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

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Rui
Aug 17, 2012 - 11:21pm

@ancientmoney & DPH: Regarding gold at 55,000/oz

If government bids gold price up to 55,000 then gold bugs would sell and switch to new asset holdings with more appreciation potentials. W/ so many fresh 55Ks in each gold bug's hand, they are bound to spill into the commodity market simply b/c it's a suppressed market (just remember gold bugs are searching for appreciation potential, and they are smart). What happens to food price if commodity starts soaring?

You see it' won't be that just gold goes up while everything stays the same. Gold goes up faster but not alone. Market dynamics don't work that way, and that's one of quite a few flaws in the FreeGold theory.

Dyna mo humEl Gordo
Aug 17, 2012 - 11:17pm

El Gordo

I think Bunker Hunt was the founder of "Campus Crusade for Christ". A very worthy organization that my daughter was active in. He was quite a fellow.

Magpie
Aug 17, 2012 - 11:08pm

@Mr. Fix

but if things continue in their current trend,

there will be some extremely hard times ahead for everyone.

We felt trapped, too, but we were more afraid to stay than to leave. I don't think CA has even come close to reaching peak insanity yet.

I hope you and your business both survive the economy. The UE rate went up 12% here in NV........maybe a canary in the coal mine as discretionary income declines?

Dyna mo hum
Aug 17, 2012 - 11:04pm
El Gordo
Aug 17, 2012 - 10:52pm

More on Bunky Hunt

I seem to remember Bunky's testimony at a Senate committee. One of the pompous asses said "Well Mr. Hunt, it's rumored that you may have lost up to a billion dollars in silver trading. Is that true that you could have lost such an enormous sum?" Bunky, being a Texas oilman, replied "Well Senator, you know a billion dollars just ain't what it used to be, is it?"

When asked how much he was worth, Bunky said he didn't know for sure, but he figured that anyone who knew what he was worth probably wasn't worth very much.

Mr. Fix
Aug 17, 2012 - 10:51pm

It's not all that hard.

@ Magpie,

I have spent the better part of the past 40 years building a business here.

Most of my customers have been with me for decades now.

I am becoming too old to try to re-create that somewhere else.

As a result, I am beginning to feel trapped in the socialist Republic of New York.

There will be no pension in my future to live off,

I've only got what I have here.

The worst part is, many of the customers that I have had for years are now flat broke.

Many of the houses on my street are either foreclosed, abandoned, or for sale.

The rest are so far upside down on their mortgages, they can't breathe.

Compared to most of them I am lucky,

but if things continue in their current trend,

there will be some extremely hard times ahead for everyone.

I have noticed particularly in the last year,

I have had to work much, much harder,

for much less money.

And the IOUs are beginning to pile up.

It's getting scary.

At least I have no debt.

tyberious
Aug 17, 2012 - 10:43pm

Ben Fulford

https://kauilapele.wordpress.com/2012/08/13/benjamin-fulford-8-13-12-pen...

"Mathematically speaking there are only two real choices. One is for the US to issue a devalued treasury dollar in exchange for a one-off debt write off. The other is to wait for US income levels to fall to Chinese levels.

Either of these two choices will make the US real economy once again competitive. The first will mean a sudden jolt as the economy returns to reality and all those Chinese knick knacks at Walmart suddenly become expensive. This will be followed by a quick boost in the real economy and manufacturing, led by exports and domestic demand. The other will mean unemployment and misery will steadily increase until enough people are willing to work for Chinese wages.

In Europe, meanwhile, the Euro crisis has gone to the back burner as everybody takes their holidays but it will get far worse in the autumn. Once again, there is no need for secret inside sources to see what is going on. The Europeans (especially the one living along the Mediterranean) have been spending more than they have earned for 30 years and creditors have come a calling. The Germans could not afford to bail out their irresponsible Southern cousins even if they wanted to. The people of Iceland showed the way with a sudden 15% drop in income (in other words back to what they earn doing real things like fishing) followed by a rapid recovery and the arrest of guilty bankers. This is what must happen in other countries if this crisis is to end."

codematrix
Aug 17, 2012 - 10:43pm

That meathead is Mike Fisher and he is my wife's cousin

Turd, I met Mike Fisher a few times. He's really good guy that is very generous and gives back to the community.

Bsong
Aug 17, 2012 - 10:42pm

OMG

It is confusing to listen in agreement with Louis Farrakhan. But he is at the very least close to the truth in that video. Except I don't believe the rothschilds are truly Jewish.

¤
Aug 17, 2012 - 10:35pm

Aqualung ~ Jethro Tull

Aqualung - Jethro Tull (1971) HD FLAC ~MetalGuruMessiah~

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