Fast Market = Fast Update

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.

paper_10-27amcrude.jpgpaper_10-27amcop.jpg

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

paper_10-27amsilv.jpg

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

paper_10-27amgold.jpg

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.

paper_10-27ampig.jpg

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

259 Comments

Bay of Pigs's picture

DPH

I've been to Sutter's Mill in Coloma, CA. It was fascinating walking around and looking at a place that literally changed the course of American history (CA was part of Mexico then). A truly remarkable chain of events unfolded after gold was discovered there in 1848. You'd never know it by looking at it today. Just a tiny little town with a few shops and a museum there. 

http://www.coloma.com/gold/

http://en.wikipedia.org/wiki/California_Gold_Rush

¤'s picture

This is how it starts / Chinese USD denominated bonds

Dollar Bonds Best of Emerging World as Wen Acts

 

China’s dollar-denominated corporate bonds are providing the highest returns among emerging markets this month on signs policy makers are acting to shield the economy from slowing global growth and increasing defaults.

Corporate debt gained a record 11.9 percent in October, beating the previous monthly high of 10.5 percent in November 2008 and following the 19 percent loss in August and September, according to JPMorgan Chase & Co. indexes. Chinese debt returned more than Indonesia, the second-best performer among the 35 developing nations tracked by JPMorgan at 9.9 percent and more than twice as much as company bonds of Russia, India and Brazil, the data show.

Regulators indicated this month they would boost access to credit for small business and allow local-government financing vehicles to roll-over loan repayments to ease financial pressures in the world’s fastest-growing major economy. Chinese industrial production outpaced analysts’ estimates last month and concern is easing that exports will slump as European leaders move closer to a solution for their debt crisis.

“The market priced in excessive concern about a hard landing in China which dissipated after the release of recent economic data,” said Becky Liu, a Hong Kong-based strategist at HSBC Holdings Plc. “The latest Chinese economic figures were not as bad as some people feared.”

Rising Production

China’s dollar bonds returned more than three times as much as Brazilian notes at 3.7 percent, while debt in Russia earned 5.9 percent and India’s returned 4.8 percent, according to JPMorgan indexes. Notes issued by Chinese real estate companiesLongfor Properties Co Ltd. (960) and Yanlord Land Group Ltd. (YLLG) increased 31 percent and 33 percent, according to data compiled by Bloomberg...

http://www.bloomberg.com/news/2011-10-27/dollar-bonds-best-of-emerging-world-as-wen-acts-china-credit.html

 
ewc58's picture

Canada??? WTF, most of 'em don't know jack about anything!

Down here, we have a horrifying analog called "Jay Walking"...

  1. JW - Geographically Challenged (Embarrassing!) - YouTube

    www.youtube.com/watch?v=cVD20pAZkCINov 21, 2010 - 6 min - Uploaded by MacEliot
    Quizzing high school students on geography. ... Add to. Jay Leno Jaywalking graduationby pack334413539 views ...
  2. Wyss' Pieces: Geography 101 - YouTube

    www.youtube.com/watch?v=3dV7zkTZQxYMar 8, 2008 - 6 min - Uploaded by wyzz7
    In this episode, I wanted to test the geography kn. ... is somewhere in between " Are you smarter than a 5th Grader" and Jay ...
  3. Jaywalking-Summer Destinations - YouTube

    www.youtube.com/watch?v=q75WmzNLz94Sep 22, 2010 - 6 min - Uploaded by chilicarat
    ... but have no clue about politics, history and geography! ... Jay Leno Jaywalking Who are they?by pack33447498 views ...
  4. Best of Jaywalking Video

    www.ebaumsworld.com/video/watch/80691723/Jul 11, 2009
    The best of jaywalking with Jay Leno. ... 40187; Comments: 7. Description: The best of jaywalking with Jay Leno. Tags ...
cpnscarlet's picture

Ni/H Reactor

I know enough about this to be dangerous. I'm sure not a nuclear physicist, but I know enough about atomic structure and energy states that the concept of a "back door" to a nuclear reaction within the nucleus of an atom is not out of the realm of possibility. But just the thought of an actual fusion reaction (or even fission) reaction being able to produce ~3 kw/cu ft. with very little beta, alpha, or gamma radiation just seems "TOO GOOD TO BE TRUE". And you know what the rule about that is. If this is for real, no one will be able to suppress it for long. Someone will do all they have to to make a buck off it and it will "hit the stores" eventually. Perhaps we will get to the point (as A.C. Clarke speculated) where our problem won't be so much as where to get the energy we need, but what to do with all the waste heat being generated.

Again, a problem TOO GOOD TO BE TRUE.

Here's my one thought before the test. If the device is so simple, why didn't someone come up with it before? Or is it such a drastic change of a paradigm, that no one could have possibly thought of it until now?

Oh, and one more thing I must add. If it works, VIVA ITALIA!!! Long live the sons of Volta, Marconi, and Fermi!!! (so says the wop).

UncleFester's picture

DPH

You forgot the Genoa Conferences!  1922 reversed the one from ~500 yrs before to settle foreign balance sheets.  Paper gold vs real gold flows.

IFester

Eric Original's picture

Nice quick edit there, DPH!

Nice quick edit there, DPH!

¤'s picture

Eric O'

Friggin' eagle eyes (AGE's of course) or what???  Wow, I'm impressed. I had a hard enough time scanning through all the lines just finding what you found.

But then again you are a gold rush historian of sorts.    BTW...Nice gold coins I saw posted earlier...(drool!)

Did I fix the Canada error in the right place? That took me about 30 minutes to C&P little  bits and pieces of each date from somewhere and assemble it. It kind of sucked actually but once I got partially into it then  there was no turning back.

I've never seen a concise timeline except for written stories of era's and very specific periods so that shortened aspect of it is nice. The span from 2002 to present is what I'm looking for but in a concise way. Just came back from a walk and I'm a bit de-energized and looking for a nightly tune after a nice green market day.

Eric Original's picture

alchemy

The 300BC reference to alchemy is quite topical, since we are also talking about how some Italian guys are turning Nickel into Copper.

¤'s picture

False flag or the truth? The rhetoric is getting louder...

China Suspected in U.S. Satellite Hacking Attacks

 

Computer hackers, possibly from the Chinese military, interfered with two U.S. government satellites four times in 2007 and 2008 through a ground station in Norway, according to a congressional commission.

The intrusions on the satellites, used for earth climate and terrain observation, underscore the potential danger posed by hackers, according to excerpts from the final draft of the annual report by the U.S.-China Economic and Security Review Commission. The report is scheduled to be released next month.

“Such interference poses numerous potential threats, particularly if achieved against satellites with more sensitive functions,” according to the draft. “Access to a satellite‘s controls could allow an attacker to damage or destroy the satellite. An attacker could also deny or degrade as well as forge or otherwise manipulate the satellite’s transmission.”

A Landsat-7 earth observation satellite system experienced 12 or more minutes of interference in October 2007 and July 2008, according to the report.

Hackers interfered with a Terra AM-1 earth observation satellite twice, for two minutes in June 2008 and nine minutes in October that year, the draft says, citing a closed-door U.S. Air Force briefing.

The draft report doesn’t elaborate on the nature of the hackers’ interference with the satellites.

Chinese Military Writings

U.S. military and intelligence agencies use satellites to communicate, collect intelligence and conduct reconnaissance. The draft doesn’t accuse the Chinese government of conducting or sponsoring the four attacks. It says the breaches are consistent with Chinese military writings that advocate disabling an enemy’s space systems, and particularly “ground-based infrastructure, such as satellite control facilities.”

U.S. authorities for years have accused the Chinese government of ...

http://www.bloomberg.com/news/2011-10-27/chinese-military-suspected-in-hacker-attacks-on-u-s-satellites.html

 
redwood's picture

Econ Disaster

That video is hilarious....but I think you're asking for trouble.  Truth is many Canadians don't even know stuff about Canada, like who the first prime minister was or being able to name the provinces.   The U.S. and Canada perhaps somewhat less, have been badly dumbed down. However Canada is quickly catching up to its neighbor.

¤'s picture

Uncle Fester

Thanks. All of you pretty much amaze me at times with the various quick and accurate responses.

I tried sneaking your date in there but the time limit thing kicked in. 

¤'s picture

new thread

new thread

Eric Original's picture

Yeah, right place, almost..

Great job overall.  You put that together?  Nice!  I just assumed you copied off the web, silly me.

Not sure where you got the fishing part.  As far as I know those guys were definitely looking for the shiny.  Oh, and they made the discovery in 1896.  It took a while for word to get out from such remote parts and the stampede didn't really get huge until 1898.

Yeah, I'm kind of a Klondike geek. cool  My favorite books on it are by the Berton's.  One by Pierre on the gold rush proper, and one by his mother Laura on the years following.

http://en.wikipedia.org/wiki/Klondike_Gold_Rush

I wouldn't say just "Klondike" as it wasn't a proper place name, just a name of a river in the area.  The area as a whole is generally referred as "the Klondike".  You might say "the Klondike, Yukon Territory, Canada"

OK, I'll stop nitpicking now.  You did a great job.  

lakemike49's picture

delete

sorry i could not finish my thought.

I don't know how to delete

Monedas's picture

@ dabrini - my Pd dreams are over ?

Thanks to all who posted on Cold Fusion ! Palladium still has plenty of uses and is hanging in there and is rare ! Monedas 2011 I bought Pd years ago for not much over $100 per ounce, so can't complain, but I was hoping to make it big and buy Rhode Island then move every one off ! devil

Bobbejaan's picture

Quote:Ok, Cpn, Shill, and all

Quote:
Ok, Cpn, Shill, and all the rest of you (except maybe Uncle)....all I can say is your presentation skills just must be off because there are plenty of us females (I'm not blonde but I'm sure there are plenty who are) who do get it and if we don't, well, we just need education.....  

I cannot tell a lie, I did NOT chop down the cherry tree .... but my wife WAS buying silver & telling me it was WAY too cheap for several years BEFORE I became fully enlightened as to its potential for our family's long term security.

.

It's a fair cop, Guv'ner ! blush

backseatdriver's picture

Bobbejaan

Wow, that is awesome. You definitely have a keeper. My wife is on board in full as well. How lucky are we ;)

BSD

Bobbejaan's picture

@BSD

Quote:
How lucky are we ;)

Too True, Squire, Too True!!

GoldenTurds's picture

spy puts

My SPY put up 24% today since Thursday.  I should have sold today, but the bad news just keeps coming on ZH.

Thanks Turds for all your efforts!!

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