Monday, March 28, 2011

Well, That Sucked

Every once in a while, ole Turd rolls out a real clunker like last night's post. Must have been the gin...

At any rate, after taking a beating in the overnight hours, our precious precious metals have begun to rally back. I speculated in the comments of the earlier thread that perhaps a "capitulative low" may be reached during the regular bloodletting hour. So far, that's worked out pretty well. Right on schedule, silver reached a low of $36.43 at 8:20 EDT as the monkeys tried to capitalize on the downside momentum. It has since rebounded almost 40 cents to 36.82. As it recovers, its first hurdle will be the double-bottom from late last week, at 36.85-90. If/when it gets back through there today, it will encounter some more resistance at 37.10 and 37.30 but lets worry about that later. For now, lets hope we stand strong in the face of the option expiry nonsense and hold the line around the earlier lows.
Gold is just stuck. Last week showed that someone or something is keenly interested in keeping it below 1440. On the plus side, it also showed that there are a lot of buyers in the area around 1410. So, for now, we are simply rangebound. Have been for a couple of weeks now. Probably will be for a while longer.
Lastly, some folks have asked me to comment on this:
http://ftalphaville.ft.com/blog/2011/03/28/528886/some-curious-silver-forward-patterns/
I wish I was smart enough to offer some enlightened opinion. It looks to me like a couple of banks are searching rather diligently for some silver and are willing to pay up for it. Anyone have other explanations? Is this even anything significant? I don't know.

As I submit, we're back up above 37 and 1418. Very Nice!!
More later. TF

193 comments:

  1. In case anyone missed it, the POSX is getting kiled thanks to the good folks at Goldman Sachs (first and last time I use those words in the same sentence)..

    See ZH for teh Goldman article

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  2. A very interesting discussion between the posters re: naked short selling of mining stocks over on stockhouse:
    http://www.stockhouse.com/Bullboards/SymbolList.aspx?s=SLX&t=LIST&f=26&l=50&c=2&r=0

    pursuant to an earlier article from Jesse:
    http://jessescrossroadscafe.blogspot.com/search?updated-max=2011-03-11T14%3A59%3A00-05%3A00&max-results=12

    I love Jesse's idea ...this activity is criminal and holding down more than a few mining stocks.

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  3. its okay, when you fall I pick you up, when I fall you pick me up, in it to win this together.

    Obabma being prepped by the CTFC today about the COMEX debacle. Heard it here first.

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  4. The best troll detergent is a nice pop back over 37 ;)

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  5. And I had my Bazookas all lined up to shoot at 36.20... Maybe later this morning nearer the london fix...

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  6. Are you still waiting for $34 lollercoaster?

    You should have shorted at $38 to make money on the way there..

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  7. SGS - if that's true - they'll be looking for the financial terrorist that are bringing it down. Imagine the headlines they are cooking up now.

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  8. OE selling. Turnaround Tuesday tommorrow, do not despair. Buying should come in. Positioning now. Silver tied to Oil as well most certainly and commodities will sell if oil does. Right now risk/reward favors buying oil after the gap down. Who knows? I think alot of support and resistance stuff gets violated all the time, only to then reverse. I think criminal forensics are just as important. What day is it? What is being resolved today? What day is tommorrow? Tommorrow we get releif following OE, this is all I suspect, could be wrong but the risk/reward is decent to good.

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  9. @SGS,

    So if POTUS being "briefed" on CFTC/COMEX does this imply some type of executive order to benefit the criminals??

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  10. Sold all my miners,lost on some and gained on some.
    I will watch by the sidewalk today.

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  11. You will see, all of you bullheads :P

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  12. @Fortinbras,

    regarding tax consequences. . .

    Not the same as your situation, however worth googling "Robert Kahre" to see what the IRS and Federal Courts had to say about his use of ASEs to pay his bills.

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  13. Could be we get a smack down later into the London
    close.

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  14. Purchased 40 10 OZ NTR bars @ 36.60 and bought some Tkrff @ .6405

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  15. lollercoaster,

    You are an amazing chartist and forecaster. last night you said "gold prices will fluctuate". You could not have been more prescient, as the price of gold is behaving exactly as you predicted!

    WOW!

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  16. I'm going to predict that tonight it will get dark, followed by increasing lightness the following morning....

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  17. My two cents. I have a proprietary indicator that you all would laugh out loud if I told you what it was, so I'm not. That being said, it is accurate around 70% of time. For what it's worth, it was negative all last week as Ag & Au were rallying.

    So for the nervous nellies out there who are afraid of these swings, my indicator has now turned positive. Not wildly positive, but positive enough that we should hold support for the time being.

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  18. As noted this morning folks...HOLD!...Thar she blows :)

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  19. lollercoaster - what will we see? An end to your searching for a dip? Did you buy this one? Gosh, and you told us prices would go up and down. Profound. Say something other than that you are waiting for a dip. Anything. Not including some vague threat.

    Ozgur - you expect the prices of PMs to go way down, but you are not a bear. Hmnn. Maybe my dictionary needs refreshing.

    Larry - yes, and I can't remember what I am agreeing with, but all of it.

    And yes the price seems to have bounced. I was a lonely bull in a sea of bears, who only seem to post when they can try to predict a down turn. Oh my god, where will it end? How about above 36, and then up we go. Said it this morning, and I'll say it again. But unfortunately to a different crowd as those posters seem to have left the building as soon as the price started to recover. Lollercoaster for some reason is still here. Ah, back over 37 - who would have thought it, eh?

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  20. Gold and Silver were extremely weak this AM against the commodity currencies. And that is often a reliable tell that gold and silver will lean higher. This 48 hour dip in silver and gold I would call a "flutter." It's like a wobble when everything else is going higher. Don't think it can last. Meanwhile, SPX is in a congestion zone. That index is vulnerable now.

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  21. Sorry for all that, but there was a sea of negativity here before the market opened. Posters who I have rarely if ever seen (and lollercoaster) trying to instill fear. I really think that is what they are doing, but for the life of me I don't know why. They share a lot of features - rarely give any reasons for their forecasts, and rarely have a specific number. Short, doom filled posts.

    Good morning, all.

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  22. I'm liking this break to 37 very much, still holding XAG at 37.115 from Friday.

    Will like sustained 37.50 better :)

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  23. EE is really struggling to keep it below 37 today which is likely their objective for today given opex.

    I just don't see any drop to 36.20, it would serve no use to the EE -they need to achieve $35.99 or lower so options expire worthless. A raid dropping price to $36.20 would just result in new longs coming in strenghthening the bulls.

    If we see a london fix raid it will be to keep price below 36.99 by close. I don't think they have the ammo to go into the $35's.

    All very bullish if you ask me. I'm happy with adding a few options this am and will probably add some more if a london fix materializes. Then just sit back and wait for happy Tuesday.

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  24. If the PMs get hit hard, take a look at GLD at StockCharts.com for a two-year period. Add in the 150-DMA under the 50 and the 200 DMA. You'll see that six times GLD went back and bounced off the 150-DMA. You don't find resistance levels that exact very often.

    Just saying this in case the PMs get whacked hard over a longer period of time.

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  25. Pining - My "guy" was a cycles-timing and chart analyst (taught the WD Gann course) who was very successful and made a lot of people a lot of money with his work while at Shearson Lehman back in the 80’s. A very honest and ethic fellow (rare in the business), he left and gave up a lucrative career there because of what he saw going on with them and other big Wall St. firms.

    He's now living a simple life in Oregon, working out of his home office doing his chart magic for clients around the world. His primary client business is grains, cotton and other commods with a particular interest in/focus on gold and silver. I'd like to do a movie about this guy.

    He has no website and he sends his reports via email. He knows he needs a website, but the process has been slow. He's a bit eccentric (think Dr. House without the pain pills), old-school but he'll no doubt put one up sooner than later.

    I’m looking into just setting up a blog format for him as a return favor for the successes I’ve had with his work, even though I know he’ll rarely post anything other than his charts and reports for subscribers. No frills stuff for people that know what they’re doing. Thing is, he doesn't really seem to care much about getting lots of new clients.

    He's been spot on time after time but I don't want to seem to be pumping this fellow and have probably already stepped over the line here. Anyway, I consider this gentleman a mentor and friend and would be happy to get you guys hooked up. Perhaps he could email you?

    In the meantime I'll call him and see what works best for him in this regard. I imagine he would not want his email address posted, as he works alone, wouldn't want and couldn't handle/read/respond to a bunch of emails. But I’ll check…

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  26. I think we've moved from BM's court to full on press by the EE. The FUEE formation this morning is a breath of fresh air.

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  27. Sorry for all that, but there was a sea of negativity here before the market opened. Posters who I have rarely if ever seen (and lollercoaster) trying to instill fear. I really think that is what they are doing, but for the life of me I don't know why. They share a lot of features - rarely give any reasons for their forecasts, and rarely have a specific number. Short, doom filled posts.

    Good morning, all.

    ---------

    Remember my friend we are nothing but text, what sits on the other side of said text is unknown. People have personal agendas, and spread propaganda to scare people out of their positions, why? personal gain of course. The key is to stay strong and stay on the beaten path to the gains which we all seek. I funnel out the noise and stick to my personal game plan. As should everyone.

    Note: Long time lurker, who just started posting as well.

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  28. buy weakness, sell strength, watch risk/reward in all time factors and keeping size small until later this afternoon.

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  29. Turd, Since you are very adept at "pattern recognition", here is one that might interest you. Look at the daily GOLD over the last 6 months or so and compare to the "Three Peaks and a Domed House". Could Gold be heading back to 1310?

    http://www.safehaven.com/article/5393/three-peaks-and-a-domed-house

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  30. Revett is Heating up!
    Look at the volume cook!

    According to mouserman, goldman sachs and citigroup bought into Revett last week, for a cool million. As much as I hate these two banks, I don't think they are throwing their money away...

    http://www.stockhouse.com/Bullboards/SymbolList.aspx?s=rvm&t=list

    Look for Mouserman's posts. I just added a lot of positions for my brother's portfolio, now far and away his largest position. Good luck to all in the coming days.

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  31. larry

    "a bit eccentric"?? I'm always willing to give that a look. LOL!!

    BUT, I always shy away from the guys who say:

    I got this guy, but I can't tell you who it is.
    I got this system, but I can't tell you how it works.
    I got this super information, but I can't tell you where I got it.


    Several guys get quoted and/or linked here regularly who fit into one of those three camps. You know who you are. And more importantly, WE know who you are.

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  32. Just bought 1 contract silver at 36.83.

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  33. "Men will believe that which they most wish to be true."
    If there was something posititve for the little guy coming from the CFTC today don't you think it would be showing up in the mkt action?

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  34. Sometimes I just can't help watching Fox Business News. When Varney opened up at 6:30, one of the first things he mentioned was silver and how so many people have been emailing him to talk about it.

    Now their tracking board at the bottom of the screen has a ticker for silver. Wow! That's a first. They've always tracked gold, oil, dow, s&p, nasdaq. Seem like they also added the russell 2k last week.

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  35. atlee - I could go either way on CFTC announcement. If it was pro-little guy, EE would be piling shorts on now, while they still can. If it was pro-EE, they would pile on the shorts to screw us all over, knowing there's more to come tomorrow, and the next day, and the next day...If it ends up being a neutered announcement (most likely), then same old same old, which is kind of what we're seeing today. Maybe a bit more of a smack down than usual? But not insanely so.

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  36. URGENT: Plutonium detected in soil at Fukushima nuke plant: TEPCO

    http://english.kyodonews.jp/news/japan_nuclear_crisis/

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  37. The Witch should run for Congress -- who better to effectively maintain a ceiling on anything. Her results speak for themselves.

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  38. Eric - I know... you are correct and I feel the same way about all that. Discerning the sincere stuff intended to help someone from the pump or dump stuff on blogs is like picking gnat poop out of pepper.

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  39. @Nikki

    I did not take a llok at the article but I will personally turn bearish GOLD when John Embry, James Turk and John Hathaway turn bearish. But it seems that they are all super bullish (almost all said its gonna spike up like a rocket and are now just building a base.

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  40. Shill - yes, you are perhaps an infrequent poster. But there is content to your posts - and I assume you must be right that they intend to profit from the fear mongering - maybe this blog has gotten big enough that people think they can shake longs by coming here. My oh my. I am sure that is what was going on with the endless SLV vs PSLV thing - a constant attack trying to get people out of the Sprott fund. Normally I just filter it all out, but this morning it was so obvious I wanted to comment on it. The Turd grows in influence!

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  41. On my way to the coin shop to do my silver for Sovereigns swap! I'm so excited, it feels like Christmas morning!

    Picked out some fugly silver that is bringing me no joy, to swap for Sov's that always make my heart beat a little bit faster.

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  42. Nikki - did you read Turd's post? He thinks gold is range bound, stuck below 1440. So it is unlikely that he thinks gold is going down to 1310. Disingenuous question.

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  43. Im also a new poster.. Im trying to learn from you.. so, sorry if in any moment made any of you feel uncomfortable.

    However I'm in no ways bearish on silver.. Im 125% bullish, and believe the fundamentals, however i hate manipulation.

    Regards

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  44. Eric#1 - go get 'em! There was never any doubt, and at this point has nothing to do with the relative values of silver and gold. And the gold will make you a much better pirate, when the 1700's arrive - I don't mean to dis your earlier times, but I really don't want to return to the 700's.

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  45. im torn do ira buy exk slv or slw today. are miners going to keep pace with silver price?

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  46. @xty.... Disingenuous? Not; FYI: Range bound is a temporary condition which is followed by a break above or below...

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  47. Raul V - I didn't mean to capture you in my net - sorry - please post away. There are just a few that showed up early - and have of course gone now that silver didn't sell off - that are trying to influence especially new nervous investors. Don't let them scare you into selling your core holdings. It is a mind game.

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  48. xty

    Pick any time period you want. Rich is good, poor sucks.

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  49. xty
    If you want to be a pirate you really need to get one of those pieces they salvage from the Spanish galleon wrecks. Long thin gold that fits into your boot. That's where the term "bootleggers" comes from. HIde it in your boot and escape the very nice men from the gubmint.

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  50. Nikki - come on - you can't be serious. Have you read Turd's posts? Here, for example, is a quote from last night's (just the first I found, there are more):

    "Once those levels are behind us, we'll need to best the early morning (U.S.) highs from Friday, around 37.80 in silver and 1438 in gold. Closing above or near those levels would be a very nice and ambitious goal for tomorrow. Then, Tuesday, we can go tackle the highs from last Thursday around 38.15 and 1448."

    He has called for gold to hit 1600 by Memorial Day.

    Disingenuous.

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  51. anyone buy any exk today? i missed low 8.88 looking at it

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  52. xty

    they would even stamp them with false purity marks (understated) because they would be taxed according to purity. Cheating on your taxes goes back hundreds if not thousands of years!

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  53. Eric#1 - yes - to poor sucks, rich is good - but I still don't think around say 415 A.D. would have been all that great.

    I did not know that about bootleggers - now I want something else unattainable. Cool fact..

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  54. bidding TKRFF now. Rally to commence in POS as the shorts are about to be squeezed on insane paper volume. Hope I'm right.

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  55. Goldman Sachs Employees Told Not to Leave Japan

    http://www.cnbc.com/id/42304574

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  56. Blogger Shill said...

    Goldman Sachs Employees Told Not to Leave Japan

    http://www.cnbc.com/id/42304574


    Well, THAT Sucked!


    @xty.. thnx :)

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  57. xty here's a link

    See that long thin one at the bottom of the page? Don't know the size because there's no sense of scale but I've seen some that were 8-10" long. Fit right down into a boot while you are wearing it. Why else make that shape?

    Gotta fly to the coin shop now! BYE BYE

    http://all-kids.us/ship-parts-page.html

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  58. Went to the tax man to drop off my stuff.
    Gave him a Great Panther round.
    He said it was not quite worth enough to pay the whole bill.
    I said by the time he gets the taxes done it will be!

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  59. Totally of topic here but can anyone tell me what time zone the clock is on here as I post it says 8.39. thanks

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  60. Pacific time zone I think ..It's 3 hours later here (11:41) right now EST.

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  61. Situation in Fukushima clearly out of control. Guys being issued plastic wraps for their street shoes and then going in. They are screwing the pooch on this bigtime and then covering up. Too much honor and pride, its almost like Okinawa all over again. They will need to bury it soon. If we had a President he would insist on it and for once the Military could be used for valiant and peaceful purposes.

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  62. Second time in a month some guy walks in with a one troy pound round. This time I buy it for $140.00. Things must be getting tough (hell I know they are - I'm back on unemployment in two more weeks.) I've taken in "pawn" lots of gold over the years but this is only the third time people have brought me any silver.

    Also, an ebay seller from whom I bought sterling plates sent me an email about four 99.99 gold electroplated plates. I'm like Eric #1 with his frugly silver: I wouldn't want, honestly, to keep my physical in this format. I wouldn't mind culls of Libertades, ASEs, even Church of Christ rounds, but Franklin Mint plates .. that's where my aesthic line is drawn.

    Bestest,


    Jai

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  63. Verification Word: disburse

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  64. BrotherJohnF's silver update 3/27.
    bout 9 minutes in.


    http://www.youtube.com/user/BrotherJohnF#p/a/u/1/dZpGTYbbc4o

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  65. I apologize if I offend anybody but telling me that Obama is being briefed on CFTC position on silver makes me laugh. It is a Fed/bankster problem. I hope your right and it goes to the moon. Sometimes a trader has to sit out. This feels Like a good place for me to do just that. Unless they beat it down to 35 today, I am out. Good luck I hope you guys win.

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  66. Bought the dip in PSLV at the opening thankyou.....still have dry powder...just hoping they yank it down again tomorrow.

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  67. just .30 more and we'll be back to friday's level

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  68. They have been trying all morning to yank it down without any results.So BTFD!

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  69. OIL is down about a dollar today, isn't anyone else paying attention to the correlation with the gold and silver prices? I've been watching this for some time now (since 2008). It appears that oil is the greatest control facotr in gold and silver prices. Yet I have not seen any comments regarding this issue.

    Since 1970 the dollar has been backed by OIL. The petrodollar is the biggest control factor, not simply JPM manipulation, blah, blah, blah. People should be clear on what exactly they believe is causing this "dip" today.

    Didn't anyone else pay attention to the crash of 2008-2009 and the correlation between gold/silver, oil, the dow and the dollar?

    Good article about this subject:
    Google:
    "A history of rigged fraudulent oil prices and what it can teach us about gold and silver (undergroundinvestor)"

    Would it be at all possible to get some intelligent discussion going about this topic? Or are we simply going to blame solely JPM??

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  70. YES a good old FUBM

    First day off work. Have all week to watch silver to go bullish. I want 40!!!!

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  71. Optisciguy,

    Turd talks about it almost every day...All his old posts are archived, you should have a look

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  72. Do you not read TF, optisciguy? Gold and oil, conjoined twins...

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  73. LOL, yeah Mister, like yesterday for instance!

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  74. Interesting observation comparing today's circumstances with 1979, just before the spike to $50.

    http://silverdoctors.blogspot.com/2011/03/silver-preparing-for-parabolic-spike-or.html

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  75. RV,
    Now a days you can't run a fraud empire from just one time zone. It's a world wide operation.

    enough said

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  76. I just wanted to take a moment to thank all the (D)umbasses and (R)etards for all you've done for America.

    http://usdebtclock.org/

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  77. Larry,
    Last year I read several articles on The Gold Report by Toby Connor. I liked his analysis, charts and agreed with what he was saying. He too is a cycle guy. He claims every Hedge fund out there has a cycle person doing TA for them. I decided to try a 6 month subscription which I ended up converting to a 15 month (he was running a special). He too used to send out emails nightly but then got so popular that his email service would not let him send out the bulk emails thinking he was spamming. He finally got his own web site and blog. He too has been right on and I have made a pile of money this past 9 months or so. He had a very good report this past weekend on what is happening and what he thought would play out this week. This week is very critical for the dollar. He also thinks gold/silver will complete the "C" wave we are in regardless of the dollar. If the dollar does continue lower then it will just help out the "C" wave.

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  78. Atlee – you said, “telling me that Obama is being briefed on CFTC position on silver makes me laugh”.

    Makes me laugh too. And cringe. I can just imagine the briefing that Obama would get. The Morgue’s very own William Daley, now PresBO’s Chief of Staff walks about ten feet into the Oval Office, sits down and, well, the brief goes something like:

    PresBO: So, uh, Bill… what’s all this about JP Morgan and the CFTC?

    Daley: Good morning Mr. President. The CFTC? That’s just political noise from the Tea Party do-gooders who are anti-banks and a bunch of speculators trying to corner the silver market. It should blow over in a few days.

    PresBO: Oh, ok. What is CFTC anyway, a political action committee?

    Daley: Something like that, sir. By the way, JPM would like to make another sizeable contribution to your 2012 campaign.

    PresBO: Very good, thanks for the briefing. Just do your thing. Gotta go… tee time after lunch.

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  79. There's a lot of grumpy people this morning.

    We're coming back. This was always in the cards. Hang loose, silver will see 40 and up, it's just a matter of time.

    Just Remember "Serenity Now"

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  80. shit just got real! ¬.¬

    a bit underwater on short-term positions but the silver yoyo keeps on giving. still looking for $40 this week, supply situation remains the same. good luck to those waiting for $34 and below.

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  81. Not to mention "Festivus" for the rest of us

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  82. Larry,
    No one is briefing Obama, it's tournament time, Obama only initiates no fly zones during tourney time. Free markets briefing only occur after the 2012 election

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  83. http://finance.yahoo.com/blogs/daily-ticker/howard-davidowitz-obama-doesn-t-clue-fix-country-20110325-072825-462.html

    Is it possible to buy a new President on e-Bay?

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  84. optisciguy,

    Here's something of interest for you regarding the relationship between gold and the post 1971 US$.

    http://fofoa.blogspot.com/2010/10/its-flow-stupid.html

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  85. Brad -

    I'm not familiar with Conner but it sounds like you've done well by him. If I were a savvy trader like Turd and some of the folks here I would've been using the timing and hedging/options/futures tactics to increase my advantage, but that is a skill set I just don't have.

    But even as a simple investor, and knowing my limitations, the timing itself has helped immensely with my purchasing of all things commodity and pm related, so I'm content doing that. It's worked out very well.

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  86. Optisciguy....I totally agree and so does Turd and others.
    Paste the articles website IP when you get a chance.
    I already read it, maybe some others haven't, but most on here are aware fo the relationship. It's too obvious not to see.
    Plus the USD has had a lot of movement to it the past couple weeks here due to the Euro recently and the huge Yen interjection plus Bernanke pulling huge levers of liquidity all over the place.
    The whole FX market is sloshy right now and thats also effecting PM's ,oil etc. They don't have a grip on it yet and the USD just seems to want to naturally fall no matter what they try to do.
    Looks like thats been the plan the whole time.

    U.S. MENA/oil policy is what is going to effect the entire market for some time to come if the U.S. has decided strategically that the turmoil in the MENA is "the big one" and some type of long standing projected plan is being implemented to interject in certain countries as a way to gradually control the whole regions oil.
    Doesn't it seem a bit odd that China nor Russia is really saying much and even abstained from vetoing the NATO measure from the start.
    I think both of them now this is about oil and the much larger MENA situation arising and the potential far reaching instability it might breed.
    Petro/energy dollars are behind almost every major decision or consideration to most Central Governments. We are energy slaves basically, including myself.

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  87. Larry,
    Toby Connor is just a "screen" name. His real name is Gary Savage - web site is www.smartmoneytrackerpremium.com

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  88. Ferdinand said: "No one is briefing Obama, it's tournament time, Obama only initiates no fly zones during tourney time. Free markets briefing only occur after the 2012 election"

    Do you know how silly you sound? Give it a rest, please...

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  89. Obama gets a daily briefing on world markets:

    http://www.cnbc.com/id/42092643/Treasury_Monitoring_Global_Markets_From_Basement_Bunker

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  90. I'd like to second BradE's comments on Gary Savage, aka "Toby". I've been subscribing for over a year, and the guy has been right on target for a while now. He's kept me in silver (AGQ, SLW, etc.) when I otherwise would have been tempted to trade in and out, and would have made a lot less money as a result. No one is right forever, but he seems to have a good handle on the overall picture.

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  91. I have go to back track a little on the Goldman comment. Just talked to a cousin who has HAZMAT training. Told me no one in the hot zone gets out with out being decontaminated. If you don't get your radiation levels down the either can leave or you are isolated in another area further away. He says their told to shoot people who attempt to leave the zone

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  92. Why would I pay for tax work with silver?

    He is an old friend that has not swallowed the pill yet. He had a good laugh at me when I was completing my core holding of gold at $640 and then again with silver at $17.

    Well now the laugh is on him. He just called to tell me he can't take his eyes off that Panther. Says it is just so beautiful and now worth more than when I dropped it off this morning,

    Got him!

    ReplyDelete
  93. good day all!

    Received Great Panther rounds today! order filled sent 2 day fed ex from northwest territorial mint in nevada within 7 business days of order.

    the panther is delightful yet not the gleaming mandibles of death look but rather the on the prowl look. the detailed moneworks on the flip side are pretty decent.

    contacted GPL investor relations about the offering announced last week. they got backto me within 24 hours with a nice we cant disclose use of proceeds until the prospectus is filed. no doubt there will be a more helpful press release shortly. you hope =<

    ReplyDelete
  94. Sorry missed spell so much I won't even try to fix it, but you get the idea.

    ReplyDelete
  95. Am not naysaying -I believe will see 40$ silver soon enough- but I just went short (ZSL) at 37.10. This should probably be the signal for everyone to add ;-) but that is what it looks like to me so I am trading it. Will keep VERY tight stops, however. Best of luck, all!

    ReplyDelete
  96. Pining,

    "Am not naysaying -I believe will see 40$ silver soon enough- but I just went short (ZSL) at 37.10"

    A short on ZSL means you think silver is going up...Am I confused or are you?

    ReplyDelete
  97. @ Sumo

    Thanks for the article. I particularly liked this quote:

    "Its got to be smart, its got to be in-depth but it can’t be too technical. Because we don't want him to waste his time thinking about how markets function, rather we want to make sure that we're just conveying to him, for a policy maker, what he needs to know.”

    --
    Oh really? He doesn't need to understand how they work? How convenient and re-assuring.

    ReplyDelete
  98. No, you are correct, I put that poorly- should have said I bought ZSL, which is a short on silver... sorry for the confusion.

    ReplyDelete
  99. I guess this is the push down into the Comex pit close. This should be interesting.

    ReplyDelete
  100. Good deal Pining, just wanted to make sure you had the trade you wanted...figured you probably did

    30 mins left to keep the H under $37...can they do it?

    ReplyDelete
  101. Where are people seeing that "Obama is being briefed on CFTC position limits?" Can someone post a link. (I agree that this is ridiculous, but I wanted to see the print.)

    ReplyDelete
  102. Titus,

    SGS made that claim from insider contacts he supposedly has. No evidence or articles as far as we know

    ReplyDelete
  103. sj88:
    >"we're just conveying to him, for a policy maker, what he needs to know.

    In other words: "We, the bankers, CONTROL the president like a puppet".

    ReplyDelete
  104. In January after CFTC had a disappointing ruling EE came out banging the GlobalEX right away. I wonder what CFTC will do today and how EE reacts.

    ReplyDelete
  105. Silver's performance today has been spectacular given the circumstances. Two things I wanted to mention here and I'll be talking about later on my blog.

    First, I'm totally with Scottj on Revett and it's become one of my favorite miners. I'm telling you all this here before I even blog about it. Haha. Go Turd Nation. I'll have more to say on this later, but real quick copper/silver play and it's valuation isn't taking into account its Rock Creek property which means you're looking at a severely undervalued miner given that Rock Creek is looking like it's a go.

    Second, the wife just texted me from our local coin shop and someone came in and dumped six 1000oz silver bars, three 500oz silver bars, and a bunch of rounds and traded them all for gold. What I'm curious about is have any of you or do you know anyone making a big move out of their physical silver into gold? Just curious.

    Yukon

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  106. It could be that the EE is saving it's ammo for a Globex beat down. They're definitely not using it here before the close.

    They certainly already know the outcome of the decision. Probably most of us do too.

    ReplyDelete
  107. I'll start flipping silver to gold in tranches every drop of 5 GSRs. I start at 35 GSR, and finish by 10 GSR. :)
    That 10 might not ever hit... but one can hope!

    ReplyDelete
  108. yuke, hi! and thanks for what you do

    Well, whomever came in with that much was coming strong to the table.

    I couldn't do that on my best day, so take this FWIW. I'm not gonna do it. I think I'll get a lot more gold in a significantly lower GSR, if I do it at all. Prolly wouldn't.

    ReplyDelete
  109. I understand that March 28th was the cutoff for the CFTC mail-in campaign, but what I dont understand is why everyone on the board here seems to be expecting that some type of announcement on the position limit decision is imminent

    Is there any evidence the CFTC has scheduled a decision announcement for today / this week?

    Thank you

    ReplyDelete
  110. @Yukon- WOW, that is some report, 470 pounds of silver must have been something to see being carried into the store. Trading it for around 200 oz gold may have been just for ease of storage issues? Because I haven't heard anything like that, personally- either in this blog and several others. Lots of discussion of what ratio people will convert at - 25 to 1, 15 to 1, etc but not once has anyone admitted doing so, that I have read. Very interesting.

    ReplyDelete
  111. Stefan
    SGS has been blogging that today will be epic because there is a decision annoucement. He boasts he is connected and has insider info. That is the hype. I am not a believer.

    ReplyDelete
  112. Marco G's article predicting today's volatility

    Terry wrote:
    ==================================
    http://seekingalpha.com/article/260168-gold-and-silver-options-expiry-march-28-2011-expect-volatility

    March 28, 2011 6:01 AM
    ==================================

    Terry, thanks for pointing out Marco G's warning regarding today's volatility. I pointed out Marco's article, too, but on Friday afternoon, hours before the stock market closed. On Friday afternoon, at least two persons posted comments hereon stating that they had heeded Marco G's advice and were preparing for today's volatility.

    BTW, Marco G's articles on silver miners are also excellent. I recommend those articles to all.

    -- Paul D. Bain
    paulbain@pobox.com

    ReplyDelete
  113. Thanks Atlee, I did see his post earlier...so SGS is responsible for both the Obama briefing and CFTC announcement rumors and noone or nothing else, just to be clear

    ReplyDelete
  114. SushiSioux said: "Received Great Panther rounds today"
    ---------------------------
    Just checked GP site and they dont ship international yet, anyone used First Majestic?

    Thanks Ginger for the time info

    ReplyDelete
  115. Atlee
    I am a skeptic also, but I guess we will know for sure sometime today. If there is a decision announcement, then SGS IS the real thing.

    P.S. As the good Lord as a witness....verification word is hypes!

    ReplyDelete
  116. I don't recall any scheduled announcement by the CFTC on position limits for today, only rumor. Today is the cutoff for comments, which I did about a month ago. Come to think of it, my first post on this site was echoing the need for everyone to comment to the CFTC.

    I would imagine that the CFTC would at least wait a few days to at least give the appearance that they are including all the comments through today to make an "informed" decision.

    ReplyDelete
  117. I don't believe there will be an announcement today either. Makes very little sense to me that an announcement would be expected on the cutoff day for the CFTC.

    One would think CFTC may perhaps want to analyze the responses before making an announcement wouldn't you think?

    As for the response (whenever it comes).. Does anyone think the CFTC will make any changes? I for one wouldn't bet on it.

    ReplyDelete
  118. 3/28/11
    Today's retail mining shareholder quiz question


    First, the background.


    1) On Jan 1st 2011 the Executive Chairman of Great Panther Silver (GPR.to) (GPL), Kaare Foy, owned 117,400 shares of GPR along with 75,000 options priced at 70c.


    2) On Feb 22nd he exercised those options, leaving him with 192,400 fully paid up shares.


    3) Then he did this:


    Date filed operation type no.of shares traded price shares held
    24/02/2011 10 - Acquisition or disposition in the public market -29,300 $3.20 163,100
    24/02/2011 10 - Acquisition or disposition in the public market -45,700 $3.21 117,400
    24/02/2011 10 - Acquisition or disposition in the public market +1,000 $3.22 118,400
    23/03/2011 10 - Acquisition or disposition in the public market -44,200 $4.12 100,000
    23/03/2011 10 - Acquisition or disposition in the public market -5,000 $4.19 95,000
    23/03/2011 10 - Acquisition or disposition in the public market -5,000 $4.19 90,000
    23/03/2011 10 - Acquisition or disposition in the public market -5,000 $4.20 85,000
    23/03/2011 10 - Acquisition or disposition in the public market -15,000 $4.22 70,000
    23/03/2011 10 - Acquisition or disposition in the public market -10,000 $4.23 60,000
    23/03/2011 10 - Acquisition or disposition in the public market -10,000 $4.24 50,000
    23/03/2011 10 - Acquisition or disposition in the public market -10,000 $4.25 40,000
    27/03/2011 10 - Acquisition or disposition in the public market -10,000 $4.23 30,000
    27/03/2011 10 - Acquisition or disposition in the public market -5,000 $4.35 25,000
    27/03/2011 10 - Acquisition or disposition in the public market -10,000 $4.40 15,000
    27/03/2011 10 - Acquisition or disposition in the public market -5,000 $4.42 10,000
    27/03/2011 10 - Acquisition or disposition in the public market -5,000 $4.45 5,000
    27/03/2011 10 - Acquisition or disposition in the public market -5,000 $4.50 0





    Yup, in a touch over one month he sold the lot of them (and this is the exec chair we're talking about here, not some IR guy who got lucky and wants to buy his first 4X4 or something) and the dude now owns zero shares of GPR and zero options (according to SEDI at least).


    And now, the promised question for all you out there in retail investorlandia:
    x
    CAN YOU TAKE A HINT?


    from IKN
    http://incakolanews.blogspot.com/

    ReplyDelete
  119. Does anyone believe the CFTC is not controlled by TPTB? And if they are so controlled why expect any meaningful action? Personally I believe they're a puppet on strings but should they do something meaningful to control the EE I will stand corrected.

    ReplyDelete
  120. "lollercoaster said...
    I was going to buy @ 34 area but my money was being wired to brokerage and it took 3 days"

    Something like hat happened to me last fall. Wanted to enter at 24,5, but had to enter at 27 :(.

    ReplyDelete
  121. I, for one, am amazed ANYONE has confidence the CFTC will do the right thing, let alone ANYTHING, but especially that Ted Butler does

    This from a commenter on the SGS site:

    Bix Weir just sent out and email and at the end he says: "PS - Bart Chilton has emailed me saying not expect anything right away other than a possible statement from the CFTC that they are "looking at" the comments. I know what you're thinking but keep the pressure on them. In the end they will have to act."

    ReplyDelete
  122. David,I have used First Majestic,they are good but
    quite a long waiting list.It take 3 weeks to get your silver and they have a limit to what you can buy.I love those rustic silver bars.

    ReplyDelete
  123. Wandee,

    Very compelling info...hmmmm.

    ReplyDelete
  124. @ Yukon

    I have been in Revett since October, entering pre share-consolidation at .50 cents. I initially didn't know much about Revett, but as of lately I have become overwhelming bullish on Revett's short term and long term potential. I don't see how it doesn't become the next great panther like type of stock, and with potential more upside.

    I am expecting a reverse-split in its shares in a 1:5 fashion, to create liquidity once Revett's current share price moves well into the double digits ($20s sometime?). The timing of this reverse split will coincide with news on Rock Creek (this is the big call option for 228 million oz of silver and copper up to ying yang). This is just my hunch, which was adopted from people on the Kitco Forums and my own research.

    Many people may look at this stock and see it has a 5$ share price and think it may not be in for big moves. However, it would be wise to look at the extremely low 36.07 million shares fully diluted and compare that to companies you are in. Their market cap is still under 200million dollars and they are a producing an estimated 1.2million oz of silver at troy mine for 2011 with max output of 3.2 million oz at full capability in the future at Troy mine. Debt free and the largest EPS out of any silver miner at .16. Mouserman on stockhouse gives them a conservative .60 EPS for 2011 assuming current silver/copper prices (read stockhouse link) This is comparable to Great Panther, but great Panther does not have Rock Creek upside....

    That and the recent coverage on stockhouse main website + CEO commenting that hopeful AMEX listing within 2 weeks (the reason they did the 5:1 share consolidation to get their price where investors wouldn't feel they are buying a penny stock) really gets me worked up...

    The downfalls that people associate with Revett:
    Lack of press
    50% 2011 copper hedge @ 3.45
    25% 2011 silver hedge @ 19.00
    Rock Creek litigation battle has been ongoing for years
    Earthquake? (my own personal fear :/)
    ...


    http://www.goldminerpulse.com/c/rvm.php

    http://www.stockhouse.com/Bullboards/SymbolList.aspx?s=rvm&t=list

    I am gonna stop now about Revett, for any more and I may as well be a spokesman for them....

    Looking forward to seeing your thoughts :)

    Scott

    ReplyDelete
  125. Yukon,

    I would think about exchanging Ag for Au when GSR is under 20, but not before. Still much more upside still in the silver IMO.

    ReplyDelete
  126. yawn
    should have played golf

    ReplyDelete
  127. The production levels are similar to Great Panther. But I will add that Revett is not scheduled to have 3.2million oz of production, that is their max logistics from what they believe they can do. Great Panther is scheduled to produce over 3 million oz in 2012 if I remember what I read correctly...

    The earning per share thing was added and I did not do a good job of editing, so please do not associate the EPS of Great Panther and Revett to be the same, for I meant to imply production levels were comparable.
    -
    Scott

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  128. The CFTC will announce that they are going to announce an announcement.
    When they're ready to announce the announcement, they'll announce through the proper channels, who can then announce the announcement to the interested parties, who will then, in turn, announce that they have been given the green light to announce to all interested parties their intentions to continue their blatant efforts to steal our wealth. Stay tuned Turdites

    ReplyDelete
  129. Huge volume spike at 1:44 EST..dont go anywhere yet Atlee, we need ya here

    ReplyDelete
  130. @DarkPurpleHaze

    Article about oil manipulation and effect on PMs:
    http://www.theundergroundinvestor.com/2011/03/a-history-of-rigged-fraudulent-oil-prices-and-what-it-can-teach-us-about-gold-silver/

    What I was trying to get at in my previous post was determining the reason for people buying physical right now with silver near its peak. It is apparent that the oil price spike sparked the stock market crash of 2008-2009, sending silver from about $21/oz to $8/oz. See (Robini):

    http://oil-price.net/en/articles/did-high-oil-prices-cause-financial-crash.php

    Since nothing has changed since 2008 regarding the financial system, we’re due for a double dip (dow < 6000) in the markets would could cause a repeat dip in PMs. However, since money has had literally no place to run other than PMs, it is possible that the upcoming double dip would actually have little downside effect on PMs.

    China and Russia’s secrecy regarding the actions of the US/UN are definitely to keep an eye on. China’s mad about the US not returning its loaned silver and money printing. With China’s PM buying, JPM’s manipulation will inevitably end. But this is where it gets confusing. Would China’s extreme buying of PMs eventually force the elite to depress oil (and hence silver) in an effort to prevent the further depreciation of currencies and hence the total collapse of western economies? Or do the elite want a crash to further consolidate power from the remaining strong countries (like Germany) in the EU? We all know that gold and silver are the endgame. Thoughts about what will happen? Interest rates cannot be raised, more money will be printed, only the suppression of PMs can prevent the final alarm from sounding. To me oil seems to be the only tuning button left.

    For those investing in small amounts (<$1000) there is not as much to worry about, downside risk is reasonable. But for those who have been investing since 2007 in amounts of $30K at a time, there is a high concern for another potential downslide, yet at the same time you don’t want to be left behind for the next run. I’m not asking for investment advice, simply an opposing view regarding a potential double dip and China.

    What is the endgame?

    ReplyDelete
  131. I guess I'm staying long on the Comex for now.

    My only big winning stock today is Esperanza. This one has definitely been one of my laggards over the last few months. Most other stocks are mostly down a bit today (so far).

    ReplyDelete
  132. Has anyone read any Martin Armstrong? He's an economist brought to my attention by a ZeroHedge article by Mike Krieger. He's been in a fed prison a while (recently released).

    Anyway, he has some interesting theories about time, cycles and markets.

    One of his recent entries, 3/11/11, says that June 13 is a KEY date for gold. If gold goes to a low on that date it would be very BULLish. A high would be a bad sign for near term future price.

    Anyway,article here:

    http://www.martinarmstrong.org/files/how%20and%20when%2003-01-2011.pdf

    ReplyDelete
  133. Turd's about to break out a killer new post, I feel it...I can almost hear his keyboard clickety-clackin'

    ReplyDelete
  134. Why are the miners lagging behind this much? GPL is still down about 3.5%, AG and SLW both 1.1% while silver is down just about 0.25% right now.

    I was thinking of using some leftover powder to buy some mining stocks but if they can't perform any better than this I'm likely enough better off just buying more AGQ, SLV or in case the Middle East sparks another rumor UCO or USO.

    ReplyDelete
  135. @David

    I used first majestic and was not happy at all. They shipped my order with a description of the package ("Ag Investment: Rounds and Bars") on the outside clearly visible to anyone in the transit chain. That along with "First Majestic" and my full name and address. They told me it was U.S. customs policy and they couldn't do anything about it. By in the U.S., save yourself some worry.

    ReplyDelete
  136. I'll have what Martin Armstrong is having please.

    ReplyDelete
  137. Seems the Irish and the Dutch get it... what's wrong with America?
    http://www.guardian.co.uk/business/2011/mar/27/dutch-bankers-bonuses-axed-by-people-power

    Fleve:
    As the story goes... Hedge funds are playing the spread... long metals / short miners (they can move the small miners market down with their shorts).

    ReplyDelete
  138. Dollar Index doesn't have much room to drop before back into the 75s.... and is not currently looking good...

    Let's see if it holds traction or if it slips down back to the land of no return...

    ReplyDelete
  139. Like Robert, I also had a bad experience with First Majestic. Really liked the kilo bar, but UPS slapped a $24 "customs fee" on top of the shipping charges (to the USA) and wouldn't release the box until I paid it. FM assured me they'd reimburse me for that, but two years (and several emails/international phone calls) later they have yet to do so.

    They were a fairly new company at the time, and may have ironed out these problems since. But still, I've decided to order all my silver domestically.

    ReplyDelete
  140. SGS making two bold calls today. I am betting with him. He has been on the money thus far. All in...!!!

    JFC

    ReplyDelete
  141. Yukon and Scottj -

    For those of us not yet in Revett, what would you consider a good price to buy in at?

    ReplyDelete
  142. First Majestic HQ is just down the street from my place.

    Maybe I'll go in and give you guys a TR.

    ReplyDelete
  143. Irene, xty, yukon too,

    Well I went and did my swap. Got Sovereigns for some fugly silver. Feeling awesome about it. King George's in the teens, one of them was a 1918 India mark. Anybody who doesn't know what that means, FU and the horse you rode in on. Means a lot to the old romantics in the crowd. Can't even begin to explain it to you.


    As an aside, right next to the coin shop is a bowling alley with the greatest burgers ever. I was telling the proprietoress, that we men are really simple creatures. Some good whisky, a good burger, a good woman, and a few sovereigns in the pocket and we're happy. It's not rocket science.

    I don't know nuthin' but for today anyway, life is good. Don't ever forget it!!!!!

    ReplyDelete
  144. Kinda quiet...

    For anyone following the Fukushima situation closely, here's a video of Stoneleigh on Max Keiser from the 27th:

    http://theautomaticearth.blogspot.com/2011/03/march-26-2011-stoneleigh-talks.html

    In addition to being whipsmart on oil and macroecon, she also used to work in the nuclear field as so has legitimate opinions about what's going on in Japan

    ReplyDelete
  145. @ TYF

    The day of its earnings report it got as high as $5.50 on the news, but had heavy selling as well (apparently by Fidelity according to mouserman on stockhouse). RVMID has had strong support at $5.00 in the face of negative pressure in the last few days and has held nicely. If you look at the charts, there seems to be a lot of buying and not much selling going on. I added at $5.23 in a little bit of a rush on Thursday, and added to my brother's portfolio heavily today at 5.02.

    I honestly don't think you will go wrong in the low $5.00s, but there is a chance that it gaps down to the 4.60 range... but in my opinion I would not bet on it. However, take it as that... my opinion. As I am just an independent looking at this for myself, as I am not really an experienced trader... so

    In the end, if indeed Revett does head to the Amex, with the credentials it has... I believe that anytime before it announces its listing would be a good time to add. Even if you wanted to wait until the news, I think it would be a good add on that day as well.....

    I find myself worrying that I am a bit overzealous about the potential... but I guess that isn't always a bad thing.

    Do your own diligent research, and do not take everything I say as fact although I try to stay true to what I know as fact, but cannot guarentee you that everything I say is accurate as we all lie to each other through our own ignorance...

    P.S. one more negative about US Mining companies is that there will certainly be high royalty taxes by the government... like the 5% stealth tax on miners he imposed in the 2011 budget...

    http://mineweb.com/mineweb/view/mineweb/en/page72068?oid=120691&sn=Detail&pid=102055
    -
    Scott

    ReplyDelete
  146. Automatic Earth is an excellent blog

    ReplyDelete
  147. traditional afternoon swoon in GDX, nothing surprising there.

    ReplyDelete
  148. Agreed Ricky,

    Anyone holding / worrying about mining stocks - Trader Dan has posted new comments about the HUI action today, FYI

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  149. This comment has been removed by the author.

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  150. P.S. Since I have gone this far....

    2/25/2011:
    Analyst coverage by Stonecap Securities initiated on Revett.... initial target of $6.50.

    http://www.marketwire.com/press-release/Revett-Announces-Analyst-Coverage-Initiated-by-Stonecap-Securities-TSX-RVM-1401992.htm

    3/9/2011:
    Stonecap raises Revett Minerals Inc price target to C$7.50 from C$6.50; rating outperform

    http://classic.cnbc.com/id/41984316

    So judging from this, we have not seen the breakout yet...

    ReplyDelete
  151. Eric#1...

    Congrats man...glad you finally went w/ your gut on those. But damn...I actually don't know anything about those or the 1918 India Mark...I was kinda thinking about asking, but you put the smackdown on that one and the horse I rode in on just hawled ass! LOL

    I've been walking around w/ my 5oz silver eagle bar from Sunshine Mint for a week and yeah, I feel kinda cool about it. lol

    It came in handy at one point and turned out to be a good prop to convert one of my co-workers to our side. Just somethin' 'bout that bright, shiny silver!

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

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  153. The dude exchanging all thouse thousands of ozt for gold may be our own Pirate Eric#1 getting his soverigns.

    I agree with you oldNavy I'd exchange at GSR 16 or less (historically there was once an anomoly [I read] when the GSR was 1. That would be great for me but unlikely these days, I think.

    Jai

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  154. I remember the old days when it really was 27.10/oz...someone on here said once "back when we were young." ;)

    ReplyDelete
  155. Marco,

    NYMEX / COMEX silver trading closes at 1:25pm

    ReplyDelete
  156. Hopefully I get this in before a new post from Turd. I have to completely concur with Scottj's assessment. Everything he said from the AMEX listing, to analyst coverage, to the significant changes in the Montana legislature making Rock Creek finally realizable make any price around this range a very compelling buy in point. Again, you're literally paying for the current Troy valuation and getting Rock Creek for free at these prices. In addition, it's not like they have a little bit of copper, they have a massive amount of copper so you're getting a really great silver and copper play here. I'll have more on my blog later, but Revett is under the radar at the moment but won't be for long.

    Yukon

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  157. This comment has been removed by the author.

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  158. so, tomorrow will be happy or crappy tuesday?

    - depends who you ask from :P

    ReplyDelete
  159. @turd

    27.10 right now with the NY close upon us. This represents the low end of what I had predicted. I don't see a further rally before today's close, but I do predict a further assault during off hours and through the morning hours in London. In fact, if the longs have anymore steam left in them, they'll have to hold the line in overnight trading. Any sideways trading or appearance of weakness will be savagely taken advantage of by the Morgue. Those dogs are not done yet ...

    ReplyDelete
  160. OE Racketeering nearly done now. Tommorrow is Turnaround Tuesday that often sees momentum reversal and risk/reward is good for longs on the 5 day chart. K.I.S.S. is the plan. Who knows, but I am positioning for up move thru Wed. morning. I feel much of support and resistance is painted and that just as important are time patterns in the week, criminal forensic trends like OE and then post OE, etc.

    ReplyDelete
  161. Bought my first batch of GPL. If it goes down, I'll buy some more.

    ReplyDelete
  162. @ Eric

    Congratulations! Spread the love. ;)

    ReplyDelete
  163. Considering option expiry and a bankster raid, I'd say gold has KICKED A$$ today!!!

    ReplyDelete
  164. Well, I tried to scan them all, but too much.

    optisciguy - one of the problems we have been discussing here over the past few weeks if is there any safe haven for one's money. If all commodities go down, the stock market goes down, the currency tanks, where do you go with your money? It might be a question of the smallest loser.

    Eric#1 -- awesome - revel in your acquisition.

    And lollercoaster - dip didn't come yet.

    ReplyDelete
  165. Save_Am

    Ian, buddy, I've always been pushing you all the way to buy that silver, and glad to see you are behind me on the swap back the other way!

    Note to all here: this is not a major switch in terms of the GSR, just a little sumpin sumpin I couldn't resist! My head says the GSR's going lower, but my heart says a few more Sovereigns in my pocket is a happy happy day.

    Ian, you need to get some gold in the palm of your hand and not in some account at Monex and you'll see what I mean buddy! It's a whole different world.

    ReplyDelete
  166. You can see a trend line holding the price on the 1-hr chart started from Thursday's high.

    ReplyDelete
  167. God I can't believe I'm posting all of this here, please do your own due diligence and check Scottj's and my blog out for more information (mine will be up later tonight), but I really can't make the information any more clear than this. I pulled these numbers as of late last year.

    Troy - 89.85 Moz AG, 394.41 Kt Cu
    Rock Creek - 228.80 Moz AG, 919.70 Kt Cu
    Total - 318.65 Moz AG, 1.31 Mt of Cu

    %AG - 48.15%, %Cu 51.85%

    Fully Diluted Share Count - 36.07M
    Stock Price - $4.92CAD

    Do the math on that. The real big hurdle was getting the environmentals laid to rest which appears to have happened. In addition Montana has a very jobs friendly legislature and governor currently which WILL translate to being mine friendly. Rock Creek is going to happen. Again, do your own DD, but you can't ask for a better set of fundamentals than this.

    p.s. Oh yeah, they are also a PRODUCER. So it's not like you're paying some crazy amount of money per share for a stock where the assay work, drill results, or funding is still being done.

    Yukon

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  168. Yukon,

    Looks like Revett is not traded in the US. Can you confirm? What is the timing on the US listing, if any? Sorry if you have posted this answer previously.

    JFC

    ReplyDelete
  169. Jesus, you're correct. It's traded on the pinks by the symbol RVMID. The AMEX listing is supposed to happen soon. Here read this:

    http://www.miningweekly.com/article/silver-miner-revett-to-add-amex-listing-2011-03-25

    Yukon

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  170. Yukon

    I been scaling out of my pure moose pasture lottery ticket types lately.

    Anybody doesn't know what i mean by "moose pasture" that's a term I picked up from spending time on the phone (ok, that's old school!) with Canadian Investor Relations guys way back in the day. Anybody can go out and stake a jillion hectares of raw woodsy stuff and then go and do a nice website and sell a shitpile of stock on the basis of that. That's MOOSE PASTURE.

    Going forward I only have producers, and a select few where it's obvious to me that there's a serious number of ounces there in the gound.

    In my experience, one producer probably has more serious growth prospects and seriously good rocks to kick than any three moose pasture douchebags out there. Dont' have the leverage/lottery ticket sort of possibilities, but it you actually want ounces that's the way to go.

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  171. @Eric#1

    Is it just especially the soveverings that make you afib or other lovely gold coins like Swiss and French 20 Frank pieces? I have so many "Lucky Angels" that statistically it's impossible for me to have bad luck now. But the one coin that makes my heart palpitate is the 50 peso Centanario (I hold zero 1 once modern coins, just smaller denomination European and large Mexican coins.)

    Happy for you, Eric!

    Jai

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  172. Pm trading in lockstep with OIL. Until uncertainty resolved and we get a bounce in OIL I doubt we get much bounce in PM.

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  173. The short term is noise, and we can all get it wrong. Correct long term fundamentals is what makes the trader. I think we're all in agreement on the long term fundamentals.

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  174. 9:01a

    BREAKING

    U.S. Jan. Case-Shiller home price index down 1%

    LOL

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