"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat

Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput


Tuesday, October 21, 2014

ECB Planning a Corporate QE?

The wire services are reporting this morning that the European Central Bank is considering a plan to purchase corporate debt as part of a response to the Eurozone's sluggish growth. That has pushed the Euro sharply lower and the Dollar higher by consequence but commodity buying is being seen regardless.

Copper, silver and gold are all higher and even crude oil has firmed. Equities of course love that news. Even the grains are moving higher.

More volatility, more uncertainty and more factors for traders/investors to now digest.

Hold onto your hats.... don't you love our monetary masters? They have such a "calming influence" on the markets.


  1. Dan, the real world Main Street economy means nothing to these pirates, whores and so forth. Just pump up the broken mkts and we will see what happens. Don't you just love it? What is a fundamental, and how many years now has it been since he and reality died?

  2. Yep, this is what I was alluding to yesterday.
    Draghi and friends can't sit on their hands forever.

    It's coming...only a matter of time.
    I think they're waiting until QE taper is completed...then it's the ECB's turn to provide some liquidity and hot money flows back into the markets.
    The ECB better hope that money stays in the EU markets and doesn't end up mostly in the US markets.

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  4. "“On this day in 1879, according to popular and corporate folklore, a major event in world history occurred.....

    ..... But a careful look at Edison’s detailed notes indicates that nothing happened on this day. It was in fact on the 22nd"

    King World News - "Non-Ents reporting on Non-Events since time immemorial"


  5. 6 Days... 6 Limit moves!!! Chalk that up to another amazing story about #Cattle during the year 2014!

    even with VIX off almost 50% from recent high, moo moo is only for Dan da man!

    NDX heading to 20-day MA and 20-week MA, SPX on 20-day MA touch. will have to see how volume turns out in the stock markets including weekly- if it's fairly lower the a-b-c down guys will be trumpeting the next swing down.

  6. Bankers are a pox everywhere, they only make things worse. Euro banking is a carbon copy of the Feds actions except there is no common bond that can be issued, oops. So a propping up of individual member countries and big companies to try and stem the tide of outflows from a failed misadventure in socialism by an unelected body becomes exposed. In many ways, it sure sounds like the Feds...We will try to smooth out the economical cycles with cash infusions until recovery is at hand or until we go broke (default), whichever comes first. Guess which one comes first.

  7. Funds have been net buyers of 7,000 soybeans, 6,000 corn, 3,200 wheat and 4,000 soymeal and are even in soyoil.

    Meal, Corn, CBT & KC wheat are back above 50-day moving averages prompting some tech & spec buying.

    Ags yest held support i.e. 20day MA's, and the thing is that for the last 3 weeks the funds haven't done well on the short side, so if they don't short it isn't going down.

    soymeal said to be scarce around IL, and ground there supposed to be too wet still and some scattered showers, so that's close to the pit in Chicago.


    1. you and your Aunt Matilda in your Mom's basement are a real bore,77. Where are you anyway, Belgium, or are you just a Indian or Pakistani bot??

  8. I can not believe this, Larry Williams again recommends me to buy gold futures next Monday. I better stay away from this market. Too much crazy. I rather short EUR


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