Cutting Vacation Short

Wed, Feb 20, 2013 - 10:04am

This is relentless and unforgiving...and I'm not talking about MrsF.

So bad that I'm cutting my mini-vacation short. I still don't have time for a full post so here are two items for you to read this morning.

ZH has been doing an excellent job chronicling the consistent, daily destruction. Here's the latest:

And here's someone who has noticed some of the same "anomolies" that I have:

The charts, of course, look terrible. Having failed at hoped-for support, silver looks like $28 and gold, if $1580 fails, looks headed all the way back to the bottom of the 18-month range, near $1550.

This is all highly unusual and indicative of extreme manipulation and panic-level positioning. At the risk of sounding trite and reading like another KWN pumper, I must say it: THIS WILL PASS. THESE EXTREMES WILL BE RESOLVED SOON AND NEW UPLEGS WILL BEGIN. PLEASE BE PATIENT. THE FUNDAMENTALS ARE STRONGER THAN EVER AND PHYSICAL REALITIES WILL SOON REPLACE PAPER SHENANIGANS AS THE DRIVING FORCE BEHIND PRICE.

More later if possible.


About the Author

turd [at] tfmetalsreport [dot] com ()


Feb 20, 2013 - 10:16am


For those with the means to trade it, the GSR is offering opportunities, as silver is falling faster than gold.

We broke 55 today; I am getting ready to do a little conversion from gold to silver.

Feb 20, 2013 - 10:18am

The plunge

I would imagine that this is just a raid to farm sell stops. Once the booty is loaded, there might be a frenzy of short covering. We'll see.

Feb 20, 2013 - 10:22am

4 year trend gone

Now it could go anywhere. It appears Turd was completely wrong. Surely a paper phyzz divergence is to be avoided by the Fed?

Bobbejaan Dr G
Feb 20, 2013 - 10:22am

Quote:Dr. G said :- In other

Dr. G said :-

In other words, the PRICE of silver may drop, but that does not correlate to the VALUE of silver.

Fixed that statement here ....

In other words, the PRICE of PAPER silver may drop, but that does not correlate to the VALUE of REAL silver.

Feb 20, 2013 - 10:23am

I don't think this will pass

I don't think this will pass soon. No way. I'm still a long term bull but I don't see how we're going anywhere but down or sideways in PMs until we have a real crisis. I want very much for this to be the final puke where everyone who cant stand the pain sells...bullion, paper. Whatever. I dont care if gold goes down to $1100 as MA is warning. Lets fricken get on with it. I'll still be buying as much as possible. Actually, I like that we have more time to prepare - as painful as it is.

Feb 20, 2013 - 10:25am

Yippy; down down down!

Wow! With this type of action, something is going to break. Hoping this is the washout day. Trying to buy some July Silver 34 calls for 26 pennies each. Almost there!

Feb 20, 2013 - 10:25am

almost at that load the boat moment...

hey, why not?! of course, it could be the baily's in my coffee spurring me on...

I don't see what is to be gained here, unless some of the shorts get covered. Otherwise, are they TRYING to break the PM market?

Feb 20, 2013 - 10:27am

this has to be one of the

this has to be one of the most bizarre articles in a field of bizarre articles.

Feb 20, 2013 - 10:29am

need a catalyst

Just too damn easy. Buy market, short PMs.

Until the market going up (hopium) fades, PMs get killed.

Seriously oversold .. and getting more so. Fed minutes may do the trick.

Interestingly SPY and GLD are now at the exact same level for the first time in bloody ages.

But for now good data, rising markets spells "no worries", no need for PMs. As phony as it all is.

Feb 20, 2013 - 10:33am

Not desperate, just in total control of price

It's their platform. The bankers can do whatever they please. Enjoy your paper games suckers! Serves any of you right for trading paper. I'll keep reminding you from time to time as silver gets stuck at 27.50 for months on end. Looking foreword to my nice Turd hat:)

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