Sing It Like Maureen

A nighttime raid and a new day dawns.

Just a few items today as MrsF has designs on my time. An entire day of Christmas shopping awaits and I plan to take the excursion without my phone and the ability to check the "markets".

Last night's devious attempt to run the sell stops below 1705 succeeded in tilting the charts bearishly this morning. Whatever. I couldn't care less. I do continue, though, to find it amusing that every time we get an unexpected raid for $20 in gold, the same old trolls and naysayers show up. I'm not sure what they're trying to accomplish. First of all, why would I or any of you feel foolish for being bullish in the face of the fundamentals? Additionally, by blasting me as a "cult leader" etc, they seem to think they can discourage me and get me to shut this site down. Uhhhhhhh....let me make this perfectly clear: I ain't going anywhere. The Cartel can raid and manipulate. Their disinfo agents can plant seeds of doubt. Their dupes and shills can lie and deceive. Whatever. It doesn't matter. The facts are what they are and the fundamentals do not lie. Please utilize this time and these distorted, low prices to add to your stack. Physical metal is your only protection against the ongoing destruction of paper money.

Maybe these trolls are frustrated paper traders who get angry when the free chart analysis I offer doesn't work out as planned? Look, I do my best. I not only try to give you an explanation for what has happened but I also try to predict the future. Sometimes it works, sometimes it doesn't but everyone needs to keep these two things in mind:

  1. Not even Nostradamus could have warned you that at precisely 7:55 EST last evening, some weasel on a trading desk would institute a naked sell order with the intention of blowing out the sell stops.
  2. I don't even trade anymore. Yes, I have a small handful of long-term options but I have practically begged all of the traders that frequent this site to use Andy Maguire's trading service. Given the unprecedented desperation of the manipulation, you are absolutely crazy if you are attempting to trade the metals without his guidance.

OK, back to the business at hand. Since there is such a dogged determination to keep the metals down, we'd best be aware of the support levels and where price could head if those levels are broken. For now, the lows of last week are holding and that is certainly a good sign. However, as seen last night, The Evil Ones can emerge from the shadows at any time, day or night, to blindly raid price. Please use the charts below as guidelines for dip buying.

Finally I leave you today with the reprint below. I wrote this on Saturday, November 3rd, after the metals had been savagely beaten the day before. Gold was at $1675 and silver was under $31. Like today, many were fearful and the AGAs and trolls were everywhere. The message is simple: Any fight worth winning is going to be challenging and we don't take on this endeavor because it is easy, we take it on because our destiny requires it. Setbacks and frustration come with the territory but we must persevere. Keep the faith. Be strong. Vindication and victory will soon be ours.

TF

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https://www.tfmetalsreport.com/blog/4296/defiance

Well, you can either give up or carry on with renewed determination. I choose the latter.

These are the times that try men's souls...

Let's see, what do we know for certain?

Quantitative Easing is now a permanent fixture of the financial markets for, without it, the U.S. bond market would collapse and interest rates would reset multiples higher.

  • The U.S. federal deficit will continue to be greater than $1T/year, regardless of the outcome of the election.
  • Later this month and into December, a "lame duck" session of Congress must come to terms with the looming fiscal cliff and well as an imminent breach of the debt ceiling.
  • Further downgrades of the credit rating of the U.S. are likely.
  • The European Union, already tattered at the edges, remains on the brink of crisis and dissolution.
  • Dollar creditor nations, led by China, are rapidly accumulating gold and silver as they exchange their devaluing fiat reserves for hard assets.
  • Dollar hegemony and reserve currency status will, one day in not-too-distant future, come to an end.

I could continue but I think you get the idea. Regardless of the paper machinations of the Comex, physical precious metal remains your best defense against the tumultuous times ahead.

The summer soldier and sunshine patriot will, in this crisis, shrink from the service of Turdville...

I think you know where I stand but where do you stand? Will you now become bitter? Will you be easily swayed by the uninformed and the disinformation agents? Do you have the courage of your convictions to not only find your way but guide others through the darkness?

Yesterday was tough and, worse, unexpected. But don't think for a minute that it was a selloff directed specifically at the precious metals. So understand that there may be more going on here than you think. The situation in Europe is tenuous, at best, and things on the ground in the U.S. aren't much better. For now, the precious metal "baby" is being thrown out with the proverbial "bath water". You should seize this opportunity to add to your stack.

  • With all of the selling in gold and silver yesterday, just whom do you think was taking the other side of that trade? Let give you a clue...it wasn't the specs.
  • Backwardation, as measured by the difference between the futures "offer" and the spot "bid", has reached a level of such extreme that it makes further significant declines highly unlikely.
  • Our friend, Andrew, reports that demand in London yesterday remained "exceptional" and "unprecedented". Though the effects of this physical demand can often by muted on an intraday basis, it nonetheless precludes the bullion banks from exacerbating the moves to the downside.

But he that stands by it now, deserves the love and thanks of man and woman...

I personally promised you a "hot, explosive and historic" summer. It, obviously, did not come to pass and, so far, it has not materialized this autumn. Do not be dismayed. I personally know of several extraordinarily brave and courageous people who are actively working to bring about an end to the blatant manipulation of precious metal price by the Bullion Bank Cartel. With firm reliance upon the protection of Divine providence, I am extremely confident that they will be successful. When they are, not only will the manipulation end but, perhaps, the plundering of Western reserves will slow, as well.

Tyranny, like hell, is not easily conquered; yet we have this consolation with us, that the harder the conflict, the more glorious the triumph...

So, again, I implore you: Do not lose faith and do not suffer from doubt. The end of The Great Keynesian Experiment is indeed upon us and you must continue to prepare accordingly. Do not be swayed by the day-to-day trading of the Comex nor the incessant noise and disinformation supplied by the financial media. Think for yourself. Study the past and the present, then consider the future. Trust your instincts. Believe in yourself and your ability to lead and inspire. Your family needs you. Your friends need you and Turdville needs you. The future demands leadership at every level and we all have a role to play. I will continue to do my part. Will you?
 

406 Comments

opticsguy's picture

coincidence?

My cat killed a squirrel in my back yard last night, and one of the dogs tried to bring it in the house.

Cottonbelt21's picture

The K-Wave ...

… slowly plowing through Paul Mychreest interesting, long report where he speculates we are in the ‘Winter’ cycle (started 2000), lasting for quite some time to the benefit of gold & silver.

His view of an interesting combination: when priced in modern-day currency ($USD, Euro, etc) we have ‘inflation’ in the price of everything (goods, services, asset prices) despite inaccurate official CPI from USGov’t while simultaneously, when priced in gold (ounces) we have ‘deflation’ in the price of everything (goods, services, asset prices) … a toxic brew, setting the stage for a possible/likely loss of confidence in the purchasing power of paper currencies / currency crisis, what I often refer to as the ‘bonfire of the currencies’.

http://www.scribd.com/doc/116141019/Thunder-Road-December

Groaner's picture

Dec is supposed to be a good seasonal month for metals

Last year Dec was very bad., are we headed the same direction? Cant believe the Fed's announcement is having no effect right now.. More end of the year selling for taxes?

ag1969's picture

opticsguy

I used to have a black and a yellow lab that could open my back screendoor.  So one night they were going nuts and woke me up, so I just let them out because I had an invisible fence and they could open the door to get back in.  I discovered they were going nuts over a skunk when they both came into my bedroom sprayed by a skink.  My house stunk for three months!  Squirrel not so bad.

Bollocks's picture

opticsguy

Well, look on the bright side. At least it wasn't the squirrel that killed your dog which was then dragged in by the cat, eh? surprise

indosil's picture

30 Tries!!!!!!!!!!!11

Iron Dome at $1700.I v been watching the charts for the last 9 hrs.... $1700 tries minimum 30 times...flabbergasting 

Groaner's picture

Yeah those HFTs computers run on emotions.

capping for sure.

opticsguy's picture

could be worse

another of my cats brought home a blue parakeet, live, and let it go in the house. He eventually caught it again and I was able to take it away from him.  The parakeet found a home.

Groaner's picture

Oil has bounced back, thats good for the index.

gold looking much stronger than silver.. 

We need to break 1703 on gold to get  something going..

I wonder how much effect the China MFG report will have on commodities? It should give them a footing of some kind today.

ClinkinKY's picture

@ Levon

Before the rodent skin vest wearers get too excited, that is a world with guns

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You say that like it's a "bad thing". Would you prefer chains, figuratively or literally?

Silverman's picture

Big raid is coming

Tighten your sit belts. 

El Gordo's picture

Groaner

How do you define good and bad?

Groaner's picture

raid?

how do you figure?

Groaner's picture

El Fat

when it comes to the markets I cant really, just make a guess like all the paid shills.

Silverman's picture

Weekly charts

Looking at the weekly and daily charts. They are bad as possible for silver and gold. Specially weekly chart is big indication of volume of the short position I think. 

waxybilldupp's picture

Levon

>> "Anyhoo, it seems I've ruffled a few feathers but also got a few people to think." <<

I guess I missed the ruffled feathers.  You posited a scenario and you got some responses.  That's typically what happens here.  As far as getting "people to think", my observation from hanging around here since the Watchtower days is that most Turdites have thought their situation thru very carefully.  Self-preservation is serious stuff. I suggest that the majority do not want PMs to rocket higher by factors of 5 or 10.  They fully recognize the implications and do not relish the thought of economic, political and social breakdown.  That said, they do not shrink from the possibility and do what they can to prepare for that harsh reality.  I for one, would like to see things improve, or at least not significantly degrade for the next 20 years or more.  I am also rational and realistic enough to know that it is mathematically impossible for that to happen.

No one can predict how this will all play out but not preparing is just plain stupid.  You seemed to suggest that if one was preparing for the worst, it was being negative and losing perspective.  I found that demeaning.

wax off

SIlverbee's picture

According to Harvey

We are up to 15Moz silver standing for Dec, with about 11Moz served. He says waiting for them to be deducted from inventory which I guess implies the paperwork on the delivery is done but not the actual delivery.

Silverman's picture

I'm physical stacker.

Also trading to buy more physical. Currently owning over 10kgs of silver. Can't afford gold to be honest. Forex indicators are indicate something. So I'm telling what I'm seeing on the indicators. Closed my only silver position left. Bought at 30.50. Was looking to close at 40. But tired of paying weekly charge money. So closed at 33.40. 

achmachat's picture

Silver miners and refiners:

if you're reading this, please answer this one simple question:

why would you let silver out of your doors at these prices when you can BARELY break even?

thank you.

yours truly,

us

ClinkinKY's picture

Want to know why we're "in the shi**er"?...

...Remember this guy... scared that Guam might "tip over" ...(following up on TF's "The morning After/Poseidon Adventure" theme:)

Now he's apologizing,  apparently to one other politician in an empty chamber, for calling people "midgets" by re-classifying them as "abnormally small". You can't make this shit up.

Bollocks's picture

achmachat

"why would you let silver out of your doors at these prices when you can BARELY break even?"

Precisely. So what do you think is going to happen?

Silverman's picture

GOLD (Spot) intraday: key ST

GOLD (Spot) intraday: key ST resistance at 1712


Pivot: 1712.00

Our preference: SHORT positions below 1712 with targets @ 1684 & 1678.

Alternative scenario: The upside penetration of 1712 will call for a rebound towards 1722 & 1731.

Comment: the RSI is mixed with a bearish bias.

achmachat's picture

what's going to happen?

If I was First Majestic etc. I'd organize a roundtable meeting and come up with the USPC.

(United Silver Producers Cartel)

enough is enough!

Stack&#039;em High's picture

Daveyboy

I'm not sure what it is you hope to accomplish here, but, let me see if I can help you out a little...

FROM THE "ABOUT" PAGE: TF Metals Report is a blog and online community about the "end of the Great Keynesian Experiment." 
 
 So, you see, your views are not shared with the majority of this community, and that's fine, just don't expect to win over the hearts and minds of many turdites. 
 
Is your goal to recruit some of us to the idea of freegold? You've been railing against silver, using buzz phrases like "walking in the foot prints of giants" (more b.s. from the ANOTHER crowd) and believe the USD will remain the reserve currency (that line of thinking is what Ambrose Evans-Pritchard, Business Editor of the Daily Telegraph spreads). See this: http://blog.milesfranklin.com/?p=5124  I apologize if I'm wrong... 
 
Fiat currencies last an ave of 38.5 years, we are over 41 years old and reserve currencies last an ave of 94.83, we are at about 93. I have 2000 years of history supporting these facts, what are you using to support your theories? 
 
You've picked your path, and I mine. I can accept that my decision(s) may be wrong, can you?
 
El Gordo's picture

Clink

Obviously Representative Johnson is trying to replace Texas very own Shelia Jackson Lee as the unconditional number one buffoon in the United States House of Representatives, but he's got a long way to go to top Queen Shelia.  And besides, I think he claims some form of mental illness or another unlike Yale grad Jackson Lee who actually does not even realize that she is stupid (I have previously posted a study of stupid people on this blog) that explains these things in great detail.  Sorry Rep. Johnson, you are out of you league when in comes to the stupidity test.

http://www.examiner.com/article/is-sheila-jackson-lee-really-that-stupid

Bill of Rights's picture

U.S. consumer prices declined

U.S. consumer prices declined a seasonally adjusted 0.3% in November, mainly because of falling gasoline costs. So-called core prices, which exclude the volatile food and energy categories, rose 0.1%, the Labor Department said Friday. Economists surveyed by MarketWatch had forecast a 0.2% decrease in the main CPI and a 0.2% advance in the core rate. The energy index dropped 4.1% while food prices rose 0.2%. Consumer prices have risen an unadjusted 1.8% over the past 12 months, or by a similar 1.9% on a core basis. That's within the Federal Reserve's inflation target. Real or inflation-adjusted hourly wages, meanwhile, jumped 0.5% last month to post the biggest increase in four years. Yet real wages are flat over the past 12 months, meaning the average worker has seen no increase in his purchasing power.

WTF? no one eat or drive here?

SIlverbee's picture

Cartel has been my call as HEH

along with withholding production to be sold on COMEX /LBMA agreeing to change or create a new silver  physical exchange (NASE) maybe with 50% leverage max. It would need a non US /UK legal jurisdiction and non $ payment. 

Byzantium's picture

@ Achmachat re miners

The miners probably need the cash.

Collusion between producers is defacto illegal. The only cartels that I know of, that do it with impunity, are OPEC, and the banking cabal.

The banking cartel would love to be able to pin 'anti competitive practices' onto the miners; it would result in bringing them to their knees with fines and penalties, in a cynical move to prove that the so called 'regulators' (LOL) are awake and heroically watching like hawks, for any market malfeasance.

Groaner's picture

very lethargic trading going on.

amazed in a holding pattern. 

it is friday and they have not been kind of late to the metals, and stocks

Beastly Stack's picture

It's All in the US Dollar

The dollar is sitting just below 80 and I do not think it is going back above 80 with this Fiscal Cliff ordeal.

The Raid has happened and it will be tough for them to get much more downside from these levels.If equities break the lows from yesterday they have a shot to generate some selling.Other than that my friends,no worries about much more downside in Gold anyways.

Hopefully we watch the shorts get their faces ripped off later today!

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