Short term trades in the stock market •$$$$$•

[Dudesome]

An idea of digital gold standard is something that has been spinning in my mind for a couple of months now.

In that case you will not need to divide your gold physically. Your gold can be stored in an allocated account where it's not any company's (or bank's) asset.

Say like buying a new Toyota for like 0.5 oz of gold digitally with a type of Master Card that has a gold on it instead of $?

Instead of the term Cash we would get the term Physical. But that would only come in play with big purchases where the metal won't have to be divided physically.

 

[Dudesome]

An oz of highgrade OG kush would go for like 0.01 oz of gold maybe even 0.001

 

[SpasticGramps]

Well, if we do go to a gold standard the price per oz will be high making small transactions (like you stated) into the thousandths decimal place. That's a difficult pricing structure for small transactions IMO. Say you want a coke out of the machine under a digital gold standard?

That's why there is typically (cyclically at least) paper currency backed by a metal standard. I'm not personally a fan of digital currencies. If anything ever happened all you would have is a plastic card. What if the lights go out in the city for a few days or weeks for whatever reason (hurricane)? People need a physical item in which they can exchange for goods and services.

I think the reality is any place of storage for assets essentially is a "bank" because you are trusting said person/company with your assets. The modern concept derives from the Knights Templar protecting the valuable's of pilgrims.

Wiki

By 1150, the Order's original mission of guarding pilgrims had changed into a mission of guarding their valuables through an innovative way of issuing letters of credit, an early precursor of modern banking. Pilgrims would visit a Templar house in their home country, depositing their deeds and valuables. The Templars would then give them a letter which would describe their holdings. Modern scholars have stated that the letters were encrypted with a cipher alphabet based on a Maltese Cross; however there is some disagreement on this, and it is possible that the code system was introduced later, and not something used by the medieval Templars themselves.[5][6][7] While traveling, the pilgrims could present the letter to other Templars along the way, to "withdraw" funds from their account. This kept the pilgrims safe since they were not carrying valuables, and further increased the power of the Templars.

Those who hold the booty (physical) have the power.

 

[Dudesome]

For what I know those were the Templars who evolved to what we know today the power "behind the curtains". Makes perfect sense.

The way most conspiracy theorists see it:
Egyptians>Templars>Masons>NWO>Investment Banks and FED(300 families of America)

 

[Dudesome]

Also, Gramps. One more reason for me to go against digital currency would be the privacy issue.


As for the future currency: After the PAGE(Pan Asian Gold Exchange) will be launched June of 2012 I strongly believe that yuan will become world's currency #1. That is due to the fact that all the gold(in top 5 of most traded commodities in the world) will be sold in Yuan most probably. That's because Comex and NYGE supress the prices so much.
The only question arises is wether China will want to support their currency with anything physical(like gold???).

 

[VanVulpen]

Sir Mervyn King the Governor of the Bank of England: “This is the most serious financial crisis we’ve seen, at least since the 1930s, if not ever. We’re having to deal with very unusual circumstances, but to act calmly to this and to do the right thing.”

http://www.telegraph.co.uk/finance/...in-history-Bank-of-England-Governor-says.html

 

[Sam the Caveman]

The technicals on the S&P are signaling downside next week, we are pushing up against a downward trend line of resistance and we just recently broke down below the 1100 support level.

I'm guessing by the end of next week we will be well below 1100 on the S&P.

 

[SpasticGramps]

I think we will break resistance too minus another "Europe is saved!" article.

A coordinated EU bailout of the European banks is off the table now. Germany said it will bail out it's own banks and everyone else can piss off.

France wants the coordinated bailout because their banks are shittier than Germany's and want the free ride. So looks like it's going to be everyone for themselves. Market's probably not going to like that.

Spain and Italy were downgraded today. Belgium was put on notice due to Dexia failing.

 

[Dudesome]

awesome times

 

[Jenn]

This is a good thread, better than the norm.

I have a Scottrade account and run my own portfolio, it has been beyond a turbulent market to say the least.

Who likes watching Mad Money? Cramer is crazy

 

[The iD]

A Much Deserved Blast From The Past[zh]

nearly peed myself laughing out loud. never saw this one before. "Cwazy amewicans!" circa '09. stay frosty,

-iD

 

[SpasticGramps]

"You broke my sledgehammer you motherfucker!" LOL. I watched that clip a couple times today.

Go WallStreetPro! Green shoots!

 

[Dudesome]

geeez that dude is intense... he's right tho. I kinda feel his rage haha

Btw wtf.. .he's using all that room for what? entertainment? use that space for them GREEEN SHOOTS, know what I mean

 

[InJoy]

This thread is kind of a joke.

Most of you guys seem intelligent...in a way some of you are but those guys are also fucking somebody in the process of gettin their piece of the pie.


The stock exchange is nothing more than a giant ponzi scheme.

When the guy's selling these stocks makes money when you make money, when you lose money, when you move money from one stock to another they make money.

They always make money and are never at risk, but you are always at risk and often lose, digits and graphs ascending and descending infinately so your constantly shuffling around scrambling for the next trend or escaping the latest fail.

The ones who sell the stocks are smart...

They are also the problem, parasites, feeding off the earnings of hard working people who are dumb enough to follow you, but far more disturbing is somehow they've been able to compromise pension funds social security system of people who never believed in this ponzi scheme but have seemingly lost everything along side everybody else.


If you have a portfolio sell it and take one last hit.


If you've been brokering...suicide is the best option...


The dude that wants to digitize gold... great idea they won't need to print more paper...yea we save some trees.

Now they just add more digits.

Anybody who buys virtual gold deserves to get fucked.

Some are smart enough to get the physical stuff, but as has been pointed out, this will be hard to use, still better than cash in the bank or ground.

SELL ALL YOUR STOCKS NOW


THEY BECOME THE UNEMPLOYED
​

 

[TNTBudSticker]

"You broke my sledgehammer you motherfucker!" LOL. I watched that clip a couple times today.

Go WallStreetPro! Green shoots!

Funny stuff...I had a feeling that he was gonna break the light above him...and he did becuase he didn't break it in the other 2.Wayy funny stuff.Man.

He was complaining about Ford $100,000 bonus back in 2009 In One of the Episodes.

Guess what ? Most recent news // Begin Rant.

UAW got in to Fords profits and asked Ford to give over a $10,000 bonus per employee for it's profit sharing plan. What the heck?! So that means When I want to Buy a Ford I have to Fork over $10,000 just for a suprise party for an ford emplosion,I mean employee?

I think The Ford Investors Doesn't like that at all when profits belong someplace else like for more modern products via investors buying more stock and paying the right people to make and develop cool parts and maybe bring back the Boss Series again.UAW..go stick your nose someplace else.When employees get hurt..you fix the work related problem.That's Your job.Not asking for Profits and whatnot . End Rant :


Anyways..Back to Stocks.I still Bearish Silver and a bank but not BAC..It's C now since it's easier to short and time will tell about BAC.This week is Earnings week so maybe some oversold levels may happen thus creating a spike.Especially On a Hard day sell off.Another week of see-saw ?

Hanging around at the 400 level.

Rumor-Speculation has it that when Q3 is released.There may be some buying of gold and silver again thus making the gold bugs glitter.Maybe going down in gold,Silver until Q3 is released?
DTO was $64 and out at $69 I was In and Out at the end of the week.The prices now are the same as I bought in.I may start it again.It's at $66.00.

 

[SpasticGramps]

Party is over for Europe and the Euro. Dexia set to officially collapse on Sunday. Small countries are preparing to sink the Greece bailout. So much those rumors and lies.

"Dexia's Funeral Will Be Announced On Sunday" As "Weakest Link" Slovakia Prepares To Bury The Euro

A few days ago we mocked the market's naive belief that a loose union of 17 different countries and hundreds of separate political organizations, each torn by thousands of unique interests and lobby groups, can all agree unanimously in the pursuit of the common monetary (read: banker) good, over that of their own people. Yet that did not stop stocks from enacting the second weekly massive short covering squeeze, in 3 weeks, purely on hype, rumors, innuendo and lies. And just like the last time the market soared by nearly double digits in a few short days, only to plunge when hopes of a quick resolution were mercilessly dashed, Monday has all the makings of another epic risk off day. Because while all it takes is a rumor (of a plan for a plan) to start a squeeze, we are about to get some very nasty actual events which will demand immediate and forceful intervention by the powers that be, something which Europe (and the US) has proven is virtually impossible. The events in question are, as Reuters reports, that i) "Dexia's Funeral Will Be Announced On Sunday" and, as Bloomberg reports, that ii) Slovakia’s ruling Freedom and Solidarity party won’t back the overhaul of the European bailout mechanism after Prime Minister Iveta Radicova rejected the party’s conditions for approval, a lawmaker said. Said otherwise, bonds are currently thanking their lucky stars the bond market is closed because not only will Europe have to deal with the headline risk that the weakest link in Europe, the tiny country of Slovakia, can scuttle the entire second Greek rescue operation, and thus, lead to the expulsion of Greece from the eurozone following its bankruptcy, but this will have to take place as Europe fights the stem the contagion resulting from the collapse and nationalization of the first Greek bank, which nobody, nobody, could have foreseen.

For those who are still confused, here is what is going on:

The bailout plan that was proposed in July, and was supposed to be operational by the start of September, has still not been ratified, and now the smallest European country is holding the entire continent, its currency, and frankly the Fed, which will have to step in and bailout Europe, hostage.

In the meantime, the first actual core bank casuality is about to go 6 feet under, and unleash a falling house of cards of unpredictable consequences, which will likely make the "fear and loathing" chart presented previously double in a very short time.

And in this environment, where the decisionmakers in Europe are objectively about 2 years behind the curve, are paralyzed into inactivity and torn asunder by warring political parties, the market actually believes that some actual "solid" policy intervention can about to take place?

Greece runs out of money mid-November.

 

[Dudesome]

The dude that wants to digitize gold... great idea they won't need to print more paper...yea we save some trees.

Now they just add more digits.

dude that's exactly what they are doing right now. There is MUCH less paper in existance than those of 1001111011111001010101ed digits. that's thanks to the fractional reserve lending system.



as for stocks etc. Wtf man. Nobody here says investing into stocks. People here are just exploiting the situation to Trade for the Short term.

Profit from the shortterm to invest in longterm physical commodities is the mentality most of present people will take.

So just relax now.

Or..... go occupy wallstreet or whatever city you live in with the rest of them hot shots.

 

[SpasticGramps]

Setting up for another interesting week.

Belgium announced that it was nationalizing now defunct Dexia Bank. Our first systemic bank to fail in the new crisis. Call it domino #1. It's worth noting that Dexia CEO made ~$5 Million in 2009 and 2010 despite a ~$200 Billion Europe bailout and an American Federal Reserve bailout. And despite all this the bank has failed.

There is serious tension in Slvokia's ruling coalition for expanding the ESFS. I'm guessing that it still gets passed somehow.

Merkel and Sarkozy finished their crisis meetings today and guess what everybody? "Europe is SAVED!!" They announced, yet again, a grand plan to make a plan at a later date at which point the details of the plan would be announced.

"Planning To Plan" - Merkozy Reach Yet Another "Agreement", Adding "It Is Too Early To Enter Into Details"

No, the day is not August 7, 2011 when we had the first joint Merkozy statement attempting to prevent the latest and greatest round of the global financial crisis with nothing but pure rhetoric, in which however the word Dexia was strangely missing. The day is October 9, and yet we get another statement from the two, this time far more desperate. From Reuters: "We are very conscious that France and Germany have a particular responsibility for stabilizing the euro," Sarkozy said at a joint news conference with Chancellor Angela Merkel in Berlin. "We need to deliver a response that is sustainable and comprehensive. We have decided to provide this response by the end of the month because Europe must solve its problems by the G20 summit in Cannes." And the kicker: Merkozy "suggested that their proposals would include a plan for recapitalizing European banks, accelerating economic coordination in the euro zone and dealing with Greece's debt problems." In other words fix absolutely everything. But the punchline remains the same as always: Sarzkoy "added saying it was too early to enter into details." Ah yes, those ever elusive details, which nobody can ever provide, because, THEY SIMPLY DON'T EXIST, at least not in a universe in which 2 + 2 is still 4.

Yes, much to Europe's chagrin, a plan that in one swoop "recapitalizes European banks, accelerates economic coordination in the euro zone and deals with Greece's debt problems" which at the same time returns peace and prosperity, keeps the locals happy, and throws in the kitchen sink, sounds truly great on paper, but merely confirms to the markets that the ruling oligarchy is now completely out of bullets and the best they can do is jawbone with ever loftier promises that can never be kept.

It's those pesky details.

Another stick save short squeeze if the market buys it? I think equities certainly will, CDS not so much. Seems like a desperate ponzi pep talk to me. Risk on Monday?

Earnings season starts too. The ultimate lagging indicator.

This is all turning out to be a fine experiment of, How long can markets be propped up on rhetoric?

 

[Dudesome]

well I have to admit, they know how to make tighter knots

I am kind of glad though. The longer they try to push the coming, the more critical the coming will become. It also buys more time, if you know what I mean

 

[RetroGrow]

Damn! That end of day melt up got me again. Was up a couple thousand on my short positions @ 3:30, only to see half of it evaporate in the last 30 minutes. As it's going up, I am telling myself, "this can't last, has to pull back", but NOOOOOOO, it kept rising right into the close.
I don't know what all the good news is. I guess they are celebrating putting off the collapse one more day. But these short squeezes are so annoying.