Just Some Charts

219
Mon, Apr 22, 2013 - 1:49pm

Because it's late and this is about all I can handle for today.

We had a little bit of a rally today but did you notice that gold was stopped in its tracks when:

  1. The Comex opened for trading and
  2. It had reached the all-important "2% cap". In fact, there was a clear movement afoot to close gold back under the 1% cap and they nearly made it.

So, now, here we are. Yes, it's always nice (and rare) to begin the week on an UP note. But don't be fooled...nothing much has been accomplished. I had expected/hoped that the drop out of the 19-month ranges would be nothing but a brief, stop-running exercise. Instead, the thing took on a life of its own last Monday and now we learn via the CoT that The Cartels didn't even cover. The LargeSpecs did. All of this infers that further weakness and volatility may be coming. Let's hope not but until prices get back into the 19-month ranges (above $1525-1550 and $26), we must remain vigilant.

And here is your homework assignment / thought experiment for the day. I want you to print off these three charts. Place the gold chart on top of the copper chart and hold it up to the light. Then, do the same with silver and copper. Having done that, let me ask you this:

Why are these charts nearly identical? Other than being elements on the periodic table, what do these metals have in common. If your list of commonalities is short, why do they trade as they do? And because they trade nearly in tandem, what does this say about the current method of price discovery?

OK, that's all. Gotta go. Have a great day!

TF

About the Author

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

  219 Comments

Mr. Fix
Apr 22, 2013 - 1:50pm
Karankawa
Apr 22, 2013 - 1:52pm
s1lverbullet
Apr 22, 2013 - 1:52pm

1st! Edit: not so much

Edit: Shit, should have posted that comment before I read the whole article. Haha!

achmachat
Apr 22, 2013 - 1:52pm

charts are back!

I would insert some nice silver and gold pictures here, but nothing has arrived yet.

tyberious
Apr 22, 2013 - 1:53pm

FIF

On Monday!

sengfarmer
Apr 22, 2013 - 1:58pm

top ten!!

yeeeehaaaa

s1lverbullet
Apr 22, 2013 - 1:58pm

Looking at the charts...

If copper has a repeat of 08, we are all in for some pain. Don't worry, on the physical market you will still be able to sell for a nice giant premium. Expect an even larger disconnect between the paper and phys markets.

dgstage
Apr 22, 2013 - 1:59pm

HEH

I guess it has been killed now?

Should I say officially since the news did not come out from the whistle blower.

pforth
Apr 22, 2013 - 2:01pm

But but but...

Turd... you said there is another whistleblower out there... "Dan in China". Now that the CBC doc has dropped the ball, it's up to people like you with large, interested followings on alterantive media to pick it up again. Don't give up... don't have low E, get Dan's story out there and let's hit them one more time!

The Watchman
Apr 22, 2013 - 2:03pm

E-Bay=Price Disconnect

$38.99+$1.99 Shipping-

2013 1 Oz Silver American Eagle $1 Coin

Time left:EndedToday 12:58PM $38.99 2 bids

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