Pre Fedlines Open Thread

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:

Have a fun day!


About the Author

turd [at] tfmetalsreport [dot] com ()


The Doc
Sep 18, 2013 - 6:02pm

Nice call today TF. I had

Nice call today TF. I had previously thought the Fed was likely to announce a small taper in order to save some sort of face, but this morning's price action made me also believe they were about to surprise with a no-taper.
Thankfully we pulled the trigger on an inventory reorder for SDBullion at 21.30 this am. :)
Globex opening now, Asia shortly, will be interesting to see if shorts are continued to be pressed.


Gold Dog
Sep 18, 2013 - 5:54pm

I R on..

...a reducing diet. Too much summer and brew and BBQ and steaks and scotchie and burgers and big breakfasts at a couple of great restaurants and deserts and did I mention brew?

Long hikes and that friggin BoFlex torture device in the basement for this poor soul, AND, I have been having to go to work too!

Pray for me, oh the humanity!

BUT- I think I will retire soon, I have trained them up well and my understudy is doing a great job so maybe I can do something else for a bit. Tool library? Put some Vets to work on Dog's Gulch and get the kinks worked out? Feed the hungry?

NOTE- I gave a small amount to Food for the Poor today. They have plenty of chow right now but need to get it to the hungry peeps. $1.00 donated is enough to get, I think, over $9.00 worth of food transported.

EVERYBODY HAS A FEW BUCKS ! Go here and make a gift and the Heavens will smile on you plus good karma, plus you will feel free,plus it's one of Turd's favorites, plus you can prove to yourself that you are not owned by that 10 or 50 bucks!!!!

The nice lady I talked to said that some amazing amount goes to the needy....95% or something.

Your friend,

Bossy Dog

Sep 18, 2013 - 5:54pm

One certainty

No taper sends a signal to USBonzi sovereign holders there's no end to devaluing the USDinker dollar. Taper and foreigners knew the easy money was over and bond buying going bye bye. Now they,(MAINLY BRICS), know devaluation of the dollar never ceases as it's print to infinity. First one out of the debt market wins. 10yr zonked down to 2.69 but lets give it time for some real market sense when the too big to jail banksters, dead head fed, and plunge protection team weren't hft alogo'd to max effect for goon speak; benron yak attack to public. Rigged game today but sovereigns may now dump in earnest to get away from the yanky noodling USDinker dollar. It may go into free fall. What better way to devalue your currency, pay off stratospheric debt with cheaper dollars, and wait in the wings for and fdr sudden overnight additional 30% devaluation in October. Some are saying it's out there? Jim Willie mentions 30% dollar devaluation. What a surprise the feds gave the market today. Why not another soon. Real soon before rolling over all the debt into the new fiscal year, with no budget; neither decision on debt ceiling raised to infinity. Keep those surprises coming before the general public has time to react and go to local bullion coin dealer. CAN'T HAVE THE PUBLIC DUMPING USDINKER DOLLARS BEFORE THE FEDS CAN TRAP'EM WITH WORTHLESS PAPER; NEAR WORTHLESS. SUBSTANTIALLY DEVALUED PAPER. Always comes in 3's. More surprises coming before new fiscal year and the introduction the new 100 dinker dollar bill 8th Oct.

Sep 18, 2013 - 5:48pm


Showing gold price at $1307, down $1.80. Silver at $21.56, down $0.22

Un-flippin' believable! MOPE at its finest! Going to go pour myself a margarita. Must be happy hour somewhere.

wax off

Sep 18, 2013 - 5:39pm

@ gold dog

Like the it actually.

Now go have a steak....


Gold Dog
Sep 18, 2013 - 5:37pm

Excuse Kcap-

while he "whips it out"!

Perma-bid works for me!



Sep 18, 2013 - 5:35pm

The Forensics

Lets take a close look at why Gold, stocks and bonds all went up today. And then lets decide what makes sense to be in.

1) Stocks: the advent of more money going into the TBTF's through MBS buys etc provides liquidity used to buy up the major stock averages issues. You know, the toilet issues we speak of here daily.

2) Bonds: 40+ billion per month of Treasury buys. Yay....therefore, the underpinning.

3) Gold: Rallies because of the fear that the FED has no other option for this economy other than to prop up these two markets listed above and if they curtailed any QE at all that the two markets listed above would crater. Since we know the buying cannot truly continue ad infinitum and sustain a healthy economy without people eventually realizing the only reason for the stock/bond levitation is the buying, then Gold gets the bid. And if I may....I think the term "perma-bid" is one that I would now like to whip out.

Hmmm...what to own, what to own??


Sep 18, 2013 - 5:34pm

Not me

TF: "What happened to all the folks who claimed I was stoo-stoo-stoopid for suggesting that last night's $20 drop was a head fake?"

But I have been wondering if the drop from around $1390 on September 9 was to create some space for a rebound today and still not violate all those key numbers?

Gold Dog
Sep 18, 2013 - 5:32pm


Volume is spotty as we close until the night session. That would make a candle chart seem screwie.

Nothing unusual---margin calls getting filled for the most part is my guess.




He who sells

What isn't hisson

Buys it back

Or goes to prison <-----Just an old saw from my broker days.

Sep 18, 2013 - 5:30pm

Likely Bart Chilton seen

buying eagles at a local NYC bullion coin dealer. Could be benron beardnanke buying eagles? Hard to tell apart with long hair and beard. Maybe both and they shared a taxi?

Subscribe or login to read all comments.


Donate Shop

Get Your Subscriber Benefits

Private iTunes feed for all TF Metals Report podcasts, and access to Vault member forum discussions!

Key Economic Events Week of 8/10

8/10 10:00 ET Job openings
8/11 8:30 ET Producer Price Idx
8/12 8:30 ET Consumer Price Idx
8/13 8:30 ET Initial jobless claims
8/13 8:30 ET Import Price Idx
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Unit Labor Costs
8/14 8:30 ET Cap Ute and Ind Prod
8/14 10:00 ET Business Inventories

Key Economic Events Week of 8/3

8/3 9:45 ET Markit Manu PMI July
8/3 10:00 ET ISM Manu PMI July
8/3 10:00 ET Construction Spending
8/4 10:00 ET Factory Orders
8/5 8:15 ET ADP employment July
8/5 9:45 ET Markit Service PMI
8/5 10:00 ET ISM Service PMI
8/6 8:30 ET Initial jobless claims
8/7 8:30 ET BLSBS for July
8/7 10:00 ET Wholesale Inventories

Key Economic Events Week of 7/27

7/27 8:30 ET Durable Goods
7/28 9:00 ET Case-Shiller home prices
7/29 8:30 ET Advance trade in goods
7/29 2:00 ET FOMC Fedlines
7/29 2:30 ET CGP presser
7/30 8:30 ET Q2 GDP first guess
7/31 8:30 ET Personal Income and Spending
7/31 8:30 ET Core inflation
7/31 9:45 ET Chicago PMI

Key Economic Events Week of 7/20

7/21 8:30 ET Chicago Fed
7/21 2:00 ET Senate vote on Judy Shelton
7/22 10:00 ET Existing home sales
7/23 8:30 ET Jobless claims
7/23 10:00 ET Leading Economic Indicators
7/24 9:45 ET Markit flash PMIs for July

Key Economic Events Week of 7/13

7/13 11:30 ET Goon Williams speech
7/13 1:00 ET Goon Kaplan speech
7/14 8:30 ET CPI for June
7/14 2:30 ET Goon Bullard speech
7/15 8:30 ET Empire State and Import Price Idx
7/15 9:15 ET Cap Ute and Ind Prod
7/16 8:30 ET Retail Sales and Philly Fed
7/16 11:00 ET Goon Williams again
7/17 8:30 ET Housing Starts and Permits

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

Forum Discussion

by argentus maximus, Aug 8, 2020 - 2:03pm
by argentus maximus, Aug 8, 2020 - 10:46am
by jack3617, Aug 7, 2020 - 5:51pm
by Titus Andronicus, Aug 7, 2020 - 5:13pm
by jack3617, Aug 7, 2020 - 5:06pm
by Steve S, Aug 7, 2020 - 1:59pm