2026 TeoTwawKi ... 2032 Darkest Interregnum Message Board

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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 445.60

-10.1%

Jan 30 4:00 PM EST

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To: TobagoJack who wrote (77044)	7/29/2011 7:26:31 PM
From: 2MAR$	Read Replies (1) of 219932

Its been such a week of intense trading the volitility since this week's weakness with billion's in assets pulling out was the only natural course from last weekend's assurance the pigeons in DC were going to politic right up to the last moments of next tuesday . This pullback was measured each day as you saw them bounce it today still right off the 200ma again on the S&P like clockwork.... yet many earnings reports were met with some of the heaviest selling as this slowdown materialized in their guidance, some taking 12%, 20% & 30% hits this week . And many of these were already significantly down and now hammered even more on lowered capex spending & missed profit targets even with all the cost cutting . (The GDP #'s today were no surprise & QE3 is as much a given as is the Greek default ) The inverse correlation between Ag rise and S&P fall while still significant suffered slight erosion with some renewed Eurozone sovereign concerns , lightly bolstered the USD so trimed Ag's ability to capitilize further on that risk aversion . The US dc-debate still has center stage & this fiasco still takes Ag one more step the better trade going into the weekend , so sleep well. In tray : " Two alternative scenarios are important to keep in mind....first, the US debt impasse has already sent billions in jittery capital out of asset allocation and into cash, which pressures the US Dollar higher. Second, ultra-low US borrowing costs are likely to be pressured higher as uncertainty on the deficit-reduction front persists, squashing inflation expectations and sapping demand for gold both as a hedge against rising prices and as an asset that yields nothing. Easily expected this weeks fall , traded short as fast & furious where i could knowing money would be coming off even the blue chips but not enough to be worrisome or effect their rising trend status , pullbacks everywhere to be sure but todays bounce showed many still maintaining their bullish stance that might panic some but was showing me some strength amidst the weakness . Even the trade in Silver found me taking it short @ that $41/ resistance seeing it as the top which netted almost 20pts to the downside on the AGQ from $230 pivot top high . There's been as much hesitation in the PM's as there has been in the market in general here as it has priced in this last rise much of the worse case...and again the market bounced with such a bad GDP this am. As much as one would think there's more grief in store for the market and those that missed got punished severely, they're still clinging on to this "soft patch" thesis as witnessed by many of the stronger issues still trading well within there uptrends & other many favorite stocks that did pull back , still got bounces off reasonable lower support just today . That leads to the idea that there will be something of a rally after the DC gets passed on tues as American politics & Washington's "democracy in the spotlight" reality show may be messy but in the end they get the job done . Of course after they've all had their turn waving their partisan flags ...we have all watched too many Disney movies to be otherwise . A trillion here & a trillion there ...a $Trillion off military spending & a few $Trillion off entitlements and have no clue about the taxes ...but most importantly a few $Trillion the Fed gets to play with out of this ...and there's your QE3, bet they can't wait to get hands on. So AG could do a quick trip up to 1650 or just bump around here at 1625-30 R & go back down to test lower supports around 1595 but think the long term trend still ok ?

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