Hourly Action In Gold From Trader Dan

Jim Sinclair's Mindset ^ | 07/09/09 | Dan Norcini

[TigerLikesRooster]

Hourly Action In Gold From Trader Dan

/snip

After yesterday’s big rush to safety, the bond market promptly puked and gave it all back. This is exactly what I am referring to when I state that today’s markets are broken and that hedge fund lunacy is destroying their integrity. The wild price swings are indicative of ZERO analysis being done by human beings. Rather what we are seeing is the result of a dog walking its master on the leash. Computers are running our markets and that is what scares the hell out of me. How does a bunch of on and off circuits sit down and do a studied analysis of a market from a fundamental basis? Answer – it does not.

Now you can see why Goldman Sachs has its panties all in a bind about their little ol’ computer program… that is what investing has boiled down to these days – who can get their order in front of the next guy and get it to the exchange the fastest… As a long time speculator I used to be proud of my profession but I must say that this new breed of fund managers and their quant boxes disgust me because it feeds into the notion that we are nothing but a bunch of low-life parasites who produce nothing useful. At least we once did a lot of analysis and provided liquidity and served as a conduit for commercials looking to offload risk. We have now been reduced to a bunch of leeches sucking money out of the hands of those who actually still believe that the markets serve as a price discovery mechanism. Trading/Investing has morphed into a hopped up video game on steroids.

/snip

[TigerLikesRooster]

Ping!

[Calpernia]

Excellent read

ping for later

[John123]

today’s markets are broken and that hedge fund lunacy is destroying their integrity.

We must appoint a Market Czar to oversee this.... /s

[taxtruth]

The problem with the market is it is being manipulated by yours truly daily.Nothing is making sense and there is no truth in the numbers everyday.How can you value anything in the economy when it’s manipulated?I’m just holding on to gold and have dumped everything else.

[devane617]

Hedge funds impacted the market in a negative way long ago, and when those of us that recognized the problem started to complain—well, the SEC did exactly what you would expect them to do for the small investors—they turned their back and said, “I know nothing! I see nothing!” Ok, so it is now happening to the big boys. They are beginning to feed on their own and all out war between them is about to kick-off. When war happens, it is going to hurt all of us.

[Hostage]

And that’s to say nothing of hypothecation agreements that allow brokerage foxes to get inside the coop and eat the retail chicken.

Or naked short sales that hide out behind the DTCC with the SEC covering their back.

Or hedge fund secret banking loopholes for the big dogs only.

Best to stay away from the exchange casinos and invest in your own backyard; farms, ranches, rentals.

We are in a D-Process:

http://online.barrons.com/article/SB123396545910358867.html

and Ray talks ‘Cash is King’ and next year will be the buying opportunity of a lifetime. At least that’s somewhat optimistic.

But the real turnaround will come as poetic justice when passing HR 25 in 2013, exactly 100 years after the abomination of 1913.

[silverleaf]

ditto!

[ovrtaxt]

Same with me, but I’m a silver guy. And it’s physical silver by the way, the paper PM markets are the most rigged of all.

[dennisw]

excellent post

[ovrtaxt]

By the way, did you see this? Ted Butler thinks the gold/silver manipulation may be ended— http://www.investmentrarities.com/ted_butler_comentary07-06-09.shtml

[staytrue]

As a long time speculator I used to be proud of my profession but I must say that this new breed of fund managers and their quant boxes disgust me because it feeds into the notion that we are nothing but a bunch of low-life parasites who produce nothing useful. At least we once did a lot of analysis and provided liquidity and served as a conduit for commercials looking to offload risk. We have now been reduced to a bunch of leeches sucking money out of the hands of those who actually still believe that the markets serve as a price discovery mechanism. Trading/Investing has morphed into a hopped up video game on steroids.

As a long time trader, I agree with every word of this.

[razorback-bert]

Rather what we are seeing is the result of a dog walking its master on the leash.

Like that.

[PA Engineer]

Thanks for the link. I have watching the trading this week and pretty much figured the manipulators were at it again. Tarp money?

[ovrtaxt]

no, this has been going on for decades. It’s Goldman and Morgan, naked shorting paper contracts. They’ve been doing it forever, but the SEC and the CFTC hasn’t lefted a finger so far.

The thing is, Goldman and Morgan are just doing the Fed’s bidding. The last thing the international ‘fake money’ cartel wants is a strong gold price.

[PA Engineer]

I agree with you. I wrote: "pretty much figured the manipulators were at it again". IMHO Gold valuation is a closer then that of silver and is more of a hedge against the dollar once actual "inflation" adjustments are factored in to the fiat basis of our currency. I agree with the writer that silver has been significantly depressed and is more investment grade based on future valuations.

Do I hold both? Yes. Gold is the AR15 of investments. Silver is the Claymore and helps one sleep better at night.