Shakeout

229
Mon, Sep 19, 2011 - 11:24am

The Turd awoke this morning to the disturbingly familiar LBMA/Comex beatdown pattern we've seen so frequently in the past. This stuff is sure getting old but, unwittingly, it appears that The Cartel is about to hand us an extremely attractive opportunity.

First, take a look at this 5-minute chart. It's a classic, coordinated attack pattern. Word leaks on the LBMA that The Cartel is going to raid the metals today. Down spikes ensue as those with foreknowledge prepare for the event. The Comex opens and BOOM!

If I were you, I would print this chart and tape it above my computer. In the future whenever you see this pattern, you'll know what's coming.

OK, onto the expected buying opportunity. It's not today...at least I don't think so...but it is coming very soon. My problem is that I have very little cash. I foolishly plunged last week when I thought we'd seen a bottom at 1800. Oops. I'm also long a bunch of Nov11 soybean calls that look like they have the potential to generate some continued losses to pair up versus all of my gains from the PMs earlier this year. Oh well, whaddayagonnado?

First, let's look at gold. It could stop and reverse right near last week's lows. It could. I don't think it will, however. Let's put the likelihood of a turn near 1770-80 at 25%. More likely is a drop all the way toward the trendline from August 8. What is the significance of that date, you ask? It is the low from the gap higher opening after the U.S debt downgrade. See the charts below. At any rate, I think it's 75% likely that gold falls all the way 1740 or so. At that point, if I had any cash, I'd be all over it. Unfortunately, I don't so I'm reduced to being a very interested spectator in this one.

Silver has fallen in line and looks roughly the same. Recall last week I mentioned that crude looked subject to a drop back to 82-85 and, if that happened, it would surely take a toll on silver. Well, nuts, that seems to be playing out. IF gold drops toward 1740, silver will have to deal with continued selling pressure. However, it now has a chart that is similar to gold. It should have substantial support near $38 or so. You can plainly see it on the longer term charts below.

Again, please understand that the days of this crappy, LBMA/Comex paper metal monopoly are numbered. "The futures 'tail' will only wag the spot 'dog'" for a little while longer. Be patient and have faith. Use this weakness against them. Buy physical and take delivery. It is truly your only protection against the madness ahead. TF

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  229 Comments

PM Stackin' Fool
Sep 19, 2011 - 11:25am

First!

First!

Vincent
Sep 19, 2011 - 11:27am

Thanks TF!

Thanks TF!

madgstrader
Sep 19, 2011 - 11:28am

couldn't agree more

The gift that keeps on giving

No doubt in my mind that what we just saw was a takedown at the usual time. Volumes fading and the fix is in. Here's your buy opp:

Dr G
Sep 19, 2011 - 11:30am

Thanks, Turd! BTFD!

Thanks, Turd! BTFD! The manipulation is mind-numbing at this point, but I suppose we had to see it coming. Silver moves higher into the close on Friday, then Globex/Sydney/Asia open with a whimper last night (like they've done for the past month). Silver is basically traded within 20 cents all night long in Asia. There was no strength there and no buying either, for whatever reason. I thought Asia loved the metals?

Maybe Asia is just smart enough to know as long as they do moderate buying the Crimex will keep lowering the price and giving them a discount.

bensgone
Sep 19, 2011 - 11:39am

Same ole crap week in and week out

Friday September 16, 2011 6 pm EST.

In retrospect I think everything in the last 12 days was orchestrated by the global financial elites to prevent a cataclysmic global financial meltdown. The target was Friday the 16 the “Quadruple witching hour” ( D-Day) for the financial markets. Imagine what would have happened if their beloved DOW had melted down. What options and futures and derivatives and their value would have plummeted, had this occurred? What dominoes might have been fallen as the result of all of the uncertainty over the Euro debt crisis? The next “D-day” will be in November. So, let us be forewarned that EE will likely strike then also, especially if we have similar conditions prevailing upon the global markets at that time too. This latest central bank coordinated prop up of the Euro banking establishment is to extend three months, just in time for the next “Quadruple Witching hour” the will occur on the third Friday of that month. There are patterns here that we must learn to prepare ourselves for the next market decision we might make. There are a whole list of times and reasons for the EE to strike. Next week has lots of stupid meetings again,, I think the G27 and the FMOC then. So, who knows what these bastards have planned for the PM’s. The urgency to mash the price should not be as great as it has been the last 12 days, we hope.

Monday September 19, 2011 10:30 am EST.

Well, well, here we are again with “Mash ‘em down Monday” morning when the EE starts its waterfall price hammer smashing PM’s, right on time, not long after the Crimex opens, just in time for the two day FMOC meeting starting Tomorrow the 20th. I have never seen a September loaded up with so much crap. Endless meetings by the “Big Boys of Finance”, constant jawboning the markets into submission, and more bailouts, and talk of such, than you can shake a stick at. Nice way to start off the opening of the strong season for PM’s. Will there be another “Turn around Tuesday” like last week. Who knows, that seems to be the pattern. Turd let you know last night that this smashdown was possible, and true to form, he is spot on once again.

Also, notice that this attack begins in earnest early this morning when the “Lousy London LMBA” opens its criminal doors at 3:30 am EST. Right now, we have Obummer screaming his nonsense into the air waves. NOT GOOD at all ever, especially when it’s about the economy. There could be a breakout in PM's this week but only when the EE stop hammering and banging on the price to keep it down for their silly speeches and meetings, and when there "appears" to be some resolution, albeit temporary, to the European debt crisis. Just remember, this is all orchestrated theater to keep you off guard and ready to sell your positions out of fear. Never give in, never give up. There is only one "safe haven" left. Only one lifeboat available. Every Turdite knows what that is. Need I say more??

ScottJ
Sep 19, 2011 - 11:42am

Evidence of Gold Supercycle? (Repost)

Repost From Last Thread, as I am wondering if others think this as well?

When gold hits highs against all currencies, it will trigger an acceleration upwards as all fiat currencies lose trust relative to sound money ~ Mike Maloney Paraphrased.

--

Since the safe-haven currency of the Swiss Franc has intentionally devalued itself a couple of weeks ago (which is owned by the global western banking empire, it is not independent), it very well suggests that gold has become the official safe-haven. If this is to be, there should be evidence... Proof may be found in the fact that all gold prices in all western world fiat currencies are now directionally correlated.

Very interesting recent development, as usually a US Dollar gain on the Euro will cause Euro Gold to go up, but dollar gold to go down, in a relative manner. Look at what the past 24 hours of gold has done in the major western fiat currencies.... and with a global bailout coming this week, is it finally time to see the super-cycle kick off in high gear? Is this the moment that Mike Maloney had been describing? It appears that there is a strong chance in my opinion.

https://goldprice.org/spot-gold.html

US Dollar

Australian Dollar:

Canadian Dollar:

Swiss Franc:

Euro:

The Great Britain Pound:

Japanese Yen:

--

Interesting times fellow Turdites. Interesting times....

Tesla
Sep 19, 2011 - 11:42am

Thanks as always Turd

FUCOMEX - BTFD (waiting for the bounce)

tallydynasty madgstrader
Sep 19, 2011 - 11:42am

Santa has a 1764 angel which

Santa has a 1764 angel which was a rock last week.

Bay of Pigs
Sep 19, 2011 - 11:46am

NEM

I noticed it hit a 52 week high earlier today. I could be wrong, but I don't remember a miner doing that in the midst of a raid before.

exiledbear
Sep 19, 2011 - 11:50am

Still in the correction

Won't be obvious until at least a week has passed that we're out of it. Could be out of it right - now. Won't really know until a week has gone by. That's part of the rules of the game. Sucks, donnit?

Every bull market has these little "Are you sure?" interludes. Well, are you sure? Do you have any doubts? Don't you want to let go of what you're holding onto? Doesn't it hurt? Wouldn't it feel better just to let it go?

And I've been here long enough to tell you, if you let go now, it will hurt you much worse than it does right now.

It's a bull market, you know.

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