Tuesday, April 5, 2011

Almost Time

Things were really cooking overnight until the Chicoms decided to hike rates. Just another reason not to like those pricks. Not quite up there at the level of Tiananmen Square but it pisses me off nonetheless.
(Never, ever forget that they hunted down and killed this poor bastard.)
(Or maybe they didn't. The news at the time was that they did.)

So, here's you silver chart. After reaching a peak of $38.80 overnight, the hammer (and sickle) fell and so did silver, all the way to 38.07. So far, you couldn't ask for more. The BoS stepped in right where I'd hope they would in the area around 38.10. In the building FUBM since, retaking and holding 38.30 will be the key. Remember that the previous print high in silver was 38.18 so we do not want to spend much time back below there. We want silver to be firm today, giving the impression that the breakout to new highs has taken hold and that $40 is coming very soon.

The main point of this thread is gold, however. It seems that, suddenly, its not just The Turd who is noticing the holding pattern that gold is in. Everybody and their brother suddenly has an opinion and most of them are bearish. Keep in mind and never forget that The Cartel has many, many agents of disinformation out there. These folks are tasked with confusing and scaring you. The more folks they can convince to sell their gold, the less paper gold The Cartel has to create.

Gold is about to break out and head higher. By the looks of this chart, the breakout is coming very soon, probably within the next week. The price was capped back in November (the onset of QE2) at 1425. That level contained it and served as significant resistance for nearly four months. However, gold broke through that level in early March and has used the past six weeks to base above it. This is very important as the time is being used to acclimate buyers to a new paradigm price above 1400. Now that the base has been built, once gold moves higher, the breakout will be obvious to all (except that fool, Gartman). Having mentally adjusted to a 14 "handle", new money begins to rush in as greed overwhelms fear. Somewhere north of 1500 will be the next pause point. Santa's next angel is at 1521 and that sounds about right. I'd expect some light resistance in that area but gold will continue moving higher, eventually reaching $1600 on or before June 10, 2011.
http://tfmetalsreport.blogspot.com/2011/01/1600-gold-by-june-10-2011.html
As we wrap, June gold is now UP $2 on the day at 1435 and silver is unch at 38.49.
Let go get 'em!!! TF

10:30 EDT UPDATE:
Gold is rolling.
Must...
Break...
1440...


11:45 EDT UPDATE:
The timing of this thread was pretty good, wouldn't you say? If you regularly skip my notes and head straight to the comments section, I'd encourage you to go back up and read the paragraphs about gold.

We are really beginning to squeeze the shorts. I have a last of 1448.50 and a high of 1452.
Btw, Brent crude has a last of $122.30 for a spread of $14 over WTI. Soon, WTI will spike higher to close the gap and that will only increase the pressure on the PM shorts. 

368 comments:

  1. Like the new writeup, hoping for one more shot at low 38s to grab a spot on the XAG rocket to 40.

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  2. morning! looks like an interesting day :)

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  3. Have been following your blog for several months now and it provided me with a lot of good and useful information.
    Maybe you can give me your thoughts on the following subject:
    In 1999 there was a lot of concern about the turn of the milennium. It made people worry and they stored food and water and carried flashlights and radios, although it didn’t effect the goldprice (stayed around $ 280,-/Oz the whole year)
    In 2012 we might have an equel event. I mean the date 21st december 2012 (122112), a date on which three ancient calenders will stop. (Mayan-, a Hindu- and an Islamic calender, source: Beyond Neanderthal by Brian Bloom) Some believe this date is the beginning of the shift of the magnetic polars and will cause enormous changes in the weathersystem (there is prove that polarshifts have occurred in the past)
    Do you reckon that during 2012 again a lot of people will store survival-kits and this time it will effect the prices of the PMs considering the era we now live in?

    I’m looking forward to any comment.

    With regards, Henk (from Holland)

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  4. Since the mini high on March 7:

    Silver has gone up from 36.74 to 38.46

    SLW has declined from 46.38 to 43.72
    HL has declined from 10.32 to 9.09
    PAAS has declined from 40.58 to 38.26
    GDX has declined from 61.30 to 59.75
    EXK has declined from 10.33 to 10.22
    GDXJ has declined from 40.79 to 39.35


    30% of my assets are in allocated physical but the remaining 2/3 are in miners like the ones above. I'm getting sick of seeing new highs in silver but not making any money on most of my portfolio. Perhaps they under perform because unlike silver, miners can be naked shorted forever?

    Can anyone think of any rational to stick with the miners-or should we just dump their sorry asses and go 100% physical?

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  5. Been reading this for quite some time, up about 220% on phys AG since '06 so I am def not a rookie. BUT, here's a rookie question, I have about 10K play money, where would you guys put it 1) Physical AG, 2) AGQ or 3) UGL. Would appreciate all opinions!

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  6. I personally feel the bullishness in gold more today with it near break-even than I did yesterday. Gold stocks seem to be abuzz in a way I can't describe; downticks are snapped back up.

    I couldn't agree with you more this time turd. Yesterday morning I loaded up on June GLD CALLS as the 1 year chart in gold just makes it obvious that gold is knocking on heaven's door.

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  7. @pforth: I suspect that a breakout in gold will cause a lot of short covering in gold AND silver stocks. Gold needs to move higher to cement the move in PMs...silver can't do it alone because the main stream media barely mentions silver. Once gold breaks out everything will blow higher in my opinion.

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  8. Hi Turd
    Is there an article on the young man who faced down the tanks? How do you know the Chinese killed him? Very sad and pathetic.

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  9. Ginger

    I went through a phase a couple of years ago when I taste tested every brand and style of canned salmon I could find. Locally or online. Probably 25 different ones. My top pick was the item that I linked, but I will personally vouch for the fact that all Vital Choice products are totally top notch. Free shipping on orders over $99. They have an email newsletter you can sign up for, which usually has a special or two each time also. They have Tuna also, but that's not my area of expertise.

    http://www.vitalchoice.com/shop/pc/home.asp

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  10. Re: Agents of Disinformation

    Alex Jones discusses the Pentagon's system of disinfo w "sock puppets" and trolls on latest Max Keiser - I'm sure the Fed has the same

    Alex in at around 15:00 mark:

    http://rt.com/programs/keiser-report/bankers-debt-ireland-finance-terror/

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  11. pforth-

    It seems to require both an up day in the metals and an up day in the stock market for the miners to move up as well. There are exceptions, of course, on a super PM day or a super stock day the miners will also move up.

    Also, most of the miners are primarily gold mines, and gold has just not been rising "like it should". If gold really breaks out and the stock market continues up, the miners should do very well.

    But having said that, I also think about dumping the miners and getting heavy into silver.

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  12. @winker, 2013 gdxj near the money options. Buy the dips of course.

    @Turd,

    The documentary i watched regarding the tank man said it is still unknown what happened to him. I think it is very likely he was killed, but that is not known for sure.

    Additionally, you are talking an awful lot like sinclair. Why constrain yourself with near term long shot calls? Best to tell the trolls to fuck off now, because the website will go on just like gold will eventually go higher.

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  13. I have a simple question. That chart contains prices from Sep to now. Why does your text say "June" - I don't get it.

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  14. Lord have mercy! I now have my own personal FUJD. After too many sleepless nights (and net losses) holding periodic short GM equity positions (and of course heavy physical), I decided to put a substantial portion of IRA money into CEFs and forget about it, so to speak. After hours of research and and numerous strategic buys based on premium compression, I became 80% filled over the past 6 weeks in my two main choices - cef and phys. Son of a Bitch, within the last ten days, both of the bastids have issued secondaries and are now trading below every single of those incremental purchases, yet the underlying metals are higher.

    Time to turn off the computer and stop trying to outguess/maneuver this crap and just hold for the inevitable. GLTA. jd.

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  15. Ginger

    For smoked salmon, the products from Tonka Seafoods can't be beat. There's nothing else remotely like them!!

    For regular skinless boneless (or traditional with skin and bones if you prefer), I go with Vital Choice. For smoked I go with Tonka.

    http://tonkaseafoods.com/index.php?main_page=product_info&cPath=6&products_id=17

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  16. Now I'm hungry for salmon! Gotta go now :D

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  17. Yep Turd...Agents of disinformation everywhere. It's amazing to listen to the talking heads just keep repeating the same things and nodding their heads laughing/scoffing at the serious and reality of the problems in our system.
    They are either afraid to acknowledge the gravity of our situation due to denial, ignorance or a payoff somehow.
    A payoff sounds unlikely and is probably more of the networks company line they are forced to spread due to advertising revenue/ratings concerns.
    Thats their bottomline. The truth is secondary.

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  18. Anthemius: The chart is of the "June" gold contract.

    Henk: I do not expect anyone besides the lunatics to prepare for 12/21/12. Lots of other really scary shit out there to prepare for in the real world. No need to chase Mayan bogeymen.

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  19. Stay away from cans, only buy in glass jars or certified BPA free cans. Unfortunately I have been told 100% of cans (even the certifies bpa free) have bpa...

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  20. Turd, isn't a continued move up in the PMs tied closely to a continued drop in the US$? We all see that (a) the $ is really low, (b) Euro is really high, considering how shitty things are over there, (c) silver miners are not doing really well, (d) gold is in a holding pattern, (e) oil's rise is not tied to incresed demand, (f) this earnings season could have some disappointments, because of margin compression, among other things, and the equity markets are trading thinly, driven upwards by algos, (g) the Feds probably need QE3, but remember last year where there was a break between QE1 and QE2, so we might not see further depreciation of the dollar immediately via Fed policies. If the dollar uptrends for a couple of months, where do we want to be, defensively?

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  21. i think miners explosive moves are done with limited upside but i notice exk has followed intra day moves in silver price so if silver goes higher exk might not sure on the others jmo

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  22. @raged, I think you're giving up at the wrong time. The major miners are being held down here...my sense is that we're on the verge of the next leg up in majors.

    This feels like a breakout is coming with the major miners starting to lead the charge even with metals down slightly. Jim Sinclair, Eric Sprott, and others have stated in the past few days that we're very close to the next move up.

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  23. I'm not much of a technical analyst, but aren't gold price movements quite steep today? The rise and dip after 8am this morning looks quite severe and unusual to me.

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  24. @Robert Leroy Parker and anyone else...

    Not quite ready to jump into options and my trading activity is restricted to a 30 day hold due to employee trading rules(I should have mentioned that earlier).

    With that in mind, if you had 10k to play with and given these 3 options, would you, 1) Buy more physical AG, 2) go long AGQ or 3) go long UGL.

    Apologies in advance for the repeat!

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  25. Irene,
    I wondered the same thing about why we ..and other countries did not send teams of experts in to Japan from the get-go to help with this catastrophic situation. ..Not just humanitarian aid.. but we needed to have teams of nuclear experts on the ground and not trust or expect these folks to handle this by themselves. It is incredible to me that leadership all over the world wasn't on this from minute 1. Shocking ..and more than disturbing.

    I will stock up further.. right away. ..And yes.. you have a few appearances in my journal. lol. I appreciate your feedback here and always read 'Irene'. :]

    StrongSideJedi,
    What an utter tragedy. You sound like..along with Irene, you know more about this than I do and have done your homework. I don't trust the seafood either and wonder if we can even trust where we are told the seafood is from?? ...Like you say.. you stopped eating seafood from the Gulf ..but I'm not even sure I trust labeling anymore. Too much corruption system-wide anymore. But I guess that's just me being too distrustful and paranoid. Like you say.. Japan and US officials are possibly deliberately misleading us as to the amount of radiation out there from this disaster. Not measuring or deliberately supressing.. either way, it's beyond negligent.

    DarkPurpleHaze,
    Sickening. But classic. It's the game TPTB always play ..Overton Window kind of stuff. If you can't get people to accept a certain concept within the confines of currently accepted standards, you just move/broaden the window of standards. Suddenly, it becomes the new normal. Doesn't make it right or safe or anything that even remotely resembles truth though.

    Eric,
    I am sold on both sites you linked! I added to my favorites and will be checking them out better. My daughter will love also. ....You've made me hungry now too :] ...smoked salmon.. ..mmmmm.....

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  26. Turd,
    I think your image selection of the brave Chinese dissident says it all today. I think I missed the dip this morning at 7am, so I will not be that guy in front of the tanks by going bullish right now at 38.50. The cartel seems active today and I may stay on the sidelines until we break up or have another dip. Perhaps by this afternoon...

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  27. Zaku - where do we want to be? In precious metals. There has been a great deal of discussion of this very topic over the past week, and the best answer seems to be in precious metals and maybe try profiting from other rising commodities. Chasing currencies - if you have awesome timing be my guest. But your question strikes me as odd - asking TF what he thinks? He is very explicit in his posts.

    DPH, etc., re denial - that is why I wonder about prescription drugs: anti-depressants and stimulants like Ritalin. I am not discounting their venality, but it is the public performances and the continuing policies - they really seem calm, happy and isn't everything rosy, even when discussing bombing Libya. The see nothing wrong with record bonuses or announcing the best year ever in safety, when their oil rig actually blew up! I just can't believe there isn't something affecting their brains.

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  28. http://www.marketwatch.com/story/gop-proposes-62-trillion-in-spending-cuts-2011-04-05

    Ha ha ha ha ha ha ha

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  29. pforth,

    You aren't the only one here loaded up with miner stocks and getting more and more pissed off by the day. Yesterday was abysmal for many, many gold miners. AUY, HMY, ABX, GG, TRE, AUY-- all down or flat with gold on the verge of breaking out. Silver miners actually performed for the most part. EXK was champ (today too).

    The bottom line, for me, is this: when gold breaks through 1450, the miners will run. And they will run fast with shorts covering. There will be payback for the damage the shorts have inflicted.

    Position yourself for the gold breakthrough. Study the charts and look for set-ups. All hell is going to break loose just as soon as gold makes it move.

    SK

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  30. I love reading your musings Turd.
    It´s your way with words, calling it as it is, with an amazing choice of words, without holding back! :)
    Your short term analyzing(guessing) is the perfect complement to my other readings I do.
    Two times a week I read the International Forecaster for the long term picture(He calls it like it is, also without mincing words, like you), your blog I feel is the perfect complement for me.

    Thank you. Excellent Blog.

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  31. max,
    Great. I did not know bph was in cans. I thought that was just plastic. "/

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  32. The fed and the TBTF banks don't play fair, so why should we. JP Morgue owns Chase Credit Cards. Turd you average like 60,000 hits a day, so maybe that is 20,000 people following you. What if everyone got a Chase credit card and bought 100 ounces of silver. That would take 2,000,000 ounces away from the crimex and the JP Morgue would finance it for us. I checked, they have a 0% down for 12 months.

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  33. SSK,
    I hope you are right re: the miners and golds big move. I agree with you but am getting a little annoyed with all the shorting.

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  34. For those asking about the Chinese guy in Tiananmen Square, it was reported here:

    http://www.theonion.com/articles/chinese-guy-still-insisting-it-was-him-in-front-of,8982/

    For investments, 100% physical 3 parts AG to 1 part AU!

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  35. nice green candles for AG. mmmmm

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  36. sold my exk too cheap today at 10.33 it just hit 10.5 oh well buy again btfd today if there is one

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  37. Chad, the Turd is global. Chase will only give credit cards to U.S. citizens..

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  38. Rachel Corey
    is the name of a American pacifist who tried to stop a bulldozer from demolishing a Palestinian home by acting as a human shield like the young Chinese in Tienanmen
    she was just crushed to death
    the Chinese tanker did stop and tried, as everybody was able to see, to avoid the boy
    so who is the bad guy ?

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  39. I know that Vital Choice tries to go with bpa free cans. Working from memory now, I think a year or so ago they got screwed by a supplier and weren't getting some cans that they thought they were getting, so now they are all over it themselves making sure they get the cans they want, and not just relying on someone elses certification or whatever. Those guys self inspect everything right down to the boat if comes from, procedures at the processor, everything.

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  40. This comment has been removed by the author.

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  41. @ Ginger
    Well, I don't have a little journal, just scraps of paper littering my desk, but I've really admired and been inspired by your sharing with everyone all that you're learning and how you've been doing it. One day in the not so distant future, I too may be looking at trading options....

    In general, just listening to how everyone here is dealing with the pms has been enormously helpful. Sometimes just a push or nudge is all that's needed to move us along. Eric was a godsend when I was thinking about swapping some of my gold for silver and even though I haven't done anything different with our pm miners, with all the yo-yo-ing, etc., community like we have here is always good - especially on the down days. ;)

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  42. Questions for options traders...

    The implied volatility on silver ETFs seems active today. Is this because of the overnight takedown and FUBM?

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  43. Man, this is just easy money. When silver finishes a consolidation period, you just go all in and let it ride. There is no sense in trying to time it when it's on the move because too often the moves upward occur during Asian/European trading. I also prefer to play straight up (paper) silver rather than miners, because of the liquidity aspect and the more predictable price movement.

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  44. Regarding the canned salmon discussion above, those readers who are concerned about the possibility of radiation in food may want to consider stocking up on powdered milk right now. At this point in time, what is on the grocery store shelf was packaged before the tsunami occurred.
    -----------------
    Oh, and Rachel Corey was an idealistic idiot. Big difference between her, and that brave soul who stood up those tanks in Tiananmen Square.

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  45. YESSSSSSSSSSSSSSSSSS


    Run run run motherfracker.

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  46. Good Lord! The spikes to 1440 today are effin ridiculous!!! You dirty slut Blythe.

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  47. Does that thing really say 1444?

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  48. ragedmaximus-

    One of the things I've had to learn (painfully) is that there's always another dip.... :-(

    And regarding your EXK sale, I read somewhere "Nobody ever went broke booking profits". I sold my AGQ yesterday, but am happy for the extra $ in my account, and patiently waiting for the next dip to get back in.

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  49. This comment has been removed by the author.

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  50. Eric, that's some nice looking canned salmon. But am I reading the website correctly? Is it really six 6.3oz cans for $42? That works out to $1.11 per ounce.

    Our supermarket salmon is $2.25 per 14.75oz can, or fifteen cents per ounce. We buy it a case at a time, because our kids go through it as a protein staple.

    The Vital Choice might be a wonderful gourmet treat, but I'd stick with supermarket stuff if I was stocking a pantry for SHTF.

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  51. wow.

    great, gotta step out right now :(

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  52. Crank this mutha...
    http://www.youtube.com/watch?v=3dLAv0NklTg

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  53. Enough with Ron Paul, gasoline storage and the fucking canned salmon, GOLD IS BUSTING OUT!!!!!

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  54. The reason Ginger's post made me think of salmon right away is that wild salmon IS a Pacific Ocean product. Those fish range all over the north Pacific, from Asia to North America. Anything you buy right now will be last summers production. Anything you buy from this coming summer's catch I think is still fine because those fish are already well on their way back to Alaska/BC, etc. Next summer?? Who knows?

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  55. and now silver bumping against 38.80

    aka step #3

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  56. 1444
    The intraday high if last week is 1450 even. Need to best that level next.

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  57. TYF

    I never said it was cheap. I just said it was the best. Those two seldom go together!

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  58. Come on. Kick in the trailing stops. Power up the Commodore 64's. We cannot blow this. Come on gold.

    Kitco shows high of 1445.40.

    More more more

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  59. Irene,
    You are so right.. Lotss of folks on this site have helped me immensely. Most don't even know it. I wouldn't be in options now if not for Turd and his family of Turdinistas! :] ....Can I blame them as well when my options expire worthless? :D

    Mammoth,
    Already on the dried milk train. Been stocking up for 6 months. ...Water purifier and dry milk.. ..Necessary combination.. Thanks for the reminder.. time for more...

    GO GOLD!!!!!

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  60. 'bout frickin time...

    Check out FR's action this AM already - 4.08% to 23.70. sweeeeet - EDR over $10.00 - thanks turd - bought in at $6.00 on your recommend!

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  61. Perhaps those glitchy Kitco prices this morning were a rip in the space time continuum and were actually trades printing FROM THE FUTURE

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  62. Interested to the answer to Dr. Jerome's option question as well..

    Needed to know info, Eric, about the fish probably being ok from this summers catch. ..thanks so much.

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  63. Do you ever get the feeling that a watched pot never boils over?

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  64. Great stuff Turd. I have been trading the volatility and constantly trying to buy weakness. No home runs but I don't care. Looks like Santa could be right, we should know by close today and overnight trading if there is 'Gold Fever!!!!' now overwhelming the cartel's line in the sand in the 140-1444 area. I expect another couple of shots to the body and maybe a haymaker from the Bowel Movement Lady especially once all the players leave for intermission after London close. She likes to come out then and move the goalposts around. Thanks again Turd. There is not a great way to top or bottom call this beauty but there are great opportunities in volatility imo.

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  65. I hate how Gainesville Coins 'pads' the spot price on their homepage. I forget and look at it thinking G&S are higher than they actually are. I guess they do this so that they can charge a few cents more on buys from their site. ...eh.. ..ok.. but a little off-putting so far as trust!

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  66. Gold chart looks like it might be a trace og Blyth's EKG! I think I might be able to jump start my car off it! My stomach is starting to hurt from laughing so much!

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  67. @Darth Smoker

    Was thinking the same thing

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  68. The PM charts are awesome right now. Take down shortly?
    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

    The Saudi Oil Ministers comments on potential $300 oil shows how close they are to battling Iran at some point. It's also a telling statement that they need to telegraph this in the medis. The Saudi's must be very worried that the U.S. will not be there to back them up.
    How could we not?
    The way we keep going after our allies must trouble them to no end.
    We leave the stated enemies of the U.S. alone and we go after former allies (as messed up as they were). What is up with that?

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  69. can somebody tell me until when is GPL going to be stuck at $4.20?!

    It's ridiculous that everything is going up but this stock because the CEO sold shares at $4.20 a week ago!!!

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  70. Once we break 38.80 is next resistance 39-39.20, or do we go straight to 39.50?

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  71. BTW.. be careful when calculating to make your physical buys from Gainesville. For instance.. their spot counter shows gold clearly at more than $1 over the spot price that Turd's counter shows here. ..So, when Gainesville says they only charge a certain premium over spot.. ..well, that is true ..except that you have to factor in that their 'spot price' is actaully set $1+ higher than gold already and at .05 higher than the actual silver spot price. So you are actually paying the stated..say .50 or .75 or $1 or whatever premium they say on the various physical products over spot PLUS their higher spot counter price factored in.

    I order from GC ..but thought all should be aware. ...Maybe most online vendors do this?

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  72. DPH,

    Seems like a divide and conquer strategy...abandon allies, sow discord and chaos off camera, pit Sunni vs Shi'a, play and profit on both sides, control natural resources

    Straight from the tried and true blueprint

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  73. Scottj,
    Are you here? ..Revett is breaking out to new highs!

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  74. @Ginger: What the hell are you talking about? The Kitco ticker that's on this site isn't necessarily accurate. Compare Gainesville's price to APMEX, Provident, or MPMs and you'll see that their prices are the best of those dealers.

    Have you confirmed somehow that their prices are higher or are you just slandering the company on here without any proof?

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  75. @ pforth,

    You have lots of company... IMHO the miners are victims the daily EE activity to hold PM prices down. As a result, investors see PMs "falling off a cliff" as they review the daily charts, and miners suffer even though PM values are actually climbing... it's perception.

    Of course, the shorting games by the hedge funds are a significant fator as well (I think most are familiar with the model).

    I have >50% of my net worth in the miners and getting out has been on my mind as well. However, the hedge funds will move on to the next scam at some time, and gold looks ready to break out (thanks for the analysis Turd) soon, so I think it would be a mistake to bail now.

    Finally, I'm also nervous about the overall market... should it break down (if the PPT should lose control), the miners go with it.

    Remember, no pain, no gain... ain't this fun!

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  76. Ginger

    Last ping on the salmon. Anything you buy anywhere, even your local market, well into 2012 will be either from the 2009, 2010, or 2011 summer harvest. And I have no worries whatsoever on any of those. In fact, the summer 2010 catch was the biggest in years and it will take a long while to clear that inventory.

    Anybody prepping at home, food storage, etc. could do a lot worse than a lot of canned salmon. Whether you buy the cheapies or the top shelf. Nutritionally the Red (Sockeye) is better than the Pink. And the Pink is better than Tuna. You can eat the stuff right out of the can if you have to, and it holds crucial nutrition that is hard to get elsewhere.

    NOW, I agree, enough of that! GO GOLD!!!!!!!

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  77. Holy shit. We've done it. YESSSSSSSS

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  78. Look at her fly. Just breathtaking!

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  79. Fubm. Fubm. Fubm. Fubm. Fubm

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  80. So ... anything happening with the PMs today ? ;-)

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  81. step 3 complete

    all bets off?

    how high is up!

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  82. @ Ginger

    I am here, lacking insightful things to say as I woke up late and have yet to fully wake up.

    Revett is indeed tearing it up, and this is pre-amex exchange listing :). The timing of Revett to the AMEX + Miners exploding (if gold can break 1444+) should make this stock the new "hot pick" if I had to guess, but we will see. It's production isn't that of what Great Panther's was, but its potential is much bigger. The fireworks are about to begin :)

    As for our friends over at the silvermex company, their earnings report is now out of the way and while it doesn't look pretty necessarily, their large cash on hand and resumed production of the La Guitarra Mine should hopefully find friendly light in the investment world for the coming year. We will see what transpires if some of the shorts are forced to back off/cover.

    -
    This is gold's day...

    WOO new highs!

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  83. CNBS Breaking News:

    Spot Gold rises to record High

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  84. Had some daytrades in XAG close at $38.90 (opened at 38.40 and below). Didn't think that would happen today.

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  85. Next stop: Gold 1521

    Silver, who knows.

    SK

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  86. Boys and girls,


    Your next plan of action is to let the algos stuff your portfolio with greenbacks.

    SK

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  87. I gotta admit, a move in gold makes my heart beat faster than anything silver has ever done! ;D

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  88. Folks may enjoy this short clip of the tank man.

    little man vs big machine

    Mario Savio's famous words are just as prevalent today imo.

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  89. Awesome! But what the heck- did I miss some world event or big news ? What precipitated this explosion in PM's?

    Today my heart is glad because my friends on this forum are prospering and profiting- couldn't happen to a nicer group of people. Good on ya, Tudinistas.

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  90. How long before Blythe counter-attacks?

    I love the action, but we're approaching the danger zone of $39 to $40 as per TF's video.

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  91. Well, darn. I've been waiting for a call from my mom's broker to get her out of US T-bills and into pms. I guess we'll just have to wait and BTFD! What a day.

    Word Verification = BLESS

    Even God wants gold to go higher!

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  92. MARAdona,
    I don't think I slandered anyone. I stated what I see and how it appears to me and then asked a question about whether this is standard operating procedure: "Maybe most online vendors do this?" Thank you for your answer ..as it sort of cleared it up. (?)

    Scott,
    Yeah.. I was just looking over that SLX news release. Their day is coming as well!.. For now.. I'll bask in the glow of Revett! :]

    Thanks Eric!!

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  93. sumo,

    it's taken 6 months for this moment. For the love of God, savor the FUBM.

    SK

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  94. This spike in PM's is all the more impressive given the lack of oil movement.
    And given the Saudi's comment on $300 oil it's even more perplexing.
    Could the short money be devoted to oil suppression today and off of the PM's???

    Time will tell IMHO. If the PM's get attacked, watch crude. A very delicate balancing act by the EE and Cartel. They are up against it on all fronts.

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  95. Cutting through $39 like a hot knife through butter. $40 soon.

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  96. 1450 and 39..going once, twice, sold!

    To the generous looking gentleman in the yellow hat

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  97. I suspect this is an oil thing. That's the only thing that really lights a fire under gold these days.

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  98. Lexam VG Gold is pissing me off today. Can't believe I bought that stupid thing. :(

    Tells me I should trust my own kung fu, not Rob McEwen's.


    Did that chart just say 1450?? Holy Schnike's!! THAT's a big round number!!!

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  99. Turd no sooner hit 'send' that the buyers of silver swooped in, and lifted the chart higher. We await Turd's giddy, hand-clapping revision of todays price movement.

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  100. http://cnsnews.com/news/article/march-madness-feds-spent-more-eight-time

    Ouch!

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  101. My miners are just sleeping through this spike in silver. Somebody wake them up and tell them what is going on!

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  102. @sumo
    Blythe counters at standard 12-1:30 for COMEX close. I'm out right now too -booked at 38.95 and need a re-entry.

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  103. somebody's selling PSLV short while buying SLV as ARB play, hoping the premium will fall.

    Not smart

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  104. Attaboy China! Stepping in to buy right after they raise rates. Should be our cue to buy the dip.

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  105. @Ginger

    What kind and where do you purchase your dried milk?

    Thanks

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  106. @Ginger, I'd love to give you the benefit of the doubt but you're clearly slandering Gainesville by asserting that their prices are higher than spot without actually verifying(at least to my knowledge) that what you say has any accuracy.

    Just to help your recollection, read your post against:

    ------

    "be careful when calculating to make your physical buys from Gainesville. For instance.. their spot counter shows gold clearly at more than $1 over the spot price that Turd's counter shows here. ..So, when Gainesville says they only charge a certain premium over spot.. ..well, that is true ..except that you have to factor in that their 'spot price' is actaully set $1+ higher than gold already and at .05 higher than the actual silver spot price. So you are actually paying the stated..say .50 or .75 or $1 or whatever premium they say on the various physical products over spot PLUS their higher spot counter price factored in."

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  107. I'm not selling right now. You have to let these rallies run. Algos going hoopie right now. May be foolish, but I've learned to ride a good run.

    SK

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  108. @Darth. PSLV. We're at record XAG and PSLV is underwater today. BS :)

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  109. T Lane,
    Here: http://beprepared.com/
    ..and just at the regular grocery stores. I've tried the regular Kroger store brand and it is really good ..and less expensive than many of the big name brands.

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  110. How can Sprotts PSLV be down on a day like this? I mean, really?

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  111. MARAdona,
    My apologies to you as I've obviously made you angry with my observations and question.

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  112. Ginger

    My gut tells me that what you see on a kitco chart is the bid, and what you see on a retailer like G'ville is the ask. Not screaming anything nefarious to me.

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  113. Hate to buy at all time highs... but anyways -wonderfull day as TF predicted. I am starting to fear TF, looks like he is using power of VOODOO to screw blythe doll

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  114. SSK

    "going hoopie"

    I like the sound of that. I wanna go hoopie too.

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  115. Pailin: normally I'd try a short XAG/JPY about now, and try to ride it back down a bit, but the JPY is jumps around like a marionette these days, so I'm waiting for a re-entry like you.

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  116. @trollercoaster. Love your comment.

    No worries in 10yrs or so you'll get your price.

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  117. SLW only at 2.34% gain. This guy can put in a 7% day. There is so much more money to be made.

    SK

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  118. I see they are losing their grip on oil as I was writing that oil price post.
    This should get very, very interesting very shortly.

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  119. OMG - I will go back and catch up but holy @^$%$#$%#$39!!!!!!!!!

    My Friday bet isn't looking so silly now!

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  120. SLW and EXK getting some love this morning

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  121. Thanks Eric. I thought Spot was Spot and that Buy/Ask premiums were not actually added to the counter ..but to the actual product listings.

    Geeesh. Didn't know it was such a touchy subject.

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  122. @Ginger, that's all well and fine to post your observation but asserting that a reputable dealer is overcharging is unfair as Gainesville, in my experience, consistently has some of the best prices and best service of any dealer.

    By making the assertion you made you could be driving business away from them and it didn't seem justified. I didn't mean to come down so harsh but felt that what you were doing was unfair...that's all. Let's enjoy this rally now okay? :)

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  123. Scott or others interested in miners, a newsmax pumped stock COYR.OB they are stating great things soon. Looks like a good lull for entry right now, but idk what to really look for. Ideas on it?

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  124. Funny, yesterday and this morning I've been reading negative TA on gold/silver, advise to 'sell below 1424 targeting 1401 for gold, sell around 38.86 for silver' over at ecpulse.com

    I knew they were full of BS with their 'bearish harmonic crab pattern'. Any pattern that you can't spot by just looking at the damn thing isn't a pattern, it's reading tea leaves.

    Happy I haven't sold anything in quite a while.

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  125. @ Pining

    I think the Saudis are starting to really get the jitters and have conveyed as much to the market place (oil may go to $300....)

    Methinks our "Saudi friends" growing lack of confidence in Obama is fundamental. Sinclair just posted yesterday that you cannot turn your back on friends without consequences. Look at Ghaddafi - shaking hands with Obama one day and enemy Numero Uno the next. Obama has even violated the trust of countries friendly to the US around the world - from Poland to England to India. Most recently, it was beyond stunning to see, for example, how quickly the IMF came out and stated unequivocally that Japan was capable of rebuilding on their own and was therefore not to expect help from the IMF. What kind of idiots say that within a week of a global disaster with yet unknown ramifications? That was a direct slap in the face to Japan (and of course the US had to have signed off on that) when they were not only down, but out. I think the Saudis are signaling a lot to the world.

    Drip, drip, drip goes the spout. Our fearless leader is being exposed not only as incompetent and unreliable but dangerous to your existence. Our media may not play that up, but others aren't quite so stupid. Pms are going to be reflect that growing uncertainly.

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  126. Ging

    I"M not touchy about it, but I was sensing some stress in the force, so to speak. In my family I've always been the "peacemaker", so I felt the urge to speak up.

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  127. pforth,

    For miners, yeah they are not making new highs despite AG making new highs.

    But 1 exception is AG (First Majestic). I noticed its relative strength is very much higher than the rest. You may want to switch to this one :)

    Good Luck!

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  128. Enjoy the rally indeed, MARAdona. ..Got it. The only online vendor I've ever ordered from is GC.. so, obviously, I like them well enough. Guess I just didn't understand the counters. Shouldn't have spouted off about it without knowing more.

    Back to your regularly scheduled rally. ;)

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  129. From ZH:

    "Gold Over $1,450, Silver $39

    Nobody could have foreseen this. Nobody. In other news, Ben Bernanke has just ordered an extra absorbent set of Huggies."

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  130. Freakin wild day. Maybe today is a big,big watershed. Maybe GREED starts to stir in the bowels of the public as hapless CD investors dump their safety planes in a spasm of panic and climb into the Gold arena for the ride of their lives. Maybe today will be remembered as the day that Santa ascended to his rightful throne. A subscription newsletter I use was recommending taking out small positions short in GLD as of yesterday. But clearly the top and bottom callers will be phased out of this thing. Best just to play the tremendous volatility and leave the target gamers to their own designs. There is huge power behind this move today. Its like a German guy in a bunker on D-Day early in the morning watching the ships first appear on the horizon. Holy God in Heaven! God only knows where we go from here. Would love a pullback but who knows?

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  131. HUI at 58.59. We've breached Trader Dan's resistance. Miners gonna drink the bubbly today.

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  132. Ginger

    My brother, sister, and Mom were always the flamethrowers. Being the youngest I learned early how to diffuse the situation. Dad was a "big ol' softee teddy bear", but with a nuclear weapon in there somewhere, just like me.

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  133. Happy to pay Telving spot + $3.49 for S.A.E. as He is willing to pay me $2.60 to buy them back and free shipping both ways.

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  134. Turd said
    10:30 EDT UPDATE:
    Gold is rolling.
    Must...
    Break...
    1440...

    Like Hot Radioactive Butter !!!!



    Turd 2012

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  135. Orko and SSL both of which I own+SSL warrants of April 2014 are doing well today. OrKO should be kept for at least 3 months and SSL which is run by ex SLW people and is very tightly held is longer term. SSL will not be as dramatic up or down but will trace gold as it like SLW is a metal stream company. Most people here buy physical but for those who are fed up with their miners these two are worth looking at as ORKO has been kept down and should now enjoy a good run.

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  136. Really, really, really need to get to work now..

    SELL GOLD....BUY SALMON!!!!!! hahaahahahahahahahaha, just kidding!!

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  137. Also on ZH

    Gold For December 2016 Delivery At $1,709.90

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  138. @Irene,

    Obama is a pupet doll, your country is run by goldman sacks and saudis know it

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  139. "Dad was a "big ol' softee teddy bear", but with a nuclear weapon in there somewhere, just like me."

    AH-HA! ..I knew I had you pegged from that thread sometime back. :D ......the apple doesn't fall far...

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  140. @ Irene: Right on! Consequently, the only investments to be in for the next few years are gold, silver, oil and natural gas.

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  141. My winners so far this morning are:
    EXG +5.9%
    UXG +4.6%
    AG +3.6%
    Hell, even NEM is up 3.1%. You know something is happening when that turd is up 3%!

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  142. Wish I had bought a ton more of those May11 SLV calls that I was so worried about over the past weekend.. :D

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  143. Anyway, what happened to that "big player" whose derivative losses went exponential over 36$? That might still be true, but I think entirely too much was made of the influence of that entity.

    Fundamentals are still in place and as bullish as ever. Go PMs!

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  144. Irene- Oil at $300 would cause revolutions around the globe, so I doubt TPTB would allow it, but apparently the noise itself was enough.

    The chart action suggests some big shorts covering, rather than steady buying pressure, so fear is certainly a factor here. The question is whether other shorts will get itchy enough to cover now, as well.

    Dont forget to take your profits and buy at least some physical, folks. I know when you sell your computer screen says "realized gains" but really, it is just 1's and 0's in fiat until you can hold it in your hand.

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  145. The vast majority of USO calls AND put options are in the red right now.
    How can this possibly be with the rhetoric and reality of the MENA?
    The Cartel must be really hard at work there.

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  146. And the US$ looks like shit against the yen, euro and pound.

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  147. Don & Irene

    Practically all I've had since 9/11 has been gold, silver, oil, and natural gas. Before that even. Been doing just fine thank you very much.

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  148. Bleh, after getting tired of those miners not getting along i dumped them, they then moved up 3% minutes later. Hopefully i can buy them back in the dip tomorrow (crude report ?)

    Grtz from belgium

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  149. check the latest update a/o 11:45

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  150. ginger

    yeah, I put that teddy bear part in quotes cuz i knew i stole it from either you or Irene back when we were talking about Abbie's spoon!

    BTW how are you doing on the sterling ebay sales thing?

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  151. Very timely thread, TF. ..Who would ever SKIP your comments? That is why we are all here.

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  152. @Markus

    I was wondering the same.. What about the implications of breaching $36 now that we are even approaching $40.

    Still a lot of miners are lagging... Frustrating!

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  153. My little pet miner Bralorne is leading the pack of my miners today. :O

    With that, I am out the door........



    Word Ver God Says: flows

    It's all about flows!

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  154. Eric,
    I talked with the estate owner this past weekend and actually tried to get him to take back his sterling items. ..Won't do much to help me make $ from his items...BUT..of course you know where I think we are headed with silver so it was my way of trying to start up a conversation with him about all of this. He knows nothing of gold/silver and where all this is headed and said he would think about what I told him. So.. for now, the sterling items are all on hold until he makes up his mind. He also has tons more sterling than what he gave me to sell. I think he was a bit happy to hear what I told him about it. :]

    I still have all of the dishes, linens, books, etc to sell for him. ..Speaking of which.. I need to get to work over here!! !

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  155. @Hank

    The computer glitch at the change to 2000 had a basis in possibility. The (Mayan - I can't speak for the other calenders) has none.

    I personally know Jose and Lloydine Arguelles (sorry on a Windoze box and don't know how to make diacritical marks) and they have changed over the years from kindly/nutty to scary/paranoid. Their followers if they have any (under their new names of Pacal Votan and Bolan Ik) are few if any.

    Even if many people believed this Mayan hosx many would not have survival preparation since it is generally thought to usher in an age of peace and joy OR total annihilation of life on earth neither of which would require any survival effort.

    Just watch: The day will come and go like any Winter Solstice.

    HTH IMO YMMV


    In La'kesh


    Brad (Blue Cosmic Night)

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  156. Waiting for a Comex closing dip to add to some miners.

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  157. Brent now 122.30 for a $14 spread vs WTI.

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  158. @ Pining

    The $300 oil statement was to get everybody's attention. They cannot come out and say, "We have no confidence that President Obama will stay the course and help us against Iran," because that's just not how it's done.

    I think they've got the world's attention now.

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  159. I do read the updates - and I don't know how you resist patting yourself on the back more often!

    Eric - I am a youngest of three and know what you mean about diffusing - sheesch - doing it to this day, along with a little too much enabling, which seems to come with the territory.

    My strategy of doing very little with my investments is working out pretty well. When we simplified, we did it by dumping cash into Sprott vehicles and getting rid of almost all equities and debt, and throwing mad money at the miners. Whew. As to GPL - I don't know, but assume it is still the dilution. I am going with patience, because as soon as I sell, it will skyrocket. It is like a game of chicken and who blinks first.

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  160. C'mon. Time for another $5 push up in gold.

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  161. Be sure to read this:
    http://traderdannorcini.blogspot.com/2011/04/hui-attempting-upside-breakout.html

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  162. Time for Jeff Christian to go on Bubblevision and tell us there is no shortage of silver.

    C'mon Jeff, earn your keep. Wear floppy shoes and the red nose this time.

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  163. Skip your note? Wouldn't dream of it!, but who has the time to catch up on the comments! That's my one regret here. Made a very rare call to try to confirm the counterfeit IBOE's in Italy - I'm beginning to think it might have been an April Fool's joke. Certainly if over a trillion in funny paper were floating between CB's, we (or someone here) would have heard about it, right?

    What's happening to Bernard von NotHaus is not, and the forfeiture hearings started yesterday for who knows how many tons of precious metals... :-(

    Am I still the other Michael

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  164. Wow, most of my miners are in the green over 2%, it feels like last fall, when 1% up was a slow day.... ;-)

    Speaking of flying high, I'm loving watching the eagles hang out in their nest....never got to see an eagle yawn before.... ;-)

    http://www.ustream.tv/decoraheagles

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  165. XAG to the moon (or at least 39.08), PSLV still underwater. HA!

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  166. Just nudging 1450 - this is nuts. Again, even though we have been expecting this and discussing it, it is really exciting. And no, I am not overly exuberant, don't all the 'look out for the dip' people come out of the wood work and chastise my simplistic joy. Just sayin', that gold one minute chart is AWESOME!

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  167. My crystal balls tells me that gold will reach between $1,550 and $1,650 and silver will reach between $45 and $50 on this run.

    Then we'll get a serious pull back which will be a great opportunity to reload the boat.

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