Deja Vu...All Over Again

386
Thu, Oct 4, 2012 - 10:43am

Shit's gettin' old.

OK, The Bad Guys have been doing their Masters' bidding for three weeks now. Since the introduction of QE∞, the metals have been aggressively capped. Gold has been contained, first below 1780 and, ultimately, 1800. Why? Pull up a long-term chart. Once through 1800, gold will almost immediately press forward to 1850 and then 1900. Silver has been capped, too. The $35 level was defended first but the main target is near 35.50. Once above there, silver will quickly advance toward 37.50.

The Cartel defense of these levels has been consistent and aggravating. But also predictable. I mean, seriously, were you at all surprised by the beatdown earlier this morning? If you were, you haven't been paying attention. First, there was the Globex smackdown of 9/17 followed by similar action the next morning:

We gave it a week and it happened again:

Just three days later, they began attacking during the morning, instead:

The real desperation began this week. Here is Monday:

And Tuesday:

And after taking a break yesterday, they came back again today:

On the bright side, price has since rebounded somewhat while the dollar has continued to slide lower and the London PM fix was again quite busy with new multi-month highs in both $gold and eurogold. The remaining sand is rapidly pouring through the hourglass now and resolution to this seemingly endless capping event is near.

And a heads up. I bought another Dec12 $8 corn call this morning just as I suspected I would earlier this week. I like this chart a lot and we have another crop report due next week (I think). Regardless, a move here through $7.65 should lead to some additional short covering and fresh buying. This should shove corn back toward $7.85 and, once back above there, $8+ will soon follow.

Lastly, just an update on our bullion affiliation with GBI and the Hard Assets Alliance. Though I am still enamored with their platform for buying, storing and even trading metal, I certainly understood the frustration from some regarding their $35 "account setup fee". Apparently they've gotten enough negative feedback now that they've decided to do away with the fee. So, if you haven't already, I invite you to check out the HAA site. Your purchases there help to pay the bills here so please give them your consideration. Thanks!

https://www.hardassetsalliance.com/registration

I hope that everyone has a great day in preparation for what should be a very interesting BLSBS day tomorrow.

TF

About the Author

Founder
turd [at] tfmetalsreport [dot] com ()

  386 Comments

HeNateMe
Oct 4, 2012 - 11:00am
Mantis
Oct 4, 2012 - 11:00am

Missed chance for number 1

missed my chance to get number one by a few minutes while I was posting at the end of the last thread! Dam. My dream remains. Some day that number one spot will be mine. Oh yes it will be mine.

Shared this at the end of the last thread, a cool search engine that values privacy, well worth everyone checking out (in my very humble opinion)

https://Startpage.com

Terp
Oct 4, 2012 - 11:02am

USDA S&D

Yepper Turd,

Next Thursday, Oct 11 is the USDA Supply & Demand report =)

ReachWest
Oct 4, 2012 - 11:03am

Boiling

Silver looking like a boiling pot, right now - back over $35

Cartel waisted a whole lot of trees with that smack down earlier this AM.

¤
Oct 4, 2012 - 11:04am

More Deja Vu

Oh well, no one should be surprised at the zig zagging.

I actually like what I'm seeing at the moment. It's looking up to me

Enjoy the Denzel Washington movie!

Video unavailable
tobydaniel
Oct 4, 2012 - 11:06am

35 again

The smack down should happen any time now.... Perhaps they are letting off a little because they know tomorrow they will be able to kick the crap out of silver with the BLBS report.

Terp
Oct 4, 2012 - 11:06am

To kill time...

Ian McAvity Part 1 | McAlvany Commentary

34:29 minutes

Ian McAvity Part 1 | McAlvany Commentary
robov
Oct 4, 2012 - 11:12am

What Are the Chances of this Happening?

I was thinking on this last night as I looked at the charts. Gold and silver are once again on the verge of a key breakout level. I know things are different this time or should be but of course the Leap Day Massacre id still fresh enough on my memory. The cartel is again massively short and everyone or at least many are awaiting an imminent attack based on the past. Of course everyone here would love to see them overrun. But it would be the first time in history. I can't help but wonder if we don't get the breakout through $1800 and then as usual the crooks pull out all the stops and start the $100 waterfall cascade. I truly want to believe that the demand for physical will out way the paper and that disconnect will happen, but again, it would be a first and it is hard to believe that the cartel would be that dumb or arrogant. Yet why should they be concerned about being able to deliver when your criminal US Government has already made it clear they are standing ready to backstop the Crimex if these crooked banksters get over run. I will remain cautiously optimistic for now.

Patrancus
Oct 4, 2012 - 11:14am

"we've all been here before"

"we've all been here before" it seem to start out with good intentions, did it not?

Crosby Stills Nash & Young Déjà vu
Nana
Oct 4, 2012 - 11:16am

Endless paper

and QE's.....

Subscribe or login to read all comments.

Contribute

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 2/17

2/18 8:30 ET Empire St Manu Idx
2/19 8:30 ET Producer Price Idx
2/19 8:30 ET Housing Starts & Bldg Perms
2/19 2:00 ET January FOMC minutes
2/20 8:30 ET Philly Fed
2/21 Fed Goons all day at Chicago Conf.
2/21 9:45 ET Markit flash Feb PMIs

Key Economic Events Week of 2/10

2/11 10:00 ET Job Openings
2/11 10:00 ET CGP Hump-Hawk House
2/12 10:00 ET CGP Hump-Hawk Senate
2/13 8:30 ET CPI
2/14 8:30 ET Retail Sales
2/14 9:15 ET Cap Ute & Ind Prod
2/14 10:00 ET Business Inventories

Key Economic Events Week of 2/3

2/4 10:00 ET Factory Orders
2/5 8:15 ET ADP Employment
2/5 9:45 ET Markit Service PMI
2/5 10:00 ET ISM Service PMI
2/6 8:30 ET Productivity & Unit Labor Costs
2/7 8:30 ET BLSBS
2/7 10:00 ET Wholesale Inventories

Key Economic Events Week of 1/27

1/28 8:30 ET Durable Goods
1/28 10:00 ET Consumer Confidence
1/29 10:00 ET Pending Home Sales
1/29 2:00 pm ET FOMC Fedlines
1/29 2:30 pm ET Powell presser
1/30 8:30 ET Q4 GDP first guess
1/31 8:30 ET Pers Inc and Spending
1/31 9:45 ET Chicago PMI
2/2 10:00 pm ET Chiefs win SB LIV

Key Economic Events Week of 1/13

1/14 8:30 ET CPI
1/14 9:00 ET Goon Williams
1/15 8:30 ET PPI and Empire Fed
1/16 8:30 ET Retail Sales and Philly Fed
1/17 8:30 ET Housing Starts
1/17 9:15 Et Cap Ute and Ind Prod

Key Economic Events Week of 1/6

1/7 8:30 ET US trade deficit
1/7 10:00 ET ISM Services PMI
1/7 10:00 ET Factory Orders
1/8 8:15 ET ADP employment
1/9 8:00 ET Goon Chlamydia speech
1/9 1:20 ET Goon Evans 2:00 ET Goon Bullard
1/10 8:30 ET BLSBS
1/10 10:00 ET Wholesale Inventories

Key Economic Events Week of 12/16

12/16 8:30 ET Empire State Manu Idx
12/16 9:45 ET Markit flash PMIs Dec
12/17 8:30 ET Housing Starts and Bldg Perms
12/17 9:15 ET Cap Ute and Ind Prod
12/19 8:30 ET Philly Fed
12/20 8:30 ET Final guess Q3 GDP
12/20 10:00 ET Pers Inc and Spending
12/20 10:00 ET Core Inflation

Key Economic Events Week of 12/9

12/10 8:30 ET Productivity and Unit Labor Costs
12/11 8:30 ET CPI
12/11 2:00 pm ET FOMC fedlines
12/11 2:30 pm ET CGP presser
12/12 8:30 ET PPI
12/13 8:30 ET Retail Sales
12/13 10:00 ET Business Inventories
12/13 11:00 ET Goon Williams speech

Key Economic Events Week of 12/2

12/2 9:45 ET Markit Manu PMI
12/2 10:00 ET ISM Manu PMI
12/2 10:00 ET Construction Spending
12/4 9:45 ET Markit Services PMI
12/4 10:00 ET ISM Services PMI
12/5 8:30 ET Trade Deficit
12/5 10:00 ET Factory Orders
12/6 8:30 ET BLSBS
12/6 10:00 ET Wholesale Inventories

Key Economic Events Week of 11/25

11/25 8:30 ET Chicago Fed Nat'l Idx
11/25 7:00 pm ET CGP speech
11/26 8:30 ET Advance Trade
11/26 9:00 ET Case-Shiller home prices
11/26 10:00 ET New home sales
11/26 10:00 ET Consumer Confidence
11/27 8:30 ET Q3 GDP 2nd guess
11/27 8:30 ET Durable Goods
11/27 9:45 ET Chicago PMI
11/27 10:00 ET Pers Inc & Cons Spndg
11/27 10:00 ET Core inflation
11/27 2:00 pm ET Beige Book

Forum Discussion

by Alex777, 5 hours 31 min ago
by Green Lantern, Feb 21, 2020 - 11:13pm
by argentus maximus, Feb 21, 2020 - 5:14pm
by Battantan, Feb 21, 2020 - 4:42pm
by Blackwatersailor, Feb 21, 2020 - 4:17pm
randomness