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but I think T/A is completely insignificant in the pm markets

Here’s Bloomberg again:

On Wednesday, McAfee blamed the recent market slump on unfounded fear of government intervention. He urged cryptocurrency holders — one of whom sported a “Buy The Dip” t-shirt — to stick with their bets.

Ya gotta admit McAfee is a bit over the TOP ,but…..He’s a hell of a Party animal !

It reminds me of my Scuba diving days..I always liked diving with the Dr.s,they know the risks of the bends and physical limits,so diving with them will keep you safe….but but when the diving day is done ,I always hung out with the Lawyers ,they are Risk takers and they know how to party ! They know where all the local bars are and the girls that like to party !

One guy I remember well a Red headed lawyer who was Ronald Reagans representative to China ,he and Ed Meese went there to teach them about the US Legal system ,he was also a party animal and my dive buddy on several trips ..haha I miss my diving days …The Drs and Lawyers were fun …One Dr told me about his ex and how she married another DR. who now sports around in his new Yacht with the  divorce settlement money ..he then said to me that som bitch got “MY BOAT”…….hehe

Re Dollar

and PM shares just put in hrly downside reversals, as small bull break outs were stopped dead and reversed….simply amazing action.

But I wonder how significant such TA is, in such rigged mkts….if we do see new Hi’s today, then the mkts don’t care.

Oil stocks like MRO iOS imo had quite a roller coaster ride since Dec. Jumped on Iran issue but less it has another catylist its nearing their PO’s. Then we’re heading into hurricane season although quiet so far and will signal inflation with the Feds I can guess so any new buying is risky.

Re Tesla

Fire is the dirty secret of Lithium Ion Batteries…When a racing car that has them crashes the Marshalls treat it all very seriously, as they are v scared that if a fire breaks out, the battery pack will explode, or maybe the impact will cause it to explode. No way do they run up and spray the car with foam, like a normal racing car, they seal off the area and wait to see if it goes up.

Just doesn’t seem to want to die.

It’s amazing pm’s have held up as well as they have with such a strong headwind.

we are up about $11 from the lows this morning and still going up…

The Trump agenda has won again, prisoners returning home, and finally an effective response to Iran’s nuclear ambitions is being built.  Oil and commodities are still moving upwards.  Time to increase your holdings on the gold train.

GOOD PLAN   !  makes good sence,all you need to do now is get the timing down …Good luck ..hehe

Tesla Model S Bursts Into Flames After “Horrific” Crash, Killing Two Men Trapped Inside

A Tesla Model S burst into flames after a “horrific crash” in which it hit a wall and burst into flames, trapping two men inside who died from their injuries.

Last night, the Iranian backed rebels fired another salvo at Riyad, Saudi Arabia.  Also last night the Israeli’s attacked another factory structure in Syria that was probably full of Iranian missiles as secondary explosions were recorded.

There is no doubt that the Israeili’s have warned the Russians that any large scale attack on Israel by Iranian missiles from Syria, Lebanon and Gaza will result in the Israeli’s directly attacking Iran as well as the missile bases in those three Iranian proxy countries.  I think this will keep the Iranians from launching a full scale attack on Israel until such time as they get their nukes developed and put on missiles.  In the meantime, the Israelis will continue attacking Iranian missile stockpiles and command and control centers in Syria, particularly in the Golan Heights area.  Last month the Israeli’s attacked the Iranian command center for Iranian drones at the Syrian T4 airfield, that too will continue.  Peace in the Middle East at this point is up to Iran.  They can spend their Obama windfall of cash on it’s people and infrastructure, or they can spend it trying to destroy Israel and increasing the reach of the Persian empire.

Your train is steaming by “Rich Bar!” That’s gold talk of course. It’s a sign! 🙂

could do was to be up 1.30 or so…I saw that a few minutes ago…now gold is dwon       50 cents…yes, yes, JNUG,SLV and others have come back from their pre-mkt lows…BUT THERE IS NO UPSIDE…at least not yet…resilience is nice but doesn’t pay the bills.

Also remember that gold can easily fall on any dollar rise but doesn’t necessarily rise on its fall…that said, I still stick to my call of $2500 to $3000 gold bby the end of 2018.

Interesting tks….we may get daily reversals in DXY and against Euro and Aussie.

These charts show the situation. Naturally 9/11/01 was a big factor. Soon after in 2004 you can see the instability in Copper and Oil prices. And it is NOT supply and demand that is unstable like that.

https://finviz.com/futures_charts.ashx?t=QA&p=m1  Copper

https://finviz.com/futures_charts.ashx?t=QA&p=m1  Oil

https://finviz.com/futures_charts.ashx?t=RB&p=m1  Gasoline

The future always has a lot of surprises. If gasoline and oil keep on climbing, we can figure a slowdown.

You could be right as the $ ETF speculators are neutral — unlike the precious metal ETF speculators who are always bullish. (the open interest put / call ratios are always well below unity)

To add to the clusterf*ck that is the ‘precious metals markets’ these days we now have the ETF speculators watching the futures speculators (who are increasingly betting bearish) thinking they have the ‘inside sentiment scoop’ and loading the boat with even more calls on GDX, GDXJ, NUGT, JNUG, SLV, GLD, UGL — get the picture? — it’s the greedy DF’s screwing it up for everybody — yet again.

Buying the metals and shares isn’t enough for them because they all want to be ‘richer’.

But instead end up poor.

So I’m with you — let’s hope for a $ surprise because it’s our only hope.

Cheers

Oil has a real strength to it…here in the UK tks to weak sterling, pump prices are getting back to all time Hi’s, TA is calling for mid 80’s and supposedly the Saudi’s want just under $ 90….

That is gonna pile on inflation numbers.

Elsewhere, it’s a perverse world where stocks rally on the US versus the rest of the World re Iran.

https://www.zerohedge.com/news/2018-05-09/blain-its-perverse-world-where-stocks-rally-us-vs-rest-world

Though the Dollar Rig has a misfire this AM…..is it serious…it could well be.

I show oil up 3%, USD flat, 10 yr. @ 3% – course SM up to start the day as usual

Wouldn’t be surprised, if pm’s and the SM reverse course today. We’ll see.

only news Trump/Iran !!!!!

and sniffing recent lows….so scum mkt telling us that the Donald never made a speech, or if he did nothing changes and all is well in the world.

The Rig rolls on, impervious to reality.