Mon, Aug 22, 2011 - 10:37am

At approximately 5:05 EDT, the Sep11 silver contract reached the $44 level. A few minutes later, it traded as high as $44.09. Thereby, another Turd prophesy has been fulfilled:

I'm just glad that's over with. I was in no mood to take another rash of sht from the losers at Kitco.

OK, back to business. The Forces of Darkness are in deep trouble in silver. This morning, silver is above all of its upwardly-pointing moving averages. This, when combined with the very friendly chart, is serving to bring all sorts of TA-oriented longs back into the pit. In a desperate attempt to contain the runaway, the EE predictably beat down silver in the wee hours of the morning. They were trying to close the gap on the chart from last night's open and they succeeded. Hurray for them. What did they accomplish? They're short a fresh boatload of silver contracts and the Sep11 is now back above 43.50. Whatever. Wait until tomorrow at this time. Or even Wednesday. I think we could see $45 before the shenanigans surrounding option expiry on Thursday begin.

As you can see below, gold has been subject to its traditional manipulation, as well. The seminal study of this phenomena was written by Adrian Douglas and it was posted to ZH about a year ago. If you have the time, I highly encourage you to read this:“fixed”-it’s-rigged

In its present form, the manipulation discussed in the link above looks like this:

Like I said above, relax and smile. The PMs are headed higher today. Tomorrow, too. Gold came within a whisker of $1900 overnight. It will break that barrier soon, probably overnight tonight.

Have a fun day! TF

About the Author

turd [at] tfmetalsreport [dot] com ()


Aug 22, 2011 - 10:39am


First Woopee

Aug 22, 2011 - 10:41am
Aug 22, 2011 - 10:42am


Thank you Turd for everything you do here. Wish I had more guts a few weeks ago. Now I need to reestablish where to go from here with my dry powder (does anyone still have some or am I the only one? .. lol )..

Air Garcia
Aug 22, 2011 - 10:44am

Gold Shorting Question

The gold chart looks pretty much like the silver chart before it got hammered down to $35. Is there a gold hammering coming up quickly? Does anybody feel that is in the works here sooner rather than later? There's a big gap around 1675 or so ... but i don't know sh*t from shinola as compared to many (most) of you around here. . . looking for some opinions.

Tom L
Aug 22, 2011 - 10:46am

FUBM in Silver

Underway. $43.88 and rising.














Aug 22, 2011 - 10:46am

return of the FUBM

Nice FUBM this morning. Feels good, it has been awhile since we've seen such a beauty.

Aug 22, 2011 - 10:46am

Fourth for Smeagles!

Fourth for Smeagles!

I have 54 and 72 January SLV calls and they are doing nicely.

In 54 calls at .95 and currently $1.86.

In 72 calls at .27 and currently .49.

Aug 22, 2011 - 10:47am

Whew! Relief is right

Ok... the smoke has stopped coming out of my ears and I'm a bit calmer.

Maybe the EE heard me......haha. Glad to see the PM's took right off again.

They're still bastards!

Dr G
Aug 22, 2011 - 10:48am

I just love these new posts.

I just love these new posts. Often they are one of the highlights of my day. Not just for the content, but because they are so honest--so truthful and raw. Downright hilarious at times as well. A real pleasure to read. Thanks again to the Turd!


Aug 22, 2011 - 10:51am

$HUI Breaking out?

Will take a strong weekly close before it really can be confirmed. However, previous high was ~609.22.

If this can happen, miners should be feeling some loving... EE dependent...

**I would still be playing it safe here... wait for a definitive move if you are trying to be safe, as the waters are still shark-infested**

Vypuero Air Garcia
Aug 22, 2011 - 10:51am

don't even think of shorting

You will get your arse handed to you. It is a bull market now, timing a short will be very difficult, risk/reward is against you.

Aug 22, 2011 - 10:53am

Fools, drunks and children.

Fools, drunks and children.

I'm 56 and hardly ever have more than a beer or three. Guess where that leaves me?

Fool that I am, about a month ago I cashed out my 401-k and bought Gold Maples. As long as there is no massive beat down, it appears I've already made back my "penalty" and dodged the bullet would have torn through my account over they past couple weeks of DOW deterioration.

After a lifetimes of stupid decisions I finally got one right.

Thanks, Turd.

Tom L Vypuero
Aug 22, 2011 - 10:55am


Exactly. I haven't even seen any break-away moves in the miners yet. They haven't even started to really run. Be right and ride it for a while. Pull profit off the table, but don't go short. This is the moment we've been playing for so this is the time to watch and be prudent. I've held back on the buy button no less than 12 times this morning reminding myself to be content with the money on the table and the potential not to try and grab the last bit and get my ass handed to me.


Animal Sacrifice
Aug 22, 2011 - 10:55am


Screen so green today, it strips all desire to plant a garden away from me.

Ogun fun o me opolopo owo

Aug 22, 2011 - 10:58am

So this is what it feels like

So this is what it feels like to be on the winning side of a trade... Much love and respect to you Turd, You da man! (and when they raise margins, you will still be the man)

Aug 22, 2011 - 10:58am


Still not first yet? You're trying hard mate ;)

beinki: Rofl'd my ass off after I noticed Osama in the back :)

Aug 22, 2011 - 10:59am


So difficult to sell into rally, but today I booked some profits. This might be a sign to the rest of you to go all in.

Aug 22, 2011 - 11:00am

Ummm, Tesla....

Beinki just raised the bar for today's pic of the day award...

I can only imagine your counter

Bink: dude that was 100% brilliant!

Aug 22, 2011 - 11:02am


That little prick Nadler needs his own bullish chart pattern

Aug 22, 2011 - 11:05am

Good Stuff!

"I was in no mood to take another rash of sht from the losers at Kitco."

lol! Good work TF!


Had an awesome trip to the Coin Store last Saturday! people were coming in selling mostly... but I was buying. He has a sht load of sterling, he piled a bunch up on the counter as we talked.

has been hooking me up w/ coin at prices lower than I can scrounge on the net, and it's local so that's cool! no paper either... Like was said it can be helpful to get to know the local guys!

This is one of several trips in the past few months, and the guy likes to chat about economy, European debt crisis, just like we do here.

Aug 22, 2011 - 11:08am


For the longest time I thought FUBM stood for "Fucked Up! -Blythe Masters". I was vewy, vewy cwose!


Aug 22, 2011 - 11:10am

Moday Mornings positive post...

My attempt to bring some cheer to this dreary bunch.

1)The most positive news of the morning: Nice Silver FUBM!

2)Good news for degenerative neuralgic diseases like ALS

3)A real commercial company Spacex, is building space craft, and will be launching to the ISS in November at a cost to NASA of less than 1/10th of a Shuttle mission!:

4)Every wanted to go back and brush up on something you missed at school: (For free)

Khanacademy is being used in schools all over the world to boost educcation! Never underestimate the power of a single dedicated human.

Eric Original
Aug 22, 2011 - 11:20am


How in the hell can GTU be down today? Makes me sick. I don't own it, but I have some in some family members accounts.

Aug 22, 2011 - 11:21am

SpaceX Dragon

Dragon will cost 1/10th of a shuttle mission and carry about 1/10th the payload....wash.

Aug 22, 2011 - 11:22am

Congrats on 44 Turd!!!

I'm feelin' lucky!!!

I was wide awake before that early this morning watching it on my crack-berry...was fun to watch the site lite up when it hit.

Onward and upward, but always looking to BTFD.

Picked up 8 nice bright shiny 1964 JFK halves over the weekend for what came to about 41.5/oz!!! Loving that deal...but at the same time got a 6 troy ounce big-ass silver eagle that came to about 46/oz, so that kinda upped my avg. per oz there. Still a very cool looking silver eagle!

Joe Martins Ghost
Aug 22, 2011 - 11:26am

Another suckers rally

Another suckers rally today.

Now that the retail investors have been all but driven from the markets and all we have left are the algo driven HFT computers we can expect yet another irrational (if not short lived) rally in the markets today. In part the delusional will interpret the fall of Kaddafi as the harbinger of some new stability for North Africa. The TV pundits have already started with the lollipops and roses meme for the aftermath in Tripoli. I wonder if In-Trade has a bet on how long it will take for it to fall apart into chaos if not outright tribal warfare.

But never mind that, everyone is anticipating the DJIA to be up today following the European markets and a lowering in the gold price on the London markets. The flurry of emails filling my in box on all the supposed “hot buys” has become one of my favorite forms of entertainment. They all can be summed up in one sentence: “This is the bottom you have to buy now or get left behind by a resurging market!” I guess they would have us ignore that each new “rally” has a half life even shorter than the previous one and is followed by an even larger decline. They’re trolling for suckers but I’m not one of them. As far as I’m concerned the fine print disclosure statement, or as they see it “get out of jail free card” is no pass for the criminal nature of this activity of preying upon the scared and uninformed.

If one willingly jumps into a tank full of sharks knowing full well that you might get eaten it’s one thing, but when the sharks are chumming the waters to entice the unwilling and uninformed to jump right into their greedy jaws it’s quite another.

But then it is just this kind of criminal fraud that got us into this mess and not a single one of these rapacious monsters of Wall Street has seen a single day in jail never mind in court, why then should we expect them to change their behavior. The SEC and the CFTC are staffed with former and future employees of the very institution they are allegedly regulating so don’t expect any justice any time soon. And when the pressure does begin to mount you can bet that the worst of them will already have left and be residing in Liechtenstein or someplace else with no extradition treaty and safely out of reach.

Aug 22, 2011 - 11:31am

@Eric Orig...

question...I see that you're online, so wanted to ask you this question.

I may be able to get this 1924 Double Eagle for about 1850...looking at the pics and the year, etc. Do you think I should go for it since the price is nice?

thanks man!!!

Aug 22, 2011 - 11:34am

401(k) AGQ/UGL

First of all, thanks so much Turd for everything you do! Have felt boxed in w/ my 401(k) for the last few months. Have taken max loan & used the $ to buy physical, but w/ the remaining balance that was trapped "in the computer", its always been a struggle to figure out what to do. Don't want to invest in traditional stocks that are struggling to keep up w/ inflation. Didn't want to miss out on gold and silver gains either. But I also didn't want to support the slv and gld sham. So I held my nose and went agq & ugl, even though they are the tools of darkness, just to stay in the action. But today I sold off significant portions of both holdings and jumped into the mines. Feeling a little less like I need to take a shower now. Thanks for the forums and the ability to learn Turd! Thanks to all posters for sharing your insights as well!

pbreed cpnscarlet
Aug 22, 2011 - 11:35am


Shuttle payload to LEO:53,600 (Less to ISS when counting station maneuvering reserves, but I can't quickly find that number.)

Dragon 13,000 lb to ISS.

So 24% of the pay load for 10% of the price. Still a win!

Aug 22, 2011 - 11:39am

What do you say Turd World...

will we see Au $1,900 today? C'mon lucky Sevens!!!



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