Seems to me Ben and his bros made their decision months ago and confirmed 3 weeks ago they will keep watch. Assuming they do nothingor keep the twist going, I don't think this is going to be much of an event.
However, what he and his alphabet soup friend concoct for Europe is the next show. If they come up with the Trillion or so AND guarantees for depositors, we have lift off.
Anyway, will head on over to the new branch for Capuccino and donuts before stopping off and picking up the hamburglar helper for the shelf,just in case.....A run on the banks I can take....a run on the supermarkets is a horse of a different color.
In EW terms, I am looking for an extended 5th wave down in SLV, what do you think?
Today is no doubt an impulsive day down after a 1 month correction and the Fed decission kinda gives the nod to take down the comods, they wanted them all lower anyway.
Hi Chemaes, I was playing the upside in the miners with EXK,imo, they were going up for a few different reasons.
1.They were oversold
2.Short covering and buying in anticipation of central bank and Fed easing.
Yesterday was key imo for the near and perhaps the intermediate term future in PM land. The reaction to the Twist extention was weak, this gave the big guys the license to short again.
On a technical perspective, most PM stocks and SLV were able to produce nothing more than bear flags on the 3 month charts, time to make new lows imo.
Looking for SLV to get into the 25 area in the next week.
As we have said, we know there will be huge volatility.So intermittent drops and pops, but, IMO, the juice, the real propulsion for what's happening in the markets, I repeat THE MARKETS, is the monetary policy. Period. Thus far, this past 2 years the Fed and the Treasury believe the wealth effect from the markets is one of the few areas they can control and is critical to maintaining some order.They will stop at nothing to maintain it.Otherwise, we have chaos,and they know it.
They can and are inducing everyone to get into the "risk on" approach.
And that's what Geithner & Ben are preaching to their EU friends.
Regarding the PMs and miners, yes, absolutely agree. The trend started a few weeks ago.
Hey Levi good to see you post.
I've remained in cash for what seems like an eternity.recently, i examined the strength in the mining shares. Since the low last month the metal went up 11% and (silver)mining shares up 28%. this is the big 3 : PAAS, SSRI and SLW ~ all up 28%.
This is something we haven't seen in a long time. I think you have to watch this carefully for perhaps...shares outperforming the metal.
It was such a curious thing to me I went back to the SLW site for the first time in years to figure out when their new prod comes on stream to gauge potential leverage opp's.
I want to see what happens this afternoon, as fund managers really take their positions after digesting a full mornings tea leaves of market direction after benny.
Neighborhoods referenced to are on LI.
One is that supermarket, restaurant in same strip center and a Verizon store down the block.
And if anyone has good tech skills (java,.net etc) they can get work in a heartbeat.
All the while, stores stand vacant as well.
But meanwhile, the Fed stands ready for more QE. Well,I'll be......really? lol
Supermarket was empty and they are overstocked on HH.
Asked where is everybody? The manager was stocking shelves as he can't find any help. Really strange times he says.
More folks buy with "food stamp cards" and yet his help wanted sign remains affixed. He thinks they're all at the beach. Go figure.