Fri, Mar 9, 2012 - 11:04am

Getting a bit of a late start today so I'm just cobbling together a post so that everyone has a new thread to play with.

I must say that the biggest disappointment in the BLSBS report this morning was The Coug's new hairstyle. She's kind of gone with a new, old maid school marm look. Ick. If she continues down this road, she'll need to be renamed. The Shill was his usual keynesian self and, because the imaginary numbers were so bland and uneventful, the LSHI never reached higher than about a 3. Yawn.

Ah, but all of this was more than enough "cover" for The Forces of Darkness. Immediately following the release of the report at 8:30, The Monkeys were set loose from their cages and, over the next half hour, gold was clipped for $25 and silver beaten for nearly $1.

Rather significantly, though, our erstwhile support levels held once again. Note on the charts above that gold reversed right at 1680 and silver never even made it to $33. And now, we are in the midst of some full-blown FUBLSBS rebounds. The main thing to watch today will be the closing levels. If silver can move back toward 34 and gold toward 1700, we will have dodged another bullet from the Cartel's gun. If things could really get going, we'd have a shot at a "green" week. Gold closed last Friday at 1710 and silver closed at 34.53. It's probably a pipe dream...but...to reverse and close positive for the week would be a very significant development. Hey, a guy can dream, can't he? Anyway, those are at least some levels to root for today. We'll probably have a positive Globex trade this afternoon, too, as there is a nearly 100% chance of seeing significantly improved CoT reports for both metals.

That's all for now. Have a great day and smile knowing that this week could have been a lot worse. TF

About the Author

turd [at] tfmetalsreport [dot] com ()


Mar 9, 2012 - 12:14pm

And you get all of his

And you get all of his helpful info for just $75/month!! What a deal!!!

Mar 9, 2012 - 12:14pm
Mar 9, 2012 - 12:16pm

Mar 9, 2012 - 12:18pm
Mar 9, 2012 - 12:19pm


Decisions.........Let's see here;

Goat or girl.................................Goat

Goat or house...............................Goat

Goat or food..................................Goat

Goat or Silver........................Silver ~!?

YIKES, Man that's too much commitment for me to handle~!

Mar 9, 2012 - 12:20pm


with the LIESman Shiny Head Index (LSHI) at about a 5.

Mar 9, 2012 - 12:28pm

Clive Maund's charting

I find it telling that Clive Maund simply ignores that spike down to 26.15 on 9/26, preferring to draw his line across the support at 28.50. I call this interpreting the f-ing data to fit your thesis. You just can't ignore that long candle wick! The fact that the price rebounded so fast indicates heavy purchasing. That was the true bottom that week. Those two low points on 9/26 and 12/29 form a perfect double bottom, and you know what they say about a double bottom here on Turd's site...

Mar 9, 2012 - 12:30pm

@adrock - Due Process

Thanks for sharing that video adrock, great stuff. Everyone in America should be required to watch and understand. We truly have our priorities backwards right now. Crazy.

momac Kuchek
Mar 9, 2012 - 12:32pm

how's the market for collector's cars???

are prices staying pretty level? I have my 66 mustang convertible consigned with a collector car auction being held in april. It's a no reserve auction so I'm kind of freaking out.

Mar 9, 2012 - 12:32pm

WIndow Dressing or Real Attempt?

Dems Introduce Legislation to Repeal Indefinite Detention of Americans

Sen. Mark Udall (D-CO) and Rep. Adam Smith (D-WA) have unveiled legislation in the Senate and House which would ensure that any individual detained on U.S. soil under the Authorization of Military Force (AUMF) has access to due process and the federal court system. The bill would repeal the provision in the National Defense Authorization Act of 2012 that requires the military to detain on U.S. soil any individuals suspected of terrorism.

rest of article: https://www.shtfplan.com/headline-news/dems-introduce-legislation-to-rep...

Mar 9, 2012 - 12:36pm

As usual

The Judge nails it.

Mar 9, 2012 - 12:41pm

Kuchek sells Rachel to highest bidder !

Nice car ! Just curious.....could you have purchased more gold with the money you paid for Rachel when you bought her....or can you buy more gold for what you sold her for now ? I'm sure Rachel went up in fiat....how did she fare in Gold ? No wrong answer ! Monedas 2012 Market Perspective Snap Quiz !

Mar 9, 2012 - 12:54pm

Pay to play

How long before pay to play is enacted? I'm really itching to feed the Turd but don't want to be left out in the cold if I feed the Turd then have to pay a subscription.

Mar 9, 2012 - 12:55pm
Mar 9, 2012 - 12:58pm

Nice Rally in Gold and Silver!!!

Although the positive unemployment report may have added doubts to more quantitative easing from the Fed, investors are not forgetting about the current easing in the form of record low interest rates and the Fed’s pledge to keep them low until 2014. When asked about another QE program, Presidential Candidate Dr. Ron Paul said, “When you keep interest rates at zero percent essentially, isn’t that a bit of quantitative easing? It’s the policy that has not changed and its not likely to change. The whole concept is wrong, there’s a lot of credit out there being allocated by Congress and the Federal Reserve and it completely distorts the market.” Paul is pleased with the improved unemployment report, but goes on to explain the he believes the improvement will be temporary and the U.S. will continue with its course of structural unemployment.


Be Prepared
Mar 9, 2012 - 12:59pm

The Director of the FBI should be fired...

There should not be a moment's hesitation.... there should never be a lack of clarity...... An American Citizen is above the government that serves him or her..... A government, at any second, that believes it can kill its own citizens without charge... without due process.... has ceased to be the People's Government.

The comment that the FBI Director was worried about his job by contradicting his boss Eric "The Betrayer" Holder.... what person, who has sworn to uphold the Constitution, would ever even consider such a heinous act. It is odious to all that we say we hold true about ourselves.....

.....the sad days of this Republic seem to be able to find new lows of sadness.....

Mar 9, 2012 - 1:00pm

ISDA announcement 1 PM?

Look for gold and silver to take off large. People want to know why?

* Everybody short PM's trying to get long. Cartel going long, specs realizing they are on the wrong side of the trade

* Headline effect of first soverign default in EU . Contagion fears

* Realization that Fed *IS* going to do QE3 afterall. (sterilized or whatever) Recall, we never did get a bounce from that.

* Value buyers

* The catch up effect in prices from all the phyzz purchases on the LBMA that the London Trader talked about

So we have the perfect storm on the long side: fear, value, headline as a catalyst, short squeeze. All good!!

Mar 9, 2012 - 1:04pm
Mar 9, 2012 - 1:05pm

Gold can't Loose! WIN/WIN

With the Greeks announcing approval of the CAC clause on their debt;

If this is deemed a credit event, then money printing and bailouts will go ballistic.

If no credit event - then bond rates will skyrocket, forcing the ECB/FED to print like crazy and buy bonds to suppress the rise in rates.

Gold can't loose!

and silver too!

Mar 9, 2012 - 1:07pm

You and everyone else, it

You and everyone else, it seems.

But I don't blame you. The "TA subscription" component of this site should be "live" by April 1. One thing I can assure you, however, the cost will be considerably more affordable than a service like old Clive's. Considerably.

Mar 9, 2012 - 1:07pm

It's only the start

Video unavailable
Mar 9, 2012 - 1:08pm

Let's hope so.

Frankly, I would settle for a close above $1710. When I typed this post, a move above 1710 seemed out of the question. But now...(fingers crossed)

Mar 9, 2012 - 1:10pm

It's spring and St Paddie's is just 8 days away

The Turd, for one, is READY!

Video unavailable
Santa's Elf
Mar 9, 2012 - 1:14pm

@ Turd

No St. Paddie's day prep is complete without a little Dropkick Murphys:

I'm Shipping Up To Boston - Dropkick Murphys
Mar 9, 2012 - 1:14pm

Keep stacking

For an anniversary present for 'she who must be obeyed'. A pair of these lovely’s. :-)

Mar 9, 2012 - 1:18pm

ISDA and price of Gold

I don't understand how a declaration of "no default" by the ISDA is directly positive for gold prices.

If the CAC allows Greece to NOT make payments it would otherwise have had to make, "future money" that the bondholders would have gained in the future will not come to them. Less money (comparatively) in the future is deflationary, right?

Also, if the ISDA then gets to declare that no default took place (because the CAC is "voluntary", the bondholders collectively voted to allow this payment reduction), the CDSs do not trigger. That is also money that would otherwise have had to "exist" now does not have to exist. That by itself is not deflationary, but it isn't inflationary, either. No "new" money will need to come into being (as a direct consequence of Greek bond deals).

Neither of these items dilute the Euro, so the flight to alternative currencies should not take place, right?

I'm not suggesting that other forces won't cause the liquidity spigots to open again, I just mean for the current moment, and the current concern of the Greek deal, this action won't be positive for gold (unless I'm missing some other factor, which is likely).

dmanson Santa's Elf
Mar 9, 2012 - 1:21pm

Ahh the Dropkick Murphys!

Saw them in San Francisco last year. Right up in the front. WOW. Really put on a fantastic show. Needless to say, they poured me my pain in a dirty glass!

Mar 9, 2012 - 1:22pm

Paid Subscription


remeber the debit card stuff..besides kindly remeber the fact that you have followers in India too..wher $1 =Rs 50

Mar 9, 2012 - 1:22pm

Who defines one as the enemy?

and who defines where the battlefield is.

Thank you adrock. Now you’ve got me riled up!

At 2:54 - 3:12 in the vide you posted above, Judge Andrew Napolitano said, “What’s the difference between killing an American with a drone in Yemen and killing an American with a drone in Peoria? Nothing! Same argument that Eric Holder made at the Northwestern Law School on Tuesday about Al-Awlaki in Yemen could be made about somebody in Peoria tomorrow.”

This statement caught my attention as a rhetorical theorist. What he is explaining her is what I call an argument formula, also called argument topoi—places where one generates arguments. This one is a classic: From authority—Arguing from a previous judgment about the same or similar matter.

This extension of an argument formula is far more dangerous than a “slippery slope” fallacy.

The point here is that when our leaders start using precedents like this, then extending them, and drawing their arguments from a classic argument formula, then we really have turned a corner. These argument formulas, once used and accepted for a particular issue, shape public thought on the issue in with a powerful and simple logic. It constrains decisions and behavior according to that formula. As a scholar of persuasion, this one scares the hell out of me.

These things just look evil. Without the windows for the pilot, it reminds me of Jason with his hockey mask, a faceless psychopathic killer.

Target acquired. weapons armed. launched, target terminated.

It is so sanitized, death so distant from the finger on the trigger. And my son trains for using these weapons on his video games.

Mar 9, 2012 - 1:27pm

@ Vic

Uncertainty. Pure and simple. Those with 'irons' in the fire are becoming VERY jittery.

Any small shake up will cause flows into the ultimate safety of gold and to a lessor extent, silver.


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Key Economic Events Week of 4/15

4/16 9:15 ET Cap Util and Ind Prod
4/17 8:30 ET Trade Deficit (Feb)
4/17 10:00 ET Wholesale Inventories
4/18 8:30 ET Retail Sales (March)
4/18 8:30 ET Philly Fed
4/18 10:00 ET Business Inventories (Feb)
4/19 8:30 ET Housing Starts and Building Permits

Key Economic Events Week of 4/1

4/1 8:30 ET Retail Sales (Feb)
4/1 9:45 ET Markit & ISM Manu PMIs
4/1 10:00 ET Construction Spending (Feb)
4/1 10:00 ET Business Inventories (Jan)
4/2 8:30 ET Durable Goods (Feb)
4/3 9:45 ET Markit & ISM Services PMIs
4/5 8:30 ET BLSBS

Key Economic Events Week of 3/25

3/26 8:30 ET Housing Starts (Feb)
3/27 8:30 ET Trade Deficit (Jan)
3/28 8:30 ET Q4 GDP final guess
3/28 10:00 ET Pending Home Sales (Feb)
3/29 8:30 ET Personal Income (Feb)
3/29 8:30 ET Consumer Spending and Core Infl. (Jan)
3/29 9:45 ET Chicago PMI
3/29 10:00 ET New Home Sales (Feb)