The markets have become a worthless casino..Dan (Norcini)
The markets have become a worthless casino.. there is not the slightest connection to anything remotely real in any market that is being traded today. Am watching a short squeeze in copper in Asia this evening on no news whatsoever. Today, Crude oil rallied over 3%, the single biggest daily gain since November of last year when we just yesterday got news from the EIA that crude stocks are sitting at a THIRTY YEAR high.
Just what the doctor ordered to clear the surplus crude – yep – raise the price on the stuff……
Every single bit of this idiocy that we are forced to sit and watch each day is courtesy of the damned Central Banks and the hedge funds who are nothing but lemmings chasing their asses around with their algorithms….
No one asks why they buy or sell – they just follow the other guy….
Even if I did not know a single thing about markets or finance or monetary matters – I would own gold simply because of the madness that has been unleashed into the financial system. Anything that displays this sort of perverse volatility and incoherent price action is broken and it does not take a particularly savvy person to figure that out at this point. Even some of the people that I know up here, and who are not into markets, ask me what in the world is going on with the stock market with the kind of price swings that it is experiencing. I think people instinctively know something is very wrong."
–Dan (Norcini) May 2, 2013...
