Chart Update

Mon, Jul 22, 2013 - 10:51am

Well, this is certainly an encouraging start to the week, wouldn't you say?

I wasn't planning an additional post but the action overnight and this morning merits your attention.

Last Monday, I mentioned that both gold and silver had "room to rally". For a guy whose trolls claim is inaccurate 99% of the time, I've been doing OK lately. They may nee to re-work that tagline to something like "inaccurate 85% of the time" or something like that. Anyway, you might go back and review this post when you have a moment:

The reason I mention this is not to pat myself on the back, it's to control and manage your expectations and hopes. Yes, we're seeing some squeezing of the spec shorts...particularly at last night's Globex open. This is a very good sign as it displays intent. Why did gold open $15 higher? When was the last time that ever happened? The only time can recall is Sunday, 8/7/11, after the Friday 8/5 S&P downgrade of the U.S. The fact that gold opened 1% higher...on a a very encouraging sign. Perhaps The Cartel is beginning their long-awaited Spec short squeeze? We shall see.

Now, before you get too excited, again I ask you to go back and read last Monday's post. In it, I pointed out that gold could easily run toward 1320-1340 and silver toward $21 without disrupting the overall downtrend. And they have done just that. The key, obviously, is what happens next. They could just as easily roll over as The Large Specs double down and try to jam prices backward. IF, however, they extend here...and mover through and close above $1340 and $21.12....we might really be onto something. Therefore, watch the action over the next few days very closely and you may soon discover whether or not this brutal, nine-month beatdown scheme has come to an end.

And just a few words about GOFO again today as rates stayed deeply negative for an unprecedented and historic eleventh day in a row. First, Reuters of all people wrote up an excellent piece on the subject back on Friday. You should read it: And our pal, Denver Dave, wrote up anpother excellent summation yesterday. You should read it, too: &

OK, that's all for now. As I close, gold is UP over 2% for the day...the rarity of rarities! Let's see if it can extend hang onto these gains into tomorrow. Keep your fingers crossed!!


About the Author

turd [at] tfmetalsreport [dot] com ()


Jul 22, 2013 - 11:00am



Jul 22, 2013 - 11:02am



Jul 22, 2013 - 11:02am

About time

That someone claimed first. Post up for 5 minutes and no one claimed it. I thought I was the only one left.

Jul 22, 2013 - 11:03am



El Gordo
Jul 22, 2013 - 11:04am

Well, now

lookie here. Can I repost from the previous thread?

Wow, the Kitco chart was able to get it up twice in less than 24 hours. That's probably better than I can do these days.

Jul 22, 2013 - 11:07am

top 5


Quite rare for me to be on main street nowadays.....

Fingers and toes crossed we hold and progress.

action in miners looks great. some of the miners i follow completed a double bottom some time back and broke through their 50dma. They spent a few days back testing but have broken well away.

the hui today breaks through its 50dma.

next stop looks as though its the june highs in miners.

Jul 22, 2013 - 11:08am


Two top tens in less than twelve hours. Come on short squeeze!

Jul 22, 2013 - 11:14am

Considering that...

1) The royal bambino is due any minute and

2) A lot of Brits read this site

I hereby offer this bit of American humor.

Jul 22, 2013 - 11:15am


gr8 start!

Jul 22, 2013 - 11:15am


Jul 22, 2013 - 11:15am


reposted from previous thread:

I hope an explosive move up in miners is close at hand. However, it seems to me that when the cartel loses a little control of bullion they seem to up their efforts on the miners.

Example: silver up 4.52% , EXK up 3.92%.

I would expect EXK to be up 10% when silver is up 5%.

Jul 22, 2013 - 11:25am

Take him to Detroit

kentucky fried movie take him to detroit unedited
Jul 22, 2013 - 11:34am

Short squeeze or devious plan?

Everybody and their brother has been waiting for a short squeeze. Could this be the real thing or could it be the cartel suckering in weak handed and nervous longs ready for the next and possibly last ditch, desperate attack?

Jul 22, 2013 - 11:36am

Though dated, this is really

Though dated, this is really good and comprehensive stuff from The Jackass:

Jul 22, 2013 - 11:38am

Google ad on MY SITE

I had to click it just to see what it was...and it's an ad for the jagoff Harry Dent, claiming that gold is going to $750.

If anyone is "wrong 99% of the time", it's that douchebag con artist and snakeoil salesman.

Jul 22, 2013 - 11:39am
Jul 22, 2013 - 11:40am


Please, no one use the 6 letter word that begins with b and ends with m. I don't think I can take another call for it.

Jul 22, 2013 - 11:41am


Sorry for the short notice but all should consider listening in or catching the replay. Paul absolutely nailed it (SO FAR) by calling a bottom at $1195 gold and $18.70 silver.

Discount for new members today, too. "Be sure to tell em Turd sent ya!"


<edited for Keg>

Wallace Hartley
Jul 22, 2013 - 11:42am

Setup for Expiry?

A 5% spike in Silver? WTF!?!?! Feels like a setup to me with options expiry coming this Thurs. The dry powder needed to smash price will also be available courtesy of a $4.25-$5.25 billion POMO day on Thurs. Will the games continue? Stay tuned....

Wallace Hartley
Jul 22, 2013 - 11:45am

That's true, too

And we discussed that last week, also.

Lots of money to be made by squeezing those who had sold short the $1300+ calls.

Jul 22, 2013 - 11:47am
Jul 22, 2013 - 12:03pm

Don't Count Your Chickens...

Before they're hatched, that is!

Roughly averaging spot gold and silver prices for the first six months of this year, we have;

Gold at $1,598.45 and silver at $27.55

So until both metals surpass those levels and hold above them, on a weekly closing basis, theres no need to get overly excited and start counting your chickens! Although, its nice to see these gains for a Monday.

Jul 22, 2013 - 12:04pm


I would like to buy a vowel? (I have no idea what you're referencing ;^)

Jul 22, 2013 - 12:09pm

thank you Turd...

...for all you have done during these months of depressed prices and brutal manipulation. Your effort, time and knowledge are invaluable. I encourage the folks here that as soon as you recover from losses and the ones already making some fiat to send a decent donation. Turd greatly deserve it and is the just action from our side. (talking about unjust and immoral world).

Jul 22, 2013 - 12:10pm

Maria BarfdaPOMO

is getting a bit long in the tooth and not aging well, she'll be lucky to stay with CNBS, doing her sad, aging stock market cheerleading routine even though she is married to a big shot

Jul 22, 2013 - 12:13pm

Buy a vowel

Os are on sale. 2 for the price of 1.

Thanks for the edit Turd. smiley

Jul 22, 2013 - 12:15pm there a "t"


"we have two t's....would you like to make a guess?"

Clue: full of turds


Jul 22, 2013 - 12:16pm

Greek bank executives convicted of manslaughter

No prosecution of the people who committed the arson, but prison for officials of the bank targeted? As much as I would like to see bank officials prosecuted, I don't get this.

The CEO of Marfin Bank, the lender’s head of security and the manager of the Stadiou Street branch have been found of guilty of manslaughter through negligence and causing bodily harm in connection to the aftermath of an arson attack in 2010 that left three employees dead and another 21 injured.

The Athens misdemeanors court handed maximum jail sentences of 10 years to CEO Constantinos Vasilakopoulos and security chief Emmanouil Pelonakis.

The branch manager Anna Vakalopoulou was given 5 years and 1 month in jail. Her deputy, Anastasia Koukou was cleared of all charges.

Jul 22, 2013 - 12:17pm


What does it matter if you mine silver at $19 or $20 oz? It's still a losing operation.

The CEO of Barrick said, miners really need $3000 to advance many of the projects in the future.

Jul 22, 2013 - 12:20pm

Someones boat has been found....

On Monday, Tampa-based Odyssey Marine Exploration announced that it had recovered over 61 tons (1.8 million ounces) of silver bullion this month from the wreck of a cargo ship torpedoed 300 miles off the coast of Ireland during World War II.

I hear JPM might be in the market for some of that....

Become a gold member and subscribe to Turd's Vault


Donate  Shop

Get Your Subscriber Benefits

Exclusive discount for silver purchases, and a private iTunes feed for TF Metals Report podcasts!

Key Economic Events Week of 1/14

1/15 8:30 am ET Producer Price Index
1/15 8:30 am ET Empire State Mfg. Index
1/16 8:30 am ET Retail Sales
1/16 8:30 am ET Import Price Index
1/17 8:30 am ET Housing Starts
1/17 8:30 am ET Philly Fed
1/18 9:15 am ET Capacity Utilization and Ind. Prod.

Key Economic Events Week of 1/7

1/7 10:00 ET ISM Services Index
1/7 10:00 ET Factory Orders
1/9 2:00 ET December FOMC minutes 
1/10 Speeches from CGP, Goons Bullard and Evans
1/11 8:30 ET CPI

Key Economic Events Week of 12/31

1/2 9:45 am ET Markit Manu PMI
1/3 10:00 am ET ISM Manu Index
1/4 8:30 am ET BLSBS
1/4 9:45 am ET Markit Serv PMI

Recent Comments

by cashonly, 15 min 27 sec ago
by Turd Ferguson, 51 min 8 sec ago
by ned braden, 1 hour 4 min ago
by silver66, 1 hour 29 min ago