Thanksgiving Night Massacre

[notesdev]

Gold, oil selling off hard... Nikkei down over 3%, Hang Seng over 5%... yen spiking... something very interesting is underway overnight. Keep your eyes peeled if you're into economics and finance, tonight and tomorrow.

[Birthmark]

1. What do you think is happening?

[Art_from_Ark]

3. In the case of gold, a lot of it is no doubt profit-taking

Gold had a run-up of nearly 10% in just the last two weeks, so undoubtedly there are people who are unloading their positions for a quick profit. Similar to what happened when gold approached the $1000 mark a couple of times.

[notesdev]

11. Just taking a guess

That the Dubai default has triggered a flight to safety, and possibly also a Yen carry trade unwind. Hard to say for sure, with the global financial system built on a house of cards, it's not well placed to take shocks to the system.

By the way, here's a great example of what a controlled media industry looks like. Everywhere else in the world, the story is the default.

Here's what it looks like if you get your news from the UAE:

http://gulfnews.com


"Investors show trust in Dubai"
"Dubai World intervention 'carefully planned'"
"Dubai Financial Support Fund raises $5billion"
"'Dubai an attractive regional market'"

Sadly there's no high horse for us to get up on, since it can and does also happen here.

[girl gone mad]

12. May be the start of the dollar carry trade unwind.

[elleng]

2. Shares Skid on Dubai Debt Worries, Yen Surges.

Asia stocks slumped on Friday as shockwaves from Dubai's debt crisis hit the region, shaking banking shares and boosting the yen to a fresh 14-year high against a struggling dollar as investors unwound risky trades. . .

The shock Dubai news raised investor fears of debt defaults that could hit the global economy just as it is trying to recover from the financial crisis. . .

With the yen's rally raising concerns the Japanese economy could slip back into recession, Japan sent its strongest signal yet that it was considering intervening to weaken the yen with the central banks asking several banks, both local and foreign, for levels at which to buy dollars.

Banking shares were among the worst hit in the region on concerns about potential exposure to the billions of dollars in Dubai debt.

http://www.nytimes.com/reuters/2009/11/27/business/business-us-markets-global.html

[EmeraldCityGrl]

4. I'd love to know if gold was traded for Dollars or Euros.

[TheWatcher]

5. See what happens when The Fed, Da Boyz, and The HFT Manipulation Machines

Have to take even ONE Day Off?

The Futures Collapsed nearly 300 Points today, and now a massive move is underway overnight to prop them up.

With no Casino Masters to attend The Casino, there is no Man Behind the Curtain to keep the Illusion of Oz Alive.

http://quotes.ino.com/chart/?s=CBOT_YM.Z09.E

This ENTIRE system is BULLSHIT.

Fraudulent, Artificial BULLSHIT.

But the American People are addicted to the Illusion, and therefore will worship it, and fight and die for it.

Besides, who gives a a shit about reality when there are all those Black Fiday Doorbusters to consider?

:crazy:

[phasma ex machina]

10. The HFT Manipulation Machines?? Apparatus used by the Plunge Protect Team (PPT) perhaps? nt

[Historic NY]

6. A real "Black Friday".

[fasttense]

7. Is the Stock Market open today? n/t

[northernlights]

9. yes, it will be open today

And I should have a lot of fun tonight at my wonderful job of getting yelled at by stupid people who think they're "players" and don't get how thy're being played, all for the princely sum of $11/hour :puke:.Oh, I'm sorry. I forgot. I'm supposed to be all grateful to the financial industry for keeping the call center here in the US so I can have a job. Just like I'm supposed to fork over a percentage of my income to them to invest for me in the most expensive/costly/fee intensive mutual fund plan yet cause I'm too stupid to spend my money myself. :puke:

[no_hypocrisy]

8. $64,000 Question

They sell, but where do they put their money as they run away?

[dixiegrrrrl]

14. That is what a lot of folks want to know.

The most common answer is : same place Maddoff put all his money.
Where ever that is.
also, illegal profits are used to buy "more" of what counts in their world: they buy other countrie's resources, they "make a killing" buying up deeply discounted businesses and plundring them.
It is all a huge f***ng game of real life Monopoly to them, money and power lust.

[roamer65]

13. I love how the lemmings run for the US dollar.

That habit will eventaully take them right over the cliff.