Investors....come in please!
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Let's see what gold does.
If you'd like to follow a live blog:
http://blogs.wsj.com/marketbeat/2011/08/05/live-blog-markets-turmoil/
Gold's at $1691. A week ago I didn't think it would break $1600.
http://blogs.wsj.com/marketbeat/2011/08/05/live-blog-markets-turmoil/
Gold's at $1691. A week ago I didn't think it would break $1600.
Originally Posted By: GROUCHO MARX
Let's see what gold does.
http://www.kitco.com
Up 20 bucks; was up 40 earlier.
Let's see what gold does.
http://www.kitco.com
Up 20 bucks; was up 40 earlier.
Originally Posted By: Maximus1966
Pablo, I haven't read all of this thread yet, but it seems you tend to tell us quickly of all the big profits but not of the inevitable losses. Am I right or wrong?
Hey I had some paper losses on Thursday and I'm sure Monday will sting, but I'm not selling anything. In fact, some things are looking good to buy. I've not been sitting in cash because I like the return.
But yeah, PFO got hit hard, but I'm still nicely in the positive.
My petro related stuff was slammed.
Need I go on? They are all good companies and limited partnerships, with good books, so again, I'm not selling.
Pablo, I haven't read all of this thread yet, but it seems you tend to tell us quickly of all the big profits but not of the inevitable losses. Am I right or wrong?
Hey I had some paper losses on Thursday and I'm sure Monday will sting, but I'm not selling anything. In fact, some things are looking good to buy. I've not been sitting in cash because I like the return.
But yeah, PFO got hit hard, but I'm still nicely in the positive.
My petro related stuff was slammed.
Need I go on? They are all good companies and limited partnerships, with good books, so again, I'm not selling.
Yeah, gold doing alright. Treasuries reflect people's appetite for risk, gold reflects people's respect for the currency.
I have all commodities, currencies and gold. I am down pretty good but I continue to believe that commodities and Australia and Canada Currencies will be more stable than ours. So I (like Pablo) am gonna bottom feed. When (if) it turns around I suspect gold may drop. I'll probably sell some off.
Originally Posted By: buster
"Once again: S&P declared that US debt is no longer a safe investment; yet investors are piling into US debt, not out of it, driving the 10-year interest rate below 2.4%. This amounts to a massive market rejection of S&P’s concerns."
this is ridiculous. My wife and I bought our first home last November and signed for 30 year fixed interst rate at 4.25%. Instead of putting money in the stock market, I'm going to pay off our house in 10.5 years instead. I ran the numbers, I'll save $200k in Mortgage interest if I pay off our home in 10.5 years instead of paying it off in 30 years. The economy is too bleak for me to invest heavy in the market, I just invest in the max company match at work and that's it. although, some co-workers have 20% of their paycheck in the stock market every pay period which is crazy.
"Once again: S&P declared that US debt is no longer a safe investment; yet investors are piling into US debt, not out of it, driving the 10-year interest rate below 2.4%. This amounts to a massive market rejection of S&P’s concerns."
this is ridiculous. My wife and I bought our first home last November and signed for 30 year fixed interst rate at 4.25%. Instead of putting money in the stock market, I'm going to pay off our house in 10.5 years instead. I ran the numbers, I'll save $200k in Mortgage interest if I pay off our home in 10.5 years instead of paying it off in 30 years. The economy is too bleak for me to invest heavy in the market, I just invest in the max company match at work and that's it. although, some co-workers have 20% of their paycheck in the stock market every pay period which is crazy.
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Originally Posted By: buster
"Once again: S&P declared that US debt is no longer a safe investment; yet investors are piling into US debt, not out of it, driving the 10-year interest rate below 2.4%. This amounts to a massive market rejection of S&P’s concerns."
Everything can be an investment if the price / risk ratio is right. AAA to AA+ means the value drop and investors demand higher return for the additional risk, but it is still well within the investment grade (funds are allowed to buy only investment grade bonds).
Want to know what an unsafe investment is? Donald Trump's junk bond.
Got some XOM and COP today, seems like a good price and I like upstream heavy oil companies.
"Once again: S&P declared that US debt is no longer a safe investment; yet investors are piling into US debt, not out of it, driving the 10-year interest rate below 2.4%. This amounts to a massive market rejection of S&P’s concerns."
Everything can be an investment if the price / risk ratio is right. AAA to AA+ means the value drop and investors demand higher return for the additional risk, but it is still well within the investment grade (funds are allowed to buy only investment grade bonds).
Want to know what an unsafe investment is? Donald Trump's junk bond.
Got some XOM and COP today, seems like a good price and I like upstream heavy oil companies.
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Originally Posted By: Al
I have all commodities, currencies
I may be wrong but i think when little fishes like you and me started messing with currencies , the [censored] broke loose.
I had a good luck with Norwegian krones two years ago but i decided to sell them with a good profit and never looked back.
I didn't have the luxury to lose any money so the pressure was too much for me .
I have all commodities, currencies
I may be wrong but i think when little fishes like you and me started messing with currencies , the [censored] broke loose.
I had a good luck with Norwegian krones two years ago but i decided to sell them with a good profit and never looked back.
I didn't have the luxury to lose any money so the pressure was too much for me .
Originally Posted By: yannis
Al said:
Was listening to Denninger's podcast today - he made a great point: the economy has been scraped along by quantitative easing, and in the span of one week, it's all been wiped out. What's next???
I expect a few rebounds, but I don't think the slaughter is over by a long stretch. This isn't a normal cyclical boom/bust economy that we've had for the last several decades; MASSIVE structural problems exists and the normal mechanisms that government uses to try and fix the problems aren't working.
I expect a few rebounds, but I don't think the slaughter is over by a long stretch. This isn't a normal cyclical boom/bust economy that we've had for the last several decades; MASSIVE structural problems exists and the normal mechanisms that government uses to try and fix the problems aren't working.
Originally Posted By: Drew99GT
Was listening to Denninger's podcast today - he made a great point: the economy has been scraped along by quantitative easing, and in the span of one week, it's all been wiped out. What's next???
I expect a few rebounds, but I don't think the slaughter is over by a long stretch. This isn't a normal cyclical boom/bust economy that we've had for the last several decades; MASSIVE structural problems exists and the normal mechanisms that government uses to try and fix the problems aren't working.
Agree with everything.
I love Karl Denninger and I visit his site a few times a day. He nails it.
Was listening to Denninger's podcast today - he made a great point: the economy has been scraped along by quantitative easing, and in the span of one week, it's all been wiped out. What's next???
I expect a few rebounds, but I don't think the slaughter is over by a long stretch. This isn't a normal cyclical boom/bust economy that we've had for the last several decades; MASSIVE structural problems exists and the normal mechanisms that government uses to try and fix the problems aren't working.
Agree with everything.
Originally Posted By: Drew99GT
Was listening to Denninger's podcast today - he made a great point: the economy has been scraped along by quantitative easing, and in the span of one week, it's all been wiped out. What's next???
I expect a few rebounds, but I don't think the slaughter is over by a long stretch. This isn't a normal cyclical boom/bust economy that we've had for the last several decades; MASSIVE structural problems exists and the normal mechanisms that government uses to try and fix the problems aren't working.
Likely because the downgrade causes an expected devaluation of the bonds the banks and funds hold, so they have to re balance their positions. No matter what was the cause, it is definitely some of the traders knowing ahead of time (or calculate ahead of time) what is going on that wasn't revealed yet.
Was listening to Denninger's podcast today - he made a great point: the economy has been scraped along by quantitative easing, and in the span of one week, it's all been wiped out. What's next???
I expect a few rebounds, but I don't think the slaughter is over by a long stretch. This isn't a normal cyclical boom/bust economy that we've had for the last several decades; MASSIVE structural problems exists and the normal mechanisms that government uses to try and fix the problems aren't working.
Likely because the downgrade causes an expected devaluation of the bonds the banks and funds hold, so they have to re balance their positions. No matter what was the cause, it is definitely some of the traders knowing ahead of time (or calculate ahead of time) what is going on that wasn't revealed yet.
Actually, treasury prices have increased since the downgrade.
I think people are now pricing in another recession (or a continuation of the "great recession"). Only this time, we're going in with a real unemployment rate of probably 20%. The fundamental problem now is JOBS. Without them, consumer spending will continue dropping, tax revenues will continue dropping just when they need to be increasing to sustain our debt situation, and the countries largest bank is on the verge of bankruptcy. Remember, it was Lehman who essentially got the ball rolling off a cliff last time...
I think people are now pricing in another recession (or a continuation of the "great recession"). Only this time, we're going in with a real unemployment rate of probably 20%. The fundamental problem now is JOBS. Without them, consumer spending will continue dropping, tax revenues will continue dropping just when they need to be increasing to sustain our debt situation, and the countries largest bank is on the verge of bankruptcy. Remember, it was Lehman who essentially got the ball rolling off a cliff last time...
When you see banks being built everywhere, you know bad things are in store. 1929,2008, 2011. I called the last two (didn't matter, I lost anyways..timing timing timing.
Fasten your seatbelt..the easing was just used up, jobs are going away, and we are swimming in debt. The good thing is that all these banks will turn into bars.
Fasten your seatbelt..the easing was just used up, jobs are going away, and we are swimming in debt. The good thing is that all these banks will turn into bars.
Originally Posted By: PandaBear
Got some XOM and COP today, seems like a good price and I like upstream heavy oil companies.
Time to go in, when others are running for the door.
I took some new positions today as well. I'm not saying this is the bottom yet, but please we need some more "sky is falling", SHTF, stock up on dry dog biscuits, etc talk. SPREAD THE PANIC!!
Got some XOM and COP today, seems like a good price and I like upstream heavy oil companies.
Time to go in, when others are running for the door.
I took some new positions today as well. I'm not saying this is the bottom yet, but please we need some more "sky is falling", SHTF, stock up on dry dog biscuits, etc talk. SPREAD THE PANIC!!
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