Mid-Day Update

94
159
Tue, Jun 28, 2011 - 1:11pm

With everyone waiting for the action in Greece tomorrow, today is pretty quiet (dull). As such, The Turd feels the need to make himself useful in other ways.

First, here are the only three charts I'm watching right now. Gold is stuck in a little range...unable to go higher but unwilling to go lower, too. When this range breaks, it will give you a feel for the near-term trend. The POSX is at a seemingly critical juncture, too. I've mentioned before that I think the pig will be rangebound all summer in an area roughly bounded by 76.50 on the top and 73.50 on the bottom. A drop over the next day or so would confirm that for me. And in silver...Even though there are still 26M+ open contracts three days before July first notice and, even though The Death Star only has enough registered silver to settle 5,600 of those contracts, no one seems to care.

Speaking of the silver Comex, if you'd like to follow the open interest "situation", this link is updated each afternoon with new info. You might want to keep an eye on it.

https://www.cmegroup.com/trading/metals/precious/silver_quotes_settlements_futures.html

Ok, then, here is a nice summer afternoon reading list. Some of these I found on my own, some of them were emailed to me. I, as your host, have deemed them all worthy of your time and attention. First up, on the subject of Europe, there's this:

https://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/6/27_Ben_Davies_-_Revolting_PIIGS.html

But never forget, The U.S. is in just as bad of shape, if not worse:

https://gonzalolira.blogspot.com/2011/06/dream-little-dream-how-long-would-it.html

And this doesn't involve any reading, just watching and listening.

https://video.cnbc.com/gallery/?video=3000030250

Two interesting bits on last week's oil dump. Again, this didn't happen at crude $150, it happened at crude $95. Why? Why now?

https://www.zerohedge.com/article/guest-post-iea-oil-dump-disaster-making

https://www.bullionbullscanada.com/index.php?option=com_content&view=article&id=21107:bankers-declare-war-on-commodities&catid=48:gold-commentary&Itemid=131

Regarding the PMs, taxation and future confiscation, take some time to ponder this:

https://www.zerohedge.com/article/guest-post-dont-forget-deadline-come-clean-thursday#comments

And lastly, just for fun, take a look at this. You know how much The Turd likes patterns and correlations so you can probably imagine just how interesting I found this "research" to be:

https://www.gold-eagle.com/editorials_08/weytjens062411.html

OK, that's all I have for now. Thanks again for being a part of the site and spreading the word! TF

About the Author

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turd [at] tfmetalsreport [dot] com ()

  94 Comments

beardeus
Jun 28, 2011 - 1:16pm

SMEAGLES?!

SMEAGLES?!

Vypuero
Jun 28, 2011 - 1:16pm

First?

First - nope, 2nd to Smeagles

SilverTree
Jun 28, 2011 - 1:17pm

~

SilverTree
Jun 28, 2011 - 1:18pm

How bout how that dude's

How bout how that dude's plastic shield is coated with red paint?

Its about to get real mucking fugly there.

Lonerangersilver
Jun 28, 2011 - 1:22pm
SilverTree TF
Jun 28, 2011 - 1:28pm

Baron Rothschild

"Buy when there's blood in the streets, even if the blood is your own."

beardeus
Jun 28, 2011 - 1:34pm

I am hoping it drops sub $30.

I am hoping it drops sub $30. That would be a delight.

Honestly, this whole thing sucks. Sure I have a significant core position for a 25 year old but lack other things such as a homestead. I have been making some bomb bread lately and have been able to knead bread rather well.

I figure, given my roots are in the boot, when everything collapses and I have to get a REAL job, haha, I will either become an artisan, with food, or a sculpture. A Michelangelo if you will minus the talent.

I plan on getting married at the end of the year and am stressing about a "once in a lifetime event" that I am not looking forward too unless silver explodes far beyond my expectations.

After a long day why is the Lord of the Rings so comforting to me?

Shill
Jun 28, 2011 - 1:38pm

IMF

  1. 1:30p

    BREAKING

    Lagarde wins 5-year term as head of IMF

mrgneiss
Jun 28, 2011 - 1:39pm

Best week of the whole year to buy silver, according to chart

I know many of you have seen it already, but for those that missed it, the 37 year seasonal chart of silver, up to 2007:

https://www.seasonalcharts.com/classics_silber.html

The gold intraday chart is fascinating as well:

https://www.seasonalcharts.com/intraday_metalle_gold.html

If you were trying to make gold look like a bad investment, at what time of the day would you slam it?

ginger
Jun 28, 2011 - 1:41pm

Relax. We have PLENTY of time..

. .......Or, said another way, do they really think we are this dumb.

This from FutureMoneyTrends.Com: (emphasis mine)

Central Banks Buying Gold

"According to the World Gold Council, central banks are on pace to make their largest annual purchases of bullion since the collapse of the Bretton Woods system in 1971. Central banks have been net buyers of gold in the last several years and have purchased about 151 tonnes of gold year to date.

UBS recently did a survey of central bank reserve managers in which more than half of the bankers said that the dollar would be replaced by a portfolio of currencies within the next 25 years. FutureMoneyTrends.com would have to assume the bankers have included lots of padding in that prediction, or it could have been the way UBS asked the question. In our opinion, the dollar making it another 25 months as the reserve currency should be in question, heck with all the spending needed in order to pretend there is a recovery, even 25 weeks isn't guaranteed."

I simply see this as just another attempt to keep the public in the dark where gold and silver are concerned ..meanwhile they are buying up all they can. They know what is ahead ..but they sure don't want you to know ..until they are ready for you to know which of course would be too late for you to prepare and certainly too late for you to buy S&G.

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