“Woe to the land whose king is a child and whose leaders are already drunk in the morning. Happy the land whose king is a nobleman, and whose leaders work hard before they feast and drink, and then only to strengthen themselves for the tasks ahead”. (Eccl 10: 16-17)


"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


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Tuesday, November 11, 2014

Yesterday's Outside Reversal in Meal, Negated by Today's Outside Reversal

Please see the comments and chart I posted yesterday asking the question whether the Meal has finally topped out. That price action was in response to a bearish USDA supply and demand report for the beans, especially the global supply numbers that they announced.

Today, that report was completely ignored. Instead, hedge fund computers began gorging themselves on the meal and the beans early in the session with the result  being an enormous reversal day on huge volume, this time to the upside.

In other words, today's OUTSIDE REVERSAL DAY exceeded the range of yesterday's reversal day, which had exceeded the range of Friday's.


Welcome to the idiocy of the modern futures markets, courtesy of both the hedge fund algorithms and the exchange officials who not only allow it, but love it.

I should note that the volume in the contracts that I was tracking actually exceeded the volume of the USDA report day. In all my years of trading, I cannot recall seeing anything remotely like this. Report days generate massive amounts of trading and produce huge surges in volume as the markets react to what is the new demand/supply numbers provided by the USDA.

This is the reason I have to constantly take the gold permabulls to task for their erroneous, breathtaking comments and articles detailing what they naively refer to as "Flash Crashes". I have no problem with anyone noting huge swings in price but those who propose the Flash Crash theory when it comes to GOLD, use it as evidence that the price of gold is being manipulated by the bullion banks, acting as agents of the Fed, to suppress the price of the metal.

As I have written in response to this nonsense more times than I can remember at this point, "Flash Crashes" or "REVERSE FLASH CRASHES" are now the NEW NORMAL in many of our futures markets, thanks to these pestilential computer algorithms and the fact that there is such an enormous amount of hot money that has been throw into the futures markets, markets which are simply too small to handle either the ingress or egress of such huge sums of money.

This is where I fault not any supposed "evil bullion banks" but rather those who are charged with enforcing strict limits on the number of futures positions that any one entity should be allowed to place in any one market.

Many years ago, when we had transparent, honest and "normal" open outcry pits in which business was being conducted, larger positions were okay because everyone on the floor could see who was doing what and figure out the why eventually. Scale up selling and scale down buying was also a regular feature of most professional traders.

Not any more - these enormous hedge funds ( way too large) swamp everything in sight whether they are coming into a market or exiting a market. They know nothing of finesse or skill - they simply rapid fire huge blocks of buys or sells into a market, regardless of its size in relation to the number of positions they either have on or wish to add, and obliterate anything that happens to be on the other side. That also includes COMMERCIALS, a growing number of which have had enough of the kind of carnage produced by these mindless machines and their owners and are moving more and more of their business to OTC markets, where they do not have to put up with this sort of thing.

Just keep in mind this chart whenever you hear some gold perma bull start yakking about Flash Crashes once again. You will realize that they have not the faintest idea of what they are even talking about and you can safely ignore them and whatever strange and exotic conclusions that they manage to draw from it.

Hedge funds computers have NOW BECOME THE MARKETS. That is the sad truth and based on the inaction and blasé attitude of exchange officials, it is never going to change. Maybe, in a few more years, after the computers have run all of the commercial interests and small specs out of the market, and all that is left is computers trading against other computers, some enterprising group of individuals will construct an exchange in which transparency and actual price discovery once again becomes the main focus of the exchange. Wouldn't that be something?

64 comments:

  1. Madam Duffy @ the CME Whorehouse; Nice job in ruining the mkts for the public, who is finally starting to get it, as the commercials did long ago; over / under on the whorehouse is probably 2 years, so make it while you can, thieves and then RIP; beans up 40 today? a bad joke. Crap tables are much, much cleaner than these cess pools.

    ReplyDelete
    Replies
    1. Thanks for Sharing informative news, Dears all traders its best place for every one get news and levels by this blog .... Get Daily Sure Shot Calls CLICK HERE
      Regards
      Free Buulion Tips

      Delete
  2. Dan and I discussed here a year or so ago the need for position limits and the exchanges unwillingness to have/enforce them. What you see today is the result.

    Exchange officials enriching themselves at the expense of the market and profit of the hedge funds.

    ReplyDelete
    Replies
    1. I don't see them doing away with those grandfathered in rights to a limitless short position anytime soon.

      What would the effect be on some markets if short-positions were indeed limited? Would the price of almost everything go up?

      Delete
    2. So Dan, Dark, and Mike, where do you draw the line and blow it all off? /very dirty ballgame for sure.

      Delete
    3. I read an article once that made a very compelling (and scary) argument that HFT & other computerized trading will one day (within next 10 years) create a scenario whereby it will be impossible for almost any market to trend up or down over an extended period of time. He argued that there will be day to day volatility, and week to week swings, but no extended long term trends that will move the price for nearly any asset class. He claimed that investors and swing traders will have no ability to make any money - only the intra-day traders will benefit. But, he also said that years after this happens – two decades out, folks will eventually catch on and just begin sucking their money out of the market and into things like real estate. As such, there will be a slow, volatile down trend that could last another decade until the markets are a fraction of the value they are today. Basically, the markets will become destroyed. He thinks the markets as we see them today have at most 30 years to survive unless something is done to change it.

      Delete
    4. Steve
      I don't have a good answer. For me, I hAve decided to stay out of the futures markets. I'll still do some commodity ETF stuff but no direct futures. I am not good enough and have other interests that preclude spending the time to get good.

      Delete
    5. Sound good Eric.Day trading is my main job but it stressful then I move to swing

      Delete
  3. Personally, I don't think shorting should be allowed. Just normal buying and selling. You shouldn't be able to sell something you don't own.

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    1. I agree with you on that. I just don't see them giving it up.

      Delete
    2. Gilliom;

      I don't have any problem with shorting ( remember I am a futures guy) because without it, who are the buyers going to buy from? What I do have a problem with is the huge position limits that keep getting raised higher allowing both bulls and bears ( hedge funds) to swamp and overrun markets.

      Delete
    3. @Gilliom,
      That's because you don't understand futures (no offense).

      Shorting is simply the mirror image of buying. When you "buy", you don't actually have the derivative in your possession, as a tangible thing. You are simply speculating (i.e. betting) that the price will go up. "selling" (or shorting) is just the opposite bet.

      I might also add that you can't play unless your directional bet is taken by someone doing the exact opposite--so the two effectively cancel out, and the market remains in balance.

      It's really a good system, albeit not for everyone. A man's got to know his limits...

      Delete
    4. I guess maybe they mean different things in different markets. In stocks, shorting and selling are two different types of transactions, but they are both forms if selling. The former is selling something you don't own( you borrow on margin from broker and sell it), the later is just selling something that you actually bought at some time earlier. Apparently futures are a little different. Selling = shorting I guess there. Someone is welcome to clarify.

      Delete
    5. @ TheGilliom -- you know in Europe they have tried banning short selling before in an attempt to prevent markets from falling. Guess what the result was? The markets crashed. Short selling actually can help a market go up - like when those positions are covered (i.e. Gold last Friday).

      Delete
    6. Oops...I didn't realize TheGilliom meant ALL shorting.
      Never mind :-\

      Delete
    7. Gillion, same for futures same for stocks. Sell after you bought and short is real sell lol.The diffrerence is leverage. If you like it, go to forex CFDs. Leverage could be 500:1.That why US bans CFDs stuff.Real speculative. Non- Americans never complain about manipulation because it is an order of the day.The rest of the world doing forex with London City is real risk with no exchange at all. No volume and all volume- related indicators useless

      Delete
  4. Thank Dan. It explains why Larry Williams my mentor not be able to be right but wrong frequently on gold, oil, copper and USD recently. I feedbacked him that he needed to change the way his analysis of COT but he refused. Next year he will retire. Then I move on. I still thinking to subscribe his indicators like Will cycle, Will seasonal, Will COT...but Im litte doubt. He did not know forex while I familiar with this market long enough so I back to the old way of trend trading. Futures almost for swing , inst it ? Swings in futures so big so it makes trend trading quite hard. Oppositely, forex tends to have trends longer. Tomorrow I will long NZD and AUD big and may take profit on Jan.Next week I will short SP. I stay away from gold for now. Gold and Oil due to rebound but who know

    ReplyDelete
  5. the announcement of the penalties on the currency fixing is due tomorrow, yet look at XLF and it didn't even care!
    ...looks like the ave payment is about $350billion US by each of the 6 banks and it's only the first payment!
    didn't affect the banks today, it's nothing to them just a cost of doing business.

    there is an extreme amount of money(fiat) available in the world, and hedge funds can borrow for just about zero to do all these trades, as can the banks, the brokers, the insurance companies, the pension funds, and how about the sovereign wealth funds!

    USDX has had a couple drops each session this week, and we're on that 29 yr down trendline test. GC seems to be going tick for tick opposite DX lately.

    cheers!

    ReplyDelete
  6. The computer driven algorithms are "out of hand" for sure. Would be in favor of position limits of some sort.

    Dan I guess I do not understand the blasé attitude of exchange officials... Wouldn't it be in everyone's best interests to enforce limits more strictly to insure the integrity of markets for all participants??? Especially those who heavily depend on the grain markets for their livelihood, the farmers...

    ReplyDelete
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    1. I think the exchanges don't care because they make money based on the transaction volume.

      Delete
  7. Yep, there are:

    "Flash Crashes" (stocks in May 2010, lasted one day)

    "Crashes" (NYSE in 2008, lasted 15 months)

    and

    "Epic Collapses" (HUI and XAU now going on 40 months)

    ReplyDelete
  8. Here's someone over at TFMR that just realized what the heck has been going on the entire time...
    http://www.tfmetalsreport.com/comment/447745#comment-447745

    I can only add that it's painfully obvious for that poster to realize they've been mislead, manipulated and deceived for the sake of monetary gain by a person who'll say whatever it takes gain attention and subscribers. No surprise there.

    What the people on the public side mostly haven't realized yet is that they've been thrown out the backdoor and thrown under the bus and demeaned in a public podcast.
    The people who had the most popular alternative threads on the site and those who posted most frequently are the one's they want gone.

    It was always about the money from the very beginning and if you weren't paying or contributing in the way that enhanced the sites value (to potential subscribers) you are viewed as an obstacle to new potential $ub$criber$.

    The guy's an unapologetic cyber panhandler who could care less what you think.
    And now you know why TD and others on here have been warning about the PM hucksters out there.
    You've been tolerated, used and then dismissed as heavy baggage by a guy with no real business sense or vision or tact yet he's been some weird fictitious 3rd person character everyine clung to like some PM guru who just happened to get it horribly wrong???

    Think about that and let it sink in. Ouch!
    How anyone can support that type of business model where people were misled and fed some real BS and then told to go away, please!

    ReplyDelete
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    1. DarkPurple; If you want to see a guy who really can cut these frauds up in ribbons, go look at Mike Stathis. He is over the top but in many cases very correct

      Delete
    2. I just find it all rather hilarious.

      Delete
    3. A tragic comedy for some who never saw it coming or thought it possible who were fed sensationalist B.S.
      L. Laverne followed the money trail angle and connected most of the Dots.

      I think when some folks start to realize and accept some things about what they ignored it'll start to blow their mind a bit at some point. The apologists will stay loyal to the end even if it includes a continued support of someone who has misled them or others quite a bit or was just flat out wrong and unapologetically so.


      Delete
    4. DPH

      I fell out with Craig Hemke about a year ago when he didnt like me publicly challenging Harvey's description of what Registered and Eligible Inventory means, and how you cant reconcile it to daily Settlement activity

      Since cancelling my subscription I only go back over to The Island of Misfit Toys to occasionally browse the comments section, and I have also noticed an increasing groundswell of discontent and disillusionment over there

      Craig lost control of his own website into the hands of a bunch of , intolerant nutjobs, and his recent attempt to take it back looks like its not going down well with some of the redneck bullies who "own" it

      Delete
    5. A Sea-change is occurring over at TF Metals

      take a look at this Comment http://www.tfmetalsreport.com/comment/447791#comment-447791

      Delete
    6. O'Balls, that's a pretty stellar post you linked there. Some saw the light a little sooner, some a little later, and the difference can be financially catastrophic. I'm just glad I was one of the "sooner" guys. Many haven't seen it yet, and likely won't until they are dead flat busted.

      Delete
    7. Eric - I spent a year there with one goal: get the people there to diversify. Get them to believe that *maybe* the world wasn't going to end and that they should be prepared for the *possibility* of metals going back down severely.

      My mistake, as it turns out, was being honest about that goal. It's condescending. It implies that I think I'm smarter than everyone there. That's a shame, because I didn't think that and my only point is that we're *all* not as smart as we think we are, and diversification is simply acknowledging that.

      It's a little disappointing that you, DPH and OB just up and left. I feel like you could have done some good (a hell of lot more than I could) attempting to break the spell. Your years on the site as valid contributors would have carried a lot of weight.

      Delete
    8. It would've amounted to no difference whatsoever. Our alternative viewpoints were seen as uncomfortable and unwelcome.
      Leaving there, individually or collectively, was the biggest possible statement or contribution any one of us could've made.

      In time it might be recognized as such among some but in the end (now) it really doesn't matter. It is what it was destined to become.

      Delete
    9. That would have no doubt been your impression from public comments, but the people who you are really getting to tend to keep silent or send PMs. I was surprised when I announced I was leaving how many responses I got from people I had never seen before saying that they appreciated my point of view, about half a dozen or so before Craig laid down a full ban an hour later.

      At this point, though, you are likely correct. I cannot imagine anyone remaining after the recent change except for those whom are fully dyed-in-the-wool committed to Craig and will be there until their utter financial ruin. Very sad.

      Delete
    10. I heard from plenty of people while I was there and even those that never came right out and said it you could tell what they were implying between the lines and I listened.

      My apologies NOLMC for being a testy prick at times over there. It might not mean much at this point because at that point back then I was merely interested in settling down whatever turbulence that was just starting to develop. You presented a wave and a persistent one at that...lol.

      It didn't take a genius on there to look beyond the first waves to see what was building and how they would impact the community as a whole at some point.

      In retrospect, many of the folks who visited there and called the site out based on what they saw or their experience in the metals or blogs etc. were mostly SPOT ON.

      But at this point none of it matters any longer. Live and learn and accept the humbling experience it provided.
      I'm just glad that TD has been as levelheaded and gracious as a host as he's been.

      This place is a breath of fresh air for sure. :-)

      Delete
    11. And my apologies for being a jerk on my first comment here a few months ago. I associated Dan Norcini with KWN (though I had never heard or read anything from him) and assumed he was just another one of "those guys". I did not take time to get the lay of the land before commenting. Dan is obviously level-headed and has been earnest and honest the entire time, following where the evidence leads. Likewise, I had thought that you had just been suckered into another charlatan's web, and I was obviously 100% incorrect.

      Delete
  9. It seems a lot of us are former friends of Turd's...even Dan himself. Turd turned out to be one of those dudes you look back on and say 'Damn, what a scumbag. I can't believe I used to hang out with him.' At any rate, I think you are being overly generous with Laverne. She doesn't seem to yet comprehend that those she deems as 'trolls' were the same folks who were truly engaged in the 'free exchange of ideas.' Unfortunately, their ideas could have saved that group a lot of money.

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    1. You pretty much nailed it.

      The folks who support the attitude or intent of that shill do so at the expense of the many even if only a few are left.

      Delete
    2. Yep. And of those who are left...well...Pailin is an interesting chap. He gives good insights. Pragmatic. Yet, he stays there. He reminds me a bit of you, DPH. You have always been a generous and diplomatic soul. Thanks for maintaining a web presence.

      Delete
    3. You're welcome, I appreciate that.
      All I ever really tried to do over there was to try and figure out what the heck is going on and why and where it might be headed no matter what it indicated. It didn't matter if it was the markets, politics or geopolitical stuff.

      The message over there was always the same and having one that differed greatly from the Turd company line was frowned upon to put it mildly.
      Other than the virtual blank white space he offers up for someone to type in what's the actual appeal at this point? I mean, c'mon, they monitor the private message system over there. Huge red flag.

      And yes, I like Pailin also.

      Delete
    4. The thing that astonishes me is that people seem to be OK with the notion that Craig Hemke needs to spew this crap as a full time job. Really? You need to read his terrible charts on a daily basis? He could easily keep his blog for free, for everyone, on a third party site, keep a day job, and post innocuous daily updates. Trader Dan appears to be doing exactly that.

      But DPH is correct - when his readership ballooned, he saw dollar signs. And his friend Jim Willie was no doubt telling him how much money you can make selling subscriptions once you've hooked people on your particular brand of BS. His case was particularly devious because he waited until there was a community of people who genuinely knew enjoyed each others company (yes, I know, not my company), then forced them to pay to keep talking to their friends. Couldn't even talk via PM after he shut that down on the public side. Nasty business.

      Delete
    5. I am not sure it us even necessary to personalize it into an attack on Craig Hemke as an individual - sure, he is deeply flawed (aren't we all!) but I'm not sure that is what lies at the heart if the problem with Turdville, which to my mind became a bit of a Frankenstein's Monster for him

      Hemke appears to have been a VP-level retail stockbroker rather tgan a Trader or a specialist in wholesale markets; when that career ended (for whatever reason) he tried to set up an online Pension advisory service, which by his own admission flopped badly, despite a number of high-profile media appearances - again, apparently focused on Stocks & Bonds rather than anything to do with Precioys Metals, However, this doomed foray into the internet and media presence appears to have awoken the PT Barnum gene in Craig, and hence the Turd Ferguson persona appears to have been born. His only other source of revenue - and I understand he has school-age kids - is from his wife's Frozen Yogurt shop (which must be, as best, "seasonal")

      I therefore have him down as a regular kind of guy, slightly outside his comfort zone, engaging personality, deep-rooted ambivalence in his preference for sound advice over closing the deal. There are many such people, and I have no doubt that in real life he is probably an affable and principled guy - just be sure to count your fingers after shaking hands

      Turdville, however, took on a life of its own, inadvertantly spurred on by a couple of perhaps accidental quirks such as the "hat-tips" and Leader Board features, which were wide open to abuse and pandered to narcissism and a cult of personality. I sense that Craig had neither anticipated this, nor - flattered by the attention and apparent celebrity status - found himself psychologically well-equipped to deal with it. For a while this was perhaps all one big ego trip, and Craig may have taken his eye off the ball

      contunued >>>

      Delete
    6. I am no psychologist and there is no point in trying to deconstryct individuals' motivations and perspectives, but Turdville appears to have acted as a magnet to a series of self-referential cliques including Fundamentalist Christians, Preppers, self-medicants (anyone rember the Manuka Honey and Colloidal Silver fads?), idle fantasists and my favourite group, the "artists" similar to WilliamBanzai on Zerohedge. Not only did these groups find a home amongst kindred spirits here, but they were largely left alone to abuse and bully anyone they didnt especially agree with: think "Lord of the Flies", with sub-plots obsessively revelling in e.g Banker suicides and obsessive vilification of named employees at JP Morgan. At times Turdville appeared to be less "informatikn exchange" than "Care in the Community", and one or two individuals appeared to be grappling with very significant mental health issues. Anyone trying to post a serious comment or well-founded analysis risked intemperate and entirely unmoderated bullying by the House Trolls, and many "newbie" recruits quickly left disillusioned by the bullshit and browbeaten by the habitual bullies

      Craig was riding the wave, but it was eating up his time and not paying the bills; having successfully exhorted them to "Roll up! Roll up!", priority shifted towards fleecing money out of the assembled masses. First it was donations, "sponsorship" and banner ads (notably Coghlan, who later refused to pay), later evolving into a paid-for subscription and merchandise, including the infamous Turd Ferguson Silver Rounds. At its peak I estimate Craig probably had 1,000 subscribers paying him $10 a month, which amounted to a viable cottage hobby, but not a viable income

      He then tried to "go corporate" by appointing what he referred to as a Board of Directors, but which appears in reality to have been composed primarily of the "Too Big To Manage" personalities who by now controlled Turdville, and there clearly was neither consistency of approach, nor an abundance of managerial acumen on hand.

      The result us, as can now be seen from the most recent Comments, a bit of a mess or - more accurately - A Lost Cause. I do not see Turdville surviving past the end of the year in its current format

      And Craig? Read this allegory, and spare the guy your wrath: http://en.wikipedia.org/wiki/The_Scorpion_and_the_Frog Its not hus fault - thats just the way he is, and this ends just as badly for him as it does for his fellow travellers. It could have been so different if only Gold and Silver had rallied strongly......

      Delete
    7. There was one driving force/person behind the scenes that steered him into the direction the site has gone....which is downhill.
      I'm sure she'll pipe in at some point over there to gaslight everyone into how they should view this and how they're to blame for the changes. That's her standard MO. Blame others for not gobbling up her opinions and then play the victim card.

      The same person who found it necessary to first peek/spy into everyone's private messages is the same person guiding the Turd brand over there behind the control panel.
      He never woke up to that fact until it was too late.
      That whole board of directors thing was brought up me well over 2 years ago and never materialized. I don't think it would've mattered anyway to be honest.

      There was no way to overcome the dominant personality behind the curtain who had a snakeoil saleperson quality and history all of their own who I believe showed him the ropes.
      That's where he learned it from and that's who guided him there imho.

      Talk about magical beliefs and smug attitudes? No wonder the site has a surreal quality to it's content or operation that made no sense at times.

      http://cult-of-the-hugging-saint-exposed.blogspot.com/2009/07/stephanie-brail-critic-of-ammachi.html?m=1

      Delete
    8. This comment has been removed by the author.

      Delete
    9. The most interesting guy over there right now is "zman". It's the typical story. Once a guy who was totally in the tank for the metals story. Been there since Day One. Now reality has him openly and aggressively questioning everything. And for his efforts he's been branded a troll by everyone on the site, from Turd on down. If you question, just GTFO.

      Shaking off the Metals Brain Cloud was like winning the lottery for me. Huge financial swing to the good. Don't fight the tape.

      Delete
    10. I am sincere when I say that I don't envy Craig Hemke right now. Where does he go next? He's hardly Max Ker quality in terms of sheer slapstick comedy, he doesnt have the aura of naive integrity which Koos Jansen once wore, and he doesn't have the CV to become a "mainstream" or resident celebrity Guru. The guy must be fairly concerned at this point, and I feel for him as a human being. Politics maybe?

      Delete
    11. I agree with you.
      To the extent that an objective logical outlook was seen as a threat on there is indicative how abnormally biased it became.
      It became more about protecting the brand then trying to figure out objectively what the heck was going on in the markets, our society or our collective govts etc.
      To the extent the original script from Dear Leader was clung to like a security blanket the entire time despite ample time and reasoning to discard it was a bit frustrating to some of us.
      An open mind costs nothing but a closed mind can cost you plenty.
      He'll realize this the hard way it appears.

      The situation over there at this point reminds me a little of an old Star Trek episode (yes, I realize it's an odd analogy) where a fictitious persona has a grip on everyone until the machine breaks and everyone for the first time realizes all the guidance they were fed was a useless farce and waste of time.

      Anyone thinking of the Landru episode would be correct.
      A shout out to Jake Blues ;-)

      http://www.startrek.com/database_article/landru

      Delete
    12. OB, I concur, politics at the local level.
      But then again I've heard he's writing a book so the fictitious 3rd person charade might go on for awhile to those who find oddball sensationalist stuff entertaining...like Jim Kramer on TV.

      There's no shortage of investment silliness or schticks out there in bookstores or online. His "manager" will help him milk every paper dollar there is until there isn't.

      Delete
    13. DPH - I'm surprised you think stephanie is so influential over there. She started posting articles a while back, and they generated exactly the sort of comments that made Craig have to shut the whole thing down. She seemed literally to be just a space filler, and nothing more.

      I sense he's getting pretty cash strapped nowadays (can't afford to turn comments back on even for subscribers on the public posts!). Is stephanie a developer, and giving him tech help on the cheap? I don't understand why he would be beholden to someone like her otherwise.

      Delete
    14. I won't get into that other layer that's not apparent from the outside plus it would just be my opinion based on observation (from within when I was a moderator) even if I thought others agreed with that assessment.

      No sense in beating a dead horse at this point and I'm moving on from it. Everything has gone full circle.

      Delete
    15. some of us know the full story, or at least the big picture missing a few puzzle pieces. much has been scrubbed from the internet, stuff predating TFMR, and now it looks like TFMR's history itself is going to be sanitized. but i agree in general with DPH because i know what i know. the entire experience really is just plain sad. the appeal of the site was the brain trust, the great commenters in the first year or so. due to Stephanie's political/spiritual agenda, and both her and Turd's greed, the best of the site was wasted. it is sad to see a few decent people still there, like Laverne and Pailin. as for the rest of the "island of misfit toys" i wouldn't piss on them if they were on fire. they have and continue to wantonly spread despair, hate, and certainly not least, financial ruin.

      Delete
    16. peckerwood

      don't pull your punches - tell it how you see it........ :-}

      Delete
    17. Yikes, DPH, I just read the 'hugging saint' article about Stephanie. I just thought you had some weird axe to grind with here, but after reading that....it explains so much. She is a straight up New Age Healer con artist. With people like her and Jim Willie in his ear, is it any wonder Craig has gone to a 'squeeze every last dollar out of the credulous' approach?

      Delete
    18. lol. but yes, that certainly is my nature. life is too short to pacify jerks, eat crap, or to suffer fools. other than that, if you treat me decently and with respect you may never meet a kinder soul. you can ask my neighbors about that. and should the "SHTF"my survival strategy is to foster cooperation in my community, not stockpile stuff and hide in a bunker. but i ramble.

      Delete
    19. NOLMC...I'm sure it looked like an axe grinding, how could it not?
      It came to my attention that I was being repainted by someone would always have the last word there and never doubted due to their perceived position on there.
      My last post there said it all.

      All I did recently was to provide a public link and glimpse of what the background of the sites mindset was or still is. Everyone can draw their own conclusions or simply hate the messenger.
      So be it.

      Delete
  10. Sounds like the ISIS nutjobs figure on having there own currency in the form of coins and you guessed it.....not made out of camel dung. The article on JS's site.
    Lots of crap hitting the fan in Ukraine again.

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    1. In Sinclairs, ZH's or Turds world that's seen as a bullish indicator.

      Seems like Putin might just give the green light in Ukraine while this weekly conference is underway.
      He loves the stage, just like Obama.
      An invasion of E. Ukraine would make for an awkward moment this week.

      Delete
  11. Kjm

    I went to Jim's site to check the article. When I clicked "more" to read It in full, it sent me to this link...

    "Jennifer Lawrence suffers a wardrobe malfunction as her plunging white dress opens in back of cab following Hunger Games premiere after party"

    Is Jim at it again ?

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    1. I got that too Loren...no I don't think that's Jim's thing..some kind of screwup.

      Delete
    2. Screwup? Sounds like Jims job. Fearmongering the ISIS dinar too.

      Delete
    3. Sounds like Sinclair had too many windows open at once, and screwed up the link.

      Delete
  12. Traders worked together to “whack” the market, called themselves a “cartell” and congratulated each other for a job well done, according to transcripts released by regulators today..

    it's $3.3 bil divided by 6 banks only 1st pmt,
    http://www.bloomberg.com/news/2014-11-12/-lets-double-team-it-fx-traders-say-in-cartell-chats.html

    Dismal beef packer margins pressure cattle complex, sideways beef cutouts offer little optimism, potential hog bottom looks bit more firm,

    First taste of winter supports Ag complex.
    All-time Nov. record low tied in Casper, WY (-21).

    cheerio!


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  13. Ags Bottom Line: The trends are up on all applicable scales and until futures and spreads break cash, it looks like the path of least resistance will continue to be up. Winter weather and its effect on wheat will need to be monitored this week, even if damages won’t be clearly assessed for months. Corn has very little driving force right now, and is simply along for the ride.

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  14. 77; When are you going to set up your own site and quit clogging up Dan's site?

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  15. this is 'weird wollie weds' the weds of the week before stock mkt op-ex week. named for mkt timer wollenchuk (sp) who coined it.... this year months have gone mostly up 1st week, then down 2nd, then up for op-ex week for SPX.

    'weird wollie' is about the rolling of options out of front month by the biggest of big players, which causes volatility. another famous timer has 'misdirection thursday' moniker for tomorrow on the same theme.

    GLD-SLV liking their option strikes again today 112-15 .. end of the year. T
    he world's largest gold ETF (GLD) saw its gold holdings fall by 0.12% on Tuesday to another new low of move.

    corn has the .382 fib at 393 and jan beans the 50% at 1098, 200 dsma at 1121..

    fibs start 0 1 1 so that's how 50% became a fib ratio!

    cheers!

    ReplyDelete

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