Select Stocks Send Signal

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 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. ( 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? 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.!

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


About the Author

tfmetalsreport [at] gmail [dot] com ()


Aug 18, 2012 - 10:37am

Can't we take all this crap

Can't we take all this crap about race and politics off the main thread and put it in the forums AS REQUESTED BY TURD and keep at least one part of this site reserved for discussion of metals......

Aug 18, 2012 - 10:35am

A segue from Farrakhan to Oil

I really did misinterpret the headline first read: Black press plans to refine black gold by The Canadian Press - Story: 79265
Aug 18, 2012 / 7:17 am Raw bitumen and diluted bitumen are displayed in jars as newspaper publisher David Black speaks about his proposal to build a refinery in Kitimat to refine oil from the proposed Enbridge Northern Gateway Pipeline, during a news conference in Vancouver, on Friday August 17, 2012 A British Columbia newspaper mogul has injected himself into the debate over the controversial Northern Gateway pipeline, revealing a proposal Friday for a $13-billion refinery to export processed fuels rather than oil-sands crude to Asia.

David Black's plan prompted immediate skepticism from First Nations, politicians and observers. They noted the proposed refinery in Kitimat does nothing to solve the environmental concerns of the pipeline and pointed to Black's own admissions that he has no investors, no confirmed buyers and no commitment from Northern Gateway proponent Enbridge (TSX:ENB) to actually access the raw bitumen....

Aug 18, 2012 - 10:34am

Jay Leno was a poor Mafia choice !

Conan "Johnny Carson" Obrien should have got the gig ! Richter was the perfect "Ed McMahon" shill ! Monedas 1929 Comedy Jihad Conan Is Red Skelton's Bastard Grandson

Aug 18, 2012 - 10:34am

on the other hand.....

i'd like to set out a counterpoint to mr. farrakhan's words.

“The white man is our mortal enemy, and we cannot accept him. I will fight to see that vicious beast go down into the late of fire prepared for him from the beginning, that he never rise again to give any innocent black man, woman or child the hell that he has delighted in pouring on us for 400 years.”
– Louis Farrakhan, City College audience in New York

in particular, i'd like to address the "hell that he (the white man) has delighted in pouring on us for 400 years.”

a) as boatman pointed out above, it was blacks in africa themselves (not the white man) who enslaved the ancestors of today's american blacks.

b) blacks in africa continue to practice slavery to this day.

c) the decendants of those black slave traffickers continue to live in africa, under conditions not far removed from the stone age, while american blacks live in homes with electricity, central heat/a.c. and running water. (also paved streets, sewers, public education, ready to wear clothing, abundant food, low infant mortality, high life expectancy, etc... etc...)

i submit that it was blacks (not whites) who poured hell on the heads of blacks. yes, living in slavery was a hardship. just ask those whites who came here as indentured servants (temporary slaves).

all that was a looooong time ago. get over it. get a job. pay your own bills. raise your family. ...or would you rather live in a shack in liberia and dodge tse tse flies?

Aug 18, 2012 - 10:29am

@benque re: hui weightings

Thanks--thats the january weightings and I was looking for a more current one. AMEX used to have it but thats become part of NYNET and it appears they charge for that info if they do indeed have it, which is probably why what you cut and paste is from January.

I use e signal and link to an excel spreadsheet data so I can see in an instant how miners are performing (and components of other indices also such as dow and my watch list-with ytd returns vs indices and qtr returns--that why I can spot outperformers faster, or even on a daily basis (ie whats dragging HUI or GDX today).

I just cannot find anything current on HUI now. XAU is updated daily as is gdx.

Anybody else have an idea where the current one is--I have a question in to the NYX Data group to see where it exists-someone has to have it otherwise how do they weigh the index-another black box like all the other bullcrap info we get from govt (like the seasonal adjustment for July retail sales overstating this last weeks report).

when the rank and file find out how much BS comes out of government and it all paints too good a picture--the equity and fixed income markets crap out and people will only trust precious metals--at least those smart enough.

Aug 18, 2012 - 10:22am

Farrakhan is a low grade moron !

He is, however, more than capable of leading his brain dead followers ! Obama is a mid-range moron ! Monedas is a blue blood, high grade, elite moron in comparison ! Monedas 1929 Comedy Jihad 'Taint Braggin' Ifin' It's True

ClinkinKYDoctor J
Aug 18, 2012 - 10:21am

No problem Dr J...

...I was promised a "chicken in every pot". Still waiting:)

Aug 18, 2012 - 10:20am

When Bart Chilton is done blow drying his hair....

Great line from Max that cracks Morgan up.

Now it has stopped raining I'll stop posting and hit a while ball around muddy grass.

Eric Original
Aug 18, 2012 - 10:18am

Good Morning, Xty!!

Great to see you up and about. Now, get busy on your entry for the Talk Like A Pirate Day Youtube Contest! Arggg!

Win the 2012 Video Contest for Talk Like a Pirate Day ITLAPDAY2012VIDEOCONTEST
Aug 18, 2012 - 10:17am

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