Monday, Monday

Mon, Oct 10, 2011 - 10:18am

After a fun, three-day weekend, The Turd is rested and ready. I'd like to thank everyone who sent emails and donations along to cheer me up and inspire me to continue. All are much appreciated.

First up, here are your updated 2-hour charts. There's clearly a lot to like on these charts. Well, not the BS downdrafts that put us here but the action since has certainly been encouraging. Both charts look to be building in strength but that are both hitting into that area we've called "Max Q". Again, once we're above Max Q, you can get excited. Until then, the PMs are simply at the top end of the range they've been in since finding a bottom two weeks ago today.

The Commitment of Traders report from Friday showed a continuation of the massive, bank short-covering and spec long liquidation trend and total open interest is getting amazingly low. These number indicate that either the Comex is closing and going out of business or the situation is getting increasingly bullish. I'll let you decide.

This next item is interesting. At a speech in Houston last week, Commissioner Chilton laid into his fellow commissioners a bit. The text of the speech is linked below at the "SilverDoctors" site:

I found this last night, too. You might want to print and save this one:

Lastly, as mentioned above, I appreciate all the well wishes and attempts at cheer. Please understand that my frustration is not with you, my dear reader, or with the PMs, in general. This site was built with the goal of reaching and helping as many as possible and, to that end, it is succeeding in spectacular fashion. My main "issue" these days is all the talk of revolution and the anger that comes with it. Even some long-time friends of the site have gotten caught up in the fervor and I am finding all of this to be increasingly toxic.

I am an ardent believer that we need a revolution in this country but it's a revolution of ideas. It's a revolution of the spirit and of the soul, not of anger. It's a revolution of peace and a selfless commitment to helping others, not a revolution of tyranny and guillotines. Please, I beg you to look inwardly. You must first affect change in your own life and the lives of those immediately surrounding you. In time, our current financial system and way of life is doomed to failure. The system will inevitably collapse from the weight of its own corruption and dishonesty, not by group action and protest.

Therefore, be patient and utilize this time to prepare. Learn and know what you believe in and why you believe it. You must prepare to lead not follow. Your courage must come from your convictions, not from the mob you join.

Hand in there and have a great day. More later. TF

p.s. I'm confident that the comments section will soon be littered with all sorts of angry and bitter, anti-TPTB rants. Fine. Just keep it civil. I'm instructing all the mods to keep a very short rein on each and every member. If you want to vent and argue, take it to the forums. In fact, we've even created a dedicated forum just for you:

Remember, don't be a jerk and always treat others the way you want to be treated. Anyone abusing this site or its members will soon find their "account" suspended. This site has standards of decorum and anyone that doesn't like these "rules" should leave. Now.

About the Author

turd [at] tfmetalsreport [dot] com ()


Oct 10, 2011 - 10:21am


You're the man Turd, glad you are rested and ready to roll!

Perfidious Albion
Oct 10, 2011 - 10:24am


Thought maybe you were

Alabama3 - Too sick to pray
H - original
Oct 10, 2011 - 10:28am

I picked up 8lbs and 3Oz of solid Gold

My wife gave birth to our first baby boy on Friday morning. TF and everybody here, I want to thank you all for the insight that you have given me. That insight will ensure that we can best prepare him to live thru what may come and enjoy brighter times to come. H

Oct 10, 2011 - 10:34am

Thanks turd

Thank you for always reminding us what it's about. It's so easy to succumb to anger in these trying times! Thanks for reminding/challenging us to be better than that. Keep doing what you're doing. Brings the hopeful together. Without such places to gather, I'm sure many of us would be less able to meet the future as prepared as we are. Keep on keeping on. God bless.

Oct 10, 2011 - 10:35am

Good morning and H...congrats!!

TF, so glad you had a good rest and are back. Great words of encouragement and clarity regarding the coming events. Much wheat and chaff to sort through but what a good process. boys are the best!! : ) So happy for you. To bring new life into the world is good and affirms belief in something bigger than ourselves. Hope you are ready and rested up 'cause you're gonna be busy! :D

Oct 10, 2011 - 10:36am
Oct 10, 2011 - 10:37am

I couldn't agree more

I'm sure the system will end in spectacular fashion, but whether or not it will be bloody or to what extent, is completely dependent on our attitudes. Not that I'm particularly hopeful in that area, but I've seen enough real violence to at least be willing to try something different first.

It's strange; while I have no intention of getting rid of my stockpile, at least for dollars, I'm still rather happy that its value in dollars is going up even though this decreases by purchasing ability. So very conflicted.

Also, good that you're feeling better.

Oct 10, 2011 - 10:41am

Peaceful revolutions are rare

Peaceful revolutions are rare in history and thinking we are going to get one is wishful thinking at best. Take a step back and just look at the population. Most have become slaves that will lick boots as long as the entitlements keep flowing. When they stop there will be blood. The theme of this site is right... Prepare accordingly. I have moved from the depression stage to the acceptance stage. Accept there is no easy way out. The criminals that seized the US and the world are going all the way. There is no stopping it now except maybe divine intervention. Prepare now to save your family some future pain. Death no longer frightens me. What will happen will happen. Just make sure you secure in what happens on that day we all meet eternity.

Dr Durden
Oct 10, 2011 - 10:41am

Aaaah yes

Another moment where the sun peaks it's head out of the dark looming clouds. Another moment where all seems well....

Then rain, hard rain, hail, hurricane force winds, death, destruction.

Could be a great fiat making event taking place right now. Let the oversold become over bought a little, load up your shorts, sit back and watch it all fall apart....again....

Oct 10, 2011 - 10:41am


..On your Son. I don't envy you the worry that you'll experience in these times. You have something amazing to live for though, and that I envy. I hope they're both in good health.

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

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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

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