ologhai Posted October 10, 2008 Report Share Posted October 10, 2008 And Bush says 'nothing'. And, it seems, the markets respond to the fact he said nothing... It's pretty funny. I'm listening to BBC News 24 in the background, and they're saying: "The DOW fell off a cliff to begin with, but it's rebounded and is looking a bit stronger now -- maybe in response to Bush's speech." From where I'm sitting, the DOW was recovering nicely (and even went positive briefly) UNTIL Bush's speech! Link to comment Share on other sites More sharing options...
warpig Posted October 10, 2008 Report Share Posted October 10, 2008 What the hell is going on? Link to comment Share on other sites More sharing options...
kernull Posted October 10, 2008 Report Share Posted October 10, 2008 That is US inventories, you would need to compare this to every other consuming country's inventories. The US are consuming less, there can be little doubt, but is this drop in consumption being offset by emerging countries increase? exactly , US consumes around 25% (???) of the global consumption, so, as prices go lower, consumption increases in the other sides of the globe, specially undeveloped ones, increasing demand. Also oil extractors will be cutting production if it is not profitable for them, so i believe this inventory report dates are rather used by traders as trend begin/end points for pricing more stronger fundamental moves like 'deflation', 'peak oil' , 'falling dollar' and etc... Link to comment Share on other sites More sharing options...
Errol Posted October 10, 2008 Report Share Posted October 10, 2008 What the hell is going on? In relation to what? Link to comment Share on other sites More sharing options...
alexreeve Posted October 10, 2008 Report Share Posted October 10, 2008 USDX doing a moonshot now. Link to comment Share on other sites More sharing options...
warpig Posted October 10, 2008 Report Share Posted October 10, 2008 The POG, the Dow, the FTSE etc... Nothing's making sense today. There was such negative sentiment this morning with various indexes, I was just wondering if any announcements had been made. In relation to what? Link to comment Share on other sites More sharing options...
warpig Posted October 10, 2008 Report Share Posted October 10, 2008 Look at this, it almost gave me a heart attack. Monkeys... They've changed it now. Link to comment Share on other sites More sharing options...
Dic Penderyn Posted October 10, 2008 Report Share Posted October 10, 2008 Europacific Capital are expecting a fall in the price of Gold in the short term, at least in terms of $ Congress Charges Commission .... "Conservative investors should maintain a core holding of hard currency treasury bonds and gold. In addition, they should accumulate further gold holdings on major recession-induced price dips and await, with some sense of comfort, the ultimate collapse of paper currencies." .... http://www.europac.net/ DP Link to comment Share on other sites More sharing options...
Bobsta Posted October 10, 2008 Report Share Posted October 10, 2008 Is Gold still playing that "Anti-Dow" trick? ... It shot up just as the Dow shot down. Part of me wants to "do an Azazel" ... I smell a smackdown (either market or PPT-induced) around the corner. But then again, it could be an "it's different this time" moment. Where's Ker when you need him?! Oh MAN why don't I go with my instincts?!!?!?!? I sold a lot of Gold and Silver at very good prices last night. That spike had "unsustainable" written all over it and we'd had a good week. Then this morning I gave in to the uber-bull mentality and went and bloomin bought it all back (and more) ... What a complete and utter tool!! I feel like I've been skinned alive. Link to comment Share on other sites More sharing options...
electroweak Posted October 10, 2008 Report Share Posted October 10, 2008 gold in FREEFALL.... wow feel the power of the PPT. EDIT:I refuse to believe that -USD60 / Oz on a day like today was profit taking or natural selling. I can't see it. Link to comment Share on other sites More sharing options...
G0ldfinger Posted October 10, 2008 Author Report Share Posted October 10, 2008 gold in FREEFALL.... wow feel the power of the PPT. Nice plunge. These utter idiots, I am now able to buy even more!! Link to comment Share on other sites More sharing options...
electroweak Posted October 10, 2008 Report Share Posted October 10, 2008 Nice plunge. These utter idiots, I am now able to buy even more!! I think they simply had to knock the crap out of it before the weekend flight out of the stock / bond market. I mean who on earth would want to be long stocks or bonds this weekend? They expect an equities sell off this afternoon, i think.. Link to comment Share on other sites More sharing options...
bitbigt Posted October 10, 2008 Report Share Posted October 10, 2008 A prediction for October... - ...by months end DOW and FTSE will be no higher than today, and perhaps as low as (or will have touched) 950 and 400 respectively. Wow - in my fearful post, it seems I was actually being optmistic Link to comment Share on other sites More sharing options...
Errol Posted October 10, 2008 Report Share Posted October 10, 2008 You have to expect these drops. This is their tactic. They wait 'till everyone is in then pull the rug. This shakes out the weak holders. Link to comment Share on other sites More sharing options...
tl8177 Posted October 10, 2008 Report Share Posted October 10, 2008 You have to expect these drops. This is their tactic. They wait 'till everyone is in then pull the rug. This shakes out the weak holders. HaHa. and silver at $10.50. It just got crushed I mean what price is that? It's more like a circus everyday. Link to comment Share on other sites More sharing options...
Compounded Posted October 10, 2008 Report Share Posted October 10, 2008 This drop and the one yesterday just do not seem the same as normal drops, is it genuine market volatility as opposed to supression? Link to comment Share on other sites More sharing options...
bakachu Posted October 10, 2008 Report Share Posted October 10, 2008 Could it also be plausable that some countrys/banks are offloading a massive chunk to help raise funds? Is there any way to see if a massive volume has just been offloaded by an individual source? Link to comment Share on other sites More sharing options...
Errol Posted October 10, 2008 Report Share Posted October 10, 2008 Could it also be plausable that some countrys/banks are offloading a massive chunk to help raise funds? Is there any way to see if a massive volume has just been offloaded by an individual source? Perhaps the IMF is selling some? Link to comment Share on other sites More sharing options...
bakachu Posted October 10, 2008 Report Share Posted October 10, 2008 Perhaps the IMF is selling some? Im not sure how to read your reply.. if its meant in a slightly sarcastic way then I fail to see how this could be classed as 'unfair' manipulation, which is sometimes the feeling I get when reading alot of posts about the POG dropping (Not that you have suggested this at all). If they have it and they want to sell it isn't that fair game? I like a fair challenge, as long as no dirty tricks like naked shorting or whatever are being employed, and price drops are accompanied by a real surge in physical volume, then its all part of the fun Link to comment Share on other sites More sharing options...
electroweak Posted October 10, 2008 Report Share Posted October 10, 2008 OMG, look at this... dislocations becoming extreme. EDITed image for clarity.. Link to comment Share on other sites More sharing options...
kernull Posted October 10, 2008 Report Share Posted October 10, 2008 ops, below 850, if we break 820 it will be very bearish. Link to comment Share on other sites More sharing options...
narco Posted October 10, 2008 Report Share Posted October 10, 2008 LOL @ Silver. What a dog. Any lower than here and it's not even in a bull market anymore. Link to comment Share on other sites More sharing options...
wren Posted October 10, 2008 Report Share Posted October 10, 2008 OMG, look at this... dislocations becoming extreme. EDITed image for clarity.. Maybe a time delay in real-time chart. Weird that it's so much lower. The USD spread in Zurich is weird - just 8 dollars per kilo Strange variation between vaults and currencies. The euro spreads look fairly normal in all 3 vaults. Today looks like a classic midday smackdown. Link to comment Share on other sites More sharing options...
rich6400 Posted October 10, 2008 Report Share Posted October 10, 2008 Didn't somebody mention that the Swiss central bank was going to sell gold (and lots of it) to enable them to support UBS / Credit Suisse ? Pure speculation, however, it will be interesting if the Swiss announce something towards those two banks. Link to comment Share on other sites More sharing options...
ologhai Posted October 10, 2008 Report Share Posted October 10, 2008 It becomes patently clear to me that I don't understand any of this. I thought I was starting to see patterns emerging, but none of it makes any sense. And as for silver... It has the reputation of being volatile, but this isn't volatility... It'd have to go up sometimes for it to be volatility. The various NS&I savings vehicles are looking more appealing all the time... Link to comment Share on other sites More sharing options...
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