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and the carnage continues...........

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kwagga
Super Contributor
This is truly an historical event of note. Something you will be telling your grandchildren about. Interesting to note how all the market commentators on Bloomberg are trying to talk this market up. A nation in denial is all I can say. The US treasury and the Bush government are out of their depth. The sooner the US consumer realize that they have been living a dream for decades based on piles of debt and Wall street feeding on that debt and the rest of the world subsidizing that debt the better for everyone. What we're seeing is the market running its course and no sandbag will stop the flooding till it's really over. The US government is a huge failure and I guess if this happened somewhere else in the world and influenced the US in the way its influencing world markets it would be termed financial terrorism. Wonder what bomb Wall Street is already plotting for us next.
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platsak
Super Contributor
What a great start to the weekend.
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KVW
Super Contributor
One day you pull back some losses and the next day you loose double what you made up, how do you make money in this market?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????
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the u s is giving hope signals so that its people with the money can bail out and bring liquidity back 2 the states everyone is in fear the recession word is being used freely not like last month it was the r word so every bounce is a short.omo
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Thanx heavens for my Satrix 40 short. Simon must be laughing all the way to the bank (sorry bad pun) with his lazy trading short on Satrix 40 for a couple of months now. I got in and out a bit more.
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Shard
Super Contributor
KVW, to answer your question, buy some gold and sit and wait. When the bomb drops people are going to hold onto it like their lives depended on it, the supply will dry up and I'm sure you're aware of the laws supply and demand and its affect on price. Just to clarify a point here too, I think some people are of the impression that gold bugs believe there will be a massive increase in demand for gold. I personally am not counting on that and I'm sure others will agree, I'm waiting for the supply to dry up so it can return to being a scarce resource, and valued as such.
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Shard
Super Contributor
You're right LN, and the sad thing about the US giving false hope is that its the average Joe thats going to lose out because they're not financially literate enough to understand whats going on. The recession is coming, they cant stop it, they should be doing damage control, not covering it up with propaganda.
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TOPSBR, or any other instrument for shorting the market. GLDSBA, but perhaps wait for a dip in the gold price before buying.
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if anyone is looking for some useful TA on the US markets, check our www.rebeltraders.net. Very useful blog providing a helpful sanity check for us technical traders.
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org
Super Contributor
This was accuratey predicted on www.gold-eagle.com, technical analysis section.also see rense.com
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barry_1
Super Contributor
TOPSBR is now 89 days to go ,i wish they would introduce another as well,sold out my GLD yesterday,damn,luckily kept my HAR and ANG!
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