Craig Hemke, aka "Turd Ferguson," was a licensed securities "professional" for nearly twenty years. Disgruntled by the fraud known as "financial services", he retired to a career as a serial entrepreneur in 2008. Though otherworldly in his ability to forecast price movements, The Turd is NOT a soothsayer, a psychic or a witch. After all these years, he simply has a decent understanding of the forces at play in the precious metal "markets".
You can reach The Turd by visiting the Contact page and selecting "Speak to The Turd" or you can simply send him an email at turd[at]tfmetalsreport[dot]com. If you are polite and not belligerently arrogant, he will probably answer you in short order. If he does not answer you, do not be offended. He's a busy guy and there are only so many hours in a day.
The week begins with the usual Comex shenanigans but the bigger concern is with how it will end. There's a lot of economic data between now and then and an even longer list of potential unknowns, particularly with this Monkeypox stuff.
This seems strange. Every Friday has market-moving news whether it's a BLSBS or some sort of other economic datapoint. But today, there's nothing and, left to its own devices, CDG and CDS are going slowly melting away and taking with them any chance of a weekly close above $1840 or $22....
That is the question. For yours truly, the end result has always been stagflation and the US (and world) is definitely headed in that direction. But today's economic data seemed to forestall the recession talk for now and that has helped to drive the Comex metals backward...again.
I don't like Mondays. I want to shoot the whole day down.
Let's hope that this week will be different from last week...or the week before that...or the week before that. It didn't start out particularly well. Did you catch this little beauty overnight? Nothing to see here, of course....
Don't you feel that way, too? I mean, come on. The Comex precious metals have done nothing but go straight freaking down for weeks and, at some point, you feel like none of it even matters anymore. Which is precisely why we are now likely at an intermediate low.