Starting Tuesday

Tue, Dec 13, 2011 - 10:02am

No time for a complete post this morning but there are several items to which I'd like to draw your attention.

First of all, The Turd is like most everyone else...I enjoy a little notoriety. Someone emailed me a notice that I had been mentioned in FOFOA's latest column. Naturally, I went to the site and read it. It turns out that this is a very good piece and something you should definitely take the time to read.

The article makes several references to Santa's recent interview on KWN. Again, if you haven't yet taken the time to listen, I strongly encourage you to do so.

After the $50 drop yesterday, let's all be on the lookout for the OI numbers when they are reported this afternoon. If what I suspect is correct...namely that the "MFG Rehypothecation Awareness Program" and strongly negative lease rates were to blame for yesterday's drop...then I would expect to see a drop in OI on the order of 5000-10000 contracts, maybe even more. Why, you ask? The Cartel short position probably finished flat to down a little, day-over-day, as the new shorts that were added at the open yesterday were covered late in the session as gold moved off of its morning lows. The spec long position likely declined considerably for the reasons discussed back on Sunday night. Namely, in the wake of the "MFGRAP", why would anyone own paper metal???

One more thing on OI. Harvey has been drawing attention to the growing OI of the Dec11 contract:

"In another shocker, the front delivery month of December mysteriously saw its OI rise from 1356 to 1545 for a gain of 189 contracts despite 276 deliveries on Friday. Thus we gained 465 contracts or 46,500 oz of gold standing."

This is a very intriguing development and must be watched closely. As I understand it, to "jump the queue" at this point and purchase a Dec11 contract, an entity must immediately put up 100% margin with the intent to take delivery. To add 465 contracts this late in a delivery month is highly unusual. That's about $79MM in gold that someone is trying to buy, and take delivery of, as soon as possible...not wanting to wait for February. A very intriguing development, indeed.

More later. Be safe. TF

p.s. Several folks have asked me for a crude oil chart. Here you go.

And I forgot to include this. More fuel to the reports of US troops in Jordan. Do you think Assad believes they are "defensive" in nature after seeing Afghanistan, Iraq and Libya fall? What are the chances he just idly sits and hopes for the best?

About the Author

turd [at] tfmetalsreport [dot] com ()


clueless one
Dec 13, 2011 - 10:51am


Just contacted my LCS..

ASE's at $37ea. They've been really good, usually very close to the internet prices until lately, less shipping, of course.


Looks like you'd better suck'em up as cheap as you can find them...or whatever you can find for that matter. No waitin around for that sub $30 metal...they ain't gonna give it away. The word is spreading fast...almost as fast as the Euro is falling!!! Have u seen the 1min chart ???



Dec 13, 2011 - 10:51am
Dec 13, 2011 - 10:52am
Frankenstein Government
Dec 13, 2011 - 10:54am

Turd Has Been Freaky Right Lately...

I've been truly impressed by your insight lately TF. I've been waiting to pull the trigger on another 150 oz. silver and a few more ounces of gold. Still think silver due for an incredible run after this correction is over.. I will not be waiting until Italy has to refinance that 300 billion in debt this Feb.

Dec 13, 2011 - 11:05am

Euro @ 1.30...interesting.

Euro @ 1.30...interesting.

Dec 13, 2011 - 11:07am

The Judge and Beck

First of all, I think by now you all know that The Judge's program is the only show on TV that I regularly watch. Though I'm not a strict Libertarian, The Judge is and he's consistent about it. No waffling and no wavering. I like that a lot.

Back on Friday, The Judge had two segments with Glenn Beck. The first segment is the best. I found a couple of items in segment 2 that I didn't necessarily agree with. Regardless, this is worth your time to watch.

Note: If, after watching, all you're going to do is spout your hate of Glenn Beck then I encourage you to NOT watch this clip and simply move on.

Also, for anyone interested, I'm currently about halfway through "Being George Washington". I recommend it.

Dec 13, 2011 - 11:19am


POSX over 80 means even more pressure on gold and commodities, in general. Take a look at Trader Dan's CCI chart from yesterday.

I recall mentioning some time ago that this looked like it could go to 500. Looks even more likely with the POSX at 80+.

Be Prepared
Dec 13, 2011 - 11:19am

Hear the Train a Comin'

I hear the train a comin'
It's rollin' 'round the bend,
And I ain't seen the sunshine,
Since, I don't know when,
I'm stuck in the FEMA Prison,
And time keeps draggin' on,
But that train keeps a-rollin',
On down to San Antone.

Dec 13, 2011 - 11:19am

The Money Masters. This is

The Money Masters. This is one of the most important videos dealing with the crisis as a whole:

It was released in 1996, warned of the crisis that arrived and offers a solution to our debt based monetary system.

Yes, it's long but well worth the time!

Dec 13, 2011 - 11:27am

Thanks TF.

Seems to Me, this que jumping is bullish, kind of make "reports of bulk above spot" all the more credible.

Great Work, TF.

Que jumpers, got me thinking, if Comex is primarily a paper vs. physical exchange.

As per its own rules, can settle with shares of a similar commodity ETF, or shares of GLD, might this increase in Dec's gold contract be a play to get large holdings of GLD Shares?

To convert GLD Shares to Physical, as per the prospectus is possible, but difficult for anyone but, Authorized participants, and holders of vast blocks of shares.

Is someone getting bullion out of GLD?

Seems bullish to Me but WTFDIK

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