Tuesday, August 9, 2011

Tuesday morning cinema & library (updated 915 am HST)

7:08 am (Hawaii) Are we due for a real eruption? An hour until Helicopter Ben speaks. Not that he will get straight to the point. Nope. But the market is already up big and looking to recover all the losses from the past two weeks. Not that it is guaranteed to happen.

If Bernanke's effect is 90% bullish, I will open a small position in AAPL. Probably.

If Bernanke is dead-set down the middle-of-the-road neutral with only the slightest hint of support of the market, that would be 50% bullish, 50% bearish. That would leave the market at the whim of recent trend and momentum. Selloff. Slowly, but then at warp speed. Again. I'd be tempted to unload GSVC and XG at that point. Small positions, but small caps get hit much harder in a panic move, if we get that.

If Bernanke says absolutely nothing bullish, take refuge. I'd get more metallic via gold. Definitely hop on FAZ and TVIX. It wouldn't just be a shitstorm if this happens. It would be an acid-rain-cow-pies-on-fire-molotov-cocktail shitstorm.

Funny how Cortez, on Fast Money Halftime, is saying the same thing Gartman said two weeks ago: A crowded trade in gold means it's time to get out. When Gartman said that, spot gold was somewhere around 1550. A week later, it was back to 1650 and Gartman got back in.

Don't these "professionals" know that crowds are what move prices? Oh, crowds and algo space machines.

CNBC: "How bad would things have to get before the Fed would have to buy equities?"

Are they kidding? Like it doesn't happen already? Funny how they asked Liesman that question. Why not have Schiff on for the comeback truth? Hilarious.


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)
> 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)




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