Friday, April 15, 2011

More Friday Fun?

As you know, Friday's have been very good to us lately. Silver, in particular, has had some stellar Friday's of late with stout gains coming after the close, on the Globex, too. No reason not to expect similar strength today.

Let's start today with the only "fly in the ointment", the only "sand in the gears", the only "wrench in the works". (I am Metaphor Man.) Gold. For some reason, whether Cartel-induced or not, gold continues to lack interest in surpassing the 1478-80 area. I don't know why. What I do know is this: if gold continues to fiddle around here, for another hour or two, you can bet your batooty that Blythe will unleash the monkeys to attack it. If they can shove it back and keep it there into the close, the Disinformation Agents will be all over the press and web this weekend proclaiming a double-top. Seen it, hated it, lived it 1000 times. So watch gold this morning. Failure to mount a successful rally through 1480 will almost assuredly bring an EE attack and some long liquidation and it could roll back down below 1470.

Silver, on the other hand, just looks fantastic. Some hesitation in gold may provide some friction in silver. Conversely, silver looks so strong that it may be the catalyst in dragging gold higher, too. I sold my puny, little June 1460 gold call this morning and bought 2 May 44 silvers. This leaves me with May silver calls at 41, 43 and 44. Turd putting his money where his keyboard is.
Lastly, here's an updated picture of the POSX:
Told you I was Metaphor Man today.

The June POSX continues to bounce off of 74.85, 74.65 cash. Why the line was drawn there I have no idea. All I know is that the line has been drawn. I can assure you that we're not the only ones seeing this so expect a sharp dropoff if/when 74.85 is breached today or Sunday night.
OK, that's it. Its 10:00 EDT and I got stuff to do.
Gold has a last of 1478. Watch this closely!
Silver is 42.55 and rolling.
We got em on the run!!! TF


  1. This comment has been removed by the author.

  2. Harold

    Oops, I answered you late on the previous post.

  3. Mining stocks looking for some confirmation that gold is not indeed in a double top (thus silver too). If we can move towards 1500 I would expect mining stocks to get warm. Looking for that moment when the market begins to realize these prices in gold and silver are sticking, so these miners will do very well as a result of that.

  4. @ DPH and Bro D...

    Thanks the the TBT input last night.

    I've been watching it to try to learn it a bit in anticipation of June as well.

  5. Could anyone told me where I can buy silver coin in a more reasonable price?

    someone told me this website can buy it. But they need my SSN. Is it common?

    is a good place for buying? Thanks. I am waiting online.

  6. Something to keep an eye out -- the double short silver ETF: ZSL

  7. xty

    Before you make the last click with APMEX, it might pay to give this one a call and ask about Canadian shipping. The only reason I didn't give it to you last night was I couldn't find anything about Canadian shipping on the site. But you could call and ask. These guys always have competitive prices, plus free shipping (at least here in US).

  8. Have to think that a lot of physical gold interest is going into silver...makes sense that soon as the ratio hits anywhere under 20:1 then this effect will lessen.

  9. TF...the PO$X pics make me bust a gut everytime. Never stop doing that.
    I agree with you, silver will drag gold higher in my viewpoint.

  10. li

    Here is the standard list I give everybody. Happy Hunting!

    And, no, I don't think any of these guys need your social security number.

  11. FRYday cluster flocking begins. CON'dsumer Price Index gives gold/silver a hiccup. What's left is a tiny pin hole for minions of naked silver shorts to squeeze through. Naked silver shorts who have no physical silver to back those shorts. FRYday cluster flocking commences in earnest. dead head fed goons have lost control! Bwahahahahahahahahahahahahahahahahaha

  12. Anybody know how to edit a comment on here?

  13. Dragging this forward into this thread as I feel the Judge warrants it.

    "Regarding FBNews.
    Judge Napolitano is on everyday also, so thats a big reason to tune in. Love the guy!
    I listen to him sometimes and I'm ready to run through a wall of patriotism, figuratively.

    He's on every night at 8:00 p.m. btw in case some of you have not caught him yet."

  14. Turd,

    great work on the charts...

  15. is a good place for buying? Thanks. I am waiting online.


    Been buying from APMEX for 8 years, top notch outfit.

  16. WOW! Here we go!
    I think the shorts must have just abandoned ship!
    Go baby go!

  17. Eric:

    Thanks! I will call

    BTW, I own 500 shares of pslv. Is it smart to unload 100 shares of pslv then buy silver coins. premium is higher in pslv.

  18. Shill:

    it seems offer cheaper price than

  19. Eric#1,
    Hopefully you were only joking when you advised Erica to stash her Gold & Silver in her sock drawer. If not, this would not be recomended.

    Our house was broken into last fall - they were probably in and out in less than 15 minutes. They ransacked our bedroom as well as the bathroom medicine cabinets.

    The sock drawer & other drawers were dumped on the floor and the jewelry box was emptied. They even pulled stuff out from under the bed & dresser.

    Luckily they didn't find the Really Valuable Stuff but they did get away with some very nice, sentimental jewelyr which can not be replaced.

    Three lessons here:
    1. Stash your valuables well. In previous threads there were some very good suggestions. Be creative and think up others.
    2. Go through your house and pretend you are a burglar. Open drawers & look in cabinets. What items do you see that somebody could easliy resell?
    3. Use decoys. Go to a few garage sales and pick yourself up some cheap jewelry, then put it inside a jewelery box in your bedroom. Throw some pocket change in your sock drawer.

    Bonus idea: If you have any painkillers, empty the bottle and put them inside an asprin bottle. Fill the painkiller prescription bottle with laxatives.


  20. @levi. You can edit before you post when on the word verification screen. Afterwards it's delete and post anew.

  21. @Brad -- that's too bad about the Berkey. I have never seen one in person. I set my Mom up with an Aquarain purchased from the internet grocer and the fit and finish were excellent. Mom reports that the water tastes good. I think that they cost less because made in America.

  22. @Afrum

    Our dear resident Sage... What time do the options expire?

    We are looking to Loadddddddd Uppppppp more on the FOREX in XAG/USD

    Thank you.

  23. do you delete a post?

  24. @Mammoth
    "Fill the painkiller prescription bottle with laxatives."

    That sounds like a lawsuit just waiting to happen, the guy turns around and sues you and takes your house.

  25. @levi Look at your post. There is a small trash can beside the date stamp. Click there.

    Only your own posts will have the trash can.

  26. So what do you call a "black swan event" when that's precisely what you expect? Based on the events in Europe (war to their south, lack of Libyan oil imports, further PIIGS debt, just to mention a few highlights) one would not expect to see the euro doing so well. So I watch the EUR/POS pairing for clues. I've been honing in on the Plan for over 50 years and it has become pretty clear by now. The tipping point will come with the total collapse of the dollar, but I expect the euro to die first. Then it'll be a matter of days. For those who think otherwise and that there is some way back to a rational economy: you're missing something fundamental. That's not in the Plan.

    Here's a rant from Charlie: COLLAPSE CRISIS AT HAND but even more interesting are the nearly 200 comments posted in the first 12 hours it's been online.

    Ol' Michael "Brass shines as fair to the ignorant as gold to the goldsmiths."

  27. Questrade emailed me saying my account must have credit for 230pm for my options. But the options are dated for the 16. So I'm also intersted in knowing when options expire

  28. ievi: there is a button allow you to do it. Just watch closely on the screen.

  29. Just look at the double short silver etf getting obliterated....ZSL

    poor bastards...

  30. How about keeping pm's and /or cash in a eggo box in the freezer? Resistant to fire, and burglars might not look there. You could fit a lot of gold coins ina bag of tater tots or gallon bucket of ice cream.

    Loving the silver action today!

  31. Is the rate of appreciation of gold just too slow to make it worthwhile to invest in some of the producers?

    I woke up today just absolutely convinced some of my (producer) shares should have jumped, but they are all down...

    Everyone keeps saying "once gold hits X, then the HUI will blast off" but for the moment, it seems to pay much more to go long the physical than the miners in general...

  32. @averagejoe since they expire tomorrow but there is no trading tomorrow pretty sure they expire end of trading today.
    If you aren't going to exercise them you have to either sell them or fill in a form from the site to expire them worthless.

  33. Great news about your contractor for the Turdesite.

    Let's feed the Turd!

  34. @SilverBleve: freezer is the first place burglars look as they are usually looking for drugs.

  35. "Bonus idea: If you have any painkillers, empty the bottle and put them inside an asprin bottle. Fill the painkiller prescription bottle with laxatives."

    I'd say rat poison, enough to make sure they can't sue you:)

  36. This comment has been removed by the author.

  37. @HappyInTheWoods thanks..i figured out my problem..i wasn't signed in..thanks for your help.

  38. POSX rebounding hurting our rally

  39. The battle ground at 42.66 is intense.

  40. Feelin like a moron. Just bought 10 april 44's at.01 when I meant to buy May 44's at .98. $35 lesson. Would be fun to see a nice $2 jump this afternoon, but will probably have to let the May 44's make up for it soon enough.


    Bank run!

  42. We clear XAG 42.70 and hold for more than a minute or two and I'm adding another lot.

    The top is wide open.

  43. Hey Turd, CNBS just announced after their gold/silver update that some experts are predicting $50 silver in June. Are you a CNBS contributor now? We all know how much of a fan you are of that fine network. ;)

    Added two more miners this morning, decided not to wait all day for a drop like I did yesterday in case we don't get one. Figure if they are going to be long holds I shouldn't get too picky about my buy-in price.

    Hope everyone has a great Friday. We get a two day break and after this week we could all use a breather and reflect on the action we witnessed!

  44. Government Budget Idea:

    In order to make the government more efficient and cost effective, just place the CFTC in charge of the FAA. They would never be caught sleeping in the control tower. Oh, there would be big crashes of course, but the CFTC will always have their eyes wide open.

    They may not answer certain pilots on the radio and they may have a blank, zombie-like, two-mile stare… but they will speak to all pilots and their eyes will always be open.

    With a new CFTC-FAA, only EE registered airlines will be guided to a nice soft landing.

    Non-painted gold or silver aircraft will not be allowed to take off from EE controlled airports. The CFTC has determined that metallic colors are too bright in daylight and their reflections may cause the general public to see them at high altitudes, causing eye strain and neck cramps from looking up.

    EE Airways Slogan… Our Eyes Are Open. Therefore, We Are Not Asleep.

  45. TF wrote:

    "...Failure to mount a successful rally through 1480 will almost assuredly bring an EE attack and some long liquidation and it could roll back down below 1470..."

    Gold looks hemmed in under $1481. A drop to $1470 or below would take silver to under $42.

  46. At this point who I am is not important. That will come in time if warranted. And if so will become known enough in every American household I suppose.

    I have never been interested in being a politician. I fact, I believe career politicians have for certain distorted and all but destroyed the values and honor of our country. Our founding fathers were purposefully not career politicians, they had real world jobs and met only briefly throughout the year to discuss issues and legislate before returning to their individual livelihoods. Over the years the American political system has become a corruption filled game of corporate-interest power-grabbing and self-serving backroom dealing much to the all to often benefit of an elite few at the cost of the very many.

    After the banking crisis, and like many other Americans I’m sure – my view of politics have become inescapable as the broadcast news the daily antics of destructive bickering from both parties as our country seems to waiver on some quality of life abyss. A country seemingly where 2 sets of laws now exist: one for ordinary citizens and another for those of privilege and power. A country where the most powerful men and women go only so far as to censure (think scold) one another without teeth when one of “their own” violates law or ethics. Washington, the entire system, needs cleansing of the filth and corruption. The first step is exposing its motives and behavior to daylight. That’s where I will come in. That’s what I will exclusively stand for. I will become the enema for our body politic. The rest ladies and gentlemen, will be up to you.

  47. What has to happen for the miners to finally take off? I know one has to be patient, but the reaction of some of these miners just goes completely against my intuition.

    I don't understand how we can be in record gold and silver price territory while so many miners are lower than they were one, two ,three or even four months ago.

    Investors in the miners must just not really believe these gold and silver prices are for real, or what?

    Or if it is happening, how does it pay to increase shorts in the miners when gold and silver are rocketing upwards?

  48. Er, it seems as though "part" of the POSX picture is still up...amazing as that may seem!

  49. First Post. I am one of the many silent followers here (via zero hedge) and would greatly appreciate this page continuing! I tend to be a buy and hold investor. In the PM stock bucket, many of my current holdings have been mentioned here.

    I do have two names that I think have long term upside, and I would appreciate the blog’s thoughts: Silver Standard (SSRI) and Yamana Gold (AUY). I think the stock price for each has lagged the value of their reserves. Anyone else follow these two?

    P.S. I cannot remember who first mentioned Endeavour Silver (EXK), but whoever you are: thanks!

  50. I don’t have powerful friends. I am not loyal to a party line. Corporate interests are not my concern. I am merely a proud law-abiding American citizen who is surely full of flaws and more than a bit fed up with the rancid behavior of our leaders. I am brutally honest. And its honesty that seems to be lacking more than ever in Washington.

    I will run for the highest office I can, the US Senate. And if people elect me, I will work diligently for only a single term to expose corruption and seek justice for those who act against the American people’s interests. My role will be to inform the American people of how things really work, naming names to deeds and influences, and bringing true transparency to what we all know has been opaque for far too long. After that term I will step down, and hand that torch to the next proud American who is willing to further the people’s cause.

    I will abstain from most votes on issues of social engineering and of things I don’t pretend to know much about. I will however, keep the public informed daily on what I’m exposed to through a blog and a network of others who will feed from its content. I won’t be in Washington to make friends - that my fellow Americans - you can count on.

    This is my campaign exploratory. If there is willingness for this type of leadership out there I will run for office. If not, I won’t. I don’t want donations, nor a political action committee. The internet can provide the medium for word of mouth awareness among real people, and you provide the audience through your own families, friends and colleagues. I hope the time for such a campaign on ordinary people’s behalf is now. Imagine that, a government by the ordinary people for the ordinary people. Novel huh?

    Again, I have never been interested in being a politician. But someone has to step up.

  51. Shill @10:41, I was going to post a link to this Bank Run post but you beat me to it. Great minds think alike. (or, even a blind squirrel finds a nut every now & then.)

    Excerpt from Jesse's post:
    "Apparently the US dollar is no longer so much a safe haven in that part of the world."

    I can second that - family members in Russia tell me the word on the street is to hold in Euros, not in $USD.

    But, no worries. It's not like we will ever have bank runs here in the US, right?



  52. Mammoth

    It was sort of a rambling metaphor, but not entirely. Yes, you need to seriously consider your secure storage options.

    But, that discussion was in the vein of the pure joy involved in occasionally having some of your gold right in your hand. So, yes, put 98% of your gold and silver somewhere safe and secure, but I see no harm in having a few coins close by and handy that you can jingle around once in a while. That's all part of the joy. ;)


    "[he] revealed Thursday in Brooklyn Federal Court that as part of his deal to turn rat, he gave the feds $7 million hidden in the attic of his Howard Beach mansion and 400 to 500 gold bars squirreled away in his basement"

    betcha the gold vanishes from evidence locker.

  54. @Pailin: It's there now and holding. You in at 42.70?

  55. You want the metaphor, you can't handle the metaphor!!!


  56. 1483.38 $ gogogo

    lets see the 1500 today and monday will be bankrun everywhere ..
    not only in Belarus.

  57. @Mammoth: if it were me, the CHF route would be a relatively better option than EUR.

  58. @JoeKa

    not really - the SNB is loaded till under the roof with EUROs -- so we will sink both

  59. Wow. This is a freaking war this morning. We've seen the EE throw everything at the miners. WE've seen the GDX hammered down only to rebound again and again. I took some profits on EXK at 12.27. Not the high of the day for sure. BUt I just kept waiting for the floor to drop. ANd it hasn't. If we can win the battle today, man this will be bullish.


  60. This comment has been removed by the author.

  61. Eric #1
    Agreed - just make sure that 'close by' location is not a logical place for a burglat to look.

    We do everybody a favor by showing others our 'personal stash. So raise people's awareness of the value of Real Money by flashing them (with your PM's).

    And keeping the coins in a purple Crown Royal bag does add a nice touch.

  62. Cranky moment, but could we skip all the first nonsense? Wasting like 10 posts, and then we go over 200. I know I post frivolous crap too, but can you put some more thought into it, please?

    Eric - too late - I was probably hitting that button as you typed your post. Was all over the internet last night and this morning, and honestly the price was going to rise before I found much of a better deal. I picked paying in American dollars, but it turns out they won't take a credit card on international orders (and their web site doesn't work on the secure checkout on Safari, had to use Firefox), so I am off to the bank to get a money order. As I was looking, I realized I didn't really care if it cost me $100 too much - I am a true believer, and when gold is at 2000, or 5000, I will simply be delighted that I bought these now. And when I came back from all of this, and read Turd's post, I checked Forex, and gold was at 1481 - and still up there - here we go?

  63. so that's why I suggested the Swiss Franc over the Euro or the USD...unless i'm missing what you actually said. :P

  64. I'm typing with one hand, and jingling a pair of Double Eagles right now! LOL

    1906-S and 1896-S. In pretty rough shape, but gold is gold!

  65. Trim oil, metals holdings near-term: Goldman Sachs

    I frown upon fowl language on a forum of this caliber, but please excuse me Turd..Fuck you Goldman Sachs...there I said it :)

  66. I might have to get a gold hat now, this is addictive.

  67. Daniel....Bravo!

    I feel the same things at times.
    You must be a Judge Napolitano follower also.

  68. Someone posted these Silver proof quarters the US Mint is selling on ZH last night.

    I think their .9 oz of silver in each set, and they are asking $41.95. Shipping is only $4.95 per order of as many sets as you wish. Looks like a bargain.

  69. @Eric: damn! sweet coins you have jiggling over there mate.

  70. CNI in Englewood Calif is agreat place to buy precious metals and they do not ask of tax id or ssi California numismatics...silver rounds spot plus $1.30 buyback is spot plus. .20cents

  71. xty

    Using money order instead of credit card saves you money anyway doesn't it? Not a bad thing, just maybe slows down delivery is all.

  72. Interesting article on Jesse's sight.

  73. Eric#1...Your making me a bit crazy with the coin in your hands talk. Don't stop, ever!

    After keeping up on your dialogue with XTY about double eagles and mexican coins etc., I feel the need to get one or the other.
    That big Mexican coin is beautiful and the St. Gaudens would be nice also.
    So many choices.

  74. @li

    Nobody needs your SSN to sell you anything.

    Fidelity is probably complying, they think, with some article of the Patriot Act which requires banks to act as government watchdogs. Run, like the wind to another source!

  75. xty

    a little bit ago I went to the bunker and retreived a couple of my own Double Eagles just to make sure it's as awesome to get my paws all over them as what I've been saying.


  76. Berkey Filters - my brother bought one for the cottage, used it for two summers, drinking lake water right from the Georgian Bay and it has worked beautifully. The spigot sometimes dripped but we just put a bowl on the floor below it, and the dog was very happy.

  77. Michael...The black swan event(s) are obvious to us for the most part. We are the 1% IMO that "get it" and are on the look out and ahead of the MSM game.
    The thing I think most of us (myself included) have to gaurd against is to always be aware of the blind spot that exists within all of us.

    For example, regardless of what "the spot" might be at any given time, how many times have we thought to ourselves " Damn, that's so obvious, I should have seen that coming or I knew that the whole time but lost track of it"

    The blind spot is what we, the 1% er's, have to stay aware of.

  78. This comment has been removed by the author.

  79. @JoeKa
    Yep, bought at 42.75 (w/spread) but with a stop at 42.50 on just that position, not core.
    Don't want it to get away from me in case the movement doesn't confirm.


  80. Eric#1

    Thanks again. I screwed up the bookmark before. Wrong site, all straight now. Duh.

  81. Eric: Ok that's enough!

    -- saunters down to own 'bunker' to jiggle his Perth Mint lunars --


  82. I buy locally in MD at Golden Eagle Coins in Laual. Almost always have stock. No questions asked and no sales tax if you buy over $1000.

  83. Yup - the money order saves 3%, which is considerable. And I had to go to the bank anyway. They say 5-10 business days or some such - it wasn't a lot. I am actually thinking that if the price goes up, as I anticipate, while I am waiting, they will somehow seem even more spectacular. But now I just want them.

  84. Time for a miny rant.

    I am soooooo fucking tired of watching this pairs trade. These guys shorting the miners are going to blow up their funds while trying to participate in the bull market of this century.

    How can anyone short something with cash flow leverage to something else that they are long.


    It will unwind like the other insane pairs trade of long oil short ohi. Those fucking retards got smoked as well.

    Sorry for the interuption in normal comment reading. I will go back to my couch now.

  85. I should probably post a disclaimer to my first 2 posts, and for all future posts. "My sole purpose in life is to serve as a warning to others. I started out with nothing, and still have most of it. I'm about $1.5 million away from being a millionaire." 'sigh'

  86. DarkPurple

    Brad loves those Mex 50 pesos. Huge Honkers! I have some Mex 20 pesos and they are for sure an exceptionally beautiful coin. They all sell at reasonably low premiums over melt.

  87. @Pailin: this XAU hesitancy is keeping me reluctant to stuff some powder in the barrel. Still a spectator.

  88. "Huge Honkers"

    I was talking about the size of the coins, not the, um..., things on the front there..

  89. Part of what Stewart Thompson posted this morning

    Double tops are 2 months apart, not 2 days. But such minor rules of technical analysis won’t stop master traders like Sad Sack from shorting once again. “Me get da top, dis time me extra smarty pants!” -Not You, April 15, 2011, in the silver market!

    3. Silver is in a PARALLEL UPCHANNEL and the high at $42 set two days ago is the upper part of that channel. There is no double top, and those WHO NEVER LIVED THE 1970S BULL simply…

    4. DO NOT UNDERSTAND. Silver and Gold can rise in overbought conditions in parabolic moves that leave the top callers INSANE.

    5. I told you repeatedly that what is coming in 2011, particularly in the 2nd half, is volatility that blows your minds, and blows ALL TIMERS TO SMITHEREENS. This action in silver is a MICROSCOPIC WARM-UP compared to what is coming. Most of the timers around now never lived the bull of the 1970s, and those that did either shorted into it and blew up or held the bag on the longside from $887, straight into the DUMPSTER.

  90. Gold up. SIlver roaring. Dow up 33. GDX down. Just another day in the precious metals maniputation.


  91. While we are enjoying the show today, I would like to share an excellent source of heirloomed, non-messed with seeds with you. Since I have been soaking up mega knowlege from all of you, I can at least offer this to my fellow Turdies, as I am a newbie (since Feb) to most of what is discussed here...btw, THANK YOU!

  92. Politics. Games for little children.

    Obama unplugged, tells Republicans: 'You think we're stupid?'

  93. I have been kicked out of better homes than this.

  94. @ LI

    AMPEX and Gainsville Coins are 2 places I have done a lot of orders from. Both good. I think Gainsville has better turn around.

    Funny you should mention Fidelitrade. I actually have allocated gold, silver and plat stored in their vaults. It's not really a place you'd just call to order coins from -- they mostly deal with big funds (I've heard they are one of the biggest private bullion holders). The only reason I've done this is that most of my holdings are with Fidelity. They can hook up your on-line account w/ your PM holdings. Now, when I sign in I see my PM positions right along with all my other funds -- pretty cool. You can choose to have a private or grouped PM holdings with them. I chose private because there should be a box with my name on it and I'm willing to pay the small extra storage fee.

  95. One question:

    It looks if I go to local dealer, I will get cheaper price since I don't need to pay shipping fee, am I correct?

    I can get one american eagle for 47.47, a good deal?

  96. pathoekstra said...
    Are you Alan Grayson?

    No, but he did begin to expose in his ahem, own way didn't he.

  97. Gold is relentless today. New High 1485.7 @ 8:19 PST (11:19 EST)

  98. Daniel,

    This is a long interview, but if you take the time to read it, I am sure it will open your eyes as to what we are up against.

    Good luck with the run for the Senate.

  99. anyone know where i can get chart of gold and silver futures in the late 70s and 80s. i would really like perspective on how it did during that run, particularly on how big the retracements were during the climb.

  100. Cant believe this, gold and silver at record high and soaring with the miners squeezed down in the dirt...unbelievable!

  101. My opinion is that miners are lagging here due to price suppression from OE and this is all. Normally they would be rocketing up with Gold approaching 1500 as it is.

  102. Daniel's intentions are fine. But it's too little and too late. Electoral politics are simply theater for the (serious) masses, as sports and entertainment are theater for everyone else. P.S. Daniel, it's been done...and it won't work, but ya gotta admire a guy for trying.

    Mostly I prefer small fractionals now. Haven't had a 50 peso piece in quite a while (though I do miss 'em as the double-eagles just don't have the same heft) and the one ounce bits might be just a bit hard to make change for. Half-eagles, sovereigns, tenth ouncers - they don't have quite the same problem. ;-)

    Ol' Michael "...paper is paper, and money is money." - T. Paine.

  103. Anybody think this is the spot to start a short position in the long treasury bond? TBT 36.98?

  104. Li

    You should always check out your local dealers. That's a constant recommendation. Compare prices and decide. For me it's always about the shipping charge for going online vs the sales tax for going local.

    But there's no substitute for getting to know a good local shop. Good deals, good prices, he keeps you in mind, good swaps of silver for gold or visa versa, and this is the guy you want to sell to someday. If you find a good local shop, you want to be on a first name basis with the guy.

  105. sp

    just google it. I know I've found and posted some good ones in the past. No time now, but it doesn't take long to find.

  106. Eric#1...What Mexican coin do you recommend based on a combo of beauty, size and valuation and the "cool to just be able to have in your hand" formula?

    I'm pretty interested and somewhat drooling at the prospect almost as much as bacon (there, I said it) makes me drool.

  107. @li usually has the lowest or very close to the lowest premium (and doesn't charge shipping), but they only sell in large quantities. it is a good place to check out premium and if you are going to a local dealer, it is not unreasonable to say "you know i found ASEs at tulving for spot+3.49 (46.20ish right now), but I'd rather buy from a local like yourself where i can form a long term business relationship. is there any way we can split the difference on the premium over spot?" worst the dealer can do is say no. best is that you form a good relationship and get to continue to get a discount on premium. also use cash for purchases, save receipts, and don't purchase more than $9,800 (in the US) from the same dealer in the same 48 hours (at 10K has to report the sale to federal government, if he has the feeling you are trying to avoid a 10K cash transaction - he also is supposed to report to the govt).

    btw, I have ordered from,, and, and found tulving was the least sophisticated, but by far the fastest and smoothest service, gainesville was 2nd, and NWT mint said they would get me ASEs in 2-3 weeks and it took 6. People have complained about NWTmint; I trust NWT mint to provide me with my PMs, I just think they are dishonest about the time so they can make the sale. I have never ordered from APMEX, I tend to think their premiums are higher and I don't have to pay shipping at NWTmint (local).

  108. As You all may have noticed that Vietnam and Belarus didn't halt sales of silver...

    Load up!

  109. Just stepped in from mailing my taxes out and ...Wow, oil, Au and Ag still going up.

    I might be out of the market today this afternoon and take the profits I should have taken last friday. I sense a margin hike later at this rate on the PM's.
    We shall see.

  110. Eric#1 and My.Harbl.Testes:

    Thank you very much! These are very very useful information for me.

  111. When i figure out how to set up a blog I hope to post the detail here. From there whomever's willing to play along is welcome. Thank you.

  112. @atlee:

    u mean for a long-term few month hold or for short term, few weeks? r u saying this b/c fundamentals (which to me haven't changed in past few months) or b/c it is about to kiss 200dma


    yea i did google it & found a ton of garbage, will have to sort through again. my brokerage platform is not very good at stuff before the 90s.

  113. DarkPurple

    Lordy, buddy, I don't know.

    I don't have a 50 peso yet. I went to my best local shop and he said he hasn't seen one in 6 months. But at 1.20 oz of gold, that's a huge coin and some serious "in the palm of your hand satisfaction" right there.

    Just starting out? Get a 50 peso and then later a 20 peso, or one of each right now, and decide from there. Price wise, both are uber cheap vs melt right now.

    Brad??? If you are out there, help DarkPurple out here please!!

  114. Atlee,

    I wouldnt play TBT options, but every month I throw $1000 bucks in and build my core position of shares...too hard to time TBT but great to buy and hold for the day we all know is coming, just may take a few years

    I sort of treat TBT like bullion and average in every month

  115. I have noticed that the Mexican coins sell for less than their silver content on ebay and in local shops...

    New high in AG 40.80. This doesn't look like a double top to me!

    Any rumors of a margin hike today? The last one on 3-24 when AG was 38.12 was leaked to insiders and the selloff began at 12:20 EST. Official word came, of course, after the close.

    Verification: afressum

  116. For those Turdites who trade the miners Stewart said this. It is encouraging if you can hold on:

    6. Gold Shrink sent me several emails yesterday voicing his SEVERE CONCERN that gold stocks may be about to LAUNCH HIGHER NOW, ironically, just as the gold community engages in a mass towel throwing contest.

    7. Most gold stocks are below the levels of 2006, and GOLDLION said to me last nite, “the level of apathy in gold stocks is worse today than in 2002”.

    8. All the ingredients are in place for an astroblast higher. I am personally moving funds to INCREASE my trading gold stock ETFs to what can only be described as “beyond the beyond of HYPER LONG SIDE ONLY TRADING”.

    9. This, while my competition works maniacally to chain themselves to the USD photocopier machine. What a horror. The banksters are very close to launching a BLITZKRIEG on the dollar, and most gold stock investors are on the verge of BUYING THE DOLLAR just as that happens.

    10. Don’t drink the SWILL sold to you by the top callers. Most of them are LIFETIME MARKET LOSERS who don’t have a single CLUE what is going on in the CRISIS, let alone in the gold market.

    11. “Gold is going ballistic. We are on the threshold of the phenomena of 1979. Gold is getting ready to go ballistic. $1650 will fall like it did not even exist.” –Jim Sinclair, April 14, 2011.

    12. Those of us who lived the 1979 show and REALLY sold out at the top and STAYED OUT can FEEL the gold market. It’s like a PERSON and it is COMMUNICATING NOW. The gold market is not speaking. It is SCREAMING.

    13. The gold market is poised to go “ballistic beyond ballistic”. RIGHT THIS SECOND. The group of shorty pants players who think they have a margin problem NOW in the gold and silver markets are going to get a major lesson in what it feels like to be naked short the ultimate asset when it puts on its ultimate performance.

    14. The first hint came when the banksters blew out 50,000 shorts and piled on longs in the biggest hour of trading in a month, the hour of the 1445 lows. Those lows are toast, and the top callers are going to the financial gas chamber, permanently.

  117. @sp

    Short term. What you cited + near top of trading channel, (30 bond) big drop in rate on fake cpi.

  118. 23. If you look back at the goldman sachs call, you will realize it was a BULL CALL, not a bear call. The game was to distract the institutional money managers from gold so only the banksters (and the gold community like fish riding a shark) make all the money as gold goes totally ballistic. Then they dump it on the taxpayers via maniacal central bank buy programs thru the LBMA, which is where the banksters will unload their physical onto the taxpayers.

    24. Huge panic will occur as the banksters implode the bond. They will then attack the dollar, ostensibly to “save the bond” because “high rates now would be Armageddon”. Unknown to Fudd and the institutional money managers, high rates are coming anyways. The banksters are like a terrorist that promises to let you live, then when they get the ransom money they kill you anyways. That’s the EXACT plan they have for Fudd; they’ll tell the idiot that they have to wreck the world’s paper currencies to save Fudd from high rates. Once Fudd agrees, they’ll jack rates to the sky anyways and Fudd does a swandive… face first onto the breadline cement.

  119. sp

    Here, this is the good one I was thinking of. You can pick which year. And I think there's a way to get to some gold charts too.

  120. For those of you who are interested in buying physical here is a link: to buy almost directly from silver producer Great Panther Silver Ltd. They sell with very low premiums, but their only have 3 different bullions for sale. 1 oz rounds, 5 oz and 10 oz bullions... What I like the most that is the price is the same no matter how you pay for the silver. You can also pay with a PayPal. I have made a two purchases already, and all three bullions look great. Their bullions are actually made by Northwest Territorial Mint.

  121. I remember it was almost 5 years ago when I plunked 95% of my liquid networth (think big) into gold and silver. At the time even gold bugs and kitco members thought it was excessive and that I am risking too much, blah blah blah. Peter Schiff, Faber and Rogers were bulls but they advised measly allocation percentages, I thought they were wrong and pretty much went all in. Man, am I happy. Sad at the same time because I understand what this ultimately means, which is famine, destruction and ultimately war is upon us. Hat tip to you Mr. Ferguson and may you all prosper and survive. Have a good week-end everyone.

  122. @Eric et al

    I am curious how the stock of gold has been flowing in comparison to silver at peoples local dealers lately? Thanks for your insights.

  123. This comment has been removed by a blog administrator.

  124. These Double Eagles jingling in my hands: I know I "paid too much" for them way back in the day. Now they are up 3 or 4 fold. Don't sweat it.

  125. CNBC just ran a segment where they interviewed average people who had bought physical silver and were now selling all or part. One guy said that some friends/relatives were asking him about silver, so he took that as a sign to sell.

    Paper lasts a lot longer than silver does, right?

  126. You absolutely have the best leverage in the mining stocks over the rise in bullion. I have bullion but most is in the junior miners. A basket of them is most effective. Here is what I have working:


  127. @eric#1:

    wonderful site, just what i needed. thx - i had a feeling someone on here would be more helpful than sergey or larry

  128. Robert

    I think the concensus has been that silver continues to turn over really fast. Lots coming in, lots going out. If you are not there at the right time, there won't be any there.

    Gold maybe moving a little slower. But in my shops at least, not much actually coming in the door at all.

    Been a week or so since I took a good survey.

  129. Fortinbras,
    Just got in TBT @36.99. Nothing big, just enough to make it worth my while when it gets to 39. I'll let you know when I'm out.

  130. Wow, I thought I was a litte goofy for having way too many miners. Now I don't feel so bad...

    MOre power to ya Stan!

  131. Ciro...ditto (except for the 5 years part but I'm probably older than you) and yes, it feels good to know that one is prepared but it feels awful to watch the tsunami approach. It's batten down the hatches time, methinks.

    Ol' Michael
    "As every thread of gold is valuable, so is every moment of time." - John Mason

  132. Silver Cell,

    Spot on. Nothing more to say than thank you for exposing everyone to the right information.

    My favorite:

    14. The first hint came when the banksters blew out 50,000 shorts and piled on longs in the biggest hour of trading in a month, the hour of the 1445 lows. Those lows are toast, and the top callers are going to the financial gas chamber, permanently.


  133. Atlee...

    Go back to the last full section from last nights thread (I think it is now 2 threads ago)...

    I asked what people thought about playing TBT and Bro D and DPH came back with some good comments.

    One of them had been playing the 37-39 range, but both agreed that they were probably going to just "watch and see" until Junish/theoretical end of QE.

    I was thinking more like the poster above and using it more like a holding or how we've played AGQ if it starts moving like AGQ.

  134. Shorts getting blown out. Run for the exits Pigmen! Run, Forrest- RUN!

  135. Thanks Eric#1

    A couple observations...
    I should follow my gut more often as CDE is proving today. I said yesterday on here that CDE is sure looking good at it's low yesterday based on worry etc. Just look at it now and volume is up. (Note to your gut more often)

    Concerning SLW and it's action or lack of relative to the Ag price action.
    Much has been said on here about what happens when Ag matches JPM's share price.
    Think about this...what happens when Ag's price catches SLW???
    Something is up and I think TPTB at the EE or wherever are somehow holding this back trying to get holders of SLW to bail out.
    What do you think is going to happen to SLW when Ag either catches up to SLW or gets really close like it's starting to do? If it actually surpasses SLW...look out and get into SLW fast IMHO.

    Friggin' SLW is going to slam up towards approx. $50 is my call on this board today.
    Within 2 weeks IMHO.
    I don't care if I'm wrong or get called out for it, but SLW is going to slam up in a $3-$4 move within 2 weeks.
    The Ag to SLW ratio is rarely this close. Go check it out.
    "All at once" is what I'm saying and have been saying. This will happen when we get a $3 Ag rise in one day and my gut is telling me it's coming very soon. I said yesterday that $3 is going to happen by next Friday. We'll see, but 2 weeks seems safer , but so what about safe?
    Everything I said above is going to happen. Not because I know based on technicals etc. but the totality of this situation we are in as far as Ag and Au. Were in uncharted territory.
    Just watch!

  136. Silver Cell. Sorry for lag time. Computer problem! All 3 ticker symbols are off the april board as you watch gld/slv soar. Shorts again trampling over one another to get out over the weekend. 4 ticker symbols expire 10 min after regular nasdog session ends today; 4:10pm est. We do have a crimex gold/silver options expiry coming as well. It will likely be Monday, 4/25 ahead of the FOMC 4/26-27. I'd imagine the week of the FOMC, after OEX on the crimex. Metals to be hit as is standard operating procedure for gathering of the dead head feds.

  137. Though I would try to post this picture of Blythe Masters and her bad morning... ever word verif: Blyme

  138. Bro D....Very nice, very nice.
    Good timing and forethought.

  139. Crude is going nuts like our PM's.
    Something big is up. We just don't know what it is exactly right now.

  140. silver cell, where do i find that stewart thompson analysis? thanks

  141. Ok, I'm betting the farm on silver mines (SIL) there's no way it can't keep this low valuation relative to price of the metal!!!! GERONIMOOOO!

  142. Crude back to $110 in 5, 4, 3, ..

  143. Incredible action today. I keep expecting a raid.

  144. @ Fortinbra
    @Bro D

    I also purchased TBT this morning at 36.98. Have limit for 2nd half of position at 36.61.
    With Bro. Think good trade to 39.

  145. Atlee,

    Carl Futia sees 30 year bond yields going to 5.40%.

    TBT would be a nice way to play it. If rates retreat from there, however, sell TBT.


  146. We are going to hit $43 pretty soon and then it's going to start to run a bit before it gets nipped by the margin hikes.
    I'll be shocked if they don't hike them today.

  147. Time for bed.
    Goodnight all. Wishing you a fabulous weekend!

  148. Dear Turd,

    Are you concerned that silver miners are kinda lagging silver price at the moment? Red flag?


  149. I hope we get a lot of EE raids next week so the silver is not going to $50 as fast as it is going right now. I thik it's in our own interests to have VERY SLOW growth because we need to acumulate physical as long as possible. If it goes to $100 tomorrow then most of us are still fucked by surprise except this guy who has 2 metric tons hidden in a lake :)

  150. No mention of the TIC data yet? Ok here you go.

    Foreign holdings of dollar-denominated short-term U.S. securities, including U.S. Treasury bills and other custody liabilities, **decreased $1.8 billion. Foreign holdings of U.S. Treasury bills decreased $9.3 billion.**

    Banks’ own net dollar-denominated liabilities to foreign residents increased $83.3 billion.

    Monthly net TIC flows were $97.7 billion. Of this, net foreign private flows were $92.6 billion, and net foreign official flows were $5.1 billion.

  151. Oil up 1.7% and counting after a margin hike..

  152. @Scottj88 You are welcome. That news was certainly encouraging.

    @afrum Sir no problem and I greatly appreciate you taking the time to respond to me. I am in @ 42.78 and looking to add more pos....

    @ciro He has a paid subscriber service. I think it is $149 a year.

    He sounds extreme at times but has been spot on predicting the big picture. He is big on gold and silver miners and ETFs.

    The thing we should all prepare for is volatility. Great if you day trade with leverage with positions LESS than rational.

    Turd of course is the MAIN MAN!

  153. Thanks DPH, and for the record, I also added some gold and silver options this morning. I've never been in a bull market like PMs are in now. It is absolutely breathtaking!

  154. I just liquidated nearly everything. Only remaining, representing about 30% of holdings, are SLV and SLW May and June calls that are already up over 100% with trailing stops, some spec PAAS and CDE June calls in case Bolivia cools off, and a two dozen $30 June VXX calls I picked up today.

    I have enough silver plays to profit well and not feel like I missed out if it just continues it's march toward $50, but between the imminent collapse of Europe part II, and the short-term sword of Damocles (ie - the fact that if the cartel doesn't do something soon, these high silver and gold prices are going to destroy them), I just think there is too great of a chance that a near-term atomic bomb is on the horizon. The cartel WILL crash the entire market, if they have to, in order to bring down the prices of silver and gold. Don't make the mistake of thinking they would be killing themselves by doing so. It would be an orchestrated event, and they would be perfectly positioned to short the market on the way down to cover what losses they still had from their PM shorts.

    I still hold half my entire net worth in physical and that's not going anywhere; I'm speaking strictly of my trading account. I just don't see any way the cartel doesn't at least pretend that QE3 will end as its best opportunity to crush PMs one last time. And, again, it will crush the rest of the market, but they'll just be positioned to profit from it. As an article from ZH mentioned today, Bill Gross certainly thinks QE is going to end, at least for a time, and interest rates will rise as a result. I think that QE will be brought back quickly, or at least, the effects of stealth QE-like programs will be apparent quickly, but that won't stop the immediate panic from crushing everything at first.

    I would even bet that the trader who put $1 million down on the ridiculously out of the money July silver options is thinking of nothing other than this possibility.


  155. I am not saying I cant stand the prosperity BUT. Considering the last 2 days run, I have to book some AGQ profits by the close today. Maybe right here around 43. Been a great move. Staying with core long term positions.

  156. Yup! Hardly 1 in a million caught the silver run up in a big way. Over 130% move in 52wk and over 25% the month of April.. As spoken by others. Shorts will get run over, as the silver bullet freight train pulls out of warp 1 into warp 2!

  157. Good ZH article for us TBT fans.

  158. A relatively slow collapse is in the Plan. Me, I hope it fails and the dollar revaluation comes much sooner than later for 2 principle reasons. 1.) The longer it takes, the overall greater pain to the masses and the greater profits to TPTB and the GMF's, and 2.) the sooner it happens the sooner we can start to re-acclimate and rebuild. So, "be careful what you wish for..." :-)

    Ol' Michael

  159. Finnegan...

    My view is pretty much the same... they will do something to take out an entire asset class... maybe two. Then more QE or whatever you want to call it.

    I'm not worried about the physical either, or my real estate... it's the "anything in paper" that's going to get dicey and it will happen overnight fast when it hits... IMHO.

  160. Silver Cell

    Thanks for the post.

  161. AG look out below... .30 in 5 minutes
    Margin hike? A dip?

  162. Here comes Blythe
    20c in 5min

  163. confucius say:
    "man with new generator eagerly awaits blackout"

  164. Atlee...

    As usual, I'm with ya. My AGQ has made CRAZY money in the last 48 hours... I hate going into the weekend and not trimming some of it. I'm watching for a sell point or at the close too.

  165. Harvey,

    If you're around today, enjoying your posts on Stocktwits. Would be interested in anything else on your mind.

  166. Atlee, most wise. But it is also true that when the blackout is inevitable, man with old generator still hopes that he knows how to make it work... ;-)

    Ol' Michael

    P.S. Ain't easy trying to juggle while riding a roller-coaster.

  167. Bob Chapman sees default on crimex somewhere beyond 48 spot. Then a quick run to 100 spot on silver as the bankster fraudsters have no way of shitting vermin way out of empty silver bullion vaults. Important at this juncture to keep some skin in the game; especially with Ted Butler's 10-20 dollar move call, he never does this, and Willie chiming in. Just be wise in your paper chasing for profits to get physical. Systemic failure of the USD is popping up all over the place and some are great marketeers; ie Richard Russell tops.

  168. Yesterday I had the feeling I was trying to catch a falling knife with SAC.TO.. But it just had to rebound since it was down 25% yesterday alone (x10 times volume).. Today it's up almost 20% ;)

    But still it sux miners underperforming when POG/POS rises and overreact to the downside when a correction is taking place..

    Already looking forward to monday.. Hopefully not the same as last week.

  169. @ atlee. lol about generator. I sold almost everything at 12:07 just because I couldn't stand it anymore.

    bought back in just now. about 1/4. I can afford that.

  170. sold my 30 shares of agq, waiting for 42.20 to go back in

  171. Am I being too simplistic in thinking that part of the reason the miners haven't kept up with the bullion prices is because April stock options expire today?

    It seems to me this happens around the 3rd Friday of every month, but perhaps the life of a rock star has caught up with me....

  172. Bill Downey's Look at Today's Charts:

    The push back up to new high's from gold's retest this week of 1444 continues to favor the bulls. Resistance is the 1480-1488 area and then the 1515-1525 zone as we move towards Monday. Support is the 1457-1463 zone on pullbacks. As long as price is above the 1444 area ---- the trend remains up. The market remains strong and favors higher prices into next week.


    From this it looks as if once we pass 1488, we may be on our way to 1500+. That is maybe why we hit some stark downward movement here. Give it time, it is coming.

  173. @atlee. But I am still holding some of what I bought monday to try your 'proven' buy-and-hold of a leveraged fund. Still bullish this will be $45 before long but I have a conservative side that made me pull money off the table.

  174. Morgan Stanley fund fails to repay $3.3 bn debt on Tokyo property

    Yet if you walk away they want your first born...@#$%&! the bankers!

  175. @ Happy, Fortinbra and SP
    Great trades guys!

    @ Michael
    thanks for the chuckle

  176. Any long time CNBC watcher will know Joe Battipaglia. I've loved him, I've hated him, but rest in peace Joe. 55 is way too young. My best wishes to your family.

  177. Bro D...
    Glad to hear you picked up some Au and Ag action.
    I just dumped my GG Jan 12 $80 calls and made another quick $1k this week.
    Not as much as last week but I can always buy it back next week with more ammo, which is what I have been doing the last few couple of weeks.

    Holding my SLW for the reasons I outlined in a earlier post and will add to that next week when it seems right.
    This is too much fun and profitable. Thanks TF for the advice and confidence building aspect of this also. There is indeed strength and confidence in numbers.
    The Turd will get fed this weekend again.
    I'm retired (from a real job) so the extra $$$ is always nice to see happen.
    This is selfish of me to say, but I'm hoping for a pull back early next week to buy some phys Ag and Ag.
    Even if it doesn't pull back, who cares really?
    In the long run, the extra $1-$2 savings isn't going to mean much.
    Having said that, I don't like paying more then necessary or the premiums but in the end it won't matter being pennywise to some extent with our purchases.
    "Get it, while the gettings good" is what I say.

    Good luck. I'm watching TBT and the long bond right there with you.

  178. atlee. Blind luck and controlling the greed play a factor. Dunno if you got out then or not but I'm pretty sure it'll hit that price again before end of day. And if not then it's just next week which is what your august buys show.

  179. I am new here. Turd mentioned 2 May 44 silvers. Is this an option? Thanks

  180. @afrum:

    could u pls provide ted butler link?

  181. Very nice all. The Force is with you.

  182. Well I just shorted XAG. Call me a fool :)

  183. Eric#1...Echoing you on Joe Battipaglia.
    I liked his personality, style and calm insights.
    He will be missed for sure.
    RIP Joe!

  184. Re: buying silver coins & bullion in Canada

    I have bought silver three times from these guys in Alberta:

    Although they don't have a huge selection of items to choose from, they do have good prices, and fast delivery. Whenever I have ordered from them, they have shipped within a couple of business days after receiving payment.

  185. miked


    Ok, feel better now?

  186. Hi Guys,

    Give this a read and some comment. I'd be interested to hear some feed back on it.

    It seems plausible to me but for the effect of rising interest of this nature on the governments debt load.

  187. Bob Chapman is on Alex Jones today:

    Alex also talks with Lloyd Chapman, president and founder of the American Small Business League, and regular Friday guest Bob Chapman, publisher of the International Forecaster.