"Phase Shift" - JP Morgan Downgrades All Commodities To "Sell"

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Wed, 11/23/2011 - 09:33 | 1906291 Global Hunter
Global Hunter's picture

Whipsaw bitchez

Wed, 11/23/2011 - 09:43 | 1906318 knukles
knukles's picture

More nefarious that a whipsaw....
Call Armageddon, world comes to end, never again human (breeding like Viagra impaired rats and bunnies) consumption of raw materials.
Sell everything
Duck, panic.
Sell Everything....

(including silver... ah hem)

(Sos we can cover our shorts.  Which we don't have.  Really.  Honest.  Well, it'll be smaller after we cover some.)

And right before QEwhatever, too  :)
Propitious timing, I must say.

Wed, 11/23/2011 - 09:45 | 1906332 SWRichmond
SWRichmond's picture

Not to mention, this will demonstrate that there is no inflation....

Wed, 11/23/2011 - 10:14 | 1906448 Pladizow
Wed, 11/23/2011 - 10:17 | 1906493 CPL
CPL's picture

While oil chews the legs from underneath them as vapourizing assets.

Wed, 11/23/2011 - 09:50 | 1906350 Turd Ferguson
Turd Ferguson's picture

Until today, didn't these assholes have a $2500 target for gold?

Wed, 11/23/2011 - 09:53 | 1906365 Sean7k
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Since when did previous targets have anything to do with current recommendations? Have a great Thanksgivng Turd!

Wed, 11/23/2011 - 10:03 | 1906422 HoofHearted
HoofHearted's picture

We recommend getting into bonds. Preferably the German type...like last night. Everyone loves bonds. Buy bonds. Be patriotic, no matter to which country you find allegiance. Do not seek out gold or silver. Pieces of paper are much better. Trust us. We are JP Morgan. Never mind what JP Morgan himself said about gold....

Wed, 11/23/2011 - 10:15 | 1906488 SGS
SGS's picture

And their Silver reco?  Cant find it.  Is silver still a commodity? LOL Go Blythe GO!  Cunt.

Wed, 11/23/2011 - 09:54 | 1906370 Quintus
Quintus's picture

Indeed, but that was when they wanted to lure in some new Spec longs to rape during the traditional Pre-OpEx smackdown.

Now, presumably, they want everyone to sell to them so they can cover some more shorts.

There should be some sort of a regulator or something that would oversee the market and stop this sort of thing.  Maybe one day, we'll get one.

Wed, 11/23/2011 - 09:55 | 1906375 unky
unky's picture

Since about the time when Gold breached the $1900 level they raised their target to $2500. Of course at that time, they alreadly knew it would go down to $1600 again...

Wed, 11/23/2011 - 09:55 | 1906377 knukles
knukles's picture

SW and Turd...
Cover for the Fed, no inflation.
And yep, they had a "big" target for all the commodities.

Desparation is the Morgan way.....

SuperCommittee may ass.  I mean, anybody with an ounce of sense knew full well that the Committe was not gonna come to any conclusions.  And was clearly telegraphed as such for weeks

Strawman Deluxe

Wed, 11/23/2011 - 10:01 | 1906412 Sean7k
Sean7k's picture

This wouldn't have anything to do with the current OI in silver and gold for December, the huge transfers from customers to the JPM dealer accounts yesterday or even the huge 2.7 million ounce silver withdrawl from the comex? Nah, didn't think so...

Wed, 11/23/2011 - 10:47 | 1906592 LongBalls
LongBalls's picture

Congratulations America. Well the smart ones anyway! Your starting to get it! Buy phyz. gold and silver at any price and aggressively on big dips! If your going to play a paper game then do it in oil. We are headed for the big one in the middle east. My guess is that the collapse will come as an excuse of the war and skyrocketing oil. We are now, at best, two months away.

Above all forget about this crap after today. Enjoy your families ZH brothers and sisters! After all, we pay attention to this crap because among many things, we love them.


Wed, 11/23/2011 - 14:16 | 1907487 TheMerryPrankster
TheMerryPrankster's picture

But apparently JPMorgan likes the London Metals exchange


(Reuters) - J.P. Morgan (JPM.N) has agreed to buy all of defunct U.S. brokerage MF Global's (MFGLQ.PK) shareholding in the London Metal Exchange following a competitive bidding process, KPMG, the administrators for MF Global's UK unit, said on Wednesday.

"We received a great deal of interest in the LME shares and are pleased to be in the final stages of concluding a sale," Richard Heis, joint special administrator of MF Global UK, said.

He did not give a price for the sale. Sources told Reuters on Tuesday that J.P. Morgan would pay 25 million pounds ($39 million) for the 4.7 percent stake in the LME, implying a total value of around 530 million pounds.

J.P. Morgan already has a 6.2 percent stake in the exchange, the world's largest metals market.

Wed, 11/23/2011 - 09:33 | 1906292 GeneMarchbanks
GeneMarchbanks's picture

'If the ECB will not take the hint, JPM will bring the mountain to Mohammed. Or something.'

So JPM won the coin toss with GS over who gets to issue the 'report' eh?

Wed, 11/23/2011 - 09:45 | 1906330 Gief Gold Plox
Gief Gold Plox's picture

What I want to know is what kind of a coin was it? It wasn't Traditional by any chance?

Wed, 11/23/2011 - 09:48 | 1906343 Rock the Casbah
Rock the Casbah's picture

It was a nickel!

Wed, 11/23/2011 - 10:04 | 1906429 HoofHearted
HoofHearted's picture

Then those bastards stole it from Kyle Bass!!!

Wed, 11/23/2011 - 09:33 | 1906293 Quintus
Quintus's picture

Does anyone have a number for JPM's commodity desk?  This report has made me want to sell all my gold and silver immediately.  Maybe they would do me a favour and take it off my hands - I hear they are really nice people.

Wed, 11/23/2011 - 09:37 | 1906305 unky
unky's picture


Wed, 11/23/2011 - 10:25 | 1906530 fockewulf190
fockewulf190's picture

Toll free? JP Morgue doesn't do free.

Wed, 11/23/2011 - 10:10 | 1906468 Ethics Gradient
Ethics Gradient's picture

+44 20 7777 4336

Let me know how you get on.

Wed, 11/23/2011 - 09:35 | 1906298 midgetrannyporn
midgetrannyporn's picture

So kind of them to share.

Wed, 11/23/2011 - 09:43 | 1906308 Quinvarius
Quinvarius's picture

JPM is in a panic over Sprott's $1.5 billion filing to buy silver.  They don't have it.  They are short.  So they are trying anything now.  Sprott can more than clean out all the registered silver at the COMEX.  But he will likely choke off supply to the COMEX and avoid being involved in a CME default/collapse.

Wed, 11/23/2011 - 10:09 | 1906456 Carlyle Groupie
Carlyle Groupie's picture

He really should have tea with the Hunt Bros and discuss.

Wed, 11/23/2011 - 10:33 | 1906555 Quintus
Quintus's picture

The hunt brothers got hung up by the short and curlies because they played in the paper metal sandpit where the cartel makes the rules to suit themselves.

Sprott buys physical metal, mostly from the producers.  The only way the cartel can hurt him is to jack up the price of silver to the stratosphere so he has to pay more for it.  

I don't think they'll be doing that in a hurry.


Wed, 11/23/2011 - 10:10 | 1906469 fockewulf190
fockewulf190's picture

All they are going to accomplish is a fire sale for phyzz. Bring it...I've been saving my fiat for just this opportunity.

Wed, 11/23/2011 - 10:48 | 1906597 Former Sheeple
Former Sheeple's picture

Q - They are massively short/Sprott 1.5 B presents a problem, so smash down seems likely. Anyone have thoughts about Friday (thin market, everyone gone, easy to manipulate - sheeple stampede to the exit on the price drop???)

Wed, 11/23/2011 - 10:50 | 1906602 thunderchief
thunderchief's picture

December is a Delivery month for gold and silver at the comex. 

They will have to bribe a lot of folks not to roll their contracts over and settle for paper. 

Paper that may not even be in your trading account one morning.  Go ask Mr. Celente.

Wed, 11/23/2011 - 10:53 | 1906620 Tramp Stamper
Tramp Stamper's picture

Sprott warehouse raid immenent

Wed, 11/23/2011 - 14:21 | 1907506 TheMerryPrankster
TheMerryPrankster's picture

plant some kiddy porn and do it for the children, would our government really do something like that? Or would it be better to plant some drugs and just confisicate the whole operation in the name of the drug war.

Or plant some chemicals and call it a terrorist opeeration and waterboard Sprott?

The government has a truly impressive array of legal weapons to destroy its targets.

Wed, 11/23/2011 - 11:28 | 1906780 LongBalls
LongBalls's picture

If Sprott does indeed follow through, the long awaited separation of the paper v's physical price will be in gear.

Wed, 11/23/2011 - 09:39 | 1906310 the not so migh...
the not so mighty maximiza's picture

so buy?

Wed, 11/23/2011 - 09:45 | 1906329 Chupacabra-322
Chupacabra-322's picture

Absolutely!!!  More Jedi mind tricks.  They advise report/advise one thing I completely do the opposite.

Wed, 11/23/2011 - 10:00 | 1906410 hungarianboy
hungarianboy's picture

To me the chart looks bearish. Would you buy or rather wait till new trend develops???

Wed, 11/23/2011 - 10:06 | 1906440 Muddy1
Muddy1's picture

absolutely, BTFD, hold the physical in your hand, 

look at the box below the second chart "Similar Articles You Might Enjoy", the first article is these same clowns at JPM predicting $2,500 gold

Wed, 11/23/2011 - 10:22 | 1906522 Chupacabra-322
Chupacabra-322's picture

You remember Andrew MaGuire?  I do, oldie but a goodie.

Andrew McGuire, whistle-blower on market manipulation, injured in hit-and-run accident

Gold is Money
Sat, 27 Mar 2010 19:04 CD

Interesting turn of events.... TPTB are not happy. Its either they silence him now, or else things would get out of hand if this hits the mainstream media. Just imagine him being interviewed on all the independent newspapers. the only way he can save his life now is go viral with his message with the help of the gold bugs.

Le Metropole Members,

On March 25th at the CFTC Public Hearing on Precious Metals GATA made a dramatic revelation of a whistleblower source, Andrew Maguire, who has first hand evidence of gold and silver market manipulation by JPMorganChase and who has even tipped off the CFTC in advance of manipulative attacks on gold and silver. Just as in the Madoff case the regulator has done nothing to stop such manipulation.

On March 26th while out shopping with his wife, Mr. Maguire's car was hit by a car careening out of a side road. The driver of the vehicle then tried to escape. When a pedestrian eye-witness attempted to block the driver's escape he accelerated at him and would have hit him had the pedestrian not jumped out of the way. The car then hit two other cars in escaping. The driver was apprehended by the police after police helicopters were called in and following a high speed chase.

Andrew and his wife were hospitalized with minor injuries. They were discharged from hospital today and should make a full recovery.



Wed, 11/23/2011 - 09:41 | 1906316 mayhem_korner
mayhem_korner's picture



Did they include the part about how they're 100 million oz. short silver?

Manufactured fire drill.

Wed, 11/23/2011 - 09:43 | 1906317 Eally Ucked
Eally Ucked's picture

Bonds represent much better value! I'm buying a whole bunch of them, diversifying across Europe, Japan and US.

Wed, 11/23/2011 - 10:10 | 1906472 Bold Eagle
Bold Eagle's picture

Exactly my thinking! Failure of the world politicans to fix the debt problems will do wonders for those bonds!

Wed, 11/23/2011 - 09:42 | 1906319 Master_Blaster
Master_Blaster's picture

Maybe I'm not the brightest, didn't they just state the debt numbers and the growing debt numbers/risk and then recommend buying the debt?

Wed, 11/23/2011 - 11:16 | 1906720 ffart
ffart's picture

Stop asking questions! FOUR LEGS GOOD TWO LEGS BAD.

Wed, 11/23/2011 - 09:45 | 1906334 Sean7k
Sean7k's picture

Well, I see a load up the truck moment approaching.

Thanks, JPM. With friends like you, who needs equities? 

Oh yeah, you might want to include the shorting of bank stocks as well, since we know all that debt plays hell with your valuations. 

The big question is: can JPM continue to keep the price of silver equal to its' stock price? Time to throw down...

Wed, 11/23/2011 - 09:46 | 1906337 eddiebe
eddiebe's picture

If nothing else this will be a bit of atest to see how stupid Joe and his advisors really are this time around.

Wed, 11/23/2011 - 09:56 | 1906338 DormRoom
DormRoom's picture

2008 bitches.. correlation of 1 implies liquidity preference towards USD.  And let's not forget about a Chinese hard landing. Thus all commodity prices implode until more printing presses are ordered.  Margin calls yall. Good luck surviving the commodity complex deleverage-unwind.

Wed, 11/23/2011 - 10:10 | 1906471 Carlyle Groupie
Carlyle Groupie's picture


Wed, 11/23/2011 - 10:18 | 1906496 fuu
fuu's picture

Let's get physical, physical. I wanna get physical, let's get into physical.

Wed, 11/23/2011 - 09:46 | 1906339 magpie
magpie's picture

Even with full scale deflation / European debtsplosions, with the capital flight out of China i don't see commodities falling too much.

Wed, 11/23/2011 - 09:56 | 1906379 i-dog
i-dog's picture

Particularly now that Australia has just passed a "super tax" on mining profits through their lower house ... in addition to their recent "carbon tax" on primary and energy producers!

Tax, tax, tax! Spend, spend, spend! "The road to prudent economic management"!

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