Before we get to the chart, I must say how wonderfully gratifying this is. If you've been messing around with PMs as long as Turd has, you'll feel the same way. For as long as I can recall, Blythe, her monkeys and the rest of the EE have periodically raided the gold and silver pits in order to restrain price. Historically, they would simply raid, set off a bunch of stops and then let Mother Nature take over. The cascading, waterfall-like selling would so thoroughly discourage even the strongest of longs that the PMs would take months to regroup and recoup. HAHAHAHAHA! NOT ANYMORE!
Behold one of the prettiest things I have seen in a while, the March11 silver hourly chart:
Its time for lunch so I have to stop for now but I intend a more comprehensive weekend/holiday wrap-up for later today. In the meantime, I leave you with this little ditty of holiday cheer:
http://www.hulu.com/watch/115716/saturday-night-live-seasons-greeting-from-tarzan-tonto-and-frankenstein
Exactly the same chart I've been watching, thanks!
ReplyDeleteMr T,
ReplyDeleteCan you say springboard to $35?
You are spot on as always. All my love to you and yours! Merry Christmas.
Death to the NWO!
It is good to see that Blythe's tactics of intimidation have limits, but I won't forget Pearl Harbor Day anytime soon. And we have yet to recover 7DEC price levels in silver - so she has at least been successful in slowing down the rally since then.
ReplyDeleteThanks for everything, Turd, and Merry Christmas.
See my spreadsheet link, I've updated the Open Interest and Volume numbers from the NYMEX for today. Note that silver open interest futures contract is getting larger again (right hand column, green). Also, the GLD/SLV ratio has slipped below 47, on its way, hopefully to its rightful place of 10 to 17.
ReplyDeleteclick here for google spreadsheet
I can ony agree - if HUI closes above 565!
ReplyDeleteTurd, Merry Christmas.
ReplyDeleteTo everyone else, please Feed the Turd if you haven't already.
God bless us, everyone.
Thank you Turd and Merry Christmas to you and your family.
ReplyDeleteTurd or anyone else help : GDXJ down 8% in 2 days. Can anyone find a reason why I shouldn't be buying more?
OK, regarding the SIVR ETF, it's Custodian is none other than HSBC! The second largest supplier of physical paper on the COMEX, next to JP Morgan! So Sprott's PSLV appears to me, anyways, to be the only independent fund that holds physical silver that is not in the "gameplayer suppressor swapping shorting" category that SLV and SIVR. JMHO of course..
ReplyDeleteGG, it just might have something to do with the $2.93 dividend at the close yesterday.
ReplyDelete@GG - perhaps because the trend-line and the 20dma and the 50dma have all been taken out. Not to mention the MACD divergence. The weekly chart looks weak too. I personally wouldn't touch it yet, but that's just me.
ReplyDeleteThanks Duke. I wasn't in this one for the dividends do a surprise. A huge yield.
ReplyDeleteThanks RoCoach
I recently told a co-worker I was acquiring physical PMs. He looked at me like I was nuts. I told him I also pay $500/yr for life insurance, but there's only 0.2% chance I'll kick the bucket anytime soon. Why would I waste my cash on such low probability. The only person I trust in the media is Peter Schiff, and he is forecasting inflation. Therefore, I'm purchasing insurance against it. The probability seems higher than 0.2%. If it doesn't come, then no big deal. My monthly bills should stay the same, and I'll keep allocating a bit to my 401k. But if it does come, I want to have the insurance. This is why these ups/downs each day aren't going to shake me out.
ReplyDeleteHear hear JC,
ReplyDeleteI sat my parents down yesterday and convinced them to start a "hedge room" using a small percentage of their assets. That is, a corner of the basement with coins, guns, food, water, etc. Considering how inexpensive all these items currently are, it seems silly to not just take the hedge.
It's quite sad actually. They have been promised pensions & social security, but they agree: the only options we have are renege on those entitlements, or pay them out in comically devalued dollars. They're pretty much screwed, but it hasn't sunk in yet.
I'm new to the game, and I don't have the luxury of space (NYC, LOL) so I'm taking the paper hedge. On every big dip, throw another thousand in the PM/Food/Energy pool. Keep um coming - P&L isn't a concern for that account.
EE have been capping the price of silver ($30) and gold ( 1390) for the past two weeks .This is as desperate as they have been in quite awhile .They seem to always do this when the markets are thinly traded ,like the last few weeks.
ReplyDeleteHaving this much control means they will probably attempt to take down silver big time on Monday ,since it is the last day for trading JAN comex options-I sold my postions yesterday and hope to get back into silver at a big discount--but as they say anything can happen
Turd, do you suppose the BoS just wrote some Buy the Dip algos and went home for the holidays?
ReplyDeleteDan, I think the BoS is actual people doing actual accumulation. Not mgd $ algos. The BoS are standing sentry against the EE and blunting their attacks before they can even get rolling.
ReplyDeleteThey've been unbelievably efficient this week, especially today. Almost like they're trying to remove these raids from Blythe's arsenal.
ReplyDeleteHey Turd,
ReplyDeleteLove the BLOG. Keep up the good work. I have been sending links out to all my friends to educate them.
I have a question for you and everyone else. How much physical is enough?
I have been very blessed in my career due too hard work, honesty, and integrity in running my business which allows me to purchase what might be considered large amounts of physical. I have been buying since before the first crash and now I have two rather large safety deposit boxes stuffed full of both gold and silver. I am to the point now were I am asking myself is there something wrong with me? I am too the point now were instead of holding cash in my money market I just go out and convert everything to physical. Pretty much betting the farm on this one and in need of a 3rd box.
NB, that's a toughie as the answer is specific to each individual. I like to think that gold is for wealth preservation and silver is for day-to-day currency. You need to hold both but how much and in what % is an entirely personal decision.
ReplyDeleteNorthern Border, I'm sorry, I didn't quite catch your address.
ReplyDeleteNB, on a more serious note, you have other decent options. The "right" miners could actually be like owning the physical x10 or more. One of Turd's recommendations, and one I have kind of bet the farm on myself, is TRE. This is the big guy's ( Jim Sinclair ) "Grande Finale" as he puts it.
ReplyDeleteI'm headed right now, but I'll provide the board the synopsis of some arduous deep DD I've done.
Ciao.
The address is:
ReplyDeleteAR-15 Trijicon Street
Northern Border USA
Right now my holdings in physical are equal parts silver/Gold in terms of dollars and not quantity.
Pat , TRE?
ReplyDeleteTanzanian Royalty Exploration GG.
ReplyDeleteThank you George
ReplyDeleteI've always figured that if anyone knows how to develop an exploration company into a junior and then a major, it would be Santa. Therefore, I own TRE and, under no circumstances, will I sell.
ReplyDeleteJust got home from a Xmas party- will post a bulletized TRE synopsis manana. Hopefully that will lead to to others posting about their picks.
ReplyDelete