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Senior Contributor
ShelladyOptions
Posts: 925
Registered: ‎05-03-2010
0

OptionEye.....Oct. 15th

Good morning.

 

Government shutdown has us very quiet again this morning. With the holiday yesterday in most other markets saw our volumes very thin.

 

Spent the weekend in NW Illinois and the weather could not have been better. Beautiful autumn colors. Well worth the trip. Stories out of the fields were better than expected as well. We will have to wait to see that the government thinks.

 

Stocks are up just a tad this morning after last weeks rise. The 10 year yield has risen to 2.71% and gold has fallen to $1260.26 which is down $12.13. Oil is down as well to $101.67 down .74 cents.

 

We again will be watching the talking heads debate a default. It is not going to happen. If our legislators think they have a lot to worry about with Obamacare and the debt ceiling if they let the government default they will have a TON more to worry about and Obamacare and the debt debate will be the least of their problems. That is why they will not let it happen.

 

Getting down to crunch time and the markets will be dangerous. As we get closer and closer to the government running out of money I say 'Hey, didn't we run out of money $17 trillion dollars ago?'

 

Advisor
425Cat
Posts: 1,662
Registered: ‎05-14-2010
0

Re: OptionEye.....Oct. 15th

There is enough money to pay the interest.obama is bound by law to do so
Senior Advisor
BA Deere
Posts: 8,665
Registered: ‎05-13-2010
0

Re: OptionEye.....Oct. 15th

Headlines are 'Investors selling US Treasuries'....that is the canary croaking in the coal mine, welcome to your new job Janet Yellen. Certain voters of the "low information" persuasion feel all we need to do is tax those dastardly Koch brothers more to make the books balance...we shall see. Meanwhile corn is so cheap that we may actually use it in our "corn stove" this season.
Don`t redistribute my wealth, redistribute my work ethic.
Advisor
hardnox604008
Posts: 5,518
Registered: ‎05-14-2010
0

Re: OptionEye.....Oct. 15th

Anything to fit the narrative.

 

They're selling very short dated bills, still a remarkable show of confidence that the market believes that even if there is a default it only affects the stuff inside 30 days maturity.

 

As Adam Smith famously said, "there is a lot of ruin in a nation."

"People of privilege will always risk their complete destruction rather than surrender any material part of their advantage. Intellectual myopia, often called stupidity, is no doubt a reason."

J.K. Galbraith
Senior Contributor
teaspoon73
Posts: 210
Registered: ‎05-17-2010
0

Re: OptionEye.....Oct. 15th

  Do you think the Chinese are buying any treasuries this week?

Veteran Advisor
roarintiger1
Posts: 1,593
Registered: ‎04-29-2011
0

Re: OptionEye.....Oct. 15th

China???          Treasuries = Grain..................The answer to your question is yes.    :smileywink:

"Failing to prepare is preparing to fail." "Success happens when preparation meets opportunity"