Well at this point gold has managed to climb back above its daily 200 SMA but is being held just below the 50 SMA. The miners although all green on my list are not extremely strong IMO in spite of gold being up almost $20 or 1.5%. But I attribute that to the fact the big three are finally seeing a correction. A long overdue correction at that. I am short the E-Mini S & P right now looking for a slightly lower level yet. A little bit of reality setting in today.
On another note I love ( vast amounts of sarcasm) the way these central bankers use words to move their currencies and markets as this tidbit was released this morning. Can or will the Fed be far behind as the currency wars and fiat debasement continue in earnest. Gold and our miners will once again see their day in the sun as this insanity continues to those patient enough. I have given up on the day to day and even week to week noise and consider these holdings as "Sock Drawer" holdings. Let them sit and see what they look like at the end of the year and next year and the year after that. Those with this kind of long term view will be very happy campers in another year or two. Let's face it what sector is cheap and at fire sale prices right now. The S & P, Dow, Nasdaq, Russel and there affiliated over inflated equities, bonds, or our hated mining companies? When the money starts flowing out of the broad markets and is looking for value with the greatest upside potential I believe this will the sector they choose. Aside from holding in cash
ECB "Models" €1 Trillion QE
Submitted by Tyler Durden on 04/04/2014 - 10:21
Update: in direct flashback from the summer of 2011 when the ECB leaked news only to retract it within minutes, this just happened: CONSTANCIO: DOESN'T KNOW ABOUT 1 TLN-EURO QE MODEL REPORT
When in desperate need to crush your currency (being bought hand over fist by the Chinese), so urgently need to boost German exports, since you are unable to actually do QE as per your charter, what do you do if you are Mario Draghi? Well, you leak, leak, leak that you are contemplating QE, and then you leak some more. Such as today.
- ECB HAS MODELED BOND PURCHASES UP TO 1 TLN EUROS, FAZ SAYS
- ECB TESTS SHOW INFLATION COULD BE BOOSTED 0.2% TO 0.8%: FAZ
Like US inflation soared on the $1 trillion QEternity? Can't wait. In other news, expect zero reaction from gold on this latest news that another $1.4 trillion in fiat is about to flood the market. If only inbetween Mario Draghi's jaw bones. |
