Dear CIGAs,
As a follow up from yesterday’s A Weekend’s Heads Up , my thoughts were truly an understatement for today’s action! The open was far weaker than I had anticipated, down 1,089 points. This was the biggest point drop in Dow history. The volatility was out of control with the VIX trading to 53, the highest since Feb. 2009! An illustration of how much and how fast the volatility was, total point movement in the first 90 minutes was 3,000 Dow points, 4,900 total for the day! Truly incredible!
So where do we go from here? Unless we get some sort of central bank news out of China, we open down again tomorrow and see if they can get a reversal going. We are well over sold and due a bounce …but ALL crashes have occurred from oversold readings. While talking to Jim after the close, he initially said “the PPT got their ass kicked today, it would not have happened if I was running their desk”. Let me explain this because it is SO IMPORTANT. MORE…
Bill,
If any one has an ounce of confidence after this, they have no brain and can not think for theirself.
The curtain has been pulled completely back on the crime in proces (aka Ponzi scheme) !!!
yes Farrell, but many don’t “want” to see it.
Question for everyone….
What is real…a greenback or a gold eagle.
Not a trick question but a simple fact.
The Ponzi is struggling to stay afloat.
Everything I own other than my silver or gold is tied to the word CONFIDENCE.
The only confidence I have is in my silver and gold.
This is the time to bet on something real.
Another great piece Bill.
Keep them coming.
The markets are playing out exactly as I’ve called it.
I said buy the dips and sell the rips intraday and sure enough it came to fruition. You gotta read charts and technicals. I also have my cans of beans too. Yet the best thing to happen would be the rapture – getting beamed up in less than a nanosecond. I wonder what life would be like without College Football (CF) since I’m a CF addict. I think God likes CF, it’s something I want to ask Him and have a conversation about. Tailgating is good too, I’ll miss that for sure. Central Banks keep propping up markets and the dog has to go take a pee. There’s alot going on.
I guess some are about to get the shock of their lives. And I don’t care ONE bit if I’m one of them. The cause, I guess… Thanks to all. For what it’s worth.
The Fed is showing everyone who the big boss is.
The Fed has unlimited electronic digital dollars at the push of a button. They can plug any hole anywhere anytime.
I dare someone to prove or show how much electronic digital dollars are out there in the world. You can’t. The Fed can monetize every U.S. Treasury Bond/Note and no one would know because not one of us is privvy to that info. The Fed tells us only what they want to put out there.
He who has unlimited dollars, controls the markets, controls the world…..The Fed. There is no closure of the markets coming….no basis for making comments of this kind.
It looks like huge confidence came back into the stock markets, meanwhile silver remains floating in the sewer after getting flushed,. And just prior, Jim Sinclair is quoted by Greg Hunter as saying silver will be gold on steroids.
A 3rd explosion at a port in China.
Waiting for the next move but by whom and what?
So China took their new U.S. Dollars and went into the FX market and sold Dollars to by their own Yuan (RNB).
The FX Market bought up those U.S. Dollars….where is the colossal negative impact in the Dollar?
There is none….just new different holders of U.S. Dollars.
Bill….It’s been reported that Gold paper futures contracts to the same physical gold per contract is now over 200 to 1.
Can it go to 500 to 1, 1000 to 1, as much as they want it with no end?
Does the COMEX blink first under the pressure and close and paper settle in cash which is Force Majeure? or just paper settle contracts in cash without closing?