Friday, March 7, 2014
I came across this video below after finding out that Millionaires count as "crunkcore". Huh? That's very sad.
Anyway, here is someone doing an utterly hilarious dramatic reading of a sex scene from Fifty Shades Darker or something, fuck I dunno.
It confuses me, because I thought it was supposed to be some sort of hardcore S&M novel series, and here they are in book two and there's boring old-fashioned oral sex going on.
That middle-aged soccer-mom women take this book seriously in any way suggests to me that they must never have had sex in their lives.
Here's some stuff for the morning:
New Deal Democrat - Feb jobs report was surprisingly decent. Even then, he still worries too much. Grow some balls and buy the S&P, sissy!
Calculated Risk - commentary on the employment report. Bill McBride weighs in with his own opinions.
Reformed Borker (Bork Bork Bork!) - the 2007 top versus today. The breadth charts show there is no looming market top. Grow some fucking balls and buy the S&P, sissy!
BI - financials rally as tech takes a step back. Pretty obvious, really; everyone spent the last 6 months buying the QQQ, while financials fell behind. Now other sectors will play catch-up.
Calculated Risk - Fed flow of funds shows household net worth at record high. In case you have any clue how to interpret such a data point.
FT beyond brics - India elections: the market reacts. By going up because GS noted a Modi win is good for India. I'm still sure that you want to sell on the actual election results: India is still a pathetic third-world shithole. It should be a positive input for the gold price in the meantime, though: that is, if only Wall Street Whitey had a fucking clue what drives the gold price.
SCIENTISTS INVENT MACHINE THAT CAN GIVE A WOMAN AN ORGASM AT THE PUSH OF A BUTTON: here's what you need to know
The Daily Mail, your one-stop source for science news - scientists build orgasm machine for women that delivers a climax at the push of a button. Article helpfully includes illustrations of what an orgasm and a pushbutton might look like.
No, they're not referring to the ATM.
No men aren't now obsolete, but we'll probably be killing a lot more spiders.
Yes, you should buy stock in Realdoll.
Blah blah blah, various further one-line responses, everybody laughs, roll on snare drum, curtains.
IKN - screw the BLS, copper is the big story today. This chart looks like the gold chart during the ultimately failed battle for $1500. Take a look:
Multiple bangs against a support level, with lower and lower highs on each rebound and the price spending most of its time below the weekly SMA(50)? Sorry buddy, that doesn't look good.
If copper breaks below $3.10 this time, it might be the last time. The more times you've already banged against support, the weaker each recovery is, the more likely you punch through it the next time.
And when $3.10-$3.00 is broken, what will all the commodity speculators want to do with their copper positions? You think they'll hold them when the chart's broken?
Geez, I wonder if those Chinese copper stores being used as collateral for dodgy shadow banking loans have anything to do with this?
If so, a copper collapse below $3.10 might be a bad omen for gold.
That clunking noise you just heard was gold getting slammed down $15 instantaneously on a good jobs report.
Calculated Risk - February jobs report.
So I guess you can assume that the Wall Street bots have come back to the gold market, and they're trading instantaneously based on inputs that have utterly no bearing whatsoever on gold's physical supply/demand characteristics. Because America.
Let's see if this is enough to kill the junior miners:
You want to see GDXJ stay above $41.50 on the close.
The gold price is still in the same uptrend that it's been in, as long as it stays above $1330.
Thursday, March 6, 2014
Oh come on! The post is only an hour old. This was not supposed to happen!
I now appear ahead of the actual cruise in Google searches.
What's that? You're saying it's just because Google owns Blogger? You really saying that free-market capitalism is at fault here?
And #1 in searches for doug casey cruise too.
So here's Daniela Cambone interviewing the always-rumpled Eric Coffin:
And here she is with Eric Fier from Silvercrest:
Take it away, Eric the orchestra conductor!
Permaslave Dave - my adventures with Rick Rule on the Casey Cruise. He hasn't written this post yet, but I'm sure he will.
Someone (who you'd never expect to be on the Casey mailing list) sent me a link to this:
The 2015 Money, Metals, & Mining Cruise
where, in January 2015, you can spend ten fabulous days on the six-star luxury liner The Crystal Serenity with Marc Faber, Doug Casey, Brien Lundin, Peter Schiff, and the man who PSDave calls "devilishly handsome", Rick Rule.
Now, you would never catch me aboard a boat full of Objectivist Libertarians: I'd be worried about whether their rational self-interest includes throwing me overboard and telling the authorities I'd skipped out in Venezuela to assist Nicolas Maduro in spreading socialist revolution.
Plus I love my brain cells too much.
But what of a man like PSDave, who calls Rick Rule "devilishly handsome"? For him, spending ten days in the Caribbean with his boy-crush would be irresistible, no? And for only $6,720-$18,040 plus port taxes?
I'm sure he'll be going.
So here, ten and a half months ahead of time, are a couple previews from PSDave's post about his 2015 Casey Cruise adventure, where he meets his hero:
Here's more things to educate and entertain you!
Bespoke - jobless claims lower than expected. You'd have to be a real dunce to call for a secular top here.
Ritholtz - new highs aren't a fluke. You'd have to be a total fucking retard to call for a secular top here.
FT beyond brics - Indian voters itching for change at the top. The election has been called! Funny nuff, there are 9 separate voting days over the space of a month, so maybe we'll see a good two months of strength for gold as Modi starts addressing concerns? Then again, it's good to remember that Indian elections are bought at the local level, and nobody really knows who's going to win.
FT beyond brics - Aam Aadmi party putting on a good show in India. Apparently, Congress is expected to only win 100 seats; I didn't know it was going to be this bad for them. That would be a positive for gold, or at least it would be if Whitey bothered to figure out who buys it and decided to follow that country's news.
Guardian - Narendra Modi: India's saviour, or worst nightmare? Well, Jim O'Neill likes him, and I like Jim O'Neill.
IKN - Daniela Daniela Daniela! interviews Eric Coffin at PDAC. Since I can't post YouTube links from here at work, I'll just give you a link to IKN's post.
Permashave Dave - Daniela Daniela Daniela! interviews Eric Fier at PDAC. Geez, everyone's an Eric Fier fanboy all of a sudden, eh? Oh well, I guess I can take this as proof that Daniela reads my blog and takes my interview suggestions seriously.
Chronicles of Brodrick - Fraser Institute survey of mining is a good read. Hey Sean, reading is good, stay in school and drink your milk and all, but please understand that the Fraser Institute is a bunch of wilfully ignorant right-wing neocon hacks who really truly have no fucking clue whatsoever about international politics.
The Economist - why recovering assets from deposed kleptocrats is hard. As an aside, I want to bring up again my dismay that Fortune magazine never included Gaddhafi, Mubarak or Yanukovich in their lists of the richest people in the world. Is there a reason for this? Are they trying to perpetuate the lie that only hard-working clever job creators become billionaires?
The world gets even more exciting and we get even more reasons to own gold bullion!
The Daily Mail (Your One-Stop Source For Science News) - asteroid raced by the earth at 33,000 mph and came closer than the MOOOOON!!!1!one!!
Thankfully this gave everyone a grave illustration of why you need to own gold. I mean, what are your mass-printed fiat dollars going to be worth when this rock falls onto the double-wide of some guy in Soda Springs Idaho?
Nothing! Nothing I tell you!
Buy more gold!
Came across this bit of news, and since it's so world-shaking I had to share it with you - with a Joey The Weasel headline and everything.
Reuters - North Korea to hold elections. It sounds exciting, too! Quote:
"Agitation activities are going on to encourage citizens to take active part in the election with high political enthusiasm and labor feats, amid the playing of 'Song of the election,'" KCNA reported.They're obviously trying to get out the vote.
North Koreans, it said, sought to "demonstrate once again the might of single-minded unity by casting ballots for their candidates".
And the Economist even ran a primer for its many North Korean readers:
Economist - How North Korean elections work. Apparently, they're about as democratic as the old Soviet Union elections:
They are presented with a single candidate in the district where they live. These candidates are chosen by the Democratic Front for the Reunification of the Fatherland, the governing coalition, which is controlled by the Workers' Party. There is only one box to tick. Abstaining or voting no would be a dangerous act of treason, given that voting takes place in booths that do not provide any secrecy, and dissenting votes must be posted into a separate ballot box.We certainly live in exciting times!
Like I said, GDXJ bore watching. Whatever my theories are about the price of gold and the broader markets and yadda yadda, if the juniors still go up from here then I have to either buy them or explain to myself why I don't want to make money.
I like money.
So here's GDXJ as of this morning:
GDXJ is threatening to break above the top line of the pennant, so it doesn't matter what I think about gold and the miners and the PDAC curse: if it keeps going in this direction, it's going up.*
Even more, it looks like it's tested and is now loving away from its weekly SMA(50), which means a new longer-term bull market.
* - really all TA boils down to this, no? If it's going up, buy it. If it's not going up, sell it. Anything more complicated is just some wackaloon trying to be clever.