Thursday, August 4, 2011

Thursday cinema & library

Molokai Library

11:16 am (Hawaii) Should be an interesting roundup of vids and blogs today and tonight. Most of us have heard and read enough about today's blowout. I'm interested in hearing from people who have a strategy for tomorrow (jobs report) and next week.

Still exploring possibilities.

1. If USD rallies, PMs crap out. I'll hold my physical, but consider UUP for the ride up.

2. In that case, I will also have a position in ZSL (silver 3x bear) and/or DUST (gold miner bear).

3. If Euro zone goes austerity-happy (leading to more USD rally), banks will continue to tank and FAZ is a must.

In any upcoming trades, nimble feet and fingers are required. Just about everything is headline-driven. All dips in PM price will invite more metal buying. Stocks? Earnings reports are mostly done. AAPL, BIDU and other momos don't have catalysts in the near term. Tomorrow's jobs report, further economic news from Europe, major job cuts ... none of it is bullish. Top that with a dose of fear and we have a 500-point drop in the Dow with possibly more to come tomorrow. I just don't want to be in FAZ and ZSL when Bernanke sounds the horn for QE3.

Scaramucci: QE3 would be good for the market, bad for the dollar.

Update 4:00 pm (Hawaii) It seems more and more that the CME mafia does its darnedest to take silver and gold spot down as low as possible at the end of the US trading day, knowing full well that Asia and the Auzzies will bring it back up. They love a discounted price down under. No panic selling in the PMs out there: gold at 1649, silver at 39.25.

Update 6:53 pm (Hawaii) Any chatter about the US Dollar making a comeback reminds of President Obama's heavy investment in Treasuries (personal portfolio). I don't see any reasonable way the dollar could rally once Euro issues calm down. Maybe that's all it'll take for the dollar to rise and PMs to dive. Nah. But if it did, China, Brazil and a whole lot of people would ease up on buying gold. Just a thought.

CNBC: Dollar's next move (Aug 4)
BBC: Jim Rogers (part 1) (part 2) (June)

silverfuturist: Big down day across markets (Aug 4)
Turd Ferguson: (am) Opportunity knocks (Aug 4)
Turd Ferguson: (am) The great raid that wasn't (Aug 4)
bullorbearreport: Firmly in bear mode (Aug 4)
VictoryIndependence: Market set up for QE infinity (Aug 4)
endlessmountain: Silver intraday crash update (Aug 4)
endlessmountain: Market turmoil update (Aug 4)
endlessmountain: Global markets in turmoil (Aug 4)
stellaconcepts: How to hedge (Aug 4)
jackieochannel: Silver Circle movie interview (Aug 4)
Stock Mentor: Market wrap (Aug 4)george4title: 500-point drop in Dow: The Third Wave is upon us (Aug 4)

Peter Schiff: We're going back into recession (Aug 3)


Jon Najarian: Flash crash redux (Aug 4)
Scott Blier: What now? (Aug 4)
SGS: Silver hit worse than anything else, shocking (Aug 4)
Joe Weisenthal: What QE2.5 might look like (Aug 4)
Henry Blodget: Here's the problem with this market crash (Aug 4)
Joe Weisenthal: Roubini: QE3 has begun (Aug 4)
Joe Weisenthal: Euro bounces after Trichet says two magic words (Aug 4)
Joe Weisenthal: Another worrisome similarity between 2011 and '08 (Aug 4)
Courtney Comstock: Investors hoarding piles of cash at banks amid market freak out (Aug 4)
Dina Spector: This guy is making tons of money selling NYC trash (Aug 4)
Julie Zeveloff: Louis Vuitton is making honey on roof its Paris headquarters (Aug 4)
John Ellis: What we need is the Geuro and the Euro (Aug 3)
Nigam Arora: Short selling silver again (Aug 1)
Kim Bhasin: 8 ways to make your home office space more comfortable (Aug 1)

Blog commentary

Metal bling

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