Gold And Silver Inverse Slamdown

Tyler Durden's picture


It would appear that someone tripped and flipped the algo switch this morning as the ubiquitous morning slamdown has morphed into a take-off. Perhaps it is no coincidence that every Muppet's favorite banker (cough Goldman Sachs cough) opined on Gold's coming weakness yesterday and that hedge funds are the least exposed to the precious metals on record, which as everyone BUT Goldman knows, is the traditional signal that it is a time to buy. Actually we take that back: Goldman certainly knew it, which is why it has been urgently advising its clients to sell... To Goldman.


Your rating: None

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Tue, 02/26/2013 - 12:00 | 3277777 buzzsaw99
buzzsaw99's picture

Everything Harry tells you is a lie. Remember that.

Tue, 02/26/2013 - 12:02 | 3277790 flacon
flacon's picture

Op Ex is behind us. "Stop hunting" is behind us..... the metals are poised to go much higher. 


Tue, 02/26/2013 - 12:19 | 3277891 GetZeeGold
GetZeeGold's picture



When Muppets attack back.

Tue, 02/26/2013 - 12:22 | 3277903 AllThatGlitters
AllThatGlitters's picture

Yep, OpEx behind us and the metals go ballistic. Thanks to whomever pointed that out to me.

Check out silver going VERTICAL on the Live Spot chart:

Tue, 02/26/2013 - 12:41 | 3278004 DoChenRollingBearing
DoChenRollingBearing's picture

And just give gold and silver time...  The PMs are your best diversification against .gov and Fed malfeasance.

Tue, 02/26/2013 - 12:50 | 3278039 ParkAveFlasher
ParkAveFlasher's picture

Called it last week, bitchez.  Hope someone made some money.  As for me, I can only dream of trading because I lost my PMs in a boating accident quite some time ago.

Tue, 02/26/2013 - 12:54 | 3278056 HoofHearted
HoofHearted's picture

FND usually has some volatility associated with it, but next week we should see a real liftoff. 

Tue, 02/26/2013 - 13:08 | 3278095 gmrpeabody
gmrpeabody's picture

I just can't wrap my brain around it..., who would pay GS for their advice?

Tue, 02/26/2013 - 13:33 | 3278202 Silver Pullet
Silver Pullet's picture

I imagine that the people who PAY for their advice get different advice.

Tue, 02/26/2013 - 17:05 | 3279145 SilverRhino
SilverRhino's picture

This quarter screw gold and silver.   I've been buying powder, thousands of bullets and primers (and getting very good deals).   That stuff is like PGM's right now.   

Ammo is outrageous, for some reason the ingredients haven't caught up ... yet.  

1000% yields from 2004 to now are pretty good.   (2004: 5.56 $99/1000  2013: 5.56 $990/1000) 

Tue, 02/26/2013 - 12:26 | 3277925 ABG LINE
ABG LINE's picture


Tue, 02/26/2013 - 12:27 | 3277927 Sophist Economicus
Sophist Economicus's picture

These aren't muppets attacking.  These are muppets getting SQUEEEEEZED....

Tue, 02/26/2013 - 12:35 | 3277958 knukles
knukles's picture

Like I was once told by the Head of Sales at one of the Major Bulge Bracket firms; "You are nothing but inventory to (insert firm's name)"

Tue, 02/26/2013 - 12:36 | 3277966 knukles
knukles's picture

But then again, what was I even expecting?

Tue, 02/26/2013 - 12:48 | 3278036 ParkAveFlasher
ParkAveFlasher's picture

Rogue muppets!

Tue, 02/26/2013 - 12:26 | 3277918 AllThatGlitters
AllThatGlitters's picture

Flacon, are you the one that pointed out Opex to me the other day? If so, thanks!

Gold going straight up on the live spot chart:

Tue, 02/26/2013 - 12:37 | 3277975 Stoploss
Stoploss's picture


Tue, 02/26/2013 - 13:39 | 3278226 StychoKiller
StychoKiller's picture

Coins are quite good at rotation, being round and all! :>D

Tue, 02/26/2013 - 12:03 | 3277795 Xibalba
Xibalba's picture

it's tradition

Tue, 02/26/2013 - 12:26 | 3277921 Winston Churchill
Winston Churchill's picture

WTF ,the tradition is that when Ben speaks PM's go down.

Looks like the paper manipulators might have lost control.

Tue, 02/26/2013 - 12:30 | 3277942 Al Huxley
Al Huxley's picture

Check Friday's CoT reports - the paper managers cleared out the bulk of their short positions last week and transferred the short-side over to the speculators.  They're still in control, just now they're going to manage the price up for a while instead of down.

Tue, 02/26/2013 - 12:04 | 3277803 Skateboarder
Skateboarder's picture

I love asymptotes.

Tue, 02/26/2013 - 22:49 | 3280420 Long_Xau
Long_Xau's picture

Just wait for the discontinuities in the function.

Tue, 02/26/2013 - 12:10 | 3277835 Alpo for Granny
Alpo for Granny's picture

I love the smell of skewered muppet in the morning.

Tue, 02/26/2013 - 14:07 | 3278345 Boozer
Boozer's picture

Granny please scramble me some eggs with a side of muppet....pretty please.

Tue, 02/26/2013 - 14:22 | 3278403 Alpo for Granny
Alpo for Granny's picture

Get outta bed and make it yourself ya drunk.

Tue, 02/26/2013 - 12:23 | 3277904 EscapeKey
EscapeKey's picture

Some lies are richer than others

Bernanke: Exit strategy will not subsidize banks

and this is said merely DAYS after it was revealed that Bank of America received yet another back-door bailout.

Completely unashamed.

Tue, 02/26/2013 - 12:30 | 3277943 Henry Chinaski
Henry Chinaski's picture

Maybe it is true that the exit strategy will not subsidize banks, just nationalize them.

Tue, 02/26/2013 - 12:32 | 3277948 rqb1
rqb1's picture

The open interest in silver at multiyear highs w/ March open interest very high for just a few days left may cause Ben & Co. some sleepless nights. 

Tue, 02/26/2013 - 12:38 | 3277981 knukles
knukles's picture

Oh come on...

It's all just show for the Big Lie, anyway.

Tue, 02/26/2013 - 12:45 | 3278025 buzzsaw99
buzzsaw99's picture

He is only partially lying. There is no exit strategy.

Tue, 02/26/2013 - 15:37 | 3278674 Kirk2NCC1701
Kirk2NCC1701's picture

Bernanke: "Exit strategy will not subsidize banks"

Technically, that's correct.  In a Clintonesque sort of way. They won't be subsidizing many retail banks -- just the shareholders of the Fed itself (GS, JPM...).

Tue, 02/26/2013 - 12:00 | 3277778 jerry685
jerry685's picture

Not yet...but soon

Tue, 02/26/2013 - 12:00 | 3277780 greyghost
greyghost's picture

surely it was something the bearded wonder said

Tue, 02/26/2013 - 12:00 | 3277783 mayhem_korner
mayhem_korner's picture



Any chance Goldman an advance copy of Ben's QE 4Eva Senate speech?

Tue, 02/26/2013 - 12:05 | 3277807 Navymugsy
Navymugsy's picture

Ben's speech leaked? Boy are we cynical or what?

Tue, 02/26/2013 - 12:09 | 3277831 EscapeKey
EscapeKey's picture

got an advance copy?

what makes you think goldman didn't write it?

Tue, 02/26/2013 - 12:36 | 3277969 SafelyGraze
SafelyGraze's picture

Why would anyone want to own gold? It just sits there....

no reply needed

Tue, 02/26/2013 - 12:02 | 3277789 Dr Paul Krugman
Dr Paul Krugman's picture

Why would anyone want to own gold?  It just sits there....

Tue, 02/26/2013 - 12:05 | 3277808 Dr. Engali
Dr. Engali's picture

Funny thing happened to me over the past few years,.... my fiat lost a big portion of it's buying power and all it did was sit there...not doing a thing.

Tue, 02/26/2013 - 12:06 | 3277814 Dr Paul Krugman
Dr Paul Krugman's picture

Thus why you should be making proper investments.

Tue, 02/26/2013 - 12:08 | 3277827 McMolotov
McMolotov's picture

I've put everything I've got into Facefuck.

Tue, 02/26/2013 - 12:12 | 3277856 EscapeKey
EscapeKey's picture

Don't forget 3,500-pe ratio Amazon, and LinkedIn.

Such bargains.

Tue, 02/26/2013 - 13:13 | 3278115 BLOTTO
BLOTTO's picture

Oh, you mean the 'proper' investments the illuminati controlled main stream media tells us?

Tue, 02/26/2013 - 12:12 | 3277849 Temporalist
Temporalist's picture

Nice chart thanks!

Tue, 02/26/2013 - 12:16 | 3277871 ParkAveFlasher
ParkAveFlasher's picture

That chart makes me think that we are actually on a gold standard right now, whether the current body politic wants it or not.

Gold is flowing in the direction of added value.  China manufacturing adds value, thus gold flows there.

Tue, 02/26/2013 - 12:23 | 3277909 francis_sawyer
francis_sawyer's picture

According to the chart ~ China gets to par in less than 30 months [not accounting for what is or already has been emptied out of western vaults]...

Tue, 02/26/2013 - 16:27 | 3278722 Kirk2NCC1701
Kirk2NCC1701's picture

We got two clubs:  The Gold-member club and the Platinum-coin club .  The BRIC & friends are in the Gold club.  The Fed & Friends are in the Platinum coin club.  Both are vying for more members, using soft, hard and even Fricking* kinetic methods in their zero-sum game. 

* 'fricking...' = after Henry Frick

Tue, 02/26/2013 - 12:11 | 3277841 Dr. Engali
Dr. Engali's picture

That is similar to the same thing Corzine was spouting on CNBS before 1.6 billion dollars vaporized under his watch....but you knew that already. 

Do NOT follow this link or you will be banned from the site!