Chris and Gary discuss the conventional markets.
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AL I AGREE OLD WINE IS THE BEST !
old wine that is stored properly ……….other wise it is good salad dressing…
I LOVE AND NOW WINE ! J,,,,,THE LONG,,,,,,OOTB ! NR 1 iS BUY GOOD WINE FROM GOOD VINTAGES AND NR 2 WAIT TO DRINK ! INJOY !
Wine is going to get cheaper……………there is a glut of wine makers, and the public is not buying all the supply at those high prices of a few years ago………..Reserves might hold their value, but, there is a lot of good wines at reduced prices in the market at this moment……………JMHO.
Yes MAN ! Good times to discover new and thinks we miste !
I agree ,,,,a good time to discover some new vintages……
Jerry and Franky,
Boy, ain’t that the truth!
Don’t worry all controlled and plant ! Keeping the little whitys scared !
Oh Al, disappointed to hear you say essentially that you prefer market interventions to ‘save ‘ the market. The interventionists have destroyed price discovery mechanisms in the ‘free market’, and thereby destroyed the free markets that create the economic prosperity necessary to moves societies forward.
My guess it ‘they’ will hold it all together until after the elections. Also, where we see major corporations meeting/beating their EPS estimates, one has to wonder how much of that this time around is organic growth and how much is corporate cannibalism (share buybacks being used to buttress boardroom end of the year bonuses).
In short, the stock market is no longer a market of investors seeking profits via economic growth, but a market of marker makers/manipulators who take free money from the Fed and leverage to the moon to “move the the market’ in one direction or another depended upon how they preposition their options. Better put, the major ‘banks’ in tandem with the Fed are a syndication organized to plunder the wealth of nations in broad daylight–or, in old terms: orranized crime!
Isn’t it the 80th. anniversary of the killing of LUCKY BOY FLOYD, ,the criminal they shot for stealing from banks.?
OR was that Pretty Boy Floyd……….
Well, that’s what you get for stealing without permission.
Exactly, bj!
I cannot see the central planning in the west would be more successful than those in the east
Lawrence,
I don’t believe that it has gotten to that extreme quite yet!
More than current Chinese government is doing for sure.
Little “whitys”? Oh I get it, white wine!
Got it, thank you.
bj,
I can understand what you are saying.
I mean specifically, that at this moment in time I would rather see this happening than “riots in the streets”.
I guess that I am being dramatic, but I have to tell you I am very concerned about our society. All you have to look is to go back to the days of Rodney King, New Orleans, Florida, Missouri and so on.
In the short run, I do prefer this. The country will eventually be ready for what you, I and the rest of our family know needs to happen. I simply don’t think that today is a good day!
I know, but when you think back to how the riots in LA and Detroit spawned the welfare state, I’m not so sure centralized planning has done much to advance a sustainable robust economy. What we have is growth via deficit spending underpinned by currency debauchment.
Also and regrettably, bailing out the stock markets will at best postpone the inevitable, where the longer we wait the worse it will be. Local, state, federal and foreign country pension funds (along with ongoing operations)are all floating on this hot balloon. Take away government workers and there’s very little left of the middle class to insulate the haves from the have-nots. I don’t know how it can be avoided, governments are thinking the same way because they’ve built prisons all over place to housed the ‘misbehaved’, created the Patriot Act and given themselves permission to define a terrorist to be anyone they don’t like. The die is cast the stage is set. Never in history have so many currencies been devalued in a coordinated round robin of basements. It won’t be the end of the world…just the fall of another empire that overreached and outspent itself.
And, it’s called history always repeats itself!
It is nice to avoid turmoil. But these interventions are what have made the alternative so fearsome in the first place. As is so often said, the longer the re-balancing is put off, the worse it will be when it finally, inevitably comes.
Well of course, GH!
Seriously, there was a shooting today in the Canadian Parliament building. Three different shooting scenes.
Lovely. Bet there’s some great canadian patriot act type legislation just WAITING in the wings
I don’t mind the present government that much until it comes to this;
And I bet that we lose freedoms faster than we gain them.
Hope this is an isolated incident. There seems to be no motives mentioned.
I have been following that Dan since earlier this morning.
I guess that we don’t have a monopoly on crazy idiots!
Its confirmed, Canada has them too!
BREAKING NEWS ! In the office of a Canadian politician ! https://www.youtube.com/watch?v=qMkkfuSizc4
He definitely deserved the academy award for that performance!
I am sitting in a Japanese fast food place.i am shocked that they raised the price by 20%. They already raised price by 15% early this year. Some people keep saying there is no inflation. They must be joking. As the food price rises mining cost will go up too.
If miners do not want to die out, they should learn from the restaurants.
Inflation doesn’t exist in our Utopia. Haven’t you been paying attention to what your friendly bankers and economists have been saying these past few years? I find it quite disturbing that you speak ill of our little centrally planned Utopia……….
FINAL LEG UP………………..is what a dog says before going in after a long walk.
The propaganda is as thick as Beijing smog.
Japan is going to be the first country to fail. Abe and his wizards have quite a conundrum on their hands, and frankly they have nothing at their disposal to fix the country’s problems. Propaganda is the only thing they have left to use.
Sorry, this is a Japanese restaurant in Canada not in Japan.
They can nationalize all the pension plans, real estate and savings in the country and then go back and start from scratch debt free. You just know they are going down that road eventually.
Can I be selfish? Okay thanks. Hopefully not in my lifetime!
In downtown Calgary, Lawrence? Just a block off the C-Train? I have been there. Fantastic food. Cannot recall the name though but it was quite nice.
If we are thinking of the same place, that is where I had Thai food for the first time about 25 years ago!
I think Rose Gaurden is on Eigth Avenue and first street South West. One block from C-Train station. Very clean and the food is good except I wish they provide more variety.
One mistake the communist countries made is calling their ministry of Information as Ministry of Propaganda.
Right Chris,
Currently only about 1%!
Sushi, Lawrence. Are you in Vancouver? If so which restaurant. I happen to like Shogun for lunch!
I am in Calgary. Never interested in Vancover.
Decent sushi in Calgary. I would bet not. There is a great Thai restaurant though!
I think you mean Rose Garden, Right? It is close to Telus Convention Centre where you had Calgary Resource Conference.
Sushi in Calgary is not that great but reasonable.
I think that it was called Rose Garden, Lawrence. But, it has been a long time!
Come on Lawrence. The best Dim Sum in North America is there!
I like capitalism. Vancouver is too socialist.
Like renting Granola. Yeah….I know what you mean.
Now that, Bird, is a good one!
BLOW OF TOP…….means lose of hair….. OLD FASHION.., means you should stop wearing your house slippers and robe to work in the morning while doing the market report.
OF ….should be OFF………..
Now Jerry, you are getting personal!
the market is like the “Matrix”…when they wake up, it won’t be pretty
Time to sell oil stocks was this am. Oil looks like is headed toward the $70 area.
Nothing wrong with the word “profit” if it existed in this case!
Interesting Paul. I am waiting for oil to bottom at 80 before buying back in.
Time to sell oil stocks was awile back when i was telling everyone we were headed down and that was when oil was 110 a barrel. Ive been dead bang on in here and no appreciation :(.. Ive called and nailed quite a bit. I should charge al a fee 🙂
Just playing with you al.. Ive also called that equities would not collapse till after elections and now everyone including the old lady next door is saying we wont go down down. Ive been saying that almost four months back. How about great job glen? I need a pat on my back i think i saved some glen followers armageddon. I believe i may have one or two out there 🙂
So you think oil might bounce off 80 then?
Bird,
Sorry for late response..I believe wti has a date with 78 which has been a target of mine for a long time. Fits in nicely with timing, cycles and current indicators. May I also add elections around the corner also make 78 a high percentage chance of reversal and up we go.. If 78 breaks I’m expecting a complete collapse and very quick move into 60, 50, 40 and yes 2009 bottom. But I don’t expect oil to break 78 until next year. After election everything is going up.
Next few days are going to get really interesting Glen. GDX and GDXJ are high on my radar. This may be their moment of truth and I suspect which ever way they go that oil will follow. All are at key technical supports this morning.
Personally I think the dollar will dictate here. It has two choices right now, it can complete a lower low which it appears to want to do…….or it can go back up and retest near .87 then double top before heading back down.
My gut’s telling me the Euro will double bottom and the dollar double top though. So that means odds favour a bounce in the miners and ETF’s as a better probability play.
New dollar rally is starting and that might be why gold stocks were weak in advance. I took a loss on gdx yesterday. I don’ think this market is going to all time highs by the next fed meeting. The 50 day average will provide strong resistance and shorts will come out at that level. Could take to the end of the year to get to 2000 on s&p or even Jan/Feb.
Paul L,
You are assuming that the S&P will get to those levels. My guess is that they probably will.
Well done glen. You deserve a pat on the back.
Biggish not sure if your being sarcastic but thanks my friend.
Haha, got a chuckle at 5 minutes into the segment; when Chris says “old fashioned” and Al interjects his plea not to say that again.
But Al, at the end of the day OLD GUYS RULE!
Chips, that is what one of my hats says!
Ah! haha… I have a t-shirt saying that! Got it at a surf shop on Daytona Beach a few years back. I wear it with pride 🙂
I got mine at an old guys store in La Quinta!
Glen. You and birdman have a great understanding of the what is driving these markets at the moment and ur predictions have been spot on. Credit where credit is due. Keep them coming. Biggus.
Thanks a bunch..Going to be hard to post today as volatility is keeping me glued to pc.
Yep Glenfidish, today is very interesting!
Thanks Biggus!
SHOOTING IN CANADIAN PARLIAMENT BUY BUY BUY GOLD !