By John Galt November 30, 2011 – 09:00 ET No words are necessary to tell you what is happening next, so I thought I would let the 2008 charts speak for themselves. (Click to enlarge/reduce chart size) Sept 2008 S&P 500: Aug 2008-Dec 2008 S&P 500: Sept 2008 Gold: Notice the spike as gold rallied on the dollar swap liquidity announcement. Aug – Dec 2008 Gold:
By John Galt November 30, 2011 – 08:30 ET From the Federal Reserve website, Press Release on Monetary Policy release from September 18, 2008: Press Release Release Date: September 18, 2008 For release at 3:00 a.m. EDT Today, the Bank of Canada, the Bank of England, the European Central Bank (ECB), the Federal Reserve, the Bank of Japan, and the Swiss National Bank are announcing coordinated measures designed to address the continued elevated pressures in U.S. dollar short-term funding markets. These measures, together with other actions…
By John Galt November 28, 2011 – 16:20 ET Do you really need a “see I told you so” or would a wake the bleep up do? Ambrose Evans-Pritchard has penned a piece for tomorrow morning’s edition of the U.K. Telegraph which should either put you into Depends or force you to use Cyber-Monday to reinforce your supplies: Europe’s shrinking money supply flashes slump warning Personally, I do not think it is a warning. I think it is Lehmanesque capitulation. Got gold? Silver? Ammo? Read…
By John Galt November 28, 2011 – 07:20 ET After the latest rumor de jour was crushed by facts: IMF Denies Italian Bailout Package Talks The markets do not care. The Eurorumor of the day was enough to juice the futures and Asian markets overnight moving money out of the Forex safe currencies and into speculative plays for window dressing in the equities markets. The big movers were obviously EUR/USD and EUR/JPY with a nice gap in both as highlighted in this hourly chart of…
By John Galt November 27, 2011 – 16:15 ET In another not so shocking development in the Cirque de EU, now the Federal Reserve Bank of the United States is being asked to bail out the European Union so the banksters can continue their grand plans for a worldwide political and economic union based on their vision of the future. Last I checked that damned piece of paper under glass in Washington, D.C., there was no obligation of the U.S. to bail out the nations…
By John Galt November 21, 2011 – 07:15 ET With futures looking pretty ugly already, the blame game has begun. Blame the Spanish election. Blame the Italians. Blame the Greeks. Blame the ECB. Blame the extra-Constitutional super-committee. In reality these entities have been the problem all along, creating a nightmarish if not illegal Ponzi economy which as it implodes takes layer upon layer of their citizen’s wealth with them. The desperation expressed by the financial and political elites to preserve their power base and the…
By John Galt November 18, 2011 – 05:15 ET Think the markets need a weekend breather? Perhaps it is time to take out the Eurotrash to the curb, clean up the mess being left behind and hope the EU behaves itself while the U.S. primes itself for a holiday week. The Euro currency though, which really should be trading substantially lower if not for coordinated intervention, looks as if it will be maintained above the 1.34-1.35 level moving into trading this morning which will support…
By John Galt November 16, 2011 – 07:00 ET If anyone thinks the roller coaster is over with, look at this chart of the S&P futures from last night through the early morning hours and until about 6:50 a.m. EST: (all charts courtesy of ForexPros.com) So the photo at the top of this thread of the Millennium Roller Coaster or the S&P chart are pretty much identical. Please keep your hands and arms inside the car at all times and strap yourself in as the…
By John Galt November 15, 2011 – 05:15 ET (chart from INO.com) Oops. The European Union’s reserve currency is showing signs of cracking again this morning as it falls back into the 1.35 range once again and the Italian/Greek/Spanish/Irish/Portugal/Hungarian/Austrian/French debt/banking/government crisis (circle all which match today’s news) accelerates into the winter. The only thing missing is a group of alcohol filled or drug induced bums and losers marching on the stock exchanges or city halls of large cities in those nations; er, never mind, that’s…
By John Galt November 14, 2011 – 07:25 ET With the successful overthrow of the Greek and Italian governments by the powers of Northern Europe, one would think that the world would be stable and life would return to normal right? Uh, no. The adults(bond traders) are back at work today and the next two weeks are truly some of the last serious trading periods before year end. In Europe an Italian bond auction was less than enthusiastically received and indications are that investors are…
By John Galt November 8, 2011 – 05:25 ET Despite record intervention, one chart has consistently been the warning signal for major market moves and forecasting the moves of financial markets worldwide: The Euro-Yen cross has been all over the board and the crash and burn started this summer then recovery due to JCB intervention has only returned the exchange rate back to where it was when the crisis accelerated in August. If this breaks again today, as it looks like it might, this could…
By John Galt November 4, 2011 – 05:10 ET The front page from the November 2, 2011 edition of Liberation pretty much sums it all up: And the chaos continues this morning. The S&P 500 achieved the technical support level of 1254 yesterday but the rally was on thin volume once again. Each rally has less breadth which is a nagging indicator to me that any bit of bad news will probably drive the markets down rapidly and violently. Gold is still building on its…
By John Galt November 1, 2011 – 23:00 ET The 5 year chart of the US Dollar vs. the Yen says it all: (Click to enlarge/reduce chart) No further comment is really necessary.
By John Galt October 31, 2011 – 07:45 ET The Way we Were Memories Light the corners of my mind Misty watercolor memories Of the way we were Scattered pictures Of the smiles we left behind Smiles we gave to one another For the way we were Can it be that it was all so simple then Or has time rewritten every line If we had the chance to do it all again Tell me – Would we? Could we? Memories May be beautiful and…
By John Galt October 28, 2011 – 05:20 ET Way, way, way, way, way back in history, our esteemed consumer of ink and paper, Federal Reserve Chairman Ben Bernanke and the central bank allegedly leaked to the member banks of that corrupt group that a pending course of action was about to occur where the discount window would be opened and Cramer’s infamous rant would result in a stick save of epic proportions as the banksters would be able to continue the Great Ponzi for…
By John Galt October 23, 2011 – 15:50 ET Sigh. Just when you wonder when anyone else in the world of reality couldn’t take a mushroom or two (allegedly) and fall down the rabbit hole, like this guy: Along comes tonight’s entry for tomorrow’s print edition of the UK Telegraph by Ambrose Evans-Pritchard and what is either a disappointing sell out of his principles, or the results of smoking America’s winnings from the war in Afghanistan: World power swings back to America While much of…
By John Galt October 21, 2011 – 05:30 ET What a week. The markets started with the promise of a Eurozone solution by Sunday and finish the week with a promise to discuses a promise to promise an announcement on Wednesday’s meeting by Sunday. The funny thing is the PPT and Bubblemedia have some morons actually believing that the Europeans have learned how to create solvency. The proclamations the world has heard thus far are as productive and logical as the guy in Ireland setting…
By John Galt October 20, 2011 – 05:30 ET All you need to know about what is coming can be found in the charts below. Things are breaking down in Asia and Europe thus it is a matter of days perhaps when we take the lead back and head south for the winter. Gold, using the GLD ETF, is indicating a massive break about to happen below the $1550 mark, probably below $1500 (150 on the ETF approximately) in the days ahead: (click on graphs…
By John Galt October 19, 2011 – 08:10 ET Futures are all over the place this morning as yesterday’s rumor rally of the week projected that Europe would be saved for the 1,372nd time in 720 days which means that the ECB and Bubblemedia will have to redouble their efforts and create a minimum of four to five rumors today to keep this market in sucker the sheeple mode. The insanity of what the idiots are trying in Europe is being revealed as Germany had…
By John Galt October 13, 2011 – 05:25 ET (click to enlarge/reduce) The chart above is simple enough. The market rallied towards the 1220 resistance area on the S&P 500 yesterday, failed on low volume, and in the last hour sold off on heavy volume while selling into the close. This morning futures are mildly negative as of this posting but were positive overnight until Europe opened indicating that there is great dissatisfaction with the proposals put forth thus far as the European Central Bank’s…
By John Galt October 12, 2011 – 05:30 ET The rally monkeys have their backs against the wall after yesterday’s epic failure to breach the 1200 mark so today is do or die time. I would not be shocked to see the PPT pull out all the stops to attempt a squeeze move against the shorts remaining in the financial stocks and European sectors as this truly is a desperation period between now and Friday. Futures are up this morning but the rubber meets the…
By John Galt October 11, 2011 – 18:45 ET “Those who do not learn history are doomed to repeat it.” So what part of that old saying, depending on which interpretation has escaped the idiots in the U.S. Senate? Apparently all of it. The U.S. Senate tonight passed the currency bill which would, if it becomes law, almost guarantee a trade war with our nation’s central bank. The problem is that the unpredictability of the House Republicrats who are in full blown election mode may…
By John Galt October 10, 2011 – 12:00 ET I’m learning to hate the internet or at least Comcast. We get a little rain here in Florida, I lose the internet for 16 hours. It’s back now and that’s the good news. And here’s the video that should provide some insight into what is happening despite the bizarro land markets we are in the midst of today.
By John Galt October 4, 2011 – 05:25 ET (Chart via INO.com) Technically speaking the U.S. equity markets are due for a bounce even as the European and Asian markets continue to implode. The news that the Franco-Belgian bank Dexia is in trouble and possibly facing a break up due to their faltering portfolio and the fact that the Euro continues to collapse versus the dollar could possibly provide further downside action today but I think the Plunger Protection Team intervenes and causes a brief,…
By John Galt September 25, 2011 – 23:00 ET The Historical Circle of Economic Mistakes is now Complete For once in my life, I wish I had some doubts as to my calculations and ideas being incorrect. While many may disagree with the conclusions I have ascertained, the truth is that the macro or big picture review from a historical perspective appears to have repeated itself right down to the arrogance of the financiers and the ignorance of the political elites. For the loss will…
By John Galt September 22, 2011 – 21:30 ET Ah yes, who can forget that Jib-Jab video I created back in 2009 with the dancing Bernanke: Well, old Ben just danced America and the West into a major recession to validate his theories and seize more power for the banksters this week. The move in the markets today was brutal, sharp, but not terminal. The headlines from some of the mainstream financial media reflect that fact: Bloomberg 9/22: Stocks Fall But Investor Panic Could Soon…
By John Galt September 22, 2011 – 05:30 ET Sucks to be right. It’s going to be a long, long, day….
By John Galt September 15, 2011 – 18:30 ET You may now put your seat in the panic position and order doubles from your flight attendant. From the U.K. Telegraph, a quick excerpt from this evening’s entry by Ambrose Evans-Pritchard; please click on the headline to read the commentary in full. China to ‘liquidate’ US Treasuries, not dollars The debt markets have been warned. A key rate setter-for China’s central bank let slip – or was it a slip? – that Beijing aims to run…
By John Galt September 12, 2011 – 03:30 ET Oh the bloodbath and brutality of it all… (all via YahooFinance) INDIA: HONG KONG: GERMANY: FRANCE: Oh, and the USD/EUR: Oh, and FYI, per breaking news on Bloomberg just 5 minutes ago: CDS in 15 European countries have hit the highest levels EVER. Lehmanpanic may now ensue………
By John Galt September 12, 2011 – 00:45 ET Bad real money, bad. Spank you I shall, spank you. Sigh. Yes, the stupid are now sending an S.O.S. And yes, much like one of my old talk show idols, ABBA does rock, IMHO. Then again so does Rush, Iron Maiden, and Mendelssohn, so please do not judge me by one video, LOL. The ChiComs realize the truth behind the gold reality tonight via China Business News: Contrarian analysis of gold sentiment is bullish Gold’s sentiment…
By John Galt September 8, 2011 – 16:55 ET The chart below from ForexPros of today’s action in the Euro currency should be a red flag IF it continues to collapse over the next few weeks and pierces key support levels at 1.34 and 1.30. Stay tuned as the trading tomorrow might well determine the path for the US Dollar until the FOMC meeting on September 21.
By John Galt September 6, 2011 – 12:45 ET From INO.com(updates automatically): Sacre bleu!
By John Galt September 6, 2011 – 07:35 ET The stunning story from Bloomberg this morning is only the beginning: Swiss National Bank Pledges Unlimited Currency Purchases Excerpt: The Swiss central bank imposed a ceiling on the franc’s exchange rate for the first time in more than three decades and pledged to defend the target with the “utmost determination.” The Swiss National Bank is “aiming for a substantial and sustained weakening of the franc,” the Zurich-based bank said in an e-mailed statement today. “With immediate…
By John Galt August 18, 2011 – 16:30 ET Today is going to leave an even bigger mark. For this month’s fun and games to continue is one thing. To beat the crap out of investor’s, poop on the confidence of our citizens, take a dump on Obama’s first day of vacation, and take a Brontosaurus sized turd no top of Turbo Timmy’s 50th birthday, well, let’s just say I’m glad I’m poor, not married to the D.C. – Wall Street elites and get to…
By John Galt August 9, 2011 -10:45 ET The economic circumstances which the Federal Reserve, Wall Street, and Washington, D.C. have been living in was shaken by the events of the past ten days thanks to the realization that both Main Street USA and Europe are in far worse condition than their delusional public statements indicated. Thus the crisis de jour has come upon their doorsteps and the reaction from Washington was to pass a new debt ceiling bill which does nothing to reduce the…
By John Galt August 7, 2011 With liberty and monetization for all, courtesy of the European Central bank website (link is here): PRESS RELEASE 7 August 2011 – Statement by the President of the ECB 1. The Governing Council of the European Central Bank (ECB) welcomes the announcements made by the governments of Italy and Spain concerning new measures and reforms in the areas of fiscal and structural policies. The Governing Council considers a decisive and swift implementation by both governments as essential in order…
By John Galt August 7, 2011 10:47 ET CNBC just broke the story (click on the title to read the story in full): Dollar to Be ‘Discarded’ by World: China Rating Agency By: Ee Sing Wong The man who leads one of China’s top rating agencies says the greenback’s status as the world’s reserve currency is set to wane as the world’s most powerful policy makers convene to examine the implication of S&P’s decision to strip the United States of its triple “A” rating. In…
By John Galt August 5, 2011 If that chart isn’t the definition of insanity, I do not know what is. And it is not just in the United States. With just under 2 hours to go, all I can say is grab an intern, a cigar, and a Scotch for the end of this ride. Just wow.
By John Galt August 4, 2011 Sex sells. Then again so do bears. And well, today….. Today is going to leave a BIGGER mark. Tissue anyone? Buck up boys and girls! If you aren’t in you didn’t lose, cry, or sweat profusely like Cramer’s forehead. Just a reminder as to why I did this video in June because technical patterns do mean something: To call into the program dial: (877)213-6404 or (812)307-4363. Just click on the banner below to find the various audio players to…
By John Galt August 3, 2011 21:45 ET Uh,paging the BoJ and SNB: It hasn’t worked in the last decade. I’m just sayin’….. First off, gaining altitude only makes your currency a bigger target for those who are playing the opposite side of the trade. In World War II that would mean the anti-aircraft gunners got another shot at you before you became shark bait. Secondly, committing suicide in the big one, WWII, resulted in who winning once again? Yeah but we ain’t winning this…
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