Mother: .....And remember, the Lord loves a working man.Simply because the former Alaron trading operation is the crown jewel of the squid.
Navin: ........Lord loves a working man.
Father: ......And son, don't never, ever trust whitey.
-The Jerk (1979)
It was recently pointed out to me that my use of the "don' never, ever trust whitey" line had become reflexive.
When I asked how I was told, "Well it's like the Iranians and 'Death to America', repetition lessens the impact".
I was then directed to this video:
I won't be using the lines from The Jerk for a while.
Ahyhoo, here's Goldman via Pragmatic Capitalism:
Credit Suisse isn’t the only firm calling for a more rational approach to markets. John Noyce, Goldman’s trading desk technician says there are signs of a peak in the commodity complex (via Hedge Analyst):
- The Index has been above its 55-dma for an extreme, 101 consecutive daily closes. Gold and Silver managed 105 and 104 respectively before they closed back below the 55-dma. The %age the 55-dma stands above the 200-dma is also pretty “excessive”.
- Looking back over the past decade, these are very extreme setups, but is worth noting that the CRB doesn’t have the same track record of filling the gap to the 200-dma when it does eventually begin to correct lower as Gold and Silver do on an individual basis....MORE