Outside Reversal Week

Sat, Nov 10, 2012 - 12:43pm

Longtime Turdites understand the significance of an "Outside Reversal" or "Engulfing" pattern. On the daily chart, an ORD has proven to be a very reliable indicator of a change of trend and momentum. When you get one on a weekly chart...

First, for the uninitiated, here's a definition from Investopedia:


As you might imagine, I have a good reason for bringing this to your attention. After all the dust settled yesterday, we are left with ORDs on both the gold and silver weekly charts. Taken by itself, of course, this is just one indicator of potential gains to come. Throw in the dynamic fundamentals as we close 2012 and head into 2013, and we've got plenty of reason to be excited. If you haven't yet bought this recent dip, you should probably consider doing so in the very near future.

And it's not just the weekly charts that look compelling, check out these daily charts:

As we break it down further, check out how pretty these 8-hour charts are. The sellstop-running plunges of 11/2, followed by the quick reversals and now the breakouts bode very well for next week and beyond.

And even the 2-hour charts look pretty salty. Let's see how long these short-term trends can continue next week:

All-in-all, confidence is extremely high that the month-long pullback in the metals is over. I expect a rally from here through the end of 2012 and I am anticipating an exciting, unprecedented and historic 2013.

From a news standpoint, I trust that most of you have already seen this. Just in case, though, here's a link. Add another log to the fire regarding the leased, hypothecated, gone for good German tungsten gold.


And I first published a link to this story on Thursday. Fortunately, in case you missed it, The Doc and DenverDave are all over it for you. https://www.silverdoctors.com/new-royal-canadian-mint-silver-etr-is-just-another-fractional-bullion-scam/

Lastly, we wrapped up our 2nd Anniversary Hat Contest yesterday and the winners are:


The Dec 12 settled at $1730.70 and "worldend666" edged out "mapleleaf" by a whopping 18 cents! Worldend guessed $1730.00 and Mapleleaf had $1731.58. WOW!!!


Here Mapleleaf got his/her revenge with a guess of $32.67. The actual close was $32.62. Very impressive!!


Crude settled at $86.07 and the winner, with a guess of $86.00, was "delric". Good job!

Congratulations to all three winners. Please email me your shipping information at tfmetalsreport at gmail dot com and I'll ship you your very own autographed, genuine and authentic Turd Hat.

I hope that everyone has a safe and restful weekend. Get ready for an exciting week next and a very fun end of the year!


About the Author

turd [at] tfmetalsreport [dot] com ()


Nov 13, 2012 - 8:23am

Interesting, to say the least"States petition to secede"

Heard a little about this on local main stream media this morning. Looked around and was quite surprised. It seems there are a large number of States that want to secede from the Country. And it seems to be picking up speed. Wow

If even a couple of States are successful, it would be a huge game changer since they would most likely go to a Gold and Silver standard and need to gather large amounts to stock pile..... Any Thoughts or opinions are welcome.

(Surprised the MSM ran any of this)



Nov 13, 2012 - 7:48am

so happy that no individuals were charged in the


Otherwise some might think there was something wrong with the justice system..

How do you understand "Just us".. that's the 99%.. Banana republic KLEPTOCRACY.

I don't think we have seen anything yet, its going to get real, real bad.. How's that for being Positive??

Nov 13, 2012 - 7:17am

comex prices are like the weather in New England

If you don't like it wait a minute.

I am very surprised to see gold and silver come back this morning.. Of course, wait a minute.

What was the change, another Greek bailout?

Nov 13, 2012 - 6:21am

Re: Sprott interview

Sprott is just about the best thing to happen to the gold market apart from the Chinese. He can lay it out so simple, will remain calm whenever the phrases "gold bug" or "conspiracy theory" are brought into the discussion, and will just calmly lay out the case for gold and pick apart and neutralize the negative myths about the precious metals.

Though I must say I would probably manage to be as calm and confident as him, with his business success to back up my opinion :P

Nov 13, 2012 - 6:09am

I wish we would just plummet

I wish we would just plummet or fly and not this boring trading day. My gosh, cant they make up their mind what they want to do with the price of silver? The cartel is sure getting boring! Either make the freaking price of silver drop 5 bucks or get out of its way! They are more than capable of driving down the price of silver either way on a whim... so... did they turn into a bunch of pussies or what? Lets get it on Cartel!

Let me make this clear, I don't like the evil empire! But you got to respect the enemy's abilities to have a chance to win vs him. And they are MASTERS at public/mass psychology. You make the market dull, you kill excitement, in the end you kill the market.

Look at public participation in gold and silver over the last decade in the face of a 7x price rise. COMEX OI is basically the same on both precious metals as it was 10 years ago! Physical sales have maybe doubled in that timeframe, but NOTHING what you'd expect from a massive secular bull market and what is in the end a no-brainer investment decision.

They are very good at what they do - that however won't necessarly mean that they'll win in the end ;)

Nov 13, 2012 - 5:20am

Allez oop!

UK inflation goes to 2.7% (officially)


Nov 13, 2012 - 5:18am

The MSM speak! (thanks to @Hammer for posting the link)

Silver price to 'increase 400pc in three years'

The silver bull run will continue says investment specialist Ian Williams of Charteris Treasury.

Silver will increase in value five times over the next three years, according to mixed asset fund manager Ian Williams.

"Silver is about to enter a sustained bull market that will take the price from the current level of an ounce to 5 an ounce and we expect this price to be hit at the end of October 2015," he predicted.

"This forecast is based entirely using technical & cyclical analysis and is in keeping with the mathematical form displayed so far in the bull run that has taken Silver from an ounce in 2008 to its current price of an ounce – having hit an ounce in 2011."

Mr Williams said that the silver price was more volatile than gold, but that he expected silver to continue to dramatically outperform gold.

The Charteris manager said that macro fundamentals were supportive for the silver price, such as the re-election of President Obama, who supports Ben Bernanke's policy of quantitative easing.

Darius McDermott of Chelsea Financial Services agreed that QE means good news for precious metals.

"Strong demand for precious metals will remain as long as we have QE, which do well with each round of money printing. QE is bound to lead to inflation at some point and at that time, real assets will do best," he said.

"Investing in a fund that holds a range of precious metals gives you positive diversification and less reliance on just gold."


Nov 13, 2012 - 5:17am

Quote:Submitted by

Submitted by TREACHEROUS CRETINS on November 13, 2012 - 4:42am.


Yes, but are they saying the manipulated price will rise or the price will rise.

The two are completely different.

Nov 13, 2012 - 5:14am

@S Roche, Ferguson interview

I think the obvious parallel with FOFOA's line of thought regarding the gold mark was that Germany had a structural trade deficit IN GOLD for war reparations, and hyperinflated their currency printing to sustain it... just like he predicts the US GOV will do to maintain its physical trade deficit.

Key lesson is those that saved in gold lost nothing. A new fiat came in .. those that saved in gold lost nothing. The new fiat (rentenmark) became the reichmark, inflated and those that kept their wealth in gold lost nothing. Fiats can come and go, just don't save in fiat or debt instruments. When the bulk of the savings are in gold, it will require careful and credible currency management to coax any out. Bott0m line, savers can force this discipline on fiat managers by maintaining their savings in other forms.

Nov 13, 2012 - 4:42am

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