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Recapping the Fed minutes and the COT report for silver

Cory
April 6, 2017

The Fed minutes had a couple interesting highlights that included a discussion on unwinding the balance sheet as well as a comment on stock valuations. The minutes did move stocks in the way you would think (down) but only for a short time. Yields did not react how they should if the market actually believed the Fed would be unwinding the balance sheet. Craig Hemke and I discuss these factors as well the COT report for silver… Open interest is almost at record highs again.

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Discussion
53 Comments
    Apr 06, 2017 06:57 PM

    All I know is my gold related positions are not doing a darn thing. But my silver positions are up 4 to 9% since January (USLV & SLV).

    CFS
    Apr 06, 2017 06:07 PM

    Cory, Here’s a question:

    What would happen if China, deciding to undermine the COMEX, stood via a bunch of proxies for more delivery than the COMEX has ounces, e.g. for silver?

    I know there would be cash settlement. However, would not seriously wound the COMEX for future dealings?

    CFS
    Apr 06, 2017 06:12 PM

    Let me ask my question above another way.

    If China decided that it wanted the worldwide prices of silver and Gold to be set by the Shanghai exchange, what do you think could China do to cause this?

      Apr 06, 2017 06:21 PM

      CFS :
      Have you ever thought that if the Chinese were trying to move away from the U S Dollar,it would be in their interests to keep the price of Gold contained to manage the rising costs of other commodities?

        CFS
        Apr 06, 2017 06:18 PM

        It depends on the amount of physical gold they have relative to the rest of the world and their anticipation of future purchases.
        The price of gold does not always correlate with the price of other commodities.
        Although other commodities do sometimes correlate with energy cost, as does gold.

        The US considers itself the sole world superpower.
        That will change. But when and how…….I always ask how and why, what if……

    Apr 06, 2017 06:16 PM

    Diffusing The Bomb of Obama Care

    Published on Apr 6, 2017
    The Spotlight of this Briefing focusses on how the “bomb” of health care destruction, Obama Care, can be defused and replaced in an expedient method. The Free market reforms instituted would decrease YOUR premiums by 70-80%.

    https://www.youtube.com/watch?v=eM_i5wkZAuc

    Apr 06, 2017 06:32 PM

    David Powell
    Health Care Policy Analyst

    Sunday, March 26, 2017

    http://www.davejanda.com/guests/david-powell/sunday-march-26-2017

    Apr 06, 2017 06:38 PM

    The COT is either meaningless and rigged/delayed data or it’s truthful and accurate data that can be used to help deciminate a trend in probable price trends short term.
    I’ve heard Turd trash and consider the COT data to be useless and untrustworthy data that the evil bankers use to mislead t investors when the metals get crushed or remain stagnant like now. But at times he seems to imply, contrary to his useful distrust of the COT, that the data can indeed be used to imply that the metals might be headed higher from their doldrums.
    He seems to be talking out both sides of his mouth agsin in an attempt to be right no matter what happens. He covers his bases so that he always has some small tidbit to point to that proves he was right one way or another.
    The COT is either relevant or it isn’t. People can see the hypocrisy in his comments if anyone cared to go back and check.
    I guess he hasn’t realized or cares that his nursery rhymish mocking style of synthetic analysis has exposed how shallow the narrative has become. He’s being tuned out by those from within.

    Here’s a blast from the past of Turd’s analysis and beliefs on silver and where it was headed. To the moon, of course.

    Let’s call it Math 101

    ://www.tfmetalsreport.com/blog/4209/summer-ends#comments

    “Hmmmm….let’s see. Was it HOT? Yes, most definitely. Real, real hot. How about EXPLOSIVE? Ehhh, kinda. Silver from $27 to $35 ain’t too shabby but not necessarily explosive. HISTORIC? Definitely not. Nothing historic about it. Lots of new longs and lots of fresh paper shorts, happily supplied by The Cartels. So, summer passes without an “HEH” move. Again, hmmmm. I wonder what’s next?

    “I guess there’s no sense in me going over the details again. Yes, I expected some historic, explosive price action this summer. Not knowing the true timeframe, I asked for the period 6/21 – 9/21. Nuts. Didn’t Hasn’t happen(ed).
    “All we can do now is continue to wait.
    ” In the meantime, I’m at least GRATIFIED by the fact that I PLEADED with you all summer to buy and add to your stack while silver was bouncing between $26 and $28.
    “Since there are still folks out there who criticize me for suggesting you buy at $47, I can now rightly claim that anyone who followed me at $27 is just $2 away from being even. (For the mathematically challenged, 47+27 / 2 = 37.) And, rest assured, $37 is RIGHT AROUND THE CORNER as is a return to $47 and beyond.”

    Right around the corner??? Lol!
    Yep, the guy who “pleaded with you” to stack at $47 or $27 is the same guy trying to teach as many unknowing newbs his version of Silver Econ 101 while it’s at $18.

    Are you kidding me? Lol!

      b
      Apr 06, 2017 06:19 PM

      Precious Metal Analyst Accountability
      http://www.pmaccountability.com/
      Precious Metal Analyst Predictions. … have anything against these guys but there is something very wrong with the current swath of Gold and Silver analysts.

      First and foremost – we don’t have anything against these guys but there is something very wrong with the current swath of Gold and Silver analysts. They are incorrect so much more frequently than they are correct in predicting the metals prices going back almost 4-years. They almost universally scream ‘manipulation!’ yet that doesn’t stop them from consistently anticipating a rise in the price of gold and silver. Many are compromised by telling gullible investors exactly what they want to hear to utilize their financial services, purchasing coins/bars from them, subscribing to their paid newsletters or accruing hits on their videos. Investors are invariably disheartened and our goal, at this website, is to find one, or more, who’s calls have some accuracy or truth. We’ve focused on these individuals so far – examining their quotes/predictions of the past (click names):

      Bo Polny James Turk John Embry

      John Hathaway Stephen Leeb Stewart Thompson

      Steve “St. Angelo” SRSRocco Martin Armstrong

      Silver Doctors Dave Kranzler Bill Holter

      Jim Rickards David Morgan Ted Butler

      If you’d like us to research specific others – please email us.

      Interesting, these guys recommend Bobs book Knowbody Knows Anything.

        Apr 07, 2017 07:48 AM

        They are wrong because they have not read the play book……or they know the play book and are taking advantage of the ignorant ……

          Apr 07, 2017 07:50 AM

          Bob, has been around long enough ,,,to know the skunks in the weeds………

            Apr 07, 2017 07:53 AM

            Pay for play……..fees and books…….levi (s)and picks/shovels…….same old story, different tools.

            Apr 07, 2017 07:19 AM

            Those who have their nose against the window pain, can not see the smudge on the glass……..Uncle Wally…..1988…..just thought is twas funny…..

    CFS
    Apr 06, 2017 06:42 PM

    Stefan over-hypes Syrian action a bit:

    https://youtu.be/VQcPZrBbb2Q

    He also has not consiered the possible benefit gained by Israel.
    Turkey is not the only country at which to point.

    CFS
    Apr 06, 2017 06:14 PM

    https://www.youtube.com/watch?v=2GVmuk87Puc

    Stefan again with Roger Stone.

    CFS
    Apr 06, 2017 06:18 PM

    Epstein Metals TA:

    https://youtu.be/uuEeE-T8QtI?t=34

    It worries me that Trump did not ,
    1. Get down to Florida before Xi,
    2. Great him immediately and appropriately.

    CFS
    Apr 06, 2017 06:26 PM

    https://youtu.be/ukeYrk4Ap3g

    Has Trump surrendered to the deep state.

    Of courrse Kushner and Ivanka are Democrats….

    Apr 06, 2017 06:31 PM

    Without a new catalyst for the rising price of Bitcoin,I look for other explanations.
    With the high interest of Chinese involved,I liken this as my Chinese volatility indicator.
    At market close yesterday,one Bitcoin=$1120 U.S Dollars.As I type,one Bitcoin=$1183.U.S Dollars.Chinese volatility=$63.00 U S per one Bitcoin.

    CFS
    Apr 06, 2017 06:58 PM

    Epstein end of Day TA
    https://youtu.be/eSkH95teIKQ?t=33

    Apr 06, 2017 06:50 PM

    Soros-Linked “Undesirable NGOs” Fund ISIS-linked Refugee Boats To EU

    Investigations by Italian authorities and others have found that NGOs funded by among others George Soros, are actively financing private ships to smuggle tens of thousands of illegal North African refugees into the EU via Southern Italy. The human trafficking is reportedly linked to ISIS smuggling networks. If confirmed by authorities, it could potentially open the NGOs to criminal charges .

    http://www.zerohedge.com/news/2017-04-06/soros-linked-undesirable-ngos-fund-isis-linked-refugee-boats-eu

    Apr 06, 2017 06:35 PM

    Well, the USA has made a stand for humanity.

      Apr 07, 2017 07:38 AM

      A little knowledge is a dangerous thing.

    Apr 07, 2017 07:33 AM

    Rockets away……….gold up……….

    CFS
    Apr 07, 2017 07:37 AM

    If Asaad made the Sarin gas attack……

    Thr Russians are claiming the sarin came from a hit on armament store placed by insurgents against the Syrian administration.

      Apr 07, 2017 07:19 AM

      It’s ridiculous. The US has no right or interest in bombing Syria (unless you count a gas pipeline). Even if the gas attacks were not a false flag, the US kills innocent civilians all the time. It’s hypocrisy to the 1000th degree.

      All this does is send a message to every sovereign nation in the world to obtain nuclear missiles. You are just inviting invasions/bombings if you don’t have them.

      Apr 07, 2017 07:35 AM

      It’s a distraction from he said, Xi said. But Xi doesn’t like surprises. It’s also instructive to see who favored the U.S. response and who didn’t.

    Apr 07, 2017 07:21 AM

    You know the commercials are shorting the crap out of silver here. They will create enough synthetic supply to kill price.

      Apr 07, 2017 07:28 AM

      IF, you have read silver stealers.net………it is all planned way in advance……just a thought.

        Apr 07, 2017 07:29 AM

        until the CFTC is changed…..and the administration is changed, and the govt banksters are changed……the game will continue…….

          Apr 07, 2017 07:30 AM

          Historical fact….just read it and then think about it………

      Apr 07, 2017 07:06 AM

      Spanky, I agree. Gold has taken out resistance at 1260. Silver on the other hand is still below resistance level of 18.52.
      Once Silver takes out the 18.52 level and closes above it for a couple of trading days,one should see some technical buying return. If silver can assume the lead from gold this should set up really nice for the mining stocks.
      One should stay vigilant watching the macro.With a record amount of margin in the futures,things could get squirrelly in a hurry.

        Apr 07, 2017 07:16 AM

        Good points JohnK. I’d like to see Silver take the lead again, as that would be more bullish for PMs in general.

        Also, agreed with your statement “With a record amount of margin in the futures,things could get squirrelly in a hurry.”

    Apr 07, 2017 07:29 AM

    yen is actually down this morning. Absolutely non-sensical action. I guess this is sell the (surprise bad) news?

    Apr 07, 2017 07:35 AM

    Pretty much any gap on GDX (except those off of *extreme* lows) are pretty much guaranteed to get filled. So these types of gaps up like today are counterproductive.

    Apr 07, 2017 07:37 AM

    My silver miners are barely up on this morning. People short the crap out of these gaps.

    Apr 07, 2017 07:39 AM

    Gotta love the US stock market. Bad news is good news. Good news is good news. Interest rates up, market goes higher. Interest rates down, market goes higher. It’s bullet proof and 100% proof that the Fed has created the greatest moral hazard in history.

      Apr 07, 2017 07:44 AM

      MIC…stock are going to go wild………..tone is set…….Fed is set…….fools will rush in (mom and pop) and the banksters will slide out…….

    Apr 07, 2017 07:32 AM

    Bright spot in the jobs numbers(or not)………..”mining and logging” …..stayed the same…see at zh..

    Apr 07, 2017 07:04 AM

    Couple of my silver miners- AXU and EXK- are actually down right now. They are clearly predicting silver’s coming demise. With the CoT commercial short position is where it is at currently, I can’t imagine silver is going to make much headway here, and if it does, it will probably be taken right back down to current levels, at least.

      Apr 07, 2017 07:20 AM

      Come on Spanky, Alexco is down 2 cents U.S. and is flat in Canada; that doesn’t “cleary” predict anything much less the demise of silver.

        Apr 07, 2017 07:21 AM

        Clearly!

          Apr 07, 2017 07:31 AM

          Maybe, but sliver is super overbought currently and has made a new high. Meanwhile AXU is flat to down. What happens when silver finally corrects $1-2?

          Both could be headed lower over the next 5-6 months as the lower monthly bollinger band (which has ballooned out to enormous proportions) rises. I’ll bet we won’t see new highs in AXU and EXK before a touch of the lower monthly bollinger band (or getting very close to it). The move off the January 2016 was simply too far and too fast not to snap back below the 20 WMA for some time. Again. I think $sugar’s bottoming process from ’99 to 2002 is a very real possibility for the HUI, but especially silver miners.

            Apr 07, 2017 07:00 AM

            meant 20 month MA, not 20 WMA.

        Apr 07, 2017 07:49 AM

        (AXU) (AXR) Alexco Resource Corp. – #VIDEO Corporate Presentation
        April 5, 2017 – Zurich, Switzerland –
        #Silver #Zinc #Lead #Exploration #Development near term #Production

        http://www.europeangoldforum.org/egf17/company-webcast/AXU:US/

      Apr 07, 2017 07:47 AM

      Top 15 Gold And Silver Mining Stock Takeover Targets: Which One Is Most Likely?
      Apr. 4, 2017

      Below is my list of the top gold & silver mining stock takeover targets. None of them are producers, but they all have very lucrative properties. Plus, they are all undervalued. Most of them have very advanced projects.”

      * Stock Name – Symbol (US)

      Alexco Resources AXU

      Aurvista Gold ARVSF

      Barkerville Gold Mining BGMZF

      Bear Creek Mining BCEKF

      Dalradian Resources DRLDF

      Falco Resources FPRGF

      Golden Minerals AUMN

      Integra Gold ICGQF

      Hummingbird Resources HUMRF

      Midas Gold MDRPF

      Orezone Gold ORZCF

      Rye Patch Gold RPMGF

      Sandpspring Resources SSPXF

      Treasury Metals TSRMF

      Victoria Gold VITFF

      Vista Gold VGZ

      https://seekingalpha.com/article/4060268-top-15-gold-silver-mining-stock-takeover-targets-one-likely?uprof=45&isDirectRoadblock=false

        Apr 07, 2017 07:44 AM

        I pick Integra if I only get one pick…..producer I pick teranga…

    CFS
    Apr 07, 2017 07:17 AM

    Sarcasm on.
    The “Religion of Tolerance” strikes again:

    http://www.telegraph.co.uk/news/2017/04/07/truck-crashes-crowd-people-stockholm/
    Sarcasm off.

    What did Sweden do? Mr. Moriarty.

      Apr 07, 2017 07:11 AM

      better read the book………

    Apr 07, 2017 07:34 AM

    OWL COINLAND Report.
    Coin of the Week……silver play of the week…………………………
    1946 half dollar 50cent piece……..MS66………up 22.22% this week
    value……………………………………………$275 …was $225
    melts…………………………………………….less than $9.00

      Apr 07, 2017 07:41 AM

      just for fun………..