Killing Time

Thu, Mar 5, 2015 - 10:40am

One look at these updated charts and you'll see why there's really not much to discuss this morning.

I mean, seriously, what else is there to say this morning? When not even the ECBQ€ stuff can budge price out of these corners, you know just how carefully these pennants are being painted. Please click the gold chart in the left and look at how precise this is. Absolutely remarkable!

So, really, the only thing I'd like to discuss this morning is the clip below. Perhaps, before you watch it, you should go back and read Part Two of the essay series that Jim Quinn published last week:

Not only is a 7-year auto loan a bad idea, a 7-year auto loan where you roll the amount you're "underwater" into your new loan is a even worse idea. To then have these loans packaged together and sold off in tranches as AAA-rated collateralized debt obligations is a nightmare we've seen before and a truly horrific idea.

And now comes this...a discussion on CNBS as to whether someone should take out an extended car loan and use the extra debt assumed to dabble in the stock market, all because a "diversified portfolio should return in excess of 3-4% over time". And to think, I'm the one vilified and despised in some corners of the internet because I've had the audacity to suggest that folks continue to add physical metal while prices have declined these past three years...

Anyway, this is a sure sign of an impending stock market collapse. How can I say this? Because this is the exact same type of discussions that dominated the financial press in late 1999 and early 2000! Back then it was "take out a home equity loan" and/or "get a cash advance on your credit card" and buy tech stocks. Don't you realize that the NASDAQ was up 80% last year? This is easy and anyone with just a few extra minutes of time per day should be able to double their money really quick and then pay back all of the fresh debt. Just buy a good diversified portfolio with names like Lucent, Level 3, Worldcom, InfoSpace and JDS Uniphase.


As I go to close, I see that price has suddenly popped $5 and it is slightly outside of the pennant. While this is certainly not a bad thing, don't go getting all excited about a positive resolution just yet. There will be all sorts of false breakouts and breakdowns today and overnight as the pennant closes to zero. Nothing is permanent until 8:30 tomorrow.


About the Author

turd [at] tfmetalsreport [dot] com ()


Age Zilverstra
Mar 5, 2015 - 10:42am


can turn quickly...

Mar 5, 2015 - 10:42am

Broke out of the pennant?

Broke out of the pennant?

Mar 5, 2015 - 10:43am


Looks like we just broke out!

Mar 5, 2015 - 10:44am

Banksters on the Run

They don't have any Au, paper gold yes, Au not so much! Check this out:

Ned Naylor-Leyland @NedNL

Ok, why are #HSBC closing ALL 7 of their London Gold vaults with just 2 months notice?! Fact, not rumour. I bet the ETF vaults stay open!

4:07 AM - 5 Mar 2015

Ned Naylor-Leyland @NedNL

#HSBC told my bullion dealer it was a 'Business decision' as there isn't enough profit in custody...twilight zone stuff....

5:10 AM - 5 Mar 2015

All the mopers around here need to understand that we are IN the end-game. Appearances will be kept, they will try to make it not look so, but the dots keep appearing. The tweets above, Investigations of the banks for appearances not prosecution, replacement of Gold fix with another corrupt fix, Repatriations, Central Banks buying, the Queen taking selfies in the BoE vault for confidence sake, Banker Nailgunning, 100% mortgages again, 7 year car loans w/ over 100% LTV's, out in the open manipulation, stolen Sovereign gold, GOFO disappearance, Ken Hoffman interview, GLD halving "inventory", Rickards apologist letter about why China has us by the balls, War Mongering, all "Developed" markets printing like crazy, Propping the dollar up with nothing but hope of a rate hike so we can tell ourselves that everything is awesome, etc.

indiana rod
Mar 5, 2015 - 10:44am

& Year Auto Loans

Don't worry about those loans. They help the wonderful GDP report. BTW, you never hear about the Chevy Volt, the $42,000 electric car that traveled 30-35 miles between charges.

indiana rod
Mar 5, 2015 - 10:45am
Mr. Fix
Mar 5, 2015 - 10:48am

These breakouts are becoming quite predictable…

How many “bull traps” can they set before no one will play anymore?

I think it's just background noise within the illusion of a market.

I stand by my assertion once again, “gold and silver are range bound until the system implodes”.

The first clue to this implosion will be a “collapse” in prices, not a rise.

When it does finally rise, the system by which we are measuring it, will no longer exist.

Mar 5, 2015 - 10:50am

Watch out for wrong footing

...They have created a monster.

...People are wise to their games and hedging both ways

...heads or tails, they lose. LOL

Mar 5, 2015 - 11:00am

And this is just incredible

I mean, think about this. Rates are already extraordinarily low..but to move by 25% in minutes? Incredible!

Imagine the chaos if the 10-year note suddenly plunged from 2% to 1.5% intraday. Even the once-in-a-thousand-year move last Oct 15 wasn't that large.

Mar 5, 2015 - 11:01am

Pennant flag ? = distress signal

I might be accused of over-thinking this one. However, Turd has often mentioned little signals that the London Monkeys give to the market like smashing the miners a little before a big raid on gold. I wonder that all of these little Pennant (obvious to a non-chartist like myself) formations could be a sign of distress ie " Mayday Mayday - the ship's going to the bottom". I do believe that Pennant flags are naval in origin. I don't know their meanings though.

Key Economic Events Week of 10/21

10/22 10:00 ET Existing home sales
10/24 8:30 ET Durable Goods
10/24 9:45 ET Markit flash PMIs
10/24 10:00 ET New home sales
10/25 10:00 ET Consumer Sentiment

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Key Economic Events Week of 10/21

10/22 10:00 ET Existing home sales
10/24 8:30 ET Durable Goods
10/24 9:45 ET Markit flash PMIs
10/24 10:00 ET New home sales
10/25 10:00 ET Consumer Sentiment

Key Economic Events Week of 10/14

10/15 8:30 ET Empire State Fed MI
10/16 8:30 ET Retail Sales
10/16 10:00 ET Business Inventories
10/17 8:30 ET Housing Starts and Bldg Perms
10/17 8:30 ET Philly Fed MI
10/17 9:15 ET Cap Ute and Ind Prod
10/18 10:00 ET LEIII
10/18 Speeches from Goons Kaplan, George and Chlamydia

Key Economic Events Week of 10/7

10/8 8:30 ET Producer Price Index
10/9 10:00 ET Job Openings
10/9 10:00 ET Wholesale Inventories
10/9 2:00 ET September FOMC minutes
10/10 8:30 ET Consumer Price Index
10/11 10:00 ET Consumer Sentiment

Key Economic Events Week of 9/30

9/30 9:45 ET Chicago PMI
10/1 9:45 ET Markit Manu PMI
10/1 10:00 ET ISM Manu PMI
10/1 10:00 ET Construction Spending
10/2 China Golden Week Begins
10/2 8:15 ET ADP jobs report
10/3 9:45 ET Markit Service PMI
10/3 10:00 ET ISM Service PMI
10/3 10:00 ET Factory Orders
10/4 8:30 ET BLSBS
10/4 8:30 ET US Trade Deficit

Key Economic Events Week of 9/23

9/23 9:45 ET Markit flash PMIs
9/24 10:00 ET Consumer Confidence
9/26 8:30 ET Q2 GDP third guess
9/27 8:30 ET Durable Goods
9/27 8:30 ET Pers Inc and Cons Spend
9/27 8:30 ET Core Inflation

Key Economic Events Week of 9/16

9/17 9:15 ET Cap Ute & Ind Prod
9/18 8:30 ET Housing Starts & Bldg Perm.
9/18 2:00 ET Fedlines
9/18 2:30 ET CGP presser
9/19 8:30 ET Philly Fed
9/19 10:00 ET Existing Home Sales

Key Economic Events Week of 9/9

9/10 10:00 ET Job openings
9/11 8:30 ET PPI
9/11 10:00 ET Wholesale Inv.
9/12 8:30 ET CPI
9/13 8:30 ET Retail Sales
9/13 10:00 ET Consumer Sentiment
9/13 10:00 ET Business Inv.

Key Economic Events Week of 9/3

9/3 9:45 ET Markit Manu PMI
9/3 10:00 ET ISM Manu PMI
9/3 10:00 ET Construction Spending
9/4 8:30 ET Foreign Trade Deficit
9/5 9:45 ET Markit Svc PMI
9/5 10:00 ET ISM Svc PMI
9/5 10:00 ET Factory Orders
9/6 8:30 ET BLSBS

Key Economic Events Week of 8/26

8/26 8:30 ET Durable Goods
8/27 9:00 ET Case-Shiller Home Price Idx
8/27 10:00 ET Consumer Confidence
8/29 8:30 ET Q2 GDP 2nd guess
8/29 8:30 ET Advance Trade in Goods
8/30 8:30 ET Pers. Inc. and Cons. Spend.
8/30 8:30 ET Core Inflation
8/30 9:45 ET Chicago PMI

Key Economic Events Week of 8/19

8/21 10:00 ET Existing home sales
8/21 2:00 ET July FOMC minutes
8/22 9:45 ET Markit Manu and Svc PMIs
8/22 Jackson Holedown begins
8/23 10:00 ET Chief Goon Powell speaks

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