Wednesday, April 27, 2011

Very Impressive Predictions

And the winner of today's contest is....

Well, its a tie. Two entries were for exactly $1575. The actual final number was 1575.07. Looks like I'm sending out two hats this time! One goes to "Doug" and the other goes to "kiwiquest". I'm also going to send one to "H" who selflessly took the time to create the spreadsheet of all the guesses.
Would all three of you please email me at with your mailing address? Thanks!

Just a quick followup to today's action. First of all some clarification...
The "self-glorification" some saw in the last post was not intentional and I hope you didn't take it that way. Managing and growing this blog is interesting and quite challenging. When I make posts like the last one, they are simply a reminder to all readers that this blog has been extraordinarily accurate in predicting price action in the PMs. And it's FREE! It's free and it will remain free because I feel it is our duty to help as many as possible prepare for what is, most assuredly, coming. Your duty is to spread the word. Things go viral because of the exponential effect of the internet. I remind you of the accuracy here not to give myself "atta-boys", I do it to prompt you to tell others to visit here.

Now, look at these two great charts. First, silver. The action on Monday was real so I can't take the whiteout to it. However, if you ignore it, the chart looks pretty impressive. Given today's events, I can't imagine that silver won't head UP from here and test the highs of Sunday night near $50. After a pause there, I would still expect a move through $50, perhaps as high as $52 next week before the next pullback.

The gold chart is particularly fun. You know how I like patterns. Take a look at the one I found on the four-hour chart!
How about that?!?!
Gold moves UP $75 and finally takes out resistance around 1440.
Gold then retreats $25.
Gold moves UP $75 and takes out resistance at $1500.
Gold then retreats $25.
No reason not to think that gold isn't currently in the middle of the next $75 UP move which would take it to about $1560. From there, a pullback in the May 12-20 timeframe I keep mentioning and then a blastoff to my predicted high of $1600 before 6/10/11.
Works for me!!

OK, that's it for now. Again, congratulations to our winners and thanks to all who played. Rest well. Be happy. Smile often. Get ready for tomorrow. TF out.

8:10 pm EDT UPDATE:
Lots of great stuff on ZH tonight but you absolutely, positively must read this:
I was interviewed last Friday evening by the WebBotForum. I told them at the time that this "Scotia Announcement" might be something that we look back upon in a few months as the turning point...sort of like how one angry, self-immolating peasant in Tunisia can set in place a chain of events that is leading to massive change in the entire MENA region. In all seriousness, this may be nothing. Just more windmills at which The Turd can tilt. However, it might also be the event that finally causes the collapse of the entire Comex/Cartel/TBTF complex. Time will tell.


  1. Yeah, Turd! We're celebrating tonight.

    Me and my Turdite hubby, both happy with our new Turd-ititude movement.

    Waiting for the Turdathon.

  2. Comex explains the large adjustment in gold and silver registered inventories last week. It was due to a change in its delivery system from paper to electronic. No conspiracy. No run on supplies (yet).

  3. whoa what was that blast to $48.50

  4. great stuff Turd

    make the tee shirt read:

    I'm A Turdaholic

    with an image photoshopped of you in the hat

    I'd be in for more than one

  5. I have acquired a physical Ag position and now I have begun to shift my attention to mining stocks. I have trolled the comments section here for a while to find suggestions, but now i'm just going to come out and ask: which juniors and mid-level miners do you turdfergs like???

    Thank you in advance

  6. Thanks Turd for all you do. Looks like Asia is starting off nicely for PM's. What impact do you think BB ignoring the POSX is going to have with their keeping debt? Any thoughts about why so many politicians went there last week?

  7. Shorts running for the exit out of the gates. Hopefully a monumental day for the miners tomorrow :)

    Let us see if our asian buddies were just as dissatisfied with the speech, and take this up quite a way. More importantly, see what happens tomorrow morning on the open. If Blythe is not shorting tomorrow morning, a big run-up is on the way....

    Just my thoughts.

    Conclusion of Bernanke/Fed's comments:
    Everything will melt-up, as we need to avoid deflation, while "monitoring the easily correctable inflation"

  8. Uh, no London a.m. beatdown Thurs or Fri, right?
    We may see some amazing up territory by FRYday close :)

  9. How about a "Turd's bottom" rqnge of diapers?

  10. According to Gary Savage we are now in a runaway move in Au and we should not see any pullbacks of over $25-35

  11. American...troll some more through the older blog posts and comment sections. Because as Mikey liked to say, "It's IN THERE!" :-) Happy hunting. And go, Anaconda, go...

    Ol' Michael

    Now would you believe my word verification was "masypo?" Yep...

  12. I've never been so glad to lose a contest. Classic comment Jack re mirror and little dip.
    Silver motoring up almost .80 since 6pm.
    Still promoting my fave stocks SSL for gold and ORKO for silver

  13. Wow, glad I kept some AGQ in the game....

    But still hoping for an eventual dip to reload..

    It was good entertainment to listen to the Bernake and watch the silver chart at the same time, matching the upward twitches in the market to whatever whe was saying at the moment... we need more Bernake pressers!

  14. @Americanfarse

    "I have acquired a physical Ag position and now I have begun to shift my attention to mining stocks. I have trolled the comments section here for a while to find suggestions, but now i'm just going to come out and ask: which juniors and mid-level miners do you turdfergs like???"

    Strait from the Turds Mouth:

  15. Irene

    Yes, it seems I've been on a bit of a physical buying binge for about a week now. Telling the Missus that I'll sell enough silver to "pay for it". LOL, haven't quite gotten around to fully selling enough silver for it yet. Maybe next week, wink, wink.

  16. Awesome work Turd. Any "self-glorification" or bragging is totally justified in your case whether intentional or not. Your ability to call moves is uncanny and the fact you do it for free to help the masses says a lot about your character and motives.

    In the last thread someone mentioned buying a ZH t-shirt and inquired whether or not you would ever consider something along the lines of t-shirts for followers. is a great website to do just that, I use it for merchandise to raise money for the dog rescue I volunteer with and I have been pleased with their product quality and user-friendly shops, their customer service is top notch also.

    Looks like I got my answer about non-US markets carrying the momentum, I'll be surprised if we aren't at $50 tomorrow morning!

  17. Turd:

    Feel free to brag. Great work!

    I caught the downdraft with weekly SLV puts and then rode up today SLV June calls -- up 70% in 1 day. Thanks to this specific chart:

  18. Turd you Rock!

    reposted-thread ended

    disapear for a day and it takes forever to follow-up

    From someone who once took an aspirin

    love collodial silver - part of any emergency survival kit

    should also have MMS - imagine 8 drops cures Malaria and Jim Humble cured 100,000 people in Africa with malaria in 24 hours (not all at once, over several years) and then got kicked out of hospitals by drug companies who threatened hospital administrators with ban of all other drugs unless he stopped - I think its banned in USA - useful for much much more

    also zeolite is incredibly handy for heavy metals like uranium, aluminium,lead etc.- used in chernobl

    chinese parsley - removes heavy metals toxins

    always rotate never take something for two long

    recomend everyone take a hair analysis for heavy metals

    kindly suggest all fellow bloggers take kelp right now - not being told whole truth about Japanese nuclear disaster


  19. "physical GOLD buying binge" I should have said!

  20. Turd: Two questions.

    1. Who makes your crystal balls?
    The markets followed like you wrote the script.

    2. Who makes your brass balls?
    As you said, it must have taken a brass pair to step up to buy amid the chaos yesterday. I need to buy some on ebay for next time.

    Great work!

  21. No conspiracy? No run on PM's? I'm still knowing a pigs ass is pork!! TROLLS. Damn Trolls.

  22. Ha! Been following here for a few weeks,and watching how predictions have played out. Again VERY grateful for the insight provided here, which eased my anxiety tremendously during the latest correction.
    I have been doing as you asked TURD! Few people want to listen to, or engage in anything to do with economy. BUT, a 20 year old friend of mine has been front and center for most of my rants. His interest has developed as the PMs climb, now a subscriber to the site, even has a virtual Trading Account!
    In only a week this young man has gone from spending time on RC Helicopter Blogs... to joining the growing awareness, displayed here!
    (wish someone had led me to the 'water' when I was 20!!!)

  23. Thanks for the kind words Kiwi but it's all yours! Well, and Doug's. Congrats! I actually played my day-trading like I thought it end up right here so I'm a happy loser.

  24. @ Pailin

    Pretty sure London is open 2moro, it's friday and monday that are the bank holidays...

  25. Turd

    The way I heard it long ago:

    "It ain't braggin' if it's true!"

    Seriously, you are so right to recap your success so people will understand the VALUE of the observations you make for us all.

  26. What's up with this on a day when SLV rises 7%?
    April 27 | Wed Apr 27, 2011 6:02pm EDT

    April 27 (Reuters) - Holdings in the world's largest silver-backed exchange-traded fund, iShares Silver Trust , fell by 2.96 percent to 11,053.20 tonnes by April 27, from 11,251.98 tonnes by April 26. For details of the ETF's silver holdings, click on: (Reporting by Naveed Anjum in Bangalore)

  27. I just can't get my head around yesterday! Did the Morgue short by over 300 000 contracts at 5000 oz/contract = 1.5 Billion ozs? or about 1and a half years World annual production?

    Is this right? If it is, it is freaking INSANE.

    This would mean about $65 B @ $45/oz.

    Tends to support the thesis that JP Morgue own the FED and just get secret hand outs of Fiat .

  28. Just in from the coin shop. First time at this shop and what a much friendlier experience compared to our local well-known shop.

    60 - ASE
    3 - 10oz JM bars
    9 - 1oz Englehard bars
    1 - Onza

    That's 100oz out of the market and in strong hands. Thanks to Turd and the Turdites for making me feel more comfortable pulling the trigger post $40.

    High or low the deed is done! ahhhhhh :)

  29. turd
    not 'self glorification' at all. you were correct. takes a big person to put greater good before ego. I take no post because I have to go out of office on wifi.
    turd things getting warm. very warm. problem is lips are very tight now. I will nothing much to offer.

  30. Michael said... And go, Anaconda, go...

    Lol! That's what I want on my T-shirt!

  31. American

    Check out this thread. Lots of miner talk on there.

  32. Anyone have any advice/experience with the Forex dealers such as Oanda? Trouble getting a withdrawal? Apologies in advance if this is a topic that has been heavily covered. I've been taking a hard look at the Norweigan Krone as a currency play for the long term.

  33. Yeah, that's the ticket!
    A silver Anaconda wearing a Turd hat on wheels of fire!

  34. Turd,

    Thanks for getting us rallied around the PM market. Much easier spending time here listening to like minded individuals than actually getting any work done. Will wear the Yellow Hat with pride. Congrats kiwiquest.

    Americanfarse- my pick at this time is Impact Silver. Has some catching up to do and should be soon.

  35. I wonder if we are going to get a serious beat-down tomorrow.... after the last "Rising Anaconda" formation (a whole 3 days ago) it fell 5 dollars (ouch!). Yep, the environment is different this time (no FOMC, etc.) but I wonder if TPTB just won't "allow" it to rise that fast.

    (Yeah, I know what you are thinking, "Kiwi picks one number right and he thinks he's a freekin commodities guru"... ;-)

  36. Endless Mountain said we are overextended a little bit, but who knows what will happen.

  37. @kiwi
    This market defies odds. I wouldn't be surprised if we get to 50 without a small pullback tomorrow. But I think we could have a dollar pullback in asian market. What are your thoughts?

  38. Anyone have any recomendations for a startup practice account?

    Ive seen some for currency but not for silver or miners.

    Any Help from a fellow Turd would be appreciated. (especially Ginger)thanks .

  39. Good afternoon Turdlings,

    I have seen this questions get brought up and then fade away a few times, without any responses. What would be the best online futures/options broker to use? I am about to add funds to OptionsXpress, but I have heard mixed reactions from the community. Are there any decent alternatives, or is this the best one to start out on? I’m going to be investing a little under 5k, and I’m eyeing those mini-silver contracts…Any thoughts?

  40. You just keep doing what you're doing, and we'll provide the attaboys, Turd. It has been an exhilarating day.

    Res ipsa loquitur. In the good sense (cha-ching!).

  41. Another historic day for PM. Thanks for your "turdmendous" calls everyone!

  42. 48.43 The Asians are digging it.

  43. @mezzrow. RIP Hunter S. Thompson.
    "When the going get's weird, the weird turn pro"

  44. @ F
    Hong Kong isnt open yet. In 30 min they open. This is all Australia

  45. Man, you called it with amazing precision. Love it. Looking to trade through next Friday. Then waiting for the move up in June.

  46. Petroleum11, I like it.

    "Buy the ticket, take the ride." - HST

  47. Saw this posted on SGS's blog, if anyone is interested

    I just bought 25 ozs. from Great Panther for $1 under spot. With the $30 standard shipping it came to delivered just at spot price. It actually comes from Northwest Mint, but Great Panther provides the silver and the artwork.

  48. Hi Turd.Interesting stuff today,good to see "normal service has been resumed",sooner or later the EE are going to properly loose control and I don,t think its going to be that long.Take care and all the best to everyone on here and remember every cloud has a Silver lining ..... :)

  49. It's true Great Panther's site says $47.50 per oz.

  50. Prediction: Fire-breathing dragon tonight in Asia. Outside of those of us in the U.S. who drive cars and, you know, eat, who got screwed worse today by Uncle Ben than China?

  51. Re: Juniors and Mid-level miners.

    There is something to like about all of these miners. Of the 2nd group I have only taken very small positions.

    Alexco Resource, Great Basin Gold, Endeavor Silver,
    New Gold, First Majestic, Great Panther,

    Golden Minerals, Colossus Minerals, Impact Silver,
    Minera Andes, Arian Silver, Aurcana Corp, Brigus Gold,
    Klondex Mines, Orvana Minerals, Revett Minerals, San Gold,
    Timmons Gold, Fortuna Silver, Medusa Mining, Atna Resources,
    Scorpio Mining, Bear Creek Mining, CMC Metals

    Good hunting, good research and good luck.
    Tom T.

  52. to paraphrase Geo. W. Bush:

    this sucker could go up!

  53. “We can’t stop here. This is bat country!"
    -Fear and Loathing in Las Vegas

    I'm betting a lot of us grew up with HST.

    Doug- good call on the final! Couldn't have done better myself..... ;-)

    On tommorow- mostly by trying to think like the Turd, I'm trying to look at both internal/technical stuff of resistance and support, but also the external events and psycho-dynamics of the folks who manipulate the market.... you have to think that they are seriously pissed that commodities went up right after the Benbot presser. So Blythe may be sitting in a corner buffing her nails and dreaming of Turd's rising anaconda, but somebody is being screamed at about "getting those damn PMs down before we all look like fools".

    To quote the Turd, there could be a pause after 50, which (in my bird brained opinion) could be a vicious dip before it blasts off.

  54. My hat's off to Turd. What a terrific site and a most generous and honorable man. I will be feeding the Turd tonight. I am finally beginning to learn how to trade a true momentum trend and to learn how to acknowledge patterns and retraces,etc. It is not an easy thing to do since it is so counterintuitive to how we often buy and sell in the store.

    much appreciation to Turd and to the community of Turdites.

  55. "And it's FREE! It's free and it will remain free because I feel it is our duty to help as many as possible prepare for what is, most assuredly, coming. Your duty is to spread the word."

    Now people, I don't know about you, but this is what makes Turd not just a good man but a great man. Such that he is not just concerned about you as an investor but as a person who needs to be aware of what is coming. Yes Turd can see the future in terms of prices in the markets,but also in terms of the end of the "Great Keynesian Experiment" and the financial/political/economic debacle that will affect every human on the planet. The consequences of a complete dollar collapse will be devastating beyond our wildest nightmares and comprehension in that the world has never seen anything in its past quite like what is about to come to pass. You see, there has never had a global financial fiat system ever before in its history, and the collapse of such a system will devastate and destroy in ways you cannot imagine and perhaps send us into the next dark ages. The Turd cares and wants to see as many people prepared for this event as is possible. For no other reason, this is why you should have the highest respect and love for this great man. Turd could charge a fortune for his awesome skills at market analysis, but he doesn't because there are things of greater value for him, namely a future for his children. We do not live alone, and while many of us will do quite well in the forthcoming financial disaster, others will literally die as a consequence. Turd would like to save as many people as is possible and even help them to thrive. Therefore it is incumbent upon all of you to spread the word as much as you can. That is his goal and it should be yours. Thank you !

  56. Just wanted to inform you that OI is back at the level of last week. OI increased by about 10k contracts on Monday, which were likely new shorts created for the smackdown, and those have obviously been bought back now. So, pullback having been very temporary, unchanged bullishness for silver.

  57. @PrizeFighter
    thx, I really worship HST. He's been so gifted in reflecting on reality in his unique gonzo. I really miss him like a distant relative...

    And nice silver stash, you must be at peace with the world. It's been a good day. More to come.

  58. But you know what's freaking me out... 80 cents up used to take up half the kitco screen, now it's just a little squiggle in the corner... Santa talked about the days of big volatility... I think they are here.... :-0

  59. I, for one, would like to thank the Turd and all of the participants on this blog. I also think the well-reasoned downside comments are also useful. I am a buy-and-hold investor; and while during 2010 I made the logical jump into appreciating the future of the US dollar, holding investments that seem insane to almost everyone I talk to, including very intelligent people, is not so easy. I am amazed as to the quality of information on this blog.

    And, for the record, I due my own diligence, read many sources, read company reports, etc. I take the responsibility for any success or failure of my investments; and frankly, no matter what happens, I have the confidence that I gave it my best shot, I did not follow main-stream thinking without studying myself, and if nothing else, my wife and I were able to bless many others with some of our success.

  60. When the Asian market opens this is going to be on fire. Ben basically told china to go pound sand.

    We could break Hunts close in the next 24 hours.

    Happy happy day.
    I was nervous about Ben's speech and took a little off the table. That cost me.

  61. A couple of days ago, I made a sour posting in which I stated that I have basically thrown up my hands in despair at trying to educate others around me, due to the snide and stupid comments they threw back in my face. I have had a change of heart. Turd is right when he says that we must try to educate others around us as to the great collapse going on around us. He gives selflessly with this blog and it would be hypocritical of me if I were to absorb all that he freely offers without trying to pass it along to others (I'll just be more subtle and selective with whom I speak from now on, is all). Thanks, Turd.

  62. @ben.roberts13

    Yes, I agree with you. Spread the word about the Turd. The old blogs e.g. about 'preparing accordingly' are great - the more people know about the ongoing collapse of the criminal financial system, the more we can all help each other prepare to deal with the shenanigans as they will continue ... this fight aint over yet ... honest consciousness is important

    It is important to spread the consciousness ...

    My consciousness has benefitted greatly from the blog and comments ....

    thanks Turd

  63. I was busy at work today so missed being able to post my guess. Congrats to the winners though. Glad I bought acq over the last couple of days.

  64. love me some Turd. thanks for keeping my spirits up when the times were tough yesterday. feel much better today.

  65. Lots and lots of important PM info just got posted to ZH.
    Please go check it out.

  66. @Petroleum11

    I'm pouring a beer across my chest to facilitate the tanning process.

    Q: You've dropped your Rolex into the loo while on an airliner. What would HST do?

    bonus points: Which arm?

  67. Ah yes, HST:

    "We were somewhere around Barstow on the edge of the desert when the drugs began to take hold."

    Been there, done that : )

  68. Erica,

    Thanks for the upchucking laugh.

  69. This site is hands down my favorite and really do not mind the ego taking a bow to receive the well-deserved the accolades we are seeing.

    Thanks to Turd and other free sites like, Trader Dan, Jim Sinclair, Zero Hedge, GATA, Jesse's Café, Seeking Alpha, Munkee, Kings World and others, we can stay well informed.

    What I find most unique here is the openness and excitement of all of the people who post in reaction to Turd's comment – a great real-time, vein pumping place to ride the daily markets.

  70. Was going to post about the ZH gold article (and silver, too) but TF beat me to it. Institutional buyer of August 1800 gold options... wow. Just, wow.

  71. Jake- yeah, the bulk of the article was the good action on August 1600 calls (but since this matched TFs prediction , I guess I wasn't shocked by this) but what really caught my attention was the mention at the end that some 1800 August calls moved. After gold futzing around in the same 100$ range for so long, this really struck me, for some reason. It may be time to re-adjust our mental maps.

  72. This comment has been removed by the author.

  73. This comment has been removed by the author.

  74. what a day! was on the road today with my stupid verizon 4g usb stick, which i do not recommend anyone buying. it is very glitchy, today had no net access all day.

    turns out b/c of the turd i did not need it. came home after market closed with very little knowledge of my own p/l just knowing that silver and gold moved positively. showing wonderful 1 day profit.

    all thx to turd!

    all hail the great turd!

  75. @e736e346....
    Grrrrreat Panther Rounds
    Thank You

  76. One more post, then I'll shut up- in the comments section of the ZH article describing the 20% drop in registered COMEX silver, commenter Josh Randall posted:

    "I think someone needs to check to see if there was spray paint in their empty vaults that says "Suck it Trebeck" - love Turd"


  77. Yo...bros & sisis

    So the end of QEII was already priced into the market? The Bernank’s unconvincing denial that inflation was a problem was belied by the Dollars loud confirmation that it was. Who ya gonna believe?

    Will the S & P/Dow tank sooner rather than later once the smart money figures out there really is no more free ride from the FED? The question is, are these smart asses intelligent enough to get into the sanctuary of real money before it is too late? fukem, they need to ride that evil bear back to the dark hole they came out of.

    Today PM's confirmed a resounding lack of confidence in the FED and it's policies. The rest of the world has yet to play their cards.

    Most Bullish for Gold & Silver I'd say.

  78. Harvey organ's blog is reporting a drop in the bond market he said the big boys (pimco) got out in time.And he states reports are late getting in .

    ""The dollar falling into the 73 level is of great concern to the economy and this is why I am putting a lot of you on notice of a potential implosion of the usa economy coupled with major problems in other foreign countries.""

  79. POSX...73.12 bleeding badly now!

  80. Folks,

    Get as many people into the life boats as you can. The great Ponzi scheme is quickly coming to an end.


  81. The way things are going, and the intense pressure on the physcial , Im thinking the squeeze is on , May/June just may be historic

  82. Okay, this may seem like old news but this article's writer seems to think the JP Morgue short is small time. (Read the conclusions a few times and let is sink in.)

    Does this strike anybody as odd?

  83. Turd, I've done one or two silver price surveys in the past: Silver Survey -- scroll to the bottom and click on the blue link to see the results (funny to see silver predictions under $8 from 2008). If you would like, I could let you use some of the technology it's built with.

  84. I don't have a vagina, but I want Turd in mine. We are currently .100 away from dipping into 72 on the dollar index. Shit is about to get real.

  85. The euro is also rising like an Anaconda...still. Weird.

    The Wile E. Coyote moment is playing out over months.

    Ol' Michael

  86. OK, I will be the first to admit that I don't understand this Scotia Mocatta story.

    Can anyone explain in layman's terms?

    My excuse is that I cannot think straight today after getting only about 1 hour's sleep last night, due to the Bernank (the joys of living on the non-market-moving side of the world).

    (and the only thing I can think of when I see the name Mocatta is coffee, which I need now)

  87. Okay.. Faith?... You are a wonderful resource for this blog!! I have bookmarked the JimHumble site and at first glance it looks so interesting. I will learn alot so thank you so very much. The overwhelming majority of people who responded seemed to be really onboard with the colloidal silver thing. And after today's price action in the markets I feel I need to act soon. Prices aren't going down on anything anytime soon. Unfortunately really. ...I have alot of ground to cover it looks like with good medicinal remedies. This stuff I want to/and need to know!

    Between the food dehydrator stuff I am learning from Abbyfield's sources and others ..and now this.. I feel so good about my preps. Bought more dried beans and dry milk today. .....So much to get little time.. (it seems anyway). THANK YOU!... Please keep posting all your terrific information. Many more here are benefiting..not just me!

    I can tell you what platforms I use but I don't do currency trades as I don't yet have a clue (or the time!).. but you mentioned wanting to know some suggestions of platforms other than currency anyway. For my miners I opened up a Scottrade account. I've read posters' comments here and on other blogs that didn't care for Scottrade (mainly because they say they charge too much for the trade fees) ...but there is a branch about 2 minutes from my house so I went with them for convenience of dropping off check deposits, etc. ..The trade fees are $7 for any size stock purchase or stock trade. You can pay more if you want the upgrade/pro platform but the basic suits my needs fine. It was simple to open the account and you only have to have $500 to start the account.

    For my options I went with I like them just fine too. If you go with SURE to use a coupon ...I think it's on their homepage...for some free trades. I forgot to enter my code and they wouldn't honor it.. but they did give me 2 free trades. "/ ....That was ok.. I didn't have the large capital to fund my account (only $1K to start).. so I think that is why I didn't get more free trades. ..Regardless though, they have been just fine. You can choose either $8.50 plus .15 per contract or $5 plus $1 for each add'l contract as your fee class. You can change this setup once every 24 hours also. I find their site very easy to use and to navigate.

    I hope this helps! ...Being such a newbie at all this I really have no idea if there are better platforms out there. This is just what fell into place for me so I went with it.

    I am very happy for those who made out well today. My lowly lil $1K is now $3500.00. ...This comes from mostly going in and out of SLV ..though I am still holding some UNG and USO calls...which are down for the moment. "/ ....But what a good day. Those that didn't get in before the liftoff.. please don't dispair! ...I know enough by now to realize that you will get 2nd and 3rd and 4th chances in this market so take heart! ......Remember, it can all evaporate just as quickly as it came. Let's stay focused on preparing as we should.

    Somewhere in the very back recesses of my mind....there was a comment that you made to me earlier and I meant to respond. After all the action.. I totally forgot what you said! ...Senility..maybe on my part but now all I can remember is that I had something to post to you and I don't know what! :o lol. ... "/

    I read your post as well.. ..Taking it all into consideration! ;)

  88. RE: Scotia Mocatta

    Since the first thing I read about silver was Maloney's book and he clearly predicted the day was coming when the silver vaults would be proven to be empty, this comes as no surprise to me. However, I still do not really understand the implications of it and would appreciate someone wiser educating me.

    My strategy is to trade in paper silver to generate capital for buying physical. It has risks that I recognize. It is clear that those risks are probably escalating. What happens to paper trading when the COMEX "breaks down"? What does that term actually mean? Looking for insight here.


  89. Forced to watch NBS Evening News w/ Cryan Williams while at gym and not ONE story about Uncle Ben. Not one!!! And nothing about the economy in any way, shape or form. Obviously Ben's performance did not receive good reviews from TPTB. However, there were two royal wedding stories. Lovely.

  90. Excellent question, OldNavy. I am eagerly waiting to read replies.

  91. Jim Willie's latest here:

  92. ChickenDinner, don't realize the importance of learning what the bride is going to wear and all the romantic details of the upcoming nuptials/ceremony? The world is literally in economic meltdown but no matter and no worries. We need more details about the Royals' Wedding. riiiighht.

    Your username makes me hungry. :D

  93. oldNavy,
    I have often asked a similar question, but no-one can answer adequately.

    The spot silver market (XAG/USD, XAG/EUR, etc.) trades on FX platforms, but the pricing is linked to/determined by the futures markets (mostly COMEX).

    My question is: if COMEX ceases to operate, why would the spot silver market stop functioning. Spot markets do not have to have associated futures markets in order to operate.

    (Yes, I also have physical silver, but I trade XAG/USD and XAG/JPY (currently) for the leverage, liquidity, low buy/sell spread and flexibility of choosing which fiat currency I most hate at any particular time to be the currency against which XAG is priced)

  94. Oh!.. CONGRATS to KIWI & DOUG!! !!! !!!!!!

    (I was WAY WRONG on my lowball guess) ...happily so! :]

  95. Thanks a ton Ginger, You did help. any beginner's books on trading you can recommend?

  96. What I worry about is derivatives like AGQ that has been on fire the last couple of weeks. Does anyone understand how they work and the risks involved in a default of the Comex?

  97. Marcus - your post really made my day. I have deeply cynical moments too, and I thought your original stance was understandable, if harsh. But to see you soften - wow - I will join you, and try a little harder myself.

    Ginger - that happens to me a lot - but when you catch up on 200 comments only to realize there are 200 more it is easy to forget. Great work on the investments - that was fast! I am making out well enough in my slower ways (but I had a head start, I think) and am feeling pretty content without the added stress. I can't believe Erica's story - brave to tell it, and I'll bet she is not alone.

  98. Last week The scotia tmocatta has reclassified a large amount of silver and made some suspicious or unusualy large movements of silver to NY vaults .

  99. If this keeps up,Pretty soon Turds going to have his own personal hedge fund.

    The bank of Turd. We give a shit. Because we belive A Turd in the hand is worth two in the bush

  100. F,

    I've mentioned this before but I have a book called "The Rookie's Guide to Options" by Mark Wolfinger that I haven't been studying near as much as I should, but is a pretty easy read and I think a good primer. Hope this helps.

  101. I'll say Turd I had no skin in the game but you called this week. I played the "home game" against the Turd. I didn't do well, actually I sucked. But that's okay I didn't sit at table, I just watched. Nothing made or lost! But I'm getting set up for May. I'll get my 1st gold walking liberty in a trade for silver this week and stand by to to replace silver on the dips.
    I got food, water, fuel and security and bit of cash I can afford to gamble with and lose.
    Thanks for educating me!

  102. yep thanks, Ill check it amazon

  103. Perhaps I should amend my question thus; As I see it, the COMEX will not "break down" if there is no silver. The COMEX is the marketplace. It is not a party to the trade. If the seller has no silver, it is the seller that defaults. The COMEX goes on. If the entire silver market breaks down, the COMEX presumably continues to operate for all other commodities.

    So, what we are really talking about is the SILVER market breaking down, right?

    Having clarified that, the gist of my question still stands. What does a paper trader like me do when that event occurs? What should I be doing to prepare for that event?

    I have already acknowledged that my current favorite options trading vehicle, SLV, will implode one day. I am constantly looking at alternatives to get into before that happens. But really, what are the ultimate implications of the "fake silver" being outed? Will the paper price explode upwards? (I know the physical price will.) Will people rush into the mining stocks in huge droves? (Seems likely to me.)

    AHA! Maybe I just answered my own question. When I sense SLV becoming unstable, I will move to buying calls on PAAS ,EXK, GPL and SVM.

    Still would like to know what others think!

  104. Damn, I missed the whole contest.

    I'm going to have to do a better job of staying on top of this Turd.

    Eventually, you'll have a veritable legion of people strolling through life with really big yellow hats.

    Doug Henning was a Canadian magician. He posited that he could create an invincible army of 1000 yogic flyers.

    A thousand Turdic flyers. Ginormous yellow hats for all!

  105. Nice RT segment on today's Fed action with Gerald Celente here. He doesn't seem as doomy and gloomy now that his forecasts are playing out...again.

    Now .059 away from 72 on the dollar index.

  106. @spencer as posted @ 6:59
    I have not seen a reply to yr question re options so hope this will help.

    Yesterday Turd listed this link re "opening an options account" & I hope it is useful to you


  107. OldNavy - I think your reasoning is correct. Other than the closed funds that seem to actually have the silver already in the vault it would have to be miners (physical being understood).

  108. oldNavy,

    I am in the same boat as you. Doing my best to look into the horizon and prepare. The fundamentals of phys silver are incredible considering the us monetary policy. In regards to SLV, who knows, just riding the train until I start hearing the brakes start to screech. I think I will be watching the HUI real close now..its lagging and if it still lags in May summer should be fun with the BUGS. Just my two cents.

  109. Old Navy,I dont think anyone knows for certain when the dollar shits the bed .

    But If I were you I'd take a hunk of paper money and buy physical while you can still get it. food too.

  110. Ben is My Friend

    After about 2-3 minutes into Ben's Blather a smile crossed my face. He is keeping his head in the sand – denial is his friend. So we dodged a bullet based on his inaction. But then I thought he does have a strategy and without venom coloring my eyes I have one theory. He sees Euro and Yen crashing into this autumn and unless folks are going to the Yuan, Krona, Aussie, etc as their “safe-haven” currency, it will remain US Dollar. The Index will be rising (along with interest rates??) from the ashes of the Phoenix. This freaks me out since this is a last man standing, dangerous and cowardly approach. Thoughts?

  111. Spencer,
    I use OptionsXpress. I started out with it and have been satisfied even though other online brokers offer cheaper options trading fees. OX is $14.95 and up depending on the number of options in the trade.
    One Comex silver mini-future (2500 ozs) will set you back well over $6,000 in reserve requirement (cash you have to have on hand in case the price drops) plus about an $8 transaction fee.
    There is also the NYL mini-future (1000 oz contract). Reserve requirement is less than $2500 and commission is about the same.

    If you are just starting out, I would strongly warn you against the mini-futures (Comex). A 5 point drop like this week and you're down $12,500, which could stop you and empty a small account.
    Others on this blog are better at explaining futures and options, but this my 2c.

  112. Turd- Citibank is offering to lock in current silver prices for Feb 2013 cotton fiat!! Can you imagine what silver will be in 2013??

  113. Apologies is this is noise... but I was listening to Turd's interview last night - which was excellent (I have forwarded those links to as many people as I think will listen + a few others) - and at the same time I was continuing my experiment with Raw & Vegan cooking - this time making some chocolate chips to go in some chocolate chip cookies I will be baking tonight. Anyway... as I laid them all out on the dehydrator trays, it struck me that something was missing, so I added it and took a quick photo.

    Just for fun... happy to share the recipe for these if anyone is interested... no dairy, no processed anything, no refined sugar... just a magical recipe that comes together to make perfect chocolate chips.

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