Question is - Is this a one day sell off for Euro - stock markets or a downward trend? Too many times I've bet that a market correction is coming only to have the market rally the next day. You would of thought the Italy election news a few weeks back would of sent the DOW down 300 - 400 points but as usual no big. Market race higher. Got a feeling the Euro drops hard this week but everything else just sells off for a day or two.
and could dip Sub-$400 by Thursday - Friday. Raising Apples dividend will not push stock higher. Its a non factor and Cook seems to be lost now since Apple could be a year away from announcing anything of importance.
Because things in Cyprus, Italy, Spain are all getting worse. Or do we pick up our toys and walk away from Uvxy before 4 pm?
More like $20 a share. China numbers are weak and we all know flawed. Italy has no government and now Cyprus banks are closed for business. Best time in the world to be in EDZ, but only if it goes up.
If world financial markets like this news, things are whacky. Japan and South Korea are on edge yet world markets act like nothing is new. That is a mistake since there is a 28 year old nut-job leading North Korea military which means "war" could break out at any time.
More people filing for unemployment and guess what. Sequester layoffs have not even started. But they soon will with close to one to two million federal workers and private sector workers who contract with government getting laid off. Throw in North Korea crisis and forth coming (Sell in May and go away) and you know have to the perfect time to go long UVXY.
Market selling off into open. And everyone knows if we see another market sell off today (after 111 point drop yesterday) a correction trend could be starting. You never know where the bottom is with uvxy, but at 7.70 it might be time to buy hand over fist.
Sequester job cuts coming this spring. summer and fall. Add North Korea crisis for some "spice" and you have a major correction cocktail coming.
I think today sell off (Gold off $50 now) is just a prelude to a major sell off next week. Cyprus opened up a huge can or worms for gold bugs, since its now quite appropriate if not necessary for countries with huge debt to sell off their gold holdings. Don't try to catch a falling knife guys - this thing could be $100 a share before you knew what hit you.
See everyone at $141 at close. Could we open at $136 Monday???
and you all know its going to carry over into next week and beyond. Add some resolution to the North Korea flare up and DZZ could be flying over $10 a share headed for $20.
on news the North Korea is a non event (as if it was ever), more analysts call for gold correction and U.S Dollar firms. Now the question is where is the bottom $70 or $80 a share?
Yahoo is in play now. As a stand alone company with a bright future and "push all the right buttons" CEO. Its also a takeover target with big boys like Apple, Microsoft and even FB looking very closely at it. Could be last day to buy under $25 a share today. Thinking maybe $29 to $30 by the end of next week
Sentiment: Strong Buy
Approaching $!42 now but fun starts next week. The floor will give out on GLD and new lows will be hit daily. All Aboard
: "No willing buyers seen." And that will be the pattern next week, the rest of April and well into the summer.
Gold has faced stiff headwinds lately as investors abandon alternative investments to chase record-high stock markets. Probably the most significant has been the major selling hammering the flagship GLD gold ETF. It has suffered such intense differential selling pressure that its custodians have been forced to dump enormous quantities of physical gold. What are the implications of this flood of new supply?
The amount of gold bullion GLD has hemorrhaged recently is amazing. To put it into perspective, earlier this week the rumor that embattled Cyprus may be forced to sell its official gold reserves made news. The Cypriot government owns 13.9 metric tons of gold. But on a single trading day alone in February’s gold capitulation, GLD had to sell 20.8 tonnes! The supply recently added by GLD dwarfs everything else.
Gold has faced stiff headwinds lately as investors abandon alternative investments to chase record-high stock markets. Probably the most significant has been the major selling hammering the flagship GLD gold ETF. It has suffered such intense differential selling pressure that its custodians have been forced to dump enormous quantities of physical gold. What are the implications of this flood of new supply?
The amount of gold bullion GLD has hemorrhaged recently is amazing. To put it into perspective, earlier this week the rumor that embattled Cyprus may be forced to sell its official gold reserves made news. The Cypriot government owns 13.9 metric tons of gold. But on a single trading day alone in February’s gold capitulation, GLD had to sell 20.8 tonnes! The supply recently added by GLD dwarfs everything else.
Gold has faced stiff headwinds lately as investors abandon alternative investments to chase record-high stock markets. Probably the most significant has been the major selling hammering the flagship GLD gold ETF. It has suffered such intense differential selling pressure that its custodians have been forced to dump enormous quantitie
Gold prices in India have significantly dropped, marked by the end of the fiscal year. As a result, growth of assets under management for gold exchange traded funds in India have dropped 18%.“ Relative economic tightness on account of slowdown has also led to a decline in net gold consumption,” said Chirag Mehta, of Quantum Asset Management Company, in a Reuters report. Gold is expected to fall further in India.
“People are now very skeptical to put their money in gold as prices are likely to come down by another 12%-18% in coming weeks due to signs of improvement in [the] U.S. economy,” said Hareesh V., a senior analyst with brokerage Geojit Comtrade Ltd. It appears over the next several months there will be more gold sellers, then buyers and this sell off trend could continue for the next year.
Not only is Cyprus going to sell off their gold reserves but Portugal and Spain will follow. With Cyprus taking the first step to unload gold, Germany will tell other European countries under duress (possible default) to sell their respective gold holdings. So we now have a domino effect with Cyprus first and then several other countries selling gold on the open market. Monday could really be "Black Monday" for Gold Bugs.
Sentiment: Strong Sell
CNBC has been posting all day that the Cyprus Minister notified ECU, IMF, Big Europe Banks that they will sell the majority of the countries gold holdings to pay off debt. Turn on your TV dude and realize the "gold" correction has officially started.
Wow, the number keeps jrising. Come Monday morning Cyprus could dump over a billion in gold on world markets already petrified of a massive gold correction. And just think what is going on behind closed doors of other countries. You got it - they also are dumping gold as fast as they can.