Our friend Turd from TFMetalsReport who has made several extremely accurate long-term bottom calls in the past has called a bottom in gold at $1525-$1530.
While ‘Turd’ is confident a bottom was placed yesterday in gold, he states that it is entirely possible the cartel will attempt to engineer one last smash in gold possibly as low as a 14 handle- entirely outside of the London fix hours.
This would enable the bullion banks to accumulate as many new longs as they can possibly induce the specs to puke, while preventing physical metal from leaving the cartel en masse should gold be available in the $1400′s at a London fix.

From TF:

Yes, 1525-1530 is The Bottom. This does not mean, however, that The Gold Cartel will not pick an opportunity to pull their bids and allow the spec shorts to guns the stops below 1525. This could very easily happen and you could see it unfold between London fixes, which is a 19.5 hour window of opportunity.

What I mean is this: Let’s say we get a London pm fix someday soon (10:00 am EDT) at $1540. You get selling almost immediately that accelerates into the Comex close and is aggravated on the Globex and in early Asia trading. Stops are triggered are price falls rapidly on light volume to 1500 or even something that begins with 14. Suddenly this reverses and, before the London AM fix (5:30 am EDT), price is back UP to 1540 and it’s as if nothing ever happened. What has happened, though, is that sell stops were set off and The Cartel was the buyer on the other side. The key determining factor of whether or not this event will play out is the total size and scope of the accumulated sell stop position at and below 1525.

If The Gold Cartel needs some new longs to lessen their risk and the stops are there in sufficient size for the harvesting, the likelihood of the scenario above playing out is high.

  1. Turd Ferguson–Another Day–Another Prediction–My Take On This Is Guessing Games Are Fun, But Predictions That An Event WILL, Or SHALL, Happen are Boring and Even Annoying–But That’s Just Me.

    I believe predictions to be unknowable. The main characteristic of something unknowable is that it hasn’t been invented yet. This might sound cute, but those words are more profound than you might think.

    In order to have even a one millionth of 1 percent edge on a prediction, you must keep track of every known event that is happening in the present that will effect your prediction in the future. Unfortunately, this isn’t possible. Even more unfortunate is that some predictions are correct. This only serves to encourage the “guru” to keep at it–predicting and predicting and maybe even trading–using this profound information until his account runs dry.

    So, for the sole purpose of posting another entry in a blog he owns, the predictor uses yet another new way to say the same thing.

    Saying stuff like:

    “Yes, 1525-1530 is The Bottom….Suddenly this reverses and, before the London AM fix (5:30 am EDT), price is back UP”

    When everything said is “WILL”, “IS”, or “SHALL”, Predictions get old and boring. I play guessing games with this too. But I make it clear that it’s just an exercise in guessing and fun. Certainly, anyone thinking of using this information to make money has got to be ready to be interviewed by this guy at a moments notice:


    Sometimes, when I’m right, it’s fun to look back on what I said before the event occurred, but I think it would become very boring to keep saying certain things WILL happen just for the sake of announcing how right I was. So we come to the moral of the story: Predictions are made so that trash cans have a purpose.

    Well, I Guess Trash Cans Have Two Purposes

     

  2. LOL. Delicious, yes. Mine, no. Great song 427.

    Several people have called the bottom the past week or two. Someone will be right before long. I am not able to call the bottom so I am content to look at one. 

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