Some Charts

283
Thu, Dec 20, 2012 - 12:15pm

I've received several requests to "do what I do". So, here you go. (Keeping in mind that you should probably do the opposite.)

First of all, these hourly charts are astonishing. Just six, short trading days ago, The Fed confirmed QE∞ at a minimum of $85B/month, all needed to fund the ongoing U.S. federal deficit. Instead of rallying, the metals have been slaughtered. Why? Hmmm...We've seen this phenomenon in crude before (https://www.zerohedge.com/news/curious-case-post-qe-oil-hangovers) & (https://www.zerohedge.com/news/2012-10-09/why-oils-post-qe-plunge-may-be-over) and apparently it's worked so well there that The Fed and Their Cartel have decided to give it a go in the metals, too.

And now, mainly, I'm just mad at myself because I didn't see this coming. Of course The Fed is going to instruct their minions to crush the PMs. The Fed had no choice but to initiate QE∞ and the last thing they needed was an immediate, perceived quid pro quo with rising metals prices. The metals had to be crushed. It's all a part of their ongoing strategy of MOPE and SPIN. Duh! (Jeez, the more I type the more stoo-stoo-stoopid I feel. Better stop here.)

All that said, there is no reason to think that it's over, that the 12-year PM rally is kaput. I'm sure that the metals will stop and reverse, just like last year. The only question is, where? Since nothing has changed and the fundos are, in fact, even stronger than last year at this time, why would we expect prices to break any lower than they did a year ago? (Keeping in mind that the last sentence was typed by a guy who didn't see this selloff coming.) Sometime soon, the metals will reverse with a sharp, short-covering rally. That rally will likely stall and the momo-shorts will be emboldened to take another stab at the downside. Then, after failing to take things markedly lower, a bottom will form and price will begin to recover. If compelled to trade paper in this environment, here are some charts that show a striking similarity to the action of a year ago.

Hang in there. Good luck.

TF

About the Author

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

  283 Comments

  Refresh
¤
Dec 21, 2012 - 12:05am

Post Mayan Non-Event Celebration

Same as it ever was...

Video unavailable
philipat
Dec 20, 2012 - 11:58pm

@DPH

That Vid was doing the rounds earlier this year, about the same time as this, before she became known. Eye candy time, but a great song also. Sorry off-topic but I'sick of looking at the "Markets".

LANA DEL REY-BLUE JEANS
unfashtandichKatie Rose
Dec 20, 2012 - 11:45pm

I love your posts

I too am a silver stacking, goat milking, farmer at heart. But hard times are here and things are not how we had planned them. Our hope was that silver would be the way we could buy the farm we want and do it right. But now it's a matter of survival while trying to hold on too as much of the stack as possible ,hoping for the big one. All the best to you and keep us updated.

kingboo
Dec 20, 2012 - 11:45pm

@Bill of Rights.......

you have any children?........ the whole fucking incident touched my nerves...... and i get it, hell...i'm as pro 2nd amendment as you will ever find..... but if we're gonna stand up for our Constitutional rights, let's not start by calling one of the Dads "an actor".....because you saw him smile for a millisecond....... get a grip.

¤
Dec 20, 2012 - 11:44pm

philipat

I look yours better

philipat
Dec 20, 2012 - 11:41pm

DPH

The night landing at LAX is, IMHO, far better with the Sugar Cult "Los Angles"sound track. Same vid.

Video unavailable
tyberious
Dec 20, 2012 - 11:35pm

hummm

Is not murder more sin full?

Mr. Fix
Dec 20, 2012 - 11:33pm

RE, Alternative View, Why I don't like charts.

It has been a very long day, and I'm just going to go to sleep a little bit early tonight.

After reading the post entitled “Alternative View” just above, it made me realize that I hadn't posted all night long.

I wasn't going to anyway, since I really have a disdain for trying to predict anything with a chart.

But in the post "Alternative View", it says that somehow these charts are telling him that everything's okay, and explains why money is pouring into stocks, and out of precious metals. I suppose charts work a lot like statistics, you can interpret them anyway you want.

Heck, I've even felt that way about the Bible, but I digress.

The person that made that quote is desperately trying to find an explanation that does not include manipulation. That is one seriously lost soul, or a statist tool.

I'm probably just wearing blinders, because I know a lot of people that are far better educated than myself look at charts every day to determine their course of action in these markets. Could somebody tell me what the validity of using a chart to predict what is coming is when there is obviously no correlation between what is happening as compared to the fundamentals?

We all know that it is being manipulated, all that's left to do is try to figure out what the endgame is.

Charts are not going to tell us that. This I firmly believe.

Do your charts tell you when we are going to hit a bottom?

If so, where is it? If you took away the chart, then could you ask why there has to be a bottom?

Just some thoughts before I doze off, I heard somewhere tonight that tomorrow is the end of the world as we know it, I'll see you then.

Good night.

¤
Dec 20, 2012 - 11:23pm

The World is a Vampire

It's a cruel world, nothing more, nothing less.

It's not as sour as it sounds, just the cold reality of dog eat dog.

The Smashing Pumpkins - Bullet with Butterfly Wings
tmosleyTexasStacker
Dec 20, 2012 - 11:22pm

@TexasStacker

Not to defend end of the world hokum, but the Mayan Calendar ending isn't necessarily religious. It's astronomical.

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 5/25

5/26 8:30 ET Chicago Fed
5/26 10:00 ET Consumer Confidence
5/27 2:00 ET Fed Beige Book
5/28 8:30 ET Q2 GDP 2nd guess
5/28 8:30 ET Durable Goods
5/29 8:30 ET Pers Inc and Cons Spend
5/29 8:30 ET Core Inflation
5/29 9:45 ET Chicago PMI

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

Recent Comments

by scoremore, 35 sec ago
by lakedweller2, 3 min 9 sec ago
by robobrewer, 5 min 59 sec ago
by lakedweller2, 9 min 47 sec ago
by scoremore, 12 min 33 sec ago