Monday, October 3, 2011

Dining at the FAZeteria

6:38 pm (Hawaii) It was too long of a day with work to feel the usual sour grapes I would after missing a $10 run in one of my preferred trading weapons (FAZ). I sold on Friday at 66, playing it safe, going all cash. Today, after it sold down to 64+, FAZ hovered at 66-67 until breaking higher at a parabolic pace. I got up from bed in time to see it dip below 71, paused, and it went up to 74 or so. I had my chances to enter, and as it closed out the day above 75, I have to wonder: What will the Euro banksters and politicians do to save their currency and their stock markets? Or will they just let it flop like a fish out of water until (mostly) everyone there begs for cheap fiat?

With gold and silver rallying, this was finally the kind of day I could recognize: precious metals and FAZ rising simultaneously. Maybe the banksters and hedge funds are done liquidating their gold and silver positions. Or maybe they're setting silver up for another paper blow-up, shorting it to kingdom come.

So this could be the beginning of "Shocktober." Or it could be just another down leg in a range-bound market. Support levels were broken today, they say on CNBC, but it's really about headline risk and puppeteering by the banksters. They can't stop their stocks from imploding, but they can do plenty elsewhere. It wouldn't surprise me if they were shorting their own stocks on the way down, covering just before news of a restructured monetary system is announced. They're smart that way, crooked to the bone.

FAZ at 55 was nice. FAZ at 65 had me hesitant. FAZ at 75 ... I have to believe it comes back to 70 for a breather tomorrow. Otherwise, this might be more than a correction. This actually might be a new era, one where the banksters implode and we enter a new world. I have no problem with that, just that I'm flush out of FAZ and it may never come back to 55 or 50 again.

Today would've been a great time if I weren't exhausted and working. Tomorrow, I get time off. It'll probably be a lot less active in the market, and I'll be wide awake watching nothing much happen. But I'm stocking up on Red Bull tonight anyway. The perfect scenario would be a bunch of BS bullish news out of Europe that sends FAZ back to 65 ... followed by doom and gloom by lunch hour that sends it up to 75 and beyond. The recent high of 81 is going to fall soon, just a matter of when.

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