Monday, March 11, 2013

FINAL CHARGE!

Last Charge
After sustaining a mortal wound, the once euphoric precious metals trade gathered its remaining participants for a last stand against the overwhelming cabalist light cavalry. A once proud trade decimated by the withering day after day beatdown gathered its remaining participants for one last stand. Creating a "broken trade" delivered the fatal blow to many diehard  traders expecting a breakout during the last bounce. Now you have almost complete capitulation with a few holdouts trying not to break ranks and flee. That is how this game is played. Don't just eliminate your adversary but completely destroy them with all of your might. Once you complete your 2 year destruction of the euphoria and made black look like white and up is down and good is evil......then and only then will you release the bondage of the handful of precious metals traders. Your team is locked and loaded for the ride up and the battle scarred PM retail longs left just want to get out with a profit. Can you blame them? If they could file for Post Traumatic Stress Syndrome, many would.

We're not in a new paradigm. Were in the same old wash, rinse, repeat paradigm that has been used for centuries. Some people actually believe that the Jobs report last Friday was somewhat reflective of a recovering economy. How can you possibly not see what has happened. We actually had THOUSANDS of citizens QUIT LOOKING FOR JOBS and just drop out which made it look like there was a drop in the unemployment. VIRTUALLY ALL THE JOBS ADDED WERE PART TIME JOBS! Isn't that precious and you are just expected to SWALLOW IT. How many jobs are being created that pay HALF of what the jobs payed that they are replacing.....in other words......we're getting pushed deeper and deeper into the toilet.

Right now we are still in no man's land. There is no confirmation we've hit a bottom. We ARE establishing a bottom however. They are selectively crucifying shorts caught in the firing zone of SELECTIVE MINERS. One after another I've watched these firing zones erupt for several weeks and they are intensifying in size and frequency. This type of whipsaw is signalling a change in direction and is attempting to dislodge the last weak leaves. Ask yourself how much more can you take? The paper game is designed to destroy you. gll




49 comments:

  1. I have to make one comment on these markets. This kind of blatant manipulation is really quite unbelievable, even after you know the games they play and what the Fed is trying to do. I mean, there are no corrections of any kind allowed here, just a low-volume melt up, and telling the sheep to enter or get left behind.

    It will end badly when it does, but know the heck knows when that is? I'm now thinking, keep maybe 6-8 months cash for expenses, and freaking put most everything else in gold and silver. We are living in interesting times, for sure.

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    1. get out of the market when sp hits 1600 and vix is at 10.....take 1/2 or all of it off the table...

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  2. Not that I disagree with what you are saying, but where else would the average Joe put money besides the market? Cannot get any return on your money in savings accounts, cds, ect. And not one of my friends have ever mentioned gold or silver to me. While some are waiting for a pullback, many more are buying into it. Add to that the Fed is printing and will continue to print. My question would be - how will the market ever go lower? It could be years before we see a deep correction. How many of these so called experts have been calling for a market collapse for the last 5 years. Don't fight the trend, and really don't fight the trend when the Fed is behind it. Just my opinion. I'm just happy that the miners seem to be turning. Good luck guys!!!

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    1. Ryan....that is how retail thinks....first of all the fact that none of your friends have ever mentioned gold or silver is extremely bullish for gold and silver in a secular bull market.......Retail are not in it.....Just because this site talks about it doesn't mean that most here own any gold bullion. Probably very few own silver bullion that read this site. Most "experts" have been calling for recovery....as far as collapse goes don't be NYcentric.....your area benefits directly from the reflation to the banks.....look overseas many countries at war or in a state of true unmitigated DEPRESSION. This is all painted to maintain CONfidence and I am riding it to its fullest. I vacation every few months with my family...I go out to dine with my family and purchase articles that are discretionary.....I'm riding their delusion as long as it rides my friend.......but I have NO delusions myself.....the econ numbers are 40% true 60% fabricated......I will not crawl in a bunker but if you think this will go on indefinitely then I have a bridge in Brooklyn for sale......Of course from a trading perspective you are more than welcome to use any metric you choose but this is designed to destroy the trader so beware.

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    2. They will engineer the rally (whenever it comes) in PMs and PM equities to be "doubted"....it will appear to be questioned as a "disbelief" rally with retail staying on the sidelines except to step in at the top of each correction that shakes the new leafs out like your friends....and to take their money..hhehhehehehe......chaching......that's the game Ryan.......just because they don't want YOU in this trade doesn't mean THEY don't want in this trade.........at least at their own time and choosing........I certainly wish in retrospect that I hadn't held more cash for the cheap prices but I'll be patient and wait with my positions. Like Sinclair from an anecdotal point of view I haven't seen so much negative sentiment in this trade in a long, long time.....that makes me happy.... ;-)

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    3. Richard Russell very clearly lays out my feelings and probably yours to some extent Ryan.....just be very careful and understand what he is saying.......this will not end well but for now we may have more sugar ahead.

      http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/3/12_Richard_Russell_-_Gold_Action%2C_Market_Melt-Up_%26_When_To_Exit.html

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  3. Even SVM which I thought was given up for dead is coming back to life.

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  4. "I certainly wish in retrospect that I hadn't held more cash for the cheap prices but I'll be patient and wait with my positions."

    You and me both.........

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  5. If you don't understand what this means then I cannot help you

    http://www.zerohedge.com/news/2013-03-12/what-recession-2012-lamborghini-deliveries-50-us-34-europe

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  6. I just got in to work.

    Gold
    1,592.80
    15.00
    +0.95%

    But the market is down...

    S&P 500 (^GSPC)
    1,550.72 Down 5.50(0.35%) 11:42AM EDT

    What's the news?

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    1. NO news......its called "the game" .....rotating money from an overbot market into a destroyed sector..should be continued shakeouts in PM equities but you can't count on it.....if the hedges and retail don't hop on then they won't shake it

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  7. http://www.silverdoctors.com/jim-willie-the-collapse-is-at-our-doorstep/

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  8. You girls need to give up your guns......the police will protect you

    http://usnews.nbcnews.com/_news/2013/03/12/17284267-jury-finds-nypd-cop-guilty-of-plotting-to-kidnap-cook-eat-women?lite

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    1. Will the police come before or after said female vomits and or urinates on her attacker???? And to think that nut was walking around with a loaded fire arm...........

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  9. http://blog.milesfranklin.com/ta-is-for-traders-physical-gold-and-silver-are-buy-and-hold

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  10. Kli, That cop story is too depressing. The sleep of reason breeds Monsters. Fransico Goya.

    I just have a stock question, so how many shares will wall street control in the mining trade when they are finished? Do they want control of the mines or do they eventually want to dump the shares back to retail and take profits? I see there are still over 8 million short shares in Pal.
    And is there any chance when could get a CGR chart in the next couple of weeks? Thanks for the blog.

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    1. CGR WILL BE UP in 5 mins.....Wall Street? IF you mean the "Biggest of the big sharks in the pool" controlling this trade then YES they OWN it here.....They still have plenty to flush out of this trade and they can do it now just by Chopping it on the run up....imagine the built in fear in this trade. I was one on one by a hegee that I visited last year that "this" trade was NOT his cup of tear and that it was "too volatile" to be in. AND THAT's WHAT THE PROS were saying. Right now I think we are in the middle of some extreme short covering coming. It might take some time to develop but I am seeing a lot of daily percentage moves in these miners now BOTH WAYS. Short answer is I don't know if they WANT common shares to "control" these mines? But I do know they will run these miners VERY FOCHING HIGH at some point before the truly dump them on the "bagholders"........and of course retail is only one component of the "bagholder" equation.......

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    2. Control is through secured senior debt. Push a desirable company into insolvency and you own it's underlying assets in the PM case the reserves. But that is the final poison pill against shareholders, in the meantime just fleece 'um up and down on the daily paper trade.

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    3. common shares are for the prop desk to operate the "casino".....always have been the big boyz play money

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  11. Where do the puppet masters get these people from??

    "Gold is the worst investment of 2013"

    Link: http://finance.yahoo.com/news/gold-worst-investment-2013-150414062.html

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  12. Here is another gold "bad" story!

    http://www.bloomberg.com/news/2013-03-12/gold-sales-from-soros-reveal-12-year-bull-run-decay-commodities.html

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    1. It seems like many of the talking heads are trashing gold. A coordinated effort.

      As KLI says "They don't want you in this trade."

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  13. Here's what the PM Prop desk starts out with at 930

    http://www.youtube.com/watch?v=AapKU62kYm4&feature=related

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  14. MUX and EXK shorts trapped in a slaughter

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  15. bullish MACD cross on PZG with volume

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  16. McEwen Mining Inc (MUX)
    2.83+0.23 (8.85%)

    Endeavour Silver Corp. (EXK)
    6.49 Up 0.71(12.28%) 4:00PM EDT

    This has been amusing KLI... Every day they pick one or two miners. They rocket the price leaving the shorts dumbstruck and in awe. I can just picture the 20 something sitting at his Goldman desk grinning at the ease.









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  17. http://kingworldnews.com/kingworldnews/KWN_DailyWeb/KWN_DailyWeb.html

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  18. Thanks for the chart and answer Kli.

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  19. Getting out of this market at around 1600 is probably a wise decision. I may even do it a bit sooner. We have 2.5 more weeks of POMO, so a modest 2-3% from here is definitely possible. I have a couple of small trading accounts that I've most left alone, and been able to ride this rally so far. It's not a bad idea to go to the sidelines for a while, as I'm already halfway there.

    Also, regarding Jim Willie, isn't he the guy who predicted a few months ago that the collapse of Morgan Stanley was imminent, as in a matter days? I think MS has rallied something like 50% since that call, so just trying to establish some credibility here.

    I don't know him or his track record, and he looks like someone in a long list of "gurus" predicting doom for the last 2-3 years, with nothing to show for it. They'll probably be right at some point, but they will have also missed one of the biggest market runs in history.

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    1. Jim Willie has been a commodities/PM expert for many years......not a johnny come lately....as far as his short term predictions go, I have followed his posts but don't recall seeing any short term absolutisms......although he is prone to colorful rhetoric. I wonder Bud what part of the "doom and gloom" you find so trivial. I guess you believe that the Fed printing and the concomitant stock price justifies a rosy scenario that you can exit at your leisure should things actually become unstable......maybe so Bud....I hope your "calm and measured" approach plays out for all of us.....gl Bud

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    2. BTW Bud...please enumerate your "rosy" economic conditions for us.....I am open to learning anytime.

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    3. one through 10 would be sufficient...... simply saying that things are better and the stock market hasn't crashed yet just doesn't suffice when Willie puts in on the line and as far as I can tell has been VERY accurate. I want to see you enumerate a retrospective summary that should be easy for you.

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    4. here's a link to get started for you on the better than expected retail sales numbers today. They do these numbers for "traders" such as yourself Bud...Of course the market moving "up" validates it for "traders" like yourself Bud

      http://www.zerohedge.com/news/2013-03-13/adjusted-february-retail-sales-rise-more-expected-actual-retail-sales-post-first-dec

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  20. Gold moving up to challenge 1600 once again......hmmmmmmmm.....reject once again or a 1620 challenge in store? I think they continue to plow to 1620......then??......well that's what makes the game.

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  21. Kli, I wonder if budfox will pay my homeowners insurance bill that I received yesterday. Goddamned thing went up 27% from last year, which was on top of an 18% increase last year. I haven't filed a claim in over 12 years, and that was for a $4,000 roof and the only claim I've filed in over 23 years.

    Needless to say if bud doesn't come thru, I'm shopping for HO insurance today, LOL.

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    1. Duke,

      Look @ Narragansett Bay Ins. Co. if they write in your area....... Worth it! Signed up last year with them in NY and ZERO hurricane deductable for now and my preimum was less for more coverage then my prior policy was and that policy had a 5% hurricane deductible.....

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  22. BTW, Excellent post! I also agree with Immred6, I think. When all is said and done, there will be no "retail" left in the miners having much, if any, viable reserves. But you would think they will need to run it to the sky first:) and then bankrupt 'em. jd.

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    1. I think they will go after all miners with weak balance sheets and proven reserves.....which includes many of the exploratory only miners......so beware....the juniors that make it through will be 50 baggers or better

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  23. take a look at RBY.....over 200 million in cash and no debt....hmmmmmm

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  24. read my last paragraph in the post.......this shaking out like today is needed to "cleanse" the trade....it won't be the last either.....lets see how the "monthly" candle on miners looks before we wave any victory or surrender flags

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  25. Here's what Jim Willie wrote back in Aug 30, 2012:

    http://www.silverdoctors.com/jim-willie-morgan-stanley-faces-imminent-failure-ruin-may-see-1st-private-stock-account-thefts/

    "The insider conversation, often called chatter when it become deafening in tone, is that Morgan Stanley faces IMMINENT FAILURE and RUIN. Almost two weeks ago, the Jackass provided a tip to Bill Murphy of GATA to post on his popular LeMetropole Cafe that Morgan Stanley fund managers and high ranking employees were preparing for the firm’s implosion."

    Further down the article:

    "My European banker source indicates that as Morgan Stanley suffers the spectacle of failure, so will both Deutsche Bank in Germany and Credit Agricole in France collapse. The three failures will bring about other failures, like in London, as the entire Western banking system will be brought to its knees."

    So, for someone who was DEAD WRONG in this prediction, how can anyone take this clown seriously with this latest claims that the "collapse is at our doorstep"? I'm just pointing out the facts here, please don't shoot the messenger.

    There's a long list of so-called pundits who have been on the wrong side of the trade, calling for doom and collapse over the past 2-3 years, and they have been consistently wrong. So, all I'm saying is, why not keep an open mind to alternative points of view? As in, we know the Fed's policies are destructive, and we know the markets are manipulated, and we know this will all end badly. However, there's quite a ways to go before that happens. Maybe another 5 years? 2018-2022 perhaps? Can we at least not consider the possibility, instead of sticking to a singular objective that "doom is imminent?"

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  26. Bud,

    Do you read Chris over at The Weekly Telegram? Think you may like what he has to say. His latest vid on YouTube talks about gold vs stocks for investment. Basically says stocks always have and will blow away gold in terms of return. He does make so good points. Maybe you already read him. Anyway, good luck.

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    1. Really? Well I guess the last 12 years don't count ryan. gl to you...BTW Gold is NOT an investment....it is and always will be a store of wealth...Miners are an investment

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  27. Bud...
    I have been a member of the Jim Willie Hat trick letter as well a member of Bill Murphy...LeMetropole Cafe going on for 4 to 5 years

    also do you read Mish

    what is it that you want to know.



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  28. Morgan Stanley will probably served up as a sacrifice on the altar of the Cabal.... I'll take that bet. Also I do not know Jim's timeline on that Imminent may be a few days a few weeks or a few months. And HE may be wrong altogether...he does have sources and sometimes his calls are spot on and like all crystal ball readers he can be wrong. I put up a lot of links for your perusal and you still have not answered my questions above. I find that to be a bit disconcerting that you have these macro calls with no specific input.....

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  29. Kil I will give it a try...


    Rail Traffic Down; Truck Traffic Down; Air Cargo Hoping For A Bottom

    Read more at http://globaleconomicanalysis.blogspot.com/2009/05/rail-traffic-down-truck-traffic-down.html#GAgbXHy7076Y89wc.99

    Baltic Dry Shipping Collapses

    http://globaleconomicanalysis.blogspot.com/2008/10/baltic-dry-shipping-collapses.html



    as you can see the world is contracting
    so for stocks to be up as to future earning....I do not see it

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    1. Even their "hard" number such as the BLS report is shown to be a complete scam.....EVEN THE U6 jobs is too low at 14%.....we are so foched andto thin there are individuals that believe this chit. Well I guess you can count me as impressed that sheeple really are that stupid.....foch um ....I guess Spain, Italy portugal Bulgaria Cyprus Greece in full depression and getting WORSE! is a fochin MIRAGE????? Jeeeez......Maybe the new Pope can save these footers

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    2. sorry on hand held device poor spelling

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