IKN

Take physic, pomp

Trading Post (cruel reality edition)

So much for that gold rally, huh? Very weird looking gold intraday chart now…kinda 736…736…736….736…HEY, LET’S BUY EVERYTHING WE CAN TO 760 THEN SELL IT BACK DOWN IMMEDIATELY…..736….736……736…736. It almost looks like manipuNO, DIDN’T SAY IT. Anyway, I’m bot GLD at 1% higher than trading price now so I may as well hang around for a couple of days here.

Crystallex (KRY) update: Fifteen bottles of beer on the wall, fifteen bottles of beer, take one down and pass it around, there’s fourteen bottles of beer on the waaaaaaaaaaaaaaaaaaaall. Though you note the big 13.5m volume traded in the USA and just 0.86m in Toronto. Just another weird shady thing in the annals of the shadiest stock imaginable.

Cosan (CZZ) down 11% at $2.52. With sugar harvest forecast reported low you would have thought CZZ would get some love. But no, no, no, not in the Benny&Hank Show.

The three month T-Bill now pays a very tempting 0.04%. It did its job, but gold didn’t follow through. Y’know, I’m not this conspiracy theory tinfoilhat GATAfreak but I do know that manip exists occasionally and I think the goldbugs have every right to shout “foul” today. Or maybe that’s because I’m long GLD now 😉 Biased…moi?

Frankly the market is impossible to trade. I mean, WTF is PBR doing at $18? I know it got pumped to kingdom come earlier this year, but this is a decent company making decent money, even with WTI at $53. The subject of coal stocks came up in an e-mail exchange today and I wrote the following. It applies to all sectors, not just coal. There’s no point in putting one’s value investor cap on and pondering the value of coal stocks because the tsunami rush of sheep flesh knocks over anything resembling intelligence.

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