Hangin' Tough

Are you tough enough?

Frankly, I can't believe I just posted a New Kids On The Block video. A new low, if there ever was one. Oh well, if there are any 30-something female Turdites out there, I'm sure they appreciate it.

Just a quick post this morning as I have lots to do including a podcast recording for release later today.

The metals were, of course, pressured overnight. As noted in the "update" of the previous post, anytime you see blatant Globex selling immediately after the Comex closes, you can be almost guaranteed of an overnight and next-day raid. And so it is.

Regardless, the damage is minimal. So far, the 1730-1735 area has held like a champ in gold and has laid the groundwork for a double bottom. Silver would show a double bottom, too, if it weren't for the obvious attempt to have a go at the 50-day moving average near $32.50. That level will be the key to watch today as you know with 100% certainty that The Forces of Darkness would give anything to close the week below there. If they're successful, we'll see more weakness early next week and a likely drop toward $31.00-31.50 before the final low of this manufactured "correction" is in. IF silver can instead rebound today, and I have a last of $32.45, then we'll most likely have our bottom and we'll see a breakout next week.

So, watch those levels closely today. Can gold hold and close above $1730-35? Can silver hold and close above $32.50. Today's battle is ON. Are you tough enough? wink

TF

355 Comments

rl999's picture

Shenanigans

Here we go!

Both the tickers I use (pennystockjournal, and netdania) show an excessive amount of gaps both up and down.

(first first)

Sisyphus's picture

Back to the races?

Today. Or wait 2 weeks?

Gor blimey, guv'nor! Second?!  My first time in the top twenty!

theBuckWheat's picture

Third!

see subject.

JackPutter's picture

A Time to Buy

Just got some antelopes, and cougars from the Canadian silver wildlife series myself.

Keep stacking

rl999's picture

32.5 as resistance now?

Bout to find out if it turns into resistance

Turd Ferguson's picture

Keep stacking the canned

MODERATOR
SilverSurfers's picture

Hangin Tuff!!!

Dude, we called 32.50 back on 9/26. Back to buy zone for turdville!!!!!!

Dude, I went cold-turkey 1 week without a cig, (after 45 years of smoking)

Hat TIP my tail, right here, right now!!!!

Monedas's picture

Greed is good ?

Greed for the "earned" is good !    Greed for the "unearned" is bad !     Earn it, buy it, hoard it .... and stop using the PC term "stacking" .... fear not the truth !        Monedas       1929       Comedy Jihad Hoarding Is Good For You And All Living Things World Tour    devil

treefrog's picture

silversurfers,

at a week, you should be past the worst of it.  hang in there!

rl999's picture

Metals behaving similar

If anyone else is watching a ticker, gold and silver must have the same hft algo programming today, check them out with an overlay - you could trade Ag off Au or vice versa.

¤'s picture

Hangin' Tough - Silent Rage

Chuck Norris....

JimmyTheHand's picture

@SilverSurfers and Mr. Turd

Congrats on quiting smoking!  I hat tipped you one!

Turd - I saw some talk last night about large amounts of physical leaving the comex... I believe that actually happened already LAST friday and think that is what Jim was referencing to.  I could be wrong but saw this last week over at SilverDoctors site: http://www.silverdoctors.com/massive-comex-silver-withdrawal-on-friday/

Biochar's picture

I prefer the girl groups...

nothing better than K-pop: here's GIRLS' GENERATION on Letterman

another great Korean export is 2NE1... suggested tracks:

Hate You, I Love You, Can't Nobody, I Am The Best

(other good tracks by GG: Genie, Twinkle, Run Devil Run)

all on iTunes of course

Rotag's picture

Tough Enough - Fabulous T Birds

SilverSurfers's picture

Turd is hanging Tuff

with the right stuff, Silver, Guns, Food .....

Egon von Greyerz KWN is saying that the swiss will go to legal tender gold coin.

I guess that euro peg aint cuttin it politically. THIS IS HUGE

because totalitarianism collapses when cap gains are removed from bullion.

very very exciting times to watch the metals and the political fall out.

Bollocks's picture

This HAS to be a wind-up ...

Petrol 'produced from air and water'

A British firm based on Teeside says it's designed revolutionary new technology that can produce petrol using air and water.

Air Fuel Synthesis in Stockton-on-Tees has produced five litres of petrol since August, but hopes to be in production by 2015 making synthetic fuel targeted at the motor sports sector.

The company believes the technique could help solve energy supply problems and curb global warming.

Video here: http://www.bbc.co.uk/news/business-20003704

Did someone say Methanol? That's not air and water.

Dr G's picture

Yes, it appears the magic

Yes, it appears the magic line will act as resistance. If one has his heart set on simply higher prices, then this continuous drip, drip, drip action is enough to make him vomit. Weakness in Asia, selling in London...same story every day.

¤'s picture

Are you tough enough?

article-1133528-03431D82000005DC-551_634

Tough Mudder events are hardcore 10-12 mile obstacle courses designed by British Special Forces to test your all around strength, stamina, mental grit, and camaraderie.

With the most innovative courses, half a million inspiring participants, and more than $3 million raised for the Wounded Warrior Project, Tough Mudder is the premier adventure challenge series in the world.

treefrog's picture

bollocks,

that bimbette on the clip obviously is neither a chemist nor an industrial engineer.  i suspect she was skipping over a lot of detail.   in her explanation of the process, she said "this is methanol which the company has manufactured..."  it may well be that it was manufactured from air and water.  methanol contains carbon and hydrogen. lots of hydrogen in water.  carbon is found in co2, which is found in air.    not saying that's so, just saying that clip was "detail challenged."

SilverTree's picture

So Far So Good On The Road To

Dracula's picture

Even at $1

If it goes there, my single coin is there, shiny as always :) So... Who cares?

clueless one's picture

possibly a test...

of $31 - $31.50...as per TF.

oh, that's just nonsense...absolutely impossible.  don't bring that negativity around here and try to mislead people...etc...

(you know who you are...)

lmao...

yes

stack'em high boyz and girls...

peace!  cool

Zoltan's picture

Max Pain Options Expiry

Using SLV as a proxy for today's expiration.

http://www.optionpain.com/OptionPain/Option-Pain.php

http://shortsqueeze.com/?symbol=slv&submit=Short+Quote%99

Just remember that SLV trades at a discount to the silver spot price (cause it's a fraudulent ponzi scheme?).  It would appear that we will see them expire in the max pain range. 

"Who'd a thunk it?"

Z

bujjai's picture

What about this? Troubling...

http://thefundamentalview.blogspot.ca/2012/10/on-further-inspection-troubling-pattern.html#comment-form

The H&S is there....so far everyone has been wrong about this rally.....I understand a lawsuit is out there.....What troubles me to absolutely noooooo end is when bill murphy and all the other silver prognosticators come out and play our cards.  Why "bullseye" yourself and say it's over for JPM....when THEY ARE IN CONTROL.....they have UNPRECEDENTED control ..... this game of chess must be played with a keen sense of strategy.  ....Ridiculous....

bujjai's picture

This troubles me to no

This troubles me too.....it's a plant....as it relates to the Wynter Benton story.  Again, putting a massive bullseye on....you don't see the smart cartels doing this.  THis has precipitous drop written all over it.....the cartel is desperate and trying to get this thing down.  is 16 possible....??  wow....I dunno....

old tradesman's picture

live stream today

vonburpenstein's picture

whoa nelly!

If you don't  'you know what' now, then you'll never  'you know what'

Revelation's picture

The Story of Bre-X

Istack's picture

New Kids on the Block!?

i once posted this vile song once too.  it took me two weeks to recover.  i hope you bounce back quickly (as well as the metals).

Xeno's picture

Only The Strong Survive

For Turd and the whole hangin' tough gang here in Turdville.

And just because a storm is a commin', it's Friday, and my weekend already started.

 

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