sticky this: you just saw the beginning of the real au + ag rally

[chad]

every joe 6 pack in america is going to see what happened today on the dow. and they are going to get out and stay out.

mark. my. words.

chad
5-6-2010

[k-os]

You could be right. I think today was a spark, for sure.

[Awoke]

We can only pray.

Water - Check.
Food - Check.
Silver - Check.
Guns - Check.
Ammo - Check.
Commitment - Check!

[Ifyouseekay]

-

[sirgonzo420]

You could be right. I think today was a spark, for sure.


A spark for *us* maybe... but will the American Idol viewers put down their remotes?



(I'm betting: not until they're hungry)

[chad]

i don't think you will have joe six pack piling in to PMs, but i think you will see them remove themselves from the stock market.

this will lower volume + demand, and the market will turn lower. large position holders will then be forced to seek safety and go in to PMs.

whoever messed up today is going to get fort marcy parked.

[Dave Thomas]

What about this scenario? It's happened before.

Euro suffers weakness, tanking. Capital and assets flee the eurozone for the safety US equities and assets.

US Stock bubble all over again a la 1999 ~ 2000

After the Stock bubble of 2012~13 is when I'd REALLY start getting nervous.

Sound somewhat plausible?

[Book]

every joe 6 pack in america is going to see what happened today on the dow. and they are going to get out and stay out.


Like they did in 2008 during that Wall Street meltdown?

Cramer will seduce them back this time too...lol.

http://www.insidesocal.com/tomhoffarth/060530_cramer_hmed_1p_hmedium.jpg
K-Y Jelly Corp and Vaseline Corp are a big BUY now kids!

:oo-->

[JohnQPublic]

i don't think you will have joe six pack piling in to PMs, but i think you will see them remove themselves from the stock market...


You may not realize this Chad, but JoeSixPack started this forum! ;D :lol

[StackerKen]

yep Im pretty much a joe six pack myself...just a dumb carpenter...

I Shoulda went with more gold and less silver though....

But I was gamblin a bit there......and it anit over yet :)

[Horn]

The dollar needs about all the help it can get, and it does get it still.

Creating many enemies in the same strokes, when it finally breaks big the only safe bet is to be where it isn't used locally.

[1970 Silver Art]

yep Im pretty much a joe six pack myself...just a dumb carpenter...

I Shoulda went with more gold and less silver though....

But I was gamblin a bit there......and it anit over yet :)



Yeah Stacker, I am also part of the joe six pack crowd. I am just a "FRN-Challenged" dumba$$ silver art bar collector that is trying to learn in life. Nothing to see here. Move on. ;D

BTW Stacker, Do not feel too bad about the DOG because the DOG will have its day in the sun and its fame will last more than 15 minutes. Believe it.

[BoatingAccident]

Yeah Stacker, I am also part of the joe six pack crowd. I am just a "FRN-Challenged" dumba$$ silver art bar collector that is trying to learn in life. Nothing to see here. Move on. ;D

BTW Stacker, Do not feel too bad about the DOG because the DOG will have its day in the sun and its fame will last more than 15 minutes. Believe it.



Yup, joe six pack guy here too. Learning, making mistakes, learning from them...hoping the DOG will have his day in the sun too. ;D

[Libertarian_Guard]

Wait till government bond holders are defaulted upon, or asked to accept .20 on the dollar!

That will be GOLD'S day!

[osoab]

i don't think you will have joe six pack piling in to PMs, but i think you will see them remove themselves from the stock market.

this will lower volume + demand, and the market will turn lower. large position holders will then be forced to seek safety and go in to PMs.

whoever messed up today is going to get fort marcy parked.


I agree they won't pile into pms. They don't have that dough available because of that trip to Disney this summer.

What are they going to do, though, move money around in their 401ks? Where are they getting this money they have to move in & out of this market.

Most joe six packs don't have squat.

All is well. It was just a bad trader. Problem sovlved

[BoatingAccident]

All is well. It was just a bad trader. Problem sovlved



Yup, they fixed the glitch. All is well, afterall mistakes happen. I'm sure that trader just pushed the wrong button by accident, unknowingly causing the GREATEST drop in the dow in over 20 years, in just a matter of minutes.

It gives me a warm and fuzzy feeling of safety. If a banker accidently pushed the wrong button and wiped out all my digital frn's....they would fix the glitch in a heartbeat, I'm sure of it.

THIS is why I buy gold and silver. Day's like today.

[osoab]

All is well. It was just a bad trader. Problem sovlved



Yup, they fixed the glitch. All is well, afterall mistakes happen. I'm sure that trader just pushed the wrong button by accident, unknowingly causing the GREATEST drop in the dow in over 20 years, in just a matter of minutes.

It gives me a warm and fuzzy feeling of safety. If a banker accidently pushed the wrong button and wiped out all my digital frn's....they would fix the glitch in a heartbeat, I'm sure of it.

THIS is why I buy gold and silver. Day's like today.


I wall listening to WBBM out of Chicago driving home.
They said a trader pushed the button B for Billions instead of M for Millions.

WTF!!!

The Sheep will eat it up.

[BoatingAccident]

I wall listening to WBBM out of Chicago driving home.
They said a trader pushed the button B for Billions instead of M for Millions.

WTF!!!

The Sheep will eat it up.


I heard he pushed T for trillions first...but they upgraded that part of the system to include a voice warning. A sexy woman's voice says "are you sure you want to trade trillions? press y for a yes"

The guy apparantly pushed B accidently after that.


Maybe they should upgrade the whole system now.

[osoab]

I wall listening to WBBM out of Chicago driving home.
They said a trader pushed the button B for Billions instead of M for Millions.

WTF!!!

The Sheep will eat it up.


I heard he pushed T for trillions first...but they upgraded that part of the system to include a voice warning. A sexy woman's voice says "are you sure you want to trade trillions? press y for a yes"

The guy apparantly pushed B accidently after that.


Maybe they should upgrade the whole system now.


;D ;D ;D ;D ;D

The news report doesn't even make logical sense.

I think I give the general public more respect than they deserve if they can believe that crap.

[chad]

it's beyond funny they are trying to pass this off as if the way trading desks work is the same as an e-trade account.

most desks require MULTIPLE password intervention by superiors for any trade over 10 million dollars so.

you can't just "press the b key instead of the m key."

i can't even believe they are trying to run with this story. it's incredible.

[BoatingAccident]

it's beyond funny they are trying to pass this off as if the way trading desks work is the same as an e-trade account.

most desks require MULTIPLE password intervention by superiors for any trade over 10 million dollars so.

you can't just "press the b key instead of the m key."

i can't even believe they are trying to run with this story. it's incredible.


They can't be serious with that story, it's just too funny. I thought osoab was joking, if he's not, the nerve of the media trying to pass a story like that is just unfathomable.

[k-os]

If they were going to make up something stupid like an accident, they could have at least made it more plausible . . . like the dude put an extra zero. That would have been more believable than the "billions" vs. "millions" spelling error.

[osoab]

it's beyond funny they are trying to pass this off as if the way trading desks work is the same as an e-trade account.

most desks require MULTIPLE password intervention by superiors for any trade over 10 million dollars so.

you can't just "press the b key instead of the m key."

i can't even believe they are trying to run with this story. it's incredible.


It's the first time I have listened to this station. I was just looking for something that would give frequent news updates. It's an all news station. I was dumbfounded when they said it.
Even if they revise thir story later,it's still the disappointing that people will believe it.

[chad]

oh, they're totally going with the "b instead of m key" story. maria bartiromo said it at least 30 or 40 times today. no exaggeration, it was every other sentence out of her mouth.

it's akin to the airlines saying that flight XXX crashed because a seatbelt in row 5b broke.

[Trinity]

That story sounds as fake as the lone French rogue trader.



French rogue trader denounces 'banking orgy' in tell-all book

One month before he goes on trial, former French trader Jerome Kerviel is making his case in a tell-all book that likens trading to prostitution and hits out at the "big banking orgy."

Now an employee at a computer firm outside Paris, Kerviel depicts himself as a scapegoat of an out-of-control banking world in "L'Engrenage: Memoires d'un trader" (The Spiral: Memoirs of a Trader) that hits bookshops on Wednesday.

The 33-year-old ex-trader at Societe Generale bank describes the money-crazed atmosphere of trading rooms where managers congratulate top earners at the end of the day by comparing them to prostitutes.

"Bravo, you have been a good hooker today," is what bank managers would tell Kerviel on most nights, the ex-trader wrote in the book, excerpts of which have been released in the French press.

"In this big banking orgy, traders have the right to the same consideration afforded to any low-level prostitute: a quick recognition that the day's earnings were good."

Kerviel goes on trial on June 8, accused of gambling away billions of euros of SocGen's money in risky dealings that ended up costing the French bank 4.9 billion euros (US$6.5 billion) in losses.


http://www.etaiwannews.com/etn/news_content.php?id=1246157&lang=eng_news&cate_img=35.jpg&cate_rss=news_Business

[osoab]

I found the hard copy of what I heard.

From WBBM's site. I only posted up to the relevant part.

Wall St. rollercoaster: Stocks fall nearly 10 pct (http://hosted.ap.org/dynamic/stories/U/US_WALL_STREET?SITE=WBBMAM&SECTION=HOME&TEMPLATE=DEFAULT)


NEW YORK (AP) -- A computerized selloff possibly caused by a simple typographical error triggered one of the most turbulent days in Wall Street history Thursday and sent the Dow Jones industrials to a loss of almost 1,000 points, nearly a tenth of their value, in less than half an hour. It was the biggest drop ever during a trading day.

The Dow recovered two-thirds of the loss before the closing bell, but that was still the biggest point loss since February of last year. The lightning-fast plummet temporarily knocked normally stable stocks such as Procter & Gamble to a tiny fraction of their former value and sent chills down investors' spines.

"Today ... caused me to fall out of my chair at one point. It felt like we lost control," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago.

No one was sure what happened, other than automated orders were activated by erroneous trades. One possibilility being investigated was that a trader accidentally placed an order to sell $16 billion, instead of $16 million, worth of futures, and that was enough to trigger sell orders across the market

[Awoke]

We've seen similar days like this before, so nothing will change.

Silver is (was) the great prospect that everyone drools over until years begin passing by and the prospect doesn't reach its potential, therefore the label should now be suspect instead of prospect. Ag has to show me a lot before I get excited again.


Uhh, considering the POS has gone from $5 to $20+ in ten years, I would say it is still in the "Prospect" catagory... just MHO.

[Twisted Titan]

yep Im pretty much a joe six pack myself...just a dumb carpenter...

I Shoulda went with more gold and less silver though....

But I was gamblin a bit there......and it anit over yet :)



Yeah Stacker, I am also part of the joe six pack crowd. I am just a "FRN-Challenged" dumba$$ silver art bar collector that is trying to learn in life. Nothing to see here. Move on. ;D

BTW Stacker, Do not feel too bad about the DOG because the DOG will have its day in the sun and its fame will last more than 15 minutes. Believe it.




Silver may be a dog........But she wont leave you when you need her the most.

[StackerKen]

My faith in silver is restored once again with todays rebound. :D

[1970 Silver Art]

My faith in silver is restored once again with todays rebound. :D






I am glad to hear that Stacker. You gotta have nerves of steel in order to hang with the DOG because its behavior can be "volatile". ;D

[Awoke]

My faith in silver is restored once again with todays rebound. :D






I am glad to hear that Stacker. You gotta have nerves of steel in order to hang with the DOG because its behavior can be "volatile". ;D


I have a box full of the DOG, so it's not like I can just bail out like short hands.

* Still doesn't understand why DOG is always capitalized *

[1970 Silver Art]

My faith in silver is restored once again with todays rebound. :D






I am glad to hear that Stacker. You gotta have nerves of steel in order to hang with the DOG because its behavior can be "volatile". ;D


I have a box full of the DOG, so it's not like I can just bail out like short hands.

* Still doesn't understand why DOG is always capitalized *


That is just my way of emphasizing that silver is a DOG. ;D

[FunnyMoney]

I found the hard copy of what I heard.

From WBBM's site. I only posted up to the relevant part.

Wall St. rollercoaster: Stocks fall nearly 10 pct (http://hosted.ap.org/dynamic/stories/U/US_WALL_STREET?SITE=WBBMAM&SECTION=HOME&TEMPLATE=DEFAULT)


The B button for billions?

This is almost as good as when the Canadian mint said they "lost" 50 thousand bars of gold. Like the gold just walked off.
Some gold got up and started to walk out, and somebody pushed the E button for exit, and it was lost, all 50 thousand bars.

In the past, they always pressed the R button for "return to your seat", but this one time they pushed the E button.

So along with "my dog ate my homework" we now have the best 3 excuses ever invented.

[1970 Silver Art]

I found the hard copy of what I heard.

From WBBM's site. I only posted up to the relevant part.

Wall St. rollercoaster: Stocks fall nearly 10 pct (http://hosted.ap.org/dynamic/stories/U/US_WALL_STREET?SITE=WBBMAM&SECTION=HOME&TEMPLATE=DEFAULT)


The B button for billions?

This is almost as good as when the Canadian mint said they "lost" 50 thousand bars of gold. Like the gold just walked off.
Some gold got up and started to walk out, and somebody pushed the E button for exit, and it was lost, all 50 thousand bars.

In the past, they always pressed the R button for "return to your seat", but this one time they pushed the E button.

So along with "my dog ate my homework" we now have the best 3 excuses ever invented.


Here is the story of what really happened to the 50 thousand gold bars.............

The 50 thousand gold bars decided that they want to go out and enjoy the sunshine. So the gold bars walked out knowing that they have to return to the "Hag" in a few minutes so they needed to press the "R" button for Return to the "Hag". Not quite realizing their typo, The 50 thousand gold bars have "fat-fingered" the "B" button for Boat when they should have pressed "R" for Return to the "Hag". As a result of "fat-fingering" the "B" button,...................................well you know the rest. :'(

[Large Sarge]

here you go

[k-os]

I just received (anecdotal) proof that Joe Six Pack is starting to get in the game . . . my dad emailed me asking me for my gold dealer's information for his co-worker.

[JohnQPublic]

I just received (anecdotal) proof that Joe Six Pack is starting to get in the game . . .

I did?

[JohnQPublic]

here you go


Aren't we missing something in the circle of [financial] death?