April Fools Joke?

[Captain3D]

Looking at the chart you would think there would be some good news in those headlines. Looks like time to buy more gold...phil

[FRED]

Re: April Fools Joke?

Looking at the chart you would think there would be some good news in those headlines. Looks like time to buy more gold...phil

Massive new Gosbank USA formed, market soars

April 1, 2008 - iTulip

Today the GSEs Fannie Mae and Freddie Mac merged with the Federal Reserve Bank, the US Treasury Department, Goldman Sachs, Citigroup and JP Morgan Chase to form Gosbank USA. The DJIA rose 280 points on the news.

Capping a year of crisis in the credit markets and global financial system that led to the nationalization of banks in Europe and England, the US today consolidated and merged ownership of the nation’s largest banks under co-chairmen former Federal Reserve Chairman Ben Bernanke and former Treasury Secretary and ex-head of investment banking giant Goldman Sachs Henry Paulson.

“We made lemons out of lemon-aid and turned a terrible crisis for the US economy and the American people into a golden opportunity to expand the power and reach of the State,” said Paulson in a speech made today from the new headquarters of Gosbank USA on Wall Street, the new administrative center for several recently created US government planning authorities, including Gosfin USA, the State Central Financial Regulatory Authority, and Gosrec USA, the State Central Housing Reconstruction Authority. more...

[Guest]

Re: April Fools Joke?

Looking at the chart you would think there would be some good news in those headlines. Looks like time to buy more gold...phil

Very poor time to buy more gold IMO Captain3D -

We are likely in the early to mid stages of a largish decline in gold and the PM's - gold down to 730 or 750, so having raised a significant amount of cash two weeks ago would have been more appropriate, for lowering one's cost basis by buying lots more on the worst dips in the next six months.

Gold may be a "negative benefit" investment for the next six to ten months! This kind of nasty volatility is how it efficiently shakes off all it's recent adherents, every time. Some of the people that loaded up on gold this past six months may well be sellers into this emerging new downdraft.

Stock market up big time - six month powerful uptrend potential - just around the corner.

[Captain3D]

Re: April Fools Joke?

Thanks Lukester

Its certainly interesting trying to keep my portfolio balanced between what might go up and what might go down. I will be happy to stay somewhat even through all of this.

phil

[BiscayneSunrise]

Re: April Fools Joke?

Agreed. The equity bulls are in charge now.

Greg

[Guest]

Re: April Fools Joke?

Captain3D - another way to look at it would be, "great buying opportunity up ahead for gold and silver"! Buy the PM's with both hands and a shovel, at the depths of sentiment for the metals, in the next few months, rather than daringly ride this stock market up for six months.

Catch the next gold boom on the "weak and wobbly" back foot. That's got to be the safest way to play the second half of '08 and going into '09. People who bought gold during the past blistering rally won't get as good a run-up as we can get now, buying the depths of this pull back instead.

[FRED]

Re: April Fools Joke?

Agreed. The equity bulls are in charge now.

Greg

Yes indeed they got global central banks back on their side.

"Don't fight the Fed?" Forget that.

Don't fight Global Central Banks.

Until they fail, too, of course.

[Mega]

Re: April Fools Joke?

No "MAD MAX" then ????????
Oh BUGGER!
Mike

[Captain3D]

Re: April Fools Joke?

Captain3D - another way to look at it would be, "great buying opportunity up ahead for gold and silver"!

hmm yes but that would mean I should sell what I have now and hope for a bigger drop. Im not that good at timing clearly ;-)

Maybe I sell half and see what happens.

phil

[Guest]

Re: April Fools Joke?

Miker -

Waiting for financial or economic Armageddon has historically been a dismally lackluster strategy. It simply does not pay most of the time. Your longsuffering anticipation of an almighty global crash has a very good chance instead of being within days of a blistering stock boom - a year long blistering stock boom, potentially to be a good runner-up to the massive boom up off the 2002-2003 stock bear market lows.

In which case Ty Andros got it right all along - "firehoses of liquidity" leading to "crackup boom" was what was in the cards all along (Grapejelly called for that over here I believe). Tough act for the Bear! And of course extra tough act for the Mish's and Ackerman's to accomodate within their "dismally deflationary theoretical framework", although I'm sure they would find a way in that event!


bear-1.jpg

[touchring]

Re: April Fools Joke?

Stock market up big time - six month powerful uptrend potential - just around the corner.

All the way to 15,000? :confused:

[BiscayneSunrise]

Re: April Fools Joke?

And just not a rally but a sector rotation, as well. Out of metals, ag., etc and into finance, tech, cyclicals. Might be a pretty good run, that is, as Fred points out, until this most recent infusion of hope fizzles out as well.

Greg

[touchring]

Re: April Fools Joke?

Sounds right, but i think this is a dangerous rally.

We're buying in when the economy is only starting to fall. And don't forget Europe and Asia is slowing down also, and when that happens US exports will weaken.

Americans should not think that the rest of the world is booming and will continue to increase their imports of US manufactured goods - that was the case before March. Now no longer. The emerging bubble has burst or is about to burst.

And just not a rally but a sector rotation, as well. Out of metals, ag., etc and into finance, tech, cyclicals. Might be a pretty good run, that is, as Fred points out, until this most recent infusion of hope fizzles out as well.

Greg