Will Tuesday Be Terrible or Happy?

Mon, Jun 18, 2012 - 5:27pm

Hard to say. Since last Tuesday, silver is relatively unchanged in price and in OI. Gold is up a little in price but OI is up 2%. Chances are that the caps at 1630 and 29 will stay in place, at least for another day. However, since Wednesday is another "Fed Day", we must be vigilant.

Wednesday is, quite obviously, the BIG day for this week. The FOMC meeting begins tomorrow but we won't get anything out of them until a "statement" at 12:30 EDT on Wednesday. For tomorrow, we almost have to be counter-intuitive.

Recall that recently, any formal Fed statement has been met with serious, paper selling. The past several of these beatdowns were preceded by strong UP days the day before as the brainless, momentum-chasing algos were sucked in only to get blown back out by The Cartel the next day. If we get a strong move tomorrow, one where gold finally blows through 1630 and heads toward 1640 and silver breaks through 29, we must expect that its a coordinated headfake by The Cartel.

Look at these charts. For all intents and purposes, gold has been held between 1610 and 1630 for over two weeks. Silver has been held between 28 and 29 for seven, straight days. What a great opportunity, once again, for The Cartels to allow a break out of these patterns. They stand down tomorrow, leak a few QE rumors and let gold break out and suck in some spec longs, just as they did on 6/6. That way, if they're able to drop the hammer post Fed statement on Wednesday, there will be plenty of spec selling to fuel the beatdown. We'll see.

Just a couple of other items today. First, Jeff Nielson has another interesting article for you:


Patrick Heller has something thought-provoking, too:


And this is fun...Some M&A in the mining sector! Whoopee! Every little bit helps!


Sorry for the short update but that's all I have for now. Watch the metals closely tonight and DO NOT allow yourself to be faked out IF the metals suddenly spring forward through 1630 and 29. You what they say: "Fool me once, shame on The Cartel. Fool me over and over and I might have to seriously think about reprogramming some of my algorithms".


About the Author

turd [at] tfmetalsreport [dot] com ()


Jun 18, 2012 - 5:31pm

love the lull.

love the lull.

Jun 18, 2012 - 5:32pm



edit: wow my first first, sorry I just could not resist: my heart is all a flutter

Jun 18, 2012 - 5:33pm


Beat me to it - that would deserve a hat tip cdellis - there ya go.

Jun 18, 2012 - 5:37pm



Couldn't resist either. My highest!

This reminds me when I was in Rotary. We always had a "half the take" for the members. We would draw a ticket at the end of the meeting and start off by saying "it is a blue ticket". Of course it was, there were no other colors but everyone would cheer and say "I'm in". Then the first 4 numbers on the ticket were always the same but we would read each digit off slowly, 1 by 1, and the cheers would keep getting louder as everyone was still in. It was so stupid it was hilarious. Kinda like being 1st here.

Jun 18, 2012 - 5:38pm

wth is with

so many even numbers today...
gold +2.00
silver +0.00
plat -1.00

Jun 18, 2012 - 5:40pm

go fourth!

and buy PMs!

[edit - solid post Turd, sums up the immediate predicament methinks]

Jun 18, 2012 - 5:47pm


I'd be holding some Extorre and its a low ball buyout and I'd be voting no along with allot of others I'm sure just 4 months ago it was selling at 8$

Jun 18, 2012 - 5:48pm


Thanks for the update Turd,I think bend us all over bernake will do more more of the same he hawin and continue the "UNDER COVER STIMULUS" That we are not suppose to know about.

Jun 18, 2012 - 5:53pm

trades smades..

any guarantees turd.....

The Doc
Jun 18, 2012 - 5:54pm

Excellent post Turd. Nearly Exactly What Eric Sprott Told Me

last week when I spoke with him, stating that the silver cartels have changed their MO.

I suspect Eric is a Turdite but regardless, you both are correct. Watch for a head fake tomorrow and a SMASH Wednesday.

Jun 18, 2012 - 5:57pm

You nailed it. Their game is

You nailed it.

Their game is obvious at this point.

Monedas cdellis
Jun 18, 2012 - 6:01pm

My heart's a flutter, too !

I feel like doing a spontaneous, random act of kindness (that implies that all I give isn't even enough, nevermind)....I'll open all the North Korean gulags and let the families be reunited ! No, that would be an intentional act of kindness ! Hmmm ? I'll fly a Cessna over a soccer game in Pakistan and scater a bag of 90% ? That would start a riot and many would be trampled ! No, that would be a selfish pleasure ! Oh well, I'll just go down and buy me a couple of silver rounds at the LCS....until a better idea comes along ! It's the thought that counts ! Monedas 1929 Comedy Jihad A Good Intention Is A Terrible Waste Of Time devil

Jun 18, 2012 - 6:06pm
Jun 18, 2012 - 6:07pm

Thanks Ty Webb

Appreciate it.

I think most of you will find the following vid interesting on some level.


Released on 11.29.11, https://internetRISING.net is a digi-documentary investigating the evolving relationships between the Internet and collective consciousness of humanity. It provokes many questions about ancient and modern paradoxes of life, its pleasures and pains... and the gray area contrasts in between - but most of all it is meant to be an inspiring conversation starter.

INTERNET RISING is a labor of love comprising a rapid fire mashup stream of live webcam interviews all conducted within the web sphere. The film's participants include many profound personalities and key internet influencers ranging from professors, corporate academics, futurists, researchers, writers, bloggers, media creators, activists, gamers, educators, scientists, artists, innovators - real humans, all of whom provide amazing insights into how our state of the world is changing and transforming via various forces of economic, social, geographic, political, philosophical development... all centered around technology's transformative and generative power.

Jun 18, 2012 - 6:16pm

Ranting Andy's daily email:

Today everyone is focusing on the Greek election, but that focus is totally misplaced. The election makes no difference whatsoever to the outcome of this worldwide economic disaster. Greece might be a catalyst, but a catalyst can come from anywhere.

-Egon von Greyerz

When this Depression starts, everyone will suffer; it's just a question of who suffers the least.

-Richard Russell

If Greece doesn't get its next loan installment, the Eurozone will collapse the following day."

-Alexis Tsipras, leader of the left-wing SYRIZA party.

I'm disclosing for the first time that the U.S. government has given JPMorgan the green light to manipulate the silver market.

-Ted Butler, renowned silver expert (Ted, I've "disclosed" this EVERY DAY for the past FIVE YEARS)

Unfortunately, the market reaction to the Spanish bank bailout was negative, with Spanish 10 year rate pushing past 7% for the first time since 1996.

-Deutschebank analyst

It's not about the Greeks. It's not about the Spanish. It's not about the Italians. It's not about the English. It's not about the Chinese. It's about EVERYBODY.

-Gerald Celente

Greece has a total debt of about $1.3 trillion. This is composed of their sovereign debt - which Europe counts - and their $90 billion in derivatives, Federally guaranteed regional debt, sovereign guaranteed bank and corporate debt, obligations to the EU, and loans from other central banks. It is simple addition, counting ALL the liabilities while Europe does not. Then take Greece's GDP and divide by its total debt, and you get a debt to GDP ratio of around 453%.

-Mark Grant

When the banking institutions need the money, central banks - whether it's the ECB, the Fed, the BoE, or a new global Central superbank - will print and print and print.

-Ron Paul

Jun 18, 2012 - 6:17pm

Momma swan

@Teach...Unfortunately, you might be right. Thanks for sharing that.

Here's Momma and her cygnets from the last thread.



Jun 18, 2012 - 6:23pm

Jim Rickles oops Rickards

So BIS will hold Tier One Standards until 2017, they will will they? Look this guy wears more hats than a Miami Beach Milliner, and evidently he has just returned from more of those juvenile delinquent war games with his pals in Arlington. There is disingenuous, thats borderline acceptable in some quarters, and then there is total unmitigated horseshit, .. so lets postulate its this weekend, after all we have to 20 idiot Gs sweating it out in Mexico, and its not the heat.

Jun 18, 2012 - 6:26pm
Jun 18, 2012 - 6:44pm

catch 22

so if I understand this correctly--if everybody knows that wednesday the cartel or fed or boyz or ee or somebody will smash PM -and enough of us know it--and expect an up day tomorrow-then late tomorrow we in fact do the dirty work and start selling. Great.

Jun 18, 2012 - 7:10pm

2nd most important question of the day

Do you have names for your clubs and is one of them named Billy?

Billy Baroo, Ooooh Billy Billy Billy.mpg
Island Guy
Jun 18, 2012 - 7:19pm

Anticipated Wednesday Beat Down

I agree completely with Turd's analysis that the Cartel's pattern of conduct has been to beat down the precious metals on days when Bernanke addresses Congress. However, here is my concern. Turd's blog is widely read, and undoubtedly it is monitored by the Cartel. At what point will the Cartel decide that so many people are wise to their current tricks, that they change over to something new?

After all, the beat downs on days that Bernanke speaks before Congress are a fairly new phenomenon, probably only dating back to February. If they mixed up their tactics before, they will do it again - just to mess with us!

Jun 18, 2012 - 7:33pm

Hat tip Monedas!!!

Monedas' best post. Nice.

I Run Bartertown
Jun 18, 2012 - 7:48pm



Bibi seems to want to keep his people safe and his culture intact. Maybe we can get Bibi to talk to these people and get them to stop interfering in our right to protect ours:


AJC Statement on Supreme Court Hearing Arizona vs. United States
From its founding in 1906, the American Jewish Committee (AJC) has been a strong voice in support of fair and generous treatment of immigrants, participating actively in many of the major immigration debates of our time. In advocating for these policies, AJC acts in accord with the American Jewish community’s longstanding interest in, and commitment to, a United States immigration and refugee policy that represents our nation’s best traditions. According to Jewish tradition, "strangers" are to be welcomed and valued, as we were once "strangers in the land of Egypt."
From its inception, AJC has condemned S.B.1070"

or this plotter:


Jun 18, 2012 - 7:53pm
Jun 18, 2012 - 8:24pm
Jun 18, 2012 - 8:26pm

Slowly and surely it's happening, then all at once

LME Bid by Hong Kong Seen as Way to Expand Into China

By Agnieszka Troszkiewicz and Maria Kolesnikova - Jun 18, 2012 12:13 PM ET

Hong Kong Exchanges & Clearing Ltd.’s bid for the London Metal Exchange, the most expensive bourse merger over $1 billion, is seen as a way for the LME to expand into China, the world’s largest buyer of metals.

China became the largest copper user in 2001, beating the U.S., and now accounts for 40 percent of global copper demand, compared with 13 percent in 2000, according to Royal Bank of Scotland Plc. The offer of 107.6 pounds a share, or 180 times LME’s 2011 net income, requires approvals from LME shareholders and the U.K. Financial Services Authority. It doesn’t need shareholder consent in Hong Kong.

The LME has 732 approved storage facilities in 37 locations in 14 countries from Singapore to the U.S. China has prohibited foreign futures exchanges from establishing warehouses in the country for physical delivery since 2008 to ensure market stability. The Asian nation now accounts for 20 percent to 25 percent of LME trading, according to the Hong Kong Exchanges.

“The Hong Kong bid has proximity to the Chinese market and potential entry to the Chinese market,” said Nic Brown, an analyst at Natixis SA in London. “China is certainly very important.”

The Hong Kong Exchanges’s ability to bid for the LME signals that the hurdle on warehouses appears to have been cleared, according to Thomas McMahon, a former chief executive officer of the Singapore Mercantile Exchange. “To do that independently in China, no one has ever been successful before,” McMahon said by phone today from Singapore, referring to attempts by a foreign exchange to establish warehouses in China.

LME Plans

The LME wants to expand its warehouse network into China, Martin Abbott, the exchange’s chief executive officer, said in May. It opened its first Asian office in Singapore in 2010 and introduced new contracts with the Singapore Exchange Ltd. to attract investors. BOCI Global Commodities (U.K.) Ltd., a Bank of China Ltd. unit, became the first Chinese company member of the LME this year.

“Their full potential will not be realized until they can tap the geography,”.....


Jun 18, 2012 - 8:27pm

Jim Rickards

In regards to Jim Rickards being the ultimate predictor of all things market related I must note that not too long ago he said that that QE# would begin when the Euro traded at 1.30. Take a look at where the Euro is now and no sign of QE3 yet. The bottom line is that no one is infallible and no one knows exactly what is going to happen. It is a game of probabilities and as Turd says there are patterns albeit they are patterns that change subtly over time that can make money with good money management principles being in place.

Jun 18, 2012 - 8:30pm
Jun 18, 2012 - 8:45pm

The Quickening

Video unavailable
gosave wupuwei
Jun 18, 2012 - 8:45pm


The guy is transparently duplicitous, he spoke at GATA in London for goodness sakes, mind you the book was just coming out, and nobody is saying he is not wild smart, he most certainly is, ..... its just not entirely clear to me who it is he works for. On second thought , it is...................

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