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

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  548 Comments

hammerman
Feb 20, 2013 - 11:10am

great call turd...

on cutting da mini vacation short.... this is the last time you will see $1520 to $1550... buy with both hands... borrow where and what you can.... this is the buy of a lifetime here and now...... in my true kramer voice BUY BUY BUY !

indosil
Feb 20, 2013 - 11:11am

CRUDE

wow..Crude just dropped through a sink hole!!!!!!!!!!1

¤
Feb 20, 2013 - 11:12am

Sequestration

I agree with all of you on the BS/MOPE factor but thats our point of view in here and how we see it for what it really is. The headlines and sound bites say otherwise to the vast majority of people who are not tuned in like we are in here.

This is no different then the Fiscal Cliff drama that played out which is now old news. And what about that debt ceiling breach? All forgotten.

Those things have all been temporarily shelved and almost forgotten about. So eventhough many things are illusory and nothing more then MOPE we have seen many times recently that effectiveness or fiscal reality matters much regarding real budget numbers.

It's the MOPE that counts and at this point there is some selling momentum in play regardless if that upcoming sequestration seems efficient or is an actual spending cut or not.

Twilight Zone stuff.

Groaner
Feb 20, 2013 - 11:12am
erewenguy
Feb 20, 2013 - 11:12am

Today is puke day

Today is puke day. Better get some while its here. Looks like equities may be sold off and rotated into treasuries. The Fed has so many of them it would help to increase the buyers. PMs will benefit from an equity sell off.

NonoverlappingMagicCerealHarald
Feb 20, 2013 - 11:13am

You are most welcome

It's 11 minutes now, if that helps.

ClinkinKY
Feb 20, 2013 - 11:15am
AlienEyes
Feb 20, 2013 - 11:16am

poetic license employed

Woe is me and woe is you.

They d0ne picked us to

do it to.

Metals are down and the dollar is up. There’s a turd* in the punch bowl and there’s some in my cup. I blame the banksters and the socialists, too. As it looks right now, we all have been screwed. The justice department is as blind as a bat. I don’t know about you, but I smell a rat. (Not Our Turd)
GroanerClinkinKY
Feb 20, 2013 - 11:16am

Clink

Hot fresh lunch being delivered to Blythe and jamie

ACAD
Feb 20, 2013 - 11:20am

@redrover1

Re. turd being wrong 100% of the time, tell us who has been right 100% of the time? Have you been trading this market perfectly? Where do you get your advice? Why not start a site yourself that is a bizzaro TFMR site...if you're always right you'd probably get everyone from this site as your followers. Just a thought...

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