A2A with Rob Kirby

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What great timing to have Rob Kirby back for an A2A webinar. Rob's vast experience provides a unique perspective on the failure of The Generally Accepted Narrative for 2017 as well as some wisdom on where we are headed from here.

Among the topics discussed today:

  • Rob's thoughts on how The Fed was able to institute ZIRP and why rates remain historically low.
  • Why the POSX is falling so rapidly in 2017.
  • What message could be gleaned from Terry Duffy's appearance on FBN two weeks ago.
  • Why Rob prefers physical gold and silver to owning the mining shares.
  • And much, much more!

This was an incredibly informative presentation and we should all be grateful that Rob so generously shared his time today. Please try to carve out some time to give this podcast a thorough listen.

TF

  85 Comments

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Angry Chef
Aug 3, 2017 - 11:39pm
lakedweller2
Aug 3, 2017 - 11:31pm

@Canary

I don't know what to think about new shorts as it seems everyday the miners whipsaw back and forth. Some days the spread of up and down is somewhat wide, and others more compressed and choped. Individual stocks can have some "normal" one direction movement for good or bad reasons, but generally direction appears like the banks or hedge funds are moving the miners both ways everyday most likely to maximize earnings on a daily basis without any real price discovery.

I guess all I am saying is I got to see what happens next as there is nothing fundamental to rely on...and it appears technical matters are fabricated. So what I haven't been able to rationalize yet, is how they lost control the first six-seven months of 2016 before taking it all back. I fear they won't let that happen again.

I remain frustrated and disappointed that the US Government sold out.

scoremore
Aug 3, 2017 - 11:25pm
canary
Aug 3, 2017 - 11:15pm

If the new short contracts were issued by the commercials...

That's Not a good sign for us ...they will attack to cover shorts on cheaper prices. And the only thing that could save us would be a noticeable BLS miss.

Edit...It all depends how the manipulators handle the USD/JPY index tommorrow.

scoremore
Aug 3, 2017 - 11:14pm

Craig...

Will be peaking at those at work...thanks for highlighting them.

It is small tips or advice like this that I enjoy and assimilate.

Thanks!

Aug 3, 2017 - 11:05pm

Big day tomorrow

Obviously, it's a big day tomorrow re the POSX, the USDJPY, CDG and CDS.

However, it's also a very big day in the bond market. Check out these charts and watch rates very closely in the hours after the BLSBS.

Aug 3, 2017 - 10:58pm
lakedweller2
Aug 3, 2017 - 10:54pm

Agree

A2A was excellent.

scoremore
Aug 3, 2017 - 10:51pm

Nice A2A...

Short but very sweet!

Enjoyed the question about Duffy and Rob expanded on it well.

The response about Andy's 250 ton order was very interesting and answered very carefully.

You both did a great job.

Thank you very much Craig!

Aug 3, 2017 - 10:45pm

Re the ebb and flow of the yen correlation

Remember, the "market" isn't 100% fully automated. There are still occasions for The Banks to cap price by rapidly issuing new naked shorts to feed to The Specs that are looking to buy due to the falling USDJPY. Most of the time, the correlation is 1:1 and one USDJPY point equates to about $10-12.

However, if The Banks decide to feed The Specs contracts, then we see the correlation lag while open interest drastically increases. We've seen this before and we may be seeing it again now. Check the most recent OI changes for CDG:

Tuesday: +$6 with OI up 11,800

Wednesday: -$1 with OI up 6,300

Thursday: -$4 (with a recovery from overnight smash) with preliminary OI up 3,200

So price is essentially unchanged while OI is up 21,300 or about 5%.

Therefore, I think we can clearly state that it's NOT a case of the yen-gold correlation failing or going away. Instead, it is VERY LIKELY a case that The Cartel Banks are actively and heavily defending against a price rise in the hope that maybe the BLSBS will go their way on Friday.

Lastly, all that said, take a look at the charts for the past three days and five days. Over the same three day period of Tue-Thu, as usual it's pretty hard to tell one from the other. Over the past five days, CDG appears to be lagging by maybe $6 or so.

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