Tuesday, May 17, 2011

Reason For Hope

Gold is bouncing back from the early morning smashdown and is now $10 off its lows. Silver held 33 twice! By no means are we out of the woods and it won't take much to really blow things up at this point. However, today is very much like Turd's Bottom in January. Things could go either way and we must be cautious...BUT...if we can turn here...bargain silver buyers will see a pretty stout, 10-day base near 33 and feel encouraged. Keep an eye on $34 in silver. A move through there may encourage some short-covering and, well, you get the picture.
More later this afternoon. TF


220 comments:

  1. Patience is a virtue that I don't have much of. Thx Turd!

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  2. GDX at 55 (and holding) signals a buy for me on all miners.

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  3. Awesome Turd! I got some at $33. BTFD.

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  4. I think the Turds upper lip was quivering earlier this morning.

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  5. 100% physical

    My comments are few and far between, as I have little to fear – and therefore little to write about. The government computers run the stock market, the bond market, the currency market, and no one seems to care that the DXY is nothing more than a “deadcatbounce” off of a multi-year low.
    If there are 15 million shares of SLW buying, they just short 16 million, and the only way they "let" the PM stocks rise “at all” is if the Dow rises.
    As for the juniors, there just are not words to express how difficult their rises are, and how bottomless ...on no volume... their drops are each and every time the PM sector has even a minor decline.
    Valuations in juniors are still 70% or so below where they were four years ago ... (with few exceptions), and not even the slightest hint that that gap is ready to start closing.
    Sentiment is 100% under control thanks to the government computers that make sure no PM stock excitement ever occurs, even with record PM prices.
    Just as sentiment toward the collapsing US economy is muted thanks to the government computers that NEVER allow the Dow to have a significant decline.
    The only market they cannot control is the worldwide physical market, and that is why, with increasing conviction, I have gone the route of 100% physical ownership.
    My confidence has snapped after all of these years of abuse, and it gets harder with each successive smash to believe that the PM stocks will be able to break free from these assholes. I thank god for Ben Bernanke, as he is the last intelligent person still buying US debt. He is buying us more time to collect…

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  6. FYI VXX is a fucking scam! Sorry but it is true. a fucking scam! Stay away. The VIX makes no sense at all anymore and is broken. the VXX tracks a broken indicator. A frickin scam

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  7. No that was his . . . Sorry, lady Ginger is amongst us.

    word verification: arsin

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  8. We will have an intraday reverse H&S on both gold and silver if they can claw their way just a little higher and break above the neckline.

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  9. GDX cannot hold. Looking for shorts . . .

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  10. deadcatbounce SPOT ON! sir. Although I too am 100% physical I do play for entertainment purposes only and to make a buck or 2. I Never thought of trading as a get rich scheme anyway TPTB make sure this will never happen.

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  11. Turd, you wrote that we should keep an eye @34; do you mean that if silver goes through that level, short covering will trigger higher prices?

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  12. Sorry if this has already been yaked about here. I've been searching for reasons to agree with a bottom here and sadly one of them got blown to crap when I read about Silver no longer in backwardation.
    There are a couple articles out there on this or you can look at -

    http://www.barchart.com/commodityfutures/Silver_Futures/SI?mode=D&view=

    - and see yesterday's prices.

    I didn't find a nice chart anywhere showing when this happened, but if the physical supply demand doesn't come back into the market any bounce here or for the next while will be purely technical and short term...I think?

    Other thoughts on that?

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  13. @Dani

    Yes, we should have a $1 or $2 worth of short covering once silver breaks $34 on volume and holds there or higher for a couple of hours.

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  14. @Turd

    Thanks for all that you do, I truly appreciate your thoughts, and this great forum you have created.

    Just wondering how you feel about the COMEX inventories and metals expiration next week? The bearish sentiment in the MSM seems to say we'll see $20s Ag again soon. Seems they wish everyone would look someplace else for an investment. What are your thoughts on how this coming expiration week should play out? Thanks a plenty.

    Phantom

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  15. @SSK my response at this stage of the game would be 'stand aside' rather than look for shorts. The short side must be very crowded on these, and long liquidation seems to be drying up.

    I'll watch and see how it works out for you. :)

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  16. @J

    No need to hold your nose when buying GPL. That is a quality miner. Just happens to be on sale right now.

    @ScottJ

    How much of the recent slaughter in Revett do you attribute to weakness in the spot price of copper?

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  17. J,

    I hear you. Just bought ZSL at 21.24. Don't trust the rallies. Will abandon at a moment's notice.

    Silver and gold has to prove itself. It has to rally and hold.

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  18. Thanx Shill, you're a BFAM (brother from another mother). Peace...

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  19. Doing put spreads on vxx has been working for me.

    64 years old

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  20. Sell the rallies. It's teh gift that keeps giving.

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  21. @DNG
    Thanks for the answer, but what I don't understand is what would motivate short-sellers to give up at 34, if supposedly some of them have been waiting with losses the whole time up to $50 until we reached the current drop below 33.

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  22. 2 days in a row gold down hui up. The bottom is in. The stocks were telling us all along about this downdraft, now they whisper......buy me. Everyone and their monkey is bearish the miners. Bargains galore!

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  23. So long 4th Amendment, we hardly knew ye:

    http://www.supremecourt.gov/opinions/10pdf/09-1272.pdf



    For the tl; dr crowd: SCOTUS has ruled 8-1 that police can create their own exigent circumstances to validate a warrantless search of a home. According to the ruling, the police smelled marijuana outside an apartment door, knocked loudly, and announced their presence. As soon as the officers began knocking, they heard noises coming from the apartment; the officers believed that these noises were consistent with the destruction of evidence.

    ////////tick tick tick tick///////

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  24. @SSK

    Not trusting rallies would have been a gift @49!

    Might be some more downside, but we are approaching the point where we should be not trusting downdrafts. But I know you know how to use stops.

    Just commenting on the market psychology starting to emerge in here.

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  25. @Dani

    Some of the guys who shorted at $33 will panic, some traders have long and short term shorting strategies, so you'll have the short term guys covering but perhaps keeping their long term shorts.

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  26. Sold ZSL at 21.49.

    $480 flip. My apologies to team silver.

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  27. How can the fix be down on a down day like today? The damn thing is broken http://finance.yahoo.com/q?s=^VIX

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  28. My email just dinged and it was a product notification from the US mint for the availability of the Wyoming ABT coin. I have ordered it already. Just letting you know it is now available.

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  29. $480 flip. My apologies to team silver.

    -----------

    Nice grab SSK I too sold for a nice sum. Still shorting gold here though.

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  30. @SSK

    if one were short silver at 40, 45, and 50, why would one wish to add to their short position at 33.50? to me, it makes sense to gradually cover and lock profits. the risk:reward just isn't there.

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  31. No apologies necessary SSK! Help a buddy out though, so you'll short TRE at $7.09 but, where are you covering at? Or, are you just abandoning all your trades at the end of the day. I prefer to buy TRE, just want to know as a short, where you stop. I see a rounded bottom that'll hold longer term so I'm buying at $6.75 and below, prefer one last dip to $6.50. C'mon, let me see your hand, there's no 'I' in team.

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  32. SSK watch GDX...GDX/GLD ratio breaking april downtrend... I am thinking GDX may bounce nicely tomorrow.

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  33. After the nasty crash in 2008 and then the so called "recovery', Wall Street was selling all kinds of volatility etf and etn instruments. The idea was that the suckers could cash in when the inevitable next crash occurred, which didn't happen and a lot of people lost their shirt trading vxx, vxz, xiv...I can't keep track of em anymore. A lot of them have options too so what we have is an index (vix) tracked by a etf which has options. Someone would probably expect there could be some slippage there. A lot of our money falling through the cracks. BTW the cme is now trading options and futures on the gold vix. (GVZ)

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  34. I am only shorting the rallies. In the downtrend, every bump up will be sold off. It works until it doesn't.

    Also bought some more NGD at 9.30

    Soccer,

    If GDX stays over 55, I will not short TRE.

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  35. @JNG
    Thanks for all your knowledge, I am a complete noob and I really appreciate that the veterans take the time to share. Hopefully someday I'll be in your position too.

    @SSK
    Through which broker can you use the leveraged ETFs like ZSL or AGQ.
    (Yes, I am aware that they are only valid for really short-term strategies, I've read plenty :P )

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  36. I'm with you, Sooth Sayah. I believe the miners are back to being our reliable canaries in the mines. Or something like that. All those hammers painted on the daily charts...

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  37. Mississippi port closed to shipping traffic

    http://www.marketwatch.com/story/mississippi-port-closed-to-shipping-traffic-2011-05-17?dist=countdown

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  38. @Harald

    brilliant on put spreads on VXX. have you ever considered doing same on TVIX or are the premiums too high for the leveraged ETF's?

    Thanks

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  39. Shill,

    I saw that too. How do you make money off that???? i have no idea . . .

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  40. I think I recognize this 'week before front month options expire' pattern. Its the time premium death march, when my puts and calls both go down each day. Need the swings.;)

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  41. I think "they" will close Silver between 33.30 and 33.50

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  42. Dani,

    Any broker. They do have special margin requirements. I use TDAmeritrade.

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  43. I'm just going to sit here and cheerlead NGD for the last 15 minutes.

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  44. TRE is looking good today. I wouldn't want to have an underwater 6 million share short position in a stock that trades 300,000 shares a day and has been going UP during a down market period.

    Some MASOCHIST is going to get the pain he craves one of these days. LOL!

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  45. Hmm this has all the markings of Fridays close where silver was the only thing green. Be careful out there.

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  46. @SSK - if Obama hadn't declared war on speculators oil would seem obvious to me, with all the refinery action down there this has to be a supply shock... but since speculating is verboten in Amerikka I dunno... magic pixey dust seems to be in vogue...

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  47. This is an excellent article for those of us who just buy physical and plan to hold it (for a long time):

    http://seekingalpha.com/instablog/411720-jeff-clark/179022-silver-price-the-least-you-should-worry-about

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  48. J,

    I shorted the crap out of TRE when it hit 7.12 the other day. Made me some nice fiat. But I readily admit to being a masochist. You may not be a masochist at present, but if you stick around trading pm's you will be.

    TRE is soooo tempting to short again. But I will refrain. I'll let Soccer take a whack at i!

    Uptofreedom,

    Refineries are tough to make money off. YOu need to understand the crack spreads. I've played SUN, VLO and TSO for lots of years. The one that might have an upside is SUN. They have refiners all in the mid-atlantic.

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  49. Thanks but I have trouble characterizing my trading as "brilliant." Don't do the leveraged etf's, things can get out hand in a hurry and the spreads are pretty big. Forgot to mention that xiv is the inverse of vxx if someone is uncomfortable with options. The trouble with vxx is it has to be rolled every month and it just keeps losing value. Plus, the volatility market is manipulated same as the rest of the.

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  50. S&P came back quite a ways today, as did the Euro v. the Dollar (the Charmin v. White Cloud relativity trade), WTI, gold and silver. Grains looked good today as well.

    Nibbling at more physical, although the kids' stocking stuffers still in the money.

    GLTA

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  51. SSK said:
    "No that was his . . . Sorry, lady Ginger is amongst us."

    Just think of me as your ..sister ..or your daughter ..or your mother. ;)

    Wasn't trying to stifle your choices of conversation topics earlier. It was just getting gross in here frankly. :D

    I really learn alot on this forum. Sometimes I learn more than I wanted to know about some things. :|

    Behave. All. (Including Me.)

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  52. @dead cat bounce
    Thanks for your post you have articulated my thoughts better than I could have. I quit. They have won. Life is to short to deal with these evil bastards. What ever i have available i will buy physical. Miners have proven that that is where money goes to die. They only go up with the market, why not just buy the SPY. They do leverage the downside nicely. Where to go? Cash, yea right so they can reduce you one night by 90% devaluation, for the good of all I`m sure! When the miners start paying hefty dividends in actual bullion maybe I`ll reconsider. In the meantime they can dilute themselves to zero, and play lap dog to TPTB. Hope they all rot in hell

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  53. @SSK, just curious, were you shorting any of these back when silver was still up in the mid 40's?

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  54. SSK, I'd recommend a good short of TRE at $7.20, and cover at $6.80, I doubt it'll make you rich but would make me feel good about my chances to buy some more at $6.75. Depends, if the market psychology is indeed shifting positive we could get a little overbought at $7.50, in which I'll take my profits, and let you short it down again. Now that's teamwork, thanks.

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  55. Scottj,
    If you are around.. ...at least RVM finished green today. That's something. (Also, USSIF..if you have that one) ...Those are the only 2 greenies in my miner account today out of a basket of 14. "/

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  56. Keep an eye on USDCHF. Bounced off 88 twice now and there again right now. If it goes through towards 87, gold will go up. USDCHF perfect head and shoulders right now on 1hr and 4 hr.

    Short USDCHF from .8913

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  57. I wan´t more silver,gold and mining shares but already used up all fiat.
    Good thing my GF will buy more this week.
    :)

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  58. Hello everyone, I'm a newbie, been lurking for a couple of weeks. I hold real silver.........

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  59. J,

    Sadly no. I missed the boat entirely on the down side.

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  60. From Warren Butface: " We won't have a Debt Crisis.

    http://www.marketwatch.com/story/buffetts-silly-talk-about-the-us-debt-2011-05-17?link=MW_story_populara.

    It must be true. It's Warren Buffet saying this.

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  61. From today's action, things that make me short-term bullish: GDX led the metals; silver held the lows and gold bounced back; all the doom/gloom posters on here

    From today's action, things that make me short-term bearish: silver couldn't break out of that evil downtrend from the highs; gold broke out to the downside from Turd's triangle (remember when 1485 was the line in the sand?); all the bottom-callers on this site.

    Conclusion: WTFK, but the suspense is killing me, and I'm not getting sh*t done at work.

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  62. POSX going to an ugly place on the 10 day.


    http://www11.zippyshare.com/v/5617390/file.html

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  63. Almost to $34! Let's see if the shorts start to cover.

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  64. Soccer,


    Sounds good to me. The thing about TRE is that is trades so erratically. It usually rises in a burst than falls just as fast. Today was different. It rose slowly and ended quite strongly. It's the one off pops that I find weak and shortable.

    Were I too short, my cover price would be 6.67.

    Today's action in silver will no doubt be considered TA positive. I will wait for more confirmation to support. But I still see potential downside.

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  65. Todays action was pretty good, IMHO. We are seeing that sellers are leaving the market and buyers are returning.

    If you look at the ADX indicator for $silver the red line = sellers, the green line = buyers. You will notice that over the last several days the red line was going up and the green line had turned down.

    They are now in the process of reversing directions which means, market bottom, sellers leaving, buyers returning.

    Of course ir t is still too early to be sure.

    Another nice indicator is the MACD, the indicators are getting shorter and may move in the next few days to generate the buy signal on the MACD crossover.

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  66. Important consideration: Will we see some novelty-buying of gold on the first day of HKMEX? Lets hope it wont be novelty shorting...

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  67. And so, fellow ticker watchers, silver ends the day about where it started, the only thing lost is the contents of a bottle of Tums consumed while watching the damn thing drift down to 33....

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  68. I just read that THE BERNANKE is going to be speaking tomorrow. Is that accurate?

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  69. I have a question about getting a loan with gold as a collateral. Is it possible? Say I would deposit 1kg of gold to a bank and they would give me a loan for the value of gold (minus banks interest etc).

    I have never heard of it. Then I would use the money to buy stocks. If the loan goes bad they would just take the gold

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  70. @srsly

    Your username says it best.
    Why would you want to do that?

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  71. @srsly

    JPM takes gold as collateral. This was a big laugh a couple of months back.

    Phantom

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  72. Why wouldnt I want to do that? Take a loan, buy a bunch of silver stocks, profit $$$, sell stocks after a year or whatever the duration of loan, pay off loan, take back your gold and keep the money you made with stocks.

    Whats not to like??

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  73. srsly will you deposit gold for fiat so you can buy Netflix? Or does Apple catch your fancy?

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  74. @jimmy, they are not even sure if one can settle in physical bullion. That would be interesting if they can. I hope its not a massive short paper market.

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  75. @Spencer
    I believe James Bullard (st Louis) speaks but not until 7pm?
    I do wish Ben would speak everyday though.

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  76. you can get a loan with gold as collateral, sure. A loan officer would appraise the value of your stockpile and then you could borrow against it.

    And after that, see if you can get a good price for your smoke detector/fire extinguisher and go place some bets at the mafia owned, local dog-track

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  77. Why not just trade the gold for physical silver at today's ratio (nearly 44), then trade back at a lower ratio and keep the difference?

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  78. srsly

    A friend of mine did exactly that with a Swiss bank. He deposited gold and used the money to buy more gold.

    He didn't want to traditional margin trading because he wanted to be sure that he owner physical.

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  79. @srsly
    Jeebus man that's crazy talk, snap out of it.

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  80. sorry for my typos. I am British...... really, haha :)

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  81. Don't forget to compare US/EUR spot, dollar weakens again: not a significant rise in EUR gold..

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  82. This comment has been removed by the author.

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  83. Does anyone have an opinion as to whether it will be better to own a home with a fixed mortgage rate or rent with all the chaos that's coming ahead. My house has quite a bit of equity built up in it. I was considering selling and taking advantage of that equity from the sale to invest and then just rent. Perhaps when home prices drop even further and gold and silver goes up a great deal I may be able to buy the same kind of home out right...this was just my thoughts. Anyone have an opinion about this?

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  84. Wtf am I missing?

    Say I have 1kg of gold, they give me say 80% of the current spot price. They take and keep the gold to themselves. Say I take a loan for 1 year. When I fail to pay back the money I got for gold within 1 year deadline, they keep the gold. When stocks went up and i made money, I will sell the stocks, pay off the amount I received, I keep the profit I made from stocks and get back my gold that i initially gave them?

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  85. @AgApe47-

    Actually you're selling USD to buy CHF but you're right, it is a good looking pattern. CHF is my favorite fiat, and it's nothing to write home about.

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  86. I bought AGQ this morning at 155.00, I think I'll hold this all the way back up...

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  87. This comment has been removed by the author.

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  88. Dear Turd,

    I don't know if my message to you earlier was ever posted, I didn't see it... I did some research and found out that the QE is expected to end on June 30th, although I was not able to find any articles to support this...

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  89. im thinking about it. why is it so funny or bad idea is what i dont understand.

    explain?

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  90. QE WILL end in June no doubt in my mind. There is just a question as to how long it will take to be re-implemented

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  91. srsly? said...

    Wtf am I missing?

    When stocks went up and i made money, I will sell the stocks, pay off the amount I received, I keep the profit I made from stocks and get back my gold that i initially gave them?

    ______________________________________________

    You are assuming that the stocks you buy WILL go up and you will profit......nobody knows for sure how your stocks will perform...and you plan on not paying on your loan so the banker keeps your gold??.......sounds like a bad plan if it even is a plan.....it spells trouble.

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  92. srsly, leave your gold at home and max out as many interest free credit cards as you can to buy your stocks

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  93. This comment has been removed by the author.

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  94. Deadcatbounce @ 3:11...how very right you are sir! The markets are not here for wealth creation,they are here to separate one from their wealth.

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  95. @srsly: well, let's put it this way:
    bringing my gold to a bank is not exactly the first thing that comes to MY mind :D:D
    by reading this blog i bet you can figure out how we view the relationship between banks and gold..

    mike maloney quote: "If you don't hold it, you don't own it."

    the point in being physical is to have security.
    --> mainly security against a meltdown of our financial paper ponzi. if you can't figure this out yourself you might just please go ahead and exercise your plan. To me it just looks like a very good opportunity to lose real money for possible paper profits.

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  96. @ Americanfarce

    Could you please change your avatar. I really enjoy this site, have contributed, and fed the Turd, but as a Christian man who loves his wife dearly I won't be coming back if I have to see smut like that.

    I know its a free country and you don't have to do anything but I'd really appreciate it. Thanks

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  97. @Spencer, you mean you've never been to a beach? What does your wife have to do with a beach photo? Just askin'..

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  98. @spencer: nice kidding man.
    for one second i thought it was for real.

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  99. Looks like a break out of the 30m down channel, but on practically zero volume...patience, patience...

    @Spencer: seriously?

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  100. Admirin a girls beauty, has never been a sin IMHO, Spencer :)

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  101. he doesen't like that Heidi is getting competition..


    btw: are we getting ready for a moment of truth?

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  102. Spencer

    As an atheist I would appreciate a little tolerance from our religious brethren.

    You know the least tolerant man I ever met was my Christian neighbour who insisted we all had to stop playing tennis in the street because he was trying to watch Songs of Praise.

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  103. srsly, put $100k in a margin account. Should be able to buy $200k PHYS

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  104. @ssrly

    If you want a big wad of cash to gamble with, why not just sell your gold? The money you'd lose with a sales premium would probably be less than the interest the bank would charge you, and after you made a bundle on your LULU stock you could buy gold again....

    Of course, I'm not saying it's a good idea.

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  105. @ Spencer

    Have you been on the internet? Have you watched television? Have you been to a sporting event (cheerleaders)?

    You find a picture offensive... but in case you aren't aware we are on a forum talking about the criminal EE raping the markets to their pleasure so they can prepetuate a global ponzi scheme benefiting themselves ending in austerity for all ignorant users of several fiat currencies (Dollar, Yen, Euro..etc..) returning to their rightful value... the paper they were written on... Now that is what I find offensive.

    @ Revett
    Buying all day long in Revett with a good chunk right before the close. I would imagine institutional investors piling up (probably some of the very ones that flashed it all the way down to its 200 day moving average). I think that someone targeted this stock being a recent listing to the AMEX and a nice run-up in price before. "Bad Earnings" (if you only judge a book by its cover) were used as an excuse to make lower lows, and honestly I should have seen it coming. I learned a lot from all of this.

    As for copper decline playing a part of weakness? Maybe, but I doubt it... Currently @ 3.70 and 38million shares outstanding... this company has a market cap of now ~$140 million.

    They are a US company (headquarted in Canada) which has over 350million oz of silver in the ground, and a couple of billion pounds of copper. Granted, Rock Creek needs the green light, but if you look at the recent "bad earnings" report, you will see a very interesting note about Rock Creek and smelter royalties. Something tells me this company issued stock options to all its employees (in one lump sum) b/c they want their employees to be in on it during the Rock Creek news (as they all have suffered serious paycuts from 08... all 192 miners of Troy Mine were awarded stock options) 10million sitting in cash too, with no long term debt now on the AMEX.

    These prices are ridiculous, and I attribute them to a targeted EE attack from its new listing on the AMEX. The attack pushed out all the stops and had an over-exaggerated loss (much like GPL which is attacked).

    Lesson I learned.. AMEX Junior Miner = bad when pressure is on PMs. I think Great Panther holders can attest to this...

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  106. @ Economic Analyst

    Yes, I've been to a beach. Since you asked what my wife has to do with the photo I'd be more that happy to elaborate.

    Matthew 5:28 But I say unto you, That whosoever looketh on a woman to lust after her hath committed adultery with her already in his heart.

    IMHO, "admiring a girls beauty" is different than gauking at some woman's, if you can call her that, butt. Admiring a womans beauty in my book would be looking at a woman and saying "wow, she has a really godly countenance, and it truely beautiful" There is no sin in that. If you're looking at her like a piece of meat thinking "man, I'd like to tap that" you are sinning. In my opinion there is a big difference between beautiful and sensual.

    Philippians 4:8 Finally, brethren, whatsoever things are true, whatsoever things are honest, whatsoever things are just, whatsoever things are pure, whatsoever things are lovely, whatsoever things are of good report; if there be any virtue, and if there be any praise, think on these things.

    In my book that photo aint pure and lovely. Just sayin, since you asked.

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  107. god.. my wife is kicking my ass. she doesnt get buying when the price is down.

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  108. oh f*ck here we go again..

    do you also get offended by turd talking about venezuelan hookers?

    cmon christians. losen up for christ's sake.

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  109. @Spencer

    The picture is merely temptation, the lust is what happens between your ears or in your heart. If you require all temptations to be removed so that you can avoid sin, IMHO you need to do a little more study and prayer and attitude adjustment.

    On the other hand, we talk here a lot about sins being perpetrated on the citizens by the government, as well as some misgivings about our perhaps benefiting from other's misfortunes. If you want to talk about ethics in those situations, I might be interested in listening.

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  110. I love sluts. The more avatar pics like that, the better.

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  111. @miked lowercase spencer is also an atheist. You're not alone :)

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  112. Spencer asked politely and without judgement allowing for the user to decide.

    I don't see a problem here. Sounds 'mighty Christian' to me.

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  113. I wonder if this story gets traction what will happen to the USD

    http://www.veteranstoday.com/2011/05/16/unconfirmed-american-deaths-helicopter-crash-bin-laden-capture-aborted/

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  114. @ Miked

    Give me a break. We are on a pm site. We are here to talk about PM's and things related. If someone wants to look at that crap there is an abundance of porn sites on the web that I'm sure would be welcoming. It's a simple request.

    @ Scott

    Have I been on the internet? Yes, but as I was saying I don't frequent sites that are chuck full of indecent pictures.

    Have I wantched TV? Yes. I grew up with a family of 4 and we had 7 TVs. I am married and don't have one in my house and never plan to.

    You can probably guess by now that I don't spend time watching sports. I'd rather be with my family doing other things.

    "You find a picture offensive... but in case you aren't aware we are on a forum talking about the criminal EE raping the markets to their pleasure so they can prepetuate a global ponzi scheme benefiting themselves ending in austerity for all ignorant users of several fiat currencies (Dollar, Yen, Euro..etc..) returning to their rightful value... the paper they were written on... Now that is what I find offensive."

    No way! That is what this site is about. I thought with all this EE talk I was at a starwars fanatics forum.

    Nice rant but give me a break. I just asked a simple question. I'm not demanding ANYTHING.

    Just for the record since you started in on me. We are the same age. Up until today I had a tremendous amount of respect for you and I still do. You have an incredible mind. But I was really disappointed to see you use God's name in vain in a previous post earlier today. All of the things that we talk about on this site are big but THEY ARE NOT THE BIG PICTURE.

    ReplyDelete
  115. @srsly

    yes u can definitely do this.

    i opened a line of credit this week and i asked out of curiosity if i could put gold and silver up as collateral - i did not. but if there comes a time when i need it (which i may to start my own business) then i will do it with half my stash, still keeping several ozs personally

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  116. Ass is Ass :)

    Sorry not much to add to this "RIDICULOUS" topic!

    When in a Muslim country, I would be stoned for saying " due to my cultural and spiritual nature I'm offend that you keep all these beautiful women hidden from my view"!

    ReplyDelete
  117. I don't want to hyjack this thread so I'm dropping the issue.

    Once again, its just a request.

    ReplyDelete
  118. Hey guys. Love the Turd. I'm an American in Shanghai and I buy silver. This is a video blog of a silver bug in Shanghai. Hope you guys can visit

    http://www.youtube.com/watch?v=4YgoK9wcDqg&feature=related

    ReplyDelete
  119. @sp

    I'm actually curious, what would be the advantages to using PMs as collateral, rather than selling them outright? The only thing I can think of is if the PM price appreciates you don't have to buy back in at a higher price.. which might be reason enough these days.

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  120. I'm actually with Spencer on this. It's not the picture I object to, but rather the tone it sets and the comments it draws. I'd just as soon not have that juvenile crap muck the conversation up...

    ReplyDelete
  121. The luckiest/most blessed woman/wife on this board would be ....Spencer's wife. And I'm just sayin'.

    "I don't want to hyjack this thread so I'm dropping the issue." ...Got it.. ..just had to say :]

    God bless us everyone ....and give us spiritual eyes to see.

    ReplyDelete
  122. I can see Obama coming out tomorrow saying:

    "Due to various requests, I'm passing to congress this bill which will prohibit to all american women dress in nothing less but a burka".

    Let's see WHO will be the first to complain: Men or Women.

    Oh, and BTW: For that picture to exist there had to be 2 people at least: the photographer and the woman, which let him took the picture because SHE wanted to.

    Anyhow, I wouldnt want this issue ruin the whole thread, so I wont talk anymore about that issue; I suppose religious preferences should be left out of the gate in my book.

    ReplyDelete
  123. Eur/Usd just broke today's highs. Looks like tomorrow will be a dollar down, everything up type of day... including the stock market? The "Bernanke Bounce?"

    I apologize Spencer, touche it was just a request. Lot of edgy people here, and sometimes its easier to get caught up in misconceptions due to the medium we talk on (the internet).

    ReplyDelete
  124. @americanfarce

    absolutely do not change it. that is a work of beauty.
    pls post again and again

    ReplyDelete
  125. In the spirit of the comradery this blog enjoys, and with the hopes that we can stay on the PM related topics, I will change my avatar.

    ReplyDelete
  126. @Spencer...

    Honestly, I didn't even notice his avatar until YOU mentioned it as I am here to read the posts on focus on the topics at hand, not avatar gaze and worry about "lust in my heart" as Jimmy Carter would say.

    As for his avatar in general, it carries over from whatever his profile is, it's not specific to this site.

    I have to believe that you do not read any posts on ZH because there are all kinds of crazy avatars over there.

    Finally, I always find it interesting when someone "politely" asks someone to take something down, but instead of leaving it at that, they throw in a "because if you don't, I will have to leave." Interesting.

    As Oprah said, "The person with the frown is the one with the problem."

    That said, I'm not sure why I got involved in this one other than that the "if you don't do X, I will have to do Y" comment rubbed me the wrong way.

    Spencer - have you posted any protests anytime TF (or anyone else) makes a video (or comments on the videos) with Blythe, Ruprecht and "hookers and blow?"

    Just curious as I'm into consistency.

    ReplyDelete
  127. I don't pay attention to people's "avatars"
    Thanks, Spenc, for pointing it out! I missed it!

    ReplyDelete
  128. Scott, not that i'm anybody, but you did just go up big time in my book. It takes a big man to say that.

    I agree, we are all edgy.

    ReplyDelete
  129. Oh yeah! CHF breaks below 88. On its way to 86.

    ReplyDelete
  130. @Americanfarce...

    Well played... stay classy.

    ReplyDelete
  131. @kiwiquest

    i don't actually have to give them the physical. it stays with me. i have to sign a document saying i will bless it as collateral. i wanted it marked to market. they agreed on monthly basis.

    keep in mind this is a line of credit. i use it simply to pay expenses for my business while waiting for accounts receivable. i don't plan to leverage it or do anything nuts.

    granted, legally, they can take it if my whole business goes bust. if my business goes bust i'm in much more trouble than my lost coins.

    selling and buying physical is something i will never do. i will buy only. i will sell the day the dollar is over. i hope this never happens and that the coins become worthless. but the problem with PM is that the slippage is massive. if u buy $100k worth PM and then sell them and then buy them back, u may lose $10k just in the slippage.

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  132. Americanfarce,

    damn that is a hot avatar. I never even noticed it till it was brought up. Makes me feel bad about my avatar...lol

    ReplyDelete
  133. @ Fortinbras

    You are correct, I do read ZH daily but have not ventured into the comment section for quite some time. Last I was over there, there was mostly just junk that you had to scan through for hours to find a decent post anyway. I hope that doesn't happen here.

    You are right, by saying what I did I was hoping TF would say "come on guys, its not that big of a deal, no trashy avatars" I also figured that there would be more people who would chime in and back me up. I am serious though. If the avatars on TF's site are like zero hedge I won't be around the comment section and I'm guessing I won't be the only one.

    @ Ginger

    I you knew my wife you would know why I want to be the man that she deserves. I am the blessed one. You're comment made my night.

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  134. @ Spenser and anyone who cares:

    For the record, I'm a consecrated priest and I don't give a damn what anyone chooses for their avatars.

    Emotional blackmale in the guise of relgion is an abomination IMO.

    Hux

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  135. @Spencer... I've always enjoyed your posts and I'm glad AF changed his avatar.

    For some reason, it wasn't your request that bothered me, it was the "if you don't do X, I'm going to have to do Y." To me, that's beyond a request. It just "tarnished" your otherwise reasonable request that could stand on its own so to speak. Also, I don't remember any "please refrain from denigrating women" comments in regards to anything to do with Blythe/Ruprecht videos or comments.

    As for ZH, I'm with you... I don't really even go there much anymore and haven't read a comment since this site came online.

    Take care and keep posting... I'm with you on the principle idea, just not on how it came out.

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  136. God Bless you americanfarce, that was a kind thing to do and speaks well of you. Spencer God Bless you for your boldness and politeness. Forgive me for earlier ranting about the evil bastards rotting in hell. I am still raging angry at what has become of our country.

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  137. Peter Schiff talking about QE3 as a certinty..
    http://video.cnbc.com/gallery/?video=3000022569#eyJ2aWQiOiIzMDAwMDIyNTY5IiwiZW5jVmlkIjoiMDRTbk1EMkRQSDhOViszb2p5OWhEUT09IiwidlRhYiI6InRyYW5zY3JpcHQiLCJ2UGFnZSI6MSwiZ05hdiI6WyLCoExhdGVzdCBWaWRlbyJdLCJnU2VjdCI6IkFMTCIs



    Man I hope he is right, I have 100% decided that we will have hyperinflation and am preparign accordingly. If the hyperinflation crowd is wrong I will be 100% screwed.

    ReplyDelete
  138. Americanfarce....Thank you for your character to change your avator without a big deal. This type of character shines.

    Spencer, Ginger, Scott...Thank you for your posts as well. Spencer....thank you for being bold. I find Americanfarce changing his avator quite respectful for us ladies as well. It's nice to see gentlemen on the forum.

    ReplyDelete
  139. @HuxleyAnn...

    That's EXACTLY what I was trying to say without saying it.

    ReplyDelete
  140. @sp-

    Do they even assay it? Because I've got some gold paint just ready to create a big stack of "collateral"... .

    I guess I'm just suprised they would provide a loan on something that is so liquid and "removable"... would you also have to pledge that there is a security system in place, or can they go after other assets if the gold is not there?

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  141. I think I smell some shorts simmering on the fire, all those fresh retail shorts placed @ $33 will panic hard if we can make it to $34.50-$35 during U.S. market trading hours tomorrow......

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  142. Whoa - guess some people aren't here from ZeroHedge. Avatars from France over there....

    ReplyDelete
  143. @ScottJ,

    Thanks for your comments on Revett @6:23. You're right, GPL same thing, just over longer timeframe.
    Good time to be buying some of these stocks as a bunch of them are currently at, or below the 200DMA. Cream is on sale for $0.20!

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  144. @kiwi... regarding SP.

    He mentioned that he has a small business (as do I).

    If you have a solid track record and solid relationships, you'd be stunned at the lending options that are available and even in this credit market.

    I've been amazed in the last year on what I've done on a hand shake or with a personal letter of guarantee or a letter from my accountants.

    I've thought about using physical as collateral if I had to, but have decided I don't want to disclose what my holdings are to anyone... not by attorneys, not my accountants... let alone anyone else. That said, if I let my accountants look at the metal and just count it (not assay), and they put it on letterhead, I'm pretty sure that just about anyone would accept that.

    I recommend starting some kind of business, no matter how small, to EVERYONE.

    ReplyDelete
  145. @kiwiquest07

    my banker has loaned me several-fold the amount with no collateral at all so i figure why not get more. keep in mind i didn't walk in and just come up with this idea. i have an established relationship with my banker so basically as my company grows and i use their services they go out of their way to help me. if they don't i'll move my services elsewhere. the bank has a ton of money, they don't need mine. but my banker is getting commissions on services provided to me and over a period of time i will slowly make that individual rich as well. so he tries his best to make it easy for me.

    quite honestly, the banks are not that into details--- if u haven't noticed the way they run things!

    it's all about who u know.

    ReplyDelete
  146. Greg - the avatars are one reason I seldom do more than skim the comments at ZH. As others have said, avatars like that don't set a good tone. It's the same reason I don't patronize auto mechanics whose shop walls are covered with racy photos of half-naked women.

    Spencer, thanks for raising this. And thank you, Americanfarce, for being a good sport and so considerate about changing your avatar. I really appreciate it.

    ReplyDelete
  147. @fortinbras

    what u mentioned is extremely important. if u r an employee, u have forgotten the biggest part of ur security blanket, ie, u r not "driving ur own car".

    doors for a business owner open up tremendously. i'm only solo for ~2years. my business partner has several PCs set up; sometimes they give him loans for 2-3x his income with little to no collateral.

    in fairness, it is not super easy just to get to this point, u have to be established and they pour through ur tax records and financial statements, but once u get through those doors, things start to open up.

    in fact to echo fortinbras, if i were still an employee, i would do everything in my power to focus on incorporation well before worrying about PMs!

    ReplyDelete
  148. Alright: after sitting quietly and mostly reading comments and staring at charts for the last week, I think it's time to weigh in. What I see in those 2hr and 4hr charts is a market that is waiting for the buyer(s) of size to step back in. Period. New shorts covering would be fine, dollar rolling over might do something, but overall? We are waiting for BoS to step back in and start accumulating like they have since August 2010 (with a small New Years pause).

    This market will move when the truly big money - and I'm not talking about hedgies or mutual fund managers, I mean the REALLY big money - believes it's prudent to continue converting wealth into PMs. Aside from this, all else is background.

    And the longer the sideways gyrations between 33 and 36 ( and 1470 - 1510) continue, the safer it is for them to get back in the pool. JMO

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  149. "In the spirit of the comradery this blog enjoys, and with the hopes that we can stay on the PM related topics, I will change my avatar."

    Seriously, thanks. Its attitudes like that make this blog what it is.

    I am nobody, and intellectually contribute very little here, but the fact that you did that for a nobody and more importantly for the spirit of commeradery speaks volumes and is an example to all of us, me before anyone.

    @fortinbras

    "Also, I don't remember any "please refrain from denigrating women" comments in regards to anything to do with Blythe/Ruprecht videos or comments."

    It could be looked at as hypocrisy on my part but though I don't necessaryly "endorse" those comments they don't put a stumblingblock in front of me the way an image does. I think that men here will understand that. I could spend all day around crude conversation and it wouldn't affect me, but images do.

    I think the apostal paul knew what he was talking about when he told timothy, a young man, to face spiritual opposition with boldness and not back down, but to "FLEE" sexual imorality. It is a nasty snare that destroys many. Sorry just had to explain that.

    OK I AM NONE. PROMISE. MY APOLOGIES

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  150. Guys, i see some people developing kind of negative sentiment and I, though feel for you, for once, want to warn you on a few fronts. Yes, there was a raid on silver and it kind of brought gold down a bit, as well. However, look from another angle, it did not go down as much, as we all know and it keeps grinding higher despite those fruitless raids, lately, if you think what is happening in big picture.

    Look what is happening in the world, all that uncertainty, European mess, which everyone and their grandmas know PIIGS are dead but they can not pull the plug for obvious reasons and no matter what/how they call it, ECB is under dip sh*t b/c of all that bank/sovereign papers.. I am not even going to mention US munis, states, housing mess, etc.. Further, Japan on printing spree on top of the decades long recession.. Debt ceiling, patiently waiting FED (yes, they are trying to convince politicians that fiscal stimulus is needed, monetary policy alone is not enough to avert big D), upcoming election year in 2012, etc. etc. Morover, all those EM countries and SWFs sick of Western assets and trying to buy commodity assets, diversify their portfolio exposures, fight with upcoming (if not already there for those EM) inflation...

    Besides, now, all of a sudden, rising DXY (temporarily that might be, but for money market funds, global macro funds, etc. this move is HUGE, and they manage trillions of dollar including their levered bets, causing some temporary shock in the market. WHat they are doing is that they unwind their FX positions and repatriating those assets back to USD and US treasuries, even if in the medium to long term, they have bearish views... You can NOT simply expect them to put all those repatriated assets back into PM. It is NOT in their mandates, they can not. It will take time, different angles.. Listen to Bill Gross, his mandate is a bit more flexible and he can afford not to put his cash in UST, however other fund managers can not afford this luxury.. It will take time for them to change their mandates..

    And now back to where we started, on the back of all these, Gold just gave up, what, 4% from its all time high of 1570s and now everyone is complaining? C'mon, grow up, all. My appreciation for PM, to be candid, went up ten times more in this current environment. Even silver is standing very well, lately, despite its fame for volatility in this kinda markets.

    These are literally perfect buying opportunities. I am not saying go put all your dry powder all in, at once. Buy some and if it keeps going down, add little more.

    I am normally a distressed portfolio manager and i trade many securities and i can tell you comfortably that PM is doing great and i am adding to my positions..

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  151. @sp...

    Completely agree... and without sounding "corny" to anyone, it was "Rich Dad, Poor Dad" that woke my up about 10 or so years ago and put me on the path I am on... and you are correct, it is a GRIND for the first 2-3 years, but SO worth it if you make it through the gauntlet of starting up. It was also Kiyosaki that led me to Maloney's book, and here... trying to protect what I've made.

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  152. @Fortinbras, sp

    Thanks for the info, that's good to know.

    I actually did start my own business on the side, manufacturing a piece of equipment. I'd still be doing it, but by the 4th year of operation, the mandatory taxes and fees (minimum taxes even when I broke even) plus massive insurance premiums (since I made actual hardware) were more than my likely profit for the year. And every week, I seemed to get some new form that needed to be filled out, along with new state fees of various kinds... I finally said "heck with it". It seems like you can't "ease into" a small business anymore, you have to go "full in" with a staff and tax guy and accountant etc just to afford the state and federal "overhead" of doing business legally.

    Bitter? How did you guess? But it's doubtful I'll ever try that again.... if I thought I could start a small business without having it choked by government, I wouldn't be spending my time playing with PMs.

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  153. @ Waffen ..

    Don't sweat it, Peter Schiff is always right ..
    ( correct that is )

    MR

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  154. @Spencer (and for anyone wanting to start a small business)...

    I'm with you, no problem.

    Maybe we could develop a device that one could wear on their head that would block ones field of view from seeing the avatar on the screen... when I was a kid, they had something like that to wear when you were learning to dribble a basketball and it prevented you from seeing when you glanced down... or like horse blinders!

    ;)

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  155. http://i52.tinypic.com/10prdhy.gif

    I attached the planetary price lines for Gold in 2011 for those who are interested in using astrology method to assess the price levels for Gold in 2011.

    We can see that Gold has been treking very closely to the 2011 Mars line(red) and it is being capped(supported) by it twice once on the 5th and again yesterady 17th. The Venus and Mercury PL also came in to support it. The ensuing bounce off from the 1472 levels lend weight to their existence, at least for those who are shorting relentlessly.

    for further comments and discussions.

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  156. Are we again going to have Asia buying up the PMs all day just for the traders in the US to sell them down again?

    One of these days US traders will decide to buy instead of sell, we'll reclaim $1,521 in a jiffy, silver will have a $3 up day, and miners will have a >5% up day.

    Everyone complains (legitimately) about naked shorting of the miners. But one thing is certain, whether naked short or covered short, it doesn't matter when the upward momentum starts: the shorts need to cover. That will, in Santa's words, be a "religious experience" for the shorts.

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  157. OK I guess I won't tell the story about the colombian go-go dancer that I spent the night with then

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  158. shoe shine boy,
    Thanks for your perspective. Well done and much appreciated.

    ReplyDelete
  159. @MollyRatchet...

    Now that I'm looking at avatars...

    HOW IN THE WORLD DID I MISS YOURS AND YOUR USERNAME!!?!?!?!?!?! ;)

    We're all just flirtin' with disaster here!

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  160. Really, Spencer? A 1/2" square picture of a butt in a thong causes you issues with lust? I didn't even notice the avatar until I scrolled back up to see what bothered you. I don't want to get all harsh on you, because you seem like a good dude. But that's some obsessive behavior.

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  161. My reading, FWIW, is that the fundamentals have changed a bit - in that QE2 is being priced out but QE3 is not yet being priced in. But much more importantly, sentiment has changed, and an awful lot of the silver run up was sentiment based too. Sentiment can and will change back, and QE3 will hove into view in the not too distant future. But in the meantime, I'm going to kep my powder dry. Meantime I reckon Asia will put in a bottom pretty soon. Perhaps not quite yet though.

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  162. Shh, Turdle. We ought not be talking about "naked" shorting, because that might lead to impure thoughts.

    Spencer, I hope you're cool with a joke at your expense. =)

    ReplyDelete
  163. It seems like the bottom line is right now the market is at a point of indecision. The natural current will take us into deflation and big problems. Probably the only reason that we haven't seen an '08 style crash is because to some degree QE3 is already being priced in.

    We all know it is coming. It has to come. For most of us the big question is what goes on between now and then and how long will that time period be. I don't think anyone knows.

    Personally, I am trying to stay disciplined and stay out. I don't use stops so this market is not for me. I think we could easily see an equities crash any day. I also think Banana Ben could come on and announce QE3.

    Bottom line is it is a very bad time be margined up on agq or zsl. I'll leave it to the pros until a clear trend is established and we know where we are going.

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  164. OK, let's get back on topic! I know it's 8pm at night for most of you guys, but it's 10am here and the war against the EE carries on!
    Do you think our enemies are straining their eyes and using the magnify feature on their browsers to see what the fuss is all about? Do you think a shapely posterior is going to distract them from taking money from your trading accounts? Do you think it's all a laughing matter for them? No, no and no!

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  165. @tpbeta and Spencer... I agree.

    I quit trying to play paper a week ago, just sitting on my physical and my powder for now. Like I said, it took about a week of fidgeting and losing a bit at a time, but now I've stopped and am at peace for now.... that said, can't wait to get back in with both feet!

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  166. @turdle...

    What? Over? Did you say "over"? Nothing is over until we decide it is! Was it over when the Germans bombed Pearl Harbor? Hell no!

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  167. @SP & Fortinbras

    I think the single best thing, among many pieces of sound advice, that I got from Kyosaki (even if he has turned into a "douchebag" now), is his "cashflow quadrant". Sums it all up very nicely. If anyone here has not read his book "Increase Your Financial IQ", I recommend it. You may already know everything in it, but then you may never have thought of some things he points out.

    @Kiwiquest07 & others. I do not know how anyone starts a business these days. I would not even consider it without having huge capital. Not in the USA. Of course I am now 62 and that makes a big difference. But, seriously, what a minefield it is.

    The two businesses I will consider, however, are agribusiness and rental property. Speaking of which, Fort, I once asked if you knew anything about switchgrass. Do you?

    Thanks!

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  168. The buzzword today is "sector rotation." Makes me wanna be a boring old investor and buy up lots of PG and take a 6 month nap. If "the street" was convinced of the growth story they'd still be levering up and getting into the high fliers like AAPL and NFLX. Those names have just been treading water for most of the year.

    Personally I find it hard to imagine that BB is going to come out with something like QE3 before letting the markets come down a bit more, but if he does, watch how fast that "sector rotation" re-rotates right back to where it was.

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  169. Spencer, i totally agree on QE3 observation. Think about it, Ben publicly and formally stated that he will NOT allow the mistakes of 1930s and if need be, will drop benjamins from his infamous helicopter..

    Further, he will not come up and say QE3 is here. He will make sure everyone suffers a bit so that he can justify his actions in FOMC meetings, in public and what have you. He is not stupid, he is a very smart guy and he knows what he is doing and he also knows the ramifications of not doing what he intends to do.

    Keep blaming however you want, but i am on the belief that Ben is a very smart guy and there is a real reason why he is doing all these QE infinity. I rather live in QE-world than otherwise, despite my non-leveraged financials.

    But then again, until QE3 or whatever it will be called, the markets in general will be very volatile.

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  170. Just WAY awesome! This blog is special indeed! Thanks TF and all for that. 2222222222222222222222222222 (oops that was baby Arlee, our new kitten) :)

    ReplyDelete
  171. @kiwi

    sorry to hear u had a bad experience. there is always that risk. but as we were saying, the benefits are pretty powerful. when u r individual no one will give u $100k to go buy XYZ which will make u money. when u r a business, they will do this in a heartbeat if they think u can make it profitable.

    for me, there was/is no choice. unfortunately, i decided to go to medical school & ultimately graduated with $300k in debt and a schedule that had me working 80-100 hrs a week after residency. i was earning 50% of my income after taxes with no deduction for the loan repayment. i was paying 10k per month on those stupid things.

    when i did some basic math i realized i either needed to go it alone or move to canada (i know it is insane, but it turns out you get paid more as a doctor there than u do in america). i think it is prob easier to open a business when u r doing what u would have been doing anyways but again if u ever think u can do something this way it is much better than being an employee (at least in my world)

    btw i would highly suggest everyone avoiding using astrology for trading.

    also as much as i thought spencer was nuts pointing out an avatar (shades of saudi thinking scare me), it may have been for the best. truth be told, that avator was overwhelming. everyone would stop giving a rat's ass about turd's bottom with that thing around, we would have all gone broke....lol

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  172. Fortinbras,

    I don't know how long you've been a Turd follower, but Turd wrote a classic post a few months ago, using that very "Pearl Harbor" line. It was very funny. I'll see if I can find it.

    My ranting post with all the questions and the no, no, no! was actually a poor imitation of Turd.

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  173. @Turdle GG: Attaboy! Get us back on track!

    @Pining: I agree with your assessment. Probably most everyone here does. The BOS will come in when they decide the support level has been set and hey aren't going to get a much better entry point by waiting. I am hoping we are there.

    It has taken me a bit longer to reach Fortinbras' state of serene patience. Like I'm still not quite there. :)

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  174. @OldNavy said...
    "I think the single best thing, among many pieces of sound advice, that I got from Kyosaki (even if he has turned into a "douchebag" now), is his "cashflow quadrant". Sums it all up very nicely. If anyone here has not read his book "Increase Your Financial IQ", I recommend it. You may already know everything in it, but then you may never have thought of some things he points out."
    ______________________________

    Completely agree on all regarding Kiyosaki... I'm not a kool-ade drinker of his business wise, but everything you mentioned regarding him (and Mike Maloney's Guide to Buying Gold and Silver in the Kiyosaki series) changed my life on my own path... "Financial IQ" led me to the property in KY that had a combination of pasture, timber, coal and 3 natgas wellheads on it.

    As for "switchgrass," no, I didn't know anything about it until you mentioned it, but I've been reading about it for about two weeks, so thank you for mentioning it.

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  175. Fortinbras,

    Found it, December 16:

    "All I did was extend the time period of our little window. Was it over on 10/27 with gold at 1325? Was it over on 11/29 with gold at 1356? Was it over when the Germans bombed Pearl Harbor? Hell, no! And it ain't over now! Avoid the wannabe top-callers and junior technicians. Don't let them frighten you with their stochastics and their RSIs. Ignore these people. History shows us that gold is going still higher. It may trade sideways for another day, even another week, but higher it is headed."

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  176. @ Minster

    I've got no problem with a good joke.

    Regarding the obsessive behavior. I actually don't have a problem. Maybe that is why I am so sensitive to it. I've been a Christian long enough that when there is a photo like that looking away is as natural of a reflex for me as not noticing apparently is for you. If you want to talk about obessive behavior check out the statistics on the number of men who are porn addicts. I'd say what we have here in the USA is more in line with a mental epidemic than obsessive behavior.

    Whether someone is a christian or athiest it is a proven fact that men are stimulated by images of attractive women, that is all there is to it. People can talk tough all they want about how they are unaffected by things like that but I wasn't born yesterday and I have counselled enough people to know how things work. Thoughts lead to actions.

    A guy named james said "Everyone is tempted by his own desires as they lure him away and trap him. Then desire becomes pregnant and gives birth to sin. When sin grows up, it gives birth to death."

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  177. Exciting day, folks! HKMEx is live, the gold futures contract has started trading. Total volume so far is 2!!

    Track it here:
    http://www.hkmerc.com/en/market_news_data/today_quotes_news/HKG/index.html

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  178. I really enjoy the banter, but all should realize that when the market acts this way we tend to get a little short with each other verses when it's moving our way....

    Silver is doing just fine IMHO and I added some below melt over the weakend....

    Sell when others are buying and buy when others are selling.....

    But you all know that already

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  179. OldNavy said...

    "It has taken me a bit longer to reach Fortinbras' state of serene patience. Like I'm still not quite there. :)"
    _______________

    Well, after the May Day Massacre and ensuing week, it then took me another week of just chasing stuff up and down (and another -7% or so) to realize I just needed to step back for awhile.

    Now, I'm just following the Turd more and my gut less... it's AMAZING how productive I've been again now that I'm not hanging on evey word/tick! ;)

    Uh oh! NO ONE is going to believe this given the avatar imbroglio, but the word verificatin I just got was "sperm"!

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  180. Any guesses on timeframe until QE3?

    How low does the dow/sp have to go before the whole country is crying uncle?

    Does anyone see an equities meldown or more of a general slide/ panic selling?

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  182. Spencer said...
    "Whether someone is a christian or athiest it is a proven fact that men are stimulated by images of attractive women, that is all there is to it. People can talk tough all they want about how they are unaffected by things like that but I wasn't born yesterday and I have counselled enough people to know how things work. Thoughts lead to actions."
    ____________________________________

    This is EXACTLY why the burqa exists. Apparently, this guy agrees with you:

    "In the religious address on adultery to about 500 worshippers in Sydney last month, Sheik Hilali said: "If you take out uncovered meat and place it outside on the street, or in the garden or in the park, or in the backyard without a cover, and the cats come and eat it ... whose fault is it, the cats or the uncovered meat?"

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  184. Has anyone tracked Trinity B or Blythe or even WB posts to actual market action?

    Would be interesting.

    @TurdleGG... yes, I remember that post in December! :)

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  185. If you would like to view a leading indicator of where silver is heading try ebay. Right now 10 oz silver bars are selling for about $43.00 an oz....

    1 oz American Eagles for about $45.00 each......

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  186. Fortinbras

    we odbviously have very different way of looking at things or else you just really like to play devils advocate.

    I agree to disagree and get be back on topic. I am sure if we could have a conversation we could get somewhere but this is not the place for that and we are starting out on a big philisophical theme.

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  187. @Fortinbras

    You got it ... but when the COMEX defaults .. well these are "dreams I'm gonna see" !!!!
    Never say never ...

    MR

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  190. @Spencer...

    Yes, I'm playing devil's avocate, but for a reason.

    I have faith, but I am no fan of organized religion of any kind, that's just me.

    I'm pretty much a fan of the ten commandments though, but I like this quote attributed to Abraham Lincoln even more...

    "When I do good, I feel good. When I do bad, I feel bad... That is my religion."

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  191. My oh my...how this thread has meandered through jumping the shark!

    That ignore button can't come soon enough.

    Also congrats to everyone who bought in at $33.

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  192. As should be expected, HKMEx gold futures contract for August is trading very close to the COMEX August contract. Volume now up to 25.

    http://www.hkmerc.com/en/market_news_data/today_quotes_news/HKG/index.html

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  193. @Turdle GG

    Thanks for the link and the info!
    I see volume is coming up strong and they have added a 1 December contract as well (48 total now)

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