1:32 am (Hawaii) Less than half an hour until peon traders (me) can start entering and/or exiting positions. It's rare that I get a whole lot of reading done this time of morning, but with the possibility of a debt ceiling delay or compromise any day, any time, I'm in red-alert mode. Plus, the 16-oz energy drink really works.
I refer you to Le Fly. He is often right. Not always, but often enough to clear the bases and score big when he makes contact with splitters, curveballs and even spitballs. He advised to go long on WNR a few months back. I sided with him, bought at about 17, dumped out at 15. It is now at 21. He held through the muck and crap, knowing the fundamentals of oil refining and this specific company would set him high into big buck gains. He endured the pain. I didn't.
He's very sure about the coming post-debt ceiling "agreement" rally, as are many market watchers. I have no doubt precious metals will sell off on the equities rally. I'll be waiting for entry points when that rally runs out of fuel and metals are ready to bounce. It'll be more about physical than paper at that point. How can it not be? I'm sick of my dollars getting eaten away by inflation and I'll be sicker when hyperinflation kicks in — if I'm still holding fiat currency. I plan not to be in that shithole.
Yahoo: New recession 'unlikely,' Schwab's Sonders says (July 28)
Dylan Ratigan: Does Washington understand why America is in debt? (July 27)
chessNwine: Stock market recap (July 27)
SilverTraderFM: Did you know, part 2 - Gold rush panic, Dr. Paul's US of Default (July 27)
SilverTraderFM: Did you know, part 1 - Gold coins, similarities and differences (July 9)
Reuters: Jobless claims fall below 400,000 (July 28)
Reuters: Futures rise after jobless claims data (July 28)
Reuters: HSBC may cut more than 10,000 jobs (July 28)
Reuters: Shell, rivals tackle lower output as profits soar (July 28)
AP: First-term Republican plans to vote no on Boehner (July 28)
Bloomberg: House debt-limit vote sets stage for showdown (July 28)
Tony Pallotta: Ominous similarities (July 28)
Le Fly: Manufactured uncertainty (July 28)
Jake Gint: A gentle reminder (July 28)
Le Fly: It's time to man up (July 27)
Le Fly: Chat transcript, Stocktwits (July 27)
Scott Blier: Deep (yet simple technical) thoughts... (July 27)
> "Any deal ... will be met with a turbulent sell the news reaction that most everyone is waiting to buy. So expect the unexpected, like a failed rally followed by a trip to the bottom of the trading range with a failed bounce and then a breakdown. My work still shows that we will give back at least half of the gains from QEII, or a test of the low SPX 1200 area."
chessNwine: Looking here for relative strength (July 27)