Note - from June 24th 2009, this blog has migrated from Blogger to a self-hosted version. Click here to go straight there.
Well... a two week hiatus is hardly any time at all. especially not when your last big directional calls were short Platinum on and "Rally.Over." with the All Ords above 5875.
There will be more of this in the small end of the Platinum market over the next week or so. If Platinum doesn't fall 10-15% during that time, you may call me Meyer.
At that point, the front month was Feb (from memory) was at 2156, the market was in contango, and the April contract was above 2200. The April has not quite dropped 10%, but put it in context - Platinum has been dropping despite strong moves upwards in the rest of the Precious Metals complex.
Bernanke hasn't resigned yet - but even folks like Jim Rogers have joined the chorus calling for his head.
Don't worry, though - Bernanke is on the way out... perhaps a bit later than I had thought, primarily due to HUGE pressure on him to stay around (with an embedded threat that the Rethugs will do a Spitzer on him if he quits before they're done using him to take the heat for their final emptying of the treasury before Shrub's departure).
Other news
There is also the question regarding the rather abrupt disappearance of the MarketAnalytics site.
There are two primary reasons for this:
- I no longer like the name (I want something that sounds like a market superhero, but which also translates well into Froggish); and
- A thing about which I am going to make no comment.
The latter was more important in the short run, but for the moment I'm keeping the main site offline in order to move a lot of the content to Flash (which means that everyone is going to have to have Flash Player 9 installed... but it will be worth it).
I'm reasonably confident that normal OzRant and USRant blatherings will resume on Monday, but I've been wrong before.
And sadly I think I am going to sell Gunther II (the latest RantMobile) because The Lovely simply refuses to drive it.
Oh... and we went to Geneva the otehr day - a day trip to break the French Territorial Hymen in order to be able to feign ignorance if checked... we will pretend we didn't realise that a trip to Switzerland doesn't restart our immigration clock in France.
Next time someone mentions Ypres or the Somme, remind them that at a time when the Frog army was utterly humiliated, young Australians were dying in their thousands in Frogland helping the Frogs to avoid the requirement to teach their children German. Today any Kraut can come to Frogland without any problem, but if they catch an Aussie who has stayed behyond 90 days, they kick them out. 25 years after WWI, the Frogs again capitulated the moment the air got hot. Again the Aussies were among those trying to get Paris back off the Krauts while the Frogs were collaborating. As a proportion of population, Australia and New Zealand lost more men defending France than France did.
I don't blame the Frogs themselves for the lack of intergenerational gratitude - they are a terrific bunch (although they are shit at war... six drunk Germans can take Paris with or without guns). But their politicians have always been shitbags - like little Pharoah Nikki "Mossad" Sarko...
