Thursday Morning Update

Thu, Sep 1, 2011 - 10:21am

While the site is actually up and running, I thought I'd take a few minutes to create a quick update. It seems that the site is going down with greater frequency these days. However, "with a firm reliance on the protection of Divine Providence", we go forward.

I never did get filled on any new trading positions yesterday. I was hoping to buy some October gold calls but I never quite got the dip I was looking for. I'm going to give it another try today. Since The Cartel usually tries to raid the PMs on the day before the BLSBS report, I like my chances. As you can see on the chart below, a dip toward 1800-1805 looks to be a pretty good buying opportunity.


Silver looks to have stout support just north of 41, in the vicinity of 41.25.


The Turd has a long day ahead so I may not be able to update again until later this afternoon.

Have a great day! TF

About the Author

turd [at] tfmetalsreport [dot] com ()


Sep 1, 2011 - 10:24am


Hi .... №2

Sep 1, 2011 - 10:24am

So good to see the site up

So good to see the site up again! It's been working erratically for me for some hours.

Let me repost from previous thread:

I remember watching one video of Naylor Leyland at On the Edge with Max Keiser, talking about PAGE, around 1 month ago, check it out!

Video unavailable
Sep 1, 2011 - 10:25am

I hope the site going down

is not the work of the anti PM organizations which are plentiful where I live.

Sep 1, 2011 - 10:43am

I think I'm just not

I think I'm just not going to look at any account today. No peeking options or shares or anything. It just might be too painful with the expected smackdown and we know it will rebound.. ..eventually. Sometimes you just have to step away. .....Best of luck to all who are looking to Buy The Fun Dip today! :]

Sep 1, 2011 - 10:47am

proformatrillionaire wrote: I

proformatrillionaire wrote:

I hope the site going down is not the work of the anti PM organizations which are plentiful where I live.

No, it's not. Just some unfortunate technical issues.

Sep 1, 2011 - 10:49am

hey Turd!

Do you still expect a break above the 1840-1850 level soon, or do you think the "powers that be" will take us down near 1720 to paint a nice head and shoulders and have the Gartman's of the world saying it's all over now? either one i'd view as a buying opportunity, but curious as to your thoughts.

Sep 1, 2011 - 10:49am

I like the pullback

Give's me a chance to buy some silver stocks !!!! Cheap one that is !!


Ferd Torgerson
Sep 1, 2011 - 10:52am

What are We "Sinking" About?

Saw this video years ago. Never thought until this morning just how appropriate it is to our current situation.

Before the government can fix our financial problems, they have to understand them. Not sure that is what we are seeing.

German Coastguard Sinking - Learn English Commercial
Sep 1, 2011 - 10:54am

site down

dang forces of darkness...

Sep 1, 2011 - 10:55am

UBS UBS : GLD $1750-$2000 till november

Sep 1, 2011 - 10:56am

a big heee

a big heee from the netherlands

Sep 1, 2011 - 10:57am

I'll repost this from the

I'll repost this from the recent thread, this is very interesting, in Bob Pisani's tour of the GLD vault in the CNBC gold rush special, he held up a bar from the vault, well someone checked the serial number on that bar and it is not in the GLD list............what a surprise.........

Tom L
Sep 1, 2011 - 10:59am


Is catching a nice bid this morning after languishing through the last two pushes above 600 on the HUI. I have to commend Mark Bailey on keeping the float on this company so low, it's paying off now that they're making money and the stock is tough to short due to very low supply.

SVM should announce an open-ended share buy-back program at these prices.


Dr G
Sep 1, 2011 - 10:59am

Silver looking a tiny bit

Silver looking a tiny bit spry this morning, I have it up a bit which is nice considering gold is down and the POSX is up (!?!).

Sep 1, 2011 - 10:59am

G'mrng all

I was just able to access the website five minutes ago. I don't know if it was a regional thing (in NY ) but it looks like some others were able to post earlier maybe while I couldn't?

Another wacky market day so far I see. The charts look like a small earthquake tremor is underway. It looks very bouncy like the algo's are looking for a direction.

Maybe they sense a cliff.

Sep 1, 2011 - 11:00am

Gold in the GLD vault [Repost]

[Repost from last thread]

"BUT... BUT, NO Massa Turd! The gold is there! I seen it on the teevee!"

Anybody catch yesterday's segment of the CNBS gold series? They let Bob Pisani into theGLD secret vault, (complete with a blacked out lomo ride) and even let him pick up a gold bar and show it to the camera. Now here's where the fun starts!! Some enterprising "conspiracy theorist" caught the serial number on the bar and checked it against the GLD holdings, and lo and behold! ...that same bar seems to be missing from the GLD inventory!! Man, it just keeps getting better and better!! Quite impressive, though to see those hundreds of pallets full of gold bars in that um... I mean gold-plated tungsten bars.
Sep 1, 2011 - 11:02am

Gathering some nice momentum

Gathering some nice momentum here...Is this Market nutty or what lol.

Good fun though.

Tom L
Sep 1, 2011 - 11:02am

The Oil Chart

is definitely capped at around $89.00 $0.50 right now. They are seriously holding it under $90. There's some resistance on the chart, but not much. So, it'll be interesting to see how long they can play the cross-currents of falling GDP vs. QE9.


Sep 1, 2011 - 11:07am

@ Ginger - that is a great

@ Ginger - that is a great idea! I find watching it day-to-day drives me crazy, especially if you are position trading like me which means trading in a longer time frame - I think the definition is one month to a couple of years. Some people like stops but I prefer hedges, I won't sell my miners but if I have some cheap OTM puts in SLV I will make money if there is a crash in the precious metals.

Sep 1, 2011 - 11:08am

I see Oil dropping tomorrow with the Market

So I am shorting both. They are both about to cross MACD negative. Not confirmed, but with the jobs report as expected I think they will go down hard.

FogHorn LegHorn
Sep 1, 2011 - 11:09am

hey all

I,m looking at nibbling some quality Miner options, but am waiting for the impending raid. Gut tells Me it might be a biggie, be carefull on options today. Jmho :) ps.shout out to ginger hope alls well with fam, I've been worried for You, I just found your dimwit option thread, great start so far, Ciao :)++

Eric Original
Sep 1, 2011 - 11:13am

Site up, but still weird

When I hit "Home", I don't see this new thread. Had to link to a comment on the "Recent Comments" sidebar to get here.

For those following Rubicon, some interesting news today. A small company owned a 2& NSR royalty on the big project. Franco Nevada just bought that. Getting Franco's stamp of approval on something is always a good sign.

EDIT: I get it. New thread is second on list on Home page because the PAGE post left up top as a "Sticky". OK.

The Vet
Sep 1, 2011 - 11:13am

SVM - great deal (Repost)

If you believe that SVM is way undervalued here (as I do) then take the shorts on...

Sell as many of the September $7 strike puts for 45 cents as you are prepared to buy SVM stock.

If the price is below $7 in 16 days then you have bought SVM for $6.55 a share a huge discount from the present price of $8.40.. If it doesn't drop below $7 then you have .45 share pure profit for zero outlay ($45 a contract less commissions) I'm loaded with them but the shorts are still giving the money away!

Tom L
Sep 1, 2011 - 11:13am


It looks like the combination of the 50 hour MA and the 61.8% RT line is working as short-term support. Brave people might want to nibble, especially if you bought yesterday at higher prices. Putting in limit bids of like $8.30-$8.25 should get filled if this thing chops around for the next couple of hours.


Sep 1, 2011 - 11:15am

Silver to Shine

Both gold and silver look bullish with an emphasis on silver. It's almost downright silly how much the Large Specs have cut their long positions. If one just studied the COT without knowing the price development for the white metal, one could easily have guessed the low 30's as the current price of silver. Speculation combined with short covering can take this market well above $50 within weeks after take off. I say the countdown has already commenced!

Sep 1, 2011 - 11:18am

Dollar 3yr Chart

While the metals look strong at the moment, the same can't be said about the US dollar. It's been in a well defined downtrend for more than a year and is within striking distance of another leg down. If the all-time low just south of 71 gets taken out - look out below. Such a move will have a terrifying affect on the world's financial system.

Tom L
Sep 1, 2011 - 11:19am


Thanks for the insight on how to play this SVM thing. I'm not prepared to execute that strategy, but it's sound and I'll start looking for ways to implement something like that in the future.

I'm new to this options thing and just trying to keep it simple right now. Buy low, sell into strength and don't commit too much money to any one position, no matter how sure I am of it being a winner.

Seriously, thank you for the input I would have never considered anything like that. 


Sep 1, 2011 - 11:20am

Great charts

Great charts economicfreefall, thanks!

FogHorn LegHorn
Sep 1, 2011 - 11:23am

Good news for rubicon

Eric, ta! I followed your thinking re 16% sell off on Auq, slid in on some itm calls, bought some, ppp stock as it was beaten up too. Rubicon is a high grade, (always a good thing), deposit, near GG's cash cow, fnv taking an interest piques, My interest, I've owned rubicon in the past and will take another peek, thanks, E!

Sep 1, 2011 - 11:23am

SVM...EXK and the 1030 dip

Bought a few hundred around 8.30 and bought back most of my EXK at 11.70 that I sold at 12.15 yesterday. Just waited for the 1030am dip..... right on schedule today.

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