Change of Plans

91
Wed, Aug 22, 2012 - 1:22pm

I was going to wait until after the FOMC minutes to write up a new post but I can't help myself. I need to get this published beforehand.

Again, as you all know, so far this year any public appearance, testimony, press conference, headline and/or meeting by The Fed or The Bernank has been met with program selling by the Forces of Darkness. In about an hour, we get the minutes of the latest Goon meeting from three weeks ago. Since we already saw the "fedlines" post-meeting, there really shouldn't be anything earth-shattering in the minutes.

However, look at these charts. Tell me that they don't look set up for a fall. The charts give me the impression that it matters little what the minutes say. The Cartels are going to sell paper metal regardless. Freaking Bernanke himself could show up to proclaim that The Fed began printing $100,000 bills at warp speed this morning and the Cartel algos will still dump paper metal as soon as the info hits the wires.

https://online.wsj.com/article/BT-CO-20120822-701198.html

But here's the the thing: Let 'em. They can bash and cajole all they want. Paper price may briefly fall but I expect it to almost immediately rebound. Fundamental changes are coming to the current structure. This process has likely already begun and the Monday and Tuesday performance of silver is testament to it.

Look for a dip regardless of the "news". Buy the dip and take delivery.

IF a dip does not develop and the "market" chooses, instead, to focus upon the future and not the past, both metals are clearly poised to blast out of their 100-day ranges and accelerate higher. Buy the rally and take delivery.

I'm still planning another, more comprehensive post for later this afternoon so please check back later.

TF

About the Author

Founder
turd [at] tfmetalsreport [dot] com ()

  91 Comments

gjervis
Aug 22, 2012 - 1:22pm

uno

uno


Aug 22, 2012 - 1:23pm

And an interesting spike of

And an interesting spike of buying into the Comex silver close again right now.

This makes three days in a row...every day this week...where this has occurred.

El Gordo
Aug 22, 2012 - 1:25pm

Holding on

Holding on for some direction. Been stacking all along. We'll see soon enough if it's time to drain the lake.

Money By Trading
Aug 22, 2012 - 1:27pm

PIMCO added more Gold below $1600

Reports Trader Dan:

https://traderdannorcini.blogspot.com/2012/08/pimco-buying-gold.html#com...

Nice to see those value buyers stepping up down there. A dip below $1547 before the end of the great secular bull would be a true shocker.

Jasper16
Aug 22, 2012 - 1:28pm

Turd for president

I'm writing your name in.

To hell with it, if I can't have Paul then I'll gladly take the Turd.

Money By Trading
Aug 22, 2012 - 1:28pm
Really-
Aug 22, 2012 - 1:29pm

"Hot, Explosive Summer"......

Turd you're awesome! Love this site! Great call!!

Really-
Aug 22, 2012 - 1:30pm

Turd for President?

I think this is a great idea!

Turd is a genius. I love this site and him. I'd vote for him AND contribute to his campaign!!!

Istack
Aug 22, 2012 - 1:32pm

Dip

i wanna buy

i really like mercury dimes

rtabit
Aug 22, 2012 - 1:35pm

SI 240

SI 240 support areas I see if we get a drop at FOMC minutes, I'm thinking we don't get a drop at all but is good to be prepared, but I'm currently flat SI and want to join the party so I hope we do get a drop. Support areas are red circles. 29.20 28.94 <= My prediction if we fall 28.62 27.50 <= My second prediction, also maybe 27.65 area from daily https://www.screencast.com/users/RandyTabit/folders/Silver/media/9072f7f3-9596-4297-b451-65728d27d7d2 EDIT: Turd, we made same post, I'm predicting 28.94, you're predicting 28.50. If I'm closer you owe me a hat, if you're closer I'll feed the Turd. The price must hit prediction, if we get to 28.60 you lose, it's like a reverse prices right.
Mr. Fix
Aug 22, 2012 - 1:36pm

Turd for President.............

I like the sound of that!

babodonk
Aug 22, 2012 - 1:37pm

i think turd has the midas

i think turd has the midas touch. soon as he posts, and down she goes...laugh

Mr. Fix
Aug 22, 2012 - 1:40pm

Free fall in gold, silver is

Free fall in gold, silver is holding.

SV
Aug 22, 2012 - 1:41pm

LATE SUMMA!

Its late summer, they can't do anything about this now! The election is almost here and then so too will be the cliff!
https://silvervigilante.com

Protonhead
Aug 22, 2012 - 1:44pm

So what is your prediction?

Turd, doesn't this basically allow you to claim to be right no matter what happens? So if metals tank you are right and if they instead go up, well hey you said that might happen too! Love it!

Dagney Taggart
Aug 22, 2012 - 1:52pm

This is BIG!

A Tech just sent me this.....

From: https://www.foxbusiness.com/technology/2012/08/22/from-blood-diamonds-to...

From Blood Diamonds to Blood Smartphones?

You’ve heard of ‘blood diamonds.’

Add ‘blood smartphones’ and ‘blood oil’ to the list.

The Securities and Exchange Commission voted Wednesday to finalize sweeping new rules that would effectively force companies to tell the world about their business in ‘conflict minerals' with the Democratic Republic of the Congo or an adjoining country.

Specifically, the rules force new disclosures of the use of four ‘conflict minerals’ -- tantalum, tin, gold or tungsten -- commonly used in computer chips and electronic gadgets. These could include smartphones, cameras, video-game consoles and music players, even cars.

.

.

Goodbye Gold. Hello Silver.

Protonhead
Aug 22, 2012 - 1:54pm

So now you're "protonhead"?

You used to be "kaisersose" and "chuckd".

Seriously, you're going to have to get more creative. Simply re-registering under the same IP will not get you through.

¤
Aug 22, 2012 - 1:57pm

Thanks...

....for the update. Is it just me, or does it seem quieter then normal today ( & the past week) in the media leading up to this FOMC? I don't expect anything new at all. I hope to be wrong and if we're lucky Beranake will come down with Tourettes Syndrome and say too much and the wrong thing. ]:-o

tmosley TF
Aug 22, 2012 - 2:00pm

Love it when they are

Love it when they are registered for all of 15 minutes. lol

Also funny that they demand that you be Nostradomus rather than analyzing potential scenarios.

treefrog
Aug 22, 2012 - 2:03pm

SILVER!

one min chart at netdania looks like a goosed golem!

....there goes gold too!

a_guy_in_hainesville
Aug 22, 2012 - 2:04pm

big initial reaction so far

big initial reaction so far

proton777 TF
Aug 22, 2012 - 2:05pm

For the record

We are not related. Different Protons


Aug 22, 2012 - 2:05pm

LIESman says

"Minutes indicate that The Fed is this close (fingers an inch apart) to doing QE3. Either in September or later this year."

The main thing is a line where economy needs "substantial improvement" or else more "measures" coming.

Fired
Aug 22, 2012 - 2:06pm

Over the last few days we

Over the last few days we have also seen a departure from the usual pattern of up after hours and smack at the open of NY. Clearly something going on like positioning for an event.

El Gordo
Aug 22, 2012 - 2:06pm

Mini woody?

Is that a little woody peeking out on that chart there?

thesandbox
Aug 22, 2012 - 2:07pm
adi
Aug 22, 2012 - 2:14pm

up we go

iacta alea est

Bollocks
Aug 22, 2012 - 2:14pm
MrC
Aug 22, 2012 - 2:16pm

so how much of the up move is

so how much of the up move is down to the pig free falling? I'm not convinced yet.

Prize Fighter
Aug 22, 2012 - 2:17pm

Yeah, that's hilarious Turd. 

Yeah, that's hilarious Turd. Paraphrasing....I'll give you a bunch of money soon but if you go back to work I probably won't. Gee, I wonder what the Nanny State will do with this dilemma?

Become a gold member and subscribe to Turd's Vault

Contribute

Donate Shop

Get Your Subscriber Benefits

Exclusive discount for silver purchases, and a private iTunes feed for TF Metals Report podcasts!

Key Economic Events Week of 2/18

2/20 2:00 ET January FOMC Minutes
2/21 8:30 ET Dec Durable Goods and Capital Equipment
2/21 8:30 ET Feb Philly Fed
2/21 9:45 ET Markit Manu and Svcs PMIs
2/21 10:00 ET Jan Existing Home Sales
2/22 Day long Fed Goon appearance at Chicago Booth Policy Forum

Key Economic Events Week of 2/11

2/12 12:45 ET GCP speaks
2/13 8:30 ET CPI and three Goon speeches
2/14 8:30 ET Retail Sales (December)
2/14 8:30 ET PPI
2/15 8:30 ET Import Price Index
2/15 9:15 ET Cap. Util. & Ind. Prod.

Key Economic Events Week of 2/4

2/5 8:30 ET Trade Balance
2/5 9:45 ET Service PMIs
2/5 9:00 pm ET Trump SOTU
2/6 8:30 ET Productivity and Unit Labor Costs
2/6 7:00 pm ET CGP speech
2/7 9:30 ET Goon Clarida speech
2/8 10:00 ET Wholesale Inventories

Recent Comments

by Montross515, 7 min 51 sec ago
by Marchas45, 32 min 55 sec ago
by MoonShiv, 33 min 30 sec ago
by Ned Braden, 47 min 55 sec ago
randomness