Friday, May 07, 2010

Did you SeeFuture? Seefuture Did


boris said...

Doctors Orders
Have to seem him
Part of routine checkup really

See you in 3 hours or so.

xerxes said...

Well Dear Boris, B-berg tells us that after some profit taking here the buckeroo will continue its stampede ... Will the Goldmen have made another prescient call? :-)

boris said...

If the goldmen's call for 200 OIL is any indication...

Dear Xerxes
Good Trading my very Dear Friend

Wanderer said...

Dear Boris,
Good morning.
I hope that your visit to the doctor went well.
Thanks and continued good trading:-)!


Ivan said...


If 5 min they will accelerate...

Ivan said...

In 5 min...

boris said...

Dear Bert,
Everything is fine with me
My doctor says, just one more injection of youth elixir and I may as well feel like back in 40s again(:-

Yes, thank you Dearest Friend
Just a routing check up, which my wife enforces without questions.

It is either I comply, or find another wife(:-

I love her, so I comply

Good Trading Dear Bert

boris said...

routine check I meant(:-
if doctor could only improve my English, I would call him miracle doer(:-

Good Trading All

boris said...

Gold Dear Ivan,
Is indeed in the time frames, we discussed for over couple weeks now and yes, it certainly looks quite vulnerable after run up of over 100 from the last low April 25 cycle we projected.

Just a warning though. If gold was not to listen to us here and make new highs in next 2-3 days, watch out.

Good Trading All

Wanderer said...

Dear Boris,
Glad to hear it.
Sounds like a wise decision too!
Good trading dear friend.


Jim said...

Audio from the pit yesterday:

john said...


Missed the whole thing yesterday. Was away from market most of the day while helping a friend shovel and move 5 tons of rock for is landscaping. Actually kind of funny as I miss very few days.

old john


boris said...

Yes, Dear Jim,
And in there, there was my 70 bid and 90 offer that netted me 20 pts in less than 2 minutes.

THank you very much.

That , of course, reminded me of my trade, against, SOROS in 1987, where I lifted 34 big spx points in about 19 minutes for 17000 dollar gain.

More the things change, more they seem to stay the same!

Of course, I only became aware I punished George Soros, after reading Barcelinos's book where, he showed the info , that it was George SOros, sell spx futures that fatal Black Tuesday morning and Barcelino bought big and yours truly, risked few penny's to make the largest gain ever in my life, and fastest, I would add.

But, truly, Yesterday's gain, while not as big, was fastest ever!

In less than 2 minutes 20 pts.

THank you God, For looking out for me.

boris said...

I know Dear John,
YOu saved some of your precious nerves.
It is all for good(:-

I know, you hardly ever miss the market!

Funny ha

Enjoy My Dearest Friend JOhn

Ivan said...

Thanks Boris, for reminding me about gold.

boris said...

Dear Ivan,
Not that I know, Just looking for
something to hold on as blind does(:-

Good Trading Dear Ivan

Ivan said...

Be careful!
I see big probability for big drop of GBP on Monday and Tuesday.

R said...


Zerohedge says this may have been the reason for the market rebound in the last half hour. What's your take on this, and the week ahead?


R said...

sorry...forgot the link...

R said...

WASHINGTON—The Obama administration is pressing its European counterparts to act more quickly and decisively to contain the Greek financial crisis before its fallout undermines a recovery in Europe and spreads across the Atlantic to the U.S.

After a Friday morning conference call among finance ministers and central bankers from the Group of Seven—U.S., Canada, Japan, Germany, France, Britain and Italy—President Barack Obama spoke by phone with German Chancellor Angela Merkel to reinforce that message. "We agreed on the importance of a strong policy response by the affected countries and a strong financial response from the international community," Mr. Obama told reporters.

At the Federal Reserve, meanwhile, officials were considering whether to reopen a program, launched during the financial crisis, to ship U.S. dollars to the European Central Bank so it can lend them to overseas banks in need of dollars.

European governments and the International Monetary Fund are approving a €110 billion ($145 billion) Greek rescue package, which the U.S. supports. European leaders were scheduled to meet Friday evening. Central bankers from both sides of the Atlantic are set to gather in Switzerland over the weekend, and the International Monetary Fund board was scheduled to vote on its $39 billion portion of the Greek loan on Sunday.

Some U.S. officials say they believe that what they consider a slow initial response by Europe has allowed problems in Greece to spread to Spain and Portugal. Many members of the Obama economic team are veterans of the Mexican and Asian financial crisis of the 1990s from which they drew a number of lessons. Both Treasury Secretary Timothy Geithner and White House economist Lawrence Summers like to quote former Mexican President Ernesto Zedillo as saying: "Markets overreact—and that means policy has to overreact."

By that lens, the U.S is arguing that Germany, France and other healthy European economies may need to boost their stimulus spending to keep the overall European economy on track, while troubled countries such as Greece, Spain and Portugal must commit themselves to reform. European leaders need to make clear that they stand behind the weakest members of the 16-nation euro zone, the U.S. says.

The Fed, for instance, is considering whether to reopen a the program put in place during the financial crisis in which it shipped dollars overseas through foreign central banks such as the European Central Bank, Swiss National Bank and Bank of England. The central banks, in turn, lent the dollars out to banks in their home countries in need of dollar funding.

The Fed has felt that it is premature to reopen the program -shut in February — because it wasn't clear that foreign banks were in need of dollar funds. But new hints of growing financial strain in money markets could give the Fed more incentive to act. One example, Libor interest rates, which financial institutions charge each other for short-term loans, rose from 0.32% at the beginning of the week to 0.43% by week's end.

Reopening the program would likely fuel criticism from Congress because of the perception that the U.S. would be coming to the rescue of Greece and other struggling European nations. Congress already is pushing the Fed to open itself to more scrutiny than it wants on its relationships with other central banks.

articles continues on......

boris said...

Dear R,
This is all very nice and I do not editorialize on these things enough in public, but I think you and other subscribers have pretty good idea what I think about all this BS.

EUROPEs Death is a PROMOTION, manufactured in EUROPE (it is not without basis though, let us make sure we stress that EURO was OVERPRICED At 1.51). Wall Street cannot, easily promote things which have no bases. Neither American People(world people) or Wall Street are stupid enough to try that.

Now, I have made sure, you all understand that Weak EURO is a god send for EURO area, because 1.51 was strangling their export machine(Let us not forget GERMANY until recently was BIGGEST exporter in the WORLD!!! and still is after CHINA). How is that for importance of EURO levels.

Ok, so I will sidestep all BS surrounding this and enter the HEDHES. Once hedges , including SOROS and ROGERS and Faber understood the opportunity , they all got on Dollar Band-Vagon. Good for them, because we were there before them. Now, we stayed with this as well until very recently, because our outline and AP levels were calling for fulfillment of that idea. Now, that much of that was fulfilled and Yes Dollar made newer high, but no more than 2-3% above initial AHAP1 and Now , just about AHAP2 the only question that remains is , when will the HEDGES, finally say, OK, made enough money.

When will be EURO gov's will say, OK euro is now cheap enough.


When will the FED say. "oh oh" Ok, now we will swap DOllars again with Other central banks and SCREW Americans ( by lower dollar).

This is all well orchestrated and is coming to a head, soon.

I care not about Wall Street Articles, for me they are Yesterday's news, not the tomorrows news.

without IMF things are not on the go. IMF is a synonym for "CHEAPEN THE DOLLAR" for USA is the largest IMF donor.

And USA is/being the next GREECE itself, is , at least , in a position to print its own currency and cheapen it all it wants and you and I be damned as long as GE makes profits( via crook or the nook ).

So, yes, I love to answer your question posed here, because it gave me an opportunity to sum a lot of what you already hear from and much, much in advance.

WSJ is yesterdays news. ANTISOPITALIST is tomorrows news.

In any case, pay close attention to the part where they are talking about what we already know a long time.

IT IS JUST A MATTER OF TIME when FED gets of its behind and SWAPS/SHIPS more dollars out. Cause USA FED is chief MAFIA bank with a license to print its money and support it with GUNS. No other nation can do that.

But and here is the CLOSER


For FED to do things it need a nice cover at all times.

"GREECE TRAGEDY", most true and partial manufactured ( as if we did not know GREECE and PIGS are basket case before) are a NICE COVER


1) Hedges, Favored banks knew the promotion and made money on the moves till now
2) Euro got, much needed cheaper currency.
3) FED gets a nice cover to swap Dollars again and screw you and me

HEDGES, connected inside to this info, know exact timing of these events.

You and have to guess.

I think we are doing excellent job of so far, for over 4 years, nobody was able to anticipate currency events better than us. Except Bernanke at al. Who, actually are in full control of it.

So, there. Dear Jiffy.

Enjoy the weekend

boris said...

Dear Jiffy

This sort of question and answer is , should , in most of times, be relegated to internal blog at

But, I chose to answer it in public, because of the feeling that the entire issue issue is coming to a head, but my musings and expectations of paradigm chance are/were a long time internal answer that our subscribes were familiar about for months.

Sometimes anticipation gets a beat ahead, but such is the business of guessing , no matter how intelligent, they rely on somewhat imperfect tools.

On the Other hand if you dial FED, they can telly exact time and those who can dial fed directly, have a better timing.

I will admit that in some part , my desire to answer you in public comes from the need to let visitors of this blog know, how we think , and who we are. So, it is not your fault I let some of nuggets of our thinking go public here. It fit my desire at this time to attract some more subscribers.

To whom , I give no BS, but a true , multilevel connected thinking, that they cannot get easily.

It is also, in some part living up to the "YOU FIND WHAT YOU GIVE, ALL ELSE IS LOST" motto of this blog.

So, thank you for the question. Dear Jiffy

Good Trading All

Wanderer said...

Dear Boris,
Thank you for, once again, providing some perspective on the value of "news".
Speaking for myself, when I am able to tune out the distractions and focus on the great indicators and analysis you provide, and then plan and execute intelligently, I am much more successful.
I still have work to do in that area, but with the objective and effective tools you provide (along with some wise guidance), I know that trading/investing can be profitable on a consistent basis.
Thanks for everything.
Good trading and have a great weekend.


boris said...

Dear John,
Sends us this

Congrats, You own Red Roof


Ownership Society, We own all failures, while FED friends own profits.

Good Trading All

boris said...

Dear Bert,
Thank you so much for your
great input.

Good Trading Dearest Friend Bert

xerxes said...

Goldman Sachs Group Inc. Chief Executive Officer Lloyd Blankfein said he’s confident European leaders will find a way out of the Greek debt crisis and urged them to bolster flagging investor confidence. .........

Translation: Congress: Get the SEC off my back and EURUSD will go no lower than our target of 1.20 or watch us send it to parity ...

xerxes said...

Not sure how true this is but I read that Jimmy Rogers is shorting big banks Dear Boris ... he got the long dollar call right as i heard him say on b-berg that he went short euros when eurusd was around 1.50

xerxes said...

Provided by the Business Insider, May 6, 2010:

In an interview with India's Economic Times, Jim Rogers reveals an intensely bearish attitude on stocks, and even drops a bit of a mystery:

He says: "I am shorting a stock market index in the US, I am shorting an emerging market index and I am shorting one of the large western international financial institutions."

"It is an emerging market index; it is not a specific country. It is an index of many emerging markets and that is mainly because the emerging markets have grown more than most things here during this big recovery. So that is where some of the excesses are developing."

Which major financial institution might he be shorting?

He describes it as a bank which people think is 'extremely sound', but which could be taken down by currency problems.

xerxes said...

"... the market will no longer make the news in Club Med. So where will it? No surprise there - the UK, France and Germany. The smartest money in the world is now actively betting the core of the eurozone is where the next CDS blow up will take place. With a stunning $630 million, $558 million and $370 million in net notional derisking, France, UK and Germany are the top three most active recipients in negative bets in the prior week, not just in sovereigns but in all names. The greatest non-sovereign derisker in the last week? Goldman Sachs, with $175 million. Nuff said. Yet a tangent on the UK: last week the UK saw $443 million in net notional derisking. This week the number is even higher: $558 million. There is now over $1 billion in net risky bets made that the UK may not last. And Zero Hedge's outside bet to be the first core country to blow up, thanks to its massive PIGS exposure, France, finally made the top spot in net derisking, with $629 million in net notional, or 189 contracts. The smart money is now massively betting that Europe's core is done for; as the PIIGS have demonstrated, the blow out in spreads for the core trifecta can not be far behind."


boris said...

Dear Xerxes,
Whatever information is spread around seems to be blissfully silent about the fact that USA banks are exposed to EURO PIGS at least to the same tune as the EURO banks.

I wonder whose interest is it hash this at this time, because it surely is not reported anywhere much.

Let us forget the USA banking expose to PIGS, let us look next to the entire USA economy exposure to the EUROPEAN economy.

I am sure somebody needs to get the picture right.

But, the fact that all ready does not point the fact I just pointed shows me that EURO IS DEAD PROMOTION is as strong and as one sided as it has every been from the start.

Good Trading Dear Xerxes

boris said...

Dear Xerxes,
Jimmy Rogers, gets things, right most of the time, but often gets them very wrong for a long time.

In early 2008 he advised to sell Dollars one could get hands on and was there for entire rally from 70-90 of Dollar index, FABER was not much better either.

If I ever, was that definite about something and that wrong, nobody would ever talk to me again.

That shows that BSers get exposure right or wrong, because they are


Good Trading Dear Xerxes

xerxes said...


* Chatter of €600bn ECB loan facility to be announced over the weekend
* Terms mentioned are 1% for 1 year loans to cover 1,100 banks

xerxes said...

Morgan Stanley (MS:US): The sixth-largest U.S. bank by assets made more than $120 million in trading revenue on seven separate days in the first quarter, or 11 percent of the time. The firm’s trading division lost money on four days during the quarter, compared with 14 days a year earlier, according to a filing with the U.S. Securities and Exchange Commission. It made money in trading on 57 of the 61 trading days in the first quarter, or 93 percent of the time.

xerxes said...

“You can’t rely on fiat currencies,” said Michael Pento, the chief economist at Delta Global Advisors Inc. in Huntington Beach, California. “This is a watershed moment. People are finally realizing that gold will supplant all fiat currencies.”

xerxes said...

“We are going to defend the euro,” Spanish Economy Minister Elena Salgado told reporters as she arrived to chair today’s Brussels meeting. “We think we have a duty for more stability for our currency. We will do whatever is necessary.”

boris said...

Dear Xerxes,

There is new post now