Pre Fedlines Open Thread

267
Wed, Sep 18, 2013 - 10:24am

Only about 3.5 hours to go before all the fun starts. Here's a thread to get you ready.

Just two charts so that we're all on the same page. Again, once we broke down last week and then closed below $1320, it became clear that a minimum downside was somewhere near $1270. Might we see that later today? I hope not but it's certainly NOT out of the question.

The main item of interest, though, is the obvious attempt to hammer price last evening. When this type of move is employed by The Forces of Darkness ahead of the news event, it's almost always a fakeout. Why? Because the bullion banks, as agents of the central banks, likely already know the outcome. By crashing price, they are attempting to draw in as many fresh Spec shorts as possible, into which they cover and BUY. We saw this identical pattern back on 9/5, the day before the latest BLSBS release. We'll see how it turns out this time but, I must tell you, last night's action makes me quite optimistic about the ultimate outcome of today's craziness.

One more thing...For subscribers, this weeks Access2Access event has been scheduled. It will be a webinar with Andy Hoffman of Miles Franklin. Just like last week, participants will be able to submit the questions and Andy will answer them live during the presentation. If you want to be a part of it, you can register by clicking here: https://attendee.gotowebinar.com/register/6634276493783303426

Have a fun day!

TF

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  267 Comments

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Motley Fool
Sep 19, 2013 - 8:28am

Mudbone

I am not buying it either, just saying that makes it more plausible. :P

John Galt
Sep 19, 2013 - 8:27am

Interesting Price Action Yesterday

If the late afternoon "explosion" was an 11, is a sideways consolidation a 5?

MUDboneMotley Fool
Sep 19, 2013 - 8:16am

Motley, that would still mean

Motley, that would still mean that is a high grade 8.8 BILLION ounce deposit!!!!!

Not a chance!!

Gold Dog
Sep 19, 2013 - 8:01am

Cowffee Tawk

Does anyone else get the feeling that Haze is really a group of researchers sitting around a table. Haze, your output is just incredible! I always love the movies----Thanks!

- Where are BillHilly and Dead? <---I know Dead and will ring him up for a brew.

- I think that I want a Chinese silver Tael to put on my shelf....will have to check out some rare coin guys.

- My bunion says that they can keep the charade going longer than we suspect. I am glad as it gives me time to move stuff around at my pace. My friend Dave says that prime farmland has come down in price a little. He knows things that most of us don't.

- My other bunion says that we MAY get deflation first. For selfish reasons that would be my best order of events.

- Bag of Gold, your artwork always brings a smile to my face, I know it's time consuming but please keep it up!

- I was woken up by thunder this morning, that's a fun thing.

I am getting a little verklempt, let me give you a topic to discuss among yourselves.........

WTF is going on with Japan's turn on the money hose? Are they getting inflation yet? I know that they are buying the hell out of US Treasuries.

Your friend,

Dog

EDIT- Now that the Peoples Republic of Illinois is going to allow concealed carry I am looking at the Glock 26....any input? I would get the extended mags, I have pretty big hands.

Motley Fool
Sep 19, 2013 - 2:30am

mudbone

Assuming the story is not complete fabrication then there is at the very least journalistic error present. The 10 million tonnes of gold bearing ore sounds a little on the low side to me(perhaps SRSRocco could give an indication of gold bearing ore sizes for gold mines around the world). Now if that were 10 billion tonnes, then it gives a yield of 25g/tonne which is at least believable.

Robski
Sep 19, 2013 - 1:55am

@ DPH

Thx for posting the BBC Invisible worlds link. I happen to work in the semiconductor industry and get to play on electron microscopes on a daily basis. Being able to describe to other people what I do (and at what scale of dimensions, ie < 1 nanometer) is rather difficult. This video is very good at giving a layman an idea of this. I also find that to understand really big numbers, such as billions/trillions, one also need to understand really small numbers.

Robski

Key Economic Events Week of 7/6

7/6 9:45 ET Markit Service PMI
7/6 10:00 ET ISM Service PMI
7/7 10:00 ET Job openings
7/9 8:30 ET Initial jobless claims
7/9 10:00 ET Wholesale inventories
7/10 8:30 ET PPI for June

Patrancus
Sep 19, 2013 - 12:08am
Patrancus
Sep 19, 2013 - 12:05am

Words mean things

They introduced this term taper awhile back and look at the effect on the markets, blood in the streets, they got the slam down they were looking for and then some, keep stacking whenever an opportunity presents itself.

Patrancus
Sep 18, 2013 - 11:58pm

Goob does all of that

and a whole lot more

Watcher
Sep 18, 2013 - 11:40pm

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Key Economic Events Week of 7/6

7/6 9:45 ET Markit Service PMI
7/6 10:00 ET ISM Service PMI
7/7 10:00 ET Job openings
7/9 8:30 ET Initial jobless claims
7/9 10:00 ET Wholesale inventories
7/10 8:30 ET PPI for June

Key Economic Events Week of 6/29

6/30 9:00 ET Case-Shiller home prices
6/30 9:45 ET Chicago PMI
6/30 10:00 ET Consumer Confidence
6/30 12:30 ET CGP and SSHW to Capitol Hill
7/1 8:15 ET ADP Employment
7/1 9:45 ET Markit Manu PMI
7/1 10:00 ET ISM Manu PMI
7/1 2:00 ET June FOMC minutes
7/2 8:30 ET BLSBS
7/2 10:00 ET Factory Orders

Key Economic Events Week of 6/22

6/22 8:30 ET Chicago Fed
6/22 10:00 ET Existing home sales
6/23 9:45 ET Markit flash PMIs for June
6/23 10:00 ET New home sales
6/25 8:30 ET Q1 GDP final guess
6/25 8:30 ET Durable Goods
6/26 8:30 ET Pers Inc and Spending
6/26 8:30 ET Core inflation

Key Economic Events Week of 6/15

6/16 8:30 ET Retail Sales
6/16 8:30 ET Cap Ute and Ind Prod
6/16 10:00 ET Chief Goon Powell US Senate
6/16 4:00 pm ET Goon Chlamydia speech
6/17 8:30 ET Housing Starts
6/17 12:00 ET Chief Goon Powell US House
6/18 8:30 ET Initial Jobless Claims
6/18 8:30 ET Philly Fed
6/19 8:30 ET Current Account Deficit
6/19 1:00 pm ET CGP and Mester conference

Key Economic Events Week of 6/8

6/9 10:00 ET Job openings
6/9 10:00 ET Wholesale inventories
6/10 8:30 ET CPI for May
6/10 2:00 ET FOMC Fedlines
6/10 2:30 ET CGP presser
6/11 8:30 ET Initial jobless claims
6/11 8:30 ET PPI for May
6/12 8:30 ET Import price index
6/12 10:00 ET Consumer sentiment

Key Economic Events Week of 5/25

5/26 8:30 ET Chicago Fed
5/26 10:00 ET Consumer Confidence
5/27 2:00 ET Fed Beige Book
5/28 8:30 ET Q2 GDP 2nd guess
5/28 8:30 ET Durable Goods
5/29 8:30 ET Pers Inc and Cons Spend
5/29 8:30 ET Core Inflation
5/29 9:45 ET Chicago PMI

Key Economic Events Week of 5/18

5/18 2:00 ET Goon Bostic speech
5/19 8:30 ET Housing starts
5/19 10:00 ET CGP and Mnuchin US Senate
5/20 10:00 ET Goon Bullard speech
5/20 2:00 ET April FOMC minutes
5/21 8:30 ET Philly Fed
5/21 9:45 ET Markit flash PMIs for May
5/21 10:00 ET Goon Williams speech
5/21 1:00 ET Goon Chlamydia speech
5/21 2:30 ET Chief Goon Powell speech

Key Economic Events Week of 5/11

5/11 12:00 ET Goon Bostic speech
5/11 12:30 ET Goon Evans speech
5/12 8:30 ET CPI
5/12 9:00 ET Goon Kashnkari speech
5/12 10:00 ET Goon Quarles speech
5/12 10:00 ET Goon Harker speech
5/12 5:00 ET Goon Mester speech
5/13 8:30 ET PPI
5/13 9:00 ET Chief Goon Powell speech
5/14 8:30 ET Initial jobless claims and import prices
5/14 1:00 ET Another Goon Kashnkari speech
5/14 6:00 ET Goon Kaplan speech
5/15 8:30 ET Retail Sales and Empire State index
5/15 9:15 ET Cap Ute and Ind Prod
5/15 10:00 ET Business Inventories

Key Economic Events Week of 5/4

5/4 10:00 ET Factory Orders
5/5 8:30 ET US Trade Deficit
5/5 9:45 ET Markit Service PMI
5/5 10:00 ET ISM Sevrice PMI
5/6 8:15 ET ADP jobs report
5/7 8:30 ET Productivity
5/8 8:30 ET BLSBS
5/8 10:00 ET Wholesale Inventories

Key Economic Events Week of 4/27

4/28 8:30 ET Advance trade in goods
4/28 9:00 ET Case-Shiller home prices
4/29 8:30 ET Q1 GDP first guess
4/29 2:00 ET FOMC Fedlines
4/29 2:30 ET CGP presser
4/30 8:30 ET Pers Inc and Cons Spend
4/30 9:45 ET Chicago PMI
5/1 9:45 ET Markit Manu PMI
5/1 10:00 ET ISM Manu PMI

Forum Discussion

by TexasTonto, 2 hours 32 sec ago
by ja1920voo, 7 hours 41 min ago
by tork311, Jul 10, 2020 - 3:17pm
randomness