Metals, Grains & Crude. Oh, My!

426
Wed, Jul 18, 2012 - 12:58am

A very interesting day in all three. What will Wednesday bring?

First, the metals. As has been the case for all of 2012, The Bernank spoke today and down went gold and silver. After nearly reaching $1600 in early London trading, gold was pummeled well in advance of The Bernank and fell to as low as $1572 shortly after The Great Douchebag spoke. However, contrary to pattern from earlier this year, the metals subsequently reversed and traded higher, reaching $1592 just two hours later. Both metals have since been beaten back but the action today was encouraging, nonetheless. As you can plainly see on the charts below, both metals are rapidly moving toward a conclusion of their multi-month corrections. When they break...which will be soon...they will both break sharply and decisively higher.

Crude is getting very interesting as the situation in the MENA is becoming quite tense. Here's a story from the LATimes which confirms much of what Debka told us earlier today. Now above $88, the next objective is $90. IF it can get a toe-hold there and maintain it for a day or two, it will be set up for a run back toward $100. Not only could options players profit from this but holders of UCO would make a few bucks, too.

Read this: https://www.latimes.com/news/nationworld/world/la-fg-syria-damascus-fighting-20120718,0,1068141.story

And this: https://www.zerohedge.com/contributed/2012-07-17/words-war And then watch this:

IF DAMASCUS FALLS, ISRAEL AND ITS GAS FIELDS FEARED THREATENED

Here are two bits of interesting reading for you. The first is from Pat Heller who comments on his FreedomFest experience: https://www.libertycoinservice.com/index.php?option=com_content&view=article&id=486:new-gold-commission-in-2013&catid=4:numismaster-articles&Itemid=9

And here is Rick Rule (who I also met at FreedomFest). Rick spoke with KWN regarding silver and other things: https://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/7/17_Rule_-_The_Physical_Silver_Market_Is_Getting_Dangerously_Tight.html

OK, that's all for now. MrsF keeps looking at my sideways so I must start heading back to my regularly-scheduled vacation. Have a great Wednesday!

TF

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turd [at] tfmetalsreport [dot] com ()

  426 Comments

rocoach
Jul 18, 2012 - 1:01am

Oh Yes!

I've been waiting for a pop in grains (JJG), oil (UCO) and metals (SLV & Phyzz).

balz
Jul 18, 2012 - 1:02am

Last !

Last !

Dagney Taggart
Jul 18, 2012 - 1:09am

Good Night.

Mother, Son, and Holy Ghost

Mr. Fix
Jul 18, 2012 - 1:13am

Fourth?

Fourth?

Thanks Turd!

Wallace Hartley
Jul 18, 2012 - 1:29am

@ Ivars re: Safest Banks (from last thread)

I've been thinking about your search for the safest place to park your non-PM fiat. After much consideration, and as much as I hate to say it, I think the safest place to park your electronic $ is with JPM Chase. The reasoning behind this idea has to do with recent history. It's widely held that JPM is the Fed's commercial bank henchman that does it's master's bidding. It's also painfully obvious that because of their cozy relationship with the Fed, that JPM is the biggest and most special of the TBTF banks. Following this logic, it's very likely that JPM will be saved at any cost as it is the most important cog in the commercial banking system in the eyes of the Fed (who will be in charge of the redistribution of our tax dollars in the next inevitable bailout). As much as I hate to say it, I think JPM will be higher on the bank bailout list than your smaller/local/community bank and therefore has a much higher likelihood of surviving the next crisis and will undoubtedly survive longer than the little guys. The only thing left to consider is the horrible moral dilemma involved with depositing your money with the devil. Remember, it's best not to be too emotional when it comes to protecting your wealth.

ivars
Jul 18, 2012 - 1:55am

Banks- thanks everyone


The remarks I got on my question about safe(r) banks will now be an input in new area I need to process. A good start, though no obvious answer, as expected, as I live in obscure place , except for JPM but from where I live I think- have not checked- how do I get an account there. Anyway, this has not to be done tomorrow, and cashing out 3 -6 month existence amount is a good idea as well. In USDs for next few years. (despite the fact that PMs will move up in USD, other things will move up less than in most other currencies, especially EUR).

ivars
Jul 18, 2012 - 1:56am

I see that being 100% focused

I see that being 100% focused on PMs means missing out a lot of other opportunities, like grain. Is that called consistence or what?

Fulgurite
Jul 18, 2012 - 1:57am

Nonsense!

Turd, you can 'bottom call' all you want but neither Gold nor Silver will move higher, UNLESS The Bernank announces QE3.

And what's with this sudden 'link' between the grains and PM's? You really think the grains will drag PM's higher because of a drought....and all that in a manipulated market?!? Come on Turd, you are seriously contradicting yourself here!

Just like all those 'bottom callers' on KWN, you can 'chart' all you want looking for a bottom, but we will have to wait for QE3. Simple as that...

ivars
Jul 18, 2012 - 1:58am

GSR continues to move

GSR continues to move sideways. One more week like this and it will clearly outside the March-July uptrend channel support. Or it could it be a head forming- that would mean silver prices will remain quite low but on average at current levels for at least another month- 1,5 months. Till September. Or, if it just moves down within next weeks (could be a double top) , then silver goes up earlier. Why would that be?

agNau
Jul 18, 2012 - 2:04am

FED can't print corn.

This should be our first unadultered market break. As well, there is a seemingly united chorus on the bottom being in on the metals. Fourth carrier group heads to the Hot Zone. Everywhere you look, massive chaos! Just what the NWO prescribed. Good and Evil battle it out. Just viewed an Alex Jones video on UN arms treaty that everyone needs to see and pass along. Everyone. This is getting very serious. Ammo, guns, and a very serious attitude to go along with them.

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

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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
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

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

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