Tuesday, February 15, 2011

Blythe Lurks

Sorry for the lack of updates today. Its been a real pisser of a day and The Turd is in a bit of a foul mood.
Thank you for your patience.

Let's start tonight with this:
This is potential excuse #1 for Blythe to raid tomorrow. Be cautious but be ready to buy the dip.

But this notion that the Fed has an "exit strategy" is the ultimate in SPIN. What utter nonsense!! Frankly, any report you see that mentions this BS tomorrow should be noted and filed, the journalist never to be trusted again as that person is either a complete fool or a paid shill for the ponzi.

Here's one of the reasons The Bernank will never be able to stop QE...the long bond chart:
Benny and Timmy would each give their left nut to get this pig back above 119 so it'll probably happen. However, without the Fed being almost the entire bid, the bottom drops out pretty frickin fast and, as we discussed last week, below 115  the entire government/financial ponzi begins to unravel. So, again, QE will never end. Period. Regardless of what anyone in the media says.

Will Blythe use this type of "news" to try to start another cascade of selling? You bet your ass she will! The question is when. The answer is here:
The latest Open Interest numbers only confirm that a raid is imminent. Just don't let her scare you. When she raids, get ready to buy! Price will probably retreat to the 30.25 area and at that point we should turn and jam it right back up Blythe and Ruprecht's arse. IF there is a "WB Group" they almost have to be thinking the exact same thing.

Now lets turn to gold, which is seeing a slow, methodical march away from Turd's Bottom:
Note the "stair" type recovery. A very good sign that genuine accumulation is occurring at these levels. $1390 is the final hurdle but don't get impatient. Trend would suggest that it may take until late this month or early next before we clear that last obstacle. WHEN we do, we will head directly back to the old highs around $1430 and, from there, $1600 by 6/10/11.

Two more things. You no doubt noticed the selloff in everything else today, including copper. Do not let your heart be troubled...yet. As long as we stay within our recent range, ole DrC is not causing any harm to the PM cause. In fact, if it dips toward 448, I'd be a buyer.
And if you ask me, I think the HUI looks great. It closed a shade above the critical 540 level today. A couple more closes above there this week, especially on Friday, and we head straight back to 580. That would be an almost 10% rally from these levels so its definitely something you'd want to be a part of. Watch this index very closely the rest of this week.
OK, that's it. If I'm able to check in later, I will. Have a great evening. Prepare yourself for what could be a wild ride tomorrow. TF


  1. Kiwiquest,

    Re: last post

    Been keeping track of the correlation between AGQ / silver spot and chances are the 140 price you're waiting for might not show up.

    140 AGQ is right around 29.25 spot. Definitely possible, but I know you don't want to miss this next ride up, so in case you aren't keeping track yourself Turd's 30.20 floor would put AGQ at 150. Just FYI

  2. Thanks so much for this post! It presents some real guideposts to look for.
    MUCH appreciated...Am looking to buy more silver so I will be watching closely to the levels you suggested, as well as those on HUI for adding to my GDX.

  3. The US national debt clock claims that 13.4 trillion dollars of debt is owed as of October 2010. There are about 300 million Americans and doing the math, supposedly about $45,000 in debt owed by a US child on the day they are born.

    This appears to translate to about 30 ounces of gold for each person in the country in Federal US government debt obligations in 2011 prices.

    In 1971, the total debt in January 1971 was reported at 390 billion dollars (see ftp://ftp.publicdebt.treas.gov/opd/opdm011971.pdf). With 200 million Americans, this is roughly $2000 per citizen. At $43.00 per ounce of gold, this was about 45 ounces of gold owed by the child born in 1971 at the time of birth.

    It appears to me that if this nation was back on a gold standard, we would need less gold to balance the debt in 2011 than in 1971.

    Someone check my math please.

  4. Turd, I had the same thought when I saw that story about the FOMC mins. If we see a raid at 2pm we'll know. That whore has become uber predictable.

    AGQ is definitely an interesting animal, as are the options on the same.

  5. I am looking for the miners to really take off once we take over 31.24 and the excitement is back on. I think a lot of the market makers have been having the miners (especially some of the speculative juniors) shake out before the next massive leg up.

    Once the market realizes that we are not in a double top (hard to believe it doesn't know that but whatever), there should be fresh action in the mining equities. There is plenty of information spreading around and they will only get more exposure as their returns keep piling on. Look for volume to return when we pass previous highs of 31.24 with confidence.

    I am anxiously awaiting the much anticipated Q4 Reports on a lot of these companies, and hopefully some news on Revett Minerals (one of the best share structures for potential) to make its move onto the Amex. Revett has a lot of room to run, just as GPL does.

    It is important to note that these are producers, and physical scarcity shall increase the liquidity in mining equity in the future, as it will be a direct way to leverage yourself in physical without actually owning physical.

    Do your research now on some of the more speculative stocks, and hansom rewards are coming around the corner.

    Remember though, there is a much bigger thing going on with all this. Do not get lost in profits and prices, as this is signaling the end of the great Keynesian experiment. Times are going to be rough, please keep your mind pure and heart open to those who are going to be lost in the coming days.
    Scott J

  6. Turd :Is there a way on this blog or the new one to number the comments . I sometimes have to leave and it takes a long time to figure out where I was. A numbering system would help.

  7. Flaunt,

    Started trading AGQ options last June. Took some getting used to but you're right - what an animal. These days I feel like I might know what it's like to be The Bernank and have my own printing press. And, thankfully, with Turd's guidance it's only getting better

    I'd love to hear others' opinions on trading AGQ. I feel like I have a lot to share but don't want to bore / take up space if not enough folks are interested

  8. Some added comments to my math on the national US debt in gold... because the US population is 50% larger than 40 years ago, the per capita debt is lower. However, the total amount of gold needed is much higher in total now than in 1971.

  9. Supernova = exploding star. Could be any star. Maybe the Death Star?

    From Turd's Glossary:
    The Death Star: The Comex. This is where the EE wields their power. The survival of the rebellion may ultimately hinge upon its destruction.

  10. SVM question (this got lost at the end of the last thread)

    I forget where I read this, but I seem to recall Silvercorp is the lowest-cost silver miner in the world.

    Currently the only individual stocks I own are SLW (natch), and AG.

    I'm looking at adding EXK and SVM to round out my basket of individuals. (most of my portfolio is AGQ)

    Comments? I mean, is a basket of 4-5 studs really any more risky than SIL?

  11. If anyone hasn't read the Zerohedge post above, please do so. I was just getting ready to post it here. This may be the Fed's time to move on.......scary stuff. It may be smoke but maybe not.
    No one is buying the markets but the FED with our tax dollars and printed money. I have seen many articles of 1000+:1 insider selling on the NYSE, also a month ago was article of 10 billion dollars insider selling. The slow market action lately. China pulling out of the bonds by the billion. Banks aren't giving out the money, do they even have any? The rest of the world seems to be on to the Fed's scheme. IDK this may be it. Hinting now to allow for a exit strategy, before they are sniffed out by the masses?

  12. Silver Supernova -

  13. Pick52-

    My desire for a 140 AGQ level was mostly in jest, there would have to be a huge drop to get that as a dip, and I'm afraid it would only last for about 10 milliseconds before the buying frenzy pushed it back up. But I appreciate you working out the AGQ level for 30.20 silver, I'll probably buy at that level and be happy with it.

    Is there a fixed ratio between AGQ and Silver, or is it constantly drifting because of the "decay" inherent in a double leveraged EFT? It sure would make my life easier to just do a fixed conversion, instead of flipping back and forth between the stock and silver charts like a squirrel on speed.

    And to answer your general question, I love AGQ, with it's high volatility you can almost always find some kind of dip to buy, and it's hard to make a really bad trade...in this upward drifting PM environment if I buy too high, I just wait a week or two and then I'm in the black. My last trade I bought at about 140 and sold today at about 155... pretty good return for a week of sitting on my hands.... ;-)

  14. Catbird-

    I don't think so. Mine looks like this-
    30% AGQ
    25% SLW
    12% SVM
    12% HL
    12% AG
    4% AXU
    4% EXK

  15. jaws, I think it's a bunch of hooey. Exit strategy? What exit strategy?? Surely they're kidding! If they stop buying bonds the bond market will collapse. If they sell bonds the bond market will collapse even faster. What the hell are they supposed to do? They can't jack up rates because that will bankrupt the gov't. Bernanke isn't going to go down at the one who bankrupted the U.S. gov't.

    If I heard a reasonable exit strategy I might believe they were actually talking about it.

    Loose lips Hoenig already admitted QE3 was in the works:


    Oh, and don't forget about all the U.S. states about to go bankrupt. Is Congress and the Fed REALLY going to allow that to happen?

    How do you finance a ponzi scheme without printing money when you're already leveraged to the hilt and the economy is in the shitter?

  16. Strong side: I think you ned to add a zero.
    13T divided by 300M is 450,000 not 45,000.

  17. Quantitative Teasing and the Backward Asians are really messing me up these days. I'm sticking with Turd's bottom for now, anyway....

  18. Catbird

    I had typed up this big long comment for you. And after I previewed it, I just deleted it since it maybe wasn't really helping or making much sense.

    If you like EXK and SVM, just buy 'em and stop worrying!

  19. Yes, Patrick, Turd's Bottom lookin' mighty firm these days!

  20. Pick, I'd be interested to hear more about your experiences trading AGQ. I am new to it. I've only traded SLV options in the past.

  21. Flaunt I know they/we are screwed every which way 'til Sunday. Just a thought this part of the game is over. When the rest of the world figures out "quiver lips" is bi-polar when in front of the camera and really is soley responsible for the worldwide starving, rioting, etc. I see alot more people(articles) are seeing through his straight faced LIES. It would be dramitic, but they could blame martions on the moon and sell it to the people as it would bring more important tasks to peoples attention. They don't even try to hide their wrongdoings anymore and flat out LIE to cover. But listen to the Bernaks stance, everything is great in Bernakinstein. I know your right, but do you trust the Fed/Gov't even 1%.

  22. Kiwi,

    Even though the AGQ is calculated daily it stays consistent enough for me to rely on without fail. The decay is almost unnoticeable when youre talking about a $154 share price

    Here's what I worked out for the last leg:

    Spot / AGQ

    26.50 = 116
    27.00 = 120
    27.50 = 124
    28.00 = 128
    28.50 = 132.50
    29.00 = 137
    29.50 = 141.50
    30.00 = 146
    30.50 = 151
    31.00 = 156

    Granted, I rounded in that chart, but it was close enough to be extremely helpful when deciding which OTM strike to buy. I watch the price all day every session and have been for 7 months

    As far as this next leg, a 150 AGQ is 30.34 roughly. A 10% move from there with silver at $33 would put AGQ at $180. Thing is, you can REALLY make money the further you get ITM. A lot of nervous hands OTM, so I don't try to to stretch my strike above a conservative, realistic spot at all...currently building my position at March $165 and have been since we were back at $28 and change

    I may toss a little at the $190 for fun if we get one more dip. Hope this helps...

  23. Pick52 - I'd be interested as well. I've been trading SLV and GLD options as well, but based on Turd's advice I'm moving over to SI and GC futures options. They are expensive, though, so I won't be able to be as nimble. I'm a member at PSW, but Phil is not a big fan of PMs, so it's not a good place to discuss strategy. Besides that, I feel like I'm learning as I go. I'd love to hear some strategy, especially if it's successful. I was up 15% last Tuesday alone on my trading portfolio, but gave it all back Wednesday-Friday. This week I'm back up and then some. I'm trying to take profits and get back in on the dips. I keep fighting the urge to stay in when it's going well because I know they're going higher, then I kick myself when the dip comes and I'm down $1k.

    My goal is to find some good options that are enough out of the money to be affordable, and yet will pay off big if the metals rise 20-30% by year end (I'm hoping they do more, but I try to be realistic). I followed Turd's advice buying one contract of Apr 11 1400 calls on GC yesterday for $1100, which is up I think $260 today. But I want some longer term calls as well in case it takes a little longer to get up there. I'm thinking staggering five contracts out to December, a little out of the money. That would cost less than $10k total, but control most of the upside on 500 oz, which would cost almost $700k to buy outright. The upside potential seems huge, especially considering the max risk of around $10k. I'd like to do something similar with silver, but haven't gotten as far on that yet.

  24. Turd, if you have a chance, could you give us your rationale for buying Apr 1400 calls yesterday, as opposed to Mar 1365 calls, which I think were both going for around $1100 yesterday? The Apr 1400 calls were up around 20% today, but Mar 1365 were up like 35%. I can see advantage of both, but I'd like to get some idea of what you're thinking when you pick the expiration month and strike price. I have a hard time picking.

  25. Sure flaunt,

    I'm interested to know how long you've been trading AGQ options so I don't end up sounding didactic and telling you shiz you already know

    The one thing I'd say to anyone at first is NEVER go in and buy at ask. Bid just above the last highest bid and WAIT. I can't stress patience enough. You can almost always get a better price than whats offered.

    If your order isn't filled, you're tired of waiting and willing to pay more, inch it up. A lot of times the market maker will come in and try to bait your bid up again by immediately outdoing yours. This happens more the further you are bidding OTM. Don't fall for it. Cancel your order and they will too. You can outlast them and eventually your bid will be hit.

    Curtains - just saw your reply. Let me reread it more closely and I'll respond

  26. Pick that is interesting... So you say ITM is more profitable than OOM? I've noticed the spreads can be quite large on OOM but they seem to be very well bid as they get closer to ITM.

  27. Pick, I have a few at the moment but it's my first try with options on AGQ. Like I said mostly it's been SLV up to this point. That's good advice on placing your bids. If you are patient often times the ask will come to you.

    I've got some experience with options that I've learned the hard way, so while I'm inexperienced with AGQ I'm fairly experienced with options in general. Always willing to learn something new though so don't be afraid to insult my intelligence!

  28. i've noticed that AGQ will be up % wise a little less than double compared to spot silver on good days, but when it goes down, in % terms it is more than double silver.

    or maybe it just feels that way...

    would love to buy some dip tomorrow as i closed out AGQ today

  29. Ammunition for QE to infinity...


  30. Curtains,

    All I can tell you is what I know about AGQ, and what I will say is this - you can't day trade it and try to keep getting in and out. Tha strategy will fail and you will be your own worst enemy by second guessing yourself. AGQ falls too far too fast and it will spin you out the second you start getting confused about what you're doing. If you've never held your hand on the AGQ tiller during a raid before today, please heed this advice. Just today I watched a guy buy ATM and lose 40% of his contract value in less than 5 minutes.

    My stategy with AGQ (learned the hard way) has evolved into making one "trade" per month. I usually start building my next position during OEX week of the current month. One "trade" to me means all my buying as I average in and all my selling on the way up, because I pick ONLY ONE strike price and stick with it.

    I don't pick the strike based on affordability and try to get more contracts. You can make just as much with 1-3 contracts. I pick it based on an attainable strike as I measure it out through the help of TF, Harvey, etc. Then, I average in to my position.

    For example, last month when TF called 26.50 I started buying the $135 Feb strike. Spot was still between 27-27.50, but I didn't want to risk missing an up move so I bought one contract for 6.60 and waited. Sure enough, TFs call was spot on and I kept buying on the way down. As 26.50 held for a few days I unloaded, and my average price ended up being $2.80. The key was having a lot of dry powder. (This month feels tougher getting long w spot over $30 and no dips to buy yet)

    Anyway, continuing, I figured we'd get back to $29 after $26.50 which was about a 10% spot move. AGQ was $118 or so at the time. My plan was to sell at $135 but to also change my plan as events unfolded. As AGQ hit the strike I sold a few contracts...when it went through 140 I sold a few more, etc. I dumped my last ones around 15.50 with AGQ around 150 and started focusing on March

    Many pro traders will tell you I trade to close to the forward month but I use a set goal and that is to double my money. That's it. With AGQ that usually happens well before any time decay sets in.

    Happy to clarify anything if necessary

  31. Tyler,

    Yes - I just consider that the price of doing business and a very small trade off

    Flaunt - I have always bought OTM, just not too far OTM because of raids,etc. To me the sweet spot is a strike that is OTM but has potential to get DITM. It's a delicate balance.

    If I recall, I started buying the $165 March when AGQ was around $140

    You can make great gains by being DOTM, but on a 4 week timescale thats too big of a risk for me. You can get a 3 or 4 bagger buying at the outer edge, but huge gains are made once your strike gets deeper and deeper ITM...that's where the bulk of the gains come from and your 3 or 4 bagger becomes a 10-12er

    I try not to dwell on any past trades, good or bad, but as an example I went back and saw that Feb 135 strike trading over $17 the other day. I started selling a few contracts in the $8 range. If I didn't sell on the way up I coulda made a whole hell of a lot more but I find that selling on the way up is just a better discipline to practice

    Hope this helps somehow

  32. How do you guys feel about holding silver during the soon approaching stock market crash? Being that roughly 40% of silver demand is industrial...won't that demand for industrial use temporarily drop silver prices as it did in 2008? Would that be a better timed entry? Or being that 1/3 of the population (China/India) is storing value in silver, it will offset this?

  33. From the MoneyChanger (2/15) a different take:

    " Okay, I am not imagining THIS. Silver appears to have completed a move up from 2980c, so tomorrow ought to be a down day, but not below 3040c.

    And ANOTHER thing that the Internet Silver Cheerleaders haven't noticed is that the buy-side wholesale premium for US 90% silver coin is a negative 75c. Whatever else that says, it surely screams that plenty of silver is ready for sale. In all fairness that premium can drop while silver is rising, but a higher premium would indicate more buyers, & more buyers bring more upward buying pressure.

    And anent that "backwardation:" there remaineth no backwardation (although a very flat contango) in the silver futures through December 2011. However, the very distant months, out in 2013, 2014, & 2015, are backwardated to February 2011. What exactly does that say? Oftentimes trading in those very distant months is so thin that the price trails the closer months. I don't know whether that is happening or not, but it might explain it.

    My doubts will continue to fester until silver & gold confirm each other & their rally with new highs in both metals. I'm trying hard not to be stubborn (a really TALL job for anyone who's Scotch-Irish), but truth is, I have a really strange way of learning: I learn by making mistakes. Yes, more expensive than a University education, but also more lasting. And I have too many times been taken in, fooled, and had my pockets picked by double tops. Thus even one as stubborn as I learneth over time to buy the bottom of a range, or the breakout above a range, but never the little area right up under the resistance.

    Silver this week ought to challenge that 3109 high from 3 January. That will be fish or cut bait time."

    I guess we're cheerleaders over here....
    Any thoughts on his comment about negative premium on junk silver??

  34. Who agrees it time to short Netflix ?
    I have never placed a short before so can
    anyone help the newbies who see its time to learn how to short ?

  35. StrongsideJedi,

    I don't have a problem with your numbers, but the thing you didn't consider is that there is not that much gold in existence!

    You say:

    "The US national debt clock claims that 13.4 trillion dollars of debt is owed as of October
    2010...It appears to me that if this nation was back on a gold standard, we would need less gold to balance the debt in 2011 than in 1971."

    Well, 13.4 trillion dollars, at $1400/troy ounce, comes out to 37X the amount of gold the US has in reserve and 10X the amount of gold held in reserve of every country in the world. Here are my figures:

    US National Debt: 13,400,000,000,000

    Price Gold/Troy Ounce: 1,400
    Troy ounces in a ton: 32,150
    $ Value of 1 Ton of Gold: 45,010,000
    US reserves, in Tons: 8,133
    Value of US reserves, $: 366,066,330,000

    US Debt/Value of US gold reserves: 37X

    Total Global Gold Reserves, Tons: 30,500
    Value of Total Global Reserves: $1,372,805,000,000

    US Debt/Value of global gold reserves: 10X

    Google "gold reserves" if you don't believe my numbers of US gold reserves.


  36. Barack Hussein Obama Explained!


    Nice Video!!!

  37. FWIW .... I just noticed that ScotiaMocatta has some 100oz Ag bars in stock again. In the past whenever they have 100oz bars for sale the spot price drops and sometime the spot price drops hard. Conversely, whenever ScotiaMocatta has an "out of stock" label on the 100oz bar the spot price usually rises.


  38. Pick52, I traded some recent swings in AGQ:
    bot at 136, sold at 150
    bot at 145, sold at 155

    Looking to BTFD today in AGQ, for the next leg up into March.

    Also looking to go long on June OTM calls or (more likely) on a June call spread.

    Your comments appreciated.

  39. Curtains: I just always buy more time and I try to stick with delivery months and round numbers because there will always be more open interest there.
    Perhaps, some day soon, I should post a thread with more details?

  40. Nice bounce from the, YAWN, on time, as expected, never-ending 6:00 takedown. Gold now up ever so slightly in all currencies which is the first thing I check every morning. those are the best days; gold GOOD fiats BAD.

  41. The scary part about this silver stuff is that the US government/FED will likely step into this. We are not in Kansas anymore people.
    Looks to me like the US plan is to destabalize governments around the world with high food prices, to hide the mess they have caused. Check out RT article on Max Kieser

    We are expecting to only be fighting against banks and the comex/FED, but it may be bigger then that so all should excercise caution.

  42. Mark: Do you mean I should be concerned about the black Crown Vic that is parked outside my house?

  43. Insight-

    re: junk silver

    I wish I had a really great way to track this stuff. But as far as I can tell, a buy price at a discount to melt is pretty much normal (it costs money to melt the stuff down), with a sell price that runs usually at a small premium. It's when we get to a really excited, bubbly sort of market that the buy price can sometimes go to a premium.

    So about all I take away from it is, that when people try to say metals are in a bubble, etc. I say, well, according to junk silver, NO we aren't.

    I suppose another interpretation ( and a not necessarily contradictory one) could be that junk silver is NOT confirming all the chatter we hear about shortages of 100 oz bars, 1 ounce rounds, etc. Not yet, anyway.

    For commentary on week to week sort of fluctuations, I tend to go with whatever Bill Haynes says on his Satuday morning thing over at KWN.

  44. With everybody and their brother looking for Blythe to attack somewhere above 31, wouldn't it be interesting if the "WB Group" showed up, instead, and blasted us to 31.75 while Blythe was on smoke break, before the open...

  45. What if the Fed does have to back off even a little?
    Does EE run out of shorting ammo?

  46. Insight

    And yes I've noticed that Franklin Sanders (aka The Moneychanger) has been extremely cautious of late. Nothing wrong with getting a variety of perspectives, and making up your own mind. Sanders has been around this game a long time, and his view is as valid as anybody elses.

  47. Didn't Sanders say that refiners had a glut of raw stock, not so long ago?

  48. All I know for sure is that on a long term perspective, Sanders and The Turd are both on the same page. For short term calls, anything can happen.

  49. Sumo,

    Call spreads would work just fine here for March

    With AGQ I don't buy further out months, but that's just me. The time premium is too high for my taste and contracts lose their value very quickly on EE raids. I figure I don't want any money tied up in, say, June contracts because they are almost guaranteed to lose a lot of value. The first time I tried that I bought a September call in early July for 19.10. A month later it was 4.00. I bought a lot more then but learned it was best to wait and get an extra 4 contracts at 4.00 than 1 at 19.00

    Every day I check to see if the following month contracts are posted. That's as far out as I'll go with everything so volatile

  50. There has been some chat about the possibility of a margin hike, if this does occur, as im sure it will, what is the feeling in terms of the short term hit to the paper price??

  51. Here's Blythe, right on cue. You can set your watch to these morning attacks!

  52. mm, America. Is that inflation in your pants or are you just happy to see me?


  53. pdale, my reading from Harvey is that a margin hike won't do much. Longs are not rolling over to the next month, because they want delivery, so they must have the money for delivery.

  54. not sure if this is the dip we should buy or wait for another

  55. C'mon Blythe darlin. Bend down lower. I want to re-enter.

  56. Guess a magin hike will determine if thats the case - if you are correct and the price doesnt fall much its at that point the JPM will know the jig is up and the price should skyrocket.

    Will be interesting to see how it plays out...

  57. Two questions:

    What do folks think the dip is going to go to today? I'm trying to set up a couple of limit buys and I'm thinking just above 30 and maybe just below 30.

    What strategies to folks use for buying the dip? I've chased it down, chased it up after the bottom, and sideways sometimes...... what signs to folks look for that it's bottomed or about to bottom? Note: I don't have any fancy trading platform, just the normal public access charts and data.



  58. sorry meant OI not price (but suppose price as well)

  59. David Morgan audio from yesterday on Goldseek Radio:


  60. Just looking at the charts this morning. at 8:50 and 9:05 EST, we had a .10 drop within a minute on a volume of 750 contracts. Help me with the math. How much did that cost JPM to move it .20 with those 1500 contracts?

    And as of 9:22 its blasting right back in her face. another FUBM?

  61. I feel like Theoden: "Is this it? Is this all you can conjure, Saruman?"

    And then the Uruk-hai runs under the wall with the bomb.

    Exciting day. But, perhaps we will stay rangebound (like last Wed-Fri) between 30.20 and 30.90 until the weekend?

  62. Turd: No not the crown vic, more in line with government interest may be in direct opposition to ours and they as we have seen, change the rules and manipulate things to suit themselves. If it is not in their intrest to have silver get out of control then rescuing Blythe and the comex maybe mandatory, ie dollar holds it's ground and the phones at the hedggies start to ring saying your collapsing the system and insto presto the vultures disappear and the leveraged paper gets crushed on a pull back. Blythe may not be able to due it, but living in Charlotte with lot of bankers who barely felt the recent squeeze, tells me that the rules may not apply when we want them too. Just a thought and a few memories of getting my ass burnt

  63. Holy Moly, what a ride! I picked up some AGQ at 150 and more at 151.30, and now I'll just have some popcorn and watch the circus.... ;-)

    I like the idea of buying on the "Wicked Witch Wednesday" dip, and then selling on the "Happy Tuesday" spike. That way I only have to watch the tape 2 days a week.

    And if you are buying jeans, do it soon.... cotton up 6% this morning...wow.


  64. Don't be too concerned with blythe crushing the paper trade .... damage short term yes...but what a great trading opportunity. Took a little more profit on ANV today and SLW yesterday...now have some nice cash IF they take it back to my pivots and MAs short term......yum yum....eat um up...I have a basket of miners here and heavy PSLV ...lets see what Friday brings

  65. FUBM is on a pretty good roll now! Bite the silver bullet, bitch!!!