Everyone who want to short already shorted. They will cover at some point.
Market sentiment at highest bearish level, Everyone already assumed Ukraine and Iraq resolved. And Fed will raise rates soon. Bearish news already priced in IMHO.
And 1270 is major technical support.
Whatever we lose next three days from the economic news and Yellen we will recover quickly. Because shorts will have to cover quickly before the physical buyers come in. Friday afternoon we usually get a rally because of all those wars going on.
Paying almost 10% ,most REITs are paying only 4% to 6 % nowadays.
Our REIT could literally be valued at $20. And we could still get $3 for a no dividend telecom service co.
I'm in the Houston suburb of Sugar Land. Former farm land turned into high class suburbs. Land value skyrocketed 20 times. Those legacy rural phone companies have a lot of those hidden gems.
Windstream WIN is spining off real estate into a REIT. FTR also up big. I've always wondered about those legacy phone comanies that specialize in suburban service. Former farmland that has seeing land value skyrocket 20 times.
Big bad event 'Yellen speech' is over. Not much negative news on the horizon. Tight labor market is boon for inflation, higher rates mean bigger Federal deficit to pay interest on the $17 trillion debt.
What more is there on the horizon ? War and financial crises. Debt and deficit . Corruption of Wall Street and Washiton.
Gold didn't drop yesterday on that news. Has recovered most of the loss this morning. Silver has completely recovered.
The jobs report should be looked at positively for gold. Tight labor market always lead to inflation. Which is the unspeakable target of the Fed. To inflate away the debt and deficit.
Ten years ago a dozen egg was 70cents. Today $1.80. Ten years from now it will be $5. Real Estate has doubled or tripled. US$ losing its value everyday.
Libya announce opening two sea ports for oil export. Allowing half million barrel a day out the country through rebel held port. Brent dropped a dollar. This took gold down along with it. We still have the all important? non farm payroll at 8:30.
I see no major downside from either news. Blood is boiling hot through out mid east. ISIS has won admiration, loyalty of Muslim youth. As US plots to martyr their caliph things could only get worse. And another US puppet dictator in Egypt is planning to execute 500 people for opposing the military coupe that overthrew a democratically elected government.
Gold closed up. Sliver real strong. If gold doesn't go down tomorrow on a oustsized non farm payroll I think will be extremely bullish for gold.
Alright , bear raid starts. Down $5. Factory order at 10am. Yellen speak at IMF at 11am. Tomoroow non farm payroll,unemployment claim, jobless rate and ISM.
Expect good numbers, Gold support at $1320, then 1310,then 1300. 1300 is critical for bulls. This maybe the last bear raid before second half rally starts.
Estimate was 179k. Ten minutes after ,gold still holding up strong. Down only 50cents. A year ago gold would have tanked $50. Job tightness creates wage pressure, feeding inflation.
Agree. Which is why this latest round of lay off is house cleaning before putting company for sale.
Maybe worth $3+ in a buyout.
Worked again. As soon as Nymex closes. Gold and silver tanked this afternoon.