Friday, February 14, 2014
I've missed most of this week due to a cold, lung spasms, and generally just feeling shit, so here's a bit of catch-up for y'all:
Reformed Borker (Bork Bork Bork!) - five reasons we hate the stock market. As he notes, the feeling of market disgust among the masses is necessary at the start of a secular bull.
BI - that 1929 chart is bullshit. I said it was bullshit months ago and I pointed out why. It's sad that bandwidth is still being murdered over this childish prank.
BI - that 1929 chart is bullshit, again. Here's a suggestion for you: write down every website where you found that 1929 crash analog chart. Then edit your hosts file to set those IP addresses to 0.0.0.0. Boom! Now you've forever blocked idiotic sites that do nothing but separate you from your money.
Reformed Borker (Bork Bork Bork!) - that 1929 chart is bullshit. Nice to have someone on the internet with functioning long-term memory: fatty points out that the fearclowns were calling attention to the fearsome parallel in 2009 and 2010 as well.
Mineweb - time needed before gold breaks $1300 says Julian Phillips only yesterday. So now you can ignore Julian Phillips, since he obviously has no fucking clue what drives the gold price.
Things you should have learned by now:
1. Gold is a market. There are buyers and sellers. Identify them.
2. The market doesn't care about your stupid politics.
3. Staying wrong is a great way to lose money.
4. A bear market is a great opportunity to identify the clowns who have no read on the market.
5. Before you buy the shtick of the guy who was saying "I was right all along!", now's a very good time to google his previous predictions for the past two years to see whether he really was right.
I remember finding this single at the station and absolutely loving this song.
So here's your Valentine's Day video for you!
And here's my favourite song by Love Child, which is probably also about love, and which they did after they started to grow up:
Check it out:
Gold is $1316, bitchez!
Now, here's your gold quiz. Choose the answer you think is right:
Why is gold up?
1. blah blah inflation.
2. blah blah US dollar collapse.
3. blah blah Syrian conflict blah blah Ukrainian unrest.
4. blah blah S&P 500 is collapsing.
5. blah blah Janet Yellen blah blah money printing.
6. because there's this thing called supply & demand, and Whitey has no gold left to sell, so thus the price goes up.
I eagerly await coverage of gold's new bull market by the JewStream Media.
Thursday, February 13, 2014
Wednesday, February 12, 2014
Did the juniors just go down because people want to sell it when it's 3 standard deviations up? Maybe a lot of people who bought at $30 are taking their 30% profit and calling it a year. I guess it remains to be seen whether their cycling out brings new meat in. The volume seems to suggest there's new meat out there.
Gold isn't suddenly looking bad or anything.
Maybe this is your opportunity to pennyflip a strongly volatile uptrend in junior miners?
Question is, when does it stop. "It" meaning either the uptrend, or the volatility.
Monday, February 10, 2014
Here's news, with added swearing cos some cunt gave me the fucking flu and nobody at home is letting me fucking sleep:
Bespoke - earnings and revenue beat rates remain strong. This is despite what the zerohedgers want you to believe. Just buy the fucking Nasdaq and fuck off for 10 years.
Calculated Risk - reasons for a 2014 pickup in economic growth remain intact. Just buy the fucking Nasdaq and fuck off for 10 years.
Bloomberg Radio - Michael Shaoul mp3 interview. On the five crashes we've had since 2009 and how they were all buying opportunities.
Reformed Borker (Bork Bork Bork!) - funds don't follow value, they value performance. How the market really works. That's why you don't buy shit that's going down no matter how much of a value it is.
Ritholtz - ideology is killing your investment returns. Read this. Especially if you're a purported "analyst" with a "newsletter". If you want your newsletter to propagandize for Rand Paul, make it a political newsletter; if you want to write a gold stock newsletter, quit listening to all the idiotic fucking ideology that's being spewed your way. Simple hint: if you can hear it from ZeroHedge or Max Keiser or Alex Jones on Rand Paul or Doug Casey, then it is wrong and you should have been ignoring it all this time and if you haven't been then do yourself a fucking favour and start ignoring it now.
Bloomberg - what if Germany is booming and nobody is noticing? It's actually bad for the ECZ, because you want Spain and Italy to boom - not Germany. Germany booming will just re-create the structural problem they spent the past five years "correcting" by starving swarthy latins to death.
Reformed Borker (Bork Bork Bork!) - EM bullishness. Read his previous article above, then ask why the fuck you should buy shit that's still going down. Goldbugs (should have) learned that you don't buy value, you buy the inflow after the bottom: this is because you have no fucking clue where the bottom is. So people buying EMs right now are fucking morons who are not only ignoring the fundamentals (the start of a secular EM bear/DM bull) but also the chart (it's fucking going down).
FT beyond brics - dealing with 500M tonnes of steel overcapacity. This is what causes an EM secular bear/DM Secular bull: a mess of cheap capital in the EMs builds massive oversupply, which provides DMs with cheaper materials right as EMs see their own demand for raw materials collapse as cost of credit skyrockets. If you don't see the writing on the wall for EMs by now, frankly you're a fucking tool.
Chronicles of Brodrick - is the gold bull back? Should be, maybe. Though gold demand being supported by EMs is a bit of a problem, I think. Still, I doubt EMs should crash - just go through a long slow ten-year bear market. So $1400 gold by December should be quite plausible. And it should be a good year for the half-dozen good junior miners, since their prices got puked down below sillycheap to stupidcheap over the past two years.
Sunday, February 9, 2014
IKN points out that Augusta Resources started going up well before the news release of this weekend.
So apparently someone at Hudbay, someone at Augusta, or someone with magical powers of ESP was spreading the news and loading up on the shares long before this material information became public.
Do the securities regulators ever bother to do anything when it turns out people are trading stock on material developments that have not been made public?
I guess that chart is your answer right there. No they do not.