Untitled

303
Thu, Jan 5, 2012 - 10:31am

In a move that should have come as no surprise to anyone around here, gold and silver were both poached overnight in London. Gold had reached 1625 so it had to be put down. And so it was.

Then, the Always Dumb & Pandering (ADP) Report came out at 8:30 and showed an increase in payrolls for December of 325,000. Below is an approximation of my reaction when I read that headline:

Baby Laughing Hysterically at Ripping Paper (Original)

At any rate, the damage has been done and now the metals must search for support levels from which to bounce. Let's hope we find some support near the lines I've drawn below:

Again, I just don't get the feeling that we've seen the true bottom yet. We might have but, even if we haven't, I know we are close. I just have this gut intuition that The Cartel isn't quite ready yet to take their collective foot of off the necks of the remaining specs. Let's keep watching the OI in gold and the CoT in silver. We'll find our clues there. Until I feel the bottom is in, gold risks a drop back toward the lows of last week and silver could still fall toward 25-26. If looking to trade or buy, be patient.

Just a couple of other items. My brother-in-law sent me the link below. I think you'll find it interesting and, frankly, quite sad:

https://goldsilver.com/news/34-shocking-facts-about-u-s-debt-that-should-set-america-on-fire-with-anger/

While on that goldsilver page, I found this video. Maybe it will cheer you up. Not that the content is pleasant but it is presented in an amusing fashion:

DEBT LIMIT - A GUIDE TO AMERICAN FEDERAL DEBT MADE EASY.

Lastly, another article from the oldie-but-goody file. This one is from January 2009 yet it is certainly still relevant today:

https://www.marketskeptics.com/2009/01/feds-interferance-with-gold-and-markets.html

OK, that's all for now. As I research and read, I am becoming increasingly optimistic of a big, huge year in the metals, particularly silver. When the time comes and my confidence has increased enough, I will post all of my thoughts in detail. Until then, keep the faith.

TF

About the Author

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

  303 Comments

bellyacre
Jan 5, 2012 - 10:32am

first

first

RedRover
Jan 5, 2012 - 10:33am

2nd

2nd

murphy
Jan 5, 2012 - 10:33am

who knows what #

1, 2,3 ?

Over55
Jan 5, 2012 - 10:35am

Pretty Much Metal

Are the way to go. Just got to way everything up. Would you rather have dollars or stuff / something real.

Also in times like this, it really can't hurt to be diversified into other area IMO

https://www.dailyjobcuts.com

silverstool
Jan 5, 2012 - 10:37am

Shelley

I met a traveller from an antique land
Who said: "Two vast and trunkless legs of stone
Stand in the desert. Near them on the sand,
Half sunk, a shattered visage lies, whose frown
And wrinkled lip and sneer of cold command
Tell that its sculptor well those passions read
Which yet survive, stamped on these lifeless things,
The hand that mocked them and the heart that fed.
And on the pedestal these words appear:
`My name is Ozymandias, King of Kings:
Look on my works, ye mighty, and despair!'
Nothing beside remains. Round the decay
Of that colossal wreck, boundless and bare,
The lone and level sands stretch far away".

Percy Shelley

¤
Jan 5, 2012 - 10:37am

Thanks...

...for the thread and a very happy and innocent infant laughing it up.

It made my day....so far.

https://www.tfmetalsreport.com/forum/3172/daily-dphaze-news-machine

Be Prepared
Jan 5, 2012 - 10:38am

Nth Place

murphy - You hit the nail, my friend. There are No Numbers in the Financial World that exist which should believed as they are presented. Each story, each fact and each number twist in convoluted paths based upon hundreds of different machinations to deceive...to thwart...to hide....to abscond. We are stuck, though, operating within this meme (at least for now) and so these numbers can in some ways reflect the back path and forward trajectory. But, maybe, sometimes it feels like these freaking numbers are the only thing to hold onto in an insane world.

Repost - Didn't see the new thread...

OC15
Jan 5, 2012 - 10:40am

Ford-Reagan

Not sure if this was mentioned Turd but Reagan did not stand down for Ford in 1976. Ford was a sitting President seeking re-election after finishing Nixon's second term.

Dr G
Jan 5, 2012 - 10:40am

Rickards, who has been

Rickards, who has been spot-on in most of his calls (especially those that are currency/Fed/ECB related) has said that formal QE3 will come when the EUR/USD falls to 1.27 area. It is at 1.281 after today's huge drop. Patience. It is inevitable that they print in secret and in the open.

OC15
Jan 5, 2012 - 10:43am

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 8/12

8/13 8:30 ET Consumer Price Index
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Labor Costs
8/14 8:30 ET Philly Fed
8/14 9:15 ET Ind Prod and Cap Ute
8/14 10:00 ET Business Inventories
8/15 8:30 ET Housing Starts & Bldg Permits

Key Economic Events Week of 8/5

8/5 9:45 ET Markit services PMI
8/5 10:00 ET ISM services PMI
8/6 10:00 ET Job Openings
8/8 10:00 ET Wholesale Inventories
8/9 8:30 ET Producer Price Index

Key Economic Events Week of 7/29

7/30 8:30 ET Personal Inc/Spending & Core Inflation
7/30 10:00 ET Consumer Confidence
7/31 8:15 ET ADP employment
7/31 2:00 pm ET FOMC Fedlines
7/31 2:30 pm ET CGP presser
8/1 9:45 ET Markit Manu PMI
8/1 10:00 ET ISM Manu PMI
8/2 8:30 ET BLSBS
8/2 10:00 ET Factory Orders

Key Economic Events Week of 7/22

7/23 10:00 ET Existing home sales
7/23 10:00 ET Richmond Fed Manu Idx
7/24 9:45 ET flash Markit PMIs
7/25 8:00 ET Count Draghi/ECB policy meeting
7/25 8:30 ET Durable Goods
7/25 8:30 ET Wholesale Inventories
7/26 8:30 ET Q2 GDP first guess

Key Economic Events Week of 7/15

7/15 8:30 ET Empire State Fed Index
7/16 8:30 ET Retail Sales and Import Price Index
7/16 9:15 ET Cap Ute and Ind Prod
7/16 10:00 ET Business Inventories
7/17 8:30 ET Housing Starts and Building Permits
7/18 8:30 ET Philly Fed
7/19 10:00 ET Consumer Sentiment

Key Economic Events Week of 7/8

7/9 8:45 ET Fed Stress Conference, three Goon speeches
7/10 8:30 ET CGP Hump-Hawk prepared remarks
7/10 10:00 ET CGP Hump-Hawk House
7/10 10:00 ET Wholesale Inventories
7/10 2:00 ET June FOMC minutes
7/11 8:30 ET CPI
7/11 10:00 ET CGP Hump-Hawk Senate
7/11 12:30 ET Goon Williams
7/12 8:30 ET PPI

Key Economic Events Week of 7/1

7/1 9:45 ET Markit Manu PMI
7/1 10:00 ET ISM Manu PMI
7/1 10:00 ET Construction Spending
7/2 6:35 ET Goon Williams
7/3 8:15 ET ADP June employment
7/3 8:30 ET Trade Deficit
7/3 9:45 ET Markit Services PMI
7/3 10:00 ET ISM Services PMI
7/3 10:00 ET Factory Orders
7/4 US Market Holiday
7/5 8:30 ET BLSBS

Key Economic Events Week of 6/24

6/25 10:00 ET New Home Sales
6/25 1:00 pm ET Chief Goon Powell
6/25 5:30 pm ET Goon Bullard
6/26 8:30 ET Durable Goods
6/27 8:30 ET Q1 GDP final guess
6/28 8:30 ET Personal Income and Consumer Spending
6/28 8:30 ET Core Inflation
6/28 9:45 ET Chicago PMI

Key Economic Events Week of 6/17

6/18 8:30 ET Housing Starts and Building Permits
6/19 2:00 ET FOMC Fedlines
6/19 2:30 ET CGP presser
6/20 8:30 ET Philly Fed
6/21 9:45 ET Markit flash June PMIs

Key Economic Events Week of 6/10

6/11 8:30 ET Producer Price Index
6/12 8:30 ET Consumer Price Index
6/13 8:30 ET Import Price Index
6/14 8:30 ET Retail Sales
6/14 9:15 ET Cap Ute and Ind Prod
6/14 10:00 ET Business Inventories

Forum Discussion

by sierra skier, Aug 17, 2019 - 7:14pm
by sierra skier, Aug 17, 2019 - 8:30am
by Boggs, Aug 16, 2019 - 7:46pm
by Boggs, Aug 16, 2019 - 7:07pm
randomness