Same Old, Same Old

168
Thu, Jul 28, 2011 - 10:00am

First of all, I want to thank again all who participated in yesterday's "Turdathon". The threshold I hoped to reach has been met and work will begin as soon as possible on the site improvements we discussed.

The criminals are after silver hard today. As that Dave guy pointed out back on Tuesday, the EE likes to raid silver on the two days post gold option expiry. Here's a re-print:

"One quick technical point about the gold market. As of this morning there were about 18,900 open calls at 1600 that expire today on Comex gold futures. Historically, the big bank manipulators write those calls and then drive the market below the price point at which they've written calls in order to keep the premiums. It's not huge money but it's been easy money for them over the last 10 years. Today obviously those calls expired in the money by about $17, which means the holders of those calls will likely exercise their option and take delivery of futures contract. A few months ago this same situation occurred and the manipulators hammered the silver market the day after expiration, likely creating a large number of sellers out of the traders who had taken delivery of their profit-position silver futures. It was a very transparent manipulative move, but effective nonetheless. IF we don't see the manipulators successfully "run the stops" tomorrow or Wed, my bet is that we will likely see $1650 gold very quickly, as this will be a very bullish signal that the gold cartel is losing its ability to manipulate the market at will."

Add to this the fact that silver open interest is finally rising, particularly in the front-month September contract, and you've got all you need to send The Monkeys into action. As I type, gold is down $1, crude is up 0.25 and copper is up 160 points, yet silver is down 70 cents. Hmmmm.

Gold continues quite strong, however. It's quite clear now that The Cartel has drawn a capping line at 1625. Like all lines in the past nine years, this line will eventually fall. All it does it give us a level to root for. As long as gold stays above 1610, it's only a matter of time. IF 1610 fails (like on news of a debt "deal"), look for support near 1600 and again near 1585.

Sorry for the brief update but time is short this morning. More after the close or as conditions warrant. TF

About the Author

Founder
turd [at] tfmetalsreport [dot] com ()

  168 Comments

Much4Him
Jul 28, 2011 - 10:01am

Cant wait for Sept

Cause this sucks.

uptofreedom
Jul 28, 2011 - 10:02am

Thanks for clearing that

Thanks for clearing that up... :P

Dr G
Jul 28, 2011 - 10:02am

What's that Lassie? A

What's that Lassie? A waterfall happening right now you say? Shocking!

Same old, same old indeed. Guess I'm off to the coin shop!

Mudsharkbytes
Jul 28, 2011 - 10:03am

Fourth?

Fifth? Sixth?

Looks like a raid has started.

No surprise there.

Sterling
Jul 28, 2011 - 10:04am

Short, concise, and to the

Short, concise, and to the point.

tmosley
Jul 28, 2011 - 10:06am

lol

n/t

stoneeh
Jul 28, 2011 - 10:08am

Every month now they're doing

Every month now they're doing it more obviously, more in the open. I do not know how with all the lawsuits pending against them and so many more people every month wising up to their game, they still insist on doing it. It must be an act of utter desperation.. or complete obliviousness to the consequences (of course, the corrupt courts won't punish them, but who says that WE won't?).

- Markus

bern
Jul 28, 2011 - 10:08am

Flash sale for physical.  Get

Flash sale for physical. Get it while you can find it.

Bro D
Jul 28, 2011 - 10:09am

from: http://finance.yahoo.co

from:

https://finance.yahoo.com/news/The-Best-Time-to-Buy-smallcapinvestor-287...

And they also have interesting charts of the commercials' bullishness and the speculators' bearishness.

Vypuero
Jul 28, 2011 - 10:13am

BOOM goes the Dynamite!

Boom Goes the Dynamite
Key Economic Events Week of 10/21

10/22 10:00 ET Existing home sales
10/24 8:30 ET Durable Goods
10/24 9:45 ET Markit flash PMIs
10/24 10:00 ET New home sales
10/25 10:00 ET Consumer Sentiment

Subscribe or login to read all comments.

Contribute

Donate Shop

Get Your Subscriber Benefits

Private iTunes feed for all TF Metals Report podcasts, and access to Vault member forum discussions!

Key Economic Events Week of 10/21

10/22 10:00 ET Existing home sales
10/24 8:30 ET Durable Goods
10/24 9:45 ET Markit flash PMIs
10/24 10:00 ET New home sales
10/25 10:00 ET Consumer Sentiment

Key Economic Events Week of 10/14

10/15 8:30 ET Empire State Fed MI
10/16 8:30 ET Retail Sales
10/16 10:00 ET Business Inventories
10/17 8:30 ET Housing Starts and Bldg Perms
10/17 8:30 ET Philly Fed MI
10/17 9:15 ET Cap Ute and Ind Prod
10/18 10:00 ET LEIII
10/18 Speeches from Goons Kaplan, George and Chlamydia

Key Economic Events Week of 10/7

10/8 8:30 ET Producer Price Index
10/9 10:00 ET Job Openings
10/9 10:00 ET Wholesale Inventories
10/9 2:00 ET September FOMC minutes
10/10 8:30 ET Consumer Price Index
10/11 10:00 ET Consumer Sentiment

Key Economic Events Week of 9/30

9/30 9:45 ET Chicago PMI
10/1 9:45 ET Markit Manu PMI
10/1 10:00 ET ISM Manu PMI
10/1 10:00 ET Construction Spending
10/2 China Golden Week Begins
10/2 8:15 ET ADP jobs report
10/3 9:45 ET Markit Service PMI
10/3 10:00 ET ISM Service PMI
10/3 10:00 ET Factory Orders
10/4 8:30 ET BLSBS
10/4 8:30 ET US Trade Deficit

Key Economic Events Week of 9/23

9/23 9:45 ET Markit flash PMIs
9/24 10:00 ET Consumer Confidence
9/26 8:30 ET Q2 GDP third guess
9/27 8:30 ET Durable Goods
9/27 8:30 ET Pers Inc and Cons Spend
9/27 8:30 ET Core Inflation

Key Economic Events Week of 9/16

9/17 9:15 ET Cap Ute & Ind Prod
9/18 8:30 ET Housing Starts & Bldg Perm.
9/18 2:00 ET Fedlines
9/18 2:30 ET CGP presser
9/19 8:30 ET Philly Fed
9/19 10:00 ET Existing Home Sales

Key Economic Events Week of 9/9

9/10 10:00 ET Job openings
9/11 8:30 ET PPI
9/11 10:00 ET Wholesale Inv.
9/12 8:30 ET CPI
9/13 8:30 ET Retail Sales
9/13 10:00 ET Consumer Sentiment
9/13 10:00 ET Business Inv.

Key Economic Events Week of 9/3

9/3 9:45 ET Markit Manu PMI
9/3 10:00 ET ISM Manu PMI
9/3 10:00 ET Construction Spending
9/4 8:30 ET Foreign Trade Deficit
9/5 9:45 ET Markit Svc PMI
9/5 10:00 ET ISM Svc PMI
9/5 10:00 ET Factory Orders
9/6 8:30 ET BLSBS

Key Economic Events Week of 8/26

8/26 8:30 ET Durable Goods
8/27 9:00 ET Case-Shiller Home Price Idx
8/27 10:00 ET Consumer Confidence
8/29 8:30 ET Q2 GDP 2nd guess
8/29 8:30 ET Advance Trade in Goods
8/30 8:30 ET Pers. Inc. and Cons. Spend.
8/30 8:30 ET Core Inflation
8/30 9:45 ET Chicago PMI

Key Economic Events Week of 8/19

8/21 10:00 ET Existing home sales
8/21 2:00 ET July FOMC minutes
8/22 9:45 ET Markit Manu and Svc PMIs
8/22 Jackson Holedown begins
8/23 10:00 ET Chief Goon Powell speaks

Forum Discussion

by Trail Trekker, 12 min 48 sec ago
by admin, 2 hours 12 min ago
by NW VIEW, 3 hours 9 min ago