "At first, it's usually raw materials, intermediate goods, and staple commodities. I remember being in Sri Lanka last year where the price of turnips had recently gone up nearly 40%, and people were demanding higher wages. "As wages in the developing world rise, it eats into the manufacturer's profit margins. Eventually, the manufacturers capitulate and pass the inflation back to their customers in the developed world. "You can probably guess that, since we're now paying more to have our products manufactured, we have to raise prices for our retailers and end users. "It takes a while for all of this money to make its way through the system… but rest assured, it does come home to roost. No doubt, inflation is very much with us." "And They Say There's No Inflation…" Simon Black, SovereignMan.com, 3/30/2012 But why are Gold and Silver, the Superb Inflation Indicators, well off their 2011 highs? That is mainly because a Fed-led Cartel of Central Bankers and Allies engage in an Ongoing Campaign of Precious Metals Price Suppression in order to support the Ostensible value of their Treasury Securities and Fiat Currencies (see Note 1). Even the Financial Establishment Notables are beginning to acknowledge PM Price Manipulation. Consider Bill Buckler of "The Privateer": Buckler writes: "It is interesting that many of the some people who are now abandoning stock markets because of their volatility over the last few years are the same people who become affronted at the slightest mention of the possibility of precious metal price manipulation. A moment's serious contemplation make things clear. The precious metals and gold in particular have always been the 'alternative' to government promise based on and created out of thin-air money. As such, the precious metals have always been Public Enemy No. 1 as far as the money manipulators are concerned. Anyone who aspires to intervention in an economy and the political power that it gives is and always has been an enemy of gold. As long as there is a central bank manipulating money and interest rates, all markets are manipulated by definition. To imagine that the precious metals would be overlooked is ridiculous." "ALL Markets are Manipulated" Bill Buckler, www.the-privateer.com, 3/30/2012 And consider The Financial Establishment Icon, the Interest Rate Observer's, Shrewd Jim Grant "… The Federal Reserve, Grant said, is the anti-capitalism business… 'The Fed ought to get out of the manipulation business…. They ought to forswear the intervention in markets.'" Jim Grant, Interview with Maria Bartiomo, CNBC, 3/30/2012 http://video.cnbc.com/gallery/?video=3000080414 Clearly, and notwithstanding the most recent Gold Price Takedown earlier this week (and the one on February 29, 2012… and the many earlier ones) conditions are building for a continuation soon of the Gold and Silver Bull Markets with even Greater Force. The Gold Market is indeed "like a coiled Spring" to use Jim Sinclair's term. That is why Deepcaster has recently issued several Buy Recommendations and forecast Timing and Targets notwithstanding ongoing Cartel Takedown attacks. And the characteristics of these Takedowns explains why Deepcaster forecasts different "launch dates" for Bullion and Shares Rallies, as well as for the Massive Prospective Takedown of the Equities Market. There is much at stake in forecasting timing of the Impending Massive Wealth Destruction and Hyperinflation wrought by ongoing Central Bank Quantitative Easing, as accurately as possible. Marc Faber explains why: "I think somewhere down the line we will have a massive wealth destruction. That usually happens either through very high inflation or through social unrest or through war or credit-market collapse. "I would say that well-to-do people may lose up to 50 percent of their total wealth… "I think that people should own some gold, and I think that people should own some equities because before the collapse will happen with Mr. Bernanke at the Fed, they're going to print money and print and print and print. And so what you can get is a bad economy with rising equity price." Marc Faber, CNBC Interview, 4/2/2012 And Jeff Nielson presents a Candid Description of the Wealth Destruction which has already occurred. "In writing about the relentless collapse of Western economies, I frequently point to 'forty years of plummeting wages' for Western workers, in real dollars. However, where I have been remiss is in quantifying the magnitude of this collapse in Western wages. "On several occasions I have glibly referred to how it now takes two spouses working to equal the wages of a one-income family of forty years ago. Unfortunately that is now an understatement. In fact, Western wages have plummeted so low that a two-income family is now (on average) 15% poorer than a one-income family of 40 years ago. "… real wages peaked in 1970 at around $20/hour. Today the average worker makes $8.50 hour – more than 57% less than in 1970. And since the average wage directly determines the standard of living of our society, we can see that the average standard of living in the U.S. has plummeted by over 57% over a span of 40 years. "This brings us to the second point: the refusal of our governments to adopt a consistent methodology in reporting inflation statistics can only imply a deliberate attempt to deceive, since it is 100% logically/statistically invalid to simply string together disconnected series of data… "Thus, our governments have been lying about inflation for the last 40 years as a deliberate means of hiding the 57% collapse in our standard of living. Meanwhile, the situation is more than reversed if you're one of the fat-cats at the top. While average American workers have seen their wages plummet by 57% over the past 40 years, in just 15 years (1992-2007) the 400 wealthiest Americans saw their incomes rise by 700%. "This is economic rape, plain and simple. "The causes of that economic rape are equally obvious… "3) Oligopolies/monopolies. It is elementary capitalist theory that monopolies and oligopolies are unmitigated evils. By definition they are 100% parasitic, and 100% non-competitive – and have absolutely no place in any capitalist economy. Yet today the global economy is totally overrun with these gigantic, non-competitive parasites. With these mega-parasites permanently blood-sucking us, the impoverishment of our societies was an inevitable result." "U.S. Standard of Living Has Fallen More Than 50%" Jeff Nielson, Le Metropole Café, 4/02/2012 In sum, more Substantial Wealth Destruction is coming for those who are Not Aware and Not Prepared. Best regards, Deepcaster April 5, 2012 Note 1: We encourage those who doubt the scope and power of Overt and Covert Interventions by a Fed-led Cartel of Key Central Bankers and Favored Financial Institutions to read Deepcaster's December, 2009, Special Alert containing a summary overview of Intervention entitled "Forecasts and December, 2009 Special Alert: Profiting From The Cartel's Dark Interventions - III" and Deepcaster's July, 2010 Letter entitled "Profit from a Weakening Cartel; Buy Reco; Forecasts: Gold, Silver, Equities, Crude Oil, U.S. Dollar & U.S. T-Notes & T-Bonds" in the 'Alerts Cache' and 'Latest Letter' Cache at www.deepcaster.com. Also consider the substantial evidence collected by the Gold AntiTrust Action Committee at www.gata.org, including testimony before the CFTC, for information on precious metals price manipulation. Virtually all of the evidence for Intervention has been gleaned from publicly available records. Deepcaster's profitable recommendations displayed at www.deepcaster.com have been facilitated by attention to these "Interventionals." Attention to The Interventionals facilitated Deepcaster's recommending five short positions prior to the Fall, 2008 Market Crash all of which were subsequently liquidated profitably. |
| Gold Juniors Available at Bargain Prices: Brien Lundin Posted: 09 Apr 2012 02:00 AM PDT |
| Gold is a crisis hedge, not an inflation hedge Posted: 09 Apr 2012 01:30 AM PDT Inflation Data.com |
| Posted: 09 Apr 2012 01:14 AM PDT Friday's US jobs data managed to yield a lift in precious metals values this morning but the advance was itself significantly below expectations and it most certainly did not come at the expense of a notable cratering in the US dollar. |
| Santelli – Natgas Can Fuel Your Truck/Car Right Now Posted: 09 Apr 2012 12:15 AM PDT
CNBC's Rick Santelli highlights a company in Oklahoma that does conversions to cars and trucks to run on natural gas and gasoline at the same time. One can even switch between fuels on the fly, according to the video. Pretty exciting stuff.
Rick Santelli with Craig Wright, owner of CNG Interstate in Edmond, Oklahoma. Source: CNBC Please note: Demand for this video is high. If an error message displays please wait a few moments and refresh the page. Video series continues on the next page. Part 2 of Rick Santelli's conversion of a truck to run on Natgas. Installing the 24-gallon tank.
Source: CNBC http://video.cnbc.com/gallery/?video=3000083040 CNG Interstate web page: http://www.cnginterstate.com/ (Be patient clicking on the CNG link. Heavy demand is causing it to resspond slowly this Monday morning.) |
| Morning Outlook from the Trade Desk 04/09/12 Posted: 09 Apr 2012 12:13 AM PDT After an extended vacation in the California dessert, I'm back in the saddle. Ouch. Long day ahead. Might as well get back in the swing, albeit after three hours sleep, don't expect much. In the 80's the now famous talking head, made us a lot of money. Whatever Gartman said we did the opposite. Over the past three weeks, he was bearish at $1,630 bullish at $1,680 and now has stated that the bull market is over. All I see when I look around is a morbid US recovery, major issues facing Europe and a US government that can't do anything until 2013 Low rates, an accomodative Fed are bullish. I would like to see the markets wash down to $1,520 range but I am again not in Gartman's camp. See you tomorrow, God willing |
| Gold & Silver Look to US Dollar, QE3 Outlook Posted: 08 Apr 2012 11:33 PM PDT Growth-sensitive crude oil and copper prices are on the defensive while gold and silver are trading higher amid hopes that a stumble in the recovery will retool the case for QE3, stoking demand for an alternative to paper currency. |
| Posted: 08 Apr 2012 11:05 PM PDT Dominic Schnider, Head of Commodity Research, UBS Wealth Management, says he thinks gold's upturn will break in the second quarter as it hits $1,520. ~TVR |
| Gold price rallies on weak US jobs data Posted: 08 Apr 2012 09:15 PM PDT The gold price rallied on Friday, following news of disappointing jobs gains in America during March. Economists had forecast a gain of 205,000 nonfarm payroll jobs, but the actual figure was ... |
| Posted: 08 Apr 2012 08:08 PM PDT With the Federal Reserve signaling that QE3 is off the table, many traders are now betting that the barbarous relic is about to take a prolonged vacation. The yellow metal suddenly doesn't have so much to offer. |
| Why High Inflation Is Inevitable Posted: 08 Apr 2012 04:58 PM PDT How this economic disaster ends is something about which many of us speculate. Two extreme endings are likely — a sudden deflationary collapse or a period of very high inflation/hyperinflation which ultimately cripples commerce and resolves itself in a deflationary collapse. In either case, the deflationary collapse is another Great Depression. It is important to know |
| The Nightmare German Inflation Posted: 08 Apr 2012 04:45 PM PDT USA Gold |
| China to maintain golden focus Posted: 08 Apr 2012 04:07 PM PDT China to maintain golden focus BY:ROBIN BROMBY From:The Australian April 09, 2012 12:00AM IT was just the tip of the iceberg. We're talking about last week's move by Zijin Mining Group to launch a $299 million bid for Norton Gold Fields (NGF), which operates the Paddington goldmine near Kalgoorlie. There was some surprise expressed at this: while Chinese companies have been snapping up bulk and base metals projects around the world, it was generally thought they had little interest in picking up gold projects. Think again. A very reliable source close to several gold companies tells us Chinese interests are not only taking stakes in explorers and miners, they are also buying gold directly from producers and shipping it home. There is much talk in gold bug circles in the US that the recent purchase by the Bank of International Settlements of more than 4 tonnes of gold may have been wholly or in part on behalf of the People's Bank of China. Our source is quite clear on one thing: the move on NGF is just the beginning. China wants more gold and it doesn't want to pay full market price for it (as it doesn't for any mineral) so it will be looking to pick up more Australian gold producers and add the yellow metal to its existing central bank gold pile. http://www.theaustralian.com.au/busi...-1226321636318 Explains the little bump Attachment 17105 |
| Failed Bottom in Gold Stocks Initiates Start of Capitulation Posted: 08 Apr 2012 03:13 PM PDT It was only a week ago we felt the gold stocks had a great chance of putting in a bottom. Monday supported our thesis but after Tuesday's action and Bernanke's jawboning it was apparent that the gold shares were in for a very difficult period. We immediately went long NUGT to hedge long positions and trimmed some of our most vulnerable positions. We aren't day traders personally or professionally (in our service) but sometimes you have to be considering the day to day volatility in this sector. Having accounted for the short-term, the next move is to gameplan for a potential major bottom in the sector. Below we show the HUI Gold Bugs Index, which declined by 7% last week and closed at the lows of the week at 441. When a market is breaking down or plunging, it is our job to identify areas of strong support which could temporarily reverse the trend and potentially establish a bottom. The 50% retracement from the 2008 low comes in at 395 and 375 marks mid 2009 resistance and early 2010 support. It is not groundbreaking news that sentiment in this sector is terrible. It is nearing 2008 levels. Yet, is the extreme bearish sentiment justified? We posit this because the HUI is currently 31% off its highs. Including 2008, this is the 6th correction of at least 30% or more. The HUI could fall another 13% to 385 and this decline would remain similar to declines in previous years. Sure, there is reason to be negative. This sector couldn't perform with Gold, couldn't mount any rebound from an oversold condition and now it is breaking down. However, the decline is likely to remain in line with past declines and the bull market is far from over. Over the past few weeks we were not sure if the gold stocks would form a stealth bottom or if we would get a panic selloff that would develop into a V bottom. As time passed we thought a stealth bottom could be forming. Now it is more than obvious that the market is likely to make a V bottom. The bad news is the V has barely begun. More pain is ahead. The good news is the market likely will be substantially higher six months and one year after the low. This sector produced significant gains following the major bottoms from 2005 and 2008. Sentiment argues that his time will not be any different. First things first. Investors must identify strong support that could produce a V bottom or reversal. Second, investors should have a shopping list ready. This should include premier companies with strong fundamentals that can be bought at a discount as well as speculative ideas and instruments with extremely favorable risk reward scenarios. If you'd like professional guidance in this endeavour then we invite you to learn more about our premium service. Good Luck! Jordan Roy-Byrne, CMT
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| Wild West JOBS Act and Musical Chairs Posted: 08 Apr 2012 02:38 PM PDT In a rare turn of events, Mike is out of the turret today so I'm filling in. (He'll be back in action soon.) First, comment on the JOBS act. Here's an excerpt of President Obama's signing ceremony remarks:
There are some pretty big Wall Street changes coming as a result of this — and some folks are having a hissy fit, as the following article sampling shows:
The short version gist of the above: Innocent investors should beware — the JOBS act is a return to the unregulated Wild West, with con men and fraudsters coming out of the woodwork. This is where my inner libertarian responds: "Are you serious? Give me #$#@ break."
It's no wonder that nit-picking regulators are hyperventilating over the JOBS act. That's what self-styled protectors of the people like to do whenever their authority is challenged. As some whiny guy from the Nebraska Department of Banking & Finance has put it (via Forbes), "Congress has just released every huckster, scam artist, and small business owner and salesman onto the internet." To which I would respond: Where have you been, guy? Did you really think Wall Street was a safe and trustworthy place BEFORE the president signed this thing? The reining motto of all investment decisions — and ESPECIALLY decisions where the salesman seeks you out — is "Caveat Emptor," let the buyer beware. Not only that, but there are plenty of fully vetted "legitimate" investments that are/were risky as hell. Groupon, anyone? Nor does it matter how big a research staff you have — look what happened to John Paulson in Sino-Forest ($700 million, ouch).
Will the freed-up restrictions of the JOBS act result in more gullible investors getting fleeced at the margins? Almost certainly. Most shady operators take the motto of Canada Bill Jones: "It's immoral to let a sucker keep his money." Is the JOBS act still a good idea anyway? Almost certainly, because of the good it accomplishes. You can only expend so much effort and energy protecting the gullible from themselves. And by cutting away red tape for entrepreneurs and investment managers, there is potential good being done in terms of new capital formation and new wealth creation. The schemes at the margins are worth the legitimate opportunities. There was no heavy-handed regulator protecting John Q. Public back when America was the most dynamic growth story of the 20th century. And the really sharp hucksters will find a way to circumvent any and all red tape rules. Not only that, but removing the illusion of safety can be a net positive for those in danger of being fleeced. Who is better off: The investor who naively believes the authorities are "protecting him" from the Bernie Madoffs of the world, or the investor who knows damn well there's no true safety net, and ups his due diligence accordingly? Agree? Disagree? I'm curious: jack@mercenarytrader.com (or just use the comments)… The JOBS act will have some very interesting implications for traders, by the way. We'll be bringing you Q&A with a seasoned legal professional on that very subject in the next couple weeks. Bad Friday Okay, off the soapbox. Now on to the market action. Good Friday (a stock market holiday) turned out to be "Bad Friday" thanks to an ugly shocker of a jobs report.
Last week we talked about "The Return of Ugly Goldilocks," which can also be seen as a normalization meme. In other words, as the U.S. recovery "normalizes" against a continued low-inflation backdrop (excluding food and energy), the Fed withdraws stimulus, causing gold, treasuries and possibly stimulus-inflated equities to fall. If the macro bears are correct, though — if U.S. growth slips and we return to global recession conditions, with no exemption for the United States — odds increase that the Federal Reserve returns to an active stimulus stance, arresting and possibly even reversing the downtrends in gold and bonds. That is the threat that the crapola jobs report (technical term) poses. If the recovery is in doubt, potential stimulus is back on the table. Musical Chairs This is another case of "memus interruptus" — a little fake Latin there — as investors now have to decide 1) whether the recovery has lost its legs, and 2) whether a lone jobs report will really bring the white knight riding to their rescue that quickly. In addition to gaming the above, there is the question of "Sell in May and Go Away" — and whether the old advice has now been pulled a couple weeks forward. It's a game of financial musical chairs, where a tune plays for a while and then suddenly stops, with the abruptness of a needle scratching a record. Then a different tune starts playing, with one less seat, and the musical chairs game starts again.
One area to watch will be small caps — the weak link in the equity bull run. While the Dow, S&P and Nasdaq have left their 2011 highs in the dust, small caps have been constrained. For small caps in particular, ugly action in the next few trading days could lead to the first meaningful submergence below the 50 day EMA (exponential moving average) in 2012. That would be a bad sign. Whither bonds and gold? The action in bonds and gold will also be instructive. The stronger the perceived chances of QE3 and economic downturn, the stronger the odds that bonds and gold both reverse higher. Even still, are these trends to hop on from the long side? We don't think so… it isn't clear how the final jobs report reaction will play out, and uber-bearish chart patterns don't turn on a dime. It would likely take a few weeks for gold and bond bulls to undue the damage of recent breakdowns — either that, or an extremely large and ugly macro surprise. China no good?
Whether or not bulls shake off the jobs hit, China continues to look ugly. If the U.S. recovery is indeed running out of gas, that just strengthens the already strong prospects for global slowdown. Again as I write on Sunday night, copper, crude oil and the Aussie dollar (AUDUSD) are all trading lower. This continues to be a choppy, challenging trading environment, with central bank holding patterns and surprise data point reversals all over the place. Last week it looked like bonds were off to the races, but this week it's a mulligan. Such is trading… the key thing is being Johnny-on-the-spot, with size, when the real move commences. Trade 'em well this week (as my boy Mike would say), JS  |
| India's gold jewelers call off strike, expecting tax rollback Posted: 08 Apr 2012 12:44 PM PDT NEW DELHI -- India's gold-jewelry trade associations agreed Friday to call off a 20-day strike, after Finance Minister Pranab Mukherjee promised to look into rollbacks on newly implemented gold taxes. Indian retailers have been protesting measures, effective March 16, that doubled the import tax on gold to 4% and imposed excise taxes on most gold jewelry. Earlier, the excise tax was applicable only on gold jewelry sold by large, private companies. Imports by India, the world's top consumer of gold, have nearly stopped due to the strike, impacting global prices. "We are more than satisfied after meeting the finance minister," said Bachhraj Bamalwa, chairman of the All-India Gems and Jewellery Trade Federation. "We and all our associated members have decided to call off the strike until May 11 and expect some favorable announcement by the finance minister in Parliament by then." – The Wall Street Journal article continues courtesy of our friends at GATA at the link below. Source: WSJ via GATA |
"Here's what's going to happen because of this bill. For business owners who want to take their companies to the next level, this bill will make it easier for you to go public. And that's a big deal because going public is a major step towards expanding and hiring more workers. It's a big deal for investors as well, because public companies operate with greater oversight and greater transparency.
Look, John Q. Public could lose his shirt in some shady Boca Raton scheme, or he could lose it top-ticking the Facebook IPO. Either way, Caveat Emptor applies.
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