Monday, November 16, 2009
How poorly positioned is Wall Street for the melt up?
How about silver? That's up $1 today. Isn't there a ton of silver paper, backed up by empty promises floating on the street? How about squeezing them?
Do you think Wall Street's derivative desks are prepared for that? For that melt up?
Heck--they can't even find the Genie's bottle! How do you think they are going to stop it?
Back in August, I said we would run to 1121 on the S&P.
Then in the first week of October, I touted gold to $1300 on the melt up which is coming, with the melt up coming in stocks on deck.
We're just a nudge away from the first target already.
Now it looks like some of these hard asset buyers stepped up to the on deck circle!!!
And the storm clouds are that of the inflation genie getting out of the bottle that Wall Street can't even find!!
Posted by Palmoni at 3:28 PM