Like Clockwork

Regular visitors to TurdWorld have noticed by now that The Fed has a way of "managing" SPIN and MOPE. For what seems like the umpteenth time, at a critical moment for the dollar, The Fed once again stepped in to create headlines designed to help it catch a bid. Here's a link to their latest:

http://online.wsj.com/article/SB10001424053111904070604576514431203667092.html?mod=WSJ_hp_LEFTTopStories

This, of course, has had the desired effect of turning around The Pig, all at the expense of global equities investors. Since I'm not a global equity investor, all I can do is laugh at the futility of the obtuse algo-gunners, all trying to race each other to the bottom. Scenarios such as this are exactly why you own gold. This scenario is also why gold is not now in a bubble nor is it even close.

1) Fed creates dollar strength. World reacts. Global panic causes a rush to gold. Woohoo!

2) Eventually Fed can no longer prop up pig currency. Pig collapse causes a rush to gold. Woohoo!

Heads we win, tails we win. Just don't let the fool, top-calling douchebags ever scare you out.

The key today will be the highs of last Wednesday evening, the 10th. You probably recall that day. Gold was screaming higher through the pit session and on the Globex. It was rolling another $15 higher in the early evening session when the C/C/C decided to put the breaks on. Gold corrected almost 5% and now is making new highs. Closing today above the 8/10 highs of $1817.60 would significantly bullish.

paper_8-18amgold4.jpgpaper_8-18amgold.jpg

Silver continues to struggle with the whole "commodity vs currency" thing. Fortunately for us, "currency" is slowly winning the battle. Evidence of this is found in the simple fact that crude and copper are way down today yet silver is actually up about 20c and above the critical 40.40 level. Patience must still be had with silver. Do not expect parabolic-type moves in the immediate future. Do expect, however, a continuation of this uptrend and a move to 42 and then to 44. Like gold, silver's close is very important today. Gold's first, post-S&P peak was on 8/10 but silver's was on the first evening, the 7th, at 40.40. Closing above that level today would be extremely important and significantly bullish. Watch closely and expect some dirty EE tricks as we go through the morning. Here's an updated, 2-hour chart showing the attempted breakout but, also, here's a reprint of a chart from last week showing our short term goal.

paper_8-18amsilv.jpgpaper_8-10pmsilvd_0.jpg

OK. I have lasts of 1826 and 40.64. It's going to be a very interesting day. Have fun! TF

228 Comments

SilverTree's picture

Movin up slowly

bern's picture

This morning we dance the

This morning we dance the Chavez cha cha cha.

koykoi's picture

Thanks Man

Thanks again for the great insight

Tesla's picture

Thanks Turd - Good Morning Man!

C'mom Silver!!!

breaking-the-chains.jpg

¤'s picture

G'Mrng TF

The market and the global fiscal picture is more like "A Clockwork Orange"

silvergoldsilver's picture

Sprott

selling some gold profits and putting it into silver

wheresthebeef's picture

Red headed stepchild

So when will the shiny take off? I like a slow and steady rise but it sure seems to be a laggard.

¤'s picture

SVM

I think is mostly a Chinese backed company or it derives most of it's silver from China. Something like that. 

Maybe the NY boyz won't give the Chinese a break. Who know's for sure?

Turd Ferguson's picture

selling gold

MODERATOR

I am still long all of my Oct and Dec calls. 

I will only consider selling or spreading if gold reverses and closes on the Comex below 1817.

Maryann's picture

So nice to see

A little green on my miners screen.  Lovely to look at!

Ginger, I love that computer emoticon.  I can so relate!

Eric O, my 11 hams arrived yesterday, thanks again for that recommendation!  My husband took one look and said, "Let's eat one and if we like it, order more!"  However, now that Turdville wiped out Walgreens, I'm afraid we won't see that low price again. sad

Thank you Turd and good morning!

Turd Ferguson's picture

MIners

MODERATOR

I feel we are getting very near the point where miners, as a group, are ready to break out.

When I have some time...maybe over the weekend...I'll get you all a comprehensive update on all of our favorites.

¤'s picture

10:45

Here comes the bounce or pause like clockwork.

¤'s picture

Thanks T

I hope we're all watching the market the day the miners just  blow up in price.

Shill's picture

Just an observation

How obvious propagandist  is our Government to come out with Syrian news right as the market was free falling at the open. Its almost as if they have insider info that the water shed was or is coming.  Coincidence?I should say not.

As someone who eats, drinks, and lives for the ticker the correlation is to coincidental for me too swallow..  Such a disgrace and a failure we have become when we have to have distraction such as the Syrian news come out during a water shed event.

The saddest part is, All  the sheeple will see in tonights Main Stream circus is the Syrian news and nothing more.

Sad state of affairs we have become America, sad indeed.

¤'s picture

It's all choreographed

I agree with you Shill. You also have to consider that Joe Biden just went to China to say he is interested in global stability.

Buzz words for ..."it's going to get real, and soon"... maybe?

Tom L's picture

MFN and KGC Calls

I bought Sept 18 calls in both yesterday at stock prices that were higher than they are today and both are up strong on the increased volatility.

Got smart and bought during a low volume/volatility day.. now the premiums are up and the option writers want to get paid for it.  If the XAU and HUI start moving these babies are going to make me my mortagage payment this week.  Gods know I need that.

Ta,

ScottJ's picture

Getting Closer...

Prepare your minds as well as your financial/food/water situation. The mind is what this campaign is really on.  Keep expanding your horizon.

¤'s picture

Philly numbers....

Ka-boom! Wayyyy lower then expected.

ZH has the story, of course. I'm having trouble getting ZH this a.m.   Very spotty.

needadeel's picture

Shiny Silver is Healthy

I feel like the shiny stuff is doing just fine the way it is. In fact, it seems like gold has become a little more volatile since may and silver has stabilized quite a bit (in the face of schizoid moves within equities, commodities and the dollar). I'll take a 1% gain in one day anytime (you wont even get that in a year in a money market). Not that I wouldn't like to see some big jumps, but I love a nice stable bull.

 
bruinjoe93's picture

decoupling

Finally, the gold/silver/miners have de-coupled from the equities market.  As usual it is gold that breaks the first shackles of leverage.  Good bye JPM, HSBC, Comex, and LBMA.  The Asians including the Middle East need to bring their gold home before its all gone.

ewc58's picture

Via Ed Steer's column today

speconomist's picture

Making some nice fiat today,

Making some nice fiat today, how's it going for the rest?

Gold and the swissy are my friends today.

Dr G's picture

...and here is the London

...and here is the London close beat-down that we all know and love. I expect silver to go close to red shortly, losing most of the gains it has made this morning. An uphill battle from there, only to be beat down on the Globex. That's my story and I'm sticking to it. I have 40.47, down over 50 cents from the highs.

ragandbone's picture

FAO of TURD regarding Miners

Sure would appreciate that TF...

If it wasn't for this site I would have likely smashed my computer up by now ( and obviously regretted it 30 seconds later )... its good to know others are sharing the pain... what a wonderful community we have.

Haven't had a chance to say it yet... well done for this website, you've achieved something quite remarkable here... so glad to have stumbled on the watchtower many moons ago...

cheers

Tom L's picture

@shill

I came to the conclusion a long time ago that NOTHING that comes from Mordor-on-the-Potomac is coincidental.  Everything is timed and choreographed.  Everything.  I maintain that this news was designed to spook the markets to allow them to scoop up commodities at stink bid prices, ie. copper/oil before the war(s) are fought and the bombs start falling. 

Push the price of oil down one more time before the whole thing blows up.  One more dip into the cookie jar.

Ta,

Shill's picture

It's all

It's all choreographed

Certainty is DPH, sorry folks and trust me I loath politics as much as the next guy, but Politics is money and money is this thing we do, its all related.

What I see is a lot of sloppiness going on and as DPH noted the drumbeats are getting louder and closer.

That being said Go miners and related, and thank you for the update Turd.

padme's picture

gold ans silver

gold 1550, silver 40

gold 1600, silver 40

gold 1700, silver 40

gold 1800, silver 40

gold 1900, silver 40???

Since silver is relatively cheap, I put more on silver. But it sure is frustrating!

RightLeftWrong's picture

I like the green on my miners screen too

Some of my current mining favs:

BRD, UXG, AUQ, SNDFX

I also like AEM here too.

Silvers can't beat SLW  - but also EKX, SVM and GPL

RL Wrong

 
Monedas's picture

Barack and Hillary in fine form !

When your little Utopian Keynesian Socialist Bubble World is imploding and your approval rating is 39%.........start a war with Syria ! Isn't that what the Dems always accuse the Pubs of doing ? Hee hee hee ! It's so rich ! Monedas 2011 Hoarders have more fun......every day reveals new facets to that Monedas jewel ! devil

Save_America1st's picture

@Strongsidejedi

from last thread, how to stop out of control debt:

*********************************************

I don't know man...I don't see it happening at all, and that's why we're all here helping each other out, right?  It's outta control and I don't think this train can be stopped.  Yes, there are those who know the right things we can do like stop spending, stop printing, etc. etc., but not a single politard in office has the guts to do it.  Unless...

We clone Ron Paul several hundred times and put the Ron Paul clone army in charge of D.C.   lol  Maybe then we'd have a chance. 

TPTB aren't just running the Titanic into the ice-berg...they're backing the ship up and slamming it into the ice-berg over and over and over again.  They're going to force us over the cliff full speed ahead, so as we on here all know, just prepare, prepare, prepare.  It's never too late to start prepping:

1. food, water, and cooking supplies.  I have a hand-held pump and a Berkey water filtration system so that water can be easily filtered pure at anytime.  MRE's.  Batteries, radio (crank kind), lights, candles, etc.  You name it, it should be on your list.

2. other supplies (first aid, camping, fishing, hunting, survival books, gear of all kinds that will help you)

3. guns, ammo, knives, any other self-defense apparatus like pepper spray, tazor, etc.

4. silver, gold, cash on-hand (you must have cash because the banks will close...don't leave more cash in your bank account than you need to for certain bills: mortgage, electricity, etc.)  Other than that keep cash on-hand at all times and for gosh sakes don't leave your PM's in a bank or deposit box...it will disappear for sure!

5. Have a bug-out plan and be ready if you need to get the hell outta dodge when the SHTF.  In the event of the SHTF scenario you only have a few days head start before it will get very ugly...social unrest, riots, looting, etc.  Cities, urban areas will become death traps.  Any place within a days walk of an urban area will eventually come under civil unrest as people migrate out from the inner zone. 

Make sure you always have a full tank of gas and vehicle supplies so you're ready to go.  Know at least 3 routes of exit and where you would want to go.  Don't just drive from one rioting city to the next...it won't be any better there either.  Have a hopefully safe destination planned out. 

Remember this...when they declare martial law it won't be to protect you from the rioters...you will also be treated as the bad guy.  You will be detained and all your PM's, guns, ammo, valuables, etc.  will either be confiscated by the authorities or you will be left defenseless so that others will eventually take what you have left.  You don't want to be caught in an urban or close outlaying area if that happens, because you will be screwed. 

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