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Focusing on oil

March 5, 2015

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155 Comments
    CFS
    Mar 05, 2015 05:08 AM

    London closes and NY pounds gold again today.

      Mar 05, 2015 05:16 AM

      The New York boys have been in a groove lately, no doubt about it.

      Mar 05, 2015 05:44 AM

      Did NY just take gold around the back of the bike shed and give it a good pounding?

      How do you know that it is NY to blame? It could be those sneaky Brits using that new whizz-ho invention of Mr. Graham Bell and making it look as if it is NY when, in reality, it is Chipping Sodbury.

        Mar 05, 2015 05:49 AM

        Damn those London bankers; always up to no good.

        Mar 05, 2015 05:13 AM

        I think it’s Martians

          FRIDAY……..WHAT A HOOT……………the BANKSTERS are really working this one….,

            WELCOME……..TO MANIPULATION FRIDAY………..YOU know it is the start of SPRING BREAK for many of the COlleges…… The banksters need to ready themselves for a free holiday paid vacation for their friends and families. They will be gone for a weekend, and be back Monday , and trade off…..and Make Off….with the markets.

            Mar 06, 2015 06:50 PM

            nnn

      cfs………been like that for 2 years………….

        JOKE OF THE DAY………………GOLDMAN WARNS….that job numbers will be lower due to Snow…………..

          Also,like there is a snowball’s chance in hell, that the job numbers are real………….

          Mar 05, 2015 05:08 PM

          But, but these are the shovel ready jobs Obama was talking about. How can that lead to lower employment? Job growth should be booming.

            they got sold all the snow shovels in the spring time, and put them in a warehouse, and forgot where the warehouse was………………………

            with all the snow in Boston and the east coast……every TOM, DICK AND HARRY, could have a job shoveling snow,,,,and the remaining crap from Washington……….

            WASHINGTON is SNOW BLIND………………

            Washington needs a SNOW GOOSE, TO get off their arce……………

            SHOVEL READY JOBS……………required at the burial grounds for BOOMERS reaching the…..end of the trail…

            Mar 05, 2015 05:19 PM

            Obama care, it’s ” shovel ready “

            Well, it is Friday………..and the SHOVEL OF SH.., JOB numbers from WASHING..TON OF CRAP just landed in the pm markets……………Jpmortician has got the silver casket out and the silver bears are having a graveyard dance at the edge of the pit….over the cliff it goes, with endless manipulation and false reporting out the WAZOO……..

    Mar 05, 2015 05:42 AM

    That is really useful information on the production / supply side of things in the US Chris – thanks.

    It appears that everyone is continuing to pump oil and hoping that the low price will go away sooner than later. However, if they keep pumping and adding to the over-supply then surely there will be a crash later this year when people realise just how much oil is sitting around, as Chris sad, in holding tanks, tankers, etc.

      Mar 05, 2015 05:53 AM

      Could it be that the US is preparing for some prolonged conflict? Just thinking out loud.

      Mar 05, 2015 05:46 AM

      Bob, another aspect of this that Cory and I didn’t get into is that some lenders are suspending covenants and otherwise NOT bringing the hammer down all that much yet on over-leveraged producers. They may think the consequences of allowing this all to go on in the hopes that a recovering price will bail everyone out is less bad than the alternative: an acknowledgement of the bad debts, with the bankruptcies and turmoil which would surely follow. So–and maybe this example is an overstatement, but it makes the point — the lenders are kind of like the ECB/Germany, while some companies resemble Greece. They want to extend and pretend and hope to get lucky, rather than admit the truth.

      We’ll see how long all this lasts, though, 1. if prices do take another downturn and 2. as companies file their updated reserves (or lack thereof)

        Mar 05, 2015 05:47 AM

        I’m not sure there are any “conflict” worries Chris. In any case, the SPR is near full as are tankers and, increasingly, everything else. About the only thing they can do next is go to American households and fill our bath tubs and swimming pools.

          Mar 05, 2015 05:58 PM

          You may have unwittingly invented the next TV reality show, Chris.

          “About the only thing they can do next is go to American households and fill our bath tubs and swimming pools”

        Mar 05, 2015 05:01 AM

        Thanks Chris – in which case we could be looking at a world of pain for the oil price later this year AND lots of companies finally going bankrupt when the lenders demand their bills are paid. Ouch!

        I was looking at RIG – Transocean – last night as a possible. I think I will go back and look at bio tech instead.

        Mar 05, 2015 05:56 PM

        Good point Chris. There seems to be no desire by the banks to call loans even when covenants are breached. Maybe because they have so much cheap money available to them or maybe because they know it would have a very negative trickle over effect to many of their other loans.

    Mar 05, 2015 05:13 AM

    For the record, I’ve been moving my main money out of my local Texas bank whom I’ve heard has been a lender to oil and gas exploration companies in favor of one of the big ones (not to mention Charles Schwab offers free ATM withdrawals worldwide!) Speaking of which, the Euro keeps falling which is great for my upcoming Italy trip with the wife. I figured it would have started a corrective bounce by now.

      Mar 05, 2015 05:40 PM

      Wiseguy:
      If your local bank is in Texas,how are we suppose to interpret your comment on the Netenyahu discussion and I quote”It’s easier to say from your ivory tower in the USA”

    Mar 05, 2015 05:45 AM

    Ukraine Bans Gold Transactions Over $125, Currency Derivatives and Interbank Purchases Exceeding $10,000; Update on Black Market Rates in Ukraine

    Read more at http://globaleconomicanalysis.blogspot.com/2015/03/ukraine-bans-gold-transactions-over-125.html#SshumgFoajPoFadB.99

    SIDEWAYS THURSAY……..no big news, nothing happening………

      Mar 05, 2015 05:08 PM

      Just another day for the gold market in 2015. Sideways and boring… At least it’s better than going down 😉

    Mar 05, 2015 05:36 PM

    It’s hard to see how this Neo-Feudal Casino-Gulag Plantation Economy can achieve healthy, sustainable, long term growth.

      Mar 05, 2015 05:34 PM

      I’ll have to remember that, Ebolan…I’ve called them the Global Plantation masters…the plutocracy…other things. But all those adjectives are appropriate

    CFS
    Mar 05, 2015 05:54 PM

    OFF Topic, in support partially of Bob Moriarty’s position:

    A 386-page report, “Critical Technology Assessment in Israel and NATO Nations,”
    has just been released under FOIA.

    In 1987 the Department of Defense discovered that Israel had a nuclear weapons program, detailed it and then has covered it up for 25 years in violation of the Symington and Glenn amendments, costing taxpayers $86 billion.

    US Federal laws were violated by the US in choosing not to acknowledge Israel’s nuclear program.
    (Indeed the US assisted Israeli in developing their nuclear program.

    The Symington Amendment to the Foreign Assistance Act of 1961 prohibits most U.S. foreign aid to any country found trafficking in nuclear enrichment equipment or technology outside international safeguards.

    “The Glenn Amendment of 1977 calls for an end to U.S. foreign aid to countries that import nuclear reprocessing technology.”

    Further Mr. Moriarty stated that while Iran was a signatory to the Nuclear non-Proliferation Treaty whereas Israel was not.
    I would like to point out it was the Shah of Iran that signed the treaty in exchange for being sold a nuclear reactor. No official from Iran since the overthrow of the Shah has publicly endorsed the Non-Proliferation Treaty.

      Mar 05, 2015 05:01 PM

      No official from Iran has refused to acknowledge Iran’s compliance or acceptance of the Non-Proliferation Treaty.

      Now let’s talk about the real nuclear threat in the Middle-East rather than an imaginary threat.

        bb
        Mar 06, 2015 06:08 AM

        The Iranian FM urged Netanyahu to refresh his knowledge of history as his comments have not only “distort[ed] realities of today,” but also go against the Bile and Jewish sacred texts.

        “He even distorts his own scripture. If you read the book of Esther, you will see that it was the Iranian king who saved the Jews…” Zarif said.

        The Iranian Minister called Netanyahu’s accusations “truly regrettable” stressing that they refer to “an entire nation which has saved Jews three times.”

        “It is truly, truly regrettable that bigotry gets to the point of making allegations against an entire nation which has saved Jews three times in its history: Once during that time of a prime minister who was trying to kill the Jews, and the king saved the Jews; again during the time of Cyrus the Great, where he saved the Jews from Babylon, and during the Second World War, where Iran saved the Jews,” he said.

        “We’re not about the annihilation of Jews,” Zarif stressed, reminding the channel that 20,000 Jews reside in Iran “in peace” and even have their own representative in parliament

        Mar 06, 2015 06:20 AM

        Define threat Bob.

    CFS
    Mar 05, 2015 05:06 PM

    1987 was the date of the report.

    I did not quite phrase things correctly above in saying “In 1987 the DoD discovered….”
    I’m sure they knew all along.
    How by their own report clearly US laws have been broken at least since 1987.

    Mar 05, 2015 05:16 PM

    A shale company defaulted without paying a cent on its bond. A lot of funds chase yield instead of buying gold. They will lose their shirt.

    http://www.zerohedge.com/news/2015-03-05/shale-company-pulls-movie-gallery-defaults-175-mm-bonds-without-making-even-one-coup

      Mar 05, 2015 05:18 PM

      How about US banks? They are loaded with junk bond from shale play.

      Mar 05, 2015 05:40 PM

      Is this the first shale producer to do this? I notice above that Chris mentions Cal-Dive has applied for bankruptcy protection? Is ‘it’ now starting?

        LPG
        Mar 05, 2015 05:02 PM

        To apply for bankruptcy protection… I Cal-(this-a-)Dive indeed 🙂 🙂 🙂
        Best to you Bob UK
        LPG

    CFS
    Mar 05, 2015 05:32 PM

    Clinton uses email from her own insecure server at her home in Chapaqua, N. Y..
    She communicates with Sidney Blumenthal, a whitehouse official who uses insecure AOL for his emails. Illegal utter incompetency. Of course they are hacked.
    Re: Benghazi:
    The attack, carried out by Islamic militants, killed U.S. Ambassador Christopher Stevens and U.S. Foreign Service Information Management Officer Sean Smith. A second attack, hours later, resulted in the deaths of Tyrone S. Woods and Glen Doherty, both CIA contractors. Ten others were injured.
    Reporter Aaron Klein recently revealed the existence of the hacked email. It was sent to Clinton by former Clinton White House staffer Sidney Blumenthal, who stated that “wealthy Sunni Islamists in Saudi Arabia” funded the Benghazi attack.

    It is now becoming clear to me that Obama is a Sunni Muslim.

    ISIS is predominantly Sunni.
    The Muslim Brotherhood is Sunni.

    Qadiffi was Shia
    The leadership of Syria is Shia.
    Iraq is Shia.

    CFS
    Mar 05, 2015 05:45 PM

    CIA whistleblower, Jeffrey Sterling, now faces up to 100 years in prison and a fine of $2.25 million for blowing the whistle on the CIA planting false evidence of nuclear weapons in Iran. This demonstrates how corrupt the government is.

    CFS
    Mar 05, 2015 05:47 PM

    It also demonstrates how fast asleep the American public are.

    Mar 05, 2015 05:52 PM

    Real estate in Toronto is booming, the average cost of a garage is now $1 million, if you want to buy an air conditioned dog house that will cost you $1.5 million. DT

      Mar 05, 2015 05:04 PM

      Any stats? It cannot be unless you are joking

      Mar 05, 2015 05:11 PM

      When I was in Toronto earlier this week it was incredible to see the development. Huge 50+ story residential towers all over the place. I stayed with a friend and they commented on how much rent was. Sounded very similar to Vancouver. It’s crazy!

        Mar 05, 2015 05:55 PM

        Cory, the pension funds are now buying whole condominiums before they are occupied and turning them into rental properties. Many of the people who bought these places several years ago are getting nothing for their down payment, they didn’t read how the contract they signed allows the developer to switch to rental before final occupancy.
        WHY? Developers are learning that individual investors who buy these units to rent out are getting constant cash flow while still being able to sell the unit later for a better price, but honestly I think they want the monthly income. What’s old is becoming new again. In the past it was not unusual to see rental apartments being turned into condominiums, but this place is like New York in the 1920’s. DT

    Mar 05, 2015 05:36 PM

    Where are Gary and Doc today?

    Mar 05, 2015 05:17 PM

    Dang. The war drums are beating…

    WASHINGTON — The US military’s plans to send troops into Romania and Bulgaria as a deterrence to Russian aggression could expand to include Hungary, the Czech Republic and Russia’s southern neighbor, Georgia, according to a US Army official spearheading the effort.

    “So by the end of the summer, you could very well see an operation that stretches from the Baltics all the way down to the Black Sea,” Foster said, speaking at the Center for Strategic and International Studies here on Monday. “As you connect countries, there is almost a line of US troops.”

    http://www.defensenews.com/story/defense/land/army/2015/03/03/atlantic-resolve-may-expand-army-official-says/24332169

      Mar 05, 2015 05:22 PM

      You know who is the aggressor

        Mar 06, 2015 06:27 AM

        Yes I think we know. And it is not who you imply Lawrence. Russia savors the opportunity to pick apart pieces of the European Union in defiance of Nato interests and those of the United States. Easy work as Europe is entering a depression and the continent is swimming in debt even as German intransigence on fostering a fiscal and political union is being hijacked by those who see themselves as creditor benefactors for the poorer Southern neighbors. Looks like greed will be the undoing of the Euro experiment as Russia waits in the wings to pick off pieces of the pie for its regional hegemonic ambitions.

          Mar 06, 2015 06:50 AM

          EU and Russia are controlled by the same gang.
          All have central banks.
          All contrived conflicts for the same old game.
          After a few hundred years of consolidation one wonders why there is still confusion.

          Mar 06, 2015 06:55 AM

          You must be a banker bird so you are so good at this twisted logic. US like the Germans and French will be defeated by the Russians. Invaders pay with their lives. Shame to America. NATO is a mob organization and it will dissolve itself. US was involved in 70% of wars after WWII and has brought misery to vast region in the world. Look at the countries US has invaded in the last decades in the Middle East. THEY ARE ALL IN A STATE OF MISERY. People with conscience cannot watch it happening. This is evil.

    Mar 06, 2015 06:36 AM

    Silver just broke down. We have our direction now as it has just hit 15.90 and that is damning for gold. So down she goes boys….but we already knew that (right?).

      Mar 06, 2015 06:52 AM

      You mean JP Morgan knew.
      They run this game illegally without any real oversight by the Fed.
      But we already knew that.

        MATT………..DITTO …………..ALL FALSE REPORTING of all NUMBERS…..and 500 year low interest rate……..

          Mar 06, 2015 06:08 AM

          What false reporting? You are just making that up.

            You would like to think so……..go do some reading………

            Mar 06, 2015 06:20 AM

            OK…what do you suggest? I have a copy of Mary Poppins handy. The kids love that book. Or I could read Dr Seuss. Green Eggs and Ham baby! Now that you got me on that topic it reminds me I need to get a smoker. There is zero smoked meat and cheese over here. Got to do it myself I suppose. Not that it is so hard. Basically you just light the smoker and wait.

            So what was it you were getting at?

            BIRD…………..you have stayed to long in the children’s section…….., were you a hold over in school, for bad behavior…………lol………………

    Mar 06, 2015 06:38 AM

    Gold breaking lower too as we speak. Next leg down looks to have begun and the sideways trading around the 1200 mark has ended. This appears to be a response to yesterdays rise in the dollar.

      Mar 06, 2015 06:53 AM

      That’s not what I read.1192 marks the bottom in the next leg up.
      Then again,I don’t have an agenda.

        Mar 06, 2015 06:05 AM

        Should read 1185-1192 to mark the bottom.
        Also,March 6th is the 50% retracement in time from the bull market high.
        So. I am expecting a bottom of sorts to be put in on Comex Free n Fair Friday.

          Mar 06, 2015 06:23 AM

          1172 now and still dropping. Looks like most of the action is already over for the day though.

            Mar 06, 2015 06:21 AM

            1163 now….wow….the world REALLY hates gold more than even I thought.

    Mar 06, 2015 06:39 AM

    You want to know what is exaggerated right now in US equity markets? It is the threat of margin debt. Can someone explain to me how margin is a problem when the retail and private investor is hardly even present? Right now the money is coming in from pension funds, government bodies, Central Banks, Hedges and large traders. Capital is flowing in from deep pockets abroad. How the hell is margin a risk when all the major players can meet the calls?

    This is not 1929 when the largest bulk of stock buyers were private citizens and brokerages were still relatively small and scattered. We need to challenge this assumption that keeps getting so much airtime.

    Margin debt is ONLY an issue when the equities holders are small, highly levered and unable to meet margin clerk calls. But that is not the case right now. So I am calling bullsh*t on this theory that simply does not translate from the past Depression to our modern world.

    But if you want to worry? Then go to China’s Shanghai where you do indeed see margin risk brought on by millions of individual novice investors in a poorly developed market that is not yet dominated by big money.

    Now there are the conditions to create a real crash….not in the US though.

      Mar 06, 2015 06:55 AM

      That’s not quite what Rothschild said yesterday.
      His clan owns the world pretty much.
      Might want to pay attention to what he says.

        That was a great article on the what Rothschild put out on zerohedge………

          Mar 06, 2015 06:23 AM

          Really? I didn’t think he said anything we have not already heard before.

            You must be talking to me………Btw, how did everything go with you and BOBBY M….,

            I AM answer your “really”……I think the thought was………ROTHSCHILD’S THINKING, nice that he would put his thinking out there,…
            BTW , DID YOU READ THE ARTICLE?

            Mar 06, 2015 06:07 AM

            Yes, I read it. Not really interesting either. They have seriously underweighted the risk of depression in my opinion.

            You miss the point……………Do you think that the WORLD RICHEST PEOPLE ARE YOU TO TELL YOU ANYTHING BUT…………..A LIE………………they are the MONEY CHANGERS……………….

      CFS
      Mar 06, 2015 06:56 AM

      Ever hear of Long Term Management, Bird?

      There about many leveraged funds that do NOT have deep pockets.

        Mar 06, 2015 06:27 AM

        True, it is not all cases CFS. But what I am pointing out is the real risk on margin is presented by retail investors and these are different days than those in the Depression when the market was dominated by individuals and small brokerages. Most of the large players can meet margin these days….so how is the stock market at risk where leverage is concerned?

    Mar 06, 2015 06:37 AM

    And the wonderfull EURO IS DROPPING ! LONG LIVE GOLD !

      Mar 06, 2015 06:39 AM

      1 KG GOLD BAR NOW 34950 EURO 20 % OFF ALL TIME HIGH !

    Tom
    Mar 06, 2015 06:00 AM

    Timber!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Gold might hit 1000oz. today alone. Just like the 80s, more of the same follks.

      Mar 06, 2015 06:02 AM

      GOLD DROPPING THE SAME THE EURO DROPPING NOW 1,3 % ALL MANIPULATION !

      Mar 06, 2015 06:45 AM

      Timber is right. Gold, silver, GLD, GDXJ and others have lost most or all of their gains for the year. We are right back where we started when 2015 opened. Next FOMC is March 17 – 18th and gold is very unlikely to get much traction between then and now. Especially as talk of a rate hike will accelerate.

    GOLD DOWN….. …..sells off because of FALSE JOBS NUMBER……….what a joke…., it will just be the endless and mindless reporting…..just get use to it…………..

      Mar 06, 2015 06:23 AM

      Labour participation rate going down the crapper. Nearing 100 million now.

    Mar 06, 2015 06:24 AM

    It’s not a black swan when you were waiting for it to happen….
    Bottom is on the way!! Finally..

      that was not a black swan today……….it was a swan dive…………

        Good….now that , that is over, let us move up …………………

        CFS
        Mar 06, 2015 06:57 AM

        Happened when NY opened too.

          There is absolutely no way, that immediately on the open,… Gold should fall like a ….well, like a Banker off a 33 story building without a parachute………

            Wonder who will be found on the pavement next……….any guess….maybe, someone with a HSBC or Swiss Bank title attached to their forehead………….The nail gun has been used, so they will have to figure out which instrument of death they should choose next……maybe a boomer rang …….Yes, a BOOMER RANG, ….END of the BOOMER RANG GERERATION

        Mar 06, 2015 06:23 AM

        That little move is just the start.

    Mar 06, 2015 06:45 AM

    Due to the slight delay of the release of the Non farm payroll number this morning, the attack on gold happened 2 minutes BEFORE the release. This exposed the manipulation. Investors cannot sell on news before it comes out.
    They have been doing it so often, once a while they have to show their true color. This is theft.

    http://news.goldseek.com/GoldSeek/1425654000.php

      Mar 06, 2015 06:45 AM

      I guess they no longer care.

        Mar 06, 2015 06:59 AM

        Lawrence,
        Fair point, if this is true and accurate. I believe gold would have sold off some regardless, based on interest rate expectations. Dollar surged, Treasury’s sold off, even stocks a bit. I believe rate expectations are behind a lot of this move. I myself stay out of commodities on NFP days, except for right now I have been short with JDST

          Mar 06, 2015 06:33 AM

          You got it Derek. Good call. This move was anticipated anyway just based on the technical picture and was what I have been calling for which is another leg down in gold. But look at the Ten Year on the chart now. Right splat on support.

            Mar 06, 2015 06:28 AM

            Birdman,
            Thanks. One nagging thing is bothering me, and that is the issue that it took until today to happen. Usually the markets seem smarter and not have to wait for data, to make their move. That is why I said above that gold would have soldoff SOME. There could be some nefarious characters that used the data to make it worse.

          Mar 06, 2015 06:35 AM

          Basically the good jobs report is being interpreted by the market as a signal confirming the Feds intention to raise rates so bonds sold off on the belief that is going to be a reality this year. Looks like it to me too because if they don’t there is virtually no room to apply policy levers later when and if required. I think a rate hike is in the cards. Possibly more than two this year albeit modest.

            Mar 06, 2015 06:37 AM

            Birdman,
            Are you seeing any relief recovery in bonds? I had lightened up my exposure, but am still hurting today, and with the last month price action. Would like to recover some. Wish I had anticipated better. So far, Armstrong sure has been wrong about bonds moving into the bubble phase, at least in US. Thanks.

            Mar 06, 2015 06:16 AM

            You know, the 10 year put in a clear double top in January this yea which was a warning signal but I was expressing some doubts anyway for different reasons. It was just that too many people were so certain long bonds was still the trade and that made me uncomfortable. When the 30 year made that massive move a few days ago though I thought it better to just shut up because I did not see THAT coming. Meanwhile the Fed has not taken a rate hike off the table altogether. I think the die is cast and believe it is coming even if its just a .25 move.

        Derek……………Interest rates are going negative in Europe………

          Mar 06, 2015 06:20 AM

          J,
          I know about the rates in Europe. It is not immediately clear to me how that might change what the Fed does, or the expectation of what the Fed may do. ? Thanks

          Mar 06, 2015 06:30 AM

          Now media is controlling public with naked lies. It gets worse than I was under communism. At least at that time people knew they were lied to and believed the opposite. Now people believe whatever elites put in front their faces. This is not good. If people are ill prepared, how about if crisis hits.

        Lawrence………….they, do not care…….and have never cared…..

    CFS
    Mar 06, 2015 06:41 AM

    The Fed will not raise rates.

      Mar 06, 2015 06:43 AM

      I think they have no choice. The numbers are showing that the economy is improving.

        IS IT ……

          Mar 06, 2015 06:46 AM

          J, let’s put aside the fact that we believe the numbers are hogwash. With that in mind, are the numbers showing overall improvement in the economy? Yes or no?

            Well…….lets see
            Real estate……….construction down, Existing home sales down.
            Cars……………….overpriced with 84 month loans……..and on verge of new repos
            Oil…………………construction and drilling stopped………jobs loss.
            Manufacturing…….?
            Hamberger flipping………….all time high.
            Retail………………………..numbers are not being met.
            College debt………………..all time high.
            No savings for 54% of the people.
            JOB…………where?……..what sector?
            You do not have to reply………John Williams at shadowstats has the real numbers.

            PS……..zero hedge just posted a comment on BLS………….

            Mar 06, 2015 06:03 AM

            J, I agree with you the REAL numbers are not good. But the Fed uses their GOOD numbers and not Williams’ numbers. And if you look at what the Fed is supplying as far as numbers, it shows the economy is on good footing. That’s is why I say the Fed is backed into a corner and will hike interest rates just a tad bit.

            chris……….I agree the fed is backed into a corner…….so, I have to agree that anything is possible………………I think that they are going to jawbone this until
            something breaks……but, I can see how they logically can, but, heck , YELLEN IS
            CRAZY….

            SORRY….I can NOT see how they logically can

      YOU ARE 100% ON TARGET…….CFS………

      Mar 06, 2015 06:16 AM

      But the expectations are that they will raise rates in my opinion. I think it is important to consider the expectations and invest accordingly, or else risk losing lot of money.

    Mar 06, 2015 06:47 AM

    Wow : Just made a nice profit in a 4 day investment in a insurance company. Looking at a food stock again as they keep trending up very slowly . best to you all S

      Mar 06, 2015 06:49 AM

      Which one Scott if I may ask?

        Mar 06, 2015 06:48 AM

        Thanks Bird for your input as a bear. Sold out went short 2 days ago…..just needed to extra bump to pull the trigger.

          I MISSED SOMETHING…short on What…………I thought you did not own anything gold related…………….and your family has not owned gold for two generations……..?

            Mar 06, 2015 06:34 PM

            You did. I mention a while ago I traded into KGI. Twice. Bought 300k of GCU a while ago.
            My metal is long gone. Silver was dumped at $49.

          Mar 06, 2015 06:35 PM

          REMEMBER THAT NEXT WEEK…………..

            Mar 06, 2015 06:44 PM

            To be honest I could care less about next week. Back to turning screws and pulling wire.
            I’m happy out with a profit. I doubt it coming roaring back. So well

            Mar 06, 2015 06:06 PM

            Bill………..thanks for sharing……………………….j

            Mar 06, 2015 06:35 PM

            Have a good weekend. None for me!

            Mar 06, 2015 06:45 PM

            ditto

          Mar 06, 2015 06:38 PM

          Anytime Bill. Its always good to be on the right side of the trade but never easy to get past the convincing arguments the gold bulls put forward relentlessly. You really need to know yourself and and show confidence in convictions while staying apart and not being persuaded when they start their usual antics.

            Mar 07, 2015 07:28 AM

            Bird………what are you trading…….? You have admitted several times you do not own gold, correct me if I am wrong.
            Show confidence in your convictions………..well, I think most gold bugs do that…,
            What a hoot……………..

            Mar 07, 2015 07:29 AM

            Check out the GOLD VAULT STORY ON HSBC…………might be of interest of to a short.

      which Insurance company…………….

    Mar 06, 2015 06:25 PM

    HSBC…….SHUTTING DOWN THEIR GOLD VAULTS IN LONDON……….kwn……