Fast Market = Fast Update

Thu, Oct 27, 2011 - 10:39am

No time for dillydallying today. Things are rolling so let's get right to it.

Let's start with our two base commodities as the PMs are definitely drawing some strength from them. As I type, Dec11 crude is up $2.41 at $92.61. DrC is charging higher again, too.

These two have given a boost to silver which is finally trading back above $34.

Gold is lagging just a bit but the chart suggests that it won't be lagging much longer.

That's all for now. I'll have a more detailed update after the close. TF

1:10 pm EDT UPDATE:

As this epic drop in the POSX continues, look for even more downside tomorrow. As noted in the post from later yesterday, once 76 gave way, The Pig looked to fall into the abyss. As you can see on the chart below, 74 looks likely as a short-term bottom.

Dropping to 74 tomorrow or next week would likely be the impetus for gold at 1780 and silver at 37. TF

About the Author

turd [at] tfmetalsreport [dot] com ()


silver foil hat
Oct 27, 2011 - 11:39am

a penny per second jump at +1.00?

wow... some silver short wanted to cover.

look at the time spent at +.95 .07

Oct 27, 2011 - 11:41am

WSJ/Vatican Statement

Thanks for that useful clarification - I think these things are sometimes skewed to be totally different.

Oct 27, 2011 - 11:45am
Oct 27, 2011 - 11:46am

Funny no one is  talking

Funny no one is talking about the popping of the T Bond bubble today. Now that is big news as all those suckers who fled to bonds for safety are now going to be fleeing back to stocks!.

T Bonds are going to get ugly until Thanksgiving.

Got TBT? why yes, yes I do.

Oct 27, 2011 - 11:46am

New Forum Topic

Please read and vote!

We have all the groupies we need - now for something completely different - moderators take note.

Dr G
Oct 27, 2011 - 11:47am

She's going to $36 quickly.

She's going to $36 quickly. Where she is at right now, $34.80, should offer some small psychological resistance. Over that and it's to $35.80.

Oct 27, 2011 - 11:47am

SLV $34

SLV $34

cpnscarlet Shill
Oct 27, 2011 - 11:48am

@Shill - never thought I'd

@Shill - never thought I'd see 2.3% again! Doesn't this mean Bill Gross may be a three-time loser!!!

Unfortuantely, I need about 3% to get back in TBT where I need to be.

Oct 27, 2011 - 11:50am

Helluva call Turd...

1730 got slaughtered like the POSX! After lessons learned this summer, I'm still cautious when I see this stuff now. Can't shake that feeling that the carpet is about to get ripped out from below me by the EE, if ya know what I mean?

Silver Eagle
Oct 27, 2011 - 11:56am
Oct 27, 2011 - 11:59am

@Shill - never thought I'd

@Shill - never thought I'd see 2.3% again! Doesn't this mean Bill Gross may be a three-time loser!!!

Unfortuantely, I need about 3% to get back in TBT where I need to be.

3%? Your going to wait that long? Interesting. Anyway, don't think for one moment Gross was not talking out of both sides of his mouth. Gross is a big money man and an insider, I am sure this was a case of do as I don't not as I say.

Silver Eagle
Oct 27, 2011 - 12:00pm
Oct 27, 2011 - 12:03pm

@ Resistance levels at 35,10 and 44,15 on silver

Not for long. Resistance levels can be thrown out the window after the most recent takedown IMHO.

Silver Eagle
Oct 27, 2011 - 12:04pm

Resistance levels at 35,10 and 44,15 on silver

Sorry for both the preview message. I'm new here and trying to figure out how this works :)

This time this should be good.


Oct 27, 2011 - 12:05pm

DPH is a plant, just not the

DPH is a plant, just not the EE kind.

Oct 27, 2011 - 12:08pm

Head Fake

Be very careful on this mini rocket ride.......Nothing really got fixed across the pond. Euro pumping when it's getting devalued at the same time....we have seen this game several times.

Oct 27, 2011 - 12:08pm

Tis the season

to see the monsters in the closet. This is MSM kicking in?

SilverFocker Shill
Oct 27, 2011 - 12:14pm

Sticky Skunk

Selfish...that ain't right.

Bay of Pigs
Oct 27, 2011 - 12:14pm


The NY FED, which is the main hub and power center for the Federal Reserve System itself, is led by William Dudley. He most likely has as much power and influence than Ben Bernanke himself. So why pay attention to him? Well, his chief job is to protect the FED banks and the power they have. He says he'll do "whatever it takes" to do that. That is why QE depends on his words and actions and not on your charts.

Seriously, if you need to ask that question of someone like me (a nobody), I'd suggest you get a copy of The Creature from Jekyll Island and get up to speed. You'll find all the answers to those questions in there.

Good luck to you, and in fairness to TF and the main board, I won't be talking to you again here. PM me if you want to discuss anything going forward.

Oct 27, 2011 - 12:14pm


Mother Nature.

I feel like I really need a walk but I can't put my finger on why....

WYO Silver
Oct 27, 2011 - 12:15pm

Jim Willie

Has there been any discussion of Turd doing a podcast with Jim Willie? I like the Contrary Investors Cafe interviews with Tekoa, but he usually just lets JW run solo for most of 45 minutes or so. Turd could guide the conversation more along lines of what he and TurdNation would like to hear from the man.

How about monthly or bi-monthly?

Oct 27, 2011 - 12:18pm

anybody else trying for that 25th Ann. Set of SAEs? getting crushed it seems. Lots of timeouts/proxy errors.

Premium is way high on these sets, ~60/coin, but, I think would be a nice numismatic collectors' set years on from now.

Oct 27, 2011 - 12:21pm

Gettin' ready to get in on some AU Calls b4 we take off

Holding for pattern confirmation!

Best Gold Miners For The Next 12 Months
by Insider Monkey

AngloGold Ashanti (AU) is a company that engages in the exploration and production of gold. While it does mine other precious metals, like silver and uranium oxide, gold is its primary business. As of December 31, 2010, the company had probable gold reserve of over 71 million ounces. John Paulson owned over $1.68 billion in AU at the end of the second quarter. Many other famous fund managers, such as Jean-Marie Eveillard, John Thiessen, and Louis Bacon have bullish positions in AU as well. read more

More on AU: AngloGold Ashanti: One Gold Mining Stock You Must Own by Bret Jensen AngloGold Ashanti's CEO Discusses Q2 2011 Results - Earnings Call Transcript AngloGold Ashanti's CEO Discusses Q1 2011 Results - Earnings Call Transcript
Oct 27, 2011 - 12:25pm


Looks like $24 silver isn't coming our way after all. What a shame.

R man J
Oct 27, 2011 - 12:25pm

Faith in Silver

OK put away the charts and answer with your empirical knowledge of world conditions, physical supply/demand, banking, fiat creation, etc.

When silver was knocked down from $42 to $32 in one week in September did you look at $42 as the more correct price?

If silver were to gain back that $10 and go to from $32 to $42 just as fast in one week would you be looking at $32 as the more correct price?

My point: If it goes quickly to $42 and then you short it, your faith is in the lower price. Every time it takes off you will short it and bad mouth it. Eventually it will find its correct price and stay there, and your short bet will be a losing bet.

Oct 27, 2011 - 12:27pm

Hope you didn't bet the farm

this quote is from Harvey Organ from yesterday:

"The price of gold rose today to $1722.00 up a cool $23.10. Silver did not perform well at all today as the bankers kept it at bay. It rose by only 26 cents to $33.29. The gold/silver shares were also heavily shorted. Thus with the banking cartel leaning on both silver and the banking shares you can bet the farm that we will have a pretty good raid tomorrow."

. . . of course, today is not over yet!

Oct 27, 2011 - 12:28pm


I can appreciate your viewpoint and your beliefs. I'm not a war monger. Just a realist from this side of the fence conveying certain news from many, many sources.

I get where your coming from and the implications of war and the weaponry on citizens that live in those areas and that are affected. I get it. I however, will not stick my head in the sand and wish something away because it's ugly. I would be willing to bet that those who you feel are victimized by war (and rightly so) are the same people who you might wish had the same arsenal to use against those who now have it. I'm pretty sure that's rationale. What would the difference then be?

It's as simple as that. Mankind has always looked for a advantage over other tribes/countries and for the most part inflict their superiority in whatever area's it might be and they will continue to do so. Am I right about that?

As far as me being for the EE having a strong ally here, c'mon, get serious. If you don't like what I roll out here then IU me or scroll by or just state your position like you did. The comment you made where you took a little slap at me... I read it anyway and responded genuinely to it. No anger or animosity here.

I'm no EE plant or whatever some of you might think. Get over the fascination and IU me and move on. I did so with you awhile ago and just peeked because I had a feeling. I guess I was right and expected it.

Later on, fellow Turdite.

Getting into a cut and paste with me will be a no win situation and brings absolutely nothing to the thread except whining about previous posts.

The end.

Oct 27, 2011 - 12:28pm

$35.10 gone

Spot Ag is presently @ 35.21.

Anyone know why the link is showing instead of the actual image??

Oct 27, 2011 - 12:29pm

Ag up 5+%

Ooooh, now that's shiny! I need my Sunnies!

Oct 27, 2011 - 12:31pm

This is the stuff that scares me-hyperinflation

I was in Peru for a month in Apr-May 1986. When I first arrived I bought sole and intis from a money changer and got a wad of cash to go spend. I don't remember the rate of exchange, but 2 weeks later I went and bought more. I was surprised at how long the first tranche lasted, and the second tranche was a surprise too. I received approximately 30% more in peruvian money. Of course 2 currencies were involved, but the inflation was happening, and my US dollars were in demand, so that I could have not bothered with the exchange except at official places.

A good blog post here;


Donate Shop

Get Your Subscriber Benefits

Exclusive discount for silver purchases, and a private iTunes feed for TF Metals Report podcasts!

Key Economic Events Week of 3/18

3/19 10:00 ET Factory Orders (Jan)
3/20 2:00 ET FOMC Fedlines
3/20 2:30 ET CGP presser
3/21 8:30 ET Philly Fed
3/22 9:45 ET Markit PMIs
3/22 10:00 ET Existing Home Sales
3/22 10:00 ET Wholesale Inventories (Jan)

Key Economic Events Week of 3/11

3/11 8:30 ET Retail Sales (Jan)
3/11 10:00 ET Business Inventories (Dec)
3/12 8:30 ET CPI (Feb)
3/13 8:30 ET Durable Goods (Jan)
3/13 8:30 ET PPI (Feb)
3/14 8:30 ET Import Prices (Feb)
3/14 10:00 ET New Home Sales (Jan)
3/15 8:30 ET Empire State Manu Index
3/15 9:15 ET Cap. Util. & Ind. Prod.

Key Economic Events Week of 3/4

3/5 9:45 ET Markit and ISM services PMIs
3/5 10:00 ET New home sales (Dec)
3/6 8:30 ET Trade Balance (Dec)
3/7 8:30 ET Productivity and Unit Labor Costs
3/8 8:30 ET BLSBS
3/8 8:30 ET Housing starts (Jan)

Recent Comments

by HappyNow, 13 min 41 sec ago
by Turd Ferguson, 15 min 45 sec ago
by Dr Jerome, 23 min 14 sec ago
by -SilverIsMoney-, 1 hour 24 min ago