Here We Go Again

194
Mon, Oct 17, 2011 - 10:37am

Time to start another week. The charts suggest a quiet, rangebound week. Why is it I feel they're deceiving me?

As you can see on the updated charts below, gold and silver look to continue consolidating below key resistance this week. Gold looks to have the greater potential of breaking higher as it is already in its "MaxQ" area and reached a high of 1697 overnight. Silver is still being leaned upon by The Forces of Evil and, with margins so extraordinarily high, it will be challenging for it to muster enough speculative buying strength to drive it higher.

Of course, the scheduled CFTC meeting tomorrow might have a bit of an impact on these markets, too. I would encourage you to make one more attempt at influencing the decision on position limits. For you convenience, here are the email addresses of your friendly commissioners:

ggensler[at]cftc[dot]gov

bchilton[at]cftc[dot]gov

somalia[at]cftc[dot]gov

jsommers[at]cftc[dot]gov

mdunn[at]cftc[dot]gov

Maybe mention that "position limits are essential to free and fair price discovery" and that the imposition of the "position limits mandated by the Dodd-Frank Law" are a "good starting point". You might also remind the commissioners of the Mission Statement of the CFTC and how it applies in this case:

The CFTC's mission is to protect market users and the public from fraud, manipulation, abusive practices and systemic risk related to derivatives that are subject to the Commodity Exchange Act, and to foster open, competitive, and financially sound markets.

In the "news" today, it seems that Citi has taken a page out of the Fraud Perpetuation handbook recently authored by your friends at JPM. Will the BS ever cease?

https://www.zerohedge.com/news/citi-earnings-bloodbath-38-billion-123share-reported-earnings-really-05-billion-or-016share

Lastly, there has been a recent spate of defections from longtime friends of this site. Though I am, of course, sorry to see anyone leave, it comes with the territory. Regular users of this site will come and go. Some will just drift away while others will leave in a huff of righteous indignation. Either way, the only folks this site cannot live without are the Tech Team and the moderators. Without them, this entire operation is at risk. Please, for the greater good, I beg you to observe the guidelines of the site and respect your fellow members.

Have a great day. Prosper and be happy. TF

About the Author

Founder
turd [at] tfmetalsreport [dot] com ()

  194 Comments

AlienEyes
Oct 17, 2011 - 10:39am

First?

First?

AlienEyes
Oct 17, 2011 - 10:41am

Second?

Second?

Tesla
Oct 17, 2011 - 10:41am

Sending out emails NOW!

Thanks turd - Your#1 - Have a good morning all... Happy (I Hope) Monday!!!

BASEBALL 13
Oct 17, 2011 - 10:46am

The Week Ahead

Let's all be ready for a rough ride! The preparations for a EU meltdown continue to build. If you're out to make some money in the market, short term option plays may be the ticket.

Shill
Oct 17, 2011 - 10:47am

Thanks Boss, keep up the

Thanks Boss, keep up the great work.

To the Tech team and Moderators, I appreciate your efforts.

Shill
Oct 17, 2011 - 10:47am

Hussman on European banks

Hussman on European banks leverages ... and games played to make them look respectable.

Hussman Funds - Weekly Market Comment - Europe: Just Getting Warmed Up - October 17, 2011

Oct 17, 2011 - 10:50am

get past the CFTC spam blocker

I would not send all 5 emails at once by putting all the email addresses in the "To" box. That might flag your email as spam.

Use a formal signature with your job title and contact information (I sugegest that you not remain anonymous on this kind of issue).

Anything we can do to make our emails look as credible as possible might help get past the spam blocker.

I also suggest putting your request in the subject line: "Please Implement position limits" or something like that. If they look at our emails at all, they may simply count up the "for or against" from the subject lines and not actually read...

Have a great day prepping and trading!

Fade2Black
Oct 17, 2011 - 10:51am

@ TF

You said it again

"the only folks this site cannot live without are the Tech Team and the moderators."

Again i say .. What is this site without Turdites ?? Without Turdites you have no need for moderators or even this website. Members ARE the most important part of this website.

Just saying

Fade

JimmyTheHand
Oct 17, 2011 - 10:51am

Let's give a loud clap of applause to our MODS!

The MOD's on this site are awesome. Thank you all for everything that you do.

I just want to through out my two cents worth... I think there are a lot of bastards sitting on the sidelines until they hear official word of what the limits are going to be. I feel we will have some jump back in the water directly after that, but I don't think we will have a massive ramp up ($10+)until those laws actually go into place/effect.

The banks are getting their butts handed to them. And I have heard a few good theories (Jim Rickards), mainly that the government is putting in regulation after regulation so that the only thing that the banks can invest in is government war bonds/treasuries etc... If bank x or y decides they don't want to play along the government will let them fail and let the other guys absorb their assets.

Being a student of history, I have gone back and read some of the things that Eisenhower wrote and openly spoke about. It seems that he hit the nail right on the head.

If any of you are looking for a good book check out "Where the Wizards Stay Up Late". It is a good book that basically covers the history and creation of the internet from the earliest days. The first chapter or two cover Eisenhower. It's a darn good read.

beinki
Oct 17, 2011 - 10:52am

Bob Chapman adds my video to his newsletter

I Interview Bob Chapman at his Home (R.I.P. Bob)
Key Economic Events Week of 10/21

10/22 10:00 ET Existing home sales
10/24 8:30 ET Durable Goods
10/24 9:45 ET Markit flash PMIs
10/24 10:00 ET New home sales
10/25 10:00 ET Consumer Sentiment

Subscribe or login to read all comments.

Contribute

Donate Shop

Get Your Subscriber Benefits

Private iTunes feed for all TF Metals Report podcasts, and access to Vault member forum discussions!

Key Economic Events Week of 10/21

10/22 10:00 ET Existing home sales
10/24 8:30 ET Durable Goods
10/24 9:45 ET Markit flash PMIs
10/24 10:00 ET New home sales
10/25 10:00 ET Consumer Sentiment

Key Economic Events Week of 10/14

10/15 8:30 ET Empire State Fed MI
10/16 8:30 ET Retail Sales
10/16 10:00 ET Business Inventories
10/17 8:30 ET Housing Starts and Bldg Perms
10/17 8:30 ET Philly Fed MI
10/17 9:15 ET Cap Ute and Ind Prod
10/18 10:00 ET LEIII
10/18 Speeches from Goons Kaplan, George and Chlamydia

Key Economic Events Week of 10/7

10/8 8:30 ET Producer Price Index
10/9 10:00 ET Job Openings
10/9 10:00 ET Wholesale Inventories
10/9 2:00 ET September FOMC minutes
10/10 8:30 ET Consumer Price Index
10/11 10:00 ET Consumer Sentiment

Key Economic Events Week of 9/30

9/30 9:45 ET Chicago PMI
10/1 9:45 ET Markit Manu PMI
10/1 10:00 ET ISM Manu PMI
10/1 10:00 ET Construction Spending
10/2 China Golden Week Begins
10/2 8:15 ET ADP jobs report
10/3 9:45 ET Markit Service PMI
10/3 10:00 ET ISM Service PMI
10/3 10:00 ET Factory Orders
10/4 8:30 ET BLSBS
10/4 8:30 ET US Trade Deficit

Key Economic Events Week of 9/23

9/23 9:45 ET Markit flash PMIs
9/24 10:00 ET Consumer Confidence
9/26 8:30 ET Q2 GDP third guess
9/27 8:30 ET Durable Goods
9/27 8:30 ET Pers Inc and Cons Spend
9/27 8:30 ET Core Inflation

Key Economic Events Week of 9/16

9/17 9:15 ET Cap Ute & Ind Prod
9/18 8:30 ET Housing Starts & Bldg Perm.
9/18 2:00 ET Fedlines
9/18 2:30 ET CGP presser
9/19 8:30 ET Philly Fed
9/19 10:00 ET Existing Home Sales

Key Economic Events Week of 9/9

9/10 10:00 ET Job openings
9/11 8:30 ET PPI
9/11 10:00 ET Wholesale Inv.
9/12 8:30 ET CPI
9/13 8:30 ET Retail Sales
9/13 10:00 ET Consumer Sentiment
9/13 10:00 ET Business Inv.

Key Economic Events Week of 9/3

9/3 9:45 ET Markit Manu PMI
9/3 10:00 ET ISM Manu PMI
9/3 10:00 ET Construction Spending
9/4 8:30 ET Foreign Trade Deficit
9/5 9:45 ET Markit Svc PMI
9/5 10:00 ET ISM Svc PMI
9/5 10:00 ET Factory Orders
9/6 8:30 ET BLSBS

Key Economic Events Week of 8/26

8/26 8:30 ET Durable Goods
8/27 9:00 ET Case-Shiller Home Price Idx
8/27 10:00 ET Consumer Confidence
8/29 8:30 ET Q2 GDP 2nd guess
8/29 8:30 ET Advance Trade in Goods
8/30 8:30 ET Pers. Inc. and Cons. Spend.
8/30 8:30 ET Core Inflation
8/30 9:45 ET Chicago PMI

Key Economic Events Week of 8/19

8/21 10:00 ET Existing home sales
8/21 2:00 ET July FOMC minutes
8/22 9:45 ET Markit Manu and Svc PMIs
8/22 Jackson Holedown begins
8/23 10:00 ET Chief Goon Powell speaks

Recent Comments

Forum Discussion

by sierra skier, 52 min 30 sec ago
by NW VIEW, 55 min 19 sec ago
by Trail Trekker, 2 hours 15 min ago
by Scarecrow, 6 hours 17 min ago
by NW VIEW, Oct 22, 2019 - 7:41pm