Is the stock market going to tank?

[Hugh Conway]

the value of bitcoin or any additional future electronic currency will be decided by how many people are adversely affected by their government. i am cynical about the honesty/integrity and values of pols and the tycoons who influence them, so i think bitcoin has a good chance of a bright future.

If you are going to get all doomsday aren't precious metals a better choice esp with physical possession of said? Or any other portable valuable good e.g collectibles? It's history (well, and somewhat chinese kleptocrats now) but jewelry and paintings were very valuable in past governmental collapses (WW1, Russia, WW2, China, Vietnam, etc) because they could be easily transferred out of the country. Much more useful than some bits.

I'm much more cynical about unregulated markets that have been repeatedly hacked with no consequences.

[up an down]

If you are going to get all doomsday aren't precious metals a better choice esp with physical possession of said?

I'm much more cynical about unregulated markets that have been repeatedly hacked with no consequences.

not doomsday, just expecting another big drop ala 2008/2009, don't know when. but what drops first has to have risen, so trying to keep riding the bandwagon, i. e. keep stop loss orders in effect and raise them if bubble continues to inflate, and then jump off temporarily when orders are triggered. then probably another cycle up, and hope to jump back on.

physical possession limits your speed of reaction to events, and their are storage, possible theft, shipping, buy/sell spread hassles. no room for bullion in my micro house

i am probably at least as cynical as you re your second sentence, but we are forced to live here and now, so i try to keep financially paddling on the shit creek of life.

[4matic]

keep stop loss orders in effect

You can place contingency orders with Bitcoin?

[up an down]

You can place contingency orders with Bitcoin?

don't know, if i ever own any i may find out.

[Hugh Conway]

don't know, if i ever own any i may find out.

nows the time:
http://bitcoin.clarkmoody.com/widget/chart/

bit of a wild ride there....

[iceman]

I'm here to announce the release of Titcoins to the market. 20 million only will be issued. Please PM icemang for sales.

[4matic]

Gold down $200 in a week. Silver down $4. 1980 all over again.

[LeeLau]

nows the time:
http://bitcoin.clarkmoody.com/widget/chart/

bit of a wild ride there....

Hanging wasabi 4matic eatshit doji there with a fibopastadente reversal. STRONG BUY WITH SHORT TERM SELL WITH TIGHT STOPS

[4matic]

Hanging wasabi 4matic eatshit doji there with a fibopastadente reversal. STRONG BUY WITH SHORT TERM SELL WITH TIGHT STOPS

I'm not smart enough for fibopastadente. But, if $1400 doesn't hold and oil keeps falling, the TSX is gonna get it's commodity based ass kicked.

[liv2ski]

Gold down $200 in a week. Silver down $4. 1980 all over again.

Just makes me wonder when are treasuries going to 18% and the S&P to 108? As really, the way we are going, I can see both happening at some point.

[Schemeboat]

no bunker hunt for silver spot 4matic.

[4matic]

no bunker hunt for silver spot 4matic.

I played that game and lost in 1980.

Gold was down almost $150 at one point today. The biggest difference now is there is no limit on gold and silver contracts. It works both ways as no limit makes it harder for traders to lock the market and has mitigated volatility for years. The bad thing is, there is no limit... With COMEX margin calls and GLD forced selling a bottom may be elusive.

[Benny Profane]

Just makes me wonder when are treasuries going to 18% and the S&P to 108? As really, the way we are going, I can see both happening at some point.

Wait, what? Your Zero Hedge is showing. Don't you see how solid, dividend paying US equities are becoming the new safe haven?

[Schemeboat]

With COMEX margin calls and GLD forced selling a bottom may be elusive.

things look VERY elusive.

especially here in vancanada.

Attachment 136550
2 yr - TSX Gold Index vs S&p500

Attachment 136551
2 yr - TSX Gold Index vs. NASDAQ

Attachment 136552
2 yr - TSX Gold Index vs. US Broker-Dealer Index (XBD)

[liv2ski]

Wait, what? Your Zero Hedge is showing. Don't you see how solid, dividend paying US equities are becoming the new safe haven?

Speaking of ZH:

"The rapidity of gold's drop is impressive, concerning, and disorderly. We have seen two other such instances of disorderly 'hurried' selling in the last five years. In July 2008, gold quickly dropped 21% - seemingly pre-empting the Lehman debacle and the collapse of the western banking system. In September 2011, gold fell 20% in a short period - as Europe's risks exploded and stocks slumped prompting a globally co-ordinated central bank intervention the likes of which we have not seen before. Given the almost-record-breaking drop in gold in the last few days, we wonder what is coming?"

Things that make me go hmmmm?????

[Benny Profane]

Again, your ZH is showing. They would love to see a collapse. It's 24/7 Armageddon over there. Now that their precious gold is evaporating into thin air, and the margin calls are coming in fast and furious, they want everyone else to suffer. Nope. Market may be correcting, but, we're due for a little.

[4matic]

It's just the paper gold price falling. Physical gold still has strong demand.

[BDKeg]

It's just the paper gold price falling. Physical gold still has strong demand.

^^^ this...same with silver i suspect? Didn't COMEX inventories on gold fall by a huge amount just recently?

http://silverdoctors.com/10-of-us-an...ust-vaporized/ <-- is this true they produce 16% of the US's annual silver production? All those silver sites are hyped it seems.

Maybe I'm just clueless, but shouldn't all this QE and money printing going on make the dollar less valuable and other alternate/rare currencies like precious metals go up in price?

[4matic]

Maybe I'm just clueless, but shouldn't all this QE and money printing going on make the dollar less valuable and other alternate/rare currencies like precious metals go up in price?

Only if the market says so. Another myth is the cost of production will hold the price. Prices can fall well below the perceived price of production without even blinking and for long periods of time.

[BDKeg]

Speaking of ZH:

"The rapidity of gold's drop is impressive, concerning, and disorderly. We have seen two other such instances of disorderly 'hurried' selling in the last five years. In July 2008, gold quickly dropped 21% - seemingly pre-empting the Lehman debacle and the collapse of the western banking system. In September 2011, gold fell 20% in a short period - as Europe's risks exploded and stocks slumped prompting a globally co-ordinated central bank intervention the likes of which we have not seen before. Given the almost-record-breaking drop in gold in the last few days, we wonder what is coming?"

Things that make me go hmmmm?????

ZH is all doom and gloom all the time, but it does make you wonder a bit.

[ArmadaBC]

It's just the paper gold price falling. Physical gold still has strong demand.

As far as I can tell there is no change in the physical market, this isn't some panic but unwinding of long positions to cover other bad bets on Forex. Traders got to cover margin calls and hikes, its a response to modern trading strategies but there does seem to be a gold bubble in general.......

[4matic]

Gold down $30 tonight. Silver is getting absolutely hammered again; down another $1.25. The good news is oil is also getting smashed. Down to $86.

[DasBlunt]

John Paulson lost 1 Billion today on gold. Ouch.

http://www.bloomberg.com/news/2013-0...rt-of-day.html

[philth]

John Paulson lost 1 Billion today on gold. Ouch.

http://www.bloomberg.com/news/2013-0...rt-of-day.html

That should about finish off that one trick pony.

[LeeLau]

That should about finish off that one trick pony.

Ouch. Might feel that even through the padded wallet.

Although he's still in the money iirc