Thursday, February 3, 2011

Not Too Shabby

The old adage is: Anything given away for free is of little value. Here in Turd's World, I hope we've proven that every rule has an exception.

Well, what a day this was. What a week. What a great couple of months.
In the last two weeks alone, yours truly has given you a certain bottom in the PMs:
And a personally guaranteed price target:
I've warned you to expect great volatility:
I even ran the fool's errand today of calling a breakout rally:
But its not complicated. I explained how to do this yourself some time ago. So easy, a Turd can do it:

Now, you can say that I'm patting myself on the back and I suppose that, in a sense, I am. Show me anyone...any of these TA expert douchebags...that consistently gives people this kind of accurate info. For free, too! You and I both know that no one is ever 100% correct or even 80%. Blythe is still "in charge" to a great extent and she'll always reach up and bite me in the rear. But, for now, all I ask is that you tell everyone who know about the great seer, Turd Ferguson. The larger we can make this site, the more folks we can alert to the coming plague. So, please, spread the word. (and visit our sponsors) (and, if so moved, ponder the "donate" button, too)

Again, what a great, flippin day.
Check out this 5-minute silver chart. It shows what is perhaps the greatest, most wonderful FUBM of all time. What makes it so great is that it clearly shows both an FUBM and an FUTF...and the FUBM is twice the magnitude of the FUTF!!!
If you're trading, let this run a bit, up toward 29.40-50 or so before you book a few profits.
Gold looks great, too. Again, "support becomes resistance and vice versa". Look at how 1350 is already providing support in that gold twice touched that level post blastoff and bounced both times. As mentioned this morning, things will get sticky around 1360 and even stickier around 1370. That, however, will only be temporary and the ride back to 1400 will continue.
Thank you all again for making this site such a DESTINATION for PM-watchers worldwide. I will continue to provide the best information I can as long as you continue to provide the best, most informative comments sections. Keep the faith. We got em on the run now! TF

11:30 pm EST UPDATE:
A pretty quiet, consolidation trade this evening in the metals. They've both given back a little but after such a big day, that's to be expected.
Expect some more slight weakness into the 8:30 EST BLS BS report in the morning. Also, don't be surprised if the "headline" number surprises some. The reason I call it the BLS BS report in the first place is because the BLS so manipulates the number that its almost useless. Perhaps we'll get some nonsense "birth/death model" adjustments that, at first make the number look good. If so, we may see a quick drop in the PMs. The "market" is beginning to see right through this baloney, however, so if they try it, we'll probably snap right back higher. Either way...the U.S. economy stinks and it is simply bouncing along the bottom of our now 2.5 year contraction. All the QE in the world can't change that.
For a fun review of the past two BLS BS reports you can click these links. They'll probably serve as a good preview for tomorrow and maybe even provide you with a couple of laughs.

Thanks again for another great day. We just missed setting a new record for pageviews, coming in at 27,400. Coming up this weekend or perhaps on Monday, we're going to reach a rather significant milestone. Anyone want to harbor a guess?
Turd out.


  1. The back patting is well deserved, Turd.

    "What makes it so great is that it clearly shows both an FUBM and an FUTF...and the FUTF is twice the magnitude of the FUBM!!!"

    Shouldn't that be reversed? I.e., "...and the FUBM is twice the magnitude of the FUTF!!!"

  2. The Turd, Turd, Turd... Turd is the word!

  3. Pat yourself on the back turd!! Twas good calling and as I read reports of intensity boiling over the middle east; gold says not all right! Something under the surface going to blow this weekend!! Keep watching access market rise as buyers come in hard!! It's a tell, tell sign gold following through today above 1350 we have shorts on the run!!!!

  4. Finally. With price so coiled up, I was getting worried we were about to see a push DOWN again. I'll take moderate buying opportunity ($1325-50) with the trend in place, over a major buying opportunity ($1255 or below) with technical damage.

    Now let's see if gold can get to $1600 in short order, shall we?

  5. I've been reading this blog for over a month now and yesterday I decided it was time for my first ever BTFD, so I did. I never would have been able to do this without Turd's helpful guidance and abundant reading material provided. Thank you so much.

  6. Thanks Turd! That chart is great, made me laugh.

  7. Looks like silver is set to recapture the 50 DMA which will bring more strength buyers in.$SILVER&p=D&b=5&g=0&id=p39703036965

  8. Turd, the Asian Globex market (6pm EST) has been flat as can be this week, presumably because of the Chinese New Year.

    Do you think today's fireworks will carry over to tonight's action?

  9. I'm getting FUBM rich I tell you!

    I keep monitoring the futures contracts, we should all be praying that 8,700 contracts out of the 64,163 March 2011 silver contracts have the balls to stand for delivery, no matter what Blythe promises them for a premium, to wipe out the COMEX in what would be the greatest FUBM of all time!

  10. Beware the ides of March, Blythe. We are coming in silver chariots.

  11. Turd, you flat-out rock. Great day. HUI looks set to close up +3%, as well. I have 531.6 last with a 50 DMA of 545... so there is room to run for people looking at playing the equities side, as well. I love the sight of an FUBM in the afternoon. Looks like... victory.

  12. TRE will people very rich; read Santa's prologue in the newly released annual report.

  13. I dunno Turd, me old mate. There are many ways to skin a cat. TA clearly indicated a downturn was to be expected at the end of December (SLV closes above upper Bollinger band 12/29 and 12/31, with RSI and W%R indicating an overbought condition, confirmed by MACD on January 4th).

    TA also indicated an upturn was on the way (closes below lower Bollinger on 1/20 and 1/24, W%R and RSI indicating oversold, confirmed by MACD yesterday).

    At the end of the day we are all on the same page, regardless how we got there.

  14. If the ME conflict had sparked this PM rise
    wouldnt oil have risen today as well ? I cant
    see a better reason than Turd`s Bottom sitting
    over the Blythe and gassing the monkeys.

  15. deciding whether to add on more AGQ. what will we see overnight?

  16. When do we start worrying about position limits and margin hikes again?

  17. Pick, those will only become an issue when massive numbers of speculators start piling in... Which could happen, but isn't an issue now. Also the margin hikes have diminishing returns the higher they go.

    In other words, they might raise margins, but it doesn't matter right now.

  18. The old adage: It is not really bragging when its the TRUTH!

    Free? No way! Time to tip the Turd World.

    Turd 2012

  19. lol kiyotei, you don't know how many times that has run through my head "Turd turd turd turd is the word." I wasn't sure anyone would know what the hell I was talking about.

  20. Didn't really finish my thought... Never posted it because I didn't think anyone would get the reference :)

  21. Turd 2012? I like it!
    How about a ticket of: Turd/Colonel 2012?
    A whole arena full of partisans chanting: WE WANT TURD! WE WANT TURD!

  22. Now for Harv's report.......heheheh..should be good turd......

  23. So much for my brilliant entry into the cotton market....4% down today....sigh. But the fundamentals are the same as for the other commodities....maybe Blythe has a new mandate?

    And yes, TURD ROCKS!

    (need to start that 20 week countdown timer... ;-)

  24. Thank you flaunt...what would you need to see in terms of speculative interest to start getting concerned? How about spot price? Mid-to-high 30's?

    Any reply is apprecated

    And thank you TF for providing all the comfort I needed to buy more AGQ calls at $28 today. Nothing like a 50% return in 3 hours! Some of that profit will be coming your way

    And I might as well go ahead and thank everyone that posts here in general for making this site even better than it already was, which is saying something

  25. Kiwi

    That's probably your answer.

  26. Thisisrich-

    Thanks! Yep, that's probably it.... dammit.... hopefully it's a one day thing, and the price will continue to melt up along with the other commodities over time. I just seem to have a talent for picking a top....and then buying it.... :-p

  27. Hurray,

    I hope there are indeed chat rooms and forums on this website, as I can only imagine the type of discussion that would ensue....

    Turd you may be apart of something much bigger than you realize, just hope you know :)
    Stay safe,
    Stay happy,
    Scott J

  28. Turd, I hear word that "Foobum" and Futff" were picked up by Clif High and have made their way into his latest Shape of Things to Come report!

    Ok, that's a lie. But the way these Turd Town terms are quickly seeping into people's usage and the global mind it wouldn't sure wouldn't shock me. Fyi, you may know his work has great things to say about where the price of Ag is going.

    Congrats on Turd Town taking off like a Saturn 5. This success is built on a rock-solid foundation:

    A phenomenal Turd: everyone wants one!

  29. TF & All-
    With rice now being a hugely undervalued commodity and on the rise, do you know of a good way to invest?

    I know you have done very well with your wheat! Anyway to jump on the rice rise? Thanks!

  30. Pick - No idea really. Best guess is we'd have to get well over the old highs before that becomes a potential risk. Maybe when we're over old highs and start having dollar up days on a regular basis. I'm sure it's going to be volatile, but you can't keep a good man down!

  31. Greetings from the other side of the pond. My personal investment approach has always been a crossbreed between fundamental research and technical analysis. But recently I would have panicked on various alien monkey attack occasions, had it not been for TFs calm and fatherly-soothing words. For me TA is no competition for Turdanalysis. Keep it up, Turd!

  32. BTW LBMA silver forwards are running negative again.

    Also silver futures are in backwardation starting Jan 2012 forward.

  33. Ginger-

    As far as I know, there's no ETF specifically for Rice, (BAL directly tracks cotton...dammit)you might look at RJA, JJA, JJG, and DBA which deal with agri-stuff, but some of them track companies that use commodities, so their profit is actually shrinking and the EFT is going down.

  34. I cant wait to see if SLV shed metal, check back on my blog tonight to see how FUCKED my girl Blythe is. Keep the charts coming Turd, fabulous work.

  35. There's been a Close Encounter of the Turd Kind reported at Turdhenge - the druids all say TF rocks! Too bad about the hat.

  36. Hey Turd and Others,

    I'm a newbie here, sent over from Silverfuturist's recent youtube video, I just want to say this site is amazing !

    I recently opened an account to trade the metals and having the Turd's guidance has really helped me through the rough spots.

    I'm telling all my friends about this place and how awesome the Turd is !

    You keep it coming Turd and I'll see that the tips get bigger as my account grows !

  37. @ginger, I was looking up a rice ETF yesterday. I couldn't find any. dba, dag, rja don't seem to include it.

  38. David Morgan always seems to be predicting the opposite trend for PMs. Wondering if anyone has comments on his latest blog post about silver/gold falling back down.

  39. Turd, you are the man. More donations coming your way (sorry, only USD, but I'm sure you'll find a way to spend 'em before they lose all value - perhaps a few adult beverages?)

  40. Just a contra thought here. What if this run up is a head fake by Blythe to sucker more longs in just to drive the price down to unload more of her shorts?

    What a nasty thought. Blythe removing her shorts....

  41. Reading the post at ZH about imposition of position limits in cotton gets me nervous.

    What's to stop the CRIMEX doing that for silver any time they like, and providing an exemption for the bullion banks (aka EE)? They can justify it by saying that runaway silver prices are caused by evil speculators and that silver prices need to be kept down to help American industry to build on the economic "recovery".

    That would also put a quick end to Wynter Benton's plans.

    The immediate fall in the futures price would allow JPM to cover lots of its short postition. Of course it would mean the end of CRIMEX as the price-setting mechanism for silver, but JPM could live with that, because no doubt they've been loading up on physical silver.

    This is all amateurish speculation by me, but I've finally convinced myself to get out of my spot silver positions and into physical bars. But I'm holding onto my SIL, GDXJ, SLW, TRE, etc.

    This advice from Harvey also helped me:
    "I am now going to emphasize this to everyone: please do not use any leverage in your investments with respect to gold and silver. You can buy silver and gold on these dips but do not leverage your bet as the banker gangsters will separate you from your hard earned dollars. You are going to see a big disconnect between the paper gold and silver and the real physical stuff. The end game is being played out due to the global rush into these precious metals instead of trusting paper."

  42. Tales From The Front

    Stopped by the last of my usual coin shops today. Similar story to the others, but with one interesting twist.

    Pretty low on silver. Not totally out, but close to it. I could have picked 10 or 20 decent rounds out of the box, but not a lot more. He had one 5 oz, and nothing bigger.

    Not a ton of gold either. But he did have a nice little stack of French Roosters. And he offered them to me at a really decent price. But the twist was that he wanted me to commit one way or the other pretty much on the spot, because he was literally just reaching for phone to wholesale them off to some other dealer or wholesaler. Basically he was in a hurry to sell todays rally. Read into it what you will, but there it is.

    I was sorely tempted, but I had to walk away. Been buying this dip heavily and just cannot afford another speck of physical right now.

    I won't be reporting back unless I start to sense some change in the wind on inventory levels at the local shop level. Until further notice, it's pretty tight out there.

  43. here is my post to the CFTC:

    This is my first post. Here is my comment to the CFTC regard their handling of position limits:
    From: sco nes

    Comment No: 27475
    Date: 2/1/2011

    Comment Text:

    I am doubly cursed in your presence. First, I must watch as you subvert the United States Constitution in the service of the sinister banking interests you protect. Second, I must pay you salaries to commit these crimes for your masters. May you suffer the fate of traitors for the unlawful enterprise you condone, because, you act not with the consent --but with the contempt-- of the governed..

  44. "When do we start worrying about position limits and margin hikes again?"

    We can afford to lose people who are highly geared. They can't stand for delivery. It's the physical buyers who will change the market. You can't break the comex by settling or cash either, though it may sting the short sellers.

    "I cant wait to see if SLV shed metal"

    Me too. This is the main reason I check Harveys site over and over each day, waiting for the numbers. SLV lost 146,000oz in his last update. However, if we believe SLV really does have all that silver it says it has, at that rate it'll still take better part of a decade to full drain. 334,533,895/146,000/260 (business days in a year).

    I think however this is one of the critical mass situations though, like a bank run on silver. Everyone want to make sure they get their share before the next guy.

    I think the interesting part (my conjecture) is that if the GLD and SLV are setup the same way, is it possible to withdraw from SLV they way you can from GLD (based on the FOFOA basket post). If so, big players could very quickly scoop up a big hunk of SLV.

  45. The Financial Times reports that precious metals traders in London and Hong Kong were stunned by the strength of Chinese buying in the past month. "The demand is unbelievable. The size of the orders is enormous," said one senior banker, who estimated that China had imported about 200 tonnes in three months.

    The important fact that the Chinese people were banned from owning gold from 1950 to 2003, means that the per capita consumption of over 1.3 billion people is rising from a tiny base, is not realised by most. While the increase in Chinese demand has been very significant, it is likely to continue and the demand is sustainable due to Chairman's Mao's half-century gold ownership ban.

    Should the Chinese economy crash, as some predict, demand could fall. However, sharp declines in Chinese equity and property markets and problems with the yuan would likely lead to significant safe haven demand.

    UBS reports that "many refiners report a backlog of Chinese orders to fill, which suggests that the January buying was not solely for the festive season...the prospect of renewed impressive demand once China returns, should continue to support gold." UBS also reports that while speculative shorts on the COMEX are at a 5 and half year high, there remains "elevated physical demand" and this "usually signals an impending bottom in price."

    Also of note is that "gold forward rates have tightened across the curve, with one-year borrowing rates 12bp lower since last Thursday. This is due to a steep increase in physical demand, and to less lending in the market."

    The physical gold bullion market is becoming less liquid, strongly suggesting that we could be close to the bottom in this sell off.

    Read more:

  46. @Turdle GG-

    Raising silver position limits wont stop the Benton theory. They plan to stand and be paid off. In order to stand, you have to plunk the entire amount on the table. They will have 100% of the money. Raise the position limits all the way to 100%, the Benton theory is still possible.

  47. OK, so in the last couple days, ZH has reported that the Treasury is considering selling 40, 50, or 100 year bonds, and that Meredith Whitney is being called in front of congress to be crucified for her bearish call on Muni's. All it means is you better cross Treasuries and Munis off your list of alternatives to gold. Regardless of maturity. If you haven't already.

    This thing is getting ready to blow.

  48. legerde,
    I wasn't talking about raising margins, I was talking about imposing position limits: no one investor could own more than x futures contracts. Of course JPM would be exempt for some stupid reason, or else all those with existing positions that exceed x have y months to reduce them to x.

  49. What am I saying?

    It already blows.

  50. @turdle GG,

    my bad, sorry. I read the whole thread as margin requirements. So, let me get this straight. Cotton limits can be imposed on a moments notice, but gold/silver position limits take months and months to discuss and formulate, and then put out for public comment, then ignore? WTF! I think I misread it as margin requirements, because my brain couldn't fathom position limits based being easy to impose.

    Anyway, my apologies for making noise without reading carefully.

  51. legerde,
    no worries mate, we're all in this together. Let's not underestimate the speed at which the CRIMEX might act if Blythe's boss gives them a phone call.

  52. I pledge allegiance to the Turd!

  53. With all the "buy silver and bring down a bankster" hoopla, I just realized I had never taken a critical look at JP Morgan stock chart.

    It is, unfortunately, looking healthier than I was hoping. In fact it would likely be a reasonably profitable purchase if held for a few months, not to say that there aren't better stocks out there.

    Disappointingly, the banksters won't be missing any meals soon enough to suit me....

  54. "... Blythe is still "in charge" to a great extent and she'll always reach up and bite me in the rear.." A most unappetizing prospect, I must say!

    I appreciate your RSI and MACD, but does your TA have the kahunas to predict $1600 gold by 6/10?

  55. Turd,
    as a master of the charts, you really should watch this FT video. It's hilarious.

    An FT journalist can barely hold back his guffaws when talking of the "pseudo-science of chartism", as applied to the gold price chart. It was posted yesterday, before the move up. Just another example of the MSM trying to scare people away from gold.

    The journalist opens the piece with this comment:
    "There is rich food for psychologists in the overlap between gold bugs, chartists and conspiracy theorists" (Think he's just described three characteristics of residents of Turd Town ;))

  56. Don,

    That's interesting because I was recently thinking about JPM's stock chart myself. I looked at a 5 year chart comparing it to GLD. All I could think to myself was:

    Jamie! Dude! You have all the capital, you have all the people, all the contacts, all the inside information, you own the exchanges, you own the regulators, you own the Federal Reserve, you own the Congress, and you now own the White House as well. But still this stupid, inert, piece of metal sitting in my hand has kicked your ass for 5 years running and I can't see any shred of a reason why that trend might change. Why don't your resign right now? And blow your fucking brains out while you are at it.

    Ok, my rant is done now. Time to make popcorn.

  57. @Eric- LOL! But.... but.... he's the smartest guy in the room, right? And BTW, thanks again for the update from the front today- I have always bought from the larger online dealers, but your reports have inspired me to start checking out my local shops. Gracias.

  58. roluswe, I just started listening to that audio file you posted yesterday. Where the heck did you get this? I can't believe what I'm hearing. Fucking amazing. I tell you what, if this is a scam someone or some entity spent a fortune manufacturing this. WOW! I think i need another glass of wine

  59. WineGuy,

    Back in my naive days(20-25yrs age) I happened to stumble on many decent people that were into things like this. Maybe not a scam, but really a pyramid job. I think they mean well, sort of like the amway folks, but in reality their whole structure is based on getting subscribers.

    If I'm wrong about that phone conference, then I sincerely apologize. But, I've been through too many "meetings" like this. Listen to it again and pay special attention to the deep voice dude. He starts off by sounding like he is totally shocked and by the end he is totally sold. Sorry. That doesn't add up. NOBODY asked any tough questions. NOBODY asked any question that wasn't obviously rehearsed. In fact, by the end they are cutting Canadian accent jokes. Seriously? Not buying it.

    Caveat EMPTOR!!!

  60. Eric,

    Your analysis covered completely the essentials of the investment thesis, though in an eclectic kind of way.....

  61. Silver Cell said...

    Just a contra thought here. What if this run up is a head fake by Blythe to sucker more longs in just to drive the price down to unload more of her shorts?

    What a nasty thought. Blythe removing her shorts....
    February 3, 2011 2:55 PM

    Hey, Silver Cell....Just looking at the primitive Bradley siderograph from the freebie over at

    Silver may hit a turning point around 2/8 along with the HUI. A few days later, around 2/11 a blip up....

    By the way, the improved module of the Bradley from the big trading software from AIR is DONE! I've been on this for the last couple of months, talking to Alphee. He finished the final testing and tomorrow I will have the final price (will be very reasonable) and will be able to finally order it!

    The software will track ANYTHING you have in your account (major brokers)...and you can project out as far as you want. Grabs all the price data and this new version optimizes to eliminate the "inversions"....I'm drooling over this!
    Have used the freebie for about year and find even that old version (from the 90's not even tweaked since then) uncannily accurate in terms of turning points.

  62. @Bro.D
    No. Unlike Turd, my TA lacks balls. It tends to be a little passive-aggressive at times.

  63. Yeah, that conference call mp3... what a trip! I wouldn't doubt it's a scam, but... I jotted down some of the names mentioned and googled. Led to some interesting places. One of the names, Robert Mankin ("thing1's" former boss?) led me to the Hudson Institute. Wrote this position paper for them:

    One of the VPs of Hudson?... Scooter Libby! LOL. The plot thickens!

  64. So, does it feel good doing a FUBM?
    When I saw the big FUBM followed by several smaller FUBM's in the same day, I reached the conclusion that FUBM'ing must feel gooooodddddd.

    Dear Ms. Masters-
    Enjoy the ride sweetie.
    Real men don't let you down.

  65. @RoCoach:
    What I really like about TF is you not only get some TA, but you really feel his sentiment. His remark that he felt more like Nostradumbass instead of Nostradamus showed a capitulation that marks a bottom, and sure enough, it was very near it.

  66. Inflation Watch

    The price of gas in my town has been stuck in a range for what seems like forever. Today it broke out to the upside, strong.

    The big tell for me will be the price of ground beef. Every week, most of the grocery chains in my area have some type of ground beef on sale for $1.99/lb, no matter how much of a loss leader it is. I'm noticing that the spread between the regular prices and that $1.99 Rubicon is getting wider, but they are still holding the line. So far. When that breaks, then I'll know for sure the Inflation cat is out of the bag.

  67. kiwiquest & mike,

    Thank you for answering my questions about a rice play. Very strange that there remains no ETF or way to play this one absent going in the futures market. I am absolutely NOT going that route as I'm no where near that smart and would def lose the farm!

    Thanks so much for the ideas/input.

  68. Incredibly non-volatile PM markets during Asian hours this week. I didn't realise how much influence Hong Kong/Chinese traders had on the market.

  69. They're staying consistent, that's for sure. Today mimicked Feb 1st exactly.
    3 Day 24/hr spot, Kitco

  70. I've updated this note. Please check it out. Nite nite.

  71. Great blog, but I'm new here so need to somehow find out what do FUBM and FUTF stand for? I can't seem to find their definitions anywhere.
    Thanks for your help to raise the intelligence of a pion like me! LOL

  72. Hey Banman - I just googled them and followed the links to previous articles from the blog here.

    FUBM = Fuck You Blyth Masters

    FUTM = Fuck You Turd Ferguson

  73. "Coming up this weekend or perhaps on Monday, we're going to reach a rather significant milestone. Anyone want to harbor a guess?"

    I'll give it a shot. One million cumulative page views?

  74. flaunt: SHHHHHhh! Don't want folks to know how old we are :-)

    Traded some Silver and Platinum for Gold Buffalos today!

  75. I'll guess that SilverLeaf guessed correctly. I wonder if a million page views in the first three months of a blog has ever been done. Impressive stuff Turdmeister.

  76. Ginger wrote:

    "With rice now being a hugely undervalued commodity and on the rise, do you know of a good way to invest?"

    Have a look at a Soros-backed IPO now trading: AGRO. Not purely rice, but heavily into grains and agriculture:

    "Soros-Backed IPO Adecoagro Provides Access to the Best Investment on Earth"

    Disclosure: I have a small (4-figure) position.

  77. Just how much stronger is the AUD going to get? Or should I say how much weaker the USD. Time for a reversal. $1.02 is nuts since we have had a flood, a cyclone and enough indication that China has an inflation problem to deal with.

    I could purchase some more gold with these rates I guess, but feel already exposed enough.

  78. SilverPaine
    I feel ya. Gold in AUD is not exactly setting the world on fire.

  79. lol kiyotei, I actually wasn't around when that song was made. The first time I heard it was on that episode of family guy :)

  80. NFP : +36.000
    PPR : + 50.000
    ManuPayRoll : +49.000

    Unemployment : 9%

  81. HOLY CRAP! Turd, are you paying attn to this? I'm sure they're already in damage control mode.

  82. Metals spiking on this bizarro data.

  83. Unemployment down from 9.4 % ... how is that possible ?

  84. Holy hell they pulled a flash crash on SI ... 27.74... Now they are pushing it down there... These markets suck.

  85. Santulli is coming up. can't wait

  86. Congrats, Turd. Really enjoy the Blog.

  87. @flaunt : no Flashcrash.. in Reuters and BBG is all fine...

  88. Marvin, people dropping off the roles? The numbers are all bullshit. EE is in damage control on SI. Look that that massive volume spike on a drop to 28.74. No other interpretation of that than something trying to create negative consensus on silver in light of the report. Sheesh. 0.4% "drop in unemployment. LOL.

  89. On my chart I have a HUGE spike down to 28.74 on 1,000 vol at 8:30

  90. Now the gold spike is gone. Was there on the chart, now it's not, like it never happened. I love it when that happens. Fills me with confidence in the whole system....



  92. I think we can stop worrying about whether paper and physical prices are diverging, and start worrying about whether the price we see on our screens is complete fiction or not.

  93. Raise margins on Blythe's baby?? Can't be!!

  94. Where is the "statement on their website?" I don't see anything under advisory notices. It's no coincidence they did this on the heels of a horrible NFP number.

  95. @flaunt : agreed - but you wrote 27.74 in your post

  96. I can't remember what happened last time CME raided the rates? Wasn't there a big dip?

  97. Sorry Marvin I was typing too fast :)

  98. Turd,

    While i am big fan of the fundamental /news reporting side of your blog i think you are digging a hole for yourself with such egotistical and foolish posts such as this. To have called a certain bottom in the PM's recent decline shows nothing but a lack of respect and understanding of the general forces behind the real driver of these markets. You bash T/A as if it was some kind of psuedo-science. Not only have you been backing up the vast majority of posts with 3-5 minute intra-day charts with simple horizontal support lines but to have called for a continuation of the rally at this early stage of a correction with such arrogance, defies what you've stood for in the past, in my eyes anyway.

    Not saying that you are wrong in your approach, or your call for a bottom, however you need to take into consideration overall short term market trends from a traders point of view.

    A bull market such as the one we're seeing in PMs will continue on, based on the fundamentals most of us on this blog have a strong belief in. To tarnish your good name however, in the hope of short term gratification seems a bit out of character thats all.

  99. Sumo,

    Thanks! Checking it out..

  100. Wow, PM's look like they just launched from Cape Canaveral!

  101. fxtrader-

    Your points might have merit except for one thing-

    Turd was right.

    Nuf' said.

  102. My guess is 30.5K pageviews. This start is more gasoline on your fire and depending on today's finish you could easily push past that figure.
    Good luck.

  103. btw : Ireland 2Y Gov +210 bp today !!

    from 4.8 to 6.9 %

    Just in case noone noticed here !

  104. Thanks, kiwi.
    What IS beneath me is to argue and pamper someone who clearly has an agenda. I appreciate you stating the obvious for me.

    btw, new post.

  105. Greetings everyone,
    I would like some suggestions about where to open a trading account. I am interested in PM, miners and other comodities and regular stocks. I am new to all of this and will be starting out with a very small amount (a few k$) to learn and build my knowlege and experience. Also any sites you could recommend for a newb to get a better education on some of the fundamentals of the trading markets would be appreciated.

    I enjoy the blog, it's oozing with intelligence and wit and I am trying to absorb as much as I can lol.

    Thanks in advance for any feedback.

  106. cnbc says egypt announcement due soon. Obama beating up Hosni to go sooner rather than later -- be careful now--oil taking a dump--someone knows

  107. Hey Art,
    Thanks for the translation to the abbreviations. Much appreciated - at least I understand what they mean now. LOL.