According to the Washington Post, it shared a Pulitzer prize with the Guardian US for breaking the stories around the Snowden leaks. It is instructive to see that the runner up was "Newsday for its expose of corruption by Long Island police officers". Pretty amazing to see that the top two 2014 Pulitzers are going to agencies that investigated and reported on government corruption. This public acknowledgement of the value of reporting on government corruption is going to generate even more interest in breaking related stories. After having its head in the sand for the past few decades about the corruption of government, suddenly the people are beginning to care about it, read about it, talk about it, complain about it, protest about it.
Government apologists are not happy about it.
Perhaps that's why Google news has not one word about the Pulitzer awards. I had to hear about it via Newsmax. This is something that should be right out there but clearly Google has sided with big government, even to the degree of pulling down the cached copy of the damning web page that implicated Harry Reid as being the invisible hand behind the need to steal all of Cliven Bundy's cattle (and thus drive him off his AZ ranch) in order to allow his son's Chinese business interest to build a $5bn solar farm.
Tuesday, April 15, 2014
Like I said, the truth will eventually come out now that the credit is crashing...
Multimillionaire Mark Gorton is enough of a patriot that he has set aside his personal security in order to write 3 essays, all of which point to a grand and ongoing conspiracy that goes all the way back to JFK. Do you think it is a coincidence that I repeatedly mention in these pages that the government is a criminal enterprise whose root began just after Ike left power? While Gorton' essays are not going to change things overnight, you never know what is going to be the flame that lights the fuze.
Of course you can just continue to believe that nothing is wrong, that there is no structural problem in government, etc. That is clearly a foolish stance to take these days given all the blatant and visible goings on in this country. Mark my words: there will soon come a time when the conspiracy theorist will be proven right about many things. The depths of corruption in US government know very few bounds today. All it will take is to get the right person on the hot seat and singing to the right crowd. Unfortunately, that crowd probably will not be congress which, for the most part, is also as corrupt as the day is long.
Again, the timing of all of this is no accident. The old guard has to come down because it can no longer support itself given the ongoing credit crunch which is the white elephant dancing on the global stage. Too much debt, too little income, too many mouths to feed before the bills are paid. This will not end well. Global war should not be discounted as one possible scenario. At least, that is the lesson of history in these matters.
Behind it all is the scam of fiat currency and fractional reserve banking. It is the engine of greed and abusive power. It is the great enabler of the global debt Ponzi. It is the reason for income and wealth inequality. If we have a global war the one thing that we the people must win in the battle is the transition to an honest money supply where special people cannot conjure new money, even in the form of credit, from thin air. All that does is water down the spending power of the honest savers in favor of the dishonest borrowers. Of course the borrowers I am talking about never intended to repay their debts and never had the ability to do so even if they wanted to. If, after acknowledging this fact, you still want to call that a "loan" then be my guest. But it is one that will eventually default and so it was really a gift to the recipient which screwed everyone else who did not get the gift.
Of course you can just continue to believe that nothing is wrong, that there is no structural problem in government, etc. That is clearly a foolish stance to take these days given all the blatant and visible goings on in this country. Mark my words: there will soon come a time when the conspiracy theorist will be proven right about many things. The depths of corruption in US government know very few bounds today. All it will take is to get the right person on the hot seat and singing to the right crowd. Unfortunately, that crowd probably will not be congress which, for the most part, is also as corrupt as the day is long.
Again, the timing of all of this is no accident. The old guard has to come down because it can no longer support itself given the ongoing credit crunch which is the white elephant dancing on the global stage. Too much debt, too little income, too many mouths to feed before the bills are paid. This will not end well. Global war should not be discounted as one possible scenario. At least, that is the lesson of history in these matters.
Behind it all is the scam of fiat currency and fractional reserve banking. It is the engine of greed and abusive power. It is the great enabler of the global debt Ponzi. It is the reason for income and wealth inequality. If we have a global war the one thing that we the people must win in the battle is the transition to an honest money supply where special people cannot conjure new money, even in the form of credit, from thin air. All that does is water down the spending power of the honest savers in favor of the dishonest borrowers. Of course the borrowers I am talking about never intended to repay their debts and never had the ability to do so even if they wanted to. If, after acknowledging this fact, you still want to call that a "loan" then be my guest. But it is one that will eventually default and so it was really a gift to the recipient which screwed everyone else who did not get the gift.
Monday, April 14, 2014
Perhaps the best Youtube video I have seen all year.
If you read my blog regularly you will find a couple of background posts on the recent happenings at the Cliven Bundy ranch in Nevada here and here. There were a couple main points from those posts but to summarize:
I believe that anyone who says they give a damn about the USA must invest the small amount of time to watch this video.
Demand justice or ye shall receive none.
- An unarmed person has no rights. They might think they do but it is an illusion. Government will prove them wrong as soon as the individual has something worth taking.
- If the armed populace bands together, government will be put back in its place. Government's only stock in trade is the organization of people by carrot or stick. If the people self organize in their own self interest and protection, large pieces of big government are suddenly no longer needed.
- Harry Reid, a key member of the US senate and liberal henchman of the Democratic party is a corrupt SOB in my opinion. I strongly suspect that he is the invisible hand behind the BLM paramilitary attack on Bundy ranch and it was only after Alex Jones broke the story with the link between Reid's son and a Chinese company which was trying to put in a 5 billion dollar solar farm that the BLM immediately packed up and left. In my view, Reid saw that he was getting an unwanted spotlight and no cockroach likes bright light so I suspect that he told the BLM to quietly skulk away - something that is very out of character for a government agency, armed cowboys or not.
I believe that anyone who says they give a damn about the USA must invest the small amount of time to watch this video.
Demand justice or ye shall receive none.
Where are we with potential Walk Away in May?
The last 6 weeks of $COMPX selling have gotten the pundits plenty worried. They know the bull market is long in the tooth but few were mentally prepared for the strength of this sell off. There is currently too much short term bearishness, too many people saying the bull is over, not enough people talking about dip buying. But the recent action in the $COMPX is warning me about being short because this is very likely a big A-B-C and not a 1-2-3-4-5. That means it was corrective, not motive and that we can easily see 5 final waves up. Maybe it will even form The Owl and give us a beautiful declining double top to sell into. But I really don't expect it to break down without being on a 3rd wave and more probably a 3rd of 3rd. And what we see below is not likely a 3rd of 3rd.
In any case, I have to model the formation below as a fish tail which is nearly completed. Once it breaks back to the up side just run a trailing stop on it. don't be surprised if it touches 4400 or maybe even 4440 before turning back down.
In any case, I have to model the formation below as a fish tail which is nearly completed. Once it breaks back to the up side just run a trailing stop on it. don't be surprised if it touches 4400 or maybe even 4440 before turning back down.
Calling a near term top on USO
This link goes to a post about Charles Nenner's call on USO. I provided it because it is the only real post I have done on USO with any chart provided before. But today the action looks very peaky in USO and so, dear gamblers, if I gave free stock advice (which I do not) then I would recommend letting the ending diagonal finish up to about $37.70 and then shorting it starting at about $37.35. This one one is the bunny slopes of gambling, not the black diamond like JNUG which can swing 10+% in a day. The reason I mention JNUG here is that it did almost this exact pattern 4 month pattern in just 1.3 trading days. See for yourself on the 5 minute chart (top, right) here.
This short is for anyone who wants a very safe 10% over the next month. By "safe" I do not mean it is 100% guaranteed to pay out. There are no such guarantees in life and only a moron would even request such a thing. By "safe" I simply mean you will know very quickly if the model is wrong and thus you will lose very little if you set your stops correctly.
I do have to say, this is a very nice find because it is so textbook Elliott. In the chart above, look how that blue B wave came nearly to the top of the left hand 5th wave but still fell short. That baby is out of go juice, at least for now. Lower prices will bring the buyers but right now this is a really easy bet for anyone. This is the kind of bet you don't mind throwing $100k at without blinking. It moves nice and slow but not too slow to make money on. What normal "investor" (gambler) wouldn't be happy with a great chance to pull in 10% over the next 3-4 weeks with such little downside risk?
This short is for anyone who wants a very safe 10% over the next month. By "safe" I do not mean it is 100% guaranteed to pay out. There are no such guarantees in life and only a moron would even request such a thing. By "safe" I simply mean you will know very quickly if the model is wrong and thus you will lose very little if you set your stops correctly.
I do have to say, this is a very nice find because it is so textbook Elliott. In the chart above, look how that blue B wave came nearly to the top of the left hand 5th wave but still fell short. That baby is out of go juice, at least for now. Lower prices will bring the buyers but right now this is a really easy bet for anyone. This is the kind of bet you don't mind throwing $100k at without blinking. It moves nice and slow but not too slow to make money on. What normal "investor" (gambler) wouldn't be happy with a great chance to pull in 10% over the next 3-4 weeks with such little downside risk?
Now, if you don't know how to short, no problem. Use the inverse OSO ETF (ticker: DNO). It is more thinly traded and thus does not chart as well as USO so I would look at USO for when to buy DNO. Once you know the buy point, the stop point on DNO should be easily figureable based on the wave model I provided for USO. Is 10% (minimum, could be much more given the larger chart) gain in 3-4 weeks just too snailish for you? Go with ticker SCO for double the pleasure, double the profits. It's the 2x ultrashort crude ETF.
One trading hint: While the ending diagonal is certainly the end of a wave, it might only be the end of 3 of C. I have noted that ending diagonals have not often been end of 5ths lately but rather end of 3s. So the chart might break the lower rail of the diagonal and then come right back up through. In order to not get screwed of of even 1 penny, if the wave breaks below the triangle and then does not pick up speed but instead only puts in 3 waves down, just move your stop down to just below your buy point. If you then get taken out, you know the next wave must be the last one and so simply count 5 waves from where it began to come back up and then re-short it. Again, use stops above where you reshorted (just a few cents above).
Miners update
In this post from last Friday I admitted to holding JNUG long over the weekend. Fortunately, the stock traded in my favor with a 3.5% pop at the open which zig zagged its way to a gain of about 9% before noon. Then we got a 3 wave move down into noon which I held through hoping to catch the next wave up which I had hoped would be a 3rd. But after 3 waves up to kiss the newly formed resistance, the chart formed an ending diagonal and when it broke the lower rail of the tiny diagonal, I bailed with a 7+% gain. Why bail? Because a 3rd wave would have smashed that resistance like it was nothing and no smashing was happening. That was my trigger to take profits and I just sat out for the rest of the day.
So it's clear that miners (and metals) are still quite undecided with many other EWers out there saying the chart looks "confused", disorganized, etc. Of course that is exactly what triangles are meant to do: wear you down, frustrate you, whiplash the crap out of you. The minute you look away, they change direction. The sure thing profits you had evaporate. The choppy 3 wave nature of the internal structures was a warning to me and that my model was on shaky ground but intraday reversals are not very common for most stocks so if it opens green it will likely close green. With a green opening, I had a tail wind to let it run and see where it would take me.
Since the direction of this is so uncertain in the short term, the smart trader doesn't try to look too far ahead. Try to enter only after a clear a-b-c downward movement has finished. At least then you can set stops just below your entry point and if you were wrong about that being a bottom (it turns out to be 5 waves instead of 3) you get stopped out very close to where you entered. Easier said than done but if you are patient and if you can pass on some of the less certain entry points your odds of winning go way, way up dear gambler.
Below is my model for tomorrow. That lower support line was drawn with only 1 data point so it is a total guess based on the length of A and the fact that the B wave is already formed.
We are definitely in a C or 3 wave down. I expect it to be a pretty clear 5-3-5. The bottom for this wave might already be in place but I was not sure enough about it to hold over night. If I don't get the hand I want, I'm not going to even ante up by holding over night.
Once I buy in, I'll just set the stops and let it rip. Breaking down my stops means I was completely wrong about the wave and the penalty for that is $10 paid to Ameritrade plus any stop buffer that I might put in there to avoid the pros painting the tape down (buying and selling back to themselves -which they can do for free given that they work at the market maker- in order to manipulate the price down) to take my stops out. Stops are not nearly as easy as they should be to use because the broker knows what your stops are and likely sells it to those trading against you. I've gotten screwed out of my stops enough times to know that if you are in range they will come and get them. But if you are far enough down where they would have to create a 6th wave after 5 waves down in order to get your stops, they rarely if ever go after you.
So it's clear that miners (and metals) are still quite undecided with many other EWers out there saying the chart looks "confused", disorganized, etc. Of course that is exactly what triangles are meant to do: wear you down, frustrate you, whiplash the crap out of you. The minute you look away, they change direction. The sure thing profits you had evaporate. The choppy 3 wave nature of the internal structures was a warning to me and that my model was on shaky ground but intraday reversals are not very common for most stocks so if it opens green it will likely close green. With a green opening, I had a tail wind to let it run and see where it would take me.
Since the direction of this is so uncertain in the short term, the smart trader doesn't try to look too far ahead. Try to enter only after a clear a-b-c downward movement has finished. At least then you can set stops just below your entry point and if you were wrong about that being a bottom (it turns out to be 5 waves instead of 3) you get stopped out very close to where you entered. Easier said than done but if you are patient and if you can pass on some of the less certain entry points your odds of winning go way, way up dear gambler.
Below is my model for tomorrow. That lower support line was drawn with only 1 data point so it is a total guess based on the length of A and the fact that the B wave is already formed.
We are definitely in a C or 3 wave down. I expect it to be a pretty clear 5-3-5. The bottom for this wave might already be in place but I was not sure enough about it to hold over night. If I don't get the hand I want, I'm not going to even ante up by holding over night.
Mass DNA collection: it's global and likely more important than it seems.
I'll keep it short. Someone in a French high school got raped. The suspects are being ordered to turn in their DNA for analysis (and perpetual storage no doubt). How many suspects? The whole fraking school it seems!! 527 kids have been told they are suspects and they must submit to this ridiculous random DNA grab.
Well, I don't really care about the crime that happened. Rape happens all the time. It would not have happened had the victim had a gun, even if it was illegal to carry. Sorry people, what are you going to do, get assaulted and then let the police use it as an excuse to commit even more crimes themselves? So again, sorry about the crime but its just noise. And also sorry to all the little French boys who have to submit their DNA. But again, not really that sorry because if you would have been like the Cliven Bundy Ranch crowd and surround yourself with armed friends then the government would just go away. So again, not really that sorry to anyone who has allowed themselves to be disarmed. It means they are slaves and I could not be more serious about that. Like cattle, they might be allowed to roam free but only up until the time when the rancher needs a little extra money or a good steak for his grill.
But there is something to this mass DNA collection and it stinks to high Heaven. They are doing it in the US as well, at random DNA collection traffic stops and it is being run by off duty cops who are working in uniform. Government wants your DNA. We know they are making great advances in DNA mapping. It's almost like they are looking for something, isn't it??? What are you looking for, corrupt governments of the world? Your cover story is very, very thin. Oh why worry about it?? I'm sure they are doing it for our own good and the safety of the people (cough cough).
Well, I don't really care about the crime that happened. Rape happens all the time. It would not have happened had the victim had a gun, even if it was illegal to carry. Sorry people, what are you going to do, get assaulted and then let the police use it as an excuse to commit even more crimes themselves? So again, sorry about the crime but its just noise. And also sorry to all the little French boys who have to submit their DNA. But again, not really that sorry because if you would have been like the Cliven Bundy Ranch crowd and surround yourself with armed friends then the government would just go away. So again, not really that sorry to anyone who has allowed themselves to be disarmed. It means they are slaves and I could not be more serious about that. Like cattle, they might be allowed to roam free but only up until the time when the rancher needs a little extra money or a good steak for his grill.
But there is something to this mass DNA collection and it stinks to high Heaven. They are doing it in the US as well, at random DNA collection traffic stops and it is being run by off duty cops who are working in uniform. Government wants your DNA. We know they are making great advances in DNA mapping. It's almost like they are looking for something, isn't it??? What are you looking for, corrupt governments of the world? Your cover story is very, very thin. Oh why worry about it?? I'm sure they are doing it for our own good and the safety of the people (cough cough).
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