Tuesday, March 22, 2011

Your Regular 8:00am Bloodletting

If you're like me, you're probably sick and tired of seeing this shit almost every single frickin day:
At least, so far, we've begun a nice FUBM but still...it sure does get old.

Take a look at the POSX. I think its important to note that the rallies are getting less and less dramatic. This tells me that there is waning enthusiasm to buy the dips. So, the question is, what happens when the buyers simply fail to appear? No bid and a steep drop. If you haven't yet, I strongly encourage you to read the latest from Gonzalo Lira regarding the global reserve currency.
http://gonzalolira.blogspot.com/2011/03/toldja-dollar-broke-lowerso-now-what.html
 Onto the metals where I had hoped to buy the dip this morning. The building FUBM means I may have already missed it. Gold is $5 off its low and silver is back above $36. Gold, in particular, may not go much lower have filled its gap from Sunday's open and finding support at $1420. If you wanted to gamble, the April options expire will expire next Monday. A dip later this morning back toward 1420 may present an opportunity to "roll the bones" on some April 1420 calls.
This "silver at 36" issue really has me perplexed. I've received a few emails telling me not to ascribe the action to "conspiracy theories" as it "lessens my credibility". (First of all, I didn't know I had any credibility. I'm typing this in my underwear, from my parents basement, trying to hurry to finish before the next re-run of Seinfeld starts.)
But, seriously, $36 has become THE BATTLEGROUND, whether intentional or not. Everyone is watching this level now. Longs are reluctant to add above 36 for fear of the quick beatdown. Shorts have their stops placed above last week's highs for fear of being overwhelmed once the dam breaks. The dam will break eventually and the shorts are going to "take it in the shorts" again. In time, and I still think this will happen be later this week, silver will break clear of $36. Longs will gain confidence. Silver will breach the $36.75 highs of last week. Shorts will panic and start to cover. Silver will be at $37.50 real fast.
We're trying again right now. It is Happy Tuesday, for crying out loud. I have a last of $36.12. A move UP through 36.20 would signal a run back toward the earlier highs near 36.35. IF we get through there...

More later. TF


12:20 EDT UPDATE:
Silver is trying...trying...to work itself free of the shackles of 36. The run this morning to $36.47 was the start. IF it can now find support back just below 36.30 (36.32 last), we may finally begin the thrust higher and start really squeezing the a-hole shorts.

195 comments:

  1. It's Blythe's birthday, Turd!

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  2. Ascribe to all the conspiracy theories you want, Turd. We can all use our own god-given filters to decide for ourselves what is/is not plausable. If large corporations can conspire, so can governments. As far as I can see, governments have greater need and capability to conspire due to us people not believe in their omnipotence...hows that for plausible?

    www.infowars.com

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  3. Daniel

    Are you serious about it being Blythe's birthday? Well, we should all conspire to send her a big huge flaming bag o' crap then. A big fat FUBM is very much in order.

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  4. Turd
    The people who tell you what to say and think have no credibility themselves. In the face of overwhelming evidence to the contrary, they defend an indefensable postion. F*k em!

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  5. Ignore the concern trolls

    concern troll:
    In an argument (usually a political debate), a concern troll is someone who is on one side of the discussion, but pretends to be a supporter of the other side with "concerns". The idea behind this is that your opponents will take your arguments more seriously if they think you're an ally.

    Am I wrong, or did they not just "conspire" to buttress the dollar and depreciate the yen a couple of days ago? Certain levels (e.g. 80 yen/dollar) have significance for our Superiors. And these jackasses (you know who you are) who come here and run the Jon "Go" Nadler playbook ("I love gold, I really do, but all you yokels are just so misinformed to think anything other than basic market forces are at play....) can shove their "wisdom" up their asses.

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  6. Eric:
    http://en.wikipedia.org/wiki/Blythe_Masters

    "Blythe Sally Jess Masters (born 22 March 1969) is an economist and current head of global commodities at J.P. Morgan Chase"

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  7. Credibility on the internet? His name is Turd Ferguson and he posts pictures of poop next to the US Dollar. I think people need to learn how to form their own opinion rather than complain about others statements.

    With that said, I think silver/gold start to move soon.. once gold breaks $1444, there is a new dynamic. If this happens with a falling USDx, it will only encourage it to accelerate in my opinion. I don't think this next gold surge will be light, as I think we will get to past $1500 before we get some serious resistance. Gold has been consolidating for an awfully long time, and its return as a global safehaven is upon us.

    http://www.zerohedge.com/article/gold-just-1-record-nominal-high-1444oz-risk-dollar-crisis-increases-day

    I am believing that comex will be able to deliver the silver on the last few days (as someone previously mentioned), but will fail by its next delivery month in May. While everyone always talks about comex, GLD and SLV pose greater market risks in my opinion. Imagine when all of those investors find out its a giant ponzi scheme. And JP Morgan is the custodian of SLV, so do they get dragged down too?

    Either way...

    SLV and GLD steal billions of dollars from miners....
    -
    Scott

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  8. Just passed Turd's $36.20

    Happy Tuesday is upon us!

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  9. Hey SGS and others,

    I heard your mention that you subscribe to the Midas letter. Do you recommend that news letter and what are your comments on the Dines letter?

    Thanks in advance

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  10. Also see this classic (if somewhat low-res) artist's impression of how she rolls in her free time (from Jesse's Cafe):
    https://lh6.googleusercontent.com/-9iDHsNQ4jiM/TYfmlj-IBGI/AAAAAAAAQT4/vw6i9HxxUEA/s1600/Baba_Yaga.jpg

    Also, it seems like we may now be bouncing between 36.1 and 36.3 (instead of below 36).

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  11. great time for the WB group to make an appearance and give BM a nice Bday present like perhaps $37.50 today?

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  12. Trying to decifer the EXK release, in relation to the action in the stock. I'm wonder if people are honing in on the "realized silver price" of 19.62 for the fiscal year. Maybe people are *wrongly* thinking there's some hedging going on there. First off, that's fiscal year. So it covers a lot of 2010, where silver wasn't doing much. Plus there are always some royalties, NSR's, local minority interests, local smelter fees, discounts for dore bars or whatever going on. MIners seldom get full spot price for their product.

    This release doesn't worry me at all, but along the lines as I was telling atlee yesterday, that's why I don't really trade individual miners that much, and I seldom or never trade the news releases because you never know how the market will interpret something.

    If I wanted a core holding, then plus a little extra to trade in and out with, I would only do it with SLW or GDXJ, Not with any of these other little guys.

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  13. Nice jump there..

    When did google finance get a 15-minute delay on SLV, SIVR, AGQ etc? I remember it being real-time as recently as last week.

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  14. The monkeys must be taking a coffee after a very busy morning

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  15. Ginger ... reply to you from last thread

    All MSM has been consolidated into the hands of 4 or 5. Nothing goes on those stations without control including GB.

    Think about it. GB does this for a living so how could he not know about silver manipulation, CFTC, JPM and all. One would have to think he and his staff have their heads in the sand. Not so IMO.

    Mixing some truth in with his stick will keep the masses watching and keep GB gaining trust. YOU know the truth about JPM and that is why you are perplexed. The masses who don't know about JPM will tend to drift toward GB's slant because of trust manufactured by the truth mix.

    IMO GB is just another talking head from a different angle.

    Turd ... great stuff as usual

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  16. Blew through 36.20 like it wasn't even there. Wowee..

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  17. I hope people don't regard this as pumping. Last Friday I brought up Lexam, one of Rob McEwen's companies -- he of UXG and MNEAF renown and of course the guy who built GG from nothing to what it became. (Note: I used to own lots of UXG and got scared out, oh, somewhere below $2. *#^k me!) Lexam had been obliterated and I alerted people around the .78 fire sale price. Well, two days later it's now at .91. Please don't jump in now without carefully checking it. But I went in based on what I've seen McEwen do with companies in the past. Hope my intuition was correct.

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  18. This could still be considered mid March for the WB group...37? WINNING!!!

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  19. 36.38

    It's on like Donkey Kong.

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  20. Damn Ireland, giving teh USD a bounce

    There were rumours of a missed coupon payment by an Irish bank earlier today..

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  21. Holy crap.

    AG is in the words of my favourite blogger "Kickin Ass, Takin Names"

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  22. Holy smokes, if you look over the last 2 weeks my little buddy Avino has done a pretty nice FUBM of it's own.

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  23. Turd,
    Your uncanny knack of reading pattern perplexed me.

    I was scratching my head for a moment. Realized the beauty after sometime.

    Could not stop myself from hitting the button. In Hindu numbers amount ending with 21 supposed to be lucky and auspicious. Check-It-Out !

    I really don't care if you are staying put in your parents basement. ;)

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  24. This comment has been removed by the author.

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  25. Holy crap is right!!!
    What a impressive "blood transfusion" up.
    Hope gold follows on it's heeels.
    It's at times like this I wonder what type of action is really taking place.
    How many contracts for how much etc, by whom etc...It's fascinating to consider the action and the huge amounts of money moving around.

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  26. Miners were lagging the physical gain for most of the morning, finally starting to converge again. Anyone else more qualified see this/trade it?

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  27. Anyone worried that the HUI isn't really doing anything?

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  28. The miners sure are lagging so far. The lack of buying interest concerns me...

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  29. Congrats Turd
    You called it buddy! 10 days of this action would be Nirvana.

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  30. Chin Music,
    I've listened enough now to understand that GBs general thesis is that there is another (separte) group from us who want to take down JP Morgan/Chase. He's not taliing about 'us' who want the silver manipulation to stop...though that doesn't explain why he doesn't address the silver manipulation issue. This 'other' group is not the same as us. He is talking about a different group who literally want to destroy the US and bring about an economic meltdown. I think most of us here agree that we do not want the destruction of America.

    So.. ..yes, I agree with you that something is not right here ...though I can't quite go all the way with you that there aren't at least a few in the MSM who are decent peoople and not bowing to the EE. ...But.. ..that could just be the eternal optimist and naive dreamer in me. "/ ...Need a little hope that there are decent people in places of power.

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  31. Seems to be holdingwell over $36.35, I'm buying a little extra, I feel like we may be holding well over $36 today.

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  32. I would also stay away from the conspiracy stuff cause that will take away credibility from your credible arguments.
    Now if you can provide a smoking gun along with the DeepThroat then it is worth going down the conspiracy slippery slop.
    But myself am more interested in your double top theory cause I think that could hold true. Keep watching!

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  33. No congrats yet.
    Lets get thru 36.40 and head to 36.75. Pull back and then charge through.

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  34. A premise many make the mistake of starting with is the notion that equally intelligent, equally well meaning individuals will come to the same conclusions from a given set of facts.

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  35. so now I'm a pirate like bad guy Qaddafi because I want gold and silver. We have officially returned to the 17th Century. Government propaganda via the bullion banksters is the rage. Amazing and all too predictable. Now I'm Johnny Depp huh? Ship AHoy Mate!!!

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  36. I know a lot of us are irked when miners don't follow phys. silver, but you have to remember they are still stocks traded on the market. The Dow is currently flat, no surprise that miners aren't receiving the attention they did yesterday when the market was a boomin'! Ha ha, soon enough my friends, the miners will mirror silver's moves as if they were attached by an umbilical cord, which depending on how you look at it, they are.

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  37. ....But of course I'm hedging that eternal optimism and naive dreamerocity.. :D

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  38. miners always lag imo. Hedgies short em and long the bullion. Eventually that nonsense will stop.

    Ayyyyy! Shiver me shivers!!! I spot a Union Jack on the horizon! All hands on deck!

    JPM gets us into WWI to cover its loan to England. They can create any kind of propaganda. I suppose talk of gold confiscation comes soon enough and all manner of threats and disinformation.

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  39. Although I'm tempted to sell and walk with my 20 points, I've learned to not be too quick to jump off the train.

    Let those profits play. Let's see where this goes.

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  40. My god... Seriously, people saying stay away from conspiracy theories? What planet are some of these people on?!?? Heard of GATA? Heard of Andrew Macguire? Those "conspiracies" are facts now. One day many of the things that are laughed at currently by people will one day be in textbooks. Conspiracies are all around us and they are the thickest and deepest around money. It's always been this way.

    Put another way, you know who's the most likeliest to get rich? The "crazy uncle" types. The ones that collected coins (even general currency) because they knew that paper was worthless. The people that have an idea and acted upon it because the rest of the sheep had never thought of it.

    Anyone who thinks conspiracies don't exist has never worked for a large corporation or the government, and they are NOTHING compared to what goes on with financial institutions.

    Keep the conspiracies coming I say.

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  41. If people were not conspiring to steal OUR money then how would THEY manke money. CONSPIRACY THEORY is just a way for the crooks on wall street to make us think we are crazy. lol . nothing to see here folks move along and give us all your money and come back for more and if you dont like it buy war bonds.

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  42. FYI, same Justin, tired of looking at that other pic of my mug all the time, as I'm sure most of you probably are too. Time to give Magnum some face time.

    I don't want to jump the gun or jinx, but silver is up while gold is down. Disconnect starting to show it's face now? How quickly things have turned since opening, always look at the glass as 1/2 full and keep the optimism, even if you happen to be a pessimist like me. ;)

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  43. Chin Music @ 7:32...You are so right on. I continually have to explain this GB phenomenon and it's value to EE. He is definitely not to be trusted.

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  44. I wouldn't expect miners to track silver 1:1 just because a single day's move does not change the long-term outlook for silver price 1:1. I would think about it from a DCF perspective. Spot silver jumping 20 cents isn't going to have the same percentage impact on the expected future cash flows for miners.

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  45. I'm going to post something I sent to Turd this morning: http://imgur.com/0gSGA.jpg

    If, and I repeat IF, we do not crack it higher today or tomorrow, I think it's likely we'll be stuck in this range for a little while. At the very least, it wouldn't surprise me. Nonetheless, I'm still looking for a wild move higher in the metals sometime in May, and perhaps sooner.

    Would appreciate everyone's opinion on this.

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  46. Has anyone heard usa wants libya stock pile of gold so they can flood the market with gold to supress price? I heard it today

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  47. nice abcd up leg, time for a little retrace now?

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  48. Trader Dan posted the latest Silver action of this morning

    http://www.traderdannorcini.blogspot.com/

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  49. @ Harry,
    I'm assuming you aren't referring to the Elliot Wave seeing as how if we were in a "C" trend we would be going down right now. Which theory are you referring to?

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  50. Rick & Chin Music,
    I respect you both. Even if I don't totally agree with you all of the time!

    Thank you Turd for this place to learn, to get informed, to change your mind, or not, and to 'prepare accordingly'.

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  51. I think people would say there's pessimism inherenet in all precious metals investors. We're largely as a group pointing out the obvious flaws and unsustainability of the monetary system and putting our money where our mouths are. The more unstable the monetary system (and society) become, the "better" our investments do.

    Personally, I believe that since we truly can't vote TPTB out and other "direct conflict" is daunting to say the least, we're just using the system to best protect ourselves from the BS of TPTB.

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  52. Anybody believe that there may be some gold/silver swapping taking place?

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  53. A little more REE news since quite a few of us dabble in some of those miners.

    China rare earth prices explode as export volumes collapse

    I've been following China's news on REE's and there still has been almost no effect at all on shares of companies outside of China. Considering there are only a handful of them with the heavy REE's, these companies will explode when investors figure out what is going on. Not going to recommend any picks here since I currently own one, do some checking around and see what you come up with. This article lists a couple of miners though.

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  54. From ZH

    And just as oil was trending lower on the day, we receive our now daily news of Israel conflict escalation, as Reuters reports that tank fire has killed 3 Palestinians in Gaza, wounding another four including children. Bloomberg also chimes in:

    * ISRAEL ARMY SAYS FOUR PROJECTILES LAUNCHED FROM GAZA HIT SOUTH
    * FOUR PALESTINIANS KILLED BY ISRAELI FIRE IN GAZA, OFFICIAL SAYS

    The result is an immediate jump in oil as the market apparently, and contrary to our expectations, has to digest this latest piece of geopolitical news.

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  55. Ginger...I respect you as well.I wasn't dissin' you personally. I just don't like the GB deception.

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  56. Attention Prospectors with pick axes.

    VGZ has just gone to new highs on good volume. I am of course biased.

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  57. Oil is out of control, thanks for the news tip e7339857398579835-5534545345-353452345-1234980s :)
    -
    http://www.futurespros.com/energies/crude-oil-streaming-chart

    That is what I call a steep climb...

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  58. WWIII is underway this week just as Gerald Celente and several others have forecast. This whole thing is spreading like wildfire thru a forest. Now that everyone is looked the opposite direction, Israel starts bullying from the skies. Typical.

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  59. Guys, this is slightly off topic, but I found it interesting because this video has people (Progressives) discussing how they want to disrupt the system and destabilize it. Guess who their target is? JPM...
    http://www.theblaze.com/stories/revealed-the-lefts-economic-terrorism-playbook-the-chase-campaign-for-a-coalition-of-unions-community-groups-lawmakers-and-students-to-take-down-us-capitalism-and-redistribute-wealth-power/

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  60. @ Rick ...

    agreed ... if what I posted has at least caused people to look at GB with a different pair of spec's then that is all that is warranted IMO ... I just present what I see and realize that people have a God given ability and right to their own conclusions.

    Watched JFK the other night made in 1991. Had not watched it since back then and was really taken by the fact that after the assassination of JFK and the work by the D.A. from N.O. the media attack was overwhelming. To think that was back in 1963 to 1969 and the consolidation of MSM into a few hands had not even happened yet overwhelmed me ... JFK had flaws as any of us do but I am convinced he was the last true president we had

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  61. "Yukon Cornelius said...
    My god... Seriously, people saying stay away from conspiracy theories? What planet are some of these people on?!?? Heard of GATA? Heard of Andrew Macguire? Those "conspiracies" are facts now. One day many of the things that are laughed at currently by people will one day be in textbooks. Conspiracies are all around us and they are the thickest and deepest around money. It's always been this way."


    I second that notion.

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  62. Wow - speed posting.

    rthaler71 - Ahoy Matey. 17th Century once again. Bankers, Pirates or Explorers, depending on who backed them. Pieces of eight. Treasure chests. Naval battles. And sorry to lump you in with the bad guys - we aren't bad guys, we just see what the game really is.

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  63. @ Ginger

    I have no problem with anything you have stated ... I respect your right to opinion ... I don't walk on water :-)

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  64. And as to conspiracy theories - this market is manipulated.

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  65. @Justin, I'm referring to Gary at http://smartmoneytracker.blogspot.com, who describes gold as moving in a four-wave pattern: A-wave higher, B-wave lower, C-wave with a parabolic top, and a severe D-wave correction.

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  66. Chin...Agree Kennedy was human but he saw the banksters and the fed for the enemy they are to liberty and he was murdered for it. There is no mystery to me.

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  67. @Daniel: No worries, Lexam's market cap (200M) is a bit on the big side to make pumping very effective here. Not like Mountain View at 10M or so where you can see the affect of comments here on the share price.

    As far as I can glean Lexam does have a fairly compelling story.

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  68. @ Daniel

    Lexam Gold shares property with GoldCorp if it serves me right from looking at them before. Rob McEwen makes his money off of holding shares, just like all of his investors...

    It recently changed its name from VG Gold, which could have caused lack of market recognition. I unfortunately don't own any of this stock, but I think you once again... Rob Mcewen is a class act...

    This is his very own company! He doesn't own many (to my knowledge), so you can bet that he will be working on his project. The website has fantastic resources and pictures, I hope you have checked it out.
    -
    Good luck
    -
    Scott

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  69. Justin/Vincent - there does seem to be a disconnect. Silver has slowly crept up since the open, and gold has struggled. Maybe a swap - good thought.

    DarkPurpleHaze - I think it would make a good novel or movie. Shipping around gold and silver in the dead of night, cash changing hands, shady oriental figures and Libyan gangster/banker/government officials. Drugs, oil and guns and stacks of paper money.

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  70. Wildcat Silver released their initial drill results and they are quite delicious. You guys know I've been a Wildcat guy since day one. More info at my blog for those interested.

    Yukon

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  71. People warned me about stops. But I get bitten by one today. Those bastards took out stops as low as 35.76 before the run up. These are costly mistakes Im making. Argh.

    Still up, but this is a tough game. Go out one day and it is a costly one. Thought Tuesday would be safest to do it. Wrong agian

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  72. Wow, I fancy myself as a Rob McEwen fan, but I gotta mea culpa here that Google Finance really threw me off the trail on Lexam. I pull it up on google and I see a $20m company will oil and gas and uranium and I'm not interested. Now I dig some more and I see a $200m company with a lot of ground in the Timmins Camp. Now tonight I'm going to have to really do my homework.

    My bad bad. There are two different LEX's out there and I think google has them all mashed together or something.

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  73. averagejoe I have had a very similar experience, where it was as if they had known my stop in advance. Hard not to take it personally.

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  74. Eric#1

    so I see that lexam shareholders will get 2.1 of vg

    has this already happened or are they still going through the review and approval process?

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  75. I usually buy at after the morning strike and there was a good .60c run up. Thats what is frustrating. Hard to tell family I'm a day trader when they know I'm a construction worker all my life. :)

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  76. Because I'm such a slick dick, I feel the need for posting this again:

    http://www.youtube.com/watch?v=-IiarVvZguY

    Thank me when you're driving a V12 when everyone around you can barely afford to run their bicycles ;).

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  77. I'm long Trojans for all these FUBM moves. Can't do that without a double wrap.... skanky bitch! lol

    I buy more physical at least once a week no matter the price.....well to a point. I might reassess at 40 but I will likely be a measured buyer up to the century mark.

    Turd, keep on truckin' and just say FUBT "Blog Troll". Your bank account tells you if you are right or not.

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  78. ragedmaximus said...
    Has anyone heard usa wants libya stock pile of gold so they can flood the market with gold to supress price? I heard it today

    I read this today...

    Countries around the world have been freezing Moammar Gadhafi's assets, and trying to choke off the flow of money to Libya's state oil company and sovereign wealth fund.

    But there's one asset they can't touch: the 143.8 tons of gold in Libya's central bank, which is controlled by Gadhafi. Today's FT describes the $6.5 billion stash as "enough to pay a small army of mercenaries for months or even years."


    This is one of the big reasons why some people like physical gold: It's this valuable thing that you can actually hold in your hand. Unlike savings and brokerage accounts, gold can't disappear with a few taps on a keyboard.

    But gold's sheer physical bulk can also be something of a hassle. The FT reports:

    Libya's gold reserves may provide Col Gaddafi with a lifeline – if he can sell them. To raise large amounts of money, bankers said, Col Gaddafi would have to transport the bullion out of Libya.

    Before violence broke out the gold was stored at the central bank in Tripoli. But since then it may have been moved to another location, such as the southern city of Sebha – within reach of the borders with Chad and Niger

    http://www.npr.org/blogs/money/2011/03/22/134763011/gadhafis-gold

    Maybe its more about his gold than anything else....the U.S. can send the troops in to confiscate it and then deposit it into the crimex to keep the price down longer...

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  79. xtybacq & averagejoe -- don't forget, they actually DO know where the stops are. No really. just Google flash trading on ZH, they spent the better part of 2009 ranting about/against that.

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  80. @averagejoe, why are you using them with silver, everybody here believes the trend is UP!

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  81. There is a tiny SHS at 36.40, I think we have topped ;)

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  82. And then this in the FT!!!!

    At the same time, Iran has been quietly stocking up on gold in recent years, in an apparent attempt to shift away from the US dollar and thus protect its reserves from risk of seizure. Other significant buyers of gold include China, Russia and India.

    No international bank or trading house is likely to buy gold with any hint of a link to the Libyan regime, bankers said. “Physical trading houses are now quite reluctant to deal with countries that have been involved with conflict – they don’t know who’s on the end of the trade,” said one banker.

    http://www.ft.com/cms/s/0/588ce75a-53e4-11e0-8bd7-00144feab49a.html#axzz1HLU37bS2

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  83. Btw I don't want to advertise for FutureMoney or whatever company, I just wanted to post a good informational video. Best to continue investing in physical as always.

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  84. Regarding the market, I'd like to remark that silver is leading again, which I find very positive.

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  85. Letting loose rumours of huge gold stashes in Libya no doubt help the cause of usurping the gov't there for the locals as well as international interests. Looting, anyone?

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  86. I find it encouraging that HL and SLW are not way down today, instead green :O (as would be expected).

    These two stocks sometimes reveal market trends before they happen... especially with beat downs when seemingly bullish conditions. Just throwing that out there.

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  87. CD - I know -now- there is nothing I won't believe is done to cheat. I was being poorly sarcastic. But it still isn't personal - they will take advantage of anybody, including their own grannies. That is one of the things that makes it all extra aggravating. The people taking advantage of their positions of power seem to have no moral values at all - they are just about the money. And they are everywhere. The mistake I do think we sometimes make about conspiracy theories is when we assume it is all planned - I think there are lots of times when all the interests happen to align but there isn't necessarily a Bond villain masterminding the whole thing. Some masterminds, some small groups, some individuals all trying to get it while they can.

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  88. It's almost as if most of these miner stocks are waiting for confirmation 36 is in the rearview mirror before punching them higher.

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  89. @Torpedo fish

    Last week if I didn't have a stop my account would of been hit hard. I bought back in lower and made money on way back up.

    Works sometimes but was a mistake today and its why I posting it. I hope someone else might learn from my mistake. I don't just announce my winning trades. I have recieved good advice on these blogs and appreciate feedback yours included.

    Why did I put a stop on? Beating myself up for it. (not really, I'm proud I can just shake it off actually)

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  90. Re conspiracy theories: Just because you're paranoid doesn't mean you're not being followed.

    Bought another two 20 oz bars today at $36, pleased to see it rocketing since by 40 cents, but knowing my it'll drop now by a couple of bucks. But hey, no pain no gain.

    Since I am not an old hand in the PM arena I could be easily fooled, but unless its all a sales spiel by people with vested interests, it sure seems the available retail silver is slowly disappearing.

    Here in Australia at the Perth Mint, the 100 oz bars have been unavailable now for nearly four weeks. You can always buy 1oz bullion, like their current Kookaburra, but since they charge a ridiculous $10 over spot I imagine the sales of those are comparatively low.

    As the Aussie dollar has appreciated substantially against the US$, now pretty much at parity, inflation pressures are not as harsh as in the US. A liter of gas or a silver oz would be a hell of a lot more expensive if the AUD would still be sitting at 0.80 USD as it was last year June. We do face however a real estate bubble which is yet to deflate and an economy joined at the hip to Asian and in particular Chinese growth. Not unlike Canada it seems.

    Ah well, which ever way the cookie crumbles, it's better to have something and not needing it, than needing something and not having it.

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  91. Squeezing the a-hole shorts. From a guy famous for his bottom. I thought we were moving metaphorically upwards, to do some navel gazing around 36.50.

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  92. Isn't the fact that the debt ceiling should be raised sometime in the next week, give some wind to this leg up in silver?

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  93. silver trying to assault 36.40 again...

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  94. @ Harry,
    Thanks for that blog link. I'm pretty sure I remember others getting a short discussion going the other day about that but I was too tired to look into it and forgot about it later. I love how these patterns play out sometimes and it should be interesting to see which route silver takes in the end.

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  95. @ Xty yes absolutely. The conspiracists themselves are ready to eat each other as soon as the opportunity arises. The groups are constantly morphing as conditions and circumstances change. Even the definition of conspiracy is flexible depending on who writes history it could be collaboration or co-operation.

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  96. averagejoe I had actually typed something along the lines of "But think of all the times stops have saved your but." I thought I was sounding all old and full of obvious advice. And therein lies the problem with stops. Too low and they don't save you enough, too tight and the bastards find them.

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  97. Xty...all big money is controlled by bigger money all the way to the top. In the grand scheme of things very little happens at random. Celente says Libyan no fly zone is the beginning of WWIII.

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  98. jake

    I'm totally confused on the whole Lexam thing, so don't ask me.

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  99. The nikkei may put some pressure on tonight. With NY markets down I suspect nikkei sells off a bit tomight. We shall see.

    Turd updated. Hope he`s right but I will be left with dry powder. Waiting for 36 personally

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  100. @Rick: The beginning of WWIII was the financial crash of the worldwide house of cards. ;) This is just the opening act. We were just in the Prologue before.

    Welcome to the Fourth Turning. Should sort itself out by 2026....

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  101. Happy As they say, history is written by winners. Actually, when my hubby was first telling me about silver and I started to read the web, I didn't even realize this was all considered a conspiracy. It is right in the open! And who was a pirate? Totally depended on who paid for the voyage. Been listening to the Master and Commander series on mp3, and it is pretty factual. They are constantly battling for ships containing gold. And they take it and get a cut. Naval officers, not pirates, no no no. Taking 'prizes' for the King. "Hmmnn, prizes", thinks Homer

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  102. Selling Aurcana at a loss last week for Oremex turned out to be a good move even though Aurcana is on it's way back up now(go figure). Had a feeling the ORM news coming out was going to be good so I took a chance.

    I know a couple of you hold it, not sure if you were wondering about the tear it's been on lately, but here is the skinny on the movements.

    Streak of Goodness

    Nice to see a decent amount of miners out here in our portfolios doing nice lately, this will definitely help bring attention to them along with the already slow, but gradual interest due to the rising silver price. This is why I never get too upset on down days, the trend is in our favor.

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  103. @XTY

    I agree. Just feel happy tuesday was wrong day to have a stop. Then to lose money when I could of had nice gain. Why didn't I cancel my meeting with mommy? Or atleast not leave till 10.

    Now I don't know where to get back in. Really sucks

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  104. Arrrrrgggg...Mate! Shiver me shivers! One minute pirates see double top in futures and spy the Union Jack up ahead, abandon ship! Its every man for himself and bury your silver by the map boys, bury it by the map!

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  105. these mkts arent manipulated. Come to the dark side Turd. Luke, I am your father. Right on cue. Come on Bylthe, we are waiting for you at 36.25

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  106. ..."they will take advantage of anybody, including their own grannies. That is one of the things that makes it all extra aggravating. The people taking advantage of their positions of power seem to have no moral values at all - they are just about the money."
    ---
    let's not lose sight of reality here - it's capitalism and we all buy into it. If you've purchased any stock in the past 100 years chances are the company is run by one of those 'bastards' and her tactics get full blessing by the shareholders. taking out stops, driving prices up or down... is all part of the game to make everyone more money.. keep perspective - we all encourage this type of behaviour by playing the market and investing

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  107. Rick - I didn't say anything was random. Just think there are many evil bosses, not one Super Dr. Evil.

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  108. Dave - don't blame capitalism for this. Not my point at all. Illegal, insider trading. Total disregard for the rules. Nothing wrong with capitalism - the complaint is with the manipulation.

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  109. Who ever made the point of 30 min candles indicating swings?

    It seems pretty good indicator of whats up. Not 100% by no means.

    Right now if this last 30 minute candle holds(ten min left) would indicate a move down.

    I will be out till 10am est tomorrow most likely on XAG.

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  110. average joe - even though you should never take advice from strangers on the internet, how about now? Silver getting a beat down.

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  111. OK, this is a bit freaky, but today is my birthday too. I am precisely 4 years older than Blythe. Wow.

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  112. Looks like EE has one more beat down in store. IMO

    Which probably means you guys will see 36.50 soon. Way its going for me today.

    Hey atleast tinka is up

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  113. The reason I bash Glenn Beck is because he gets his material from Alex Jones...he's a neocon shill that is trying to ride the coattails of the only true know-it-all when it comes to conspiracies for the last 16 years: Alex Jones

    Read it.
    http://www.infowars.com/rolling-stone-glenn-beck-rips-off-alex-jones/

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  114. Failures to break through the 36.40 - 36.50 level in the past two weeks: March 7, March 8, March 9, March 13, March 14, March 21, March 22. Very frustrating. Looks to me like someone has drawn up a Maginot line and is defending it vigorously. Either that or the entire world thinks silver is a steal at 35.80, but horribly overpriced at 36.50 (which I find hard to believe).

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  115. Dave 416...Wouldn't corporatism be a better word than capitalism.

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  116. a twin towers on the futures Silver, maybe another nice leg down so she can show some garter belt.

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  117. Let the Comex close. Then we give her her bday present.

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  118. I'm wondering if Blythe has found a new strategy. Walls at every .40 cents or so.

    Like the damn hedgerows in Normandy.

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  119. Massive scalp going into COMEX close. What were the fucking odds?

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  120. I really hope $36.25 becomes support. Even if I lose roughly a grand re-entering. Every holding I have is silver basically. A few shorts on market and BAC. And one copper and potash play.

    But (i know alot of buts) something about the 36 has had me make some mistakes lately. My confidence I would assume. Which is exactly thier goal.

    Cant wait to look back and laugh at 36 and my amature ways.

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  121. OK, spoke too soon about the backwardation. Thanks to Trader Dan for pointing out my error.
    Nonetheless, I am now long May 37s and May 40s.

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  122. Dan Norcini said "I would watch out if March goes to a premium to the May contract as that would portend that there are issues related to the delivery process which are bullish for the market. Such a development would indicate that the longs are getting ready to squeeze the shorts." Look at the march to may premium now!

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  123. Blatant attempt to drive it back under 36 before the close.

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  124. The battle for $1430 Au is impressive.
    Makes you wonder how much is at stake and how invested they are in defending that number for now.
    $1450 could be the real number they fear breaching and $1430 could be the last line of technical defense so they do so with vigor.

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  125. GL Turd on your calls.

    Man I should follow. Feel like with Mr. Diamond heading to Tokyo with a good chance of nikkei going down that 36 will be tested agian tonight.

    With me out your chances are definitly better. LOL Blthye doesn`t like me:(

    This is what 36 has been doing to my head.

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  126. "SSK said...
    Massive scalp going into COMEX close. What were the fucking odds?"

    Yeah, 20 cents truly is massive compared to the two 2$ trading range days we had the last 10 days.

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  127. What are others thoughts of tonight?

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  128. Another close higher than yesterday for silver. Patience Turdites...

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  129. If you look at the 30 minute chart, silver is on a tear. If you didn't know about the whole 36 thing, and just saw that chart, things would look pretty solid.

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  130. OK I am convinced people here are some of the best informed for investing. I'm stuck in an IRA and am looking for what stocks I should look into. Please confirm any posts for stocks you agree with.

    Thanks in advance.

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  131. Actually, the 1 minute is starting to look good too.

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  132. @coatrackbox: I put silver and gold (physical) into my IRA. :)

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  133. Boy that march to may premium didn't last very long. Hints of things to come?

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  134. Hackswell

    I am in physical outside of IRA but like the idea of some kind stock performance in the metals market or relative of metals.

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  135. Markus, maybe when you play t-ball a .30 cent chop off the price of silver is a non-event. But when you have your skin in the game, any scalp to the pos ripples through the mining stocks and translates, in my portfolio into a $8,000 reversal of fortune.

    Don't know about you, but I don't like losing eight grand in a matter of seconds going into the COMEX close.

    hugs and kisses,

    SK

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  136. coatrackbox-- that's easy . . . SLW is one of the best choices I know . . . and even better if you can catch it on a pullback.

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  137. EXK & GPL both red. Another thing that I don't like, with earnings right around the corner

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  138. sk, stop being results oriented. I'm assuming you have so much money in silver because you actually believe in it's long-term trend. You invested out of self-interest.

    The swings go both ways so imho you don't get any extra sympathy based on how much you have invested. The fact is that we had a small swing by comparison and it's nothing to get too heated about.

    If you cant't embrace variance then you're in the wrong game.

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  139. coatrackbox-- but depending on how much you have in your account and if you can't use options then the miners discussed here would give you better return.

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  140. So, is the likely Euro weakness (or is it already priced in?) on the heels of Portugal's govt. 'collapse' really going to make waves in FX markets (and thus PMs), or is JPM really grasping at straws here?

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  141. Am all in... I think we are up from here. Keeping fingers crossed!

    JFC

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  142. Turd,

    Anyone jabbering about "conspiracy theories" at this point is beyond help. Simply stated, ALL of the markets are manipulated these days. Gold and silver especially. A true "free market" would see both metals double or triple in hours and days, not weeks and years. The facts have been laid bare on ths topic ad nauseum. To ignore it like the Nadler, Christain, Gartman and Denninger types is simple willful ignorance. Worse yet, some of them are pathological liars. I say screw those guys. Along with Butler, GATA, Embry, Turk, Sinclair, Trader Dan, etc...Turd is one of the GOOD guys. So let's work together and stay focused. I say Turd is 100% on the money in regard to gold and silver.

    Bay of Pigs

    PS If you are offended by the truth spoken here, you can leave anytime and go drink the MSM Kool Aid. Be warned, I hear it's toxic to your financial health.

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  143. Bullion shop report:

    My Bullion guy has a grand total of 10 eagles 0 maples and 0 bars .Im not kidding ya, he's out till friday. He had a whole pallet of monster boxes of eagles in January . My other guy had about 4 half tubes of differnt date eagles and 16 englehart one oz bars , and a small box of generic rounds .


    The first guy told me he sold out on friday and he can only order so many eagles per order.and he expects the next order will sell out fast .

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  144. Stephen

    Looks good, how about it's peer CDE Coeur D Alene Mines Corp

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  145. Help. Is anyone out there concerned about the lackluster performance of the metals? We have Irish banks rumored to be defaulting. Radiation spreading in Japan. Israel invading Gaza again. Egyptian unrest let out of the bottle again. A third war in Libya. A collapsing dollar and gold is ONLY 1428??????

    Under those circumstances we should be at $2000!! If it can't beat $1430 now it NEVER will!

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  146. "SSK said...
    Markus, maybe when you play t-ball a .30 cent chop off the price of silver is a non-event. But when you have your skin in the game, any scalp to the pos ripples through the mining stocks and translates, in my portfolio into a $8,000 reversal of fortune."


    I hope that's because you invested so much money to begin with, not because you're leveraged up that hard. High leverage might work out if you're lucky or play it on a daytrade basis with tight stops, especially in a market that goes up most of the time, like silver does. I still know most people lose money doing it. Over the long term you can't beat the HFT algos.

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  147. Pzg and tinka both doing well! I've noticed exk tracks the price moves in silver most closely.

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  148. @coatrackbox

    I'm stuck in IRAs too. The hit would be too massive to take them out until another 5 years pass.

    I hold (In order of largest holdings):
    SVRZF - PSLV (I trade them back and forth depending on the difference in their NAVs)

    EXK

    GPL

    GTU - PHY (same deal as with SVRZF and PSIL)

    I hold the same in my Roth except I have a small flyer in TRE.

    Do your own due dilligence. Many profits.


    Jai

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  149. coatrackbox-- nothing comes close to comparison to SLW to play silver with an equity or option because it is a silver streaming company and has none of the risks associated with the miners. That's not exactly true . . . AGQ is even more leveraged but not a silver streamer (there are some on this board that trade AGQ). Also there are low cost miners often discussed here that are very good investments for a 401K and Turd has a post somewhere where he discusses his favorite silver and gold miners. Definately make time to find and read that.

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  150. icarus, relax. Patience. The sound of inevitability is approaching. We are, IMHO witnessing an orderly retreat to prevent a full-scale rout. If we only move up .3 - .4 FRN/day in silver, that is still over 10% in 10 days, 30% in a month, and so on.

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  151. I just bought some long term options on Yamana gold.
    Makes me feel better to get some gold, only had tre

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  152. What is the danger of buying AGQ? I mean if you think silver is gonna go up,and you have money in an IRA you can't take out for several years, why not?

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  153. Whats with the low volume on GPL today?

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  154. My goodness. Lot of unsolicited investment advice today.

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  155. Rob -
    I trade AGQ (not intra-day but intra-month mostly). It's liquid and tracks movement in silver very well, which is all I can ask for. As long as that is the case, I don't see a problem with holding some in an IRA. I would be wary of allocating too much to such a volatile ETF, though.

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  156. Thanks Stephen,

    I will fully research both of those.

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  157. @Turd

    For the time being, I don't see it going much beyond where it has been lately. BM obviously wants it below 36, but she'll temporarily tolerate 36.20-50 because she can always quickly beat it down (from that trading range) below 36 to meet whatever deadline she is eyeing. We are in a completely manipulated market where it takes 2-3-4-5X the normal expense of energy and money to move the market where the non-BM market forces want it to go. Even after the algo sell-offs are done, even insanely volatile and negative world political and economic situations are barely registered (or actually cause drops!) in this messed up market. The only "pattern" I see here are the attacks on the side markets and at the appointed times in New York. Trying to predict anything here is futile. Reading charts doesn't have the use it did in the past.

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  158. Any thoughts on short term? Tonight and tomorrow. Everyone sounds bullish and long term I am. Just curious to see what happens. If there was a beatdown tonight and opened the comex below 36 would people panic?

    Jamie could set Blythe up for a spike. Or I could just be a bit paranoid of 36. But if it really is that important to them I'm sure it's not over

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  159. Thanks Jai,
    I live by due diligence, that is why I'm getting out of SLV and the POSX.

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  160. This article about JPM is troubling:

    http://seekingalpha.com/article/259549-will-jp-morgan-now-make-and-take-delivery-of-its-own-silver-shorts?source=feed

    I am not an expert by any means, however, it looks like JPM is taking the PM fraud and ponzi scheme one step further. And... they are being allowed (again) to sidestep all of the rules.

    I hate JPM and the EE.

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  161. Pretty happy lately with performance of Silvercrest and Arian Silver.. Also nice to see Impact Silver moving up again.

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  162. Chin,

    If you liked JFK, thi swill blow your mind (if you've never seen it). Mark Lane's 1966 documentary of eyewitness interviews just two years after the assassination... ordinary citizens telling the truth.

    http://www.youtube.com/watch?v=QAnX7atkpyA

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  163. SSK,

    I am the one who asked. I just wanted some stocks to research for the IRA I'm stuck in.

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  164. Oil just hit 105$ a Barrel.... Yikes!

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

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  165. @ 1min 48sec of this video the great Blythe Masters explains with a smerk how commidities can't be manipulated. ( she makes clear to say long term and admits can be done short term)

    http://www.youtube.com/watch?v=KbZNikih6yM

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  166. Turd is right again. Looks solid

    Turning it all off see you at 7am est. Will be hoping to catch a dip sometime around then 8 to 9

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  167. Wow, Nigel. That certainly is a mouthful. Not entirely unexpected, but damn, that's brazen. Logical, but shameless.
    The wheels on this bus are coming off, coming off, coming off...

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  168. I want to see her do that interview again in a leather outfit and riding crop ;)

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  169. FWIW, according to NetDania.com, in recent days, the spot silver market has experienced heavy volume between 3 PM and 4 PM, ET. Dunno why. Furthermore, it is almost 3 PM ET. Fasten your seat belts.

    -- Paul D. Bain

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  170. Bay of Pigs, I like your style. Barry O. has a whole new Bay of Pigs now in Libya, what a weak f...up that guy is.

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  171. Looking at the Kitco chart for silver, I am wondering whether $36.40 will become the "new $36."

    -- Paul D. Bain

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  172. SRV ES339

    thanks for the link .... will watch it with great interest

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  173. For those "stuck in IRA's" you do have the option to open a self-directed IRA and hold physical in it. I am in the process of moving some of my IRA money now. Using the administrator that Tulving does business with. At least with the depositary near me, the cost is roughly the same as an ETF.

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  174. "TRICHET SAYS GLOBAL MARKETS `LESS ATOMISTIC THAN WE THINK'

    Wow. How 'atomistic' did we think they were?

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  175. Endeavour CEO Brad Cooke tells analysts, "We do have our irons in the fire, but there's not much more we can say."
    http://www.mineweb.com/mineweb/view/mineweb/en/page32?oid=123448&sn=Detail&pid=92730

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  176. Oh yeah nice spike to 36.65. Happy belated birthday BM!

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  177. eToro is the best forex broker for new and established traders.

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