All Majors and Gold

hi all 1591 is the most important lvl to watch, it will open way to 1600 and 1615 at least

okie dokie
taking a quick short at 1589
tp 1572

I have shorted too. There is daily 21ema.

there's them resistance at this level and me thinks we might drop back to 1576...changed tp to 1576 instead 1572

any reason for this jump?

i can't see anything that is really fueling it.....

in long run there are still unfinish business at 1650

Daily EMA21 has been invalidated imho, have to wait until the end of the day though to be sure but price has moved too far away from it for my liking

has anybody been reading jim sinclair's website.....

he has some nasty doom and gloom with regards to bank failures and usa and canada new govt bills that will basically do like cyprus asset take away if a major banks fail that is...

.

Bad jobs = continued fed printing
Japan printing - a lot of liquidity, some of it is bound to go into precious metals.
Perhaps also there will be increased demand from Japan in the medium term due to JPY devaluation which is likely to continue in my view.

In fact, the more I think about it the more the more sceptical i am.... this japanese stimulus could be the end of Japan if people start panicking and pulling out their savings to invest into something else (as they see their currency fall in value) .. will take a bit of time for people to realise this but I think it has a good chance of happening and it will snowball into something yukky.

lex,
that's a very good technical and fundimental description you've put through.... "something yukky"

last week they said cyprus is a one of deal and not duplicated with other countries...now this report....when will people know that their money is
not safe anymore....also remember the leakage of off shore accounts, causing govt to go after those tax money and accounts...let's see who will be next in line for free money

Spiegel Suspects Deposits Haircut in Greece


http://www.forexfactory.com/attachme...1&d=1365519619

From greekreporter.com

http://www.forexfactory.com/resource...tory-quote.png

After the suspension of a planned merger of the National Bank of Greece and Eurobank because of capitalization problems and opposition from Greece’s international lenders, the German magazine Spiegel said it believes the Greek government is planning to confiscate some of the deposits in banks as happened on Cyprus.’The magazine said the decision raised suspicion that in an economic emergency that the government would go after bank accounts. Tax revenues are far off expectations despite big tax hikes as part of austerity measures that include pay cuts and slashed pensions. The Troika of the European ... (full story)

the problem it's difficult to envisage which way it will go...will the be flight into USD? Gold? or will the whole world will start dumping every sovereign bond? or on the contrary some sovereigns will benefit ... who knows exactly....what is the alternative to precious metals for storage of value?

yes you are right we are in one fucked up economic times....govt denials and cover up of major economic problems with printing of money and slowly they are needing to find newer ways to cover up the problem without fixing them....i'm thinking more and more world wars are a coming....

jim's website articles today



Hi Jim,
Why does everyone seem to think that Canada, Cyprus and New Zealand are the only countries preparing for bail-ins?
CIGA Janice
Basel Committee on Banking Supervision
Report and Recommendations of the Cross-border Bank Resolution Group
Click here to read the full report…
This is the policy that the central banks are following. Check out the list of central banks consulted on the formulation of this – last page. The Fed is represented, so it should not have come as a surprise to Mr B. or was it the tilt of the cards that provoked the “angry” reaction?
Underlining is mine in the below quote.

Recommendation 10
National authorities should adopt crisis management and resolution strategies that reduce moral hazard by minimising public expenditures. Losses should be allocated among shareholders and other creditors, where possible; and private sector resolutions rather than public ownership should be facilitated. Where temporary public ownership is necessary, authorities should seek to return assets to private ownership and management as soon as possible. At the time of public intervention, national authorities should seek to develop public understanding about the amount of fiscal support that may be necessary, estimates of the time horizon for intervention, risk sharing arrangements and the possible losses borne by the taxpayers.
SIGNATORIES to the document which proposes that creditors of financial organizations, the depositors, carry responsibility to "bail in" bankrupt organizations.

1. Members of the Cross-border Bank Resolution Group
2. Swiss Financial Market Supervisory Authority
3. Federal Deposit Insurance Corporation Banco Central de la República Argentina National Bank of Belgium
4. Commission bancaire, financière et des assurances, Belgium Banco Central do Brasil
5. Office of the Superintendent of Financial Institutions, Canada Commission Bancaire, France
6. Deutsche Bundesbank
7. Bundesanstalt für Finanzdienstleistungsaufsicht, Germany Banca d’Italia
8. Bank of Japan
9. Financial Services Agency, Japan
10. Commission de Surveillance du Secteur Financier, Luxembourg De Nederlandsche Bank
11. Banco de España
12. Sveriges Riksbank
13. Swiss National Bank
14. Swiss Financial Market Supervisory Authority
15. Bank of England
16. Financial Services Authority
17. Board of Governors of the Federal Reserve System Federal Reserve Bank of New York
18. Office of the Comptroller of the Currency
19. Office of Thrift Supervision
20. Federal Deposit Insurance Corporation
21. European Commission European Central Bank (ECB)
22. Financial Stability Board
23. Offshore Group of Banking Supervisors
24. Bank for International Settlements
25. Financial Stability Institute
26. Secretariat, Basel Committee on Banking Supervision

Dear Janice,
The backpedalling and denials which have emanated from just the same bodies that signed on to this Cyprus template is because it was used in Cyprus, revealing its existence ahead of time. This was constructed for the next large banking problem and not for slamming an island tax shelter like Cyprus. Here is the undeniable template to confiscate deposits with legal grounds. Clearly if this was expected by any public, few would carry large balances in any bank. This should answer clearly the question, can central planners do really stupid things at just the wrong time and wrong targets?
Respecfully,
Jim

In The News Today


Posted April 9th, 2013 by Jim Sinclair & filed under In The News.
Jim Sinclair’s Commentary
Today he ordered visitors to leave North Korea based on pending war.
http://www.jsmineset.com/wp-content/...002_thumb1.jpg

80/82 area saw lots of activity today so I expect it to be strong support..maybe dipping few bucks below that level

here's that chart back in march 17


and now

I am on sidelines for time being.

Looks like gold might make another attempt at 1,600. Trend bias appears to remain towards the short side, though with poor employment numbers in USA, QE does not look like it will be scaled down anytime soon. Add Japanese monetary policy to the mix and prices might just reach towards 1,615 level. Any conflict in Korea could also spike prices, though U.S. CPI number this week could temper.

right now i have short 1589
but i think it wont hold thru london and ny open

Think the market will try to retake the US$1590 high reached yesterday, during LD session. Short right now but with a fairly tight stop.

BREAK of 1590 will make way for 1600..

i have shorted at 1586.4
daily 21ema supported with downtrend line at daily.