Warp, et al: Here are some ideas, mostly long and tech, I
will act on later, not now:
stockcharts.com|B|F
All but the last two are stocks I'm looking at to buy; I shorted RYL and JPM next to the close Friday. Doing it next to, not at, the close cost me, because JPM ramped $.50 on huge 4:02 p.m. buy volume. Being now cynical about gov't machinations, and given my fundamental reasons for being short JPM and long gold, I don't think it was value players crowding in, but officially sanctioned firefighters at work with one eye on JPM's hedge book and another on the gold price. Stop a meltdown before it starts has to be the feds' watchword with the dollar teetering here. I may be early but I've kept LT protective calls in place on JPM. I'm using a tight stop on RYL; could be early there too but I like the bumping up and down from resistance.
I used to scoff at the Le Metropole folks (i.e., GATA) as loonie tunes fringe elements, until one of their contributors uncovered the evidence (in federal records) suggesting huge "loans" or swaps of US gold with Germany, such that we hold German gold in trust over here. The inference being that we swapped our gold for theirs, sold our "German" gold over there, and thus much of the gold in our vaults (how much?) is what we hold in trust for Germany or others.
All that would be required to dissipate my cynical view on this issue is for the feds to make a full, explicit, verifiable response to the accusations (I think it was Reginald Howe who uncovered this). I think the president wouldn't outright lie straight to the American people about such a huge breach of trust as selling off a large part of our nation's gold. Understandably--if they did it--the feds prefer to ignore the issue. |
