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Monsters and Metaphors

from TF Metals Report:


Much discussion this weekend that is relevant to the central aim of our blog seems to center around the legitimacy of this recent metals rally and whether or not “this time is different.” Our fine host Craig has warned us on Friday that this time may not be different. In fact, key signals that have traditionally preceded a metals smash are present.

Yet several others here over hte weekend argued that this time really may be different. Oil is struggling to remain above 30. … ZH article are mongering fear at an unprecedented rate. Global markets are falling. But in other news, it is business as usual The G20 is meeting on schedule. Banks are open.

Hillary is ahead of Sanders. When we start having some bank holidays, and when metals bust higher in the face of the paper shorting, then we can all be certain. As of this AM, metals have been taken down in an all too familiar overnight pattern. And I have to take that as an indicator that the bankers are still in the driver’s seat. Trade accordingly and do not lose heart if we run flat today and continue to fall tonight. We seem to be sitting on support in gold and silver has formed a classic head & shoulder pattern and moved well below the neckline. The USD/JPY has been pushed up to 113.20—nearly a dollar higher (whatever a dollar means these days). So far, we are not looking so different. But my fingers are crossed.

Meanwhile, the S&P has rallied and is trying to break above resistance. Other markets are all moving higher on the good news… Uh… I’ll let you know when I see what that “good news” is though. Bloomberg seems a tad pessimistic this morning.

DUST is trading higher this morning and I am considering buying a bit after the morning profit-taking. And you should only follow my trading advice if you want to profit occasionally and enjoy licking your wounds the rest of the time. Edit: I bought a little just now (9:40am)

Well enough metals talk. Let’s about other Keynesian things things, like monsters…

Read More HERE

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