Turd's Blog

tfmetalsreport [at] gmail [dot] com ()

Craig Hemke, aka "Turd Ferguson," was a licensed securities "professional" for nearly twenty years. Disgruntled by the fraud known as "financial services", he retired to a career as a serial entrepreneur in 2008. Though otherworldly in his ability to forecast price movements, The Turd is NOT a soothsayer, a psychic or a witch. After all these years, he simply has a decent understanding of the forces at play in the precious metal "markets".

You can reach The Turd by visiting the Contact page and selecting "Speak to The Turd" or you can simply send him an email at turd[at]tfmetalsreport[dot]com. If you are polite and not belligerently arrogant, he will probably answer you in short order. If he does not answer you, do not be offended. He's a busy guy and there are only so many hours in a day.

Summary of Podcasts

Friday, December 2, 2022 - 2:00pm

This has been a consequential week for the Comex precious metals and, as it turns out, I had plenty of opportunity to discuss things along the way. Here's a free, public thread for your weekend listening pleasure.

With the lows in and much higher prices ahead in 2023, perhaps this is a...

Goebbels Blushes

Friday, December 2, 2022 - 10:26am

“ If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State...


Thursday, December 1, 2022 - 10:37am

What a day we have here! The economic and inflation data have only served to accelerate the rally that began at the Comex close yesterday with Jerry's speech and comments. Not even an appearance by Goon Bowman could slow things down and now we wait to see where we go from here.


A Busy Day Of Data

Wednesday, November 30, 2022 - 10:26am

We've been warning you that the back half of this week was going to be busy and volatile and today has not disappointed. What's nice is that the combined reaction in the PMs has been positive and that serves as just another sign that the lows are in and that the trend has shifted.


So Long, Dec22

Tuesday, November 29, 2022 - 10:42am

After having been the Comex gold and silver front months for over 90 days, we finally wave goodbye to the Dec22 contracts today as they move off the board and into their "delivery" phase.

Just how many contracts will be left "open and standing" remains to be seen. Will there be over 30...

Back On The Chain Gang

Monday, November 28, 2022 - 10:19am

Well, that certainly was a welcome respite. However, it's back to work this morning and a very busy and consequential week awaits so let's get going!

First of all today, keep in mind the tried and true TFMR adage... It's not how you begin the week that matters as much as how...

Black Friday Sale

Friday, November 25, 2022 - 9:32am

The Comex precious metals have been marked down this morning after rallying through Thursday. Is this The Banks giving us a Black Friday sale? Instead, it's just AlgoHell on a very light volume, post-vacation and pre-weekend trade.

I hope everyone enjoyed the day off from the US...

Time To Eat

Wednesday, November 23, 2022 - 10:18am

It's almost time to slow down and take a day off for the US holiday of Thanksgiving. Almost. But there's still work to be dine today so let's dig in and git'r done.

The day has already been crazy volatile for Comex Digital Silver. Why? Again, when the carbon-based traders leave the...

Dec22 Option Expiration Day

Tuesday, November 22, 2022 - 10:52am

It's expiration day for the Dec22 Comex contracts and, surprise surprise, both digital metals are actually green and UP on the day so far? What's the deal? Well, sometimes the HFT algo trade is too tough for even The Banks to overcome.

And what do I mean by that? Well first of all, let...

Let's All Take The Week Off

Monday, November 21, 2022 - 10:40am

Seriously. Nothing good is going to happen for us. The Comex PMs will remain under pressure through tomorrow with option expirations and then the rest of the week will be nonsense, low volume and HFT algo driven. What fun is that?

And so much of the news of just infuriating...and who...