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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robov
Feb 21, 2013 - 12:28am

Another 20.7 tons of GLD

disappears today. Where is all this gold going?

On another note I got to thinking tonight that supposedly less than 1% are invested in PM's. Given all the chatter about drying up supply wouldn't it is any surprise that the Fed and government through the bought and paid for MSM has stepped up their almost daily MOPE and spin which then gives the banksters the opportunity to continue to daily crush the non backed naked paper market thereby creating the perception that gold, silver and the miners is not the place to be. One of the most frustrating things right now is the unbelievable amount of downright lies and deception coming out of the mouths of the Fed and other government spinmasters (MSM)

There is no truth. There is only perception.
Gustave Flaubert

That is clearly the case right now.
Texas Sandmanproton777
Feb 21, 2013 - 12:27am

Proton

Haven't you read my past posts. I've been absolutely consistent in my opinion regarding silver for the past 2 weeks. I have given you evidence in the form of the chart above showing that $27 is VERY possible.

That you can come out with such an idiotic statement as "price X is not possible" shows you have the market maturity of a 2 year old. And that's all I have to say on the matter.

IDIOT!!!!

Feb 21, 2013 - 12:26am

fwiw

I have arrived home and, after getting some rest, will attempt to make some sense of this madness in the morning.

And this was linked above. If you haven't read it yet, you should. Very well written.

https://www.zerohedge.com/news/2013-02-20/strange-case-golds-regular-morning-mugging

proton777Texas Sandman
Feb 21, 2013 - 12:23am

Texas...

Haven't you read all the posts here?! 27 is not possible. TROLL!

Texas SandmanEl Gordo
Feb 21, 2013 - 12:17am

$27 by first notice sounds right

Draw the trendlines. Look at the bottom of the channel.

I think this was my specific target I mentioned around the time my longer term model turned bearish (established downward trend in the MACD shown --- vertical red bar).

Exogen200ForWhomTheTollBuilds
Feb 21, 2013 - 12:16am

forwhomthetollbuilds

thanks

have one for silver? also his proprietary videos??

TomMack
Feb 21, 2013 - 12:13am

Puck dump it

then what...hard assets? more gold and silver? just curious.... i generally like his vids but he seemed a little more panicky and didn't really say what to do with the fiat from the sale.

Mickey
Feb 21, 2013 - 12:01am

earlier a post was made abt the Fed stopping QE in march

earlier a post was made abt the Fed stopping QE in march.

It is certainly possible. However, the fallout from that decision would be a disaster across the board with gold and silver action likely being buried on page 47.

nathan1234silver66
Feb 20, 2013 - 11:59pm

Reply to Wash Rinse Repeat

Today the US States again have huge debts of their own. Which is not part of the Federal debt.

While the US had people/immigrants from all over adopting a new country at that time , Europe has a history. The Iron Curtain exploded because in the final analysis the human's thought process and requirement for freedom can never be suppressed. No man will wish to undertake the financial burden of another as they need to fend for themselves.

IMHO this can never work in Europe.

El Gordo
Feb 20, 2013 - 11:50pm

Burning dry powder

I pulled the trigger today and burned a little dry powder thinking (like the flea with an erection shouting to raise the drawbridge) that would reverse the down trend or at least lower the average cost of my stack. Having apparently failed at reversing the down trend, I'm now regrouping, reassessing, and reloading with an eye toward establishing a new trigger price. I'm thinking in the range of $27.50 or less. Any comments?

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