Select Stocks Send Signal

289
Fri, Aug 17, 2012 - 10:43am

Perhaps we have a new acronym on our hands? The SSSS. Yesterday, quite by chance, I noticed that several of the best mining stocks are making 6-month highs. Is this another signal that higher metals prices are right around the corner?

Yesterday afternoon, I opened an app on my phone that is programmed to follow the major indices as well as 15-20 miners. I only opened it to see how the overall stock market was faring (which is something I rarely do) and then I scrolled down to look at a few miners (which is something I do even less). A couple of them caught my eye. I saw GOLD (Rangold) first and noticed that it was pushing 100. Then I noticed AEM (AgNico Eagle) and thought it looked noticeably higher, too. I pulled up charts and saw that they are both at 6-month highs. Wait a minute here. Hold on just a second. Isn't it curious that two, top miners would be moving to new 6-month highs while the metals are still stuck in a trading range?

The last time GOLD was near 100 was last March when gold was near 1700. The last time AEM was $46 was last November, when gold was close to 1750. What does this mean? Beats the crap out of me! But seriously...this could be phenomena specific to these companies...OR...it could be just another sign of the impending resurgence and rally in the price of the metals.

The next question should be: Do any of the other miners look like this? Well, not really. I did find two of our old favorites that are perking up a bit following recent earnings "disappointments" and need to be watched.

And the HUI itself is looking better. I can't give an ALL CLEAR yet but...if the HUI can keep rolling higher and post a few closes over 460...there may finally be reason for optimism in the mining sector.

And, of course, any mention if the term "HUI" here in Turdland comes with the obligatory posting of the SMOKING HOT Carrie Underwood singing about it. (Neo-turdites should know that, to my partially-deaf left ear, "undo it" sounds like "the hui".) (And I'll never understand what she sees in that meathead hockey player.)

Carrie Underwood - Undo It (Official Music Video)

OK, after I wipe off the cold sweat in which I suddenly find myself drenched, it's back to business. In an absolutely stunning development, the metals surged this morning at the open, only to be CAPPED ONCE AGAIN near 1620 and 28.25. Though I know many of you are getting sick of this crap and are dying to see the metals break out, you must remain patient. Fundamentally, gold and silver are extremely strong and, even when left to their own devices, are poised to eventually break out. ( https://stream.marketwatch.com/story/markets/SS-4-4/SS-4-9338/) But, screw that. I don't want to wait much longer so maybe we can begin forcing the issue next week. Until then, here are graphic representations of our current predicament.

And I'm not sure which of these two stories make me feel more nauseous. You'll likely read the NYT story before heading off to barf and then return to watch the video before getting sick again. First up, all of the conniving, criminal thieves at MFingGlobal are apparently set to walk free. Hmmm, I've got an idea. What do you say you and I start an investment firm where we take client money and use it to place huge, extremely risky trades. Then, when it all breaks down and the clients lose their money (which they were told was "safe" and "segregated"), we simply laugh it off as "porous risk controls" and walk away. How do you think that might work out for us? Maybe just a bit differently than it has for the criminal Corzine and his merry band of politically-connected, reprehensible outlaws? https://dealbook.nytimes.com/2012/08/15/no-criminal-case-is-likely-in-loss-at-mf-global/?hp And don't forget that just last week, your Seventh Circuit Court of Appeals established as precedent that the theft of client funds is now completely legal. God Bless the U.S.A.!

https://www.businessweek.com/news/2012-08-09/bank-of-new-york-mellon-wins-appeal-on-312-million-lien

https://www.reuters.com/article/2012/08/10/us-sentinel-appeals-decision-idUSBRE87900T20120810

And then there's this. I found this video on ZH last night. It is a time-lapse progression of the ownership makeup of the U.S. treasury market. Note that, in 2003, the Fed had a nearly even ownership across the curve. Watch then how this progresses. Now, the Fed is nearly out of short-term treasuries but they have come to completely dominate everything with a maturity of 3 years to 30 years where they own as much as 70% of the market! Simply amazing. And disgusting! This is America, land of the free and home of the brave where capitalism and free markets create productivity by equitably deciding who wins and who loses. NOT!!!

Fed vs. Private Sector Treasury Holdings

Listen up, you witch. Your days are numbered. We're onto you and soon you and all of your monkeys will be sent scurrying into exile. Perhaps you will be lucky and be allowed the fate of that goon, Corzine. Perhaps not. In the end, it matters little. All that does matter is that the game is ending and you are going to lose.

Drago: You Will Lose

TF

About the Author

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turd [at] tfmetalsreport [dot] com ()

  289 Comments

El Gordo
Aug 17, 2012 - 10:57am

First

1st - Well, at least I beat one person here.

Eric Original
Aug 17, 2012 - 10:59am

You guys are a hoot

You guys are a hoot.

TGIF everyone.

¤
Aug 17, 2012 - 11:03am

TGIF & This Weekend

Dragging this forward from the end of the last thread in response to DT

https://www.tfmetalsreport.com/comment/118356#comment-118356

Here's the chart she alluded to...

Market Emotions

Submitted by DrkPurpleHaze on August 17, 2012 - 10:05am. https://www.tfmetalsreport.com/comment/118348#comment-118348 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Much nicer

Submitted by DrkPurpleHaze on August 17, 2012 - 10:36am.

I agree DT and to think all it took was a slow knife fight the last few weeks. Ouch!

I think this weekend on here, demeanor wise, is an important one for the site and I think all of us in here (and the lurkers) want and need a relaxing one.

TF certainly does, so lets give him one.

So to that end, I'm committed to being just that....relaxed and positive and trying to inform and keep things moving along. Some hard news would help all of us out and get us to focus on something instead of this 'nothing' market and especially what appears to be a lack of any plan on TPTB's part at this time to seriously address it. I think they're worried also and prepping.

My personal opinion right now, is that their attention is distracted from what is lining up in MENA and that they know is about to take place. Sadly, war has always played a economic part in the reason why they might be waged. The resulting destruction always prompts growth through rebuilding. It would give the CB's and TPTB the opening to do massive QE without any publicity or market fanfare.

Regarding wartime QE. They didn't have a name for it 'back then' but the amount of money that was added to the money supply during WWII must have been immense and without scale on a inflation adjusted basis. Think about it.

The Govt. put lots of capital to work suddenly and it never had a name attached to it except for "the war effort". I'm not sure how the market reacted to it back then because they were probably worried and more concerned about Pearl harbor and everything else that was going on . But that unnamed QE back then by all the worlds Govt.'s (especially the U.S.) was a giant stimulus and we all know what gold was doing back then at that time....nothing. This time will be different.

War brings economic activity before, during and after the conflict. Growth through destruction is an old concept.

Twisted logic maybe, but that seems to hold true.

TGIF

bam
Aug 17, 2012 - 11:05am

.

.

Dagney Taggart
Aug 17, 2012 - 11:14am

(No subject)

Video unavailable
indosil
Aug 17, 2012 - 11:16am

Saving Fiat

Dear Turd,

Just wondering if we will se a beatdown before Jackson Hole & Euroevents starting around 31st of August & extending to 1st week of september.The phony datas like BLS still move the market.The data has been mixed till now.So should i hold my fiat for now or save it for the 1st week of September.

ClinkinKY
Aug 17, 2012 - 11:20am

Baaa! Lambs to the slaughter...

...which dorm would you want your child to live in?

-----------------------------------------------------------------------------------------------------------

https://www.denverpost.com/breakingnews/ci_21327679/cu-segregate-dorms-students-concealed-carry-permits

University of Colorado Quarantines Those Who Exercise Second Amendment Rights

University of Colorado educrats are introducing segregated housing to prevent a despised minor from infecting others with their political incorrectness.

The University of Colorado Boulder and University of Colorado at Colorado Springs are amending their student housing contracts, segregating students who possess a valid concealed weapons carry permit.

The university said Thursday that both campuses will establish a residential area for students over the age of 21 with a permit. In all other dormitories, guns will be banned, the new policy states.

Considering the fascistic moonbat ideology shared by virtually all college administrators, why don’t they just ban all guns for everyone? They tried, but…

…the Colorado Supreme Court upheld an appeals court ruling that struck down CU’s gun ban.

Thus the ghettoization. The familiar strategy is to put gun owners in an ever smaller box, in preparation for the day that box can be wrapped in chains and thrown in a river.

Burglars and gun-wielding maniacs can direct their activities accordingly.

dropout
Aug 17, 2012 - 11:20am

Good Advise

That's what Turd and the Turdite's dispense here.

Stay the course. The breaking point draws ever closer for the EE.

Its like attempting to physically hold down the lid on a pressure cooker, while the heat is slowly turned up!

Sooner or later its going to blow. Istill say those levels will be;

Gold at $1,710.00 and silver at $31.10 then at $34.50 But first to the initial breakout, which IMHO will occur over this next 6 to 8 weeks. We could have REAL zombies walking the streets this Halloween!

ag1969
Aug 17, 2012 - 11:23am

@Dagney

I had to watch that Rush Video three times. I actually saw them on that tour. Thanks for the TGIF flashback. Awesome.

tobydaniel
Aug 17, 2012 - 11:24am

No disrespect but metals are not strong here

Sure, they may hold for a while until the Cartel wants them to move lower to the mid 27's but they are still fully controlled. Anyone who disagrees with that should just recap the last several months with the precise moves we have had over and over again. The definition of strong would be that it moves higher because of the law of supply and demand. Even if silver went to 50, it still would not be strong because if silver were to trade according to supply and demand, silver would be over 100 bucks today and would have extreme moves going up like 5 to 10 dollars a day from here. Until then, silver is like a weak little puppy dog with a mean owner. Until that owner is put in jail for animal cruelty, silver will remain a controlled weak puppy dog. That is of course until they go long silver... but why would they do that? Their main objective it to protect the US Dollar. So full circle, until the dollar collapses, silver will be in essence, weak and will not enjoy the benefits of supply and demand.

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