"Ben Bernanke Has Never Gotten Anything Right," Peter Schiff Says: Fed Officials Respond

http://finance.yahoo.com/tech-ticker/article/379864/%22Ben-Bernanke-Has-Never-Gotten-Anything-Right%22-Peter-Schiff-Says-Fed-Officials-Respond?tickers=%5EDJI,%5EGSPC,SPY,TBT,TIP,GLD,FXI

Gold charts

1h chart

Price rice inside a channel. Not long ago price hits the "middle" of the channel. Now it must rice.
4h chart

Price rice inside a different channel. Price "hovers" at the top of the channel, we can see drop to the bottom of the channel, but we may very well see the price to test the top too - $1,203.00

Links

Marc Faber Sees War Against an Invented Enemy and a Big Financial Bust
http://globaleconomicanalysis.blogspot.com/2009/11/marc-faber-sees-war-against-invented.html

Marc Faber on the bankrupt banks, gold and money printing
http://arabianmoney.net/2009/11/25/marc-faber-on-the-bankrupt-banks/
video

Gold Hits New High
http://bonddad.blogspot.com/2009/11/gold-hits-new-high.html
gold technicals

Case-Shiller home prices rise again
http://themessthatgreenspanmade.blogspot.com/2009/11/case-shiller-home-price-rise-again.html

Readings

Silver bug David Morgan explains the gold price surge
http://arabianmoney.net/2009/11/22/silver-bug-david-morgan-explains-the-gold-price-surge/

Naomi Klein and Joseph Stiglitz on Economic Power
http://fora.tv/2008/10/20/Naomi_Klein_and_Joseph_Stiglitz_on_Economic_Power#fullprogram

Off topic:

Beware The Ice Age Cometh: Hackers Prove Global Warming Is A Scam
http://globaleconomicanalysis.blogspot.com/2009/11/hackers-prove-global-warming-is-scam.html

Jon Stewart on Silver Dome, Goldman Sachs and more
http://www.calculatedriskblog.com/2009/11/jon-stewart-on-silver-dome-goldman.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+CalculatedRisk+%28Calculated+Risk%29&utm_content=Google+Reader

Gold 4h

Top is probably in ~ 1,172.- , now a correction is due. Possible target is 1,140.-, but better to place order couple of bucks higher 1,142-1,145.

Disclosure - sold the speculative possition at ~ 1,158-1,166 area

Readings

India: the coming superpower
http://wallstreetpit.com/12291-how-could-india-possibly-overtake-china-within-the-next-100-years
Via: http://feedproxy.google.com/~r/Bearwatch/~3/hSfbe32Mltw/india-coming-superpower.html

Silver
http://feedproxy.google.com/~r/BiiwiicomNotes/~3/knRgSIHK8Jw/silver.html
17$

GSR - What's it mean?
http://feedproxy.google.com/~r/BiiwiicomNotes/~3/rljSye1_3NQ/gsr-whats-it-mean.html

Marc Faber Still Sees Some Opportunities in Stocks: Video
http://www.youtube.com/watch?v=WQRU2raejxQ&feature=player_embedded
Video

John Paulson to invest $250 million in his new gold fund
http://feedproxy.google.com/~r/RealityLenses/~3/4MHmQabpY_M/john-paulson-to-invest-250-million-in.html

Forex Fridays
http://bonddad.blogspot.com/2009/11/forex-fridays_13.html
USD

Geithener Sends 403 Tons of US Gold to China
http://greatdepression2006.blogspot.com/2009/11/geithener-sends-403-tons-of-us-gold-to.html
Interesting view of the IMF gold sale.

Currencies versus Gold
http://feedproxy.google.com/~r/trendandvalue/~3/tH3tIFqwH-s/currencies-versus-gold.html

Peter Schiff November 9 2009 Fox Business - Fox Business

http://www.europac.net/Schiff-FBN-11-09-09_lg_FLV.asp
Mostly for gold and USD

Interview with Infosys boss.

http://cosmos.bcst.yahoo.com/up/player/popup/index.php?cl=16715884
I remember working with them in early 2004 or 2005 :-)

Gold 4h

The gold rices to the upper boundary line (upper blue line). Note this is back inside the wedge (not shown).
Now a decline is due, at least bach to bottom blue line, or may be to brown line.

Disclosure: Sold rest of my speculative possition @ 1,032.- Looking to buy back at not specified level.

Touradji Buys Barrick Gold Shares, Sells Gold ETF

Looks like these guys doing same as Paulson did month ago.
Interesting why they choose Barrick, probably because of their hedge-book.
http://www.bloomberg.com/apps/news?pid=20601103&sid=aydy.U01wYx8

BA and Iberia agree merger deal

British Airways and Spanish airline Iberia say they have reached a preliminary agreement for a merger expected to be completed in late 2010.

http://news.bbc.co.uk/2/hi/business/8356780.stm

Interesting video

Gold 1d and 4h

Gold 1h

Parallel channel in blue, small bearish wedge in brown. Price is @ the top of the channel and must decline to the bottom.
Gold 4h

Same channel as on 1hour chart in blue. We can see how the bottom boundary acted as resistance for a while before price rise.

Big bearish wedge - top blue, bottom - brows is formed. Price objective of the wedge is $1,000.

Short term targets - $1,110 and $1,102+.

Best development will be price to fell to 1,103 area and then to rise to upper blue line. This will invalide the wedge.

Disclosure: looking to buy at $1,108, then at $1,103.

Readings

Mr. Jones & Me
http://feedproxy.google.com/~r/BiiwiicomNotes/~3/30B4QDX9Mtc/mr-jones-me.html
Dow

SLW - Dat look bullish to you?
http://feedproxy.google.com/~r/BiiwiicomNotes/~3/r8xe_qI4NkM/slw-dat-look-bullish-to-you.html

GG trade over
http://feedproxy.google.com/~r/BiiwiicomNotes/~3/V_wQgChRcm0/gg-trade-over.html

Gold & Gold Ratios - Where's the bull market?
http://feedproxy.google.com/~r/BiiwiicomNotes/~3/fVk9b7Gk-Rw/gold-gold-ratios-wheres-bull-market.html

Hewlett-Packard to Acquire 3Com
http://www.nytimes.com/2009/11/12/technology/companies/12hewlett.html?partner=yahoofinance

SP Futures Daily Chart
http://jessescrossroadscafe.blogspot.com/2009/11/sp-futures-daily-chart_11.html
spx

Sound Money Candidates Running For Congress
http://globaleconomicanalysis.blogspot.com/2009/11/sound-money-candidates-running-for.html

Marc Faber forecasts short-term rebound for US dollar
http://arabianmoney.net/2009/11/10/marc-faber-forecasts-short-term-rebound-for-us-dollar/
audio, reprinted

7 November, 9 November, 10 November related links

Some links are in Bulgarian

Domino Wall Berlin
http://www.youtube.com/watch?v=pkGQwOXBJQo
video

Uncle Jay Explains: Nov. 9, 2009
http://www.youtube.com/watch?v=pK1sA707Ycw&feature=youtube_gdata
even Uncle Jay speak for Berlin Wall ;)
video

При соца беше мизерия, каквото и да се приказва
http://e-vestnik.bg/7576/pri-sotsa-beshe-mizeriya-kakvoto-i-da-se-prikazva/

33 години власт на Живков - феномен в човешката история
http://e-vestnik.bg/7563/33-godini-vlast-na-zhivkov-fenomen-v-choveshkata-istoriya/

Падането на Живков - на 10 ноември се случи немислимото
http://e-vestnik.bg/7560/padaneto-na-zhivkov-na-10-noemvri-se-sluchi-nemislimoto/

Като слънцето и въздуха за всяко живо същество
http://zaprehoda.blog.bg/biznes/2009/11/07/kato-slynceto-i-vyzduha-za-vsiako-jivo-syshtestvo.431083
много яко :-)

20 години свобода - чалга и с 308 км/ч по магистралата
http://e-vestnik.bg/7564/20-godini-svoboda-chalga-i-308-kmch-na-magistralata-s-audi-r8/
308 km/h @ 7,900 rpm - very stupid
video

Pink Floyd - Another Brick in the Wall
http://e-vestnik.bg/7567/pink-floyd-another-brick-in-the-wall/
video

Readings

The eye of the storm
http://feedproxy.google.com/~r/Bearwatch/~3/pPEzpahG474/eye-of-storm.html

Going to fight the pig a bit longer...
http://feedproxy.google.com/~r/BiiwiicomNotes/~3/uSwINASDgGU/going-to-fight-pig-bit-longer.html

RUT roh
http://feedproxy.google.com/~r/BiiwiicomNotes/~3/j4dYZ_12dVU/rut-roh.html

Dollar getting rear end kicked again after IMF, Geithner comments
http://interestrateroundup.blogspot.com/2009/11/dollar-getting-rear-end-kicked-again.html

Dubai heading for hotel overcapacity in 2010
http://arabianmoney.net/2009/11/10/dubai-heading-for-hotel-overcapacity-in-2010/

Inflation or Deflation - 8
http://feedproxy.google.com/~r/RealityLenses/~3/Fnfgdr5wo50/inflation-or-deflation-8.html

Hourly Action In Gold From Trader Dan
http://jsmineset.com/2009/11/09/hourly-action-in-gold-from-trader-dan-180/
and old one:
http://jsmineset.com/2009/11/06/hourly-action-in-gold-from-trader-dan-179/

Secret plan to defend the euro against the falling dollar
http://arabianmoney.net/2009/11/10/secret-plan-to-defend-the-euro-against-the-falling-dollar/
EUR/USD = 1.50

How American Health Care Killed My Father
http://www.cato.org/event.php?eventid=6597
Featuring David Goldhill, Author of "How American Health Care Killed My Father," The Atlantic, September 2009; and Michael F. Cannon, Director of Health Policy Studies, Cato Institute, and co-author of Healthy Competition: What's Holding Back Health Care and How to Free It.
MP3 available as well

Sri Lanka purchase & more

After India, more governments move out of the dollar. Sri Lanka will buy 5 tons.

Gold breaks $1,100
http://finance.yahoo.com/news/Gold-breaks-cnnm-4046795075.html?x=0&sec=topStories&pos=4&asset=&ccode=

Sri Lanka follows Indian move to buy gold
http://www.lankaeverything.com/index.php?option=com_content&view=article&id=1035:by-joe-leahy-in-mumbai&catid=24:business&Itemid=150

Gold price hits record after 'Sri Lanka purchase'
http://uk.news.yahoo.com/18/20091106/tbs-gold-price-hits-record-after-sri-lan-5268574.html

Sri Lanka central bank to relax exchange controls

http://www.lankabusinessonline.com/fullstory.php?nid=825046972

...and...

Indonesian local governments to pay $391m for stake in local Newmont unit

http://www.mineweb.com/mineweb/view/mineweb/en/page34?oid=92045&sn=Detail

Unemployment rate hits 10.2%, worst since 1983

http://finance.yahoo.com/news/Unemployment-rate-hits-102-cnnm-1234085882.html?x=0&sec=topStories&pos=main&asset=&ccode=

interesting what John Williams have to say about it. 15 % , 18 % ?
of cource is real recovery begins then employment will be overstated, but I believe we are far away from real recovery :)

Jim Rogers on Nouriel Roubini

http://themessthatgreenspanmade.blogspot.com/2009/11/jim-rogers-on-nouriel-roubini.html


I am publishing this one more time, because I believe the interview must be hear.

Readings

Jim Rogers on Nouriel Roubini
http://themessthatgreenspanmade.blogspot.com/2009/11/jim-rogers-on-nouriel-roubini.html
Very good. Must listen.
Audio

Contrarian Jim Rogers backs a US dollar rally
http://arabianmoney.net/2009/11/04/contrarian-jim-rogers-backs-a-us-dollar-rally/
video

Bob Prechter sees major deflation, dollar rally, market crash
http://arabianmoney.net/2009/11/05/bob-prechter-sees-major-deflation-dollar-rally-market-crash/
video

The significance of the IMF-RBI gold sales
http://themessthatgreenspanmade.blogspot.com/2009/11/significance-of-imf-gold-sales.html
Important chart there

The Long Bond
http://feedproxy.google.com/~r/BiiwiicomNotes/~3/cTBY5bsVdOY/long-bond.html

SPX still on message
http://feedproxy.google.com/~r/BiiwiicomNotes/~3/RdbjxfV1-OE/spx-still-on-message.html
H&S in SPX, but short term bullish

Bank of England guns the printing press
http://themessthatgreenspanmade.blogspot.com/2009/11/bank-of-england-guns-printing-press.html

No change from the Fed
http://themessthatgreenspanmade.blogspot.com/2009/11/no-change-from-fed.html

Forex Fridays
http://bonddad.blogspot.com/2009/11/forex-fridays.html
USD

CDE

interesting development with CDE

Note - Chart was done 2 days ago.

Gold 4h

The blue line could be broken or not (yellow mark).

Uncle Jay explains... the decline :-)

Gold...

... just hit 1,092.75 USD...

Readings

Gold - Somebody send this to Roubini
http://feedproxy.google.com/~r/BiiwiicomNotes/~3/ZY26IXHigPI/gold-somebody-send-this-to-roubini.html

US Dollar Very Long Term Chart
http://feedproxy.google.com/~r/JessesCafeAmericain/~3/_fil_7ZBVt0/us-dollar-very-long-term-chart.html

Ten Things Not to Like About the US Government Policy Actions Known as "The Bailouts"
http://feedproxy.google.com/~r/JessesCafeAmericain/~3/uOk5cRhd13s/ten-things-not-to-like-about-us.html

Market Perspective from the Daily Charts
http://feedproxy.google.com/~r/JessesCafeAmericain/~3/vjz7s7v49ss/market-perspective-from-daily-charts.html
Stockmarket charts...

Why is Buffett paying $26bn cash for clunkers?
http://arabianmoney.net/2009/11/04/why-is-buffett-paying-26bn-cash-for-clunkers/

What is Money and How Does One Measure It?
http://globaleconomicanalysis.blogspot.com/2009/11/what-is-money-and-how-does-one-measure.html

A "limit up" of $50 a month for gold?
http://themessthatgreenspanmade.blogspot.com/2009/11/limit-up-of-50-month-for-gold.html

Hourly Action In Gold From Trader Dan
http://jsmineset.com/2009/11/03/hourly-action-in-gold-from-trader-dan-178/

Market Commentary From Monty Guild
http://jsmineset.com/2009/11/03/market-commentary-from-monty-guild-51/
nice chart of US debt

Recent gold development...

Misc:
Looks like IMF gold sale did not affected the market as most people thought :) . Nor the buyer was China...
My calculations shows that gold was sold @ ~ 1070 USD area. This was over the market price ~ 1055 at that moment. Gold immediately rised, but currently is 1085.

Gold 4h:

here we had the triangle, there is no doubt that the triangle is broken now. Parallel blue lines act as support / resistance, and upper blue line indeed stopped rise, at least for a while.

Gold 1h:

here on 1h chart we can see the rising channel (blue). It was a bearish wedge for a moment, but it was broken from the "wrong" site. Deja vu :-) . It once again act as resistance.
I am expecting that gold will correct a little bit, at least to 1066 before future rise.

Disclosure:
Sold my speculative possition @ 1073

IMF / India Gold Sales calculations

b = 6.7
M = 6,700,000
B = 6,700,000,000
ton = 200
kg  = 200,000
gr  = 200,000,000
oz  =   6,250,000

---

$ 1,072.00 / oz

---

Notes: Calculation is done with 1 oz = 32 g.

IMF sells India 200 tonnes of Gold for $6,7bn

The International Monetary Fund has sold 200 tonnes of gold to the Reserve Bank of India for $6,7 billion, quietly executing half of a long-planned bullion sale that has threatened to slow gold’s ascent.

http://www.businessday.co.za/Articles/Content.aspx?id=85875

This doesn't surprise me at all. If is not China, will be India... :)

Readings

Paul Tudor Jones Says Now Is Time, Place for Gold as an Asset
http://www.bloomberg.com/apps/news?pid=20601014&sid=anNG9T__.c_M

Commercial lending giant CIT files bankruptcy
http://www.msnbc.msn.com/id/33576310/ns/business-us_busines

Nine More Banks Fail with CIT a Packaged Bankruptcy While Gold Shines in a Jobless Recovery
http://feedproxy.google.com/~r/JessesCafeAmericain/~3/1_WrjZ8pkyI/nine-more-banks-fail-with-major-cit-on.html

CIT to Carpet Bomb Middle American Business
http://jsmineset.com/2009/10/31/cit-to-carpet-bomb-middle-american-business/

Peter Schiff Responds to Mike Norman with Don Harrold Part 1
http://www.youtube.com/watch?v=NHWkXt1_oLg&feature=youtube_gdata
Video, part 2 is linked from there too.

Russia considering gold sale
http://www.businessweek.com/ap/financialnews/D9BK5NHO0.htm

Obama creates 640,329 jobs at a cost of $323,739.83 per job
http://globaleconomicanalysis.blogspot.com/2009/10/obama-creates-640329-jobs-at-cost-of.html

Ron Paul on Forbes: Be Prepared For The Worst; On Larry King Discussing Michael Moore
http://globaleconomicanalysis.blogspot.com/2009/11/ron-paul-on-forbes-be-prepared-for.html

Two stock market comparisons to the 1930s
http://arabianmoney.net/2009/11/02/two-stock-market-comparisons-to-the-1930s/

Australian Dollar -- AUD/USD weekly chart
http://feedproxy.google.com/~r/trendandvalue/~3/IA1gRsNmZ_g/australian-dollar-audusd-weekly-chart.html
AUD/USD

Monthly Charts From Trader Dan
http://jsmineset.com/2009/10/31/monthly-charts-from-trader-dan/
PDF

FDIC Bank Failure Update
http://feedproxy.google.com/~r/CalculatedRisk/~3/VrVg3JxKoTY/fdic-bank-failure-update_31.html

Cartoon: Recession is Over!
http://feedproxy.google.com/~r/CalculatedRisk/~3/jAbQW5ge0uo/cartoon-recession-is-over.html