How long till Burnwanker or the Obama?

[Curtman]

Glue sniffers up to bat. What will they do?

How long till Burnwanker or the Obama unit come out and concede defeat and flush the system with new money?
I just don’t see them taking there time. Obama said he has a new plan that he will unravel on us a week from Monday that is 7 days away.
The markets in asia are beginning to melt as I type,
Europe will no doubt follow and by Friday we could very easily see 9000 on the DOW,

Will he sit and watch?
Will he tell Burnwanker to do something and will he tell him to go fly a kite?
Will he go fly a kite?
Will Obama use his executive powers to print and distribute when the super Congress cannot make up their mind in time?
Will the Congress stall on any decision and risk their election bids in an effort to get the Obama to use his powers to print away?

I don’t see this week ending well and sorry to say the gold may not fare so well either.
No, shares may get some bids but I think we will see lots of blood this week. What say you?

[budfox]

I went out and bought some butt ointment if that helps...

[Curtman]

I went out and bought some butt ointment if that helps...

No I wouldn't have any use for that, one way street here.

[andial]

Australia is down 2 3/4 percent right now. If the week starts off real nasty I say something is done to turn it around. What can be done? All I can give is a wild ass guess, and that would be China helping out with some bond buying and currency moves. Let me repeat that is just a wild ass nothing more than me just posting guess.

[Curtman]

The only thing China is going to do is help China. They are shorting down the gold now and will buy it from Comex tomorrow.

[jogslvr]

Good opportunity to buy the miners if you play that game. I noticed Rio Tinto down almost 4%

[Curtman]

Good opportunity to buy the miners if you play that game. I noticed Rio Tinto down almost 4%

Yea I went long on two more Friday near the close. Aurico & Silvercorp. Got some on my shopping list tomorrow if they head down. I am a discount shopper.

[andial]

The only thing China is going to do is help China. They are shorting down the gold now and will buy it from Comex tomorrow.

They did say somthing in the beginning of the summer about helping Europe.
Article below.



http://www.guardian.co.uk/business/2...s-greek-crisis

China's "vital" interests are at stake if Europe cannot resolve its debt crisis, the Chinese foreign ministry said on Friday as it voiced concern about the economic problems of its biggest trading partner.

At a media briefing ahead of Chinese premier Wen Jiabao's visit to Europe next week, vice foreign minister Fu Ying made plain that China had tried to help Europe overcome its troubles by buying more European debt and encouraging bilateral trade.

"Whether the European economy can recover and whether some European economies can overcome their hardships and escape crisis, is vitally important for us," she said.

"China has consistently been quite concerned with the state of the European economy."

Wen is due to visit Hungary, Britain and Germany late next week, just months after he visited France, Portugal and Spain and offered to help Europe overcome its debt woes.

With Greece on the verge of a debt default, investors will focus on whether China promises to buy even more debt from beleaguered European nations including Greece, and increase its investment in the region.

China is a natural prospective investor in European assets and government debt because it has $3.05 trillion (£1.9tn) in foreign currency reserves, the world's largest.

With a quarter of the reserves estimated to be invested in euro-denominated assets, it is clearly in Beijing's interest to help Europe survive its debt turmoil.

"We have supported other countries, especially European countries, in their efforts to surmount the financial crisis," Fu said. "We have, for example, increased holdings of euro debt and promoted China-European Union trade."

Beijing has said in the past that it has bought Greek debt, but has never revealed the size of its investment.

Since eurozone debt worries first rippled through markets last year, China has repeatedly said that it has confidence in the single-currency region.

"We have hoped to help eurozone countries in overcoming the crisis, and this is also a measure that is beneficial to China's own economic development," Fu said.

But mirroring deteriorating market confidence on Europe, China's central bank published a report this week saying the economic bloc risked worsening its problems if it did not contain debt levels.

[andial]

Australia is down 2 3/4 percent right now. If the week starts off real nasty I say something is done to turn it around. What can be done? All I can give is a wild ass guess, and that would be China helping out with some bond buying and currency moves. Let me repeat that is just a wild ass nothing more than me just posting guess.

Nailed it!

Italy Said to Hold Talks with China About Investments





Italian officials have held talks with their Chinese counterparts about potential investments in the euro region’s third-largest economy, an Italian government official said.

The purchase of Italian bonds by China was not the focus of the talks, which took place in the past few weeks, the official said on condition of anonymity, without specifying which assets may be involved. A spokesman for Italian Finance Minister Giulio Tremonti declined to comment. News of the Chinese interest comes on the eve of a 7 billion-euro ($9.6 billion) bond sale.

Signs of contagion from the region’s sovereign debt crisis threatened to engulf Italy and pushed the country’s bond-yields to a euro-era record last month. Prime Minister Silvio Berlusconi’s government rushed through a 54 billion-euro austerity package to convince the European Central Bank to buy its debt. More than 60 billion euros of European bond purchases in the past five weeks has done little to shore up Italian debt.

The yield on the country’s 10-year bond rose 16 basis points to a five-week high 5.57 percent today, almost 4 percentage points more than the yield on comparable German debt.

A report in the Financial Times today that China would buy “significant” amounts of Italian government bonds helped U.S. stocks reverse losses in the last 90 minutes, as concern about Europe’s debt crisis eased. The Standard & Poor’s 500 Index rose 0.7 percent to 1,162.27 at the 4 p.m. close in New York.

http://www.bloomberg.com/news/2011-0...vestments.html

[Curtman]

They asked, the didn't get an answer. But great call...

[Eat Beef]

How long till they flush the system with new money?

2 minutes after I throw in the towel...

[andial]

How long till they flush the system with new money?

2 minutes after I throw in the towel...

Well get back in, It looks to me like the western banks found a sucker, I mean partner with lots of cash.

[Curtman]

How long till they flush the system with new money?

2 minutes after I throw in the towel...

This has been some pretty tough trading. I have been scarfing up my long positions in the miners last Friday and today. More tomorrow. Caught a falling knife today on Silvercorp. Down on it but just going to keep averaging lower till she holds, I think it is there now or pretty darn close. I want a huge position in that one now. Interesting situation there has them 23 million shares short. The miners get their footing and start up those guys are going to need a clean pair.

[Eat Beef]

I'm pretty much trading nothing but futures these days, Curt. Leverage is tough, you gotta get your entry pretty close to right. I've actually been doing OK, just taking a small bite and running. Sometimes you can take the same trade 3 or 4 times a day, but I've been just trying to make a paycheck and then turn it off, to keep from overtrading.

I'm looking at a short bond trade, hopefully via one of the leveraged ETFs as we spoke about before, I just don't see yields getting much lower...

[Curtman]

Thanks, When I come over for my steak dinner I am going to have to get some more education on the trading of futures. I just cannot get it.