Patiently Awaiting The Drama

Wed, Sep 5, 2012 - 11:14am

The fun starts tomorrow with ECB news and the ADP numbers. Then it really gets going with the BLSBS on Friday. For today, however, it's a narcoleptic paradise.

It seems no one, including The Bad Guys, is ready to make any substantial bets ahead of The Drama. So, here we sit. As you can see below, both metals are trading in a pretty tight range. I would expect this to continue today with any rallies being capped and any selloffs being bought.

The Pig squealed a bit yesterday bit has since fallen right back toward the 81.20 support/resistance line. Like the metals, I wouldn't expect much substantial movement until tomorrow.

Lots of talk recently about the declining lease rates for silver. Today is such a dull day that it seems a good time to discuss them. There are a couple of things you need to know:

  • I feel that gold lease rates plunges are a more reliable "raid predictor" than silver lease rates.
  • Short-term gold lease rates remain steady around -0.10%, where they've been for the past 5 months.
  • However, on three separate occasions over the past 12 months, you can clearly see where a bottom in lease rates below -0.40% has preceded a short-term top in silver.

Taking this into account, lease rates by themselves are not a reason to lighten positions but they are definitely something you should be checking from time to time.

And I think I finally understand why Nadler is such a first class deltabravo all of the time. It's pent-up, sexual frustration. He knows that a FOAD such as himself has zero chance with hot chicks and, consequently, seeing the Sensual Temptress Daniela roaming the halls every day must drive him crazy! Below is a link where the sultry Ms. Cambone interviews The Great Bill Murphy. Not a lot of new material here. Just a very nice distraction on this very dull day.

Not nearly as exciting but worth the two minutes is this CNBS sketch with Jimmy Rogers:

Here's your daily debka update on the impending MENA disaster:

And, lastly, have you checked out the Baltic Dry Index lately? We were watching it closely earlier this year as it collapsed to multi-year lows near 650. Surprisingly, it then surged back to 1100+ in May and July. Since then, it has collapsed again and currently sits at 698. Sort of like lease rates, the BDI is not some kind of be-all-end-all predictor of future events. It does, however, have significance and it needs to be monitored.

That's it. That's all for now. I'll update later if anything exciting happens. Until then, I'll just be sitting here, watching that kitco clip over and over.


About the Author

turd [at] tfmetalsreport [dot] com ()


Sep 5, 2012 - 11:15am


Silver spike pleaseee!

Sep 5, 2012 - 11:16am

Finally! I can stop

refreshing the page...

Sep 5, 2012 - 11:16am

The end

It's the end of the world as we know it and I feel fine.

Sep 5, 2012 - 11:18am

It Sure Feels Like Something is Ready to SNAP .....

* Fire breaks out at French Nuclear Power Plant

* 7.9 Magnitude Earthquake off Costa Rica Triggers Caribbean Tsunami Warning

* MSM stating Gold going to 1500

* MSM stating Gold going to 2500

Yada, Yada, Yada!

TreeTop Dweller
Sep 5, 2012 - 11:26am

Drinking and Driving

A Top 10 listing?!!!

I would like to share an experience with you, about drinking and driving.

As you well know, some of us have been known to have had brushes with the authorities on our way home from the odd social session over the years. A couple of nights ago, I was out for a few drinks with some friends at the Marriott Hotel and had a few too many beers and some rather nice red wine.

Knowing full well I may have been slightly over the limit, I did something I've never done before: I took a bus home. Sure enough I passed a police road block but as it was a bus, they waved it past. I arrived home safely without incident, which was a real surprise, as I have never driven a bus before and am not sure where I got it.

Sep 5, 2012 - 11:29am

Jim "Big Head" Willie makes an important point

Repost; I was hoping for some feedback on an important point

J-Big Head-W makes what I think is an excellent point
right at the start of this interview.
I have said this before. And now it's more true than ever.
He says; (incredulously and sarcastically~!)
"Are you making the ass-umption that
the public has lots of money to spend on PM's,
OR, that they ever would?"
Precisely my take Jimbo.
The sheeple are slowly or quickly being drained of all their money
- just to maintain their life style or in some cases
just get food and shelter.

Additionally, Sgt. 'Pea Brain -Schultz goes on to say:
And if the market drops- do you think they will take their tiny remains, and go buy the one thing that the MSM has them totally scared of?????????????????????
Now, there are still people with piles of spare cash,
but I maintain that they have been thoroughly dissuaded from any PM investments.
How about both my relatives - rich retired jewelers - who made their fortunes on PMs (!)
BUT who have nothing invested in them?????????????
We must admit, TPTB have spent billions on anti-PM propaganda.
And the sheeple, being good sheeple, are convinced;
''PMs are firstly archaic, and secondly go up an down WORSE than the market.
Besides, are you gonna eat yur silver?''
Let me tell ya, you mention food, and you have the sheeple's UN-divided attention.

"What~!??? McD's won't take Ag for Big Macs? I'm outta there~!"
Sep 5, 2012 - 11:31am

The paper game....

arrrrghhhh.....Now don't get me wrong as I only mess with some of my employers 401k match in my trading account but as of yesterday the miners were doing pretty well this past week making up about 10% of the 30% originally lost this past year. Well yesterday afternoon I decided to take some profit on EXK and GPL but held onto a chunk of AUQ as the technicals looked like it could go a little further....welllll...I wake up this morning and have all of the past week or twos gains gone as AUQ took a 20% dive at the open due to updated guidance it seems.......did I say arrrrggghhhhh.

Sep 5, 2012 - 11:35am
Sep 5, 2012 - 11:37am

The American Dream

patiently awaiting the drama indeed

Sep 5, 2012 - 11:37am

Sensual Temptress?

Different strokes for different folks, and all that... But I vote for Patty Ann Brown.

Yowsa! That's a nice sense of humor!

Patti Ann Browne's Red Eye Intros
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

Subscribe or login to read all comments.


Donate Shop

Get Your Subscriber Benefits

Private iTunes feed for all TF Metals Report podcasts, and access to Vault member forum discussions!

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

Forum Discussion

by Solsson, 4 hours 19 min ago
by Pete, 8 hours 11 min ago
by SteveW, 8 hours 54 min ago
by Phoenix79, Oct 17, 2019 - 6:28pm
by NW VIEW, Oct 17, 2019 - 4:40pm