Posted by Buygold
@ 10:32 on January 24, 2020
$18 breached – 3rd time appears to be the charm today. SM is giving up the gains, there is a seller in the SM that appears to be trying to overwhelm the PPT – tall order though. Almost wonder if it’s the same buyer of pm future’s – but I digress – my optimism always has a tendency to betray me. 🙂
That being said, HUI breached 235 and if the SM continues to sink and the metals continue to climb, I suspect 235 will be a distant memory, despite the USD strength.
I hate to say it, but I think we have a trifecta going. Gold, silver and the shares. Weak SM, strong bonds and a USD I expect may not hold its’ gains. But hey, WTFDIK??
Posted by ipso facto
@ 10:29 on January 24, 2020
‘I want to open new fronts with Russia & China as US lived off the fat of our land,’ Philippines’ Duterte tells RT
https://www.rt.com/news/479044-duterte-russia-us-dominance/
Posted by Maddog
@ 10:21 on January 24, 2020
Posted by Maddog
@ 10:20 on January 24, 2020
Thankyou i was just relaxing back into a good doze !!!!
The Gold buyer is @ 24/7 , what I have noticed is they come in and take the mkt back to where the scum sold it off from, it’s like they not only want to buy, but don’t want the scum to drive prices down either and make the mkt look weak, the opposite in fact.
As for Silver this 18 dollar level is insane…..the minute any real short covering starts, it’ll jump in 5 dollar jumps…..which was the spread back in the 80’s when it hit $ 50…
Posted by Richard640
@ 10:08 on January 24, 2020
Baltic dry index, Oil, copper, baltic dry index – all collapsing
WTF Chart Of The Day: Bonds Ain’t Buying It
Posted by ipso facto
@ 10:04 on January 24, 2020
Posted by Buygold
@ 9:57 on January 24, 2020
Was hoping to prod you out of your afternoon nap. 🙂
Scum is surely hell bent on keeping silver below $18, but there’s a buyer there that keeps probing. Same with gold, just pushing the envelope higher, but it appears to be here in the US – London seems to be able to keep serious buyers at bay. Not so much at our more than corrupt Crimex for some reason.
Posted by ipso facto
@ 9:53 on January 24, 2020
$18 silver sure seems to be the third rail of PM price rigging! If it’s breached firmly does crimex blow up? Stay tuned! 🙂
Posted by Buygold
@ 9:49 on January 24, 2020
lookin’ good Billy Ray!
How will the scum react? Will they make us try three times today?
Posted by Maddog
@ 9:48 on January 24, 2020
Yup there sure is a buyer out there, who is matching/outbidding the scum and of course they have the advantage of being long, wheras the scum have to deliver and can’t.
Maybe todays silver pop was the Gold buyer, having a sniff…..now that will have the scum crapping itself.
Posted by Buygold
@ 9:39 on January 24, 2020
“we forget that gold at 1550-60 today didn’t require the trip down to 1350-1450 that all the anal-Lists said had to be visited first..”
Yeah, a lot of respected guys said this from Murph’s and other site’s who’ve been right about the downside corrections for a long time. Really, there’s a bunch of things going against us – COT’s, strong SM, charts, etc.
Somehow though, there seems to be a strong buying effort below the metals and the shares that we haven’t seen before. To be honest, I’ve never seen the COT’s this lopsided for this long without a huge correction, so either we’re getting played by fake numbers, or the buying on the other side in the paper markets is intended to keep the banksters at bay and it’s working.
Crazy stuff, but been good to see. Not so depressing to watch as it has been for the last 8 years.
Posted by ipso facto
@ 9:39 on January 24, 2020
Posted by Richard640
@ 9:35 on January 24, 2020
Posted by Richard640
@ 9:29 on January 24, 2020
have to look know further can ones daily cup-O-java=2-3-4 bucks a cup–remember in the 40s when a cup and a sinker were one thin dime? I do…cause I seen my Dad order same…
Buygold–wow!! Nice pop in silver…that is a diagostic clue/Vesuvian tremor…we forget that gold at 1550-60 today didn’t require the trip down to 1350-1450 that all the anal-Lists said had to be visited first..
Posted by Buygold
@ 9:18 on January 24, 2020
somehow though I suspect we’ll get another shot at it before this day is over.
What they don’t want is silver screaming higher out of the gates and pulling gold with it, that might imply that this 100 pt. DOW rally is in jeopardy… LOL 🙂
I’m looking for 235 HUI to finally fall today for the last time, course I’ve been looking for that for awhile now.
Posted by ipso facto
@ 8:44 on January 24, 2020
We’ve got more posters in the poll now and it sure is a lot more than 10% lefty.
I don’t want to say bad things about your grandparents but what they did is appalling! I sure hope people don’t still physically abuse infants and “tie down their left hands” etc to try to force them to be right handed. It’s straight out of the Middle Ages!
Cheers
Posted by Buygold
@ 8:43 on January 24, 2020
Nice, about time. Hopefully we can make our way back above $18.
Posted by Buygold
@ 8:25 on January 24, 2020
You mention JNUG – the pm shares haven’t been buying any of the action in the metals lately, with a few exceptions mostly in some of the silver shares the rest of them have held up great.
London has done their job in keeping the metals down all night, now it’s up to the Crimex.
Posted by goldielocks
@ 8:05 on January 24, 2020
They don’t care about deficits as far as how they’re going to pay for it but how “ we’re” gonna pay for it. Price inflation and increasing taxes. Now Trump is talking about another tax cut to middle class. Is he dumping their printing press debt back on them? This might get interesting but hope there’s no price inflation again by the vultures helping the other vultures who printed it. Yikes
Posted by Richard640
@ 7:54 on January 24, 2020
Posted by Richard640
@ 7:49 on January 24, 2020
could be an interesting day—The 10 yr note isn’t buying the euphoria in u.s. and european stocks
https://futures.tradingcharts.com/marketquotes/ZN.html
10 yr note
Posted by Richard640
@ 7:39 on January 24, 2020
Posted by Buygold
@ 7:29 on January 24, 2020
although silver’s up a couple cents with gold down a couple bucks
Time for silver to play some catch up anyway
SM can never go down, definitely the lesson learned yesterday, saved from down 200 twice to starting up a 100 this am, pretty incredible.
Off topic – Trump is speaking at the pro-life march today which I think is great, he’s the first president to do it, but I have an uneasy feeling about it. I hope he’s well protected.
Posted by Richard640
@ 7:26 on January 24, 2020
Posted by Richard640
@ 7:21 on January 24, 2020
And, this brings us full circle to the reality of the past decade: credit binges are always popular because while the benefits of leverage come today, the costs of bad debt come tomorrow. Improving a business or learning a skill requires dedication and hard work. Monetary “stimulus” offers a siren like promise of effortless prosperity yet ignores the reality that credit binges always sow the seeds of their future destruction.
If this sounds a tad abstract, consider September 15 last. On that day, the normally dull as dishwater overnight repo lending rate soared to an astonishing 10% annualized rate. A shocked Fed felt compelled to “do something,” which these days invariably means adding still further to the pool of loanable funds. The size of the add (via the Fed’s T-bill purchases and expansion of its repo facility) has been nearly a cool half-trillion, well over half of the total size of the Fed’s pre-crisis balance sheet. The Fed justified adding this tidal wave of liquidity notwithstanding its characterization that what happened was a mere “technical” glitch in the repo market. Technical, really? A practical take is that the market is talking to the best and brightest minds in central banking, and the Fed doesn’t like what it’s hearing: the repo market wants to clear at rates above the Fed’s IOER fiat rate, which, if allowed to do so, would likely invert the front-end of the yield curve. Inverting curves sounds a bit too much like ending a credit binge, leading to recession, and so the Fed’s response function is to “veto” (Latin for “I forbid”) the market’s signal. Now, who’s fooling whom?
And, so the Fed continues to continue to pretend the cycle need never end. But markets will be what they must be, and investors must face the consequences of the last decade’s credit binge…tomorrow.
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