Wednesday, March 23, 2011

Levels To Watch

As we head into the close, we have a chance to inflict some serious, technical damage upon the Evil Empire. In silver, a close above the intraday high from 3/7/11 would be very bullish short term. In gold, a new closing high above 1438 will generate headlines. A close above the intraday high of 1445.70, also from 3/7/11, would generate a lot of new buying tomorrow. Watch these levels closely and with fingers crossed. More this afternoon, after the close. TF

221 comments:

  1. Turd, I love your computer generated charts :)

    ReplyDelete
  2. March 23, 2011

    New all time high of $1439.50 London PM fix.

    Hey Nadler, what do you think now?

    Gold Bitchez.

    Bay of Pigs

    ReplyDelete
  3. Turd,

    I'm pretty sure my obsession with your website, charts, and chat have caused my work quality to drop. Fortunately for me I'm a mortgage loan officer and new housing sales suck.

    Keep up the great work, and I will keep hitting refresh button like junkie.

    Cheers.

    ReplyDelete
  4. Seriously, i love the sharpies. It gives so much personality to the analysis. Never stop doing that.
    Save the papers and rack 'em in a folder somewhere. That paper will be worth more than the fiat paper one day. ;)

    ReplyDelete
  5. Oh, also. Any ideas on what to expect for the rest of the week with 28:th looming? What levels to get in on this action for example?

    ReplyDelete
  6. Everyone try and come up with your best anagram of 'Blythe Masters':

    "Lets me by trash" (missing a 'u')

    ReplyDelete
  7. Turd,
    Have you factored in slv and gld seasonality into your daily comments? Both seem to peak at the end of March, fall dramatically in April, and recover into June. Just wondering.
    Ott

    ReplyDelete
  8. Blythe Masters anagram:
    Bless Thy Mater

    ReplyDelete
  9. Marcel - welcome to Canada? Whereabouts in eastern Canada? I live in Ottawa, and grew up in Toronto.

    ReplyDelete
  10. Just wish all these new highs weren't because of all the crap happening the world, but alas its certainly part of it.

    ReplyDelete
  11. Not a lot of thought gone into this, but

    B the sly Master

    ReplyDelete
  12. Blythe Masters anagram =
    Brass They Melt

    ReplyDelete
  13. Any tips on how to tear myself away from the charts and do some work?
    37!

    ReplyDelete
  14. Seems I always catch the end of the thread with my comments so, one more time... any comment on JPM / new vault Turd?

    Here's a link to Kitco Forum Poll results on SLV / PSLV... "Would you switch from SLV to Sprott's PSLV?"

    https://www.kitcomm.com/showthread.php?p=1152142

    ReplyDelete
  15. $37+ .. yeh, sit and spin on it BM!!

    ReplyDelete
  16. all we need now is gold to confirm, then it's to mars.

    ReplyDelete
  17. I know it's too early to call this a day, but until now, and just for the time being, Im loving BM (for letting the thing move up and not interfering) maybe she's giving us a gift from her b-day, for keep booing her all yr long

    ReplyDelete
  18. Harry

    Blythe Masters = hamsterly best

    As in to best a hamster? Or is to do one's hamsterly best to be a really irritating troll?

    ReplyDelete
  19. How about:

    Bear Lets Myths

    Blather System

    Shes My Battler

    ReplyDelete
  20. Oh my, hittin buy stops above even number 37!

    Silver will be in the evening news again claiming world events and not even mentioning how many deliveries are left.

    ReplyDelete
  21. someone is backing up a bus full of fiat and buying the shiny stuff

    ReplyDelete
  22. 37.11 - and I am dreaming up anagrams. I am glued to the internet, usually!

    ReplyDelete
  23. Take that 37 and stick it up your ASS Blyth!

    ReplyDelete
  24. Ah Blythe
    Your the silent type and u caught my eye but I never thought I'd be touching you.
    One night love affair you wonderful bitch.

    ReplyDelete
  25. I tied to skim the last thread comments to see whats going on... I start skimming with silver at 36.80 I finish and its at 37.17, glued to the screen....

    ReplyDelete
  26. 37.15 versus Gold Silver Ratio at 38.75.

    We are going to cross...

    ReplyDelete
  27. @ XTY... love to see BM walk the plank, when JD gives her the boot.

    ReplyDelete
  28. Paul - it is nuts. And lots of quick humour too. But wow, just wow. Even though we sort of expected it.

    ReplyDelete
  29. how many ounces need to settle by next week?

    ReplyDelete
  30. DC - let's hope we all have treasure chests in the proverbial basement. I actually inherited a tooth with a gold filling, and it is getting prettier and prettier. Maybe I will soon wish it was a silver filling.

    ReplyDelete
  31. @xty
    @ DC

    IF JD gives her the boot, all I can think of a poor girl walking out with her {massive} fiat, trying to buy anything in a country in Hyperinflation mode

    ReplyDelete
  32. Damn it .... I'm not getting any work done today.

    ReplyDelete
  33. 87 contracts "delivered" (probably to JPM vaults) today, about 4 million ounces left

    ReplyDelete
  34. I've love to see somebody drop in a couple thousand contracts on market buy. Might just blow the roof off.

    ReplyDelete
  35. I had posted about my real estate experience in the last thread because I wanted to highlight how cheap farm land is some areas. It is quite possible for people in urban areas of central Canada to sell and reinvest in farmland and e debt free. Once on farmland there is the opportunity to achieve self sufficiency in heat, electrical energy, and if really crafty about it, liquid energy as well. Food security becomes a reality also.

    The Canadian tax system is regressive and geared toward consumption taxes. The tax code provides ample incentives for registered farms to avoid most taxation.

    ReplyDelete
  36. Anybody noticed anything from that exercise ??

    http://wcatwc.arh.noaa.gov/pdf/PACIFEX11Final.pdf

    ReplyDelete
  37. Just emailed the WIfe the "Looking Good, Billy Ray" news.

    Jack
    We should probably also always put "JPM vaults" in parentheses too! ha ha

    ReplyDelete
  38. Ok given it enough time, Pat or any other turdling whats up with TRE. Heck HL is up 5% and TRE down nearly 1% at the moment, just have to ask.

    ReplyDelete
  39. OK, hate to pee in everybodys Cornflakes, but this is bordering on scary.
    Anybody interested in calling a support level for Friday?
    Anybody thinking about a massive selloff then?
    I'm preparing to do my first S/G swap

    ReplyDelete
  40. @Eric regarding Lexam
    I got a letter in December from Lexam advising about the merger with Lexam VG. I had forgotten
    I had 84 shares of Lexam since 1994, a spinoff deal from Goldcorp if I remember right.(been holding GG since the 80's) Anyway, I've got to send in these shares and get 2.1 shares of Lexam VG for each Lexam. Looks like I'm in on LexamVG for 176 shares. Maybe it pans out, I had thought they were worthless.

    ReplyDelete
  41. Sinclair always sells into strength...and he's got lots of shares. He'll put em back in on weakness. Just my guess.

    ReplyDelete
  42. I wish gold would hurry up and follow suit. $1445 gold and I'll probably let everything ride over night.

    ReplyDelete
  43. More soapbox rant,

    Our goal here is to live and work outside the current financial system (no bank, no credit card, no debt), outside the tax system (keep income low, be self sufficient in food and energy, position ourselves to maximize tax advantage and minimize gov interference.

    Mrs. Martel is working on reviving local food production and distribution systems in our community. The old folks love us as they see us expounding on their way of life from days of yore. The younger folk think we're freaks (and we are).

    ReplyDelete
  44. I'd say there are some shorts that slowly giving up some very painful positions right now.

    ReplyDelete
  45. last of rant,

    Think about how you want the world to look if we are successful at toppling the current structure.

    I see too many people who "get it", but are using their knowledge to try to position themselves to continue with life as usual after the end of the current paradigm.

    I don't think that's gonna work out too well.

    ReplyDelete
  46. Marcel,

    You're doing what I hope to sell Mrs. Farage on as well. I assume you are in Ontario?

    Nigel

    ReplyDelete
  47. http://www.youtube.com/watch?v=U0Br2qymufc

    ReplyDelete
  48. Look at the g/s ratio!

    Unfortunately, I unloaded 2/3 of my position yesterday ... started thinking there was too much irrational exuberance going on -- all the tin-foil hat talk, those two homos, kid dynamite and brian o'flanagan, etc. got to me. Cost me tens of thousands of dollars.

    Note to self: listen to Turd. Ignore anyone who tries to make you feel stupid for believing this market is totally rigged and silver is very scarce.

    ReplyDelete
  49. Marcel,

    Question for you though. Under the current status quo the purchase of a new home through a mortgage lender requires so many proofs of deposits, bank accounts, reserves etc...obviously one can purchase a house for cash. How do you see this changing in the future, if you do.

    I'm in the lending business (yes, I know I'm part of the problem that is sinking this ship, But at least I'm not in the military anymore).

    ReplyDelete
  50. In my opinion, looking to swap silver for gold is premature until at least $80/oz at today's dollar. There's nothing wrong with doing so, as both will rise, but silver's percentage gain will be much more than gold's. Besides, why would you hurt your return by a few percentage points by doing so at this time?

    When I hear folks getting scared here I just sit back and grin. That's a really good sign actually! Wake me up when this rocket hits $100 late this year early next.

    Yukon

    ReplyDelete
  51. Euro stinking it up. XAG/EUR would of made most fait today. Oh well :)

    ReplyDelete
  52. I'm with ya' on the gold swap. Friday's are unusually strong on the but side. With the ratio tightening, thinkin' of moving 50% physical into gold. I don't think this is the end of the world yet and think I will have a chance to switch back at a more favorable ratio. If not, at least I'll still be exposed to metal.

    ReplyDelete
  53. And sure enough, that Lexam that I bought this morning is the only one on my list that ain't doing squat. figures....

    ReplyDelete
  54. Marcel .... More soapbox rant

    Luv to hear that someone is doing what I am ... working to not feed the EE ... cudo's

    ReplyDelete
  55. If JPM gets to deliver to their own vaults, and then make everyone stand in line to get their silver for 10 years, won't this send the price of comex silver futures down towards $0 ?

    If JPM is allowed to do this, doesn't that mean that sure - the Comex fraud blows up, but JPM gets away and those standing for delivery gets screwed?

    Best to own miners, and not futures contracts at this stage ....

    ReplyDelete
  56. From last thread, Buy side not But side.

    ReplyDelete
  57. Ok so I just read that story about EXK on the previous thread. Hmm, I have been involved in companies that when they announce takeover bids their share price falls. I don't know if this has been discussed as I don't have time to read through all of the 200 comments but what are your thoughts Turd and anyone else on what impact this could have?

    ReplyDelete
  58. Ned,

    I don't need to defend K.D. as he's a big boy and can take care of himself, but he's VERY bullish silver and you've completely misunderstood his point. So he is making A LOT of money today with SLV and you got scared and cashed out yesterday.

    Don't seek to place blame on someone else who is on the right side of this trade, but with a viewpoint you may not agree with. K.D. is a nice guy if you'd take a minute to send him an email, but I understand the catharsis that only misplaced blame can provide. Do as you will.

    Yukon

    ReplyDelete
  59. A couple of great links for getting off the grid:

    www.offthegridnews.com
    www.solutionsfromscience.com
    www.mainemilitarysupply.com

    ReplyDelete
  60. Pailin- You nailed it. Imagine being a big short who has been riding a position for only 2 months, since January- you are now down TEN DOLLARS PER OZ! 27.25 to 37.25 in eight short weeks. If / when panic sets in, we might finally see those happy, magical words "disorderly to the upside".

    I love trading a raging bull market. When you are right, you are very right. When you are wrong, relax- you will be right soon enough.

    ReplyDelete
  61. agophillic

    At its most basic, all that's required to complete a RE transaction is buyer and seller to agree on terms, each hire a lawyer to make sure terms are followed and deed is properly transferred and recorded at end of transaction.

    Nigel,

    Eastern Canada. Land is cheap in NB, parts of NS and CBI

    ReplyDelete
  62. Here comes the selling into the close....

    Lots of options going to standing for delivery next month.

    ReplyDelete
  63. Work? I just ran (kinda literally) and threw on a load of laundry, did the dishes while the kettle boiled, made instant oatmeal, and silver went up to 37.18. Even mundane chores are impossible.

    ReplyDelete
  64. Obama ends Americas tour, cuts Mayan visit short.

    Could something worse be about to happen - that we are unaware of??

    Yahoo story here: <a href="http://news.yahoo.com/s/ap/lt_obama_latin_america”>Tour</a>

    ReplyDelete
  65. Marcel,

    Right...if you have cash to purchase the house.

    If you need to borrow money that is not the case. An ethical form of lending and borrowing must be established that isn't ensconsed in red tape and regulated by the fed/gov't.

    ReplyDelete
  66. So.. who bought the dip? Bought the dip from 36,75 to 35,6, then again at 34,0.

    For all the others that came late yet again: you can't time these markets. Go long, and re-invest profits on dips. ANY dip however small is a buying opportunity.

    If you try to time these markets, all you'll ever accomplish is to feed the HFT algos.

    ReplyDelete
  67. matt,

    IMO share price of EXK is soft because of the dwindling resources. I'm not concerned about this though as it is a common occurrence for underground mines. Defining new resources gets in the way of current operations.

    Note Cooke gave figures for '11 drilling program. They will increase reserves!

    ReplyDelete
  68. I posted this yesterday, but I think maybe some may have missed it.I thought it was worth posting again.


    ""Until now, JP Morgan did not have a NYMEX/COMEX vault license. They had to send silver, for example, to HSBC, Brinks, Scotia Mocatta and/or the Delaware Depository in order to "deliver" it on COMEX. Those vaults have been NYMEX/COMEX licensed for a very long time. But now J.P. Morgan has its own vault license, and the manner in which it seems to have obtained it, is troubling. The bank can now, potentially, deliver short obligations to itself. Yes, you read that correctly. The bank itself, if it still holds short silver positions, and/or the hedge funds/related financial institutions who may have taken over the positions, can now deliver the alleged metal to J.P. Morgan's own vault.""

    http://seekingalpha.com/article/259549-will-jp-morgan-now-make-and-take-delivery-of-its-own-silver-shorts


    And you thought that couldnt print silver!

    MUUUAAAAAAAAA HAAAA HAAA HAAA!!!

    ReplyDelete
  69. Markus,

    Ill be the first to admit lightening up last week as SHTF in Japan, and I'm still a bit scared-Black Swans you know

    ReplyDelete
  70. Hey guys. Can anyone recommend a good coin shop in or around Raleigh NC?

    ReplyDelete
  71. Pining - wouldn't 'disorderly to the upside' be a good punk song title? or description of an excellent party.

    ReplyDelete
  72. Folks,

    I believe Marcel is absolutely right.

    You need to simplify your life.

    You may be wealthy with your fiat, but when it crashes, look out.

    Get physical silver and gold.

    Get multiple sources of food (grow it), water and heat.

    Use your fiat NOW to pay off debt NOW. Don't think for a moment the EE will let you off the hook if hyperinflation happens. Just look at he widespread mortgage fraud that is not being prosecuted and Morgan's fast approval for PM storage. THEY WILL CHANGE THE RULES ON YOU! I could see a new national law indexing current debt to a government bullshit index like the CPI. Your payments will go up, but will your income?

    ReplyDelete
  73. @F
    Oh goody, more lawsuits against the JP Morgue!

    ReplyDelete
  74. Marcel, Chin Music, Agophillic, there are more of us ‘aware’ folks than the PTB realize. Here on the west side of Puget Sound we have a hydro generator feeding off the stream running across our property. Bought the adjacent 2½ acres (lawyer, NOT a RE agent handled the transaction); now renting out the horse barn on it and am putting in a cheap repo’d mobile as a rental. Positive cash flow from all this.

    Accumulating stacks of physical PM’s is great, but supplementing this with self-sufficiency skills & alternate income streams helps broaden the base.

    -Mammoth

    ReplyDelete
  75. Hey Kid Dino:
    Sucks being short eh?

    ReplyDelete
  76. "xtybacq said...
    Markus - feels like we should be popping the champagne!"

    Hehe.. guess anyone who's long silver will be able to afford some good champagne sooner or later ;).

    ReplyDelete
  77. Dont be surprised. If we take out 37.25 we can see 37.50 to 38.00 this afternoon. There is a lot of blood in the water right now and the comex is closed. Just sayin.

    ReplyDelete
  78. Xty- Absolutely! Gives you the sense of something slightly out of control, and very fun. FYI, if anyone is wondering about this possibility in silver, this is a must-read explanation of the nuts-and-bolts of what a Commercial Signal Failure looks like from Turd's main man Trader Dan. Could be a timely read...

    http://traderdannorcini.blogspot.com/2011/02/what-is-commercial-signal-failure.html

    ReplyDelete
  79. Torx1953,
    You can use your proceeds from investing in mining shares to pay off your debts. I'v paid off my CC with my returns.

    ReplyDelete
  80. Markus - I think I remember you catching 34. When we were younger ...

    ReplyDelete
  81. In my miner portfolio I'm noticing a shift into money flow additions going into the big miners, while small producers declining money flows/price. Maybe the big boys/HUI are finally going to play catch up, I think we'll know for sure if the HUI can break through 580 by Friday. Yesterday, volume doubled the average on the upside in many of my big miners, possibly front running a bigger move up in spot gold.

    ReplyDelete
  82. Btw volume is pretty low. Seems JPM and gang just don't want to supply shorts anymore into this advance, not even a couple of hundreds or thousands.

    ReplyDelete
  83. Winter Benton got her $37 in March...hmmmmmmm!

    ReplyDelete
  84. Mammoth,

    I'm here in Seattle. What did you offer for those 2+ acres? I'm thinking about heading east myself because all the trappings and conveniences of the city life will all be diminishing soon, not to mention the coming wars and the close proximity to all the bases around here.

    http://www.joelskousen.com/strategic.html

    ReplyDelete
  85. The boat got a spring cleaning today. Came back to check the market and wow... just amazing! Checked my brokerage account and way up. Next stop. Turdville. Much excitement in the air.

    If anyone is looking around for stocks not discussed on this board much, check out USSIF (US Silver Corp). I've owned it for about 8 months and it's been on a roll. On a tear today.

    Financial news on TV (why do I even bother?). Those guys seem like they just noticed pms. Look for all the latecomers to pile in.

    ReplyDelete
  86. SilverIsKing - I was already thinking that 'disorderly on the upside' would make a good t-shirt. But yours would be good to.

    ReplyDelete
  87. soccerdad--
    aren't you glad you stopped in at coin cottage? :)

    ReplyDelete
  88. goddamit, still waiting for my dip

    ReplyDelete
  89. I go away for a few hours and look at what you guys have done to poor Blythe!


    She'll never be the same

    ReplyDelete
  90. gold to silver ratio is now 38.

    ReplyDelete
  91. Anyone have an opinion on Bix Weir? His theories seem a little far fetched.

    ReplyDelete
  92. atlee et al: as Jesse said, weak volume headed into end of week

    and I think you could be closer to correct than not with silver at 37.50 - 38.00 today

    then we have Turdsday (new word coined in honor of theTurd Master

    well maybe it will be a day filled with sunshine and the wind at our backs

    word confirm: buylo ROFLOL!

    ReplyDelete
  93. @Rob, Why Yes I am, and you just made the list!!!

    ReplyDelete
  94. "Jack said...
    37.15 versus Gold Silver Ratio at 38.75.

    We are going to cross..."

    Ratio will go to 1:1 or even drop below it sooner or later. There is less above ground silver in the world than gold, there is more demand than supply, and most of silver is used in industrial applications from which it will never be recovered while pretty much all gold ever mined is still sitting somewhere in coin or bar or jewellery form so that's a condition that will not change.

    That not saying that the gold price won't go to 5 digits or higher.

    The best recommendation I can give to anyone is, hold on to your silver, no matter how blown out of your mind you will be how far the price has advanced and how great a selling opportunity you think this will be. USGS shows that silver mining production will run out in 15-30 years, meaning NO NEW SILVER, while demand is steadily increasing. How high do you think the price will be then?

    ReplyDelete
  95. Marcel

    My mother was from Bathurst NB .... spent many a summer there as a lad .... have many, many relatives still there .... good people .... aaaahhhh the memories

    ReplyDelete
  96. agophillic,

    Agreed. how much equity do folks have built up in large metro areas in Canada? Seems that selling a place for $500K should liberate some $$ for most folks.

    Our place is 60 acres, house, barn, 2 car garage and small orchard for. . . $72K. The key in what I'm trying to convey is change your perceptions and expectations. Once changed the world opens up a wealth of new opportunities.

    Living here has freed us from "needing" a whole bunch of stuff that is needed for city life.
    We have no mtge, prop taxes less than $1k, our heat is free, our electricity $50/ month, food bill cut in half. Way lower entertainment cost as there is nowhere to go out. I'm working on getting electric bill to $0 and have a plan to produce our own liquid fuels for transportation.

    ReplyDelete
  97. Bix Weir and the Stansberry guy are 2 prime examples that you make more $ giving advice than you do taking it. Fear sells. Just my opinion.

    ReplyDelete
  98. agophillic,

    ethical banking? Let me introduce you to Catherine Austin Fitts @ solari.com and Ellen Brown http://webofdebt.wordpress.com/

    See also Community Bank of North Dakota.

    ReplyDelete
  99. Hey guys... Nube here... I am buying silver eagles for a PM IRA.

    Should I get regular eagles or eagle proofs?

    Why?

    Thanks for the education! Kip

    ReplyDelete
  100. I will probably kick myself for wading in here, but I have to agree with Ned that tone matters. Using foul language (and taunting is a fair call, too) is a sign of a weak argument. Disagreement is fine, but why descend into ad hominem arguments and name calling?

    ReplyDelete
  101. Chin Music,

    Baie De Chaleur!! Do your folks have Acadian roots then?

    ReplyDelete
  102. I frown upon the foul language, but I enjoy the forum very much as well as the community.

    ReplyDelete
  103. From ZH:

    Sprott Physical Silver Premium To NAV Hits Fresh All Time High
    Submitted by Tyler Durden on 03/23/2011 10:33 -0400

    Eric Sprott Exchange Traded Fund

    Several days ago there were a few rather amusing anecdotes in the blogosphere that just because Sprott filed a selling shareholder shelf in PSLV, the ETF was about to crash and burn. What was not disclosed is that in 2011 there have been about 200 comparable shelves filed for public companies, yet nobody called for the imminent anihilation of 40% of the S&P. Stunningly, just because someone requests the right to sell an asset they own when said asset is trading at all time highs, apparently does not mean they intent to exercise said right. To wit: the premium to NAV for the Eric Sprott physical silver ETF just hit an all time record of 23%. We are confident that this is due to JPMorgan being massively long the metal, and also because anywhere one walks these days, physical silver lying on the ground is more prevalent than dog excrement. Also, those who decided to play the premium-NAV compression trade, are advised to promptly close it unless, of course, they are a TBTF bank.

    » 109 comments Read more

    ReplyDelete
  104. captainkipp,

    regular ASEs are fine. You'll probably be selling them at spot when it comes time so why pay a premium for supposed numismatic value.

    ReplyDelete
  105. Downside to all this price action -- I don't dare look at what a 100oz Engelhard is at Provident right now, will break my heart.

    ReplyDelete
  106. Im no expert Captain kid, but the only thing rare'er than a rare coin, is a rare coin buyer.

    They're harder to liquidate.But I suppose a few could be worth worth it. You can sell bullion anytime quickly.

    thats just my take on it ,

    ReplyDelete
  107. SLW pivot point today is 43.95 with 1st level of resistance at 45.19 according to pivot point theory (in my head I'm using 44.00 and 45.20) Currently SLW was pulled back to a recent low of 44.20 between the pivot 1st level of resistance. I'm thinking that I may add to my long position at 43.20 since SLW is still 2 points below it's March 7 high of 46.38 and at that time silver hit a high or nearly 36. If anyone has any additional insight on how to time trades in an out of SLW I'm all ears. : )

    p.s. I'm using long ITM options

    ReplyDelete
  108. You can sell bullion anytime quickly.

    -----------

    Soon the sheeple will be gnawing for it...but not yet.

    ReplyDelete
  109. Stephen -

    I track the spread btw SLW and SLV. At Turd's bottom, and again just the other day, SLW had dropped by almost 25% more than SLV. At its last local max, SLW had outgained SLV by almost 50% more than its previous local min. Here's hopin' the trend continues!

    ReplyDelete
  110. This is my definition of a great day. Both Au and Ag UP in the face of a rising POSX!!

    ReplyDelete
  111. Fukushima Global Fallout Dispersion Animation Update
    Tyler Durden's picture
    Submitted by Tyler Durden on 03/23/2011 11:29 -0400

    http://www.zerohedge.com/article/fukushima-global-fallout-dispersion-animation-update

    Wow! Radiation covering almost entirety of northern hemisphere!

    May be time to bug out, as in to the South America. And I was so happy when spring hit.

    ReplyDelete
  112. USDX going up. Silver goes to $37. USDX trading down trend long term, so it's going to correct. Silver $38 is guaranteed.

    ReplyDelete
  113. Just rereading my post . . . I should add that I am thinking it will not drop all the way back to 44.00 with all the action in silver today but I am usually wrong trying to figure out how SLW moves relative to silver price. SLW always seems to zig when I zag which means it's hard to time entries and exits for swing trading.

    ReplyDelete
  114. Copper once again led the day for the metals.

    ReplyDelete
  115. I just bought a single SAE Proof and intend on purchasing both the GAE and Buffalo Proofs and the Platinum Proof just for shits and giggles! They are truly beautiful coins. I don't plan on ever selling them. I wouldn't buy numismatic graded coins, though some people swear buy them!

    ReplyDelete
  116. xtybacq said...
    "I will probably kick myself for wading in here, but I have to agree with Ned that tone matters. Using foul language (and taunting is a fair call, too) is a sign of a weak argument. Disagreement is fine, but why descend into ad hominem arguments and name calling?"

    Along those lines, this homo doesn't like the Nedster disparaging my kind with his name calling. Just sayin'.

    ReplyDelete
  117. Pretium just took a dive on secondary offering news if anyone was wanting in...

    ReplyDelete
  118. Turd -

    Do you think EXK's activities in the short-term will be a drag on its price? I have some near-term calls I might want to bag if so.....

    ReplyDelete
  119. whoever it was up thread commenting on the money flows into HUI out pacing money flows into GDXJ, Trader Dan has a must read for you

    http://www.traderdannorcini.blogspot.com/

    his feeling is that hedge funds are covering their spread trades (long metals/short miners)

    ReplyDelete
  120. TY Letey . . . seems odd that SLW is $2 lower right now compared to when silver was under 36. You're right that SLW is leveraged compared to SLV and that undoubtedly is related to the observation I'm making. Somehow the hedge funds move the price around a lot and I am slowly getting wiser about my trade timing.

    Good Luck to you my friend.

    ReplyDelete
  121. Pretium.

    I just looked at my etrade account, I knew I should have sold in the AM.

    ReplyDelete
  122. @xty

    I think 'disorderly on the upside' would make great underwears ! ;-)

    ReplyDelete
  123. Seconded, Petey, and well said.

    ReplyDelete
  124. Best time to long SLW is when it's trend is down and silver flat. Usually happens in the AM. I traded it a couple last week on this. They knock out the stops as a tell for the upmove.

    Then again, anytime between now and 3/28 probably be a good long.

    ReplyDelete
  125. You're fine malcolm, just a little dilution...if you have cash to burn it may be a great buying opp over the next day or two

    ReplyDelete
  126. PSLV premium now getting crushed. Does that mean physical silver demand is plunging?

    ReplyDelete
  127. Crushed?

    http://www.marketwatch.com/investing/stock/pslv

    ReplyDelete
  128. Asia will be waking up to much more expensive silver! Witness supernova into Friday close!

    ReplyDelete
  129. Stephen,
    Don't forget that SLW is a stock and sometimes doesn't act like silver.
    As long as guys think silver is going to $45 you have no problem with SLW.
    I'm playing it via call spreads.

    ReplyDelete
  130. Brian O'Flanagan,

    Crushed? At $37.27 spot and PSLV 18.04, the premium is 23.75%. (and changing every second, but still way up)

    ReplyDelete
  131. @xtybacq - problem with mine is by the time you print the shirts, silver may be well above $40

    the idea of t-shirts is a good one that could help get the message out to those who still believe gold and silver are barbarous relics

    ReplyDelete
  132. http://www.zerohedge.com/article/sprott-physical-silver-etf-premium-nav-hits-fresh-all-time-high

    re pslv premium crushed

    posted earlier today

    ReplyDelete
  133. @Pick52,

    I'm long, but I swore to myself that I would try a new strategy. I have noticed that the highs are reached at around 11 to 12:30 each day and to take profits @ over 30%.

    ReplyDelete
  134. Personally, I highly doubt Mr Sprott would ruin his career and reputation over this particular issue. Makes no sense to me anyway. But if you don't like PSLV, or have issues with it, then don't buy it. Try CEF or something else. Better yet, buy your own silver.

    ReplyDelete
  135. just a few minutes ago PSLV was just the lows of the day while silver was at the highs.

    Somethin's brewing folks, and it aint Blythe buying shares.

    ReplyDelete
  136. Marcel,

    Thank you for those links...just what I need at work...more distractions!

    Much appreciated though.

    ReplyDelete
  137. Bought PSLV last week on dip for $15. Laugh when the premium guys start trashing it. It's outperformed SLV every single day I've owned it.

    Here's what today looks like a minute or so ago...

    PSLV
    Sprott Physical Silver T...18.03
    Real-Time +3.68%

    SLV
    iShares Silver Trust 36.41
    Real-Time +2.46%

    ReplyDelete
  138. who's getting crushed?
    PSLV vs SLV

    http://stockcharts.com/h-sc/ui?s=PSLV&p=D&st=2010-10-29&en=(today)&id=p24614010452

    ReplyDelete
  139. Looks like Silver will gap up tomorrow. Very strong and hitting highs of the day :-)

    JFC

    ReplyDelete
  140. Turd Mentality said...
    Hey guys. Can anyone recommend a good coin shop in or around Raleigh NC?

    ===

    Hey there, I'm around the Holly Springs area and the only one I've tried calling is a smaller shop by US1 and 55. Guy said he had no silver (this was a month ago and I never called him back). Apex Coins and Currency (919) 387-4544.

    Google search has a few more around so I might try calling them. If you stumble onto anything in your searches, mind if you send me an email? thecoloredsky@gmail.com

    ReplyDelete
  141. How do you figure? I see PSLV last @ 18.08, flat during pre market @ 17.15, opened 17.45ish. Maybe I missed something?

    ReplyDelete
  142. sorry folks -was looking at gold/phys not silver/pslv

    nevermind!

    ReplyDelete
  143. WATCH OUT! As of 3:00 PM, volume is rising sharply! Is this the beginning of the day's bear raid?

    -- Paul D. Bain
    paulbain@pobox.com

    ReplyDelete
  144. Dig that groovy after-pit-close-trading!

    I picked up an extra contract just after market close. Turning out to be a good idea.

    (I don't post the times I do that and it turns out to be a bad idea.)

    ReplyDelete
  145. JE. . . I'm expecting a gap up tomorrow morning at the open . . . I'm just trying to take advantage of what looks like a ride up to 38.50 silver. Looks like that could happen very quickly perhaps by market open tomorrow . . . seems the shorts have lost control of silver for the time being.

    SLW never quite got back down to 44.20 the second time and I didn't buy until 44.55 just before the pop to 44.80. Resistance is just overhead at 45.15 -45.20.

    ReplyDelete
  146. agophillic,

    I hear you, the internet is endless. . .not enough time to delve into it all.

    more here. . . http://www.thedailybell.com/

    http://www.thedailybell.com/1684/Anthony-Wile-with-Ellen-Brown-on-the-Efficiencies-of-the-State-and-the-Progress-of-Her-Public-Banking-Vision---.html

    ReplyDelete
  147. TPTB losses goin' x-ponential.

    ReplyDelete
  148. Turd called it, if we broke through intra-day high then $37.25. And here we are and have been for a while. There's got to be a sneaky raid coming on before 5 or early am, like 3 or 4.

    ReplyDelete
  149. Jim Willie's latest is out ....

    http://news.goldseek.com/GoldenJackass/1300910400.php

    ReplyDelete
  150. if we dont do it here before 4pm, overnight globex will. Hit 38 that is. I doing a little buying here.

    ReplyDelete
  151. OH baby baby. I love me some SLW. But I really love me my GPL buys this morning.

    EXK, meh. It's in the middle of the pack today. Why anyone sees Turd's linked article on EXK as near to mid-term positive is beyond me. I mean, have you ever owned a miner that announces an acquisition? Head for the hills. You're going to see weeks and months of downward pressure. And how will they pay for it? Sell more shares? Look at what happened to HL when they bought Green's Creek. You can expect dilution or preferred share selling short for years.

    Speaking of the mighty Hecla, it's on a tear too. And I am selling into strength. God I hate HL. Even when I make money on HL I hate it. Worst stock ever.

    And I have no idea what is up with TRE. But I bought a shit load today when it fell in the 6.30's.

    Turd, I am your humble servant. You freaking nailed this. I looked at that chart pattern and squinted my eyes at the pattern. Took me thirty minutes to see it.

    By the way Marcus, ain't margin a beautiful thing?

    -SK

    ReplyDelete
  152. Marcel
    Baie De Chaleur!! Do your folks have Acadian roots then?

    Bay of Warmth !! (had to look it up as my parents did not teach us French) I was the only immediate family member born in USA. My father was born and raised in Sturgeon Falls in the U.P. area ... both families have definite Acadian roots.

    ReplyDelete
  153. Here's a link to the news about Pretium.

    http://newsystocks.com/news/4035780/pretivm-announces-secondary-offering

    I agree with pick52. Maybe a good buy opportunity. I bought this Feb 1 on Bob Chapman's recommendation -- he expects it to go much higher. I expect I'll continue to just sit on this long term.

    ReplyDelete
  154. Jump in and buy ITM calls. When market opens at 9:30 turn this into a vertical spread by selling ATM calls. Ride these until 10;00 and buy them back.

    This keeps you net long and profits from the 10:00 hammer. If you get nervous, just leave the spread on. You will still profit to upside. SLW great vehicle for options. Very liquid and volatile so premiums are Huge!

    I do this on almost a daily basis. If the market does not pull back between 930-10 then I leave the spread on and add long calls just before 10. I usually buy these back around 10:30.

    ReplyDelete
  155. Is it common practice for a broker to charge commission twice on a GTC limit equity buy order if the order is only partially filled on day one and the rest gets filled on day two???

    ReplyDelete
  156. I think $1440 is the old $36 in silver to JPM. Gold just doesn't want to bust that point for some reason.

    AC

    ReplyDelete
  157. @xty

    On Ebay, woman, they actually auction off teeth with gold bridge work and fillngs as scrap. I wouldn't really be interested. BUT I did, between eBay and some odds and ends I had strewn around the house, get way over the 50 ozt that I need for my necklace/bracelete pieces. I guess I'll just have the jeweler return the excess to me in 99.9 pure.

    Verification Word: xraemen

    ReplyDelete
  158. sasa . . . what kind of spreads are you using. The only spreads I've used much of are bull-call but the up-side short-term price of silver seems too unpredictable to me. I get the feeling silver could spike-up hard anytime and so far I have done well taking a simple long call and getting in and out between key levels of support and resistance.

    ReplyDelete
  159. TURD, anyone. Great discussion point on EXK, as I too am concerned in re: acquisition stock price impaCT?
    Opinions?

    ReplyDelete
  160. Chin Music

    That bay gets its name because the warm gulf Stream wraps around the Gulf of St. Lawrence north of PEI and back down the eastern NB coast before heading off to Europe.

    The beaches along Northumberland Strait (between PEI and NS) are the warmest north of the Carolinas. Water temps in summer around 68 to 70F!

    ReplyDelete
  161. Commissions really get fun when your short a buncha' contracts and they get exercised 1 at a time, on different days.

    Must be the daily thing. If GTC fills at different times on the same day should be one commission.

    ReplyDelete
  162. Marcel,

    Have been enjoying The Daily Bell for about 2 years now...great publication

    ReplyDelete
  163. i nearly forgot to mention . . . in and out with the help of Turd and his understanding of the market and his great communication skills. Thank you Turd.

    ReplyDelete
  164. Any info on today's silver CRIMEX deliveries?

    AC

    ReplyDelete
  165. Pat,

    EXK is debt free and cash flow positive. If they do an acquisition through cash from operations without issuing new shares, or borrowing, it will be very positive for the share price. I believe that is Cooke's intent.

    ReplyDelete
  166. I bet we see a lot of deliveries from today (posted tomorrow), thus the huge move when the dollar appreciated as well.

    ReplyDelete
  167. Picture if you will....
    A crestfallen commodities trader
    sitting alone
    in her office
    A near empty bottle of Johnnie Walker by her side
    Surrounded by a few nearly deflated SILVER balloons, and still sporting that colorful hat from the night before
    "Silver at a multi decade high", she mumbles
    She has entered the
    DISORDER ON THE UPSIDE Zone

    ReplyDelete
  168. Brian shows up every day after school lets out.

    Brian can you start posting at 9am for a few days in a row? Or would your parents and teachers object?

    ReplyDelete
  169. Marcel,

    Thanks- excellent points.

    ReplyDelete
  170. AC,

    $1444 is one of Jim Sinclair's "Angels". Honestly, I'm not 100% sure what this means other than it is a significant point. The next is $1531. I think it is in our best interest to figure out how to trade with Sinclair on this one.

    Does anyone have a link for how Jim Sinclair plays these "Angels"? I can't find one that explains.

    ReplyDelete
  171. Hee Hee.

    We've been above 36 so long I almost forgot how long the battle dragged on. Now it's 37 in the rear view mirror.

    ReplyDelete
  172. JE,

    Thanks for that. First time it has happened to me. I've had plenty of trades that take all day to fill and pay a single commission. In the future, I think I'll stick to good for the day orders and re evaluate at the end of the day.

    In this instance where 95% of the order filled in day one, I think I would have rather spent the 2nd commission buy a small stake in a lottery type play instead of on a few more shares of what I'd just bought.

    I hate payin' "the Man"!

    ReplyDelete
  173. JE thank you for explaining that . . . essentially a bull call spread that I am familiar with.

    So you are selling the ATM at the open hoping to buy it back for less at 10 a.m. and if the price goes up instead ypu just leave the spread open. I always try to hold over night so I don't get day trader classification but sounds like it could work for me. I assume you are playing the front month?

    ReplyDelete
  174. The new JPM silver vault is active.

    https://www.kitcomm.com/showthread.php?t=77264&page=4

    the recieved 30K oz of silver today.

    ReplyDelete
  175. agophillic,

    If you're reading the Daily Bell, you're alright in my books!!

    ReplyDelete
  176. The Kitco forum posts are usually about 2-3 hours sooner than Harvey O

    https://www.kitcomm.com/showthread.php?t=77264&page=4

    Looks like they delivered 435K oz today.

    ReplyDelete
  177. Stephen -

    Yes, a bull call spread. Same delivery month also refereed to as vertical spread. Basically I put the short leg on when the market typically, but not always, goes down and take it off(so that I am simply long calls) when I anticipate the up move. Lately most of the down movement has been between 9:30 and 10.

    ReplyDelete