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pmbug said:
Dimon sold $150m JPM stock...
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only 10% of his holdings and from what I read it's the 1st time in 18 years that he has sold any shares. He's 67 and probably retiring at some point in the next few years. Upkeep on Mega yachts and homes in the Hamptons is getting very expensive. His salary is only 36 million a year and that just doesn't go as far as it used to.
Of course when it comes to slimey scum sucking bankers he is at the top of the list.
 
Goldhedge said:
In a real world there would be no market manipulation.
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Is it manipulation or inflation? Inflation is killing the miners. Higher costs for absolutely everything involved in mining while the mines themselves are an asset worth less and less every year due to the resource being depleted.
Gold and silver have held up remarkably well all things considered. They have been in a very long period of consolidation and when the bull is finally released it will be epic. 150,000 gold and 10-15,000 silver by the time this ends.
 
I liked this chart from Rafi today but I'm not entirely sure how it was created. Basically shows that gold is just right where it was when taken off the gold standard at $35 / oz. But it's a long, looooooong triangle that is about to break.

1708745935008.png
 
Voodoo said:
I liked this chart from Rafi today but I'm not entirely sure how it was created. Basically shows that gold is just right where it was when taken off the gold standard at $35 / oz. But it's a long, looooooong triangle that is about to break.

View attachment 12130
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Inflation adjusted is always a bit of a wet finger in the air measure, but I will take it.
 
Who thinks this market is being pumped until the election?

Trump 'wins' and then they let the market crash - blaming Trump for the fall?
 
Voodoo said:
I liked this chart from Rafi today but I'm not entirely sure how it was created. Basically shows that gold is just right where it was when taken off the gold standard at $35 / oz. But it's a long, looooooong triangle that is about to break.

View attachment 12130
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When I hear inflation adjusted anything I run the other way. Everything including inflation is already priced into the charts.
 
Lancers32 said:
When I hear inflation adjusted anything I run the other way. Everything including inflation is already priced into the charts.
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I don't know what they used but its priced in 1959 dollars. That goes to show that gold has gone no where since they basically pegged the dollar to gold in 1931. The price rigging schemes have functioned perfectly, in other words.
 
Chip stocks are pumping because of AI mania, not Bitcoin.
 
Lancers32 said:
Everything including inflation is already priced into the charts.
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Yes, but it is an attempt to normalise the chart by holding value constant. In theory, I suppose gold should be a flattish line until we hit real supply issues. It's all rubber numbers anyway, so I get your reservations. More a curiosity than a tool.
 
As Macy's chases sales growth, the department store operator said Tuesday that it will close about 150 of its namesake stores and open more shops with better locations or that sell luxury goods.

The changes reflect a focus on what's working at Macy's — higher-end department store Bloomingdale's and beauty chain Bluemercury — and what's not — its namesake stores, particularly the ones at struggling malls. In its holiday quarter results posted Tuesday, the retailer said its Macy's department stores performed worse than both Bloomingdale's and Bluemercury.
...
The company plans to close about 150 stores, including 50 that will close by early 2025. It has not revealed those locations but said they are "unproductive."

The stores that it had already said would be shuttered are located in Arlington, Virginia; San Leandro, California; Lihue, Hawaii; Simi Valley, California, and Tallahassee, Florida. The stores will close in early 2024.
...
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www.cnbc.com

Macy's will close about 150 department stores, but open new locations of better performing chains

Macy's plans to close some namesake stores and open new Bloomingdale's and Bluemercury locations that reflect what's working at the retailer.
www.cnbc.com www.cnbc.com

Focusing on high end/luxury because poor folk aren't buying anything...
 
Signs of a (hard) landing starting to percolate:
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The Consumer Confidence Index dropped in February to 106.7, down from January’s downwardly revised reading of 110.90, the Conference Board said on Tuesday. Consumer optimism dropped more than expected as economists were forecasting an increase to 114.8.
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www.kitco.com

Gold prices unable to break its chains above $2,050 even following drop in U.S. Consumer Confidence

The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
www.kitco.com www.kitco.com

...
Tuesday, the Commerce Department said that U.S. durable goods orders dropped 6.1% last month, following December’s downwardly revised 0.3% decline. The data was significantly weaker than expected as economists were looking for a decline of 4.9%.
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Even so, I think the markets got the message from the Fed. This isn't sufficient to move the needle on a rate cut decision. So, the holding pattern will continue until something breaks.
 
The feds repo program is ending soon as well. like within the next 2 weeks which is going to drain liquidity even more. All signs point to a downturn in the markets. Maybe not the Russel since it really hasn't participated in the recent rally. Nice cup and handle forming but want to see it break out before jumping in.
Screen Shot 2024-02-27 at 11.55.32 AM.png
 
I trust nothing in these shams called a market. Just checked a few numbers on the ETF, XRT. Retail. Should be boring right.

Well its top 2 holdings are shit stocks that soared today and almost straight up for months. ANF and CVNA.

XRT only has like 5.2 million shares. Short interest is reported like 17 million shares. How the fuck is that possible? The infinite money machine is glitching.
 
pmbug said:
Focusing on high end/luxury because poor folk aren't buying anything...
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In depression era's people spend more on quality but less over all. They want things that have a permanence to them, as they may not have the opportunity to acquire it again. Offering a quality/value option is the key to trading through depression.
 
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