Travel Day

Thu, Jan 3, 2013 - 12:06pm

Between packing and heading to the airport, I thought I'd squeeze in this post.

Not much happening today ahead of the FOMC minutes and the BLSBS tomorrow. The metals are consolidating their recent rebound gains and poised to add another leg higher if we can get the headlines we're looking for.

The FOMC minutes will be interesting in that they will be from the meeting back in December when QE∞ was formalized. They'll be released later today so be sure to check ZH or some other news source for the stories.

For now, the metals are hanging around some moving average levels that need to be watched, particularly in silver. I've got the 200-day MA at 30.85 and, so far, that level has acted as support. Let's hope that it holds above there and begins to move higher after all of the news. The 20-day, 50-day and 100-day are all in the 31.50-32.50 area and that is where the next level of resistance will be found if the rally can extend higher.

Lastly, everyone needs to watch the 10-year and the Long Bond over the next few days. Both are sitting at critical support levels which, if broken, will lead to lower prices (higher rates). As you know, QE is all about providing buying support for the treasury market and, if the bond market begins to break down, it would be a sign that the current $85B/month isn't sufficient for this purpose. I have no doubt that the $85B/month level will need to be increased in 2013 given the current run rate of a $1.7T+ federal deficit. A falling bond market might make this happen sooner rather than later.

Have a great day. Tomorrow it's back to business as usual and there will be a full, new post sometime after the BLSBS at 8:30 EST.


About the Author

turd [at] tfmetalsreport [dot] com ()


Jan 3, 2013 - 12:11pm

Removed comment

Removed comment.

Jan 3, 2013 - 12:11pm


there's planes with "silver" written on them fyling around?

you forgot to mention the most important thing:


Jan 3, 2013 - 12:13pm

Bond Collapse

I wonder if they will be able to keep it alive this year..... Max Keiser is calling for a bond bubble burst.

Swift Boat Vet
Jan 3, 2013 - 12:13pm

Safe Trip Turd

Hope you all had a blast this time away. Safe trip buddy.


P.S. (Edit) Just realized I was turd! Never posted this early, and wasn't even trying.

Jan 3, 2013 - 12:16pm

I"m way to slow - -

Back to the drawing board.

Jan 3, 2013 - 12:17pm

happy counting

Just wondering if Turd is taking this trip to verify and count his

Safe travels!

Jan 3, 2013 - 12:33pm

a new year summary

Let me see....

1- Asia using the smackdowns (and creating them) to buy physical in serious tonnage and frankly anything else that is a store of value with all those trillions in US paper "assets" a rate that does not drive the price up too fast - check

2-Fed authorized to supply unlimited capitol to their "agent" or "agents" to defend the currency -(sorry "stabilize") - check

3-ECB authorized to buy unlimited bonds/paper/crap to defend the Euro - check

4-Japan moving to unlimited QE - check

5- Non-G7 nations buying physical with both fists (lets rephrase this... selling US paper for something real)

6- uncoupling of physical pricing from Crimex contracts - check

7-extremely tight physical market

8-trillions upon trillions sloshing around looking for a place to stay safe...not to mention all the new trillions being printed into infinity to keep the sheeple asleep and the politicians safe from tar and pitchforks while those markets are propped up to give the illusion of wealth preservation - check and double check

9-...popcorn - check

2013 should be quite the show ... BTFD

Jan 3, 2013 - 12:34pm

Turd's "No comment?"

I see that Turd did not respond to this crazy take-delivery-and-mint-silver-Turds idea. Hmmm.

I agree with others that the single contract will not hasten the fall of manipulation. Moreover, it is likely that this idea will be noticed and we would not be offered a cash settlement premium. But nothing would prevent us from forming a group that designs and mints silver Turd rounds, for those who are interested.

Jan 3, 2013 - 12:36pm

Have a safe flight!

i like their mission statement. could apply directly to silver and silver stackers

Mission Statement: The Silver Standard

Our Mission: To provide our customers with safe, reliable air transportation in an efficient and courteous manner.

Our Promise to our Team Members: We will devote the resources to support their efforts to make our mission a reality, secure our future and result in a fair return for our shareholders.

Our Guiding Principles:

  • We never compromise safety.
  • We treat everyone with respect.
  • We embrace multi-directional communication.
  • We acknowledge our fiscal responsibility within each decision we make.
  • We embrace the ability to question and challenge in a professional manner.
  • We are committed to the development of our Team Members and their success.
  • Teamwork is at the core of all we do.
  • We are honored to serve our customers every day.

Our mission defines the purpose and moral responsibilities of the Silver Airways team. In order to heighten our standard of excellence, we established a set of guiding principles for Team Members to reference in the everyday workplace as a reminder of the key values and concepts we represent. Our actions are a reflection of these principles and we strive to incorporate them into everything we do.

This is an exciting time for Silver Airways and our team. We are undergoing major growth providing a perfect opportunity for us to establish a strong rapport with our customers, and to introduce you to the increased capability, reliability and superior service that we represent. Every Team Member strives to do their part in upholding these principles and to help make our mission a reality.

Doctor J
Jan 3, 2013 - 12:36pm

You're gonna have to fill me in, Doc

I haven't been monitoring the site very closely for the past week or so.

Key Economic Events Week of 11/11

11/12 Three Fed Goon speeches
11/13 8:30 ET CPI
11/13 11:00 ET CGP on Capitol Hill
11/14 8:30 ET PPI
11/14 Four Fed Goon speeches
11/14 10:00 ET CGP on Capitol Hill
11/15 8:30 ET Retail Sales
11/15 8:30 ET Empire State Manu Index
11/15 9:15 ET Cap Ute and Ind Prod
11/15 10:00 ET Business Inventories

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Key Economic Events Week of 11/11

11/12 Three Fed Goon speeches
11/13 8:30 ET CPI
11/13 11:00 ET CGP on Capitol Hill
11/14 8:30 ET PPI
11/14 Four Fed Goon speeches
11/14 10:00 ET CGP on Capitol Hill
11/15 8:30 ET Retail Sales
11/15 8:30 ET Empire State Manu Index
11/15 9:15 ET Cap Ute and Ind Prod
11/15 10:00 ET Business Inventories

Key Economic Events Week of 11/4

11/4 10:00 ET Factory Orders
11/5 9:45 ET Markit Services PMI
11/5 10:00 ET ISM Services PMI
11/6 8:30 ET Productivity & Labor Costs
11/6 Speeches by Goons Williams, Harker and Evans
11/8 10:00 ET Consumer Sentiment
11/8 10:00 ET Wholesale Inventories

Key Economic Events Week of 10/28

10/30 8:30 ET Q3 GDP first guess
10/30 2:00 ET FOMC fedlines
10/30 2:30 ET CGP presser
10/31 8:30 ET Personal Income & Spending
10/31 8:30 ET Core Inflation
10/31 9:45 ET Chicago PMI
11/1 8:30 ET BLSBS
11/1 9:45 ET Markit Manu PMI
1/1 10:00 ET ISM Manu PMI

Key Economic Events Week of 10/21

10/22 10:00 ET Existing home sales
10/24 8:30 ET Durable Goods
10/24 9:45 ET Markit flash PMIs
10/24 10:00 ET New home sales
10/25 10:00 ET Consumer Sentiment

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.

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