Wednesday, March 2, 2011

Round Number Resistance

Our PMs had a fine day today. To think that they could rally so much yesterday and not only hang on but gain today is quite impressive. They both did seem to run out of steam as they approached the round numbers of 1440 and 35. Lets watch these levels closely if they are approached again overnight or tomorrow as a second failure at those levels may be enough to inspire an attack out of the EE.

IF some selling materializes...and I'm not saying it will...the silver chart looks to have a pretty well defined buying zone on it, first near 34.40 and then near 34. Take a look:
To me, that's pretty clear. Any dip down near or slightly below 34 would be a great point to BTFD.
In gold, the picture isn't quite as clear. We are, however, currently in a strong UPtrend. Should we encounter some selling. I'd be looking to buy under 1435 and then 1430.
Finally, to say I'm excited by crude would be heartless and unfair. Many in the Middle East are suffering and many average, everyday Americans are soon going to feel the squeeze of increased cost-push inflation. However, the crude chart yesterday did clearly suggest that a breakout move higher was coming. Lo and behold, looky here:
Anything can happen in crude going forward. The downside risk is high in the short term because the market would sell off significantly if The Colonel was ousted without destroying his country's infrastructure. The potential upside is enormous, however, as the entire region is on edge. Calls on futures or ETFs offer the biggest bang for your buck while limiting your risk to your initial purchase amount. If you can ethically handle the fact that you're hoping for death and destruction, it might be a very profitable trade.

As I publish this, the metals are giving back gains on the Globex so we'll see what the remainder of the afternoon holds. I'll be here watching with you and will update if necessary. TF

121 comments:

  1. Looks like Blythe could smell weakness and is trying to create fear at 35. Come to papa Blythey!

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  2. Did you see this? Pure market manipulation! This is outrageous!

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  3. since new thread I will repeat PZG is sitting on a goldmine and looking to sell by 2012 for 9-15 bucks a share. currently on border property with another mine CDE.N a 32 dollar stock. do your own due dilligence pzg price at 4 bucks

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  4. Strange article:

    http://money.cnn.com/2011/03/02/markets/thebuzz/index.htm?section=money_latest&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_latest+%28Latest+News%29

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  5. Also, repeat:

    For those on you interested in an up-and-coming royalty company in the SLW mold focused on gold (the CEO is the ex-CFO of SLW) you might check the Sandstorm Gold (SSL.V). Their assets are in politically stable countries (Canada, MX, and Brasil) with sub $500 gold royalty cost, going from 10K oz in early 2011 to 40K oz in 2012. I've owned the stock for 15 months. Good corporate presentation on their web site. Do your own DD.

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  6. What do you think about this recent conversation with my friend about the "raid" in comex?

    Friend:
    lol dude... someone is trying to mimic blythe
    to shake people out
    they're fucking it up though

    Me: how you know

    Friend: it just looks fake
    like a fake raid
    blythe's raids are fucking powerful
    she dominates dude
    1 minute down
    then stop
    5-6 minutes noise
    then less than 1 minute gap down
    with no stopping the down
    no way you get a higher high in there ever
    if we take out 1434
    then this can't be her

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  7. Clearly the latest approach... wipe out the active trading gains each day in the low volume after market.

    I guess day trading is the only defense.

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  8. >Then this can't be her.....
    Or the market has won ....

    Nice FUBM forming on the silver chart....

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  9. This may not be EE or Blythe, but they can sure get in right now to hammer the price in this weakness.

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  10. Don't any of you guys read news? The Fed's Beige Book was rosier about employment and gold and silver sold off on that news. Jeez, the tinfoil hats around here are getting out of control.

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  11. thanks mark will check it out. if silver breaks 34 does that mean it is in freefall mode after that? thanks TF i need an entry on btfd

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  12. govt numbers are all lies and jpm is the master fraudsters

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  13. Stopped by the local coin shop... they are out of silver eagles, says at least three weeks til they get more... last two times I've been in there there was a line....

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  14. "tinfoil hats"

    Ahh... the Pavlovian refrain of the truly brain f*cked. Up there with "conspiracy theory" in its sheer overuse by Blue Pill people the world over.

    myth, in Turd Town you're seen as the comic relief. Do keep it coming will ya, you'd hate to disappoint us.

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  15. Turd-

    Since the topic of this thread is oil, take a look at the 2 year for VDE. I took a new long position in this one on Friday with a 3% trailing stop

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  16. Sorry guys...I did this drop...and it may continue. I bought some SLW and GDXJ...took out BOTH the metals. I decided I'm in for good and no more trying to time it. Look what happens... Shit...this happens to me EVERY TIME!!!

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  17. @ewc58 - That was funny - nice one.

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  18. Nevermind...

    Here is the Blythe we all know...

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  19. hmm.. i posted a comment earlier and it disappeared... sorry if a double post. I was wondering if there were recommendations for stock or etfs to play oil if one can not buy futures.

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  20. Hey Myth...

    Personal attacks to boost an inflated ego... Charlie, is that you?

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  21. @ewc58: I'm very long silver and gold. In all fairness, I'm not one of the Pavlovian chimps who barks about Blythe Masters every time there is a drop in metals; particularly immediately following news that is likely to cause metals to sell off.

    Nice try though; you can go back to yapping about your junior miners now. :)

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  22. @SRV ES339: I don't have an inflated ego, but I prefer to look to the news to see if there is a specific reason for a sell-off in the market instead of blaming the liquidation on something(or someone in this case) who I'm not sure is even involved in any way.

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  23. Is it just me, or is there a material similarity between the silver price action on 2/24, 2/28 and today? Just the amplitude is different in each case, but the pattern and the timing are causing severe deja vu...

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  24. Blythe Ball-Snipping attack in the 2 wave down cycle.

    Great Panther looks like it could be outside reversal on the topside daily, not good but who knows?

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  25. Beige Book? Bullshit. The USDX is still sucking wind.

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  26. saw hou.to on tf rec site 321gold

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  27. @flaunt, looks like the USDX caught a bounce to me right when metals sold off. Not sure what you're looking at. http://www.bloomberg.com/apps/quote?ticker=DXY:IND

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  28. Waterfall effect on Silver doesn't do good for the silver miners. GPL got MUTALATED. I got out of all silver miners, and playing crude.

    I will buy accordingly if the dip presents and SILVER shows it's on its way of retracement. Maybe next week is a good buy?

    -Thanks again for the hard work and contribution here.

    -Kupo !

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  29. That was a natural sell-off -- not a raid.

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  30. myth - usdx is still well below 77

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  31. Looks like the EE decided to raid after all. The Pig Men must be feeling the heat.

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  32. Tales From The Front:

    I stopped by one of my coin shops to unload a small ziploc of sterling spoons that I mentioned earlier. The place was not crowded. they seemed to have ample supplies of generic silver and gold coins both in the case. I asked about Eagles and he said he had gone couple weeks without any in late January (see my comments from back then,) then he got a monster box in, and sold it real quick. Then went a few more weeks with no Eagles, BUT now in the last couple days he has bought about a monster box worth of Eagles from walk-in sellers off the street.

    This IS a turnaround from a couple weeks ago. Then it was all tight, tight, tight. This news is maybe not what you want to hear, not confirming everything else we see on the 'net, but there it is. Process it as you will. It's just one snapshot from one coin shop here in the land of the free and the home of the brave.

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  33. We used to get alot of momentum-reversal Terrible-Turd-Thursday days following Happy Tuesday. I wonder if this trend happens again tommorrow and we get alot of running for the exits.

    Great Panther reversal off highs on the daily chart is engulfing so I will wait before buying I think but thats only me. best, -R.

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  34. Just pressing the spring down to build tension for the smash through round number resistance. jd.

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  35. Gotta relate an email conversation I had with Mrs. Eric#1. She said she was going to stop at the bank and get some cash for a trip, and I said I just sold some spoons so I have cash. She said "You're selling spoons? Looking Good Billy Ray!" I replied (of course) "Feeling Good, Louis!"

    How 'bout that Panther, hey? Maybe I need to buy back again. :)

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  36. mythblasters--Have to disagree with you about what the Beige book -

    The Fed’s Beige Book came out, and surprise, surprise… Most districts saw continued slow growth and increasing concerns about inflation:

    "Manufacturers in many districts conveyed that they were passing through higher input costs to customers or planned to do so in the near future… Retailers in some districts mentioned they had implemented price increases or were anticipating such action in the next few months."

    However, no districts saw any signs of wage inflation. In fact, Dallas and Minneapolis noted layoffs in their districts .

    What that means is Bernanke is focused on employment and wage inflation. No wage inflation, means more money printing and the continued exacerbation of the current inflationary trends in headline inflation

    so the report is actually PMs positive ,not negative

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  37. This comment has been removed by the author.

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  38. look how week this push down is!

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  39. Look. This bullmarket is probably the biggest one we will ever see. Just ride it till the wheels come off? The miners are very volatile and they will continue to be so. You WILL fail at trying to time it. Pick a few that you like and stick with them until the fundamentals change.

    Jesse Livermore:

    For instance, I had been bullish from the very start of a bull market, and I had backed my opinion by buying stocks. An advance followed, as I had clearly foreseen. So far, all very well. But what else did I do? Why, I listened to the elder statesmen and curbed my youthful impetuousness. I made up my mind to be wise carefully, conservatively. Everybody knew that the way to do that was to take profits and buy back your stocks on reactions. And that is precisely what I did, or rather what I tried to do; for I often took profits and waited for a reaction that never came. And I saw my stock go kitting up ten points more and I sitting there with my four-point profit safe in my conservative pocket. They say you never go broke taking profits. No, you don’t. But neither do you grow rich taking a four-point profit in a bull market.

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  40. Biege book- hahaha, that was good for a laugh!
    Blythe book-for sure-margin calls for sure.
    Thanks Turd for the awesome blog!

    AC_Doctor

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  41. Say what you want but this is all-too-typical afternoon, globex raid. It comes in stages. Look at last Thursday for an example.
    I doubt we are done. I'd be looking for one more surge lower.
    The point of these raids is simply to trim price. Regardless of when the raid occurs, silver is now 0.50 lower. Mission accomplished.

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  42. Just doubled down at $34.35 go go go! :)

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  43. BTFDYFI

    Same old smash down into NFP.

    Funny thing is, there isnt any follow through anymore, buyers seem to show up at every support level.

    Interesting times, shades of end Jul - Oct 2010.

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  44. @flaunt: Did I say the USDX was above 77? Nope, but there was a bounce.

    @Robert: The Fed is trying to incite inflation as we all know. The important point from the Beige Book to the markets is that retailers are more comfortable passing along inflation because the market is more "healthy." I don't believe this shit either, trust me! But there is a reason the USDX saw a bounce and the major indices are up.

    This comment section has gone from somewhere where you could discuss to a witch hunt on anyone with a differing opinion who doesn't blame every downtick in PMs on Blythe Masters. It's kind of sad because it wasn't like that just last week!

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  45. C'mon, Blythe. Help a brother out!
    One more push down to 34, please.

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  46. Bang Bang Maxwell Silver Hammer
    Dr. Jim Willie posted this at 14:31 pm on March 2, 2011


    http://rss.goldtent.net/?p=235639

    AC_Doctor

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  47. This is a crime in progress. Let the Bitch Blythe trade in normal hours when the competition is fair and equal. I say close the freakin Globex unless another exchange is open at the same time.

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  48. Whoa... whoosh back up.

    Just when I had my dip shopping list ready to go.

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  49. @myth,

    Look to the news for your info?

    I got a link for you. I think you'll be more comfortable there and in better company.

    http://finance.yahoo.com/

    Leave us alone now, the grown ups are talking.

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  50. How do you guys setup your charts when looking at silver? As in what minute breakdown do you use? I noticed that last few mini-attempts to slam silver came in two very noticable 2 minute drops that are spaced at 15 minutes apart.

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  51. Seems that this is the only time of day left for Blythe to attack. The only time there are no other exchanges open. I think this is exactly why the Globex was created. Just another mechanism to suppress the price. After all, PM's are the only barometer to evaluate the entire global fiat fraud system. Isn't it? Have to watch those damned PM's 24/7 don't we? Lest the sheep wake up and realize they have been fleeced.

    Are there any other financial investment vehicles that trade 24/7? How about oil? Perhaps! I can think of no other. Even the Dollar has more hours closed to trading.

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  52. Monsieur Martel shoots...

    HE SCORES!

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  53. Myth - I said the USDX was still looking like a dog, which it was. You said you didn't know what I was looking at, so I told you. Still well under 77.

    Don't understand your reference to a witch hunt since that wasn't my intention at all. I just thought the idea of the "Beige Book" being a legit reason to dump PMs was kinda silly. If the interpretation was really that the U.S. economy is gearing up, then we would have seen a dollar rally. Just trying to have a discussion, but I haven't been participating much here the past few days so maybe something has changed.

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  54. Hindsight - When I feel like going crazy I look at the one minute charts. There you can clearly see the raids and the strong rallies upward. When I feel like getting a broader perspective, I look at Dan Norcini's 4 hour chart. It's a good one.

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  55. @Hej Och Ha,

    You're right that article i bizarre, it's pure disinformation!

    I don't think too many folks here (except Myth) are using MSM news sources any more for the very reason your link showed.

    Zero Hedge and Goldseek are 2 good portals for ALL your news needs.

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  56. Well, those of you who know how to play these dips and do so at a profit over the long term are to be congratulated and admired. I am too conservative and do not like risk. I buy and hold for the very long term. It would, however, be nice to learn a relatively risk free way to make money as some of you appear to be able to do. I just don't see it, yet. Only long term record keeping and a positive return over that time period would prove to me that it could be done with a substantial profit.

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  57. Yep, discussion is good - personal attacks on another's viewpoint are not - if there's a point you disagree with either ignore it, or if one MUST address it - no loaded words like "yapping about juniors" that sort of thing - very unhelpful.

    Love this blog - its wide range of topics really reflect where the action is - if it all gets split up there will be less buzz - I've benefitted from the range, I'm back into options - wouldn't have been without the discussions here

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  58. @bobsmith5 - I have core holdings that I am long on and have not sold, but I do take advantage of these dips and sell them at a profit in a few days.

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  59. People quote Jesse Livermore all the time. But didn't he stick a revolver in his mouth at the Sherry Netherlands hotel bathroom in NYC after he had traded away 95% of his fortune?

    True, he was amazing in amassing 100 million to begin with, but then giving back 95 mill was enough to do him in. And I think his style has helped to create many illusions among momentum traders in my opinion.

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  60. Question- If these are naked shorts from the Wicked Witch of The Morgue, will they show up in the OI?

    AC_Doctor

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  61. An attack on another's viewpoint is good as long as you present facts and reasoned logic to refute their point of view.

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  62. Come on! Blythe, is that the best you can do?!?
    You're killing me! I need 34!!
    Here kitty, kitty. Come to daddy!

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  63. How can you play the options cheaply without losing a lot of money? I mean less than $100 at risk at any one time? At least, until you have mastered the science.

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  64. I capitulated and bought some @ 34.50. If 34 comes I'll add more.

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  65. Thanks, flaunt. The first of the shots brought it down to 34.5 and the second to 34.25. 2 minute charts show just how quick 2500 per contract can be eliminated.

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  66. bobsmith5,

    an easy alternative to skipping the party is to simply create a second portfolio devoted to speculative miners. Scrape $2,500 together and put it to work betting on 2 or 3 of the fine horses you're hearing about here (after performing your own DD of course).

    There is no need to touch your core portfolio to play the Miner Game. This 2 track strategy enables one to get the best of both worlds. Come on in, the water is fine.

    Buona fortuna!

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  67. Marcel, I got that from the newsfeed in netdanias software. I like to read news from all the sources I can find even if it is pure disinformation. It helps me get a grasp of what is really going on if you know what I mean. Disinformation can be just as telling as information from zerohedge and other places that provide real news.

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  68. I'm with you turd.....come to papa you chknchit lil biatch......34..34..34..maybe tomorrow

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  69. I have a substantial core too in physical and a small percentage in stocks. I have had this core for ten years and the stocks for five. I just left them sitting have not traded in or out. I have done very well that way. But, I would consider trading if someone could come up with a genuine profit making system to play this roller coaster.

    Yes, a nice FUBM forming. I do hope the Turd was able to take advantage of it. Our Kliguy got it right, congratulations. Hope this dip was good enough for you to buy back in.

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  70. Well that was a pretty pathetic beatdown. How we supposed to BTFD, when we can't even get a decent D anymore?

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  71. pslv still looks very strong

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  72. I may trade out of some of my dogs into some of the good recommendations given here. But, I know there is a big seasonal dip coming in June. I will buy at that time but try to sell the dogs at or near the peak. This is a fantastic place to stay in tune on a daily basis. The best informed people in the world are right here. Thanks a bunch !!!

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  73. I think we will get another chance tomorrow or Friday after the unemployment report. That will be a good time to buy going into next week.

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  74. I have rookie/newb question? what is Santa talking about when he uses CIGA ?

    I will probably feel realy dim when I get the answer.

    Thanks in advance

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  75. We've got Turd Ferguson and Kliguy. And what do they got? Just a BM.

    Everyone loves a great Turd, and it definitely helps having Darth Vader swinging the the Light Saber for the home team.

    Thanks again gentlemen.

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  76. I own Rye Patch mining (I saw it mentioned on the previous thread). I am happy to own it. Up 13% today. :)

    And Great Panther has regained more than half it's losses from today.

    These dips are being bought at lightning speed. I am a buy-and-hold kind of guy in this market. I didn't sell anything during the January dip and right now my portfolio is up 20% YTD. Not bad for the first two months of the year!

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  77. Could it just be that the Blythe Bitch is losing her power to trash the PM's? Maybe she will have to wait until all the traders go on vacation for the summer too?

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  78. CIGA: Comrade In Golden Arms

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  79. thanks ewc58. I would not have figured that out.

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  80. Made my first rookie mistake today! Was btfd all the way down, felt like nobody else was fighting back and capitulated right at the friggin bottom. Still booked a few hundred, but I gotta start my pyramid all over again. Ouch.

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  81. Happy to help a fellow CIGA.

    Now, if you're an AGA...

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  82. rthaler71, if you have the skills to trade the dips in this bull market and do it with a bigger profit than just sitting tight would have given you, good for you. However, by reading the comments here I am under the impression that most people here will do way way better with the buy and hold approach. Not saying anything bad about anyone here, dont take it that way. I am just saying that most of the time the short term predictions by people here are WRONG. Everyone here seems to understand the fundamentals of PM:s, it would be sad to see people still fail to make money because they were chasing a few extra percent gains by chasing tops and bottoms.

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  83. For those that day trade this is what i do.On your one hour chart set up your rsi @2 when it goes down to 5-10 area look to buy and sell when it goes over 90 works for me

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  84. @bobsmith, you are better off paper trading if that is the amount you are willing to risk until you get a feel for it. Alternatively you could stick with options on etf's or stocks. Plenty have options around $1 a little out of the money (example you could buy a March 46 strike on SLW for about $100). The problem with that is the bid/ask and cost to trade are going to eat you up.

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  85. ewc58 I guess I am a CISA working my way up to CIGA.. definitely not AGA. But work with a bunch of them ASSHATS.

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  86. Hope Alan Stanzcyk from Anglo Far East doesnt mind me posting this.
    Be Careful of Jumping on the North American Viewpoint Bandwagon
    In Terms of Physical Silver Supply

    By Alex Stanczyk

    The story about Silver being physically unavailable is reaching thunderous levels of rhetoric. Numerous analysts and commentators are crying, "There is no more physical Silver!!" Be careful about allowing your emotions to get the better of you in terms of your investment decisions. It has always been greed and fear that drives people to buy and sell anything. When there is much greed, it is likely that a particular investment may be due for a pullback. I am not suggesting that Silver is not a good investment. The long term fundamental facts of the Silver market are undeniable. I am saying that those who are invested in physical Silver (including me) will tend to want to believe the story that there is no physical Silver available for investment, because it means my investment will go well, and I was a smart investor after all.

    The thing to keep in mind is that these views are usually expressed by analysts and commentators in North America and are often based on limited information from a regional perspective versus a global one. The supply demand equation in Silver is in fact a global one, so to assume that North American supply and demand equals global supply and demand may be a big mistake. Can you find a single analyst from Europe saying there is no physical Silver available? Do you see Chinese investors complaining that they can't get any Silver? China's imports of Silver have skyrocketed year over year without a single peep about difficulty getting it. Please bear in mind that being loud does not equal being correct.

    The North American viewpoint is frequently accompanied by statistics drawn from COMEX and COMEX physical inventories. These stats are often used as the foundation of the viewpoint and proof that there is no physical Silver available to satisfy investor demand. The problem with taking this perspective is that COMEX settlements in physical Silver are a small fraction of the total global trade in physical Silver. Therefore, it's not a good indicator of global availability of physical Silver, because there isn't really incentive to maintain large stocks of physical for COMEX delivery. COMEX clearly states that settlement of futures can be done in cash versus the underlying physical asset. Do you really think COMEX is concerned about a physical default? According to their very own rules, they cannot default since they can settle in cash. This is the fact of the matter regardless of the importance that some analysts place on physical COMEX inventory. In the London Gold Pool of t he mid 60s, the demand for physical settlement grew so intense that planeloads of Gold were being airlifted to London to satisfy demand. The London market actually closed for several weeks at one point because the demand could not be met, yet Gold still traded in Switzerland during this time. This reflects the fact that anything will continue to trade if there is demand regardless if the trading is occurring on the "loudest" market. To assume that COMEX will ever be a true indicator of the actual physical trade in Silver may be a big mistake.

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  87. Much of the commentary I read continually points to sourcing through bullion banks and 'tightness' when doing so. I am surprised that no one has caught onto the point that the bullion banks have a good deal of potentially conflicting interest here. They participate in the paper markets to a great degree and are in some cases the largest short sellers in paper while at the same time custodians of metal for some of the reported largest physical holders. One thing that has always caught my attention is that I have yet to see a single firm that goes directly to the largest refineries in the world complaining about ability to access physical Silver. Yes, the bullion banks go directly to the refineries, but is it possible they stand to gain on the market activity associated with possible delays and claims that they can't get metal? If the Royal Canadian Mint says their bullion banks are having a hard time sourcing metal, is it possible those bullion banks have an interest in hav ing a hard time sourcing metal? Does it count if the retail outlets who source their small bars and rounds are all complaining about lack of product if it's due to fabrication limits in the North American market? Do the fabricators in North America also go through these same bullion banks? In a recent interview with David Franklin regarding Sprott's new physical Silver trust, he mentioned that a good portion of the Silver they had delivered came from overseas. Is this a coincidence, or does the tightness being reported have to do with regional availability or an incentive to profit by someone in the supply chain doing the delivering?

    This idea that there is no physical Silver for investment is actually similar in character to the argument that we cannot have a Gold standard because there is not enough Gold. To be frank, that is ridiculous. The view I take is that of course there is enough Gold. The problem is that most people cannot wrap their mind around what price per ounce Gold would have to be to achieve an actual Gold backing, because that price per ounce is so much higher than it is right now (think on the order of $6000+ per ounce if you are talking American Dollars). Point being, if you wanted to buy 5 million ounces of Silver from me at $40 per ounce, do not think for a moment that it could not be sourced in the wink of an eye (or at least within a reasonable time frame if the eye-winking doesn't actually conjure up the 5 million ounces).

    Perhaps someday we will indeed reach the point where there is no more physical Silver for investment because of such amazing demand over supply and the fact that as we use Silver in industrial applications, it is used up and not economical to recover. That day however, is not today.

    Kind regards,
    Alex Stanczyk

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  88. @ Hej och Hå:
    Good advice... and I am a buy and hold guy, but so much of the BS in PMs is so predictable and frustrating it's tempting to start some day-trading (I'm thinking of a small trading account to "dip a toe" and see what happens).

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  89. @BobSMith5

    RE: Learning to use options.
    I recommend Chris Rowe's online primer to cover the basics. He keeps the explanations simple. You can trade ETF and junior miner options for $100 or less for one contract. Look at the SLV calls and some mining stock calls with your trading platform. You'll get a feel for what's available. I am still doing SLV even though I said I was going to quit. The good thing about them is their is real high open interest and almost no spread (= good liquidity). The bad thing is that some day the trading world is going to decide the emperor has no clothes and everyone will run for the exits at once.

    Anyway, yes you can get your feet wet with small risk.

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  90. There is no shortage in silver at all. There are billions of ounces out there. Its just that it is being held off the market because the price is way way too low to sell at the phony suppressed current market values and people who have it know it.

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  91. Friends, here I go yapping about money makers again... There's a new interview with Chen Lin at James West's The Gold Report. Why do I trouble you with this? Only b/c Chen has been one of the hottest pickers of the past few years.

    Thanks to Chen I made a LOT of money on Alexco (AXU) last year. Of course I could also kill myself for NOT buying AUMN when he touted it at 6 and change! Along with missing GORO's huge move, AUMN was my worst miner miss of 2010.

    I got these picks free, from his segments on Jay Taylor's weekly show (Turning Hard Times Into Good Times, Tuesdays at 3 EST on Voice America). Link to the Chen Lin interview:

    http://www.theaureport.com/pub/na/8787

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  92. Here is some humor for you. While we wait for silver to go to $80. Hope theTurd don't mind. It is too funny.......
    https://picasaweb.google.com/lh/photo/jIU3qMN7YBMyvatkjwjtNQ?feat=directlink

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  93. SRV, I have been watching gold and silver for quite some time now, and just when I think I can predict the market, it changes, Therefore, I dont even try. Predicting that gold and silver will be way higher in the future is a nobrainer and cant really fail. But I wish you good luck, and if you succeed, please let me in on how you do it :)

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  94. oldNavy, how ya been Skipper? Wondering where you've been, nice to see your post.

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  95. An old saying Bux: A lie travels around the world before the truth puts its shoes on. The lie is that silver is plentiful and therefore the paper price is appropriate... if you believe that Bux that fine. The evidence is mounting otherwise and has taken a while to come to the "surface". I am more inclined to invest in silver being scarce.

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  96. @ Buxmaster
    -
    Thank you for that great resource,

    I will be very mindful to keep this in perspective, as I probably have been a little to over exaggerated in a world perspective. I think people have a tendency (me included) to jump on these things because its at the heart of a deeper issue, the fraudulent controlling banking system.

    When people cry "no more physical silver," including me, it is almost like a big giant <^> to the banking establishment, as they have been purposefully manipulating sound currency to keep the fiat ponzi scheme running. There are a lot of people that understand what is going on (even without all the details), and this is an individual's means of shouting at the treasonous bankers.

    Our system robs us at the root (The Federal Reserve...), and America is finding out. We may be spreading false propaganda in relation to the world (900 million oz of silver produced I believe?), but the supply and demand equation in the reserve currency home country is tipping. America produces roughly ~40 million oz of silver a year (That is just under 5% of world production). What happens if America, the land of the currency reserve, no longer wants the paper and demands the metal...

    I think that would quickly send the world into a silver hoarding mode...

    As this is really all about the US Dollar Collapse... plain and simple...
    -
    My 2 cents, but fantastic article!
    -
    Scott

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  97. @ewc58

    Thanks, Chief. My wife pointed out I was starting to obsess over this board and sent me outside to play! :)

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  98. Skip, my wife tries the same with me but I sneak back in through the storm cellar door... Ok, don't tell anyone..

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  99. Hey, what's up with TRE? I have an APR call on them that's starting to worry me a little bit.

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  100. Perhaps the orchestrated action today was to paint a doji candle at the top of the daily chart--almost a perfect one as of 4:30. Perhaps these EE artists are planning a more substantial attack tomorrow to make it look like a top?

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  101. oldNavy,
    perhaps TRE is just going to run flat until after their earnings call Thursday afternoon. Nobody anxious to jump in just yet, but nobody wants to drop out. I got out. Several of their last few earnings report moved the stock up to 4$ within a few days one way or the other.

    word verification: phiat

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  102. Silver is only in short supply because the people that want it at the current price can't find or buy it, because the people that have it do not want to sell it at the price offered. Its really that simple. More people want silver than there are those will offer to sell it at the present prices. When the price goes to its true value, then there will be plenty of people willing to sell to those that want to buy it .

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  103. ewc58 wrote:
    ...an easy alternative to skipping the party is to simply create a second portfolio devoted to speculative miners. Scrape $2,500 together and put it to work betting on 2 or 3...

    What ewc58 describes above was exactly the first baby step into short-term trading I took earlier this week; also, for what it's worth, it was a recommendation from a paid silver advisory service I subscribe to — I was really surprised the guy recommended a trade like that, as he's traded futures and options for years, but he indicated he thought things were so crazy right now that even he didn't feel completely comfortable being in those arenas at the moment.

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  104. Remember, the price suppression over the last fifty years has caused the price of silver to be too low for too long causing it to be consumed at a much faster rate than otherwise would have occurred in an unsuppressed free and fair market.

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  105. I will admit I sort of took my eye off this one and now we're only six weeks from the call expiration and the stock has traded down somewhat and my call really tanked today. Trying to decide if the odds favor hanging on 'til April. Guess we'll see what comes out on Thursday. $4 one way would be great, the other way, not so much...

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  106. September 10th, 2001
    SILVER WAS FOUR DOLLARS AND SIXTEEN CENTS.

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  107. For GPL longs we should be very encouraged by today's pullback to $4 and subsequent retest. To this point the stock has been on a tear with no clear area of support to carry the run up. We now have $4 established. This $4 level should hold as support unless we saw some massive sell off in silver.

    I blogged about this today if you want to see more detail http://www.mattjohnsontrading.com

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  108. ZH Retrospective:

    http://zerohedge.com./article/deep-walkthru-silver-manipulation-redux

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  109. @Hej

    I'm with you on that. I read material and sources that don't fit my construction of reality for perspective as well.

    Just agreeing with you that it was a whacky piece.

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  110. Matt,

    Thank you for your blog piece on today's Great Panther and Rye Patch. I own both of those. Too bad I sold SQI on Monday and used that to buy more Great Panther on Monday - but it's all good. :)

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  111. @bobsmith5

    I believe you are right on. Once we see $40/oz, lots of people will bring thier silver back into the coin shops and we will see the price slip a little, but it will only be temporary. Same thing when we hit $50 and $100. Its the strong hands that bring home the bacon. Sit tight! By the time I part with any of my physical, I believe the transaction will be measured in Chinese Yaun:)

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  112. HEJ- I agree with you. I buy and hold my bullion and use trading profits to buy it now. Also in a trading account always keep a good core position so when you do trade out you only trade out of a portion of your initial position, this way you collect a larger and larger core ideally. But this is not about price chasing momentum but rather about buying down into retraces and weakness. I would see gracelandupdates.com for more details but Stewart Thompson is a true mentor in this respect.

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  113. @reefman - I am sure you will be happy with your GPL investment!

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  114. Hej, I'm a long term holder but my main concern at this point is a downturn in the stock market bringing down the miners, especially juniors.

    May not happen - stocks could continue rising forever. May happen - one could do nothing & continue adding mores shares with cash available.

    Currently, only watching and in particular, oil prices. What are the odds we see $150 oil and the stock market remaining at current or higher levels?

    That's the question no?

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  115. @Buxmember:

    Are you familiar with Mr. Harvey Organ's visit to Scotia Moccata's bullion vault?

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  116. First let me say I have no clue what is happening, but my tea leaf reading is making me think today is a good EE attack day. It is a good time to push the weak hands out and we haven't had an attack in awhile. Besides Blythe/Fed isn't paying through the nose to have this get out of control just because the chart looks good.
    Unless some really bad news breaks I think we take a breather and reload. Not sure, just guessing

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  117. The manipulation of the metals market is a rigged game by some of the most wealthy and powerful entities in the world. Turd is one of the very very few who understand this game. Success in these markets depends upon understanding those fundamentals. All the technicals in the world are useless when the fundamentals are rigged against the average player. The key here is to understand the rational, motives, and strategies of the criminals who are manipulating these markets. No other analyst does it better than " The Turd "

    Thank you again TF we love you.

    P.S. don't let the naysayers and doubters get to you, they just don't know any better.

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