Top Leaderboard 728x90 Advertisement Space

Advertising on Insights is good for you.

Monday, July 19, 2010

Reality is up for grabs

A major break in the dollar’s counter trend rally goes by without a headline whimper.

U.S. dollar ETF (UUP):

Meanwhile, gold and the gold shares decline during a paper operation that is clearly supported by strategically generated headlines. No cares to notice that the retest of May lows is occurring on a fraction of the volume created during their initial formation. This lack of participation suggests waning downside energy.

Gold Miners Index ETF (GDX):

The whole setup reminds of the dialog between Trapper and Hawkeye during Season III episode Iron Guts Kelly in which Trapper suggests that reality is up for grabs.

Trapper: I got a bad taste in my mouth. I'm gonna go gargle with a martini.
Hawkeye: There you go, hiding behind booze again, afraid to face reality.
Trapper: Reality is up for grabs. One man's reality is another man's fantasy... (he trails off, realizing the two gorgeous nurses behind them)
Hawkeye: Right. You take the reality one, I'll take the one with the big fantasy.

Reality is up for grabs. Today’s casino-style markets profit from confusion, misdirection, and degree of difficulty in reading the message of the markets.

No comments:

Post a Comment

The comment section is intended to extend and expand discussions beyond the scope of the original posts in order to promote the exchange of ideas and thoughts. All posts must be respectful or membership will be immediately revoked. Please consult our disclaimer section before joining and posting comments. Thank you for your contribution.

Note: Only a member of this blog may post a comment.

Post a Comment