Monday, April 18, 2011

The Monkeys Unleashed

Lots of weird stuff going on today. The mention that S&P has placed the debt of the U.S. on "negative" for a possible downgrade has sent almost everything reeling. Here's what I think is happening in the PMs:

1) Downgrade prompts spike as buyers rush in and shorts cover. Fundamentally, this was the right thing to do as this is, unquestionably, bullish for the PMs.

2) All of a sudden, a new thought takes hold. "Maybe this will do it. Maybe this will be the catalyst to finally get the U.S. to take their problems seriously." Along with that, you get this..."This certainly means that the U.S. will raise rates and end QE. Inflation and risk off. Sell your PMs."


3) These two nonsense, bs arguments have taken hold and back down go the PMs. After reaching 1498.60, gold is back down to 1489. Silver touched 43.56 and has since seen a low of 42.20!

4) Without question, The Cartel attempted to "carpe diem" in silver. They are hoping to paint an Outside Reversal Day on the daily chart. Again, an ORD is when you make a new high on the day but then close below the low of the previous day. Technically, it paints the picture of a change of sentiment and a temporary blow-off top. Not good. Technical algos would be tripped into sell mode and the "situation" in silver might be a little more manageable for Blythe and her crew... at least for a little while.

The ultimate number to watch today is $41.80 in May silver. Not only is that the number below which there would be an ORD, its also very important support on the 2-hour chart. Failing there, we could see a move all the way back toward $40. (All the way back toward 40...as if that would indicate some type of defeat. HA!)

And here's the daily silver:


And here's how brainless and stupid this all is:
The POSX is up. Granted, the ginned-up news regarding the PIIGS makes those long euro a little frazzled but, still, so you take your money and buy dollars? What are you...freaking nuts? Seriously? Jeezo, there are sure a lot of braindead, status quo, inside-the-box only money managers out there.

Anyway, the only thing you need to watch today is $41.80 in silver. With an ORD in her grasp, you can bet that Blythe and her monkeys will make repeated attempts to attack and collapse silver. Do your part. Be ready to buy if we start moving under $42. I will.

TF

p.s. In my haste, I neglected to give you an update on the POSX. This, SPIN-inspired, dead cat bounce will likely take it to 76-76.20 but that will be it. We'll be back testing the area around 75 by next week at the latest.


11:55 EDT UPDATE:
I apologize for not taking the time to run upstairs to get the whiteout. You'll have to use your imagination. When you do, you can clearly see that the move back UP through 43 is very constructive for ending the downtrend that began in the overnight hours. I have a last in the May of $42.84. Lets hope it keeps moving higher.

300 comments:

  1. First?

    Anyway, BTFD brothers. Maybe a "Pick the close for the day pool is in order?"

    My guess is $43.60. I think we go higher.

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  2. My BTFD may have been about right!

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  3. Unreal action today. Whoa...

    Getting to 1500 and 50 is going to be a violent fight. There will be blood.

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  4. BoS coming back to Au. Not so much in Ag.

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  5. Ok. Just another sick crazy volatile day in the weird world of market manipulators.

    I've got to stop watching my miners and options and go do something to earn more $ to buy more miners and options. ..wait. ... "/

    (at least my physical does't seem to be oozing red when I look at it ..at least not literally) :]

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  6. What I want to know is who is buying all those US Dollars abd what are they buying them with?

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  7. Over 100000 in one volume bar on Netdania. Never seen that before.

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  8. TF took the words right out of my mouth regarding the PO$X. Makes no sense but they are in a emergency situation so they will do anything they can.
    They knew the downgrade was coming over the weekend. No doubt and were ready.

    This is how I see it going forward. The S&P did not cut our AAA+ rating, yet.
    There is NO WAY the U.S. will not raise the debt ceiling in the next month or so. They have to. Now, picture all the political fighting over it that is about to take place and all the blame game stuff.

    S&P or Moodys etc. WILL have to downgrade the AAA+ once the debt ceiling is raised or before it happens during all of the turmoil.
    It's inevitible or the ratings agencies will be called out for being the shills that they are.
    It's going to happen as we have no choice but to raise our debt even further.
    The Euro and PO$X are about to ride a
    teeter-tauter (sic?)

    Soros WILL roll himself out very soon to focus the spotlight. Get ready, because it's going to be painful to watch.

    Sad stuff, but it will happen.

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  9. I have been a small business owner for 15 years. I am sure there are others in my same situation. I have been concentrating on preserving what I have worked so hard to save and find it difficult to worry about planning for my business' future.

    I am a physical only investor. I have been buying monthly for over 2 years now. I have been thinking we would get a market crash that would take pm's with it. I would then seriously back up the truck on the crash. But thinking about Turd's post this morning, the Univ of Texas Endowment funds purchase and all the others trying to escape US debt...I wonder how much money is waiting to do the same thing. I think I will step up my monthly purchases and just BTFD. I think the dips have already gotten smaller and recover faster. That is a trend that looks to continue imo. There is no political will whatsoever to control spending. And we should not expect there to be with nearly half of americans not paying taxes, 44 million on food stamps, etc. Turd reassures me that the only option is to print...QE as far as you can see.

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  10. The USD is up wildly against the Aussie, Canadian, pound, euro, the yuan - everything except the Yen.

    And the Yen is valuable why? This is their other battle ground.

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  11. Leveraged Ag owners may be selling to cover other under water positions and meet margin calls but once that's finished, who else is selling their Ag? Answer: No one.

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  12. Is anyone using Spotmex for dealing physical coins? It's a new website from Stella Concepts whose YouTube channel has been promoting PMs for some time. The difference between physical (as I see at shops and on eBay, etc.) and quoted prices for paper contracts continues to decouple, and this is why I'm curious about Spotmex. BTW, there's a wonderful page at Goldprice for seeing the real prices (high, low, average, quantity, delta, etc.) that silver and gold are selling for eBay on any given day. One love...

    Ol' Michael
    "Don't mistake a bull market for brains."

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  13. Since Turd did not ban comments about Bacon or sprouts, apparently we have the green light to discuss them here, much to the chagrin of the PM purists.

    Having said that – for anybody with a green thumb, all you need to do is overplant broccoli in your garden so you don’t get around to harvesting all of it. When a few plants begin blooming, just allow them to go to seed.

    Harvest the seed-pods, allow them to dry, put them in your palm and rub your hands together. Then, drop this onto a slightly tilted piece of cardboard to separate the seeds from the crushed seedpods, and presto! – you have your own seeds for sprouting.

    (Or, you can just buy your sprouting seeds at the store. After all, everything you need will always be available at the local grocery, right? No need to learn how to produce any of your own sustenance, right?)
    -------------------------------------------
    Expecting an uphill climb to $1,500.00/oz Gold, as the algos kick in. (Couldn’t help noticing that’s what happened when Silver hit $49/oz.)

    Gonna Party like it’s $1,499!

    -Mammoth

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  14. Part 1:
    For what it may be worth to anyone, below is my current assessment of a variety of precious metal (and some other) stocks with charts available in TeleChart, which is most NYSE and Nasdaq global list stocks, not pink sheets or foreign only. For this classification I am only using daily charts and primarily two factors: 1) the stock's relative strength to gold using a pair of exp.mov.avg, of RS and 2) the ADX indicator component parts +DI and -DI using my own choice of parameters. "OWNABLE" does not imply that it is necessarily at a good low-risk entry point, only that relative strength of the stock to gold is increasing and looks like it has enough internal strength to continue that trend for (hopefully) a few more months, and the trend has enough "cushion" in it to absorb a brief pullback. "CHURNING" refers to what the relative strength line is doing, the price could possibly trend slowly higher or lower over time. "AVOID or SELL" self explanatory, and means the relative strength is declining in a defined trend and -DI is strongly dominant. Note well: This list is based only on my view of the chart and its placement does not incorporate any view of the company's fundamental valuations whatsoever. Some of these may have an additional observation. I own those indicated.

    15 April 2011 Market Close Prices

    OWNABLE (RS outperforming gold):

    AVL 9.48 (may have reached a temporary resistance point)
    REE 15.61 (might be entering a CHURNING phase now, not yet clear)
    MCP 74.15 (that's what the chart says, note +DI peaks are sequentially lower so losing upward energy)
    HMY 14.82 (a recent re-classify to ownable on strong RS crossing in March, BTFD)
    KBX 1.73 (example of no debt, no revenue, negative earnings, but good looking chart)
    UXG 9.42 (same comments as KBX except even better looking)
    VGZ 3.37 (recent price peak, not clear yet whether to buy dip)
    AXU -own- 9.64 (solid strength in both indicators)
    MVG -own- 13.18 (recent price peak, both DI over 50 muddies the message, +DI still dominant)
    RIC 8.32 (extremely strong crossing signal made in Feb)
    ANV 39.13 (very strong and enduring trend, past 2 months +DI actually trending up while -DI trending down: very bullish)
    CDE 31.29 (recent price peak, not clear yet to buy/add on dip)
    NGD -own- 10.62 (solid trends but -DI creeping up over 50)
    MGH 2.57 (may be completing sideways RS action)
    GRS 10.39 (strong RS and +DI trends underway as of Feb)
    EXK 11.98 (extremely strong indicators)
    GG 54.20 (strong recent signal in Feb)
    KGN 9.26 (basically bullish but frustrating)
    ZINC 15.78 (recent resistance, dip not complete)
    ICO 11.01 (both indicators strong)
    PSLV -own- 19.63
    AG 23.68 (both indicators strong)
    SLW 42.64 (strong trends)
    SVM 14.19
    CEF 23.27 (very strong trends)
    GPL 4.08 (RS trending sideways for 1 month, weaker DI overall)

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  15. Afrum's classic moniker for the Bernank as 'Benron' had me spitting coffee this morning. That has to be post of the day.

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  16. Part 2:

    POSSIBLE RS TREND REVERSAL to BULLISH:
    EGO 18.05 (upward crossing taking place but signal not complete)


    POSSIBLE RS TREND REVERSAL TO BEARISH

    IAG 20.07 (downward crossing likely but not complete)
    SWC 20.57 (signal nearing completion)
    IVN 26.57 (RS oozing lower in weakening price and DI configuration)
    PZG 3.22


    CHURNING:

    GMO 5.28 (with mildly negative implications)
    TLR 0.98
    RGLD 53.77
    TGB 5.54 (with mildly negative implications)
    ABX 53.30 (RS churning with a mildly upward price trend)
    AUY 12.80 (RS downward crossing sell in Dec 2009, to churn in Sep 2010)
    PAAS 38.08 (DI both above 50 muddies outlook)


    AVOID or SELL:

    USU 4.43 (no surprise here)
    CXZ 1.06
    DNN 2.39
    HBM 15.81 (RS line crossed to negative in Feb and continuing lower)
    GSS 3.03
    URZ 3.13
    KGC 15.66 (RS down since Oct 2009 with false reversal Sep 2010)
    JAG 5.13 (RS down since Jan 2010)
    NG 13.26 (more AVOID than sell, RS downward crossing in March)
    TRE 6.28 (crossed down from bullish to churn in Nov 2010, then to AVOID/SELL in March 2011, RS becoming locked in downtrend)
    PAL 5.88 (RS downward crossing in March continues lower)
    AEM 65.24 (RS locked in downtrend)
    FCX 51.15 (RS crossed down in Feb, rally failure confirms downtrend)
    NEM 57.77 (RS crossed down Oct 2010)
    HL 9.61 (RS crossed down in March but no follow-thru, price direction not clear)
    URRE 1.98
    NAK 14.56 (RS crossed down in March continues lower)

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  17. I would posit an alternative explanation for the spike and dip.

    Downgrade: Immediate instinct is to rush to PMs.

    But the SP500 sell off starts taking hold and scares some PM investors. Big dips in the SP500 are well correlated with big dips in silver. Intra day action differs a lot from the longer term. A falling stock market will have detrimental effects on silver. Less so on gold.

    So I would say the one to watch for direction is the sp500.

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  18. USD index rising. How do they manage that? Negative EURO news?

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  19. somebody said (DPH?) the raids come in three waves

    looks like the second wave is about ready to hit

    a couple hours to NY close

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  20. Here's the money shot:

    04-18 11:10: S&P global sovereign ratings head says risk is US rating could fall to 'AA+' from 'AAA-' according to a RTRS insider

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  21. The only honest statement from a Fed hack in months:

    Fed's Fisher says Fed 'monetizing' federal debt through June with QE2 Mon, 16:17 18-04-2011

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  22. Apologize for the length of the above posts, but went thru many charts this weekend before today's news, some may gain confidence in their holdings, others may reassess.

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  23. Does gold close above $1,500 today? I think so.

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  24. Ah, yes. Dollar up so sell your crude. Brainless.

    http://www.cnbc.com/id/42637280

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  25. Just imagine when Crude oil gets rolling again:

    http://www.zerohedge.com/article/jpmorgan-pours-cold-water-crude-demand-destruction-story-sees-crude-spiking-over-130-june

    Crude is down 2.30$ right now and we are not only holding so strongly. At 8:35 est crude started to really tumble over a dollar, undoubtedly helping gold/silver sell off. It seems to be finding some support around 107. If it rises it could help gold move past our new test of $1500.

    This day is not over...
    This is the type of market that can change on a dime...

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  26. Some of the metal selloff was surely profit-taking to offset stock losses and margin calls. New metals shorts who haven't already covered are in the process of being gutted.

    $1500+ gold and $43.60 silver at the close.

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  27. Doesn't look like manipulation to me. Just offering a contrarian view. Sell off in equities is expected, earnings week, GDP estimates being revised lower, SP500 vastly overvalued, a few speculators leave and starts a cascade, DOW loses 200 points in a flash. The first specs out move money into PMs, silver and gold shoot up with influx of cash. As people leave equities into $, PO$X shoots up. Specs and algos say shit, i just scored a $1 + runup on silver and PO$X is shooting up, everyone takes their profit and PMs bomb. Sanity temporarily returns, stocks stabilize on balance of caution to add risk as everyone believes most of SP500 incredibly overvalued and the desire to not miss out on up phase of QE induced equity bubble. Gold and Silver bugs BTFD, fundo traders BTFD, PMs are fundamentally sound. The reaction to the initial sell off can be rationally explained by these behaviors. Doesn't mean BM didn't pile on, but I give at least 90% of action this am to specs and algos and day traders.
    MHT

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  28. Ginger, buy & holder myself but will change my tune on new information. After reviewing the summary from the technical session, I'm not comfortable with the risks. Notwithstanding, reality is my assessment may be off base & overblown & I may miss out on a winner. I do not intend to recommend any specific action; my objective here is impartiality and transparency & as always, everyone to do their own DD :)

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  29. doesnt matter what pzg goes to its a company for sale next to another miner exp sale of pzg 9-15

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  30. Don

    no no, don't apologize. Good stuff

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  31. Hey Mister, we are on the same exact page. See post #1 in this thread and my post 4 spots above yours.

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  32. Mad Hedge Fund Trader says he talked with Dutch market forecaster Charles Nenner, who sees QE2 ending, dollar strengthening and interest rates going down. Market collapse starts in May, according to him.

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  33. Don: FWIW, I copied and pasted into a word file

    I'll sort through on another day

    thanks

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  34. @Don - much obliged for you contribution

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  35. Mammoth,

    Not a big fan of the bacon canned/salmon debate. But I got to tell you as a man who grows broccoli, you've got to cover those plants ASAP or they will be crawling with green caterpillars courtesy of a little white moth. Ditto for your cabbages. Purchase a light-weight row cover that allows the sunlight in and staple it at the bottoms. Just a garden tip for the day for the end of the world folks.

    Now back to making some money (or trying not to lose any more) in the stock market.

    SSK

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  36. Don...good stuff, thanks.


    TF...Makes me wonder if these shills are actually getting paid real $$$ or promised a job or something for alwyas being right there on time.
    Do they carry around pagers or go to "shill" meetings.
    It's incredible and consistent.

    Just wait until Soros starts his usual paper money/flame throwing act!

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  37. I swear I wasn't copying your posts, SilverIsKing. Looks like you and I are on the same page. Except that *gold* is actually king. =)

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  38. Gold back to 1495 - we are going through 1500 today - don't know if we will stay there, this dollar manipulation has got me a bit spooked. But we are heading back up.

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  39. or maybe

    the morgue has withdrawn the pressure because the fix is in

    they have their own vault, no problem covering and 'paying' those who stand

    someone else said to watch their share price, when it goes below the value of an ounce of AG, they really start to slide down the slippery slope

    or so someone said

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  40. This "turd" of a dollar will roll over soon. Nothing but showmanship today.

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  41. I know (knew) exactly where you are coming from caramel. I appreciate the alert about the summary. I am going to stick with it (for now) ..but also.. will be hoping in the same way as you that I don't regret it. ..You can always jump back in if/when you see good things start to happen with CZN. I bought in really low with CZN so I feel I can wait a while longer. ...some of the others.. ..starting to sweat it a bit more.

    Thanks for the thoughts about it. Keeps me on my toes! :]

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  42. Rodeo day!

    In case you missed it my prediction for end of week is 44.01

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  43. word verif on my last post: "buckbear"

    How perfect!

    Once again I have to say that the POSX itself is nonsense. Rating the dollar and the euro against each other is comparing the stability of two sinking ships. The real dollar index is right here!

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  44. Mammoth - I think we did get the 'green' light. I am not well situated for growing veggies, but do intend to at least to herbs and tomatoes. That is if the temperature ever rises above freezing.

    I have to say, that while my miner account is red, it is only by pennies a stock.

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  45. 1 dollar move in silver at 43 is only a 2.3% swing.
    1 dollar move in silver at 20 is a 5 % swing.
    1 dollar move in silver at 15 is a 6.6% swing.

    So as silver goes higher expect # in swing to increase, even though in % it´s very little.

    Just wan´t to point it out, as I see in so many forums there days, people thinking 1 dollar up down is as much now as it used to be.

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  46. I still had some profit in USO this morning so sold. Would like to get back in oil-related stocks but don't really understand how the stings are pulled on price manipulation. Any expertise beyond what Turd said?

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  47. DarkPurpleHaze: I like you Haze...

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  48. Mike C

    You are so right. Think in percentages, my friends, not dollars.

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  49. @Laura - thx for the greenhouse recommendation

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  50. dd: You and Markus play nicely now...

    All: I just sold my last May 41 and bot 2 May 45s. I now have May 43s, 44s and 45s.

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  51. BlawkHawk...I held my USO as my calls are out in time so I'm not sweating it for now.

    Thats about all I have to offer. Crude will go much higher inspite of what some shills are trying to convince the market otherwise.

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  52. Question for OldNavy or someone who does the SLV options ...(Xty, you told me to ask any questions no matter how dumb my questions were.. so here you go..)

    Bought SLV options last over the past week or two and noticed that the choices were May, July, October, January12, etc. ...I had wondered why no options for June11 ..this morning June is added so you can now buy June SLV options. Why? ...Is there some rhyme or reason as to why they would leave June out and now add it in? ...Does each fund or company decide what months they will offer options?

    See. I told you. Newbie Dumbie question. Sorry. *slinking down in my chair*

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  53. The EE blew its wad, Its our week now. You watch.Its all up hill this week.

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  54. It's all coming apart like a fucking soup sandwich.

    "The years teach much which the days never knew."

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  55. William Perry (The Fridge) used to call this "the shaft"

    http://www.yourememberthat.com/media/11291/The_Fridge_William_Perry/

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  56. As a reminder, JPM has already cornered the copper market, so price movements in copper should probably be taken with a grain of salt. We know silver has been breaking out with respect to gold over the last few months. JPM/EE are no doubt scared about what message silver is sending to the world. They are trying their best to curb the explosion in silver, and silver has also seen more attention than gold lately, so movements may naturally be more pronounced in silver. Hence the huge silver drop compared to the more mild gold drop this morning. None of this is anything to worry about. We're almost back up over 43 already. These manipulations are having a smaller and smaller affect on spot price which probably means we can expect more drastic measures in the near future. While spot price is rolling, unfortunately the miners are getting stopped dead in their tracks. On average my miners were up higher when silver was at $37. What sense does that make?

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  57. This is only the first salvo of cannon fire to support the USD and shake out some initial weak handed shorts. USD will fade into the week, as the biggest USD gains will be MON. Tues. & Wed. of the grand potentate benron burnokio speak. Dollar bottom is zero but I see some temporary halt to the dollar crash next week!! This week buy the dips on gold/silver lest we see a breakout above 76.50 USD. Good hunting this week turdites and prosper. By FRYday it will be time to take some profits off the table and get physical with next weeks real PM smack down.

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  58. Stop it Ginger! There are no dumb questions.:)

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  59. Boy, if you didn't load up your depends this morning, you can handle just about anything. I guessed last week in my Thursday close pick that there would be some awful bumps this week. Never thought I'd see it launch like it did this morning and crash so violently. This market is not for the weak of heart. Speaking of which, the chart for silver looks like an EKG today.

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  60. sprout noise-
    Here's some online sources I've bookmarked, but I haven't bought from any of these vendors yet.
    http://www.wheatgrasskits.com/sprouting/3_part_salad_mix.htm
    http://sproutman.com/sprouters
    http://www.bulkherbsandspice.com/sprouting_seeds_seed_sprouts_growing_sprouts.asp
    http://www.frontiercoop.com/prodlist.php?ct=dfmss

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  61. Classic afrum, lol Where would this forum be without you afrum. You make my day. Thanks buddy :)

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  62. The monkeys are really bringing the volume today.

    I see 2446 contracts trading in the minute of the big silver takedown.

    2446 contracts is 509 Tons.
    (Remember 12 oz/lb for troy oz)

    A semi truck can carry 97,000 lbs max.
    So that single minute of trading would require 11 semi trucks to move that much silver.

    If I take the volume in the 5 min span then we are talking 1523 Tons and 32 semi trucks.

    Wow....

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  63. If you are really going to sprout something, get a juicer and do wheatgrass and barleygrass. It's one of the super healthiest things you can do.

    And that's the last thing I have to say on the subject.

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  64. Want to thank the Turd for coaching me to buy dips and appreciate this volatility. Keep selling into strength off these raided lows. Only way to stave off the Alamo which the miners have become. I feel like Fess Parker holding these critters and fighting atop the battlements as the Mexican Army comes pouring over the top. No rest for the weary. Jim Bowie holed up with loaded shooting irons in the back room, waiting for the deluge of viscious, random enemy.

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  65. Absorbing Jr...Rodeo Day! Was thinking exactly the same thing!! Same page stuff...Extended the thought that thank God we have Turd with his big yellow hat standing in for us giving us the confidence to ride it out!

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  66. rthaler

    Excellent analogy. I'm feeling it.

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  67. Does anyone realize that the Dollar as the worlds reserve currency is the biggest lie ever perpetrated on the whole of mankind in its entire history? Does this lie make us here in the USA look like the most criminal nation in the annals of history? How could we, the most educated, most wealthy, most powerful nation to have ever existed, allow this to happen. What a disgrace to all the good that we once represented as a model for the world to emulate.

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  68. My last post was wrong, 97000 lbs is the max gross wt, not he payload. So the 5 min take down in silver would require about 64 semi trucks to haul it away. at 42.50 thats 1.5B dollars in 5min .

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  69. Best approach for me on a day like today is to take my eyes off the miners and the oils and give these Double Eagles in my hand a little jingle. Then I feel like everything will be OK. :)

    Going to head out and stop at a few coin shops and see what's shakin'.

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  70. @ben.roberts13

    Although I tend to agree with you, I disagree with the part of "most wealthy, most educated"

    Everything is a sad lie my friend.

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  71. @benroberts13:

    as I recall we won the war

    and what started as a well intentioned process has slipped the noose and is as you say it is

    the criminals are few and some still on top of the dirt

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  72. Ok so we once were the most educated and had the best schools that still to this day are sought after by the worlds elites offspring in every nation. We still have the worlds greatest GDP even as we are losing this advantage daily being reduced to third world status. We once had a very proud past.

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  73. I've been using the term "fibrillation" because that's how the chart looks on a dying patient.

    Decoupling ?

    Goldprice.org/ebay-gold-prices/ ?

    Spotmex ?

    Ithaca Hours vs. NorFED/Von Nothaus guilty ?

    $100 bill mystery - over a billion of 'em ?

    Trillion+ in fake T-Bonds nabbed in Italy ?

    Wars, Nukes, Earthquakes, 2012, bean sprouts ?

    Doesn't sound too bullish for the dollar...

    So what was the Plan again ? Oh, right.

    Ol' Michael
    "...paper is paper..."

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  74. The globalist won the war, we gained nothing but more corruption than ever seen in all of human history. The only winners in war are the banks who finance both sides. The people are always losers even if their nation wins.

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  75. Mammoth and other gardeners;

    I already have tomatoes around 1 cm. and cucumbers over 1 inch. Broccoli seeds sprout well for vitamins. Just one good plant going to seed right now and it will produce several ounces of tiny seed (I started that plant in January here in Louisiana). The rest of the plants were given to chickens after I ate the florets. 20 yard eggs per day. What to do with all these eggs.

    Silver bars and ounces waiting to be sown. Who has the guts or fertile ground to buy on credit and wait to sell at the end of each month? I will pay off the credit and premiums whatever happens.

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  76. Thanks for the update - that really does put things back in perspective. And gold is up from the morning - you could erase that silly hat (ah the blasphemy - I mean the way the one minute gold chart looks) and it would be a fairly orderly rise. Using my technical terms for the lurkers.

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  77. In times of stress, sometimes you have to stop and smell the shredded swine flesh...

    Bacon vending machine

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  78. kiyotei

    Lol my friend. L-O-Friggin L!!!

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  79. Wheat is up over 4% today - it must be all that talk on here about sprouts!! Keep talk'n - my calls are liking it.

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  80. They bring out the pigs to pump the dollar up by 32 points, they drop the price of oil by almost 3 dollars, they knock the crap out of the DJI by over 200 points. The miners slaughtered with it. All of this to trash silver?
    However gold says NO Way ! Crazy day. Relentless determination to keep silver down. Go figure such senseless shameless abuse of power.

    The miners seem just another paper asset to be used in the over all manipulation scheme; disgusting beyond words.

    I have never seen the rule of so much insanity on so many levels with respect to every aspect of human activity and thought.

    ReplyDelete
  81. So, Turd;

    You culled my reply re: gardening and not the many replies of others that use profanity?

    ReplyDelete
  82. Good thing we have this forum to help us all stay sane in the face of such monumental madness. Our hats off to the great Turd for this outlet for our frustration and anger.

    ReplyDelete
  83. Piggies

    http://www.youtube.com/watch?v=W5K4CwWo6Os&feature=related

    ReplyDelete
  84. I am sorry, because I must be reading comments with several browser windows open. Sometimes the broccoli plants must be culled.

    ReplyDelete
  85. @CreoleGenius
    A product called KePeg is supposed to allow fresh egg storage up to one year w/o frig:
    http://www.happyhovelfoods.com/water.html

    Also sell your eggs to neighbors, friends and get homeless people to help if you can't find customers. Its better than panhandling on the corner. Split the egg money with them or pay in eggs.
    Create a pickled egg route. I used to sell in liquor stores. Exchange glass egg jar with new refill jar when stock gets low. Owners like it. Guv'mint inspectors, not so much. Have fun.

    ReplyDelete
  86. The POS (default asswipe world currency) will start tanking soon and the shiny will go up.
    This big dollar rise was a dog in pony show in the face of the S&P negative credit outlook of the USD...

    ReplyDelete
  87. Creole - Turd does not cull comments. It is an internet glitch. Copy before you post to save heart ache.

    ReplyDelete
  88. Perspective: if we white out the wicks on today's candlestick, we are higher than Friday's comex close and only .18 below Friday's 6pm close. 43 is easily within reach. Perhaps F is right "the EE blew its wad."

    ReplyDelete
  89. Just a little while ago I was sitting in awe of the 5-min silver chart and thinking how it kinda resembled the Empire State building. Maybe I’m just going all Rorschach there.

    Then, back to the blog, I see the update with the top all scratched out… or maybe Turd's gone and thrown streamers from the top?

    Chart madness ensues when in a hold pattern LOL.

    ReplyDelete
  90. Takers for a breakout attempt on 1500 before the close?

    ReplyDelete
  91. Hang on! - SI, GC, CL, GDX are all aligned to move higher together now with the DX ready to fall; I thought that 4% Wheat move was a good omen!

    ReplyDelete
  92. Now, because of some of you people (and you know who you are), I'll take my leave.

    Must have a bacon & sprout sammich. :)

    ReplyDelete
  93. Please note that Gold and Silver are at the very heart and the most important barometer for all financial and currency valuations. So every effort is put forward by the EE to control their price against everything that is traded. So therefore, we are at the very heart of this battle when we buy physical and the miners, and to a lesser extent the other paper denominated gold and silver assets. With that in mind, please understand how important your part is in this war against financial honesty and sanity. Never lose sight of these fundamentals when making your day to day financial investments and decisions.

    If there are some of you who think that the EE is not aware of this importance, think again.
    Make no mistake, gold and silver are at the center of the global financial world. There is no financial asset more important. That is the way it has been for more than five thousand years. That is the way its going to be in the next five thousand years as long as there is a world where humans buy, sell, and trade.

    ReplyDelete
  94. Ok happy chappies. Lotsa interesting action today...but the bed calleth.

    See ya again on my AM! Don't everyone say goodnight at once. LOL

    ReplyDelete
  95. ben.roberts13,
    Just wait.. I'm sure I'll come up with a few if I haven't already. :D

    kiyotei,
    Haven't seen you around much lately! ..Welcome back!! ....When my daughter was younger she actually DID think that the hand dryer in public restrooms was a bacon dispenser. She only told us in the last year or two about what she thought. She said she remembered thinking when she was little that that was a gross place to eat bacon. LOL.. ..We actually nearly laughed our heads off at her. ....AND... I have a true broccoli story too. ..While riding in the car when my son was about 18 months old or so (maybe less) I would routinely look in my visor mirror back at him in his car seat to check on him and I started noticing how quiet he got while we were driving down the road. After a few days of this I asked him 'what are you looking at?' ...He just kept staring up and out (the car seats give them an upward perspective) and without breaking his gaze and with this awe-struck expression on his face, he simply answered me 'broccoli'. ...Took me a few minutes to realize that he was seeing all the treetops and thought it was all broccoli. :D :D

    ....Sounds like I got me a couple of genius kiddos, huh? :D

    ReplyDelete
  96. @Ginger ...

    For equities, generally the next two expiry months are available for trading. So last week, April and May were available. Now that April has expired last Friday, this week June begins trading.

    Additionally, a year's worth of longer dated options are traded, at 3-month intervals. Depending on the equity, these intervals could be Jan-Apr-Jul-Oct (like SLV), or Feb-May-Sep-Nov, or Mar-Jun-Aug-Dec. The options exchange decides which cycle when the equity is first listed for options trading.

    This is why you see July options in SLV -- they've been available for trading since last summer.

    Also, the more liquid equities have LEAPS (the L stands for long-term), that typically expire in Jan. For example in SLV I see Jan 2012 and Jan 2013. Jan 2012 is part of the quarterly cycle above, but the Jan 2013 is a LEAPS.

    Also, as if that weren't enough, the most liquid equities now have weekly options - these expire each Friday and start trading the Thursday the week before.

    Clear as mud, no :)

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  97. Gold looks powerful today; most likely all week. Silver climbing to 45 in sympathy end of week as we breakout over 1500 in gold. Need to prepare for the grand potentate of paper fiat floating heads; FOMC bentrod himself. What a lunatic! Promising everything and delivering nothing. You could rely upon your own intelligence & prosper without the dead head fed goons. It's all a floating head for those in chasing burnokio bucks to OZ. Promising all and nothing but broken promises in the end. Follow the yellow brick road. Yes! But know you don't need somebody else to make your desires come to pass. This exist with in everyone coming to earth. Light and truth. Your own common sense conscience which keeps one in check from breaking immutable laws. Immutable laws our leaders have broken and passed the point of no return; neither redemption from choosing; darkness over light; wrong over right; a broad road of destruction over a straight & narrow pathway unto true freedom.

    ReplyDelete
  98. These financial gurus are a hoot. They can't figure out why the money leaving stocks are going into the dollar since dollar debt is causing the downgrade. One day a light is going to go on and the rush into gold and silver will begin in earnest. This discussion today about the downgrade is ALL good for gold and silver.

    ReplyDelete
  99. Ended up taking my own "advice". Sold a little NGD and bought some HMY.

    ReplyDelete
  100. I usually bring an eagle to work with me. Today I brought a 10 oz englehard bar. Its presence on my desk has helped counterbalance todays roller coaster ride. I bought AGQ five minutes before this morning's crash...almost back to break even. no worries.

    Nite nite JoeKa
    we'll hold down the fort.

    ReplyDelete
  101. JohnC,
    That explains it perfectly! Thank you much. I never knew and that's good to learn that there is rhyme and reason to how it's all ordered.

    Perfect explanation.. thank you again.

    ReplyDelete
  102. Laura, Ginger and others

    Turning these ....
    into these ,,,,

    http://sproutpeople.org/

    ReplyDelete
  103. @Dr.J: Did you really bring a 10oz bar to work?
    Weren't you worried someone may steal it?
    In Asia, they will! Especially if it's SILVER! :P

    Nite nite. See you guys later.

    ReplyDelete
  104. The dollar may go up, not because people want to buy it, but because they must cover theirexcessive short position. I expect this will push silver/oil/gold down for a bit before we blast higher again. Volume will lighten all week and will make it easier for people to move the market.

    ReplyDelete
  105. Jesse's comments on the downgrade:
    http://jessescrossroadscafe.blogspot.com/

    ReplyDelete
  106. Ready for the NYMEX closing beatdown by 12:25?

    ReplyDelete
  107. I see the PO$X starting to come back to earth but that it was up so lofty on the news today is craziness I guess I just can't comprehend.
    The enormous amount of money and buying that must have obviously been done in preparation for the S&P announcement is a bit scary,
    There is going to be one hell of a hangover and and snapback.

    There is probably some shill on TV somewhere at the moment extolling the "strength" of the U$D inspite of the S&P news.
    The Twilight Zone is where we are at.

    Has the WH actually come out and spoke about this at all or are they all hunkered down with their heads still in the sand?

    ReplyDelete
  108. s,
    Thank you! ..That is one cool site.. Love it! ...I noticed in one of the photos near the bottom of the page, they show a jar/mesh like Irene described how she does it ..very cool site.. added to my favorites!

    ReplyDelete
  109. Some crazy shit, these fuggers know how to damage an account. Still nothing fundamentally changed. These U$0.50 - U$1 swings do nothing to curb the demand for physical.

    I just find it surreal that even in the face of a downgrade, Bonds are still trading in positive territory.

    ReplyDelete
  110. Have any of you been watching these videos with Mike Maloney, Silverfuturist, Chris(TheWeeklyTelegram) and JackieO? I think it's pretty cool seeing all of these YouTubers come together with Mike Maloney in NY to do a sort of collaboration for us viewers and pm bugs. Knowing Mike Maloney and his business mentality, he has to be the one that orchestrated this. Smart move on his part if that's the case.

    Video 1

    ReplyDelete
  111. Max keisers site had a good video on bonds:

    FRAUD: Federal Reserve Is Selling Put Options On Treasury Bonds To Drive Down Yields

    http://maxkeiser.com/2011/04/18/fraud-federal-reserve-is-selling-put-options-on-treasury-bonds-to-drive-down-yields/

    ReplyDelete
  112. Trader Dan posted an interesting take on the miners:
    http://www.traderdannorcini.blogspot.com/

    ReplyDelete
  113. I'm waiting for a small dip in gold to buy back some contracts I sold earlier. Maybe I get it now. (My gold trades took some of the sting out of some bad silver trades.)

    ReplyDelete
  114. Inca - I am with you - not sure we will stay above 1500, but I am pretty sure we will touch it today. The dollar is already starting to fall back down (can they really be bothered to put so much effort into these raids and dollar antics that now seem to work for a few hours, if that).

    ReplyDelete
  115. thx Justin! I hadn't visited my youtube channel for a few weeks. Gotta love Silverfuturist. One of a kind. The tricorner hat in the chicken coop vid is one of my favorites.

    ReplyDelete
  116. He explained it something like if you put insurance on your own bonds (or put options)people are less likely to fear the bond market dropping. Thats why there isnt a mass movement from bonds.

    At least thats part of it. I thought it was worth a watch .

    ReplyDelete
  117. No NYMEX beatdown? EE must have shot their wad earlier. Wonder how many contracts they went short?

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  118. Turd, remember couple weeks ago when Crude and Gold were trading as if holding hands? Seems to me like the EE has decided to lift a bit of the "invisible hand" off the PM's and decided to concentrate on suppressing crude. After all, crude at U$110 makes headlines, Gold at 1500 doesn't.

    Looks like silver is coiling for a possible UP break.

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  119. I'm thinking that we pause before really taking out $1500 gold. Maybe we touch it, like xty thinks, but I would guess we'll have at least SOME fight here.

    For $40 silver, we did have a fight in the end, but it was a defensive fight from above, instead of an offensive battle from below. And it took but a few days.

    I'm thinking we see a few days for gold. But if we charge through, I'll load the truck. (I'm still long now, in fact, just less long than this morning). Once we pass $1500, I think it will be a short time to $1600.

    I think silver will echo gold during this time.

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  120. With apologies in advance, I am making a blatant political post. Please forgive me.

    The Congress shall have power to levy and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration."

    When Congress passed the 16th Amendment 98 years ago, they enacted the income tax. At that point, We the People ceded more power to Congress than at any other time in our history.

    It was a bad idea then, and it’s a bad idea now. Even Congress and the President recognize it. The President recently asked Congress to make tax reform a priority, and Congress is holding hearings right now. But they don’t want to include the FairTax in those hearings. They recognize the FairTax will be the single greatest transfer of power from the government back to the People since the Declaration of Independence.

    Please visit www.fairtax.org and read the case for abolishing the income tax and replacing it with a consumption tax. You may be surprised at how strong and compelling the case is. If you are not, then all you have done is invest a little time.

    /political message

    Thanks!

    ReplyDelete
  121. @Dr. J
    “It has been said that something as small as the flutter of a butterfly's wing can ultimately cause a typhoon halfway around the world.”
    you said - "I bought AGQ five minutes before this morning's crash...almost back to break
    even."
    I timed the market similarly early last week buying 120oz. just before Ag plummeted from $42.10 to $40.98. Did you ever think that your purchase may have been the catalyst to CAUSE the crash? If so, next time please warn us before you purchase, I will do the same.

    ReplyDelete
  122. Very well thought out piece written on Silvermex (GGCRF) on stockhouse. Very insightful as his comparison between Arian and Silvermex gives fantastic points.

    http://www.stockhouse.com/Bullboards/MessageDetail.aspx?p=0&m=29585811&l=0&r=0&s=SLX&t=LIST

    --
    For those who don't check stockhouse (or similar websites) occasionally regarding their current positions, I highly recommend it. Lot of good opinions, but it is important that you sort through the garbage and are able to decipher true vs deception.

    ReplyDelete
  123. Titus, I don't know, this morning when everything was taking a hefty beating Silver was holding it's own pretty well. I think silver has been manipulated to such an extent that it should hold well even in the face of some Gold sell off. Then again, I may be wrong, but the situation at the COMEX is not going to improve and demand is there.

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  124. Gee whiz, I wonder how many EE ears knew about the S&P downgrade on Friday, besides the White House whores?

    http://www.zerohedge.com/article/reason-geithners-weekend-media-whirlwind-tour-white-house-learned-about-sp-downgrade-friday

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  125. TF with your scribbling on that update chart I see

    A big yellow hat!

    ReplyDelete
  126. RickR, I'm not 100% certain about anything. Just thinking out loud. If I'm wrong I'll jump in or out at an instant. (I'm just half in right now waiting to see how $1500 gold resolves).

    Is anyone else seeing relatively high volume on the silver Globex? My charting software is showing small price movement, but pretty high volume. My POS charting software dies twice today and I don't trust it.

    ReplyDelete
  127. Wow, silver just took off like a rocket. Back above 43.

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  128. Chubbie little Italian Chef Guy "BAMMMMM!!!"

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  129. Silver just gapped up a nickel from 42.02. Same spot it gapped up from Sunday evening only to be filled earlier today.

    I don't daytrade, but I always mind the gap.

    Do I read too much into these gaps? Anybody else wary of buying above them?

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  130. BTFD is so yesterday. Seems the best we can do now is buy the pause. And yes, I BTFP.

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  131. JPM trying to cover some short contracts from earlier?

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  132. Let's see... US markets open, silver gets a beating. Us markets close, silver takes off. Hmmm.

    Could this be Pailin's proof?


    word verif: "stingup" Hmmm again.

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  133. sorry...43.02 is the gap spot. gettin' bleary eyed from the speed.

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  134. Nice FUBM ..... loving it!!! go silver!

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  135. OldNavy,
    That wasn't a political post. That was a common sense post.

    We The People concur.

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  136. R man J

    I think there are a number of us here who have that special capacity to buy before the crash and sell before the spike. This is my first BIG screw-up in a couple of weeks. I am glad I did not panic and sell out at 42.20. The Turd's steadying influence is helping me enjoy the ride, knowing that any long silver trade will forgive my bad timing.

    If the EE attacks this afternoon, I plan to ride it out.

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  137. There will be no further attacks , the EE is spent for the day, probably the week.

    ReplyDelete
  138. Break back above 43 after crimex close tells me we get disorderly in gold/silver. Panic buying to the upside. I cautioned my Father in PSLV at 13 to take some profits off the table FRYday; 4/22. It is good Friday! EE will be out in foaming at the mouth, rabid force after Easter Sunday; 4/24.

    ReplyDelete
  139. Dollar up, oil down, and yet PM's ( and gold the recent laggard in particular ) very very resilient.
    This is extremely tellin if you ask me. Go ahead, ask me!

    ReplyDelete
  140. Don said... "Apologize for the length of the above posts"

    Eric#1 said... "no no, don't apologize. Good stuff"

    ^This
    Appreciate the footwork, thank you!

    ReplyDelete
  141. The monkeys were unleashed alright. I knew zoo monkeys threw stuff like that at passersby, but apparently flying monkeys are just as bad. I took out a few of 'em before they flew out of range, though. Don't expect them to come back soon.

    ReplyDelete
  142. Really simple question that should be easy.
    Where can I find the comex pit closing number?
    Even 15 minute delayed would be fine, I want the number before lunch time in CA.

    I can find the continuous globex numbers in lots of places, but I cant seem to google my way to comex closing numbers other than the late reports from CME.

    ReplyDelete
  143. I moved 10K into gld and slv on Friday, and despite today's fluctuations, I am very comfortable with the move. I am concerned about cash in the bank and in money markets, Weiss research shows the banks are still in deep trouble, and with the dollar going down, Washington may not be able to bail out the FDIC and the money markets funds may have to break the buck. I will continue to move from dollars to more secure assets.

    ReplyDelete
  144. Rocky Balboa tell the story of silver:

    http://www.youtube.com/watch?v=r3wuXyOUKJw

    ReplyDelete
  145. afrum

    I'm with you. Plan to close out my two SLV calls at the end of this week (I believe that's THU).

    ReplyDelete
  146. Pat, there is a message in there somewhere. ;-)

    oldNavy, have you seen "Freedom to Fascism" yet? I've been long aware of the FairTax movement, and like so many reasonable ideas it is not part of the Plan and so it won't be happening. But more folks should be aware of it...

    ReplyDelete
  147. Higher Highs and Higher Lows since the bottom in Crude @ 107.14... Crude just passed 107.81 which is intra-day resistance.. crude could be back on the upswing, which in turn should be beneficial to gold/silver.

    http://www.futurespros.com/energies/crude-oil-streaming-chart
    (Warning takes a lot of bandwidth)

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  148. As soon as US markets close silver up. What a surprise. Same story for the last year. How can I capitalize on this arbitrage opp?

    ReplyDelete
  149. Xty: Slowly edging up towards 1500.

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  150. Oh! The weeping, wailing, and gnashing of teeth at the EE this week!

    ReplyDelete
  151. Looks like they don't want a $1,500 print in gold, even though it's on Globex.

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  152. Hi All, had a long post @ 11:00 posted to??? Xty, please ignore mean spirited posters we all know what their opinions are worth.they brighten a room just by leaving it.I ENJOY YOUR POSTS!we have an oasis here to help lift each other during troubled times.TO Reach out with contributions of all kinds, financial, spiritual,survival all valuable, all equal. TF and Scott and yourself, as well as many others make this spot brighter

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  153. Listen to what Marc Faber said - Gold Confiscation in US!!!!!!
    http://thenewsunit.blogspot.com/2011/04/marc-faber-expects-us-gold-confiscation.html

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  154. @Paul Breed

    www.goldprice.org

    2/3 of the way down the page is a large streaming chart. At the top left of the chart it will show the current spot price versus last COMEX close. Simple math to get to the close from there.

    The chart by default is $US Gold but there are radio buttons below it and you can figure your way around those and answer your unasked question of why you asked about silver and some helpful person seems to have sent you to gold. Have fun and see the difference in price between US and CD which can be startling.

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  155. Gold confiscation from who? The 1% of the citizenry who own any? Faber is smart, but c'mon, that is silly.

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  156. I'm pretty sure we are going to see that first OMG! moment in the next few days or next week at the latest.
    I am highly encouraged by what we saw in the PM's today and I'm not concerned at all by any red in my accounts that did happen in response to the S&P news/plummet.
    Just remember, we have not yet felt the effects of the Asian markets reaction on this or the London's.
    Hold tightly onto your bull!

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  157. Another post-Comex rally on Globex -- Continuance of trend

    Today, we are seeing another silver rally on the Globex, but only after the Comex closes at 1:30 PM (U.S. Eastern Time). I wonder how long this trend will continue. Will this event become a daily occurence? And what does this trend imply about the overall silver market? Any opinions?

    -- Paul D. Bain
    paulbain@pobox.com

    ReplyDelete
  158. So does that mean you think we are going to be bullish overnight and the next day DarkPurpleHaze?

    ReplyDelete
  159. xty and DarkPurple

    I think you guys will appreciate this. I went to one of my coin shops today and asked the guy if he had anything interesting in gold. He says "What do you find interesting?" I say "Sovereigns, francs...pesos." He says "I have a Mexico 50 Peso". (!!!!!!)

    My tell-tale heart was pounding as he went in the back room to get the treasure. He comes back out, "I was wrong". Heartbreak! Turns out he had a Mexico Onza. It's a one ounce bullion coin. Perfectly nice in it's own right, but not what I had been working up an appetite for. The upside is he said he gets 50's periodically, so he took my name and phone and said he'd call me when one comes in!

    At my other shop, he had a French 20 francs, which was what I was really out looking for. Some Morgan silver dollars said bye bye and that deal was done.

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  160. My strategy of selling miners before close, putting into agq overnight, and buying fresh miner dips has been working. However, short covering will probably commence shortly as this thing goes parabolic. As I've mentioned I'm just following the April '06 silver chart because it is so identical here. I will be conservative, ha!, and sell at 46 before another leg up. Judging by h's chart most people here expect higher by Thursday but I'm content to take 20% since last week and wait it out.

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  161. I think tomorrow we will see 45 silver.

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  162. Are you waiting for fireworks ? Then wait till PIMCO goes long gold. And takes delivery ;)

    ReplyDelete
  163. Besides a mini raid here and there or whatever they may throw at us, it's just not going to matter IMO.
    I don't trade so closely day to day where it makes a difference to me. My calls are out in time and still react to the "today".
    I'm confident and at total ease right now.
    We are going to breach $45 and $1500 soon enough....and then much further. You'll see!
    There will be battle's but they are losing ground and the PM's are advancing.
    It's not like the U.S. or all other paper fiat is going to suddenly get healthy and the debts are going to go away.
    We have to raise the debt ceiling, bottomline. If we don't, the U.S. economy and markets tanks immediately.
    If we do, the dollar tanks and so does the AAA rating. iT's all eventual, just like PM"s going up in response to either of those.
    Ride the bull!

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  164. @oldNavy
    What's "Pailin's proof"?
    I love today and the way 42 was not violated at the low. Will we see 43.50 before 5pm? Maybe, maybe :)

    ReplyDelete
  165. Pailin,

    If you're hanging around I hope you can address I can I have regarding XAG/USD. I started a paper account just to practice for a week before I put my $1k into it. Up over 25% but that's because of the swings. I have some troubles figuring this out and I remember you already touched upon it:

    If I put $1k, all on XAG/USD, what kind of a leverage can I take on expecting that silver moves up/down (down in this case) -6% in one day before I get wiped out? I'm trying to calculate the leverage at which if silver goes does down 6% I am still in the game with atleast $.01. What about the leverage on which I can take on, worst case scenario is the same (Silver dips 6%) and I want half of my money still in the game?

    I remember you posted something regarding this topic but I'm having trouble calculating it based on a $43.50 spot price

    If anyone else has a solution, please let me know. I would really appreciate it.

    Thanks

    ReplyDelete
  166. Johnny - most kind. I did lose my sense of humour briefly but folks have been most kind. And all are welcome to ignore me - sheesh - we all scan the comments.

    Wallace (and Inca, really) - I moved a big chunk of cash into PHY.U on the TSX last week too. Thinking about afrum's words, but certainly the next few days could be disorderly, and I mean that in the nicest most upside-ish way.

    Eric - I was looking at those Onza's on Apmex - lowest I saw over spot this morning I think - but the 50 is just alluring. I'll bet you would have bought it on the spot, so to speak.

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  167. Wow, my spelling is terrible. I meant to say "I hope you can address a question I have"

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  168. I'm still not a believer in the whole "Wynter Benton" story...but...these almost daily Globex rallies are beginning to look like someone/something personally fucking with Blythe on, what had been, her personal playground.

    ReplyDelete
  169. xty

    Yes, I would have worked out the trade, zipped home for the silver, zipped back, and been home free on a 50. Missed it by THAT MUCH!!

    But it still will happen. He'll call.

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  170. Both silver and gold turned on a dime at 1:30. But that is just how a free market works....

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  171. How long until the world's central banks rush to convert some of their soon to be worthless dollar reserves into gold and silver? I would be truly amazed is some were not already moving small amounts into gold and silver on the sly.

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  172. Eric#1...I'm looking into my crystal ball and I see a $50 peso in your very near future :-)

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  173. Don't let em get you down xty, it's only castles burning. Friendly discourse in the midst of the burning has a calming effect.

    Be interesting to see how many want to get into gold under 1500. Be nice to see a breakthrough 1500 on good volume.

    ReplyDelete
  174. Vintage pro-inflation propaganda

    http://www.popmodal.com/video/2066/Vintage-pro-inflation-propaganda#v

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  175. And I wonder how many buys are sitting above that 1500 level? That could trigger a nice move as shorts go to cover.

    wv: chook

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  176. Turd,

    I was never a believer in the WB story.... silver is above 36 dollars and rallying strong. WB stated that would never happen or the derivatives would cause JP to explode... ya right..

    SIlver is rallying because of strong fundamentals that some asshole on the net decided to use to his advantage... Its rallying because its catching up to gold (just like the past PM bull market)...
    Its rallying because of the lack of physical and the desctruction in fiat currency....

    Cheers,

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  177. I didn't get my money order today, because of the ridiculous dollar shenanigans but I see that things have righted themselves and will make sure I get to the bank BEFORE 9:30 and the Canadian dollar is sacrificed on Bernanke's pyre. When I filled out the envelop it turns out the address to send the money order to is in Toronto. I thought that was interesting. I wonder if that is where the coins will come from. I have 5 business days to get them the money so I am fine. The exchange rate was going to cost me almost $30 and it was diving fast. It wasn't so much the money as the principle of the thing. So I have saved $30 by being in a foul humour on account of some bad apples - ha, the best revenge is living well.

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  178. DPH

    Hate to nitpick here, but please stop putting a $ sign in front of the 50. We are talking about "My Precious" here, so let's get it right! :)

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  179. never seen a chart formation like the 30 minute live chart for silver today. Looks like about a weeks worth of energy spent in 1 day.

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  180. It,s nice to see the wench get a taste of her own medicine.all the dough she's cost me and all the other little investors trying to survive.I FART IN HER GENERAL DIRECTION!!

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  181. @ Watcher

    Oanda can hint at this, why don't you take a look for yourself:

    Xag/USD
    http://fxtrade.oanda.com/analysis/forex-order-book#XAG/USD

    Xau/USD
    http://fxtrade.oanda.com/analysis/forex-order-book#XAU/USD

    From OANDA's clients, it looks like the amount of buy orders on Silver into the 50s is vastly overwhelming the shorts. However, with gold there seems to be some more selling pressure over 1500.

    Fun little measure to check out once and a while to see where OANDA traders lie on the spectrum.

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  182. its supposed to be 128 off the hunt corner. the hunt corner needs about 6 adjustments, noyt least that it was back at 13 in 78 days,

    the other adjustments bias the number higher.

    but it can readily see 32 before 62.

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  183. @ Pat & @ RockinJohnny

    WARNING: This rant is all over the place, sorry.
    (And, another coincidence, my word ver = winde!)

    Thanks RockinJ for bringing up this subject because I have been thinking for at least a week that this is a subject we should discuss on this board.

    Gold confiscation is not silly and I think Faber is right on the money. And yes, I put my money where my mouth is - two days after the 2008 election, seeing which way our country was heading, I sent our $$ out of the US into gold vaulted in Switzerland.

    Our country has reached the tipping point where the average family receives more in government handouts than the average family pays out in taxes - and lo! this happened in the US today! (Talk about scary coincidences....).

    In short, the U.S.A. has collectively reached the point where the non-productive majority is living off a productive minority. How can the government keep funding this given that we have reached our debt limit for all practical purposes? What are the options? Where does this country still have wealth that can be taken to fund the handouts to the non-paying majority?

    1. Confiscate real assets in IRAs/401(k) and replace with government paper promises;

    2. Outlaw real money, e.g., gold. Maybe less than 1% of the population owns gold, but that is not the point. The point is the US government must be the power that validates and issues all money. It cannot have a competitor. It is a point of POWER. There can be no challenge to POWER.

    3.4.5.6........

    I can't out-write Marty Armstrong, so here's the link - go read his historical take on this in his April 13, 2011 posting.

    http://www.martinarmstrong.org/economic_projections.htm

    One thing to note in passing: many conservatives like to pretend that we live in a so-called "factual world" while often totally ignoring the less tangible/subjective dimensions in life. GET REAL! PERCEPTION IS EVERYTHING! It's one of the most frustrating things to sit and watch your side getting slaughtered in the court of public opinion because they're not willing to go out and fight the propaganda machine that spins and spews 24/7 against what we believe.

    The left has managed to accomplish their main agenda by politicizing the personal. That is their mantra, "The personal IS the political" or did you just miss that?

    Do you understand what the implications of that are? If you think that the idea of gold confiscation is just silly, you haven't learned that lesson.

    /rant off.

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  184. Im extremely bullish,The EE threw the sink at us and it bounced off. I truely belive they are not grasping what is going on in minds of the peons. Joe six pack aint giveing up his bullion , he bought it "just in case" and hes going to keep buying. Joe sixpack emptied the coin stores, Joe sixpack bought 9 million silver ealges this year, Joe six pack did his part to cause dryness in the physcial market and Joe sixpack doesnt give a rats ass about the daily fluctuations because Joe sixpack knows silver is going up and nothing can shake him . Joe sixpack doesnt care if silver is overbought . Joe sixpack knows the dollar is dying and he isnt going to part with it unless he has to. Nothing the EE can do will change his mind . Joe is going to buy silver low and Joe is going to buy silver high ,and That silver/gold is gone for a loooooong time .

    Joe Sixpack is slowly waking up to fact that the system is stealing from him , and he will respond to protect himself. One by one ounce by ounce. come hell or high water. win lose or draw.

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  185. Doesn't look like any such outside reversal for Blythe. Looks like a plain old new 31 year high for silver. Yawn.
    More market noise and failed suppression attempts by the cartel. Wake us up when we pass $100

    www.silverdoctors.com

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  186. you do not play exponential blowoffs. the arguments remain unimpeded. silver goes back to 30. the turd confirms his nick.

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  187. OMG

    I just caught myself screaming at Ron Insana on the TeeVee. Must....Get....A....Life.

    Screw 'em. Bought some ENY this morning, some TBT this afternoon.

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  188. Thanks for that Scott. Clearly lots of conviction in silver right now....at least on that scale.

    I'm wondering if anyone who is heavy in physical gold is selling gold to buy physical silver at this time?

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  189. Irene,

    You are right on!. I have run my IRA to seven figures by buying Mexican silver stocks. I will turn 55 in 22 months and will start withdrawing as much as possible without losing it all taxes and penelties provided that the goverment has not yet replaced my holdings with treasury bills.

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  190. Didn't Ron Insana blow up his hedge fund?

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  191. I can not wait for the day there is a IGNORE button. My God man, get a grip.
    Did that make you smile? You might examine the reason why it did so.


    Eric#1...Exposing my ignorance here a bit, but what is the symbol for the Peso on my keyboard.
    I haven't been paying attention as I know the symbol isn't $. What is correct?

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