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Pam and Russ Martens: Rivals prop up Citi because if it goes down, they all do

Posted by Richard640 @ 18:32 on August 17, 2019  

Submitted by cpowell on 03:00AM ET Saturday, August 17, 2019. Section: Daily Dispatches

Should This Be Illegal — Banks Recommending a Stock to the Public, then Secretly Trading It in Their Own Dark Pool?
By Pam and Russ Martens
Wall Street on Parade
Friday, August 16, 2019
The Dow Jones Industrial Average rallied 99.97 points yesterday but the mega Wall Street bank, Citigroup, closed in the red, down 0.15 percent. That decline follows a dramatic loss of 5.28 percent on Wednesday, a day that the Dow was down only 3.05 percent.
Citigroup’s closing price yesterday was $61.32. The stock has lost more than 88 percent of its value since 2007, despite its attempt to dress up the share price with a 1-for-10 reverse stock split in 2011, which left its long-term shareholders with 1 share for each 10 shares previously held.
Citi’s share price has also been dropping like a rock since July 24 of this year when it closed at $73.01. But that hasn’t triggered a rethink on the part of its competitor banks on Wall Street who have “buy” or “overweight” ratings on Citi’s stock according to MarketBeat.

From September 20, 2018, to the close of trading on Christmas Eve of last year, Citigroup lost a whopping 34 percent of its value. That’s in just a little over three months. Nothing about its situation or the global macroeconomic picture has changed for the better after last year’s rout but, for some reason, four of its big bank peers got very bullish on its stock this year. …
… For the remainder of the commentary:

Silver Creating A Huge Bullish Cup & Handle Pattern?

Posted by Ororeef @ 17:55 on August 17, 2019  

by | Aug 13, 2019 | Kimble Charting

Is Silver creating a multi-decade bullish Cup & Handle pattern? Possible!

Silver peaked at $50 in the early 1980s and then proceeded to fall for years. It peaked again at $50 in 2011 and it has declined for the past 8-years.

The two peaks at the $50 level could be the top of a bullish cup and handle pattern.

One this is for sure, Silver has been very weak over the past 8-years, as it has declined over 65%! The 8-year decline in Silver has created a uniform falling channel.

The move higher in Silver of late does have it breaking above the falling channel at (1). This breakout sends a bullish message to Silver owners.

The next important resistance test for Silver comes into play at the $17.64 level!

What would it take to determine if Silver has created a multi-decade bullish cup and handle pattern? A clean break above the $50 level, which is still a “long, long” way off!

 

R6 – Agree

Posted by Buygold @ 16:59 on August 17, 2019  

The Huawei thing is significant and Trump absolutely cannot let the SM go down. Too much of the economy depends on it being strong from now until eternity.

That being said, if we start to see continued weakness in rates, it’s probably a good bet that there’s something else besides China going on – or several something elses. The USD strength continues to puzzle me.

Next week probably will be quite telling.

The interview

Posted by Ororeef @ 16:56 on August 17, 2019  

highlights the problem in the BOND Markets which is more important at this juncture  than the Stock Market  because its bigger than the Stock Market ..Gold is yielding MORE than many Sovereign Bonds..,I ask what happens when GOLD YIELDS more than the Treasury bonds ?  When they yield less than GOLD ..its all over !   BONDS are worth ZERO without a YIELD  .YEARS ago I bought “ZERO COUPON BONDS” when interest rates were 18 % ..I bought them for $150.00 per $1000 Bond.After Paul Volker ended  his rate rise as Yield fell and I sold my Bonds for $1300 .00 each…Very nice …thank you Volker …Now we have the opposite  !   Gold Yields more than BONDS   and I BUY GOLD very Cheap instead of Bonds and I expect probably a 10X return on it…

BUT along with the destruction of Bonds means the destruction of DEBT public & Private ….thats going to be Painfull  .ITS the DESTRUCTION of CREDIT  ! you pay CASH  !  for your needs….NO credit Cards !CASH will be KING and GOLD its Master   .When people cant make car payments the Price will plummet from 40,000 to $4000…….for the cash buyer !

One of the BEST realistic interviews

Posted by Ororeef @ 16:33 on August 17, 2019  

Rick Rule: Broadcast Interview – Available Now

Buygold–Yes! I think that. Huawei reprieve is significant

Posted by Richard640 @ 16:29 on August 17, 2019  

Trump sees that if he doesn’t lighten up on China our stock mkt could crash

Global finance now suffers from irreparable structural impairment. Economies across the globe are deeply maladjusted. Global imbalances are unprecedented. The trajectory of geopolitical strife is frightening.

Posted by Richard640 @ 16:27 on August 17, 2019  

 

GOT GOLD?

But I’ve never wavered from the view that this would end badly. Never have I believed that manipulating and distorting markets would achieve anything but epic Bubbles and inevitable terrible hardship. I’ve not seen evidence to counter the view that the longer the global Bubble inflates the greater the downside risk (moreover, such risk grows exponentially over time). And not for one minute did I believe zero rates and QE would resolve deep financial and economic structural issues. Indeed, I have fully expected reckless monetary mismanagement to ensure a global crisis much beyond 2008. From my analytical perspective, the global Bubble has followed the worst-case scenario.

It sounds archaic, but sound money and Credit are fundamental to sound financial systems, sound economic structure, cohesive societies and a stable geopolitical backdrop. The most unsound “money” in human history comes with dire consequences. Global finance now suffers from irreparable structural impairment. Economies across the globe are deeply maladjusted. Global imbalances are unprecedented. The trajectory of geopolitical strife is frightening.

Meanwhile, central banks are locked in flawed inflationist doctrine. Their experiment is failing, yet in failure they will resort to only more reckless market manipulation and monetary inflation. This analysis is corroborated both by collapsing sovereign yields and a surging gold price. The clear and present risk is of an abrupt globalized market dislocation, financial crisis and resulting economic and geopolitical instability. It may sound like crazy talk, except for the fact that such a scenario is alarmingly consistent with signals now blaring from global bond markets.

http://creditbubblebulletin.blogspot.com/2019/08/weekly-commentary-comeuppance.html

R6 – Got ya, my bad

Posted by Buygold @ 13:16 on August 17, 2019  

I definitely agree that if the SM starts to bounce we’ll see a rise in rates.

Trump is toning down his China tariff rhetoric, that will get the algo’s buying the SM, unfortunately, probably won’t be good for pm’s.

Another sign Trump is playing nice:

Trump Grants Huawei 90 Day Reprieve To Buy From American Suppliers

On Friday Trump made another unexpected concession toward China when the Commerce Department announced it would extend a reprieve given to Huawei allowing it to buy supplies from U.S. companies so that it can service existing customers.

$djuspm GOLD miners index shows double top (correction )

Posted by Ororeef @ 12:50 on August 17, 2019  

djuspm-miners-index2

What’s driving mortgage rates today?

Posted by Richard640 @ 12:37 on August 17, 2019  
The Mortgage Reports Editor
August 16, 2019 – 12 min read

What’s driving mortgage rates today?

Average mortgage rates fell moderately again yesterday. They’re now back to their Aug. 7 level, which was the lowest in nearly three years. Indeed, they’re not too far off their 2012 all-time low.

However, that happy picture may not last long. Because, first thing this morning, markets looked set for a better day from most people’s point of view. And that means a worse day for those who want lower mortgage rates.

So mortgage rates today look likely to rise. But that’s based on the assumption those rates will follow other key markets in the normal way. And, as always, events might yet overtake that prediction.

 

Buygold–yes, buying TBF means one expects rates to rise…

Posted by Richard640 @ 12:27 on August 17, 2019  

Treefrog

Posted by goldielocks @ 12:22 on August 17, 2019  

Guessing it was that party that killed all those people. Woodstock going on one place a hurricane another. There’s not too many things I’d move away from but a hurricane would be one of them. In a quake if you survive you can at least gather supplies. In a hurricane u can’t even do that. They should of had a inflatable boat or a couple of them if they were gonna stay.

Buygold–this 20 chart study argues in favor of stocks bouncing-a good run would cause rates to rise

Posted by Richard640 @ 12:21 on August 17, 2019  

Courtesy of “Milano” on Wollies blog=

The 34 ma weekly on track, the 34 ma daily does its job.

http://www.traderscrossover.com/store/index.php?p=intra

The 34 ma weekly still on track

Dow.

August 15

Another bounce  in the making.

Buygold–TBF is not a. high confidence trade-in. fact, I cannot. imagine what would cause rates to rise

Posted by Richard640 @ 12:12 on August 17, 2019  

Allz I know is that back in 2018 the likes of Gundlach. and PIMCO and just. about every other firm/analyst  were pounding the table that the 38 year bond bull. market had definitely ended…now everyone is. on the other side=rates going to zero…the. low confidence/just can’t imagine trades are often good ones to make…one problem I have is that I have profits…and a. trader always has to piss away his. profits…so, the most contrary trade on the planet looks worth a try…rates use to move in glacial increments but we just. saw rates plummet in A WEEKS TIME…so 4 months on my. Dec calls and & 7 months on my March calls would allow for a good move…Peter Tchir. is a top analyst–I saw him on Bloomberg Friday=

U.S. 10-Year Yields Could Pop Up to 2% In a Snap: Tchir (Radio)

August 12, 2019 — 12:20 PM EDT

 

The way forward

Posted by Ororeef @ 11:06 on August 17, 2019  

is for all well managed Gold &Silver entities to seek inclusion in the S&P500 .That way those that finagle their way into positions of Power(the gate keepers) cant exclude you .If you in the index they have to buy you..Once your in thats a big support base for your stock price ,from there you can buy assets from those excluded at a cheap price…..

R6 – or…

Posted by Buygold @ 10:38 on August 17, 2019  

am I misunderstanding the TBF  play and you are expecting rates to rise and treasuries to sell off?

Could happen short term if China threatens to pull the plug.

R6

Posted by Buygold @ 10:05 on August 17, 2019  

Since you are long TBF (shorting 20 yr Treasuries) where do you see the 10 & 30 yr. rates headed by December?

And, what’s your take on the USD? The paper pig that never goes down….

August 17th

Posted by treefrog @ 9:56 on August 17, 2019  

Fifty years ago today, Camille, a category 5 hurricane hit the Mississippi coast. A friend of mine was invited to a hurricane party in Biloxi. He hitch-hiked over there from Tallahassee a couple days in advance. No one ever heard from him again.

aggressive monetary stimulus has bolstered the view within the risk markets that the bottomless central bank punchbowl will keep the party rocking

Posted by Richard640 @ 9:25 on August 17, 2019  
I have argued post-crisis monetary stimulus unleashed a historic global Bubble in “financial assets” more generally, a “global government finance Bubble” that fueled hyperinflation in prices for stocks, bonds, structured finance, real estate, private businesses, collectibles, and so on around the world. The word “Bubble” has not been overused and debased, as much as the overuse of central bank and government Credit has worked to debase “money” more generally.

Authers also states: “But if we treat it rigorously, the bubble concept is still vital in navigating financial markets.” The problem is markets love Bubbles – jump aboard and make easy “money.” And for the past decade central banks have incentivized speculation and speculative leverage across assets classes and around the world.

Bubble Analysis is vital for both navigating markets and for policymaking. For a decade now, speculators have been playing Bubbles, while central bankers have been denying their existence. Global bond markets have become convinced the Bubble is faltering, with the expectation that central banks have no alternative than to drive rates even lower while monetizing further Trillions of government bonds (throwing in some corporate debt and even equities for good measure). This expectation of additional aggressive monetary stimulus has bolstered the view within the risk markets that the bottomless central bank punchbowl will keep the party rocking.  

http://creditbubblebulletin.blogspot.com/2019/08/weekly-commentary-comeuppance.html

A quote from Sean Broderick (Weiss Reports) August 12 , in support of gold investments

Posted by Alex Valdor @ 8:51 on August 17, 2019  

Quote:

Buy or Die

A conversation I had with a fund manager in Europe was quite revealing …

This fellow — let’s call him Franz — told me that as European governments rolled out negative-yielding debt, Franz’s fund stopped buying bonds. He preferred to keep more cash on the books rather than buy a bond that would cost him to own it over the next 10, 20 or even 30 years.

That’s when the regulators called. “Why aren’t you buying bonds?” they asked.

“There’s no yield in new bonds,” he replied.

“Part of the mandate of your fund is to own government bonds,” the regulators told him. “Either buy the bonds, or we’ll shut you down.”

So that’s who is buying these bonds. Funds that are forced to buy them … OR ELSE.

Unquote

It has the feel that a decade of egregious monetary inflation and speculative Bubbles is about to get Some Comeuppance.

Posted by Richard640 @ 6:35 on August 17, 2019  

It’s been a full decade of government and central bank backstops, with the “Trump put” a relatively late addition. It sure appears the Trump, central bank and Beijing “puts” have lost some potency. And in about a month we’ll have a better read on the “Fed put.” It’s a reasonable bet the stock market will go into the September 18th FOMC meeting with a gun to its head: “50 bps or we’ll shoot!”

Much can happen in a month – especially at the current mercurial clip of developments. But the Fed will be in a really tough spot. Don’t give the market 50 bps and ultra-dovish commentary and risk getting hit with a heated market tantrum. Give markets what they demand and risk a “sell the news” response and a critical change in market sentiment. It has the feel that a decade of egregious monetary inflation and speculative Bubbles is about to get Some Comeuppance.  

http://creditbubblebulletin.blogspot.com/2019/08/weekly-commentary-comeuppance.html

U.S. 10-Year Yields Could Pop Up to 2% In a Snap: Tchir (Radio)

Posted by Richard640 @ 5:48 on August 17, 2019  

August 12, 2019 — 12:20 PM EDT

https://www.bloomberg.com/news/audio/2019-08-12/u-s-10-year-yields-could-pop-up-to-2-in-a-snap-tchir-radio

Star Train

Posted by Maya @ 3:29 on August 17, 2019  

rrflasher-copy

Galaxy, clear and approach
https://railpictures.net/photo/706611

 

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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.