Lacrum...Nice gun. However it is point less other than for a hobbie. I shoot my AR 15, my 9 and my 44 every weekend with friends. This is a hobby I picked up because I enjoy Shooting. I have been coached on how to properly handle fire arms and how to shoot and hit the target for the kill. Now gun sales have increased since the US GOV became intrusive...that is a fact. Also, my guns are worth more than what I purchased them for. And will continue to go up in value as soon as the push to end Firearms in the US catches steam. I'm not looking to bring trouble to the GOV. I could careless what DC is doing at this point because I make money, I have fun, and I am safe in Texas. Texan's are not looking for a fight. However, if a fight comes to them, they will not back down. Most Texans could give a rats ass about the rest of the country at this point. I, included. Let the states sleep in their own beds that they made. If states want to control firearms, tax, bring state healthcare, force their state residences into Slavery in a sense. So be it. Hell, I say IL, NYC, ET ALL...JUST COME OUT AND SAY YOU BELIEVE IN SOCIALISM AND ALLOW THOSE WHO LOVE THAT WAY OF LIFE TO ENJOY IT AND THOSE WHO DO NOT TO LEAVE. Im sure most people would not have a problem with the EAST COAST, as it already is, becoming Socialist. Or the Midwest. YET LET THE STATES RAISE THEIR OWN MONEY so Texas doesn't have to pay for the Freeloaders. I say do away with all STATE FUNDING BY THE GOV, including money to TEXAS. Let states find ways to raise capital. I would be willing, as most in Texas,to pay a state tax if we got rid of the FED TAX. Just don't bring that shit down here because we will not put up with it.
About 3 years ago, I started to make some common sense preparations. Everyone thought I was nuts, but they don't anymore, even if they won't admit it. I do think big changes are coming, although when and in what form they will come is open for debate.
In my recent blog post I suggested it will be pension default. I think bankruptcies will create this. Also repossessions. Do you read my blog. morganisteconomics.blogspot.com
You do realize that 99% of the "fools" on ET agree with you? You'd have to be seriously reading challenged to think otherwise. Just do a count in this thread. As to the action this morning, that was a squeeze on all fronts: of the longs in the stock markets, and the shorts in gold. At this point the gold chart looks like the arc of an ICBM. I was one of the shorts caught, but as I hedged properly the pain was bearable, and as of now, for me, things are looking a lot better. The action in the market hasn't changed: investor psychology is the same as it always was. I entered my son in that trading contest they were advertising up in the Trading forum, and told him to expect a gap up this morning followed by a fade as the economic backdrop took over. Which is more or less how it went, except for the fade being more like a swan dive off a cliff. The trading game only changes for those that don't realize the same patterns happen over and over and over again. HFT is just market-making in this electronic age. Shouldn't affect the retail trader at all. As for doomsday: there's always another one around the corner. The international economic situation is desperate, as usual.
I'll say this much. It takes months and months for the market to go up. We are 20% or so from ALL TIME S&P highs. It takes 1-5 days for the market to collapse. I'd rather be flat than be buying anything. If we collapse, I win. If we bounce, I win. I have advised my friends to put the majority of their 401k's in cash. There is no reason to risk your bull market gains. Look at a chart. Risk reward is to the DOWNSIDE. Why buy? Is the market going to make new all time highs? Are you nuts? The market is going LOWER. That is where price will go. That is where value is. You should be SELLING. The United States WILL be downgraded. We have no way to cut our debt. We will NEVER get a fiscal conservative in office. We can not pay our bills. If QE 3, 4, 5 , 6 happen, we will destroy the dollar. There is something going on here. Either 1. Everyone in power really IS this stupid 2. A conspiracy Market is making a lower high, we WILL go lower. Do we make a higher low? Double bottom? New low? Who cares, we are traders. Point is, we are going LOWER.