Thursday, July 17, 2014
Some Thursday morning news
Funny enough, but according to my stats, nobody even reads my news posts. And yet they are all so very interested in any old stupid thing I have to say about gold and the miners.
I guess that means nobody gives a crap about understanding fundamentals.
So here's some morning news for you.
FT Alphaville - low vol just happens sometimes. Hey, Keohane - it has nothing to do with any of that, and that HSBC analyst shows he has no clue by blathering on without reaching a conclusion. I'm convinced that the secret is this: volatility is now just another commodity bought and sold on futures markets. Thus supply and demand reigns. Except vol has had (for the past 5 years anyway) the interesting (for a futures contract) feature of making you money when you roll over the short position. The corollary is that the market will become very interesting when we enter a long, slow upward vol trend and short rollover starts to cost money. Which does happen in bull markets.
Kotaku - Manuel Noriega is suing over Call of Duty. Are you allowed to libel a person when they're serving a prison sentence? Maybe not, but you are allowed to if he's an Enemy of America. Because reasons.
Mineweb - on the latest gold smackdown failure. Lawrence Williams notes that $4B of paper has been puked into gold, but here we are still at $1300. I guess the reason a person doesn't buy at this point is because the pukes have demonstrated someone wants to kill gold, and so we'll stay out of the way until the killing is done, right? After all, what reason does anyone have to puke $4B paper, instantaneously?
Noah Smith - gold dreamers face harsh reality. Yeah, you don't have to read it - he's as clueless as the rest of the Wall Street Whiteys about gold supply and demand. He's still blathering on about interest rates and inflation and other stupid America-centric things, as if America actually buys gold anymore. Yes, he does give the boots to Zerohedge - though even then, Noah fails to recognize that its coverage is slanted by the fact it's a paid Russian propaganda website.
Mining.com - Marin Katusa on your anium. Yeah it's the Caseys, yeah it's Katusa. But it's an interesting read, because he says he expects U to suck - he's not at all constructive.
Raw Story - a parasite in cat poop cures cancer. Don't wait for the treatment to hit the shelves - you'll just be paying $1000 a dose anyway. Instead, get yourself a kitty and you'll be cancer-free forever. Because science!