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 - 10:42am

Does anyone still think this is anything but 100% Algo Driven?

Honestly... after watching this stuff for over a year now, I have come to my own personal conclusion that these markets are nothing but pure algorithms. Watching this stuff oscillate with such precision makes me wonder how anyone ever believed this was a real market.... there are no statistical oddities... only precision touches of key price marks. Formations always break to proper breakout/breakdown targets.... etc...

The "short story" could be a strawman... this is not about the COMEX and JP Morgan...

This is about what they are protecting... the dollar reserve standard (metal priced in currency).

With all safe-haven curerncies now effectively debauching themselves.... I feel they are about ready to let gold and silver appreciate to now price the public out of physical before they know what hit them.....

Market is reaching a new level of disbelief.... one in which will result in a massive move when the resolution does come....

Keep your eye out....

P.S. -- All of this "they have more money to short." business.... they create the fiat.... they have infinite money (or digital purchasing power).... don't humor yourself that the master manipulators of gold/silver (currency control) are doing any of this for money.... it is all for perception.....

Oct 10, 2011 - 10:43am

Thanks Turd

You always seem to say it right turd.

I know I lost a nice chunk, all my profit for sure getting greedy. It upsets me I did it again just like May. That's why I have been quiet. Playing the paper game is risky. Stacking is so much better.

Thanks for your insight Turd

Oct 10, 2011 - 10:44am

well spoken


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.

Eric Original
Oct 10, 2011 - 10:47am

H O'


Oct 10, 2011 - 10:48am

Well of course Peacefull Revolutions are rare

But I prefer to start with respect, kindness, and the hope for something better, rather than start with the extreme bloodshed that I am capable of inflicting, and for which I'm prepared. I like to make friends whenever possible, not instantly alienate people.

Oct 10, 2011 - 10:48am

Thank You Turd!

Please pace yourself and take time to enjoy life, family and friends EVERYDAY man!

God bless you and your family!

[Edit] You are a one of a kind class act man. The example you set for others is off the charts cool!

Eric Original
Oct 10, 2011 - 10:50am


Brewers, Packers, Metals, Miners. Yes indeed, there IS joy in Mudville on this fine Monday morning!

Oct 10, 2011 - 10:52am

well said

Did some soul searching, myself, this weekend after arguing with my wife over my desire to get involved in the Occupy movement. Turd is right, it's time to prepare, and prepare those close to us. It's clear to me that most people don't understand the causes of their discontent, and are actually calling for MORE of the same - I don't think any amount of shouting, regardless of how much sense you make, is going to steer the angry mobs toward the right solution. I think this is all going to play out into the hands of the 1%. More government, more taxes, less freedom, in the name of "punishing wall street."

Let's make sure friends and family hear our message of preparedness first and foremost.

I like Gerald Celente's 3 G's:

  1. Guns
  2. Gold
  3. Getaway Plan
Oct 10, 2011 - 10:53am

Cdn Thanksgiving today

First of: TF glad you're back & continued "THANKS" for this site & your input. YOU are the MAN - in my book and in many others as well - no doubts!!!.

Today is Cdn THANKSGIVING celebration. Seeing that our country is generally colder than our good neighbour to the south, our harvest comes in earlier than USA. So our Thanksgiving is also celebrated earlier .

To ALL my fellow Canadians, may I extend to yous all a HAPPY THANKSGIVING. To all else - yes a happy day to yous also.

Oct 10, 2011 - 10:54am

Violence is not necessary.

Poor, wretched, and stupid peoples, nations determined on your own misfortune and blind to your own good! You let yourselves be deprived before your own eyes of the best part of your revenues; your fields are plundered, your homes robbed, your family heirlooms taken away. You live in such a way that you cannot claim a single thing as your own; and it would seem that you consider yourselves lucky to be loaned your property, your families, and your very lives. All this havoc, this misfortune, this ruin, descends upon you not from alien foes, but from the one enemy whom you yourselves render as powerful as he is, for whom you go bravely to war, for whose greatness you do not refuse to offer your own bodies unto death. He who thus domineers over you has only two eyes, only two hands, only one body, no more than is possessed by the least man among the infinite numbers dwelling in your cities; he has indeed nothing more than the power that you confer upon him to destroy you.

Where has he acquired enough eyes to spy upon you, if you do not provide them yourselves? How can he have so many arms to beat you with, if he does not borrow them from you? The feet that trample down your cities, where does he get them if they are not your own? How does he have any power over you except through you? How would he dare assail you if he had no cooperation from you? What could he do to you if you yourselves did not connive with the thief who plunders you, if you were not accomplices of the murderer who kills you, if you were not traitors to yourselves? You sow your crops in order that he may ravage them, you install and furnish your homes to give him goods to pillage; you rear your daughters that he may gratify his lust; you bring up your children in order that he may confer upon them the greatest privilege he knows — to be led into his battles, to be delivered to butchery, to be made the servants of his greed and the instruments of his vengeance; you yield your bodies unto hard labor in order that he may indulge in his delights and wallow in his filthy pleasures; you weaken yourselves in order to make him the stronger and the mightier to hold you in check.

From all these indignities, such as the very beasts of the field would not endure, you can deliver yourselves if you try, not by taking action, but merely by willing to be free. Resolve to serve no more, and you are at once freed. I do not ask that you place hands upon the tyrant to topple him over, but simply that you support him no longer; then you will behold him, like a great Colossus whose pedestal has been pulled away, fall of his own weight and break in pieces.

Etienne de La Boétie - Discourse of Voluntary Servitude


Subscribe or login to read all comments.


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 11/18

11/19 8:30 ET Housing Starts & Bldg Perms
11/20 2:00 ET October FOMC minutes
11/21 8:30 ET Philly Fed
11/21 10:00 ET Existing Home Sales
11/22 9:45 ET Markit November Flash PMIs

Key Economic Events Week of 11/11

11/12 Three Fed Goon speeches
11/13 8:30 ET CPI
11/13 11:00 ET CGP on Capitol Hill
11/14 8:30 ET PPI
11/14 Four Fed Goon speeches
11/14 10:00 ET CGP on Capitol Hill
11/15 8:30 ET Retail Sales
11/15 8:30 ET Empire State Manu Index
11/15 9:15 ET Cap Ute and Ind Prod
11/15 10:00 ET Business Inventories

Key Economic Events Week of 11/4

11/4 10:00 ET Factory Orders
11/5 9:45 ET Markit Services PMI
11/5 10:00 ET ISM Services PMI
11/6 8:30 ET Productivity & Labor Costs
11/6 Speeches by Goons Williams, Harker and Evans
11/8 10:00 ET Consumer Sentiment
11/8 10:00 ET Wholesale Inventories

Key Economic Events Week of 10/28

10/30 8:30 ET Q3 GDP first guess
10/30 2:00 ET FOMC fedlines
10/30 2:30 ET CGP presser
10/31 8:30 ET Personal Income & Spending
10/31 8:30 ET Core Inflation
10/31 9:45 ET Chicago PMI
11/1 8:30 ET BLSBS
11/1 9:45 ET Markit Manu PMI
1/1 10:00 ET ISM Manu PMI

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

Recent Comments

by Blackwatersailor, 1 hour 41 sec ago
by SteveW, 5 hours 57 min ago

Forum Discussion

by Green Lantern, 9 min 36 sec ago
by Scarecrow, 12 min 28 sec ago
by Green Lantern, 14 min 57 sec ago
by Solsson, 21 min 17 sec ago
by Green Lantern, 23 min 24 sec ago