Getting Caught Up

Fri, Feb 3, 2012 - 10:53am

After yesterday's nefarious activities, I had hoped to create a lengthy, comprehensive post for you this morning. The BLSBS has gotten in the way and, since things are moving so quickly, I figured I'd better just post what I have and worry about going into detail over the weekend.

Before we get started, thank you all for your patience in dealing with the nonsense of yesterday. The attacks continue today but Ron and Stephanie have battled through the night (seriously, I don't think that either of them slept) to get the site back up. Their efforts are greatly appreciated and, since their efforts aren't inexpensive, all of those who have donated to the "TFMR DoS Defense Fund" are greatly appreciated, as well. We don't know for certain who is behind these attacks but we have our suspicions. I, for one, would like to bring in the FBI and/or Interpol but, apparently they're a little busy. Maybe we can simply organize some type of TFMR Goon Squad to go have a "visit" with the perpetrator. wink

OK, first the BLSBS. All you really need to know can be found at ZeroHedge. (What else is new?) Go there to find the truth. Here is just one of the links:

Additionally, in the spirit of seeking the truth through the manipulation and the propaganda, you are really going to enjoy the next podcast. I recorded it yesterday and it is quite timely. It will be posted later this afternoon so please be sure to check back later or over the weekend.

Here are the only charts that matter. When reviewing them it is critical that you remember this:

I am diligently following the daily changes to open interest in the precious metals. In doing so, it has become quite clear that there is very little, regular trading left in the PMs. All we have are The Cartel and the EE alternately covering and adding shorts as well as some HFT WOPRs that swing back and forth depending upon which way the POSX is moving. This is a double-edged sword.

  • This makes movements in the PMs even more easy to predict than usual.
  • This also brings significantly greater volatility which can wipe you out fast if you're not careful.

Anyone attempting to trade (and I do not encourage it) must trade cautiously and use well-defined stops.

To that end, let's start with the POSX charts. It looks like The Pig has, in fact, found a short-term bottom this time. I thought it had double-bottomed at 79 earlier this week. Instead, it has formed a rounded bottom. Nevertheless, you can clearly see on the one-year daily chart that 79 functions well as a technical support least for now. I still have a hunch, however, that Pigatha will soon head even lower, toward 78 and maybe even 77.


Next is gold. Unfortunately, the trend from last Wednesday's FOMC minutes is now broken. Oh well. It had to happen sometime. As you can clearly see, however, gold could fall quite a ways from here and still NOT violate its trend from 1/1/12. In the end, all is well. QE is going to infinity. BTFD.


Lastly, silver might actually be in a tradable position. Maybe. I still think that the real Battle Royale will be at 35-35.50. IF that's the case, then it may be possible to trade some March calls from 33.25-50 up to 35-35.50. Maybe. Again, trade at your own risk and be on guard for some nasty volatility, to the UPside and the downside.


OK, I'm going to stop there, cross my fingers and toes, and pray that when I hit "SAVE" that this post actually appears on "Main Street" and simply doesn't disappear into the ether. Thanks again to all who have donated in support of the Tech Team and security improvements. Be sure to check back later this afternoon or over the weekend for a great and timely podcast. Have a fun day!! TF

About the Author

turd [at] tfmetalsreport [dot] com ()


Feb 3, 2012 - 10:54am



Feb 3, 2012 - 11:01am

Six Year Old Wants Silver

Thankful for the little BLSBS beatdown this morning. My six year old son has saved 34 dollars to buy his first ounce of silver and anything over would come out of daddy's pocket. Thank you EE!

I am overjoyed that my six year old son would rather buy silver than plastic toys. If anything good comes of this economic turmoil it's that my son is learning, at a very early age, the value of precious metals and the BS of inflated fiat money. I know he'll be fine.


Feb 3, 2012 - 11:01am

the metals will surge in the moments right after the numbers are

Yes, surge they did, right down the plug hole! I suppose with hindsight what was going to be good for the stockmarket was going to be bad for the PM.

Feb 3, 2012 - 11:03am

Glad the site is back up running

yesterday was a very lonely day.

Still can not go to some forums, but at least can open the main page now.

Feb 3, 2012 - 11:04am

Thanks Turd

Have a wonderful weekend, we are expecting snow in the UK although whether that will hit what Sarkozy described as 'The UK's offshore financial centre' (ie London) remains to be seen.

Q Churchill

"Most people, sometime in their lives, stumble across truth. Most jump up, brush themselves off, and hurry on about their business as if nothing had happened."

Feb 3, 2012 - 11:04am

Second! err... Fourth... <sheepishly walks off...)

It looks like a nice time to buy right now on this dip (?), if one believes Feb isn't going to be a down month after the strong Jan month. Thoughts?

Feb 3, 2012 - 11:05am

You call this a PM sell off ?

We laugh in your silly clown face ! I, me and Monedas 2012 Independent Market Observer

Feb 3, 2012 - 11:08am

Don't worry

Just a trial run before BO throws the internet kill switch and takes down everything.

Feb 3, 2012 - 11:08am


the line in my jan trendline minus pre FED meeting hiccup


people dropping out of the workforce does not mean gold is worth...........less.........i said.

Feb 3, 2012 - 11:08am


I just know she turned her HFT algorithm into a LOIC just to DDOS the heck out of you. Sick Anonymous on her!

Feb 3, 2012 - 11:11am


Just got back up on Firefox! ;)

Feb 3, 2012 - 11:11am

Ah...I missed Turdville!

I felt naked... This market makes me feel like a junkie.. and T town is my methadone! Have a kickin weekend Turd and all Shout out to the mods... THANK YOU ALL! I feel stable again.

Feb 3, 2012 - 11:14am

Employment Report: Blatant And Outrageous Lies

There are times when one questions a report as possibly being wrong or in error, and then there are times when one has to raise a flag and say "This is an intentionally false picture being presented by a government agency."

I'm in the latter camp with this one, and it is rare for me to brand something as not possibly wrong and in error, but intentionally fraudulent.

Feb 3, 2012 - 11:15am

Thanks, Turd...

for having an awesome tech team.

Lies, fraud, propaganda and manipulation. What a wonder-filled government and economy we have--people around the world must look at us in amazement.

Feb 3, 2012 - 11:16am

gotta gotta gotta

Feed the Turd. I hope they don't chase the Turd out of the US like they did the Golden Jackass.

Maybe we all should just hit the effing road.

Bay of Pigs
Feb 3, 2012 - 11:17am

London price fixing

Even Gartman is starting to notice ten years later.

"Well, the data and charts on the London a.m./p.m. gold bias that I have been going on about for the last three weeks or so, was picked up by two of the most respected/well known U.S. gold analysts yesterday...John Brimelow and Dennis Gartman. Here's what Dennis had to say in yesterday's edition of The Gartman Letter...

"Finally, our friend, John Brimelow, wrote a most interesting piece yesterday that we thought worthy of reporting here this morning. John wrotegiving “aid and comfort” to the conspiratorialist crowd but being interesting nonetheless… that "The recent discussion of the contrast between the systematic selling between the AM and PM fixes (tantamount to selling in the early NY floor session) and the tendency to overnight firmness has been well illustrated by a graph published at Ed Steer’s Casey Research commentary today (see attachment). Steer adds...“For the month of January, the overnight bias showed an increase of $169...or 10.4%. The London intraday bias was -0.02%. So here we have one of the biggest bull market rallies in January in recorded history...and the cumulative move during the 4.5 hour intra-London trading hours during January was actually negative. This is Anglo/American price fixing scheme laid bare.”

"We are not conspiratorialists here at TGL and we find the “energy” expended by those always trying to prove conspiracies to be a great waste of mental capital that could be better used elsewhere. That said, this is interesting nonetheless. As they say, “Timing is everything.”

Neither John nor Dennis would have reprinted this if they didn't know it to be true and, true to his nature, Dennis had to hedge his approval by patronizing all us 'conspiracy theorists'. But he at least spelled my name right!

I met John Brimelow at the GATA conference in London last August...and he is every inch the reserved English gentleman. I met Dennis Gartman at a David Tice-sponsored cocktail party at a gold conference in New Orleans several years back...and as long as he's got a couple of drinks in him...and no TV cameras or a microphone nearby, he's a real fun guy to be around.

What I didn't include in my commentary that both John and Dennis referred to, was the actual a.m./p.m. London gold fix data itself. Nick Laird suggested that I post it for all to see...and here it is."

Feb 3, 2012 - 11:20am

site attacks

FINVIZ has been down all morning. Some of you are reporting ZH was down, and now they attack this site. Somebody has a serious problem with alternative media.

On the other hand, there's a lot of common users between the sites, and attacking Turd during the month he plans to start his subscription service seems too much of a coincidence to me. This has to be either a competitor or a former reader who got booted.

Feb 3, 2012 - 11:24am


if you go over to cnbc, you note that santelli sited zerohedge reporting the misrepresentation o fthe numbers, etc. im sure that helped drive a lot of traffic

Feb 3, 2012 - 11:28am


First of all thanks much for ALL you do! And for getting our cyberhome back and running.

Second, was wondering if anyone recv'd my email regarding difficulties for monthly donation w/out using paypal. Thx again.

(edited: not wanting to add additional work today or the next few days, just wanted to know if you could put it in your back pocket until convenient)

Feb 3, 2012 - 11:29am


Perhaps the alternative media is no longer "alternative" as people become hungry for the truth! Soup up them servers!

Feb 3, 2012 - 11:31am

Thanks TF / Admin

Thanks for the update and thanks to the Admin. for their diligent work.

I hope you nail who or whatever it was that caused the site to go down.

I see the PM's and miners are recovering from that take down earlier. Par for the course.

The Globex should be interesting later and might offer some insight into sentiment.

Feb 3, 2012 - 11:38am

Tin Foil Hat Time

Should have seen this coming.Last week Soros and his buddies all saying blood in the streets riots in the US.Yesterday Timmy and Ben saying they could not rule out a financial event in the future.The markets in europe have been UP almost every day since Soros said things will get worse.

Feb 3, 2012 - 11:39am

Ben & Blythe

Isn't that interesting that our old troll friends Ben Bernanke and Blythe both posted their usual snarky comments on Turd's old site yesterday. Or have I just missed them on the new site since last summer?

Smiddywesson SimplyEconomics
Feb 3, 2012 - 11:40am

Blatently fraudulent reports

There are times when one questions a report as possibly being wrong or in error, and then there are times when one has to raise a flag and say "This is an intentionally false picture being presented by a government agency."

There you have it folks, another canary in the coal mine. If you feel the jobs report was more blatantly false than the other blatantly false reports, you have to ask yourself why? As the end draws near, their actions become more desperate. Why not openly lie if it's all over anyway?

Dr G
Feb 3, 2012 - 11:44am

So if the only trading is

So if the only trading is being done by the Cartel and the WOPRs, then the elusive beast we all know as the FUBM must be dead, or nearing extinction, right?

Dr G
Feb 3, 2012 - 11:45am

@Dr Jerome, I enjoyed seeing

@Dr Jerome, I enjoyed seeing Ben and Blythe cuddling yesterday on the old site. Brought back memories. Also had me hopeful that I could trade some silver today. Hasn't happened thus far.

Feb 3, 2012 - 11:47am

O Joy!

what a beautiful day!

the sky is blue, the sun is shining (although it's -10°C), tfmetalsreport works again... and... the 10-ounce Perth Dragons arrived today!

Feb 3, 2012 - 11:48am
Feb 3, 2012 - 11:55am

Report from the FEMA camp.

Went over to the latrine this morning to get some of those paper toilet seat covers. Thought I would keep a journal while I'm in here in case they discover I have hacked this computer. The woman's camp latrine backs right up to the men's and we discovered we can communicate through the drains in the floor.

It seems that pretty much things are the same over there with a few differences. Their computers only have one icon on the desk top as well, but instead of tfmr it is Zero Hedge. They say they also have the third page of "In Case You Missed It" as live wallpaper.

Instead of a bacon poster in their dorm they have chocolate moose and they were promised chocolate pudding if they can log into ZH. Dang I love pudding!

The woman saw those containers out in their yard this morning and they went out early and filled them with dirt. They are planting tomatoes now. Seems like it might be a good idea.

We are promised a movie tonight. It's title is "Beginning Your Re-programming. Lesson One". Sounds like they are going to teach us how to work with computers. Right?

Feb 3, 2012 - 11:59am

Silver prices in Asia

I would like to report something rather interesting. I've bought all my silver in Korea. As we all know the international price of silver is priced in USD per ounce using the cartel controlled crimex as the primary price discovery mechanism. In Korea, silver is not sold in ounces but rather sold in units of 3.75 grams. However, the price of silver and gold in Korea is directly influenced by the crimex.

Now here is the interesting part: I have been watching silver prices in Korea and the crimex everyday for the past year and there is a very close correlation in price. Meaning, if silver in USD is trading at $30, the corresponding Korean price is about 3.00 USD per 3.75 grams. If the price of silver in USD is trading at 37 dollars, the corresponding price in Korea is about 5.00 USD per 3.75 get the gist of what I'm saying. Anyhow, I've noticed recently that this relationship in prices has changed. In Korea, you now have to pay an additional 10 percent premium. Meaning, if the silver price in USD is $30 you now have to pay 3.3 USD per 3.75 grams and if the price of silver in usd is trading at 37 dollars you have now have to pay 5.50 usd per 3.75 grams. So the spread between buy and ask has increased by 10% each!!!

I have 5200 ounces of silver so this is great news for me.

Now, I have a question for my fellow turdites....there is a good possibility that I will receiving 100 thousand dollars at the end of this month. I already own 5200 ounces of silver..should I buy 100k worth of more silver considering that premiums have increased 10% or should I diversify and buy gold instead. Thanks.

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