Wednesday, March 30, 2011

That's More Like It

Somehow the charts to the right got turned upside-down. How unusual it is to see spikes UP in the 8:00 hour!!

Just a quick update this morning. The metals are rocking. The were strong overnight and then got kicked higher by the "disappointing" ADP jobs number. So, I guess QE3 is back on again? What a joke! Can't wait to hear LIESman, The Coug and The Shill discuss things on Friday morning. Should be good for quite a few laughs.

Gold just looks fantastic. Even while crude is flat to slightly lower, gold has blasted through some resistance at 1424 and is charging higher. So confident am I that this chart looks great, I encourage you to buy any dip this morning back toward 1425. We definitely look to be headed now back toward the highs of last week. What id Santa say? The third trip over 1444 was the last one? Well, get ready because here it comes.
Silver has a bit of a different look. The bowl-shaped nature of the correction (if we can call it that) suggests that a spike toward the 38+ area is coming. Once again, you can bet your batooty that Blythe and The Monkeys will be waiting there with nearly unlimited paper sell orders and they will desperately try to paint a double-top on the chart. Don't worry, we've been through this countless times before. Painting the chart hasn't worked for them yet and it won't work this time, either. The fundos will overwhelm them again. Personally, I'm going to wait for the double-top and the subsequent pullback to 37.50-60 before adding to positions.
That's it for now. I have lasts of:
1427.20 in gold and
37.59 in silver
It should be an interesting day. TF

p.s. I forgot to add this link a reader sent me. Its an interview of the CEO of EXK.
http://radio.goldseek.com/endeavoursilver/


10:50 EDT UPDATE:
The only reason I can find for the steep selloff is the crude inventory report.
These computer algo driven "markets" are enough to make you suicidal sometimes. Crude inventories fluctuate every week but this is clearly a reason to sell your gold. Now! What a joke.
As long as the metals remain tied to crude, they'll remain stuck in this rut. Fundos be damned. Apparently, all that matters is crude up, buy gold. Crude down, sell gold. Ridiculous.

236 comments:

  1. I am sure someone else had a comment after mine, but there it was - new thread comment above mine - Eric I steal back the title?

    But I was taking Stefan's bet so quick copy comment:

    Stefan - I'll take Friday the 8th for 200, Alex. (Hoping for the Daily Double)

    As Turd posted, gold got sickly, but if that was the morning attack, then the ammo might be running low.

    ReplyDelete
  2. Jobless claims tomorrow at 8:30 am ET. Blythe will get the figures beforehand.

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  3. xty

    Looks like I was a day late and a dollar short on the old thread again. Reply for you there.

    ReplyDelete
  4. http://www.youtube.com/watch?v=HNY8eYmzdH4

    The Witch's crew will cook up a brew.

    ReplyDelete
  5. I got the last comment, "a" rant a pissed me off.

    "a" if you still want to discuss go read the last thread. I don't watch TV. with my spare time I actually build things, what have you actually built?
    When did you get your engineering degree, I got mine in 1984.

    ReplyDelete
  6. Sounds pretty good xty! I'll mark it down

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  7. Went back and checked - Eric you are the master!

    And Paul - I defended you too - a is new and does not know the players, I think. I am constantly on the watch for these non-argument techniques:

    Marcel told me to think more and post less - not an argument.

    a accuses you of watching too much tv - not only ad hominem but he got the wrong homo! (And I checked - homo is the nominative of hominem, so I am not being ad hominem when I refer to you as homo, not that there is anything wrong with that - giving a nod to certain members of our community - and don't snicker when I say member.)

    Let's argue facts and ideas, not character folks. Nice big tent here. Except for trolls - they sleep under the bridge.

    ReplyDelete
  8. Been trying to add a picture to my name, but no success so far. Not exactly a computer whiz here. Any help out there?

    It looked to me like I successfully added on to my Gmail profile but it won't come through. Then when I post theres a thing that says add a profile picture but when I do that I just get an exclamation point that flashes forever and doesn't do anything.

    It's just a happy little viking thing that goes with my formerly used on ZH and now abandoned moniker of Eric The Red.

    Whatever...

    ReplyDelete
  9. The morning would have looked a lot brighter without the secondary by CEF.....

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  10. ver word Phopa

    faux pas??

    Have I said something bad? I apologize in advance. Never argue with the Word Ver God!

    ReplyDelete
  11. Eric - me too - and I gave up. I was using my google account, but same story - flashing exclamation mark. I wondered if the file was too big, etc. Obviously others have coped. Any detailed help most welcome. But I think I will post a picture of my dog - she is a real beauty and looks great in a hockey sweater.

    ReplyDelete
  12. Eric #1

    All hail Wotan!

    How are things shaping up for 4/18 mate? Are ya gonna be ready?

    ReplyDelete
  13. Stefan - I was tempted to take tomorrow, but instead actually had a quick peek at the longer charts and tried to tame my incessant Bull.

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  14. Thank god (small g) I sold my CEF just before the close on Friday! Bet your Bippy I buy it back cheaper tho!

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  15. Here we go again looks like. But I often speak too soon.

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  16. Eric#1...I'm going to call CEF this AM and get the story directly. Will report!!!
    Wondering when that offering will be.

    I trust that is when you'll be buying back??


    Rats...have to try again...I keep getting this rejection with my credentials over the last few days...

    ReplyDelete
  17. Xty, I know what you mean...if you're call is correct that will be some Friday...new 30 year high to close the week and going strong into the weekend!

    Here's to hoping it comes true

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  18. ewc58

    Where you been buddy? Not many posts lately.

    I'm totally slacking in the mornings, cranking hard later in the day. Can't get away from Turd Town. I blame you all. Every single year it's always something. Somewhere in the last week of March, first week of April I absolutely panic and think that all is lost, we'll never get this all done, blah, blah, blah!!. My wife just rolls her eyes now, she's seen this crap for 30 friggn years. Every night I come home she says "are we panicking yet?" Actually, yes I am. thank you very much..... And by the way, can you start a load of undies for me?

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  19. Mr. Turd,

    I believe the statement was the third *close* over 1444 would mark the end of the world. That could be an important distinction as we may see-saw across 1444 several times before closing above it.

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  20. insight

    Combine a collapse in the premium with a nice looking buy spot with the silver chart and I'm back in. All the way in...

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  21. ewc58

    Wotan ROcks!

    To all: You choose your god and I'll choose mine, and we'll all be happy and get wherever we are going! If anywhere, whatever! I like Valhalla, sounds like fun!

    ReplyDelete
  22. Turd: wow! that silver chart looks similar to a Golden Bowl

    do you 'see' it?

    ReplyDelete
  23. If whatever's next doesn't kick ass, then what's the point?

    ReplyDelete
  24. Eric, Xty,

    Thought I would give that photo thing a try to see if it worked for me.. ..I think it did.. we'll see if it comes through here.

    All I did was click on my dashboard (top of the page, right) and then click the edit photo link from your dashboard. That gives you the link to browse/add your photo. Once you choose your photo, just click to add it and then I did get the exclamation point but that was only there while the photo was working on uploading. The upload did take a few minutes so be patient.. The exclam.point went away after the photo was successfully uploaded. Maybe you clicked out of it too soon before the photo got finished uploading??

    Hope you like my photo. She's one of my hat/jewelry models for my online store. lol. :)

    ReplyDelete
  25. @Paul
    Interesting video. I wish you the best.
    @Eric and xty
    Do not try to post a picture with your comment. I think that I have spent more time watching the exclamation point thing than updating adobe. When you sign in, blog spot has a profile page where you can upload a picture. I am no expert, I found it accidentally after posting under my email for a couple of months. Hope this helps.

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  26. Second leg up in metals and miners beginning. enjoy.

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  27. 7Y auction at 1:PM EST so be prepared for pre-auction shenanigans.

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  28. @Paul Breed
    Cool video. Always appreciate your comments, a bit more so now.

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  29. Ginger

    Somehow, I knew you'd come up with a super hot photo! Just sayin....

    ReplyDelete
  30. Regarding cef, I started a position about 30 days ago and have added a couple of times, including a small amount on Monday. Needless to say, I was surprised by yesterday's announcement since the last secondary was less than a year ago. However, if I remember correctly from my initial research, the premium never compressed below 4% during the last secondary.

    Any longer term holder comments appreciated! jd.

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  31. Ginger

    Are you talking PC or Mac? I'm on a Mac.

    ReplyDelete
  32. we are withnesing something realy cool, thanks God I've got some dry powder ready for shooting

    ReplyDelete
  33. Oil is also getting hammered right now, lets see if it holds $104.

    http://www.futurespros.com/energies/crude-oil-streaming-chart

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  34. Eric#1...You have every right to choose as you stated at 7:16. Even God knows Love only has value if it is given freely.

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  35. Revett Minerals moving up big! Keep your eyes on it folks. You heard it from Scottj then me. =)

    Yukon

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  36. Silver did something else this morning besides having a nice early day run. Silver to Gold ratio just kissed 37.98:1 before moving back up again.

    CoinInfo

    I've only been in the silver game since October when it was 56:1. Not too shabby in such a short amount of time.

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  37. It doesnt cease to amaze me how the EE manage to smash down the PMs.. they dont even bother to hide it now.

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  38. Duke

    That's interesting on the CEF prem. I havn't tracked it myself, but I can tell you that GTU went from 8% down to dead flat zero, even a discount! and is still, what? 2 or 3 %.

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  39. Turd,

    Crude down today also so PMs seem extra bullish today no? EIAs just came out showing higher build on Crude than expected. Crude down a buck so it will be interesting to see how the rest of the day plays out. A strong PM close despite crude's down day should make the 31st all the more interesting.

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  40. Funny stuff. Blythe pulls the bids by 3-5 cents or so right at support in Silver and the whole thing elevators down. Same in Gold.

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  41. A .35c drop in a matter of seconds! There is something sexy about a woman who is relentless.

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  42. @Pablo
    Sinclair predicted financial armegeddon when gold closes over $1,444 three successive days, coupled with the EUR/USD closing over $1.405 on two successive days. A seperate statement of his was that the next trip through $1,444 would be the last.

    Blythe's anvil just hit both of our favourite PM's. Back under $1,420 and $37.40. Grrrrrrr!

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  43. Taking about Peru last night I was lamenting my recent purchase of Fortuna. Now this morning Fortuna is leading my entire list to the upside. Go Figure....

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  44. I'm on a mac too - tried to change photo inside Blogger thing - Safari quit and I had to restart - and look what happened to silver! Man, you cannot turn your back on it. I am sooooo glad I am not day trading. I know I miss out on profits, but I would have sure blown this one.

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  45. I think they want sub-37 for Q-end pretty bad.

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  46. That was one quick and ugly takedown that just occurred in both metals, yikes!

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  47. wow - there goes all of the overnights gains in about 40 seconds flat. :/ those charts are looking much nicer today though, so i remain encouraged.

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  48. I just made a bigger post that blogger ate. Damn you blogger!!! (Yes I know I can copy/paste... I forgot to damnit)

    So today's question is: Does the fact that CEF was able to get their hands on ~$300M of physical gold and silver bullion change your mind about the scarcity claims regarding silver and/or the claims regarding the holdings of the paper bullion funds?

    Yukon

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  49. Out to reality - but this is sure real too.

    9fao - but hard to keep a good metal down, and good to keep a hard metal ... I will stop ....

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  50. Well, the last 5 minutes proves sell stops are somewhat easier to blow through than buy stops...

    2800 SI contracts sold in 4 minutes - $0.33 drop.

    I suppose a FUBM would be too much to ask for just now...

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  51. Eric,
    LOL. ...You know I'm ALL ABOUT the fashion! (She says as she sits here in jeans/sloppy sweatshirt, hair not combed ..but teeth are brushed) Trust me.. you'd prefer the photo of my hat gal. lol.

    I'm definitely not Mac. PC for me..... ..So, I'm guessing it works differently for Mac users? ...Scratch all of my above 'help' ...and wait on a fellow Mac user. :]

    ReplyDelete
  52. Sorry xty!!

    (Thought I was helping) :[

    ;)

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  53. “When did you get your engineering degree, I got mine in 1984.”

    Let’s do without the Engineering p!ssing contest on here, okay? We have a goofy enough reputation without slinging mud at one another.

    Mammoth

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  54. This algo-linked bullshit "market" is really starting to annoy me.
    Crude drops 75 cents on excess supply fro this week and of course gold gets ripped for almost $10 because of it.
    Just fucking nonsense. No wonder all my hair is turning gray.

    ReplyDelete
  55. hehe

    "Patience is the state of endurance under difficult circumstances, which can mean persevering in the face of delay or provocation without acting on annoyance/anger in a negative way; or exhibiting forbearance when under strain, especially when faced with longer-term difficulties. Patience is the level of endurance one's character can take before negativity. It is also used to refer to the character trait of being steadfast. Antonyms include hastiness and impetuousness."

    From Wikipedia, the free encyclopedia

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  56. Here's the little bugger I'm trying to use, but I can't do it. For all the Turd Town regulars out there, that's me.

    It's a bright sunshiny day, and we are sailing forward!!!!!!!!!!!!!!!!!!!!!!!!!!!


    http://www.google.com/imgres?imgurl=http://www.tim-tim.com/public/images/drawings/large/2605_A_Viking.gif&imgrefurl=http://www.tim-tim.com/drawing/view/drawing_id/2605&usg=__Rnu03juuW4wu9tgQXIbA56swU_A=&h=456&w=568&sz=118&hl=en&start=156&zoom=1&tbnid=ewiBfn08c0D1CM:&tbnh=141&tbnw=176&ei=RECTTciYCrC10QGyxITNBw&prev=/images%3Fq%3Dviking%2Bpictures%26hl%3Den%26client%3Dsafari%26sa%3DX%26rls%3Den%26biw%3D1237%26bih%3D636%26tbs%3Disch:10%2C3988&itbs=1&iact=rc&dur=772&oei=N0CTTa3pEpTUgQey2q0a&page=9&ndsp=18&ved=1t:429,r:6,s:156&tx=82&ty=70&biw=1237&bih=636

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  57. Cartel is still in charge of gold. See 10:25 $10 dump in 10 minutes for proof.

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  58. In seven years of trading precious metals, I have never witnessed so many daily reversals. It's really mindboggling. The normal trend for the day is set before the 9:30 opening. If it's up, it stays up. Or down. But in the last month, I have never seen so many up days reversed. It's not typical trading by any means. I'd usually buy the dips --and buy them hard-- but I've been finding that these reversals fail to give way to strong rallies. If gold rises ten bucks, reverses down five, the rally barely registers on the miners. In other words, the damage is done for the day. And that, of course, affects the next day and the whole freaking week.

    This is very strange action indeed.

    SK

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  59. i bought exk yesterday sold in premarket today and i have 2 say 1 thing i notice last few days exk really is following silver price up and down but what puzzles me is the buy sell, weird. i see silver dropping a lil and sure enough exk dropping

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  60. Hi there, long time lurker, 1st time poster, 14.30 gmt (10 mins ago) was the weekly DoE oil stock release, I don't know what it was but oil sold off on the news and took gold and therefore silver down with it I'm guessing

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  61. @Turd...it's not algos, it's the Fed and their henchmen.

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  62. Maybe this hints at what "caused the crude selloff"

    Just released 10 mins ago:
    http://biz.yahoo.com/c/e.html

    Crude Inventories: 2.945 Million
    Previous Inventories: 2.131 Million

    Not sure how to interpret this, but someone else care to comment? Looks like some favorable numbers released at a good time (expected and planned?)
    -
    Scott

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  63. So Turd did we just put in a much better re entry point then? :)

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  64. I think we may just see a equal and opposite spike up but not as rapid as the one that just happened.

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  65. 36.80 would be painful to see, please hold 37.20

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  66. Yukon - Been wanting to get in to Revett, but the foreign transaction fees my broker wants to charge are way too high (and I don't want to switch brokers just for this stock).

    Any word on when Revett will be listed on an American exchange? Their website says they've been approved, but has nothing about a timeline.

    ReplyDelete
  67. there were no bids there at 37.55-.53 and 1423 area at all, just gaps below 'support', it seems those are simply pulled by either BM or market makers and then the elevator drop gets done by panicked traders. Who knows? Chart has a completely painted quality to it.

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  68. lol, just saw Turd posting exactly what happened, sorry Turd, that'lll learn me to hit refresh next time!

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  69. http://www.bloomberg.com/news/2011-03-30/obama-planning-incentives-to-spur-u-s-oil-gas-production.html

    El Presidente is proposing incentives to spur domestic Oil and Gas production. Any recommendations for how to play this news?

    EA's MVW play???

    Much Obliged to the Turd Bowl!

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  70. As soon as the Great And Powerful Turd gets that new site up and running, the whole picture thing will be moot! Just guessing...

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  71. Heh, just when you think the EE didn't turn up for work ...

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  72. Turd...you have silver hair growing. So do I.
    Think silver hair and it's a bit easier to handle.

    The velocity and speed of the reversals are unreal. I do think a slow spike up is about to happen.

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  73. @ TYF

    You should check out the stockhouse boards on Revett, some good posts going on there.

    This may help you:

    http://www.stockhouse.com/Bullboards/MessageDetail.aspx?p=0&m=29487269&l=0&r=0&s=rvm&t=list

    TORONTO (miningweekly.com) – TSX-listed Revett Minerals hopes to list its shares on the NYSE Amex in the coming weeks, after receiving approval from the exchange, CEO John Shanahan said on Thursday.

    There are still some processes that need to be cleared for the listing.

    Revett produces silver and copper from the Troy mine in Montana, and has a larger project nearby, Rock Creek, that has been stalled by environmental challenges, but could see some progress if the final hurdles are cleared next year.

    Production from the Troy operation is forecast at about 1,3-million ounces of silver and 11-million pounds of copper this year.

    Shanahan said in an interview the company should benefit from being one of a limited number of US-based silver producers.
    He also noted that Vancouver-based Great Panther Resources, which completed an Amex listing in February, subsequently saw a sharp uptick in its market value.

    “And I think that's what it will do for us.”

    The company consolidated its shares on a one-for-five basis in the second half of last year, in preparation for the Amex listing.
    It also ended the year free of corporate debt, having completed a debt restructuring process that included converting the last $2-million owed to Trafigura AG into common shares.

    --
    Scott

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  74. Eric, I took an initial position in gtu (my first closed end fund) last year after the secondary without doing enough research and expecting to ride both rising pm prices and premium expansion. I ended up taking my profits slowly and frustratingly(somewhat illiquid) after 6 months and converted to physical gold. I recently began a position in phys - it and the cef I'm in for the longer run so my plan is to not get too exicted when these secondaries occur.

    I'm getting an overwhelming feeling that the ptb are diverting investment demand for gold into silver over the last few months - nothing wrong with that, but I'm hoping gold explodes soon. cef seems to be a great way to play the inevitable outcome with IRA's and 401Ks, if allowed. Of course, nothing beats physical and I love both almost equally. GLTA. jd.

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  75. FUBM. Statement or observation?

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  76. Yeah, check out the oil charts. I tend to agree this is more about oil. Crude inventories increasing would tend to suggest that potential shortages due to ME tensions are somewhat unfounded.

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  77. Turd: May I suggest that your new updaded website/blog include a "Characters" section where we can build a library of some of the characters involved in this tragic comedy along with their anointed names/description...you know where I'm going....

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  78. I dumped CEF friday afternoon, and GTU yesterday morning. Made a big picture decision that those two were going to be my In And Out trades and just leave my miners alone. Tinkering with the whole list of miners just has too much in trading costs and emotional costs. Got a list of miners that I like and decided JUST STOP FKING WITH IT!

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  79. No kidding, the Word Ver God said "fokma".

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  80. ZH Says: Surge in oil inventories means there is an oversupply in gold and silver

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  81. Turd don't be mad, the algorithms just created arbitrage for latecomers :). And my actuarial science teacher insisted there was no arbitrage in the markets, for it would be discovered. Apparently, he wasn't looking hard enough.

    That, and we have clear support now.

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  82. cef was getting overbought on charts looks like 20.7 is a possible low on cef short term

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  83. raged

    I sold it at 22.96. I'll buy it back all day long at 20.70. LOL

    Better to be lucky than good!

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  84. Yukon

    Fron the CEF statement;

    Proceeds WILL be used to purchase gold and silver.

    I am guessing they have not tried yet???

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  85. Word Ver: coperm

    Time to buy a copper stock? Lordy I need to stop now and get to work!!

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  86. Raged, that would indicate it would trade at a discount (assuming silver/gold prices static)- anything could happen, but I don't think it is likely. We will see. jd.

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  87. miles/yukon

    First they need to get the closing on the offering and get the cash. Then they'll go out into the marketplace to buy Au/Ag with the proceeds. Guess what they'll get the gold in a heartbeat but I'll be watching for updates on how long it takes to get that physical silver into the vault!

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  88. @paul Breed
    I seriously recognize your skill no doubt kudos, seriously. I'm just trying to pull the wool off everyones eyes. With your hands on skill and my practical knowledge we can make this world a really great place to live. once silver gets going I will be able to commision one of you engineer heads to build me an electric/combustion hybrid for $10,000. Don't give that first law of thermodynamics crap. I'm not looking for a free lunch, just a highly discounted one.

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  89. TF has an article on ZH. Good one, TF!

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  90. Silver

    Blythe can't stop it. She can only hope to contain it.

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  91. ..And we got to read it here first! ...Great article TF. You are a commodity on the rise in and of yourself.. ..and I never thought I'd say that to a Turd! :]

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  92. Okay, now it's blythe playing on weakness already obviously. Crude is back at $104 and silver and gold keep falling. Blythe is feasting on stops right now, and will go as low as the market lets her. I would doubt she gets past 36.40 and 1410 for those truly worried... lets see if she can get below 37 and 1415 first.
    -
    Scott

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  93. ...or maybe better stated... I should have said, 'In the great toilet bowl of commodities, Turd, you are on the rise!'

    HEhee. :D

    ReplyDelete
  94. My comment on ZH


    by Eric The Red
    on Wed, 03/30/2011 - 11:11
    #1116982

    Holy Crap,
    A Turd post was the only thing that could have made me log back in on ZH. And my picture thing still works, WoooooooHoooooooo!!!!!!!!!!

    edit reply flag as junk (0)

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  95. Counterpunching is the only way to go for me when dealing with a quicker opponent. I will not out fox the Algos or BM but I can certainly react once they have thrown the big right hand. At least the risk/reward is alot better. I think buying breakouts in this crazed Market is like lunging into punches. All the texts talk about buying breakouts, I must be the only one that tries not to do that. Who knows? Just surviving and riding the rodeo. Plus oil went on sale again this morning along with grain and corn so I think the glass is half full.

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  96. Whew! Both barrels hot from taking out those flying monkeys! I thought the cowardly lion had deserted us, but he brought back some more ammo! Well, here we go again!

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  97. right on scott - this is just adding insult to injury on the metals at this point. we've built up a good solid base at 37 now that 37.20's breached. ill take it as a positive day if we can close above that with this kind of nonsense.

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  98. I can't believe I even remembered my password.

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  99. ...or maybe even BETTER stated I should have said... 'In the great toilet bowl of commodities, Turd, you are definitely a floater, not a sinker.'

    rofl. ...Ok. I'm done. ...........and I'm leaving before all the hate mail. lol.

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  100. not to be skeptical conspiracy theorist but man one shenannagan after another on sliver manipulation, disinformation,comex hikes,now oil reserves latest ploy imo. jpm might be a little worried but I'm sure word from above no not god but the almighty CORPORATIONS are not too happy with paying more for commodities as this will surely cut into their profits,they didn't sellout america and move to china .30 cent an hour workforce for nothing!!!!

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  101. Crazy charts.

    Crude is recovering.

    USDX is falling fast.

    Gold and silver should be recovering as well. yet they are falling? What a joke.

    A few panic sellers perhaps? BTFD

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  102. I agree rthaler, the best entry point is right after a very obvious raid

    BTFR

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  103. Eric

    about the pic you want to post ... try copying it then paste it on your desktop ... then go back through the steps to download it to the blog from the desktop ... there could be confusion within the software trying to pull it from the website if that is what you are doing

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  104. Have those buy orders ready at 1400, 1380, 1355, 1325 and 1285. Manipulation is what it is. Just be ready to pounce, before we inevitably turn much higher.

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  105. Yippeee! Red light special on aisle XAG!

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  106. P.S - Thats 5 blatantly obvious raids in 6 days since we touched 38 and still only down $1

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  107. Alex, it's not crazy. EE waits for an excuse to go short - oil, MENA, employment numbers - then piles in, trying to shake out weak hands.

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  108. SSK

    I'm such a crappy short term trader that I find that throwing a few self imposed roadblocks in my way actually saves me money in the long run. ORD's don't mean squat anymore. The more I sit and do nothing, the smarter I look.

    ReplyDelete
  109. The Mighty Chin

    It's on my desktop already. No luck.

    ReplyDelete
  110. http://www.bloomberg.com/news/2011-03-29/gold-drops-for-a-fourth-day-on-signs-u-s-economic-recovery-strengthening.html

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  111. Does anyone know how long The Morgue typically holds a short contract on average in silver? Is it weeks...months? I know there is no definite way to know, just looking for educated guesses and insight. We could use a spell of covering here

    Thanks

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  112. Ginger

    "jeans/sloppy sweatshirt, hair not combed"

    Stop it you are getting me hot...

    Ok I'm really leaving now before I say something I'll really regret!

    ReplyDelete
  113. Crude now back at $104.5 ish.

    Blythe say FUTF.

    ReplyDelete
  114. The dollar today is looking rather ugly in my opinion. I feel like it could just drop back into the 75s and propel a massive FUBM for algorithms and smart money. Check out the 5 minute graph for 5 days on the dollar index:

    http://www.fxstreet.com/rates-charts/usdollar-index/

    It definitely does not look bullish.

    We should follow Turd's old numbers, 37.23 and 1420 both being cleared with swiftness and ease should confirm that nothing has actually changed and we just got delayed a bit. In the end, this may be a good thing as dips are good for the charts to make them look "more healthy."

    I like the chances given the conditions and the fact that nothing has changed since the big sell-off but a cheaper price. I wouldn't be surprised if some shorts were covered... and once it starts it wouldn't take much time to get back to where we were.

    I agree with mockra about a close over 37.23 and 1420 would make me happy for the day, and everything else would be gravy. I think I will be cooking some mashed potatoes tonight if I had to guess.

    ReplyDelete
  115. Scott

    Ok, wait, you lost me on the mashed potatoes!!

    ReplyDelete
  116. We haven't seen anything yet regarding price volatility until the Govt. shuts down.
    Sen. Schumer says the Dems plan is to let it shutdown and then blame the Repub.'s and Tea Party for the whole thing.

    Wow, what a plan! I feel so much better knowing that their plan is to do nothing and see what happens and then blame everyone else.
    Pretty sure Thomas Jefferson just threw up somewhere.

    ReplyDelete
  117. Look at the week as a whole. Gold is back to the same Crapola, but Silver is ever so much better.

    ReplyDelete
  118. Be very weary folks.

    http://www.nj.com/camden/index.ssf/2011/03/two_fedex_employees_charged_in.html

    ReplyDelete
  119. I said this at the end of last week, but it looks to me like the EE focus has changed from silver to gold. The movements have been stronger in gold lately, and silver seems to tag along. The EE has drawn the line in the sand at 1430. Silver can't be contained anymore, but they seem to be able to manipulate gold without much trouble.

    Again, the silver manipulation was always about gold, but the silver manipulation is failing, they are desperate, and they are now outright manipulating gold. Am I wrong?

    ReplyDelete
  120. Have been getting some good kidney shots in thru the morning, no upper cuts and no straight right hands but the counterpunching is good on the a.m. I even thought for a minute there I had Blythe in the corner hugging the ropes, then she came back with another down leg and tried to go with her always reliable knee to the groin. Lots of bobbing and weaving here. She threw some of her big stuff a little while ago, the Frazier left and even a couple of head butts. No matter, I can deal with it. Once she committs I can come off the ropes everytime and respond. Scary crap though and sometimes not alot of fun.

    ReplyDelete
  121. Correction: The downward movements have been stronger in gold. Silver seems to move up quicker, probably because so many are buying the dips?

    ReplyDelete
  122. @ scottj88

    Been following your posts for quite some time now.
    Would you consider picking up revett shares at this juncture?

    ReplyDelete
  123. Eric,
    I *think* you should ditch those tax returns and go pay Mrs. Eric a visit. LOL. ....just sayin...... :D :D

    At dropoff in school carpool this morning my teenager said to me and I quote: "You are embarrassing me.. fix your hair" LOL. I tell the truth. It really ain't purdy over here ...and again.. I'm just sayin.

    Tell the lovely Mrs. Eric I send my best. :]

    ReplyDelete
  124. Sumo, I agree completely. My point is that the news really had nothing to do with Silver/Gold and EE simply used this non-event to shake out some weak hands. I see this as a great time to buy and I think we will likely see a fairly quick retrace.

    ReplyDelete
  125. Turd, congrats on your elevation to Guest Post status on ZeroHedge. Well deserved!

    ReplyDelete
  126. PM hit this morning...

    At the risk of another personal attack from xtybacq (regards), I point out once more that we have $35B in bonds to auction off shortly... lets see, where would the cash shaken from the PM tree end up?

    Happens often (not always a take down like this) with high value auctions, in periods of lack luster interest.

    ReplyDelete
  127. xty,

    why drag old stuff onto a new thread? But since you did. . .

    my argument to you was PM investing good, profiting from someone's hunger and starvation bad. Simple enough terms for you?

    "post less and think more" was some well deserved advice for you, not an argument.

    BTW -You said earlier on the same topic, "But what use are you if you have nothing and cannot feed your kids?"

    You made my argument for me, but didn't realize it as you were rushing to make your next post.

    ReplyDelete
  128. Obamas oil import reduction comment was totally positive for crude it appears.
    Lets see what the PM's do from this point out today.

    ReplyDelete
  129. Scottj,

    Rivett is making me smile this a.m. ...Thank you for all of your continued thoughts/insights. Been holding this one since before the split last Fall and am happy to see it finally get some recognition. :]]]

    ReplyDelete
  130. I leave for the Gym... Silver at 37.57 I come home and its at 37 (now back to 37.10) It seems that one can't leave you guys alone for a minute...;-)

    ReplyDelete
  131. I got some info from the CEF.

    FIrst, you can get on their list to be notified of the offerings for CEF and GTU by email, which is at the bottom of the offering press release.....info@centralfund.com You can ATTN: to Bonnie

    This one was done overnight and closes April 6th. She wasn't sure if there was any allocation left as purchases were coming in. Those holding shares will benefit.

    Premiums won't be going down much....at 9% now.

    I asked about intraday NAV...computed:

    Using London fixes

    Ounces X Gold and Silver price + cash
    divided by outstanding shares

    I also asked about GTU...They do not know why the premiums have been hovering between 1-3%

    So, now what? Eric I saw your post...I guess it's just waiting for the dip again.

    I should have gotten in earlier when it was well below 9%!!

    *****

    Sorry for the delay in posting this....

    After multiple failed attempts as eblogger doesn't want to accept Wordpress these days...., I've created a blogger account ...talk about loyalty...to sign up for ANYTHING Google is well,,,,I hope you know how much I am addicted to Turd and the gange...

    ReplyDelete
  132. Mark

    I agree, they keep retreating on silver, but gold hits a frickin wall at 1430. To me, gold is the real deal, and I think it is the same to the Evil Entity as well. Evil Entity is my own moniker because we keep talking about how we really don't know who it is, what it is, etc. but it's out there buddy, it's malevolent, and it will cost you money. Kind of a poltergiest thing.

    http://www.pandaamerica.com/details.asp?item=6289&grp=1&categ=102

    ReplyDelete
  133. A war of words, not cool or civil.
    You know who you are.

    ReplyDelete
  134. @purplehaze
    yes, we need to get rid of all these market regulations so we can get some things done, I tried to by a quarter acre so I could make use of my cave man tech, and yes PAUL BREED I have built a house out of cob(mud) somthing your rockets could not put a dent in(4 foot thick walls 1/3 the strength of concrete) anyway everyone is in each others pockets you got to love the DEMONcrats and the RUPUKElicans their so funny;)

    ReplyDelete
  135. Ging

    We made a date to send each other our best tonight when I get home.......

    ReplyDelete
  136. Nobody trading ATM thinks this is the double top formation, right?

    ReplyDelete
  137. Interesting copper story at ftalphaville.

    Link

    ReplyDelete
  138. Ging

    Both our kids were conveived during tax season. Just sayin.....

    ReplyDelete
  139. Insight

    I'll probably just give it some time to figure out where this premium thing is going to settle, then Buy the Biggest Friggin Dip that I Can Find.

    ReplyDelete
  140. Blue Sky just trying to get logged on.

    ReplyDelete
  141. ScottJ,

    Many more days like today and I'll have to change my view on your thesis regarding RVM. UP over 5%, when Cu is DOWN 2%.

    Market starting to value the company for its Ag content? We shall see.

    ReplyDelete
  142. This post won't add any value to this thread (sorry), but it will convey a very distinct message.

    Dear TBTF:

    ......................./´./)
    ....................,/¯../
    .................../..../
    ............./´¯/'...'/´¯¯`¸
    ........../'/.../..../....../¨¯\
    ........('(...´...´.... ¯~/'...')
    .........\.................'...../
    ...........\.............. _.·´
    ............\..............(
    ..............\.............\
    ...............\..............\
    ................\..............\
    .................\...............\

    ReplyDelete
  143. Turd,

    EXK is your baby, I know, but how can you be so gung-ho in the NEAR term? Bradford Cooke (CEO) rather plainly states that this is a company that wants to buy new mines. They have, according to Mr. Cooke, only 98 million of cash on hand. EXK is going to need a whole lot more capital to acquire anything of real value. Where will the money come from? By selling more stock, of course. I get very scared any time a mining CEO talks acquisitions and then in the same breath touts his company's high stock price.
    Bottom line: They will acquire by dilution. And they will do this soon. Any day now, you will wake up with the takeover/acquisition news and EXK stock down a buck.

    I own quite a bit of EXK, so I have real skin in this game. I tell you what, though, I will be quick to take profits and weary of holding past 4:00 eastern time.

    SK

    ReplyDelete
  144. I can't help noticing that the correlation algos that supposedly hit Gold for $10 when Crude was falling have failed to work in the opposite direction now that Crude has pretty much recovered and is trading back where it was pre-report.

    Maybe someone should have a word with the programmers, as there is clearly a flaw in their code.

    Alternatively, maybe, just maybe, the whole "Crude Inventory Report Leads to Gold Crash" story is a load of Sh*t. I would like to propose this as a more accurate headline:

    "Slight fall in Oil price after Inventory Report provides Metals Shorts with a figleaf of cover to use as they smash prices lower to avoid a Quarter close over $38 and $1,430."

    ReplyDelete
  145. @Shill: Double Top? Where? On Ag? I don't see it.

    ReplyDelete
  146. Eric,

    Some people *really* know how to take the day off and get of work! :]
    ROFL. ...Now THAT was funny!! :D

    .....and just for you ...changed my photo to show the 'real' me. Enjoy. :]

    ReplyDelete
  147. @marcel martel
    I feel you, go and get Sally Fallon's book NOURISHING TRADITIONS for your kids. you'd be suprised at how cheap nourishing food can be. After crude hits $150-$200 everyone will be paying the same money for their boxed(coffin) cereal as I have been for my local grass fed beef. Crude will have little effect on my budget because 90% of my food comes from less then 30 miles away.

    ReplyDelete
  148. We need Obama to speak about oil everytime crude or PM's go south.
    Works like a charm from the looks of it.
    Maybe he will eventually have to talk about the gold/silver price (or a silver busted bank) at some point. That would be bullish for sure.

    ReplyDelete
  149. The FUBM's are almost as quick as the FUTF's these days

    ReplyDelete
  150. ERIC #1 PS...you said:

    Eric#1 said...

    insight

    Combine a collapse in the premium with a nice looking buy spot with the silver chart and I'm back in. All the way in...

    Then you said :

    Eric#1 said...

    I dumped CEF friday afternoon, and GTU yesterday morning. Made a big picture decision that those two were going to be my In And Out trades and just leave my miners alone. Tinkering with the whole list of miners just has too much in trading costs and emotional costs. Got a list of miners that I like and decided JUST STOP FKING WITH IT!
    ***

    Glad you mentioned the latter. I've been wondering what to do about not having SLV and GLD for trading...and you're doing it with CEF.
    I'm sick of trading the miners, in layers...I have some "core" but feel like holding some other lower buys I have.
    I think I'm going to establish some core in CEF and have some for trading.
    Makes sense and it makes me think my musings were not totally nut!

    ReplyDelete
  151. SSK

    98 frickin million?? Most of our crappy little miners will dilute thecrap out of us just to raise 5-10-20 million.

    i hate miners. i can' believe I own these stupid things. You'd think I learned my lesson back in nineteen ninety frickin eight!!! I was checking old posts from January because I know I had a post about how I really feel about these FKERs, but can't find it. All I can say for now is GOood Luck to allllllll because these bitchez will break your heart..

    Posted earlier about how I have my list and I'm leaving them alone. Truly believe that's the only way to play them. Keep tinkering with them and you just cost yourself money and keep feeding the beast!!!!

    ReplyDelete
  152. Third Largest Producer Of Silver Says Production Is Now "Totally Paralyzed" Following Week-Long Strike

    http://www.zerohedge.com/article/third-largest-producer-silver-says-production-now-totally-paralyzed-following-week-long-stri

    ReplyDelete
  153. @ Rhinestone

    Currently I see RVMID @ bid 5.44 and ask 5.45. Revett's 52 week intraday high is 5.44 (earnings report day), and 52 week close high is 5.16 (yesterday). So, it looks like it will either potentially breakout or consolidate back to near ~5.10. As for which is going to happen in the next few days, it is a fool's guess because there are a lot of factors that may influence this outcome.

    When you see Revett at $5.50 share price, understand that its extremely low 36.07 million fully diluted shares makes this look like an expensive stock. Stocks like Great Panther have 133 million fully diluted shares (and silvermex over 200million). If you were to split the shares to have 180 million share for revett, it would only be ~$1.08. But that price and the current price are equivalent, because it is the market capitalization that indicates how undervalued a company potentially is (share price multipled by # of outstanding shares).

    --
    Back to your topic since I wandered...

    Revett follows both silver and copper, but I suspect is entering a new price dynamic as investors are starting to learn about this stock. If we have a big raid or the equity markets suffer badly in the near term, Revett could potentially pullback. If we rally, I think we will be seeing new highs.

    Personally, anytime before its listing on the AMEX exchange will be "smart money" in my opinion, as I believe this stock will be treated kindly on its new listing.
    -
    I think I will be cooking mashed potatoes in regards to Revett by next Friday. Just saying.
    -
    Scott

    ReplyDelete
  154. Latest from Market Wire on the offering...

    TORONTO, ONTARIO -- (MARKET WIRE) -- 03/30/11 -- Central Fund of Canada Limited ( "Central Fund") (TSX: CEF.A)(TSX: CEF.U)(NYSE Amex: CEF) is pleased to announce that a syndicate of underwriters (the "Underwriters") led by CIBC have exercised their right to purchase an additional 1,800,000 Class A Shares at a price of U.S. $22.30 per Class A Share, for additional gross proceeds of approximately U.S. $40,000,000 to Central Fund . The Underwriters agreed earlier this morning to purchase 14,350,000 Class A Shares for gross proceeds of approximately U.S. $320,005,000 .
    The purchase price of U.S. $22.30 per Class A Share is non-dilutive and accretive for the existing Shareholders of Central Fund . The additional net proceeds have been committed to purchase gold and silver bullion for settlement at closing, in keeping with the asset allocation policies established by the Board of Directors of Central Fund . This offering is expected to assist in reducing the annual expense ratio in favour of the Shareholders of Central Fund .


    ** So, I guess anything below 22.30 is the best place to buy!!!!!!! Am I right on that?

    ReplyDelete
  155. Eric,

    BUY and HOLD ...it really is the only way to play the miners. especially the junioirs ...IMO! ...of course that goes with the caveat that as you find underperformers/losers you get rid of them. But with quality miners.. HOLD!

    ReplyDelete
  156. hot off the press at zerohedge something about strikes at 3rd largest silver producer san cristobol and paralyzed production. check it out

    ReplyDelete
  157. Ginger

    I like the old one better. But then I'm just a shallow man after all!

    ReplyDelete
  158. Some F**ker in Vancouver is going ka-ching ka-ching every time you trade a junior miner. Just sayin...

    ReplyDelete
  159. The Turd has been posted on ZeroHedge!!! \o/

    http://www.zerohedge.com/article/ag-commodities-and-coming-inflation

    ReplyDelete
  160. Eric,
    You hurt my feelings. The other one was plastic. Geez. Men are weird. Plastic???...over the real flesh and blood deal?????

    :D

    LOL.. ...just trying to interject a bit of humor into this otherwise the-world-as-we-know-it-is-about-to-end board.

    Eh.. ..back to my own efforts of 'perparing accordingly' over here. ...Thanks for the laughs. :]

    :]

    ReplyDelete
  161. TD picked up on this, too.
    http://www.zerohedge.com/article/build-oil-inventories-leads-plunge-gold

    ReplyDelete
  162. Oil breaking back through 105 shortly

    Must be the silver shortage story..

    ReplyDelete
  163. Crude's at $105.12...
    Guess the inventories aren't looking so hot...

    http://www.futurespros.com/energies/crude-oil-streaming-chart

    ReplyDelete
  164. raged,
    Thank you kind sir ..or madame.

    .....Some here don't appreciate me.

    "/

    ReplyDelete
  165. on zerohedge said silver should plung but if there is less supply and greater demand wouldn't silver go up

    ReplyDelete
  166. raged, I think ZH were writing with a dose of irony.

    ReplyDelete
  167. No not AG Equities.

    In the meantime China TV is reporting a massive shortage of gold for fabrication!

    http://www.gata.org/node/9755

    ReplyDelete
  168. Eric,

    I just had to LOL at myself when I thought about that last advice I gave you to 'Buy & Hold' quality miners. ...............................................Sure wish I had thought about that when I sold Impact.

    urrrg. lol.

    ReplyDelete
  169. So the 3rd largest silver producer was halted in its tracks? Sounds like good news for every other silver miner if my logic doesn't fail me.

    ReplyDelete
  170. Eric

    here is another suggestion to try ... go to google search page and at the top right corner will be a button to download google chrome ... google's browser ... after downloading there should be a icon on the desk top to open GC ... a message may appear stating that GC is not your default browser with an option to make it your default ... click no and don't ask again if available ... from the GC browser log into your blogger account and try again to upload the picture from the desk top ... I am guessing here but safari may have unresolved issues with blogspot that you are experiencing ... it won't hurt anything to have the additional browser on your computer and you can always remove it whenever you want ... going thru GC may side step the issues since google is owner of both ...

    things like this bother me, as small as they are, and I just keep at it ... a burden I carry :-0

    ReplyDelete
  171. Guys I too have been trading for the last 20 years...I have never seen such a battle in Pm's like this...amazing to witness yet exciting all at the same time.

    ReplyDelete
  172. Scottj,

    Do you have any new thoughts re: SLX? ...Just SO frustrating! ..Yes, it's up today.. ..but not nearly where it should be in my opinion. ..Any wandering thoughts about this play lately?..I'd be very interested to hear your take...

    ReplyDelete
  173. I think this is a cartel take down -- not algo selling. If there was algo selling, then there would be algo buying because crude is at its highs.

    This was a head fake where there was very low volume short covering before COMEX opened to make it look like a rally was on, and then the cartel dumped about 5000-10000 contracts on the market in ten minutes time.

    No big deal. The cartel just gave strong hands a buying opportunity. The weak hands just paid the cartel an opportunity to cover shorts.

    Wow, look at the dollar. Some shit is definitely going on today.

    ReplyDelete
  174. Thanks Insight! Appears the underwriters agreed to a price equivalent to a 7% premium to NAV vs the closing premium yesterday of 9% - I suspect there may be some other "incentives" for the underwriters however. We'll see what happens as they push this into the marketplace. If my experience with gtu last year is indicative of what happens to cef, the premium will trade beneath the premium paid by the underwriters - the real question is how much lower. I'm pretty happy so far today. jd.

    ReplyDelete
  175. TRE on the bearish list at yahoo community sentiment list.

    http://finance.yahoo.com/

    ReplyDelete
  176. It is funny to watch IMHO. I'm mostly long but there is really no downside to this market. I mean, you might just as well leverage everything you got into ETF's. You really can't lose.

    THERE'S JUST NO DOWNSIDE RISK, no matter what the news.

    The fall though will be Epic....

    ReplyDelete
  177. atlee, et al: anything on Cream Minerals?

    ReplyDelete
  178. Ginger,

    I think that since we know that SLX is under such heavy pressure from the shorts, I will be interested to see what happens to Silvermex once gold blows its top and moves confidently and decisively through 1445 towards 1500+.

    I feel that in this time we could see the short the miners trade start to get covered, as it will be very stupid to stand in the way of a freight train of smart investors and long hedge funds (you would imagine there have to be some out there that would want to get on the long side)... but we will have to see. This could happen sector wide, which could result in very large gains that would undoubtedly fuel themselves to larger gains... but this is just all a guess from me so I take it one day at a time. If the dynamics of the miners don't change after gold makes new highs (which I suspect they will as it is the true currency marker in the world currently), I will be re-evaluating my decisions. For now I am waiting to see if my hypothesis plays out or not.

    Silvermex does a terrible job at press releases as of late, but some suspect that they want to stay under the radar while they get their production fully up and running. They don't need to be worried about that stuff, they need to just show the results. From what I hear, their earnings report will be coming out soon, which will give more of an idea about their current production numbers and plan for 2011. I do not think the will have stellar income results yet, so it may be taken poorly depending on how its presented and what the numbers are.

    I feel that there is light at the end of the tunnel, but am always willing to change my view as it goes. In short, we need updates on the La Guitarra Mine before she gets moving, and this should come after the earnings report sometime... with silver $40+ :O
    -
    P.S.

    I like the pic, but your eyes kind of remind me of the taco bell dog :O

    ReplyDelete
  179. For any Turdites still not reading (or once again not reading) ZH:
    San Cristobal is the world's third-largest producer of silver and the sixth-largest producer of zinc -- production halted due to week-old strike.

    @Eric#1 - try uploading your avatar pic as something other than GIF. JPEG seems to have done the trick for me, but play around with other graphix formats in case that doesn't work. Blogspot seems not to like GIF

    ReplyDelete
  180. Ginger,pardon me,but this is the most esthetically pleasing picture you could come up with?
    I hope not.

    ReplyDelete
  181. Thoughts from a newbie futures trader...

    I sat there and watched silver drop from 37.60 to 37.00 on two huge takedowns about an hour ago. At 37.05 I figured it was time to hit the buy button with a 10 cent trailing stop. Why didn't I do it? FEAR. Just simply too paralyzed to move my finger over to the buy button and click it.

    "What if we stay in tight range for the rest of the day after the big drop" "What if another elevator drop hits in the next few minutes".

    What if...what if....

    So I didn't make the correct play even though my gut told me to buy.

    I guess the EE accomplished it's goal of instilling fear (at least in me,lol)

    Maybe after I gain a little more experience I'll learn how to click a mouse at the right time....

    ReplyDelete
  182. Hello -- Monkey Brigade covering the shorts created between 10:25 - 10:28 EDT?

    ReplyDelete
  183. a
    Passion is really important and its clear you are passionate about hydrogen as a fuel.
    Misdirected passion is actually destructive.
    The WIKI article is pretty good.
    In my mind this picture says it all.

    Science has numbers, ie joules of energy per l of volume etc...
    Statements like "have you see hydrogen explode, gas" doesn't do that. Nice mental image, but what you are really experiencing is the flame propagation velocity, not the energy. Fuels like gas or diesel are so much more energy dense than hydrogen that they can't explode in air. There is not enough free oxygen available in air to get the stored energy out quickly.
    If you add a high density oxidizzer like liquid oxygen you can get diesel to explode. The following video shows just that. (Realize that given the flow rates in this test this was approximately 1 cup of kerosene/diesel involved with the explosion.)

    Everyone else sorry for being off topic, "a", if you want to continue to debate this I've started a topic for this on my own blog and lets take the conversation out of here...
    unreasonablerocket.blogspot.com

    ReplyDelete
  184. Wow... It's going to take me all day to read the current posts... Lots of good info/discussion. I hope everyone just remembers to keep it civil. We are all in this big leaky boat together. And as my good friend in Jamaica says... "Respect."

    Just a few quick items:
    I've posted this before but I'll say it again - this is the BEST filter on the market for those on the go:
    http://www.bestfilters.com/misc/pocketfactsheet.pdf
    It will turn water from a hoof print into sweet nectar and BONUS!! it has silver in its filter!

    Speaking of bullish silver filters... these guys from Yemen are on to something here I think. Cheap potable water for the third world with... you guessed it SILVER filters! http://www.silverfilters.org

    And as a final item - Solar stoves are the shishnit: http://www.solarcooking.org/plans

    I noticed a lot of chatter about peanut oil/algae and such.. I'm trying to rack my brain because I saw an article on some kind of grass that beats them and corn hands down in terms of efficiency. Anyone familiar with that grass?

    Speaking of grass... hemp is awesome. Make clothes/fuel/rope whatever out of it and it's a weed so it grows like crazy. I even buy Hemp milk from my local Sprouts store. Yummy goodness.

    That is all.. now returning you to your regularly scheduled message chat.

    ReplyDelete
  185. Scott,
    Thank you for insights. I kind of thought that's where you'd come down on SLX ..but you are fast becoming one of my go-to guys for keeping my finger on the pulse of the miners.

    It is certainly where I am as well.. SLX is my largest junior miner holding and I see such potential there but like you... I'm always willing to go somewhere else with my $$ if this one starts to turn out badly. I do not think that will be necessary though. I think the rediculous shorts need to step aside and Ms. Fiona needs to get on about the business of releasing some press about the company and then we are skyward as silver prices advance.

    Thanks again. ......and LOL re: the photo. ..Well, you know....they do say that people usually start to look like their dogs! :D

    ReplyDelete
  186. Ginger - buyin and holdin the ones you like sounds like a great policy.

    I am not surprised that many miners are still flat or down today. Too much whiplash in spot price for them to react. If there is sustained strength through the rest of the week, the buyers will flow in and push them higher. If youre confident in the short term charts and overall trend you can still buy at good prices while the spot price is on the move.

    ReplyDelete
  187. Fred,

    That pang of horror and terror in your heart and in your gut is the buy signal...when you feel it, buy

    You'll get another shot real soon

    ReplyDelete
  188. @Fred -- I feel your pain. I DID pull the trigger on some options near the end of the day on 3/24 -- as is evident, I am still struggling to break even.
    One possibly helpful pointer -- EE takedowns seem to have distinct pattern (read Turd's exposes and some commenters for more details) -- spike down in 2-5 quick bursts -- quick breather sideways or up, then another leg down of almost identical size and duration. Until second one bottoms and starts to recover, don't get suckered in. Also, limit buys at/just below Turd's suggested support points may work.

    ReplyDelete
  189. The last silver strike at the San Cristobal mine was right before August 24th, 2010 when silver began to run from 18.50 to 30.00

    ReplyDelete