http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/12/24_KWN_Weekly_Metals_Wrap.html
As we enter another holiday-shortened week, I keep thinking about these two charts. I posted them back on Thursday and they've been on my mind all weekend. I expect this week to be mostly quiet. Some rallies, some selloffs but, all-in-all, not too exciting. These charts tell me, however, that both of our metals are poised to blast off when the calendar flips to 2011. The first two weeks look to be powerful, UP weeks. I'll be looking to buy any dips this week as I add to positions that will benefit from the coming rally.
Anyway, here are the charts again for you to review.
Umm have you guys seen this documentary??? *gulp*
ReplyDeletePorter Stansberry Research - The End of America
http://www.youtube.com/watch?v=nI-BIVWlc7A
Under attack at the open.
ReplyDeleteChina raised rate over the weekend so there's an excuse for bear raid tomorrow.
ReplyDeleteI'm thinking we might see a quick raid on Monday and Tuesday on this low volume week. Hoping for it with lots of ammo ready to go. I've got 60% side-lined ready for any large raids.
ReplyDeleteTF, I'm thinking we may see a SLVL physical supply failure in March deliveries if the trends continue. I've observed recently that its becoming more difficult to buy large amounts of silver for immediate delivery and think this will continue since most people are like me. Once you feel the hard and tangible, you buy a lot more!
ReplyDeleteDo you have any take on physical delivery issues?
@chris i watched a lot of that documentary and i think it is pretty good until it gets to the part about bashing socialists for spreading the wealth around. this really isnt the issue and it shouldnt be. many 'socialist' countries are no worse off then 'capitalist' america. the debt went up under bush and 'pro business' republicans as well. the real money printing is done not to help the poor but the corporations and the wars. i.e. it is socialism for 'growth' or big business. that really isn't the same as say, reducing the cost of education or giving people unemployment benefits, spending money on infrastructure etc...
ReplyDeleteI dont want to get ahead of myself but it kinda looks like a FUBM chart is forming ? Again, way to early to call but it has the makings of one.
ReplyDeleteJust watch the supply of 1000 and 100 oz bars at APMEX and TULVING. Tells you all you need to know about physical supply issues.
ReplyDeleteJack, I have been. I've seen the available inventory bounce a few times up very high for a day and then drop again. Its getting harder to find large bars that aren't on backorder. A few weeks ago APMEX had nearly everything of decent size on Mid December through Mid January delivery. Only things like ASEs and other coins were available immediately back then. APMEX also periodically removes their "industrial silver" listing which is just random .999 silver on the cheap due to being low inventory on their site. That isn't to say they list 100% of their inventory on the site though, they could be listing only a fraction of what they really have.
ReplyDeleteIts getting harder to find large bars for me, so that tells me silver is getting harder for them to find too...
Well George I agree that it's not really the issue, nor do I think it is a main driver to what is going on financially. But he does bring to light the many local municipalities that are struggling and if collapse, will start to bring down our entire system. And there is no way to really fix anything anymore except to throw money at it. And the film points out that we have the reserve currency so it automatically carries value. We are devaluing everyone's currency. And once they are fed up, they will toss us off of the boat and there will not be enough cash in the universe to save us. Instead of strategically doing things to give us credibility so that we can maintain our reserve currency status, we our giving the world the finger. Which isn't the best idea, unless they are doing it on purpose. I believe they are and that is what the global currency idea is founded upon. I mean there is no logical reason for our government to allow the Fed to do what they are doing unless it is premeditated.
ReplyDeleteWow, a .40 cent FUBM swing.
ReplyDeleteguys, what is FUBM ?
ReplyDeleteNeil F**K You Blythe Masters....Chris, The only way to pay our debt other than outright default is to devalue our currency and thus pay off todays debt and future liabilities (SS,ect.)with ever cheaper dollars.....George, Not fair to compare our "capitalism" to other countries socialism. Our is anything but a "free" working capitalism. True capitalism out shines socialism every time it is allowed to operate freely. Right now I would say our system is closer to socialism than true capitalism....
ReplyDeleteYea but Jeff, just the interest on our debt is now $450 billion a year and rising. We print money to cover our deficit every month, and now we are printing money to buy our own treasuries that no one wants. Just so we can keep SPENDING. Even if 100% of all income in America were taxed, it still wouldn't be enough to cover are own bills. We are at the point of no return. And instead of the government scaling back spending like they should be, they are ramping up the printing presses into overdrive. No Bueno. We are screwed.
ReplyDeleteI whole hardly agree, we are screwed.
ReplyDelete