YEEEEEEHAAAAAAAAAA!!!

Friday, August 31, 2012 at 11:38 am

So I'm watching this crazy volatility this morning and I'll I can think of is this old "Far Side" cartoon:

At first, I was simply thinking about the YeeeeeHaaaaaaa part, watching the steep drop followed by the even steeper rally. But the the metaphor developed further as I thought of The Bernank and His Royal Buttboy Hilsenrath. They are the pilots of the UFO, clearly enjoying themselves as they joyride above the terrorized masses.

In case you somehow missed it, here's your timeline:

And now the WSJ is confirming with a full article on The Bernank's next move: http://www.zerohedge.com/news/when-one-hilsenrath-just-not-enough-heres-another-bernanke-signals-readiness-do-more

Here's what it looked like, as it happened:

And here are 6-hour charts that show the full ranges which have contained the metals for the past week:

Crude made it all the way down to $94 yesterday. Did you buy some? Maybe you'll get another chance. Maybe not. If anything, it seems worth the risk. With September likely holding an increase in MENA tensions, the UPside certainly seems to outweigh the potential downside.

Lastly, did you see this yesterday? Was it widely proclaimed on air by on CNBS? Did it make the WSJ? How about Bloomberg? Hmmmm. Just more evidence of the coming changes. Don't ever say you didn't see it coming. http://www.cnbc.com/id/48838061

Alright, gotta go. Things are moving fast and I've got work to do. Expect The Cartel to still defend 1680 today. Lots of stops above there and, if tripped, gold should shoot toward 1700 and then 1720.

More later.

TF

p.s. Here are a few more favorites.

And, my alltime favorite:

Comments

Istack's picture

a little excitement is a wonderful thing

Submitted by Istack on August 31, 2012 - 11:39am.

u

Henry Frap's picture

Jackson Hole

Submitted by Henry Frap on August 31, 2012 - 11:39am.

It's amazing that one man has this effect on a 'free market'...

Puck T. Smith's picture

First?

Submitted by Puck T. Smith on August 31, 2012 - 11:39am.

Moi?

Oh, well, never mind.

The Watchman's picture

First?

Submitted by The Watchman on August 31, 2012 - 11:39am.

or 4th-damn

dgstage's picture

Awesome, Awesome

Submitted by dgstage on August 31, 2012 - 11:42am.

Lets Go

AC_Doctor's picture

Silver & gold busting out

Submitted by AC_Doctor on August 31, 2012 - 11:42am.

Silver & gold busting out of their manipulative chains...

Puck T. Smith's picture

Sorry to go off topic, but

Submitted by Puck T. Smith on August 31, 2012 - 11:43am. 
000
WEPA40 PHEB 311425
TSUPAC

TSUNAMI BULLETIN NUMBER 003
PACIFIC TSUNAMI WARNING CENTER/NOAA/NWS
ISSUED AT 1425Z 31 AUG 2012

THIS BULLETIN APPLIES TO AREAS WITHIN AND BORDERING THE PACIFIC
OCEAN AND ADJACENT SEAS...EXCEPT ALASKA...BRITISH COLUMBIA...
WASHINGTON...OREGON AND CALIFORNIA.

TSUNAMI OBSERVATIONS NOW INCLUDED. CONTINUING TO MONITOR.

... A TSUNAMI WARNING IS IN EFFECT ...

A TSUNAMI WARNING IS IN EFFECT FOR

 INDONESIA / PHILIPPINES / BELAU
 
pickaxe's picture

Hoopla

Submitted by pickaxe on August 31, 2012 - 11:43am.

All this hoopla about nothing...

Let' take turns laughing at these clowns.

Still stacking.

~pickaxe

DrkPurpleHaze's picture

Jobs Report / Dog Biscuit Patience

Submitted by DrkPurpleHaze on August 31, 2012 - 11:44am.

The next couple reports on jobs will be significant in determining when QE takes place.

Stagnant or worse and QE happens for sure. Can they hold off until after the election?

I don't think so and whatever QE they do (in whatever form) doesn't have to be a significant number but it does have to appear as being consistent/perpetual.

Remember these words from Pavlov himself...

"QE is necessary...the benefits outweigh the costs."

That's saying a lot without implementing anything......and the market is drooling and waiting for the stimulus biscuit.

Dog%20Biscuit

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
SpeakEasy,NewsTicker,iCandy-Vids http://www.tfmetalsreport.com/forums/frivolity-forum

Puck T. Smith's picture

I gotta stop watching the charts.

Submitted by Puck T. Smith on August 31, 2012 - 11:46am.

I'm getting a nosebleed.

Xty's picture

Well, well, well

Submitted by Xty on August 31, 2012 - 11:47am.

Always expect the unexpected!  Except when you are expecting it.  Or vice versa.

ivars's picture

Added 500 Oz XAG at 31,19.

Submitted by ivars on August 31, 2012 - 11:49am.

Added 500 Oz XAG at 31,19. Average 30,38. Think I walk the talk-that is why I reveal these purchases..wont anymore reveal the size of the position...soon shall have a look at my silver charts, reproduce them again we might be approaching them as well, belatedly, but not slowly.

P.S. I am adding from profits now, that is the whole simple game plan to ride the wave until the crest. The physical purchases will be gold when possible as it will stay relatively cheap.

criscrossing's picture

Implosion of Morgan Stanley

Submitted by criscrossing on August 31, 2012 - 11:49am.

Cited in an economic news article at Survival Blog yesterday.  More confirmation backing up Jim Willie's sources.

Apathetic or Whatever's picture

My favorite

Submitted by Apathetic or Wh... on August 31, 2012 - 11:50am.

far%20side-%20moon%20saxon%20dogs.jpg

thesandbox's picture

Beware of Doug....

Submitted by thesandbox on August 31, 2012 - 11:52am.

I think that is where King of Queens got its start ;)

AugmentedFourth's picture

Diggin' It

Submitted by AugmentedFourth on August 31, 2012 - 11:57am.

Miners got quite a pop so far.

Xty's picture

Well, doesn't the internet know everything:

Submitted by Xty on August 31, 2012 - 11:57am.

Expect The Unexpected - But It Won't Do Any Good

By News Staff | July 12th 2010 11:58 AM

Even if you know an unexpected event is likely to occur, you are no better, and may be even worse, than those who aren't expecting anything unexpected at all.   Did you expect that confusing opening sentence?   Now you get the point.

The study, from Daniel Simons, a professor of psychology and in the Beckman Institute at the University of Illinois, appears this month as the inaugural paper in the new open access journal i-Perception. (www.perceptionweb.com/i-perception)

A new study by Daniel Simons, a professor of psychology and in the Beckman Institute at the University of Illinois, and Christopher Chabris, psychology professor at Union College in New York, used a new video based on one used in an experiment conducted in the late 1990s where two groups of people – some dressed in white, some in black – are passing basketballs back and forth. The study subjects were asked to count the passes among those dressed in white while ignoring the passes of those in black. 

Try it yourself:

...

​http://www.science20.com/news_articles/expect_unexpected_it_wont_do_any_good

AC_Doctor's picture

Which weekend in Oct is Morgan Stanley going to be sacrificed?

Submitted by AC_Doctor on August 31, 2012 - 11:57am.

So which weekend in October is Morgan Stanley going to be held, carotid artery up,on the chopping block or are TPTB going to wait for them to bleed out after the November elections?

rpboxster's picture

Far Side complete collection

Submitted by rpboxster on August 31, 2012 - 12:00pm.

was one of the best Christmas gifts I gave to my kids.  They read them over and over.  Larson was the one-panel master.

Jeremiah Jr's picture

The coming Garage Sale that was was once Kodak

Submitted by Jeremiah Jr on August 31, 2012 - 12:01pm.

Kodak Sells Film Business: Company’s Silver Up For Grabs?

"Eastman Kodak announced Thursday that it is eyeing an end scene to its print film, photo paper, photo kiosk, commercial scanner, heavy-duty commercial scanners and corporate software divisions, as it looks to sell them. The move comes on the heels of chapter eleven bankruptcy this past spring, and as the business auctions off its portfolio of digital patents. The move was expected, but not until the beginning of the year. The company said that it is selling a business unit which includes its “traditional photographic paper and still camera film products."

http://silvervigilante.com/kodak-sells-film-business-companys-silver-up-...

Have owned several companies in this market space of Kodak's (P&OS)  for the past 30 years, it is really sad to see what has happened to such a Great American icon. This will be a case study in at the Harvard school of business for many years. I have several good friends in the very upper management of Kodak and it does not look good for them going forward. Perhaps some on this site can even grab some of the Silver before Sprott gets it all.

Turd Ferguson's picture

Gold at 1680

Submitted by Turd Ferguson on August 31, 2012 - 12:01pm.
MODERATOR

Watch closely.

JackPutter's picture

If you believe......

Submitted by JackPutter on August 31, 2012 - 12:02pm.

That the Drhragii will lie to manipulate markets, and the Bernanke-Hilsenrath pair will not do the same, then you're just protecting your own emotional state.

I'm watching the Dr. Who marathon, just got addicted this last summer.

OutLookingIn's picture

I Knew It! I Knew It!

Submitted by OutLookingIn on August 31, 2012 - 12:02pm.

Turd! A 'Far Side' fan!

Glen Larson's 'Far Side' was/is the absolute best. Own several of his collections in book form.

Was a daily reader of his strip for years, as talk in the morning was about, nothing but the 'Far Side!'

Some of his best were published full page style in Hugh's Playboy mag. That's if you're old enough to recall.

The PM's are doing what they do. Attempting to show reality amid all the Fed BS and manipulation.

The fundos are still bad and slowly getting worse. Have a safe and happy long weekend everybody.  

onealpha's picture

Weird video. It did not throw me.

Submitted by onealpha on August 31, 2012 - 12:03pm.

I counted the correct number of passes and saw the Gorilla.  What was the point?  Do most people not see the Gorilla?  Am I the anomaly?  Stupid question, never mind, I am sure I am the anomaly. 

Tom Steele's picture

Like most veterinary students

Submitted by Tom Steele on August 31, 2012 - 12:03pm.

"Like Most Veterinary Students, Doreen Breezes through Chapter Nine!"

FriendOfTheDevil's picture

question

Submitted by FriendOfTheDevil on August 31, 2012 - 12:05pm.

I hate to ask such noobish questions, but you won't gain knowledge without asking questions so, here goes ...

What does it mean when Mr. Turd says to "Buy Crude". I know it has something to do with futures/options and what not, but what are you buying? Is it like buying into a stock? are there particular symbols that you buy? And if you were buying into it going down vs going up, what symbols are you buying? 

If anyone can clear this up for me that would be spectacular, or even point me into the direction of this kind of information in one place so i can get a better grasp on this whole futures thing (I've looked up what they are and what not, but i don't get how you buy into them). Up to this point I've just been a stacker but I have a little extra $$ to play with and wouldn't mind learning more about how this future's stuff works.

-Friend

Turd Ferguson's picture

More on crude

Submitted by Turd Ferguson on August 31, 2012 - 12:06pm.
MODERATOR

Gold Dog's picture

Made a monkey....

Submitted by Gold Dog on August 31, 2012 - 12:07pm.

out of me!

I saw this several years ago and didn't remember it.

I guess that shows the wisdom of age! Not too LOL!

Happy Dog

watchingdogma's picture

AG versus stocks

Submitted by watchingdogma on August 31, 2012 - 12:07pm.

Follow-up to last week when silver eclipsed the DOW for the year - AG just eclipsed the S&P - next stop - NASDAQ

Short Stack's picture

Speaking of Far Side

Submitted by Short Stack on August 31, 2012 - 12:11pm.

My favorite far side was the one where a group of vultures were eating at a Cafe,  after just being served one vulture turned to the waitress and complained:

"Hey !   This meat isn't tainted !"

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