Fraud @ Citi ?

"Dear Citigroup Customer ...." by Mish
http://globaleconomicanalysis.blogspot.com/2008/03/dear-citigroup-customer.html

Explanation why Gold fall?

From Kereport:

"Greg McCoach continues his discussion from the weekly show about this past week's strange market behaviour."

http://www.kereport.com/WeekendSpecial/WS032208-1.mp3

According to him, Bear Stearns had huge gold position, which was sold.

The Laffer Curve

The Laffer Curve, Part I: Understanding the Theory
http://www.youtube.com/watch?v=fIqyCpCPrvU

The Laffer Curve, Part II: Reviewing the Evidence
http://www.youtube.com/watch?v=YsB_rnzBA08

The Laffer Curve, Part III: Dynamic Scoring
http://www.youtube.com/watch?v=ATDzKSOQCi8

Gold Market Update by Clive Maund

Gold Market Update by Clive Maund

http://www.safehaven.com/article-9757.htm

Never liked him, but chart looks good.

Weekend song - Pet Shop Boys

CIT

Tighter credit markets squeezing CIT by Mike Larson
http://interestrateroundup.blogspot.com/2008/03/tighter-credit-markets-squeezing-cit.html

CIT Taps Credit Lines To Finance Operations by Mish
http://globaleconomicanalysis.blogspot.com/2008/03/cit-taps-credit-lines-to-finance.html

2007 Stock Market Returns

2007 Stock Market Returns
#	Country	% Return
1	China	179.8
2	Ukraine	135.4
3	Slovenia	96.9
4	Nigeria	90.9
5	Botswana	86.2
6	Croatia	80.8
7	Brazil	72.4
8	Turkey	71.9
9	Mauritius	70.0
10	India	65.2
11	Oman	61.9
12	Bulgaria	60.1
13	Egypt	56.3
14	Hong Kong	55.5
15	Serbia	55.0
16	United Arab Emirates	51.8
17	Indonesia	45.5
18	Peru	45.0
19	Philippines	44.3
20	Israel	43.7
21	Saudi Arabia	40.9
22	Malaysia	40.6
23	Pakistan	38.5
24	Cyprus	36.6
25	Jordan	36.3
26	Botswana	35.7
27	Germany	35.2
28	Qatar	34.3
29	Thailand	32.7
30	Kuwait	32.0
31	South Korea	31.4
32	Czech Republic	30.7
33	Norway	30.4
34	Greece	30.3
35	Portugal	28.5
36	Romania	27.7
37	Lebanon	26.8
38	Singapore	26.5
39	Ghana	25.6
40	Canada	25.1
41	Bahrain	24.6
42	Australia	24.1
43	Vietnam	23.6
44	Poland	23.6
45	Luxembourg	22.9
46	Slovakia	21.5
47	Chile	21.4
48	Russian Federation	19.2
49	Tunisia	19.0
50	South Africa	18.7
51	Spain	18.6
52	Denmark	16.2
53	Hungary	15.9
54	Lithuania	15.4
55	Netherlands	15.1
56	Namibia	14.5
57	Finland	14.3
58	Malta	12.0
59	France	12.0
60	Austria	11.8
61	Iceland	11.5
62	Mexico	10.8
63	Taiwan	9.3
64	New Zealand	8.5
65	United States	6.4
Source: Bloomberg

Fed to take riskier mortgages to aid dealers

Fed to take riskier mortgages to aid dealers
http://www.reuters.com/article/marketsNews/idUKN2022117520080320?rpc=44
hmmm...

Oil

Oil under $100 mark.

EB8Kip 99.38-99.43
ET8Kip 100.21-100.27

Mainstream media and Peter Schiff

http://www.europac.net/Schiff-FBN-3-18-08_lg.asp (movie)

EUR/USD long term

EUR/USD 1d 1 day chart shows many support levels,
1.54 is important support too is not shown.

---

EUR/USD 4h 4h chart suggest EUR bottomed.

Very good charts

Today’s Charts by trendsman
http://trendsman.com/?p=615

How quickly the markets forget...

Wednesday, March 19, 2008 Today's Markets by bonddad
http://bonddad.blogspot.com/2008/03/todays-markets_19.html

Some transactions conducted

Bought GLD, MNF,
also SSRI and PBR from yesterday.

Bye, Sir Artur

FED cuts...

We got 3/4 point,
dollar little bit up.

Next Bailout Candidate?

My comment:
Next Bailout Candidate?

---

Lehman Profit Falls 57 Percent
Shares of Lehman are up 13 percent in premarket trading.
http://biz.yahoo.com/ap/080318/earns_lehman.html

My new Bulgarian article in novini.net

Bear Stearns - Communism in motion :) by me - Nikolay Mihaylov
http://www.novini.net/2008/03/bear-stearns.html
(article is in Bulgarian language)

Funny video - Cramer and BSC

Readings...

Now Presenting: Deflation! by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/253228571/now-presenting-deflation.html

The US Dollar Index: The Bear Market Carries On! by Peter Zihlmann
http://www.safehaven.com/article-9718.htm

FOMC trade

+------+---------+-------+---------------+
: Rate : USD     : Pips  : Remark        :
: Cut  : React.  :       :               :
+------+---------+-------+---------------+
: 0.00 : bullish : 50+++ :               :
: 0.25 : bullish : 50++  :               :
: 0.50 : bullish : 50+   :               :
: 0.75 : watch   :       : Expected      :
: 1.00 : bearish : 50+   : Expected 100% :
: 1.25 : bearish : 50++  : Expected 22%  :
+------+---------+-------+---------------+

Bear

Almost 90% down :P

Jim Rogers for Hellicopter drops

Jim Rogers video:
http://www.cnbc.com/id/23588079 (see the video, not the article itself)

Week open

Gold hits $ 1,032, now @ $ 1,022

Silver @ $21.15

USD/CHF - parity (0.98)

EUR/USD - hit 1.59.02, now back to 1.57.60-90

USD/BGN hits 1.23 lv.

Readings...

Jim Cramer's Stop Trading! Buy Bear Stearns
http://www.thestreet.com/_tscwrap/funds/stoptrading/10364371.html

Bear Stearns Bankruptcy Looms by Mish Shedlock
http://globaleconomicanalysis.blogspot.com/2008/03/bear-stearns-bankruptcy-looms.html

Global "Oil Shock" Rattles World Stock Markets by Gary Dorsch
http://www.safehaven.com/article-9699.htm
(interesting but very long :-) )

Doji by Lynn T
http://www.safehaven.com/article-9709.htm
(call for bottom in S&P500)

Honest Money Gold & Silver Report by Doug Gnazzo
http://www.safehaven.com/article-9703.htm
(very good report as usual)

Gold weekly close

Gold closes the week over $1,000

Gold Stocks: Boom or Bust?

Very good article, including interesting charts:
Gold Stocks: Boom or Bust? by Alex Wallenwein
http://www.safehaven.com/article-9693.htm

Bears eat Bear Stearns

Bear Stearns is down almost 40%
See Information in Yahoo!

My desktop

Gold

Gold is quadruple digit now:
1,005.35

Weekend song - Emil Dimitrov

Emil Dimitrov is probably the best Bulgarian singer for all times...

---

And this week, because gold pass $1,000 for first time, you will get extra song:
Here you are one more song from Emil Dimitrov

No inflation :)

Extra, extra, US inflation defeated.
Core Rate CPI is now 0.00 %

---

No inflation in February? by Mike Larson
http://interestrateroundup.blogspot.com/2008/03/no-inflation-in-february.html

...and...

U.S. Dollar Intervention Madness by Mish Shedlock
http://globaleconomicanalysis.blogspot.com/2008/03/us-dollar-intervention-watch.html

Oil very short term

Blue support line is perfect, it was tested 4 times.
Brown line suggest wedge, with downsize to about $100 level.

EUR/USD - 4h

Lately I paid more attention to Gold, oil and minning stocks. Same time there was good rally in EUR as well. I miss it. In fact I did no trade this month.

Lets check now EUR/USD 4h.
MACD is still positive, but it is close to negative cross. RSI is once again positive, but is headed down.

On the chart - there are a blue trendline act as support, as well brown line, which may be broken any moment (actually price fell to 1.55.60, and is broken now). The price may comming to blue line or little bit down to 50 day MA - 1.54.10 or 1.53.70. - I believe those levels will be good buy. Even now may be EUR going there, I do not think shorting EUR is a good idea.

From other side, pink line suggest there is a wedge in EUR/USD. The wedge suggest price of 1.47. I do not believe we will see something like this, unless Trichet do something stupid.

Today we will have CPI data from US. This may be the turning point, we will see where the EUR/USD going next.

Update:
Brown trendline holded until now.

Readings...

February foreclosures up 60% YOY by Mike Larson
http://interestrateroundup.blogspot.com/2008/03/february-foreclosures-up-60-yoy.html

A bold call from S&P? Or a premature one? by Mike Larson
http://interestrateroundup.blogspot.com/2008/03/bold-call-from-s-or-stupid-one.html

S&P Provides Comic Relief by bonddad
http://bonddad.blogspot.com/2008/03/s-provides-comic-relief.html

Time to Buy Precious Metal Stocks? by Peter Zihlmann
http://www.safehaven.com/article-9687.htm

Stockexchange transactions

Bought:
PBR @ 110

Sold:
MFN @ 13.21
SSRI @ 37.25

Dow decline...

This was send to my attention from a friend.

Dow is nothing but bearish.
Probably it will say hello to 10,500 level soon.

---

Day Chart:

---

Week Chart:

---

P&F Chart:

gold

999.63

gold

999

Oil down?!?!? - what idiots

Oil is actually down today?!?!

Yahoo top story

Bernanke, what do you expect?!?

A Golden Future for Silver

A Golden Future for Silver by Roy Martens
http://www.safehaven.com/article-9670.htm

Some charts from Bonddad

Dollar:
http://bonddad.blogspot.com/2008/03/closer-look-at-dollar_10.html

Oil:
http://bonddad.blogspot.com/2008/03/closer-look-at-oil-market.html

Trade

Sold the PWE @ 113.30 for a small profit...
I believe I will buy it in 2-3 days @ 110...

ET8Jip 108.65

Margin Selling Chain Reaction

Michael Shedlock on margin calls again:
Margin Selling Chain Reaction
http://globaleconomicanalysis.blogspot.com/2008/03/margin-selling-chain-reaction.html

Quote

My friends, we live in the greatest nation in the history of the world.

I hope you'll join with me as we try to change it.

- Barack Obama

Stockexchange sell-off...

Bought some Silver Standard (SSRI) @ 35,
it raise sharply and I can not bought it @ 34.30.

also have some PBR from Friday (not posted in the blog)...

Strange oil raise and PBR is almost flat
ET8Jip 106.75-106.83

Oil and Gold link on the left

Realtime Oil prices works again,
is no WTIC, but second price is very close to WTIC.

Aaron Ruseau & Dr.Ron Paul

Weekend song - Tangra

Tangra - Bogatstvo (Wealth)
The song is from middle 1980's,
The real wealth not to have money, but a "window with million stars on the sky" :)

S&P in EUR :)

Picture du Jour: Plunging Dollar Erodes Non-US Investors' Returns by Prieur du Plessis
http://www.safehaven.com/article-9638.htm

Readings...

MBA: Delinquencies, foreclosures rise again in Q4 2007 by Mike Larson
http://interestrateroundup.blogspot.com/2008/03/mba-delinquencies-foreclosures-rise.html

Ambak "Bailout" Lands with Big Thud by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/246376386/ambak-bailout-lands-with-big-thud.html

It's the Leverage, Stupid by bonddad
http://bonddad.blogspot.com/2008/03/its-leverage-stupid.html

The US Says It's Supply; OPEC Says Its the Dollar by bonddad
http://bonddad.blogspot.com/2008/03/us-says-its-supply-opec-says-its-dollar.html
(oil and usd)

EUR/USD

These days I am focused on stocks,
however, I just saw that EUR/USD hit 1.53.00 today!?!?!

The TOP 10 ETF Performance YTD

1. ETMSF (ETFS PHYS PALLADIUM) 48.88%
2. ETSLF (ETFS PHYS PLATINUM) 48.80%
3. ECYIF (ETFS SUGAR) 34.375%
4. SLV 33.497%
5. ETSCF (ETFS COFFEE) 32.60%
6. DBS 31.891%
7. ETFDF (ETFS COTTON) 31.008%
8. GEIGF 29.63%
9. RJZ 27.030%
10. JJM 27.769%

(from a friend)

Readings...

Bernanke Asks Taxpayers To Bail Out Banks by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/245709439/bernanke-asks-taxpayers-to-bail-out.html

---

Interest Rate Policy Madness by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/245578693/interest-rate-policy-madness.html

---

Elliott Wave Count on Gold by David Petch
http://www.safehaven.com/article-9619.htm
(if you can understand anything of it)

Stockexchange sell-off...

Bought some PWE (Penn West) @ 27.80 and some MFN (Minefinders) @ 12.00
Hope MFN will go future down, to fill the gap (if there is one), so I can buy some more.

Cartoon from a friend

Poll results

A fiscal stimulus was proposed to keep US economy growing.
If you would US citizen, what you will do with those $300 ?

---

• Buy 1/4 oz gold coin 7 (41%)
• Buy a X-Box :-) 4 (23%)
• Pay my morTgage 3 (17%)
• Buy a half share of Google 2 (11%)
• Fill my cars tank 1 (5%)

VIDEO: G Edward Griffin - Creature From Jekyll Island

old, but gold...
http://video.google.com/videoplay?docid=6507136891691870450

Long weekend

While I am on long weekend, I notised Silver is @ $20+, and Gold hits $989...
I tried to buy Minefinders shares, but they skyrocketed with 7%...