CoT Tuesday & Option Expiry = No Fun

Tue, Jul 24, 2012 - 10:34am

As we wait to see if Tuesday will be "Happy" or "Terrible", here are some items to help you pass the time.

First up, we had a nice pop this morning in the metals. Nothing of real consequence but it's still better than a sharp drop. Again, no one should get overly excited or committal until after August gold option expiration on Thursday. Until then, we'll likely fight a losing battle against the Forces of Darkness, centered around the 50-day moving average, near 1585.

Now that TTM is finally operating like a "normal" website, it appears that Gonzalo has a little more time on his hands. He has written an excellent piece on Spain where his current thinking is that they will be forced to exit the euro by September. Yikes! With the Spanish 10-year at 7.57%, he may be right. ( & (

Along those lines, that Bruce Krasting guy posted this interesting item at ZH a few days ago. Several very compelling insights contained therein:

Our pal, Ned, was kind enough to pass along the latest copy of John Butler's "Amphora Report" and I've tried to c&p it below. Ned has also promised an update soon on NASE (Ned & Andy's Silver Emporium). Obviously, there have been delays but nothing terminal. I'll pass along whatever info he provides.

These nice people were kind enough to craft an info-graphic that attempts to explain the LIEbor scandal. They sent it to me via email and asked if I would post it. I gladly oblige. ( (Click here to see a full size version.)

This last article was posted to ZH yesterday and I saw that several folks linked to it in the comments here. JS was kind enough to send it me directly, as well, so I thought I'd include it today. (

Finally, I got the break in soybeans that I was hoping for. I posted the chart below last evening when beans were down over $1 in just 24 hours. WOW! Now let's see if they can recover and rally further. The forecast for the next few days is for a break in the heat and, perhaps, some rain. The heat is forecast to return with a vengeance next week, though, so I'm looking to buy some Nov Bean calls today. I'll keep you posted.

That's all for now. Have a great day! TF

About the Author

turd [at] tfmetalsreport [dot] com ()


Jul 24, 2012 - 10:38am


again? That is something like five times now. I will buy a sleeve of silver eagles to celebrate on the next down day.

Jul 24, 2012 - 10:39am

lift your heads up

I think it is about to burst upward in the next few weeks. So keep it calm, be kind to one another our time to "lift our heads up, because our deliverence is near"

El Gordo
Jul 24, 2012 - 10:40am


Had a comment but got so excited that I forgot it.

Jul 24, 2012 - 10:41am

Turd, FYI, it looks like the


FYI, it looks like the infographic is significantly lower res than the one at their website. I can't even read it on yours when blown up.

Jul 24, 2012 - 10:46am

Well, silver tried to go

Well, silver tried to go green at 27.10 and they beat it back down again.


Jul 24, 2012 - 10:50am


Good for the pocketbook?

Jul 24, 2012 - 10:51am

Another HAARP related story

It connected an awful lot of dots for me. Looking forward to your comments about it in the forum.

Jul 24, 2012 - 11:00am

Big Miss

Richmond fed comes in at a -17 with expectations of a -3

Worst since April 2009

Jul 24, 2012 - 11:04am


A little patience is required here--we have the fundamentals on our side and no faith in not only our govt to do the right thing but most other governments.

I personally know a guy who is running for congress--a liberal--pretty far left liberal who is campaigning on keeping all the "entitlements"

His career was less than exemplary so he is now trying his hand at politics. He married into wealth (one of the smart things he did) but just does not "get it". He will likely be elected (without my vote) and further the divide in DC and exacerbate the problems in the coming years.

Hence, I feel comfortable with PM.

(but I too lose patience with the BS and need to be reminded to keep level headed)

PS--one of his favorite lines is that we are a wealthy country so its embarrassing we do not have health care for all.

I learned in B school that you can have a profitable company but go BK due to lack of cash.

Fr. Bill
Jul 24, 2012 - 11:11am

Mayor Turd's Moxy

Grazing through the links Mayor Turd provided above, I found something in The Underground Investor link that exactly reproduces what I've read Mayor Turd to affirm on any number of occasions. Here -- in someone else's words -- is the important point:

In fact, there are enough of us that have tweeted exact times and dates that gold would suffer significant drops in price just hours before it happened as if on cue.Our ability to do so has nothing to do with ingenuity but merely is due to the very simple realization of certain rigging patterns the cartel employs, a fact that should be impossible if the gold and silver markets were indeed free. I don’t want to waste any more time and energy on the bankers’ rigging of gold/silver prices lower other than to say that only the most naïve of naïve people can honestly believe that the same banks that would willingly collude to control LIBOR rates in an inappropriate manner would never collude to rig gold and silver prices (lower) in their favor as well. Maybe the tooth fairy and Santa Claus still does exist after all and I just am ignorant of this fact too.

Key Economic Events Week of 10/21

10/22 10:00 ET Existing home sales
10/24 8:30 ET Durable Goods
10/24 9:45 ET Markit flash PMIs
10/24 10:00 ET New home sales
10/25 10:00 ET Consumer Sentiment

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Key Economic Events Week of 10/21

10/22 10:00 ET Existing home sales
10/24 8:30 ET Durable Goods
10/24 9:45 ET Markit flash PMIs
10/24 10:00 ET New home sales
10/25 10:00 ET Consumer Sentiment

Key Economic Events Week of 10/14

10/15 8:30 ET Empire State Fed MI
10/16 8:30 ET Retail Sales
10/16 10:00 ET Business Inventories
10/17 8:30 ET Housing Starts and Bldg Perms
10/17 8:30 ET Philly Fed MI
10/17 9:15 ET Cap Ute and Ind Prod
10/18 10:00 ET LEIII
10/18 Speeches from Goons Kaplan, George and Chlamydia

Key Economic Events Week of 10/7

10/8 8:30 ET Producer Price Index
10/9 10:00 ET Job Openings
10/9 10:00 ET Wholesale Inventories
10/9 2:00 ET September FOMC minutes
10/10 8:30 ET Consumer Price Index
10/11 10:00 ET Consumer Sentiment

Key Economic Events Week of 9/30

9/30 9:45 ET Chicago PMI
10/1 9:45 ET Markit Manu PMI
10/1 10:00 ET ISM Manu PMI
10/1 10:00 ET Construction Spending
10/2 China Golden Week Begins
10/2 8:15 ET ADP jobs report
10/3 9:45 ET Markit Service PMI
10/3 10:00 ET ISM Service PMI
10/3 10:00 ET Factory Orders
10/4 8:30 ET BLSBS
10/4 8:30 ET US Trade Deficit

Key Economic Events Week of 9/23

9/23 9:45 ET Markit flash PMIs
9/24 10:00 ET Consumer Confidence
9/26 8:30 ET Q2 GDP third guess
9/27 8:30 ET Durable Goods
9/27 8:30 ET Pers Inc and Cons Spend
9/27 8:30 ET Core Inflation

Key Economic Events Week of 9/16

9/17 9:15 ET Cap Ute & Ind Prod
9/18 8:30 ET Housing Starts & Bldg Perm.
9/18 2:00 ET Fedlines
9/18 2:30 ET CGP presser
9/19 8:30 ET Philly Fed
9/19 10:00 ET Existing Home Sales

Key Economic Events Week of 9/9

9/10 10:00 ET Job openings
9/11 8:30 ET PPI
9/11 10:00 ET Wholesale Inv.
9/12 8:30 ET CPI
9/13 8:30 ET Retail Sales
9/13 10:00 ET Consumer Sentiment
9/13 10:00 ET Business Inv.

Key Economic Events Week of 9/3

9/3 9:45 ET Markit Manu PMI
9/3 10:00 ET ISM Manu PMI
9/3 10:00 ET Construction Spending
9/4 8:30 ET Foreign Trade Deficit
9/5 9:45 ET Markit Svc PMI
9/5 10:00 ET ISM Svc PMI
9/5 10:00 ET Factory Orders
9/6 8:30 ET BLSBS

Key Economic Events Week of 8/26

8/26 8:30 ET Durable Goods
8/27 9:00 ET Case-Shiller Home Price Idx
8/27 10:00 ET Consumer Confidence
8/29 8:30 ET Q2 GDP 2nd guess
8/29 8:30 ET Advance Trade in Goods
8/30 8:30 ET Pers. Inc. and Cons. Spend.
8/30 8:30 ET Core Inflation
8/30 9:45 ET Chicago PMI

Key Economic Events Week of 8/19

8/21 10:00 ET Existing home sales
8/21 2:00 ET July FOMC minutes
8/22 9:45 ET Markit Manu and Svc PMIs
8/22 Jackson Holedown begins
8/23 10:00 ET Chief Goon Powell speaks

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