Lazing on a Sunday afternoon

pmbug

Your Host
Administrator
Messages
7,432
Reaction score
14
Points
193
Location
Texas
The dollar seems to have popped to the upside a bit on the open. Any guesses on how the metals react on the open? I'm guessing they pop lower and trade up slowly over night.

 

pmbug

Your Host
Administrator
Messages
7,432
Reaction score
14
Points
193
Location
Texas
Looking like no pop at all actually. Sideways so far.
 

DoChenRollingBearing

Yellow Jacket
Supporter
Messages
1,275
Reaction score
0
Points
0
Location
SE USA
My Sunday afternoon was not as lazy, but in another way may have been fruitful.

My sister-in-law filmed me doing one of my Tai Chi forms (in Lurín, Peru), at some point we will put it up on YouTube.

And you can admire my $4.00 haircut too!

But, now I must get through Sunday evening, dinner is waiting for me downstairs... And then it´s back to my book (The Great Sea), by David Abulafia, brand new, a history of the Mediterranean... At some point I will write up a review, so far it´s very good.

That *SMACK* sound you just heard was another mosquito dying, literally, at my hands. One for the good guys!

Best to you all, it does look like we are going to have a wild week...
 

pmbug

Your Host
Administrator
Messages
7,432
Reaction score
14
Points
193
Location
Texas
Well, the metals did pop lower, but not right on the open. They traded lower in stages throughout the night. I'm tempted to buy some phyz right now, but I'm anticipating the possibility that they will move a bit lower before reversing course.
 

pmbug

Your Host
Administrator
Messages
7,432
Reaction score
14
Points
193
Location
Texas
ZH:
The metals space has had a rather disconcerting start to the week this evening with Silver and Copper dropping almost 2% from their opening levels and then Gold following suit. All this as the USD inches very gradually up tracking almost perfectly with Crude for now. These moves seem very liquidation-like in their velocity but have for now stabilized at the lows. The last few minutes saw some of the ugliest macro data we have seen in a while come out of India as it's Industrial Production growth missed expectations by a mile falling to levels only seen in the middle of the global economic shutdown in Q1 2009. ...
http://www.zerohedge.com/news/precious-metals-plunge-and-indias-industrial-production-crashes
 

DCFusor

Yellow Jacket
Messages
1,682
Reaction score
0
Points
0
Location
Floyd, Virginia
I mentioned intestinal fortitude earlier. I guess that'd be now.

Looks to me like a lot of the big boys whose only good decision ever was to have some gold are now having to sell the "relic" to cover a bunch of bad bets, flooding the market - they're well known for selling at the bottom...and being the bumbling idiots they are, they've all waited to the last moment and no choice, and are having to do it all at once, rather than the way even a fairly beginning trader would have done.

There might be a buyable dip in here someplace. I'm still waiting for the knife to stop falling, and maybe even bounce a time or two if I see a recognizable decay pattern in the bounces. Being a little careful with the dry powder - I'd not have it otherwise.
 

white&yellow999

Predaceous Stink Bug
Messages
239
Reaction score
0
Points
0
Location
USA
I'm tempted to buy some phyz right now, but I'm anticipating the possibility that they will move a bit lower before reversing course.
:agree:


Always have ammo ready to take advantage of the dips!!
 

DoChenRollingBearing

Yellow Jacket
Supporter
Messages
1,275
Reaction score
0
Points
0
Location
SE USA
While lazing about on Monday afternoon, I take advantage of this moment to advise that FOFOA has a new article up there at his blog. His emphasis, as always, is on physical possession of your wealth. He goes into more detail about how scary the MF Global failure is, how the cracks in the WHOLE SYSTEM are becoming more dangerous and yet more visible to the alert.

fofoa.blogspot.com

He wonders just how safe our money is even in the banks, what with all the hypothecation and rehypothecation going on. Not safe apparently.

This whole MF Global thing is starting to give me the willies... Should I bring back a set of Toyota Corolla front wheel bearings to barter our way home by taxi from the airport?

:giveup:
 
Top