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 - 10:34am

I am starting to agree with

I am starting to agree with the fact that paper gold/silver is in BIG trouble, and will not trade normal moving forward.

Even Jim Willie said the paper price and the physical price are going to disconnect, and I think it was already started, the paper price may be done.

TBTB are going to destroy the paper prices for the next few years, and then may go about a currency "reset" at some point, until then there is not likely going to be any rallies or new highs.

Amazing, the physical demand for investment silver is weak enough that they can get away with it. Not enough investors take physical possession of silver.

Also, Rick Rule on CNBS at 12.

Feb 20, 2013 - 10:40am

wednesday bottom?

must have been that gold audit ...

El Gordo
Feb 20, 2013 - 10:40am

Hear that beep, beep, beep?

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.

Feb 20, 2013 - 10:41am

This is horrific

If it doesn't turn around on the beige book, I'm selling a lot of miners.

Urban Roman
Feb 20, 2013 - 10:41am

Like I was saying yesterday, Turd,

Those of us who are not rending our bodices, are not writing in to complain. Some of us are on the way to a LCS instead.

Shiny things:

Feb 20, 2013 - 10:41am

@DPH - Sequestration

For several days I was eating up that "sequestration" = "huge impact cuts" story.

It's bunk.

The sequestration is rather insignificant because the deficit is so large.

More importantly, the lay offs and immediate impact are due to the cabinet level officers reacting.

The healthcare impact of the sequestration is real. But, the impact is not due to the lack of money velocity. The impact IS due to the fear in the c-level offices. The c-level guys don't want to look like chumps in the next quarter. That's why the cuts in the jobs are occurring now.

Northern Border
Feb 20, 2013 - 10:43am

Sub 29 ?????

This is a gift. Use it to your advantage.

"Back up the truck, load the boat, BTFD, all in"

Whatever floats your boat, just BUY MORE METAL TODAY.

Use this weakness to add to your physical position.

Oh Yeah, and everything else that is not nailed to the floor.


Feb 20, 2013 - 10:43am


I'm sure it's not just PM's that are under the influence of the banking cartel, so are stock and bond markets, inter-country relationships and ultimately war. It would not surprise me in the slightest to see the stock market peak at the same time as PM's bottom at the same time as a major geo-political event causes a rush into the bond market. All in the name of saving the petro-dollar and the wealth of those who benefit most from it's existence....

Feb 20, 2013 - 10:43am

@DPH Good Point

What we see and know to be MOPE, To Sheeple it is the truth and they will move their money according to what they believe the truth to be. This is a big enough MOPE to have real impact for awhile.

My Philosophy is very firmly rooted in BTFD, no matter how deep the dip gets


Feb 20, 2013 - 10:43am

GC / ES Spread

At new highs - was at -395 in October, now at -55. What a run. Long 2 ES / short 1 GC would give you a return on the spread of $34,000.

PL / GC spread was at -225 in August, and back to -185 to -200 in November. Now it's at +60, has been as high as 89. That's a $30,000 per spread run (long 2 PL, short 1 GC).

Another great spread is the long AUD / short CAD. In October the Marches were at -180. Now we're up near +500, a $6000+ move.

1580 the low today? Or will they take it all the way to S3 at 1570? Yesterday's low was at 11:15 AM, still have an hour and a half to go.

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