Thursday, March 3, 2011

BLS BS Eve

Tomorrow is, once again, the first Friday of the month so we all wait with great anticipation the release of the latest BLS BS report. We've documented the reaction to each of the three releases since we started this blog. They can be read here:
http://tfmetalsreport.blogspot.com/2010/12/bls-bs.html
http://tfmetalsreport.blogspot.com/2011/01/putting-bs-in-bls-bs-report.html
http://tfmetalsreport.blogspot.com/2011/02/more-bls-bs.html
Frankly, I getting so bored with the nonsense that I may not even mention it tomorrow because it will just be the same old shit. Just like today. The day before the report and the financial press was all atwitter about the "improving economy" which sends equities higher and the PMs lower. You can bet that tomorrow will follow the same familiar pattern. The BLS BS "disappoints" and the PMs rally. Blah, blah, blah...

On a more interesting note (to me, anyway), does anyone recall reading this?
http://tfmetalsreport.blogspot.com/2011/02/crossing-one-million.html
Note the date was not quite four weeks ago. On our 87th day of existence, the blog crossed the 1MM pageview mark. Today, a scant 24 days later, we crossed the 2MM mark. Utterly astounding. Thank you all for making this so fun. I promise to reward you with our new "playground" soon.

I'm getting a boatload of emails every day, which is fine. I'm glad to help whenever I can. I'm receiving, however, a treasure trove of quality info. I need to write up another "Turd's Mailbag" post soon so that I can share some of it with you. In the interim, here's just a sampling of some of the stuff I've gotten over the past 24 hours alone.

First, I was alerted to this by a reader first thing this morning. Most of you have probably seen it by now but in case you haven't: http://opinionator.blogs.nytimes.com/2011/03/02/a-conspiracy-with-a-silver-lining/?hp My favorite part is where the writer describes Andrew Maguire as "a ranting rogue trader with a nutty online following". Sound familiar? ;)

Next, now that you've read about silver intervention, here's a little nugget on gold suppression:
http://www.financialsense.com/contributors/dimitri-speck/phases-of-secret-gold-policy?sms_ss=email&at_xt=4d6ea472afe57c94%2C0

Reader "John" seems to do some top-flight TA. He sent me this regarding the HUI. Since we all probably own at least one miner, you should take time to review this:

Hi, Turd. The HUI moved exactly as I predicted about 2-3 weeks ago
1) broke through the 28 dma
2) fell back and back tested it (28 dma became support)
3) ran up and traced the upper bollinger band
4) Doji yesterday means we are out of gas
5) we will move sideways from here
6) the sideways pattern will continue for perhaps a week and then break up again (more buyers show up)
7) I have seen the sideways pattern last a long time...until the 28 DMA runs into the HUI, then it will break violently upward
8) the slope of the 28 dma is turning upward (positive) but we need probably 4-7 days of sideways action to really keep turning it
9) a major blow up somewhere would cause gold and silver to continue upward...but I think gold trends down or range bound for a week or so
and silver tacks slightly upward...resulting in a flat HUI
keep up the great work...folks looking for  an entry may find it in the next week...but not much lower


Finally, here are three key charts as we head into the overnight. I expect weakness in the PMs overnight. There's still a lack of conviction ahead of the BLS BS and the Asian/European sessions have been weak as of late, anyway. Let's see if our support levels hold.
Also, I keep pointing out the action in crude because energy prices are having a direct impact on the prices of our PMs. Even with today's brief selloff, the crude chart is still very strong and the price looks to be headed higher again very soon.

As I type, gold is 1419 and silver is 34.43. Crude is rallying, too, at $102.32.

OK, that's it for now. Turd tired. He needs a good night's sleep. I suggest you do the same. Tomorrow may be a real barnburner. TF

109 comments:

  1. Check your charts again... I would LOVE to see silver in the 1395 to 1410 range tomorrow!!! ;)

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  2. This ought to brighten you morning after a much deserved rest, TF:
    Utah Considers Return to Gold, Silver Coins

    http://www.foxnews.com/politics/2011/03/03/utah-considers-return-gold-silver-coins/

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  3. @CookieMonster & Turdle GG

    Thanks for the responses. I found these Regs:
    http://www.sec.gov/rules/final/34-45956.htm#settle

    and will leisurely read them tonight.

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  4. I asked this question on the previous thread, then Turd posts a new playground ....

    Question about option delta implied volatility etc.... Any good free or low cost option analysis calculators available?

    In about 1986 I wrote a dos based graphical option calculator/spread sheet for the PC, I have not done any serious option trading since that time. I could recreate my own tool in modern form in a few days, but it seems a waste if something ready to use exists.

    Is Black Schole's still the primary pricing model used? Based on the reference material I have a futures option should have a slightly different calculation than a stock option model, so do suggested tools offer the futures price model?

    Any tools that get real time bid/ask data on futures options and then spit out the various implied volatility, greeks etc..etc...?

    Looking at prices it seems that the call premiums are a bit fatter than the put premiums, I don't understand why this is, real interest rates are so low, why isn't this difference arbitraged to zero with synthetic calls?

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  5. Lol, fortinbras. It could take a 90% tumble and id still be thrilled! 8)

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  6. Thank you turd for your hard work.
    Tomorrow's BLS numbers should be very... interesting. Let us see what happens in a wild day as always in the gold/silver markets...

    On another note...

    Recently Ben Bernanke mentioned an expected 200,000 jobs as a result of the meager $61 billion dollar budget reduction (if they can "get it to pass). Meanwhile, Moody's estimated the $61 billion dollar reductions to affect unemployment by as much as 700,000 jobs lost. Both of these numbers should be seen as conservative, as their perspectives has moral hazard with the benefits of American citizens.

    If you were to use a linear extrapolation of [200,000,700,000] jobs loss for every 61$ billion dollar reduction, to truly balance our national budget... it would be estimated at [5,000,000, 18,000,000] job loss. This is completely false though, as it would most certainly be much worse than a linear relationship, as these problems have a way to compound each other very fast...

    You can see my basic arithmetic here:
    Bernanke and Moody's Numbers extrapolated to show massive unemployment coming if fiscally responsible

    If this intrigues you, I offer you to read my thoughts on the other parts of the budget that really should be understood before discussing "how to fix" our situation. There is more than meets the eye.

    A Reality Check on the Budget

    -
    On a side note:

    Be sure to be courteous to all people, always. You never know what people are going through, and we are all victims to a bigger crime.

    Be the Change you want to see in the world...
    -
    Scott J

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  7. Paul Breed:

    http://preview.tinyurl.com/45ageap

    also read several times:

    http://www.amazon.com/Options-Strategic-Investment-Lawrence-McMillan/dp/0735201978/ref=pd_bxgy_b_img_b

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  8. Turd

    Please please look at this on you tube and tell our friends here and at ZH.

    Search Youtube for these 2 videos

    The Silver Log (03.01.2011) - Silver in Two different markets

    The Silver Log (03.01.2011) Gold & Silver analysis

    Thanks
    Nick

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  9. SGS,
    what are you promising us for tomorrow?

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  10. I hope we push higher.

    Meanwhile, anybody have direct plays on crude, aside from COP, USO, DBO, UCO?

    Thanks.
    -I don't do options.

    Thanks for the contributions.

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  11. @ScottJ: Using Ben's or Moody's logic, QE2 (600 Billion) should have created 2 or 7 MILLION jobs. Neither has any credibility anymore.

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  12. Darth,
    I have the 2nd edition of Options as a Strategic Investment and that was the reference I used in 86 to write my own options analysis software. A very good book. I'll look at the other site. Thanks for the info.

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  16. Harvey's post (part 1) is a must see tonight!!!!

    http://harveyorgan.blogspot.com/

    Wow... this IS getting interesting.

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  17. Paul,Darth, anyone,

    Could you point me towards a good beginner stock options book-course- video or service. I don't plan on getting too complex, I'm doing puts/calls now flying by the seat of my pants and it's working better than a recommendation service I employ. I would like to get a handle on pricing and all that before my luck runs out.I am self taught in almost all aspects of my life as I have uncanny instinct and voracious appetite for knowledge.I would like to understand the greeks and also commodity futures

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  18. NetDania spot silver in USD (XAG/USD) live chart has odd-looking (near zero) volumes recently.

    If you change the chart to show spot silver in other currencies e.g. XAG/JPY or XAG/AUD, the pattern of volumes look more reasonable.

    To switch to XAG/JPY, for example, click on:
    Instruments ->
    ...more instruments ->
    Precious Metals - NetDania ->
    Silver, spot (JPY)

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  19. Did anyone know that there is a "Day of Anger" planned for Saudi next Friday? Oh, boy...could get messy real fast.

    http://www.debka.com/article/20721/

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  20. syk:
    are silver futures on the comex "security futures products?"
    i saw those regs but does anyone know? i couldn't get a handle on it, but got the impression SFP's are more like SLV and GLD stocks.
    if indeed silver futures are SFP's, the CFTC is doing a horrible job regulating this cash settlement nonsense (that's a given), but the SEC can get involved here, too.
    we'll see how my FOIA request comes back...doo doo doo.

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  21. I'm so encouraged Turd, While I know a lot of us are repeat visitors. A small percentage can have such a huge effect on stuff. Libyan oil fields are about 2%-3% of oil production. But it's the overall effect that is astounding.
    I'm a small player, totally physical silver, maybe $150.00 a month. I got a year of food, bought 4 firearms and Ammo, debt free but the mortgage. It's like eating an elephant but anyone can do it if I can. I get no EBT, power or any other assistance besides my basic disability payments. I'm trading those little green pieces of paper for real stuff. Be it food, fuel, silver or lead.

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  22. Options calculator:
    http://www.ivolatility.com/calc/

    Select Basic Calculator and then have fun.

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  23. Chavez is attempting to broker a peace agreement in Libya, on behalf of K'daffy of course. I know I'll sleep better knowing Hugo's going to get things settled,,, NOT!

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  24. TF,
    I sympathize with Debka but I'd rather go to other sources:

    http://www.telegraph.co.uk/news/worldnews/middleeast/saudiarabia/8359844/Saudi-Shiites-call-for-day-of-anger-in-kingdom.html

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  25. wow harvey part II makes me feel like this whole process of trying to get TPTB to wake up pointless.
    best to focus energies on food supply and trading.
    bernanke (walter mitty), geitner doo doo doo...

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  26. Silver's Breaking Point
    http://wealthcycles.com/blog/2011/03/03/the-scam-of-the-silver-price-and-the-cftc?utm_source=Social%2BMedia&utm_medium=Twitter%2Band%2BFacebook&utm_campaign=Blog%3A%2BSilver%2BManipulation

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  27. Turd - that has been scheduled for the 11th since Egypt kicked off... we'll see if it happens.. the Saudis don't play around in the crack down mode.

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  28. moogle fishy

    I always recommend my favorite oil sands names to anyone who will listen.

    Direct correlation with the oil price, but with some leverage.
    Not weighed down by the glut of natural gas.
    No exposure to choatic locales.
    No intermediate layer of business uncertainty like refining or oil services.

    SU, CNQ, CVE, COSWF

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  29. For those of you still holding Great Panther, I did another update on it today even though I reluctantly decided to hold off until tomorrow before getting back in. Also threw in some of the big stories going around lately, but left out the middle east stuff since I think we all pretty much keep up with that whether we choose to or not.

    GPL, 41:1 and related news

    I think along with GPL, I will probably be going with some BULM and UCore. Even with UCore's price jump today it still looks good. Thanks to everyone who has been sharing personal picks lately, I've been finding a lot that suit me well after doing my DD. This blog is a gold mine.

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  30. @justin
    When will you re-enter GPL?

    Silver futures not in certain upleg yet. are you waiting?

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  31. Saudi related news: There is another protest planned for the 20th and it has its own Facebook fan page with almost 8,000 Saudi's that "like" it, meaning they support it. The 11th should give us an idea of how the 20th will turn out.

    Saudi Protest

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  32. I'm waiting to see if silver gets attacked tomorrow or if it starts making some serious moves. Whatever happens I want to have my 3 next picks locked in before the close of the market, regardless of whether I get the prices I want. GPL buy-in under $5/share and I'll be happy. Buy-in at $3.50 would be awesome. If I were Blythe I would hit it hard, especially if the BLS report gets the ball rolling with a down trend.

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  33. Stop the press. This just in from the dead oligarchs:



    “Hundreds of thousands of rouble notes are being issued daily by our treasury. This is done, not in order to fill the coffers of the State with practically worthless paper, but with the deliberate intention of destroying the value of money as a means of payment. There is no justification for the existence of money in the Bolshevik state, where the necessities of life shall be paid for by work alone.
    Experience has taught us it is impossible to root out the evils of capitalism merely by confiscation and expropriation, for however ruthlessly such measures may be applied, astute speculators and obstinate survivors of the capitalist classes will always manage to evade them and continue to corrupt the life of the community. The simplest way to exterminate the very spirit of capitalism is therefore to flood the country with notes of a high face-value without financial guarantees of any sort.
    Already even a hundred-rouble note is almost valueless in Russia. Soon even the simplest peasant will realise that it is only a scrap of paper, not worth more than the rags from which it is manufactured. Men will cease to covet and hoard it so soon as they discover it will not buy anything, and the great illusion of the value and power of money, on which the capitalist state is based will have been definitely destroyed.”
    ~ Vladimir Lenin

    “Lenin is said to have declared that the best way to destroy the capitalist system was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. The sight of this arbitrary rearrangement of riches strikes not only at security, but at confidence in the equity of the existing distribution of wealth. Those to whom the system brings windfalls, beyond their deserts and even beyond their expectations or desires, become ‘profiteers,’ who are the object of the hatred of the bourgeoisie, whom the inflationism has impoverished, not less than of the proletariat. As the inflation proceeds and the real value of the currency fluctuates wildly from month to month, all permanent relations between debtors and creditors, which form the ultimate foundation of capitalism, become so utterly disordered as to be almost meaningless; and the process of wealth-getting degenerates into a gamble and a lottery.
    Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.”
    ~ John Maynard Keynes

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  34. Hey Justin,

    Thanks for the post on Great Panther. I posted on my blog a few days ago that the trade was getting crowded and it had me concerned. I wasn't expecting this level of a correction though. You know what though? I'm happy it did! I increased my position today. I really think it's going to bottom out here and start moving higher, but if it doesn't I'll buy it all the way down.

    Today was a great buying opportunity and there are A LOT of very compelling and great looking miners out there from seniors, junior, micros, explorers - you name it. Get you some!

    Real quick, Wildcat Silver has been a favorite of mine for a while, but the recent buying frenzy caused me to decrease my position and lock in some profits. I can't seem to find any news on it, anyone got a scoop on how my little favorite is now all the rage? Thanks in advance!

    Yukon
    http://yukoncorneliusssilverandgold.blogspot.com

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  35. Kumanari,
    If you want a college level text on options then it would be really hard to beat Options as a Strategic Investment. (OASI) I'm an engineer by profession so numbers and math don't scare me. I don't know what your level of math comfort is. If you are comfortable graphing things then I think going through the graphs of value, premium etc... over time like the graphs in OASI would be a really good start.

    A little background on your math comfort level and I could provide more targeted recommendations.

    Are you comfortable with excel?
    Algebra?
    Calculus?

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  36. No problem Yukon.

    Now I have some fun news to share regarding a possible pump and dump or a legit pick. I got an email today from a site I registered to a long time ago. They have never emailed me anything at all since I joined but today they sent out a stock pick for HLM, a miner. I don't know how many of you are familiar with Pinnacle Digest, but they have some great blogs and articles, really seems like a reputable site and has been the entire time I've been registered. That's what makes this email confusing. I copy and pasted the entire thing into a blog entry with charts on their pick.

    HLM

    Is this an early call for a pump and dump that we can hop on board or is HLM the real deal? They almost look like an even more junior Rye Patch at first glance and do not appear to be hedged, and also just acquired some prime drilling land. I'm looking to add three stocks tomorrow, might throw this one in for fun depending on what kind of feedback anyone has on this little fella.

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  38. I'm not an investor in silver. I look at it like insurance. If the shtf Silver goes up. If Fiat currency pukes. Silver goes up. If congress get's it act together prosecutes the fraud, cuts spending and get on a good money system, silver will tank. Now of those 3 scenarios what is the most likely?

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  39. Mahalo Paul,
    I probably have a low comfort level took algebra, calculus in high school/college '77. I'm sloggin thru Ivolatility.com educational site it seems pretty good. I was hoping for an easy way but as they say in the marines the only easy day was yesterday.I've got my 22yr old nephew walkin point on this, his brain's still fresh. I'll tackle this one way or another.

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  40. Thank you so much Mr. Ferguson. This is now my homepage.

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  41. Here's an article by sober-sided Jeff Miller, a Seeking Alpha columnist who is an expert in BLS numbers and methodology. He predicts a huge downside miss on the employment number: +100,000--less than half the consensus estimate.

    February Employment Report Preview: Time for a Real Rebound?

    "I have a long-standing rule for employment Fridays: Play the short side. The pre-market spin on this number is amazing. It could be a subject for a PhD thesis."

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  42. Justin & Rare Bugs

    Lifton knows more than anyone about this. All the RE scientist have passed or retired this man has carried the torch for decades. There is a lot of hype in this sector most companies are "liars standing over a hole".they got on the bandwagon in 09 after Dines made the call. To get a mine from rock to powders to magnets is very extensive like no other mining operation it requires SCIENTIST. each RE has it's own processing formula and the product degrades in o2 if not handled properly. That's why REE is priced far higher than anyone else (plus they have a free gold kicker). Check it out.These are keepers for uour kids or retirement.

    http://www.techmetalsresearch.com/2011/01/canada-and-critical-rare-earth-metals/

    http://www.techmetalsresearch.com/?p=3358

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  43. John Hathaway - $50 to $60 Silver, US Dollar in Danger

    With gold and silver consolidating recent gains, today King World News interviewed John Hathaway, Senior Managing Director of the Tocqueville Gold Fund. There is a great deal of talk emerging about the strength in the silver market and the weakness of the US dollar. Regarding silver Hathaway commented, “Well it’s on fire obviously. Usually when silver does well you have a set of inflationary expectations.”
    Hathaway then shocked KWN with this statement, “If we have a continuation of QE2 past June 30th, I wouldn’t be surprised to see silver in the $50, $60 an ounce territory.”


    When asked would there be a waterfall decline if the US dollar were to move down and take out the 71-72 area Hathaway responded, “Yeah, I think that would be a real sign that people had given up on the dollar. The market would basically be telling you that the verdict is in and the dollar is in effect beyond redemption in terms of any sort of respectability and I think you’d see a huge move into gold at that stage.”


    John Hathaway’s fund has been one of the top performing funds in the world for quite some time and was just awarded a 5-star rating by Morningstar. The complete interview with John Hathaway will be released shortly and you can listen to it by CLICKING HERE.


    Eric King

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  44. More on Gartman on Harvery Organ:

    Yesterday, Dennis Gartman was on CNBC explaining to his audience the virtues of gold and silver. Last night, my miraculous intervention by spirits unknown, Dennis wrote to his clients that he has decided to liquify all of his gold contracts. And lo and behold, we had a big raid today. As I have mentioned to you on many occasions Dennis Gartman gets the sell side of gold and silver right all the time. You see, Gartman's sell side accentuates the downward movement in the precious metals. The bankers told Gartman that there was going to be a raid in the morning.
    Gartman never gets the buy side right because the bankers will not tell when they must cover. I have shown this to the commission on many occasions but I guess it falls on deaf ears.

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  45. I'm still gona hold off till the NFP numbers are posted. Hoping for a nice dip.

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  46. Chris, good work. I really dislike that bloated blowhard. Gartman is a total joke. And why should someone in his position not be? He and his kind just reflect the innate phoniness of our "financial system" and are thus rewarded by it.

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  47. Off Topic
    Has anyone bought Silver Bullion as part of a 401k or IRA?
    If so, who is a reputable custodian?
    Thanks,
    Buck
    Go Navy, Beat Army!

    ReplyDelete
  48. Interesting video on selling Ft Knox gold:
    http://finance.yahoo.com/news/America-Secret-365-Billion-dg-3407878258.html;_ylt=AolKhAaJ0q8CF2x6VgXe8Hm7YWsA;_ylu=X3oDMTFhOGlrMmQwBHBvcwMyBHNlYwNzcGVjaWFsRmVhdHVyZXMEc2xrA2FtZXJpY2Fzc2Vjcg--?x=0&sec=topStories&pos=9&asset=&ccode

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  49. day of rage er anger???? could be a good day for etf uso on a thursday. wut turd?

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  50. Buck: Here you go

    http://www.goldenstatemint.com/ira-certification.html

    Silver is the Gateway Drug to Gold

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  51. NFP numbers available on Bloomberg:

    http://www.bloomberg.com/markets/economic-calendar/

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  52. Wow, they cooked it positive this time!

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  53. +192k, afaik on expections of +200k. So all is well, prepare for a beatdown in PMs

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  54. The recovery continues! The recovery is strong! Nothing to see here folks... Everyone has a job and there's no trouble in the world! Go ahead and sell that gold, you know you want those lovely ben franklins!


    Uh... yeah...thanks Uncle Ben...

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  55. Justin

    I took a peak at your HLM. As far as it being a "real deal" with a "compelling history and story", I'm sorry I'm just not feeling it.

    Their actual prospects don't really seem any better or worse to me than probably a thousand other companies. Really tiny $9m market cap. They are living hand to mouth in terms of cash, so you can expect a steady drip drip drip of dilution from new shares.

    I think the only thing you need to decide is if you are early enough, smart enough, and nimble enough to trade this one for a profit strictly as a pump and dump trading sardine. I'm not. Good luck to you.

    Now I'm going to add it to a watch list just to see what I missed!

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  56. F'twads on CNBS are tossing around their UE predictions like they are picking scores in a basketball game. Those #s (bogus as they are) are Real people out of work. Sickening

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  58. Just checked the charts this morning- nice action in Asia overnight- but I chuckled at how many times I've seen 34.50 printed in the past 4 days... :-)

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  59. BLS numbers post, and price dives from 34.69...

    Raid is on like Donkey Kong

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  60. From TD at ZH. All you need to know about the BLS BS:

    "Wonder why the unemployment rate is at an artificially low 8.9%? Three simple words: Labor Force Participation. At 64.2%, it was unchanged from last month, and continues to be at a 25 year low. Should the LFP return to its 25 trendline average of 66.1%, the unemployment rate would be 11.6%. And indicatively, the Birth/Death adjustment was +112,000."

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  61. Sinclair's thought of the day (March 3):

    "Rumors are flying once again about substantial improvements in the Jobs number. This is again supported by ADP’s projections.

    The gold price is a product of debt, not business."

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  62. Eric,
    I did some deeper research on it last night and couldn't find anything to really justify why they would choose HLM as a pick. I did notice when looking at the charts again that there was a slight surge in stock price that morning before the email and the 33% jump. Starting to wonder if maybe Pinnacle is turning into a scam like NIA...or perhaps Pinnacle always has been. Might have to stop following that site.

    I'm ready to see how today's news effects the markets now. Silver seems to be reversing the rise it was just having coming into opening. Been looking forward to today all week as I have been expecting it to be a good day for snatching up silver and miners.

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  63. I cannot heed or attend to any of these 'numbers'.

    The quote on my wall is from Mark Twain.

    "Governments Lie". - 1892

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  64. http://finance.yahoo.com/news/February-payrolls-surge-rb-1838430983.html

    "February payrolls surge, jobless rate near 2-year low"

    Attention Citizens. All is well. Repeat. All is well. Our Glorious Recovery continues. Pay no attention to the Zero Hedge dissidents and malcontents.

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  65. Posted a 1-minute gold chart showing the nfp release for those interested (as I cannot insert an image in this comment section):

    https://deltafunctiontoronto.wordpress.com/

    They tempered the jump in gold so far -- we'll see if their lean carries through into the afternoon.

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  66. Would someone explain how the NFP report translates to heavy bilateral movement in both gold and silver?

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  67. Justin

    Yeah, given that we are in a silver bull market, there's plenty of silver miners out there that are participating nicely, with gusto even, why go gambling on some internet whisper sort of a deal.

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  68. Hi everyone,

    There are some of us hanging out in the chat room ( www.tinychat.com/turdworld ) and we are confused by the PM's action, we are all of the opinion that PMs were going to get beat down today on NFP meet or exceed the consensus, so does anyone have opinion on why the PMs moving steadily up this morning?

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  69. if you guys want to chat join us in the official unofficial chat room
    http://tinychat.com/turdworld

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  70. TURD FERG, when does the "NEW" site appear????

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  71. @Eric - "Trading sardine." LOL. That's effing hilarious! =)

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  72. Sinclair also knows that the amount of debt we take on is a product of how well business does. Unfortunately.

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  73. OK, so Wisconsin Gov. Walker now says if the Dems don't cave in to him, he's going to start shooting the hostages (start layoffs). What a douche.

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  74. MIster

    I luv it too. Goes back to a Doug Casey story I was relating to Ginger a few days ago. There are two kinds of stocks. Trading sardines, and eating sardines. Better be sure which kind you own. lol

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  75. @badu
    oil is moving up,hence pm up

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  76. Lol @ pat. Seasick is right, now I'm stuck waiting to see what happens at 35 before I get my feet wet.

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  77. Eric-1

    Why? Why a douche? He doesn't have the money to pay over paid teachers. They're part time workers! Their contracts are 2 whole months shorter than you or I work...and I'm including a 2 week vacation for the regular guy too. ALL public workers must take some cuts.

    Hmmm...$34.68...the calm before the storm? Or waiting for a dip that never comes? I say there will be a raid too...which means there won't be...I always over analyze and I'm always on the wrong side!

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  78. Noticed New Gold, NGD, going by on the premarket ticker several times. Not sure what's going on there?

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  79. joe
    The unions has already agreed to all the financial cuts, but he won't stop until he kills the union outright. That's the real agenda. The whole idea of "never let a crisis go to waste" is in full play here.

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  80. I don't trust the move up in silver with the news released. I think it's a trap to sucker people in for a beat down. I'm holding off on adding any positions because Blythe is sure to do something about this today.

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  81. Wasn't there supposed to be a margin rate hike today?

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  82. Eric#1 & joe,
    I agree with one of you! :D

    ........Shake hands and remain friends. We are all on the same page in preparing for the 'End of The Great Keynesian Experiment' ...no matter our politics. ..Right?

    ..eh.. Now I'm acting like the board Momma. Just tryin' to keep my kids allll getting along. :]

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  83. Eh, I wish someone would fix the Netdania volume feed for silver...

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  84. still friends

    I wouldn't have even brought it up here except that they were talking about it right then on CNBS, and figure half the people here have CNBS on in the background.

    I generally try to avoid the politics here, but I'm all too human too, and sometimes fall off the wagon. mea culpa

    Now if we could get people to stop constantly pimping Ron Paul here too, then we'd all be happy.

    Oops, there I go again!

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  85. Turd, how's the crude chart looking? It broke thru 103 but the volume doesn't seem all that strong.

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  86. Where's Turd???

    I want to know what he thinks. I finally have my Forex account going!!!!!! YAY starting small but looking forward to it

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  87. blimey glad i didn't sell that spike after all. what's going on? $34.86

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  88. 34.90 I think we might be off and running! Finally bought some GPL - I was feeling left out, not much of a trading strategy!

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  89. Nothing has changed - that is why I am beginning to doubt a serious correction. Gold is also shooting up.

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  90. @Mister- I have had the same thing with Netdania for two days now, but I thought it was something I was doing wrong with the settings, or that they were just displaying it in 1,000's of contracts... tried to go the 'help' route on the site but ran into a dead end. Are were sure its them? I thought it was me ;)

    If we break 35 where are we going today?

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  91. Eric1

    I don't like unions... If "I" own a business..."I" make the decisions and I don't want a bunch of thugs strong-arming me. I'd fire them all like the air traffic controllers...or the NFL players should be now if they won't agree. Do you agree THEY are paid too much? I think teachers are too. And many other government positions. Individually we can each decide if the pay is worth our effort or not. There are enough labor laws to keep things from running out of hand and people getting really screwed. The unions did that...but their time has passed. YOU negotiate for yourself...don't gang up.

    just my differing opinion...no more right or wrong than anyone else's.

    $34.90...

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  92. Someone forget to defrost BM this morning and wheel her onto the floor in time :)

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  93. xtybacq, if this is a metal bull run, i'll be out some time after the guy next door decides to plow in to a miner like many did during tech mania. After the input rec'd on GPL on this board, not as risky a play as buying it on a whim no?!

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  94. I know what you mean Eric ..I have to bite my tongue because I find myself wanting to delve into politics. ..And I don't necessarily agree with YOU!....or Joe. lol. :] ....Ooops.. see.. there I go.. ..It is hard when we hold very sincere heart-felt passionate beliefs. Which I know you do.. joe does.. I do too.

    Anyway.. was sticking my nose in where it didn't involve me as I was just trying to insert a little (very little..I know) humor.

    BTW... yesterday I was depressed thinking I'd only bought into all trading sardines ..no eating sardines. ..Today looks like the sardines may taste a little better! :] I know..I know.. volatility is the name of the silver game....

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  95. Netdania is a half an hour behind on the dollar index too.

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  96. $35.15
    someone's going for it

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  97. for those interested MVG Mag Silver has broken out of its slumber and is playing catchup. Who knows? I hold a position in it but it often moves under the radar.

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  98. @Joe

    (I,I,I)... and there's the rub!

    You, as a business owner have serious responsibility for the safety and well being of your employees. Most successful owners understand this and value their workforce. Unfortunately, too many believe it's all about them, and the workforce is simply a "tool" to be used for personal gain... which is what makes unions absolutely necessary to maintain any semblance of a middle class (for all Americans… not just unionized workers).

    Walker is following the corporate backed Tea Party orders to lead "their" attack on collective bargaining for political, and personal, gain. It's a shameful and arrogant overreach, that risks opening deep and violent class warfare wounds in the fabric of the country… IMHO!

    Apologies to all… back to the Ag / Au watch.

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