The Bots and The Cartels Simultaneously Attack

Wed, Feb 29, 2012 - 11:58am

First of all, I greatly apologize for the site being down yet again. I enrolled yesterday in the site "Alexa" with surveys the site and measures the traffic. Perhaps the overload of traffic that is crashing the site is due to an initial Alexa survey? Maybe. Of course, when the crash of the site coincides perfectly with a crash in gold and silver, it sure makes me wonder. The reason given for the smash of gold and silver is the testimony of The Bernank. Hmmmm. Of course, stocks aren't down very much. Hmmmm.

Look, Santa has warned us repeatedly that there is extreme volatility coming. Today's action is certainly a part of that trend. If you can't stomach the volatility, I suggest you completely avoid trading and only use the big dips like today for adding to your stack. That said, I guess we now know what the EE has been planning to do with all of their leased silver. Lost in the madness of yesterday was a drop in the 1-month rate to -0.48%. Since we've been discussing this possible "raid" indicator here for weeks, today's drop should really come as no surprise. Additionally, we should have anticipated this today because, after silver broke cleanly through The Battle Royale line yesterday, it was poised to accelerate toward $40+. A desperate EE clearly decided that today called for desperate measures.

Let's see now if $34-34.50 can hold. I suspect that it might not. $33 will be a possible floor as that is a significant level and it would represent a roughly 10% drop from the highs of yesterday. Even $31 is not out of the question, though.

Gold is getting punished, too, but should find a solid floor between 1680 and 1705.

Please be patient and try to keep your wits about you. Silver is going much, much higher from here. Later this week, we will discuss some extraordinary, new fundamentals that will drive prices. I know it's tough but try to hang in there and enjoy the ride. TF

About the Author

turd [at] tfmetalsreport [dot] com ()


S Roche
Mar 1, 2012 - 9:41pm


Good case Turd, well argued...but what have you got against Tasmanians to punish them like that?

Fr. Billcpnscarlet
Mar 1, 2012 - 1:06pm

@cpnscarlet re: "natural causes"

cpnscarlet wrote:
In a culture where the average longevity is 78, you don't "die from natural causes". You may die of some abnormality or congenital defect, but not "natural causes". I'm sorry, this stinks to high heaven and I'll be praying for his family and for God's swift justice.


I suppose it all depends on what you call "natural causes." Looks to me like nature is pretty cranky most of the time, and that it can toss up nasty causes pretty much anytime anywhere with anyone.

All of my mother's seven male siblings died of massive myocardial infarctions (doctorese for "heart attack") before the age of 55. Uncle Walter was 38 when he had his. He was dead thee days later. Most had theirs in their late 40s or early 50s.

Knowing this, I was not surprised when at 48, at the end of an aerobics class I'd been attending for a couple of years, I felt like someone had run a hot poker through my breastbone. I'd been looking for this ... well, ever since I was 38! My familial gene pool, dontcha know.

I was blessed with (1) an ER within 5 minutes away, (2) a fellow aerobics classmate who was willing to drive me there immediately upon my request that she do so, (3) a drug--tissue plasminogen activase, (4) a therapeutic procedure--angioplasty, and (5) a medical device -- a stent, none of which were available to any of my uncles.

They all died. I'm still alive 16 years post myocardial infarction.

So, Breitbart's heart attack (and news reports claim he had heart problems), if he had a heart attack, was not really out of the blue. Early? Maybe, but maybe a doctor here can comment on just how rare that is.

Mar 1, 2012 - 12:19pm

Unfortunately the brightest bulbs...

Unfortunately the brightest bulbs seem to burn the least amount of time, peace to those who tirelessly work at uncovering the truths.

Conspiracy Theory (Official Trailer) (1997)
Mar 1, 2012 - 11:27am

Word Of The Day

Thanks fer the link to Ben's testimony today.

Seems the word that he's stressing is confidence.

Oh, we already have plenty of that. Confidence in silver and gold is high.

edit; in fulfilling last post duties - THERE'S A NEW THREAD!

Mar 1, 2012 - 11:26am

Occam's Razor

Major moves in the precious metals markets, especially when they are "news worthy" events, simply drive tons of additional traffic to related web sites as otherwise apathetic investors, and even regular Joes, decide to wake up. A DOS attack takes at-least some amount of coordination, not that they don't have that level of technical sophistication or computing resources...but I can imagine that those are much better spent running algos. Plus, Anonymous is probably not on their side anyway. A real DOS takedown in much more effective when it's "crowsourced".

Mar 1, 2012 - 11:09am

Breitbart....yeah, right.

Simple statement - In a culture where the average longevity is 78, you don't "die from natural causes". You may die of some abnormality or congenital defect, but not "natural causes". I'm sorry, this stinks to high heaven and I'll be praying for his family and for God's swift justice.

I don't let tweets like those above phase me. In a country of 300M+, a few a-holes are ALWAYS to be expected. If O'bummer dies before me, I'll be waving a flag high, even if I'm in my 90s, and expecting people to ignore me too.

Mar 1, 2012 - 11:03am

@ opticsguy

Re: this was all about painting...

Yeah, it seems unlikely that the timing of the smackdown (not to mention LTRO2 etc...) was simply a coincidence. The whole thing stinks to high heaven. Given this, who is to say the EE doesn't attempt to paint another red candle in March...say around the 20th to be more precise? Although I don't want this to happen, I am fully aware that there could be even more fireworks in the coming weeks. We witnessed similar MULTI-DAY selloffs of the brutal and outrageous variety in both Aug and Nov of last year, remember? Perhaps in the coming days there will be an opportunity to BTFD like there was on both of these occasions last year. As it turned out, these initial beatdowns as I've indicated above were not one and done events and those rallies that followed wound up being deadcat bounces only. In fact, it appears the EE allowed everyone to get back on their feet in the days/weeks to follow and start feeling comfortable again before delivering more severe knockout blows in both Sept and Dec. So, maybe (just maybe) things stabilize over the next little while and chatter of Santa's $1764 angel, $1800+ prices etc starts to make the rounds again? Then, come Mar 20 (when Greece is supposedly going to go belly up officially) the EE trades in their ball peen hammers for wrecking balls and goes medieval on the PM's in an effort to knock prices back BELOW the Dec 2011 lows and f#$k up all these nice charts for the foreseeable future.


Impossible...definitely not.

Mar 1, 2012 - 10:52am


watch out how you badmouth frogs. we have unpublished powers.

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Mar 1, 2012 - 10:47am

Jesse Cafe

"...I have seen reports that 225 million ounces of paper silver were dumped on the Comex in less than thirty minutes.

The last time I checked there were less than 35 million ounces of silver registered with the dealers for delivery in at the Comex.

First day notice is when holders of paper futures give notice to the exchange that they intend to take delivery the silver claims they hold from the Comex warehouse. The amount of paper held is multiples of the bullion that can be delivered at current prices.

The 'tell' is the lack of a serious sell off in equities. The yawning divergence in the risk trade is hard to miss.

This notion that gold and silver are selling off because Bernanke is not going to do QE3 is ludicrous. He does not need to do QE3. The Fed is all over these markets in Operation Twist. Jim Rickards has explained this scenario many times that I have linked here.

What is the answer? Unless you are a full time experienced trader playing with 'cool money,' stop trading. This market is far too thin and given over to gimmicks for the average person to participate. It really is...."

Mar 1, 2012 - 10:44am

Gold market

This last slam down seemed to be fabricated the jack up the price for a week and then try to create a selloff . Same old story next time Ben speaks I will sell the day before and buy after

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