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 ()


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?

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....

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Key Economic Events Week of 10/14

10/15 8:30 ET Empire State Fed MI
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Key Economic Events Week of 9/30

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10/2 China Golden Week Begins
10/2 8:15 ET ADP jobs report
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8/14 10:00 ET Business Inventories
8/15 8:30 ET Housing Starts & Bldg Permits

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