Friday, March 25, 2011

Your Regular 8:00am Bloodletting, Redux

There are days when the usual 8:00am bloodletting is not just required, its mandatory. Today is such a day.

Longtime readers and observers of the PM "markets" know by now that the most likely time for an EE raid is between 8:00 and 9:00 New York time. We've discussed this ad nauseam here with posts such as this:
http://tfmetalsreport.blogspot.com/2010/12/criminal-evil-empire.html
Earlier this week, we discussed it again:
http://tfmetalsreport.blogspot.com/2011/03/your-regular-800am-bloodletting.html

Always remember, the primary job of The Cartel is to suppress price. Runaway gold and silver prices make the underlying inflation in the economy obvious for everyone to see. Inflation means higher interest rates. Higher interest rates are the beginning of the end for the government/financial complex. Again, for an 8-minute tutorial, watch this:
http://www.youtube.com/watch?v=9FGVtJRWP6k

At any rate, The Cartel can most effectively whack/suppress/cap price by acting away from normal market hours. At moments of thin volume, their massive supply of unbacked paper contracts can easily overwhelm the puny bid and permanently steal 20 to 30 cents from the price of silver, 5 to 6 dollars of the price of gold. Given the desperate events of yesterday and the subsequent, building FUCME formation overnight, you knew a raid was coming this morning and..right on shcedule at precisely 8:00 am EDT, Blythe obliged. Looky here:
I'd mentioned last evening that a move back UP through 37.70 would accelerate the completion of the glorious FUCME formation. Is the timing on this chart coincidence? I think you know how I feel about coincidences.

Onto today, which still has the potential to be glorious. We closed the week last week at 35.06 so I think its safe to say we are going to post another UP week. Very nice. In gold, we finished last Friday at 1416 so we're looking good there, too. In fact, a Daily Double is not out of the picture as the highest ever daily close is only $5 away as I type at 1438. For clarification:

Daily Double: New high daily and weekly close occurs on same day.
Trifecta: New high daily, weekly and monthly close occurs on the same day.
Superfecta: New high daily, weekly, monthly and annual close occurs on the same day. It happened on 12/31/10. The odds of it ever happening again are extremely remote.
http://tfmetalsreport.blogspot.com/2010/12/once-in-lifetime.html

As I wrap this up, The EE is still in the pit, banging away as hard as they can. We just had another, textbook, one-minute 25-cent silver smack. Just frickin ridiculous. Oh well. Hang in there. Be patient. We are winning. TF

257 comments:

  1. Cheers Turd - excellent work, as always!

    ReplyDelete
  2. I follow both Armstrong and Sinclair. I think Sinclair in his article today agrees to disagree with Armstrong. He does have healthy respect for Armstrong which is confirmed by the fact that Armstrong is one of the few guys who are linked from Sinclair's website.

    I did get to read the latest article of Armstrong but I was surprised to see a type written article rather than one on a computer. The reason is I thought Armstrong got released from prison recently and he may have been able to access a computer.

    I hold physical and I am trying to not get swayed short term gyrations.

    'Remember a watched pot never boils'

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  3. Dont quote me but I just got word Gensler has fled in the country in fear of his life, and the CTFC might be ready to do whats necessary. Just rumors, but keep it in mind for monday.

    ReplyDelete
  4. Who FUC who now?
    Getting confused...and sore all over! :(

    ReplyDelete
  5. JoeKa, took me a bit but FU-CME

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  6. JoeKa,
    Did you even read the latest post? Come back Monday afternoon and bring reasons/data to explain the action. No need for useless comments here.

    Turd... I'd gladly pay a subscription if that would keep trolls outside the door.

    ReplyDelete
  7. Larry I wanted to keep your discussion going for a moment. I asked basically the same question - why is it better to wait for a higher price? And I got jumped on - didn't realize people were so passionate about following one or the other. But what I didn't get were very satisfactory answers. Yes, I understand consolidating a base, etc. But I still think it is crazy to wait for a higher price because a sooner higher price will prevent an ultimate higher price. But even though there is a lot of emotion in price, I would want higher sooner, please.

    ReplyDelete
  8. silvergoldsilver
    I think your last post have included a
    sarc

    /sarc tag

    ReplyDelete
  9. Here comes the SILVER AUGER. FUCK YOU!

    ReplyDelete
  10. buyers are entering their order info with their middle finger right now.. woohoo!

    ReplyDelete
  11. Consumer sentiment...LAME.

    http://www.marketwatch.com/story/consumer-sentiment-index-falls-to-675-in-march-2011-03-25

    ReplyDelete
  12. Scisco: whenever Turd says something yu don't understand, just remember this--he'll stomp his foot a couple times to let you know he knows you won't get it. Glad the light began to glimmer. :-)

    ReplyDelete
  13. Hey Turd!

    1438. Type 1438, not 1338!

    ReplyDelete
  14. @Larry

    Looks like no one has given any attention to you lengthy post.

    But, I am thinking the same way. I am with you.

    Question is why Santa did't question timing?

    May be TF can throw some light.

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  15. Silvergoldsilver

    Please don't post names without explaining who they are and why it is important.

    Some of us have no idea what information you are trying to convey

    Thanks.

    ReplyDelete
  16. If the CFTC did its job and said JPM you must get into compliance with the 1500 contract limit.
    Lets even say they gave then 3 or 6 mo to do so.
    What would the silver price be?

    ReplyDelete
  17. @Jerome: whoa there! It was a tongue in cheek poke abt the FUCME acronym and the bloodletting which lasted all of 2 minutes.

    Since ur so liberal with ur "troll" badging perhaps its time for you to check urself in the mirror and ask if u feel some sorta embedded / inherited privilege on this blog.
    For the record I'm a keen reader of TF and only recently decided to post. So..thank you for that warm welcome.

    Have a nice day.

    ReplyDelete
  18. you guys really cant figure out who 'gens' is? the CFTC has a very small circle of folks that are important at the top, and 'the gens' is mr big daddy. If hes really fled for his LIFE (which is quite a BOLD rumor) then yeah id say that combined with JPM's recent posturing to set up their own warehouses in a lighting fast 5 days and other Comex shenanigans makes that all quite an alarming string of coincidences.

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  19. Gary Gensler
    http://en.wikipedia.org/wiki/Gary_Gensler

    Why is it important? I believe SGS would tell you he's getting out of town before shit goes pear shaped on the COMEX.

    Yukon

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  20. Torx1953 said...

    Silvergoldsilver

    Please don't post names without explaining who they are and why it is important.

    Some of us have no idea what information you are trying to convey

    Thanks.


    -------------------

    Google is a wonderful thing......try it.

    http://www.cftc.gov/About/Commissioners/GaryGensler/index.htm

    ReplyDelete
  21. Love this site, have done well in silver, but wanted to remind everyone that since we're buying in to manipulated markets, there's no reason to avoid stocks altogether.

    For instance, for the last year I've been into PPO and GILD. Here's a couple of stocks that have done well because they have decent products and prospects, which even in a manipulated market.

    Whether or not Ben keeps pumping, stock investments that are susceptible to logical analysis -- in other words, there's a businesslike rationale behind your investment decision -- are worth considering.

    ReplyDelete
  22. Torx1953

    please don't dictate to folks who have been here longer than you have.

    Many of us know exactly what SGS is talking about.

    Thanks

    ReplyDelete
  23. Xty - Forgive me, but I'm not sure what you're referring to. Was it something in my Sinclair/Armstrong post or did you accidentally put my name in a response to someone else? I'm confused... help!

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  24. TURD GURU ..

    can u share your view on this please ?

    Margin Hike not a tectic used by Blythe but a normal CME action item when there is spike in silver.

    http://www.youtube.com/watch?v=jKQUG3gTSsk

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  25. Torx193,
    Gensler is the chairman of CFTC http://www.cftc.gov/
    CFTC is what oversees the COMEX futures trading.
    Much discussion about how JPM manipulates silver via paper short sales into the COMEX. For everyone other than JPM there is a 1500 contract limit, JPM has gotten an exception. The CFTC has received 10's of thousands of letters from the public asking them to fix this. Gensler has resisted and delayed this in every way possible. The end of the public comment period in on Monday the 28th. New Rules could be announced any day 28th or later. If they really do their job then this would be HUGE.

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  26. Terry: You're assuming that the CME/Comex/Fed/EE all act independently.
    C'mon now...

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  27. Sumo,
    Chill, our goal is to educate the masses, as much as this seems like a nice private club, we need to help the newbe's understand, its Turd's primary stated goal.
    Any yes I was very tempted to use the let be google that for you link, but just saying Gensler is CFTC commish leaves out the back story.

    ReplyDelete
  28. "Margin Hike not a tectic used by Blythe but a normal CME action item when there is spike in silver."

    Yes of course ... would you like buy some LEH calls?

    ReplyDelete
  29. Gensler

    http://www.bloomberg.com/news/2011-03-22/cftc-s-gensler-says-swap-rules-need-international-consensus-1-.html

    ReplyDelete
  30. Gensler is a soldier for the Cabal....he chuckles when he receives your letters asking for change.....HIS JOB IS TO KEEP THE PONZI INTACT....ITS HIS FOCHIN JOB!!!....he doesn't give a rats ass about your protests.....hehehhe

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  31. This comment has been removed by the author.

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  32. Larry - sorry, yes it was about that post. I assumed that what you were questioning was whether the timing of the rise in the price of gold mattered, and why Armstrong was calling for a later rise. But I may have the whole thing screwed up.

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  33. kliguy: Exactly. As The Wicked Witch famously said: "Gensler is my bitch".

    http://www.xtranormal.com/watch/8266652/the-wicked-witch-of-new-york/

    ReplyDelete
  34. Hi gang, saw on Ed Steer'd daily email update that author and real money advocate Ed Griffin will be on Glen Beck for the entire show today.

    From Ed...

    "The Creature From Jekyll Island

    If I had to pick the number one life-changing book out of the many I've read over the last ten years, G. Edward Griffin's The Creature From Jekyll Island: A Second Look at the Federal Reserve would be it. I've recommended this book many time in this column...and I do so once again for the very simple reason that Ed Griffin will be on the Glenn Beck show today...and the entire program is dedicated to the contents of his book.

    I don't watch TV...and have no idea whether this show is even available here in Canada...but it's obviously available in the U.S...and I urge all my U.S. readers to find the time to watch this particular show..."

    Beck is on Fox at 5pm edt. Just set my dvr...

    ReplyDelete
  35. G - what am I, chopped liver? I wanted to get that discussion going again too. I also followed Larry's line of reasoning.

    ReplyDelete
  36. According to Wikipedia, Gary Gensler is a single widowed father with 3 teenage daughters.

    I can't see the man fleeing town, sorry. Too much responsibility. Just resign and be done.

    ReplyDelete
  37. Torx193,

    Please identify yourself before posting on this blog.

    Thank you.

    The Management

    PS: Sorry TF :)

    ReplyDelete
  38. If, for fun, we assumed it true that Gensler fled for his life and the rumor is actually a fact...and given we know he is a shill and card carrying member of the EE....who would be out there willing to threaten Gensler's life and be able to do such a good job of it that it would cause him to leave the country? Any guesses?

    Seems improbable

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  39. Stil thinking about an earlier post here (thanks to the poster) about Gartman waiting for dip in gold.

    EE usually tips him off before raids. Maybe one is lined up for this afternoon?

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  40. Paul, had to grin when you said that Ginsler "oversee's" the COMEX. Isn't that like a jumbo shrimp?

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  41. I hope everyone is watching on this potentially historic day.
    The action in silver is magnificent to behold.

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  42. Google is not helping me understand who EE is; can any of you help?

    ReplyDelete
  43. TF, I'm watching XAG and XAU on one-minute charts from netdania.com.

    Their prices move almost in in lock-step, but their volumes don't. Algos at work?

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  44. pay no attention to rumors. They are fostered by the weak minded.

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  45. G said... "@Larry - Looks like no one has given any attention to you lengthy post. But, I am thinking the same way. I am with you. Question is why Santa did't question timing? May be TF can throw some light."

    G - It wouldn't be the first time one of my posts caused many a scroll button to be punched. :) But thanks for the acknowledgement. I believe that we post for ourselves, either for some need or simply for enjoyment in the hopes that we can shed light or share ideas. Cathartic as they may be, most blogs are not really designed for lengthy opines, but since mine just kind of come out (and with no talent for brevity), I'll not expect responses when I do chime in.

    That aside, I think Sinclair has been very forthright in his timing and he's acknowledged when it was off (re: Jan 1400 call). There are so many moving parts to any time and price call that no one can be accurate all the time... particularly with mid-term calls. Sinclair and Armstrong both have impeccable records for being right in the longer term (years/decades), and in the shorter term (weeks/months).

    Our very own Turd has become quite a master at shorter and mid-term calls, which is unique (and profitable if you trade).

    Bottom line: If you are not a cycles/chart/fundamentals expert you're better off following and subscribing to what the best minds (mentioned above) are telling you to do in terms of timing and price. They can and will be wrong of course, but the odds are in favor of their being right much more often.

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  46. Turd,

    In light today's potential magnitude, please provide as much play by play and color commentary as your time and availability allow. Thank you Sir!

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  47. Dear Turd,

    Even though we are bullish silver now, may we know what exit strategy should be planned here? this is just in case

    I just recommended this blog to someone on Twitter. Just want to let you know that you have made a difference in people lives...


    Cheers,
    Sugi

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  48. Gary Gensler = The Fucking Midgit

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  49. Turd is using words like Glorious and Magnificent.

    Hmmm

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  50. @xty

    Sorry, did't see you were in front of me
    ;)

    ReplyDelete
  51. It's amazing that a market can be controlled and manipulated in such a obvious and massive way almost everyday for a super long time and the Justice Dept. or U.S. Attorney General never looks into.
    This has been going on forever and it's obvious that TPTB want it and need it to be rigged for personal gain or sheer desperation.
    The final throe's of the Ponzi being papered over further.
    I believe in the value of gold/silver vs. paper but the whole structure and relation between the physical and paper worries me at times.

    I can't help but think that if the market goes south and all the paper obligations on commodities etc. are sold off in a crash type panic that the underlying commodity price will tank big time and stay down.
    We all feel that JPM and whoever else is manipulating PM's big time on the short side.
    What if they have it (the market) so rigged and leveraged on their side that they can crash it at will and collect a huge profit on silver when they decide to? Seems possible as they have controlled the market up to this point in a massive way.
    Could the banks be that short sighted or are they so arrogant and monetarily confident that this will be one of the biggest market crash scams ever?? If TPTB admittedly control the market, why wouldn't they do whatever it is they know they can do and get away with, again?
    The whole aspect of JPM getting their own vault etc. at this moment seems like a final plan about to be hatched when the end game in silver appears to be close. How could JPM not have had a vault this whole time for silver delivery transactions? Makes no sense at all, yet it happens like no it's no big deal.
    I'm saying JPM/other banks will make out like a bandit on both ends of the silver collapse when it does happen. The big banks rarely lose money because they know what the market is going to do before they make their big moves because they are in control.
    So it seems possible that this whole short silver scenario by JPM could be another elaborate paper game that they always seem to come out on top of.
    I'm not negative against physical PM.'s (love em') but the reason they are so high has to have something to do with some of the paper being traded behind them.
    Disinformation from supposedly trusted institutions is nothing new when it comes to making piles of other peoples money. It's not a lie to them, it's just business as usual.
    It's obvious that JPM or whomever had the sole intention of making a killing when the whole silver short idea was first instituted. It may have run into some problems but that must have been the plan, to make a killing anyway possible.
    Their possibly very desperate regarding their silver position OR very much in control of it inspite of appearances to the contrary.

    ReplyDelete
  52. Turd, maybe it's time for a permanent link on the sidebar to your post of definitions etc.

    Can anyone give me a simple formula using silver spot to calculate the price for purchasing 90% coin by the face value?

    Thanks in advance

    ReplyDelete
  53. sumo - but Gartman's number was pretty darn low - something seems to have happened to the man. If he gets his dip I will be amazed - when 'they' try their hardest and the stars are aligned right, they still cannot get it below 37 by much. But whenever I comment on price, silver tanks.

    ReplyDelete
  54. JoeKa,
    I apologize. Did not get the joke.

    ReplyDelete
  55. http://traderdannorcini.blogspot.com/2011/03/china-will-be-buying-all-dips-in-gold.html

    "... signifies the most visible upward shift in sentiment by the PBoC in quite some
    time, and in turn, a bullish flag for elevated gold prices this year."

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  56. PurpleHaze: Don't lose sight of the bigger picture here -- the world is returning, slowly but surly to a hard money standard. Supply and demand rules. The paper game will collapse under its own weight as a result of the physical reality in the market.

    ReplyDelete
  57. Deucedude: You must be new. Welcome. Generic Blog software like this has limited function. Turd is building his own site.

    You can lookup melt values here:
    http://www.coinflation.com/

    and here:
    http://www.coinflation.com/coins/silver_coin_calculator.html

    ReplyDelete
  58. 37.60+ woo hoo

    I guess David Morgan trashed his reputation with his 29 in silver call.

    ReplyDelete
  59. Xty - Oh!!! Now I understand. Actually I don't question whether the price and timing matters... not so much anyway. I was just opining about why the difference between JS and MA.

    I understand the logic of Armstrong and others who warn or foretell of too much too fast is bad for a long term bull market. I also understand how and why markets can explode and not suffer long term implications in terms of exhausting or postponing a bull run. Both arguments make good sense.

    My objective, particularly since I'm not a savvy trader, is to be involved in what I believe is a major bull trend. Buy on dips and such. The thing that keeps me on guard is... do we have a major (40-60%) correction before we see $50 silver and $1600-2000 gold.

    But here is a comforting thought... If you believe as I do that we are in a major pm bull market that will last for years, then you also believe you must do two things: be in the market. If you buy and it drops 50%, buy more or at least have the resolve that you will be way ahead of the game within a short time. This is why I buy the dips, but keep some powder dry just in case.

    ReplyDelete
  60. Who believes the monkeys are gonna skip lunch today??
    Anybody get the feeling that BOS are at the ready?

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  61. All,

    I followed Turd here from Zerohedge. I don't post much and I don't have time to "Google" stuff since my job keeps me away from the computer.

    This site is Turd's effort to help EVERYBODY, even people who have limited access to the web during market hours.

    I asked politely.

    I'm not posting the rest of today because this site is too important to clutter with bullshit pissing contests.

    Please don't ruin this site.

    ReplyDelete
  62. G - I thought Larry's posts at the end of the last thread were interesting, and this came up earlier too. I don't understand the logic behind what is being discussed. But then I am not much of one for number systems. Charts seem great for the shorter term stuff, especially with Turd to help one along. But the market has too many variables for a strict system to work it seems to me. Throw in an earthquake and all bets are off, for example.

    ReplyDelete
  63. Glad I vented and got that out of my system.
    I agree with "G". Not expecting any response or readers to my lengthy posts but it just flows out sometimes.
    It is soooo frustrating knowing your investing in the right things in the right way and someone with huge money and no legal concerns (JPM apparently) can just have their way in a supposedly free market that is obviously manipulated at the highest level everyday.
    The market/racket rarely goes negative for any reason at all.
    Thats not normal yet thats what were told is necessary.

    Almost Matrix like, minus the aliens of course and subterranean communities of rebels etc.
    lol;-)

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  64. DarkPurple - I hear ya, man. Keep it flowing - helps me stay sane when I do it, and I am always enjoying reading your mind.

    ReplyDelete
  65. I put much of my wife's retirement $$ into silver bullion at $29/oz. Bit my lip, held my nose, and nervously bought at that "high" price.

    $29, high price, yeah ...

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  66. Turd, don't you think that in the early morning crash zone Blythe merely removes her 'bids' many of which are fake anyway, to create the elevator drop. She knows full well that most future traders cannot handle beyond a 10 pt drop in gold price. I frequently buy paper gold and silver at the close on down days and get up early to sell at 4:45a.m the next morning. Then rebuy after the open or a short time before. What she does everyday or so resembles on a micro level the flash crash of May 6 when Goldman and JPM and the other gangsters simply removed bids from the Market.

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  67. Deucedude - The coinflation references are good. Simple rule of thumb that I use after doing the math is $1.40 of 90% face equals approximately one ounce.

    ReplyDelete
  68. Not new here just quiet but thanks for the welcome :)

    Know about the coming new site, but if he can post charts on the sidebar surely he could post a link to a previous post...

    I am looking for a constant value that I can multiply silver spot by to calculate how much per USD face value I should pay for 90% coin. Is .715 accurate?

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  69. Xty - you, chopped liver? No way dear. You are the finest gourmet pate. :)

    Wow... roller coaster of a day for the shiny stuff...

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  70. CNBC discusiing metals shortly.

    I hope they have TF on.

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  71. Magnificent to behold is right! Better than some of the basketball last night!

    Verification: inazip? As in the speed in which gold hits 1500 and silver 40?

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  72. UXG has of late been very strong. MVG is always a reliable manic-depressive.

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  73. About 2 months ago, Gartman predicted gold would collapse to $1090. He's an idjit.

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  74. God - where are all these lame-o questions coming from today? Who is EE? Who is Gens??? WTF??

    Is this the sign of a bubble? Even the uninformed idiots are piling in?????

    Yes - I know the fundos.....

    Luv ya all!!

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  75. gartman is a maggot, who takes money, he has looked so witlessly stupid lately, that he has modified his shilling to buying on weakness rather than an outright sell call for the ee.

    plus on cnbs yesty, he made a telling freudian slip, prefacing a lie with the word honestly.

    he then corrected himself. a foul maggot of a biped.

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  76. God Mandy is soooooooooooo hot! She outdid herself today. SMOKIN!!

    Anyone got bikini pictures?

    ReplyDelete
  77. Larry, imo if you want to be alerted as to a possible crash in Gold in this bull, keep a close eye out on the Rough Rice Market. If it begins to spike again like in 2008, the Chinese will face riots. In order to avert those riots they will need to attack inflation quickly and brutally. The Rice chart will be my indicator I think and it could well apply. Sinclair has said most in the end will not really benefit from the bull in metals because they will become exhausted and shaken out. I will watch the food indexes for clues. A move to head off high food prices by governments in Asia could crash Silver. I am no trowl, but I ain't no fool either. I am a Darwinist when it comes to the Market and a boxer. I always play defense first because I want to remain standing in the later rounds when my opponent is tired and sucking wind.

    ReplyDelete
  78. Turd,

    Our Berkey Light + 2 sport bottles + extra filters arrived yesterday evening. Thank you for recommending it! Our slowly-but-surely approach to preparedness, as funds allow, is coming along nicely. My children will remember your name some day.

    -Badu

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  79. DeuceDude

    Yes, .715 is the industry standard for 90% coin. It's slighttly under the bullion content for an uncirculated coin, to adjust for an average amount of wear. $1 face value will melt down to .715 oz silver. $1000 bag will melt down to 715 ounces. Applies equally to any mixture of halves, quarters, or dimes.

    Don't need a website for that.

    ReplyDelete
  80. .7735 for Morgan and Peace silver dollars

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  81. ILUVPMS

    Good job, how about providing an actually useful comment next time?

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  82. Deucedude,

    .715 is accurate for dimes and quarters
    .720 for halves
    .773 for silver dollars

    ReplyDelete
  83. chilton is a tragic mask.

    this is a good guy/badguy game, good cop/ bad cop...right out of psychology 100.

    chilton pretends to do things and does dick.

    the midget gensler is ex goldman sachs.

    case closed.

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  84. @rthaler71,

    you are 100% right, when shtf food is da currency. My grandma remembers jews with plenty of gold who were not able to buy food from peasants, when germans were harasing their asses here in eastern europe.

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  85. All…

    So is today a BTFD day while silver sits around in the mid-37’s? I wasn’t sure if the general consensus was that today is our last chance because Monday it will probably explode upwards again. Or are we supposed to wait out the weekend because Monday might be a down day below 37 or 36?

    ReplyDelete
  86. TURD!! BlogSpot is deleting my posts again! This one was deleted shortly after I posted it.

    Torx1953 wrote:
    ==================================
    Silvergoldsilver [SGS],

    Please don't post names without explaining who they are and why it is important.

    Some of us have no idea what information you are trying to convey

    Thanks.

    March 25, 2011 7:11 AM
    ==================================

    SGS mentioned the name "Gensler," who, if I recall correctly (IIRC), is the chairman of the Commodities Futures Trading Commission (CFTC), which is charged with regulating the market for commodities futures. In the world of silver traders, the CFTC is generally regarded as a minion of the banksters, including JP Morgan. The CFTC connives in nearly all of the banksters' machinations and wrong-doing.

    IIRC, the only "good guy" on the CFTC is Bart Chilton.

    Furthermore, as Paul Breed suggested, SGS was probably merely joking. Alas.

    -- Paul D. Bain
    paulbain@pobox.com

    ReplyDelete
  87. Today and Monday and potentially "historic" in their demonstration of the half-life of CME margin hikes. Seriously, margin hikes used to knock "markets" back for weeks to months NOT days to hours.
    Solid, new buying that takes silver back UP thru 38 would be hugely significant as it would be the ultimate indicator of the changing times and supply/demand dynamic on The Death Star.

    Lastly, with the site growing so quickly, many of us "oldtimers" are getting hypersensitive to potential "trolls". Lets not be! I'll watch out for trolls. Everyone else just ignore posts that annoy and keep posting positive, helpful info. Please.

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  88. I just wanted to share especially with new traders wrt yesterday's events as I saw quite a few people panicked and looking for advice.

    These dips are but a blip in the long term course. When you see those events you need to be checking if the fundamentals have changed. If they haven't, and unless you are lucky enough to time the market and get out at the top and buy back in later; don't sweat the small stuff. If you act on emotions you will likely sell out at the bottom of the dip and miss the recovery. Never lose your position!

    Someone mentioned the pain of watching options decrease drastically. Yesterday I was away for a bit and walked in to a .60 drop which was well into the 5 figures drop on my options. It stung. I checked the fundamentals and found nothing had changed so I held. Today it's proved to be the right call but I'm not in it for today, I'm in it for the future.

    Had I dumped my options yesterday based on emotions I would have not only lost yesterday but I also would have missed some if not all of the clawback. I would have most certainly lost my position.

    If your lucky enough to get out at the top and buy back in when these dips occur - great! more fuel for the fire. If your timing the market correctly and getting huge options returns, bank some profit once in awhile. Convert to physical. You are not only reducing risk but are tightening supply.

    Otherwise, stay the course and keep your wits about you. At least until the fundamentals change. Were in the $37's bitch!

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  89. @ Torx1953
    I'm not posting the rest of today because this site is too important to clutter with bullshit pissing contests.

    Please don't ruin this site.
    _________________________________________________

    I couldn't agree with you more, as I've had to do the same....just not post! Sometimes, it's just not worth it! This site is too valuable. Thanks for your post.
    Have a great weekend!

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  90. I don't think SGS was joking. However, it's still unconfirmed that Gensler has left.

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  91. Japan just increased the radiation exclusion zone on a volunteer basis.

    http://www.zerohedge.com/article/tepco-reports-increased-possible-radiation-release-japan-expands-voluntary-evacuation-radius

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  92. "Never lose your position!"

    Word.

    I swing-trade option spreads on the side. It's common for a position to be down 50% or more, even though I know it's a good position and will pay off handsomely given time.

    Another trap if you're new to options. The bid/ask spreads during the first 15 minutes after market open are just bullshit. Wide enough to drive a bus through them. They make your position look like contaminated pet food. Market makers love to shake you out of your position any way they can. Watch out for MM tricks, otherwise you're putting their kids through college.

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  93. boy Genzler is a pathetic soul. If I looked like that I might just become a manic little sociopath too. This gangster was probably kicked around and beaten up on a regular basis in primary school. Finally found his niche by learning to cheat and steal in the shadows of Goldman-Mordor. I don't think Meyer Lansky would even let him be a driver in the old school. This


    guy just looks too plainly obvious the villan and would tip-off cops on the street the minute he got behind the wheel.

    Did anyone read Bob Moriarty today about Silver being at a top? Does this guy have any cred?

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  94. PM experts please advise me on which is better to buy ?

    1) Phisical Gold with VAT - 0%
    2) Physical Silver with VAT - 22%

    By following my gut feeling I am still takin #1 option but maybe am wrong ?

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  95. BM would so love to break through 37.20, but it just ain't happening. I expect monster volume around 12:30-1pm again today to push that price down.

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  96. Here's the logic I use to counter those who say you can't eat gold:

    Invest in stocks to protect your fiat.
    Invest in physical to protect your paper.
    Invest in food to protect your physical.
    Invest in lead to protect your food.

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  97. rthaler71,

    Thanks for the heads up.
    Good chart for rice here...

    http://finviz.com/futures_charts.ashx?t=ZR&p=m5

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  98. Alex & sumo,
    Thanks for very valuable posts.. ..Just trying to learn options (as well as hold miners) and appreciate your posts.

    B,
    Love your updates too!

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  99. It's almost time to buy the dip. Remember the monster reversal last Friday?

    Geopolitical risk in the ME and Japan confirms PM trend. Crude suppression is not working so well. When crude reverse the loss over the weekend, it's going to carry PM with it. Up.

    Strategy: buy the dip on Friday afternoon. PM gap up when market opens again.

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  100. To those ^&* that tell me "you cant eat gold / silver" my answer is simple:

    "You cannot eat paper either. Gold has intrinsic value, paper does not."

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  101. Hey Turd, love your site, never posted before. I remember first coming here last year and was a little perplexed and occasionally frustrated with the acronyms that everyone seemed to understand but me. Perhaps a very small glossary at the bottom of the right-hand sidebar might help, and forestall the comment interuptions for clarity?

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  102. Pailin: that's what I'm thinking FWIW.

    EE likes to toss woof-woof Gartman a bone every now and then, make him look good on bubblevision. Mutual back-scratching.

    EE aim is to trigger a small avalanche of selling by weak-handed over-leveraged longs. As TF points out, the margin hike effect has just about evaporated, so what's an EE to do?

    The dots, they join, ja?

    Only matters if you're trading.

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  103. Just a quick update on the inflation front.

    First the bad news. According to my household expenses, inflation has pushed prices up 4.38% so far this year. This equals over 17.5% on a annualized basis.

    Now the good news, if you have invested in silver you are preserving your wealth. PSLV has risen about 23% so far this year, so you're ahead of the game. Gold, however, hasn't kept up with inflation. PHYS has only risen 3.6% so far this year.

    www.verifythecpi.blogspot.com

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  104. @torpedo - Americans have the Constitutional right to bear arms. Many of us view guns as an essential insurance policy.

    ReplyDelete
  105. @Torx1953 and any other new readers, please take a moment to peruse the resource Turd compiled a month or so ago for this very purpose:

    Getting Up To Speed

    @TF - could you make this a permanent link at the top (in bold?) for the time being, while the new playground is being built? Perhaps in the 'About me' section?

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  106. Bear 5 posted a few minutes ago.

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  107. Bears 5 posted by SGS at his own playground

    http://silvergoldsilver.blogspot.com/2011/03/bears-5-saga-continues-in-silver-story.html

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  108. @ Guy F,
    Just bought back in to Tinka this morning after selling yesterday, but I doubled down this time with my Oremex profits. Got Tinka for only a penny above where I sold so no huge loss and am already making money on it again while Oremex is going on sale today haha, might get that one back if it looks to bottom out. All I know is I want all of my silver plays locked in before the final bell rings today.

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  109. Alec,

    There is a glossary of Turd terms in the archive section at the upper right of this page

    ReplyDelete
  110. Right, Mister- thanks. Yeah, torpedo - lead refers to bullets. Buying ammo in bulk really isn't a bad idea. It increases in price just like all commodities and in times of collapse can be quite valuable for many other reasons.

    I've always wanted to draw a diagram showing food and water safety at the bottom, shelter and energy next. 5% in junk silver for direct "barter". 25% in gold for portability in case you have to quickly GOOD. 70% in silver eagles or other equivalent rounds because that will be the wealth builder/preserver. And because you are an optimist. It's not going to get that bad and all that silver mass won't be a logistical problem since you'll be sheltering in place!

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  111. @ Justin

    I got in at .44 only 2 wks ago and now thinking I should have bet the farm!

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  112. news from japan is getting worse (surprise!)

    http://www.pbs.org/newshour/rundown/2011/03/possible-breach-at-fukushima-reactor-injured-workers-exposed-to-10000-times-normal-levels.html

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  113. DD...I'm not so sure that a hard currency of PM' s will be allowed to happen the way I ( or we) think it might.
    We will have absolutely no control when a new reserve currency is chosen. Whether it's a basket of currencies based on each countries PM reserves vs. their GDP or debt etc. I'm not sure how it will work exactly.
    They (Central Gov.'s/Banks) will not allow people to use PM's on a wide scale basis for very long. They would lack control of the monetary supply and they will never allow that to happen.
    I think it's possible we go to a international debit card system that is supposedly backed by PM's/commodities.
    Whether it's calculated in real reserves or inferred (in the ground) resources etc. of the countries would be a possibility. We might see nationalization of our resources in this country for monetary reasons as dictated by the Central Bank.
    What if they simply decree by law that all gold and silver etc. in the continental U.S. is considered the Governments to used in the Treasury as they see fit? Desperate times breed desperate actions.
    All they need to do is give the perception that money is backed by something credible. They know we want to believe money is backed by something of value and that it is viable and not exactly worthless. Think about ETF's like SLV and GLD.
    People scarf those up like they are the real deal when they are supposedly backed by the real thing but are nothing more then piece of paper obligations that get moved around continuously.

    Now imagine a money that we will be told that is backed by all of this gold/silver globally etc. and that this debit card ( A golden-silver colored one) is the new method of transaction globally. The unit is called the "Banco". (Read that somewhere as already predetermined)
    Currency exchange based on a certain countries strength can and will be done automatically and electronically at "the swipe". All transactions are traceable and "taxable" because no private money will be allowed to exist to do any transactions of any type globally.
    Has anyone else noticed the golden hue on our new money coming into circulation? The new $100 is practically golden and not a greenback.
    The psychology of how they try to use a alternative currency is already happening.
    Think SLV and GLD. Bankers love to create different paper instead of real money/PM's

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  114. It's ON! Vols. climbing fast.

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  115. Get ready to enter the last hour of the COMEX buzz saw. So many chances for the EE to scalp . . .

    Here we go. It's already started.

    And so it goes.

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  116. Alec,

    http://tfmetalsreport.blogspot.com/2010/12/turds-glossary.html

    ReplyDelete
  117. They can go ahead and hammer it for all I care, everything at the coin shop will be cheaper when I make my weekly trip there after work today. The price is going to recover next week anyway. These idiots are doing us a favor because we're in it for the long run.

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  118. They sure are working hard here!

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  119. off she goes. I'll be loooking to buy the dip on late monday after option expiration

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  120. paper selling douchathon/raid in progress...

    AC

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  121. Fukushima will be the weekend event. It has been ignored. Plutonium is leaking out steadily there. The Media is trying to ignore it and is by omission cooperating with the Japanese government in it. My opinion.

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  122. AGQ stop loss at 226 yesterday (thanks to atlee who way back on Tuesday suggested 228 as a place to lighten up) saved me from much of that beatdown. Booked profits and now will be buying with both hands come 1:29 EST, presuming we get a bit of helpful assistance from the EE before then. Just my 2-cents, but I think tomorrow through next Tuesday may be VERY interesting... and I want to participate. Good trading friends!

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  123. FED "Exit" strategy BS being bloviated to prop up USD today.....BTFD

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  124. Nevermind 8am. Here we go with the High Noon Hijinx, once again. Ridiculous, how obvious this manipulation is becoming. Laughable really.

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  125. Haha! Oh I love this manipulation. I guess it's time to fire up gainesville and whip out the credit card again. Free silver with every price drop!

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  126. Man! $37 has hung pretty tough so far.

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  127. Those criminals sure have some brass balls. This kind of crap used to happen in shady backroom deals and not right out in the open. But hey, thanks for the discount window!

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  128. Just got a does of Howard Davidowitz on Yahoo Daily Ticker. He talks about the unsustainable path we are on and what he would do as president. I can safely predict we will not get out of our situation without a financial disaster (but most of you here already know that!)

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  129. dose not does (stupid spell chekker)

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  130. @ pining
    AGQ today first support 214.50 if take that out 203.50. Good job buddy. I am out on todays claw back too.

    ReplyDelete
  131. Possible problem here. dont like it but...

    Look at year end 3 months ago, there is about a 70 dollar takedown at the end of the quarter.

    JPM has to mark their position to market at end of quarter which is this Thursday. All kinds of things are tied to this , including bonuses, etc.

    So JPM , unfortunately has a pretty powerful incentive to raid here, and i would be delighted to be dead wrong.

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  132. I fear the gap EE will open between 37 and 36.50, it may be a steep drop!

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  133. This is bad news right ?

    12:09 PM Kansas City Fed's Thomas Hoenig - the lone voice against monetary easing and zero interest rates for a long string of FOMC votes - is retiring Oct. 1 after 20 years as president. The bank's board has formed a search committee to find a successor

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  134. Is it just me, or does today feel EXACTLY like yesterday?! Waterfalls all over the silver chart again. $37 seems to be the stopping point so unless it drops to $36.50 I'm not worried.

    Sold ORM yesterday for a nice profit, so far it's dropped off -5.5% today and now the charts haven't been updated in an hour. Curious to see where it's at when it comes back online. Low enough and I might be back in that beeyotch. Already added two other watch list picks this a.m.

    After freaking out and selling yesterday then regrouping last night, I decided to do the opposite today and go aggressive.

    Seeing the exact same moves today we saw yesterday confirms my decision. Someone is scared and trying to knock out the weak hands...and they are failing judging by the fight that is taking place. I think SGS and Turds are calling this one right, again. Monday just might be the religious experience these bankers need to realize we aren't here to phuck around.

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  135. Watch out for a possible second leg down.

    Hey I wonder if the guys on Gainesville's trading floor wonder why they get a huge influx of orders at the same time every morning and early afternoon.

    Anyway I have a question about the Berkey filter, can you make your own by buying some ceramic filters somewhere else and using 5gal buckets or something? $300 is a lot of money for a water filter.

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  136. Helping Newbies…Here’s a list of common acronyms, of which many came from TF’s 5DEC10 post:

    BoS Buyers Of Size
    Death Star COMEX
    EE Evil Empire
    FUBM F U Blythe Masters (price rise)
    FUCME Glorious price rise
    FUTF F U Turd Ferg. (price drop)
    OI Open Interest
    PIIGS Portugal,Italy,Ireland,Greece,Spain
    PM's Pressious Metals
    POMO Permanent Open Market Operations
    QE1,2,3,~ Quantitative Easing
    TBTFs TooBigToFail's (big banks/etc.)

    Feel free to add to or correct, as I head back to Iraq next week and will be forced to become my normal infrequent reader.

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  137. Unsolicited opinion - don't buy around here until much closer to 1:30 ET, there's surely more of same to come!

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  138. Please don't get all hot and bothered.
    The latest downdraft is nothing but a response to the new nonsense, bullshit MOPE that QE will be ending.
    Blahblahblah...

    ReplyDelete
  139. Here's the culprit:

    Fed's Plosser: Funds rate should hit 2.5% in year
    WASHINGTON (MarketWatch) - The Federal Reserve should hike interest rates from current range near zero to 2.5% within a year under a plan unveiled Friday by Charles Plosser, the president of the Philadelphia Federal Reserve Bank. Plosser did not give a specific time when this exit would begin but said it would have to start in the "not-too-distant future." In a speech to economists from the monetarist school on Friday, Plosser laid out an aggressive plan where the Fed would sell $125 billion of assets for each 25 basis point increase in the funds rate. A slower approach could last 18 months rather than a year, he said. This would require only $67 billion of conditional sales between meetings but the funds rate would rise to 3.5%. Plosser, a voting FOMC member this year, said he did not think this strategy would disrupt markets.

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  140. Just noticed that this drop is occurring at the same time as yesterday. It then moved sideways for a little bit then dropped another .50 almost. We might have a decent sale coming up if it continues to be Thursdays clone.

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  141. OE stuff now. Am and will continue to buy in small increments into the close, no way to say where selling ends because most of the charts I feel are painted anyway, better to use a machine gun and strafe the enemy than a deer rifle with a defective sight. My opinion only. I respect chartists but not when I see the waterfall,elevator drops, they are just removing bids and doing WTC Building 7 Demolition drops.

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  142. Bouncing off high 36.80s right now. Got to love when EE defines a bottom for us.

    IMHO..more to come the next 30 mins.

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  143. Looks like Blythe just got another infusion of Linen fro the FED and cranked up the short paper printing press with it.

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  144. Pailin: I scalped the first leg. Opened a second short on XAG/JPY. I think you're right about a second leg.

    Good ol' Dennis, eh.

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  145. SGS - SilverGoldSilver blog, home of "The Bears"
    GSR - Gold/Silver Ratio
    POSX - The US "Dollar" Index
    DHTF - When the "Dollar" Hits the Fan
    DOLLAR - you may substitute the word dollar instead of the word "shit" or "turd" in any phrase

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  146. Another raid right at high noon, just like yesterday.!!

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  147. http://www.youtube.com/watch?v=bNPJuJSVmNA&feature=player_detailpage#t=75s

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  148. Sumo..don't have the b@lls myself for shorting, few times I tried it the bulls (of which I'm one) burned me so hard I quit for days/weeks in disgust (at myself). I'm a bull and will only play bull. Not knockin' you though.

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  149. Turd,

    Then I expect the ES to rollover too. Right?

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  150. watching XAU and XAG together. EE leaving muddy footprints over both.

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  151. talk about a beatdown. volume was intense.

    word ver: slysters

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  152. MOPE - Management of Perception Economics - wherein they wish for you to ignore the fundamentals and trade on emotion
    FOMC - "Federal" "Open" "Market" Committee (who knew you could pack that much doublespeak in one acronym)
    QE - Quantitative Easing
    JPM - The Morgue
    CME - Chicago Mercantile Exchange
    CFTC - Commodities Futures Trading Commission

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  153. I see single transaction of 1200 contracts.
    6M oz 222M$
    The big hammers are out in force.

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  154. Long XAG/USD, large core position.

    Short XAG/JPY, small scalping/hedging position.

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  155. You have to be fantastically or simply brainless to believe that QE is ending. The world economy is grinding to a halt post-earthquake. The Middle East is on fire. The Fed is currently 70% of the treasury market.
    Go ahead, you brainless algo. Sell your PMs. I'm buying them from you. Thank you.

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  156. Check the XAG vol on 1hr, exactly same as yesterday and about the same result -80 cents.

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  157. The way I see it, we just put in a double bottom around $36.85. Next week is going to be HOT

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  158. Wow. That was intense!

    Yet.. They didn't really accomplish much did they?

    Nice to see $37 is holding. Huge!

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  159. End of QE? Well how will JPM pay for all those paper losses on shorts then? I mean just what they put on today :)

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  160. Audio play by play of this stuff would be awesome!!
    Word verify...ROD(iz)ENT

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  161. Fantastically stupid. I left out "stupid". Sorry

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  162. bank me very much babee, you know you want to

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  163. Still not buying- 1 min chart looks like a bear trap to me. Just one more leg down, Blythe... you know you want 36.50 by 1:30.

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  164. TF: Actually "fantastically brainless" worked also.

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  165. This is like a wave of food poisoning; it will soon be over and those who thought death was imminent will feel foolish.

    I'd love to see the Fed unwind...they'd obliterate the entire financial institution and do exactly the opposite of what QE, TARP, the bailout of LTCM, etc. were meant to do; they'd essentially be doing the exact opposite of what they've done in recent times.

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  166. its just the set up for open expiration and gold futures contract roll. Plus a good old fashion smackdow. No change in fundos.

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  167. Hey Blythe, stick it. I'm just gonna BTFD.

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  168. Support holding at 36.85 and 1422-ish...

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  169. Turd, what's your call for Ag by day's end? Should get really interesting after 1:30...

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  170. sry meant option expiration monday

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