Gonna Need More Hats

This week's contest has officially ended and, once again, we have two winners! Out of 300+ entries, we actually had two Turdites pick the same number and they both were only off by 10 cents. The winners are....

"GDH" and "Two Gun Tobin"

Congratulations! When you have a moment, please send me an email with your mailing address and your authentic, Turd Ferguson autographed yellow foam hat will be put in the mail. (Provided I can get it mailed before the USPS declares bankruptcy.) Both predicted $1742.50 and the official Comex close for the Dec11 contract was $1742.60. Wow!

As expected and predicted here late yesterday, gold right down to support this morning, near 1725. The actual low came at about 10:45 EDT at 1725.80. Not too shabby. At about that point, a lot of folks seemed to realize they'd rather be long, not short, gold over the weekend. It has since rebounded about $20 and I have a Globex last of 1745. The only thing we didn't get today was a commensurate drop in silver, which is just fine with me. I thought it could briefly fall below 38 but it never did, having only made it to 38.22. It is now back up above $39 as I type and is ready for a very important and pivotal Monday and Tuesday. See below.

I'll spend some time this weekend going over what I expect to happen next week. For now, here are some charts to peruse as you wrap up your Friday. Try to draw your own conclusions and see if they jibe with the predictions I'll give you later tonight or tomorrow.

I have an opportunity tonight to be on a conference call/discussion tonight with Clif High. I don't know how many questions I'll be able to ask but, if you have anything you'd like me to mention or ask, please list it in the comments below. Have a great Friday. Go relax and have fun.  TF

paper_8-12pmgold.jpgpaper_8-12pmgoldw.jpg

paper_8-12pmsilv.jpgpaper_8-12pmsilvw.jpg

420 Comments

Piter's picture

woho

woho

MIDDIE's picture

@ TF

Thanks for the great work, have a good weekend!

Shill's picture

"GDH" and "Two Gun Tobin"

Lucky Bastards :) great calls, lets see those Yellow hat pic's!

Turd, would love to watch a live feed of that Q&A that would be entertaining between drinks :)

My question: Please ask him about the mining sector and does he feel a breakout is coming.

Thank you

Josephj36's picture

I Want a Hat

Turd, where do you get these hats from? hope to win one sometime so I can put it in my safe with my PM

RockinJohnnyT's picture

Have a Great Weekend

Justin's picture

Good job

Congrats to the winners!

MisesFan's picture

re: Clif High

Congrats on the Clif High gig!  Will you post the interview (like you did for your previous interview)?

Is Aug 26th(the Bernank's moose knuckle meeting in Jackson Hole) a "tipping point"?

Gibboslv's picture

So Near And Yet.....

Was only $3.40 off.  Oh well congrats to the winners!!  Silver going up today has eased some of the pain of not winning the hat!! 

Strongsidejedi's picture

MOPE for the weekend?

After the volatility of the past 10 days, my guess is that this is a slow news weekend from Europe.

Asia, on the other hand, might be a different story.  The situation in Japan causes me to wonder if the Japanese will intervene in the next few hours.  They might be out of liquidity to do the intervention, but basically the situation demands intervention because the USD/JPY is trading right back at the prior intervention level.

If they intervene after market close today, they would pick up the trade and then also get Monday morning's trading day to jump on it.

I'm guessing that Asia will jump on AU and AG pricing if the fiat allows.

speconomist's picture

...

As a fortunate owner of a fantastic yellow-foam hat I congratulate the two new winners!

rawtruth's picture

Re: Clif High tonight

Please ask Clif about the $5 and $20/day moves in silver which he claimed last week were coming this past week or next.

Thanks.

stoneeh's picture

Ok congrats to your little

Ok congrats to your little guessing game.

As of the COT report, silver LCNS down to 35k again. Gold down a lot too but still very high.

- Markus

Strongsidejedi's picture

SLV behavior

I notice that SLV share valuation seems to take orchestrated beat downs in the second week of the last 3 months.  Then, there is a reversal during the third week as the SLV moves up between Silver OEX and FutEXP.

Gee...isn't that interesting.   enlightened

lostinspace's picture

New Contest

If anyone can call the day Ag breaks $50...

Hugh will send you a new Streamlight Super Tac flashlight.

All predictions due by next Friday.

debtless's picture

Phil's Gang

Anyone here use or know anyone who trade's with Phil's Gang?

71185208's picture

Yeeeaaaaahhh!!!

Kewl!

I get a yellow hat!

Thanks Turd!

Will make it a profile pic once in due course!

henry's picture

TGIF

Thanks for all the hard work you guys and gals do. Just know that thousands if not tens of thousands of people read your every word.

TGFTF

Perfection is just a fancy word for hard work!


 

tread_w_care's picture

@Debtless

Are you referring to http://www.philstockworld.com/?

I'd like to hear testimonials as well.  Perhaps worthy of a Forum post.  

Rui's picture

EE covered big time in latest COT

38K gold contracts and 9K silver contracts. 

http://news.goldseek.com/COT/1313177539.php

ewc58's picture

Nice calls gents

GDH and Two Gun. Lotsa jealous cowpokes out here but good on ya yes

Turd:  I'd like you to ask Clif:

1. if he thinks the "competition" is enjoying success with their own Predictive Linguistics methodology

2. how are they using (or how do they intend to use) their new capability in the financial and PM markets?

3. if its use will impede or hasten the ongoing disintegration of the fiat money system and the eventual move to a hard-asset based system and currency?

If it's going to be a webcast, please provide a link so we can hear it live. Thanks, looking forward to the conversation!

RockinJohnnyT's picture

Already Have

GoldenGirl's picture

Miners

Fellow Turdites, what is your opinion on the miners?  Apart from physical, and barring participation in GLD and SLV, how do you invest to profit in the rise of precious metals?  CEF?  Sprott Physicals?   What is going wrong with the miners and why the obvious and painful divergence starting around April?  What do you think the future holds for them?  My sob story is that I have a lot of people depending on me, for one reason or another.  We are all out of work and some are disabled physically and mentally.  I, sadly, am the "brains" in the family and ready to fold under the pressure.    I have been a gold and silver follower since 2001.  The profits from my mining shares were keeping us all until recently.  What do you all think?  Losing battle?  There is hope?  Get out?  Stay in? 

debtless's picture

Phil's Gang

Not Phil's Stock World, 

http://www.philsgang.com/

ewc58's picture

Bob Chapman live at 4:05 pm edt

Slick's picture

Clif High

Ask him if the language suggests anything big happening in or around the end of october, the last week-ish of October. 

LaMachinna's picture

According to CNBS....Gold is..

UP 5.5% this week.  schaweeet  Very thankfulyes

Buzz Wired's picture

A Question for Clif High

Based on the very latest data, could you provide an updated timeline for the projected death of the dollar?

Also Turd, please let us know where we can listen to the discussion. Thanks!

duckwomanloulou's picture

Who'd a thunk it?

(Reposted from last comments section as didn't realise Turd had updated us on a new thread)

This is perhaps the best article I have read so far to do with this weeks UK riots and looting & I'm shocked to say it's written by Russell Brand!

http://www.guardian.co.uk/uk/2011/aug/11/london-riots-davidcameron

He hits the nail squarely on the head

Lou

PS The header picture on this piece makes me really proud to be British (not)!

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