Tuesday, August 9, 2011

Tuesday evening cinema & library (updated 2 am HST)

Waikiki

12:00 pm (Hawaii) He's right about this.

Cramer: Bernanke just shot Treasury bonds in the back of the head, making equities the most attractive place to go. He guaranteed that CDs won't keep pace with the rate of inflation.

Update 1:40 pm (Hawaii) Really tempted to start scaling into AAPL and/or add to DGP. I had this dilemma yesterday with DGP at 60.27 and opted to not add. DGP now at 63.25 as Asia trading begins. Asia has been big on gold lately while price comes down stateside, though hardly enough to stop this gargantuan run.

I won't mind staying put here and saving some powder for tomorrow, but the possibility of Bernanke staying quiet for 17 more days (Jackson Hole) could permit upside momentum to go wild. There's also the possibility that further chaos in Euro and/or US banks could lead to another series of crashes. For now, the momo is rising, so ... then again, the robot space alien machines put the turbo boost into final hour of trading. These evil machines could easily take the market back into the red before the opening bell tomorrow.

It's a maddening environment. I'd like to run my fingers through a treasure chest of shiny gold coins and be done with the lunacy.

My Regular watch list is 84% green going into the close of after hours trading. Metals list is 72% green. Volume is fairly strong across the board. Machines?

Update 2:00 pm (Hawaii) Scott Nations: "Our markets cannot rally as long as a bunch of people think they're better off holding gold."

Really? I'm in favor of both: ride the market up or down, and accumulate physical gold and silver.

Just opened a medium position in AAPL (at 375.45) and added more DGP (at 63.40), both before the close of after hours trading. Spot gold is at $1,763.60/oz. Basically, it's the angel price of Jim Sinclair. That's not why I'm adding here, though. If the market tanks, gold will protect. If the market rises, Asia has proven enough that it will continue to keep gold moving forward and higher. The debt crises of the US and Europe (and soon, the real estate bubble of China) are all intact.

Fucking beats losing to inflation every day.

Update 2:15 pm (Hawaii) Liesman (CNBC): Pegging the date (mid-2013) makes this Fed move more powerful than QE2 was.

Anybody believe him?

Blogs
(new) Turd Ferguson: (pm) Silver to $44 (Aug 9)
(new) Jim Sinclair: In the news today (Aug 9)
(new) Silver Shield: 10 reasons why gold is gut reaction, why silver is smart decision (Aug 9)
David Schawel: Stealth QE3 is upon us (Aug 9)
> "Not the explicit 'Operation Twist' that many expected, but essentially the same thing."
Dave Fry: Market volatility on steroids (Aug 9)
Le Fly: (pm) Can we resist the temptation? (Aug 9)
> "Providing the ECB controls the bond vigilantes in Europe, there is no reason to believe we will not charge higher by another 500 Dow points."
Scott Blier: Downgrade? Phhhhhhtttttt... (Aug 9)
chessNwine: (pm) Multi-punch combinations (Aug 9)
Le Fly: (pm) The Chuck Bennett Bottom (Aug 9)
Le Fly: (pm) We're on our own (Aug 9)
Le Fly: (pm) Happy to get some of my money back (Aug 9)
Vlogs
chessNwine: Stock market recap (Aug 9)
Realist News: Worried about silver? LOL, why? (Aug 9)
Casey Research: The Great American Debt Crisis (Aug 9)
BrotherJohnF: Silver update - Game changer (Aug 9)
chessNwine: (am) Prior stock market crashes (Aug 9)
> Perspective of someone who has never traded a stock
Realist News: Monday Bloody Monday (Aug 8)
SGTbull07: Meltdown: Gold explodes, Chapman interview (part 1) (part 2) (Aug 8)

Audio
King World News: Nigel Farage (Aug 10)
King World News: Peter Schiff (Aug 9)

Reports
Federal Reserve: Press release (Aug 9)
Video
(new) Bloomberg: Marc Faber on the Fed and gold (Aug 9)
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