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

  Refresh
tyberious
Aug 18, 2012 - 11:32am

WOW!WOW!WOW

From Jim Willie… News come from a Hat Trick Letter subscriber who works at BNParibas in London. He wrote in early August,
Meet the new sheriff in town!

"US authorities now going after RBS and Standard Chartered for money laundering. The crack between the Anglo-Saxon bankers is now apparent. Maybe bigger news will be coming out after Olympics are over. Just another observation. On my Bloomberg terminal, the bid/offer for Gold being quoted used to be dominated by Deutsche Bank and UBS. The waterfall declines were usually the handiwork of DBank. Over the last week or so, a new ticker has popped up making quotes which has started to set the price. It is ICBC (Industrial & Commercial Bank of China)."

Bill Murphy on the above:

Wow! The Chinese banks are entering the room to counter the corrupt London protectors of the free world whose stock & trade consists of naked short contracts from corrupted accounts and illicit leveraged strategies emanating from putrid office buildings bearing monikers from the gold cartel.

***

https://harveyorgan.blogspot.com/

beebClinkinKY
Aug 18, 2012 - 11:15am

Here's a chart of 20 min SI -

Here's a chart of 20 min SI - wanna talk about that?

https://www.screencast.com/t/7KJPvr6D

Mickey
Aug 18, 2012 - 11:12am

Magpie

calif tax revenues:

thats 33% down from budget--calif is down 40% from last July.

Magpie
Aug 18, 2012 - 11:07am

How many dead canaries does it take to kill the economy?

California Sales Tax Revenues Nosedive By 33.5%

https://www.testosteronepit.com/home/2012/8/15/california-sales-tax-reve...

The state has avoided default by temporarily borrowing from state trust funds, but those accounts will soon need their cash back to continue operating. Today California quickly began trying to sell $10 billion in municipal bonds to fund the record $28 billion they need to keep the lights on. With tax revenue plummeting and the state already the second lowest rated credit in the country, if the independent credit rating agencies downgrade the state to “junk bond”, California will be short up to $18 billion and default.

ClinkinKYbeeb
Aug 18, 2012 - 11:07am

@ beeb--Can't we take all this crap

Since the markets are closed on the weekends, it's always been pretty much "open topic" during that time period.

I guess we could discuss sports. Hey, how about them Reds?:)

beebTF
Aug 18, 2012 - 10:56am

Thanks Turd.....

Thanks Turd.....

Aug 18, 2012 - 10:50am

This is likely disinformation

NO WAY the Israelis and the U.S. openly advertise to Iran that a strike is coming "in the spring".

Makes me very concerned that something really is coming in the next few weeks.

https://www.debka.com/article/22287/US-Israeli-deal-on-Iran-No-Israeli-strike-now-if-Obama-pledged-a-spring-attack

El Gordo
Aug 18, 2012 - 10:49am

No

I am doing my level best to keep race, politics and assorted other crapola OFF of this main thread.

El Gordobeeb
Aug 18, 2012 - 10:46am

Careful there beeb

they told me that this is the way Turd wants it. Out with the old, in with the new.

Aug 18, 2012 - 10:42am

Well, they would say this, wouldn't they:

Spain says there must be no limit set on ECB bond buying

MADRID | Sat Aug 18, 2012 8:45am EDT

(Reuters) - The European Central Bank must take forceful and unlimited steps to buy sovereign debt to help Spain reduce its refinancing costs and eliminate doubts over the euro zone's future, Spain's economy minister said in comments published on Saturday.

"There can be no limit set or at least (the ECB) can't say how much they will use or for how long," when it buys bonds in the secondary markets, Luis de Guindos told Spanish news agency EFE....

https://www.reuters.com/article/2012/08/18/us-spain-economy-idUSBRE87H03...

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Key Economic Events Week of 8/3

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8/5 9:45 ET Markit Service PMI
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Key Economic Events Week of 7/6

7/6 9:45 ET Markit Service PMI
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Key Economic Events Week of 6/29

6/30 9:00 ET Case-Shiller home prices
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Key Economic Events Week of 6/8

6/9 10:00 ET Job openings
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6/10 8:30 ET CPI for May
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6/11 8:30 ET Initial jobless claims
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Key Economic Events Week of 5/25

5/26 8:30 ET Chicago Fed
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