Thursday, April 7, 2011

Can't Wait For Tomorrow

Just had to give you a quick update.

We're really cookin tonight. Led by a WTI crude that is pushing $111, gold and silver are attempting to break out of their 2-day consolidation phase. Silver has already broken the high from Wednesday. Gold will confirm silver by breaking its high from early Thursday.

For all my Austrailian, Kiwi and Far Eastern turdites: Keep the fires burning while we here in the U.S. sleep. The Turd plans on rolling out of the rack a little earlier than usual on Friday. I simply can't wait to sign back in again in the morning. It's going to be a very exciting day. TF


p.s. My friend, Turdle, reminds me that I forgot to include a picture of the dollar. Here you go...

324 comments:

  1. Thank you for a night-time thread!

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  3. Silver will break $40 on April 8, 2011.

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  4. I just bought a silver contract to be part of the $40 cross!

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  5. I have stayed bullish for two main reasons: the fundamentals have gotten stronger and the attacks have gotten weaker. And yes, $50 will be in sight - look at gold! It is going to happen just as anticipated, only maybe faster, which is scary.

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  6. turd, i bot bunch of may 40 calls on your recommendation, great timing.

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  7. Today I picked up 20 Austrian Philharmonics from my local coin shop. They were fully stocked with eagles, maples, branded bars etc...

    Thanks Turd for all you do,,

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  8. Grassy ass .... Turd.

    That is the only Spanish I know ...

    MR

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  10. James - unfortunately, I think you are too late to enter the betting. I have tomorrow, but tonight might win. I don't think anyone picked today but I think my tomorrow is looking better and better.

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  11. "Glug, Glug"
    -Blythe
    (translation: "Fine for you TF, but will there be a tomorrow for me?")

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  12. It's hard to think of what could pull oil down right now...What a tidy setup we're getting right at $40

    Long and strong May and always pack powder

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  13. damn Turd it looks like TSHTF pretty soon

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  14. Money is debt, a promise of value.

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  15. I'm sure Turd meant to mention the POSX action, but must have missed in in the excitement of the moment

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  16. When should I sell my last four equities, all held on the tsx and canadian companies? It will follow the Dow, and I am getting nervous. Someone posted the other day postulating that a govt shutdown would be positive (?) for the dollar. Wouldn't it be more bad news for the dollar?

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  17. Xty: we're friends, right?

    don't flinch, don't run at the first sign of smoke

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  18. Xty,

    There's not much left that's good for the dollar. The charade is long in the tooth

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  19. Dang it. $US dropping so fast that gold price in my currency is below yesterday at this time!

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  20. I'm not an NZ Kiwi, I'm a NJ Kiwi, but I'm not sure I'm going to sleep anytime soon....how totally cool! And here I was feeling sorry about the AGQ and EXK I bought today....not sorry now...woo hoo!

    So, is it the budget impass or the imminent US "boots on the ground" in Libya which is causing this? Or just the usual ongoing crash of western civilization?

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  21. Wow...BLYBLY.
    I can't help but wonder if TF has anything to do with these word ver's.
    I may have you beat with "turdsman"
    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

    I am so glad I jumped back into the market today. Can't wait for tomorrow also...$40 Friday looks like a gimme at this point and everything of importance that is supportive of PM's is looking good in my opinion.
    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
    Piano Racer... I would never tell anyone you hold it personally. Buying and telling is one thing but disclosing you actually hold it is another. Trust no one. Desperate times will breed desperate people.
    Make sure you make it really clear it's in a safety deposit box etc. and you would never think of keeping it home.
    Maybe I misunderstood you, probably so.

    Long day and wound up over here thinking about tomorrow.

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  22. Real silver price is already over $51!

    http://silverdoctors.blogspot.com/2011/04/real-price-of-silver-5165oz.html#more

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  23. Can silver wait 'till midnight?

    I am pumped. But another thought about my persistent bullishness - I have tried very hard not to be over come by greed or even more tempting being over come by the desire to argue with trolls. The bearish argument has been made well by some posters, but when silver was doing well awhile back, there were always scaremongers and it was fun to bait them - but pointless and I knew I would shoot my mouth off. But I am wiser than I once was, and I have skin in the game, so I couldn't just be argumentative for fun. I had to be sure I was right. And with Turd's analysis and the excellent group here, I was pretty sure. Now holding forty is another matter and some profit taking would seem likely. But not by me, not yet.

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  24. U.S. Government Shutdown 2011, What You Need To Know

    http://www.marketoracle.co.uk/Article27424.html

    Sure looks like a real standoff in D.C. Both sides pointing water pistols at each other. However, nothing will come of a shutdown or compromise with regard to a meaningful cut in the Federal deficit.

    The last line says it all:

    "The U.S. financial system is dying, and nothing that the Republicans or the Democrats are doing right now is going to change that."

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  25. Turd - "The Turd plans on rolling out of the rack a little earliet than usual on Friday"

    Hell, I'm tempted to overdose on caffeine and watch the action all night/early morning long.

    Turdle, with all the wild world events going on, the threat of govt shutdown, etc, I figured the VIX would jump up this week. My VXX trade ($28.86) went positive again today, but only for a moment. After your words of wisdom, I may just get out of trade tomorrow.

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  26. Interesting that gold and silver up by about the same in % terms today (Asian day). Silver usually up by about 2x gold. $40 round number holding back silver, or are we seeing strong safe-haven buying of gold, with silver tagging along? Who cares what the reasons are, enjoy!

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  27. I'm reading "Reminiscences of a Stock Operator" by Edwin Lefevre this evening, seems appropriate to the moment, and it's a fun read.....the main character (whom I understand was patterned after an actual speculator) is totally whack (and not in a good way)....although losing all your money (as he does several times) may be a wonderful learning moment, I hope to avoid that particular lesson.... :-p

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  28. Kiwi...I think it's all of that and then some.

    This Govt. shutdown is going to be far more imopactful then just the few days or whatever it finally takes to resolve it. The last thing the PO$X needs is all eyes trained on our inability to accomplish a basic thing most Govt.'s do all the time...pass a friggin' budget.
    They are playing with fire and they don't even know it...at least I hope they aren't doing this on purpose. They've lost control and have no idea what to do is my thought.

    Maybe if they all invested in PM's and read TF's blog they would be happier and more productive...yes?

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  29. Turdle, I've updated just for you.

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  30. Looks like my inside bet with my family is coming true. That freaks them out because they don't necessarily want to think the other things I say are true!

    $50 Physical Silver by April 2010
    From the two days before the Turd's Bottom!
    http://thehardrightedge.com/50-physical-silver-by-april-2011/

    The article is outdated but what I would really like to say is I agree with the philosophy that the physical price sets the floor for the price. The physical market is taking over the price... and what this means is Blythe becomes more and more irrelevant.

    Only thing to watch out for is this major liquidity crisis.

    My take is that the Fed won't let the market crash... not after all of the hard work they have put into it. Lindsey williams says the market will keep going up up up up up until everyone is sucked in it and then crash.

    I don't think the FED is in a position to let QE III be delayed. If indeed they stalled it and said the economy is fixed and then the market tanked due to the lack of liquidity (since the fed is the market), I don't think they would be allowed to start up QE III again.

    The amount of effort they have put into propping the markets up only to let it fall and then attemmpt to re-prop them with the same policy doesn't seem like the FED's playbook to me. Remember, the name of the game is perception.

    If the FED has any chance at convincing the people (and the world remember), that their policies are working... they will have to show something that is succeeding. That something is the DOW.... it is the only thing they have left.

    Something seems very planned about the timing of the markets being at this inflexion point and the government shutting down and every country at war with each other.... Make no mistake, they are in control still (while it is fading due to the amount of truth spreading).

    My gut tells me that they are going to pony up to some of the inflation now and let the gravy train keep rolling like nothing is wrong. They will blame it on the natural events and say that their new stimulus packages will help equalize rising costs.

    Anyways... just rambling

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  31. Been liquidating a series of savings bonds left to me by my grandparents. Money that has been used to fuel a spread of silver investments.

    And as I reflected on it today, it struck me as sad and even tragic event.

    When purchased nearly 30 years ago, these savings bonds had given wealth and stability to my grandparents in their old age... a trustworthy safe harbor to park a lifetime of hard work.

    And here I was, not a generation later, trying to dump them like radioactive sludge on the cusp of a dollar breakdown.

    How sad to see that trust betrayed. It is probably for the best that my grandparents did not live to see any of this.

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  32. @Xty Your thoughts are moving in the direction of trading.

    If it is less than 20% of your portfolio then perhaps think of it as kind of a hedge. If you lose 20% of 20% that's only 4%. Something weird can always happen and should there be an upset you might want/need to sell later (eg if PM's pull back before the stock market fails)

    I think we all need someone else to remind us.

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  33. Turd:

    "Oh the humanity!"

    Sit tight and be right...Jesse

    Sleep tight knowing you're right...Bill

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  34. Kiwi,
    it's about Jesse Livermore. If you can live the lessons of that book then there's probably no other trading book that you need ever read.

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  35. oldNavy,

    (from the end of last thread concerning the killings in Yakima/West Valley mentioned by oldNavy)

    That's horrific news. And apparently the perp lived within walking distance of the victims. I had to look this up since I have close friends that live in the "Palm Springs of Washington". We just usually referred to the place as Yakitucky (affectionately!).

    You can't be too careful, so please be wise when discussing PMs with family and friends.

    LINK: http://www.yakima-herald.com/stories/2011/03/02/arrest-made-in-west-valley-triple-homicide

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  36. DPH - I think Turdsmen will never be beaten. But BlyBly just makes me want to sing, 'Bly bly black bird'.

    Kiwi - I think you are right with this excellent insight:

    "Or just the usual ongoing crash of western civilization?" You made me laugh at disaster, always fun.

    And Jake, we are friends, despite your attempts to thwart it. Yeah, I don't want to miss this silly rise, and I get stodgy dividends. And I know some did, but I couldn't just put it all on silver - too disruptive of our lives - but we did go pretty far in, and had to sign special risk forms with our broker - and he doesn't know the whole picture.

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  37. Turd,
    thanks for the POSX chart. Priceless!

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  38. Xty,
    Sorry. But I think you're gonna lose. But of course we're pretty much all gonna win.

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  39. A picture of the Hindenberg??? LMAO!

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  40. Can;t sleep...thought I'd take a look. 40 just appeared at the top of my chart. .09 to go!

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  41. And for our U.S. viewers...
    Time to scour the interwebs and watch the show.
    Being a veteran of hurricane prep, I believe this link may be helpful to many of you.

    http://www.survivaldigest.com/cat/teotwawki/

    Scroll down a bit on this page and you'll find 100 items to have in prep.
    My tribe is prepared for the worst and truly hoping for the best.
    My heart goes out to many of you who are working very hard to hold things together.
    Take heart in knowing that you will be better prepared than most, and will convert others over time. This is likely to happen slower than many are predicting, and is a good thing for all of us.
    We are simply buying food and money. Fantastic risk management strategy.
    We are the new breed of investor...the practical ones. More and more will follow our lead. Peace.

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  42. Just wanted to pop in before I go to bed that it was good to spend part of the day with you all here. This is still my favorite place to hang out on the internet. Don't be afraid to swing by my blog and say hi when you get a chance. =)

    Yukon

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  43. Oh baby! I just got a bag of $100 face silver quarters. Counted them out and actually have $104.5 face... what a happy surprise! It went up over $400 in intrinsic value since I placed the online order for it... gotta love that.

    I'm pissed that PSLV isn't holding its 20% premium right now. I'm not selling it though, thats silly. If you need silver vaulted while you take physical delivery, PSLV and CEF are the way to go to hedge while you take delivery. I'm sure the NAV will continue to improve as silver continues its march upward.

    If we ever see a large dip again, say to $30-35... I have far more than enough fiat sidelined that I'll be literally backing up the truck to take delivery. Might need a forklift.

    These are exciting times my friends. As always, I advocate hedging your long positions, so if we do get a decent or large pullback you'll have plenty of fiat to buy more physical.

    $39.88 and rising. $40 can be hit within the hour :)

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  44. Anyone ready to pop a bottle of anything because $40's coming quick!


    Wow, my word ver was just ...nonkeg...how ironic

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  45. I'm in Singapore and I'm burning the Turdite fires over here.

    The silver story has come to the FRONT PAGE of our local daily newspaper. There is a big commodities conference here as well and the star story is also gold and silver.

    I still consider this merely the awareness phase however and am keeping my guard up at all times.

    Meanwhile my trading account is cooking some sweet stew and I stand ready to add sizable positions on pullbacks.

    JoeKa out.

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  46. Well we are at that breakout point for gold....

    Surely it can't just keep going straight up...
    Will it? :)

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  47. Xty, "money is debt, a promise of value" and then you ask about when to get out of equities? Ah come on... those of us with skin in the inflation (or default) game have been out of equities for a long time. The only time we dabble in that stuff is to make leveraged plays or to hedge physical inventory.

    Anything dependent on economic stability should be sold immediately. That includes aerospace and defense contractors, because when bills don't get paid ... even they go down in value. Get out of equities now.

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  48. B, i just got $100 face value silver too! What a great day! Hard to sleep right now with 40 looming..

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  49. Like New Year's Eve, how exciting! For 50, Turd's new site needs a big countdown and a ball drop....

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  50. Apples - something like that happened in my husbands family, involving a trust set in place by his great grandfather. So sad indeed - an investment made to preserve wealth and it was mostly abused by the bank that held it and impossible to get from them. It made 3% in 1980, when interest rates were 20%.

    Happy - you are right that I should think of it as a hedge, and hang in there.

    I cannot believe I am so close in my wager - I wasn't being serious, really. Thought it would take at least another week. 10 cents and 45 minutes!

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  51. Do u have Silvation my Bruthas and Sistas?

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  52. I don't own any defense contractors and I don't have all my eggs in one basket, for good and bad reasons. And I don't know what you mean by your tone, and the 'those of us' comment. Am I the only one here who owns any equities? And money is debt - and I still think they have value.

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  53. APMEX's site is quoting over $40.02 ask price right now

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  54. Spencer and Kiwi... apparently, at least for now, we were geniuses with our AGQ buys today!

    ... let's see what the morning brings here in the US... I know I'll be tempted to dump all or most of it at the open if there has not been a beat down at that time, but I'm going to fight that urge and try to ride it up. Just hate that this is happening going into a weekend.

    Word verification: "sweetemo"

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  55. DPH - nonkeg - I think that it a sign.

    39.95 23:24

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  56. $40.03 at Gainesville.

    But. ..uh.. I won't necessarily go there.

    :D

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  57. Xty: almost $40!!!

    and I would do nothing to thwart us!

    :-/

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  58. Xty, I didn't mean to have tone. I know you're as much of a trooper here as most others (if not more so), I just find it strange that you'd ask what sounds like to me such a silly question. I'm a true believer that the fiat will fail and ownership rights in whats left of the markets will be questioned one day down the road.

    Remember, the majority of people don't have any direct investments in the equities markets and most people despise wall street. In the event of a major economic doomsday scenario, chances are that people will (actually the powers that be will) torch the records vaults at the DTCC... We all know what happened to WTC-7... it is a fact that someone wanted it destroyed and it wasn't the foreign terrorists, that one was very much a domestically caused building collapse.

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  59. I'm watching the live quotes, and man, it's bouncing around, occasional asks at the magic number.

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  60. The POSX is toastier than toast - last at 75.314

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  61. @Ginger, i thought you really liked Gainesville?

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  62. I am watching Netdania. 39.9390 23:27

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  63. Ok, look for the takedown now. I was filled at 39.99 lol!

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  64. Okay. Looks like $40 has been breached. Time to devise a new trading plan for tomorrow. :(

    I mean :))

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  65. Dollar in the shitcan :(
    75.33 and not exactly looking strong...

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

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  66. Xty, I still have 25% in general equities. Have to say as each week passes the % goes down haha it is taking care of itself.

    Also remember we're not in the USA and see less impact of the PM price relative to the $US (eg gold isn't at a new record for us this minute) and although not immune the fact is we're not facing for instance a government shutdown and the form the hurt takes here will be somewhat different.

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  67. Our newsradio station in a MAJOR urban metropolitan area just added the daily silver price to their twice-hourly business report, since this Monday. The previously reported Dow, Nasdaq, s&p, and gold. Now they're reporting silver too.

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  68. The highest I saw on the kitco bid was 39.99. Kitco also says there was a high of 40.02. I assume that was on the ask.

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  69. some say the forces in effect are far reaching and global

    some say there is a last ditch hail Mary attempt in progress to re-boot the system, effect a jubilee, get things to a reset

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  70. trashcan,
    I do! ..They are great and I have bought all my physical from them. ..I was only alluding to my comment the other day about Gainesville's spot counter seeming (TO ME) to be set higher than most other counters. Got called on my post because of unfairly slandering G'ville. ..I was just making light of that just now.

    G'ville is as good a place as any to BTD! :] ....And if you want to feel really good about your PMs prices rising....just take a look at their counter!

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  71. no spot transactions done at $40 or above yet

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  72. I have a print on the May contract of $40.005

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  73. I can confirm a 40.02 ask. Damnit I wish I had a bloomberg terminal here...

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  74. Eric#1

    I see a high of 40 on

    http://www.sgxniftydowfutureslive.com/index_files/DOWFUTURES.htm

    But as you said, it might be the ask.

    And I guess it's not official til we see it on the Kitco Turd Chart ;-)

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  75. Gonna sit here and watch history as Silver crosses over 40 tonight. Cheers.

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  76. Gainesville's ask is always $0.04 over kitco.

    And just for the record WHY IS THE COUNTRY IMPLODING AT MIDNIGHT SHOULDN'T THIS HAPPEN IN THE MIDDLE OF THE DAY oh my god some people are not going to get themselves out of bed tomorrow I tell you what.

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  77. B alls cool - I don't have a lot left. There was a debate earlier about what is money that I was chiming in on. The two things were not directly linked in my mind.

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  78. Did we officially hit $40...kind of excruciating at 39.99

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  79. Aren't you supposed to be in bed, Young Turd?

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  80. There will be a raid when Congress pass the budget over weekend. USDX will pop. It'll be a good opportunity to buy the dip.

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  81. Global TV Evening news in Canukistan now reporting silver price along with gold, oil etc.

    We were out for dinner tonight with my inlaws at a local English stlye fish and chips restaraunt. My father in law almost choked when he saw the price of silver pop up on the screen - he had advised me several months ago to sell my physical and mining shares as his advisor had "advised" him that silver was "in a bubble" and the price was unsustainable. That was at $30.00 spot. I didn't have the heart to ask him if he any PM's or stocks.

    He paid for dinner :-)

    HI HO SILVER!!!

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  82. The day that silver moves $10 in an hour is the day I quit my job and move to a more secure location.

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  83. For the childish wager, I think we will have to go with Turd's chart. But as I say, I am glued to netdania.

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  84. Pablo,

    We haven't imploded yet. This is just one of a series of events. TPTB have plenty of duct tape, baling wire and lipstick to put on the pig for a while longer. All's well for us that are on the good side.

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  85. DPH I am not calling it official yet. Need to see it on Forex.

    Happy - I am about the same, and as you say, a naturally dwindling portion of the portfolio.

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  86. You gotta just love how our "leaders" (gag) make the most important decisions at the last moment and in a very hasty way.
    Anyone here think they will actually read the budget measure in it's entirety?
    Didn't think so.


    Did we hit $40 yet or what...how excruciating is this?

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  87. Dammit, I'm trying to do some DD on a stock, and I gotta stop every 2 seconds and update a GD silver page! Let's get this over with already!

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  88. POSX just fell below resistance, 75.22, ye olde ship is taking on water on fast.

    Bennochio last seen heading to the janitors closet in search of duct tape and a mop.

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  89. $39.97 approaching $40.Must be a raid imminent at $40.US $ being carried out on a stretcher as we speak.

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  90. If it busts forty I am going to celebrate by eating some of those tasty looking gold and silver wrapped... errr... maybe not.

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  91. No, DarkPurple ..It has to be passed first... then read. It's the new normal.

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  92. Isn't this just the start of The Battle of $40 Silver?

    We're not going to just blow through $40 and head to $45, are we?

    BTW: I have $40.005 on Comex May contrat. It seems the Kitco spot price did not hit $40 (as far as I can tell).

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  93. Has anybody done business with http://goldsilver.com/ Mike Maloney's outfit.

    I'm considering adding a few Silver Eagles just to be able get his "insider" reports. He'll be tracking silver and gold and providing an exit strategy....

    I feel it would be good to have some handholding...new and have been worried about all this at the end....Know about the ratios, but I think there are other factors that might make some guidance worthwhile...

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  94. bbdgoco?
    I am so abbreviated out at this pont...help!

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  95. Eric - not for another 15 minutes. All my fault.

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  96. This comment has been removed by the author.

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  97. This bird's gotta go to the bathroom... don't let anything happen while I'm gone.... ;-)

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  98. I really like Netdania, though 39.9654 is about the highest it has shown in the last few moments. I have the Kitco firefox add-on that shows at the bottom of my browser, updates every minute, and I did see it show 39.99 once.

    Now that you guys told me about netdania, I'm glued to it!

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  99. huge volume spike out of nowhere...hmmmm

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  100. Ahh...now I see.
    Go rent the movie McGruber or watch Saturday Night Live skits of him.

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  101. @Titus - I thot the battle for $40 Silver was what was playing out the past couple days?

    I could be wrong but perhaps that battle is now over and the next whole number $41 is in firm sight.

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  102. I actually think it is going to wobble here for awhile, maybe days. But we keep blasting through, and struggling with levels for minutes, sometimes even hours - it could just shoot to $50, as gold goes to $1600. Highly possible. (Didn't someone say I would be calling for $50 soon?)

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  103. Dark Purple Haze

    ah ok, thanks, I'll check it out.

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  104. Santa says "The System Has Failed"

    http://jsmineset.com/2011/04/07/the-system-has-failed/

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  105. bbdgoco,

    Here's McGruber:

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

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  106. Does anyone here (who has a job) think they would still have it if they were half a year late on delivering an annual budget??

    BTW the US fiscal year was moved from JUL to OCT in 1975 - so they could pass the budget on time.

    Pitiful.

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  107. As the mutinous crew left the sinking ship in their droves heading for the local Coin shop looking for safety and stability,only Captain Damon and First Mate Masters were manning the pumps as Admiral Bernanke stayed in his cabin with his head in a book about instant miracles gibbering about how the loss of the USS Weimar would be taken on Wall Street,his only comfort was knowing full well the truth would never be told to the sheeple.Admiral of the Fleet Obama was nowhere to be seen as usual.

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  108. There was a classic TV show called MacIver about this guy who could get out of a locked meat-freezer that was about to explode and all he would have would be a safety pin, an elastic and a jar of jam. And then SNL started doing hilarious (but very rude) takeoffs, that spun into a movie. 12 year-old bathroom humour, but I have teenagers and have failed to mature significantly.

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  109. Boy, it was just March 15th and we were at $34.25 at one point and now look where we are...impressive.

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  110. Whoa seriously the bottom has really fallen out of the POSX - last at 75.248

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  111. Silver may not have kissed the sky just yet, but it certainly did pucker up for a good smooch.

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  112. Admiral of the Fleet was later seen, golfing in Venezuela. When asked about world affairs, he looked startled for a moment, and then looked annoyed. Tossing aside his cigarette, he then asked for a donation.

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  113. DarkPurpleHaze

    As they say here in the South, "Yeah, Buddy!"

    Verif word: singit (Yeah, Buddy!)

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  114. See Trader Dan's USDX chart. We must be right at that red line intra-day support that he marked.

    (word verification: redso. freaky)

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  115. You forget your place OldNavy. Our government officials are the bosses. We are the employees. ... wait ..

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  116. JoeKa,

    Could be.

    With oil rising, dollar dropping, gold just past the $1444 Angel, civil war flaming throughout the ME, ... seems like the perfect storm.

    But I think longs are going to stop and think a bit, and the EE is going to fight a bit.

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  117. It's nice to know I'm not the only crazy person up staring at a chart..

    Where will the USDX stop falling.. or will it?

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  118. SilverRunNW, xty, DeepPurpleHaze

    Just watched it. lol I do remember MacIver. Used watch SNL every week but haven't seen it since the 20th century.

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  119. @ Xty

    Each person has their own journey's and meaning. Do as you think you should and you will be fine. For as much as I realize the ultimate doom for my fiat positions, there is a run-up that I am going to be apart of. End game physical will be the only thing that matters, but until then I am attempting to amass a good amount to then use to fund myself for whatever I choose to focus my time on (probably political).

    As far as people saying that politics is hopeless and the dollar is doomed, yes you are right.

    However, these are the current means to the world. There are others out there that will be in a much worse situation than I will ever be, as well as current days. For me, in the coming days it is important that as many can be reached be attempted to be reached. It has not worked in the past, but I think these days are different.

    Currently I am 66% leveraged in mining stocks compared to physical for my portfolio. However, I am young and gambling my way through the end of the dollar currency. I would not recommend my choices for everyone, as I am willing to lose it all (in the final crash?), as I am in a more unique situation never entering the workforce and having such an opportunity and the type of situation I was presented with.

    Do not doubt your plan, as long as your plan takes you to a peace of mind. You are well on your way to the most prepared you can be, and don't feel like a sucker for making any decision. Understand the risks, understand what you are looking for, understand what the opportunity costs are... and enjoy life :)
    -

    What I am trying to really say is...
    Everyone's situation is different, I am sure you have your's under control. You are in the right perspective for you.
    -
    Scott

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  120. OK, I'm back, did I miss anything?

    I also set up a tumbler of single malt scotch from the highlands, where my ancestors were driven off the land by the scottish lords, who found it was more profitable to raise sheep than let their tenants grow crops.

    I think we find ourselves in a similar situation, our self-appointed lords and masters find it easier to directly enrich themselves than to let the citizens create wealth through their labor.

    So here's a glass to the coming 40, and a glass to Turd, and to our merry band of silver brothers and sisters, sheep we will never be!

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  121. Of couse with the US$ tanking at warp factor 9 and no Scottie in the engine room Admiral of the Fleet Obama naturally asked for all donations to be in hard physical Gold and Silver with none of that Fiat crap.

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  122. POSX(USD) last of 75.24. Hasn't been this low since Jan 2010.....


    BTW, been here since the first week. Followed turd from ZH. First time posting Great site Turd, and great community.

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  123. Holy crap! I know I'm late to the party, but I just hopped back on the computer for the first time since earlier this evening, you silver freaks have been busy snatching up the shiny stuff! Time to party like it's 199....I mean $39.99!!!! -.45% for the dollar, buh-bye now!!!

    I hope the miners follow suit if these keeps up through tomorrow. My dream from Sunday night looks to actually play out by closing tomorrow, that is awesome!

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  124. By the way my end game is end of 2012.

    No more dollar by then... but hopefully that will be our only problem.... I will re-evaluate my life on January 1st, 2013 if we are still standing tall in civilization.. lol but seriously :(

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  125. Bad fuckin juju- look I'm glad i just had another 100 ASE delivered, and 3 gold eagles en route, but this dollar debacle sucks for 99% of our country.

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  126. Thanks for everything Turd.

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  127. Okay, shipmates, time for this old sea dog to turn in. Stand a taught watch. I'll see if we've crossed latitude 40N by morning.

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  128. yawn...completetly bleary eyed, long day at the office here...GoodNite, all.

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  129. Never forget why you're buying PM's.

    Never forget these profits we see are priced in paper.

    Never forget the paper can and will become worth what it truely is........nothing.

    The end of this system is what we're protecting ourselves from.

    The traders here will profit more than those of us with a little less to gamble. That's okay. I don't think it's about getting rich for most of us.

    I think it's about making it. Maybe it's about being there for someone we love who doesn't get it.

    Maybe it's about being there for someone who doesn't want to get it.

    Maybe it's about somebody that you love and they're so fucking buried in debt and you know they're screwed.

    Maybe you can't tell them what's coming down the pipe because they have no means to protect themselves.

    Maybe it's about being there when you need to be.

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  130. "I think we find ourselves in a similar situation, our self-appointed lords and masters find it easier to directly enrich themselves than to let the citizens create wealth through their labor. "

    kiwi,
    You apparently don't know your place either. You don't deserve wealth, you silly bird. You don't even deserve to keep a paltry amount of what you labor to earn. You owe it all to the slavemasters who allow you to keep anything at all. Anything you could ever hope to earn is rightfully theirs because they know better. And it wouldn't be fair to those who didn't work or were down on their luck if you had more than they. Be glad you have TPTB to look out for you. They know what is best for you ..not you. You sound a tad ungrateful.

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  131. One last thing for your consumption...

    SYDNEY (MarketWatch) -- Oil futures climbed over $111 a barrel in Nymex electronic trading, recently trading up 76 cents at $111.06 a barrel in Asian hours midday Friday. It closed at a 30-month high in regular trading in New York on Thursday. "We think markets are somewhat confused as to what is going on with Saudi production and whether, in fact, it is being ramped up to the full extent possible in order to offset the Libyan production shortfall," said energy analysts at MF Global. "Until more data comes in, we suspect the markets will be relatively well-bid for at least several more weeks to come," they said.

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  132. Lump,

    Well said Bro. This aint gonna end well for anybody; just protect yourself, and your extended family

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  133. Think about it:

    $20: silver was a battle that took years.

    $30: silver is the closest thing we've had to a "pull back" over the last 8 months.

    $40: no fight?

    I think there will be a fight.

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  134. Man, the POSX looks like it's circling the drain for real. I have a sneaking suspicion that a confluence of events will cause a reversal in this trend (of a temporary nature, to be sure) shortly.

    When the ME blows up, or the Fed gives the "there will be no QE3" headfake, some investors might come back to the dollar for old time's sake, giving it a lift. After that, uh...well...hmmmm...

    I can't imagine that the POSX won't get at least one more sentimental bounce, even if it's a few old algo's programmed in FORTRAN that haven't been updated.

    Beyond that, as Turd said "there be dragons."

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  135. well said Lumpyshorts and Ginger. Dang, the wise and contemplative ones ply the boards at the late hours.

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  136. @ Titus

    If there is no fight (or not a significant one at least), I think the pattern you just laid out shows the diminishing control of the silver (& by relation gold) markets.

    This is an exponential increase remember, this is about the dying US Dollar. I bet you we spend less time in the 40s than we did in the 30s. Just a guess, but would sure make you look forward to the 50-60 range and onwards...

    No seasonal pullbacks in my sight...
    I am a Chicago BULLS fan though...

    Seriously now, Derick Rose is a freak of nature when it comes to basketball talent

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  137. My XAG trades yesterday closed green in Asian trading session. Too bad they were small positions.

    Have to load up on caffeine in a few hours and see what the London Morgue (JPMorgue) does.

    Damn it Blythe, throw your best punch.

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  138. Just bought 3000 dollars worth of silver from China's ICBC. maybe that will push the price up by .0000001% Every little bit counts. Let's decimate Blythe.

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  139. I now have 400 ounces. 1000 I'm gunning for you.

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  140. Ginger-

    Ungrateful? Damn straight.... and angry as hell. I shouldn't have to be sweating PM trades every day to try to build up a retirement fund, knowing that social security raped my paycheck but won't give me a dime.... in a rational financial world, I could put my money in a savings account or a CD or some nice blue-chip stock and I'd have my nest feathered for my old age ... In a rational world, my country wouldn't be attacking weak nations on even weaker excuses. Yeah, I'm angry the world I grew up in is gone, and what's replacing it is going to be far uglier and less rational than even the madness we are going through now.

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  141. Jesse's on the money:

    http://jessescrossroadscafe.blogspot.com/2011/04/sp-500-and-ndx-futures-daily-charts_07.html

    "Looked a little wobbly in a relatively wide ranging, low volume day.

    The wiseguys are the primarily the ones trading in this market, selling shares back and forth to one another in a Ponzi like manner, and using positioning advantage to skin any specs brave enough to venture in for a trade.

    That is why it has a bias to drift higher when nothing happens, but is still a tough market for a non-professional without insider knowledge and tools.

    At the first serious whiff of smoke, they will hit the exits and these markets will break hard and fast to the downside. But that's just my opinion and I could be wrong.

    There is no sustainable economic recovery. This is opera buffa, a stage managed farce run by the one percent, and for the one percent."


    Not too late to load up on cheap Jan12 SPY and APPL otm puts.

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  142. Ladies and Gentlemen, Turds and Turdsters,

    Am happy to announce the arrival of $40 SILVER!

    You guys in the US can go to bed now. We have things under control over here.

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  143. I think we just busted 40. Can anyone confirm?

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  144. We have lift off!I saw it. $40.01

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  145. Viva Silver! now why did i sell calls against my AGQ about $8 ago? :-( I thought i'd protect the gains after so fast/so much. i know there's ups and downs in this thing, we'll see what happens Monday. Blythe is out there.

    For those of you following mr SilverGoldSilver, we have Kid Dynamite and Brian vs SGS over at Harvey's tonight. I do wonder about shortages and the inventories of GLD/SLV - shenanigans no doubt but to what degree? Will never know til the end. Physical trumps all...

    "Gold is money, everything else is credit." JPMorgan

    p.s. Turd - your posts have been amazing - Eureka moments for many! You created an easy to understand picture of how the markets really work and it's actually worked for my lame ira account!

    p.p.s. the bernank will print moar.

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  146. XTY - hope you don't mind but I copied you and posted a picture of one of my favorite people as my icon. Her name is Casey.

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  147. www.kitcosilver.com
    Bid 39.97
    Ask 40.01
    Low 39.88
    High 40.03

    30 day change 10.63%
    1 year change 121.32%

    >>>>>>>>>>>>>>>>><<<<<<<<<<<<<<<<<<

    Anyone else want to go to the local JPMorgue, HSBC, Citi-dump, BoA, or WeFartOh, withdraw $25,000 and go cash in hand to your local coin shop to wipe out their gold and silver coinage?

    LOL

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  148. ok Mr Sulu Turdle GG, you have the helm, steady as she goes. Warp factor 1 to 50.

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  149. Pop! Fizzz.... glub glub glub.... ahhhhh!!!

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  150. Enjoyed all the comments tonight. Time to pack it in for the night.

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  151. Well... this has been fun folks but the missus is callin and I'm off! G'night!

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  152. That's some good volume on the Hong Kong exchange you're generating over there Turdle.

    Maybe I won't trade in one of my silver bars for a few of the new gold sovereigns.

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  153. I saw 40! I'm going to tip a short one in a toast to all you guys, and go to bed.

    We may have to battle over this same ground for a while.

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  154. @Flagg and @Sumo-
    Well, here we are at $40.
    Makes you wonder when Blythe and her monkeys will start showing up with the banana peels.

    I don't think JPM has much power to back their short position compared to the massive amount of global demand for physical.

    So, do we end the week at >$40 USD?

    I say yes.

    The correction will come in 20 days.

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  155. I see $39.99 but not $40.00 (bid not ask, as per netdania http://www.netdania.com/Products/live-streaming-currency-rates-foreign-exchange/real-time-quotes/QuoteList.aspx).

    I'm confused.

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  156. Your right Irene - didn't happen on netdania.

    They keep pushing it back down when it hits 39.99

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  157. I too saw 39.99 - but I will take it! Unbelievable. Rigged of course.

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  158. Irene,
    FX markets are inter-bank, there's no one official market. So, there can be differences of a cent or two here or there, depending on which banks' quotes are being aggregated and displayed by your broker. Spot price from my broker showed a few trades at $40.00. Kitco showed up to $40.01. What that means is that someone, somewhere bought silver for $40.0x.

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  159. Scott - politics will never die, and I think you have a strong future in same.

    Swampfox - Casey is adorable.

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  160. I know for sure the 3 day kitco bid chart said 40.01 at a time stamp of 00:42. I wrote it down. I should have taken a screenshot though because now it's back to 39.95.

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  161. Wow, what a night... this bird's off to nest. Thanks all for the company, and thanks to you Turd for providing the clubhouse.

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  162. 40.01 on finviz.com at 22:52 04/07/2011. Now I can go to bed.

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  163. Good enough for me. Of course, price is weird, as lots of people have paid more than that. Just the electronic price.

    And gold has quietly climbed another $10.

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  164. All,
    I started buying Mexican silver miners back in 2006 when I got a promotional flyer in the mail for Great Panther. It told how the mines were all confiscated by the Mexican Gov. in 1952. They did no reinvestment and the miners were now carrying the ore out of the 450 year old mine in sacs just as it was done in 1452 because the Gov. had turned their power off.
    With crude oil production falling off and the whole country ripped by corruption and terrorism, it is inevitable that these new cash cows will be stolen again. The only question is when will this happenand will there be any warning? It is something to ponder.
    I dont think the US will confiscate local mines but I expect that at some point they will slap a huge tax on miners, say 10-15%, social justice and all that good stuff. That only leaves us with physical possession.

    Better get buying.

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  165. I like this one

    http://www.futurespros.com/metals/silver-advanced-chart

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  166. $40.00 on ebay - about 2 months ago...

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  167. Here's a funny one...

    Get a load of the bullshit being shoveled as "reporting" by CBS Marketwatch.

    In particular, look where they say to put your tax refund.

    http://www.marketwatch.com/story/take-that-tax-refund-and-spend-it-2011-04-01
    By Jennifer Waters , MarketWatch
    CHICAGO (MarketWatch) — Conventional wisdom has it that smart consumers use hefty tax refunds to pay off debt or earmark toward a retirement or savings plan, maybe even a rainy day fund.

    But a lifestyle coach is bucking that prudence, encouraging people instead to spend that tax refund because the return on the lifelong memory of, say, a great vacation, is greater than any financial return you might get now from a certificate of deposit or a savings account. And who knows, you might not ever see any kind of return at all if you die before you retire

    His reasoning, he said, is a numbers game.

    Here’s an example: A family gets a $5,000 tax refund (this year’s average, per person, is about $3,000, according to the IRS.) If the parents, who are 42 years old, invest that money, they could probably slightly more than double that by the time they retire 23 years later at 65.

    (LOL- LOOK AT THE Y-O-Y SILVER RETURN I POSTED ABOVE!!!)

    (SNIP)

    If you’re still wondering what to do with that tax refund, here’s what most personal finance experts, including Armstrong, Gallegos and Capital One, advise:

    •Tackle debt. Whether it’s a credit card, a payday loan or any 401(k) loans, pay it down or preferably pay it off and operate on cash. Pay off the bill with the highest interest rate first and then whittle your way down. But if it feels better to pay off the smallest balance first, go ahead.

    (UH YEAH- PAY THE BANK)

    •Save it. Interest on standard savings accounts might not look too attractive right now, but there are plenty of savings options you can choose, including CDs and money-market accounts.

    (UH YEAH - PUT IN THE BANK'S HANDS)

    •Fund your IRA or your spouse’s IRA. You can get a tax break from it, too.

    (OKAY, Gee, Maybe I should put it in the bank)

    •Fund an education plan for your children. There are plenty to choose from such as the Cloverdale IRA, a 529 plan or a prepaid college tuition plan.

    (Yeah, I really could put in the bank)

    •Build that emergency fund. Gallegos suggests six months of expenses should be socked away. Armstrong’s in favor of much more — even as much as two years’ worth of income.

    (Yeah, really put in the bank)

    •Make sure your money is safe, meaning that any savings tool is backed by the Federal Deposit Insurance Corp.

    (just in case, you didn't really realize it... you should trust the fact that the FDIC is stable, even though Chase has 60 TRILLION in derivatives exposure...so please put your refund from the IRS in the bank)

    (Still missing the refund check here)

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  168. Hey Xty!

    Well, it looks like a slam dunk for your call, so congrats!

    BTW, I have some cash sitting from my EXK sale from two days ago (I don't even want to talk about that non-existant BTFD *sigh*), and now I'm thinking maybe some part should go to gold miners? Like 50% back to EXK and 50% something else like?

    Any thoughts?

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  169. I second the night nights. But what a night. I think it will be a short one. Maybe the day the miners kick off.

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  170. Did anybody even notice, we've got 1465 gold too. And the dollar looks sicker than ever.

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  171. Oh, and welcome Mr1776. Post away. Nice to have you aboard.

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  172. Let's not get OVERLY excited happy chappies. Let it CROSS-OVER $40 and stay there for 4 hours at least. Then we can pop the bubbly.

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  173. @StrongSideJedi

    Too funny. And you can take that to the bank! ;)

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  174. @ kiwiquest07,

    You must be the twin bro I never knew I had.

    I can echo everything you say right down to the highlands of Scotland and getting the boot in the Clearances.

    The Scotch-Irish made the US the great country it was, now it's a barely recognizable shell of its former self.

    My favorite is 16 year-old Lagavulin. Yours?

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  175. Irene - I don't actually know the balance I have. I will list them in the morning for you. But it does look like gold might explode - yes Eric, I did notice gold's quiet climb. To 1500 before stopping for a bit? 1600?

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  176. word verification - Resto - I think it is a hint. Victorious, I can sleep. I never thought I would win that bet, and not at just after midnight. Freaky.

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  177. to the keggerator! haha! sierra nevada, I Iove you too.

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  178. JoeKa - it is just that we had a wager going about when silver would touch 40 - it also needs to get a Comex close - a two part wager.

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  179. OK, netdania guys, you got your $40 now, too

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  180. Irene

    Just between you and me (whispering now), my largest gold miner position is in Allied Nevada. You'll need to do your own DD to figure out why. wink wink

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  181. OK Now I am happy - clearly 40 on netdania. Wahooo!

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  182. Ok now the M15 XAG chart is finally showing some buying fatigue after a straight up line for +6 hrs. It's lunch time here in Asia! lol

    I think that perhaps these levels would induce some technical buying from the boys in London when they open in 2 hrs.

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