| To: penthouse mike who wrote (43021) | 1/2/2013 12:18:31 PM | | From: GROUND ZERO™ | | | | Looks like the gold buy signal might be rejected today... so, I dumped all my long gold and silver to book the profit and also took a light short in silver, but will cover if gold confirms...
GZ |
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| To: Joseph Silent who wrote (42899) | 1/2/2013 12:52:48 PM | | From: Joseph Silent | | | | I can say with some certainty now that we will see 1500+ in weeks or by March, though
I have no idea how we will get there. By that I mean we have to get past 1464 and 1475 first. So at one or at both places there is likely to be some kind of reaction.
Once we make a new high past 1475, the mid to high 1500s becomes a certainty.
Keeping my fingers and eyes crossed for good luck.
:) |
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| To: GROUND ZERO™ who wrote (43032) | 1/2/2013 1:36:23 PM | | From: FCom777 | | | | Today's price action formed a huge gap that will likely be filled at some point.
My guess is we close strong today toward the highs, trade up tomorrow morning and close tomorrow lower - starting the reaction to fill the gap at the low 1420's.
Think a lot really depends on the Pubs reaction to OVomit's claim that he has the authority to unilaterally raise the debt limit via Executive Order. If that's the case, then the sky is the limit ... gap or no gap.
I doubt that the legality of his contention is valid. That action would trump the House of Reps Power of the Purse - which would seem to be a fairly well established principle in American government.
Think the key question is still - Are these clowns in Congress actually working together to destroy the American middle class ? Are the party line positions simply for show to keep public opinion divided roughly 50/50 ? Or do they really mean their stated positions. Like I indicated in an earlier post, I was really surprised that we all didn't get the Royal Screw by having the House of Pubs vote against the Fiscal Cliff measure.
Taxes would have risen dramatically - costs cut at least a little bit - and we would have taken a reasonable step to close the budget deficit. And each "party" could have blamed the other ... so that neither party would be held accountable. |
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| To: GROUND ZERO™ who wrote (43009) | 1/2/2013 2:30:19 PM | | From: Brian Sullivan | | | | Well, Today the US tax code is finally a known quantity and in the final version it is very favorable to equity investments. For the ultra rich they now get a > 40% rate on earned income but only a 20% tax rate for capital gains or dividends. You can be sure that their future earnings will now shift into equities to generate income in these two areas.
I actually like the new Tax code a lot as it applies to investments.
Since I went to all cash last Friday, I had to buy back a lot of my positions today losing the 4% move since Friday, ouch!! |
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