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New Gold Fix Planned By LBMA In Desperate Attempt To Maintain Status Quo

Courtesy of ZeroHedge. View original post here.

Submitted by GoldCore.

The London Bullion Market Association (LBMA) is quietly planning its new gold fix in a desperate attempt to maintain the status quo. 

Queen_Gold

Queen Elizabeth Surveys Gold Bars in Bank of England Vaults

Reuters reported Friday that according to the LBMA, there are at least 15 companies interested in running the upcoming replacement to the London ‘Gold Fixing’ auction. Like the recently introduced replacement to the ‘Silver Fixing’ which is now being run by the CME Group and Thomson Reuters, the LBMA has appointed itself as the coordinator for a new London Gold Price auction and is currently soliciting Requests for Proposals (RfPs) from interested parties.

When the new silver fixing auction was being debated in the summer, the World Gold Council (WGC) took the initiative and organised a conference of gold market participants including miners and refiners to work out the key features of a new gold price auction. This WGC initiative appears to have been shot down by the LBMA who felt threatened that a gold mining representative organisation was muscling in on the London gold ‘price discovery’ mechanism.

In advance of the LBMA choosing the winning bid, which may well be CME Group/Thomson Reuters again, the LBMA will be holding another seminar for ‘market participants’ that will feature presentations from the short-listed candidates.

As per a similar LBMA Silver Price seminar that was held in June, the upcoming LBMA gold price seminar will no doubt include various concerned regulators attending as ‘observers’ such as the Bank of England and the Financial Conduct Authority (FCA), as well as the International Swaps and Derivatives Association (ISDA).…
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USDJPY Opens At 6-Year Highs, Extreme ‘Relative Strength’ Signals 30% Drop Potential

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

USDJPY has been on a tear in recent weeks. Since China unleashed QE-lite, JPY and CNY have greatly diverged with USDJPY breaking above 109 and pushing six-year highs. This recent 'relative strength' is the most extreme overbought for the currency pair since early 2001 – which saw USDJPY plunge 30% in the following six months. The tick-for-tick rise in Japan's stock market also broke a 9-month almost-perfect analog with the last time the nation raised its consumption tax.

Perhaps even more worrying in the world of FX trading, ECB Governing Council member Ignazio Visco told the G-20 that it may not need to add stimulus measures after steps in the past three months pushed down the euro noting that "there may not be a next step," since he explains, the ECB was "bold enough to reduce interest rates to a level that was unexpected to the market."

The extent of the exchange rate’s fall is "more or less, given the moves that were done between June and September, the right response," said Visco, who also heads Italy’s central bank, but added very Japan-like, "the ECB isn’t targeting any exchange-rate level." That is not what the EUR shorts will want to hear.

 

USDJPY is at six-year highs with RSI at its most extreme overbought since 2001 – which saw a 30% decline in the next 6 months.

 

9 months of almost perfect correlation with the period 17 years ago when Japan last raised its consumption tax has diverged dramatically in thge last few days as USDJPY exploded higher…

Its different this time… for now.

*  *  *

Then there is the EUR, which it appears was played by the ECB once again… (as Bloomberg reports)

The European Central Bank may not need to add stimulus measures after steps in the past three months pushed down the euro, said Governing Council member Ignazio Visco

 

“Inflation expectations have to be back where they were,” Visco said in an interview in Cairns, Australia, where he is attending a meeting of Group of 20 finance chiefs. “This doesn’t mean that there will be a next step. We have been bold enough to reduce interest rates to a level that was unexpected to the market.”

 

The single


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Dear Janet

Courtesy of ZeroHedge. View original post here.

Submitted by Bruno de Landevoisin.

 

 

Courtesy of the SlealthFlation Blog:





 

United States Federal Reserve                     September 22nd, 2014

20th Street and Constitution Ave NW

Washington, District of Columbia 20551

 

The Honerable Janet Yellen, Chairman

 

Dear Janet;   

   

If I may be so forward, as a concerned citizen of the United States of America, it is with great consternation that I feel compelled to write you the following distressing note.


Purposely degrading this magnificent Nation’s hard earned reserve currency status, which was so honorably passed on to you by previous generations who built this great country from the ground up through their virtuous and industrious blood, sweat and tears, only to then implement a disgraceful monetary policy that deliberately steals from future unborn generations in order to facilitate living standards beyond our means, so as to sustain an unearned, undeserved and unprincipled culture of grotesque illegitimate debt financed over-consumption, can only be characterized as a deplorable, misguided, unconscionable abomination of Biblical proportion.



,

Respectfully yours,

John Q. Savers

Citizen of the Constitutional Republic of the United States





Knife-Wielding Veteran Sniper Rushes White House, Wants To Warn Obama “Atmosphere Is Collapsing”

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Of the stories in the past two days, there is hardly anything more bizarre than that of Omar J. Gonzalez, 42, of Copperas Cove, a veteran had served three tours in Iraq — and relatives said served as a sniper — managed to jump over the White House fence, sprinted more than 70 yards across the Northern Lawn, got to the front double doors of the North Portico, turned the brass knob and stepped inside the vestibule. “There he was grabbed and subdued by an officer standing post inside the door.” He war carrying a folding knife with a serrated blade and was located just feet away from where Obama would have normally been, if only Obama had not just minutes ago taken the wife and kids for yet another weekend mini getaway.

A detailed breakdown of events from WaPo:

On Friday at about 7:20 p.m., Gonzalez did the unthinkable, authorities said. The 42-year-old from Texas climbed over the north fence line along Pennsylvania Avenue, toward the eastern side of the house’s circular driveway. His breach set off the standard security alarm across the compound. Officers rushed to the North Lawn but were unable to reach him on foot as he ran, arms pumping, threading the needle between the fountain and a security guard booth and ignoring their commands that he stop.

 

Officers at the scene considered Gonzalez to be unarmed and likely mentally disturbed, a law enforcement official familiar with the incident said, and thus a low risk. It turned out Gonzalez was carrying the knife in his pants pocket. One source familiar with the incident said a sniper on scene had Gonzalez in his rifle sights just in case.

Which is ironic since Gonzalez himself was supposedly a sniper in his tours of duty.

While initial reports said that Gonzalez had been unarmed, it was in the affidavit filed later in U.S. District Court by a Secret Service (summarized here) where we learned that Gonzalez was carrying a “VG-10 black folding knife,” a pocket knife with a 3.5-inch serrated blade, when he entered the White House.

According to WaPo, “a trained attack dog — the Secret Service’s fail-safe measure for stopping intruders when officers cannot — was not released…
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Tracking the Market with Social Media

Courtesy of Doug Short.

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.


The Trade Followers Momentum indicator for the S&P 500 Index (SPX) is showing uncertainty from market participants. The pattern currently being painted by 7 day momentum is usually indicative of traders chasing price. The consolidation and small dip in price over the past few weeks caused momentum to drop rapidly, then when the market recovered momentum shot upward. This behavior shows market participants are reacting rather than planning and executing. This puts some instability into the market as any change in news will cause swift changes in sentiment.

In mid August the indicators showed extreme overbought conditions for SPX. That has now been resolved, but no clear direction has been established yet. This is another sign of uncertainty by members of the Twitter and StockTwits communities.

Small cap stocks continue to underperform the general market, but are providing more guidance than SPX. The Russell 2000 index ETF (IWM) is currently painting a triangle in price and momentum on Twitter. The next direction of the market will likely be shown by which side of the triangle is violated.

Breadth continues to drift lower from high levels indicating that market participants are getting more selective in their purchases and also finding some short opportunities.

Support and resistance levels captured from the Twitter stream are generally positive with traders tweeting 2020, 2040, and 2050 as likely targets for SPX. The 2020 resistance level that has been in place since late August was reached this week and the market immediately pulled back. Support comes in at 2000 and the recent lows near 1980.

Strength from the sector ETFs show a rotation to Financials and Health Care. This is consistent with what I’m seeing when I look at the aggregated relative strength scores from individual stocks. Keep an eye on those sectors as they’ll need to continue to rally for the market to move higher.

Overall social media signals are showing hope for higher prices with some underlying nervousness from market participants. Small cap stocks, financials, and health care will most likely point the next direction so use them as your guide.


Blair Jensen is president of Trade Followers. The Trade Followers algorithm quantifies social media and creates stock market indicators that track the momentum of the crowd on Twitter and StockTwits.





Thinking about the Week Ahead

Courtesy of ZeroHedge. View original post here.

Submitted by Marc To Market.

The week ahead is sandwiched between last week, which featured an FOMC meeting, the launching a  new four-year funding scheme by the ECB and the Scottish referendum, and the week after that sees an ECB meeting and details about the ABS/covered bond purchase program, and the US monthly jobs report.  

 

The most important data in the week ahead comes from the eurozone.  The flash PMI reading is interesting in its own right.  In August, it stood at 52.5, the low for the year.  However, to keep it in perspective, the multi-year high was set in April at 54.0.  This is consistent with the weak and fragile expansion that prompted the OECD to cuts it forecast for this year’s growth to 0.8% from 1.2%.  Next year’s growth estimate was slashed to 1.1% from 1.7%, and that still might be a stretch.  

 

In light of the disappointing participation in the initial TLTRO offering, there is more talk that a sovereign bond purchase program is needed.  We warn against the false dichotomy.  There are other assets that the ECB could buy that may be less controversial on political and legal grounds than sovereign bonds.  These could include, bank bonds, corporate bonds and multilateral bonds (e.g., EU, ESM, EFSF).  The ECB could also take a page from the Federal Reserve during the Great Depression.    US banks were unwilling or unable to disintermediate between savers and investors, and the Federal Reserve stepped into the breach and loaned directly to small businesses, for example. 

 

More immediately, the ECB is unlikely to


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Pentagon Prepares To Unveil Syria War Plans As “Broad Coalition” Crumbles

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

A day after US ambassador to The UN Samantha Powers stated, "we will not do the airstrikes alone if the president decides to do the airstrikes," and Russia warned, "bombing Syria without the cooperation of Damascus can have destructive practical consequences on the humanitarian situation in Syria," it appears President Obama's grand strategy to combat IS via a 'broad coalition' of allies is flailing. While the WSJ reports, The Pentagon is preparing war plans in Syria that would include an intensive initial wave of strikes against Islamic State targets, Germany's Foreign Minister Frank-Walter Steinmeier explained today that providing air support or sending ground troops to fight Islamic State is "out of the question for us." For now, it appears, the only nation involved in the 'broad coalition' is France. Why? Because as we said yesterday, this is merely over fears of more BNPs. "A key component of this would be allied participation," said a U.S. official; does '1' ally count?

As The Wall Street Journal reports,

The U.S. is seeking commitments from allies to join in airstrikes on Syria before it launches attacks against Islamic State targets, American officials said, reflecting concerns about acting unilaterally.

 

The administration hopes that one or two allies will join in the initial wave of airstrikes, which could be launched as early as next week, these officials said.

 

President Barack Obama and other top U.S. officials are attending the annual United Nations General Assembly in New York this month, in part, to try and woo more partners to the U.S.-led coalition.

The Pentagon is preparing war plans in Syria that would include an intensive initial wave of strikes against Islamic State targets.

U.S. officials said adding allies would help spread the burden of the strikes. But far more important is the symbolism a joint strike would have, showing that the U.S. isn't acting unilaterally but has support from the international community.

 

"A key component of this would be allied participation," said a U.S. official.

As Bloomberg reports, Germany is "out"

Providing air support or sending ground troops to fight Islamic State in Iraq is “out of the question for us,” German Foreign Minister Frank-Walter


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LiBeRTY BeNT OUT oF SHaPe…

Courtesy of ZeroHedge. View original post here.

Submitted by williambanzai7.





Mid-Day Update

Reminder: David is available to chat with Members, comments are found below each post.

Click here for the full report.

To learn more, sign up for David’s free newsletter and receive the free report from All About Trends – “How To Outperform 90% Of Wall Street With Just $500 A Week.” Tell David PSW sent you. – Ilene





This Is Why China Russia & China Are Now “The Enemy”

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Submitted by Jim Quinn via The Burning Platform blog,

The suppression of gold prices is essential at all costs to the Anglo-American banking interests. The saber rattling and attempts to lure Russia and China into military conflict are about who controls the financial world.

Russia and China keep accumulating the eternal currency – gold.

 

 

The American Empire and their EU disciples continue to accumulate debt and print fiat currencies. Has fiat paper ever won out over gold in the long-run? Change is coming. Revolution is in the air.

You can sense the desperation of the ruling oligarchs. Their fiat world is beginning to crumble. But they will not go without a bloody fight.





 

Help One Of Our Own PSW Members

"Hello PSW Members –

This is a non-trading topic, but I wanted to post it during trading hours so as many eyes can see it as possible.  Feel free to contact me directly at jennifersurovy@yahoo.com with any questions.

Last fall there was some discussion on the PSW board regarding setting up a YouCaring donation page for a PSW member, Shadowfax. Since then, we have been looking into ways to help get him additional medical services and to pay down his medical debts.  After following those leads, we are ready to move ahead with the YouCaring site. (Link is posted below.)  Any help you can give will be greatly appreciated; not only to help aid in his medical bill debt, but to also show what a great community this group is.

http://www.youcaring.com/medical-fundraiser/help-get-shadowfax-out-from-the-darkness-of-medical-bills-/126743

Thank you for you time!

 
 

Zero Hedge

New Gold Fix Planned By LBMA In Desperate Attempt To Maintain Status Quo

Courtesy of ZeroHedge. View original post here.

Submitted by GoldCore.

The London Bullion Market Association (LBMA) is quietly planning its new gold fix in a desperate attempt to maintain the status quo. 

...

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Chart School

Tracking the Market with Social Media

Courtesy of Doug Short.

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.

The Trade Followers Momentum indicator for the S&P 500 Index (SPX) is showing uncertainty from market participants. The pattern currently being painted by 7 day momentum is usually indicative of traders chasing price. The consolidation and small dip in price over the past few weeks caused momentum to drop rapidly, then when the market recovered momentum shot upward. This behavior shows market participants are reacting rather than planning and executing. This puts some instability into the market as any change in news will cause swift changes in sentiment.

In mid August the indicators showed extreme overbought conditions for SPX. That has now been resolved, but no clear direction has been established yet. This is a...



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All About Trends

Mid-Day Update

Reminder: David is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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Phil's Favorites

ECB Executive Board Urges Germany to Borrow and Spend

Courtesy of Mish.

In a foolish as well as never-ending attempt to prevent price deflation and revive growth, the ECB Urges Berlin to Cut Taxes and Spend.
Berlin has hit back at calls from a top European Central Bank official urging Germany to spend more to help the eurozone escape from its economic malaise.

In one of the most politically charged statements to come from the central bank, Benoît Cœuré, a member of the ECB’s executive board, urged Berlin to increase borrowing in order to support investment and cut taxes.

The article follows calls by ECB president Mario Draghi last month for governments to match the central bank’s steps in loosening monetary policy with growth-boosting measures. However, Mr Cœ...



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Stock World Weekly

Stock World Weekly

Newsletter writers are available to chat with Members regarding topics presented in SWW, comments are found below each post.

Here's the latest issue of Stock World Weekly. Enjoy! Please sign in using your PSW user name and password. (Or take a free trial.)

...

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Option Review

IV Implodes On 4-hour YHOO Options As BABA Commences Trading

Investors are dumping shares in Yahoo, sending the stock down 5.0% to $40.08 after shares in Alibaba made their debut on the floor of the NYSE just before midday. Shares in BABA for their part initially traded up to a high of $99.70, a near 47% increase over the IPO price of $68.00. Typically, one would expect put options that are 5% out of the money with roughly 4-hours left to trade to see waning implied volatility. But, at the start of the trading session and ahead of the first trade for BABA, the Sep 19 ’14 40.0 strike put options were trading with 271% volatility or $0.30 per contract amid uncertainty as to how the start of trading for Alibaba would take shape.

...

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Market Shadows

Selling PVD

Selling PVD

Administradora de Fondos de Pensiones Provida S.A. (PVD) shares will not be trading on the NY Stock Exchange after today. Tomorrow, shares will be harder to sell. Strangely, I wasn't able to find information on the internet, but Paul just sent me a copy of the email he received from Interactive Brokers.

We're selling PVD out of the Virtual Portfolio today at $87.18. 

More details:

From: Interactive Brokers   dated July 18, 2014

Holders of AFP Provida S.A. American Depository Receipts (ADR) are advised that the Company has elected to terminate the Deposit Agreement effective 2014-09-18.

As of the te...



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Promotions

Last Chance! See The 'Google-Like' Trading Algorithm 'Live' TODAY

Traders and Investors,

RSVP NOW to attend a special presentation TODAY at Noon or 9:00 pm ET, where you’ll see a powerful trading algorithm that’s been tested and proven to return phenomenal results on a consistent basis. 

In fact, it has an 82% win rate…

And had you only traded the conservative alerts recommended by the algorithm since inception, you would have experienced portfolio gains of more than 200%!

Register NOW and secure your virtual seat for one of Today’s LIVE presentations.

When you register for the webinar, you’ll also get instant access to following trading videos:

  • Instant access to FOUR Quick-Start Expectancy...


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Sabrient

Sector Detector: Bulls go down swinging, refusing to give up much ground

Courtesy of Sabrient Systems and Gradient Analytics

Although the stock market displayed weakness last week as I suggested it would, bulls aren’t going down easily. In fact, they’re going down swinging, absorbing most of the blows delivered by hesitant bears. Despite holding up admirably when weakness was both expected and warranted, and although I still see higher highs ahead, I am still not convinced that we have seen the ultimate lows for this pullback. A number of signs point to more weakness ahead.

In this weekly update, I give my view of the current market environment, offer a technical analysis of the S&P 500 chart, review our weekly fundamentals-based SectorCast rankings of the ten U.S. business sectors, and then offer up some actionable trading ideas, including a sector rotation strategy using ETFs and an enhanced version using top-r...



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OpTrader

Swing trading portfolio - week of September 15th, 2014

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Digital Currencies

Making Sense of Bitcoin

Making Sense of Bitcoin

By James Black at International Man

Despite the various opinions on Bitcoin, there is no question as to its ultimate value: its ability to bypass government restrictions, including economic embargoes and capital controls, to transmit quasi-anonymous money to anyone anywhere.

Opinions differ as to what constitutes "money."

The English word "money" derives from the Latin word "moneta," which means to "mint." Historically, "money" was minted in the form of precious metals, most notably gold and silver. Minted metal was considered "money" because it possessed luster, was scarce, and had perceive...



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Pharmboy

Biotechs & Bubbles

Reminder: Pharmboy is available to chat with Members, comments are found below each post.

Well PSW Subscribers....I am still here, barely.  From my last post a few months ago to now, nothing has changed much, but there are a few bargins out there that as investors, should be put on the watch list (again) and if so desired....buy a small amount.

First, the media is on a tear against biotechs/pharma, ripping companies for their drug prices.  Gilead's HepC drug, Sovaldi, is priced at $84K for the 12-week treatment.  Pundits were screaming bloody murder that it was a total rip off, but when one investigates the other drugs out there, and the consequences of not taking Sovaldi vs. another drug combinations, then things become clearer.  For instance, Olysio (JNJ) is about $66,000 for a 12-week treatment, but is approved for fewer types of patients AND...



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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

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