Fast Market = Fast Update

Thu, Oct 27, 2011 - 10:39am

No time for dillydallying today. Things are rolling so let's get right to it.

Let's start with our two base commodities as the PMs are definitely drawing some strength from them. As I type, Dec11 crude is up $2.41 at $92.61. DrC is charging higher again, too.

These two have given a boost to silver which is finally trading back above $34.

Gold is lagging just a bit but the chart suggests that it won't be lagging much longer.

That's all for now. I'll have a more detailed update after the close. TF

1:10 pm EDT UPDATE:

As this epic drop in the POSX continues, look for even more downside tomorrow. As noted in the post from later yesterday, once 76 gave way, The Pig looked to fall into the abyss. As you can see on the chart below, 74 looks likely as a short-term bottom.

Dropping to 74 tomorrow or next week would likely be the impetus for gold at 1780 and silver at 37. TF

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turd [at] tfmetalsreport [dot] com ()


Oct 27, 2011 - 12:46pm

12:33p Obama seeks quick

  1. 12:33p

    Obama seeks quick implementation of Europe deals

  2. 12:32p

    Obama: Europe deals lay foundation for crisis end

  3. 12:31p

    Obama welcomes Europe's decisions on banks, Greece

Ha ha ha ha as if Obama had anything to do with this, or cares for that matter. Respectfully Mr. President, your a bumbling fool with out your transcript.

( Easy NSA that was not an insult to the commander in chief that was a fact and you know it )

Oct 27, 2011 - 12:51pm

Right on time

Floor traders off to lunch. Volume down. Hopefully Turkey wasnt on the lunch menu, I would hate to see the tryptophan ruin this momo.


Oct 27, 2011 - 12:52pm
Oct 27, 2011 - 12:52pm

Eric: Crash season truncated

due to massive covert printing and false bank earnings

they do what they have to do

sweet cheeses
Oct 27, 2011 - 12:57pm

Bucky sure smellin' like a$$ today

That is a BIG move for one day. A BIG stinker of a move.

Oct 27, 2011 - 1:00pm


Tekhneek. i like your analysis. Roger Wiegand indicated a similar analysis to what you posted early on. We could get back into the mid 40s. Maybe my prediction 42.50 year end will come true.maybe higher. I wonder if they will bang it down again in the mid 40s. That would be to obvious. but who knows. im sure it will get knockd down again. only time will tell. but i too bought silver (options) in the low low 30s. want to make some more fiat back after the big take down in may.

Oct 27, 2011 - 1:02pm

This is the front page photo

This is the front page photo on Market watch. Look at the dude, he looks as if he was shoveling coal all night. I can here the media brief now.

" We worked hard for the Euro zone and we got it done " Whew!
( insert heavy breathing voice over )

Any comparison here? Maybe its me

Bond vigilantes are going tits up..Go TBT :)

Economical Disaster
Oct 27, 2011 - 1:05pm

@Crash season truncated

...a couple of weeks from now the crash will continue. SPAIN, FRANCE, PORTUGAL, IRELAND, ITALY the list is endless, will need the printing press. This is all false hype to allow the can to be booted down the road for a few more weeks. Keeps the market up. Its a dull PLOY don't fall for it.

Oct 27, 2011 - 1:05pm

I agree Eric


With the EU situation over with for now, the Fed. will have our own version of QE (public or stealthy) rolled out very shortly before any Super 12 gets into any budget or monetary policy issue's.

They need to get this through right now within a week or two (I'm guessing) and then the distraction of those Super 12 talks will replace all the MSM Fed./QE talk.

I'm considering having my dad get back in a bit in some broad based funds for the S&P and/or Russell 2000. Not today, but to plan for Monday. Maybe.

Lots of pension plans are tied into the broad based Russell 2000 (medium/small cap equities). Asset inflation and some pension saving tactics are part of their equation I believe.

Same thing with whatever bonds seemed to react to the EU news and todays bond activity here. Today would seem to be a clear indicator (imo) how things will react even more once our QE takes place. I can't imagine the Fed. not doing something right on the heels of the EU doing what they did. One would seem to re-enforce the other and the Fed. heads have been talking about it like crazy for a month at least.

The POSX plummeting today may look meek compared to what may happen after our own QE or whatever happens going forward.

We shall see.

Oct 27, 2011 - 1:11pm

For a fellow Turdite

You know who you are.........Happy Birthday!

Three Stooges Birthday Cake Song

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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
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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
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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
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9/12 8:30 ET CPI
9/13 8:30 ET Retail Sales
9/13 10:00 ET Consumer Sentiment
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9/3 9:45 ET Markit Manu PMI
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8/26 8:30 ET Durable Goods
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8/27 10:00 ET Consumer Confidence
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8/30 8:30 ET Pers. Inc. and Cons. Spend.
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8/13 8:30 ET Consumer Price Index
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8/14 10:00 ET Business Inventories
8/15 8:30 ET Housing Starts & Bldg Permits

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