Cutting Vacation Short

548
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: https://www.zerohedge.com/news/2013-02-20/precious-metals-morning-slam-right-schedule

And here's someone who has noticed some of the same "anomolies" that I have: https://www.zerohedge.com/contributed/2013-02-20/curious-case-falling-gold-and-silver-prices

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.

TF

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FleetFeet
Feb 20, 2013 - 7:31pm

Is this correct?

Here's a note I copied a month or two ago and left on my desktop. No one seems to be mentioning this particular event. Is it correct?

***

Expect PM's to be smashed Wed, Thurs. Fri., FEB 20, 21, & 22. Because . . . .

Monday, Feb 25 is when the Mar 13 silver options expire.

Ilya Repin
Feb 20, 2013 - 7:31pm

one more thingdo you think

one more thing

do you think its a coincidence that Metals are printing reversal candles at the same time as stocks?

¤
Feb 20, 2013 - 7:30pm

Mind Over Money

Video unavailable

In the aftermath of the worst financial crisis since the Great Depression, NOVA presents "Mind Over Money"—an entertaining and penetrating exploration of why mainstream economists failed to predict the crash of 2008 and why we so often make irrational financial decisions. The program reveals how our emotions interfere with our decision-making and explores controversial new arguments about the world of finance. In the face of the recent crash, can a new science that aims to incorporate human psychology into finance—behavioral economics—help us make better financial decisions?

Bollocks
Feb 20, 2013 - 7:28pm

@El Gordo

"I've already made over $2 on today's purchase alone"

Jesus fucking christ! That has blown my brains out. 2 dollars? You're kidding me, right?

Fuck. I'm missing out. I can't handle it any more.



Occasnltrvlr
Feb 20, 2013 - 7:17pm

@Stock_Canines, re: "One Day"

Sure, I can give you a potentially compelling reason for PM's to rise notably within the next 6-12 months without using the word "collapse".

It will happen very shortly after the world's largest trading economy and the world's largest oil producer begin conducting trade using 1-kg-gold-bar-backed trade notes.

Bollocks
Feb 20, 2013 - 7:16pm

Attention you blythe-type manipulating scum-bag...

I don't want to talk to you no more, you empty headed animal food-trough wiper. I fart in your general direction.



Umm, damn nice smackdown though.

I'm hoping for a leetel-beeet more tomorrow, before I buy .

Beastly Stack
Feb 20, 2013 - 7:14pm
rtabit
Feb 20, 2013 - 7:11pm

Miners

Some miners hitting possible long term support, watch smaller timeframe charts to confirm, obviously no smaller timeframes are currently looking bullish.

SLW Weekly: Close enough for me to consider a touch, but 31.75 would be more precise.

https://www.screencast.com/users/RandyTabit/folders/SLW/media/0a72f1b4-6...

NEM Monthly: 39.90 would be more precise.

https://www.screencast.com/users/RandyTabit/folders/NEM/media/3b84186f-1...

AUY Monthly: Personal favorite. 13.95 would be more precise.

https://www.screencast.com/users/RandyTabit/folders/AUY/media/0cb478bc-4...

RGLD Monthly: Support around 62.40 or 60.00 area.

https://www.screencast.com/users/RandyTabit/folders/RGLD/media/04d21a30-...

Marblesonac
Feb 20, 2013 - 7:11pm

With the PSLV

NAV so low, it might just push Sprott to do a follow on underwriting.

Wouldn't that screw up the EE!

maravich44ancientmoney
Feb 20, 2013 - 7:09pm

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