What I do know however is that what happens there, effects each and every one of us here via the price of energy. As usual, our inept politicians have failed for 50 years to implement an energy policy that supplied us with cheap fuel, while being able to export excesses of it for profit. Now once again, the price we pay weekly to "fill up" is dependant on tribes of rioting dissidents in far away places.
They won't let you on an airplane with nail clippers. They say that's fighting terrorism because somehow you might snip the poor pilots fingers off or some such nonsense. Yet we leave our most vital energy needs in the hands of lunatic fringe whacko's in far away places.
you know this "recovery" is as fake as most Hollywood boobs. The numbers are fake, the profits are accounting miracles, the states are bankrupt, etc etc. So what do we get on top of all that? Oil at a hundred bucks.
between our coal, nuclear and shoreside drilling we could be completely energy independent. But noooo, don't do something that basic while we wait for truly acceptable alternative energy. Nah.. let's just subjugate ourselves to people living in tents in some desert( Saudia Arabia), while abusing their people. Right. Makes perfect sense.
Look the Middle Easts problems are our problem too, in a big way. The reason, is that for years our "on the take" politicians took the payoffs to keep the status quo, instead of being pioneers and launching truly remarkable nuclear projects, drilling projects, etc. So we're beholden to what ever ends up happening over there. Isn't that just grand? Haven't our politicians done a swell job of looking after America first?
So, we've lost close to 300 points in two days. Now, what happens next? Do they shake this off and up we go? I think that what is probable is that we gap down at the open tomorrow, and then "boom" we get a nice rally higher that takes us green. But.. I do still think we're in pull down mode and even if we end tomorrow green, I think it's a one day event.
17 comments:
http://stockcharts.com/h-sc/ui?s=FAZ&p=D&yr=0&mn=3&dy=10&id=p32545522560&a=225847842
http://stockcharts.com/h-sc/ui?s=TZA&p=D&yr=0&mn=3&dy=10&id=p27137311982&a=225850654
http://stockcharts.com/h-sc/ui?s=GLD&p=60&yr=0&mn=2&dy=0&id=p60336605532&a=225471303
Reza - FAZ FP flashed 77
Abdullah
that means double from here
Abdullah
Lets stick to gold, silver and oil
Gold & Silver is way ahead of it self IMO. I will not add to what I have SLW, GDX. I do have very tight stop loss.
For OIL - yes I am all over it. picked up some SU last week and been doing great. UNG - should pick up some steam as oil march ahead.
I've had an awful lot of emails asking me about my thoughts on the Mid East and on what I invest in.
What I do know however is that what happens there, effects each and every one of us here via the price of energy. As usual, our inept politicians have failed for 50 years to implement an energy policy that supplied us with cheap fuel, while being able to export excesses of it for profit. Now once again, the price we pay weekly to "fill up" is dependant on tribes of rioting dissidents in far away places.
They won't let you on an airplane with nail clippers. They say that's fighting terrorism because somehow you might snip the poor pilots fingers off or some such nonsense. Yet we leave our most vital energy needs in the hands of lunatic fringe whacko's in far away places.
you know this "recovery" is as fake as most Hollywood boobs. The numbers are fake, the profits are accounting miracles, the states are bankrupt, etc etc. So what do we get on top of all that? Oil at a hundred bucks.
between our coal, nuclear and shoreside drilling we could be completely energy independent. But noooo, don't do something that basic while we wait for truly acceptable alternative energy. Nah.. let's just subjugate ourselves to people living in tents in some desert( Saudia Arabia), while abusing their people. Right. Makes perfect sense.
Look the Middle Easts problems are our problem too, in a big way. The reason, is that for years our "on the take" politicians took the payoffs to keep the status quo, instead of being pioneers and launching truly remarkable nuclear projects, drilling projects, etc. So we're beholden to what ever ends up happening over there. Isn't that just grand? Haven't our politicians done a swell job of looking after America first?
So, we've lost close to 300 points in two days. Now, what happens next? Do they shake this off and up we go? I think that what is probable is that we gap down at the open tomorrow, and then "boom" we get a nice rally higher that takes us green. But.. I do still think we're in pull down mode and even if we end tomorrow green, I think it's a one day event.
In ref to FAZ FP of 77:
2/23 close is 8.15 with the r/s price would be 40.75
2/24 I think FAZ MAY trade down around ~38
2/25 back up again and trade ~45
~ mid March I could see 77 for FAZ (Jay has mentioned 3/10-28 as a plunge)
Goldman Sachs sees nothing worth buying, may start selling
http://www.arabianmoney.net/gold-silver/2011/02/08/goldman-sachs-sees-nothing-worth-buying-may-start-selling/
Abdullah
NOT THE Chart at the TOP of the MAINPAGE- ITS BEEN UP THERE FOR EVERYONE TO READ for WEEKS
Specifically Mentions
MARCH 18th to 28th PLUNGE
as the PICTURE SHOWS
ENERGY psych reading calls for EXHAUSTION on MARCH 18th.
Jay
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