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wrap-upThursday Afternoon Wrap-Up 11/15/2012
Andrew Hoffman

In May 2002, I bought my first mining stock - Newmont Mining - at somewhere around $12/share. It was a tiny purchase, and I have no recollection of when I sold it - or at what price. However, by late 2002 I was "loaded up" with mining shares, and reading reams of analysis and commentary about the Precious Metals sector.

 

When 2003 arrived, I was already a "veteran" of the Cartel wars; having rapidly learned the lengths they'd go to suppress PM prices and sentiment. Thus, when I came across the good people at GATA, I knew I had found a "home team" to ally with.

 

From then on, I became a regular contributor; eventually deemed "Ranting Andy" by Bill Murphy himself. That name was more the result of my "offline" emails - spewing virulent venom about Cartel attacks - than the more even-keeled commentary Bill published. You see, when one is fully invested in Cartel-targeted mining shares, it is much easier to lose one's mind. Heck, look at the past two weeks alone, in which the HUI is down 14%...

 

hui   

...and the TSX-Venture - the best proxy for junior miners - 8%...

 

cdnx   

...in the latter's case, on the verge of breaching the neckline of a MASSIVE, three-year "head and shoulders top" pattern...

 

cdnx   

...while over that same two-week period, gold prices are unchanged...

 

gold   

... silver prices are modestly higher...

 

silver   

...and the Dow is down 5%...

 

indu   

 

In other words, anyone that bought mining shares seeking to PROTECT themselves against calamity found that not only did mining shares NOT rise with gold and silver; but were the market's WORST PERFORMING SECTOR.

 

Such action has been consistent for the past 5+ years; yet, when I read the GATA site today, I see people I respect greatly still complaining about mining shares; wondering WHY they won't rise. And, better yet, forecasting they are "about to soar" for the millionth time.

 

I may still write PASSIONATELY, but compared to how I used to be, I am hardly a "ranter." This change - which saved my life, in so many ways - is ALL due to the best decision I ever made - roughly 18 months ago - to sell ALL my mining shares and go 100% PHYSICAL.

 

Per yesterday's RANT, "MINING SHARES REDUX"; only you know the optimal allocation of your portfolio. However, if this month doesn't convince you mining shares are "marked for death" by the Cartel, I don't know what will...

  

cde  

iag   

 

Back to today, the name of the game was EXACTLY what I was "shouting from the rooftops" throughout October. That is, the emergence of REALITY following the November 6th conclusion of "ELECTION LOCKDOWN."

 

Not that TPTB aren't manipulating ALL markets, ALL the time - as I will shortly demonstrate. However, at some point the "DEFCON 1" interference level had to ease off; and each time it does, the result is carnage.

 

Some might say it's a "coincidence" so much bad news emerged directly after the election; and frankly, I'm 100% ABOARD with that theory...

 

Is Anyone Surprised? - Bill Holter, Miles Franklin

 

I mean, TPTB spent the past month telling us how much things are "recovering" - albeit, as they simultaneously announcedQE3; yet, one week after the election, the Philly Fed Index plunges...

 

 

"Ranting Andy" Hoffman
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