Fighting The Criminals

Tue, Jul 19, 2011 - 2:45pm

Let's start with an oldie but a goody. Just a reminder that we've been here several times before:

I hope you were able to check the very important update I posted this morning to the previous blog. If you missed it, here is one of the main points:

"The Evil Empire is trying their hardest to raid today but with copper, crude, stocks and grains all up, they're just not having any success at all. IF everything else can hold onto their gains for another hour or so, the EE will be forced to retreat to another day and the PMS will roll back up toward their overnight highs. Don't get ahead of yourself, however. The Forces of Darkness have accidentally "tipped their hand" this morning with the ineffective raids. This only means they are certain to try again as soon when conditions seem more favorable on their end."

I must admit that I figured they would wait until tomorrow but, of course, conditions are most favorable on The Globex when you have the entire battlefield to yourself. Doesn't matter really. Please understand that this was all coordinated. Obama talks right at 1:30 and the PMs are raided at 1:32, right after the pit closes in New York. This is not coincidence! Trade the PMs long enough and you will learn there are no coincidences. Never forget that these markets are manipulated for a reason.

As stated above, the EE tipped their hand this morning. They didn't anticipate the rallies in copper and crude which made their raids in the early morning futile. So, they just wait around until everyone goes home and they use O'bottom as cover to unload a bunch of metals contracts on the thinly-traded Globex. Same bullshit manipulation, different day.

They've now successfully painted an "Outside Reversal Day" on the daily 24-hour charts, too. This is not as important and significant as having one on the Comex chart but it is certainly a troubling development, nonetheless. From here, we'll need to look for a support level from which a couple of FUBMs can be built.

Silver is back under 39.50 and I have a last of 39.29. It needs to halt the slide here and get back above 39.45...pronto. IF it can, it should be able to rebuild and move back over 40 by later this week. IF not and Blythe is not finished pounding away, it could tumble all the way to 38.25 or so before catching a strong bid.

Gold is much the same. It's taken a beating but it should find stronger and stronger bids the closer it gets to 1580. Only a move down through 1578 and a close below there should give anyone pause to reconsider their longs.

I just want to close by saying "FU to Blythe. FU to JPM. FU to The Bernank. FU to O'bottom. FU to all TPTB". We know your game. You don't frighten us anymore. Your desperation only shows your weakness. You are losing. We are winning. It's only a matter of time.


About the Author

turd [at] tfmetalsreport [dot] com ()


Jul 19, 2011 - 3:43pm

@Paladex - running out of safety assets means selling them

It would be nice to have an admission of the potential shortfall in silver, or acknowledgement that there is not nearly enough gold even to hold all investments if people begin to pile in, I think here it was merely stated that as uncertainty decreased, people went from safety assets (gold & silver) to 'risk assets' such as stocks.

Jul 19, 2011 - 3:47pm


Try and treat it like the game it is. Remember.....unless you are in options TIME IS ON YOUR SIDE. BTFDs and let your positions do the work for you look at support on $HUI to hold.......this move is gonna blow your mind on the miners this year

Jul 19, 2011 - 3:48pm

You mean out of Gold & Silver

You mean out of Gold & Silver and into Bonds no? I think the rise for silver and gold the last couple of weeks was due to uncertainty of the debt ceiling and whether the US will default. The closer we get to a resolution the harder the correction we will have for G & S.

Jul 19, 2011 - 3:48pm
Jul 19, 2011 - 3:48pm

Gold during the entire eleven day span didn' RISE more than 1 %

Ranting Andy: Videotape of Government Algorithms Suppressing SLV

But not gold, which during the entire eleven day span did not have even a SINGLE RISE of more than 1%, the CAPPED level that statistics show has always been the Cartel’s hallmark. Put it this way, over the past decade, a daily rise of even 1.1% is statistically a THREE STANDARD DEVIATION EVENT, i.e. it occurs on less than 2% of ALL TRADING DAYS. And this, in the asset that has outperformed every asset for the past 11 years (12 including this year).

Since GLD and SLV commenced trading in 2004 and 2006, respectively, I have watched these fraudulent vehicles suppressed nearly every second of every day.

Since D-Day, I have watched even MORE vicious, MORE predatory computer ALGORITHMS capping these two stocks, plus many of the large-cap miners, intent only on keeping investors out of them and stealing their money.

And one more thing, while I’m at it – if I see one more commentary that gold “needs to correct” because it had a big run, I’m going to SCREAM. Gold just was TRASHED BY THE CARTEL (NOT the market) from $1,558 to $1,475 in barely a week’s time following the Fed announcement (COMPLETELY AS EXPECTED)on June 22nd that they’d continue to print money ad infinitum.

Jul 19, 2011 - 3:55pm

Ho Humm

Just another day, no biggie.

It is what it is until it isn't, then we win.

Jul 19, 2011 - 3:58pm

Look at the Big Picture

We should try to remeber what this is all about. This is not an investment, it is about financial survival. Every time the price plunges it gives a few more people a chance to get on board. By rights silver should have passed these levels 8 years ago.

I doubt many of the traders holding silver today would have even been aware of silver, much less bought any. These retraces make no difference to people who already own silver. Selling out will be at ten times this price or higher.

99% of the population don't have any silver. Silver is like a lifeboat on the Titanic. There is room for more people, so why is there such a hurry to cast off? If silver ends up at $500 or $1000 an ounce (equivalent in whatever replaces the dollar) what difference does a few dollars here or there make now.

This isn't the time to sell and everyone knows it. The more friends and relatives you can recruit, the better. It is important to remember that when silver goes on sale.



For those bent on higher prices, a new silver contract out of Hong Kong begins trading in two days. Millions of Chinese will be able to buy them through their local bank. Even a modest uptake will remove tonnes of silver from circulation. These are new players, and they have more experience of inflation than we do.

I Am The Unknown Comic
Jul 19, 2011 - 4:00pm

@DefiniteMaybe - copied from previous thread

@DefiniteMaybe: I did the same. I added to my 38 calls and managed to sell some 38 puts. I wasn't thinking today would be the smackdown day. Thanks to Da Prez and his unscheduled announcement, EE was able to hit my position pretty hard. I am surely hoping for at least a dead cat bounce off of this correction. If not, then I'm buying fresh puts tomorrow. I still think another smackdown is coming on Friday, and hope to have sold most of my 38 calls by then. I sure hope I get the chance! I feel that I'm too light on my puts right now but I do not want to buy puts on such a down day. Good luck to you.

Turd, I sure could use a chart about now with indicators of current support levels for silver. (hint hint, wink wink)

My blood just boils on days like today. It has happened before and it will happen again. I did not expect it to happen on this Tuesday, however, as options expiration is NEXT Tuesday. I thought we would have a Happy Tuesday today. Man was I wrong. Ouch.

I Am The Unknown Comic
Jul 19, 2011 - 4:00pm

Encouraging - copied from previous thread

Well here's an encouraging sign....2 million shares of SLV just traded at 3:53 pm with a positive MACD and momentum. Portends upward movement, I hope. Otherwise, some Buyer Of Size just made a large bad trade.

Jul 19, 2011 - 4:02pm

Here's my Favorite Photo Of Blythe =]

Well... At least on days like today.

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