tag:blogger.com,1999:blog-1708908742323002823.post1568603422657092960..comments2024-02-10T02:18:27.240-08:00Comments on Trader Dan's Market Views: Gold still stuck in a rangeTrader Danhttp://www.blogger.com/profile/05484363461047659198noreply@blogger.comBlogger16125tag:blogger.com,1999:blog-1708908742323002823.post-19067284308215501202011-10-06T22:40:17.877-07:002011-10-06T22:40:17.877-07:00Nice rant. I thoroughly agree.Nice rant. I thoroughly agree.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-26771007799874148952011-10-06T14:50:05.266-07:002011-10-06T14:50:05.266-07:00My take on the ("new invisible hand"):
...My take on the ("new invisible hand"): <br /><br />"The plan" is to devalue the dollar, this is evident, and it's half of a convoluted scheme steeped in the belief that a steadily weakening dollar is needed in order to create wealth. This malarkey has gone on almost a decade, since gold was $450 +/-. <br /><br />The other half of the scheme is the use maximum leverage. Since there is no money in our land of milk and honey, those with money can buy an asset for little or no money down, and at super low interest.<br /><br />Then, it’s the waiting game until congress over-respond to the weakening dollar, and homelessness, unemployment, foreclosures and all the other bad stuff, and the stellar elected representatives and the FED will stoke the fires of inflation by printing money, lot's of it, and this in turn increases asset values. <br /><br />Ergo: the creation of wealth. It’s ridiculous, it's not American, but it works; its capitalism gone awry.<br /><br />It’s time to buy gold and silver.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-55943347803630932092011-10-06T14:48:31.974-07:002011-10-06T14:48:31.974-07:00This comment has been removed by the author.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-10635591529276738382011-10-06T14:42:17.562-07:002011-10-06T14:42:17.562-07:00you just delivered a piece for history books yet t...you just delivered a piece for history books yet to be written!<br /><br />these markets are like having the lunatics asylum being turned inside-out: sane, rational people are now being treated by inmates.<br /><br />And you elegantly pointed out what really is cause and whats effect with regards to "stable markets and stuff".<br />I will post this on Facebook as a note on my profile, because that is exactly what I am constantly trying to get into peoples heads when I tell them about "speculators" and scapegoats alike.... its usually quite hard a job, so thanks for making it more easily explainable - because even to completely brainwashed morons, this should appear as some very simple truth...!!!Simonhttps://www.blogger.com/profile/14909493586691808758noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-6355130466776149842011-10-06T14:09:43.423-07:002011-10-06T14:09:43.423-07:00Dan, Such a sad state of affairs. I was taught th...Dan, Such a sad state of affairs. I was taught the "invisible hand". Now, I know what we have is the most corrupt nation of governance since 1776, roman empire, facism, etc. I wish for yesteryears. Really, it started years ago. You cannot let politicians off the hook with CRAZY monetary policies, importing cheap labor to decrease wage inflation (hell who cares what the meaning of ILLEGAL), utilize SEC to cover up Barclays PLC's algo BS. It is all BS. I believe we do not change until we hit a major wall. The T Bond market. This forces IMPLOSION. Steve could not do apple today unless he sat in a DC office and offered up bribes. We have a corrupt DOJ head, a corrupt SEC head, a corrupt President, an aligned Treasury and Central Banking system, and finally a controlled media. We are going to pay a price and their is no question in my mind we live in unprecedented times for the US (Not historically). Another degrading system. Long Gold, mining stocks, long on the devaluation of dollar and all currencies except those of small strong currencies with free markets. Others will cave into our constant devaluation theories until...BOOM.White Wolfhttps://www.blogger.com/profile/13965194184809848345noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-46610781239970445752011-10-06T12:42:56.615-07:002011-10-06T12:42:56.615-07:00As Chris Powell put it so well: "There are no...As Chris Powell put it so well: "There are no markets anymore, just interventions..."<br /><br />Dan, thank you for your insights :^)Craighttps://www.blogger.com/profile/10430843772037400751noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-9618039466290498262011-10-06T06:31:56.247-07:002011-10-06T06:31:56.247-07:00I, too, rely on the charts...and the messages telg...I, too, rely on the charts...and the messages telgraphed through them. I am particularly fond of Trader Dan's interpretation of daily numbers. Kudos to you Dan!<br /><br />But, I buy and sell on the fundamentals. <br /><br />It's buying season.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-53325498211168283322011-10-06T01:25:42.960-07:002011-10-06T01:25:42.960-07:00"All in all, whst we are dealing with is not ..."All in all, whst we are dealing with is not a rational, US style investor base, and they do not give a heck to what the market says, apparently, till the very last moment."<br /><br />As opposed to rational US investors, who would never do a stupid thing like investing in companies who lend money to poor people to buy homes they couldn't ordinarily afford. Oh, wait...Jimhttps://www.blogger.com/profile/06311327977642027710noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-9544928818128223602011-10-05T22:47:54.916-07:002011-10-05T22:47:54.916-07:00A wee dram of the bottle, there Dan? Just kidding...A wee dram of the bottle, there Dan? Just kidding, but not entirely. Nice rant, however I think you are spot on. Yesterday's late session in the equities looked just a tad suspicious. Today's continuation? I don't know. All I know is that I have some close stops on recent mining positions.<br /><br />PS: First comment from me, but I just want to tell you that I very, very much appreciate your market comments. Thanks tremendously.Hanshttps://www.blogger.com/profile/05399761797446588907noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-73406292588417598112011-10-05T20:09:59.136-07:002011-10-05T20:09:59.136-07:00The ECB is not going to print Euros to bail everyt...The ECB is not going to print Euros to bail everything out. They are not that stupid.<br /><br />That is still gold positive. Gold bugs focus too much on the quantity theroy of money.<br /><br />http://freegoldobserver.blogspot.com/Mhttps://www.blogger.com/profile/14298632737279907377noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-50177470421479497492011-10-05T19:55:57.031-07:002011-10-05T19:55:57.031-07:00I agree we no longer have capitalism in the USA. I...I agree we no longer have capitalism in the USA. It is my hope that the current system is on it last legs, because I believe it is unsustainable. I do not think the central banks can go on printing money forever. I just hope I make the right investment decisions to come out of this debacle with my capital intact. <br /><br />Thanks for a great, truthful post.Rahul Parikhhttps://www.blogger.com/profile/05434244718537987365noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-9870177860848707232011-10-05T19:25:06.906-07:002011-10-05T19:25:06.906-07:00Bravo Dan!! Rant on my man! Everything you say is ...Bravo Dan!! Rant on my man! Everything you say is true, and frustrates me beyond belief.<br />The inmates are running the asylum.ckpchttps://www.blogger.com/profile/05457089936473934132noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-78859550779961739492011-10-05T18:22:28.554-07:002011-10-05T18:22:28.554-07:00Maybe I am a long term gold mining stock guy and f...Maybe I am a long term gold mining stock guy and feel a little inkling that this thing may turn up on fundamentals. More Money is going to be poured in Euroland to patch up the LARGE BUILDING PROBLEM THERE WITH A FINAL decision for Greece. Spain and Italy's bonds look settling a bit. The news probably points to what a Government man would say is ORDERLY Defalut for the Greeks then Fire wall the Italian and Spainiards. Euro up, dolla down. <br /><br />On the other hand, a recent post from Zero hedge shows us just 400 billion left for budget in US. Hell what is the number on Obama's jobs bill 450 Billion. MMMM better start negotiating and increase in the debt ceiling or christmas becomes a battle of wills. Thanks Dan. Appears on fundamentals, with some strong technical steadiness, we might just see all signals point to more money hitting the streets on both sides of the pond. Would this not start an explosion upwards?White Wolfhttps://www.blogger.com/profile/13965194184809848345noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-66740823739180439712011-10-05T18:13:32.535-07:002011-10-05T18:13:32.535-07:00Dan -- thanks bunch for very insightful comments y...Dan -- thanks bunch for very insightful comments you have here. I am a trader myself as well and now attending a conference here in UK to understand European fund managers and public in general. And, let me tell you this much, I am not impressed a bit, at all.<br /><br />In US, we are a capitalist society and politicians for better or worse listen to the what the markets has to say. After speaking with fellow traders and investors here, I am convinced that in Europe things does not work that way at all. First, it is a socialist continent at heart. Second, apparently, inlike US, the smart students become politicians and they do have higher weight than does the traders / investors community, whether through their salaries, pay packages, or the respect they get. Further, i am literally told by some very smart guys here that, politicians literally does not give a rat's a$$ to markets and indeed they want to see the market go much much lower so that they can push their agenda more easily. One being, uniting the all Europea and its tax collection scheme such that in the last minute after that expected and hoped for market crash, politicians will dully step in, and say to PIIGS that see you need our help and to do that, e need to consolidate tax collection at which stage Germans and French take over those agencies across the continent to push for it.<br /><br />Well, take it as whatever the rumor is in Europe, but this is what I get from the folks here. Further, they say that, right wing people and politicians are garnering a lot of traction that social fabric of the whole continent is heading for dangerous territory. <br /><br />That said, I really gave up on Europeans and do not try to make sense of what they do other than keeping my shorts on the banks and high yield credits in EU zone while buying with both hands every time gold tests 159x level.<br /><br />All in all, whst we are dealing with is not a rational, US style investor base, and they do not give a heck to what the market says, apparently, till the very last moment. <br /><br />I guess, it will continue like this for awhile and we might not see major push up in gold but for those investors with medium and long term horizon in their mind, it might be great opportunity to accumulate.Shoe Shine Boyhttps://www.blogger.com/profile/18338896828147411264noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-64313771431955945302011-10-05T17:27:36.936-07:002011-10-05T17:27:36.936-07:00Hey, Dan -
I appreciate your chart insights, espec...Hey, Dan -<br />I appreciate your chart insights, especially the ones regarding the COT.<br />You are maybe not so less-than-serious with your account of what earns a trader fame and fortune. After all, it's the trader's choice as to what to focus on, but my guess is that, out of all the possibilities, the only one that really counts is the one that goes against the crowd.Lesliehttps://www.blogger.com/profile/06922037921120529143noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-9852278165631103362011-10-05T16:49:36.174-07:002011-10-05T16:49:36.174-07:00Couldn't agree more... Well said.Couldn't agree more... Well said.Anti Revolutionaryhttps://www.blogger.com/profile/05473980984956642181noreply@blogger.com