Happy or Terrible?

So I guess you and your fellow right winger's have a monopoly on what is right and wrong? Thought so! BTW: Associating progressives with Stalinist Soviet style government and the 'worker's paradise' as enforced by crazed North Korean dictators certainly enhances the empiricism of your argument. I mean, because these madmen and governments ruthlessly ruled their people, it therefore stands to emperical deduction that progressives are not only wrong about everything, but also to blame for all of your problems.

um?

I must say the use of expletives is as convincing as ever.

To me, HUI is not about to tank, its trending downwards in a long term channel, but it made a higher low with a rejection tail on Jul 12, ok its sitting below 7 day MA, but it just seems like a continuation of an existing slowing and consolidation pattern to me.  I have not received today's candle from my data provider yet.  Am I missing something obvious?

I haven't been on this site terribly long but I must say I now have an extensive ignore list and its helped a lot with winnowing wheat from chaff. 

Its also much quicker getting through 400 odd posts per thread.

@Pegasus - Yes, a family of crazed dictators and a so-called "man of steel" are indicative of progressive systems specifically because the benchmark of progressives and collectivists always comes down to "the state is all, the individual, nothing". So the formation of an elite that has no problem putting a boot (or ax) to the neck is a "natural" development of collectivists of all types. Again, empiricism.

As to who has the monopoly of RIGHT AND WRONG? In my world, that's God, and compared to him we're all wrong. But in practical matters, if "right wingers" by your definition includes people of a certain spiritual bent, then I think you're getting close to the way I see things, like it or not. No one has a perfect sense of right and wrong, but some do have a Lion's share. What direction does your moral compass point to?

Now if you can keep the adolescent name calling (versus my rapier thrust at you) at zero like in your last post, I will change my mind about the IU button.

Well said, even though there is some gray area. For instance, you will never get we, the living and productive, to join with those who choose welfare as a lifestyle choice off our backs. To be honest, this goes against everything that sound money, wealth preservation, and ultimately, precious metals stand for.

Yep; the more words you can use of the ones that mommie told you not to say the bigger the boy (girl) you are and you're always right.

children need to learn their place

Like W C Fields said when asked how he liked children........

well done

Miners are in a nice technical test of a possible bottom in May.  If it holds, that bodes very good things for the sector imo.  Now, if it doesn't hold, bring on another down leg and some serious pain.  There are plenty of graphs out there that depict this action (too lazy to search now).

As far as factors go, you have:

1) for a good number, yes.  Plenty of good Companies out there though

2) not in the second quarter, as input costs should have fallen with the rest of the commods.

3) Yes, some of that.

4) The miners are manipulated along with Gold and Silver.   I know that is not a palatable answer, but you can watch the action in some of the shares and see it plain as day.    For a recent example, Goldcorp recently downgraded production estimates and was immediately SAVAGED, along with many of the seniors.   That level of reaction was totally uncalled for.   From jsmineset.com:

For skeptics, doubters, and deniers, consider this ˜indicator’ by following the wise guys/smart money: JPM (one of the Cartel’s main warhorses) has been THE biggest buyer of Canadian gold miner Goldcorp today, with NO sells. (Despite Goldcorp’s just-lowered guidance and a subsequent ~10% drop in share price).

for feedback.

@sprite - no, nothing specific has happened today. It's just like most days - down. That's the problem!

I guess I'm just getting peeved at the constant,  um, consolidation....

nice work!

@Pining - Agreed - "something completely different" in the short-term. But gold defying the laws of physics - "same ol'" manipulation garbage from what I can see. Or is something else going on? Maybe. And will we ever be able to find out what? Unlikely.

And that's why philosophical/ideological discussions here at TFMetals have the appearance of being more productive. 

Your question is a good one, and from my understanding (admittedly limited) this is how I would answer: 

Yes, the Swap Dealers are traders who have not been caught with their pants down during our long hard slog in gold for the last year- they have been consistently adding longs / reducing shorts on weakness.  In general, appears to be smart money. But...

Does this mean their net long position is a harbinger of big things in PM's?  Not necessarily-  they are traders, and are trading many things other than PM's.  In other words, many of their metals positions are hedges for their primary trades in other markets, so their overall position right now may simply reflect their need for hedges in other, more significant markets and trades.  Thus it may not be particularly bullish for the metals (and it wasn't last October when the same thing happened).  HT to Rico for helping me understand this one- he noted that if the Swap Dealers were only net long 3 times during a raging 10 year bull market in gold, how good an indicator can they be?  damn good point.  However... (!)

Maybe it does portend good things for gold:  Here is the one thing I could think of that I have yet to find an answer in cyberspace for, and I think it is a darn good question:  why would traders use a long gold position as a hedge for other positions when we all know the 2% rule-  gold is not allowed to rise more than 2% in a single day!  Those guys know this.  And this is why I think a long gold position would truly suck as a hedge...  unlimited downside on any given day, but a 2% cap to the upside?  So if these aren't being used as hedges, then maybe...  possibly...  hopefully...  the smart money guys with the deep pockets are going long. No hedges, just straight long.  And if this is the case, then WHOOP!  But we'll see. 

This is my best shot to answer your question as fully as I could... hope this helps somewhat!

@Dagney Taggart and others:

I took great interest in reading your discussion on high mileage carburetors.

Shortly after I graduated high school in 1980 or 81, I purchased a manual that I found in the back of Popular Science Magazine.  It was entitled “The Secrets of the 200 Mile per Gallon Carburetor”.

I actually built several such units, one was a proof of principle made out of a paint can, tunafish can and some carburetor parts, and it worked.

The principal involved, is to heat the gas beyond its boiling point, turn it into a vapor, and then heat the vapor to dry

it out.

The basic idea is that a hot dry vapor it is far more explosive then the liquid gas that a standard carburetor or a modern fuel injection system pours into the engine.

I finally built a very elaborate system, into a 1969 Ford Mustang convertible with a 351 CI. engine,  and was able to achieve 75 miles a gallon through regular use.

The carburetor only seem to work up to about half throttle, and then it was starved for gas after that,

however half throttle on a 351 Mustang was more than enough to drive it.

I drove the car daily for about a year, and worked out most of the bugs.

A lot of people knew of my endeavor,

I was somewhat of a braggart in those days.

For no apparent reason,

the car burnt to the ground in my driveway one night.

Although I'll never know why, I have my suspicions.

Then roundabout 1991 or 92, I tried to duplicate my design on another car.

When I found then, was that the process of  vaporizing the fuel was leaving a black sludge, or a tar like substance that would not evaporate.

I can only conclude that the gas companies started adding something to their fuel that would defeat the possibility of using a vaporizer carburetor.

I for one am 100% certain that the technology has been around since the early 30s,

and that it has been kept off the market for the various reasons discussed by others above.

I have made several attempts to work my way around the sludge buildup problem,

but so far I have not had any good results.

Using the old-style Pogue carburetor system, just creates a  of black thick tar that clogs the system up.

I do not have any  expertise relating to these systems other than what I have read and what I have done.

But I am absolutely certain that the technology worked, and that it would be viable if the gas companies would simply remove whatever they added to the fuel to keep it from vaporizing without leaving a black sludge.

The powers that be are not going to make it easy, but then again nothing worthwhile ever is.

The plans for this carburetor are available online,

just Google the Pogue carburetor,

there are many good  sites that are dedicated to it,

there are also sites put up to discredit the technology and explain why it can't work.

They are bogus,

it does work, it's just been sabotaged  so it can't because of the sludge.

Thank you for apologizing.

I did not like the swearing. It felt like an assault.

This is just my opinion.

Even with BB not officially announcing QE (no one thought this would happen), gold was only hit down to 1574ish. Then a nice bounce, then a beatdown. Either way, it didn't get beatdown to 1550, or even the very important 1525 range. I, for one, am very happy with this action. Not so happy that we couldn't close in the high 1590's, or even 1600. Oh well.

The range is closing and getting very narrow, it could go either way, however with BB and the FED ready to jump in if this gets worse, (which they will) metals should certainly be in a much better situation moving forward and into the 3rd and 4th quarter.

The US, China, BRICS, Europe: which one of these groups will not print and allow their economy to go into a great recession or depression if they can just print to avoid? Which politician will not take the opportunity to print more money so they can stay in office and continue to make a bunch of fiat?

In the US, we have the fiscal cliff, the debt ceiling breach, the election, the ever problematic housing situation, the unemployment (i'm talking about the real unemployment number), the lower consumer spending, ending or continuing of the Bush tax cuts, increasing tension in the Gulf (lets just call it the beginning of the great Oil Wars). Anything else I missed?

Conclusion: The situation will get worse in very short order, the printer is being warmed up, and the FED will use at least one of the four tools (Ben's words) they have to help. This is not then end of the world, but it certainly means the likelihood of metals raising and helping us to persevere our wealth is imminent.

I have never felt better about buying metals then right now and will be ordering an American Gold Eagle or 50 Silver Eagles tonight. This is my problem. Which one should I order?

As I mark the 63rd year of presence on this planet, I find a growing love for it's inhabitants.

Here are just a few of  the best realiztions of this. I love you madly.

Thank you all for being there.