Wednesday, April 27, 2011

Your Fearless Leader

No, not The Bernank. The Turd!

Let's go back over the last four weeks chronologically.

1) In early April, the Turd gives you $45 as a price target by May silver option expiry.
http://tfmetalsreport.blogspot.com/2011/04/others-to-watch.html
http://tfmetalsreport.blogspot.com/2011/04/greed-vs-fear.html

2) Then, last week, I began to warn you to be careful and to watch for the brief, sharp correction that was coming.
http://tfmetalsreport.blogspot.com/2011/04/something-to-consider.html
http://tfmetalsreport.blogspot.com/2011/04/easter-sunday-evening.html
http://tfmetalsreport.blogspot.com/2011/04/be-cautious.html
The Wicked Witch even chimed in and tried to warn you.
http://www.youtube.com/watch?v=WhcFI-vzNXk

3) Then, yesterday, when almost everyone in the media was trying to convince you to sell, The Turd stood alone and tried to reassure you.
http://tfmetalsreport.blogspot.com/2011/04/not-for-faint-hearted.html
http://tfmetalsreport.blogspot.com/2011/04/fastest-10-ever.html
http://tfmetalsreport.blogspot.com/2011/04/tricky-tuesday.html

So now here we are. Back to 1527 and 47.60. Feels good, doesn't it?
If you read all the posts above, then you know by now that we should expect this rally to carry us through next week. Silver will test, and likely best, $50. It may even see $52. Gold, now that it is through 1520, will accelerate toward $1550.
Beginning the week of the 9th, pattern suggests that we should see about a two-week downward consolidation. After that is completed, the table will be set for the wonderful and record-setting opportunity that will be presented to us in June.

For now, here are your charts. Both look great. More later, after the contest concludes at 5:15. TF


p.s.
I appreciate and value all of the donations that I am receiving but I have something for you to consider. I hoping to put together a "Turdathon". I have a favorite charity that I'd like to support and I think it would be terrific if all turdites would donate a small amount of their recent profits. Maybe I can even line up a sponsor who would be willing to issue a corporate match. I'll keep you posted.

248 comments:

  1. I thought what we are seeing today would happen tomorrow...I feel like crap...

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  2. I don't think your senario is working out. AGQ is at the high again, and the last high was with silver priced at 50.

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  3. Ben exits stage and asks, "ok, what's the spot?"

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  4. I think the highest bet will win - I was thinking I was pretty bullish with my guess, but it has been blown away.

    And yes, Turd, you should take a massive bow. Bingo, you were right on the money. Again.

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  5. Turd are you sure that you dont have BMs private CellPhonenumber ? It is getting frightening to see how correct you are always!!

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  6. You are the TOP Turd!!!

    Great Analysis!

    Pogman

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  7. GRADING TIME now at CNBC...

    Some "hi-5's"

    Pisani...can go home fairly happy...
    If his goal was not to move the market too much
    If he wanted to look in command
    If he was anxious about taking on the press (which was not hostile, very respectful"

    Bill Griffin: if there was ever a news conference meant not to make news, this was it!

    Santelli...disagree with Bob...

    significant swing in the dollar at these levels, gold up $22, gold fundamentals haven't changed, what is key is the purchasing power of the dollar.

    Epperson...agrees with Santelli, it's showing in silver and gold...silver, gained a dollar as he was speaking!!!!

    Gasoline is the story, up 2%, highest since 2008

    Steve Liesman saying that news buried in this was that the bar is set high for QE3.

    Bill Gross...Jan 2012 earliest they would raise interest rates.....

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  8. Turd,

    Thanks for the cup of hope.

    Cheers,
    Swampy

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  9. Again

    THANK YOU

    only problem is, now I have to FEED THE TURD!!!

    least I can do.....

    Trying to convince my family to be long physical as well


    THanks!!

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  10. Turd Nails It. As usual.

    Folks, please don't buy the hype from those who know far less than you already do.

    Good on everyone who made money: by holding, by selling, or a little of both. Whatever floats your boat.

    This is one smart group of turds.

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  11. Thank you great and powerful soothsaying Turd!

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  12. Looks like POSX will have to wait til 72.00 to get a "Calvin".

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  13. Dallas Fed:

    "As far as gold and silver prices, I imagine that gold and silver went up in all currencies, so it is not a decline in the dollar"

    Epic fail quotes on CNBC.

    And for Bernanke,

    In attribution to the lower GDP:
    "Defense Spending was lower in this quarter and we expect that to be made up in the future"

    So if we aren't at war we are doomed. Great...

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  14. Mark V says thanks Turd, I felt like a turd over the past few days but have learned a lot. Looking to get out before the 9th and listen to the Turd.

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  15. Look at the miners go!!! And they still have a lot to go, still laggin the metals!

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  16. Markus : den Führer hätte es nu nicht gebraucht

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  17. Sweden thanks the Turdmeister for starting purchasing PM before it's too late.

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  18. @scottj88 i was thinking the same thing... does the bernanke know something that hasnt been told to the public about our war spending?

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  19. I think I hear SLW singing "How do you like me now?"
    Exk doing background vocals.
    Hedgies short miners are so screwed

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  20. so much for the big silver knockdown.......hehehehee......watta mess

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  21. It's a good day for the turd pile.

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  22. awesome stuff - may god bless you and yours for all you do -

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  23. I'm up 20% on my account already today, got in big at 44.60 yesterday and again at 45 today, bennies and FOMC announcement combined with break out of decending wedge... such an easy play today... but you made it even more fun today turd! Awsome stuff... we are living history!!!

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  24. don't blame it on the sunshine
    don't blame it on the moonlight
    just blame it on the ooooilll !

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  25. @ Bill
    Seconded. I was really expecting there to be some sort of 'rally', 'dead cat bounce', 'calvin', whatever you want to call it. I wasn't waiting for the dollar to roll over and die today of all days.

    Well, lesson learned. Regardless of how reputable, trust-able (and I might say, convincing) a source, the dollar can always under-perform even the most pessimistic outlook. And if even the Bernank can't talk the dollar up, nobody can.

    Seriously, I hate the dollar.

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  26. ewc58 - one of the astonishing things about Turd's posts, is that they help all sorts of investors. I pretty much shut my eyes for the past five days I exaggerate but you know what I mean), and that has worked out well - but traders will have made a bundle. And I had a partial convert who bought CEF on Tuesday morning - that is going to look good.

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  27. Wow. Just wow. Translation of what Uncle Ben had to say about the dollar: go ahead and whack away fellas, let 'er fail. We're not even going to do anything to try and kick the can. Holy crap.

    On that note, I'll look to add on the next pullback.

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  28. wait a second, i thought there was supposed to be another dip down to $44.50.

    but the other predictions were spot on.

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  29. Unfortunately it didnt work so well for me.

    You wrote about waiting till after the bernanky speach and then about not knowing if you trust your TA.

    So here i am with no silver and it having risen a lot already. :(

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  30. Turd -- that was very stron. Extremely impressive. You are no "one trick pony". Boy would I love to see the Hamster right about now!

    So, anyone have thoughts on how the Asians will react to the absolute disaster by Bernank.

    Someone must be getting fired right now for having allowed that to occur.

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  31. Silver looks like Sunday Night.

    50 in an hour at this rate.

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  32. @cmill:

    What if he would say the opposite? We will continue to cut on our defense... That would be something, wouldn't it? That would be the ultimate (international call) to everyone that US can't even afford the one thing that truly shows it's still a super power. The world largest army. It's gonna be interesting to see how they keep up with China and especially Russia in a couple of years.

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  33. Great Panther is flying! Sold at $3.98 last week and bought yesterday at $3.12. Now I am up 17% in one day! Honk Honk! 8^)

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  34. Whats this? Do I detect a possible leap to 48? Soooo close...

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  35. Turd, thanks for everything you do. I've learned a ridiculous amount of stuff in the matter of a couple months thanks to your intellectual generosity.

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  36. Yes, the other predictions were what made me take the advice here to wait. I was in silver from 38, bought extra on the downhill, but too early. Then found your blog and decided that having read it earlier would have prevented me from buying to early. I sold everything between 36 and 37 and decided to wait till that second dip that was promised.
    Not to hold it against the blog, i know i am totally responsible for my own trades and should not purely trust in some blog, but sorry, its a bit stange now to read you writing how great you predicted everything

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  37. Silver shorts scrambling to exit the burning building that is fiat!

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  38. atlee

    Excellent pick

    http://www.youtube.com/watch?v=8ORkEOma_iY

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  39. We all need, however, to raise a couple in honor of the Bernank tonight. The way silver shot up today because of his utter "Inflation? What inflation?" bullheadedness was spectacular.

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  40. FOAGQ-

    Sold another third at 359..... I love you, Ben Bernake!

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  41. scottj88 and cmill: I agree with war pig sentiment.

    Should we follow the money and buy Boeing, Raytheon and McDonnel Douglas stocks now?

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  42. Excellent constant predictions again Turd! you're right all the time.
    Keep up the good work with the best PM's blog on the web!

    Greetings from the Netherlands.

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  43. Not to be negative, but this is what manipulation does. If there was no smack down this week, gold would be looking at $1,600 and silver $60. PM's the Rodney Dangerfield's of the investing world.

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  44. 48 come on pullback now, silver has always loved showing me how much faster it can move back down, come and test 46 like a good boy, in fact to aid you on your way i'll buy a little here

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  45. I'm feeling warm and fuzzy on my recent CEF buys and that I added some Impact Silver this morning. Plus all the shiny that is already heading my way in the mail. WOOOOOO HOOOOOOO

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  46. Hey, Turd's not infalliable.....he nailed everything except Benank talking up the dollar. And he's not alone....I got that wrong myself.

    So, we're in a good zone to trigger a pullback. Look around 46.90 and 46.24 to add if price action dictates...let's see if it materializes...

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  47. Mish just sold all his silver and bought gold

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  48. What I get out of the conference is that they realize the dollar will plummet, and they can only hope to delay the inevitable.

    Of course the Fed doesn't want to admit that the longer they delay, the worse the result will be.

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  49. Spent my lunch hour at the local coin shop. Not much silver there besides 90% but enough to supply me with my weekly fix.

    Thanks to Bernanke I was up by the time I got back and checked the spot :)

    Good Job Turd!

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  50. "arjensmit79 said...
    Yes, the other predictions were what made me take the advice here to wait. I was in silver from 38, bought extra on the downhill, but too early. Then found your blog and decided that having read it earlier would have prevented me from buying to early. I sold everything between 36 and 37 and decided to wait till that second dip that was promised.
    Not to hold it against the blog, i know i am totally responsible for my own trades and should not purely trust in some blog, but sorry, its a bit stange now to read you writing how great you predicted everything."

    The second dip that was promised, huh? Whatever, dude.

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  51. This comment has been removed by the author.

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  52. @Eric#1
    TK one of my favorites. Like is older stuff not so much the new stuff.
    How do you like me now!

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  53. From the Wall St. Journal, no less! The Bernank and the JP Morgue are so f'd.

    The mania for silver has spread to the stock market as day traders pile into the buying.

    Trading got so heated during the past two days that shares traded in the iShares Silver Trust, the biggest exchange-traded fund tracking the price of silver, topped that of the SPDR S&P 500 ETF, usually one of the most actively traded securities in the world.

    Day traders "are going crazy," says Joseph Saluzzi, co-head of trading at brokerage firm Themis Trading. "It's typical of the bubbly speculation that's been going on in silver."

    On Monday, trading in the silver ETF was especially heavy, as silver prices soared to new 31-year highs and approached $50 an ounce. Silver is up 46% this year, part of a nine-month rally. The heavy ETF trading continued on Tuesday, as silver prices retreated.

    Volume in the silver ETF on Monday reached a record 189 million shares, compared with an unusually low 65 million for the SPDR. The trading in the silver ETF was five times that of the 37 million daily average of the first quarter and blew past its previous daily peak of 149 million shares set in early November. On Tuesday, the silver ETF's trading was 125 million shares, falling just 21 million short of the SPDR volume.

    The volume in silver ETFs is remarkable because the ETF until recently was relatively small and was shunned by mainstream traders. Its ascent reflects a surge in appetite for silver, which itself is reflecting a rise in the price of gold.

    Investors have turned to precious metals amid worries about inflation and the weakness in the U.S. dollar. The metals are increasingly considered attractive as a permanent store of value that doesn't diminish like paper currencies.


    http://finance.yahoo.com/banking-budgeting/article/112618/silver-rush-stock-market-wsj

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  54. "SilverBolt said...
    Hey, Turd's not infalliable.....he nailed everything except Benank talking up the dollar. And he's not alone....I got that wrong myself."

    Thanks, Bolt.
    I think its slightly unreasonable for people to expect me to 100% accurate all of the freaking time.

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  55. @ratpax probably not a bad idea!

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  56. This 48 looks like a bull trap people. I hope you do not get wrong enthusiasm and buy into it. 45 - 46 was and maybe still is the area to buy.

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  57. SilverBolt said...

    Hey, Turd's not infalliable.....he nailed everything except Benank talking up the dollar. And he's not alone....I got that wrong myself.

    So, we're in a good zone to trigger a pullback. Look around 46.90 and 46.24 to add if price action dictates...let's see if it materializes...

    Of course the Bernakio talked up the Dollar. It is STRONG and Stable isn't it?

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  58. Fast Money...options FREAKSHOW on SLV...options trading

    Brian Kelly asked if "stronger dollar (I think that's what she said) in the intermediate term would jeapordize the trade" and he said NAH...."intermediate" means 2 YEARS....

    The 2 YEARS was what caught my ears!

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  59. Firedollarz

    Hello Nederlander!! I got my eye on some 10 gulden gold coins at my local shop for a swap tomorrow!!

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  60. Crowd chanting "TURD.. TURD... TURD...", the man in the oversize yellow hat walks onstage to thunderous applause. He lightly tips his yelllow hat then starts casually flicking ASE's to the enraptured mob, whipping them into a near-religious frenzy. And somewhere, in a cool air-conditioned penthouse office, a blonde commodities desk director stares icily at the computer feed of the scene, hatred burning like a bright blue flame in her eyes. Stone faced, she hisses "This isn't over yet, Ferguson..."

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  61. Turd turd turd, turd is the word!!!

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  62. Come on Turd
    You walk on water man!

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  63. What a KILLING! Love it! Hi Ho Silver.

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  64. "Marvin said...
    Markus : den Führer hätte es nu nicht gebraucht"

    Eigenlob stinkt. Sonst hätt ich's nicht geschrieben. Aber Turd is schon echt ok :).

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  65. "arjensmit79 said...
    Yes, the other predictions were what made me take the advice here to wait. I was in silver from 38, bought extra on the downhill, but too early. Then found your blog and decided that having read it earlier would have prevented me from buying to early. I sold everything between 36 and 37 and decided to wait till that second dip that was promised.
    Not to hold it against the blog, i know i am totally responsible for my own trades and should not purely trust in some blog, but sorry, its a bit stange now to read you writing how great you predicted everything."

    Promised? Are you an idiot?

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  66. I wonder if Asia will jump on the Silver ship tonight?

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  67. Arjensmit79,
    I don’t know what you’ve been smoking, but I’ll pay you spot silver for a quarter bag, cause that must be some really good shit.

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  68. I actually thought people would believe Ben...timing is everything...other opportunities coming!

    thanks TF...mucho appreciato...

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  69. Your da man Turd.

    Kept a core position of the miners: CEF - EXK - GPL - ISVLF & UXG.

    Holding steady for a 9.5% gain overall.

    Thank you Turd & ites one and all!

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  70. hat award ceremony at turd's backyard barbeque and extravaganza!
    BYOBS
    (bring your own beer and silver. or just b.s.)

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  71. Perfect call Turd. Having a great birthday cause of you! My prediction from earlier was a bit low happy to say.

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  72. @ Turd

    I would remove the word "slightly" from your previous post. LOL Heck, you can make a ton of money with 50% with the right money management. From my observations, you're well above 85%....so what more can they ask for, I mean really? I truly believe that for most, the hurdle to success and a virtual atm is the lack of understanding of risk management and probability.

    I, for one, appreciate your efforts and willingness to share your insights.....

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  73. POSX 73.31....Countdown to Close. :)

    What in the world could ever make it go back up?
    Any ideas? I'm coming up short.

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  74. Arjensmit79

    Did you keep your receipt?

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  75. Cue the Imperial March - on yer toes people. This may be short lived...
    http://www.youtube.com/watch?v=Bq6oz4Lq4tQ&feature=iv&annotation_id=annotation_57549

    Word ver: farti (NO KIDDING!!!) I about spit coffee on my keyboard!

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  76. This 48 looks like a bull trap people.

    Maybe. Maybe not. It looks like Sunday night to me, when all hell broke loose and it kept climbing. I think it challenges 50 again, and rockets right past it.

    Buying physical is always the safe thing though.

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  77. Turd: I wonder how much Simon Black is lovin' his ZSL move now?

    Man how many times do people have to be wrong?

    "Let the Trend Be Your Friend" is all one had to know.

    xty: way to get others involved, bravo to you. You never know what you have just started in that life, as well as those it touches. By your input, you've added a small spark of true growth to real lives.

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  78. My May 28,30,31,32,33 calls would like to thank the Turd and The Bernank

    They should have the Bernank talking every week!

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  79. TURD, YOU ROCK! Your spot-on analysis and timely advice has just made me a ridiculous amount of money! Thanks for everything that you do, and keep up the awesome work! You're my hero!

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  80. @ arjensmit79,

    Why would you sell, your physical? Senseless!

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  81. "The second dip that was promised, huh? Whatever, dude."

    Yes, the one about bernanky talking the dollar up and silver down.

    Again, i know i am responsible for my own trades, and i wont blame anyone but myself, but i just cant see why one would claim to be so greatly predicting everything. When bernanke does exactly the opposite and talks silver up.

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  82. Nobody fucks me like I fuck myself

    -Ben bernanke

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  83. This comment has been removed by the author.

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  84. oh yes true, i still have my physical of course :D

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  85. I have calls on the SIL (Silver Miners) (wish they were SLV hehehe)

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  86. one dollar bob! I'm not clear on the rules...

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  87. Turd,

    Can't thank you enough. Bought around $44.90 to 45. Kept some dry powder which I didn't use. $48 now. AWESOME. Can't wait for next week.

    FM

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  88. Great Panther is my hero of the day for sure. Been a while since that baby has been at the top of the charts. Welcome Back Panther!!


    Meanwhile, Au/Ag still rippin'. Latecomers gotta get back in, shorts gotta cover and lick their wounds.

    Kung Fu Panda: "There is no charge for awesomeness!"

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  89. Turd, If I could buy you a beer through the threads I would. You the man!

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  90. You sold everything? Umm, that doesn't sound like advice you found around here.

    Eric #1 - I am in a very similar boat - got some PHY.U, PHS.U and CEF at pretty good prices, and on Tuesday I noticed I had a little bit of cash in my miner account and bought some SLW. Coins are in the mail. Awesome.

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  91. Didn't Asia just push this thing to like $49+ less than 72 hrs. ago?

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  92. The news is that Ben quite casually confirmed that there will be no QE3, but that maturities will be re-invested (as I believed)... this effectively means QE∞, so it's "game on!"

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  93. Turd! when the pullback came it went through it like a calm cool breeze without a care in the world, it was weird to see those around me on the boards freaking out and yet i didnt have a care in the world, thanks fort being our anchor in the storm.

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  94. "'I think its slightly unreasonable for people to expect me to 100% accurate all of the freaking time.' From The Sayings of TF"

    Look, Turd, I think we can all agree that we're not sycophants here. And we certainly don't expect 100% - but a percentage of 99.99^repetend I think is definitely doable. ;)

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  95. @arjensmit79,
    From your comments it is obvious that your responsibility level is way too low for you to be trading. (Either that or you are just a dishonest troll.)
    Here is some friendly advice: just buy and hold physical gold and silver. (And if you lose money, blame yourself.)

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  96. Turd,
    I gotta tell you. I am learning to read (I mean really read and digest) all of your posts. And because of that.. I am starting to make some money as I went back in to some SLV yesterday after 'digesting' your words. I can't thank you enough. Someday I'll tell you just what this is meaning to me and my family. For now, I DO NOT want to get overly confident. I am the lowliest of your readers in the sense of what I have and in what I am trying to accomplish. I thank you from the bottom of my heart. I would never blame you if my trades went the wrong way. The decisions are mine. But I sure do want to thank you when they are going the right way because the simple truth is...you are very gifted and even more importantly..you are very selfless. I am stunned by what you share here. And the 2nd simple truth is... I wouldn't be doing as well if I'd never found you (from DAY ONE I might add...from ZH;) ...Thank You Thank You.

    Bill,
    Remember there will be dips. There are always dips and corrections.

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  97. Turd,
    You forgot about your great calls on oil!

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  98. Message from SLA:
    ------------------------------------
    We don't have a lot of time right now but I wanted to make sure that you are all in tune for this weekends massive announcement and will open your emails on Saturday at 1:30pm EST.

    With today's Fed announcement about the continuing of QE2 and no interest hikes, silver has seen it's dips and here we go again!

    This weekends announcement is the biggest movement Max has done yet and it was softly mentioned in the last "On the Edge with Max Keiser" in the second half of the episode. The Silver Liberation Army is now going to the next level and it is going to be covered by all sorts of media.... EVERYWHERE!

    So make sure you stay tuned for Saturday's massive announcement before it's made public next week. The SLA always gets the "goods" before the public.

    --S.L.A.--

    P.S. The dips are over, grab your cheap silver while you can.

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  99. $2 increments coming soon to a Kitco chart near you!

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  100. @ arjensmit79
    I think this will explain everything,you had it all wrong man

    http://www.youtube.com/watch?v=1ytCEuuW2_A

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  101. Bull Trap Bull Crap

    definition of bull trap, mkt has to be in down TREND first. When you don't know the definition of the terms you are using, you have ZERO credibility.

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  102. arejensmit79. It's not too late to leave. And it's not too late to get on the train.


    Either way use your own head as well as the info available.

    Ask yourself if the Turd is the most right you've read. Then you'll know what to do.

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  103. So OK, now even Ag 48 is making me look stoopid.

    Next stop: 50

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  104. Hunt Bros. high in the rear view tomorrow!

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  105. Markus,

    I appreciate your caution. I have been sitting on my "paper route" money and my sister has been saving her "baby sitting" and lemonade stand profits waiting for an entry point in the silver market. Dammit- should have BTFD!

    Dude, we are adults here. I can take care of myself, thank you!

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  106. Markus - ruf mich mal an :)
    vlk-a@seznam.cz

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  107. Titus, agreed and very good advice.

    TF, thanks for everything & continuing to calm the ship in stormy waters. Btw, great idea on the "Turdathon" Charity!

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  108. Re Bulltrap

    Atlee - Thanks for setting the record staight on the definition of a bulltrap. I wanted to ask what exactly it means each time someone claimed a bulltrap was in progress. I couldn't picture how the trend PM's are on is a trap. How can this trend be anything but a friend?

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  109. From Daniel FCB:
    I, along with some others here, have been taking it up the you-know-what lately in the PMs. But I got some ammo ready, dumping a few non-performers. Was very nervous this AM before the FED talk even with the Turd advising me to relax, whatever happened in the next few days, all would come out okay in the end (pun intended). I was agonizing, "Go in now or wait for the dip if Bernanke says the wrong thing?" Suffering like Hamlet I was. Then I read on Yahoo's Finance home page something to the effect, "Bernanke not expected to rile the markets." "I'm in," I said and bought more options for SLW 2012, EXK Septembers, some MNEAF (after its recent crash). Some others as well. Then came the news and the PM's reaction. Yes! Right now very happy, but we'll see what happens. Also, I had bought some SLV May puts a few days ago and sold them this morning one penny from their peak. Ah, as someone once told me as she rejected my generous offering of all-consuming love, "It's not you, Daniel. It's the timing." Okay, today it wasn't me; it was the timing. I'm fine with that.

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  110. Endeavour Silver to Release First Quarter 2011 Financial Results on May 5, 2011, Conference Call at 1:00 PM EDT on Same Day

    http://finance.yahoo.com/news/Endeavour-Silver-to-Release-iw-2041019895.html?x=0&.v=1

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  111. Here's why I entered @45.20

    Hourly bollinger bands were closing the gap. It was indication of breakout. It was so tight.

    http://i54.tinypic.com/msdez5.jpg

    8 hour slow stochastic was pointing up.

    http://i51.tinypic.com/rwi7g1.jpg

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  112. The person I feel most sorry for is Blythe....BaWahahahahahahahaha. Guess she is at the airport.

    Sry cant help it. I'm giddy. Going back to the steamroller (TP roll)

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  113. 1530 has been taken just now.

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  114. Wow, you are THE man... I am in for the donation. Please post the details.

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  115. true, there are some very right things in the predictions, but also some important flaws. Just a bit anoying to see such self glorification after i took action on the flawed part.

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  116. Maybe Turd can give us a heads up on new entries at this level, if and when ?

    Btw. @arjensmit79: it's not only your name that tells us you're Dutch..

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  117. http://www.youtube.com/watch?v=1ytCEuuW2_A

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  118. Step off Arjensmit. There is no crying in baseball or silver trading. Enough already.

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  119. @ arjensmit79

    Get over it. If you're that thin-skinned, trading clearly isn't for you. Take Titus's advice and simply accumulate physical for the long haul. And stop being an ungrateful crybaby...you have zero idea how many people on this thread have greatly profited from the information Turd posts here.

    Sorry.....tough love moment.

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  120. Technicians will no doubt recognize today's trading pattern as the "rising anaconda" formation. Rising to bite Ben in the ass.

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  121. @ Eric#1

    Besides the 10 gulden gold coins, lets also buy some extra truckloads of silver eagles comming the next small dip....we still have enough overhere :-)

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  122. Lol @ some people in this thread.

    "Whoever can supply the masses with illusions is easily their master; whoever attempts to destroy their illusions is always their victim." Gustave Le Bon

    Marwin, mail is on its way :).

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  123. arjensmit79,

    Please stop trying to discredit the blog leader! It's getting old and you're not making any friends or impressing anyone.

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  124. @ Apples:

    whahaha... you learned a lot from the Wicked videos.

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  125. atlee - deja f'n vu. I think you should rename it the Bull Crap. I was already going to say something about can't silver just go up once in a while? How can it get to $60 without going up? Damn, the top callers never sleep.

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  126. @Argentsmit79

    Right now you are smarting from missing a big move, but don't waste time on looking back. The move is still ongoing. We're at 48.09 heading for maybe 52! Get on board.

    I actually fought off the urge to buy more calls this morning so I could wait for the FEDSPIN induced dip. If I had bought then I would be up even more. But I also have an obligation to think for myself. When I realised the FED FOMC minutes would be released at 12:30, I figured that was the time the markets would react. I waited for the dip, saw the market headed the other direction and jumped on then.

    Do I blame Turd for a calling for a post-Bernanke market reaction that happened pre-Bernanke? No, he was absolutely right about the dip to 45 (and a little more). Listen carefully to Turd, but you have to watch the traffic, too.

    Turd - Great job! The video was really an excellent way to do it. Many kudos!

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  127. Turd!

    Muchos Gracias mi amigo! You the Man! Everyone else who contributes to this wonderful blog, thanks as well! The collective intelligence of the community is insightful whether bullish or bearish and is greatly appreciated. Having many heads thinking through probabilies has really helped me in making the right trades at the right time.

    The only way to describe today is epic. I sure hope everyone followed Turds advice.

    I'm up 300% on the SLV calls I picked up yesterday and after throwing the proverbial kitchen sink into SLV options within minutes of reading the fed statement... It's been a good day to say the least. I wouldn't have done either without all the guidance and insight of people who contribute to this blog.

    Will definitely be tipping the cookie jar on the next round of profit taking.

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  128. Silver @ 48.04

    What the hell did Bernanke say in his speech?

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  129. No worries, i have much more physical than what i am trading with. The trading is just an experiment actually. (experiment to turn 250E into 10k, then reevaluate, i'm at 1500 now) I hope we are gonna have a little pullback now from this 48. Just doesnt really feel right to buy at this point. If it goes back a bit, i will buying again.

    Sorry for the negativity. I think i just have to learn how to interpret the turd predictions and combine them with my own intuition (because yes, my own intuition told me to buy yesterday at 45, but decided to wait for the bernanky talk thing)

    Maybe soon after some positive results from turd advice i will be posting praise here as well :)

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  130. Blythe and monkey boy are on the beach suntanning in Venezuela.LOL

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  131. And APMEX thought they had a an eagle problem yesterday... :)

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  132. and that little dip seems to be developing now :)

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  133. hit some agq and sivr today thanks turd will feed

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  134. My friends. It's an honor riding this train with you. :)

    Here's hanging hope on Sydney and Asia taking and running with the baton later.

    Goodnight from Asia.

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  135. SSL - Sandstorm on the TSX - is doing marvelously.

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  136. arjensmit79: I'm doing the same thing with a small pot of money. It is working so far trading front month or two month out options on SLV.

    Thanks for the commentary Mr. Ferguson!

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  137. FOAGQ-

    I'm liking the laddering, sold a third twice on the way up and still holding a third overnight just in case.....psychologically, it seems to work, I'm booking profits but staying in the AGQ game.

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  138. How about we support Ron Paul / the Constitution / our liberty / sound money our venue for freedom!

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  139. @ arjensmit79

    If trading is just an experiment, I would strongly encourage you to stop risking money right now. Physical is one thing, trading with leverage is a horse of a completely different color. It took me years to learn how to trade. It takes most years to learn how to trade. The vast majority of people can not expect to "jump into" trading and make money. Many will lose their accounts there first few runs out. Practice trade until you can be consistently profitable for at least two months.

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  140. Congratulations to all of you who were "in" and I'm pleased with the performance of my core...learning a lot here...btw my core is up approx 600% so I'm not crying...but DAMN wouldashouldacoulda on today! I'll keep watching, dabbling, and learning...being positive!

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  141. Here here JoeKa..Hunt highs in the scope!

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  142. Only thing I regretting is not buying at 44.60 :)
    Will hold my position till next week.

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  143. GPR on the TSX, GPL otherwise, is up 17%. I know it has a long way to go, but that is a good start.

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  144. Blaming the blog creator?

    I need to go back and delete my post about the cardboard toilet paper roll bong replacement.

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  145. Thanks Turd. Thanks a lot.
    You are the best !

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  146. What a day! And still going. When Bernanke was blubbering his way through, I was laughing for myself, but crying for the next generation. These asshats have to get the hell out of Dodge.

    Would you rather have Ben Bernanke remain in charge of the Fed? Or Turd Ferguson? Turd wins by a landslide!

    Funny how we'd get less bullshit with a guy named Turd.

    I really lost the hat contest today, but it's like carrying my umbrella -- makes sure it doesn't rain.

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  147. Chin Music - it's okay, you didn't tell him exactly what to put in it.

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  148. Soon silver will be right there with gold, making all time new highs in the daily news. Wonder if that will change the publics perception as to the value of FRNs. Weather forecast = Tidal waves of FRNs flooding coin shops everywhere.

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  149. @Vinzz

    Dude, there are some cool Dutchies on the board as well! ;)

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  150. "D E said...
    Would you rather have Ben Bernanke remain in charge of the Fed? Or Turd Ferguson? Turd wins by a landslide!"

    Neither (No offense Turd). Go with option number three - Abolish the Fed! It's perhaps the single greatest threat to the American people than anything else out there....

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  151. Arjensmit79,
    My advice, invest in physical only, at an investment ratio of 50-50, and make trades on a quarterly basis to keep that ratio true. You will not go wrong with physical, just buy on a dollar cost average basis. The dollar is being flushed slowly down the toilet, and prices really don’t matter. Turd is not responsible for your family, you are. Don’t come crying when you didn’t buy into the bull market. It’s time to get smart is now, I was called an idiot for buying gold at $850.00 and silver at $16.00. It’s not about profit any longer, it’s about wealth preservation.

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  152. SilverSurfer - Great chart.....

    Thanks Turd - I sold most of my holdings last week when you said "Something To Consider" post. Waited until this week, half my powder on, Monday could not resist the red, and half my powder yesterday - more red. Making more money now that everything is green.

    Did I time it perfectly - no - but did make money listening to you GREAT ADVICE!!!! THANKS TURD!!!!!

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  153. i know silverbolt, but not wanting to be arrogant, im a pretty fast learner, and i have read an awefull lot about trading last month. Also i'm only risking 250E. I also know that you are supposed to trade only like 1% of your bankroll on a trade, diversify etc. But that way you cannot even expect to double your money in a year. And doubling a few 100 euros in a year is not really worth the efford. So i willingly risk 250 euro at trading way to risky for a chance of huge profits on silver only. Because this trent seems to be a once in a lifetime chance, i dont want to waste time. Also, i think trading with fake money wont be such a good lesson anyway, its different, just like you cant learn poker with fake money.

    Up till now my plan was simply to be permanent in silver at a leverage of about 10 (a little more at the peaks, a little less at the bottoms) and keep adding to my position. That way, if silver doesn't drop back significantly more than 10%, it should be possible to multiply the starting sum exponentially. Of course there is a risk to lose it all, but its very +EV i think :)

    Im gonna proceed that strategy, and i will keep reading the turd to help me find the bottoms for buying extra, and identifying the tops for some extra safety against the >10% fallbacks.

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  154. I'm already looking forward to Asia's interpretation of the puppet-master's speech..

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  155. Rappers now seen with silver grills and gold bullets!!!!

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  156. I tell you this, Trading without the Turd was the Shit! Now its coming up roses. A 3G day. Many Cheers. ( Hope the new site has emoticons with Beer mugs!)

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  157. Didnt someone great say you cant please all of the people all of the time...

    Well count me in the pleased corner. Thanks to Turd's thoughts on the markets I was able to stand down for a couple of days and then loaded up today. Booked over 11% today alone and cant wait for Asia to open.

    I trade the FOREX with 50:1 leverage. Turd however is the GREATEST LEVERAGE.

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  158. AGQ up 14% today! Turd, can you get Bernanke to talk everyday???

    THANK YOU for the resolve to stay in and not miss this rally!

    Thanks to Old Navy for telling me to run, not walk, to pickup Maloney's book. Great read, finished most of it in a day.

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  159. Turd -- you are THE MAN!

    AGoldHamster -- you are THE DUMBASS!

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  160. Turd should go on tour with Zane Lamprey. They both are awesome.

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  161. I love that description. What my sweetie and I used to call that "boner" formation just got a new name: "rising Anaconda." It's all good...

    Ol' Michael
    ...feed the Turd; he's the shit...

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  162. arjensmit79...not wanting to be arrogant??? Probably a little to late for that. Just for warm and fuzziness..you might want to change your screen name, you may have alienated a few.

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  163. I'm not a "trader" but have been on the silver train with my IRAs since below $20...giving me a nice head start to retirement, considering I'm still less than 30 years old. (Yes, I scooped up a bunch of physical too...)

    Anyway...got a question for you options guys: I'm a programmer and have some novel data-interpretation ideas. I've heard you guys mention thinkorswim before. But I don't know enough about these platforms yet. What kind of "inputs and outputs" do these trading programs have? Say I wanted to "automate" something or develop some complex algorithms, is there built in functionality to interact with the trading platform or would I have to 'hack' an interface?

    Thanks!

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  164. @SwampFox: "What the hell did Bernanke say in his speech?"

    See the chart I posted above... The entire speech summarized in 1 chart!

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  165. Eric#1 - Thank you for that great explanation about the causes of the negative premiums, but I do not think I will need it now. They have left the building!

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  166. Behold! Another QUANT in the making... *grin*

    AugmentedFourth said:
    "I'm a programmer and have some novel data-interpretation ideas....Say I wanted to "automate" something or develop some complex algorithms, is there built in functionality to interact with the trading platform or would I have to 'hack' an interface?"

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  167. How do we synthesize the expectation for technical performance of silver, as described by Turd, with miners announcing Q1 results in the next few weeks?

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  168. Arjen...look in the mirror to see the little dip.

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  169. I missed today's rally (can't trade during hours Fed was speaking). No dead cat bounce for sure. Asia will probably give the metals another push. See where to step in tomorrow.

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  170. Augmented-

    "TA doesn't work in a manipulated market"

    Turd mostly seems to use resistance and support levels for his analysis, along with interpreting the events and how it might affect things (are you listening, arjensmit79?) which give me things to be aware of while watching the tape... but for the short time I've been trading PMs, they seems much more driven by MOPE than any analyzable variables inherent in the market.

    Just my .02 (.04 after today's trading!)

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  171. Great chart! That's precisely how I interpreted Benny's speech too. Arj, you still got 250 euros? Go buy some silver Philharmonics - you can probably still get a few - and you can thank the others here who gave you good advice later. Cheers!

    Ol' Michael
    "...paper is paper..."

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  172. Bullstones I agree - I wonder if we could get the Bernank on tomorrow - start earlier and stop later. The ol trading account set a record today in %increase, $increase and $balance. Now I'll have to figure out how to use the "feed the turd" button! Thanks Turd and all contributors here.

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  173. Dr O - get him on cable, with a late night Asia edition.

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  174. @all do expect another move higher now?

    Volume seems to be picking up a little bit...

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  175. bankster fraudsters horrified. Slab of Jupiter sized granite hanging inches from the rat bastards heads! Dangling by 71.30 all time low USD. You won't see no pull back until silver over 50 headed to 55-60. My dad deployed the rest of the profit he took off the table in PSLV last week before the benocide freak show. He's so giddy he'll live to see 100. Laughter the best medicine. USD panic selling commencing on the stroke of yesterday, into today and continuing into the night. All your tax dollars eatin up by China/Japan dumping more than trillions combined. Yesterday, today, and forever. Mark crashcading under USD, in your new age historical word wonks of the 21st century. By the time AmeriCON'd opens their eyes from the deep sleep they're in?? We'll be communicating long distance by cans & strings. If we can afford that through hyper-inflation..........

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  176. Turd: What PERFECT calls.

    I was hesitating yesterday morning PRIOR to reading yr calls. Then armed iwth yr knowledge, I jumped in & WOW. Haven't got this much excitement around here since my little Princess was born.

    Thank you Turd

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  177. Turd you are the "Shindizzle - My Nizzle" as they say in the hood.

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  178. putting the kraft mac and cheese back into the cupboard and going out for steak.

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  179. afrum - Eric #1 and Johnboatcat will have the cans. We just need a source for string.

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  180. Just lost out on a chance to purchase 25 nice Franklin Halves on Craigslist. The seller was asking 34x face value and Mammoth offered a tad below that.

    So despite what the top-callers may be saying - since it is a seller's market, then we've still not yet peaked.

    -Mammoth

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  181. "Behold! Another QUANT in the making... *grin*"

    Naw...engineer for life!

    I'm not really interested in high-frequency arbitrage or attempting to seek out and profit from information disparity. Basically most of what I've heard about the 'genius quants' is unimpressive; Basically using computers to do the same thing any smart human could do just at 10,000X the speed and volume. There's nothing "novel" in that. Besides, I don't have the resources or connections to compete on that level.

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  182. @Arjensmit

    You said:

    "I sold everything between 36 and 37 and decided to wait till that second dip that was promised."

    What promise? And if you sold between 36 and 37 why weren't you buying back by at least $40, $41, $42.....? Remember THE TREND IS YOUR FRIEND>

    Take oldNavy's advise get on board now. But READ and UNDERSTAND what Turd is saying. He's not going to send you an email directing your moves.

    Thanks Turd!!!

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  183. @Jack
    LOL, If you are looking for a little dip, look in the mirror. too funny! Wish I'd thought of that.

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  184. Hey....I called 1575!

    Looking pretty good for the big yellow chapeau!

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  185. Very cool word cloud of the Bernanke press conference - surprisingly strong showing for committee and committee's - and inflation the biggest of all!

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