Turd on the Brink of Insanity

So, this is how it works in the Age of Lies, Obfuscation & Nonsense.

2/29 - Bernanke testimony. Down go PMs. https://www.tfmetalsreport.com/blog/3465/csi-comex-gold-and-silver-massacre

3/8 - Bernanke buttboy Hilsenrath talks. Up go PMs. https://www.tfmetalsreport.com/blog/3494/whatever-sterilize

3/13 - FOMC minutes no QE. Down go PMs. https://www.tfmetalsreport.com/blog/3520/literally-sick-my-stomach

3/26 - Bernanke talks. Up go PMs. https://www.tfmetalsreport.com/blog/3578/thank-you-mr-ben-bernank

4/3 - FOMC minutes again. Down go PMs. https://www.tfmetalsreport.com/blog/3615/schizo

4/11-12 - More talk of QE from Bernanke, Yellen and Dudley. Up go PMs. https://www.tfmetalsreport.com/blog/3654/sack-nonsense-redux

4/13 - Bernanke talks. Down go PMs. http://www.zerohedge.com/news/no-hints-qe-latest-bernanke-word-cloud

Absolutely ridiculous and comical nonsense. NO ONE should be attempting to trade gold and/or silver futures on the Comex. The WOPRs and The Cartel are completely in charge and every mutterance and headline sends a cascade of HFT orders based solely upon phraseology and syntax. THIS IS MADNESS! In the end, the fiat price of true money is left to shift in the wind, regardless of the underlying fundamentals. Therefore, THE ONLY ONES WITH A CHANCE are the regulars in Andy's Army. EVERYONE ELSE must avoid day trading at all costs. THE ONLY OPTION is to buy physical metal on paper metal dips and TAKE DELIVERY.

Have a nice weekend. TF

483 Comments

Hawk's picture

It isn't easy by any stretch of the imagination

Dr G, In answer to your question above So far Andrew has placed around 10 trades, All winners. Not a dime lost. Hasn't been easy now and im telling you that most of you will not be able to do this. No offense but I trade every day and this is by far the fastest reactions you need to have. 

BTW Minis will not work, spreads are just too wide. That means Full Comex Gold contracts only. 

HAWK

lodmund's picture

COT report

it's possible that the modest take down this afternoon ( UK time) is because the cartel know that the COT figures are going to be extremely bullish this week, resulting in a last minute rise before close.

Equally as the COT report is the only piece of useful internal market information that we are given, I strongly suspect that it will soon be suspended.

boil_in_the_bag_rice's picture

The Euro

Every man and his dog here in Euroland thinks the euro will collapse, but if you look at the chart, the euro is only down 10% on the dollar in the last 12 months. It's at the same level as 2 years ago, and is actually up over the last 5 years.

So I ask the question, if we in Europe can sort out our problems like we are actually trying to do with government spending cuts, what will happen to the exchange rate then.

I mean, if the dollar can only get those miserable results against such a gloomy euro situation, I think it tells you the lack of faith in the Dollar. I think the euro has a far better chance of survival than the dollar.

Orange's picture

@Bullwhip29

I bought them at Walgreens as it was on the way from the airport. Convenient, but the next time I will check around.

Not sure what Walmart is doing I see from your link that they list 4 at $24 something and also 4 at $11 something. It looks like the $11 something is a misprint for 2.

In this case, $18 for three is about the same for Coppertone Duracell 9 v batteries.

ink's picture

This is the line that worries me

Anyone care to comment?

S Roche's picture

Technicals & AM

In my experience of "day-trading" gold it is all about time-frame, which, given the fundamentals, is all about leverage.

The AM trade is a scalping trade taking advantage of the daily pattern on a very short time frame, sometimes minutes. It is low risk in this environment.

There is a wonderful tale in Liar's Poker where the Salomon Bros pit-boss tells the rookie trader he thinks Munis (or something) will get a bid, the rookie buys a few lots of $250k or so...the prices tank, he checks with the boss and the boss tells him to keep buying, they'll get a bid, so he buys a few more lots. Prices drift lower, the rookie starts to worry and tells his boss again... exasperated by the rookie's doubts the boss instantly buys $2 Billion, prices then move up nicely and the boss says "see, I told ya they'd get a bid"

That was in the 1980s, bonds are a much bigger market than the metals (by a huge factor) so, lots of different participants can throw their weight around in the metals to suit their physical or futures or options exposure on the semi(?)-transparent Comex or the dark-pooled LBMA. I watch the price action all the time and I have seen it ramped UP in the access market as well as beat down.

Trading short term with leverage we are up against every co-located, PhD designed, flow-informed, stops-aware, arbitraging super-computer robot on a post-MFing Global dying platform.... but, seeing how people will bet on two flies crawling up a wall, what's not to like?

You know what horse-sense is? It's what stops horses betting on what people will do.

SilverWealth's picture

Turd

In your own inimitable style just produce a video for youtube.

Show how to buy the Comex close and sell before the Comex open. Keep it simple and draw millions of traders to it. Get it viral across MaxKeiser,ZeroHedge,etc. until retail knows about it. You can show stats but imo it should not be political. It could be disseminated as an inside way to make money trading metal.

The Morgue would have alot of inadvertent attention drawn to their waterfalls. It would definitely crimp their style and be a shot across their bow. And it indirectly and very clearly would underline the concentrated racketeering going on in the entire sector. How do you think the Morgue would react if their favorite trade was lit up in neon for all to see? Why not deny them the ease of trading monopolistically between themselves in a rigged market? I mean isn't that the hoped for beauty of Shanghai Exchange finally coming online to restore a semblance of fairness to the trade. Why not do it your way and make the video entertaining, flashy and completely nonpolitical.

the minute you get labeled as a conspiracy nut the video won't work. Can't go there. Keep that here. Just make a fun and funny video and draw millions of hits. Then we watch from there.

dropout's picture

@lodmund Re: COT report

"the COT report is the only piece of useful internal information..."

That's ONLY if you believe what that report contains. What is more important is what that report does NOT contain!

There are more holes in it than Swiss cheese! Just the fact that they do not report in a timely manner irks you.

You must attempt to read between the lines, as most experienced pundits do. I agree that it will be either suspended soon or twisted all out of shape as to truthfulness.  

bullwhip29's picture

TPTB are stuck between a rock and a hard place now.

No QE = deflation

More QE = stagflation

Assuming more QE is coming, do they bring it before or after the election? That is a much tougher question to answer. With markets collapsing, Obama is toast. Perhaps this is precisely what the puppet masters want.  Romney can then look like the good guy as he taps the Bernank on the shoulder. Unfortunately for the gold bulls, this means things may get worse in the short term before the real party begins next year.

Roger Godberd's picture

This is the line that worries me

Guess the more we hit that resistance the more violent the break when it comes...but WTFDIK?

Doc Scurlock's picture

Hang in there

My sympathy for Comex traders has long since faded.  If you're going to deal with the devil, be ready for the consequences.  Otherwise, just relax.  We all know these days are going to happen, use them to acquire solid PM equities and  physical metals.  We know the playbook, and more importantly we know the eventual resolution to the never addressed debt bubble.  Enjoy the sale in assets that you already want to own, enjoy your weekend, and keep stacking.

BTW: be careful dealing with the devil.

http://www.hulu.com/watch/19181/saturday-night-live-the-peoples-court

Dr G's picture

This is america no one is

This is america no one is  going to jail for putting up bumper stickers.

You kind of stole my argument from me. This is America. Jail for bumper stickers. Only in America.

JY896's picture

Cashless future in NWO

@Straying from the Flock - in case you missed it:

Italy has already tightened restrictions on cash use, Sweden is now a posterchild of MSM evangelism on the benefits and glory of digital currency. Though this is not an authoritative source, I don't have time now to go to the original text: Russia is planning to clamp down further on cash, Argentina is doing the same -- and banks the world over have been increasingly aggressive in de-incentivizing cash usage for decades now.

Dr G's picture

@Hawk, thanks for the update!

@Hawk, thanks for the update! I'm not the only one eager to see the results of The Army.

bullwhip29's picture

@ porky

Re: This is the line...

The S&P is also stuck on a very important line. So, do TPTB keep equities propped up or do they let some air out of the commodities? I believe they have been attempting to do both, with limited success so far. Anyway, should be a very interesting tug of war going forward...

Dr G's picture

re: batteries. We have a

re: batteries.

We have a silly baby toy cell phone for infants that my first 1st child loved. We found it the other day and decided to give it to our youngest (now 8 months old). You push the buttons and it makes noises and dials a number and blah, blah, blah. But it didn't work. Batteries needed changing. We unscrew the thing and there are 3 of those small circle batteries in it. No sweat. Walmart has them for $6 a piece. I'm NOT paying $18 for those 3 batteries. I got to the baby toy isle and find a similar toy (not the exact one, but we bought it in 2002 so it's been 10 years) for $4.99.

Batteries schmateries.

Mudsharkbytes's picture

"Vote all you want: The flight plan doesn’t change"

Really great article at:

http://ppjg.me/2012/04/12/vote-all-you-want-the-flight-plan-doesnt-change/

Pretty much says what I've been thinking for years.

A few extracts:

Vote all you want, the flight plan does not change no matter who wins.  We got us a big election coming up and of course the country is dividing itself right down the middle at least in some areas. For most of us out here this coming election means nothing.  The usual arguments over whether we are flying headlong into socialism or, if we are in fact in the throws of fascism seem to have lost their appeal.  Most have realized that whether socialism or fascism the end result is the same; a ruling class and the rest of us servants.  It just depends on which sales pitch appeals to you. For most of us, we have had it with the snake oil politicians and their ever changing sales pitch’s.

And:

Fundamentally changing

Obama asked in his acceptance speech if we were ready to join him in fundamentally changing our country.  What did we think he meant?  Did any one of us think to ask….fundamentally change it how?  No, we did not.  It would appear the fundamental changes Obama promised were comprised of restructuring state and local governments to accommodate the United Nations and one world government.  Along the way we [fundamentally changed] Libya, Egypt, parts of Pakistan and are now looking towards fundamentally changing Iran and a few other places where the global bankers had been unable to sink their parasitic claws into, and the global oil cartels had not been able to rob and plunder the oil fields.  Obama has simply picked up the one world government mantra and moved forward at great speed deconstructing the United States

We are watching in horror the fundamental changing not only here at home but around the world as the one world government begins to be assembled.

AND:

The Flight plan

The plan has been for many decades to totally deconstruct the sovereign United States, reducing us to third world status so that no matter how hard we have worked in the past, or how hard we work in the future we will never regain our former stature.  We will never be as free or empowered as a population as we once were.

The coming presidential election means nothing.  Mit Romney, who does not stand a remote chance of even coming anywhere close to winning the election has now been assured the Republican nomination.  This only affirms what I have said in the past: No one wants Obama re-elected more than the GOP does.

Our economy is virtually dissolving before our eyes.  We have 25 million legal American workers out of work with more American jobs leaving the country by the thousands each and every month, never to return.  The whole structure is going to collapse under the weight of ever-increasing and senseless federal spending and we are faced with a debt so massive, so incomprehensible, that it can never be paid off.  The last thing the GOP and Republicans want is for the impending total collapse to be steered by a Republican president.

----------------

You're encourage to go read the rest.

dropout's picture

Cashless

Agree.

Towns and villages in Greece are now using the ancient barter system and by-passing the use cash completely. 

Recently on vacation in Hawaii at a restaurant, when paying the bill with cash, the waiter said, "Oh! Cash. How quaint!" lol  

printmemoney's picture

batteries

Because battery manufacturers are using a new acrylic paint that doesnt increase the life whatsoever....the price has been hedonically adjusted to reflect the tru negative impact on cpi

bullwhip29's picture

@ Dr G

Re: batteries schmateries...

Yup, this is one big scam like printers + toner cartridges (and many other types of electronics). Get the kids hooked on the new, cheap toy and then be forced to have to keep buying the batteries to keep them pacified. So sad...

OrangeAlert's picture

@ink

That short term down-trend line of the past month could go on and on until it hits the 10 year up trend-line.  Then we'll see.  But no worries here.  Temporary without some kind of crazy announcement like Fed increases Fed Funds Rate to 7% from 0-.25%.  Like that would happen.

Turd Ferguson's picture

A Beautiful Silver CoT

MODERATOR

Absolutely beautiful. Patient longs hang in there. We are very close to the edge of the next BIG move UP.

The gold CoT data is inaccurate and needs to be restated. Keep an eye out for a revision.

Mudsharkbytes's picture

Toner cartridges, okay, inkjet - total ripoff

I WISH we had a printer that used a toner cartridge.  At least with those you can print enough sheets to break even when compared with taking your job to Kinko's.

Ink-jets blow colored ink out even when only printing in black and white, at least ours does.  Not only that, print much at all and you're back to the store buying more ink-jet cartridges at around $15 a pop WEEKLY.

At least our new printer lets you keep printing even if one of the cartridges is low.  The last one we had would just refuse to print if one cartridge was low until you replaced it, so even if all you were printing was b/w and you didn't care if your print job had its little dose of yellow, you STILL had to go buy a yellow cartridge anyway.

Now that people have gotten wise to the scam and are starting to refill their cartridges for pennies on the dollar, they're putting CHIPS in the cartridges that need to be reset or the cartridge will tell the printer it's empty even though it's been refilled.

Any more if I have a job that requires very much printing, I just put it on a memory stick and run down to the corner print / copy shop where they'll run off copies for 4¢ each - a substantial savings over buying inkjet cartridges all the time.  The only use our printer gets any more is when my son needs to print off some homework.

GoldMania3000's picture

A Beautiful Silver CoT

these frickers help me lose thousands of dollars in trading..frickers.  im joing in the lawsuit. and will go directly at Blyth.  it will be made up in other ways i know.  let the comex die. die i say 

SRSrocco's picture

REPLY....THAT NASTY EROI

A REPEAT POST FROM THE PREVIOUS BLOG:

Fritz.... thanks for the informative response. I would appreciate you giving us a few words when you get back from your trip from the mine this fall. That's nice there is some underground water to utilize for the mine. Yes, the Saudi's did tap into their underground water aquifers to do a sweep of their oil fields. However, they have had to resort to using seawater as this underground water supply started to dry up.

Furthermore, it is not the price of diesel or the price of coal that will be a problem (to some degree... yes) for the mining industry going forward, but rather the AVAILABILITY OF SUPPLY. Ironically, I am currently writing an article (as we blog) for the WORLDBIZ MAGAZINES on this very subject.

In 17 years the OYU TOLGOI mine will need upwards of (55) 220 ton haul trucks that consume upwards of 50 gallons of diesel an hour, 1,000 gallons a day, and nearly 350,000 gallons each a year. If we assume that only 50 trucks will be running at a given time we have the following:

50 X 350,000 gallons = 17.5 million gallons of diesel per year

....and this is just for the haul trucks alone. By the 17 year mine plan it will occur at or about 2030. Forecasts for Saudi Arabia net oil exports are to decline to nearly ZERO by 2035. Where on earth is OYU TOLGOI MINE going to get their diesel to run this mine?

Metal and Mining analysts for the most part are completely clueless to this phenomenon of declining net oil exports. I believe we will see a BIG change of FACE by the mining industry in the next several years.

ivars's picture

"Know ye then, O Sons of

"Know ye then, O Sons of Science, there are seven bodies, of which gold is the first, the most perfect, the king of them, and their head, which neither the earth can corrupt nor fire devastate, nor the water change for its complexion is equalized, and its nature regulated with respect to heat, cold and moisture; nor is there anything in it which is superfluous, therefore the philosophers do buoy up and magnify themselves in it, saying that this gold, in relation to other bodies is, as the sun amongst the stars, more splendid in Light; and as, by the power of God, every vegetable and all the fruits of the earth are perfected, so gold by the same power sustaineth all."

'AUREUS,' Or The Golden Tractate

garrylindsay's picture

X

X

cpnscarlet's picture

Only Solution Versus Insnaity

Yes, we are all going "crazy" lately and look like fools to some. Turd, why don't you just change your name to Shit Ferguson for the time being and we'll all be Shitheads here in Shitville.

But still, don't get carzy, get angry. Let the righteous anger against the elites and TPTB bubble and simmer to a creamy consistency to prepare for that day when we may need the motivation to do a man's job in this crazy world. I'll say no more.

Even after a day like this - SHOW ME A BETTER PLACE TO PUT MY MONEY OTHER THAN PMs!!!

California Lawyer's picture

"ALGO" - Acronym

Age of Lies, Greed and Obfuscation.

There, fixed it for you, Turd.

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