Recalling Last Tuesday

98
Tue, Jul 26, 2011 - 10:08am

Just a couple of things while we wait for The Wicked Witch...

1) Once again, The Cartel raided the metals in the U.S. overnight. This time, they extracted about $6 in the 5 minutes beginning around 3:25 EDT. This has been their recent pattern. Over the past two weeks, raids have been a frequent occurrence between 3:00am and 5:00am EDT. I do not have the charting capability to print a 15-minute or even an hourly chart that goes back the past 10 days. If anyone does, please post it in the comments below. I'm sure it would be telling.

2) The POSX looks the part today.

The fact that it is close to breaking down through the bottom of its range yet the PMs are NOT rallying leads us to point #3...

3) Be on guard for another Tuesday Globex raid by The Forces of Evil. Recall last Tuesday...They showed their intentions by raiding the PMs in the overnight. They were unable to generate selling traction during the pit session as all commodities were sharply higher. They waited until the pit close (and after the time cutoff for the CoT survey) to raid.

What have we seen today? An early morning raid and a pit gold price that's tough to "assault" because of the extraordinarily weak dollar. Same conditions as last Tuesday.

And with the atmosphere ripe for a headline or even a rumor or some type of "compromise" in D.C., you've got all of the ingredients for an EE beatdown. Oh, and don't forget that today is August gold options expiry.

Be careful out there. A full-scale attack could come at any time. TF

About the Author

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turd [at] tfmetalsreport [dot] com ()

  98 Comments

Blue Sky
Jul 26, 2011 - 10:11am

Get out those full metal jackets!

Good luck all today. Play safe!

skulltoye
Jul 26, 2011 - 10:13am
MIDDIE
Jul 26, 2011 - 10:14am

Nice Update

Thanks for a solid update. I too have noticed the late night raids. Sure like to get this debt ceiling debacle behind us so we're only dealing with one set of bad guys. Have a good one.

bigmark99
Jul 26, 2011 - 10:15am

just keep buying, boys and

just keep buying, boys and girls.

LaMachinna
Jul 26, 2011 - 10:16am

Gold to Go?!

Now isn't that telling.....

Carry On and Hunker Down Comrades

Fulgurite
Jul 26, 2011 - 10:18am

Cash in hand & ready to buy

I'm waiting for the raid so I can buy some cheap physical gold and silver tomorrow morning here in Europe!

Bring it on!

bhu
Jul 26, 2011 - 10:18am

Options expiration hour ?

Hello,

Thanks again Turd for all the posts.

A newby question: what's the exact hour of Comex option expiration ? today's close certainly, someone can confirm ?

Same question for SLV/GLD options, was it close of the 22nd ?

Tx

Larry L
Jul 26, 2011 - 10:21am

Re: Happy Tuesday Begins!

Those guys in the white coveralls with a black halo don't fool me!

Shill
Jul 26, 2011 - 10:24am

Some days

You just have to walk away from it all.

This is one of those days.

SilverTree
Jul 26, 2011 - 10:25am

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