Although he is extremely bullish over the long and intermediate term, ‘Turd Ferguson’ of TFMetalsReport tonight issued a ‘Cartel Raid Watch’ for gold and silver, as TF believes a cartel raid in the metals over the next week is likely.
Recent big moves in both metals, combined with big rises in the commercial’s short positions as well as next week’s big FOMC meeting mean the conditions are ripe for a cartel raid, but will one materialize?
If stackers should be so lucky, be ready to STACK THE SMACK!!
Here in the U.S., we have a government agency that creates the official weather forecast. When severe weather threatens, the National Weather Service issues two types of alerts: A “watch” or a “warning”. In this theme, I hereby issue a Cartel Raid Watch, effective through next Friday, September 14.
My primary concern here is the continued deterioration in the Comex open interest numbers. You’ll recall that the last two weeks of CoTs have been lousy as specs are buying and The Cartels are rapidly creating paper gold and dumping silver longs in order to satisfy the spec demand. I believe that this trend has continued this week and we’ll likely see confirmation on Friday.
One more stout push higher in the gold price will draw in enough new spec money that the ratios will likely reach the levels last seen on 2/28/12…and we all know what happened next. The price of gold fell $77 on 2/29/12 and it kept falling, reaching a bottom of $1614 five weeks later and $1528 five weeks after that.
For silver, things aren’t quite as straightforward.
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/images/live/s_silv.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/images/live/s_gold.gif)
The last week their raids haven’t achieved much. May knock the price back a day at most in my opinion.
Fuckem,let them raid,iam in for the long haul and besides the morgue,the bernak are pissin in the wind.
Wow! looks like we will break over $33.00 an ounce tonight. 8:20pm Hawaiian Time! We have a surge or spike upwards at +.43 for Silver
One more GREAT DEAL would be nice, before the price goes way up and out of range for this average Joe.
Go the Turd!
You have my Turd Vote!
Bring down that Silver, I wanna buy a cheap fat Phyzz Brick!
(~:
I read Turd’s site for several months and he was rarely right about these things, so we’ll see!
If that’s the case then, 27$ per ounce here I come! I was hoping for that ever since silver left 27$ per ounce.