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Significant Digits For Wednesday July 29 2015

You’re reading Significant Digits, a daily digest of the telling numbers tucked inside the news.1 coachThat’s the number of female coaches in the NFL after Jen Welter was hired by the Arizona Cardinals as an assistant coaching intern. The NBA also has one female assistant coach, while MLB and MLS have no female coaches. As my colleague Leah Libresco tweeted: “We were going to graph the share of female coaches in men’s sports, but the bars were too small to see.” [FiveThirtyEight]4 jokesConan O’Brien is being sued for stealing jokes from Twitter. A man who says he was a longtime writer for Jay Leno claims an airline joke (wow, I’m laughing already) as well as jokes about Tom Brady, Caitlyn Jenner and the Washington Monument were pilfered from his feed and used on O’Brien’s show. Conan’s production company believes the suit is without merit. Coco, I’m gonna do you a solid: I’m tweeting a joke right now, just for you. I waive all rights, please feel free to use it in tonight’s monologue. [The Hollywood Reporter]8 farmsI’ve got my tent firmly pitched in the pro-cilantro camp, but my allegiance is being tested. The FDA has banned some cilantro imported from Mexico after investigators discovered “human feces and toilet paper in and around growing fields.” Eight of the 11 farms and packing houses investigated in the Mexican state of Puebla had “objectionable conditions” and five were linked to hundreds of outbreaks in the U.S. of cyclosporiasis. [CNN]15 percentShare of Americans who do not use the Internet. They must be so happy. [Pew Research Center]63.5 percentHomeownership in the U.S. is at a 48-year low. The seasonally adjusted homeownership rate is now 63.5 percent, down from pre-recession highs of above 69 percent. Both the homeowner and rental vacancy rates, however, have also fallen. This means a tight housing market — to which I can anecdotally attest, having recently hunted for an apartment — and a possible boon to the economy in ensuing construction. [The Wall Street Journal]200 to 400 feetAmazon has proposed that some prime (get it?) airspace, from 200 to 400 feet off the ground, be reserved for high-speed drones. The company has visions of one day delivering its packages by drone. [The Guardian]10,000 textsTom Brady’s four-game “Deflate-gate” suspension has been upheld by the NFL. In a statement on the decision, the league said Brady had destroyed his cellphone, despite investigators’ requests to access it. The phone had been used to exchange 10,000 text messages over four months — or just more than 80 texts a day. Even still, Brady’s got nothing on the 18 to 24 set — those kids send and receive more than 125 texts a day! [The Washington Post]$50,000 in bunny careAfter 103 rabbits were seized from her home, a Brooklyn woman has been ordered to pay $50,000 for their care. The bunnies had become celebrities in their neighborhood. [New York Post]$2 million a yearYou have to pay about $1,500 to license the song “Happy Birthday.” Yeah, that “Happy Birthday.” Two filmmakers upset by that fact have uncovered evidence that they say negates Warner/Chappell Music’s 1935 copyright and puts the song in the public domain. The copyright has at some points netted its owners about $2 million a year. [Ars Technica]304 million core usersTwitter’s stock price slumped more than 11 percent Tuesday, after slower than expected growth in its average monthly users. The company said it now has 304 million “core users.” That’s up from 302 million last quarter, but the growth was the slowest since the company went public. [Reuters]Don’t worry, Walt Hickey’s return is nigh. But today, for those of you who a) use the Internet and b) are on Twitter, if the significance of a digit moves you, please tweet it to me @Ollie. And have a super Wednesday!If you haven’t already, you really need to sign up for the Significant Digits newsletter — be the first to learn about the numbers behind the news. read more

Ohio State mens basketball hoping lessons from practice carry over vs Northwestern

OSU redshirt sophomore center Trevor Thompson (32) during a game against Maryland on Jan. 31 at the Schottenstein Center. OSU lost 66-61. Credit: Muyao Shen | Asst. Photo EditorOf all the Ohio State men’s basketball team’s games this season, its matchup against Northwestern on the road on Jan. 6 might best encapsulate the issues plaguing it. On that evening, redshirt sophomore Kam Williams came off the bench to ignite the otherwise struggling Buckeyes en route to a 65-56 victory. The guard had 21 points on 5-of-9 shooting from 3-point range. The next-highest scorer was redshirt sophomore center Trevor Thompson, who had 12 points. And besides Williams’ career-high performance from downtown, no other Buckeye made a 3-pointer. What the game showed about the whole season is a lack of consistent performances, resulting in a continuous reliance on a new unsung hero nearly every night to rescue the team. Against Indiana and Rutgers, it was freshman guard JaQuan Lyle. Sophomore forward Keita Bates-Diop propelled the team with a 22-point burst against Penn State. The first game versus Maryland it was no one, then sophomore forward Jae’Sean Tate shouldered the load in the rematch.  Thompson took his turn in the victory over Illinois on Jan. 28 when he scored a team-high 16 points. It’s not that scoring by committee is necessarily a bad thing for a basketball team. In some ways, it’s a plus for the Buckeyes that they have myriad players who can step up and score. But the lack of a go-to scorer to count on through thick and thin is seeing its effects on the Buckeyes. It perhaps might explain why one night OSU looks like a threat to challenge for a Big Ten title and on others, a team destined for the National Invitational Tournament. OSU coach Thad Matta acknowledged that a lack of steadiness has hampered his team, but as the Buckeyes get ready to welcome Northwestern for a rematch Tuesday at 8 p.m. at the Schottenstein Center, he said he’s hoping for a change.  “We’ve talked about everybody coming in being dialed in, being focused, whether you’re in the game or out of the game,” he said Monday. “Whatever we’ve got to do to get that consistent effort across the board is what we’re after.”That unwavering performance might happen against the Wildcats, the coach said, if what has been displayed at practice lately shows itself come tip-off. In practice, a litany of roster combinations have been used. None of them have had any “rhyme or reason,” Matta said. These random practice assignments are done in an attempt to bring as much hustle, energy and effort as possible instead of just having the starters practice against the bench. “These guys have worked their tails off,” Matta said. “I want to see the carryover from what we’ve been doing in practice.” If those things do carry over, Tate said he thinks the Buckeyes are in good position beyond just their game against the Wildcats. The 6-foot-4 sophomore said OSU hasn’t hit its stride quite yet, but if it does soon, it will have positive trajectory heading into postseason play.“We’re sitting right in that middle area of the Big Ten,” Tate said. “(Tuesday) versus Northwestern is a start, we could start a win streak, get some momentum going into these last couple weeks.”No loveAfter scoring in double figures in 12 of OSU’s first 15 games, including five performances of 18 points or more, junior forward Marc Loving seems to have lost his shooting stroke. In the Buckeyes’ last nine games, the Toledo native is averaging just 9.2 points a game, including six consecutive games of below 36 percent shooting. While speaking to the media Monday afternoon, Loving was noticeably dejected, consistently allowing Tate to answer a bulk of the questions. When he did speak, his answers were terse, his tone subdued. “The ball just isn’t going in the rim,” Loving said when asked to explain his struggles. “I feel like I’m taking decent shots, the ball just isn’t going down.” Matta offered a little more explanation for why he thinks his team’s most veteran player has been underperforming as of late. The coach said he thinks Loving has a propensity to carry mistakes with him. Rather than leaving a missed shot or turnover in the rear-view mirror, Loving continues to focus on them, he said, therefore clogging up his mind and making it difficult to break out of the slump. “He’s worked very hard the past few days,” Matta said, later adding, “I’m hoping, as a junior, he understands the ramifications of how well we need him to play.” Northwestern notesNorthwestern (16-8, 4-7) comes to Columbus feeling good after it curtailed its five-game losing skid on Thursday against Minnesota in emphatic fashion.The Wildcats throttled the Golden Gophers 82-58 to get back on the winning track for the first time since Jan. 12. Coach Chris Collins’ squad is powered by strong guard play from sophomore Bryant McIntosh and redshirt senior Tre Demps. They both average 14.8 points and 3.5 rebounds per contest. The duo likes to shoot a lot of 3-pointers, with more than 40 percent of Northwestern’s attempts coming from the two. McIntosh, who also distributes 6.6 assists per game, connects at a higher clip — 38 percent to Demps’ 28.“We’re definitely going to have to guard the 3-point line,” Matta said. A different wrinkle about the Wildcats this time around compared to the first meeting this season is that they will have senior center Alex Olah back on the floor. The 7-footer missed the Jan. 6 game, but since returning from injury, he’s shown flashes of the player who posted three 20-plus point performances early on. Matta said OSU will have to account for Olah’s presence on the floor, meaning Thompson and freshman center Daniel Giddens will be instrumental in the Buckeyes picking up the season sweep. Sometimes when a team has beaten an opponent already, the victor can relax heading into the rematch instead of placing the same importance on the game. Tate admitted this can happen at times, but he said the Buckeyes understand how crucial Tuesday’s tilt is.“We’ve got to come out with the same fire that we would any other team,” Tate said. “This one is vital in my opinion.”Up nextAfter taking on the Wildcats, the Buckeyes are slated to head east to Piscataway, New Jersey, to square off against Rutgers. OSU toppled the Scarlet Knights 94-68 on Jan. 13. Tip-off is set for 4 p.m. on Saturday. read more

Mens basketball Andre Wesson receiving treatment for medical issue Buckeyes optimistic he

Ohio State freshman forward Andre Wesson attempts a 3-pointer against Northwestern on Jan. 22 at the Schottenstein Center. Credit: Jacob Myers | Assistant Sports EditorThe Ohio State men’s basketball team could be dealt with a heavy blow as the Buckeyes might be missing forward Andre Wesson for an undisclosed period of time, a university spokesperson confirmed Wednesday.Wesson has been undergoing tests for a medical issue over the summer, which was first reported by Eleven Warriors.The university spokesperson issued the following statement to The Lantern:“Ohio State sophomore forward Andre Wesson has been undergoing testing and monitoring over the summer for a medical issue. Additional testing will be conducted in the coming weeks. The Ohio State men’s basketball program is optimistic Andre will be able to continue his athletic career with the Buckeyes this season.”As a freshman, Wesson averaged 11.6 minutes per game while appearing in 29 of the Buckeyes’ 32 games. The former three-star prospect averaged 2.3 points, 1.2 rebounds and 0.3 assists per game. He shot 36.5 percent from the field and 35.1 percent from beyond the arc, while succeeding on 53.6 percent of free throw attempts.Wesson is the oldest brother of freshman center Kaleb Wesson and the elder son of Keith Wesson, a member of the Ohio State men’s basketball team from 1982-1987. read more

SANDAG plan to cut 14 freeway and highway improvements to fund conversion

first_img KUSI Newsroom, Categories: California News, Local San Diego News FacebookTwitter 00:00 00:00 spaceplay / pause qunload | stop ffullscreenshift + ←→slower / faster ↑↓volume mmute ←→seek  . seek to previous 12… 6 seek to 10%, 20% … 60% XColor SettingsAaAaAaAaTextBackgroundOpacity SettingsTextOpaqueSemi-TransparentBackgroundSemi-TransparentOpaqueTransparentFont SettingsSize||TypeSerif MonospaceSerifSans Serif MonospaceSans SerifCasualCursiveSmallCapsResetSave SettingsSAN DIEGO ( KUSI) – Recently, San Diego County’s regional transportation planning agency, SANDAG, released a plan to cut 14 freeway and highway improvements and shift all of that money into “transit” for downtown San Diego and to fund conversion of road lanes to dedicated bike lanes.SANDAG and its subsidiary MTS also propose higher taxes: both a massive Sales Tax hike and a “Congestion Tax” for anyone wanting to use the roads with all that money going to transit, not roads.Despite a recent poll that even shows voters in the heavily urban areas of the City of San Diego overwhelmingly oppose these proposals by a whopping two-to-one margin, SANDAG and politicians continue to push Road Repair Raids and the Congestion Tax forward.Carl DeMaio hosted a town hall to engage San Diegans about the issue and continue to fight back against the politicians who want to push these road raids. Posted: June 25, 2019 June 25, 2019 SANDAG plan to cut 14 freeway and highway improvements to fund conversion of road lanes to dedicated bike lanes KUSI Newsroom last_img read more

Google Doodle honors classroom heroes for Teacher Appreciation Week

first_img Tags Our wishlist for Google I/O 2019 3:13 Post a comment 0 Now playing: Watch this:center_img Originally published May 6, 6:03 a.m. PT.Update, at 6:32 a.m. PT: Added details about Google grants for teachers, 8:52 a.m. PT: Added more details about Rodney Robinson. Share your voice Google had almost 60,000 doodles to choose from for Teacher Appreciation Week. Google Google is celebrating teachers on Monday. If you check out the search engine’s page, you’ll see a crayon-style Google Doodle surrounded by pencils, protractors, apples, puzzle pieces and other school-related images.”Today’s Doodle was created in partnership with the 57 2019 US State Teachers of the Year who visited Google in January for their first group meeting and explores the theme ‘A day in the life of a teacher,'” Google said in a blog post.In honor of Teacher Appreciation Week, Google said it’s making one its largest teacher-focused grants — a $5 million Google.org grant that’ll unlock $10 million for teachers through DonorsChoose.org. For every dollar that’s donated to the nonprofit, Google will add 50 cents, from Monday to Tuesday, up to $1.5 million total. Rodney Robinson, 2019 National Teacher of the Year, created the doodle. Robinson said he went into teaching to honor his mother, Sylvia Robinson, who was denied the opportunity to become an educator because of poverty and segregation. Instead, his mother opened an in-home daycare center for children in the neighborhood and taught in a different way. Today, Robinson teaches social studies in a juvenile detention facility in Virginia. “I work to create a positive school culture and empower my students to become civically minded social advocates,” Robinson said.When he was chosen as Virginia’s Teacher of the Year, Robinson said he was “elated.”  “Google’s homepage today is a tribute to teachers, and I feel proud to see the contribution I made — alongside my 56 fellow State Teachers of the Year — up there for everyone to see,” Robinson said in a blog post. Teacher Appreciation Week was trending on Twitter Monday morning as thousands took to social media to celebrate educators.Even with that sort of recognition, teachers often find themselves in a tough situation, living on modest salaries while running classrooms with a lack of resources and having to purchase supplies out of pocket. Over the last year, those working conditions have led to walkouts, sickouts and strikes. Internet Culturelast_img read more

Homicides on the Rise District Struggles to Cope

first_imgHamzat Sani, Special to the AFROLate Tuesday Mayor Muriel Bowser gathered several of her agency heads to address a 50 percent increase in homicides since last year and spike in violence over the Memorial Day weekend, which claimed the lives of 4 district residents and saw another 10 wounded by gunfire. Bowser addressed a crowd of media and a few community members outside of the Department of For-Hire Vehicles on Shannon Place Southeast with a mural of the late Mayor Marion Barry serving as backdrop for what was at times a testy press conference.In a Monday press release Mayor Bowser said, “Over the weekend, we deployed additional police and non-law enforcement resources to communities in Wards 7 and 8 experiencing an increase in violence. While an enhanced police presence can help keep residents safe, we know that policing alone will not put a permanent stop to the violence in our communities. We ask residents to partner with us by reporting any criminal activity and send a clear message: violence will not be tolerated.”Concerned residents gathered on Memorial Day to discuss the alarming uptick in violence.The release noted that the Metropolitan Police Department (MPD) increased staffing levels to nearly 25 percent in the Sixth and Seventh Districts in addition to partnering with the Narcotics and Special Investigation Division, the Special Operations Division, and the Homeland Security Bureau to add additional personnel over the weekend.On the non-law enforcement side the administration activated the Safer Stronger Office of Neighborhood Safety and Engagement, the Department of Youth Rehabilitation Services’ Credible Messengers, and the Department of Parks and Recreation’s Roving Leaders in Wards 5, 7 and 8.   The Court Services and Offender Supervision Agency, tasked with monitoring all adults on supervised release, will conduct check-ins throughout the week with individuals on probation and parole in the District.Bowser acknowledged the frustration of community members subject to continued violence noting a gathering of about 200 residents at a Community Planning Meeting held at the Check It Enterprises Event Space on MLK Jr. Ave in Anacostia.  The meeting held on May 28 to address the Ward 8 violence crisis included remarks from Councilmembers Trayon White and Kenyon McDuffie focused on community oriented approaches to curbing the spike in violence.At Large Council candidate Marcus Goodwin who was present at the gathering said, “People are frustrated with the lack of community and parental engagement to stop systemic violence; as well as the public safety climate that our law enforcement officials and elected leaders have allowed to persist for generations.Both Bowser and MPD Chief Peter Newsham called for continued community involvement in taking illegal guns off the street and bringing crime suspects to justice.Newsham went on to provide details on 3 homicide suspects: 17 year old Kaevon Sutton, 16 year old Daquan Gray; and Alonzo Lewis. The 33 year old Lewis is wanted in connection with the double homicide, this past Saturday, of  40-year old Jaquon Helm of Southwest, D.C. and 35-year old Venius Badgett of Southwest, D.C. MPD offers a reward of up to $25,000 to anyone who provides information that leads to the arrest and conviction of the person or persons responsible for any homicide committed in the District of Columbia.One of the victims of this weekend’s rash of violence was the owner of District Culture in Anacostia. Alexander Mosby was a husband, father and respected member of the community he loved, grew upon and sought to serve.“Many of the homicides that we are seeing in the city are these minor disputes that evolve into shootings and homicides because of the introduction of an illegal firearm into the incident,” Newsham said.The Tuesday press conference marks the first time back at the podium since she was granted adoptive custody of a little girl. The Mayor ended the press conference noting that while a little tired she felt lucky to have her little girl.“The thing that I enjoy the most is looking down at those little eyes looking back at me.”last_img read more

US broadband households that own a streaming media

first_imgUS broadband households that own a streaming media device watch more video on TV on average than homes without one of these devices, according to Parks Associates.The research firm claims that US streaming device households watch an average of 22 hours of video on TV sets per week, compared to 18 hours per-week for homes with no such device.Streaming device homes watch six hours per week of internet video on the TV, compared to three hours among non-owners, but only eight hours of broadcast TV compared to 10 hours for households without a streaming media device, according to Parks.“Adoption of streaming devices, combined with an increasing supply of OTT options, has altered the video environment, demanding new business models in advertising, content creation, and video subscriptions,” said Brett Sappington, director, research, Parks Associates.last_img read more

Cllr Mickey Cooper SINN Féin Councillor Mickey Coo

first_img Cllr Mickey CooperSINN Féin Councillor Mickey Cooper has branded as “disgusting” the trail of destruction left behind at the Creggan Country Burn walk way.He said: “I was contacted by a local resident who would use the park on a daily basis and its the first time they have seen anything on this scale.“The contents of the bins were strewn across the walkways with broken class and rubbish everywhere.“A newly installed dog waste bin was ripped from its fixtures , with its contents all over the place.“I have been in contact with the council to try and get the area cleaned up and repairs carried out as soon as possible due to health concerns particularly with the dog waste bin. ShareTweet “It’s disgusting that anyone would do this sort of thing to a public amenity, which the people of the greater Rosemount area have been waiting on for years.”VANDALS CAUSE TRAIL OF DESTRUCTION AT CREGGAN COUNTRY BURN was last modified: December 5th, 2016 by John2John2 Tags:center_img COUNCILLOR MICKEY COOPERROSEMOUNT AREASinn FeinVANDALS CAUSE TRAIL OF DESTRUCTION AT CREGGAN COUNTRY BURNlast_img read more

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first_imgSponsor Advertisement I’m only speculating here, but I would guess that JPMorgan et al were covering short position like mad in all precious metals yesterdayWell, that little uptick shortly before 10:00 a.m. in London yesterday morning turned out to be the high of the day for gold.  If it made it above the $1,600 spot level, it was only for a few seconds before the buyer[s] ran into an avalanche of selling from the usual not-for-profit suspects.It was all down hill from there, of course…but the gold price managed to open the Comex trading session in the black by a few bucks, but that lasted less than five minutes before the high-frequency traders showed up and began to engineer the price lower.The most ferocious part of the price decline started at 10:30 a.m. Eastern time…and in well under twenty minutes, the gold price cratered for another fifteen bucks.That proved to be the low the day at $1,570.70 spot…and from there a nice rally began that took the gold price back to over $1,592 spot.  But that was as high as it got…or was allowed to get…and the gold price slowly drifted lower until shortly before 4:00 p.m. Eastern time…and from there traded flat into the 5:15 p.m. electronic close.Gold finished the Tuesday session at $1,582.40 spot…down $6.20 from Monday.  It should come as no surprise that the volume figures for Tuesday were 50% higher than Monday’s, as net volume was around 129,000 contracts.It was precisely the same story in silver…except the price was more ‘volatile’.  Silver’s high…around $27.65 spot…came at the same time as gold’s…shortly before 10:00 a.m. in London.  Silver was still up about a dime at the Comex open until the high-frequency traders showed up at 9:40 a.m….and then again at 10:35 a.m. Eastern time.The low in silver [$26.68 spot] came at the same as gold’s low.  The subsequent rally took silver back above its Monday close and the Tuesday opening price on the Comex…and the New York high of the day.  But that wasn’t allowed to last, and silver closed the trading session at the same closing price as Monday…$27.31 spot.  What was the chance that that was a coincidence?  Net volume was also 50% higher than Monday’s volume…with 36,000 contracts traded vs. 23,000 contracts traded on Monday.The dollar index didn’t do a whole heck of a lot during Far East or London trading on Tuesday.  It was down about twenty basis points in early Far East trading…but then rallied back to basically unchanged by the 8:00 a.m. London open.  From there it more or less traded sideways until exactly 10:00 a.m. Eastern time, which also happened to coincide with the time of the London p.m. gold fix.Then, in the space of about forty minutes, the index rallied about 40 basis points.  The dollar index high tick just coincidentally happened to coincide with the low of both gold and silver in New York yesterday morning.From that high, the index got sold off…giving up all its gains and more by 4:00 p.m. Eastern time.  From there, the dollar index traded flat into the close, finishing the Tuesday trading session down about 15 basis points at 82.92.I’d like to say that yesterday’s sell-off in the precious metals was all currency related, but that certainly doesn’t explain the decline in both metals that began at 10:00 a.m. in London…and which continued right up until 10:00 a.m. in New York.  A large chunk of the dollar index rally was in the bag before either gold or silver got sold off hard…and it’s my opinion that they didn’t fall off the turnip truck at 10:30 a.m. Eastern on their own…they got pushed.The gold stocks actually spent a few minutes in the black after trading began in the equity markets in New York yesterday morning.  But that didn’t last too long..and from there they got sold off over two percent to their low at 10:40 a.m. Eastern time.  Then they rallied sharply until a few minutes after 12 o’clock noon…and then traded sideways from there.  The HUI finished down 0.97% on the day…and back below the 400 mark.There was the odd green arrow in the silver stocks yesterday…but they closed mostly down on the day…but Nick Laird’s Silver Sentiment Index actually finished the Tuesday trading day up 0.56%.  Considering the closing price of the seven big cap silver stocks that make up this index, I found this very hard to believe…and I told Nick that.(Click on image to enlarge)The CME’s Daily Delivery Report showed that 2 gold and 436 silver contracts were posted for delivery on Thursday.  The big shocker, at least for me, was that the big short/issuer was JPMorgan in its in-house/proprietary account.  They’re delivering 426 contracts.  The biggest long/stopper was the Bank of Nova Scotia with 324 contracts…along with 63 contracts for JPMorgan in its client account…and 43 contracts for ABN Amro.  The Issuers and Stoppers Report is definitely worth looking at…and the link is here.There were no reported changes in either GLD or SLV…and the U.S. Mint didn’t have a sales report either.Over at the Comex-approved depositories, they reported receiving 599,779 troy ounces of silver on Monday…and shipped 906,225 ounces of the stuff out the door.Ted Butler pointed out to me yesterday that Sprott’s Physical Silver Trust [PSLV/PHS.U] has already reported receiving around 5.2 million ounces of the silver that it had ordered.Here’s an e-mail that I received from reader Eddie Costik yesterday…and it’s pretty much self-explanatory…Ed…”I have news for you….the home industry in the U.S. is finished as we know it. Retail sales for home improvement were down 1.6% for the month of June. I’m still in touch with wholesale distributors of building materials…nobody in that industry is making any money. My small retail lumber company is only one of five remaining in a five county area of Central Pennsylvania. Everyone is struggling. The halcyon days from the past are over. Mortgage rates are at all time lows but very few can qualify because of stringent qualification requirements. There are so many foreclosures that banks are holding them off the market so they don’t have to write them down. If Obama gets his way…. eliminating the Bush tax cuts we’re headed for an economic abyss. Then again how much worse can it get? A lot. Hold onto your behind this is not going to end well.” It was a very slow news day yesterday, so I’m delighted to report that I don’t have much reading material for you…but there are quite a few of the ones that I do have, that are well worth your time.As investors begin to realize that gold has not peaked, and that today’s “high” prices are actually just a step on the way up, I expect more of them to pile into the gold sector. The pressure to find sectors and companies with a good return will send Main Street investors, Wall Street fund managers, and sovereign wealth funds into our market. The spectacle will be, as Doug Casey likes to say, like trying to pour the contents of the Hoover Dam through a garden hose. – Louis James, Senior Metals Investment Strategist, Casey ResearchThere’s not much one can say about yesterday’s price action in all the precious metals except to say that we’ve seen this particular movie lots of times in the past…an engineered price decline behind a manufactured rally in the dollar index.As I mentioned in my closing remarks in ‘The Wrap’ yesterday…Tuesday was the cut-off for Friday’s Commitment of Traders Report, so I was prepared for anything as far as price movement went…and this price pattern didn’t surprise me one bit.I’m only speculating here, but I would guess that JPMorgan et al were covering short position like mad in all precious metals yesterday…and going further on the long side as well in the subsequent rally, which had all the hallmarks of a short covering rally.  I am hopeful that all this price action will show up in Friday’s COT report…and it should be obvious to anyone that the ‘powers that be’ want gold below $1,600 spot for as long as possible.It was gratifying to see John Hathaway come out of the closet and state that ‘da boyz’ are obviously managing the gold price…just as they are managing the LIBOR.  I would suspect that Eric King will have the audio interview of that blog posted on this website sometime today…and I will be posting it this space as soon as it becomes available.Not much happened in Far East trading during their Wednesday…and it’s pretty much the same now that London is open.  Volume is light in both metals…and the dollar index is not doing a thing, either.I haven’t a clue as to how gold will trade during the Comex session in New York today, but one can assume that the worse the news, the lower the gold price will be engineered.  As to when the precious metal prices break higher, it’s 100% up to JPMorgan et al…and when they decide to end their duties as a not-for-profit seller, it will be immediately apparent in the price…and not a moment before.I hope that your Wednesday goes well…and I’ll see you tomorrow. Bayfield Ventures Corp. (TSX.V: BYV) is exploring for gold and silver in the Rainy River District of NW Ontario. The Company’s 100% owned “Burns” Block property adjoins the immediate east of Rainy River Resources’ (TSX.V: RR) world-class gold deposit which includes an indicated resource of 5.72 million ounces of gold, averaging 1.18 g/t, in addition to an inferred resource of 2.25 million ounces of gold, averaging 0.79 g/t. Drilling to date on Bayfield’s Burns Block demonstrates that the ODM17gold zone extends from Rainy River Resources’ ground onto the Burns Block. Bayfield is currently carrying out 100,000 metres of diamond drilling on its Rainy River properties. Drill results thus far have been very encouraging. Notable drill results include 60.05 grams per tonne gold and 362.96 grams per tonne silver over 11.2 metres within 26.70 grams per tonne gold and 170.69 grams per tonne silver over 25.5 metres, as well as 35.93 grams per tonne gold and 359.65 grams per tonne silver over 10.0 metres. Bayfield also holds a 100% interest in two other properties in the Rainy River District. Claim blocks “B” and “C” are well located to the immediate east and west (respectively) of Rainy River Resources’ #433 and ODM17 gold zones. Please visit our website to learn more about the company and request information.last_img read more

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first_imgSponsor Advertisement I wasn’t amused that the precious metals shares got sold off as heavily as they did…Just eye-balling the Kitco gold chart below, it’s obvious to me that the gold price, despite several serious attempts to do so, wasn’t going to be allowed to break above the $1,720 spot mark anywhere on Planet Earth yesterday and, with the exception of the high tick of the day [$1,724.10 spot] at the London p.m. gold fix, it didn’t.The gold price finished the day at $1,716.00 spot…up a whole 80 cents from Friday’s New York close.  Net volume was very light at only around 108,000 contracts.Here’s the New York Spot Gold [Bid] chart on its own…and three of four of gold’s attempts to climb above the above mentioned price got turned back…and the glaring one is at the 3:00 p.m. GMT London gold fix…10:00 a.m. Eastern.Silver rallied right from the New York open on Sunday night…and its Far East high came around 10:00 a.m. Hong Kong time.  It was all down hill from there until the noon silver fix in London.That proved to be the low of the day.  The subsequent rally ran into the usual not-for-profit seller at the afternoon London gold fix…and that was it.Silver closed at $33.66 spot…up 22 cents on the day.  Net volume was a rather unexciting 30,500 contracts…give or take.The dollar index, which closed on Friday at 80.24, was under pressure right from the get-go in Far East trading on their Monday morning…which most likely explains the initial rally in gold and silver.The index sank under the 80.00 mark around 3:00 p.m. in Hong Kong…about an hour before London opened.  From there it kept declining in fits and starts…closing around the 79.89 mark…down about 35 basis points on the day.It was obvious that both gold and silver wanted to rally at midday in London…and at the Comex open…but it’s equally obvious that there were forces standing by to make sure that it didn’t happen.The US dollar index packed up on the ino.com Internet site around 9:00 a.m. yesterday morning…and as you can see, I stole the chart below from one of Peter Spina’s websites…goldseek.com…and I’m sure he won’t mind.As you are more than aware, the shares did very poorly yesterday…and the HUI finished down 2.33%.  The HUI from that yahoo.com website has been M.I.A. for many days now…and here’s one that Scott Pluschau offered up in its stead.(Click on image to enlarge)The silver shares fared little better…and despite the metal itself finishing well in the black, the shares got sold down pretty hard as well.  Nick Laird’s Silver Sentiment Index closed down 1.68%.(Click on image to enlarge)The CME’s Daily Delivery Report for ‘Day 3’ in the December delivery month showed that 1,906 gold and 712 silver contracts were posted for delivery on Wednesday within the Comex-approved depositories.In gold, the big short/issuer was Deutsche Bank with 1,741 contracts posted for delivery…and in very distant second place came the Bank of Nova Scotia with 162 contracts.  The big long/stopper in gold was JPMorgan Chase with 1,565 contracts…275 in its client account and 1,290 in its proprietary [in house] trading account.  There were about a dozen other small stoppers accounting for the rest.In silver, the big short/issuer was Deutsche Bank as well with 579 contracts…and JPMorgan, in its proprietary account, was in second with 106 contracts.  The biggest long/stopper was JPMorgan in its client account with 341 contracts.  Second was Barclays with 225 contracts…and third was Credit Suisse First Boston with 98.The Issuers and Stoppers Report is well worth a few minutes of your time…and the link is here.  Note the delivery info in palladium as well…Deutsche Bank, JPMorgan and Barclays.If you haven’t figured it out already, it should be patently obvious that JPMorgan is at the center of the precious metals universe.There were no reported changes in either GLD or SLV yesterday…and no sales report from the U.S. Mint, either.Over at the Comex-approved depositories on Friday, they reported receiving no silver at all…but shipped 458,050 troy ounces out the door.  The link to that activity is here.Washington reader S.A. had no charts for me today…but he more than made up for it by sending me a photo of the latest addition to the Oregon Zoo.Being a Tuesday column, I have a few more stories than usual for you today…and I’ll leave the final edit up to you.I have no doubt that the CFTC is publishing accurate data on COMEX silver. Without that data, I couldn’t begin to make a case for manipulation. The problem is that all the agency does is to publish accurate data that prove that silver is manipulated in price…and then refuses to react to the clear proof of manipulation. Due to a decrease in reported spread positions in this week’s disaggregated COT report, JPMorgan’s 38,000 contract silver short position “only” increased to 34.7% of the entire net COMEX short position from the previous week’s 34%. But the 190 million ounces that the 38,000 contracts represent is equal to 25% of the world’s total annual silver mine production of 760 million oz. If one trading entity was short 25% of the annual world production of any other commodity that entity would be in jail the day it became known. For that entity in silver to be a systemically important US bank is shocking in its own regard. In many ways, I admit that this is so extreme as to not be fully comprehendible. Believe me when I tell you that I can hardly comprehend that I label JPMorgan as crooked and get away with it. – Silver analyst Ted Butler… 01 December 2012Even though volume was pretty light in both silver and gold yesterday, it was obvious [at least to me] that the prices of both metals weren’t allowed to get far, even though the dollar index dropped below the psychologically important 80.00 mark.I wasn’t amused that the precious metals shares got sold off as heavily as they did…and I’ll quote a paragraph on this from my Saturday column…“I’d like to think that it’s strong hands buying all the shares that are falling off the table as weak-kneed day traders hit the ‘sell’ button…but I’m always concerned that “da boyz” are buying up all these shares in order to dump them later when they need to suppress the share prices as well.  I know that John Embry would be in total agreement with this scenario.  But maybe I’m looking for a black bear in a dark room that’s not there.”I leave it up to you, dear reader, to ponder the notion of whether or not there is any truth in that paragraph…for, or against.As you may remember, I’ve had correspondence with Scotiabank here in Canada about whether or not they were the bank that was fingered by the CFTC as the “non-U.S. bank” in their November Bank Participation Report.  All enquires sent by myself…and other readers…ended up with the same “non-denial denial” type of answer.So, on Sunday, I sent an e-mail off to the ombudsman at Scotiabank…and here is what I had to say…02 December 2012Mr. Charles DougallOmbudsmanScotiabankHi Charles,I’ve been trying to get an answer to a question that I asked of your firm a month or so ago.I started off with Andy Montano at Scotia Mocatta…and have since graduated to Rick Waugh…and got immediately passed off to Dave Shearim.  I have not received a direct answer, except for the usual ‘non-denial denial’…the normal runaround corporations give when they really don’t want to answer and are just trying to blow someone off.I’m not asking for trading secrets, or the trading positions of any client [in-house or otherwise] that may exist over at Scotia Mocatta…as I fully understand that this client privileged information.Here is the sequence e-mails as posted in ‘The Wrap’ section of my daily column over at Casey Research on November 6th…[There was a bit more to this e-mail than that at the end, but what you see above is the essence of what I sent]The reply I got back on Monday was as follows…Dear Mr. Steer, We acknowledge receipt of your email dated December 2nd. After a preliminary review of your email, we wish to inform you that there are certain issues that are deemed to be outside the mandate of the Office of the Ombudsman, which may include the issue(s) you have raised.  Having said that, we will make inquiries into your concerns and will respond to you further in due course. Yours truly, Marlaine Radke Assistant Ombudsman Scotiabank – Executive Offices 44 King Street West Toronto, ON  M5H 1H1 Telephone: (416) 933-3299 Fax:  (416) 933-3276And that’s where it sits at this point…and I’ll let you know the contents of any further correspondence that I receive, or send.  I get the impression from the tone of the reply, that I’m not going to get very far, but you never know.Both gold and silver came under selling pressure the moment that Far East trading began on their Tuesday.  Then, as you’ve already noted, the bid disappeared shortly before 2:00 p.m. Hong Kong time…or the high-frequency traders showed up…and the gold price dropped ten dollars in just a few minutes.  This decline occurred in all four precious metals.Since those lows, they have recovered somewhat…and their respective rallies have continued [in fits and starts] into the first hour or so of trading in London.  Whether these rallies will be allowed to continue is impossible to tell…but as I also said in my Saturday column, it’s a mug’s trying to predict what the precious metals will do price-wise when the heavy hands of JPMorgan Chase et al are in the market.The dollar index has been in a slow but steady decline all through Far East and the early London trading session as well…and is down about 23 basis points as I hit the ‘send’ button at 5:15 a.m. Eastern time.  Volumes are monstrous…over 45,000 contracts in gold…and 9,000+ in silver.  Fortunately, all of this…along with New York’s price/volume activity…will be in Friday’s Commitment of Traders Report, as the cut-off is at the 1:30 p.m. Eastern time Comex close today.And I suggest you re-read Ted Butler’s quote under the cartoons above to give you some idea of the meaning of “obscene and grotesque” when it come to a short position in the precious metals…especially silver.  Between JPM and Scotiabank…if they are the second big silver short…they hold a short position of over 45% of the entire Comex futures market in silver.  That was as of the Tuesday cut-off for last week’s COT Report…and it may have declined since.  But by how much, won’t be known until Friday.What the precious metals do price-wise is entirely up to them…and has nothing to do with legitimate supply and demand fundamentals.That’s more than enough for today…and I’ll be very interested in the price action in New York when I switch my computer on later this morning.See you tomorrow. Tosca Mining Corporation’s goal is to acquire advanced stage projects that can be placed into production quickly. The company’s primary asset is the Red Hills Molybdenum/Copper project located in Presidio County, Texas. A program to confirm, and expand the considerable size and potential of the project and evaluate various economic scenarios was completed in 2011. Tosca recently received results from the 13 remaining holes from its phase two, 16,000 M (4,873 m) diamond drill program. Per Tosca’s Chairman, Dr. Sadek El-Alfy, “the drill program has successfully verified historic drill results of the shallow Copper-Molybdenum cap and confirmed the presence of a deeper, well mineralized Molybdenum Porphyry deposit.” The results of 21 holes drilled through the copper/moly cap in Tosca’s 2011 drill program give a weighted average grade of 0.39 % Cu over a core length of 113 feet (34.5 m). Since the copper cap is subhorizontal, the average core length can be interpreted as being approximately equivalent to true width. The copper/moly cap is crescent shaped, approximately 4,000 feet (1220 metres) long and 400 feet (122 m) to 1000 feet (305 m) wide.The 2011 program encountered numerous thick  Molybdenum mineralized intervals including Hole TMC-25 wich  intersected 1,189 feet (362.4 m) averaging 0.089 per cent Mo including 830 feet (253 m) of 0.1 per cent Mo from 359 feet (109.8 m) to the bottom of the hole. Hole TMC-29 cut 989 feet (301.4 m) averaging 0.09 per cent Mo including 139 feet (42.4 m) of 0.16 per cent Mo. The molybdenum grades are similar and in some cases higher than those of projects currently considered of potential economic interest.”Aggressive plans are in place for 2012 to conduct metallurgical tests, produce an updated resource estimate and  Pre Economic Assesment. Tosca is operated by an experienced mine development team, operates in Texas, a  mine-friendly jurisdiction and its property iseasily accessible with infrastructure in place to advance operations. Please visit our website to learn more about the company ad request information.last_img read more