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goldminingXpert (29.76)

Japan Crashing. Euro Crashing. Futures Crashing.

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October 24, 2008 – Comments (10)

The massive deleveraging continues--The Deflation has arrived. Short stocks. Short bonds. Short real estate. Short foreign. Short oil. Short gold. Nothing is safe here expect King Dollar. We appear to have a crash on deck today (futures minus 400 and falling, Yen is going parabolic (which = stock market crash there (-7% today) and here). Gold continues to sharply fall lower as it's key rival the Dollar continues its rapid ascent. Poor currencies like C$ have lost 30% of their value since this summer! Get out the way folks, you don't want to be dip-buying anything here. It's not too late to short the hole tomorrow, but don't risk much of your money, as the mouth-breathing equity buyers can be expected to stage at least one lame duck rally before we go whizzing into the 7,000's.

10 Comments – Post Your Own

#1) On October 24, 2008 at 3:17 AM, GeneralDemon (27.72) wrote:

Whizzing is right.

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#2) On October 24, 2008 at 3:23 AM, GeneralDemon (27.72) wrote:

So, you're saying the market's a real pisser?

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#3) On October 24, 2008 at 4:38 AM, abitarePERFECT (29.30) wrote:

Take a look at my portfolio it is pure bear.

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#4) On October 24, 2008 at 4:49 AM, AnomaLee (28.88) wrote:

Yea....

.VIX > 90

At this point the .VIX can be completely ignored in this environment.

I think you can ignore a lot of things paid attention to beforehand in this environment...

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#5) On October 24, 2008 at 5:02 AM, DemonDoug (92.48) wrote:

Short stocks. Short bonds. Short real estate. Short foreign. Short oil. Short gold. Nothing is safe here expect King Dollar.

If there is any more confirmation I needed that we are in a dollar bubble (meaning the value of the dollar is completely overinflated versus it's fundamental value), this statement would be it.

Oddly enough I'm holding quite a few of these overvalued bits of paper, the question is now where is the top of the dollar before it too starts falling (which would leave just about gold, silver, and oil to rise against it)?

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#6) On October 24, 2008 at 9:44 AM, goldminingXpert (29.76) wrote:

the crash continues everywhere. Gold in 600's. No safe place to hide.

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#7) On October 24, 2008 at 9:56 AM, Harold71 (22.68) wrote:

Short stocks. Short bonds. Short real estate. Short foreign. Short oil. Short gold. Nothing is safe here expect King Dollar.

I follow an ultrashort bond fund.  It is down, it goes up and down with gold.

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#8) On October 24, 2008 at 10:11 AM, goldminingXpert (29.76) wrote:

Harold--TBT is trading up a dime. That's the one I follow.

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#9) On October 24, 2008 at 1:00 PM, leohaas (35.73) wrote:

This is deleveraging at work!

Just one question: why is the C$ a "poor currency?"

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#10) On October 24, 2008 at 2:32 PM, goldminingXpert (29.76) wrote:

poor as in I feel bad for them cause they've suffered so badly.

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