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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  548 Comments

Keg
Feb 20, 2013 - 10:57am

Sequestration = BS

There are no cuts in the sequestration. Only a reduction in planned increase in spending. And the amount is miniscule compared to the total the government spends. O'bummer is just trying to spin this to make Rs look bad. Since they do a good job on their own, I'm not sure why he wastes the effort.

Strongsidejedi ¤
Feb 20, 2013 - 11:02am

@DPH - red 5 standing by

@DPH - I'm thinking that same way. Scary that you and I were on that same thought at the exact same time.

I suppose that means the options chain pricing just worked against my position by $0.50 a contract. LOL

I'd rather not toss the fiat to CME. I am however, gassing up the car to drive to the biggest wholesaler in the area to talk shop. It's time for some LCS guys to put up the inventory or step aside.

The LCS guys are helping to limit the price divergence between paper and physical coins by limiting inventory on sale when the price declines like this. Those guys want to limit losses so they hold inventory when they should be selling inventory and repurchasing at the same price from the mint.

Of course, they are in line behind the wholesalers.

Go to the wholesalers and cut off the LCS guys today or tomorrow.

Then watch the silver price turn around next week.

LOL Anyone want to predict price on Sunday night?

I say $30 will be back.

indosil
Feb 20, 2013 - 11:02am

@KEG

Yes we all know it...but not the shitheads who sit like zombies in front of the Idiot Box spoonfed by MSM...besides the Cartel has achieved what they wanted to.Period.

NonoverlappingMagicCereal
Feb 20, 2013 - 11:03am

No matter what...

To all the folks who are in physical 'no matter how low it goes', those of you to whom every drop in price is obvious manipulation and an opportunity to 'BTFD':

You do know what that end game looks like if you happen to be wrong about all these theories, right?

Macroeconomics is very tough, perhaps impossible to predict. I know you guys see the bogeyman in all this stuff, but I hate to see so many people with their eggs in one basket.

Feb 20, 2013 - 11:03am

For TTM subscribers, I have

For TTM subscribers, I have recorded a brief podcast update, too.

Dr G Bobbejaan
Feb 20, 2013 - 11:03am

Fixed that statement here

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.

That's the exact same thing I said. Price is something measured by spot. Value is the worth.

redrover1
Feb 20, 2013 - 11:04am

WOW

I have been on/off this site for about 6 months now...I have NEVER seen anyone be SOOOOO wrong 100% of the time! I just don't understand the "TURD" following??? Please explain. I use this site as comedy at this point. Thanks!

ClinkinKY
Feb 20, 2013 - 11:06am

Just saying...

...if I didn't have to buy "luxuries" like food, gas, insurance etc I'd have more powder to buy the "necessities" like G/S.

And I'm being sincere.

Maximillion
Feb 20, 2013 - 11:08am

You'll never beat the paper crooks

Well put tmosely, plus they are likely to know exactly where the paper stops are so it's all just a paper profit harvesting game to them. Stick top the real stuff then the casino loses, then we win

Harald
Feb 20, 2013 - 11:10am

Welcome NonoverlappingMagicCereal

Member eight minutes. Thanks for your insight.

Was that gap number someone mention last night $28.60?

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