Market Trends – Wed 1 Aug, 2012

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Roger Wiegand

  1. On August 2, 2012 at 9:09 am,
    James says:

    The ECB failed to act and deliver on Mario Draghi’s boastful claim to save the Euro at all costs. Watching the ECB press conference, he came across as an arrogant jerk who was trying to squirrel out of his words he blathered out last week. They have no solutions and they know it, ditto Bernanke. We are clearly in a deflationary death spiral. They continue to deny and delay, that is their MO. The job numbers tomorrow will be poor, the media will spin it. There are very dark clouds on the horizon.

  2. On August 2, 2012 at 9:50 am,
    Marc says:

    Big Al and all,
    IMHO, TA is not what it used to be. The markets have become to corrupted and influenced by Fed, ECB and the “debt hounds”. My ONLY thought is to hang on until the OVERWHELMING fundamentals play out for the PM’s to rocket higher and higher. They will – and sure as the sun will set this evening,

  3. On August 2, 2012 at 10:01 am,
    Dan, calgary says:

    If the LIBOR is manipulated and these banks have thousands of employees then who says that individual small cap stocks are not manipulated. I think that there is personal resentment against PM stock holders and short selling in them is not being cleared through the central clearing hubs properly. Thus, we are investing in conterfiet shares of PM shares and wondering what in hell’s name is going on. We are hated and treated that way. Otherwise the gold to XAU ratio would not be over 10.


    • On August 2, 2012 at 10:10 am,
      James says:

      Dan, I would stay away from all stocks at this point, PM shares included. There is no longer any integrity or confidence. All can be manipulated. Look at the flash crash, look at mf global, and what happened recently with technical glitches shutting down the nyse. Look at kcg stock today, you can lose everything overnight. Stick to bullion only.

      • On August 2, 2012 at 10:18 am,
        Dan, calgary says:

        Hi James,

        I remember the flash crash. I saw opportunity and tried trading but NONE of my trades would go through because only the traders with the most massive electronic pipes into thier systems could trade. I think that the warrant game is where a lot of the manipulation has occured.

        Somewhere there must be a bunch of people with university degrees trading in a completely illegal way who all deserve criminal records and problems getting a labour job.


      • On August 2, 2012 at 10:21 am,
        Vortex says:


        Trying to sway people to stay away from stocks is about as useless as trying to convince the masses from participating in a criminal political system that is dead.

        They just cannot fathom or accept the reality of either situation. The die is cast, only when they pass through the looking-glass, will they awake.

        • On August 2, 2012 at 1:03 pm,
          Big Al says:

          And enter Alice’s world, Vortex.



  4. On August 2, 2012 at 10:13 am,
    Silverbug Dave says:

    It looks like a breakout and test of the upper trendline of the recent triangle formation in force since May.. Having said that , it is a very small triangle/pennant compared to the huge one since September 2011. That one had its apex at about 1720 and needed 1760 to breakout. Breakout failed end of Nov / start of Dec 2011 and it failed to hold at 1680 and plunged to 1540 early Dec. So 1680 is still a key level. It was the breakdown level of that original paennat and now there is a big head and shoulders going way back to last August with a 1680 neckline approximately. Gold has to clear that to get anywhere positive. Anything else and we are still in the correction.

    I had a bad dream last night. I was chart watching and gold took a plunge down. By the time I was signed into my spreadbetting software, it was $1200!

    • On August 2, 2012 at 10:29 am,
      Dan, calgary says:

      As Marc said above, TA is dead. Mario is playing Ben’s game of ridding the world of the pesky middle class. Its like they created money for themselves and they want it all back now. That’s deflation. This must be how people think after eating too much caviare. (I had to look caviare up just to spell it!) (;-D


    • On August 2, 2012 at 11:42 am,
      Marc says:

      YIKES…double…YIKES…but, now we can buy more! 🙂

  5. On August 2, 2012 at 10:28 am,
    Dennis M. O'Neil says:

    3.2% yield at that level.
    If they maintain their announced dividend policy at $2400 AU price it will yield 10% from today’s entry point.
    If AU goes up and NEM maintains current policy I cannot help but wonder what NEM will be selling for at $2400 AU.
    The miners need to engage dividend policies as well as replacing reserves.
    Just my two cents for the day.

    • On August 2, 2012 at 10:30 am,
      Dennis M. O'Neil says:

      The above post was in regards to :
      I could not help adding to NEM under $44 today.

      • On August 2, 2012 at 11:43 am,
        Marc says:

        I COMPLETELY agree.

    • On August 2, 2012 at 1:03 pm,
      Big Al says:

      Dennis M,

      Your input is worth a lot more than two cents!

      Big Al

  6. On August 2, 2012 at 11:59 am,
    Irwin says:

    I’ve made some money this year, and taken enough profits so that if need be, I can do some tax loss selling and still break even.

    If things don’t change over the next 5 months in energy and PM stocks, I’ll be doing some house cleaning and then find something else to do.

    (sorted by YTD column)