Turd for Nobel Prize in 2013

283
Fri, Oct 12, 2012 - 11:31am

I mean, why not? Plus, I could use the cash!

First, Al Freaking Gore wins the Peace Prize for...what exactly? And then O'Bottom wins it...why again did he win it? And now, the sanctimonious Nobel Committee awards the Peace Prize to...The European Union? WTF?!? Don't you have to be an individual to win? Is this what Alfred Nobel intended? "Let's just reward and congratulate ourselves on being such wonderful and peaceful bureaucrats!". Seriously? Seriously. Oh well, the EU does need the cash. So, the campaign starts today. Screw the presidency, I want The Prize!

TURD FOR NOBEL PRIZE IN 2013

https://online.wsj.com/article/SB10000872396390444799904578051960191363312.html

One group definitely NOT deserving of any prize is The Evil Empire and their willing accomplices at the Comex. We've now had to endure Comex-opening beatdowns on 8 of the last 10 days. This is unbelievable and unprecedented. I don't think I've ever printed so many 1-minute charts and, frankly, I'm sick of it. Here are just a few:

And here are the "bloody gloves" from today's crime scene:

If I sound frustrated, it's because I am. These Comex games are enough to drive you to drink. We here know that physical metal is your only financial protection and investors worldwide are fast coming to the same conclusion. Regardless, the phony-baloney Comex paper price is still manipulated for the benefit of a select few. Whatever. Screw 'em. They'll get their comeuppance soon enough.

In the bigger picture on the longer-term charts, you can clearly see that they are making very little, actual progress. In fact, the shorts appear to be playing a losing game here. EVERY attempt to jab price lower is being met with stiff demand, not further selling. EVENTUALLY (soon), longs will be emboldened and, once some resistance levels are breached, the recent shorts will be forced to cover.

For now, keep your eye on $33.60 silver as this level has been attacked repeatedly this week and has held each time. Should a rally develop later today or early next week, our target remains $34.35. As, above there, shorts will begin to get squeezed and face capitulation.

And gold is looking to put in a "bowl" or "cup" shaped bottom on these charts. I'm always fascinated by these patterns when they come together as, when they work out, they almost seem predesigned and predestined.

Just two bits of reading today. First, Detlev Schlichter has penned another beauty: https://detlevschlichter.com/2012/10/we-are-on-the-road-to-serfdom

And our pal, Paul Mylchreest, has written up another lengthy report. Great stuff, as usual, and he was even kind enough to include a reference to some of our work here.

TRR28

OK, that's all for now. Please check back later as I will try to post some thoughts on the CoT when it's released. It should be somewhat interesting as OI declined over the survey week and we'll get some idea of just who was selling/covering.

Have a great day!

TF

About the Author

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turd [at] tfmetalsreport [dot] com ()

  283 Comments

silverwood
Oct 12, 2012 - 2:20pm

Attention all stackers!

Prices are being slashed for YOU to keep on stackin'. Crazy low prices are coming "we are practically giving it all away". You got to admit it those commercial boyz really know how to work a commitment of traders report!

pforth
Oct 12, 2012 - 2:21pm

Blythe for the peace prize?

For her tireless efforts towards keeping the prices of gold and silver at a low level where everyday folks can still afford to buy their protection.

Oct 12, 2012 - 2:24pm

Today's 5-minute charts

Under pressure all day and there's nothing like another bullshit, Globex beatdown to start your weekend on a sour note. Fuckers.

benque
Oct 12, 2012 - 2:25pm

Blythe

Well I wouldn't nominate her for the "piece" prize.

dgstage
Oct 12, 2012 - 2:28pm

@Turd

No Shit! How bad are we going to get kicked Sunday night?

indosil
Oct 12, 2012 - 2:28pm

Sunday Evening Beatdown

Turd,

Beatdown to continue on Sunday Evening open?

SilverTree
Oct 12, 2012 - 2:29pm

This a blessing. BTFD

This a blessing. BTFD

tyberious
Oct 12, 2012 - 2:36pm

reeks

of desperation! I really wish we new more about the derivativess contracts with JPM and IR swaps. That would be telling!

Oct 12, 2012 - 2:36pm

Not to go all Harvey on ya

But perhaps the silver OI tells us something.

Over the previous two days of relatively flat action, total silver OI surged another 2100 contracts and rested a/o yesterday at 142,591, easily the highest level for all of 2012.

If course, there's no way of knowing whether is is new long additions or new shorting, just as there is now way of knowing just whom is putting on these trades.

Thank you CFTC (you criminally inept bunch of panty-waste Cartel lapdogs)!!

Silver Alert
Oct 12, 2012 - 2:46pm

Just like I said

in the last thread. As soon as someone mentions support, the cartel has to pound the price under it.

For now, keep your eye on $33.60 silver as this level has been attacked repeatedly this week and has held each time. Should a rally develop later today or early next week, our target remains $34.35

Price got all the way down to 33.49 and is now putzing around at thirtythreefifty something.

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