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

SilverSurfers
Oct 15, 2012 - 9:06am

Bassackwards

"His client lost a $335k bid with 60k down to a $279k cash offer yesterday.", when cash is preferred over much more near-cash, its called backwardation, and a strong indication that the full faith and credit of the elected politicians is in backasswardation.

anyone else feel like weezzz gettin hosed by the politicos ....

Yellow submarine
crg
Oct 15, 2012 - 9:47am

KWN Top

When KWN starts screaming $10,000 gold, a top usually occurs. When all the smart people come on KWN and start screaming "end of civilization," usually another sign of a top for now. And if JPM has such a massive short position in silver, why doesn't someone buy and squeeze the assholes? Surely there are people, funds with pockets that would love to see them go bust. Alot of this ain't adding up here...And this Wynter Benton crap, really, posting how to bust JPM on Yahoo boards? Cmon now!! Love to see it but i say "bs."......

SilverSurfers
Oct 15, 2012 - 10:16am

100% on the calls

Cant get any better. Im batting 100% on the market calls.

Im building a very solid track record, just put a NOT in front of all my market calls.

"today's opening may be it for the retest."

32.50 1730 .....

¤
Oct 15, 2012 - 10:31am

Down: PM's and Hopium

Bottomline....TPTB and their algo's and all the seemingly insignificant or contrarian factors that control or steer most of the market are firmly in control until after the election.

Nothing has changed nor will it anytime soon.

I believe this goes on for alot longer then anyone is comfortable with or even willing to admit.
Stone Temple Pilots - Down (Official Video)
Rui
Oct 15, 2012 - 10:32am

Keep your over-bullishness in check, always

Market does not go up with a load of weak hands on board. Never did. Never will. It has to shake them out before BOS is willing to participate. When you see that vast # of open interests and spec positions you have to be careful b/c BOS is on the sideline waiting EE to clean the weak hands out. It's a mini-bloodbath now so take it as a lesson.

ggnewmex
Oct 15, 2012 - 10:43am

THis is the reason for not playing

If one is aware that this market is so very rigged against the "little guy" why play?

THis is what whill happen!!!! This is why, all the smart people say, NO MARGIN, BUY

ONLY PHYZZZ THAT YOU CAN HOLD IN YOUR HAND.

That way, one can use today to advance your own cause!!! rather than being beaten

like a mule. I am sorry for those who have lost today, but really, can anyone feel sorry

for you with all the warning you have had?

ggnewmex
Oct 15, 2012 - 10:45am

Wynter Benton

WHile I like the story, Please....

on YAHOO msg Boards??? really???


Oct 15, 2012 - 11:00am

Working

I'm busy typing up a new post based upon historical data. Not buying the dip just yet.

Thank you for your patience.

Silver Danny TF
Oct 15, 2012 - 11:16am

Thanks Turd....

Hopefully this Clive Maund fellow is not right, ugh, another trip below $30 would really suck!

Silver Market Update : Bloodbath imminent ?

Gold Market Analysis : Gold Futures set up for a smack down ?

crg
Oct 15, 2012 - 11:17am

Markets

Can stay irrational for a looong time. Govt ponzi schemes can stay around for a looong time. This debt is going bite us. Eventually. Again, this ponzi, bullshit economy can go for a looong time, muddling around. You think the people in power, govt, corporations are going to roll over and give up their way of life? Ha, they can drag this debt based system out longer than you think.....

ivars
Oct 15, 2012 - 11:59am

One possibility is a bottom

One possibility is a bottom at 32 , around 01.00 a.m. GMT which is 9.p.m. NYT. That would be the best. These fake statistics are really confusing market, may be have to wait until second presidential debate to see some direction.

SilverSurfers
Oct 15, 2012 - 12:07pm

Hopium

The scourge of Turdville. Welp, its real, I have seen it many times. I caught Hopium, with unprotected futures trading about five years ago. I need help, we all who have it need help. The first thing you have to do, is admit to yourself, you are addicted. Im addicted, I admit it. I can hear raucous cheers going up in Trudville, I passed step 1. Trudville is the Hopium anonymous support group. Well, you are never really cured, but you learn to live with the psychological affliction, its real and can be devastating to your psychological and financial health. We all need to stick together, here, for the good of the whole, and help one another, get through withdrawals, downdrafts, manipulated corrections and potential suicides. We can beat this. We have to be on constant vigilance and look out for our dear friends exhibiting signs of Hopium, like irrational exuberance, posting of bullish commentaries, and characterized by that twinkle in the starry chart-eyes with fervent chart eye movement, overly optimistic calls, wild ass predictions, all over a significant period of time, as these are the tall tale signs of the dreaded Hopium addiction. The cure is non-existent, and the treatment to live a normal life is difficult, without which treatment, it can lead to back sliding and ruination. But, if you are serious about learning to live with its ever present affects, you have to have strong hands. After you have admitted to yourself, and confessed to the Turdville support group, that you are addicted to Hopium, you then have to start stacking. Every time you get that urge to hope, just take out your stack, and fondle it awhile, (this reinforces in your mind that you have something no one can manipulate you out of). Then, go to the futures markets, COT reports and compare to price action charts, and look at the small spec's change in COT over the last down draft. That usually bucks you up, to remain cool in your price action pessimism with strong hands holding your stack. Now, you have to get on your knees with appropriate lighting. Soft candle lighting is preferred here, but strobe lights directly into the eyes inducing a hypnotic trance has been shown to be effective in 25% of severe cases of Hopium. Now you chant, "I will not sale my stack, I will not sale my stack, I will not be suckered out of my position by hopium on the futures exchange, I will hold by stack, I will hold my stack, I will add to my stack, I will add to my stack, I will not sale my stack." It usually takes about 30 minutes of self induced hypnotic chanting before the urges of Hopium fade, but, for very troubling cases, up to an hour each day may be required.

Hopium is a disease. There is no cure. But if you admit to yourself you are inflicted, we all at trudville promise to help you live with it. Our motto "JUST KEEP STACKING!""

thatguy007
Oct 15, 2012 - 12:44pm

Gold making a dash to get above the 1738 resistance level

Gold making a dash to get above the 1738 resistance level, silver seems to be making a half hearted dash @ 32.95

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