Another Parallel

242
Tue, Oct 23, 2012 - 10:40am

Continuing with the current theme, here's another reprint for you. Party like it's 2011!!

Just six, short days after calling "Turd's Bottom" and issuing a guarantee, (https://tfmetalsreport.blogspot.com/2011/01/1600-gold-by-june-10-2011.html) all looked lost. It was January 27, 2011. Prices had peaked three weeks earlier in the post-QE2 euphoria and now nearly every "maven" was dumbfounded by the continuing weakness. Sound familiar?

So, for today, I invite everyone to go back to "The Watchtower" and review this post:

https://tfmetalsreport.blogspot.com/2011/01/sour-grapes.html

You'll find all sorts of parallels to today...even references to the sudden appearance of a shadowy "insider" who had begun posting cryptic messages on the Yahoo Finance boards.

Anyway, keep the faith and hang in there. This, too, shall pass.

TF

About the Author

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turd [at] tfmetalsreport [dot] com ()

  242 Comments

Roark
Oct 23, 2012 - 11:38am

@Groaner

Ok. 100 hat tips to you. :) It had been a while since I sprayed Diet Coke all over my iPad...

GroanerRoark
Oct 23, 2012 - 11:39am

I wondered if anyone got

I wondered if anyone got it...

Mickey
Oct 23, 2012 - 11:41am

in any event

I sense today is a good day to be buying the metals or miners-might be better tomorrow but who knows? Its a game to keep the bulk of the folks out of this sector-and my sense also is that folks like us have limited capital to put any stress on cartel.

So if the sovereigns are buying whats that saying and why is the US CB buying treasuries while other CB's buy PM?

Groaner
Oct 23, 2012 - 11:41am

So just 4000 more points to the downside and the dow will be

at fair value.. or still too high?? let's face it, up on helium

The Watchman
Oct 23, 2012 - 11:43am
Gont
Oct 23, 2012 - 11:45am

UCO

Trrr....rryyyyyiinnggggg........ttttt.ttt........ttttoooooooooo

sssssss..........sssssshhhhhhhhhhhove

myyyyyyyyyyyy..........UCO

Uppppppppppppppp.......mmmmmmyyyyyyyyyyyyy aaaaaaaaaasssssssssssssssssssssssssssssssssssssssss

alphamorph
Oct 23, 2012 - 11:50am

Feeling squeezed

Holy crap have I taken a beating on oil but some drillers are holding

their ground today despite continuing plunge in WTC.

A certain aspect of my physicality is seriously puckered over
this PM plunge. I prepared my miners for this on Friday but
second guessed myself yesterday and went back in.

Worthy of note, Trader Dan said over the weekend that we've
essentially touched bottom in PMs so long as the HUI holds $480
area. It rose to over $500 yesterday and currently stands
around $490.

Still hopeful and all in.

Ten_of_Swords
Oct 23, 2012 - 11:51am

Will this be allowed?

It seems to me that an unbiased/independent ratings agency would not be in the interest of the Banks of the world. I think that Egan Jones may be targeted for termination to prevent this from happening. It was EJ that led the downgrading charge.

Reuters / Kacper Pempel

China’s Dagong Global Credit Rating agency is to set up the joint venture with US-based Egan-Jones Ratings Co (EJR) and Russia's RusRating JSC to challenge the three major US ratings agencies.

"The current international credit rating system has proven inadequate to the task of producing responsible and reliable ratings," Dagong said in a statement, adding that a new agency is needed to "mitigate economic risk in the development of human civilization".

The new institution, called Universal Credit Rating Group, will handle global ratings "as an entirely independent rating service provider", which "do not represent the interest of any particular country or group”. Earlier this year the head of Dagong, Guan Jianzhong called for the creation of a global credit rating system with uniform standards.

The rest of the article here:

Groaner
Oct 23, 2012 - 11:52am

The United States of Apple will save the market

New Ipad coming out.. the whole GDP rides on apple..

SilverFocker
Oct 23, 2012 - 12:06pm

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