Monday, November 29, 2010

A Very Encouraging Day

Wow! The Turd is excited. Today was a very encouraging, positive day in gold. CNBS and other media will report that gold closed slightly higher but you, dear reader, should know otherwise.

In the face of a significant physical supply squeeze, the Evil Empire has tried on three occasions since last Friday to raid the gold and silver markets in an attempt to scare off weak-handed longs. To Blythe's considerable chagrin, it hasn't worked! Even in the face of a 1.30 rally in the USDX, it hasn't worked!
HAHAHAHAHAHAHA! Eat it, Blythe! Take a look at this 30-minute chart:
Note that our buyer(s) of size show up, as if on cue, to stop the declines at subsequently higher levels. The speed of the rebound shows the size of the orders which caused it. The BoS are determined to use any and all dips to add to positions.

As I type, Dec10 gold is at 1369 and Dec10 silver is at 27.20. Both are butting up against EE-constructed resistance at those levels. I fully expect the resistance to give way either later today or overnight as the PMs continue to trade on the Globex. By tomorrow at this time, gold should have approached the critical 1375-85 level and silver 28-28.20. If not tomorrow, certainly Wednesday. Too much POMO to hold it back and the USDX rally/dead cat bounce looks to have run its course at 81.50.

Lastly, Jim Sinclair likes to link to a blog by a guy named Eric De Groot. I've done the same below as Eric provides charts of gold priced in every single, major fiat currency. You can plainly see that the desire to own gold is a global phenomenon. The fallacy of chart-reading topcallers like Prechter lies in their reliance upon the charts of gold priced only in dollars. The fact that Prechter ignores these other currency charts in his "analysis" exposes him as either a clueless dope or a charlatan. I'll let you, my dear reader, pick which option suits him best.

http://edegrootinsights.blogspot.com/2010/11/gold-is-worlds-premier-currency_27.html

I'll try to check in again later this evening. Until then, I've developed a habit of adding extra thoughts in the "comments" section of my posts. Be sure to always check there if you're looking for updated opinion.

Oh...and one more thing. I've reluctantly added a couple of Google ads to the site in a blatant attempt to compensate myself for the time I'm spending keeping things current. If you appreciate the quality of what I'm trying to do here, please remember to click through to one of the "advertisers" when you leave the site. Thanks! Turd.

22 comments:

  1. Turd, as requested, I just clicked on of of the google ads...perhaps you should consider a members only service with a reasonable monthly rate. I'm all in!

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  2. Hi Turd,

    I really enjoy your site and commentary and this is one of my main daily gold sites I visit along with JS Mineset, lemetropolecafe, Dave from Denver, King World News, and Harvey Organ. In addition to the Google ads, have you thought about adding a donation link to help compensate for your time. I am sure a few of your readers, including myself, would be more than happy to chip in.....

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  3. It almost seems the broad market is affected by what's happening in the silver market. In order to rig silver price, EE has to take the entire market down along the way.

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  4. CMT & hester: Thank you for the compliments. I've always thought the "support our site Tip Jar" was kind of cheesy but its an honor to think that someone would part with some hard-earned cash in order to say thanks.
    Maybe if things get even busier I'll give it some thought.
    The site has been "live" for 18 days and we've had an incredible 58,000+ pageviews. I'm so flabbergasted that I'm speechless. Thanks for playing along.

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  5. Got a Groupon deal myself...anyway, Turd, thanks for the effort. And look for more COMEX margin increases...

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  6. I hear ya, TJ. At this point, any margin increase is simply an attempt to dissuade the purchase of physical silver through the Comex. The Death Star is badly wounded and smoking. The Empire will surround it with defenses to protect and defend it.

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  7. Do it, Turd. Set up a donations link and I'll chip in a buck or two, no problem. Hey, if I can drop 40 quarters into a giant bubble gum machine (recently done), trying to complete a collection of miniature psychotic clown figurines, then I've obviously got no problem ponying up a buck or two as a way of saying "thanks".

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  8. Thanks for spending the time to share, TF. One potential alternative means of generating revenue:
    http://web.blogads.com/publisher_html
    No connection or warranty implied, but they do specialize in selling ads for blogs.

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  9. +1 to hester and CMT's comments. I routinely donate via Paypal to sites that provide valuable information. Note that some people won't do this because of privacy concerns though so offering a variety of means to contribute is preferred (AdSense, Paypal donate link, Amazon donate link, etc). Setting them up is easy to do.

    Here's a primer on setting up a Paypal donate button: https://www.paypal.com/us/cgi-bin/?&cmd=_donate-intro-outside

    If you need help with setting this us or similar issues, drop me a line. I'm happy to help.

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  10. Hey Turd, Thanks for your site! As a web developer I want to caution you on encouraging readers to click on ads. We tried that and got downgraded by google so any click through was worthless. Little avenue for appeal with Google.

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  11. Your doing a fine job. I would donate.

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  12. Do margins even matter at this point? According to Harvey Organ, Friday was put-up-the-funds-day for Dec delivery.

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  13. This isn,t about taking down the market so much,more about a battle for the very survival of a rigged and manipulated market that has been a Golden meal ticket for many elites for many years.Sooner it explodes the better.Buy a Silver Coin and make a Bankster work for a living.

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  14. adding another recommend for a "tip jar" Turd!
    make it flexible enough that folk can use PayPal type donations, and I'm sure you'd find it fillin' up fast - I'd donate, and others would as well.
    I'm sure I wasn't the only one to pass on your site details over the long weekend ^^ - imagine this week would see some growing interest too!

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  15. Hi Turd,hope your ok mate.Goldenballs,alias Bob off ZH.The wheels are certainly coming off the Evil Empire,as the song said,
    "Got 3 wheels on my markets and I,m still going along .............. Got 2 wheels on my markets and I,m still going along .... etc,etc,"

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  16. Hi, Bob.
    Can't wait to hear from Harvey this evening. Should have something in about two hours.

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  17. Silveraura: Thanks for the referrals.
    Yes, today is the biggest traffic day yet. Almost 6,000 total pageviews! May not sound like much but I've been assured that for an 18-day old blog, that's pretty good.
    Thanks from Mrs. Ferguson and I to all who've participated!!

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  18. I'm sure she appreciates 'Mrs Ferguson' rather than 'Mrs Turd'. Ahhh, a bit of Sophmoric humor takes me back....

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  19. 6,000 page views a day is pretty good. More than my coin dealer site.

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  20. Turd, done and done on the ads, pop over to my blog, www.arum-geld-gold.blogspot.com. I opine on the hard assets in general. I mostly trade the picks I offer up.

    Scoop up some Uranium stocks, they are ignoring everything and pushing higher.

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  21. eToro is the #1 forex broker for novice and pro traders.

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