The Doldrum Whipsaw

Fri, Jul 1, 2011 - 9:12am

Man-oh-man, I sure hope I was able to save you some money with this post from Wednesday:

Here is the main section you need to keep in mind:

"Yes, we had a nice day, particularly in silver. Yes, it's tempting to get greedy and jump back on the bus. No, please don't do it, at least not yet. The summer doldrums (frankly, any commodity in a consolidation phase) will crush and bankrupt you in less time than it takes Bart Chilton to fix his hair. As soon as you get excited and greedy, they'll reverse and kill you time and again until the phase is over. Trust me, you won't miss out on much and you'll save yourself a lot of money if you patiently wait and avoid the temptation brought upon by greed."

With that in mind, what a brutal butt-kicking we are taking today in the PMs. Hard to pin down a reason. The grains got killed after the crop report yesterday. This has made the CRB look terrible which, in turn, is driving down all commodities. The Forces of Darkness pile on the mess and you get gold down $16 on no news. Silver is off a buck, too. Sucks.

Again, if you feel compelled to trade over the summer, only buy when the metals are near the bottom of their ranges and, when you buy, buy time and be patient. The PMs will soon return to their bull markets, of this you can be certain. However, during the doldrums, they'll baffle and frustrate you to no end. But don't take my word for it. WOPR, himself, has given you the best instruction (wait for the end):

WarGames - Joshua Simulations

(And what ever happened to Ally Sheedy anyway. Kind of a homely teenager in this movie. Then she's smokin hot in films like "St Elmos Fire". Now she's all strungout and post-menopausal. This getting old stuff sure sucks.)

Hang in there today and try to keep your powder dry. TF

About the Author

turd [at] tfmetalsreport [dot] com ()


Jul 1, 2011 - 9:16am

Thanks Turd... I spend so

Thanks Turd... I spend so much time on the forums, and not enough reading this blog!

Keep up the good work.

ha! first!

Jul 1, 2011 - 9:16am

Nothing better than physical.

Nothing better than physical. Always a good reminder.

Jul 1, 2011 - 9:28am


"grains got killed", well that depends on how you see it actually. I think "grains just went on huge sale", what is not to like about that? And cheaper silver and gold means some more bullion purchases. And Silver easily goes below 30 or it easily bounces, I do not think at all it can be called accurately. All that is important is responding to the price by buying increments of weakness and selling increments of strength. Maybe the banksters need to seriously crush gold another 100 points down, this would eliminate and deflate the 'buy the end of summer crowd' that are waiting just to punch their ticket North. This trade must be challenged and gamed in one way or another. Banksters do not want people on the metals blogs riding the bus North with them. They want all the gold. Nothing surprises. But if one keeps their head, buys into weakness in increments and does not chase price but instead sells strength then one can survive and prosper imo.

everybody be well.

Jul 1, 2011 - 9:29am
Jul 1, 2011 - 9:30am


Thanks Turd!


+1. What are the chances with two people from the small town of tally on a pm blog.?

Jul 1, 2011 - 9:31am

Regarding Grains

U.S. Exporters Sell 1.14 Million Tons of Corn to Unknown Buyers
2011-07-01 13:00:02.398 GMT

By Daniel Enoch
July 1 (Bloomberg) -- U.S. exporters sold 1.14 million
metric tons of corn to unknown destinations, the U.S. Department
of Agriculture said today in an e-mailed message. The USDA said
360,000 tons are for delivery in the 2010-2011 marketing year,
which ends Aug. 31. The rest, 780,000 tons, is to be delivered
in the 2011-2012 marketing year, the USDA said.

Jul 1, 2011 - 9:32am

By October, you'll be kicking

By October, you'll be kicking yourself for not buying physical at these prices.

Eric Original
Jul 1, 2011 - 9:35am

I just put in a bid

I just put in a bid on some ebay gold. I'll get some ebay bucks next week to help pay for it. :D

Jul 1, 2011 - 9:35am

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Jul 1, 2011 - 9:36am

Guaranteed To Make You Smile!

Need a laugh or smile today?

Check out the "Bonanza Bunny" Thread in the Gold Forum.

Guaranteed to make you smile :-)

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