tag:blogger.com,1999:blog-1708908742323002823.post7899247780609317193..comments2024-02-10T02:18:27.240-08:00Comments on Trader Dan's Market Views: FOMC DayTrader Danhttp://www.blogger.com/profile/05484363461047659198noreply@blogger.comBlogger28125tag:blogger.com,1999:blog-1708908742323002823.post-70630634883998994492014-05-01T13:23:50.144-07:002014-05-01T13:23:50.144-07:00"Alice" nailed it! And EO just applied ..."Alice" nailed it! And EO just applied the frosting and sprinkles to the cupcake.<br /><br />If it wasn't so painfully obvious it would be laughable at this point.<br />However, too many people have been adversely affected by the shills out there who are so convincing/obsessed about their "cause" that some folks allowed themselves to get wrapped up in the vitriol and hyperbole. It cost them real money to discover that.<br /><br />Live and learn. DarkPurpleHazehttps://www.blogger.com/profile/06725074790604681185noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-85540009717680536892014-05-01T08:53:49.876-07:002014-05-01T08:53:49.876-07:00Oh, that's right! Today is an anniversary of ...Oh, that's right! Today is an anniversary of sorts. I totally forgot about that.<br /><br />5/1/2011. Check the charts.Eric Originalhttps://www.blogger.com/profile/09663512536878956249noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-85996846605808828802014-05-01T08:28:59.596-07:002014-05-01T08:28:59.596-07:00Eric Original; Dan is right on the silver and the ...Eric Original; Dan is right on the silver and the silly 15-1 argument, which they claim has some sort of relevance going back 6-700 years or whatever. Anybody should know that Colorado and Nevada discoveries changed the dynamics years ago. We saw close to that ratio I think for about 15 minutes in '80, just like when the Dow and Gold went even money for their 15 minutes or so. Just go to some of the "stackers" sites and read their 18 year old locker room thoughts and lame vocabulary and you will know what I mean. Oh and btw, we are now close to be beginning the 4th year of the silver BEAR market; sparksAnonymoushttps://www.blogger.com/profile/15820220635483947518noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-29332622112547274262014-05-01T08:20:33.401-07:002014-05-01T08:20:33.401-07:00Well said, Alice :)
The prospect of getting rich ...Well said, Alice :)<br /><br />The prospect of getting rich while the world burns is an alluring one. But then, as the trade goes steadily bad, they go from there to engaging in all sorts of crazy confirmation bias to things like "the world SHOULD burn", "the world DESERVES to burn", "the world MUST burn before we have a reset", and all sorts of variations on that theme. They dig themselves in deeper and deeper, getting poorer and poorer, to the point that the only thing that will save them is a moonshot in silver.<br /><br />They've already burned their own world, and now wish it upon everyone else, out of anger and a need for redemption. <br /><br />"THEN they'll be sorry, bwah, ha, ha!"<br /><br />Eric Originalhttps://www.blogger.com/profile/09663512536878956249noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-3284570893813312012014-05-01T07:49:49.798-07:002014-05-01T07:49:49.798-07:00Eric The Red:
What is wrong is that that crowd a ...Eric The Red:<br /><br />What is wrong is that that crowd a while back all the way up until now wanted to believe that they stumbled upon an elite community of people and gurus (hucksters) who had the answer to a deteriorating situation (economy), and that if they participated would come out looking like winners and being alpha males once "the collapse" transpired. They still hang on to that hope. Now that they see that things have not transpired in the way that their messiahs have pumped, they perceive anybody doing technical analysis about metals being in a bear market as a threat, no matter how neutral the analyst is being..'cause misery loves company - they can't stand the thought of anything in the blogosphere deterring potential newbie stackers from joining the cause, which in their heads would further increase the chances of the price action continuing its broad descent. They're so emotionally attached to the asset class and the doomsday ideologies/stories/predictions that they've been sold that anyone who has a different take on it (namely, metals being in a downtrend) is automatically a silver-hater, even though it's quite illogical to 'hate' something that's a utility. They confuse you calling out irrational perma-bull mentality for bashing a utility, if that makes any sense. It's pathetic, but I understand it fascinates some people interested in psychology and cults.Alicehttps://www.blogger.com/profile/06475799883794713062noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-84888794934323292562014-05-01T07:13:56.743-07:002014-05-01T07:13:56.743-07:00Even if you plan on a doomsday scenario, anyone wh...Even if you plan on a doomsday scenario, anyone who stacks physical silver soon comes to an uncomfortable realization. You can fit your life savings in a fanny pack if it's in gold. But if it's silver, you need a wheelbarrow and a strong back. Yet, amazingly, the BugOut Bag crowd seems like the same ones always touting silver. What is wrong with this picture?<br /><br /><br />Eric Originalhttps://www.blogger.com/profile/09663512536878956249noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-34007944484515513952014-05-01T07:05:43.052-07:002014-05-01T07:05:43.052-07:00Thanks Dan.
I like your answer, since I've al...Thanks Dan.<br /><br />I like your answer, since I've always viewed the near-religous fervor regarding 15:1 as being pretty silly. I've caught a lot of flak for that from the true believers over the years.<br /><br />I spent my whole life up until 2010 owning no silver at all. And as of a month ago, again I own no silver at all.Eric Originalhttps://www.blogger.com/profile/09663512536878956249noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-71121500541874942982014-05-01T06:48:18.594-07:002014-05-01T06:48:18.594-07:00Eric O;
It makes for nice charts but is of no use...Eric O;<br /><br />It makes for nice charts but is of no useful value when it comes to trading. Silver needs an inflationary environment in which to thrive and if it does not get it, it has no speculative interest on the long side. My guess is that the hedge funds are probably now net short in there but it might not show up yet on this week's COT report because of the Tuesday cut off date. They have been selling rallies in this metal for some time now and are the ones who keep hitting it near $20. Just like gold, it throws off no yield and in what most western based investors view as a benign inflationary environment, those looking for a return on capital are not interested in it.<br /><br />Trader Danhttps://www.blogger.com/profile/05484363461047659198noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-32245792767659609602014-05-01T06:24:25.429-07:002014-05-01T06:24:25.429-07:00Wow another rout in PMs and oil is also getting br...Wow another rout in PMs and oil is also getting brutalized just 24 hours after jsmineset posted more than 100 articles bleating about Ukraine, lol....<br /><br />And Janet hasn't even uttered a single word to cause the sudden commodity crash.Markhttps://www.blogger.com/profile/13068811838777958318noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-85781266249231351152014-05-01T05:24:19.594-07:002014-05-01T05:24:19.594-07:00Dan,
Curious about your views regarding the Gold-...Dan, <br />Curious about your views regarding the Gold-Silver Ratio. Does it enter into your work at all? Or is it simply something that only silverbugs give a whoop about? <br /><br />Seems to be making new highs, fwiw.Eric Originalhttps://www.blogger.com/profile/09663512536878956249noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-50435373580419892014-04-30T22:11:22.183-07:002014-04-30T22:11:22.183-07:00Wow, silver imploding, looks like $18 by morning, ...Wow, silver imploding, looks like $18 by morning, poor Stephen Leeb must be bleating and squeaking "bloody murder"!!!<br /><br />If only he had bought Borg Warner, Lithia Motors, or even Palladium to participate in the Global Economic Boom in automobiles.Markhttps://www.blogger.com/profile/13068811838777958318noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-66024414938405656692014-04-30T20:41:54.238-07:002014-04-30T20:41:54.238-07:00Dan
Really appreciate your additional commentary o...Dan<br />Really appreciate your additional commentary on the other commodity markets. Mike Ehlerthttps://www.blogger.com/profile/03796788820435662856noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-83635661777332045732014-04-30T20:39:40.817-07:002014-04-30T20:39:40.817-07:00"Sell in May" is fine but Dan is right. ..."Sell in May" is fine but Dan is right. Let the price chart be your guide. Mike Ehlerthttps://www.blogger.com/profile/03796788820435662856noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-56658156923421451122014-04-30T19:30:37.231-07:002014-04-30T19:30:37.231-07:00Silver is a led balloon.Silver is a led balloon.Anonymoushttps://www.blogger.com/profile/12649641347882802144noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-6589861757533536232014-04-30T18:53:07.055-07:002014-04-30T18:53:07.055-07:00tyler is the Bulgarian bullshitter; all he cares a...tyler is the Bulgarian bullshitter; all he cares about is volume; credibility, what is that? ask yourselves, are you buying gold and silver because of Ukraine? And you did not buy because of Libya or CAR, or Syria? Oh, but of course you and your family and friends are all moving to Russia, India, and China, right? lol, my good friendsAnonymoushttps://www.blogger.com/profile/15820220635483947518noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-41491357390568970312014-04-30T18:16:54.869-07:002014-04-30T18:16:54.869-07:00And here comes another pumper espousing how China ...And here comes another pumper espousing how China will be responsible for golds next big leg up (after a tremendous leg down that went unforeseen and unacknowledged)<br /><br />All the PM "veteran" jock sniffers out there who regurgitate every single bit of hyperbolic rhetoric like a seagull eating french fries will C&P Sprott's vision without a second thought to it's biases seeing as how Sprott has acknowledged he is allegedly working with Chinese Govt, interests.<br /><br />In other words...he's pumping, again. Buyer beware.<br />¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤<br /><br />Eric Sprott On The Implications Of The "Chinese Gold Vortex"<br /><br />Submitted by Tyler Durden on 04/30/2014 - 18:40<br /><br />After a long and agonizing winter which was attributed to the so-called “Polar Vortex”, we thought it would be appropriate to highlight for precious metal investors the implications of what we call the “Chinese Gold Vortex”. Over the past year, we have been very vocal about what we consider an aberration: the complete disconnect between gold supply and demand fundamentals and the actual price of the metal.<br /><br />Zerohedge.com<br /><br />Where the end of everything is only a matter of time.DarkPurpleHazehttps://www.blogger.com/profile/06725074790604681185noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-91646534148499954752014-04-30T18:07:51.604-07:002014-04-30T18:07:51.604-07:00all I know is that I eat $13 rib-eyes, while those...all I know is that I eat $13 rib-eyes, while those donkeys stuff themselves on p&j sandwiches and lousy bottled water; sparksAnonymoushttps://www.blogger.com/profile/15820220635483947518noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-25632399054064584012014-04-30T17:59:47.617-07:002014-04-30T17:59:47.617-07:00at the same time though, beans, corn, wheat limits...at the same time though, beans, corn, wheat limits are expanding; sparksAnonymoushttps://www.blogger.com/profile/15820220635483947518noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-21188019280382981242014-04-30T17:30:51.754-07:002014-04-30T17:30:51.754-07:00If the trend being set by CME to limit swings in t...If the trend being set by CME to limit swings in the markets is part of the new normal it'll take a long time to repair the chart damage and overcome the negative publicity gold has received the last couple years.<br /><br />It'll be interesting to see if the Fed tapers all the way down to zero in a consistent manner by years end or early 2015.<br /><br />At that point we'll know exactly who completely blew their "...by the end of 2014..." call on gold and silver.<br />The pundits out there who keep claiming that this current QE is forever are blinded with a smug certainty they've bestowed upon themselves.<br />Some of their reasoning is nothing more then an overarching belief system that is so entrenched that the individuals FEELINGS (based on principles or deep biases) are projected as indeed being fact.<br /><br />To hear some of these balloon-heads speak you get the unmistakeable impression they actually believe they're smarter then and in lock step (or one step ahead) of CB policy in the US and abroad.<br />That same magical know-it-all syndrome includes knowing what heads of state have in mind and how world events will play out and why.<br /><br />The KWN/Jim Willie/Alex Jones-types of the PM blogosphere have given the sector a black eye that'll linger for quite awhile...or until the end of 2014 when we see how all the wild predictions pan out and from whom.<br /><br />People at some point will wake up to the song and dance they've been patronized with is little more then cheerleading a losing team getting it's ass kocked for the last 2+ years while grasping at straws looking for any plausible reason or excuse why the PM's seem comatose.<br /><br />Evil manipulation, of course, is to blame for everything. :-0<br /><br /><br />DarkPurpleHazehttps://www.blogger.com/profile/06725074790604681185noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-37945449500664330732014-04-30T17:29:28.997-07:002014-04-30T17:29:28.997-07:00Hilarious. I like the idea of "This Is It!&q...Hilarious. I like the idea of "This Is It!" newsletter. First page should say "It is Now!!" Maybe we fill it with a basic daily and weekly trend chart of SPY, GLD, GDX and can charge $25/yr. as long as we put in Eric King - style pretty chicks with bikinis.<br /><br />On top of that, we can hold fancy seminars in modern hotels and charge $100 a pop and do Powerpoint presentations on how "Any Minute Now, It's All Going to Implode!" and "Get Out" and "Beware of Bail In", yada, yada, yada.<br /><br />By the time we are 80 years old we'll have 250,000 subscribers just paying $25 to be entertained by the non-stop hysteria about how the world is going to end, filled with pictures of supermodels.<br /><br />Not a bad idea for doing nothing but repeating the same crap over and over again and getting paid.<br /><br />LOL...Markhttps://www.blogger.com/profile/13068811838777958318noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-80747606927066347432014-04-30T16:53:47.756-07:002014-04-30T16:53:47.756-07:00dis-comb-u-lated, GIAMATT? what do I know of techn...dis-comb-u-lated, GIAMATT? what do I know of technical terms. I just see gold & silver trending down on a weekly chart. I do believe in holding physical ribs for the medium term and buy/making barbeque sauce on the dips. I'm ready to bite into my rib stack as soon as the weather turns. northwindhttps://www.blogger.com/profile/06292076475264967828noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-12004780795696429802014-04-30T16:18:45.329-07:002014-04-30T16:18:45.329-07:00Someone should start a subscription newsletter cal...Someone should start a subscription newsletter called, "this is it". Everyday that one sentence will be sent out to everyone. No predictions whatsoever. Just, this is it. That way the newswriter can be 100% right all the time. Dont have to bother with worthless predictions.arniehttps://www.blogger.com/profile/17597016551120682781noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-33913671543109452592014-04-30T15:42:01.836-07:002014-04-30T15:42:01.836-07:00the big moves in the pm's are all behind us, m...the big moves in the pm's are all behind us, much to the chagrin of the pontificating, chest pumping letter writers soiling the media atmosphere, re-stating the obvious and looking for either the end of the world next Wednesday or whatever. What is also very tiresome is the ongoing analysis of the greatness or stupidity of various so-called world leaders and their strategies going forward. These guys all make it sound like they have a direct pipeline into Brussels, Moscow, and D.C. What they do not seem to realize though, is that all the players are merely making it up as they go along. There is no grand plan. Like we always say, the answer is in Sparks, and that is that there is no answer, so just relax and see how it all plays out; swb Anonymoushttps://www.blogger.com/profile/15820220635483947518noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-51737841386901500462014-04-30T15:38:58.774-07:002014-04-30T15:38:58.774-07:00so more taper out of washington , more untaper out...so more taper out of washington , more untaper out of brussels … what a farce … how can it be that the day they announce further tapering stock market goes up , yields go down.. ?? .. and also no growth whatsoever … so the almighty US drops 3% growth in q1 because of the weather … anyway … this , of course has nothing to do with trading .. but its just hilarious . Anonhttps://www.blogger.com/profile/01595034035769200702noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-2381658671691129052014-04-30T15:38:36.514-07:002014-04-30T15:38:36.514-07:00BOBBO;
I have to marvel at the temerity of those ...BOBBO;<br /><br />I have to marvel at the temerity of those guys who were so quick to start yakking up about that supposed upside reversal on the charts last week. These are the same people who love to write me bashing me for detailing the technical posture of the market.<br /><br />"Don't you know how utterly worthless your technical price charts are in a market that is obviously manipulated by the feds?" they constantly remind me. Then, whenever those same technicals suddenly turn bullish, they are like new converts to a faith, swearing their undying allegiance to the art of technical analysis. <br /><br />It is sickening to sit here and have to stomach the duplicity and outright hypocrisy of such. They have no shame, and no hesitation whatsoever to utterly contradict themselves over and over again as long as gold moves higher or anything remotely resembling something on the charts appears to be friendly.<br /><br />You are right - Friday's employment numbers have the potential to be a big market mover.<br /><br />We'll see what we get.<br /><br />Thanks for the comments.Trader Danhttps://www.blogger.com/profile/05484363461047659198noreply@blogger.com