Looking Ahead

354
Sat, Oct 6, 2012 - 12:56pm

Unfortunately, all the White-Out in the world wouldn't have been enough to hold back the BS of the BLS. So, after failing to get our breakout yesterday, we must regroup and reassess.

On the bright side the charts still look pretty clear and we'll get to them in a minute. First, we have to address the outrageous CoTs from yesterday.

Outrageous, disgusting and pathetic. These are just a few of the terms that could be used to describe the latest actions of The Cartels as well as the inaction of the CFTC. Despite all of the "good cop" bluster of "Thunderlips and Baldy", the remain collusive partners in crime and enablers of The Cartels. Here is the conclusive data:

GOLD

Tuesday, 8/14: Price closed $1602. Total Gold Cartel gross short position 291,358. Net short ratio 1.98:1.

Tuesday, 9/11: This is the Tuesday before the surprise announcement of QE∞. Price closed $1735. Total Cartel gross short position 380,239 (+30%). Net short ratio 2.66:1.

Tuesday, 10/2: Price closed $1775. Total Cartel gross short position 405,520 (+7% from pre QE∞ level). Net short ratio 2.98:1.

SILVER

Tuesday, 8/14: Price closed $27.85. Total EE gross short position 71,199. Net short ratio 1.49:1.

Tuesday, 9/11: Price closed $33.57. Total EE gross short position 79,478 (+11.6%). Net short ratio 2.47:1.

Tuesday, 10/2: Price closed $34.67. Total EE gross short position 93,628 (+17.8% from pre QE∞ level). Net short ratio 2.62:1.

Again, this is grotesque. In gold, The Cartel has doubled their net short ratio in this 6-week rally from $1602 to $1775, from roughly 2:1 to the current 3:1.

Silver is where the real outrage should lay. That the comically-ineffective CFTC has yet to conclude that manipulation exists is beyond belief. Not only did The Evil Empire (namely JPM) increase their gross short position by almost 12% during the initial rally pre-QE∞, they have sped up the issuance of unbacked paper by 50% in the days since! Note that, in the past three weeks alone, The EE has increased their gross short position by almost 18% to an unbelievably disgraceful 93,628 contracts. And, since the beginning of this rally, they have now increased their total net short position by 34,438 contracts for a change of +148%!!

Again, this is outrageous! In attempting to cap price and protect the buy-stops above $35.50, the EE has added 14,150 brand new paper short contracts in just the past three weeks. If forced to deliver and supply actual metal, this is the equivalent of 71,000,000 ounces of silver! Even using the worthless GFMS numbers, that's 10% of all silver to be mined in 2012! Again, the only word that comes to mind is outrageous.

<deep, calming breath>

<another one>

OK, please don't get discouraged, however. What these arrogant fools seemingly fail to understand is that their era has ended. Like a dinosaur across the planet from the Yucatan when the asteroid hit, they are continuing upon their merry way, unaware that the seeds of their destruction have already been sown. Physical demand plus other, pending extraordinary events will soon crush them. Patience, grasshoppah. You should be utilizing this time to continue padding your stack. You might also consider buying popcorn and other refreshments because, when this Cartel scheme finally collapses...and it soon will..the resulting fireworks show is going to spectacular.

Here are your charts for the week ahead. From the looks of it, we should probably expect 5 to 7 more trading days under this lousy cap. Time, however, is rapidly passing through The Witch's hourglass. Again, just be patient and you will be rewarded.

First, the clear technical rationale for the against-all-odds, desperate capping effort:

These 8-hour charts show the closing of longer-term "triangles":

And these RSI charts show that just a little more time may be needed to work off any remaining "over-bought" conditions:

So, that's all for now. I've nearly blown my entire Saturday morning putting this post together and I think it's time to go watch some football. I hope that you have a relaxing and fun weekend. More on Monday!!

TF

About the Author

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

  354 Comments

  Refresh
Eric Original
Oct 8, 2012 - 11:10am

Good one, Airgead!

Good one, Airgead!

Airgead
Oct 8, 2012 - 11:09am

@ Horst

Don't mention the magic underpants of the Mormons! You'll get under fire by the TF pack haha!

Mantis
Oct 8, 2012 - 11:03am

@ivars

i'm very interested in your viewpoints, particularly the GSR. may i ask how far ,in your opinion, you reckon the ratio may fall on its current downward trend.

I'm guessing your strategy (similar to mine) might be to buy silver and then swap it for gold when the ratio reaches a certain point?

Thanks for your involvement in these discussions.

Strongsidejedi
Oct 8, 2012 - 10:59am

REMEMBER - It's Canada's holiday

Canada is on holiday!

No trading in Canadian markets.

Therefore, Is Sprott on Thanksgiving?

Leave it to Rick Rule and the Sprott San Diego guys.

It's 8 AM Pacific.

Do you know where your asset management firm is at?

Nana
Oct 8, 2012 - 10:59am

Part Of The Solution

https://www.amendment-13.org/

The Original Thirteenth Article of Amendment
To The Constitution For The United States

"If any citizen of the United States shall accept, claim, receive, or retain any title of nobility or honour, or shall without the consent of Congress, accept and retain any present, pension, office, or emolument of any kind whatever, from any emperor, king, prince, or foreign power, such person shall cease to be a citizen of the United States, and shall be incapable of holding any office of trust or profit under them, or either of them." [Journal of the Senate]

https://www.apfn.org/apfn/13th.htm

The Original 13th Amendment
This Article of Amendment, ratified in 1819 and which just "disappeared" in 1876, added an enforceable strict penalty, i.e., inability to hold office and loss of citizenship, for violations of the already existing constitutional prohibition in Article 1, Section 9, Clause 8 on titles of nobility and other conflicts of citizenship interest, such as accepting emoluments of any kind for services or favors rendered or to be rendered, and is particularly applicable today in the 21st Century as government is increasingly FOR SALE to the highest bidder, as foreign and multinational corporations and individuals compete to line the pockets of politicians and political parties to accommodate and purchase protection or privilege, i.e. honors, for their special interests.

fertzeltwist
Oct 8, 2012 - 10:31am

Horst

I see you have been run over by the TF welcome wagon! The folks here are mostly brilliant but also can be very bitter (instead of "bitter clingers", I prefer "bitter pasters").

They don't take kindly to criticism, especially from newbies. They will soon satiate their egos by bitterly pounding the ignore button, so don't stress. They will make themselves happy by posting "sweet home Alabama" again.

All I know of Austria is they make a fine dirt bike (almost one the open class on a 360 in 98), although the parts prices make them cost prohibitive. At least Austria still has pride in their manufacturing sector (we forgive you for the Fabio thing).

I would be more upset about you disparaging America, If it was still "our" country, but sadly it is not. That is not to say that it will not be again, but much pain will be required to accomplish this, and Americans have not yet woken to this fact. I will remain hopeful as I search for a new way to involve myself in the process. Unfortunately TPTB are experts at infiltrating and destroying organic movements from within, and it is getting harder to know who to trust.

Key Economic Events Week of 5/18

5/18 2:00 ET Goon Bostic speech
5/19 8:30 ET Housing starts
5/19 10:00 ET CGP and Mnuchin US Senate
5/20 10:00 ET Goon Bullard speech
5/20 2:00 ET April FOMC minutes
5/21 8:30 ET Philly Fed
5/21 9:45 ET Markit flash PMIs for May
5/21 10:00 ET Goon Williams speech
5/21 1:00 ET Goon Chlamydia speech
5/21 2:30 ET Chief Goon Powell speech

ivars
Oct 8, 2012 - 10:22am

@RRJI-change of rules->Basel III

Well Basel III is clearly a change of rules compared to times when CBs were net sellers of gold. Basel III is in favor of stacking gold in banking system. As cash. As collateral. As economy gets more dire, more gold will be sold by public to dealers and banks, or presented as collateral for cheap loans.

So, January 1st, 2013 may be also a nice target day for gold price, and after election 2 months coming into that day should show clearly ascending trend , and , it could well be that after Basel III comes in force, the gold price will just JUMP never to return to previous median price - since is it not after a very long period that gold is back into banking system?

I think it will jump to around 2500 USD never to look back. Because of my chart. The gold chart which is still correct. When this jump is in making, GSR will move up, but before it still has to move down. There has to be a sharp spike down in GSR before it moves up again to 60. Because, as gold starts to move up clearly, silver will accelerate faster and will be caught in overbuying peak.

Unfortunately I can not anymore get the logarithmic chart on FreeCharts. Something has jammed. Any suggestions where to get gold, silver prices with possibility to see log chart and add lines etc? Thanks in advance!

Sisyphus
Oct 8, 2012 - 10:22am

@Horst

"If we seem paranoid, it's because our GOVERNMENT is out to destroy us."

So why should Austrians be any different?

Marblesonac
Oct 8, 2012 - 10:16am

@horst

If we seem paranoid, it's because our GOVERNMENT is out to destroy us.

Not all Americans are paranoid when going into the woods...or Mountains. This young lady has ice in her veins.

Wrangler charges griz to save boy in Flathead

September 20, 2011 3:30 pm • By RICH LANDERS The Spokesman-Review (0) Comments

Wrangler Erin Bolster and Tonk, a Percheron mix.

WEST GLACIER - A young woman on a big horse charged out of the pack of grizzly bear stories this summer near Glacier National Park.

In a cloud of dust, the 25-year-old wrangler likely saved a boy's life while demonstrating that skill, quick-thinking and guts sometimes are the best weapons against a head-on charging bear.

full story Here:

https://missoulian.com/news/state-and-regional/article_0d0e83fc-e33a-11e...

Urban Roman
Oct 8, 2012 - 10:11am

Damn,

this thing works just like ZH. Click the 'post' button and nothing happens.

Then tab off and do something else and when you come back, you've posted multiple times.

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 5/18

5/18 2:00 ET Goon Bostic speech
5/19 8:30 ET Housing starts
5/19 10:00 ET CGP and Mnuchin US Senate
5/20 10:00 ET Goon Bullard speech
5/20 2:00 ET April FOMC minutes
5/21 8:30 ET Philly Fed
5/21 9:45 ET Markit flash PMIs for May
5/21 10:00 ET Goon Williams speech
5/21 1:00 ET Goon Chlamydia speech
5/21 2:30 ET Chief Goon Powell speech

Key Economic Events Week of 5/11

5/11 12:00 ET Goon Bostic speech
5/11 12:30 ET Goon Evans speech
5/12 8:30 ET CPI
5/12 9:00 ET Goon Kashnkari speech
5/12 10:00 ET Goon Quarles speech
5/12 10:00 ET Goon Harker speech
5/12 5:00 ET Goon Mester speech
5/13 8:30 ET PPI
5/13 9:00 ET Chief Goon Powell speech
5/14 8:30 ET Initial jobless claims and import prices
5/14 1:00 ET Another Goon Kashnkari speech
5/14 6:00 ET Goon Kaplan speech
5/15 8:30 ET Retail Sales and Empire State index
5/15 9:15 ET Cap Ute and Ind Prod
5/15 10:00 ET Business Inventories

Key Economic Events Week of 5/4

5/4 10:00 ET Factory Orders
5/5 8:30 ET US Trade Deficit
5/5 9:45 ET Markit Service PMI
5/5 10:00 ET ISM Sevrice PMI
5/6 8:15 ET ADP jobs report
5/7 8:30 ET Productivity
5/8 8:30 ET BLSBS
5/8 10:00 ET Wholesale Inventories

Key Economic Events Week of 4/27

4/28 8:30 ET Advance trade in goods
4/28 9:00 ET Case-Shiller home prices
4/29 8:30 ET Q1 GDP first guess
4/29 2:00 ET FOMC Fedlines
4/29 2:30 ET CGP presser
4/30 8:30 ET Pers Inc and Cons Spend
4/30 9:45 ET Chicago PMI
5/1 9:45 ET Markit Manu PMI
5/1 10:00 ET ISM Manu PMI

Key Economic Events Week of 4/20

4/20 8:30 ET Chicago Fed
4/21 10:00 ET Existing home sales
4/23 8:30 ET Weekly jobless claims
4/23 9:45 ET Markit flash PMIs
4/24 8:30 ET Durable Goods

Key Economic Events Week of 4/6

4/8 2:00 ET March FOMC minutes
4/9 8:30 ET Producer Price Index
4/10 8:30 ET Consumer Price Index

Key Economic Events Week of 3/30

3/31 9:45 ET Chicago PMI
4/1 8:15 ET ADP Employment
4/1 9:45 ET Markit manu PMI
4/1 10:00 ET ISM manu PMI
4/2 10:00 ET Factory Orders
4/3 8:30 ET BLSBS
4/3 9:45 ET Market service PMI
4/3 10:00 ET ISM service PMI

Key Economic Events Week of 3/23

3/24 9:45 ET Markit flash PMIs
3/25 8:30 ET Durable Goods
3/26 8:30 ET Weekly jobless claims
3/27 8:30 ET Personal Inc and Spending

Key Economic Events Week of 3/9

(as if these actually matter)
3/11 8:30 ET CPI
3/12 8:30 ET weekly jobless claims
3/12 8:30 ET PPI
3/13 8:30 ET Import Price Index

Key Economic Events Week of 3/2

3/2 9:45 ET Markit Manu PMI
3/2 10:00 ET ISM Manu PMI
3/2 10:00 ET Construction Spending
3/4 8:15 ET ADP employment
3/4 9:45 ET Markit Service PMI
3/4 10:00 ET ISM Services PMI
3/5 8:30 ET Productivity & Unit Labor Costs
3/5 10:00 ET Factory Orders
3/6 8:30 ET BLSBS
3/6 10:00 ET Wholesale Inventories

Recent Comments

randomness