Wednesday, March 23, 2011

Are We All Happy?

First of all, I hope you all read, pondered and acted upon this:
And, most importantly, this:

If you did, you've made a nice bit of money over the past 48-72 hours and, for that, I am happy. Not to sound overly altruistic, but this site is FREE because I want you to prosper and, also, prepare. To charge for that "service" would not seem fair and it would exclude too many of those I wish to help. I'm just glad you've found this site, that you are learning as you go and that you are profiting from the experience. Now, all I ask in return is that you help as many others as possible...through your own expertise but also by alerting as many folks as you can to the wonders of The Great and Powerful Turd. I'm about to spend a 5-digit sum on building a new site for us. To make that investment sensible, we'll need as much traffic as possible. Thanks in advance for your promotional assistance.

Onto today's action, check out this updated silver chart:
If you are inclined to lock in some profits, I'd say somewhere above $38 looks like a good place. Of course, I wouldn't sell everything. That would be foolish.

Following crude and silver, gold should be the next to push higher. Once it deals with some tough sledding between 1441 and 1445, it will be off to the races. Santa's next "angel" level is at 1521. That'd work. Be patient. This breakout will happen soon.

More this evening. For now, go celebrate your gains and be happy. Turd out.

9:30 pm EDT UPDATE:
Earlier, I mentioned in the comments section of this thread that I expected silver to dip in the first hours of overnight trading and it has. My expectation was that the dip would then "pick up" gold and drag it higher. I still think it will.
While silver rallied all afternoon, gold flatlined. This is very unusual and won't/can't last. Look at the kitco charts above to see what I'm talking about.
I expect silver to resume its rally soon and bring gold along and thru 1440. For whatever reason, gold has struggled with this level and you can see it one the chart below. The trendline would suggest that the struggle is almost over.
Lastly, Trader Dan has written a brief but excellent piece on the reasons why the status quo, keynesian shill  central banks all hate gold and try to suppress it. You can read it here:
The Wicked Witch and Ruprecht discussed many of these same topics some time ago. I strongly encourage you to go back and watch this, too.
That's it for now. Have a great night. Can't wait for tomorrow!! TF


  1. Was today Gold's highest close ever?

  2. Wow, what a day. Thanks for all that you do. I have donated and will continue to donate. Today was a five figure day for me.

  3. The Great White North (CEF) closed at an all-time high.

  4. James: Please don't misunderstand...I'm not trolling for "donations". Just convert as many friends and family to Turdism. That's all.

  5. What weight do people think is best for a PM IRA? I am thinking 1 oz generic rounds (.99 over spot) or 10 oz. bars (.89). It seems to me that premiums on ASE are just too high.

  6. Happy hour has already started in the Martel household. Icy cold Olands for Mr. Martel and a stiff vodka tonic for Mrs. Martel.

    I love being in a time zone 4hrs later than most of ya'll!

  7. SSK: "By the way Marcus, ain't margin a beautiful thing?"

    It's Markus with a k ;). Nevertheless, I agree, margin is a beautiful thing when applied accordingly. Am using a few times leverage as well. Not 10 or 50 times though.

  8. Just received my Max Keiser silver! I'll give Troy James a call and see if he'll mint a TURD Silver Round :)

  9. Btw my comment on the medium term situation: we have built a huge base here since last fall around 1400$ gold. I think at some point, be it right now or in 1-3 months, we will take off to the upside, and fast. This will be a big move in gold. Probably to 1650 in 1 or 2 months.

    I think silver will hit 50-60$ this year.

  10. Ordered $1895 worth of 90% from NWTM in January and they are delivering us that same $2778 worth of 90% today. Haha, suckers.

  11. Franny,
    you got it figured out!! Go with either the bars or the rounds.

    In an IRA, get as many oz a you can for each of your FRNs

  12. "Turd Ferguson said...
    Just convert as many friends and family to Turdism. That's all."

    I am not worthy, master *bows*.

  13. Mr. Schweppes will be meeting Mr. Saphire in my home tonight... but it could be Mr. Schweppes with Mr. Goose... we'll have to see who shows up!

  14. James -

    Damn! That's not a bad days pay. I hit high fours but didn't quite break that fifth digit.

    Many more days and weeks like this ahead.

  15. Interesting that PSLV was outpacing SLV significantly all day long, and then the gap closed dramatically in the last half hour or so of trading. SLV ended up slightly better (+2.6%) than PSLV (+2.3%). Must've been a lot of profit-taking among PSLV shareholders right before close.

  16. OK, I've been pretty inattentive over the last few days with emerging health issues (my mother is 89), awaiting a gold breakout.

    I had wanted to get into GTU or better yet, CEF.
    I'm not a trader, and am not well schooled in breakouts.

    Regardless, would it be advisable (or not) to put some money into these at these levels? I have a good amount of the physical stuff, but want to get some "outside the country" and easily in and out paper in lieu of the SLV and GLD that I got rid of a few weeks ago...

    I mean, what chances of a dip is there at this point?


  17. Turd is a master investor... he knows an investment into a website not directed at primarily raising revenue may seem like a foolish idea...

    But maybe Turd is investing in his own future by creating a place where something special may happen...

    Spread the word indeed, I don't think it is gonna need to much spreading... you are front running the idea chain, and for that I think you will be rewarded in ways that money can never satisfy.

    Im a big fan of your style,

  18. New website needs the hits, needs the ads and the eyeballs. Rookie investors need a place of learning. Pro traders need a place to let the hair down. Turdville has it all.

    Must Tout the Turd! More than a great place... a movement!

    Uh, unintended pun alert. Just plopped right out. :)

  19. Awesome Turd, just awesome.

    I'm clicking on a sponsor every refresh.

  20. Moved a hair up just under 5 digits today, but that's only because Pretium sold off after the new's about the offering. Damn!

    Hey Turd sent you an ounce, but I totally forgot to add in the premium.

  21. J.E. & James,

    I'm a little fish swimming in a large lake, with large fish. Low to mid 3-digits here, and physical only, so it was just a purchasing power increase...still gotta love it though! I'm learning quite a lot from everybody here.

  22. Larry, that was a whole flush of puns!

    and did you know that, "a straight flush beats a full house. Every time!"

  23. Indeed!
    Hat's off to Turd as well as the community. I was late to the PM party but thanks to Turd's charts, calls, and commentary along with everyone's insight (even those bearish - I'll make my own conclusions) I got my first one-bagger in AG over the last 2 weeks on one position and almost another one overnight in another.

    Holding overnight because at this point, I'm playing with the houses money'and hoping for a nice gap up in the morning.

    I may look to book some profits tomorrow but that would simply entail selling options and buying physical. win win n'est-ce-pas?

  24. Turd, I fully understand. I am not asking other to donate. I am just saying what I will do. My lever of understanding has greatly increased since I came across your blog. I know your heart, but it cost to do what you do. Ray Charles can see that and he is dead. No disrespect to Ray, just telling it like it is.

  25. I'm concerend about the $US rally here...not liking it at all, PM's or that must come down...

  26. agophillic,

    look at Turds favorite miners in his archive section. . . .Miner Update, I think. Some ideas to get little leverage to physical.

  27. "I'm about to spend a 5-digit sum on building a new site for us."

    Madness. Get a host for $5-10 a month who has an auto installer for Wordpress. Export the posts/commments from here, import that file into wordpress, done.

  28. The Black Swans are still circling; unfortunately the Japanese one may turn out to be the worst (barring a 9.0 earthquake in CA.

    Silver will be at $50 by July 1.

  29. SGS, pure silliness. $ rallied against other fiats, not PM's. PM's killed it against all fiats today.

  30. silvergoldsilver,

    The PMs can continue higher even in the face of a rising POSX index.

    They have done it in the past and IMO we are in an ideal environment for them to do it again.

  31. Today was just awesome all around. I had five different positions on earlier which is a lot for me. I'm usually concentrated in one or two and usually only silver. But I used to trade the MREITs and two of them had a secondary yesterday so I jumped in. I also have traded MLP's but not as much anymore. Midday today with S&P down, all five of my positions were up, three different sectors. Feelin' super lucky and exited some this afternoon.


  32. "sent an ounce"- what a great idea!

    Perhaps there should be a feed the turd PO BOX.

    I'd certainly send something once I look too book profit and convert to physical.

  33. SGS,

    Also, IMO today's USDX action was not so much dollar strength as it was Euro weakness. Look at gold/Euro chart for today.

  34. I'm curious as to the Silver-related trading vehicles here...I'm long SLW and AXU/AXR equities.


  35. Thx Turd. Silver's passed the EE barriers you recently mentioned it needed to open the 40 door by end of the month. Do you (and others) feel we should stay on this track or is the 38+ partial profit taking a better strategy?

  36. The dollar rally is due to the Portugal vote. The euro is getting slammed. I'm sure they were moving into dollars all day

  37. Can someone provide advice or experience with cashing out a 401K and putting this into PM's. Is this a wise thing to do at this time if the situation is a family of 4 with ~25 years to go until retirement. What kind of penalties and taxes are involved and is it a safe/worthwhile/wise thing to do at this point in the economy.

  38. Turd, I think it's obvious to everyone that you aren't looking for hand outs, you rock dude! Even if the new website is free, if you add a paid subscriber section for members that is $5 or $10 a month, I'd sign up for it. I've always been the type who refuses to pay for information, but I donated $1 when you asked us to for the website fund and as small of an amount as that was, it was HUGE for me to do it. Had you asked us to donate a little more I would have, but now I just clicky the addy's to help you out. Keep up the good work man, looking forward to the website launch. I feel like a little kid waiting for Christmas!

    ORM blasted off today, up 14% currently. Someone mentioned yesterday that some of us were providing unsolicited investment advice. Anyone who is a regular here knows we like to tout our picks when they do good, we don't try to sell them.

    GPL is widely owned here, that puppy is up 8.5% today.

    Now for that bastard child MVW that was proven by a couple of us to be pumped by EA and probably countless others. Congrats to those of you who stayed in it if you bought after he recommended it. You lost another 16% just today.

    Not everyone who posts here is out to screw you, stick around long enough and you will see who the regulars are that actually value this community and the wealth of combined knowledge it contains due to people that have been investors in this sector for a long time. Don't ever assume that all of us are experts. I just got in to physical silver in October and my trading account just shifted to miners after reading here and learning from others. Gave myself a crash course on the basics and things to look for with them. I only started investing in miners in the middle of February, that's how wet behind the ears I am in the miners game for anyone that may think I have been doing this for a while, I haven't. I was 401k up until a year ago and decided to start investing on my own.

    I will say that ORM's recent success was made apparent to me today on Yukon's blog, turns out that is a favorite pick by a miner news site and explains todays jump. I bought that one last week and was up 25% as of yesterday without knowing exactly how popular it is becoming. I'm up 48% now and was wanting to hold this one for a long time, but it appears to be overbought and I will be setting my limit-down on it every morning because it is only a matter of time before it reverses course. This one is bound to correct soon so if you are liking it's gains, beware of the run it has had. Buy the dips and sell the rips. This one is on a rip. Just a little FYI for anyone who may is looking into this one, might want to explore other options. Just sayin'.

  39. Bill -

    Depends on your trading style. SLV options extremely liquid and lots of 1 cent spreads. I use these and SLW options for day trading. Longer term I'm in love with SLW shares. Love their business model. Also I'm not so interested in doing DD and figure they will do it far better than I. There are some leveraged ETF's if you want volatility but some are not good for lond term because of contango and other expenses. Others on here way more educated on the matter than I. Keep it simple and profitable.

  40. This comment has been removed by the author.

  41. Hehe.. Harvey deleted my comment again. That guy doesn't wanna know anything that doesn't 100% suit his case.

  42. I got to cleaning out the basement, making room for more long term food stores, and found a bag of junk silver I had purchased for the Y2K 'disaster'. I had to do some research to even have a clue what I paid for it. As it turns out, preparing for unrealized disasters is a darn good investment! Drinks are on me.

  43. agophillic,
    I'm with you. Plenty of room for all fish on the shores of Turdsville. Mid 3-digits for my physical holdings. Best of all, my 20 First Majestic Rounds arrived today - paid $37 for them on the 5th March, plus $20 shipping and so I'm up on them already. Add the fact that the sun finally came out in Seattle and it feels like everyone's a winner!

  44. Markus I'm sure its only because you're a dipchit if your comment was deleted.....hehhehehehhe

  45. Turd,

    When do you think Blythe and monkeys will show up? I was surprised that there was not a bigger effort this morning set the price back, but today looked like a short covering day to me. I think your end of contract month theory must be right, in which case perhaps Blythe is nowhere to be found until after March.

  46. Check out the latest from Roger Wiegand. Interesting read!

  47. "Patung,

    $10K = 5 digit sum "

    I know, I'm saying get a host that costs 5 or 10 dollars a month. One or low two digit sum monthly, no need for five lol.

  48. @NCdd,
    Guess it pays to clean up every now and then ha ha, that's awesome!

  49. So about the 401K what do you guys think...

  50. Pretty good activity in EXK in afterhours. Lot of activity in GPL and SLW. All up.

  51. sgs

    somewhat agree on the dollar, it provides an excuse.

    if they dont come though.................

  52. I hate to repeat myself, but Holy $hit! 37.42!!!

  53. Turd,

    Don't spend 10-15K on a site.

    To reiterate: Buy a domain name, install Wordpress, import Blogspot... pay ~$1009 for an awesome design...done.

    Unless you are doing Drupal/ExpressionEngine, this is far too high a price....

    I say this as a web designer/investor...


  54. @Turd

    I stand corrected, unless EE strikes between now and the end of the month in order to bring silver back down below 36.

    Awaiting the new web site!

  55. Economic 101. Prospering & preparing for dummies! Enjoying the ride turd!!

  56. Gotta run out and take my walk before that darn addictive market opens again. Hurry!

  57. Check the kitco charts to the right. Notice the difference between 12:00 and now. Silver UP, gold flat-down.
    I'd expect silver to be sold post 6:00 reopening. Maybe back toward 37.10-20. It then picks up gold and carries it higher?
    We'll see. Either way, they won't stay "disconnected" very long.

  58. Daily action on my cards (glad I didn't fold):

    AG +6% (First majestic)
    EXK +4%
    GPL +9%
    SLW +5.5%
    TRE -0.6%

  59. The dollar is reacting against the Euro due to the news of Portugal, but the trend for the buck is still down down IMO. It will rise against the Euro as more bad news inevitably comes out of the EU, but I don't think it will rise against PMs very much. At any rate, I'm so glad I bought my last 100 oz bar of AG at $33.

  60. "pay ~$1009 for an awesome design...done."

    There are hundreds upon hundreds of perfectly good templates available for free, or if you want a 'premium' one they cost no more than $100. You don't need anything 'designed', except maybe a logo $20 to $100 for someone on to do it.

    but you're right, spending thousands on what is basically a blog site is sheer lunacy.

  61. Yes, I appreciate the technical advice. Web development/programming is NOT my area of expertise.
    I think I have some really good ideas so the new site will have a couple of significant improvements and features that must be designed from scratch. It must also be a platform that can grow as the site grows.

  62. Pablo,

    Tough call, lot of us here have similar situation. If your investment options are limited to, say certain vanilla mutual funds, you might take part out over a five year period.

    If you can invest, CEF is a very good bullion proxy

  63. Turd,

    Interesting price action on Gold at the close. Looking at the book on the comex there were 200+ contracts for sale at 1438.50 and then another 400+ for sale at 1439 or so. Right at the close 21 contracts sold at the first barrier of 1438.50. Not sure if it means anything just interesting. Its obvious that a roadblock was put up to stop gold from reclaiming the highs of the day.

  64. TF I talk your site up but everyone around me is really tired of me beating the drum for silver and gold. They have started rolling their eyes etc. So I am donating $ to make up for all my sheeple acquaintances.

  65. Pablo -

    Definitely a personal choice. I felt more comfortable sittin on a pile of silver and a 50% smaller IRA. Besides the penalty isn't due for 12 months. That's an eternity in the world of physical. I am also skeptical of having access to my IRA in a currency disaster. At the same time, I own my own business and can adjust my income this year to help offset the taxes.

    Don't get me wrong, it is definitely a big hit. I just feel more comfortable with the penalty and physical in my possession.

  66. TO Justin re: MVW. You had every chance to BUY in at a recommendation at $1.09. You didn't. When SILVER slides, and it will.. and you didn't make a move, will you be banging on Turd's head here too?
    You won't even remember this day of MVW's, $1.80 in a few weeks...unless you had the balls to get in..You are the most CRITICAL and insulting poster on this blog, do you want me to tell you when to get out on all your picks?!

  67. "I think I have some really good ideas so the new site will have a couple of significant improvements and features that must be designed from scratch."

    There is already a free wordpress plugin for every one of your ideas. In the unlikely event there isn't you can hire someone on rentacoder pretty cheaply....just sayin...

  68. EA, I rode MVW up and sold at 2.18 thereabouts cuz it was a quick double. I thought perhaps it went up to fast, and wanted to lock in gains. I'm going to watch now for a re-entry point.
    Justin, you seem like an OK fellow, live an let live. We all choose to read, then act, on stuff here our choice all the way.

  69. Maybe a silly question.. Please enlighten me..

    Why is it that a lot of you US investors still prefer PM stocks from the US stock exchange instead of Toronto? Wouldn't it make sense to also hedge against a nosediving US $ by buying similar stock in CA $?

    I'm from EUR btw.. ;)

  70. Great day for silver!!!
    But it is a shame (sham?) to spend $10K on your website. That is just pure wasted profits. Def. could be done wayyyyyy cheaper, regardless of whether you know html code, etc.

    I have an outstanding bet with a family member that silver will hot $40 in March. I can see the finish line, hope we make it! Next stop: $50 June, $100 Dec


    - "The Jeepster"

    PS: word verification: "NourishMe"

  71. Pablo, I have a family of four too. There have been so many thread discussions about the 401K/IRA conundrum ever since Turd opened up his blog. It would be great to have a way to see specific topic discussions in the new blog, don't know how it would be possible though. I'm a Self-directed IRA kind of guy and have chosen to use it to play the miner's and ETF's. I don't add any more into them, just use it as my own little casino game, cuz I don't know if I'll ever get it back and I'm not willing yet to give Uncle Sam up to 30% to get the cash to buy physical. Besides, I think I have a comfortable physical positions now. If I didn't, I would definitely consider cashing out at least some. But, since I do, I like to think the IRA's provide some diversity to my portfolio investment approach as well. It's such a personal issue, it would be hard for anyone to recommend such a change to what is probably a significant amount of money. Good luck, maybe Eric #1 will respond, he'd probably have some good advice on what to think about before you proceed.
    Word verification: Chiken, go figure!

  72. @Pablo

    When evaluating what to do with your 401k keep in mind the chance (or certainty) that the feds will appropriate them in return for some kind of government annuity (ponzi scheme)with a "guaranteed return" something like social security. My understanding is this has happened in Europe and there have already been discussions of this in congress. If it ain't there they can't steal it. This threat has had me drawing down my IRAs long before needed. Personally, I'd rather have what is left of my money after paying taxes, etc then to leave it to the federal vermin, but that's my feeling. You should check with a tax adviser or look for detail online regarding taxes and penalties.

    The real bull in PMs is just getting started, IMO so good stocks and physical metals sound like a much safer bet than leaving your money where the government can and likely will appropriate it.

    You takes your choice and makes your pick. Good silver and gold miners abound - as do bad ones.

  73. gniuz,
    I presume it's the sense that the Canadian exchange allows such heavy naked shorting on a daily basis. Most of the juniors/explorers can't get up to dust themselves off because of it.

  74. Pablo - I did that very same thing in early 2010. It is now time to pay the taxes but I feel fine then and now with my decision. It came down to what I expected the metals to do and how much trust I had in paper anything. I would suggest if you do it to invest now in physical.

    Yes - The 10% early WD penalty stinks and the taxes too but the way I looked at it - The taxes would be paid if you take it now or later so the 10% is the real issue. Also if the USD doesn't default ( guessing it will at some point ) what will the US tax rate be say 5 - 10 years from now. I betting much higher but likely we'll not see that before the - BOOOM! ( smoke clears )

    Did I hit the timing right - Yep and dang glad I did it. It ultimately comes down to a personal choice so do DD and trust your gut.

  75. @Turd

    I can't imagine there's a need to design stuff from scratch (except for maybe a logo). Almost everything has already been done in one way or another.

    You should definitely check out Joomla! ( It's a modular CMS and has everything and more you could ever wish for.

    I'm sure some of us are experienced in this field and could do something back for you by helping create Turd's universe. They would probably feel honored being able to contribute that way!

    These days it's not so hard as it seems anymore.. It's just that you need to know how and where to start. I sure hope you were kidding about paying 5 digits of paper money for your website. Buy some more physical instead.

    Hosting also doesn't cost that much anymore!

  76. Excerpts from King World News interview of my hero James Turk. Good stuff, Maynard.

  77. SoccerDad -

    Remembering a post you made a few days ago about feeling sorry for serving in the USN for decades, upon realizing that the world's elites start wars and a corrupt system and such... or something to that effect.

    Please don't apologize. You stood for the IDEA of America and the IDEAL of freedom and justice. Regardless of how wars get started or the prevailing conditions that allowed the corruption of governments and entities, YOU fought for a just cause along with others in the armed forces.

    In my book you are a hero for serving our country and placing yourself in harms way for all of us.

  78. Turd,

    I work information technology (am from India after all, haha) and please don't take this negatively but if you are paying $10,000+ for a new web site you are probably being swindled. Of course it depend on your vision for the site but many places ~$500/month will get you a very premier hosting package with dedicated server and semi-custom templates and 24/7 support on call with programming assistance, others have also mentioned you can purchase shared hosting much less than this with open source solution (wordpress and plugins). Please accept this comment only out of concern for the well being of our benevolent Turd :)

  79. This comment has been removed by the author.

  80. Monster box at $20,230.65.

    Oh, the good old days when they could be had for under $5000. Those good old days were just a few years ago. How time and silver flies.

    A few years from now we'll be wishing we could buy a monster for 20k, or a handful of 10z coins for $40 each... or regretting that we didn't.

  81. Strange comment coming from someone named Turdle GG, who is also a wee fraction of a man :)

  82. A logo?

    Grab that hat and put a piece of turd on it.

    DONE :)

    PS. Loving that everybody's doing good as well, I wanted to go for AGQ in the morning, but I stood out :(

  83. SoccerDad,
    I second Larrys comments.
    Your service may have been abused by the political class, but I still thank YOU for YOUR service.

    I live in the San Diego area and there are a lot of military personal in the area. Whenever I see someone in uniform, I stop what I'm doing and go thank them for their service.

  84. Turd, you are Aristotle in the flesh. Thank you for sharing your expertise.

  85. This comment has been removed by the author.

  86. First, thanks to 'the ferg" for his excellent site and and the help he and his family provide. Second, it is nice everyone has made money, but wouldn't it be wise for posters to limit their bragging. The EE still has the power.....
    The Castaway

  87. I haven't posted in a while and hope people don't get ahead of themselves. You're only as good as your last trade. There's work to be done EVERY SINGLE DAY. I'm glad people made money, but it was because it WAS AN EASY DAY to make money.

    Typical trending day.

    The larger picture looms, and that is more scary.


  88. Stephen,
    I usually stay with SLW call spreads for a longer period. I sold SLW stock and replaced it with Jan 2012 call spread.
    On the day of the earnings I sold Jun 45 calls that I owned for 4 months and bought silver futures.
    When I get enough money out I will buy bullion.

  89. EA, I hope silver stays it's course for a while, but I have to agree with you about Justin. He is full of himself, and I guess he thinks he can outsmart everybody else on this board. I am still waiting for him to come up with a valid stock pick other than a company that has been researched by somebody else.

  90. Bubbles
    It is obvious to everyone that you and EA are the same person.

  91. Yes, funny how the only time Bubbles EVER posts is in 'reply' to EA... Pathetic. Off with ye.

    Big win for the Turdinistas today- grab a cold one, we deserve our occasional victories.

  92. If the Turd changes his name to get a wider audience I may be forced to pull back on my silver equity positions temporarily.

    nice day though!...thanks!

  93. Pinning, fuck off with you. If you had been here long enough you would know that I have been posting here since this blog started. I just don't think it's fair for Justin and Jake the Wiesel to gang up on EA. But, bring it on, I have enough for you and atle as well.

  94. So the TPTB have decided to erect a wall for gold at 1440... as Harvey would say, likely decided in some kind of secret meeting. ooooh, they're so clever. What are a few hours or a few days (if that) going to accomplish for them before gold moves on to new highs? How much printing or debt creation has been or is being done to supress the PMs? Effing arrogant clueless and desperate idiot scum 6 year olds, if they don't get their way they change the rules, spread rumors, blackmail Congress, or create false flags. TPTB... epic fail on so many levels. /rant off

  95. Portuguese govy just collapsed

  96. I do logos and art work for Turds all day long, so I would be glad to do some work for you for free if you need any assistance.
    I think you can get my email from my sign in.

  97. EA & Bubbles = Stan & Ollie more pathetic than funny though.

  98. Bubbles...

    There was that ditzy assistant Bubble(s?) on Absolutely Fabulous. She was genius in her inanity. You? Not so much.

  99. So does this up-trend hit the wall on Mar 28 (options expiry) or April 1 (delivery month ends)?

  100. Trying.... not.... to feed... the trolls...

  101. Five digits? If the first two number are 99, count me in...I'm cheaper.

  102. "Others have commented that JPMorgan could now settle in SLV paper with its own vault as "storage". I have been always worried about this and I have stated this to the regulators many times throughout these past few years"

    Harvey wrote this today, and like he says, that new vault might be the way the JPM snake slithers away from a COMEX default. As JSKim has pointed out, SLV units can be used to satisfy a short's EFP when delivering to a long.
    Of course such a maneuver, with like 6 days left to deliver on the march contract, would show what a steaming pile of dung the COMEX is -no offense to 'Turd'-, but desperate banksters resort to desperate measures

  103. "kliguy38 said...
    Markus I'm sure its only because you're a dipchit if your comment was deleted.....hehhehehehhe"

    So, how much did you lose when you sold on last week's dip?

  104. Please oh please don't change your name, Turd. I like saying "Turd" and, "I fed the Turd" in polite company! IMHO it would change the dynamics of Turdtown... and I like it here quite a bit. You attract a diverse group of people with a similar interest.

  105. I think we should wait to see what Turd has in mind regarding the new community site before suggesting some cheap/free/limited alternatives.

    The content and people here are amazing, but the ability to interact is pretty handcuffed. All discussion among all members occurs in one linear topic. It is something akin to everyone yelling at each other across a crowded lunch room.

    For example, in my own community we have a VB forum, which allows users to submit their own content, have private discussions, better ignore/ban options for trolls, more features, and so on.

    There is a lot of room on the upside depending on the talent/skill level of the designer of the new site. Just because this started as a simple Blogspot site doesnt mean it can't be grown to something much greater.

  106. When One Sleeps Little, thanks to Turd and BM taking the day off, this is what happens to one's class notes:

    • clumslily argueti is completely unalso, the related party rules aggregate the ownership, so fat cat can't gift the whole deal to son - IRS will view everyone as member of family -- so isn't effecive way to get "ownership" bneath te 50%.
    • but stuck at +3.30
    • agauaikibint this argument dddddddddddddddddddddddddDDDDDDDDDD
    • \yo yoe tat the z7264 eprollbmpress. fhrst provides extra streel ight to fl
    • how o dedduct "enttertainment" -- 274 -- 264
    • Tax Accounting --- economically at risk §465

  107. Regarding the 401K / IRA issue. This is what I'm doing. If you have a self directed IRA, transfer it to a broker such as interactive that will let you denominate the account in Australian dollar, Canadian, or Swiss Franc. From there purchase PM miners etc. If you have a 401K at work, you might be able to take out a 401K loan for the purchase of a primary residence. You will need a purchase agreement for a home. At most you can borrow 50% of your account value. As far as the appropriation issue....I'm betting on unlikely, but if your balances are getting large in retirement accounts, a partial withdrawal might be a good idea.

  108. Pining:
    Bravo Zulu.
    Your metier is duly noted!

  109. Great to see Bay and Mammoth here, probably others also, from other sites. The level of trade info shared here is tops and even the snarking is entertaining. SLW has been good to me as a long term buy and hold, some corrections along the way, '08 for sure, but that was just an opportunity to add more (too bad I didn't add more more-ah hindsight).
    Hopes for GG, UXG, and XRA. Sold SVM too early (two days ago) but profits are profits and I wanted to have cash for buying corrections. CEF is my savings account (should add more eh?).
    I've subscribed to Casey's IS for a few years, it's what got me going in PM's, and I'm always kind of surprised to not see him mentioned more, or at all. I do appreciate his out spokeness. Not plugging at all, just curious and looking for others' opinions.
    An IRA that can be traded is way better than a 401k with limited investment options IMO. Get your $ under your control if at all possible.
    Thanks to TF and everyone here for sharing.

  110. So does this up-trend hit the wall on Mar 28 (options expiry) or April 1 (delivery month ends)?

    Anyone? Anyone? Bueller?

  111. Bubbles, bubbles, EA, whatever your name is,

    What was that you said, you kind of stuttered.

    Say What?

    ALLY Bank Commercial
    What makes Peter, Peter?

    I'm an avid catamaran sailor,
    I can my own homemade jam, apricot,
    and I rrr rrr really love my bank's "raise your rates" CD.

    I'm sorry, did you say:

    you'd love a pay raise ASAP?
    you spent 8 days lost at sea?
    you love watching your neighbor watch TV?

  112. I removed my posts about Turd's name. I need to lighten up a bit. Besides, I got thinking and got selfish - I don't want to piss off Turd, as I might risk killing the goose that laid the golden egg!

  113. Turd is the word, you are the shit-hot analyst!

    TurdleGG, suggest you might give others credit for having a sense of humour too...when I tell people I give the Saturday Night Live reference on youtube...kind of a funny name.

  114. Do not change the name! You are the Turd! I couldn't do it without this place.

  115. Okay, Mr. Ferguson, word is being spread!

    Now my sister is asking me what to invest her IRA in. Normally, I'd say put a healthy chunk into SLW and a few silver miners.

    But with silver as hot as it is, maybe I should tell her to wait until things cool down a little, (say the beginning of April) since we're almost at $38?

    Any thoughts?

  116. Irene
    someone asked about investing in CEF after such a big gain today... good question. I have not the answer.

  117. Uh oh... that bitch woke up to screw our lil private party a bit in Asian markets

  118. I don't think I've ever spelled 'turd' until on this my life. lol

    Anyway, we could get around the dark side of the word by seeing it as an anagram....such as:


  119. While in the midst of this esteemd group of knowledgeable people & since a call for potential jn Ag companies was made couple days ago, I want to just clarify that there are TWO AGQs.
    An up & coming jn that just started Ag production in Dec from their San Jose mine around 55 km from Zacatecas City Mexico is the one I would suggest taking a look at. Trades as AGQ, Arian Silver on Vancouver Bd.
    Link to their web:
    And yes, in disclosure I do own a chunk & have been in it for quite some time. Please do yr own DD

  120. The

  121. Just looking over my miners a bit tonight. UXG +11% ?? Holy Smokes. That kind of move in billion dollar miner, with no news. I've got nothing else to base this on, but my gut is telling me that some mutual funds decided to put some money in the miners today. If I'm right about that, then these miners have only just begun to fly. :D

  122. Calm yourself. Trader Dan has an outstanding essay on gold he just put out.

    Love the Turd and Trader Dan Norcini!!

  123. I suspect the whole "vault" from the morgue is actually a way to "really REALLY" take all out of the US vaults... and this guy at ZH hit the nail (I guess)

  124. moogle - you always put a smile on my face, and this rare visit to remind everyone how easy Turd's calls are, heck anyone could do it, even you, is no exception. This line in particular:

    "Typical trending day."

    Yes, today was a typical trending day for silver, I am sure all would agree.

  125. Franny,
    I believe that only legal tender coins can be used in a PM IRA. But Apmex says you can also use 10 or 100 oz bars. I haven't seen a custodian that will allow generic 1 oz rounds for an IRA.

  126. saso thanks for finding my question on previous thread and for replying. I understand your strategy working your way into bullion. Thank you for sharing here with me. I will have to stay with slw options longer term to muster up enough cash to get out of debt and then eventually load the boat with physical. Good luck to you. Good luck to all. God Bless the Turd.

  127. Turd, unless your new website is coated with precious metals, I'm going to have to agree with Badu's earlier comment. I'm happy to feed the Turd, but five figures sure sounds like a lot to drop on a website.

    And +1 on Trader Dan's article linked by DBrown above.

  128. Are you kidding me? EA and Bubbles show back up at the same time again? I'm sure it's just coincidence ha ha! Dude, you have 0 credibility here.

    You still have yet to answer our questions about your claim to have "insider" info on MVW. We're still waiting for you to stop ignoring that, deleting the post doesn't remove it from our memories.

    Make all of my picks for me? I do quite fine without your picks, phuck you very much. I thanked you when you recommended MVW and I did a quick run down on it, made my money and got out when I realized what was going on. It looks like it has potential, but you are screwing that company by pumping it all over the net.

    Maybe I should go with the other pick you made after I asked you to chime in with MVW when you fled this blog. You returned to offer nothing at all and pumped GX instead. How is that one doing? Ha ha, I'll give you a hint, it rhymes with shit. I need your picks? Bwuahahaha!!!!

    Maybe I should be giving you recommended picks, my most recent is Oremex and as far as I know, nobody has chimed in saying they own it. Up 42% in 7 days and I am currently telling people NOT to buy it while it's on a rip. I do fine with my DD and looking out for the community I have a vested interest in. Your DD is ass backwards if you actually believe in your picks.

    You know what the sad thing about all of this is? I just started researching miners about two months ago and started investing in them 1 month ago. How long have you been in the miner game to be making such horrible picks?

    You fail at life.

    Answer just the one "insider" info question and explain why GX is such a good pick and I'll shut my mouth. Until then, keep yours closed and stop making yourself look like even more of a jackass than you already have.

    Most of us regulars here know what kind of person you are. A pathetic schmuck who feeds on naive junior investors. This junior miner investor isn't even falling for your crapola.

    Have a nice day!! Give "Bubbles" a big ol' hug and kiss for me, she obviously needs attention.

    Turd, again, I am sorry for getting sucked into a trolls war. Just don't want anyone else falling for his shit. I got lucky and made a profit, have a feeling after the past few days with EA's MVW pump a lot of your readers who bought in are waaaayyy underwater with that one now. Might not be your pick, but that kind of thing will cause people to quit coming here.

    EA back on ignore now until he can answer the two questions:

    1) Insider info, what is it?

    2) Why is GX a good pick? It's dropped pretty good since you recommended it.

  129. TURD, PLEASE PLEASE PLEASE do a post advising the advantages and disadvantages of hedging. I don't want to see people burned if this market goes sour.

  130. There's a very effective hedge strategy that beginners should use:
    When the price goes down too much, sell.

  131. I visited my local dealer today and brought him a a six pack, he was as happy as I am today. Thank you Turd! Glad to hear there are other people in IT and web development here. Coding a site from scratch might cost 10k+ easily, many who suggest templates here might not understand your vision for the site. When the site is ready, count me among the volunteers! I know a ISP that will donate a server and bandwidth ;) Is Apr 1st still the release date?

  132. LOL @ Titus. The first thing I do after buying a stock is set my loss-limit on it so I don't have to worry about losing my ass on it. As it moves up, so does my limit.

  133. B: re hedging, go back and read this:

    DBrown: Go back and watch this. Cartoon Blythe makes many of the same points:

    Regarding the action this evening, re-read this comment from earlier:
    Turd Ferguson said...
    Check the kitco charts to the right. Notice the difference between 12:00 and now. Silver UP, gold flat-down.
    I'd expect silver to be sold post 6:00 reopening. Maybe back toward 37.10-20. It then picks up gold and carries it higher?
    We'll see. Either way, they won't stay "disconnected" very long.
    March 23, 2011 2:28 PM

  134. Turd wrote: "We'll see. Either way, they won't stay "disconnected" very long."

    unless it's different this time


    is it ever different?

  135. I guess I shouldn't be such a smart ass about hedging, but really that is how I play it. (Sell or use sell stops). At least when I trade futures. In general I buy and hold physical and miners.

    There was one time during the Japanese meltdown when I was afraid of a huge overnight market collapse, so I sold an ES contract short to hedge my miners.

    So I guess maybe I was being a smart ass because my investing is not sophisticated enough to need a hedging strategy.

  136. Turd, I build websites for a living and have for the past 10+ years. I have a professional portfolio, resume, the works. I'd be willing to help you with your new website pro-bono (because I refresh it about as much as ZeroHedge... which is constantly) if you're looking for help let me know. I'd be glad to.

  137. My Uncle is having dinner with Ted Turner tonight. I should have called and told him ask Ted to hook Turd up with a TV show or something! Had no idea my uncle even had clients like that, would have guessed that a cable network owner would have minions go to dinner meetings to talk business for them. Also learned that Ted Turner started off by taking over his dad's billboard business. Just goes to show that hard work can go a long way. I need to get me a damn billboard sign and move from there.

  138. Turd: Is there a new wicked witch Blythe video in the making yet? She must have something to say after what's been going on lately right? We all hope she does...Ruprecht must be shitting his pants after silver hit 37 today! lol

  139. Turd, in regard to your update, your calls are spooky accurate most of the time. Long term calls are one thing, but your short term ones being just as accurate is awesome.

    I think Turd found himself a flux capacitor and makes trips into the future.

    1.21 Gigawatts. Never forget.

  140. Justin - we had some good slogans earlier you might have missed. My favourite is definitely "disorderly on the upside". It is weird when family members are kind of famous. You still look at them and think - 'I know you.' And on a completely silly note, minions is one of my all time favourite words. It really sounds like what it means.

  141. Justin - I meant slogans for your billboard, in case that wasn't clear.

  142. And on a completely silly note, minions is one of my all time favourite words.

    there's no 'u' in favorite

  143. Pablo - does your employer offer a contribution match to the 401? Consider reducing the amount for a little while and investing your contribution in a IRA you control. the mutual funds offered at my firm were terrible, but the employer matched a % for dollar until they didnt (2009). at that point I started to invest in a IRA and the results have been getting better as understand more after a bit of investment practice then consider taking the larger 401k withdrawal.

    don't do a penalty withdrawal without a clear plan of what you are going to do with it.

  144. Jake - the english have a love of the "u" americans will always misunderestimate.

  145. Turd thank you so much for keeping this site free. You are a true Patriot.

  146. GDP is coming on Friday, and I wonder if EE is cooking sth for it.

  147. Meanwhile fine video on how silver is mined brought you by guess whom? EXK !!!

  148. @xtybacq,
    Thanks for elaborating, I had no idea what you meant by "slogans".

    "Minions" is very fitting and does sound like what it means. Whoever created that word did a good job. :)

  149. jake the snake - easy with the blanket statements - sometimes Americans can seem a little ego-centric. I will spell using Canadian English, which I can mangle perfectly well. Colour, humout, neighbout, programme .... I could go on and on.

  150. jake - according to the queen on this silver maple there is a "u" in favourite.

    She agrees though, that in the colonies that rebelled there is no "u" in favorite.

  151. oops, see - homout for humour, neighbout for neighbour - and you should hear me talk ...

  152. I have never known why, after you rebelled, you changed some spellings. Was it then? Must be some dictionary getting published or some such.

  153. Fewer letters means less ink printed, and less keyboard wear. Check, not cheque. Even the spellchecker dislikes cheque.

  154. The spellchequer? But doesn't exchecker look wrong? Exchequer definitely. I have to teach spellcheck how to spell!

  155. Pablo

    Sorry I missed your question from earlier, especially with SoccerDad promptly invoking my name. You asked about "cashing out a 401(k) and putting this into PM's". Most of the responses talked about IRA's. This sounds exactly like a discussion around here from weeks ago and I think there was confusion about 401(k) vs IRA's that time too.

    Need to figure out where we are really starting out from first. Are you in:

    1) a 401(k) plan at your current employer?
    2) a 401(k) plan still sitting at a former employer?
    3) an IRA that maybe had been rolled from a former 401(k) plan?

    Using your words, yes I think that what you have in mind is safe/worthwhile/and wise. And if we can figure out where you are starting from above, then we can try to figure out where you are going.

  156. $37.40 and $1,440 are the new resistance points during Asian hours today. Yesterday it was $36.40 and $1,430. So silver has been allowed to rise $1 and gold $10.

    Senseless to do so, but if we project forward a couple of weeks it would take us to $52ish and $1,600ish. I could live with that!

  157. Congrats to WB group! $37 in March.

    Hey,dont be a stranger let us know your still alive.

    I know some people dont belive in the group but I have to say 37 in march was a good call .

  158. Eric #1
    Wanted to let you know that I did go and do a gold for silver swap (We're now at 25% silver) and also purchased another large (for me!) round of our silver mining stocks. Went for broke with all our spare cash. And just in time. So thanks again for listening and thanks for your encouragement.

  159. Sounds awesome Irene!

    This week has been great, but just remember this stuff never just goes up in a straight line everyday. But we keep our eyes on the longer term fundamentals and that gives us the strength ride out the dips.

    As we discussed about the silver, don't get greedy and insist on riding it all the way down to 16:1. Look at any long term chart of the gold silver ratio and you'll see that sucker can turn on a dime. I'll probably start swapping the silver back to gold from around 30ish steadily down through the 20's, assuming it keeps steadily marching lower. If I recall correctly, one of us the other night said "my heart belongs to gold" and the other agreed. So if I end up mostly back in gold a little early, so what? Being in gold is never a bad thing. The reason to play this silver thing is to end up on the other side with more gold than we would have had otherwise. Same thing with profits on the miners. Means more gold ounces than we would have had otherwise. Good Luck!

  160. @ Eric #1

    Well, which ever one of us said "my heart belongs to gold" doesn't matter since we both agree.

    Starting to swap back at 30ish is the smart move. I've played this all very cautiously and will continue to do so because I'd like to be able to help out my niece and nephew who are university age. Their world will be much bleaker than mine was way back when. And that's what this is all about ultimately. I'm just hoping for the best but fearing the worst. Glad to have met everyone here. It's more than small comfort.

    And good luck to you too! (Although I've kind of sussed out that you're really doing pretty well already!)

  161. Yeah, Irene, definately "Looking Good Billy Ray!" this week so far anyway. Largest recent buy for me was pretty good size (for me) chunk of CEF back on 3/16. Needless to say, in hindsight the timing on that looks pretty awesome right now.

    Going to go to bed now and dream of 1445 gold for tomorrow....

  162. Larry and Paul B.,
    Thank You!!! Your kind words lift me up.

    By the way I love the way Jim Willie writes, his latest 'Surf Warning: Tsunami to Lift Gold' provides some great insight to the future IMHO, check it out on

  163. Heeey!
    What is going on in London?!?!?!

    37.61 and climbing!!!

    At this pace, we'll see 40 by the end of THIS month! :)

  164. Something exciting must have happened to the dollar, and it had a very positive effect on silver and gold.

  165. xty,

    I believe it was the Portugal vote that dropped the euro and the dollar and the PM's benefited

  166. Well Dollar is @ 75.87 last quote

    Portugal went to hell a few hours ago, and we got a war...

    According to this post @ ZH ( ) I got a feeling that this is going to be a nice ride.

    However I'm no technical man, I'm here to learn :)

  167. Also the Comex report this am shows a 126 drop in March IO and 80 deliveries scheduled, must be short covering as well

  168. On the hour - at 4 and 5 for gold and silver, and 4:40 and 5:40 the Euro shoots up.

    Good Morning.

  169. Sorry Raul V didn't see you,

    Bom dia

    since my ancestors from Portugal seem to be helping from the beyond

  170. If gold moves to the next angel of $1521.00 from here, what's the chance that silver stops at $38.00?

  171. AG took out recent highs (~18.50), GPL is below highs (~5.00)

    what does everyone make of this? do you guys think this outperformance of AG will continue?

    I have both and am trying to decide what allocation to give to each, they are my top 2 holdings but between them i am skewed 60% GPL/40% AG and am wondering if i should shift more towards AG, thoughts?

  172. @m... this could be (partly) why AG has rocketed more lately:

  173. also Turd do you ever look at fibonacci projections? using 36.745 as swing high price and 33.565 as swing low price, the projections are

    1.272 = 37. 61 (as i type, overnight high is 37.72 so this price is taken out)

    1.382 = 37.96 ( i think this is where some big resistance will come into play, beyond being a fib projection level, it is nice round number so a psychological level and gets close to bumping up against Turd's and Trader Dan's upper trend line)

    1.5 = 38.335

    1.618 = 38.71

    regarding the 1.5-1.618 range it seems like an absolute must to take some profits here, Turd's levels are right around here as well so near the upper bound of the trend channel

  174. Turd...wake up! $1440 has fallen!

  175. okay, it's above 1440

    Who said after three times above 1440 the collapse of the financial system occurs?

  176. That was Jim Sinclair. It was 1444. Three times over and back. I will look for the precise quote.

  177. Top o' the mornin' from a very windy coast of Georgia.

    Xty - Love your accent ;) The olde King's English has an elegant sound, and the Canadians have added a certain charm around and aboot the language.

    Raul V - Thanks for linking the "funny feeling about stock market" post. Makes good sense. Was just reading about (aboot for our northern friends) the worldwide supply chain issues and the domino effect resulting from Japan. Touches everything, everywhere, from farm products and electronics to Toyota and Boeing. Scary stuff...

  178. Jake & AgApe - was just looking at Sinclair's quote you refer to and was still on desktop:

    "Financial Armageddon comes after the euro takes out $1.4050 twice and gold closes three times above $1444. We are close."

  179. SoccerDad - Just read the Jim Willie "Surf Warning" post. Good info, thanks. Read that right after I read the Raul V linked post. Seems I related my comment to him about the supply chain/Japan effect...

    So, I'll say that the stock market double top is one to watch closely and determine which mining shares might go down in the waterfall effect. No time to get cute and try to time out then time back in, as I believe pm related shares will dip, maybe a lot, but then rocket higher. Tough call for an investor that is not able to move quickly.

    So, both good posts that you and Raul posted. Just got'em mixed with the one's who brung'em to the party.

    So much good stuff to read... so little time.

  180. Thanks Larry. I couldn't find it. Cheers!

  181. Blog domination?

    Ok, I'll shut up and sit down now.


  183. m - interesting numbers. I don't understand really, but I am astonished at the prevalence of fibonaci numbers and the fractal nature of nature.

  184. AgAope

    thanks for the link, I forwarded to my circle

  185. EE hard at work the last 5 mins.

  186. Fib numbers are great, but this is a fundos event. The open interest rose yesterday and a lot of deliveries to go. I think TF's end of the month is a better projection if 38.33 is there at that time great, but I'm not booking profits early on this one if it backs up on my fine.

  187. Well guys, looks like with gold heating up and silver again blowing up to new highs that the Benanke has officially lost control of inflation.

    Consumer prices are just barely starting to show the reflection of higher commodities... wait till it really hits the consumer mid-year!

    Silver and gold aren't recognized by the masses. Most people I show silver to doubt its really silver because they've never seen what pure silver looks like. They only know what things like white gold look like.... they really think thats what color silver is! Still a VERY long way from being called a bubble.

  188. boys are in early for the 8 AM pit brawl

  189. B: glad you called it 'consumer prices' and not inflation

    we're gonna get hit hard(er) as the year presents itself with cost push inflation

    no rising wages, increasing dependency on gubbermint assistance, and on, and on, and on

  190. @Mark
    yeah i agree it could easily blast through all of these levels, the fundos are absolutely in place for panic type up moves at any point from here on out, ~70% of my portfolio will be completely untouched and independent of any technical levels/resistance (at least until we blast through $50), its just another technical angle for consideration

  191. Mark and M - indeed I wouldn't base my investment strategy on them, but I also wouldn't discount their significance, and they might well show up as resistance levels. Do you know what the fibonaci time bands are useful for on the Netdania charts? I have tried most every button on those graphs and I could not come up with a use for those lines.

    And I am planning on holding on for a long time - but I do need to be aware of where others are going to be thinking of taking profits.

    Good morning Jake. I hope you have brought your sense of humour.

  192. Check this out. .. Hacker group Anonymous calling for US revolution?