Thu, Jan 5, 2012 - 10:31am

In a move that should have come as no surprise to anyone around here, gold and silver were both poached overnight in London. Gold had reached 1625 so it had to be put down. And so it was.

Then, the Always Dumb & Pandering (ADP) Report came out at 8:30 and showed an increase in payrolls for December of 325,000. Below is an approximation of my reaction when I read that headline:

Baby Laughing Hysterically at Ripping Paper (Original)

At any rate, the damage has been done and now the metals must search for support levels from which to bounce. Let's hope we find some support near the lines I've drawn below:

Again, I just don't get the feeling that we've seen the true bottom yet. We might have but, even if we haven't, I know we are close. I just have this gut intuition that The Cartel isn't quite ready yet to take their collective foot of off the necks of the remaining specs. Let's keep watching the OI in gold and the CoT in silver. We'll find our clues there. Until I feel the bottom is in, gold risks a drop back toward the lows of last week and silver could still fall toward 25-26. If looking to trade or buy, be patient.

Just a couple of other items. My brother-in-law sent me the link below. I think you'll find it interesting and, frankly, quite sad:


While on that goldsilver page, I found this video. Maybe it will cheer you up. Not that the content is pleasant but it is presented in an amusing fashion:


Lastly, another article from the oldie-but-goody file. This one is from January 2009 yet it is certainly still relevant today:


OK, that's all for now. As I research and read, I am becoming increasingly optimistic of a big, huge year in the metals, particularly silver. When the time comes and my confidence has increased enough, I will post all of my thoughts in detail. Until then, keep the faith.


About the Author

turd [at] tfmetalsreport [dot] com ()


Jan 5, 2012 - 10:32am



Jan 5, 2012 - 10:33am



Jan 5, 2012 - 10:33am

who knows what #

1, 2,3 ?

Jan 5, 2012 - 10:35am

Pretty Much Metal

Are the way to go. Just got to way everything up. Would you rather have dollars or stuff / something real.

Also in times like this, it really can't hurt to be diversified into other area IMO


Jan 5, 2012 - 10:37am


I met a traveller from an antique land
Who said: "Two vast and trunkless legs of stone
Stand in the desert. Near them on the sand,
Half sunk, a shattered visage lies, whose frown
And wrinkled lip and sneer of cold command
Tell that its sculptor well those passions read
Which yet survive, stamped on these lifeless things,
The hand that mocked them and the heart that fed.
And on the pedestal these words appear:
`My name is Ozymandias, King of Kings:
Look on my works, ye mighty, and despair!'
Nothing beside remains. Round the decay
Of that colossal wreck, boundless and bare,
The lone and level sands stretch far away".

Percy Shelley

Jan 5, 2012 - 10:37am


...for the thread and a very happy and innocent infant laughing it up.

It made my day....so far.


Be Prepared
Jan 5, 2012 - 10:38am

Nth Place

murphy - You hit the nail, my friend. There are No Numbers in the Financial World that exist which should believed as they are presented. Each story, each fact and each number twist in convoluted paths based upon hundreds of different machinations to deceive...to thwart...to hide....to abscond. We are stuck, though, operating within this meme (at least for now) and so these numbers can in some ways reflect the back path and forward trajectory. But, maybe, sometimes it feels like these freaking numbers are the only thing to hold onto in an insane world.

Repost - Didn't see the new thread...

Jan 5, 2012 - 10:40am


Not sure if this was mentioned Turd but Reagan did not stand down for Ford in 1976. Ford was a sitting President seeking re-election after finishing Nixon's second term.

Dr G
Jan 5, 2012 - 10:40am

Rickards, who has been

Rickards, who has been spot-on in most of his calls (especially those that are currency/Fed/ECB related) has said that formal QE3 will come when the EUR/USD falls to 1.27 area. It is at 1.281 after today's huge drop. Patience. It is inevitable that they print in secret and in the open.

Jan 5, 2012 - 10:43am

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