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   Strategies & Market TrendsBuy and Sell Signals, and Other Market Perspectives


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To: Fintas who wrote (43076)1/3/2013 12:11:39 PM
From: GROUND ZERO™
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Individual credit card holders are not able to raise the limit like that... only the federal government could be so stupid and irresponsible...

GZ

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To: Kirk © who wrote (43077)1/3/2013 12:19:00 PM
From: penthouse mike
4 Recommendations   of 179618
 
The US Congress is no different than the Roman Senate Patronage system 2000 years ago. The elected officials need the support of the wealthy special interests to stay in office. Each member of Congress has a Chief of Staff who controls his calendar. If you are a big employer and employ an expensive lobbyist, they will meet with you early and often. If you represent an interest with little money or followers, then you will meet with the intern while the whale meets with the Congressman.

Every Congressman is a slave to his schedule which is set up by his minions to be full of special interest pleas. His only decision is to decide which special interests will get his support. The banks and big corporations control the lobbyists who are feeding the agenda to Congress, so nothing will change until campaign fund raising laws change.

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To: penthouse mike who wrote (43079)1/3/2013 1:06:44 PM
From: GROUND ZERO™
   of 179618
 
Excellent synopsis and very well stated...

GZ

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To: Kirk © who wrote (43077)1/3/2013 1:09:42 PM
From: GROUND ZERO™
   of 179618
 
I think there are a lot of shorts still holding out and hoping for a pull back so they could bail... but, I don't think the market is going to be so generous...

GZ

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To: GROUND ZERO™ who wrote (43081)1/3/2013 1:15:37 PM
From: Keith Feral
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If we get another good employment reading tomorrow, higher bond yields will keep pulling the marketr higher.

So far, the debate over the cliff has been a draw as far as the market is concerned. In December, it went from 13,400 back to 12,900 anticipating that a deal would not be done. Now, it's right back where it was in mid December.

If the employment number is bad, I guess we're due for a pullback. Considering 200K private jobs were added last month, I don't see how the jobs numbers disappoint this month. Construction jobs are starting to make a nice recovery.

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To: Keith Feral who wrote (43082)1/3/2013 1:30:28 PM
From: GROUND ZERO™
   of 179618
 
I agree... also, I'm long the U.S. Dollar as of this morning, and I also went short the gold today... gold now looks like it wants to make another leg down, so we'll see... I had a rejected buy signal for gold yesterday, and the gold market still hasn't recovered from that rejection...

GZ

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To: GROUND ZERO™ who wrote (43083)1/3/2013 1:46:52 PM
From: Keith Feral
   of 179618
 
Dollar looks good and gold looks bad right now. A good employment report should be bullish for the US dollar tomorrow, assuming the dollar stays on course with the higher direction of bond yields.

As of today, the monthly indicator for the dollar is just on the verge of triggering a buy signal for the first time since August.

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To: Keith Feral who wrote (43084)1/3/2013 1:51:43 PM
From: GROUND ZERO™
   of 179618
 
I suspect you'll soon see that buy signal for the dollar... and I also think the dollar is going to rally much higher than most people now believe... everyone is so bearish on the dollar, the short side of the dollar is probably one of the most crowded trades in a long time... the same for long gold, I think everyone is "expecting" gold to rally to 2100 this year... maybe it will, but not today...

GZ

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To: GROUND ZERO™ who wrote (43085)1/3/2013 2:04:53 PM
From: Keith Feral
1 Recommendation   of 179618
 
Gartman was blathering about being long gold in Yen. That seems like a better trade than being long gold in dollars, since the Yen has been blowing up the past month or so.

There has to be a bear market somewhere right now, so gold seems like the most likely candidate after 12 years of compounded gains. Same with oil for that matter.

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To: Kirk © who wrote (43077)1/3/2013 2:10:26 PM
From: phlegmish
3 Recommendations   of 179618
 
"It is so true. Funny... I watch Boardwalk Empire and 'Treme on HBO and what I take away from those two shows is the big money is from getting government to send tax dollars to your town for "disaster relief" or "building roads" or whatever... so you can siphon off more than actually goes to helping people"

Thats the absolute truth. I live in a suburb of New Orleans where the storm eyewall hit, and the best connected guy in town got a federal contract worth about $15 M putting blue tarps on damaged roofs. He subbed out the contract, pocketed about $14.5 M, and moved on to the next contract.
Bought a piece of property in our town, held it 45 minutes, then sold it to the Sherriffs department for a $750K profit.
His last deal that made local news was a fraudulent deal to rent helicopters for the BP cleanup--- he got caught this time, and may have to rake a few leaves in a federal prison (his words, not mine).
This stuff goes on all the time...with OUR money!!!

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