Thu, Feb 14, 2013 - 12:56pm

My new printer is finally online and the pits close in about an hour. I'd better type fast.

I'm hoping that today's action is the final washout I mentioned yesterday. I did get filled on the July silver $35 call that I'd been hoping to buy. We'll see what happens next but, either way and with 4+ months on my back pocket, I feel pretty good about it regardless of what happens over the next few days. I see that several other folks, including Santa, are expecting something BIG in March. Maybe they'll be right. I certainly hope so. In the meantime, I'm patiently waiting for Ides+7, though I hope for a reversal and another shot at The Big Test before then.

Not helping things are the generally cautious-looking charts below. If all three (crude, copper and platinum) roll over and begin to trend downward, it certainly isn't going to help the cause of the metals in the short term. Obviously, if attempting to trade, you'd better be keeping and eye on them.

Next, in a sickening example of the manipulated and MOPEd sham the markets have become, read what I wrote on 2/1, as I was hurrying out the door to head to Vegas:

"Speaking of fiat debasement, the situation in The Pig is getting rather tenuous. The Bernank had better send out a Goon or two to talk it up soon or it risks failing at 79 and then 78. IF/WHEN this happens, look out below for a retest of the all-important 73 level. You can plainly see it here on this daily chart. Open your mind and you'll see a year-long, head-and-shoulder top. Therefore, a breakdown here would indeed be a big deal."

So, of course, what has happened in the two weeks since? Exactly that! And not only do we get one or two Fed Goons per day talking up the dollar, we also had Goldman's man in Europe talking down the euro and the G-7 talking up the yen. What a perfect storm of MOPE! Sickening.

So, now can they pull the same trick to rescue the 10-year note? Fckn-A right, they can! Just watch...

So where does this all leave is in the metals? In the crapper, of course! Let's see...In the 5 months since the announcement of QE∞ back in September, gold has fallen from $1780 to $1640. That's a drop of 7.9%. Yep, that makes a lot of sense! Even worse, silver has fallen from $35 to $30.50. That's -12.8%!! While The POSX has been defended at 79 four times! And the S&P500 is up 5%!! What a deal and a magnificent victory for central planning, control and manipulation!

Here, this is even worse: $85,000,000,000 per month in money printing confirmed in early December of last year. Since then, gold has fallen from $1725 to $1640 (-4.9%) and silver has fallen from $32.20 to $30.50 (-5.3%). And since this money began flooding the world in January, both metals are now unchanged. $120,000,000,000 new dollars created from nothing over the past 6 weeks and....nothing. No change at all in the price in gold and silver. But the S&P500 is up nearly 100 point since the first of year. Remarkable.

So, anyway, here are your charts:

I had a number of other things that I wanted to write about today but, after those last two paragraphs, I'm so depressed that I'm just going to quit, instead.

See you tomorrow.


About the Author

turd [at] tfmetalsreport [dot] com ()


Feb 14, 2013 - 12:58pm



Feb 14, 2013 - 12:58pm

First Ammendment

Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances.

Feb 14, 2013 - 12:59pm

Maybe turd? G.

Maybe turd?


Feb 14, 2013 - 1:00pm

Bath day

Why does TA always seem to work only on the way down?

Feb 14, 2013 - 1:00pm

Trying to washout my patience?

i'm gonna stay on this road until we run out of road

Feb 14, 2013 - 1:01pm

Happy Valentines Day

Happy Valentines Day, fellow Turdites!

Feb 14, 2013 - 1:03pm

Well that cheered me up...

... I feel like selling my phys and buying a bunch of silver shorts. But I won't. Probably.

But I will have a stiff drink

Big L
Feb 14, 2013 - 1:04pm

Happy Valentines to all

Happy Valentines to ALL! And Especially Turd and family.

Feb 14, 2013 - 1:05pm

Oops. Almost forgot...

ValDay. Here's something melancholy to fit the mood. The Killers cover Dire Straits.

The killers - Romeo And Juliet (Live from Abbey Road)
Feb 14, 2013 - 1:10pm

Hello Turd

Hello Turd,

In April it will be a year since Ned announced the coming NASE.

Can we get an update?

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

Subscribe or login to read all comments.


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 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.

Key Economic Events Week of 9/3

9/3 9:45 ET Markit Manu PMI
9/3 10:00 ET ISM Manu PMI
9/3 10:00 ET Construction Spending
9/4 8:30 ET Foreign Trade Deficit
9/5 9:45 ET Markit Svc PMI
9/5 10:00 ET ISM Svc PMI
9/5 10:00 ET Factory Orders
9/6 8:30 ET BLSBS

Key Economic Events Week of 8/26

8/26 8:30 ET Durable Goods
8/27 9:00 ET Case-Shiller Home Price Idx
8/27 10:00 ET Consumer Confidence
8/29 8:30 ET Q2 GDP 2nd guess
8/29 8:30 ET Advance Trade in Goods
8/30 8:30 ET Pers. Inc. and Cons. Spend.
8/30 8:30 ET Core Inflation
8/30 9:45 ET Chicago PMI

Key Economic Events Week of 8/19

8/21 10:00 ET Existing home sales
8/21 2:00 ET July FOMC minutes
8/22 9:45 ET Markit Manu and Svc PMIs
8/22 Jackson Holedown begins
8/23 10:00 ET Chief Goon Powell speaks

Recent Comments

Forum Discussion

by sierra skier, 6 hours 6 min ago
by NW VIEW, 6 hours 8 min ago
by Trail Trekker, 7 hours 28 min ago
by Scarecrow, 11 hours 31 min ago