Change of Plans

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.

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.


About the Author

turd [at] tfmetalsreport [dot] com ()


Aug 22, 2012 - 1:22pm



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:

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.

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
Aug 22, 2012 - 1:29pm

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

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

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!!!

Aug 22, 2012 - 1:32pm


i wanna buy

i really like mercury dimes

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 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.

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