Thursday, March 24, 2011

Trying...

Perhaps we all need to watch this again, only this time think of gold instead of silver...
http://www.youtube.com/watch?v=LoVRV_xGEqc

Anyway, as I'm typing this, the metals just took a sharp hit. This needs to be monitored.


As we approach the close, watch the $1446 level in gold. See below:
And read the most current three posts from TraderDan, particularly the one about The Backward Asian:
http://www.traderdannorcini.blogspot.com/

More later, after the close.


1:15 EDT UPDATE:
About a half hour ago, something spooked the crude pit. Whether its actual news or just rumors or peace, love and nirvana, it was enough to prompt a quick selloff in crude.
Because the are suddenly conjoined like carnival freaks, gold sold off, too, and took silver with it. Note the almost i-frickin-dentical chart:
Now, here will be the interesting thing to watch. Anytime in the past, The Cartel would seize this opportunity of downward momentum to try to hammer the metals on the Globex. Let's watch and see what happens. Gold should find buyers exactly where it has been finding them, around 1436-37. Silver should find buyers near yesterday's close and overnight lows, around 37.20.

AND YOU MUST READ THIS:
http://traderdannorcini.blogspot.com/2011/03/silver-deliveries-information-march-now.html
OIL DROPPING $1.50 DOES NOT CHANGE THIS SITUATION!

More later. If trading, don't stray too far this afternoon. TF

1:30 EDT UPDATE:

As expected, Blythe has sent out the monkeys to try to capitalize on the weakness generated by the temporary selloff in crude. You know this because after crude had stabilized but gold was jammed down further.
If you're looking for a place to BTFD and slam the auger right back up Blythe's patooty, I'd shhot for $1430 in gold and $37.15-20 in silver.

180 comments:

  1. I'd say the 1:30 close number is very important to EE.

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  2. silver 37.50 area should hold

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  3. I guess she can't let gold close comex at all time highs.

    I don't blame her.. for now.

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  4. Natural profit taking I say...It's had a huge run, a breather here is bullish...I just sold my contract at 37.77.

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  5. I am wondering whether the EE is going to defend $38/oz. just as they defended $36/oz. not long ago. Gawd, these delaying tactics are tiresome and annoying.

    -- Paul D. Bain

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  6. Be careful here. This looks like it they're trying to reel it in.

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  7. Crude is now $1.10 off its highs. Don't be surprised to see more weakness into the close and after.

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  8. It looks like the EE has switched their concerns from Silver to Gold. Could this indicate intensifying problems for them? The silver suppression was always about gold anyways...

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  9. Is anyone growing tired of the bullshit action in the mining shares. Every little rally attempt is squashed like a little bug, gold/silver bug that is. Gold and silver coming off highs which is normal and mining shares mostly red! What BS!

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  10. Wow. This is beautiful to watch (in a sad way). Anybody BTFD roundabouts here? If so, you just got a 65 cent discount off today's XAG high.

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  11. HUI is also cliff diving.

    Glad I sold.

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  12. They sure are hitting it hard right now. Hope it stays over $37.

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  13. 60 cent drop in 15 minutes .... EE beat down has commenced .... let's see how far down the bleeding will go.

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  14. I will be watching SLW and HL close...

    If they end up way negative, big raid coming in for comex options expiration on monday? Looks like Blythe isn't ready to let gold go... not yet

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  15. a bounce back above 38 would be very bullish and a sign that the move upward had conviction and steam.

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  16. I have a new rule for myself: whenever I feel giddy and think moving forward, silver/gold are ready to rock out, I must take profits. In other words, whenever I get one of Jim Sinclair's "I'm about to make a shitload of money" itches, SELL SELL SELL.

    Otherwise you have major reversals and underwater buys from the opening.

    SK

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  17. Wow. I went away and did some stuff. And when I came back I checked my stocks and wondered why they were off - ugh.

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  18. Just a little prior to this raid EXK was in the red, think someone had advanced warnings! What a load of criminals!

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  19. Crude has been sold rather aggressively but I can't find a reason why. It has taken the PMs with it.
    I'd look for gold to find buyers near the bottom of the range we discussed this morning, near 1437.

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  20. great! FUBM will start forming today for sure sadly

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  21. Don't underestimate the strength of this momentum...wouldn't be surprised at all to see this rip back higher in the next hour or two...

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  22. I posted last on the old thread, again. One word - yikes. Word verification:

    sayingit

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  23. WILL THE PRICE DIP IN APRIL??

    Shill wrote:
    ==================================
    Question for the community, anyone buying physical at this level? or are you holding out for a dip?

    March 24, 2011 8:55 AM
    ==================================

    I am now waiting for a price dip, which I expect in early-to-mid-April. I now believe that Comex will not default at the end of this month, in part due to the recent subterfuge undertaken by JP Morgan. See, e.g., the article by Avery Goodman on SeekingAlpha.com, and some of the comments on Harvey Organ's blog.

    I suspect that, in April, we will see another "Turd's bottom" that will be similar to the bottom that we saw in late January and early February. As we all know by now, Turd's bottom is an excellent entry point.

    -- Paul D. Bain
    paulbain@pobox.com

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  24. if BM wants this to go down below 36, then she has a lot of work to do. on the other hand, if she takes it down $1, I can see others easily drafting on her and pulling silver down below 36

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  25. Gold is right back to its mud level.

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  26. EXK at $9.47.

    Wow. Just wow.

    Maybe next time a reporter asks Cooke if he has any pokers in the fire, he'll just smile and zip his lips.

    SK

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  27. PSLV is acting wonky again. ARGH! So hard to time this bugger when it moves AGAINST spot. Does anyone have the PSLV secret decoder ring?

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  28. No reason to panic. Just a great momentary buying opportunity. The opportunity will dissapear shortely.

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  29. GDP report tomorrow. Can't have gold and silver making things look bad... always happens the day prior!

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  30. Shill, PaulBain - I am pretty much happy with our current situation. Hanging in there in the paper markets, but with some physical too. Maybe some impulse buying but nothing major.

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  31. Oh well it was good to take some profits, maybe the asian market will pick it back up tonight and we will have another good buying opportunity tomorrow. Looking forward to it.

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  32. But I am not expecting much of a dip. I am just fairly all in.

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  33. Just bet the house on EXK at 9.48. Tight stop. Now may we proceed with the rape and pillage of JPM.

    SK

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  34. Turd, enjoy your feeding. Not that you've made me any $ yet ... but I do appreciate the thoughtful and insightful discussion!

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  35. LOL @ buying opportunity, silver is still up for the day, i would consider many $ dip a buying opportunity

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  36. haiku4U:

    the people that freak

    out on squiggles and EE

    attacks trade too much

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  37. never all-in ...never all-out....just various degrees of scared of being poor...that is the strategy that has paid off best.

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  38. The Avery Goodman thing is VERY disturbing .... can't somebody sue those mothers on a class action suit representing parties adversely disposed toward the Morgue's shenanigans? Those mothers need to be disciplined by having multiple law suits hung around their neck every time they try and pull off a fast one. If there is no counter pressure, they will be allowed to do as they please.

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  39. silverwood said...
    "Just a little prior to this raid EXK was in the red, think someone had advanced warnings! What a load of criminals!"

    There was a lot of downward pressure in Hecla too (the usual HF short target). This seems to be the canary in the silver mine before an EE raid.

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  40. I lied about leaving apparently. Glad I procrastinated to watch my gains today, noticed the silver sell-off and am now monitoring Tinka closely. It seems to not care too much about silvers decline right now, but it is reaching the top bollinger band on the chart I'm watching and MACD is thinking about crossing over. In front of the computer I will remain for now ha ha

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  41. C'mon! Let's see some FUBM into the close.

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  42. 15 minutes left on the COMEX buzzsaw.

    Anyone see TRE at 6.26. UGLY.

    SK

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  43. Looks like we -may- have a floor around 37.35.
    Whether it holds the next 15 mins is another thing :)

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  44. Nice table top, WTF? Not sure if I've ever seen a table top like that...spikes, but...seriously WTF? Can't be all BM. Did Benocchio open his mouth?

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  45. Viking wrote:
    ==================================
    haiku4U:

    the people that [sic; "who"] freak

    out on squiggles and EE

    attacks trade too much

    March 24, 2011 10:11 AM
    ==================================

    Yeah. Or perhaps they are simply unemployed (e.g., Justin) and have nothing better to do than watch the silver price all damned day long. Think about it. The unemployment rate is about 23% and still rising. I am sure that many unemployed Americans are trading -- they as sure as hell cannot work.

    -- Paul D. Bain
    paulbain@pobox.com

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  46. So.. there goes your buying opportunity, for everyone who missed the 34$ dip.

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  47. Paulbain

    "Turd's bottom is an excellent entry point"

    ROFLMA

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  48. Oh LOOK! Another beat down. Big FKN deal!

    It just screams they're getting their asses kicked and need to cheat alittle bit.

    Go ahead you dirty scumbags! Give us a chance to BTFD again!

    You Bastards have great short term power to kick us around. However.

    WE WILL NEVER! NEVER! NEVER! GIVE UP!!!!

    WE have the long term power!

    YOU BASTARDS!

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  49. Almost a buck off the highs...this may be a gift here boys...

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  50. It'll be back at 38 tomorrow probably.

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  51. I remember a time not too long ago when silver would move a dollar every few months at most. Now being up and down three or four bucks in a WEEK is par for the course. It's days like today that remind me why I stopped dicking around on futures and just stick with the options now...

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  52. CNBC loves Gold/Silver. Today. Ha!
    Contra indicator - SELLLLLLLLLLLLLLLLLL
    (just kidding)

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  53. Banking Cartel News Report:

    "Gold/Silver finishes down on weakness" (lets ignore what happened during the day and focus on the price at the same time of day each day).

    On a side note, the S&P is above 1306 currently. I remember reading somewhere that a close over 1306 confirms short-term upward trend? Looks like Bernanke wants everyone to buy the dip. We are getting close to pre-japan crisis (which is still occurring).

    This whole world seems manufactured...
    Oh that is right, it is.
    -
    Scott

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  54. "gabe said...
    the remnant around the world who want a new monetary system and frequent site like this and ZH and LewRockwell and Daily Bell are now more than 1 million. A good number of these 1 million are already millionaires. I'd venture that around 50% have net worths above $300,000. We have enough welath to topple the monetary regime."

    I'd venture that 50% around have net debt above 300,000$. Debt != wealth.

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  55. I will say, however, that 1440 in gold sure looks A LOT like 36 in silver.

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  56. Someone just got scalped in PSY.U (CA version of PSLV). ASK was at 12.86 and suddenly the last jumped to 13 from 12.78

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  57. @ Pailin - whenever I hear gold/silver talked about on CNBC on an upmove, hitting new highs... I tighten my stops on mining shares.

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  58. I'm waiting for you at $37.20 with a wad of benbux, Blyhe, come and get me bitch!

    Sorry for being off color but the Myth Blasters team seems to bring out the worst in everyone.

    Hey Mr. Turd,
    Can you please start referring to Crude Oil as Obscene Oil? Because these prices are :)

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  59. The rise of over $4 in under 6 days is extremely fast so a move like that was inevitable. I feel a lot more comfortable with silver at this level. My guess is we end today around 37.60.

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  60. HUI seems to be gathering back some momentum.

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  61. With the recent discussion about withdrawing money from retirement accounts to buy PMs, there is one important consideration nobody ever mentions.

    401K plans provide more protection from lawsuits than IRA accounts. It is very difficult to attach assets from a 401K, whereas a judge can determine that you have more than you "need" in your IRA and order you to cough up a possibly large portion of your IRA to the bastard that sued you.

    So just one more thing to factor in if it's a concern for you....

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  62. @ DC - you aint kiddin'!

    It's magic. The hand of the devil lifts and POS slides right back up again.
    Good for her, she got the headline she wanted.

    Somebody should send CFTC a screen shot of the 30min XAG chart for today, nice orderly upmoves all day, then...CRASH. Not that CFTC matters, just sayin'.

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  63. Yes indeed - 1440 is the golden 36.

    Hey lumpy - feeling grumpy? Good afternoon.

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  64. From now on more and more there will be tremendous volatility in gold and silver. I will just pyramid buys into dips, the news comes and spooks the Market into huge elevator drops, there is no real way for me to time it. Its like dodging bullets in the Matrix, unless your Neo, good luck. I will say 2 things. 1450 is a big round number so it is logical that there is a takedown on this print. Go back and look at virtually every new intraday high print by Gold. The hammer comes down right after. The question is for how long now will the selling last. And regarding TRE. It is a Jim Sinclair property. The cartel hate Sinclair. He is their mortal enemy and a turncoat besides having come from a bankster family. I think they are deliberately savaging this vehicle.

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  65. @paulbain,
    That is correct haha, I have limitless amounts of time to sit in front of the computer due to being in the aviation industry and that sector being complete shyte right now. 9/11 punched it and 2008 kicked it while it was down. I just happened to have left the Navy at the beginning of 2008 without realizing it was the beginning of the recession. Landed a contract job after that maintaining flight simulators(electronics) making 30% more than than the Navy paid me, but that contract was out-bid later by another company not too long ago with their own people to put in.

    I've had time in my idle days to take notice of the games TPTB play and it has helped to "wake me up" more than I already was. Figure if I can't beat them, might as well try to make money off of their shenanigans. Working out good so far, but due to the unemployment thing I'm not playing with as much of my cash as I would like to. It's tempting sometimes, but I'm not a complete tool ha ha :)

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  66. Look at the bright side:

    We have a much better idea of the surrounding support and resistance levels.

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  67. I like the late day raids ... I'm actually awake to take advantage of them :)

    I think we'll be range bound at $37-$38 for the next few days, although I've been wrong many times before.

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  68. this day is even better than yesterday.
    I also like pyramiding, it allways works

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  69. For the record, thats once above 1444.

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  70. Never would have thought that on the day silver and gold both set new highs that my biggest gainer on the day would be Ford.

    Or that my portfolio would reverse from green to red at almost the same number.

    SK

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  71. To "TheColoredSky" Thanks for the heads up on NC coin shops in a previous post. I will let you know how I get on.

    Anybody got any experience of bringing back silver into the UK? (20% VAT on silver - bend over and take it!!!). I know carrying 1000oz bars back may be a bit suspicious (especially if I collapse with back spasms heading to check-in). I've heard of taking coins through can be explained as "rare collectibles". not sure on quantity though.

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  72. @ Turd,
    Good eye on those updates. Watching closely.

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  73. I don't think Bylthe and The Morgue are all to blame because of this bullshit excuse of a selloff. I think this is all orchastrated from THE FED and Blythe, JPM and HSBC are just profiteers off this collaberation. The GDP report is coming out tomorrow and you can't have the dollar tanking and precious metals running amok while you are pumping your bullshit recovery!

    AC

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  74. Updates read. And appreciated.

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  75. I think the time is now, I will shoot

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  76. HOW MANY OF US ARE UNEMPLOYED??

    Justin wrote:
    ==================================
    @paulbain,

    That is correct haha, I have limitless amounts of time to sit in front of the computer due to being in the aviation industry and that sector being complete shyte right now. 9/11 punched it and 2008 kicked it while it was down. I just happened to have left the Navy at the beginning of 2008 without realizing it was the beginning of the recession. Landed a contract job after that maintaining flight simulators(electronics) making 30% more than than the Navy paid me, but that contract was out-bid later by another company not too long ago with their own people to put in.
    ==================================

    Uhm, Justin, I am unemployed, too. Indeed, I have been unemployed for 29 out of the last 33 months. I am NOT kidding. Gawd, I am seething with rage, too. I cannot believe that our government thinks that it is completely moral to maximize corporate profits by replacing Americans with cheap, immigrant labor, e.g., L-1 visa holders, H-1B visa holders, TN-1 visa holders, etc.

    Folks, illegal immigration is just one-half of the immigration problem. Legal immigration is just as damaging to our economy.


    -- Paul D. Bain
    paulbain@pobox.com

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  77. SLW high: 46
    SLW now: 43.81

    A whisker away from being stopped out on EXK.

    Lots of fun.

    SK

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  78. TF

    those frequent updates are much appreciated on crazy daze like this. Thx

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  79. Taking this opportunity to place an order for a 100oz Dildo with profits..this was the dip I was waiting for. FU Bylthe.

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  80. There is a heavy buyer (or buyers) hanging very tough at $37.23 on the MAY 11 comes. (Hanging tough so far, at least).

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  81. I like how silver is still up for the day yet SLW is down 2.5% :/

    I'm just kicking myself because I was planning to take some profits this morning all week then let it ride after gold broke 1444 lol.

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  82. Thank you for the pointing out the error xtybacq. Yes I did mean phs.u

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  83. Buy XAG @ 37.15 in. We'll see.
    Got a low of 37.208 from a few mins ago.

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  84. Yes, I think Turd is right in warning about the EE. A lot of people who have stops may get blown out of the water before the next big gold move ($1512?).

    Between GDP Results tomorrow (already manipulated so unless they decide to become more honest, I would continue to be heavily deceiving), comex option expiration on Monday, 3/28, and our recent run-without any sizeable pullback leads us to "a freaky friday" and manic monday... leading to "the best tuesday yet."

    If the past charts say anything, they say that a cyclical low for the nominal spot price coincides with the comex options expiration date. See Jesse's graphs for where I draw this conclusion...

    http://jessescrossroadscafe.blogspot.com/2011/02/gold-daily-and-silver-weekly-charts_22.html

    I really think that we are about to "blastoff" per-say, as I thought that we would be at $50 physical silver by sometime in April right before Turd's Bottom was called.

    The thing that will really make the miners/silver price skyrocket is market recognition of a physical shortage. I am hugely bullish for this reason, as I guarantee you it won't be "rational and orderly." These days are coming, even if comex doesn't default or SLV or GLD become exposed. These things will only strengthen the market's recognition of a physical shortage.

    If you are on margin, watchout. I am in cash and will be holding through whatever happens. You can't just go through through 1444 and move to 1500 the same day. You have to test the waters a couple times. I believe we have reached $1445 3/7/11, $1448 today, and on Tuesday I think we go through for the third time.

    Didn't Jim Sinclair say that the third time through 1444 will devastate the financial system?

    Good Luck All...
    -
    Scott

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  85. Silver Liberation Army, https://picasaweb.google.com/lh/photo/rQe95UOc23UERej9qKE9lA?feat=embedwebsite

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  86. Today's shenanigans are not entirely unexpected considering GDP will be out tomorrow and metal option expiry next week (Monday?). Moment like this is when EE gets out of the woodwork rigging it.

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  87. @ Turd Mentality

    Just called that guy in apex. He has some 90% and some silver eagles. Didn't say how many but there is $3 premium on the ASE's.

    Let me know if you find out anything around town, I'll keep checking with this guy every week. thecoloredsky@gmail.com

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  88. Scotj88 I believe the quote was that we need to close three times > 1444 before it blows up. Not just move through it intraday.

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  89. There is a new physical silver bullion ETF (similiar to Sprott) with the symbol of SIVR. The trustee is Bank of NY Mellon.

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  90. @ Pablo
    Thanks for the clarification, just found it:

    Financial Armageddon comes after the euro takes out $1.4050 twice and gold closes three times above $1444. We are close.
    - Jim Sinclair

    http://jsmineset.com/2011/03/16/in-the-news-today-809/

    ---

    Interesting times.

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  91. Scott -

    Sinclair said, "Financial Armageddon comes after the euro takes out $1.4050 twice and gold closes three times above $1444. We are close."

    Key word: CLOSE. Not touch or rise above and fall back below...

    Now, I'm not sure if that/he means several intra-day closes would count or a daily close. I'm thinking daily.

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  92. Gratitudo -

    SIVR has been around a while. I've owned it for many moons (still own it). It's done very well.

    Dunno going forward, but I'd be cautious at this point...

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  93. BTFD at 37.3, come on witch, make my day!

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  94. @ Larry....Thanks for the clarification. Yes agree its Daily Close above 1444.Euro has closed above 1.4050 since the 18th.

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  95. Man she is good. They picked the right man for the job.

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  96. thecoloredsky & Turd Mentality,
    I don't have any good coin shops to recommend as I have done all my physical buying online (Gainesville)..but.. I am right down the road from you Apex/Cary line. So we are neighbors and could maybe just 'know each other is there' in a shtf scenario.

    In those/these kinds of times, it helps to know that you are not alone and that we can all band together to help one another out.

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  97. hard to keep Silver down with Dow up 76
    much easier last week with the big scare

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  98. Blythe triggered my stink bid on Canadian Wolves :)

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  99. I would love to say we are going to snap back from here and hopefully we will. But, I think now she has stemed the rise and it is a prolonged fight back to 38. Be patient. Let the mkt come to your bid. Good job today Turd. (as always)

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  100. @ Letey

    This was the type of conditions I was referring to in my comment about HL and SLW (and maybe even EXK in this category). Heavy shorts to close the day on primary mining stocks. Another form of EE Manipulation. If SLW and HL finish lower than this, especially into the close... I would expect a raid tomorrow big time...

    Just my 2 cents.. let's hope they stall where they are.

    -
    Scott

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  101. Crude coming back.
    Silver hanging tough.
    Gold pushing toward new lows.
    DEFINITELY something f'd up about 1440.

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  102. The thing that irritates me the most is... ok the price of silver has fallen a bit, but as of right now it is still higher than it was at any time yesterday. It is UP on the day. But SLW -2%, EXK -4%, SSRI -1.5%, HL -1.3%.... only PAAS is up a little (and usually it's the underperformer). Price of silver is currently higher than its highest close in 30 years and I'm going to have a down day. My ratio if physical to miners is around 1 to 4. Perhaps it's time to rebalance that...

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  103. i bought exk today at 9.76 and again at 9.51 should i wait for tomorrow or take my beating today? does anyone think it might pop tomorrow

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  104. I need a shot of Afrum!! ;-)

    verif= cowpi appropriate for a BS post, dontcha think

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  105. Oh my gosh, it's crashing towards 37. Gawd, how I love to say that...having been all in for some years now. Turd, I've been following (with the very rare occasional post) since you first took up that suggestion made on Zero Hedge. What a grand place to read folks' (and your!) thoughts on PMs. Thanks. That said, I must miss 2/3rds of the posts because, frankly, I cannot follow all the commentators and their writing. So, thanks again.

    If anyone is interested in the Liberty Dollar fiasco (Bernard was found guilty in less than two hours) and wants to follow along still, there is a Facebook page set up for the appeal. And contributions are being solicited for the legal defense fund. Has anyone ever in all of history counterfeited paper money by using real gold and silver? It's almost an amusing question.

    P.S. There's another Michael here. I'm not him. ;-)

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  106. I'm thinking there must be some "wider agreement" among players about gold staying below $1444.

    For example, maybe some buying governments have agreed to lighten up for a time. Just like they all agreed to let Japan print a ton of fiat.

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  107. First time poster, but have been reading and enjoying the blog for a while.

    I don't own any physical (yet), but own shares in many silver and gold miners and oil producers. I was disappointed to see the UK increase taxes on oil production in the North Seas.

    http://www.telegraph.co.uk/finance/budget/8402612/Budget-2011-10bn-oil-industry-tax-grab-wipes-2bn-off-shares.html

    I hope that Canada and the U.S. won't make a similar grab on profits by miners.

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  108. Scisco - because it trades in the 17s not the 12s. What were you posting about?

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  109. JPM/HSBC must have an assload of derivitives written on the price of gold being under $1440.
    They lost the last round with $36 silver and I bet they will lose grasp of the $1440 gold sooner or later. AU back up to $36.63.

    AC

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  110. pforth - I own a different set of stocks, but am having a similar experience. Not happy.

    Scisco - are you part of that strange nav war?

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  111. getting silver back above 37.60 is the first step for forming a FUBM
    37.61 last

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  112. Dammit, can someone translate FUBM for me.

    AC

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  113. When your trading options the losses mount quick. Got no problem taking quick profits when things look sour, even slightly. We haven't had a solid raid like this one in a week , and this wouldn't be the first time a raid was started on the same day as a new high.

    If I have to buy in tomorrow 30 cents higher I could care less. I will buy back in and ride it till $40.

    It is way better to be a little cautious in this game, than overly optimistic. That attitude has already wiped me out once.

    Taking profit is an art.

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  114. Dammit, can someone translate FUBM for me.

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

    That would be Fuc* You Blyth M.

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  115. Fuck you Blythe Masters! :) For the A/C doctor, and for me.

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  116. AC,
    Here's the Turd Glossary:
    http://tfmetalsreport.blogspot.com/2010/12/turds-glossary.html

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  117. I'm glad I held onto everything including GPL bla bla. To tell the truth, I like the precious metals for themselves more than for the profits I've made and wouldn't shed a tear if gold fell to $10.00/ozt and silver to $.01 ozt because that would make taking it out of my IRAs a hell of a lot less painful.

    Since we've had some discussion about paying the penalties and taxes and just yanking them anyway (thanks to the Turdite who suggested pulling half, going physical, waiting a year while the physical appreciates then paying the penalties and taxes with the profit [if there is one which likely there will be] then the following year taking out the second half.]

    What time frame do people think we have? I have five more years to go before I can withdraw without the 10% penalty and if we can hold on without confiscation that long, I figure I can get away at least without paying that not insignificant amount. I've been rolling over some contributory $ to my Roth and there was a favorable tax treatment (at least for conversions made in 2010: no taxes due for 2010 and taxes due on only 1/2 on the 2011 and 2012 returns.) Of course the conversion starts the 5 year Roth clock ticking again.

    I'm certain that the vultures are going to eat our retirement accounts; I just want to get a feel if I have five more years to wait before the carrion eaters swoop in.

    Jai

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  118. http://www.mineweb.com/mineweb/view/mineweb/en/page33?oid=116272&sn=Detail

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  119. My wife just texted me to let me know that our Heck-of-a-job-Hank-Paulson medal, the one with the vulture feasting on the carcass of America, got delivered this morning :)

    http://catalog.usmint.gov/wcsstore/ConsumerDirect/images/catalog/en_US/778_popup.jpg

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  120. Spoke too soon. No FUBM today.
    Fucking EE Globex hammer just as predicted.
    Fucking criminal manipulative fucks.

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  121. well, went out for a bit to miss $37.20 but looks like may get the chance again.

    Martel, lol! I'd like a shot also :)

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  122. And to clarify, a FUBM is a rise after the fall, not the dip. The FUTF (F you turd furgueson) is the takedown.

    Regards,
    Icarus

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  123. Margin Change Coming:

    Funny how some always know in advance....

    http://www.cmegroup.com/tools-information/lookups/advisories/clearing/Chadv11-103.html

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  124. Seriously, wtf is going on? The battle between Good and Evil is intense! Not selling or buying anything else, waiting to see what tomorrow brings.

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  125. Looks like a push down in PMs to pound the miners before 4pm EST market close.

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  126. Turd this pattern feels like Presidents day weekend when we first breached 34 then had a good selloff back to 31.80 or so. Eerily familiar.

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  127. Turd, the fix is in until after tomorrow's
    GDP report-just like last Friday. All the big boy's and girl's know there are easy money to be made. Hell, they probably already know the f-ing results!

    AC

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  128. @PaulBain

    I was unemployed for 18 months until I got a temporary (4 1/2 month) gig doing taxes for Jackson Hewitt. I'll be going back to the last of my tier four on April 18. I have my house paid off so I buy silver libertades with half my salary now and when I was and will be getting unemployment. Now I'm also taking advantage of my "raise" to buy a year's supply of insulin ahead as well as having ordered a Berkey.

    It's not easy but we get by (or have so far.) BTW, my husband, Josh, is unemployed too. He just spends his money on crap.

    Best,


    Jai

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  129. AHHHHHHHHHHHHHHHHHHHH! This is pissing me off. I hope those fraudulant fucks get what's coming to them. They make Bernie Madoff look like a petty theif. Can we file a class action lawsuit against the CONex?

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  130. ewc58

    Are you out there, buddy? Haven't heard from you in days and days.

    Starting to worry. Going to send someone over to your house to make sure you haven't fallen and broken a hip.

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  131. Where's Afrum been anyway? Haven't heard from him in days.

    Aaaaafffrrruuuummmmmmm!!!!!!!

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  132. This has been a terrific short run off the Sendai/Nikkei lows in everything from the $AUD to $HUI, to the PMs. However, this shudder today in the PM complex is probably a preview of what's to come in the overall stock market. FWIW, I've been bullish on US stocks--on a cynical thesis--for 18 months. However, I do think it's finally time to watch stocks succumb to the same inflation that's now eating its way through the economy. Simply put, I think the hour to be short stocks/long gold has arrived (after only half working the past year+). These pullbacks are surprising in gold and silver but the only way to prepare for them is too start to hedge/dial back some after each 3-7 day advance. I look gold/silver to outperform the HUI (again) as we move into Spring. Hence, the straight shot and textbook hedge of long gold/short SPX.

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  133. Jai,

    Ahh, you're here on a site run by a guy named Turd. Maybe you're both getting crap? ;-)

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  134. It's really hard to believe that gold just sold off $20 just for the hell of it. Karma is a b*tch and one day they will get what is coming to them.

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  135. The dirty prick bankers knew in advance of the CME margin hike-BINGO-whack the big run on silver...

    http://www.zerohedge.com/article/and-clockwork-cme-hikes-silver-margins-halting-surge

    AC

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  136. Hanging on by a thread there

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  137. There are no markets......just interventions

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  138. That buyer is still sitting at $37.23 in the May Comex. Between this dip and the last, he's eaten up several hundred contracts so far. I've seen buyers like this eat many hundreds of Comex SI contracts. Not sure how long he'll hold out if oil and gold don't hold the flanks.

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  139. margin hike for silver. she knew before. bitch!

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  140. HOLY @#$& did 37.20 fail!!!!

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  141. We have all seen this BS before. It's nothing new of course. Keep stacking physical gold and silver my friends! We will be victorious!

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  142. MARGIN HIKE? Where is that information coming from? Can someone please post a verifying source if that is true?

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  143. Heel of a battle in HL between 9.10 and 9.12.

    Bought back in @ 9.20

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  144. picked a great day to load on 200k in silver shorts at the open. escalator up elevator down see ya at 33, i figured they would intervene somehow the way the metals were being bid. good luck all.

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  145. One of those rare FUBM last 30 minute rallies would be much appreciated right now.

    Maybe?

    Please.

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  146. Well, looky what we have here... gold and silver finally moving in lockstep. Trouble is, it's down the steps.

    Wonder what the EE set as their target lows in metals to provide cover for the Bernank tomorrow? All the while he's buying the Dow like it's 1999.

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  147. atlee, TF, great call. hanging out 'till the dust settles even if it means a higher entry point.

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  148. How the f*ck can they just intervene in the middle of a trading session? How is this sh*t legal? Why are we not outside with our pitchforks? WTF

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  149. BTFD my friends... This IS the last dip until the end of March/ealry April... Be thankful...

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  150. That was pretty blatant!

    word verification = cling

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  151. HECLA CEO on Fox Business right now.

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  152. shoot that bitch with silver bullets

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  153. Feeling pretty good about the fact that all my PMs are physical and tightly held in my own grubby little hands.

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  154. I am sure someone from the CME sent the wicked witch of the Morgue or one of her monkey captains an email/text, as soon as they sawinfo on the margin hike. F$ck the common guy, as JPM spares no prisoners in this war.

    AC

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  155. I sold all Apr call options as spot silver dropped through 37.5 - SLV, GLD, UCO, EXK. Two weeks ago, i took a 30% hit from my peak in 3 days last time a raid like this happened, and was almost back to my previous high. had to maintain some profit. I am thinking there will be 8-12 days of rangebound action between a top of 38 and lows at either 36.5 or 36.0, before the next run up to 39.5-42. I figure i buy in 60% at 36.6 and 100% at 36.1 - have to buy before the true bottom, otherwise i miss it like this last time waiting for 34...

    I remain long in NUGT, SLW, EXK, GPL, AGQ, UGL... Looking to build long term positions for capital gains protection. Moved my decaying TRE option into TRE stock at 6.27 today.

    I still have trouble deciding when to sell options. If I consistently could get out when I think I should, I'd probably be up 300% this year, but greed waiting for a higher high and stubborness expecting a rebound immediately after a raid has tortured me.

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  156. @Brad
    Remember... This is THEIR house we are playing in. Profit from this paper casino while you still can and don't forget to keep playing our own game, too. BUY PHYSICAL!!! RIGHT NOW!!! I'm heading out to my dealer today...

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  157. I hope they hog tie HL CEO Baker. I hope they ask him why the hell he waited to settle with the EPA during the most liberal administration since Jimmy Carter. I hope they ask him who's side he's on: the shorts or the shareholders.

    I did manage to let go another 2,000 shares of HL today. Just not anywhere near $9.50

    Awful stock, HL.

    SK

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  158. Jim Sinclair mentions that margin increases are bullish. (short term excuse to raid)

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  159. SSK,

    I'm sorry for your losses. The Fox Business segment was a fluff piece. Funny how the commentator doesn't really give PMs any respect; guess she's following the mainstream media talking points. No mention of the EPA judgement overhang.

    I really want to buy HL, just not seeing good enough news or a strategy for the EPA thing to invest yet.

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  160. Off topic, but does anyone watch any of the business news networks? They all seem to suck, but which one sucks less?

    I used to think FBN was decent, but both FBN and FNC are just drilling the "Reagan National Airport" incident into the ground. Isn't there better things to report on.

    There's seems to be no better accurate info that online (especially here and ZeroHedge). I guess I'll just have Bloomberg on the boob tube for background noise.

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  161. Chicken Dinner: "I'm long on xanax"

    Ha! After today I'd say most are running short and need a refill. Good play.

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