Mon, Nov 26, 2012 - 11:08am

After the fireworks and short squeeze of Friday, the churning trade of today shouldn't surprise anyone. It's a safe bet to expect more of the same tomorrow, too. Maybe even the rest of this week. We'll see. The start of December, however, should certainly bring more excitement.

Until then, we wait. Yes, it was fun to see the pop back on Friday. I was able to use the rally to finally lighten some of my December option positions and I will use any pullback this week to roll into March silver. But, as the opening paragraph states, I'm not expecting much of a sustainable move, one way or the other, this week. The Dec12 gold options and the Dec12 silver options all expire at the Comex close tomorrow. Until then, expect the HFTs and The Cartels to jam price back and forth in an attempt to shear as much fleece from the sheep as possible. Then, on Friday, we have First Notice Day for both contracts. (Remember that FND is the "put up or shut up" day for futures contract holders. By the close Friday, you either have to sell your Dec contract or express your intent to take delivery by placing 100% margin into your account.) Always fearing a delivery crisis, The Gold and Silver Cartels will likely instigate some price weakness in order to discourage anyone considering delivery from actually doing it. Think The Godfather and the horse head in the bed.

Video unavailable

So we're left with a rangebound trade for now. Gold rallied Friday right up to the final resistance line of $1755. We identified that area a few weeks ago as the final stopping point before the next test of the Cartel Maginot Line at $1800. We may not close through $1755 until next week. We may close through there tomorrow. Heck, I don't know. What I do know is this: Gold WILL close through there soon and then it will make another move toward $1800. In December, $1800 will fail and, in early 2013, the stage will be set for a move back to the old alltime highs. There you can expect serious Cartel resistance as their only hope will be to attempt to paint a double top.

Silver is will likely be contained below $35 this week with the option expiration and FND. Next week should be a different story, however, and it will also trade higher in December. I expect the cap/ceiling of $35.50-36.00 to fail this time and The Forces of Darkness will be forced to fall back to the $37-38 area. Sometime in December, they'll fail to hold that area, too, and we'll begin our ascent toward $44.

Dr. Dave Janda kindly invited me onto his radio program yesterday. It was an honor to speak with him and we covered many of the topics near and dear to the hearts of Turdville. Below is a link to the audio. If you don't have time for the entire thing, you should at least be sure to FF to the 16:00 minute mark where Dave plays some audio from Thunderlips that was recorded over two years ago. You'd swear it was recorded last week, instead. What a massive con and charade the CFTC is promulgating. Yuck.

And, finally, today is Cyber Monday!! Please don't forget to visit the TurdMart for all of your holiday shopping needs. Who on your list wouldn't love a TFMR t-shirt?? Seriously...a true gift of distinction! All genuine and authentic Turd merchandise can be found by clicking here: Please remember that the site benefits if you are directed to Amazon, too. Any purchase you make at Amazon after arriving there via links from TFMR generates a small commission for little ole Turd.

So, anyway, that's all for today. Go and be happy. Be confident, too. December is going to be a very exciting month and 2013 will truly be historic. Have a great day!


About the Author

turd [at] tfmetalsreport [dot] com ()


Fr. Bill
Nov 26, 2012 - 11:09am


When the market shows high volatility Turd's traders must have great agility. So, Furst, Secund, or Thurd (By all Turdites preferred) Will confer trading profitability.

Nov 26, 2012 - 11:11am


Thanks to TF for all he does here! Been following since the old blogspot days & a happy subscriber to TTM. I for one am really happy to see the slow, steady silver price gains rather than a steep, parabolic move.

Am I the only one who finds it strange that TF only gets 25 - 35 hat tips for his daily blog posts when there are often 200+ comments?

My first (and last) first, back to lurking for me.

Urban Roman
Nov 26, 2012 - 11:13am

Woo Hoo, Furth!

... now where did I put that link to the Rick Astley video ...

Big Buffalo
Nov 26, 2012 - 11:16am

Three - Third - Turd

Dispensing and taking trading advice in and from the comments are like . . . .

(This includes me.)

Fr. Bill
Nov 26, 2012 - 11:25am

Netdania Question

Fom the tail-end of the previous thread (not trying to spam; just trying to get a little information ...)

Does anyone know what the unit of measurement is at Netdania for the volumes in the gold and silver charts?

For example, during the smackdown at around 0915 this morning, during a five minute period (I usually load the 5-minute chart), price dropped about seven cents and the volume in that five-minute period was 4305.

Otay. So 4305 whats?

Just A Regular Guy
Nov 26, 2012 - 11:28am
Nov 26, 2012 - 11:29am

2012-S Proof Silver Eagles

The 2012 Proof Silver Eagles are sold out on the US Mint's website, but the 2012-S Proof Silver Eagle is still available, in a special set that also includes a $5 bill, called the 'Making American History Coin & Currency Set.'

My question to Turdville this morning is this: How many proof 2012-S Silver Eagles were minted?



Nov 26, 2012 - 11:44am

Options expiry tomorrow

Could someone tell me at what time of day tomorrow (EST) do the Gold and Silver options expire ?

Many thanks

Nov 26, 2012 - 11:45am
Nov 26, 2012 - 11:54am



This may not provide the answer to the 2012-S Proof figures, but at least we can see how many Silver Eagle Proofs are being sold over the past few years:

Key Economic Events Week of 10/14

10/15 8:30 ET Empire State Fed MI
10/16 8:30 ET Retail Sales
10/16 10:00 ET Business Inventories
10/17 8:30 ET Housing Starts and Bldg Perms
10/17 8:30 ET Philly Fed MI
10/17 9:15 ET Cap Ute and Ind Prod
10/18 10:00 ET LEIII
10/18 Speeches from Goons Kaplan, George and Chlamydia

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Key Economic Events Week of 10/14

10/15 8:30 ET Empire State Fed MI
10/16 8:30 ET Retail Sales
10/16 10:00 ET Business Inventories
10/17 8:30 ET Housing Starts and Bldg Perms
10/17 8:30 ET Philly Fed MI
10/17 9:15 ET Cap Ute and Ind Prod
10/18 10:00 ET LEIII
10/18 Speeches from Goons Kaplan, George and Chlamydia

Key Economic Events Week of 10/7

10/8 8:30 ET Producer Price Index
10/9 10:00 ET Job Openings
10/9 10:00 ET Wholesale Inventories
10/9 2:00 ET September FOMC minutes
10/10 8:30 ET Consumer Price Index
10/11 10:00 ET Consumer Sentiment

Key Economic Events Week of 9/30

9/30 9:45 ET Chicago PMI
10/1 9:45 ET Markit Manu PMI
10/1 10:00 ET ISM Manu PMI
10/1 10:00 ET Construction Spending
10/2 China Golden Week Begins
10/2 8:15 ET ADP jobs report
10/3 9:45 ET Markit Service PMI
10/3 10:00 ET ISM Service PMI
10/3 10:00 ET Factory Orders
10/4 8:30 ET BLSBS
10/4 8:30 ET US Trade Deficit

Key Economic Events Week of 9/23

9/23 9:45 ET Markit flash PMIs
9/24 10:00 ET Consumer Confidence
9/26 8:30 ET Q2 GDP third guess
9/27 8:30 ET Durable Goods
9/27 8:30 ET Pers Inc and Cons Spend
9/27 8:30 ET Core Inflation

Key Economic Events Week of 9/16

9/17 9:15 ET Cap Ute & Ind Prod
9/18 8:30 ET Housing Starts & Bldg Perm.
9/18 2:00 ET Fedlines
9/18 2:30 ET CGP presser
9/19 8:30 ET Philly Fed
9/19 10:00 ET Existing Home Sales

Key Economic Events Week of 9/9

9/10 10:00 ET Job openings
9/11 8:30 ET PPI
9/11 10:00 ET Wholesale Inv.
9/12 8:30 ET CPI
9/13 8:30 ET Retail Sales
9/13 10:00 ET Consumer Sentiment
9/13 10:00 ET Business Inv.

Key Economic Events Week of 9/3

9/3 9:45 ET Markit Manu PMI
9/3 10:00 ET ISM Manu PMI
9/3 10:00 ET Construction Spending
9/4 8:30 ET Foreign Trade Deficit
9/5 9:45 ET Markit Svc PMI
9/5 10:00 ET ISM Svc PMI
9/5 10:00 ET Factory Orders
9/6 8:30 ET BLSBS

Key Economic Events Week of 8/26

8/26 8:30 ET Durable Goods
8/27 9:00 ET Case-Shiller Home Price Idx
8/27 10:00 ET Consumer Confidence
8/29 8:30 ET Q2 GDP 2nd guess
8/29 8:30 ET Advance Trade in Goods
8/30 8:30 ET Pers. Inc. and Cons. Spend.
8/30 8:30 ET Core Inflation
8/30 9:45 ET Chicago PMI

Key Economic Events Week of 8/19

8/21 10:00 ET Existing home sales
8/21 2:00 ET July FOMC minutes
8/22 9:45 ET Markit Manu and Svc PMIs
8/22 Jackson Holedown begins
8/23 10:00 ET Chief Goon Powell speaks

Key Economic Events Week of 8/12

8/13 8:30 ET Consumer Price Index
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Labor Costs
8/14 8:30 ET Philly Fed
8/14 9:15 ET Ind Prod and Cap Ute
8/14 10:00 ET Business Inventories
8/15 8:30 ET Housing Starts & Bldg Permits

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