The Good Old Trading Time is Here Again!
The miners have broken above the 50 moving average again. That is good. Here are our miners: AUY 9.30; DROOY 8.30; HL 2.87; HMY 10.40; SLW 8.59, and VGZ 1.79. I will be using 3-5% trailing stops on some if the price goes into the profit range for me.
Below are the 24 hour spot gold and silver graphs. Look at yesterday's trading in red. That certainly is free market activity, is it not? NO! NO! See the first reference below. Even CNBC discusses government intervention. There are no free markets in America today. We have only intervention. And until the bullion banks stop controlling the precious metals, we will have only the trading range that these manipulators allow. Therefore, I am back into trading the miners for self defense.
Gold is 937.80 up 11.80 and silver is 13.67 up 0.12 as of now. The DOW is about 8552 up 105+.
Here is a discussion on government intervention in the markets on a continuing basis from CNBC: HERE.
WOW! Even the popular media is beginning to see the light.
If it quacks like a duck and walks like a duck, it is not always a duck in the case of government and pseudo government statistics. Here is an example from Chuck Butler in the DailyPfennig.com: "A story, by Min Zeng, titled, "Is Foreign Demand As Solid As It Looks?
These are the things that really TICK ME OFF folks, so stay with me on this... Basically, as we all know the U.S. Treasury Auctions have been getting "covered" easily recently... And foreign demand was listed as the reason... Which would have been the exact opposite of what I was saying about foreigners shying away from Treasuries...
Here's the skinny... But I'll let Min Zeng tell it, since he did the research and brought this to the public, even though it was tucked away so no one would notice!
"But in a little-noticed switch on June 1, the Treasury changed the way it accounts for indirect bids, putting more buyers under that umbrella and boosting the portion of recent Treasury sales that the market perceived were being bought by foreigners.
The new definitions are deep in the arcane world of Treasury auctions. The change involves buyers who place orders through primary dealers. Those had been counted as direct buyers, but as of June 1 they were classified as indirect buyers, making that group larger than before. Because investors view that group as being dominated by foreign buyers, they assumed foreign demand was higher.
OK, back to me... Ahhh, so that's what's going on... The Treasury "moved the goal posts on us"... As Sylvester would say... That's despicable! Why isn't someone in Washington D.C. shouting from the roof tops about this? Oh, that's right, they're all in cahoots!
This is HUGE folks... So... When the markets were thinking that foreign demand was increasing, it was actually, as I had said, shying away from Treasuries! Which, if the market participants are thinking that as long as foreigners are "buying into our deficit spending" then the dollar will be on terra firma, but instead are getting "duped" by the U.S. Treasury, you would think that someone would have some xplainin to do... Right Lucy?"
By the way, Chuck does a great job on currencies. You can visit the site to get a free subscription. He is never mealy mouthed about his comments. I appreciate his articles very much. In this case, we are being deceived as to the percent of foreign buying of U.S. debt. It is shrinking as reported from across the globe, though not here.
From Bloomberg.com:
Sterling Crisis Looms as U.K. Unraveling Points to Budget Cuts
Things are rotten in Denmark, oops, the UK. Read it HERE.
James Turk of GoldMoney.com has posted a new commentary comparing the price of precious metals in various currencies. It is of interest to all. Read it HERE.
We will have a rough time ahead in the markets, because they are not free and defy accurate prediction. The intervention is political at the core, but in precious metals the prices are manipulated by the bullion banks to their advantage. This is much more than insider trading, it is direct, immoral, and illegal action to control the prices of the metals by bullion banks backed by the Fed and Federal Government. It is designed to take advantage of investors and the technical traders. The bullion banks hold a great number of shorts which they cover from time to time as they sell into the market and force the price down. When it is down they buy long contracts and add shorts as the price increases. Then they do it again. How long O Lord? How long will they be allowed to defraud the public?
Until they stop, I will be buying in on the miners as they drop down and putting in trailing stops as they rise. This can be a profitable way to handle the manipulation, but there will come a time when the bullion banks lose their control. When is unknown to us.
It is known to our Sovereign God who is in absolute control. I rest in Him and am content that He is in control. He loves and cares for His people, thus we can be at peace.
Best to each, Doug
Below are the 24 hour spot gold and silver graphs. Look at yesterday's trading in red. That certainly is free market activity, is it not? NO! NO! See the first reference below. Even CNBC discusses government intervention. There are no free markets in America today. We have only intervention. And until the bullion banks stop controlling the precious metals, we will have only the trading range that these manipulators allow. Therefore, I am back into trading the miners for self defense.
Gold is 937.80 up 11.80 and silver is 13.67 up 0.12 as of now. The DOW is about 8552 up 105+.Here is a discussion on government intervention in the markets on a continuing basis from CNBC: HERE.
WOW! Even the popular media is beginning to see the light.
If it quacks like a duck and walks like a duck, it is not always a duck in the case of government and pseudo government statistics. Here is an example from Chuck Butler in the DailyPfennig.com: "A story, by Min Zeng, titled, "Is Foreign Demand As Solid As It Looks?
These are the things that really TICK ME OFF folks, so stay with me on this... Basically, as we all know the U.S. Treasury Auctions have been getting "covered" easily recently... And foreign demand was listed as the reason... Which would have been the exact opposite of what I was saying about foreigners shying away from Treasuries...
Here's the skinny... But I'll let Min Zeng tell it, since he did the research and brought this to the public, even though it was tucked away so no one would notice!
"But in a little-noticed switch on June 1, the Treasury changed the way it accounts for indirect bids, putting more buyers under that umbrella and boosting the portion of recent Treasury sales that the market perceived were being bought by foreigners.
The new definitions are deep in the arcane world of Treasury auctions. The change involves buyers who place orders through primary dealers. Those had been counted as direct buyers, but as of June 1 they were classified as indirect buyers, making that group larger than before. Because investors view that group as being dominated by foreign buyers, they assumed foreign demand was higher.
OK, back to me... Ahhh, so that's what's going on... The Treasury "moved the goal posts on us"... As Sylvester would say... That's despicable! Why isn't someone in Washington D.C. shouting from the roof tops about this? Oh, that's right, they're all in cahoots!
This is HUGE folks... So... When the markets were thinking that foreign demand was increasing, it was actually, as I had said, shying away from Treasuries! Which, if the market participants are thinking that as long as foreigners are "buying into our deficit spending" then the dollar will be on terra firma, but instead are getting "duped" by the U.S. Treasury, you would think that someone would have some xplainin to do... Right Lucy?"
By the way, Chuck does a great job on currencies. You can visit the site to get a free subscription. He is never mealy mouthed about his comments. I appreciate his articles very much. In this case, we are being deceived as to the percent of foreign buying of U.S. debt. It is shrinking as reported from across the globe, though not here.
From Bloomberg.com:
Sterling Crisis Looms as U.K. Unraveling Points to Budget Cuts
Things are rotten in Denmark, oops, the UK. Read it HERE.
James Turk of GoldMoney.com has posted a new commentary comparing the price of precious metals in various currencies. It is of interest to all. Read it HERE.
We will have a rough time ahead in the markets, because they are not free and defy accurate prediction. The intervention is political at the core, but in precious metals the prices are manipulated by the bullion banks to their advantage. This is much more than insider trading, it is direct, immoral, and illegal action to control the prices of the metals by bullion banks backed by the Fed and Federal Government. It is designed to take advantage of investors and the technical traders. The bullion banks hold a great number of shorts which they cover from time to time as they sell into the market and force the price down. When it is down they buy long contracts and add shorts as the price increases. Then they do it again. How long O Lord? How long will they be allowed to defraud the public?
Until they stop, I will be buying in on the miners as they drop down and putting in trailing stops as they rise. This can be a profitable way to handle the manipulation, but there will come a time when the bullion banks lose their control. When is unknown to us.
It is known to our Sovereign God who is in absolute control. I rest in Him and am content that He is in control. He loves and cares for His people, thus we can be at peace.
Best to each, Doug
posted by Doug @ 9:24 AM
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