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Well I was wrong. or they fooled me on Palladium. It's finally done it and is now below the price of Platinum. And not because Platinum has done anything. The car market is imploding.
 
The auto market is way out of whack. It needs a harsh correction before it gets healthy again. $.02
 
Voodoo said:
Well I was wrong. or they fooled me on Palladium. It's finally done it and is now below the price of Platinum. And not because Platinum has done anything. The car market is imploding.
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I can remember when Platinum was priced higher than Gold and when diesel was cheaper than gasoline.
 
jelly said:
...
If miners are any gauge, it would be lower.
...
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Then again, FWIW, it seems that lately, the miners have been somewhat disconnected and are not really functioning as a gauge. :popcorn:
 
This is by far the most baffling gold market ever. Never has gold been at the cusp of all time high while gold miners have sold off so strongly.
GDX is just a couple % away from being at the same sold-out area in October when gold was at $1810. This is unheard of.
 
pmbug said:
Hot or not?

image.thumb.png.faa1cc461b6d7cdcbda14078adc33072.png
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How do you say VERY MUCH INDEED! in Mandarin?
:D
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jelly said:
This is by far the most baffling gold market ever. Never has gold been at the cusp of all time high while gold miners have sold off so strongly.
GDX is just a couple % away from being at the same sold-out area in October when gold was at $1810. This is unheard of.
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In my mind I think its the last gasp of the lying, cheating bankers. They have just turned on the Naked Shorting Scheme (or the opposite when view say NVDA like stocks) to max and let the printer go bur. Taking as much as they possibly can before it all goes boom.
 
Today is Friday. I wonder if the FDIC takes NYCB into receivership before close of business...
 
Rafi noticed something odd and potentially concerning for Silver and the Comex OI. It's opposite of Gold.



OI Divergence.jpg

Someone had noticed a Bunch of new participants in the Silver comex market. Perhaps it was Ted Butler. I think this could be the good guys buying into the silver market preparing to crack this egg. Doesn't strike me as normal market behavior. There was a little similarity just before the black box ~Mar of 2023 but metals were near highs then.
 
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jelly said:
This is by far the most baffling gold market ever. Never has gold been at the cusp of all time high while gold miners have sold off so strongly.
GDX is just a couple % away from being at the same sold-out area in October when gold was at $1810. This is unheard of.
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Very undervalued. Chart from $250 Gold to present.


GF69WQObQAAm5Sj.png
 
Try dividing the HUA by the price of Gold going back that far. This low might be even lower. Yep, this makes 2001 look overvauled. Mining stocks are just simply not even reflecing realty at this point. Only 2015 had a brief worse valuation.

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Lancers32 said:
Closing in on buy points in the mining shares.
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I concur. But I would cost-average in. The Dem’s only have 9 months to engineer a False Flag/Black Swan event before the election.
This event will result in many stink-bids executing. Think like a Rothschild; pay Pennies on the dollar.
 
I hadn't seen this anywhere else but potential huge news. Is Mexico going to war with the rigging cabal? And i LOVE how they have couched the argument (and I am assuming they aren't really buying the environmental crap). Clearly this could be one reason why EXK and FSM among other miners are getting scorched. But ironically I think its really good for them in the long run, because they are just giving it away now and losing money for the privilege.

 
Expectations were for a big drop in the YoY consumer price index (from +3.4% to +2.9%) but instead it surprised to the upside (just as we warned) with a +3.1% YoY print for headline CPI (spoiling the sub-3% partiers). Consumer prices rose 0.3% MoM (more than the 0.2% exp) but the headline did decline from +3.4% to +3.1% YoY...
...
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CPI Prints Hotter Than Expected In January As SuperCore Soared | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com www.zerohedge.com

It's looking more and more like a rate cut in May might be optimistic. The Fed might not cut at all this year...
 
Voodoo said:
I hadn't seen this anywhere else but potential huge news. Is Mexico going to war with the rigging cabal? ...
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Here is the report that the video cited:
Mexican President Andrés Manuel López Obrador, known as AMLO, presented before parliament a series of constitutional reforms among which there is a proposal to modify Article 27 so that it prohibits open-pit mining.

In detail, his proposal calls for banning the granting of open-pit mining concessions and activities related to the exploration, exploitation, benefit or use of minerals, metals or metalloids using the open-pit method.
...
The motion is expected to revive hostilities between the Mexican government and big industry players, as the country’s oldest and largest mines are open-pit operations. In total, Mexico hosts 264 mines that extract surface minerals, most of them located in Chihuahua, Zacatecas, Sonora and San Luis Potosí.

Top producers such as Grupo Mexico’s Buenavista del Cobre, Newmont Goldcorp’s Peñasquito, two of Fresnillo’s gold-silver units, and several other mines owned by Industrias Peñoles are open-pit operations.
...
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More:

www.mining.com

Mexican president proposes ban on open-pit mining

AMLO presented a constitutional reform that prohibits open-pit mining.
www.mining.com www.mining.com
 
pmbug said:
Here is the report that the video cited:

More:

www.mining.com

Mexican president proposes ban on open-pit mining

AMLO presented a constitutional reform that prohibits open-pit mining.
www.mining.com www.mining.com
Click to expand...

Good list to know.

Top producers such as Grupo Mexico’s Buenavista del Cobre, Newmont Goldcorp’s Peñasquito, two of Fresnillo’s gold-silver units, and several other mines owned by Industrias Peñoles are open-pit operations.
 
Voodoo said:
Sure they will... after taking down a few banks or breaking something else.
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They have already signaled that they expect some regional banks to fail and they are cool with it.
 
The market will not be cool with that. Unless they are just ready to let this go to Hyper-Deflation. I don't see that happening but it's possible.
 
They will be absorbed for pennies on the dollar (likely by JPM) and life will go on. Maybe they have to implement a BFTP 2.0 or something similar, but I think they will hold the line on rates from what they have been saying.
 
pmbug said:
They will be absorbed for pennies on the dollar (likely by JPM) and life will go on. Maybe they have to implement a BFTP 2.0 or something similar, but I think they will hold the line on rates from what they have been saying.
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Exactly what I’m thinking. It always surprises me that “The Market” prices-in rate cuts and and other illogical speculations.
Then when these fantasies of theirs don’t pan out, panic hits the streets.
 
4 bottoms at this level. Use stops if this level doesn't hold it could be a very long way down.


SILJ_2024-02-13_14-10-42.png
 
Last I looked Dow broke below it's 20 day. QQQ still holding up so far. See what tomorrow brings. Yesterday bought SQQQ calls. Saved me today. Nice insurance policy. The day would have been much worse without them.

QQQ numbed off the 20 day and sqqq bumped up against it and pulled back at the close. If they break that 20 day then I'll get back in.

Miners I still say could pullback to march 2020 lows. As Lancers said, we are at a key level in silver right now. If that doesn't hold then look out below.
 
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