Deja Vu...All Over Again

386
Thu, Oct 4, 2012 - 10:43am

Shit's gettin' old.

OK, The Bad Guys have been doing their Masters' bidding for three weeks now. Since the introduction of QE∞, the metals have been aggressively capped. Gold has been contained, first below 1780 and, ultimately, 1800. Why? Pull up a long-term chart. Once through 1800, gold will almost immediately press forward to 1850 and then 1900. Silver has been capped, too. The $35 level was defended first but the main target is near 35.50. Once above there, silver will quickly advance toward 37.50.

The Cartel defense of these levels has been consistent and aggravating. But also predictable. I mean, seriously, were you at all surprised by the beatdown earlier this morning? If you were, you haven't been paying attention. First, there was the Globex smackdown of 9/17 followed by similar action the next morning:

We gave it a week and it happened again:

Just three days later, they began attacking during the morning, instead:

The real desperation began this week. Here is Monday:

And Tuesday:

And after taking a break yesterday, they came back again today:

On the bright side, price has since rebounded somewhat while the dollar has continued to slide lower and the London PM fix was again quite busy with new multi-month highs in both $gold and eurogold. The remaining sand is rapidly pouring through the hourglass now and resolution to this seemingly endless capping event is near.

And a heads up. I bought another Dec12 $8 corn call this morning just as I suspected I would earlier this week. I like this chart a lot and we have another crop report due next week (I think). Regardless, a move here through $7.65 should lead to some additional short covering and fresh buying. This should shove corn back toward $7.85 and, once back above there, $8+ will soon follow.

Lastly, just an update on our bullion affiliation with GBI and the Hard Assets Alliance. Though I am still enamored with their platform for buying, storing and even trading metal, I certainly understood the frustration from some regarding their $35 "account setup fee". Apparently they've gotten enough negative feedback now that they've decided to do away with the fee. So, if you haven't already, I invite you to check out the HAA site. Your purchases there help to pay the bills here so please give them your consideration. Thanks!

https://www.hardassetsalliance.com/registration

I hope that everyone has a great day in preparation for what should be a very interesting BLSBS day tomorrow.

TF

About the Author

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

  386 Comments

printmemoney
Oct 4, 2012 - 10:47am
tosser
Oct 4, 2012 - 10:47am

2nd

silver

Watcher
Oct 4, 2012 - 10:47am

From Jim Sinclair's siteHi

From Jim Sinclair's site .....

Hi Jim,

I totally agree with both of you that the Euro is an experiment to weed out the bugs for the grand experiment of a NWO currency.

First the US dollar falls from its global reserve currency status. Then regional reserve currencies are put in place to compete equally with the Euro.

This could be 7 regional currencies comprising of:

  1. The Yuan in Asia.
  2. One of the dinars for the Middle East through North Africa
  3. The Russian Ruble for most of the former Soviet Union
  4. The Brazilian Real for South America
  5. The US dollar for North America
  6. The Aussie dollar for the south Pacific through southern Africa
  7. And of course the Euro.

These seven currencies would then meld into one electronic currency that no one can buy or sell lest they have the mark to activate an account.

CIGA Rob

Dear Rob,

Yes.

Jim

vonburpenstein
Oct 4, 2012 - 10:48am

wasn't even trying...

Top something anyway!

C'mon baby, c'mon

reefman
Oct 4, 2012 - 10:49am

Turd, I just friend-requested you on fb! :) LOL!

Turd, I just friend-requested you on fb! :) LOL!

chinaussiedoll
Oct 4, 2012 - 10:50am

Surely not!

I am honored! But nowhere near fast enough...I swear it was a blank screen after I read the word of Turd. ..not even in the top three.

StevenBHorse
Oct 4, 2012 - 10:51am

Dollar looks ill......

Time for the pig to go sleep with the fishes. There was a slight chance that today could have held one more positive day for the dollar, but the ECB held their rates pat. So down she goes. For those scared....grow a pair.

I look forward to watching the Coug tomorrow. She is cougarific.

Long and Strong.

Neigh bitches.

Mr. Fix
Oct 4, 2012 - 10:53am

TA... Freeking... DA !!!

Too cool.

Edit:

F
I
R
S
T

Oct 4, 2012 - 10:53am
Zoltan
Oct 4, 2012 - 10:55am

Volume on the Charts

Dearest Turd,

Could you please include the volume numbers on your charts in the future? It really is telling and shows the huge number of paper contracts the flying monkeys have to fling at the market in order to do their dirty work. Not that their paw prints aren't all over the charts but the volume just clarifies how they do their thing.

Thanks for everything that you do and this wonderful site.

Z

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