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The market has become a mere coincident indicator. Until the shit actually hits the fan, levitation continues.

Highly unlikely. I don't think gold goes under 1120 on this move down. There's a ZG gap left there vs. GC that it may try to fill. It's uncanny how gold eventually fills every single gap on the ZG. I'm thinking maybe it's because many more people had(eCBOT) and have(NYSE LIFFE) cheaper...

This is another given. Can you even imagine the heat on wall st. when this occurs? Our fate is most likely tied to the nov 2010 election results.

This is a given. Probably in 2011-2012. That's why it is crucial that we get a republican majority in nov 2010. We haven't yet seen the apex of the populist fervor. Yesterday's jobs report is a mere countertrend blip. 11.5% or higher by sometime 2011.

He is long gold and short euro, short bp so he can hedge against the dollar rallying and gold tanking. Like today, he was probably net - on the trade for the day but not by much whereas gold got hammered. Of course his returns are lower when gold rips against usd b/c euro and bp are rallying...

Last night on Fast.

Joe Teranova was talking about how Tim Geithner's job status next year was something to watch out for. This was not related to any discussion of the tax, but came up while talking about Bernanke's confirmation.

Somebody needs to go on CNBC and say $270 tax on 1000 shares WMT will END trading and active investing PERIOD. It is extremely frustrating that these anchors, some of whom are against the tax, and other "media" types opposing the tax do not grasp the arithematic here and implications.

Fucking CNBC doing another segment on trans tax right now

For sure, but I thought that Scott missed a crucial opprtunity to get it thru to CNBC the math they're not seeing when Melissa asked him why Main St.(loses jobs)? Wished he had said 1000 shares WMT stock = $270 in taxes = END of active investing/short-term trading = end of amtd/etrade/fidelity...

I mean if Jim Cramer doesn't get the lunacy of the arithematic involved here(and I'm pretty sure he still doesn't), I guess we can't expect anyone outside of the trading realm to grasp the idiocy.

Mr. Green, you beat me to it. My thoughts exactly.

WHY does everyone who talks about this tax other than us think it's modest? Why is it that NOBODY else sees the sheer ridiculousness of the size of this tax? Doesn't it drive you guys crazy? Even the people who argue against the tax on the tube for the most part have the 'it's a small tax'...

Wish Rev would focus a little more on the effects on the average individual INVESTORs across main st. america and less on traders.

I am not sure that he still "gets" it. Feels like he was just overwhelmed by the pressure. But whatever, better this way than not.

If anyone is a subscriber to Rev, and to optionmonster(Jon Najarian) or any other service please forward the politico article and have ALL of their subscribers email/call their congressmen to sign on to the "Dear Colleagues" letter or to say thanks if they are in the districts of the three...

Damn we needed this. The hourly mood swings are getting to be too much for me tho :p

It's also scary that this tax somehow becomes the hot topic of the day and generates more unwanted publicity.

Let's hope that this is the case and that it will foreshadow what will happen in nov here in the US.

trans tax discussion again now on cnbc not into effect for 3 yrs?