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 - 12:17pm

Another data point.

But then, a bowl of hot chow mein, can warm the tummie on a cold day like today.

if you look at the bowl formation, of the handle, to the 31 year silver cup,

a symmetrically down draft would be TODAY at 28.50, for the data point on the bowl lower bound.

DRAW THE LINE IN THE SAND, silver bulls, right here, right now!!

Feb 20, 2013 - 12:17pm

Gold and Silver COMEX expiration dates:

Gold and Silver COMEX expiration dates:

Feb 20, 2013 - 12:18pm

I have Inspector Clouseau investigating

the corruption in the metals markets, not to worry, but first he has a massage..

Do you have for me the 'massage'?
musicmaker99 ForWhomTheTollBuilds
Feb 20, 2013 - 12:19pm

Don't forget - March is a delivery month

Sorry, Comex registered is 38MM ozt.

Feb 20, 2013 - 12:21pm

My 2 cents...

I think a lot of the drop in price is people piling into stocks. People want to ride the wave to all time new highs... so they aren't touching gold or silver. I'm not a trader by any means but just something I've noticed a bit lately.

Feb 20, 2013 - 12:24pm


IVARS... one of the things that I know about a great deal is ENERGY. There has been this big effort to BAMBOOZLE the world and investors about the "WONDERS OF SHALE ENERGY." Because the United States holds a larger percentage of shale reserves compared to the rest of the world, there is this notion that the U.S. will become energy independent.

Thus, this would mean that we would import less oil and that could help our trade deficit as well as our USG debt situtation. Even though this sells subscriptions and allows investors to dump their hard earned money into these so-called ENERGY ASSETS... the great energy stock implosion is coming.

There is no LIGHT AT THE END OF THE TUNNEL for the USA as it pertains to energy. So, in that regard, the notion that the U.S. debt situation will improve from here... is COMPLETE BS.

The falling EROI is destroying SH*T everywhere -- basically it turns assets to liabities, and liabilites into huge problems.

The IQ's in the ANALYST community has sunken to all time lows.



Feb 20, 2013 - 12:26pm

Gold is hitting critical

Gold is hitting critical point today. It may move up next days if and longer if it does not fall throught this support.

However, there is nothing to indicate that that would mean an end to downtrend channel working since October. There are no gold positive news out those days, as Dr. G has pointed out many times. And that is quite opposite the situation that was there especially in autumn 2010, but also in summer 2012. There is instead, an uncertainty of what arsenal will the USA, financial capital and CBs deploy to stabilize the USG debt based monetary system- as that is the only system there is , and large creditors like China etc would much more happily continue building its power on a stable currency basis than call it quits prematurely, still much to weak to contest the military power of the West and giving up accumulated wealth measurable in trillions of USD.

Feb 20, 2013 - 12:28pm
Feb 20, 2013 - 12:31pm

its all paper selling

and if you think about it, how desperate is the condition of the entire system when metals, bonds and stocks get manipulated like this. We have no recovery. You have to be looney to buy stocks with high pe ratios when they are tellign us the economy is slowing and the only issue holding stocks up is printing-the same printing thats not helping PM.

my mothers keeper brad_pitts_betterlooking_brother
Feb 20, 2013 - 12:32pm

bizarre article

i don't know what the article means (shrugging shoulders)...

but when i read this:

Dr Jin said the world was moving to a “1+4” system, with the greenback serving as the anchor of global payments, supplemented by “four smaller reserve currencies” – the euro, sterling, yen and yuan.

“Compared with the euro area, the dollar zone has much greater resilience to shocks. The debt crisis in the euro area has demonstrated the structural weakness of this currency,” he wrote in a paper for the February bulletin of the Official Monetary and Financial Institutions Forum.

it reminded me of a movie i saw where an old woman, living in a shack in the forest, held a small goat on her lap. she stroked it's fur while speaking to it softly in a low voice as she cut its throat with a very sharp knife. it never felt a thing as it bled out. litf

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 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

Key Economic Events Week of 8/12

8/13 8:30 ET Consumer Price Index
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Labor Costs
8/14 8:30 ET Philly Fed
8/14 9:15 ET Ind Prod and Cap Ute
8/14 10:00 ET Business Inventories
8/15 8:30 ET Housing Starts & Bldg Permits

Key Economic Events Week of 8/5

8/5 9:45 ET Markit services PMI
8/5 10:00 ET ISM services PMI
8/6 10:00 ET Job Openings
8/8 10:00 ET Wholesale Inventories
8/9 8:30 ET Producer Price Index

Key Economic Events Week of 7/29

7/30 8:30 ET Personal Inc/Spending & Core Inflation
7/30 10:00 ET Consumer Confidence
7/31 8:15 ET ADP employment
7/31 2:00 pm ET FOMC Fedlines
7/31 2:30 pm ET CGP presser
8/1 9:45 ET Markit Manu PMI
8/1 10:00 ET ISM Manu PMI
8/2 8:30 ET BLSBS
8/2 10:00 ET Factory Orders

Key Economic Events Week of 7/22

7/23 10:00 ET Existing home sales
7/23 10:00 ET Richmond Fed Manu Idx
7/24 9:45 ET flash Markit PMIs
7/25 8:00 ET Count Draghi/ECB policy meeting
7/25 8:30 ET Durable Goods
7/25 8:30 ET Wholesale Inventories
7/26 8:30 ET Q2 GDP first guess

Key Economic Events Week of 7/15

7/15 8:30 ET Empire State Fed Index
7/16 8:30 ET Retail Sales and Import Price Index
7/16 9:15 ET Cap Ute and Ind Prod
7/16 10:00 ET Business Inventories
7/17 8:30 ET Housing Starts and Building Permits
7/18 8:30 ET Philly Fed
7/19 10:00 ET Consumer Sentiment

Recent Comments

by brolgaboy, 9 min 10 sec ago
by Island Teal, 15 min 40 sec ago
by AngryCitizen, 39 min 32 sec ago
by Wizdum, Sep 17, 2019 - 11:48pm
by happycamper515, Sep 17, 2019 - 11:42pm
by Alex777, Sep 17, 2019 - 11:36pm

Forum Discussion

by NW VIEW, Sep 17, 2019 - 10:39pm
by Boggs, Sep 17, 2019 - 10:26pm
by NW VIEW, Sep 17, 2019 - 7:06pm
by Green Lantern, Sep 17, 2019 - 5:47pm
by HappyNow, Sep 17, 2019 - 1:09pm