Thursday, March 24, 2011

An Oddity

While silver chugs toward $38 and crude sits solidly at $106, gold is stuck in the mud. Not only is it stuck, its been in a weird, $4 range since noon yesterday.

This simply can't and won't continue. Unless there is suddenly a rush from "risk assets" like last week, silver and crude will maintain their footing and continue even higher. Under that circumstance, gold will not stay in its current location. Take a look at this chart:
The only explanation is that crude is essentially the same price as it was 24 hours ago. But silver isn't!
And why would gold and crude be suddenly tied at the hip? It just doesn't make much sense. Like I said above...an oddity.

Something tells me that this is about to change, however. Gold will not stay here at 1440 indefinitely. It will either break UP or down very soon. Take a look at this chart:
That short-term trend has been in place for a week. That's pretty good. The duration increases our chance of gold breaking higher.
On the flip side, crude seems to be hesitating to burst through the old highs near $107. It could pull back toward $105 without violating its short-term trend. If it does, gold could trade down toward 1434 or 1433.

One quick note about silver...it appears to have taken on a life of its own. It is moving independent of gold and crude and this is very, very interesting. I'll discuss this in greater detail in the next post.

Have a fun day! TF

217 comments:

  1. GPL just stuck it to its shareholders with a share offering at 4.20. 5% haricut. I'm actually surprised the shares are trading above $4.40 as I type. Could have been worse. That's the problem of buying these hot newer names (as opposed to SLW, PAAS, CDE or HL) they are going to pull all the stunts that the bigger names did earlier in the PM rise.

    TRE still getting the tamp down. Very strange.

    SK

    ReplyDelete
  2. For those wondering what is going on with GPL, friend just linked me this:

    http://www.benzinga.com/pressreleases/11/03/m949111/great-panther-silver-announces-21-million-bought-deal-financing

    The Company intends to issue 5,000,000 common shares at a price of $4.20 (Canadian) per common share ("Offering Price") for gross proceeds to Great Panther of $21 million (the "Offering"). The Offering is expected to close on or about April 12, 2011, and is subject to regulatory approval.

    --
    It says they will release what they plan on doing with this money in the short-term prospectus...

    Just passing info along.
    -
    Scott

    ReplyDelete
  3. People are remembering that silver is money, and the manipulation is slowly being broken.

    If Israel Friedman is correct, the speed of upward movement of silver will increase as the shortage becomes more apparent.

    ReplyDelete
  4. The gold chart does look funny. I think it will break out 'to the upside', and is doing what silver did around 36.

    lollercoaster - what is your point?

    ReplyDelete
  5. Turd: about a month ago, one of the regular experts on KingWorld showed a graph that indicated that silver was decoupling from gold and no longer following lockstep. Now whether this new dynamic is because of silver's industrial uses or as "poor man's gold", it seems obvious that silver will drag gold behind it; not the historical reverse.

    ReplyDelete
  6. @Scottj88

    What does that mean for common shareholders (like me)? I have no previous experience with share offerings.

    In the article it also says about offerings in Canada and the US, but what about shareholders from Europe?

    I would greatly appreciate any feedback

    ReplyDelete
  7. Turd -- alternative post headline?

    'Gold an oddity, Silver an odyssey'

    ReplyDelete
  8. I strongly suggest that everyone read "Silver in SPX Selloffs," by Adam Hamilton.

    Why? Because I think that it is obvious that a major stock market decline will occur eventually, probably before the end of the year, and possibly before summer. Dunno when.

    If this prediction eventuates, you can bet your boots that virtually all silver miners will be crushed, at least temporarily, even Silver Wheaton.

    -- Paul D. Bain
    paulbain@pobox.com

    ReplyDelete
  9. GPL- the big money folks who are buying the stock @$4.2 expect big paybacks, and soon. Minimum 20% or so. That takes GPL back to $5+ in their minds. I'll just hang on.

    ReplyDelete
  10. We just hit .80 again, .85 would be new high.

    ReplyDelete
  11. I wanted to see the GSR ratio close to 15:1, but not due to gold dropping ha ha, let's hope it chooses to go up!

    Thanks for the GPL updates, I was perplexed by the sudden down turn and now I don't have to go digging around.

    ReplyDelete
  12. SLW getting some respect this morning

    ReplyDelete
  13. perhaps silver is about to do something dramatic

    curious as to opinions concerning possibilities/probabilities of CSF and attendant outcome

    ReplyDelete
  14. Buy Apr expiry 1440 straddle for $15? Yes pls.

    ReplyDelete
  15. apber: I would maintain that silver has been leading gold since last August.

    ReplyDelete
  16. Hey TURD,
    I know there are several silver bugs like me who thinks one day silver will trade 1 to 1 with gold. Why? because there is 1/6th of the silver in the world compared to gold. Also see where now for every 1 dollar going into gold there is 1 dollar going into silver. With silver being more rare than gold this would tell us that silver may shoot up leaving gold behind. Yes I am a Ted Butler fanatic..

    ReplyDelete
  17. You gotta see it this way: gold has been trading sideways the last ~6 months, since it first reached the 1400 level - and that's okay, it had a good rise before that, and that's what the bullion/central banks do, managed retreat.

    Silver on the other hand is also trading sideways, IF you gauge the market as you've done the last 10 years. It is still held back with great effort, but as physical is so tight and a lot more investors have woken up to the fact how valuable silver really is, and considering how tiny a market silver is, it's really impossible for them to even hold it where it is for more than a few weeks.

    To put it in other terms: with the same effort the BB now can't even make silver just trade sideways, they in 2008/2009 made silver correct 50, 60%. There's just so much firepower on the bullish side, they can't do much anymore.

    You need to read Adrian Douglas' articles to really understand that.

    When gold starts racing towards 1500 or 1600, you won't believe your eyes where silver will go.. I guarantee you that.

    ReplyDelete
  18. The price of gold is undoubtedly tied to the fate of Libya. But it is not as obviously sold short as silver is/was. There must be more gold out there, for one thing. I would have thought it would be harder to manipulate the price of gold, but of course governments have been doing it for hundreds of years. Silver must be in extremely short supply, that is the obvious explanation for the current disconnect. But it does not explain gold's being stuck in the mud. Just thinking out loud.

    ReplyDelete
  19. Pablo

    I posted an answer for you, but of course it's at the bottom of the old thread. Just a heads up rather than copying the whole thing here.

    xty

    There's some bits at the bottom of my answer to Pablo that you might get a kick out of.

    Jeff, and all concerned with Great Panther

    Yes, indeed, it's always better to be a buyer of a miner AFTER a financing than BEFORE. In fact it's always one of the things I look for when doing DD. If they've recently raised money I figure I'm safe from a dilution spanking for a while and am more likely to buy the stock. If anybody in Turd Town didn't already own Panther, but had been thinking about it, well, duh, now's the time to pull the trigger.

    ReplyDelete
  20. Ground control to Major Tom. Get your silver rounds and put your helmet on.

    ReplyDelete
  21. Does anybody else enjoy that Blythe's initials are "BM"?

    ReplyDelete
  22. @atlee,

    Since you and I seem to be the only holders of New Gold, you may also want to check out Alexco Resources (AXU). Check out their news release about their mine starting production Jan 1. Note particularly the $52 million provided by SLW and their usual $4/oz, 25% of production, 40 year agreement. On SLW's side it's referenced as Other Properties - Keno Hill.

    ReplyDelete
  23. soon here, watch the industrial users of silver panic buy.. Silver explodes first followed by Gold.

    ReplyDelete
  24. OMG, what will the action be like when big money and retail start buying the silver sector?

    ReplyDelete
  25. I would just like to offer you all information that 4chan random, the "home of Anonymous", is in fact an FBI honeypot. This information is well known amongst the "oldtimers" on 4chan as the site was taken over by the FBI in 2008. Do with that information what you will, but know with whom you are consorting when you join "Anonymous".

    ReplyDelete
  26. Pailin - do you mean in a childish, scatological way? It sure does seem appropriate in Turdistan.

    ReplyDelete
  27. Ginger & other Beck supporters ...

    Found this in my email this morning and I thought you would find this interesting ... I remain skeptical but I give cudo's where due ... I read this book back in 2001 (long read) and find it to be a pillar on banking information ... I will watch GB FRYday ...

    from G. Edward Griffin

    GLENN BECK WILL PLUG

    The Creature from Jekyll Island



    On Friday 2011 March 25, the entire Glenn Beck show will be devoted to an exposé of the Federal Reserve. I was invited to be a guest on the program and, when it was taped last Tuesday, I was amazed to find that Beck, not only has read the book but praised it highly. In fact, almost his entire opening monologue was based on the information and, in some cases, the very same phrases used in the book and in my lectures. I was delighted to know that someone, either Beck or his researchers, had spent a great deal of time studying The Creature from Jekyll Island. But what is even more encouraging is that several million viewers will be exposed to an hour of economic and monetary truth. This will bring us a giant step closer to actually slaying the Creature.

    The reason I am writing to you is that this media exposure will open up many minds that previously were closed on this topic. Now is the time to reach out to friends, neighbors, and leaders with an invitation to read the book. We must strike while the iron is hot. So I am putting the book on special sale for the next week to encourage you to acquire a few extra copies either to give away or sell. Through the rest of March, the book, which retails at $24.50 alone or $19.60 with any additional purchase, will be on sale for $19.50 alone or $15.60 with additional purchase. We still have about 50 copies left of the previous 4th edition, and those will be on sale this week as long as they last for $14 in any quantity.

    ReplyDelete
  28. As a contrary view which I think also has some merit: The mining companies are pretty smart and have their thumb on the pulse of the PM market. In my experience, whenever you see a big rash of miner financings it often marks at least a short term top in the market. Think about it. These are smart people who are selling stock in their own companies. You really want to fight that?

    Don't sweat a one-off thing with the Panther, but if it becomes a trend up and down your list, then it's food for thought.

    ReplyDelete
  29. Looks like Myth Blasters and the Monkees have taken the day off...


    Eric -

    Thanks for that very informative and detailed answer. I think our strategy at this point will be to either pursue the loan option or decrease our contributions to the minimum required to obtain our employer match.

    ReplyDelete
  30. @ Goudzilla

    Well, it is not usually good to dilute shareholder value, especially again... They are definitely taking advantage of the fact that they can do this, especially in an up market. It depends on where the money goes....

    The already issued shares to pay off their long term debt, and now are doing it again. Not exactly something to be "thrilled" about, but I am not going and selling either. It really will depend on where this money ends up, and for what purpose this was done. If this was done to take advantage of the momentum GPL (definitely a factor) without any direct benefit in exploration/funding new programs... then it a shady move.

    I am by no means an expert though... probably others could say something better than me about this subject...
    -
    @ Paul

    Thanks for the article,
    -
    Scott

    ReplyDelete
  31. lollercoaster is still waiting to buy on a dip to $32. Good luck with that approach, Bud.

    ReplyDelete
  32. @Eric

    Re: GPL, you described my situation. I currently do not own, but am trying to determine what price to get in at. I am currently targeting $4.3. Historically, post these type of announcements, how long does the sell of last? I am guessing that the sell off usually does not get below the share offering price for financing?

    As always....much obliged, sir!

    ReplyDelete
  33. gniuz

    the answer you seek is in the comments right above you.

    ReplyDelete
  34. Eric - your last post actually DID have a lot of the important last post, thread ending, qualities. Unbelievable. Right down to ha ha. Well ha ha right back at you. King of the TEP.

    ReplyDelete
  35. Well I think Gold is harder to manipulate, especially with it being a reserve asset. So they have the central banks set up to take care of that problem, and it helps that they are long, not short. And that they don't have much oversight.

    On the other hand it's funny that institutional banks are used to suppress silver, and are able to since it's a much smaller market. And the large short position on a long term upward trend, will eventually be forced to liquidation.

    And I believe that has contributed to silver being a better buy in this stage.

    ReplyDelete
  36. Why is EXK not essentially tracking silver but with more leverage. Silver burst upwards again overnight and yet EXK has managed to _plunge_. What is going on?

    ReplyDelete
  37. And may I Enquire after your well-being? Sigh, I do own Great Panther (GPR). Just under water.

    ReplyDelete
  38. Thank you Don.

    Have my head in the mkt this AM.
    I was around as a fresh 27 year old commodity broker in 1979. When the silver and gold mkts broke free to the upside, it was nothing short of spetacular. It is different now but the same. If gold can break the 1440 collar, it should be the beginning of something you can not even imagine. The move will be violent and breath taking. I believe we are on the threshold of that now. And that is why the banksters are trying to push us back from 1440. GTLA.

    ReplyDelete
  39. MisesFan

    I think typically the hit we're seeing this morning will turn out to be most of it. If I didn't already own GPL I'd take the plunge right here and now. Or at least half of it, and watch and wait with the rest.

    I do take some secret pleasure in sometimes being able to later on buy some shares at a price lower than the offer price. Feel like I got a better deal than the big boyz, but you don't always get that chance so I'd pick up at least half right away.

    ReplyDelete
  40. Xty - more thinking aloud: TPTB may say they care about what Kadafi does to his own people (including the mercenaries they sent in to pose as freedom fighters), but they care more for his oil and gold.

    So they kill three birds with one stone.

    On second thought, they may actually kill three birds and injure one golden bird... as soon as the Central Banks get their hands on the golden stockpile the PR about gold will flood the market and drop the price. Or, maybe I've been reading Daily Bell and Maybury too much. :)

    ReplyDelete
  41. Don
    I am adding to NGD today at $11. Orders are already in.

    ReplyDelete
  42. News releases out for both Copper Fox and Wildcat Silver. More info on my blog.

    Yukon

    ReplyDelete
  43. Don't despair on the Panther guys! I've said about three times already that I would be a buyer on this news. For heaven's sake don't be a seller on it. You will hate yourself for it. Maybe not today, maybe not tomorrow, but soon......

    ReplyDelete
  44. Good thing about GPL pulling these shenanigans now - it shouldn't happen again for a long while. Like Eric pointed out, share dilution is commonplace in the smaller miners. Look for others to do the same in the coming months.

    ReplyDelete
  45. @Eric

    I used half of my targeted allocation amount for GPL @ $4.35. I will be patient with the other half.

    It is so nice to have control over my IRA!

    ReplyDelete
  46. Don & atlee

    Hey count me in the NGD fan club too. One of my favs.

    ReplyDelete
  47. As a shareholder of GPL what would you prefer;
    a. stock offerings to big money financing which means shareholder dilution
    b. selling a percentage of the future silver forward to SLW for a rediculous $4 an ounce
    c. or going to the banksters for a loan, which will usually mean hedging production for the loans life.
    The company wants to grow and my vote is for option a. Fvck SLW and the banksters!

    ReplyDelete
  48. EE attack.
    Will there be a phase II in 15 minutes?
    Support at 37.50?
    I am looking to buy at support. I am still bullish over the next 6 hours or so. I expected to see silver fall last night and had a nice surprise this morning.

    ReplyDelete
  49. Chin Music,
    I admire your open mind :) ...I am looking forward to this show on Friday. ..And for the record.. I do not think that GB is a perfect person ..or right on every issue. I just believe that he is an honest person and when wrong..admits it..and that he has an honest desire to turn the country back from the path we're on. You can't ask for more than that. I also don't give a blank check pass to Fox News. I understand the corporate and political structure that keeps our media enslaved to an agenda that promotes anything but a free press. But..there *are* a few good intellectually honest media personalities. They are few and far between and I think that's why GB has to have heavy security for his entire family. He puts out the shows that he does at great personal risk. ...But again.. he's not right on every issue ..just a darn vast majority of them.

    I wrote and asked him to please research the silver manipulation issue further. I think that he will..if he hasn't already. I'm sure he's on top of it and the situation with the Fed & banks. I confused the story he was doing the other day. At first listen, it sounded like he was 'taking up' for JPMorgan and putting them in a victim light. Not at all. He was simply exposing the agenda of those who are on tape planning the take down of a bank (in this case..JPMorgan) in efforts to cause economic havoc and cause a financial collapse of our markets. I don't know about many of you..(well..actually I do) but that's NOT the way I want JPMorgan brought down. This issue that he was exposing is separate and apart from the silver manipulation issue. I want JPMorgan held accountable for the silver manip. issue and 'taken down' so to speak.. but I do not want it done by a group of economic terrorists who seek the demise of America. We, here, seek the good for America and the world. We don't want to destroy our country..we want to return it to what it was founded to be.

    So.... the economic terrorists story is scary and I'm glad GB exposed it. ..Several others have jumped on it since. I do hope that GB and others will delve more and more into also exposing the Fed and broader market manipulations that are going on. Thanks Chin Music!....should be a very interesting show and I look forward to yours and others discussion about it!

    ReplyDelete
  50. Chris - Yes. Just like the USD/JPY is being tightly controlled, gold is a reserve currency and likewise controlled by central banks that have had mechanisms in place to do so for hundreds of years.

    re the Great Panther shares: to whom do these guys sell those shares? To insider friends, or just on the open market?

    ReplyDelete
  51. Chin Music, you should watch that Beck special on the Creature from Jekyll Island, about the birth of the Fed monster. I read Griffin's book a few years ago... it was an eye opener. Hopefully Beck will open more eyes.

    Then, if you like Edward Griffin, check out his collaborative documentary on Chemtrails, in a 6 or 7-part series on Youtube. Also an eye opener.

    Will make you go, hmmm...

    ReplyDelete
  52. Shorts working really hard to contain under 37.80. I guess at some point the fight will move to defending 38.

    ReplyDelete
  53. My thoughts are here

    http://www.macro-investing.com/?p=65

    In hindsight this makes a lot of sense. Unwinding would always cause silver to go higher but since the losses of the manipulators are related to the nominal price of silver not the spread between silver and X it makes sense to unwind during a time when things that normally trade with silver are flat (at least to some extent). This flatness gives the outsiders the impression that there are more gains to be made in something else (in this case gold) as it is lagging behind. The reasoning is pretty basic- if gold and silver trade together and silver has moved up big and gold hasn’t either gold will have to catch up or silver decline.

    ReplyDelete
  54. For any that are PHYSICAL Silver participants, I've just got an email alert re 100 oz RCM bars from : http://silvergoldbull.com/s/

    As many of you may have heard by now, the Royal Canadian Mint 100oz Silver bars have been in extremely short supply for the past month. This stems from some sort of machine failure at the Mint which required a part from Italy. This then made an already very thin 100oz bar market even tighter.

    It is with this in mind that we are thrilled to announce that we have secured 100 of the 100oz RCM bars which will be made available on www.SilverGoldBull.com for sale with immediate effect. The demand over the past few weeks of this supply disruption has been overwhelming and we are very fortunate to be able to offer them to our loyal customers.

    While production is no doubt set to resume at some point down the road, we have as yet heard no time-line on the resumption of regular shipments. This could mean that the 100 bars we have managed to get our hands on will not last long!

    Sincerely
    Silver Gold Bull, Your Trusted Bullion Dealer

    ReplyDelete
  55. OK...we've cleared out. Silver wants to run to 38+. Crude is back above $106. Let's do it.

    ReplyDelete
  56. Eric - I agree with your advice on staying on the GPL horse. It happens to the best of'em. And really, in view of the moderate dilution, not a bad takedown.

    Maybe it's because they took Canadian Dollars instead of USDX. Kidding. Kinda.

    ReplyDelete
  57. Buncha shorts just gave up the ghost. I love watching XAG pop 5cents in 2seconds :)

    ReplyDelete
  58. Scotj88, thanks for the response!

    OK is now as much down as GPL: -7% each...

    ReplyDelete
  59. SLW, a wolf = a bankster in silver sheep clothing

    ReplyDelete
  60. re: MYANMAR. Aw geez, like the world needs more suffering. I sure hope these quakes aren't HARP inspired.

    ReplyDelete
  61. @ Ginger, Chin Music, & Glen Beck Fans...

    Be careful...
    Glen Beck speaks the message of the elite...

    The bankers know what is going on.. and the only people who will successfully commit "economic terrorism on bankers," will be the bankers themselves when they are ready....

    Be vigilant...

    http://www.youtube.com/watch?v=xZEnV_-R-10

    -
    Scott

    ReplyDelete
  62. eric#1.. yea those miners are so smart.. ask Barrick how it felt to eat about 8 billion dollars when it hedged its production.. Look at Korean zinc who sold a whole years worth of silver to sumitomo group at 25.00 an ounce In December.. yea they are real smart..

    ReplyDelete
  63. Reuters reporting large Earthquakes in Thailand and Burma..

    ReplyDelete
  64. I see Glenn Beck more as performance art than as an actual person. This is not a man to be taken seriously.

    ReplyDelete
  65. Added a bunch of GPL on the dip. I'm choosing to look at it as a gift. It's not like I was going to sell my position anyway. So, why not buy the one quality miner currently on sale?

    $38 is gonna get smoked today...

    ReplyDelete
  66. Orko silver fell off a cliff with that last EE takedown. I don't see any news about them. Anyone else own this silver miner? It's rebounding a little, but wow. Reminded me of Great Panther this morning.

    ReplyDelete
  67. GB is Satan. Don't be fooled, really, a "libertarian" shill for NWO. He manages the contrarian "story" for those so inclined (that watch Fox). This way Elites control (yet again) both sides of the battle.

    ReplyDelete
  68. I've been wanting to get into GPL, but have a question: if a new offering is coming @ $4.20, why hasn't the share price dropped all the way to that level? Seems that if investors know a large number of shares will soon be available at that price, there's no reason to pay $4.35.

    Or is it typically just large investors who can get blocks of shares from that new offering at the offering price? I'm new at this, and really appreciate the insights and info from Turd and all others on this board.

    ReplyDelete
  69. I literally own 500 shares of Tinka Resources Ltd, so it must have been my last $250 of monopoly money (i.e. the money I am allowed to lose). It is doing very well today, up 13%. I heard of it here, fo' sho'.

    ReplyDelete
  70. Something tells me POS will roam rather free if we break through 38. Like yesterday when we topped 37. (DAMM - that was YESTERDAY!)

    ReplyDelete
  71. The magic 1444 number has arrived for gold. Now we need a close above that x 3 and we're off to the races, according to Santa.

    ReplyDelete
  72. wow! And maybe gold is finally following...

    ReplyDelete
  73. Nice call on $38. Impressive. Truly impressive.

    ReplyDelete
  74. TYF - that is my question, too. Who gets to buy those shares? If they are sold to insiders, then it is probably positive news but if they are going to be sold on the open market, then the price should fall to match the offering.

    38.07!!!!!!

    ReplyDelete
  75. Why are people so fascinated with silver...

    Gold Just broke all time nominal highs...
    As far as the world is concerned (right now), this is much bigger news....

    Look for the violent explosion coming in gold as atlee has suggested :)
    -
    Scott

    ReplyDelete
  76. I did the silver swap yesterday - my monster box of Eagles for his pile of minty Pan American bars + $1100 cash. We did the exchange in a Chase bank parking lot. Thought y'all would appreciate the irony of that...

    ReplyDelete
  77. Ginger

    I will admit I made those comments the other day without hearing the GB show spoke of and still haven't. If you have a link please post as I don't have time to search if there was one. I will listen and watch so I can be more informed. I have watched him before but something does not sit right with me. I have long ago learned to trust my gut but I always try to be fair.

    Larry

    Have been aware of the chemtrails info since 2005. Many of my friends thought I was nuts back then but time brings truth. Have not seen Griffin's video allthough I know it exits. If it's on youtube I'll watch it but I don't want to spend money on something I allready have a handle on. Thanks for the heads up though.

    ReplyDelete
  78. Turd - you da man!

    lollercoaster - BTFD!

    ReplyDelete
  79. Buy triggers being hit all over SLV options.

    1444 gold!
    38.00 + silver!

    Wowzers!

    ReplyDelete
  80. xty

    Here's from the GPL release:

    "a bought deal financing with a syndicate of underwriters led by Salman Partners Inc and including CIBC World Markets Inc, Stonecap Securities Inc, Dundee Securities Ltd, and Stifel Nicolaus Weisel Canada Inc."

    So those are the folks who just bought shares at 4.20. Typically some of those shares will go into in-house funds, but most of them held in inventory to be sold to the public. That's why sometimes there's some follow on weakness for a while after the financing, but most of the hit typically was today right at the open. Those underwriters hedge themselves quite a bit and that's why the big hit right away.

    I'll say it one more time for the group. DO NOT DESPAIR on GPL. This is totally normal, par for the course, standard operating procedure in the world of junior miners. If you do not understand that, then maybe you shouldn't be in junior miners in the first place. Eric out.

    ReplyDelete
  81. Paul Bain,
    Your decline will be in a few weeks after we get some new highs Mar- April in pm. Look for pm low 6/13-14. This is gonna be mean. there are no rules or correlations, see earlier post. Markets are going to get "disorderly and violent". Armstrong, Turk, Hubbart. Hoye.

    ReplyDelete
  82. BTW...I'm not here to argue for or against Glenn Beck or any other media person. Everyone here has their own reasons for liking/hating absolutely any name we could bring up. There will always be a list of those arguing for and those who are against any given name we could throw out there. ....I only was trying to bring light yesterday to a Big Story that was being broadcast on a potential attack on JPMorgan and our markets by an SEIU insider guy (Lerner). That is all.

    If you like GB..keep on liking him until you find reason not to. If you don't like him keep on not liking him until you find good reason to. I try to base my own feelings, thoughts, ideas, and decisions on what I know to be true. You all have to do the same for yourself.

    ReplyDelete
  83. gold record actually now. Why isn't it exploding? :)

    ReplyDelete
  84. Yeah... all hail the Turd!!
    Gold @ new all time highs!

    ReplyDelete
  85. We have crossed.

    GSR under 38, spot price over.

    ReplyDelete
  86. This comment has been removed by the author.

    ReplyDelete
  87. Scott - Gold was the subject of Turd's thread, and silver did just bust 38 = give people a chance to breathe ...

    I hope the earthquake in Myanmar didn't affect too many people - they are amongst the most down-trodden on the planet.

    By some great good luck we were put on to a Sprott gold fund years ago, and so had slowly been buying in to that. Then as we awakened, it was natural to use his funds and our broker was cool with that. Those 'stodgy' funds, our safer money, has been doing rather well these past few days, I must say.

    ReplyDelete
  88. Pablo

    One more option to consider if you can't get a 401(k) loan.

    Credit Card? Got some credit limit capacity on a decent rate card? Or can you get a new card with a one-year teaser rate? Buy your PM's on the card. Make your payments with the money you save by no longer contributing to the 401(k).

    It's an option that will not appeal to everybody, but it's something you should at least kick around in your noggin.

    ReplyDelete
  89. Profit taking ahead at $38.50?

    ReplyDelete
  90. @Scott - I agree that today's gold milestone is more important. However, my silver related holdings outsize my gold holdings, so the silver price tends to draw my attention. I never ever worry about my gold, but silver can be a cruel mistress.

    ReplyDelete
  91. Pablo

    There's some sweet poetic revenge in getting a cheap teaser rate card from Chase and then buying PM's with it. I know. I've done it.

    ReplyDelete
  92. silver moves tend to be 2x gold's.
    More gains, more losses, more drama.

    ReplyDelete
  93. housing math et al,

    I met Glenn Beck last summer after I appeared on his show as a guest. An interesting man! I'll defend him here a bit... Given that he holds far right views, and tends to say inflammatory things, my colleague and I both concluded that he loves our country and want to see people gain power who know how to fix it.

    As you say, Beck is a performer, but a genuine one. He did the whole one hour show without a script... He talks off the cuff. And he did reign in some of the things he wanted to say because my colleague and I told him we could not verify them. He has a researcher with whom I corresponded at length to prep him for a week before the show. I came away from the show with a higher degree of respect for him and what he is trying to do.

    I really liked it that he promoted my book and I just received a nice royalty check for 2010 that will go into silver.

    I don't watch him much, but I notice that he goes too far out on a limb regularly. Too bad Beck doesn't read Turd's blog. Can you imagine if his followers all started buying PMs instead of the books he promotes? Maybe I should email him. It might get past his screener to his researcher.

    ReplyDelete
  94. Eric #1 -

    We just got a "pre-approval" in the mail last week for a Chase Freedom card with 18 months 0% interest, and 1% cash back. Wouldn't it be ironic if JPM paid us 1% commission to screw themselves?

    That's a wonderful idea!

    ReplyDelete
  95. Eric - thanks for the info. I am certainly in for the long haul. I just checked, and I am even at 4.34 Canadian. I only have money in miners that I can literally lose. All of. Every last penny. We have shared household finances, and then two separate accounts that we have just sorted out so it is hard to tell how either one is really doing. When I didn't look for those last few weeks, and then looked, I was about even. So if we take that as a start date, I am 'to the upside' but not yet disorderly. And much kudos to all here who helped.

    ReplyDelete
  96. As noted on last nights thread, I went to bed last night with visions of 1445 in my head. Maybe I was being conservative.

    Holy Crap I gotta get to work. Those tax returns are not going to check themselves. See you guys later.

    ReplyDelete
  97. Does it seem strange to anyone else that the miners are lagging so much despite this surge in metals prices?

    ....Orr.. ...maybe it's just my miners. :[

    ReplyDelete
  98. What do you turdies think of SLW (Silver Wheaton)? Buy & hold strategy. No experience with options.

    ReplyDelete
  99. my screen is still celebrating St. Pat's Day :)

    my first dip into options +++ :) + :)

    ReplyDelete
  100. GDXJ looking to make a stand...

    ReplyDelete
  101. Anyone buying silver or gold at these levels? I finally got some cash into my self-directed IRA but I feel a bit weird buying at all time nominal highs.

    ReplyDelete
  102. Free at last, free at last, thank god almighty we are free at last!

    ReplyDelete
  103. Pablo

    18 months? at 0%? holy crap you got a way better credit score than i do my friend.

    If it was me, I'd jump all over that card, wehether I could do the 401(k) loan or not. Just sayin........

    ReplyDelete
  104. Dr. Jerome,
    Very interesting story you recounted re: the Beck show! What was the theme of the particular show that you were on?..AND... what is your book?.. I would like to read it.

    ReplyDelete
  105. dd,
    I don't see you around here much anymore. I enjoy your posts. ...Though they are much too short in length. :-]

    ReplyDelete
  106. Eric #1, Pablo,
    I bought silver at 33 with a teaser rate for 15 months... Looking alike a brilliant idea these days. But it totally went against my grain to do it. I wonder how much that 200 oz will be worth in the summer of 2012?

    Gotta go meet the tax man...miss out on watching the charts today!

    ReplyDelete
  107. Ginger

    Maybe you need different miners. Impact Silver maybe.

    Oooh Snap! Sorry about that I just couldn't resist. My dark side coming out.

    ReplyDelete
  108. Ginger,
    http://www.youtube.com/watch?v=8t3u8bIz8UQ

    ReplyDelete
  109. ROFL Eric. :-[

    (though maybe I spoke a bit too soon..they are catching on [just a little] right now. ....CZN IS NOT DOIN' BAD I MIGHT ADD!!!!!) lol. ;)

    ReplyDelete
  110. @ Ginger

    Yes my miners are lagging as well (we share a lot so :) )... could be interpreted as fear of a correction coming, lack of investment confidence (market in general), lack of recognition (it's not like the public see's silver go up 1$ and goes and adds to their favorite silver miner), and probably a lot more.

    SLW and HL are well into the +% right now, which is my sign if there is a raid coming or not (when they are disproportionately negative when other things are positive).

    Hopefully the market conditions start to set in... if we open at these levels on Monday (or high obviously), and our miners didn't go up a good deal, then I will be quite perplexed and even a bit worried :O
    -
    Scott

    ReplyDelete
  111. Doc J

    Yes I know what you mean. That's why I said "It's an option that will not appeal to everybody". I'm betting that Turd Town denizens also tend to be anti-debt. But I gotta be honest with my buds here that I am up to my neck in the "cheap credit card for PM's" play. It's been a home run so far. fingers crossed.

    ReplyDelete
  112. Holy @#$%&. Now both of my new holdings from last week have me wanting to sell them due to the unexpected action. Not going to namedrop because I don't want to be accused of pumping, but one is now up 60% from when I bought and the other 30%. I dont like quick gains such as those on long-term picks and it is messing up my strategy. Anyone have that happen before and want to share some advice? I am tempted to go back to day-trading and forget investing for the long run.

    ReplyDelete
  113. I'm a no-debt-ever sort, so I'm struggling too with loading a Chase card up with PM purchases. They just sent me a line of $12k, begging me to burn it up at 0% for 12 months and 10.99 thereafter.

    It's so right and so wrong at the same time.
    I'm torn.

    ReplyDelete
  114. E #1,

    I second your motion for Impact Silver!
    Also like Fortuna these days...

    ReplyDelete
  115. Dr. J

    "I really liked it that he promoted my book and I just received a nice royalty check for 2010 that will go into silver."

    well I'd be on his side too (just kiddin') :)

    ReplyDelete
  116. Nice volume picking up in EXK..

    ReplyDelete
  117. I hear ya Scott ..That SLX just can't find it's mojo. It's traded in this same .10 range forEVER. ....I believe it's a winner in the making though and in time.. WE WILL BE REWARDED.

    Yes.. we do have many of the same miners. Soo.. here's hoping for a breakout to the UPSIDE and soon. I gotta feeling it's coming. :]

    ReplyDelete
  118. It's so right and so wrong at the same time.
    I'm torn.

    --------------

    DO it and pay them back in inflated dollars...win win.

    ReplyDelete
  119. Michael - I am sure you will get totally conflicting answers. It really depends on your comfort level I guess. I would advocate buy and hold with slw, but then I would almost always recommend that. It is funny, but I think because I am of a certain age, shall we say, I came into investing in gold and silver when it was seen as risky and weird. People recommend things like having 5% of your investments in PMs - so to be where we are is considered nuts by my cohort demographically. But if you are younger and don't have as many constraints and dependents, you might look at it very differently.

    ReplyDelete
  120. And work does call, but too faintly. Sporadic bursts will have to do.

    ReplyDelete
  121. Doug

    Maybe you haven't been around long enough to get the joke. Quite a while back Ginger mentioned Impact, then after I told her I bought it she fess'd up that she had sold it and I've been poking her about it ever since. Just one of those inside baseball things among friends.

    ReplyDelete
  122. Justin

    +60%?? and +30%?? Nobody but nobody will blame you for taking some off the table buddy. Reallocate to something that hasn't flown the coop, or sit with some dry powder, take a breath, do some DD, and reload from there.

    ReplyDelete
  123. So busy keeping my finger on the sell trigger, I just realized we broke through $38!!!!

    ReplyDelete
  124. Justin, my strategy with rare earth miners has been to sell half when a stock doubles, let the rest ride, and reinvest the money taken in another miner or option play.

    ReplyDelete
  125. Well the fed prints on and here comes gold in the back stretch
    Silver's, goin' to the inside
    The Dollar's, holdin' back, n' tryin' not to fall

    ReplyDelete
  126. @ Eric,
    Thanks. I will more than likely be doing exactly that by the end of the day. Keeping my eyes on the charts for the fist signs of a reversal. I got lucky with these two, had a choice of 3 I wanted last week and the other was Rye Patch which still can't get back to where it was trading before we took hits last week. These two smashed through those levels and refuse to look back so far.

    ReplyDelete
  127. Scott, it could be worse today. You could own EGO, TRE, NG, AUY and GPL. That would be The Biggest Loser of the pm patch.

    FYI: I own all of these but EGO. It's part of the game: you end up owning the shinola and the shit.

    SK

    ReplyDelete
  128. Haha I just got off the phone with Chase, and everyone's favorite garage band Myth Blasters and the Monkees has approved us for an obscenely high 5-figure limit on a Chase Freedom 18/mo 0% card. Can't wait for it to get here :)

    Eric your plan is excellent - we'll put less in the 401K and use that savings to pay off the card.

    Why didn't I think of this before!

    ReplyDelete
  129. Justin

    I have to agree with Eric1 ... it's never yours until you book it ... if you make that desicion don't look back and regret if it goes higher ... upside is you booked profit ... always good

    ReplyDelete
  130. .

    George Jones fan much? Great Tune!

    here's the original. There are other, newer ones, etc but there's no school like the old school.


    http://www.youtube.com/watch?v=ERW8z8Y6MHk

    ReplyDelete
  131. ISVLF getting some love today.

    ReplyDelete
  132. I wonder how much the recent movement in AG will affect the commercial hedges? We may be getting much closer to a commercial signal failure as outlined by Trader Dan awhile back.

    This run-up has been over a short time window making it much more difficult for commercials to ensure they have proper capital allocated.

    ReplyDelete
  133. Gold in EUR is going sideways/down now for about a year now! actually haven't made any €'s on my physical gold position. Over the same time frame that gold/euro earned 0%, silver has moved from €15 to €27. It's time gold started moving along! just bought 5 may $151 GLD calls (for only 0.76 cents due to low historical => low implied volatility) to make the previous lagging up once it starts moving.

    for comparison (IB numbers):

    GLD historical volatility: 14.33%
    GLD option implied volatility: 15.09%

    versus

    SLV historical volatility: 34.90%
    SLV option implied volatility: 38.20%


    Another interesting observation: QQQ and other stock indices have high implied volatilities for their OTM puts and low implied volatility for their OTM calls!

    example: QQQ (currently at $56.50)
    historical vol. 20%

    QQQ may 50 puts: implied vol. 27%
    QQQ may 62 calls: implied vol. 14.5%

    WOW! market says a correction is due?!?

    ReplyDelete
  134. HUI just broke through Trader Dan's resistance level at 580. Currently at 583. I am just sitting here waiting for the good old days when my GG, ABX,and NEM popped 4 bucks in a day. It's what happened in the summer of '08. Just before every miner in the word got rat-fucked by the Lehman collapse.

    If the miners/HUI have finally lit up, we will see days with 15-20% upside. It happened before; it will happen again.

    SK

    ReplyDelete
  135. So Glenn Beck does a one hour show w/o a prepared script and speaks off the cuff? That's astonishing to me. What a talent. Whether you like him or not, that's a skill you have to admire. No wonder he rakes in big dollars.

    ReplyDelete
  136. This comment has been removed by the author.

    ReplyDelete
  137. Dr. Jerome ..That was just a 10 minute clip of the show.. I kept thinking he would introduce you or show the book.. but it's not on there..?? ....Any lengthier/better link to the full show? ...I did dvr that show but never got around to watching it and I'm sure it's been deleted now as my husband routinely deletes my stuff to make room for 'House' episodes. lol. :[

    LOL Chin Music.

    ReplyDelete
  138. Justin

    looks to me one of those is Wildcat and another may be Tinka :-) (I'll name drop for ya .. don't really know if I'm right)

    ReplyDelete
  139. @ Chin,
    True dat. I don't like getting greedy and you're right, there is a big difference between prospective gains and real gains. Both are still ticking up and that is keeping me from pulling the ejection handle for now. I have a feeling the will turn quickly and it will be, EJECT EJECT EJECT!!!!

    ReplyDelete
  140. Chin Music,

    A wise man once said that nobody went broke from booking profits!

    ReplyDelete
  141. I guess the wise man didn't live in a soon-to-be hyperinflationary environment :)

    IMO: if you did DD, only take profit for putting the money to work in something which is currently better valued (i.e. certainly not USD in your account)

    ReplyDelete
  142. "ISVLF getting some love today."

    Sure, sumo.
    Rub it in. :/

    :D

    ReplyDelete
  143. More miner updates on my post.

    Yukon

    ReplyDelete
  144. Dollar is down to 1/38th an ounce. Don't forget to put some portion of paper profits into physical. The hunt brothers couldn't keep the market cornered because they were too few and had too much paper and leverage...the remnant around the world who want a new monetary system and frequent site like this and ZH and LewRockwell and Daily Bell are now more than 1 million. A good number of these 1 million are already millionaires. I'd venture that around 50% have net worths above $300,000. We have enough welath to topple the monetary regime.

    Silver is the week spot...concentrate firepower and keep firing....week after week...keep enough powder dry to go month after month. This is the war. Ignore the fake republican vs democrat distractions. Don't leave yourselve too exposed to enemies firepower with paper and leverage.

    Turd is helping our forces improve our timing and recognizing enemy strategies. This is a gift, use it to maximize amount of additional weekly and monthly physical purchases.

    Thankyou Turd...you are a general in the infowar. This is your battelfield promotion...the best part is that your moniker is the best disguise you can get to keep yourself from being well known to the enemy. Don't change your moniker. It keeps us humble and reminds us that we are battling a force that is very strong, we can not underestimate this enemy. Perseverance and soundness of our logical capacities are our #1 weapon.

    ReplyDelete
  145. e736e346 ...
    A wise man once said that nobody went broke from booking profits!

    There is wisdom in that !!!!

    ReplyDelete
  146. Fed's strategy is working. I'm feeling a wealth effect.

    ReplyDelete
  147. I have to share these two now since apparently not all silver miner picks are up today and riding the silver wave. I'm sure some of you regulars know which two I'm referring to, but here are their charts. Even with these recent gains they still are showing "buy" signals for some crazy reason. I don't get it all. They must be getting pumped somewhere out there on the web, I know Yukon shared an article yesterday talking about one, so that kind of explains the jump up a little.

    ORM

    This other one I had been watching for a while and really liked the news they've been putting out. After SGS started confirming a lot of what I already believed I decided it was time. Thought it would be a little while before seeing good gains, but he called for them soon and was spot on.

    Tinka

    Again, I don't recommend anyone buying into either of these right now. I'm the opposite of a pumper, telling people to stay away from things I own. GPL is on sale and I own that, you can get that if you want. ;)

    ReplyDelete
  148. @ Chin,
    You were right on one! Ha ha, I've been doing DD on wildcat ever since Yukon mentioned it. That one is on too much of a tear for me to buy in at this point though without learning more first, but wish I would have thrown some at it when Yukon name dropped. All three of these earners are doing exceptionally well and that keeps me with an eye of caution on them until things cool down. Skeptical pessimism is my friend right now.

    ReplyDelete
  149. I think I need to keep a closer eye on silver spot price right now. They seem to be attached to the hip of Lady Silver.

    ReplyDelete
  150. I wonder what the take-down will look like today pre-1:30??

    ReplyDelete
  151. Dan Norcini thinks the strength of today's move means we're headed for the next major resistance: $40

    http://traderdannorcini.blogspot.com/2011/03/silver-blows-through-38.html

    ReplyDelete
  152. In a bit of defense towards GB, his shows I have seen lately are still doing a lot more for the average Joe than dancing with the stars, last time I checked.

    He has been exposing the government for what its worth, and some people behind the scenes that are pulling some of the strings. His reference to Obama as a puppet, is spot on in my opinion.

    He has been explaining inflation in good detail, and is an advocate for preparing for future economic disaster through stockpiling and long term food storage. As any one of us can surely understand and respect.

    So I think if you can get past any kind of hidden agenda, I think some of his shows are pretty entertaining and have some pretty good info.

    ReplyDelete
  153. et all, those that do go broke by taking profit are those who don't sell soon enough when they are down.

    e736e346-32cb-11e0-89fe-000bcdcb5194 said...

    Chin Music,

    A wise man once said that nobody went broke from booking profits!

    ReplyDelete
  154. @Dr. J
    Nice work on the Beck show. Very nice.
    @Ginger
    Go to the full show link and the Doc shows up the second part.

    ReplyDelete
  155. Not GOOD -

    Toyota shutting down US operations because of supply line issues

    http://finance.yahoo.com/news/Toyota-tells-US-plants-cnnm-1619359983.html?x=0&sec=topStories&pos=main&asset=&ccode=

    ReplyDelete
  156. I don't recall ever having seen a Thursday raid after the close, or an overnight Thursday raid. Seems like we could be all clear through tomorrow...anyone remember one offhand?

    On the flip, someone mentioned that Jesse expected one last raid before the 28th during light volume, most likely Globex hours

    Hard not to sell here, so anxiously awaiting Turd's next round of advice / instruction

    ReplyDelete
  157. Question for the community, anyone buying physical at this level? or are you holding out for a dip?

    Thank you

    ReplyDelete
  158. If weve been doing good technical analysis and understanding fundamentals in the last few years,seems to me the time to buy the miners was last july,and february, and july and august 2009, and this past january 25 bottom....but very few are a bargain now.

    ReplyDelete
  159. Is this a breakout in gold, or do we need to be prepared to do something like this???

    ReplyDelete
  160. Ooops.. didn't see that ...Thanks Vernon Wormer!

    ReplyDelete
  161. Shill, I and likely many who post/read here, have purchased physical (gold/silver) already and will continue to accumulate moving forward at any price but especially on the dips down. The paper price will be much much higher in the long run for both metals & today's prices will look inexpensive. Moreover, down the road, one might not be able to get their hand on the metals as everyone will plough in once they realize paper currency is worthless.

    Get it now, invest/trade to build more paper & buy some more. Rinse & repeat. But buy the physical before doing anything else.

    ReplyDelete
  162. All, I am taking up a collection for BM and the many suffering silver shorts, some of whom realize they are witnessing only the life-off of the silver rocket. Many of these shorts have already gone through their entire supply of Dependz and are in real need. Please contribute a silver round or two at:

    www.fubm.xxx

    Thank you. This has been a public service message or the Foundation to Save the Buried Shorts. :-)

    ReplyDelete
  163. I believe the EE has lost control of silver. At least for now.

    We are punching straight to 40, non-stop.

    ReplyDelete
  164. @Shill
    Not buying physical right now, waiting for dip. Even if that dip is only low 37s. I need to see a dip and then a consolidation of more than 10mins before committing to paying a premium.

    ReplyDelete
  165. @Shill,

    Does it matter? I mean its only going up. Think about it this way, Silver in short supply, USGS states we will exhaust silver in 10-15 years, Comex default possible, SLV fraud, GLD fraud, PM shorts sold 100:1, US gov bankruptcy near, Euro demise eminent, the f'ing world is going mad, WWWIII not to far off. I don't think a few dollars here or there matter in the long run. I probably left a few other things out but you get the picture. BUY NOW!

    ReplyDelete
  166. @Chris. Very Well Said.

    My word verification: STERD

    ReplyDelete
  167. The shorts should all be in a cold sweat by now. This should be a very interesting afternoon as they lapse into a deep religious experience.

    ReplyDelete
  168. I would love 40. Still watching my forex buy at 37.738 from 4hrs ago. Will sweep those gains to buy some physical, at some point. (when??)
    At a minimum I think today's gain has wiped out the over-spot premium I'll pay on a 100oz bar.

    ReplyDelete
  169. Took the advice of those of you much more experience than I and sold ORM. It just happened to start showing sell signs at the same time so I feel confident that it is near it's top. Thanks for the words of wisdom, even if it move up some more. Now I am going to wait for it to cool down and am putting it back on the watch list.

    ReplyDelete
  170. Using credit cards to buy silver (by writing myself a CC check to my checking account and withdrawing the cash to spend at the coin shop to eliminate tracking) and supplies is what I have done for several years now. I always make sure that I buy enough to feel less vulnerable and yet pay off the promotion balance in time to avoid the interest.

    SE

    Part II follows...

    ReplyDelete
  171. Thank you very much for your reply's folks.I do have a vast amount myself but I was just curious as to what other like me do as well..Accumulate.

    Great forum...great community.

    Bill

    ReplyDelete
  172. Turd, why do you only allow one or two short paragraphs to be posted at a time?

    I'm not posting any further until you can give me more space. I don't want to be posting five times to communicate something.

    SE

    ReplyDelete
  173. Speaking of bars, I see all sorts of resistance to paying 4k for an Engelhard 100. Several $3850-3950 type prices of late. With spot moving up as fast as it is, there may be an arb situation there, basically moving in for eBay offer with no premium (or tiny one) on a credit card purchase (via PayPal on eBay win). Just an idea...particularly if you get 1% back from that Chase card :)

    ReplyDelete
  174. Justin:
    You know what they "A Turd In The Hand Is Worth Two In Bush"

    ReplyDelete
  175. I can't believe I'm writing this, but I can't wait for the GB show on Friday... thanks for the heads up!

    Obviously I'm not a fan (no disresect to those on this site who are)... Glenn is all about the money and the fame, IMHO. But, anyone shining a light on the criminal activities of The Fed cabal over the last 100 years gets my support... even GB (of course he'll add his anti Dem/Obama spin to keep the rabble happy, but it's a small price to pay for the mass exposure).

    I see the TSX Sprott Ag Trust (PHS.U) is taking a hit today... all the negative premium to NAV talk obviously has consequences (way to go KD... seems he was everywhere on this... must have been hit real hard on the Sprott Au second offering...lol).

    ReplyDelete
  176. @chin,
    I agree. I don't get the logic in those who claim they are waiting for a higher price before buying in to physical. I do that with miners, but only because of proven resistance points. I doubt anyone is seriously going back 31 years to look at resistance/support levels on physical ha ha!

    ReplyDelete
  177. Scottj88 said...
    SLW and HL are well into the +% right now, which is my sign if there is a raid coming or not (when they are disproportionately negative when other things are positive).

    Hopefully the market conditions start to set in... if we open at these levels on Monday (or high obviously), and our miners didn't go up a good deal, then I will be quite perplexed and even a bit worried :O

    ________________________________________________

    Scott -

    Looking at the last 20 min, should we be worried?

    ReplyDelete
  178. Shill

    since you already have a vast amount why not wait for a dip. If you buy here you would be buying into strength as silver is in the overbought zone. If gold is not yet then it is close. just my 2c but patience makes a good trader IMO

    ReplyDelete
  179. @zzz28
    That is true. I don't care how good a stock looks. Those kind of gains in so short a time are bound to see a correction eventually. If not, hey, more power to it. I like being optimistic every now and then, but I refuse to err on the side of greed.

    ReplyDelete
  180. Bill, I plan on buying some SAE and selling PSLV. trade 20%+ Premium for 10% seems prudent.

    ReplyDelete
  181. Shill,
    Bought physical gold and silver at $1426 and $36.20. I'm at Physical levels of comfort now, so won't buy unless we come back to the $1420's or $36's. I'm at peace with my plan, watching miners closely, if we hit 620 in the HUI over the next week or so, I'll be booking miner profits except my core and buying a correction.

    ReplyDelete
  182. Thank you Chin...I will sit back and enjoy the show like the rest. I was just curious as too what others do during a run up.

    Thank you for your input.

    Bill

    ReplyDelete
  183. @ any and all looking at 0% promotional rates on CC's to buy physical -- I agree it looks very tempting and may make sense BUT don't forget to check the fine print -- there is a processing fee attached to these transactions unless they are directly made from the card (4-5%). So balance transfers, using the paper checks they send in the promotions is a no-no in the sense that it is no longer interest-free.

    ReplyDelete
  184. @ Letey

    First let me say, that my observation regarding SLW and HL "leading" raids is only an observation.

    Second of all, these stocks will fluctuate, so looking at the 1% drop off of SLW from its highs may seem alarming to you, but really this is nothing...

    My observation holds true more along the lines of HL and SLW down -3-5% while a majority of other silver miners are having "banner days."

    --
    On a note from Bill Downey (I have a subscription from him where he sends daily updates):

    Going to today's session, the options expiration in metals ends on the 28th --- and if there is to be a pullback at all in the metals --- the most likely time for it to begin would be today.

    You can view his work at www.goldtrends.net

    If you email him, he gives a 1 month free subscription, and I often like reading his commentary :)

    -
    Scott

    ReplyDelete
  185. eBay is good but watch the selling fees. My son did an Arb ie "scalp" trade with some concert tickets and made $1k, total fees 15%.
    I am so proud of him, (he's getting his Masters in Math this Spring :)

    Pailin said...

    Speaking of bars

    ReplyDelete
  186. Justin - we have our money divided up rather oddly, but in my mad money account, which is all invested in metals, I spent my last few fiat dollars on Tinka - which I found through here. I sure hope you had more in it than I do! But seriously, if you are playing with money you really need, I would think about booking profits. That is a high risk venture for a nest egg.

    ReplyDelete
  187. Mike,
    I own a few Orko shares. Just a few days ago it was under $2 so a little profit taking is OK.

    ReplyDelete