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It's The US Day-Session, Do You Know Where The Precious Metals' Selling Orders Are?

Tyler Durden's picture




 

Presented with little comment - but it's that time of the day again...

 

Some context...

 

Chart: Bloomberg

 

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Wed, 12/19/2012 - 10:44 | 3078413 semperfi
semperfi's picture

sweet!  means I can exchange my fiat for MOAR metal !

Wed, 12/19/2012 - 10:50 | 3078429 Killtruck
Killtruck's picture

Taking profits to the gun shop. </sarc>

 

Edited: forgot my sarc tag.

Wed, 12/19/2012 - 11:15 | 3078583 Max in St Moritz
Max in St Moritz's picture

 

 

I'm not sure how much longer the "Oh, Great... metals are cheaper again today....BTFD" meme will continue to work.  Seems like everyone over at TFmetals is on suicide watch. 

Sprott has been doing several YouTube videos telling everyone that there's a shortage in physical gold out there. Anyone know why he's switching from silver "shortages" to gold "shortages"?  

http://www.youtube.com/watch?v=gk600gFnlrk

Wed, 12/19/2012 - 11:51 | 3078737 LawsofPhysics
LawsofPhysics's picture

Then you don't understand why people hold physical.  It isn't an investment, it's a safe store of value and puchasing power with no counterparty risk.  You buy it during the "good time" when the fiat system has at least some rule of law.  You do this as insurance so that when corruption, fascism and fraud become the status quo, you are protected. 

Wed, 12/19/2012 - 11:50 | 3078740 dwayne elizando
dwayne elizando's picture

I take any analysis with a grain of salt. In the end I use the real world to try and guage it. I know plenty of people who live off the system, plenty of people who have a 401k, more cops than ever before and very few people I know take gold seriously. Many of the baby boomers I know only look at stocks for "wealth preservation". I'll take gold at this point even if it's gonna go down for another six months.

Wed, 12/19/2012 - 12:27 | 3078896 GubbermintWorker
GubbermintWorker's picture

Buy it, bury it, and relax.

Wed, 12/19/2012 - 14:36 | 3079565 Esso
Esso's picture

Yeah, but is anyone actually selling at these prices, or are they all "Out Of Stock"?

Wed, 12/19/2012 - 11:53 | 3078751 CPL
CPL's picture

Count the mines not on strike over the last eight months and you have your answer.

Count the gold bars shipped with tungsten and you'll have your answer.

 

The symptoms are telling of the situation of availability.

Wed, 12/19/2012 - 12:59 | 3079037 Mugatu
Mugatu's picture

Everyone always acts like finding tungsten filled gold bars is a sign of the coming apocalyse.  I am a gold bug, but a percentage of virtually every valuable item includes fakes.  A percentage of every $100 bill are fakes.  A percentage of every gucci bag are fakes.  A percentage of every diamond on your average housewife are fakes.  

This is not news.  There will always be a percentage of fakes in every item, but through the history of time the fakes never hit a large enough percentage to destroy the confidence of the population.  

Buy gold because it makes you feel safer, not because you think tungsten filled bars are everywhere.

Wed, 12/19/2012 - 11:58 | 3078774 fuu
fuu's picture

I wrote a song for you but you weren't around long enough to appreciate it.

Max Fischer's Theme: http://www.youtube.com/watch?v=5AcJCzb_beQ

Wed, 12/19/2012 - 12:27 | 3078895 Element
Element's picture

Nope, look at the early 1980s, gold skyrocketed when Savings and Loan crisis/problem/fraud-scandle got rolling.

When you have financial uncertainly and Fiat questionability, gold is going to be on a rising trend.

Nothing has been resolved, but instead made increasingly more supportive of NET rising trend in PMs. Gold may fall back, of course it will, but the trend is going to be NET upwards, while QE and CB printing to save the 'financial' fraud system remains in place, as the fiat is debased.

Wed, 12/19/2012 - 12:46 | 3078981 tmosley
tmosley's picture

>Implying silver investors aren't used to 60% "no reason" drops.

Wed, 12/19/2012 - 12:50 | 3079013 Silver Bully
Silver Bully's picture

"Seems like everyone over at TFmetals is on suicide watch. "

Correct, because that site started out as a precious metals trading news site. Despite the forums and protests otherwise, Turd's site has always been primarily focused on metals trading. If his viewers were truly concerned with 'buying gold and silver as insurance' NO ONE would be wailing and gnashing their teeth like they are this week. It would be a moot point. Turd's problem is he's trying to sell a trading service, and his prognostications have been WILDLY, REPEATEDLY off the mark, short term. Its no wonder the trolls are having a field day - they're traders looking for good info to make a buck on, not buy 'insurance'.

Still, he offers good commentary on the market and he has kitco's prices listed, so its an easy bookmark.

That said, when a retail market gets this publicly distraught, that seems like a basic contrarian indicator.

Wed, 12/19/2012 - 13:54 | 3079366 Bohm Squad
Bohm Squad's picture

Meanwhile on Ebay, physical silver still selling for $38-$40 per ounce delivered....

I believe the word missing from your post Max is "decoupling"...but what's a 25% premium for physical over paper between friends?

Wed, 12/19/2012 - 11:50 | 3078732 AvoidingTaxation
AvoidingTaxation's picture

A new Banzai is born?

Wed, 12/19/2012 - 10:56 | 3078502 Lohn Jocke
Lohn Jocke's picture

Monopoly money is increasing in value and printers too busy pumping out USD.

Wed, 12/19/2012 - 11:03 | 3078537 somecallmetimmah
somecallmetimmah's picture

Dumping it in a slot machine might be a better investment.  If you waited thru two Obama elections  & Joe Biden's  designation as 'Gun Tsar' to buy a firearm, don't even bother.

Wed, 12/19/2012 - 10:48 | 3078440 Eireann go Brach
Eireann go Brach's picture

Could someone explain why this happens at the opening all the time?

Wed, 12/19/2012 - 11:10 | 3078578 somecallmetimmah
somecallmetimmah's picture

Markets open, the daily news cycle starts, the 'light turns green' & something changes.

Wed, 12/19/2012 - 10:50 | 3078455 slaughterer
slaughterer's picture

Warned about this PM sell-off last week.  I hope at least one of you is also shorting it.  

Wed, 12/19/2012 - 10:53 | 3078474 WhiteNight123129
WhiteNight123129's picture

SHorting the treasuries, and having some fun.

Wed, 12/19/2012 - 10:56 | 3078496 The Axe
The Axe's picture

Maybe you should show those Asia sessions...2 or 3 down 30 dollar deals   Gold is cracking  

Wed, 12/19/2012 - 10:58 | 3078506 Spastica Rex
Spastica Rex's picture

Yep - good call!

Wed, 12/19/2012 - 10:58 | 3078510 Short Memories
Short Memories's picture

nope! only touch physical and to short it is to lose it :)

Wed, 12/19/2012 - 10:59 | 3078514 ssp2s
ssp2s's picture

With Japan beginning to print in earnest, they have to keep PMs in check.  I'd say it is time to straddle.

Wed, 12/19/2012 - 10:56 | 3078497 Alpo for Granny
Alpo for Granny's picture

I would love to see a Santelli rant on CNBS about the blatant manipulation in the precious metal market. I would also love a stable full of skittle shitting unicorns.

Wed, 12/19/2012 - 11:18 | 3078601 azzhatter
azzhatter's picture

I do know where my metals are, sitting right next to me

Wed, 12/19/2012 - 13:33 | 3079230 BoNeSxxx
BoNeSxxx's picture

You are a lucky man... 

I lost mine.  Last time I saw them they were in my tackle box.

Wed, 12/19/2012 - 12:54 | 3079026 Lin S
Lin S's picture

I am thinking about buying from APMEX, but want to ask you guys about it first.

If I buy from them, can't .gov track my purchases at a future date if they choose to do so?

Should I avoid gold maple leaf and Kruggerands since they are reportable?

Thanks for any info/help...

 

 

Wed, 12/19/2012 - 13:45 | 3079307 Moronicgenius
Moronicgenius's picture

I don't own any PMs myself, but someone told me you should make friends with a local dealer, see if they'll do a cash deal, off the books of course.

Wed, 12/19/2012 - 14:51 | 3079621 BoNeSxxx
BoNeSxxx's picture

Reporting changes happen fast.

eBay sometimes has good buys.  Also, I have had luck at local auctions and gun shows... lots of PMs avaiable for $$$ and no trail.

Wed, 12/19/2012 - 15:04 | 3079661 Esso
Esso's picture

You might want to look here: https://www.texmetals.com/sell-gold-coins/

Personally, American coins make me a little nervous. If TSHTF, they could declare them US property or something, and make possession illegal. Who knows? Also the no reporting requirements on Eagles could be erased at a whim.

Disclaimer: I've got no skin in the game. All my gold, silver and guns were lost when my plane crashed into the ocean. I think I was flying over the Marianas Trench at the time.

Wed, 12/19/2012 - 15:15 | 3079740 Lin S
Lin S's picture

Thanks for the information, guys.  I sincerely appreciate your help!

Wed, 12/19/2012 - 10:44 | 3078415 Theta_Burn
Theta_Burn's picture

Unlimited printing spree in Japan....ans soon to be unlimited in the US...this completely makes sence

Wed, 12/19/2012 - 11:25 | 3078630 GittyUP
GittyUP's picture

Printing doesnt always equal dollar devaluing.  If you understand how money gets destroyed during deflation you would understand how printing doesnt always increase the total fiat available. 

Of course its a slippery slope and could lead to massive inflation and devaluation.  My point is its not as simple as "they are printing so the dollar must be worth less!"

Wed, 12/19/2012 - 11:58 | 3078778 yrbmegr
yrbmegr's picture

Correct.  Inflation is caused by an excess of purchasing power, in all its forms.  Fiat is one among many forms of purchasing power.

Wed, 12/19/2012 - 10:46 | 3078420 achmachat
achmachat's picture

sorry guys,

we're out of the real thing.

better luck next time!

Wed, 12/19/2012 - 10:49 | 3078448 semperfi
semperfi's picture

tungsten still in stock

Wed, 12/19/2012 - 16:32 | 3080054 Panafrican Funk...
Panafrican Funktron Robot's picture

http://www.moneymorning.com.au/images/mm20121009a.jpg

Tungsten is actually in very short supply. 

Wed, 12/19/2012 - 10:45 | 3078423 malikai
malikai's picture

It's always a good time to sell shitloads of gold and silver contracts. But it's a better time at the open.

Wed, 12/19/2012 - 10:46 | 3078425 HoofHearted
HoofHearted's picture

With JPM and Citi, naked as can be.

Wed, 12/19/2012 - 10:50 | 3078458 GMadScientist
GMadScientist's picture

Some find it difficult to estimate exactly how much of each commodity they don't have.

Wed, 12/19/2012 - 12:43 | 3078974 youngman
youngman's picture

I have been watching the Comex and a lot of the metals are leaving the JPM vault.....one wonders...

Wed, 12/19/2012 - 10:45 | 3078428 imaginalis
imaginalis's picture

Sell orders of phantom gold and silver

Wed, 12/19/2012 - 10:46 | 3078430 Silver Garbage Man
Silver Garbage Man's picture

This will go on till the physical is gone.

Wed, 12/19/2012 - 10:46 | 3078431 Comay Mierda
Comay Mierda's picture

how is spot price determined?  i keep reading articles of how the US mint is selling out of PMs then I watch the markets and they are getting slammed.

Wed, 12/19/2012 - 10:52 | 3078469 agent default
agent default's picture

They don't sell metal.  They sell futures which are again bought by the issuers when near maturity, because most of the market participants are on margin and don't really want the metal anyway. It's a scam driven by the market makers and greedy and stupid as fuck speculators who lever themselves to hell and as a result put automatic stop losses very close to their entry price.  It takes minimum effort to trigger a sell off under these conditions.

Wed, 12/19/2012 - 10:46 | 3078432 unwashedmass
unwashedmass's picture

 

have to say, this is one of the best christmas presents ever.........thank you ben for the red carpet ride out of the looming dollar meltdown....

thank you with all of my heart......

Wed, 12/19/2012 - 10:46 | 3078433 Jason T
Jason T's picture

Armstrong has been pounding the table that gold is not ready to break out.. but it will.  April 2013 could be turning point.  

Wed, 12/19/2012 - 10:50 | 3078446 rubearish10
rubearish10's picture

Oh, April? Okay, at least there's time.

Wed, 12/19/2012 - 10:48 | 3078442 toady
toady's picture

Hammer time!

Wed, 12/19/2012 - 10:52 | 3078473 semperfi
semperfi's picture

don't forget the sickle

-B.H.O.

Wed, 12/19/2012 - 11:02 | 3078534 GMadScientist
GMadScientist's picture

You didn't build this!

Wed, 12/19/2012 - 10:50 | 3078452 realtick
realtick's picture

CFPGH Public Signals - Short Gold Since Mid September

http://chartistfriendfrompittsburgh.blogspot.com/2012/12/cfpgh-public-si...

Wed, 12/19/2012 - 10:51 | 3078456 Dr. Gonzo
Dr. Gonzo's picture

I was on the fence but now I'm calling California Numismatic as soon as the open to buy. 

Wed, 12/19/2012 - 10:51 | 3078460 Theos
Theos's picture

Investing in myself to keep the paper flowing.

Storing it in a real currency.

 

Feels good man.

Wed, 12/19/2012 - 10:53 | 3078472 Shell Game
Shell Game's picture

A sweet day it will be when we can take them behind the woodshed...

Wed, 12/19/2012 - 10:53 | 3078475 punxsutawney phil
punxsutawney phil's picture

GOLD in RUPEE broke the 100 day mov avg.  Shit goin' lower.  India is buyer of 33% of world gold each year

Wed, 12/19/2012 - 10:53 | 3078476 buzzsaw99
buzzsaw99's picture

blatant manipulation [/sarc.]

Wed, 12/19/2012 - 10:53 | 3078479 rubearish10
rubearish10's picture

ES turns red. Must be "no deal", at least for a minute or two, so cash out.

Wed, 12/19/2012 - 10:59 | 3078515 GMadScientist
GMadScientist's picture

You do the hokey pokey and you shake it all about...

Wed, 12/19/2012 - 10:54 | 3078482 JustPrintMoreDuh
JustPrintMoreDuh's picture

Attention sheep.  Thou shall not place thy faith in rare shiny metals.  Thou shall place thy faith in Federal Reserve Notes.  Resume consumption.  That is all.

Wed, 12/19/2012 - 11:00 | 3078520 buzzsaw99
buzzsaw99's picture

goldbugs were smug when gold outstripped oil more than 2-1.

goldbugs were smug when paulson, soros, and the pension funds jumped on board.

goldbugs were smug even when the jewelers, miners, and other commodities started to crater

now gold is barely off the recent highs and they are screaming foul because someone is selling even though there is more refined gold on earth now than when they bought in and the oil which sold back then is gone, gone, gone.

smug bug know it alls.

There are three kinds of men. The one that learns by reading. The few who learn by observation. The rest of them have to pee on the electric fence for themselves. Will Rogers

Wed, 12/19/2012 - 11:04 | 3078545 darteaus
darteaus's picture

The rest of them have to pee on the electric fence for themselves.

OK, now I know why it hurts when I pee.  Thanks.

Wed, 12/19/2012 - 11:45 | 3078711 Bay of Pigs
Bay of Pigs's picture

What kind of a fucktard are you when it comes to gold anyway?

Smug? That's why people buy and hold gold? To feel smug? Haha...

Wed, 12/19/2012 - 11:54 | 3078758 kliguy38
kliguy38's picture

Just another moron that believes his own bullshit. Most people that have traded gold for years know the real game and its just accumulation of actual physical right now....the rest is all smoke

Wed, 12/19/2012 - 11:58 | 3078772 buzzsaw99
buzzsaw99's picture

laugh my ass off

Wed, 12/19/2012 - 11:57 | 3078764 buzzsaw99
buzzsaw99's picture

Orly: Gold is a risk asset that is quickly losing its lustre.

Bay of Pigs: Risk asset? In a 12 year bull market? Put the crack pipe down Orly.

Wed, 12/19/2012 - 12:13 | 3078834 Bay of Pigs
Bay of Pigs's picture

And it is you stupid fuck. Can you read a chart?

 

Wed, 12/19/2012 - 12:48 | 3079001 tmosley
tmosley's picture

Religious zealots don't know the meaning of the word "secular".

Wed, 12/19/2012 - 10:54 | 3078486 q99x2
q99x2's picture

Hasn't done much today. Gold down a buck. Stocks not up much. CNBC trying to plow sheeple into the market. Might be getting close to time GS does its fleecing.

Wed, 12/19/2012 - 10:55 | 3078494 DowTheorist
DowTheorist's picture

Well, this is obvious manipulation.

However, manipulation itself leaves traces on the charts. If gold or silver go down because there is naked short selling, I agree this is manipulation, but, nonetheless, they go down and the losses to those stubbornly long with no staying power (or not in physical for the very long pull) are very real.

If the plunge protection team is buying S&P futures to prop up the market, this is manipulation but the charts will be rightly bullish.

Tools like the Dow Theory have a too long track record to be dismissed out of hand, and it happens to work even under manipulated markets.

Of course, we have to know the waters we are treading in, and we shouldn't be technical fools but good investors. If we feel a manipulated market may explode in our face, we'd better leave it alone, all the technical signals notwithstanding. With precious metals, here is where physical plays a role.

 

Thus, due to manipulation, the fact is that stocks are very close to flashing a primary bull market signal.

 

Conversely, gold and silver are very close to signaling a primar bear market signal.

 

More about both signals here:

 

http://www.dowtheoryinvestment.com/2012/12/dow-theory-update-for-dec-18-...

 

Wed, 12/19/2012 - 11:06 | 3078556 agent default
agent default's picture

Meanwhile, the real metals are literally flying off the shelves to Asia, signaling the beginning of an end game market for the paper pushers.

Wed, 12/19/2012 - 19:51 | 3080816 DowTheorist
DowTheorist's picture

Very true. GLD is for traders. Secular, long term investors, should favor physical.

 

http://www.dowtheoryinvestment.com/2012/10/not-all-gold-is-born-equal-go...

Wed, 12/19/2012 - 10:56 | 3078503 scatterbrains
scatterbrains's picture

I would guess the best time to be buying or adding is sometime between when Oblamo sends us over the cliff and before the Bernank redoubles his printing efforts because of it.

 

Wed, 12/19/2012 - 11:08 | 3078567 LawsofPhysics
LawsofPhysics's picture

Riiiiggghhht.  Is there a CDS on the Federal Reserve Bank (aside from physical PMs of course)?

Wed, 12/19/2012 - 10:58 | 3078507 LawsofPhysics
LawsofPhysics's picture

Looks like another compression trade to me.  Just saying, paper gold falling alone with treasuries cannot be sustained, yields cannot go much higher (although there is some room here).  Go ahead, let the yields on treasuries keep going up, I dare you Mr. "Man of the year".  

Wed, 12/19/2012 - 11:04 | 3078544 Snidley Whipsnae
Snidley Whipsnae's picture

Exactamente! The manoyear cannot let yields on Ts move much to the upside or it's toast time for the world financial system.

We are watching a little head fake in Ts/bonds and then it will be PMs to the moon.

We have yet to see a real flight to safety because we have yet to see real fear. I mean the 'christ, I'm gonna lose everything' kind of fear.

Stand by.

Wed, 12/19/2012 - 11:06 | 3078561 LawsofPhysics
LawsofPhysics's picture

Going to be tough disarming the populace before that "'christ, I'm gonna lose everything' kind of fear." sets in.  The financial system cannot break until then.  Could be a while.

Wed, 12/19/2012 - 10:58 | 3078508 GMadScientist
GMadScientist's picture

Wake me up when it hits $1400 and silver is $25 again...I'll have the truck idling in reverse.

Wed, 12/19/2012 - 11:03 | 3078539 LawsofPhysics
LawsofPhysics's picture

turn off the truck, save a little fuel to sell to the unwashed masses for their petro-bottles later.

Wed, 12/19/2012 - 11:16 | 3078591 GMadScientist
GMadScientist's picture

It's the little metaphorical biodiesel rig in my head that backs up when I go to APMEX. ;)

"This machine runs on bankers."

Wed, 12/19/2012 - 12:56 | 3079043 MeelionDollerBogus
MeelionDollerBogus's picture

1550 and 29. Fixed it for you. Average into it now. You'll have 5 weeks tops.

Wed, 12/19/2012 - 10:58 | 3078509 Seasmoke
Seasmoke's picture

They can shake the tree as many times as the fuckers like , but I'm not falling as I am chained to this silver tree for life.

Wed, 12/19/2012 - 10:59 | 3078513 Winston Churchill
Winston Churchill's picture

BTFD.

Gold or Fiat.

In the end there can only be one.

We all know which it is.

Wed, 12/19/2012 - 11:55 | 3078761 CPL
CPL's picture

“Paper money eventually returns to its intrinsic value – zero.” (Voltaire, 1694-1778)

Wed, 12/19/2012 - 10:59 | 3078516 Bay of Pigs
Bay of Pigs's picture

This happened last December too. Gold was hammered from 1752 (12/1/11) to 1531 (12/29/11). It ended the year at 1574.

Silver was bombed from 33.28 to just over 26.16 (28 year end).

These evil Bankster fucks have no shame at all. Not even at Christmas time.

Wed, 12/19/2012 - 11:03 | 3078543 GMadScientist
GMadScientist's picture

Thankfully, neither do I.

Thank you Jesus Claus!

Wed, 12/19/2012 - 11:20 | 3078610 francis_sawyer
francis_sawyer's picture

I've said it for a long time now... Year end bonus checks in arrival... Hammer the paper ~ go out & treat yourself to a little physical...

I hope they don't treat their hookers & coke dealers this way... 

Wed, 12/19/2012 - 11:37 | 3078676 ParkAveFlasher
ParkAveFlasher's picture
Burl Ives
Silver And Gold lyrics Songwriters: JOHNNY MARKS Silver
Silver and gold
Silver and gold
Silver and gold
Ev'ryone wishes
For silver and gold
How do you measure
It's worth?
Just by the pleasure it
Gives here on Earth
Silver and gold
Silver and gold
Mean so much more
When I see
Silver
And gold decorations
On ev'ry Christmas tree
Silver, silver and gold
Silver, silver and gold
Silver and gold

Silver and gold
Silver and gold
Wise men brought gifts
To the manger I'm told
Mary was humble to see
Shepherds and kings
There on bended knees
It's silver and gold
Silver and gold
Feeling the world
With their lives
Silver and gold
How they shimmer
On ev'ry Christmas night
On ev'ry Christmas night

Silver
Silver and gold

Wed, 12/19/2012 - 10:59 | 3078517 Snidley Whipsnae
Snidley Whipsnae's picture

Paper gold blizzard again... So what's new?

The propagandists are working overtime to convince the sheeple that to invest in PMs is to be doomed.

Truth is, when the paper gold blizzard ends, and it will, those sitting on phiz will be the last solvent people standing.

Merry Christmas and thank you Ben!

Wed, 12/19/2012 - 11:57 | 3078771 CPL
CPL's picture

Until china revises margin downwards again to protect it's investment.

 

Who looks at US markets for commodities anymore anyways?  I wouldn't if you want to keep your money in your pocket.

Wed, 12/19/2012 - 11:00 | 3078518 Dr. Gonzo
Dr. Gonzo's picture

I love it when people get tied in knots over a decision to save in silver (which they aren't quite sure is worth a full $31.75) or to save in an irredeemable intrinsically worthless currency that's under the stewardship of dishonest men with no credibility and yields .25% at their banking institution which may or may not be solvent. It's funny. It really is.

Wed, 12/19/2012 - 11:07 | 3078563 Mr. Hudson
Mr. Hudson's picture

Everytime gold drops, silver hesitates to follow.

Wed, 12/19/2012 - 12:54 | 3079028 MeelionDollerBogus
MeelionDollerBogus's picture

Scatterplots say otherwise.

Wed, 12/19/2012 - 11:10 | 3078577 edifice
edifice's picture

What bank pays 0.25%? Sign me up...

Mine pays 0.01%

Wed, 12/19/2012 - 11:59 | 3078784 yrbmegr
yrbmegr's picture

Some banks pay negative interest rates now.  People just don't realize it.

Wed, 12/19/2012 - 10:59 | 3078521 CrimsonAvenger
CrimsonAvenger's picture

I don't always manipulate the commodities market. But when I do, I manipulate gold and silver.

Wed, 12/19/2012 - 11:30 | 3078651 moonman
moonman's picture

Stay physical my friend

Wed, 12/19/2012 - 11:00 | 3078522 Silver Garbage Man
Silver Garbage Man's picture

My money's on silver being Inanimate "Thing Of The Decade"

Wed, 12/19/2012 - 11:00 | 3078524 jmcadg
jmcadg's picture

It's only down less than $4. Come on, I want a fuckin' waterfall.

Wed, 12/19/2012 - 11:59 | 3078777 CPL
CPL's picture

Nothing physical for sale at the brokers that can be delivered in eight months...with a big maybe on that sentence.

Wed, 12/19/2012 - 11:02 | 3078533 Paper CRUSHer
Paper CRUSHer's picture

 "In addition the $USD is weakening which generally pushes gold prices lower".........said the son o' a bitch

Wed, 12/19/2012 - 11:40 | 3078689 Al Huxley
Al Huxley's picture

December 19th is a Wednesday this year, and gold has a history of dropping in December in years when the 19th is on a Wednesday.  There's a forecast for light rain in Tulsa Oklahoma today - gold has a history of dropping on dates in December that end in 9 if there's a chance of rain in Tulsa.

Wed, 12/19/2012 - 12:52 | 3079019 MeelionDollerBogus
MeelionDollerBogus's picture

given the typical days when options expire there may be more truth to the 9's than you intended :D

Wed, 12/19/2012 - 11:03 | 3078535 marginview
marginview's picture

same old clueless hedge - use the 'that time of day again' & 'presented without comment' rhetorical techiques to pretend knowledge. Why not a 'gold to go hyperbolic' comment or a long report from the desperate for wealth but unfortunately without talent members of goldcore?

Wed, 12/19/2012 - 11:04 | 3078550 tuttisaluti
tuttisaluti's picture

is gold front running the stock market?

Wed, 12/19/2012 - 11:18 | 3078602 GMadScientist
GMadScientist's picture

JPM. Selling "sweet nothings" to fund front-running the Fed.

 

Wed, 12/19/2012 - 11:04 | 3078552 mdtrader
mdtrader's picture

89 Week MA at $1659. It's time for the gold bulls to show themselves.

Wed, 12/19/2012 - 11:13 | 3078590 adr
adr's picture

My calendar says it is Dec 2012, but that can't be right. It feels just like Dec 2011. The banks are skyrocketing, gold is being hammered down. Washington is supposed to pass legislation in the middle of the night before Jan 1.

Can someone please hit the loop button, someone forgot to turn it off four years ago.

Wed, 12/19/2012 - 12:49 | 3078999 MeelionDollerBogus
MeelionDollerBogus's picture

rate of change ROC for 277 weeks and 52 weeks. LOOK at those patterns. One is nearly a straight across trend-channel the other is a triangle-wave like in signals processing (one exception skipping a dip). Just blatantly repeating past years' chart activity

Wed, 12/19/2012 - 11:14 | 3078592 Nostradalus
Nostradalus's picture

Hi Kids! New kid on the block here.... Can I play?

 

Wed, 12/19/2012 - 11:19 | 3078605 GMadScientist
GMadScientist's picture

<smack>

Oh, I should've mentioned we're playing "Nazi".

Wed, 12/19/2012 - 11:28 | 3078641 buzzsaw99
buzzsaw99's picture

the new kid has to go over to robotrader mom's house and ask if robo can come out of the basement to play

Wed, 12/19/2012 - 11:47 | 3078721 GMadScientist
GMadScientist's picture

and for fuck's sake, make sure robotard has his diaper on if she says yes.

 

Wed, 12/19/2012 - 11:18 | 3078603 dolph9
dolph9's picture

This sucker (the financial system) is going down, there's no two ways about it.

Gold has real value, dips should be seen as opportunities to get in, if you can.

I'm not 100% sure what will happen going forward, but gold will most likely continue to do better than everything else, as it has for the past 12 years.

Wed, 12/19/2012 - 12:46 | 3078987 MeelionDollerBogus
MeelionDollerBogus's picture

A permanent revaluation jump up from high interest rates or restoring a gold standard in any nation will lock us out of future gains for a generation. Gains will be there for holders but for late-comers it will be over. The next 5 years will probably be the last best hurrah then all bets are off.

Wed, 12/19/2012 - 11:33 | 3078653 Bansters-in-my-...
Bansters-in-my- feces's picture

Just stopped byto say Fuck Yous Central bankers....

 

Fucking terrorist.

Wed, 12/19/2012 - 11:36 | 3078665 Stuck on Zero
Stuck on Zero's picture

Are people selling gold to buy iPads for their kids?

 

Wed, 12/19/2012 - 11:49 | 3078729 GMadScientist
GMadScientist's picture

This is the Hamptons; they're selling gold to pay other people to take care of their kids so they can masturbate with their iPads.

 

Wed, 12/19/2012 - 12:23 | 3078884 viahj
viahj's picture

GI Joe with the kung-fu grip.

they're panicking out there, I can feel it

Wed, 12/19/2012 - 14:39 | 3079581 Sweet Chicken
Sweet Chicken's picture

Great reference +1

Wed, 12/19/2012 - 11:39 | 3078679 Smuckers
Smuckers's picture

I wish Bart would take a break from manipulating himself so he can see how Dimon is manipulating silver.

I buy physical.  JPM can go manipulate themselves too.  Fkers.

Wed, 12/19/2012 - 11:45 | 3078713 Canadian Dirtlump
Canadian Dirtlump's picture

Bart Chiltdung, the blond adonis, is far too busy listening to 1970s and 1980s LPs to buck up on his musical references so he can quote obscure rock songs in interviews to try to be hip.

 

Bart either plays along with the game or he'll wind up like vince foster, committing suicide by shooting himself in the back of the head a few times with his wrong hand, with a gun made up of 2 guns with no serial number.

Wed, 12/19/2012 - 11:43 | 3078708 bnbdnb
bnbdnb's picture

Buy gold in USD, sell in JPY.

Wed, 12/19/2012 - 11:49 | 3078731 gookempucky
gookempucky's picture

For eons I'll shine like the sun,

men say

no matter

what time of day.

From deep within ground,

with mud all around

mans lust for me just has

no bounds.

 

Dig Deep My Friends

Signed

The worlds most interesting element

 

 

Wed, 12/19/2012 - 11:53 | 3078748 The Miser
The Miser's picture

Buy before the Democrats do this to you.

http://www.dailyjournal.net/view/story/70ca03bdabfa49379067ad96a3c9b3c7/IN--Gold-Buyers/

All in the name of controling stolen gold. 

Wed, 12/19/2012 - 12:40 | 3078961 MeelionDollerBogus
MeelionDollerBogus's picture

all the more reason not to hold gold, or live in, the USA.

Wed, 12/19/2012 - 12:01 | 3078791 Quinvarius
Quinvarius's picture

My thesis is bullish.  Same reason as stocks last month.  You have to buy it.  Markets move on easy money and easy credit.  They tried to beat on the S&P.  Now they are going to get ripped trying to beat on gold.  You do not short this environment. 

Wed, 12/19/2012 - 12:36 | 3078950 MeelionDollerBogus
MeelionDollerBogus's picture

If you short using options but no margin, you'll probably do OK. Just think what a couple of GLD puts just barely in the money will do when gold hits 1600 or 1500. You can go long at the same time as a hedge. You can wait 5 weeks and then go long. Odds are very good. Keep an eye out for when GLD = 160 and be ready to get a GLD call just in the money for June or perhaps whatever's just before it (march, for now). Once gold exceeds 2200 or 2300/oz you'll be pocketing a nice amount of electrons for GLD over 200, over 210 possibly 220. Then you can load up on silver bars & coins with nary a worry about the spot+premium

Sun, 12/23/2012 - 01:36 | 3090895 MeelionDollerBogus
MeelionDollerBogus's picture

ooh, I got a -1 but no reply. Ok, how's this sound?

now or inside 4 weeks waiting for gold to drop, a GLD Call for june, strike 174.

You could get it for under 250 and once gold rises to 1800 to 2100 in March, maybe April, you could see GLD from 174 to 203. Now think about that. 203-174 is +29 in the money in March at 2100/oz. Think about that.

We're talking well in excess of 2500 per contract with a buy-in under 250 per contract.

Is that scary risk to you? Is it? It isn't to me. Currently I'm reading ask = 2.21 and bid = 2.15 for GLD C 22JUN13 174.00 and if gold slips to 1560, gld=151, we could see that bid & ask pair or something like it for GLD C 22JUN13 164.00. Now think about that. With a rise back to gld=203 starting at 164 you'd be +39 ITM. You would expect at least 3500 again paying 2.21 + applicable trading fees per contract.

Is $250 too big a risk for a trader per contract? Is it? Expires in june, sell it in march. Think about it. Still want to -1 that? Really?

But let's say you're a little more short-term than that, for the sake of argument. Right now GLD P 16FEB13 164.00 US is +3 ITM with GLD at 161 (close enough for this exercise). With a low to come in 4 weeks of 1560 to 1600 on spot, you could see GLD hit 151. Looking at MARCH prices, I see GLD P 16MAR13 154.00 with ask= 1.55 yet the Feb 164 put has bid= 5.20 with 30 days less time.

1 month.

So how risky is $170 or so on the table now, per contract, to re-sell for $500 in just 4 weeks? If you're expecting gold to drop inside 4 weeks that's a small price to pay to get some paper/electrons. If gold drops only 35/oz perhaps you stop at break-even, or perhaps you consider that's already the likely limit & refuse to play this game. Ok, but at least it's an interesting thought experiment.

Are people going to take "zero hedge" so literally they refuse to hedge any activity in the market, even gold using GLD? IT is still there, even if it will break later. You think it will break inside 4 weeks? Decouple from spot? Maybe bust before March? Really?

-1 if you must but at least counter-reply with a reasonable argument.

Wed, 12/19/2012 - 12:14 | 3078844 therealmonty
therealmonty's picture

The fuckers are just selling paper to knock down the price so they can buy phyical.  None of the fundamentals have changed, and none of the macro-economic problems have, or will ever, be fixed.  In the mean time, I just keep stacking, one or two ounces at a time, and waiting for the day when fiat goes the way of the dodo.  Didn't I hear on Max Keiser yesterday that BOTH gold and silver are in backwardation?  You tell me what that means.  TBTB want as much physical as they can, now.

Wed, 12/19/2012 - 12:19 | 3078867 Nostradalus
Nostradalus's picture

I have admired the intelligent reparte at ZH for quite awhile now.

 

Wed, 12/19/2012 - 12:23 | 3078880 orangegeek
orangegeek's picture

Gold is the lead market to fall - awaiting the US Dollar to climb - as unpopular as this sounds.

 

Euro, Pound and C-Dollar are all at near term highs.  Yen has already collapsed.  When these three turn back down - US Dollar rockets.

 

When US Dollar rockets, gold and markets will fall hard.

 

http://bullandbearmash.com/chart/gold-falls-early-recovers-close-margina...

Wed, 12/19/2012 - 13:55 | 3079369 LawsofPhysics
LawsofPhysics's picture

....and interest rates?  Good luck with that.

Wed, 12/19/2012 - 12:28 | 3078907 MeelionDollerBogus
MeelionDollerBogus's picture

You know, it's just occurred to me - if it is "that time of day" then perhaps a wise modeling decision would be to split hourly data from years to date, into hour-bins. A bin for 10am, 11am, etc., and to use a genetic algorithm or ANN on each series. THEN... reassemble the modeled future bins back into a full price list (and generate a chart). Honestly I can't think why I didn't think of that sooner.

Wed, 12/19/2012 - 13:15 | 3079143 DavidPierre
DavidPierre's picture

GATA's Bill Murphy & Chris Powell call out Gold and Silver Market Manipulation Conspiracy Critics


http://www.youtube.com/watch?v=omVd1dY2010&feature=player_embedded#!

Wed, 12/19/2012 - 13:19 | 3079165 jackinrichmond
jackinrichmond's picture

keep an eye on the silver open interest. 

Wed, 12/19/2012 - 14:02 | 3079400 Venerability
Venerability's picture

Not that anyone ever does anything about it, but . . .

It appears that fully one half - maybe more - of the Soi-Disant "Gold Shorts" now propagandizing at Seeking Alpha have come over from yet another of those disgusting Market Game contests at a major site.

It really is high time Regulators worldwide put the kibosh on these "contests," which can cause real-world havoc in real-world markets where actual humans risk actual money.

Seeking Alpha is now either so naive or so hell-bent on garnering SEO clicks it doesn't care that it has literally become overrun with Script Kiddies playing games.

True, anyone with good market antennae knows when the propaganda is veering into pure insanity - although that has never seemed to stop CNBC.

But these organized and sponsored baby "market games" are a pure disgrace at this point in the Internet's - and the Market's - evolution.

Somebody needs to step in and say Basta!

 

Thu, 12/20/2012 - 01:54 | 3081738 bilejones
bilejones's picture

"It really is high time Regulators worldwide put the kibosh on these "contests,""

You are, of course, insane,

It is "high time" that regulators stopped fucking around in the markets.

Wed, 12/19/2012 - 14:51 | 3079640 dogbreath
dogbreath's picture

leased gold was sold into the market and is being repurchased at lower prices to close the lease

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