The Unrelenting LegHounds

187
Thu, Jun 7, 2012 - 11:21pm

I was ready to call it a night when I saw it. Felt I should start a new thread because of it.

I'm speaking, of course, of the $23, 2-minute shockwave that hit the Globex at 10:21 pm EDT. This, of course, is normal action for late on a Thursday night. Nothing strange, at all. <heavy sarc>

The main thing you need to know is this: We have ourselves another coordinated takedown of the metals, just like Leap Day. The action on the Globex both this afternoon and tonight confirms that the "LegHounds" are far from finished. They've constructed this selloff in order to help themselves continue to cover as many additional shorts as they can. When the gold broke out on Friday and silver yesterday, they weren't ready. Though the last CoT showed a 75% reduction in the EE silver net short ratio, they were still imbalanced by over 14,000 contracts. Today's action and the action to come is helping to rectify this, of that you can be certain.

Again, all I ask is that you remain patient. Please continue to use this and any additional bouts of weakness to gradually add to your stack and prepare for what is coming.

Gold is already $15 off the lows of last hour so let's see if price is brought back up into the two London physical fixes. Once we get past 10:00 am EDT, however, make sure you're wearing long pants. The LegHounds will likely return with a vengeance.

TF

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turd [at] tfmetalsreport [dot] com ()

  187 Comments

NW VIEW
Jun 7, 2012 - 11:23pm

Mr..T.F.

Time to sleep

ThoughtCriminal
Jun 7, 2012 - 11:25pm
Stoxxman
Jun 7, 2012 - 11:26pm
survivalwstyle
Jun 7, 2012 - 11:26pm

thurd

mr f. thank you again for this. kEEp the faith. peace.

FleetFeet
Jun 7, 2012 - 11:27pm

Glad you're up and working!

Now, let's all get a good night's sleep.

Turd, you're doing a great service. But don't let it run or ruin your life. Gold and silver are going to do what they do, and the crooks are going to do what they do, and the rest of us are best off laughing and taking care of ourselves as best we can.

Nobody, but nobody, can actually know what tomorrow brings.

Jun 7, 2012 - 11:29pm

I should add

I just got an email from an astute Turdite who was trading when it happened. VERY INTERESTING!

It seems all bids were pulled at the exact moment 1750 contracts were dumped. Blatant manipulation.

I'll see if I can get more by the morning.

Be Prepared
Jun 7, 2012 - 11:30pm

Walk Your Own Path, Turd, my friend...

Walk Your Own Path.... Just like You've always Done

Turd, it has been hard for you to take on the leadership you have so selflessly given in establishing this site and putting your thoughts in posts for all to see...... and we all love you for it! You have fostered a unique community and the richness of opinions that exist on this site is like none other anywhere on the web.

Know what you Know and Do what you Do. Yes, the charts you provide may not always nail tomorrow's direction, but they are, at least for me, designed to make me think and to peer into the market. I don't think you should abandon them all together, but follow your heart and trust the direction you think will help the community to grow. I do think there are more people to reach and I know that you make a difference to new "turdites" every day.... you may not know it or hear it, but the difference you are making is still true and bright, my friend. Thanks for all you do...

bernard
Jun 7, 2012 - 11:36pm
R man J
Jun 7, 2012 - 11:40pm

ounces in possession

The prices have changed, but the physical is still measured in ounces. There is only so many. They can't be created.

ReachWest
Jun 7, 2012 - 11:45pm

Stack-On

Keep the stacking going - this blatant take-down indicates they are becoming desperate. IMO.

June is proving to be a most interesting month.

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