Comments on: Calm Before the Storm?

By: Richard

Richard — Thu, 18 Jun 2009 19:41:43 +0000

I think we will see 6000 by fall. In fact by winter, I think the only people holding stock, will be the crooks at Goldman Sucks and Jerk P Morgan that issued them in the first place.

And how how HOW big can the PAPER shorts that JPM and HSBC get before it breaks in silver and gold. How big indeed…….

By: Albert

Albert — Thu, 18 Jun 2009 11:38:22 +0000

Well Aug Gold jumped during the 1st few minutes when Globex open last evening and after that it is mostly treading water and now we are back below 940, the bears won’t give up so easy, so use Rick’s number instead imo.

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We looked at August Gold’s short-term charts during this morning’s briefing, Albert, and concluded there was organic weakness in the decline that followed the head-fake you’ve observed. This is different from the kind of weakness we might have seen if it were simply a consolidation to shake out premature or cocky bulls. RA

By: Occdude

Occdude — Thu, 18 Jun 2009 00:54:30 +0000

Personally Rick I think there is a fair amount of money waiting to time this market on the long side. They got caught with their pants down by the ferocity and irrationality of the current market, and Mr. BEAR Market smells an easy meal.

I think we gap down to the high 7000s, draw in the sucker money that got into cash at exactly the wrong time and mutual fund managers who if they tried to time this market, may be parking cars at the end of the quarter. We get back to 10 grand maaaaaaaaaaaaaaaaaaybe even 12 then watch out, especially if we get to 12,000 it will be biblical.

My synopsis then is euphoria followed by exteme equity revulsion.