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R.T.M. ~ chow-chow ~ on Munday ~ 8.16.10 ~ Gold hits 1225

Discussion in 'Coffee Shack (Daily News/Economy)' started by Argent Dragon, Aug 16, 2010.



  1. Argent Dragon

    Argent Dragon Site Support Site Mgr Site Supporter

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  2. Argent Dragon

    Argent Dragon Site Support Site Mgr Site Supporter

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  3. Argent Dragon

    Argent Dragon Site Support Site Mgr Site Supporter

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  4. Argent Dragon

    Argent Dragon Site Support Site Mgr Site Supporter

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  5. Irons

    Irons Deep Sixed Site Supporter Mother Lode

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    Nice start, think its going to retreat all day now??
     
  6. Argent Dragon

    Argent Dragon Site Support Site Mgr Site Supporter

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    Mornin' Irons, I would hope not but previous patterns suggest it's very likely. If I were betting, I'd say a target of $1210-$1215 is a good finish.

    :bear_tongue:
     
  7. Irons

    Irons Deep Sixed Site Supporter Mother Lode

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    Good Mornin Scaly, I would like to see silver hold at a decent price so's I can dump some W/O giving it away. Yeah I know, not holding my breath.
     
  8. Argent Dragon

    Argent Dragon Site Support Site Mgr Site Supporter

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    USD >> 82.34 : -0.58


    Dollar floating back down again.
     
  9. AMforPM

    AMforPM Gold Member Gold Chaser

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    They can only seem to push it much below 1200 at expiry to cover their shorts. Sinclair said a bunch of them went long last beat down at expiry.
     
  10. Zilver

    Zilver Gold Member Gold Chaser

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    TIC Data Confirms China Bond Sell Off Continues; Foreigners Dump Corporate Bonds And Stocks:36_2_36:
    Submitted by Tyler Durden on 08/16/2010 08:50 -0500
    http://www.zerohedge.com/article/tic-dat....

    Today's Treasury International Capital data had some unpleasant disclosures about the flow and size of international capital flows. The gross headline number of inflows was as expected higher, coming in at $44.4 billion, consisting of $33.9 billion in net foreign purchases of long-term securities ($16.6 billion purchases by private investors and 17.3 billion by official institutions), as well as $10.4 billion in sales of foreign securities by US individuals.

    This brought total foreign holdings of US securities to just over $4 trillion for the first time ever, or $4,009 billion. So far so good, however looking at the composition of purchases, it appears that foreigners were frontrunning the Fed already in June - they bought $33.3 billion in LT Treasuries, and $18.2 billion in agencies, precisely the categories that the Fed would be monetizing:bear_blink:, even as they sold $13.5 billion in corporate bonds (the highest amount since January 2010), and $4.1 billion in corporate stocks, the most since July 2008.

    What are foreigners seeing that all the mutual funds are also seeing (with 14 straight outflows from domestic equity funds), yet the HFT, Primary Dealer group is so stubbornly ignoring? Most importantly: Chinese Treasury holdings dropped to a 1 year+ low of $843.7 billion, following reductions in both long-term and short-term treasurys.:eek_ma: China now has almost $100 billion less in USTs compared to the peak of $940 billion in July 2009. One wonders what China is buying with the sale/maturity proceeds.

    Below is a chart of the monthly foreign flows by category: after foreign LT purchases surged to a gross record of $159 billion, this number has sine plunged to a mere $33.9 billion. Also note the accelerated selling in corporate stocks and bonds by foreigners.

    Charts at the link... http://www.zerohedge.com/article/ti...es-foreigners-dump-corporate-bonds-and-stocks
     
  11. Argent Dragon

    Argent Dragon Site Support Site Mgr Site Supporter

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    GM Completes IPO Paperwork, Filing Expected by Tues: Source
    ABC News - 29 minutes ago

    NEW YORK (Reuters) - General Motors Co has completed the paperwork for an initial public offering

    *Whew, I'm glad it wasn't unexpected.......that would set the markets off in a downward spin (sarcasm:off)
     

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