Weekend Assignment

348
Sat, Sep 29, 2012 - 12:02pm

If you can spare a few minutes this weekend, please check out this video.

You may recall that, last month, I recorded a podcast with David McAlvany of McAlvany Financial. Here's a link in case you missed it: https://www.tfmetalsreport.com/podcast/4131/tfmr-podcast-26-david-mcalvany-mcalvany-financial-group. I had met David earlier this summer at FreedomFest and had come away impressed. Here was a guy...an actual investment advisor...who seemed to "get it".

As part of their marketing plan, McAlvany Financial is producing three videos this year that attempt to describe and summarize some of urgent financial issues that are bubbling just below the surface. The first video, which dealt with the ongoing financial crisis in Europe was released back in the spring.

The Fuse is Lit | European Perils | Part 1

Just this week, they released part 2 of "The Fuse Is Lit" series. This one is entitled "Asian Ascendance". For my part, I agree with almost all of David's conclusions here and I highly urge you to watch the video. The only area in which my opinion differs from David's is regarding a collapse/bubble in treasuries. I don't think this is imminent, at least not likely in the next 3-5 years. Perhaps because QE∞ was announced post-production, David may have since re-evaluated his position. I'll have to check with him to see. Regardless, this is definitely worth 25 minutes of your time.

The Fuse Is Lit Part 2 Asian Ascendance

https://www.reuters.com/article/2012/09/28/us-cftc-positionlimits-idUSBRE88R1C120120928

That's all for now. Have a great weekend!

TF

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  348 Comments

Vypuero · Oct 1, 2012 - 9:11am

hehe love Adventure Time

lemongrab is a very creepy character

swampman · Oct 1, 2012 - 9:16am

Last week's economic numbers

were TERRIBLE, so bets are being placed in PMs that Bernanke must act before the next set of numbers come out which are also likely to be just as bad. We could see $36 today.....EASY!

Groaner · Oct 1, 2012 - 9:24am

This move had to surprise a lot of people..

COT numbers very bearish, charts are turning over, etc,. everything pointed to a small correction..

If I held you know that today would have been a waterfall not a sputnek..

your welcome

Hobo · Oct 1, 2012 - 9:25am

Put

I smell put.

Groaner · Oct 1, 2012 - 9:29am
benque · Oct 1, 2012 - 9:29am

Blythe

Blythe may regret leaving her sneakeyleaker at home today.

tobydaniel · Oct 1, 2012 - 9:30am

Nice pop

Now the slow drip all day long to 34.45..... Lol. This gets old fast.

Watcher · Oct 1, 2012 - 9:31am

It's a new quarter

Positions sold off to show gains last week. Long re-entry this morning.

And don't forget TDan's comment that the hedgies have their black boxes algos fixed to buy the dips. Shorts are hurtin' like the USA Ryder cup team this morning.

Horst · Oct 1, 2012 - 9:36am

Committed some more this

Committed some more this morning, had a feeling something like this was going to happen. Like Groaner said, everything was pointing to a correction, but sometimes, it will just go the opposite way.

"Never short a bull market" proves itself again.

· Oct 1, 2012 - 9:37am

Well, they stamped that little fire out..

Funny how that $1 spike in silver was tamped back down to .40 by the opening bell so ETF investors could not take a profit! This market is getting just too unpredictable again. With the weekend news, it would not surprise me that we stay rangebound from 34 to 35.50 for a month.

Full disclosure

  • Really Long Physs
  • On the sidelines with my trading account except for one measly SLV October 37 call contract
  • Using fiat to pay off debt.
  • Trying to sell my rental properties before RE Crash 2.0

Perhaps QE infinity will support real estate values for another year. I believe Bernank has staved off the crash for a while longer. Good for all of us--more prep time.

Groaner Doctor J · Oct 1, 2012 - 9:43am

Yeah they threw the kitchen sink at silver

spike down on huge volume.. have no idea what the rest of the day will bring.. 

most mondays stink though..

Louis Winthorpe III swampman · Oct 1, 2012 - 9:44am

@swampgas

I agree with your analysis. I think that Chicago Fed President Charles Evans was front running Bernanke's speech later today during which Bernanke will begin additional verbal easing.

Looking good, Billy Ray!

Beastly Stack · Oct 1, 2012 - 9:50am

Sell The RIPS & Buy the DIPS

Love that saying!

If it was only that easy!

Colonel Angus · Oct 1, 2012 - 9:56am

Anyone notice that the silver market is giving Blythe the finger

Check it out here at kitco....somewhere about 9:30 or so it seems that the pattern ends. Now what does that mean to a TA expert?

https://www.kitco.com/charts/livesilver.html

Beastly Stack · Oct 1, 2012 - 9:57am

1800

Gold wants it today,Don't think it will be denied either!

Patrancus · Oct 1, 2012 - 10:00am

My wager their is no gold

My wager is their is no gold, it was pilfered away long ago. Deceptions after deceptions that go by the sheeple 24/7, why would anyone believe different. Please advise

Hammer · Oct 1, 2012 - 10:00am

(No subject)

It's just the gift that keeps on giving........

Greek finance ministry says Troika has objects to its austerity efforts.

boatman · Oct 1, 2012 - 10:03am

$1820

on ben's jawboning QE-INF today at 12:30 speech

its the reverse of what it was all last fall/spring/summer

he's gotta get his mileage out of it in the dow.

Groaner · Oct 1, 2012 - 10:07am

see if this is a double top in gold here?

I guess I am just a spoil sport, shook out of my positions last night.

plus note that the metal stocks are not doing that well.. Keep an eye on them, if they falter then bullion will follow

Beastly Stack · Oct 1, 2012 - 10:11am

@boatman

My sentiment exactly on Big Ben.The markets on friday were not performing to his liking!

Dr G · Oct 1, 2012 - 10:11am

Manufacturing data was much

Manufacturing data was much better than expected. Both metals withstood that fairly well. 

Linky: https://www.cnbc.com/id/49239979

Dr G · Oct 1, 2012 - 10:12am

If that sentiment is correct

If that sentiment is correct then gold easily in the $1820 range and silver $35.50+. 

AC_Doctor Dr G · Oct 1, 2012 - 10:19am

ISM bullshit

Zerohedge: "This means that the ISM to Chicago PMI gap is now the widest since September 2009. Perhaps the White House's Alan Krueger had run out of explanations for why the economy is collapsing into Q4, and finally made sure going forward all economic data will be better than expected. At least until the election of course."

The EE threw a boatload of metals down around 8:30 and I expect to see AU and AG starting to go back up after an hour in short covering.

Mr.Grey · Oct 1, 2012 - 10:21am

@ katie and others on addiction

If cognitive reasoning can facilitate a recovery from any behavior then there was no such thing as addiction, only poor decision making. The real problem is what would we do with all the out of work psychologists, phychiatrists and chemical dependency counselors. How would we keep our prisons full and what the hell would we do with all those social workers that support that system?

boatman · Oct 1, 2012 - 10:23am

well, u know he's got

to own it....... n talk it up.

hes going to save us after all.

course i believe it was baked in the cake in '71

and we have to go thru the great reset ........no one straightening out anything without pain first.

RPs line of thought not happening til the sheeple demand it[or at least enough of them]

its still 'what can i get for free' and 'do anything just get me my mcmansion back'

whole lotta back down to earth gotta happen first.

and that is painfull.

Zoltan · Oct 1, 2012 - 10:24am

Glad I don't try to trade this market

I honestly was worried that we would get slammed last night based on the position limit ruling. Obviously a WTFDIK call.

However, I am calling this Friday's lease rate spike (or bad data print for S Roche) as the pattern is there for anyone who wishes to see it (unless you look at the kitco charts where it is "washed" after a few days). The data (numbers) will be printed here on Friday one way or another.

Z

Hrunner · Oct 1, 2012 - 10:27am

I would love to know

Must. Not. Let. Silver. Above. $35.

Cononish1314 Dr G · Oct 1, 2012 - 10:28am

Eight miles high

Not wanting to take the latest prices as some kind of unchanging fundamental truth, but it's good to be sniffing the thin air of the high 30s. Good to have many previous highs disappearing beneath us like the Himalayas and to be light of another bundle of chartist historical baggage.

(You'll know that we've hit the Van Halen Belt when someone posts a video.)

Groaner · Oct 1, 2012 - 10:31am

My double top theory is playing out.

who knows.? 

the metal stock are not looking very strong, so I think we may start to go down from here.

RGLD and SLW in the red now

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