The day's price movements

benjamen

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Full report from the BLS:
http://www.bls.gov/news.release/pdf/empsit.pdf

"...labor force participation rate was little changed at 63.4 percent. Over the year, the labor force participation rate has declined by 0.4 percentage point"

"2.2 million persons were marginally attached to the labor force, down from 2.4 million a year earlier. (These data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey."

"the unemployment rates for adult men (7.2 percent), adult women (6.5 percent), teenagers (24.5 percent), whites (6.7 percent), blacks (13.5 percent), and Hispanics (9.1 percent) showed little or no change in May. The jobless rate for Asians was 4.3 percent (not seasonally adjusted), little changed from a year earlier."
 

ancona

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The dollar is hypnotized by the yen these days. PM's and other commodities are getting bitch slapped by algorithms, not actual people. Anyone selling phyz right now should have their head examined for holes and leaks.
 

pmbug

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Disappointing economic indicators and higher unemployment...

...and the dollar rises/PMs fall?

It's a contrarian play on QE / tapering. Bad news means moar QE and no tapering. It's all fundamentals!
 

benjamen

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Further reading of the BLS report:

"Total nonfarm payroll employment increased by 175,000 in May"
"The civilian labor force rose by 420,000 to 155.7 million in May"
Shouldn't this mean the number of unemployed rose by 245,000 in May?
:confused:

Looking through the tables at the end...
Woman age 16+ Total: 126,970
Woman age 16+ Employed: 67,599
Men age 16+ Total: 118,393
Men age 16+ Employed: 76,299

If you do the math, the percentage of all people in the U.S. that are 16 years old or older and employed is 58.6%
 

benjamen

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http://kingworldnews.com/kingworldn...n_Gold_&_Silver_Smash_In_Suspect_Trading.html

"So passing the baton to London we will have already traded 100,000 contracts. A normal night (during Asian trading) would be 20,000, to put that in perspective. So the question is, who is selling all of these contracts at levels that are multi-year lows? Who’s so keen to sell?"

“And if you need to sell, why are you selling at the worst time of day? Why are you selling in Asian time, which is always the thinnest section of trading? Why don’t you wait for London and Chicago to take over?"
:noevil:
 
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bushi

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(...)So the question is, who is selling all of these contracts at levels that are multi-year lows? Who’s so keen to sell?"
(...)“And if you need to sell, why are you selling at the worst time of day? Why are you selling in Asian time, which is always the thinnest section of trading? Why don’t you wait for London and Chicago to take over?"
:noevil:

...why, benjamen, EVERYBODY knows that gold & silver bugs are the worst investors in the world, so that kind of investment illiteracy amongst even the biggest of them, just follows logically & is to be expected :rotflmbo:


Nothing to see here, move along!

 

Aubuy

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http://kingworldnews.com/kingworldn...n_Gold_&_Silver_Smash_In_Suspect_Trading.html

"So passing the baton to London we will have already traded 100,000 contracts. A normal night (during Asian trading) would be 20,000, to put that in perspective. So the question is, who is selling all of these contracts at levels that are multi-year lows? Who’s so keen to sell?"

“And if you need to sell, why are you selling at the worst time of day? Why are you selling in Asian time, which is always the thinnest section of trading? Why don’t you wait for London and Chicago to take over?"
:noevil:

Would this have anything to do with the ETF having to dump gold after another major sell off?
 

ancona

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With the selling going down is Asia so heavily, they probably triggered stops to force more people out of their positions. This feels like the short covering spree back in late '08 in to early '09.

I can't wait to see the latest COT report.
 

bushi

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Would this have anything to do with the ETF having to dump gold after another major sell off?

erm, what about the timing in that statement????? ETF having to dump gold, after major sell off, would be the cause of the sell off??
 

pmbug

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I'm guessing Bernanke just spoke and said "nevermind about that tapering talk".
 

pmbug

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... with the absolute majority of economists and strategists, or 67 of 70, predicting no rate cut by the ECB, this is exactly what the ECB just did, when in a stunning move it cute rates for both the main refi rate and the marginal lending facility by 25 bps, to 0.25% and 0.75% respectively. And there is your reaction to Europe's encroaching deflation.
...

http://www.zerohedge.com/news/2013-11-07/stunning-move-ecb-cuts-rates-25-bps-euro-plunges

Almost there (to zero), almost there (to zero)

garven.jpg
 

ancona

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I think we're getting close to the "buckle up point" in this Potemkin economy. Watching the neurotic Dow and the weekly swings, and looking at the absolutely pathetic volume, I see shit starting to slowly unravel. More resilient nations are dealing with the taper but second and third world nations have caught financial flu, with Argentina leading the pack. With less 'free money' and a little more fear we are going to see the first world come unglued. I believe PM's will get monkey hammered just like the last unwind, but they will rapidly go in to orbit as the world looks for a safe place to hide their rapidly depreciating fiat dollars for protection. Paper gold and silver are going to lose their luster overnight.
 

pmbug

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Sure seems like there is a lot of pressure building in the caldera.
 

ancona

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1:53 pm and the ball is gaining speed on its way down the hill. we might even see a 300 point or more down day.
 

pmbug

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I'm not a TA chartist, but it certainly feels like the metals are beginning to gain some upward momentum.
 

pmbug

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Still looks like a slow climb. Is the sale over?
 

ancona

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I'll be convinced when we decisively cross the 26 dollar mark in silver and the 1,400 dollar mark in gold. Until then, it's all on sale [fire sale actually].
 

tedrow42

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Big jump today I seen on 1 site. Any one hear about Iran? Think that's got a lot to do with it
 

DCFusor

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Well, the last time gold jumped above the (falling) simple 50 day on a yearly chart - july, we had a nice pop, but then went way down. Whether that pattern repeats again, I can't say, but it was a falling 50 we broke a little while ago...

I think the drivers could be different this time, but human nature never really is.
I like it going up - but for me, it's not time to double down. All of the really historic rises have been just after crossing *above* a *rising* 50 sma. That's not what we are having now. But that's only all of the history I can go back to easily.
 

rblong2us

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Any one hear about Iran? Think that's got a lot to do with it

Apart from them sending a couple of boats to try and annoy the US Ive not heard anything.

What do you think Iran could be doing that might effect POG Tedrow ?
 

tedrow42

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Apart from them sending a couple of boats to try and annoy the US Ive not heard anything.

What do you think Iran could be doing that might effect POG Tedrow ?

Well what I read was they will be trying to get close enough to launch a nuke to detonate in the atmosphere and knock out power grids. Also said they might try to use a cargo ship. Seems to me its enough to make a panic to drive up demand for pms could be wrong
 

ancona

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It's my understanding that they are back up to 1.3mm barrels of oil production and have been off-loading it like crazy. I hope they push oil back down to 75 for a while.
 

rblong2us

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Well what I read was they will be trying to get close enough to launch a nuke to detonate in the atmosphere and knock out power grids. Also said they might try to use a cargo ship. Seems to me its enough to make a panic to drive up demand for pms could be wrong

That sounds like a bit of fearmongering Tedrow. Good if it drives up metals though.

I read this a couple of days ago and it seemed to put things into perspective -

http://www.stratfor.com/analysis/iranian-navy-symbolic-show-force-atlantic
 

DCFusor

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I see that as fear-mongering. If they've tested a weapon, believe me, we'd know, we can even see a fizzle from here seismologicalally and radio-logically. Does anyone with half a mind think they'd try their first test on us? Kind of doubt that.

That said, I have *no idea* why they'd do a "show of force" with so little force a seal team could easily take it out in one op (swim up and attach mines), much less any few boats in our own Navy or a couple fighters - or maybe a single fighter would do. It's just silly. Are they trying to embarrass themselves? Create a false flag? They don't need the latter, it's not as like we've been treating them really nice of late, with sanctions and all. The "mouse that roared"?

I think the PM price movements are just general fear/rebalancing - not so much tied to this event or any other single one. Lack of faith in conventional monetary systems hasn't been increasing in quite a number of years - and the situation is becoming obvious to more and more all the time - it appears to be a one-way function. Where the tipping point is, I'm not smart enough to make a guess at. I'd guess it's more a matter of when than if - but when spans a lotta turf, or as they say, "things can be irrational longer than you can stay solvent" so it's when that is the crucial question.

Hey, if it makes them feel better, I'm all for it. At this point at least I am laughing.
 

CoinExplorer

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They're exercising their right to free navigation, like we do in the Black Sea or... Persian Gulf. Same reason the Russians used to go into the Gulf of Mexico back when.

Since we've been all up in their grill with aircraft carrier task forces for the last ten years, they've probably felt some domestic pressure to exercise their own rights.
 

ancona

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With all of the data showing a massive constriction of supply versus true physical demand, it really can't be long before they have to unbind silver and gold, allowing them to seek a higher equilibrium price to free up supply. I hope that time is now.
 

DSAbug

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Once we take out 1440 (the August highs) then the picture will look much more clear from a charting perspective. Right now it's a potential double bottom and potential turn.

On a monthly basis, we are setup to have a substantial bounce but it might not be really all that exciting till this fall..
 

rblong2us

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ah price movement.........
turns out theres no such thing, just the illusion of movement -:rotflmbo:

http://www.marketoracle.co.uk/Article44778.html

neat comparison of markets with quantum particle 'movement'

and some interesting observations on the daily gold fix

by Paul Tustain who obviously I trust with my entire stack :flushed:
 

11C1P

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Next time a Dr./nurse asks one of us about our last bowel "movement" we should get into Heisenberg's theories on quantum formula and see what they say. Please post results.
 

benjamen

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ah price movement.........
turns out theres no such thing, just the illusion of movement -:rotflmbo:

http://www.marketoracle.co.uk/Article44778.html

neat comparison of markets with quantum particle 'movement'

and some interesting observations on the daily gold fix

by Paul Tustain who obviously I trust with my entire stack :flushed:

Facinating article
:cheers:
 

pmbug

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I notice the price of gas at the pump has been steadily climbing over the last week or so. Gold however, has gone on sale. Hmmm....
 
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