Getting Ready For a Big Week

116
Tue, Jan 17, 2012 - 11:04am

Sorry for the late update this morning. Lots going on in my personal Turdland and I'm just now getting an opportunity to post some charts. That said, we are off to a great start and this week may become rather consequential as we go along.

When I say "great start", I'm referring to the action before the Comex opened. As you can see on the charts below, once the Comex opened, The Cartel acted swiftly to cap gold at 1665. They got a little help from a rallying POSX, which tripped a few WOPRs and pushed things down a bit. No matter. I like these charts a lot. The cap at 1665 looks to fail soon, maybe overnight tonight. Gold will then move toward 1680 and the real battle will begin.

Silver is being aggressively capped by the EE at the area around 30.50. Why they've chosen to set up shop there is beyond me. A much more significant battle will be fought around $31. Like gold, I expect silver to soon breach the EE lines and head in that direction.

As noted above, I think the stage is being set for a very big and consequential week. I want to see where we finish the day today before making any bold proclamations, however. Check back this afternoon and I'll go into greater detail and provide you with some more charts. TF

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  116 Comments

Strongsidejedi
Jan 17, 2012 - 11:07am

Thanks Turd

I appreciate your comments (and it looks like I must bow to the Fjords).

Glad to see the Fjord man here.

Fr. Bill
Jan 17, 2012 - 11:08am

The coveted ...

... Turd position!

Jan 17, 2012 - 11:11am
Ubergrinch
Jan 17, 2012 - 11:12am

I bet I've been right this whole time...

...and I should have bought my silver all at once four weeks ago instead of scaling in. I'm still too much of a newb to fully trust my own instincts, though.

Jan 17, 2012 - 11:12am

First!

I'm first! I'm happy as can be

I managed to post initially.

For those who think this practice weak

I invite you to kiss my left-most cheek.

(and it is, by far, my best cheek)

edit: And for those who insist on content with your "first" post, I submit to you the following photograph, allegedly taken at the beginning of the "Million Turd March" on the Federal Reserve. 33 Liberty was never classier, I'm told.

The Doc
Jan 17, 2012 - 11:13am

Physical gold clearing at $230 premium to paper

Turd- Jim Willie confirmed what your source told you a few weeks back- Willie told me that his best source states that large physical gold purchases (we're talking near the $100 million range) are clearing at a $200-$230 premium to prevailing paper prices.
you have to pay very little attention to COMEX, it might show $1730, but I could show you lots and lots of sales in the multiple millions of gold in the $1950 range. So there was a $230 premium for physical.


He's not sure whether we'll have a big year in gold or silver or not- states it will depend on how many more theft's we see such as MF Global or Libya. He also believes MF Global won't be an isolated event.
Got Phyzz??

Full interview below including the transcript.
https://silverdoctors.blogspot.com/2012/01/jim-willie-large-physical-gol...

Thanks for all your great work Turd, keep it up!

-Doc

Desert Fox
Jan 17, 2012 - 11:15am

Lurker Coming Clean

Probably as high up on the totem pole as I'll get so I've got to say Hey to the board and a Big Thanks to The Turd and all the great information available here on a daily basis.

You guys rock!

Jan 17, 2012 - 11:16am
Ubergrinch
Jan 17, 2012 - 11:18am

no no no

there us nothing wrong with "scaling in."

That is the smart way to do it.

Northern Border
Jan 17, 2012 - 11:24am

The Second MFing Global just happend.

Not sure what is going on or if this has been verified but the Next MFing Global just happened in Canada with Barret Capital management.

https://www.zerohedge.com/news/second-mf-global-unveiled-canadian-regulator-accuses-barret-capital-commingling-client-funds

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