Monday Markets.....Any guesses?

ancona

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So, anyone have their crystal ball warmed up? I think we're going to see a massive pump-and-dump starting Monday, and selling off in to Thursday and Friday. We should start to see massive lay-offs, as Christmas returns will have slowed to a trickle, and extra employees become redundant, eating in to those razor thin margins, made even thinner by all those returns that will have to be sold at a discount because the packaging has been opened.

I see another schwacking of silver/gold near-term, as the Brotherhood of Darkness tries to maintain the illusion of fiat strength going in to roll-over season for sovereign debt. Our congressional cowards will remain gridlocked over strictly party lines, stirring a lot of resentment going in to the election. Obummer will not want to see increasing unemployment, so the BLS will be directed to do their numerological magic, showing even more skew in the B/D model and "seasonality" factors.

By May, the facade collapses [at the latest] although we could see a trigger event, such as Greece exiting the union and revaluing the Drachma at 10 -1 euros. This will have the same effect as bankruptcy but without technically being a bankruptcy. An event such as that would explode the CDS market, since the mechanism required to trigger payouts will never happen, as the rest of the periphery joins the drop-out club.

Iran will continue to "talk up" the price of oil, which by the way is exactly what they are doing. It's kind of like a deer fly. They know they do not have the military might to take on the US and her cabal, but they know they can make scary threats and the market simply reacts with emotion, pushing up the price of their product. By falling for their bullshit, we are playing in to their hands. In fact, we are literally giving them money in the form of about a 20% premium [for now, but that could climb dramatically] on oil.
 

rblong2us

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ancona

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OK, so it's five fifteen, and I can't wait for Asia to open to see WTF is going to go down tomorrow.

Watching the radical movements in the markets on no true volume tells me that it's robot against robot.

Remember Rock 'Em Sock 'Em robots? I sure do, and that's exactly what is going on right now. Just look at the silver pit. Schwacked at the open, re-schwacked at teh close. Straight up manipulation. Asia is irrelevant.
 

pmbug

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USD trading up. Should see downward pressure on the metals at the open.
 

mmerlinn

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I have not looked at the prices yet, so I can still guess.

Based on what has happened in the last few weeks, I tend to think PMs should be down for a few days. I am looking for silver in the 27s sometime this week. After that I expect silver to bounce to the red line on the charts that I have posted in the last several weeks (will post again if there is interest). Next I expect silver to go down again, possibly to the black line, then scream through the red line and continue the uptrend for the foreseeable future.

Gold should follow a similar scenario. One issue about gold that we need to watch for is a repeat of FDRs gold grab of 1933. FDR grabbed the gold in 1933 just 1254 days after the 1929 crash. 1254 days from the 2008 crash is 31 March 2012. Will anything happen? NO IDEA.

But whether or not something does happen at that time does not change the fact that gold prices now, like then, are a thorn in the side of big government. Therefore, it is possible that another gold grab could happen if we get a severe runup in gold. The question, in my mind, is not if, but when will it happen?
 

KMS

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Today's opening is probably, most likely, from following China's +3%. ZH had a write up on why, The story. Just sharing, for those that aren't up yet to enjoy later.
 

DSAbug

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Gold shares are mostly down in sympathy with HL -27% after one of their mines closed temporarily. RGLD didn't help matters by doing a private placement.

XAU is up .15% GDX is down about 60 bips.. Overall, my screens are about 60/40 red/green split at the moment.
 
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