Thursday, July 1, 2010

The Housing Market Is "Lights Out - Look Out Below"

"The number of buyers who signed contracts to purchase homes dropped in May to the lowest level on record, a sign the housing recovery can't survive without government incentives" link: The Irreversible Death Spiral

This tells me that the Fed/Govt will soon start throwing trillions of manufactured paper money into the system, perhaps even sooner than I anticipate. Gold will soon start anticipating this policy action.

18 comments:

  1. Something tells me that there is fraud and criminality in every move.

    The dollar falls like a lead fart
    And gold falls like a lead fart at the same time.

    Time for pitchforks and a rope noose.

    Politicians and banksters...string 'em all up.

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  2. HUI just getting crushed today. Already down 5%!

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  3. You guys were mentioning on this blog that gold/silver doesnt have much upward resistance. It seems it doesnt have much downward resistance either.. HaHa!

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  4. putting a lot of cash we raised 2 weeks ago to work here.

    remember in gold/silver/mining stocks: buy fishing lines, sell rhino horns

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  5. So much for bullish PM chart patterns. What else can we expect from somebody that owns a printing press and the regulators too??

    Joe M.

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  6. Lesson learnt. The fed and regulators never go on vacation. Gold bulls do go on vacation... approaching 1200

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  7. the bullion banks are covering shorts here. they are buying the gold and mining stocks that "Elmer Fudd" public is selling in fear.

    we raised a lot of cash 2 weeks ago. We started deploying it today knowing full well that today is probably not the bottom. we also added a lot of gold bullion.

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  8. Tic Tic Tic

    More good news Rasmussen poll has the Obama @ -19%.....that is all.

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  9. ok folks--all together now--what happens just before the BS, excuse me the BLS releases its jobs numbers every month?

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  10. "He is Mr. Mass Destruction," Davidowitz says of Obama. "I mean he is a human destroyer. This guy has spent his way into oblivion and we don't have a budget. He is surrounded by a bunch of complete incompetents, led by himself. "

    God I wish he was my uncle.

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  11. anon,

    Check that, the regulators are always OUT TO LUNCH!!

    Joe M.

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  12. On sunday this blog reported that "the bullish set up in silver (and gold) has turned insanely bullish".

    Why would you be raising cash in the last 2 weeks then?

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  13. Anybody else notice that gold isn't selling off like it did in '08? Or am I just talking my book? :p

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  14. Re: raising cash. Please note when I wrote that piece. Sunday I believe. We raised cash levels in our fund during the two weeks PRIOR to Sunday. We have done a lot of daytrading this week until today and yesterday before the close.

    We made two large bullion purchases today - one gold, one silver - knowing full well we might have to buy more over the next few days to average down.

    We have redeployed about 1/3 of the cash we raised in the last 1/2 hr yesterday and throughout today.

    In fact I just got off the phone completing our purchase of mint boxes of silver eagles.

    I can't know when to time cartel bullion paper smashes. I have a general feeling about when they are coming. I did not foresee today happening but I always expect it will and I make sure we have cash on hand to take advantage of it.

    Always: buy "fishing line" charts in the bullion market. Always Always Always.

    Anymore questions?

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  15. Sounds about right to me Dave....Ignore the noobs and weak hands. This is about long term not daily plays. One must have skin in this game, if your not thick skinned and can;t take your losses, well then step up to the plate I'll personally buy your stash..Cash money.

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  16. Looks more like a lightning strike than a fishing line :)

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  17. Looks more like a lightning strike than a fishing line :)

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    And stocks are down over 10% and Bonds forget it...all classes are getting hit not just one. In this Holiday environment where thin trading is occurring the take downs are easily done.

    Patience prevails.

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  18. Today is sandbox play. I've lived thru days when the HUI is down over 10%.

    On a %-basis, I bet today isn't even close to being a top 10 down day in the last 9 years.

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