Thursday, September 29, 2011

Thursday cinema & library

Brad Pitt, Jonah Hill in Moneyball

A lot of reading and viewing to catch up on. Missed out on a lot of good stuff yesterday, posting it all with today's goodies.

Below is FAZ daily chart over 2 years. The small box at bottom left is the week of May 9, 2010. Note the meltdown leading into that month, then the runup until the bailout was approved. FAZ sold off, naturally, but stayed in a tight range for about a week before exploding again as the riots in MENA escalated. The initial support during that time was roughly 72, the same level that the recent highs were at in the past few weeks.

The difference this time around is that chaos and riots aren't expected to be as numerous across the continents. Maybe, just maybe this time FAZ skips the wild range of the large box and goes into a gradual decline as it did in Fall of 2010 through Spring of 2011. I don't imagine it would be that long of a time span because we not only have pending defaults of entire nations, but exploding debt. Plus, the new bailout is a stop-gap, a band-aid, not a solution, not much different from the first bailout.

FAZ 2-year chart
Price is just about the same with today's official approval by
Germany (for a Greek bailout) as it was on May 9, 2010,
when Greece received approval for its first bailout.

With Euroland going the route of Fed-flavored death by toxic debt, that should be bullish for gold and silver. The question about sovereign debt and banksters and dependence on fiat printing has one fundamental answer: it ends in catastrophe, revolution and/or compete overhaul. It's not a matter of if, but when.

Update 3:37 pm Won't be long now until we see whether FAZ at 60 was a discount or just regular price. 66 is the high end of this megaphone pattern. 54 is the low end. I hesitated before buying at 65 yesterday (among other prices), so why would I avoid buying at 60? Human psychology. FAZ could go lower just on momentum. When it turns around, I'll be watching and ready. Next time I'm holding FAZ, I'm going to much much, much quicker, in and out. Holding it is like holding lit dynamite sometimes.

(new) SGS: TA on paper silver chart (Sept 29)
Reggie Middleton: Foolish talk of German bailouts once again (Sept 29)
> "This was the problem that I had with Paulson's original TARP idea. It just won't work because it doesn't solve the problem. Instead it attempts to conceal the problem."

Dan Norcini: Gold market has calmed down a bit (Sept 29)
Le Fly: Insane S&P losing streak (Sept 29)
Zero Hedge: The 'muddle through' has failed: BCG says only painful ways out (Sept 29)
Le Fly: Crazy fucking trading robots (Sept 29)
Zero Hedge: Market snapshot: What a day! (Sept 29)
Woodshedders: Russell 2K intraday: Probing the 200-day lows (Sept 29)
Le Fly: A final warning of sorts (Sept 29)
Le Fly: Fuck this shit (Sept 29)
> "We're going under 1,000 of the S&P and there is nothing you or your stupid fucking friends can do about it."
Le Fly: Run for the hills (Sept 29)
Le Fly: Extreme weakness, just beneath the surface (Sept 29)
Cain Thaler: Greece will still default (Sept 29)
Zero Hedge: Boycott Bank of America, which is about to institute $5 debit card usage fee (Sept 29)
Jake Gint: Bloody exhausted (Sept 29)
SGS: Paging Blythe (Sept 29)
Scott Bleier: My version of copper chart-art... (Sept 28)
Rajun Cajun: Real estate next to go (Sept 28)
SGS: No title needed. Yawn. (Sept 28)

(new) Keiser Report: Alessio Rastani telling truth (Sept 29)
(new) endlessmountain: Nine reasons Dow crashes in Oct (Sept 29)
streetmoney21: It's not over playa - part 2 (Sept 28)
BrotherJohnF: Silver Update - Saving silver (Sept 28)

Peter Schiff Show (Sept 29)
Turd Ferguson: Podcast #3, guest Bill Murphy (Sept 28)


Metal bling

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