Gold Surges To Two Weak High As $1,400 Level Exposes Many To Pin Risk

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Tue, 12/28/2010 - 09:37 | 833051 10044
10044's picture

Reverse H/S completely visible 1372 support

Tue, 12/28/2010 - 10:13 | 833125 Turd Ferguson
Turd Ferguson's picture

I wrote about this possibility last Friday. To save duplication of effort, a link is posted below.

Take a look at these weekly charts. If the pattern holds, these next three weeks should be rather exciting:

Tue, 12/28/2010 - 10:23 | 833159 Spalding_Smailes
Spalding_Smailes's picture

Dead cat bounce ... :-)

Turd, just buy AIG or JPM. Ride the wave.

Tue, 12/28/2010 - 10:42 | 833194 Pladizow
Pladizow's picture

So deal then? - I'll give you my processed cotton pulp and you give me your gold!

How does it feel to have the value of a lifetimes worth of your labor, reproduced thousands of times over, in miliseconds by the Fed and given to the people that Fucked us all?

Tue, 12/28/2010 - 10:47 | 833217 Caviar Emptor
Caviar Emptor's picture


Tue, 12/28/2010 - 15:16 | 833977 Turd Ferguson
Turd Ferguson's picture

After today's action, please be sure to read this:

Tue, 12/28/2010 - 11:10 | 833297 Snidley Whipsnae
Snidley Whipsnae's picture

+10 to the tenth...

Tue, 12/28/2010 - 11:16 | 833322 Jay Gould Esq.
Jay Gould Esq.'s picture


Tue, 12/28/2010 - 11:42 | 833422 blindman
blindman's picture

Gee, You Can't Make This Stuff Up


Donnerstag, 23. Dezember 2010 10:23 .... ..

"Max Keiser

Max Keiser is a former stock and options trader on Wall Street, founder and former CEO of the Hollywood Stock Exchange, and the host of the “Keiser Report“/“On the Edge“ (see for more at:

“As I pointed out a few years ago when John Poindexter wanted to launch PAM (Policy Analysis Market) that would allow the Pentagon to 'make a market' on how many people they were killing in the 'war on terror' they started - and cash in on side derivative bets - there is no stopping market fundamentalists and their unholy quest to annihilate themselves and others for a quick profit. Remember, brokers working in the Twin Towers were buying put options on airline stocks the day they killed themselves.“ii

"William K. Black

Bill Black is a former banking regulator, author of “The Best Way To Rob A Bank Is To Own One,“ and an associate professor of economics and law at the University of Missouri-Kansas City.

“It's not only destructive, it's useless -- it cannot add any value to society. It's worthy of the last years of the Roman Empire in terms of depravity and coarsening of life and rspect for people.“

I personally was reminded yesterday also on this statement by Marshall Auerback from a year ago:

“If the sociopaths who created this crisis are the best that the financial community can find, it would be better to shut down the western financial system as we know it rather than to keep them in charge.“iii

Shut it down."

Tue, 12/28/2010 - 10:50 | 833219 HarryWanqer
HarryWanqer's picture

Agreed. I don't see how these price levels in gold are sustainable.

Tue, 12/28/2010 - 10:54 | 833236 Temporalist
Temporalist's picture

You wouldn't see your nose in front of your face if your masters didn't tell you it was there first.

Tue, 12/28/2010 - 11:22 | 833251 Cognitive Dissonance
Cognitive Dissonance's picture

Wanqer.......too funny.

Gold price levels would be sustainable if only the Fed supported PMs like they support the stock market.

Tue, 12/28/2010 - 13:26 | 833717 Problem Is
Problem Is's picture

Wanqer... LOL
Now I can tell whether you are talking about Wanker Timmay or Wanqer Harry...

Tue, 12/28/2010 - 11:00 | 833252 Pladizow
Pladizow's picture

How can you not see how?

At least four TRILLION additional dollars have been magically conjured into existence (plus all the other global currencies in which gold is priced), yet the supply of gold, at best remains constant.

But then you probably didnt see at $250/oz 350, 450, 550, 650, 750, 850, 950, 1050, 1050, 1150, 1250, 1350 .....................

Tue, 12/28/2010 - 11:38 | 833398 ejmoosa
ejmoosa's picture

Yet how many trillions of dollars were wiped out of existence with the plunge in home prices?


Certainly that has negated some of the effect of the trillions in additional dollars injected?

Tue, 12/28/2010 - 11:42 | 833414 Pladizow
Pladizow's picture

The canary is looking pale.

Gold is sounding a very loud alarm - ignore it at your own peril!

Tue, 12/28/2010 - 13:25 | 833711 doggings
doggings's picture

the canary was getting excited here, it's hanging upside down off it's perch by one leg now.

"it is an ex-canary.."  :)

Tue, 12/28/2010 - 15:54 | 834086 akak
akak's picture

Yet how dollars were wiped out of existence with the plunge in home prices?

Ah, another misled disciple of Deflationary Denninger!

Actually, NO dollars were "wiped out of existence" when overinflated house prices crashed, as HOUSES ARE NOT MONEY!  God, how many times are you deflationary flat-earthers going to make that fundamentally incorrect and frankly idiotic assumption already?

Tue, 12/28/2010 - 20:02 | 834717 StychoKiller
StychoKiller's picture

Tell it to those trapped in underwater mortgages.

Tue, 12/28/2010 - 18:12 | 834487 Drachma
Drachma's picture

Shadow banking liabilities bitchez!

Tue, 12/28/2010 - 11:10 | 833287 Snidley Whipsnae
Snidley Whipsnae's picture

Harry, you 'just don't see' anything. period.

Where are all those that proclaimed 'gold is trading sideways'? Now that expiry is near it seems to be stepping lively, no?

Tue, 12/28/2010 - 11:22 | 833350 Cognitive Dissonance
Cognitive Dissonance's picture

This is Wanqer.

We have been Wanqered. :>)

Tue, 12/28/2010 - 11:26 | 833361 Snidley Whipsnae
Snidley Whipsnae's picture

Wanqered...I like it! :)

Is he/she a Brit?

Tue, 12/28/2010 - 11:28 | 833365 Pladizow
Pladizow's picture

Its Hairy Wanker - Not Harry Wanger.

Tue, 12/28/2010 - 11:39 | 833408 Turd Ferguson
Turd Ferguson's picture

Harry just can't help himself. NFLX and AAPL are that which are unsustainable.

Btw, how many you realize that silver has yet to close above $30? (post 1980)

We traded above 30 two days straight three weeks ago but closed at 29.74 and 29.78. Watch for a close above 29.78 today or later this week as your sign that the next UP leg is beginning. More here:

Tue, 12/28/2010 - 12:54 | 833653 Temporalist
Tue, 12/28/2010 - 13:09 | 833671 Bay of Pigs
Bay of Pigs's picture

The education continues Turd. I will say it again, silver is cheap at these levels. $50 is the next and last barrier to crack (nominal terms, not real), and then its.....BLUE SKY. Triple digits is not a crazy or outlandish forecast. 


Tue, 12/28/2010 - 15:16 | 833964 Turd Ferguson
Turd Ferguson's picture

<double post>

Tue, 12/28/2010 - 11:37 | 833394 Temporalist
Temporalist's picture

Damnit!  Foiled again by those meddling kids!

And I was all set to tell the Wanker about AAPL:

Apple Sued For Giving User Info To Ad Networks

Tue, 12/28/2010 - 11:46 | 833431 Cognitive Dissonance
Cognitive Dissonance's picture

I'm sure somewhere along the line Apple users agreed to this abuse. You know what I'm talking about. When you install their software or buy one of their products, there's that "consumer agreement" disclosure that runs 50 pages that you never read but always agree to.

Tue, 12/28/2010 - 11:52 | 833452 Temporalist
Temporalist's picture

I have never purchased one of their products.  I don't like overpaying for my zombification.

Tue, 12/28/2010 - 12:44 | 833628 Cognitive Dissonance
Cognitive Dissonance's picture


Zombification on the cheap. That makes you a smart shopper.

Tue, 12/28/2010 - 12:09 | 833502 Freddie
Freddie's picture

It is not that gold is going up - it is the dollar becoming more and more worthless.  Thank The Ben Bernank.

Where does Tyler attract these idiots? Last night it was the Al Gore Global Warming moonbeam zombies.  Geez.

Tue, 12/28/2010 - 12:27 | 833569 rosiescenario
rosiescenario's picture

Absolutely correct...lets look at food and fuel prices in $$ versus gold....did gold really "go up"??


IMHO you need to own the mining companies producing gold and silver to actually "make money" on this...they have leverage. Owning the metal itself just gets you even.

Tue, 12/28/2010 - 12:29 | 833577 66Sexy
66Sexy's picture

go short then.

Tue, 12/28/2010 - 12:43 | 833627 Astute Investor
Astute Investor's picture

Agreed. I don't see how these price levels in gold are sustainable.

Let me fix it for you.  "I don't see how these price levels in small, home discretionary items are sustainable."

Tue, 12/28/2010 - 13:43 | 833742 The Profit Prophet
The Profit Prophet's picture

Do you mean the dildos Wanger sells?....agreed.

Tue, 12/28/2010 - 13:43 | 833743 The Profit Prophet
The Profit Prophet's picture


Tue, 12/28/2010 - 15:05 | 833932 saulysw
saulysw's picture

DP = Duplicate Post or DP = Double Penetration ?

Tue, 12/28/2010 - 16:40 | 834197 TeMpTeK
TeMpTeK's picture

What do u mean?... $1400 is the new $140

Tue, 12/28/2010 - 12:21 | 833550 66Sexy
66Sexy's picture

just close your eyes and buy something, throw darts at a dart board, it dont really matter what..

just not shorts...

money is coming in from china and it need a place to rest; because if asset appreciation slows they dont want to sit in CD's where they get an extra .25 interest rate now.

liquid assets and cash. that means avoid heavy debt based assets and stick with stocks, metals, tangibles.... because the hyperinflationary depression is coming as gas prices rise and confidence plummets.

great for wall street... not so good for the average american on a fixed income who only have a house as an "asset".


Tue, 12/28/2010 - 14:27 | 833829 DosZap
DosZap's picture


Right on.

China,India,Russia, all the PacRims are dumping dollars as fast as they can for Gld/Slvr hand over fist, and hard assets.

Anything but HOLD FRN's.

While nero is jet setting kissing ass, the Asians are getting value for shit, and when the payday hits, the Bernank, will shite himself.

No more QE's?,wait till the Chinese TBills and Bond FRN's come home to Roost.

Also, as usual, one step ahead,they have/are in the latter stages of Carrier Busters,one shot one kill.

Why build them, worry about them when you can sink them at the push of a launch code.

Tue, 12/28/2010 - 12:24 | 833558 The Count
The Count's picture

call me stupid, no problem, but i refuse to participate in any fabricated, brainless & bogus rally like AIG.

Tue, 12/28/2010 - 12:59 | 833634 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I recomend you begin to read my blog, Turd's blog, and that you put down the lifesize pic of Robo and roll up your sleeves.  With skill a trader can make cash, but what will you do with that cash when silver is $500 per?  You should read the article I posted last night about how we would see a huge bounce today.

For example I think SLW is priced well here, at $37, and I think it will only take two or three days to get the price to $46.  The move may have started already.  Today's price action saw SLW move bottom to top with high velocity.  If Tomorrow and Wednesday can play out, we could be at $46 soon.

The Next Move for Miners:

Tue, 12/28/2010 - 13:25 | 833712 NewThor
NewThor's picture

What will I do with Cash?


That sir, is a dumb question.


I will load up my wheelbarrow and take it for a spin, baby!


Go Long Wheelbarrows Bitchez!!!!


Tue, 12/28/2010 - 13:27 | 833720 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Never get between a man and his wheelbarrow.

Tue, 12/28/2010 - 13:35 | 833730 NewThor
NewThor's picture

Don't make fun.

My wheelbarrow has an Onstar system, shiny phat rims and two dvd players in

Tue, 12/28/2010 - 14:34 | 833855 Mariposa de Oro
Mariposa de Oro's picture


What about little gold colored, fuzzy dice hanging off the handles?


Tue, 12/28/2010 - 18:39 | 834554 Dollar Damocles
Dollar Damocles's picture

Where is Johnny Bravo anyway?  He was more interesting...

Tue, 12/28/2010 - 15:14 | 833967 Turd Ferguson
Turd Ferguson's picture

After today's action, I fell this new update is very important:

Do NOT follow this link or you will be banned from the site!