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Short and fast. The Rio Grande served the remote NorthWest corner of Colorado with the Yampa Valley Mail. Here we are descending the Rocky Mountain ‘Flatirons’ into the high plains of Denver ahead.
http://www.railpictures.net/photo/634013/
Gold Train
discarded syringe poll?
every time i have to give puppy shots to a litter of puppies, i have to discard a bunch of them. every time i pump curing brine into a piece of meat when i’m making bacon, ham, pastrami, etc, there’s a syringe. that one, a 4 oz brute, gets cleaned and put away, not discarded.
RNO/R640
RNO – Good point. The SM may ultimately be the last man standing when it comes to saving pensions and retirement funds which is why they cannot ever let it really correct. If the SM falls, the globalists lose control over most of the populace and their benefits – which means a lot of angry people. The previous corrections in 00′ and 07′ were in relatively good economic times where healthcare wasn’t killing the avg. Joe. Big difference now.
R640 – The Brexit and the VIX spiked only for a day. I don’t know what today was, but it was definitely different from what we’ve seen for months on end with the VIX and gold catching bids in the last hour.
The PPT better fix this by morning. 🙂
Bad news for stock mkt. bears!
RARE VIX SIGNAL JUST SOUNDED FOR THE 5TH TIME EVER
VIX premium peaked before the Brexit panic and the U.S. election surprise
As just another example of the low stock market volatility of late, the CBOE Market Volatility Index (VIX) — or Wall Street’s “fear gauge” — is flashing a signal so rare we’ve seen it just four other times since 1990. Specifically, VIX premium has crested above 200%, according to Schaeffer’s Quantitative Analyst Chris Prybal, which was a really bad signal for the VIX in 2016. Below, we’ll explain what VIX premium is, and what it could mean for the S&P 500 Index (SPX) going forward.
The lofty VIX premium indicates short-term S&P options are “overpricing” volatility expectations relative to the volatility the index has actually realized over the last four weeks’ worth of trading. In other words, it’s a measure of how expensive the VIX is based on the SPX’s previous 20 days’ worth of trading. Mathematically, the VIX premium is simply [VIX – 20-day SPX historical volatility (HV)]/20-day HVs, expressed as a percentage. We considered only one signal every 21 trading days.
The last time it crested 200% was on Aug. 9, and prior to that just before the November election surprise. Before that, the VIX premium topped 200% on June 22, 2016, at the start of the Brexit panic. The only other time this signal has flashed since 1990 was in late December 2010. As you can see on the chart below, previous signals have preceded notable VIX drops
Reversal down in the stock futures indexes
maybe this will be the one, but don’t bet on it. the ppt is still alive and well.
with the whole country’s retirement in the stock market, a significant setback would really be devastating. CALPERS would collapse and Moonbeam would be on his way to Washington D.C. for a BIG bailout. he can’t afford to turn his back on the “undocumented”.
rno
R640
Yeah, that little blip because of potentially Jay Powell becoming the Fed head didn’t last very long. Definitely an algo driven reaction.
As always though, pm’s slough it off and revert back into sell mode.
Poll Results …. Don’t have much comment. I will just say that there’s quite a range in the word “innapropriately.”
For the men … During the course of my life I have at some point touched a woman “innapropriately.”
Yes (47%, 20 Votes)
No (37%, 16 Votes)
What? (16%, 7 Votes)
Total Voters: 43
Just posted on ZH
Gold Jumps As Trump Says “Very, Very Close” To Fed Chair Decision
The Dollar index dropped and gold jumped as President Trump told reporters during a meeting with the prime minister of Singapore that he was “very very close” to a decision on who would be the next chair(person) of The Fed…
Jerome Powell continues to be the front-runner…
[so that means today or next week…]
SNG
The call to that Gold Star widow was not the same person. The other person was in a car and the words Trump used were apparently misrepresented. I don’t remember the exact words he was said to use but refering to him saying ” He knew what he was getting into” but apparently said more like but they did it anyways and they’re heros. Something to that context and after it was taken out of context.
Buygold–I just heard that an announcement bout the next FED-Head is coming soon-and the more dovish guy
is expected to get it–that is supposedly gold bullish–but we have had dovish Yellen in for yrs. and gold has done nothing–so our experience has shown–like with the monthly jobs report–that a pop on an announcement is short lived…
WASHINGTON (Reuters) – President Donald Trump is considering nominating Federal Reserve Governor Jerome Powell and Stanford University economist John Taylor for the central bank’s top two jobs, in an apparent bid to reassure markets and appease conservatives hungry for change.
Under that scenario, either Powell or Taylor would take the reins from Fed Chair Janet Yellen when her term expires in early February, and the other would fill the vice chair position left vacant when Stanley Fischer retired this month.
“That is something that is under consideration, but he hasn’t ruled out a number of options. He’ll have an announcement on that soon, in the coming days,” White House spokeswoman Sarah Sanders told reporters on Friday.
Making Powell, a soft-spoken centrist who has supported Yellen’s gradual approach to raising interest rates, the next Fed chief would provide the continuity in monetary policy that investors crave.
The addition of Taylor, who has backed an overhaul of the Fed and embraced a more rigid rule-oriented monetary policy, would be a feather in the cap of conservative Republicans who feel that monetary policy has been too loose under Yellen, who was named as Fed chair by Democratic President Barack Obama and has led the central bank since February 2014.
“I think Powell might be the safer pick insofar as we know what we’re getting,” said Michael Feroli, chief U.S. economist at J.P. Morgan Chase. “He’s a guy who obviously knows the Fed culture, how the (policy-setting) committee operates, so for some of those soft skills we know he would be effective.”
Powell has embraced the Yellen Fed’s monetary policy, keeping the faith that a tighter job market will eventually push wages higher and end a lengthy period of worryingly low inflation.
Taylor has spent the last two decades refining and advocating wider use of a rule that lays out where interest rates ought to be, given certain conditions of inflation and the broader economy. His rule implies that rates should be higher than they are now.
and now
Air Force Denies That US Nuclear Bombers Are Being Put Back On 24-Hour Alert
R640
Saw that some short covering came in and kicked gold mildly positive.
Wonder if they’ll stop any reversal dead in its tracks as usual.
Not seeing any news.
Venezuela shipping tainted oil … compounding their problems
The quality problem is very much related to the country’s economic crisis. Without cash, PDVSA is struggling to obtain the proper chemicals to treat its oil, or pay for equipment and upkeep to maintain quality. As a result, PDVSA has had to shut down operations, or throttle back on production. “We’re refitting chemical injection points, recouping pumps and storage tanks,” one PDVSA worker told Reuters. “But without chemicals, we can’t do anything.”
The oil company has been shipping crude that is apparently causing problems for refiners around the world. According to Reuters, that has led to complaints and even cancellations of purchases. Phillips 66, a U.S. refiner, cancelled at least eight cargoes in the first half of the year due to inferior quality. It also demanded discounts for other shipments. Refiners in India and China have also lodged complaints.
The sales cancellation poses a serious financial threat to a company and country already wallowing in a horrific economic crisis. For example, the cancelled shipments were carrying oil representing $200 million in value, according to Reuters estimates. PDVSA is the only lifeline for the Venezuelan state, so reports that the one source of revenue keeping the country somewhat afloat is not only declining but is now exhibiting declining quality is alarming.
http://www.zerohedge.com/news/2017-10-23/oil-quality-issues-could-bankrupt-venezuela
Maddog @ 8:00
I sure don’t like that much … now the Russians will respond in kind. let’s not go step by step right into nuclear annihilation.
It’s all fun and games until you wipe out every human living on the world.
DOW 500,000
Markets Don’t Compound
Morgan states that in 30-years, if the Dow grows at just 5% annually, it will hit 500,000. However, if the Dow actually compounded returns at 5%, in the future, as Morgan suggests, it would have done so in the past and would ALREADY be at 500,000.
But it’s not. We are just stuck here at a crappy ole’ 23,000.
Straightening out the record on Trumps call to the widow. Listen for yourself and get the truth instead of the media lies.
Trump’s Call to Gold Star Widow Recorded, Shows Real Side
For The First Time In 26 Years, US To Put Nuclear Bombers On 24 Hour Alert
http://www.zerohedge.com/news/2017-10-22/us-put-nuclear-bombers-24-hour-alert-first-time-26-years
Tks to the Rig, this News means nothing to the Mkts…as of now small weekly bull Gap openings are forecast for the SM, which means we Gap Higher into new Record Hi’s for the 2nd week running.
Something ain’t right here
take a look at the Russell 2000 chart vs the Dow and S&P. I don’t know if this is the canary in the coal mine or just the result of low volume. I’m thinking maybe the retirement monthly contributions are all that is holding the stock market up. If the Fed is going to unwind the huge bond position, where is the fiat coming from to buy them unless it’s out of stocks?
confusing, ain’t it?
rno
