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

About the Author

Founder
turd [at] tfmetalsreport [dot] com ()

  548 Comments

Urban Roman
Feb 21, 2013 - 9:24am

Speaking of Brits

Denninger posted this the other day ... seems sort of British to me, but the message is universal.

this one:
https://www.youtube.com/watch?v=WSIUf2hD6Io

theiain1
Feb 21, 2013 - 9:32am
Byzantium
Feb 21, 2013 - 9:39am

nice chart

Nice chart theian1; lots of ways to interpret it, including the significance of the elipse, and whether it defines the support (or perhaps, not).

Orange
Feb 21, 2013 - 9:57am

Gold is just a tradition

Yes, Ben, a very old tradition. What's between your legs Benny? Oh I forgot Benny, you have nothing as the Fed has its own police force.

Treasure-Filled Warrior's Grave Found in Russia

Hidden in a necropolis situated high in the mountains of the Caucasus in Russia, researchers have discovered the grave of a male warrior laid to rest with gold jewelry, iron chain mail and numerous weapons, including a 36-inch (91 centimeters) iron sword set between his legs.

https://news.yahoo.com/treasure-filled-warriors-grave-found-russia-12295...

Orange
Feb 21, 2013 - 10:09am

Open Interest

Turdite Warriors! Get to the battle stations, the war has started!

The total silver comex open interest is the major focus of attention to our banker. The OI for silver advanced another 149 contracts despite the huge whacking of silver again yesterday. The new OI rests tonight at 155,353 compared to yesterday's level of 155,204. This is at a multi year high. This is a very unstable condition to have OI for silver at record levels and yet the price of silver to fall. Somebody must be right and somebody must be wrong . The front non active delivery month of February saw it's OI fall by 12 contracts from 74 down to 62. We had 65 delivery notices filed yesterday so we again gained 53 contracts or an additional 265,000 oz of silver will stand for metal.

https://pacificrimcoins.com/content/harvey-organs-gold-and-silver-report-83

¤
Feb 21, 2013 - 10:14am

new thread

Go there now

ballyale Urban Roman
Feb 21, 2013 - 11:10am
kuldeep.bansal730
Feb 21, 2013 - 1:09pm

That's me backing the truck

That's me backing the truck up to the loading dock.... I may have to call U-Haul to reserve another one if this one is not big enough. Bring it on Leroy, put it right there in the corner and go get another load....

Contribute

Donate Shop

Get Your Subscriber Benefits

Exclusive discount for silver purchases, and a private iTunes feed for TF Metals Report podcasts!

Key Economic Events Week of 3/25

3/26 8:30 ET Housing Starts (Feb)
3/27 8:30 ET Trade Deficit (Jan)
3/28 8:30 ET Q4 GDP final guess
3/28 10:00 ET Pending Home Sales (Feb)
3/29 8:30 ET Personal Income (Feb)
3/29 8:30 ET Consumer Spending and Core Infl. (Jan)
3/29 9:45 ET Chicago PMI
3/29 10:00 ET New Home Sales (Feb)

Key Economic Events Week of 3/18

3/19 10:00 ET Factory Orders (Jan)
3/20 2:00 ET FOMC Fedlines
3/20 2:30 ET CGP presser
3/21 8:30 ET Philly Fed
3/22 9:45 ET Markit PMIs
3/22 10:00 ET Existing Home Sales
3/22 10:00 ET Wholesale Inventories (Jan)

Key Economic Events Week of 3/11

3/11 8:30 ET Retail Sales (Jan)
3/11 10:00 ET Business Inventories (Dec)
3/12 8:30 ET CPI (Feb)
3/13 8:30 ET Durable Goods (Jan)
3/13 8:30 ET PPI (Feb)
3/14 8:30 ET Import Prices (Feb)
3/14 10:00 ET New Home Sales (Jan)
3/15 8:30 ET Empire State Manu Index
3/15 9:15 ET Cap. Util. & Ind. Prod.

Recent Comments

by -SilverIsMoney-, Mar 25, 2019 - 10:59pm
by Turd Ferguson, Mar 25, 2019 - 10:43pm
by Harley, Mar 25, 2019 - 10:40pm
by Trail Trekker, Mar 25, 2019 - 10:27pm
randomness