First, here's crude. It continues roughly in the same range its been in for nearly four weeks. At present, it is swinging higher again and needs to break $101 in order to attract more substantial buying interest.
Gold is sitting idly as traders seem to be waiting to see how Pigatha Christie fares in Asian trading. The pig closed so poorly on Friday that weakness should be the order of the day on Monday so look for gold to move higher and challenge for the third time the 1550 level. Third time is a charm???
Lastly, please take a moment to read this article by Jeff Nielson. Though I don't agree with all of his conclusions (particularly confiscation), much of what he states is factually correct and in line with common Turdology.
http://www.bullionbullscanada.com/index.php?option=com_content&view=article&id=19325:hyperinflation-warning-for-us&catid=47:us-commentary&Itemid=132
I am convinced that, in the end, the U.S. will lose/surrender/forfeit some measure of monetary sovereignty. More on that later this week.
Have a great overnight and early Monday. TF
Furst!
ReplyDeleteThanks Turd =]
ReplyDeleteHi everyone:
ReplyDeleteI'm interested in getting people's opinion on something I have noticed recently.
Ever since the May 1st/BinLaden crash has "settled" a bit, I've noticed that gold and silver will often move in completely OPPOSITE directions. This seems odd.
Usually, Au & Ag move in unison, even while Ag may be an "exaggerated" wave compared to Au. Case in point today's Sunday night open. Gold and silver charts are exact inverses of each.
So what does this mean?
Does this signal something nefarious or does it somehow reflect something with the Au:Ag ratio?
I'm interested in your thoughts.
What do YOU think?
~~~"The Jeepster"
TF, we already have given a measure of sovereignty up. Our vote really doesn't matter. a friend just returned from Greece, her guides told her that the people never were given a choice in joining the Eurozone and most of the money isn't going to people it's skimmed off in a corrupt gov't. Sound familiar? How much of the trillions spend by our government do you have in your pocket?
ReplyDeleteMonsieur Turd, could you provide a link, somewhere, which allows us to quickly look up the various "Turdisms" which pepper your most excellent posts? Calvins, pigatha christies wicked witches, FUBMs....man oh man, it's getting a bit tough at times for this old gaffer to keep up.
ReplyDelete@Markus
ReplyDeleteI can think of several reasons why Turd solicits donations for the site:
1) Turd is already giving us daily, and sometimes multiple daily well written, insightful, and chart laden commentary for FREE. Good writing is hard work, and he's already doing that for free, you want the web site costs to be an act of charity as well?
2) Asking for donations is a great way to judge actual interest in the site, as opposed to folks who just come on to stir up a shit storm (sound like anyone we know?)
And who knows, maybe Turd does make 8 large every week, maybe he'll treat us all to a double frozen yogurt sometime... but I don't have any problem with supporting the maintenence of a community that I'm happy to be part of.
Nuff said.
"and I will get attacked for this"
ReplyDeleteThat's why I am able to increase my wealth - I have good forecasting skills.
@ Markus
ReplyDeleteTurd may not be the best metals trader out there or even as good as yourself, but he is willing to share his knowledge with those of us and is providing a place for us to learn and you sir are not.
~fin~
Turd,
ReplyDeleteThis link doesn't seem to lead to the article. I just get a blank page using Safari. Maybe it's just me?
Thanks Turd.:http://www.bullionbullscanada.com/index.php?option=com_content&view=article&id=19325:hyperinflation-warning-for-us&catid=47:us-commentary&Itemid=132
@HB
ReplyDeleteIt's working for me (Mac w/ Safari) it's def not broken but try this man:
LINK
Hey there HB....must be safari. I got to the site with Chrome no problem.
ReplyDeleteRe: donations
ReplyDeleteLongtime turdites will recall how I sheepishly added the "feed the turd" back in December. So many were clamoring to give me money that I thought it was silly to not accept it.
In the six months since, the donations have nearly been sufficient to cover the entire cost of building the new site.
I can speak only for myself, but I can imagine exactly what would happen if the gov't tried to seize my(our)PM's....can you say "lock and load" ladies and "gentle"MEN...
ReplyDeleteDoes anyone know the Elliott Wave count on both Gold and or silver. Does anyone follow Robert Prechter on the gold and silver.
ReplyDeleteI am trying to get up to some speed and wonder what the wave count looks like.
I figure that might give some clue as to if we are going up or down or sideways this week.
APMEX INVENTORY:
ReplyDelete2011 silver eagles: 41730. Down from 140000 four weeks ago.
2011 silver maples: 8680. Down from 41000 four weeks ago.
I should be getting my free 500 oz silver maples some time later this week. (free because I took profits in some mining stocks a while back).
ReplyDeleteRe: donations
ReplyDeleteTurd said:
Longtime turdites will recall how I sheepishly added the "feed the turd" back in December. So many were clamoring to give me money that I thought it was silly to not accept it.
In the six months since, the donations have nearly been sufficient to cover the entire cost of building the new site.
I (we) say good on you and good on such a wonderful place to be together...almost paradise..
Thinking more about what I said much earlier. if and that is a big IF. If we are in a correction ABC wave then the C wave probably will go a good hit below the recent low. Probably down to something even below 30 like down to 28 that someone else mentioned.
ReplyDeleteIf the bottom of the C wave is not to be too low then we want this B wave to go up as much as possible.
sockeye1:
ReplyDeleteThere is a school of thought that believes that gold needs to die to live - ie, that deflation will crush the price of gold (paper gold) and that the real gold will assume a free market price well above the paper price (something in the order of $50,000/oz).
Check out FOFOA for more info (google it).
Freegold is coming - but first the paper gold price needs to die. So keep some FRN's handy or just stock up on necessities. I have many years worth of food and supplies so I have very few FRN's.
sockeye,
ReplyDeleteAll that to say: Just because the paper price of precious metals may drop to some obscene level ($27/s, $$900/g) that does NOT MEAN that you can purchase those metals (real metals) on the free market at such price. The likely scenario is for the price of metals to get absolutely slaughtered - but for there to be NO SUPPLY AT ALL for the physical metals.
Markus, if you are such a fucking expert, then how is it that you believe trading and investment are zero sum games? Fact: Futures and options are zero sum games, but the stock market is not, as wealth is created there (long term).
ReplyDeleteI agree with some of the rest of what you wrote, but you sure are an arrogant dick about it. You've been angry and talking down to this blog for weeks. I can't help thinking that *you* are one of those who's losing his ass on the trading floor.
Same goes for food and oil. Probably we will have $80/bbl oil and wheat get slaughtered. But that does not mean that you can buy gas for cheap, or even buy food.
ReplyDeleteThe monetary system will become DISENGAGED with reality at some point. And that is the point where you wish you had paid $40 per coin vs. have no coins but have $40 cash and nobody is selling.
I was around in early 2009 and NOBODY in the Philadelphia area was selling metals. I had to wait three weeks and plead with a coin dealer to alert me when coins where available. I had to leave work right then and there to go pick them up. Scarcity.
@Markus - most of the negativity here seems to be you. Frankly, you act like a real dick.
ReplyDelete@reefman
ReplyDeleteI was also trying to buy silver in the fall of '08. Spot was $10. Local dealers were charging spot plus $3 IF they had any.
25th...double duh
ReplyDeletemoney bomb for turd?
ReplyDeleteNielson's article brings up a good point which I had completely missed in my prior thinking about hyperinflation. I have been in countries that were suffering from failed currencies. They were able to cope by using the currencies of other nearby countries (rubles, D marks and, always, USD). As Nielson points out, the Zimbabweans got by using USD.
ReplyDeleteThe point he smacked me with that I hadn't seen before is that we won't be able to do that because nobody else has enough of their currency to meet our economy's needs. Whoa! I totally missed that! Even if the CAD remains sound in the face of their biggest trading partner's bankruptcy, there ain't enough Loonies in all of North America to meet the needs of New York state, let alone all of the USA.
There ain't enough gold & silver either. Perhaps the various state currencies being advanced will be the solution, but the majority of the states have solvency issues as well. Plus, we have the issue of elctronic payment. You can't use your debit card at the gas pump if you're using an alternative currency.
So much to think about in this "prepare accordingly" thing!
BTW, on the previous thread, I was not suggesting that all the requisites for hyperinflation are not already in place. What I was suggesting is that the money supply MIGHT suddenly shrink if there was another big debt implosion and that imaginary dollars can disappear almost as easily as they are created.
Like I said - Lots to think about!
Who is this markus guy (not to be confused with this fine swine, I hope) who's being flamed? What did he say that has peoples' knickers in a knot?
ReplyDeletehe said he never takes advice from this board, just uses us for our links.
ReplyDeletehere's and incredible finance link:
http://youtu.be/l5qFiutuOZ8
replace lincecum w/ turd
@Marcus
ReplyDeleteNot you man!
Check the very end of the previous thread and you'll find some rather abrasive "get out your all idiots" type posts 2-3 of them.
Jeff Nielson has been talking hyperinflation/confiscation for quite some time. He knows what he's talking about and may be right about this, although I'd expect no "physical" confiscation ala FDR, but a taxation that would be tantamount to theft. Or the Barter Police or some other dubious collection of assets. Jeff will go on a major rant now and then. But with all the Cartel crime going on, complacency and useful idiots chirping the talking points who doesn't.
ReplyDeleteBefore I go on one, thought I'd throw out a "what if". The Bernank & Co. has the US living on the very edge of the financial abyss. One Black Swan would be more than all the Cartel could manage to manipulate away and stuff in their pockets.
What if a few countries get so outraged at American shenanigans (in all markets), they decide to break out their own HFT and, when the Cartel (and Blythe) least expect it, they go on an algo buying frenzy and ram the shorts to oblivion.
Or they could just counterfeit the POSX into toilet paper status within weeks. Much like the printing war waged prior and during WWII.
Sorry. Reading Nielson does this to me.
Ironically, I thought Markus made a good point. Not diplomatic, to be sure, but he wasn't trying to be and I can handle that.
ReplyDeleteI say he made a good point, I mean from my personal point of view. In fact earlier today I was looking at the 1 year silver shart and thinking: Hey, Dummy (that would be me), if you had just bought all the SLV JUL 32 calls you could afford back at Turd's Bottom in January, you'd be sitting pretty today, you dummy! (for added emphasis).
So, even if Markus wasn't very diplomatic, I actualy have to agree with him to some extent. I kind of appreciate a little head slap now and then, it aids in my learning process! :))
silver is making some moves
ReplyDeleteRE: Confiscation of PM's.
ReplyDeleteUnlikely, IMO. Contrary to what many seem to think, FDR did not "confiscate" gold. He issued an executive order that Americans should trun in their gold in exchange for FRN. At the time gold coins were still valid currncy. He had to end that so that the paper currency could then be devalued. He also had to get rid of the "gold clause" which was common in most commercial contracts at the time. This allowed parties to require payments to be made in gold or an amount of currency equal to the weight of gold that would satisfy the ORIGINAL value of the patment. FDR got congress to pass a joint resolution defaulting on the gold clause in all public AND PRIVATE contracts, to which Senator Thomas Gore of Oklahoma said, "Why, that's just plain stealing isn't it, Mr. President?"
Someone said in an above post that the way the government will go after the PM's is by using the tax code. He is right and that brings up one of my favorite subjects. END THE INCOME TAX, ABOLISH THE IRS: ENACT THE FAIRTAX!
not that I giva sh*t... But if I was having a drink at the bar talking with this Markus, I would kindly let him know what an arrogant oppressive attitude he presents and can pretty much F' off.
ReplyDeleteEven if he does make a point, bet he would hold his own mother underwater, to prop himself up to catch one more breath...
It wasn't just "someone", it was Larry. :)
ReplyDelete@OldNavy,
ReplyDeleteI agree confiscation is unlikely, but what's more likely is the outright outlawing of gold and silver to settle debts privately. I can see some "threat to national security" or something akin to the argument used in court to kill the Liberty Dollar.
Also, no tax can be called a fair tax, taxes are immoral and unnecessary in a free market and property-oriented economy. Hang all the bastards.
Markus:
ReplyDeleteThe fewest here even follow the COT reports or know what they mean. Or open interest. Or the lease rates and backwardation. This is vital information, and 90% of you do hardly know what it means.
I know what it means. I don't pay any attention to these numbers because I think they're bogus so why bother. Any info that comes from TPTB, I assume is a lie. They're not going to let the peasants have anything useful. But it was nice to you to try to help us out, thank you for your concern.
If the USD were to fail in quick fashion, what do you think would happen to 401(k)s, IRAs, etc. that are denominated in dollars? Think about money markets and CDs, pension payments, every facet of our citizen's lives marked in terms of dollars. Does the ruling class have a solution to such a crisis or are they jetting out of the country when the time comes?
ReplyDeleteOk, now I see who this markus guy is and what he said. While I do concede that his comments may come off as condescending and abrasive, especially with regard to Turd (whom I personally believe to be a straight shooter and a great American), I must say that markus has some valid points regarding the emotional roller coaster that comes with trading, especially futures trading (feelings I can attest to, having gone bust twice for a total of 200k before painfully clawing my way back to break-even). Trading futures has to be the toughest way there is when it comes to easy money, and the gut wrenching emotions that one can experience with futures is like nothing else. Trading futures is like being a pedestrian in any large city (in that there are only two types): the fast and the dead.
ReplyDeleteThese are my 2¢.
Markus said...
ReplyDelete"and I will get attacked for this"
That's why I am able to increase my wealth - I have good forecasting skills.
June 5, 2011 7:18 PM
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
wow, you are able to see the future huh "Mark US"?
Like if you fart, and say wow that is going to stink... Makes you a genius.
Hyperinflation???? The US does not control its currency......the Federal Reserve does ...His premise is completely wrong...do you really believe the masters of the universe are going to let you default on a currency they completely control? hahahahaha......The very small group that run it all are laughing their asses off....hehhehehe.........like they have for hundreds of years they will drop the elevator to the bottom of the shaft. gl
ReplyDeletewhat is it with 36 ishhhhhhhhhhhhhhhhhhhhh....
ReplyDeleteInquiring minds would REALLY like to know.
@Gramp - Haaaahaha
ReplyDeleteTroll said: "I am here because I usually liked the atmosphere"
China and Korea holidays?? Anyone know?
ReplyDeleteLaMachinna, according to the sheet i have about market holidays, its an asian stock market holiday. I don't know if my list is reliable or not.
ReplyDelete@LaMachina The chart shows that this battle line at 36.50-75 area was a significant prior level of support that was broken and has become overhead resistance... It will take a while for the 'I want my money backs' to get their money back and therefore their is a lot of overhead supply to chew through right here.
ReplyDeletePretty normal for it to take a while to move above that. Might take a retreat regroup and multiple attempts to push above. Normal market behavior so far.
OldNavy, does that mean I’m nobody? ☺
ReplyDeleteOn FDR, I've read all that too and I agree (and said) that phys confiscation wouldn't be expected. But point is, the guvment and power elites will do whatever is necessary to take your money and grow their wealth and power. It's what they do. FDR's confiscation wasn't successful, but he jacked up the gold price after the collections did come in. Too few "enforcers" to make a big dent. But boy oh boy... if that particular man only had the HFT technology and digital money and IRS agents and media that we have today... well, you get the idea.
And as much as I'd like to see a Fair/Flat or Sales-Only tax system, I just don't see it happening. Too many politicians, CPA's, lawyers and Socialist lobbyists to fight.
Meantime, we're letting our infrastructure decay and new wars being created every day. Instead of sanity in fiscal matters, we get "shovel ready" bike paths and nature trails for the handful of people out of hundreds of thousands that might one day use them.
Never fear the rulers. Fear the massive number of entitled class of people that get their meal ticket from them and vote them into office. Never fear the vote, fear those that count them.
This comment has been removed by the author.
ReplyDeleteCompletely off-topic and probably of very little interest to the group, so feel free to skip right by this comment, but...
ReplyDeleteAt $1542.20/oz, I'm in the black (or is it green?) by $1.94 on the first gold coin I've ever bought in my life: a 50 peso "Centenario" I picked up for $25 over spot on 5/24 when gold was around $1522/oz. Nice to know I finally broke even on this thing! Although my local dealer only pays 95% of spot, so I still have a ways to go...
@Eric#1 - you were right, this thing is hefty. Just SLIGHTLY smaller in diameter than a Morgan, but a heckuva whole lot heavier.
With all the talk of confiscation lately, maybe I shouldn't even be talking about it... eesh.
Looks like Humala leads in the Peru election exit polls. Conventional wisdom is that this is bad news for Miners with Peru operations.
ReplyDeletehttp://incakolanews.blogspot.com/
sockeye, QuadG is devoted to applying EWT to gold _et al_ and can be found at his Kitco thread Major Market Movements.
ReplyDeleteTF my initial reaction was the same as an initial poster's re: dollarism, but of course you're referencing the fact that it's only being nibbled at as yet. look forward to your insights; as long as it's the reserve currency and our military holds up, the games will go on (and on).
Chris
ReplyDeleteYeah, that's a serious chunk of gold you've got there. Folks don't really appreciate the difference in density between silver and gold until they get some of each, in comparable size coins, right in their hands. Then it's immediately obvious. And feels amazing :)
Looks like Humala is about to win in Peru, that will have a meaningful impact on silver in the longer term, and maybe short term too?
ReplyDeleteHumala is a Hugo Chavez clone, although he pretends he is Lula.
Anyone with miners in Peru better be prepared to get out, as at some pount in the next few years those mines will be nationalized, IMHO.
Anyway, even if that doesn't happen, why take the risk? Buy a miner in Chile instead.
US $240 billion dollar bank fraud.
ReplyDeletehttp://www.wanttoknow.info/911/black_eagle_trust_fund
Larry
ReplyDeleteYou are definitely somebody in my book. Of, course, I don't know WHO you are, but you're definitely somebody! :))
I do not advocate for the FairTax, or for Ron Paul for that matter, because I think either of them is very likely to succeed, but because I think people need to hear about them and hopefully think about them. Ideas are powerful and this is a good place to spread them.
1913 was a hell of a year. FED created, income tax system created, senate elections changed to take state legislatures out of the loop. It was the birth of our modern Federal Government run society. One hundred years of that is long enough, don't you think?
@Larry
ReplyDeleteAnd I like your avatar.
This comment has been removed by the author.
ReplyDelete@Shill
ReplyDeleteA quick scan of the article at that link makes me dubious. I was stationed in DC at the time of the 9/11 attack. It is unclear whether the plane that hit the Pentagon was even originally targeted against that building, based on its flight path. There was no Naval Command Center in that wing. The Pentagon is basically just a lot of admin offices. The NMCC (National Military Command Center) is in the basement and most of the time only has watchstanders in it.
The Office of Naval Intelligence concerns itself with things like the Chinese Navy order of battle (ships and aircraft) not investigating financial crimes in the US.
Shit! That's right. Big Chinese holiday today!
ReplyDelete"Humala is a Hugo Chavez clone"
ReplyDeleteWhew, yeah!
I mean, imagine the ensuing chaos if he were a Soetoro clone.
Well, folks, that's it for me tonight. I am thinking I will stay off the silver bull this week. Gold looks more promising. We'll see what the morning brings...
ReplyDeleteCheers!
I hope everyone is prepared to get paid this week. If you are short you should prepare to cover.
ReplyDeleteHello all.
Thanks Turd. I'm excited to see the new site.
ReplyDeleteFor those buying physical gold and silver coins, I've found Tulving to be the least expensive, if you're buying large quantities. 500+ silver ozs.
ReplyDeletehowever,
For those buying less than a Monster box of silver or 20 ozs of gold, I've found Lear Capital to be the best prices, if you get free shipping.
You can use the shipping code below:
FREE SHIPPING with Lear Capital.
Use Code: 8B74A
Minimum order is $1500
One per House Hold
Yes, I get referral points.
Yes, it helps you.
Yes, I was turned on the Lear Capital from someone else on this site.
Titus
ReplyDeleteDragon Boat Festival is considered a minor holiday in China, the National Day is the next major one in Oct 1-7, 2011.
I think many here are missing an important piece of this puzzle. That being the Yen, and more directly the Yen carry trade. Recent, and ongoing disaster in Japan has very negatively affected participants in that trade. Japan will repatriate funds To rebuild and continue to pressure their currency higher, which will in turn place more pressure on the Y/C trade. It appears ~123 level basis Japanese Yen index is critical. I am watching for "something" to be done to cap that level, or perhaps increasing steps higher, to ease pressure and buy time for orderly exit. We are @ that 123 level as of Friday.
ReplyDeleteFor the Doctor of Love and the Mrs. ~~~
ReplyDeletehttp://www.youtube.com/watch?v=BKPoHgKcqag
Let's get it on.....
Silver clawing it's way toward $37...
ReplyDeleteStill paying.
ReplyDeleteDelinquent Homeowners to Get Mortgage Help From Government - CNBC
http://www.cnbc.com/id/43281199
Why?
@oldNavy
ReplyDeleteSorry I know I should not go here, but what hit the Pentagon was right exactly on target. It took out the accounting department that was investigating the misappropriation of 2 Trillion dollars.
Just some basic simple research from Testimony given by Former Secretary of Transportation Norman Mineta. You may have been in DC but he was in the same room as Cheney
http://www.youtube.com/watch?v=mGI5BmNd7AE
The Home Affordable Modification Program (HAMP) program is a complete disaster and totally in the hands of the banks. They told me that despite my destitute condition (and drawing down on my IRA to pay my mortgage), they will not lower my interest rate b/c I don't make enough money. I told the banker: F off...you can lower my interest rate, but you won't. I was more than royally pissed that they REFUSED to qualify me for this program...when I am way below poverty level (and working my ass off...too...) At that point if we were really in a revolution, you can imagine what I would have done with a Magnum. I have shot off a Magnum and I believe in the Revolution, as in "revolving" and "turning."
ReplyDeleteI trade mini Silver on the NYSE Liffe exchange.
ReplyDeleteI'm confused when I see a huge volume spike out of nowhere and then not seeing any effect on the price.
For example, most of the bids/ask I see trading are lots of 1 or 2 contracts at a time. Occaisionaly 10 or 20 will trade at a ceratin price.
About an hour ago a saw a trade for over 1,000 contracts go through at 30.705. The price did not rise or fall immediately as I expected. Since then volume has returned to normal and it has stayed in a 10 cent range.
Does anyone know how 1,000 contracts change hands in a minute or so and it has no effect on the price? Epecially when there were only a handful of bid/asks around that price when the large trade went off?
Just seems fishy, but then again I new to this stuff so I could use some educating about it.
I only memtion this because I've been following the tic by tic movements quite often on
Sunday nights (over the last 3 months) The largest trade I've seen go through in a minute was 275 contracts. So a trade of over 1,000 contracts got my attention.
Anyone know how this works?
@ Old Navy and Y'all
ReplyDeleteWorking in the basement of the Pentagon gives DIA agents the chance to do what they really love: carve Venus of Villendorf's out of wood. Mellow men I love them.
Fred that is interesting, I watch the same volume info by the tick and have never seen more than 25 at a time on that contract. I have believed for a long time without direct evidence that the blocks of 25 contracts at a time were the algos. The HFT trading fascinates me.
ReplyDeleteI just re-read this Martin Armstrong article about the sunday silver massacre, its a good read if only to see how accurate he was going into the first week of may.
http://armstrongeconomics.files.wordpress.com/2011/05/armstrongeconomics-the-silver-crash-of-2015-050611.pdf
Fred, when you are trading mini-silver, you are not trading the main Comex SI contract. You are trading a subordinate contract.
ReplyDeleteProfessionals are buying and selling not according to that small market, but according to the large Comex SI contract. My guess is that in the mini-silver contract, professionals are buying and selling arbitrage opportunities -- where a contract on the mini-silver can be bought for less or sold for more relative to the SI contract.
The advantage of mini-silver is the size of the contract is smaller so you need smaller capital to play. But that is the only advantage.
The main (very significant) disadvantage is that the contract is not nearly as liquid -- i.e. there is a big spread between buy and sell. My guess is that most of the action in that market are professionals who are taking advantage of people who cannot afford to play in the larger SI contracts. (This is my own guess based on: Why would anyone trade mini-silver contracts when they could trade a much more liquid Comex SI contract?)
I don't know if this is helpful or if I answered your questions. I have never tried to trade the mini-silver contract because of the il-liquidity.
If anyone wants to jump in here and correct my response, I would be happy to hear it. I'm really mostly guessing here.
I thought the reason the contracts are only 1000 ounces is because there are commercial users who need or use less than 5000 oz a month. Say you have a manufacturing business that actually needs 3000 ounces a month.
ReplyDeleteI have a 1000 oz contract because I would like to go through the process of taking delivery and see what its like. Ideally I want to have the bar shipped directly to Golden State mint and have them made into rounds.
I notice a lot of differences between the two contracts, another thing is that the smaller contract usually trades a few cents higher but have never been able to figure out why.
@Silver Bug,
ReplyDeleteMy wife is Taiwanese. According to her it is an important holiday. That's my source. I'm not saying you're wrong.
My prediction for AGQ tomorrow: Opens moderately green and continues slight uptrend for a couple of hours until a rather alarming decline forcing those with tight stops out of the game. Vacillates randomly much of the rest of the day on lighter than normal volume before a predictable decline until close resulting in a small loss.
ReplyDelete@Fred it could be this
ReplyDeleteFrequency Computer Traders
Catching up after being away the weekend.
ReplyDeleteMy ZSL sold nicely late Friday aft when silver went under 36 and the AGQ buy also clicked. Feeling good about that. Thinking we could get back to 38.50 sometime first half of the week (Tues or Wed) but without news expect this week to look like last weeek that is price letdown after looking like 39 is possible.
Markus you're pretty much a goof. Some random 'good points' but no attempt to make anything useful out of them.
If predicting you'll get called out for acting like a pompous ass is the reach of your forecasting savvy well I know a few guys who can get their butts kicked harder than yours and see it coming. Hate to break it to you that's not a rare skill among that crowd.
Word ver: picatill
Trolls will picatill they have a tunnel up their nose.
i get the feeling they will hit silver overnight, seems to unusual high volume for time of day.
ReplyDeletei hope they do it - BTFD
It seems that Tulving has reduced the premium on 100 oz JM/Englehard bars to 84 cents. It was 89 (or maybe more) a couple days ago. All other silver premiums seem the same.
ReplyDelete@SilverBleve
ReplyDeleteA single 1000 oz bar from LIFFE can't be physically settled. Seller's discretion and takes five contracts to get the physical, otherwise paper.
The specifications and rules state that a market participant who is short one or more Mini-Sized Silver Futures Contracts has the option to deliver one or more Warehouse Delivery Receipts (or WDRs) in satisfaction of the short’s delivery obligation. In addition, the WDR program has from Sept. 8, 2008 also required that 5 WDRs be submitted to receive a vault receipt, which can be used to take Silver out of a vault.
Additionally, while silver mini's are a viable lower cost alternative to play the futures, beginners beware. The COMEX market opens at 6PM ET - the LIFFE at 7:16PM ET. That 76 minutes can be three lifetimes if the market is going hard against you and your stop has been leapfrogged by the time your exchange opens. Combine that with the fact that the metal futures have no price limit, and you could lose everything in your account. In the old days you'd maybe get a call from your broker giving you a chance to wire in funds and letting you carry a loss until the next day - now, they'll just stop you out when you run dry.
Most hard lessons about futures are paid for in pain. Silver in particular can be a stone cold bitch.
where is everyone?
ReplyDeleteJust me on the night shift? We must have some European or insomniac posters on here surely?!
Silver struggling to hold 36.50..we need back up!
Hey NCOT,
ReplyDeleteThis European is here. Not much happening at the moment though.
This ZH article makes for interesting reading:
The Real "Margin" Threat: $600 Trillion In OTC Derivatives, A Multi-Trillion Variation Margin Call, And A Collateral Scramble That Could Send US Treasurys To All Time Records...
http://www.zerohedge.com/article/real-margin-threat-600-trillion-exchange-derivatives-moving-central-clearing-multi-trillion-
Hey, better get out there and paint the charts first thing monday a.m. to try and depress everyone!
ReplyDeletever. word BOBLIN-
silver seems to be BOBLIN around trying to get a footing!
Don't expect to much from the overnight.
ReplyDeleteAnd please don't blame it on monkeys : China and Hong Kong will be closed on Monday for the Dragon Boat holiday
andybuji thank you! Great info and all taken to heart. I will go over the mini contract details again.
ReplyDeleteCompletely off topic, but I thought I'd give you all a laugh. I went to a PM dealer today to sell some gold for silver (I know most people are doing the opposite but I'm overweight au).
ReplyDeleteWent to the broker (more like jeweller) and he gave me $1600/oz!! I thought I was dreaming but kept quiet :D
He told me that of course there was a difference between the buying and selling price for him, that's how he made his money. I tried to look as dejected as I could and nodded at his need to make a living!
Too funny.
Is everyone still hungover from Friday?
ReplyDeleteOldNavy - 10-4 on your 10:10.
ReplyDeleteFor those that have an interest in knowing how this country veered off the path of freedom and financial sanity should read The Creature From Jekyll Island. Ending the Fed before their 100th anniversary would begin to move the needle in the right direction.
But welfare entitlements are so engrained into our economy, our society and our politics, its going to take an enormous set of events and circumstances (and pain) to cut out the cancer. Good muscle will no doubt be lopped off to remove the disease and save the US body.
Like the Thomas Paine quote that someone posted recently, let's get it over with now so the kids and their kids don't have to deal with it. And if you must eat a turd, best not nibble.
(not related to our esteemed blogmeister) :)
I love this photo SGS posted over in his parish!
ReplyDeletehttp://3.bp.blogspot.com/-IFDJMj3p4yg/TexMT1LZUTI/AAAAAAAAAaw/28vmBHF1ecI/s1600/silver%2Bburgers.jpg
Good Morning, all. Gold and Silver looking ok still; WTI looked better overnight, as did Corn -- both now weaker. Bought a tad more WTI at 98.91, but didn't get hit on my stink bids for corn.
ReplyDeleteField trip with 2nd grader this morning, so make sure all my trades work for me, ok?
GLTA
Strange inaction this morning-usually we see a selloff well before this time. Must be a staff meeting going or computers are down.
ReplyDeleteLooks as though Greece is back on the front burner as the Germans don't look to be on board any longer.
ReplyDeleteYo Yo...howz it hangin bubs?
ReplyDeleteHope you fellas had a smashin weekend.
Ok just a quick one. I got back in XAG on a mkt order at Asian open. Let's see how this holds now.
Technically we REALLY need to breach 38.50 for us to seriously consider reaching or the mid 40s again. Til then its range-bound albeit a wider range.
All the best to everyone. And continuing the Word Ver game started on the previous thread...
word ver: phystio - here's hoping we don't get phystio'd up our backsides by the markets this week!
Probally a bad idea, but ill share it anyway....I saw how john embry called out JPmorgan out in his latest kingworld news blog. What if everyone started sending emails to the heads of state at JPmorgan..cc'ing their congressmen, news men, etc telling them to stop the manipulating, how obvious it is what you are doing to the silver market, etc, etc...
ReplyDeleteGet on their backs....what could happen? i don't know it's a dream to put pressure on this frickers...
Economic stimulus runs dry
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Keep an eye on usd/jyp. Below 80 and we could have a problem in commodity prices. It is trading 80.21 at the moment. Not saying happening today or happening at all. Just suggesting you watch. Just like watching 73 USD.
ReplyDeleteMornin' all. Looks to be an exciting day in the land of shiney stuff...
ReplyDeleteBtw, the Ron Paul money bomb yday raised over 1 million! Thank you to everybody here who participated.
Ron Paul - One last chance to get things right, America...
>atlee why would a strong yen/weak dollar be a problem for commodity prices?
ReplyDeleteis it because the cash that should be running to commodities is being directed towards the Yen?
Some of the miners are glowing red. Not a great sign. Silver attempting to break out of a temporary range and failing at this point. Scratch that, it just busted through. Can it hold and close above 37 today? Here's hoping.
ReplyDelete$37... lets get it on bitchez..
ReplyDelete(now that I've said that, watch it drop!)
WV: GUESPIN: I sneezed on my turntable and it resulted in guespin.
@atlee
ReplyDeletecould u pls breakdown why this is the case; i've read it before but didn't get it then b/c i don't usually trade currencies. if usd drops below 73 i would think commodities would take off...same with usd/yen (lower means higher commodities). but i think i may not understand full implication of the yen carry trade
Good morning all.
ReplyDeleteThese charts look great. Don't get scared out. Don't sell into this rally. We are going to go higher. If you are lucky enough to get a dip then buy it.
Wow big push in silver NOW - breaking through the traffic CONES!
ReplyDeleteProblem Joe Ka with the word thingy - it changes if I edit my post after I see the word...
ReplyDeleteSpike! (37!!!)
ReplyDelete@JoeKa - You crack me up man!
@NCOT - Lets =]
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tabfu BM!!!
Like an upwards waterfall for once...
ReplyDelete@kurt:
ReplyDeletea) no one can tell anyway!
b) type in the verification word, then edit the post, then post it...
WV: COMYGOD - (I kid you not) Silver Is the lord of commodities, making it a comygod
someone remind me, its buy the spike sell the dips right?
ReplyDeletew/v "wakey" (I'm getting all the good ones today) Someone just ylled "wakey" to the silver price...
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ReplyDeleteFeels good to not have to chase that elevator up the stairs. Long and confident into the weekend was the play my friends.
SP500 spiking in opposite direction on open - yikes!
ReplyDeletew/v midisa
midisa gonna be an interesting week!~
Hi ho Silver, away?
ReplyDeletewell just in case I set a sell order for Gold at 1450 (but missed it as the spike just ended) and a stop loss for silver at 37 - if it goes up more, great, otherwise I need to limit my loss here and buy back later. Hope to get some SUCIE, baby!
ReplyDeleteAs per my call on Friday..TBT again gives me a pay day.
ReplyDeleteCream Minerals reporting some really good news on drill results!
ReplyDeleteJust hit the stop - so at least I limited my losses and can put that one behind me. NOW it is time for patience...
ReplyDeleteLH, what do you consider a "dip" here?
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ReplyDelete$10-12 gold and 0.75 silver
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Usually, Au & Ag move in unison, even while Ag may be an "exaggerated" wave compared to Au. Case in point today's Sunday night open. Gold and silver charts are exact inverses of each.
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In his Problems of Dostoevsky’s Poetics (1929) and Rabelais and His World (1965), Bakhtin likens the carnivalesque in literature to the type of activity that often takes place in the carnivals of popular culture. In the carnival, as we have seen, social hierarchies of everyday life—their solemnities and pieties and etiquettes, as well as all ready-made truths—are profaned and overturned by normally suppressed voices and energies. Thus, fools become wise, kings become beggars; opposites are mingled (fact and fantasy, heaven and hell).
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ReplyDeleteNot doing much this morning in the metals. Bought a bunch more of JAG at 5.36. After a big rally in the fertilizers went bust, I Picked up some POT and MOS. I think they're good plays right now.
I'm waiting for HMY and TRE to get hammered. Then I'll buy some more.
GOt to say, NGD is looking strong.
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The Feast of Fools had its chief vogue in the French cathedrals, but there are a few English records of it, notably in Lincoln Cathedral and Beverley Minster. Today in the USA, carnival is primarily associated with Mardi Gras, a time of revelry that immediately precedes the Christian celebration of Lent; during the modern Mardi Gras, ordinary life and its rules and regulations are temporarily suspended and reversed, such that the riot of Carnival is juxtaposed with the control of the Lenten season.
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Bakhtin likens the carnivalesque in literature to the type of activity that often takes place in the carnivals of popular culture. In the carnival, as we have seen, social hierarchies of everyday life—their solemnities and pieties and etiquettes, as well as all ready-made truths—are profaned and overturned by normally suppressed voices and energies. Thus, fools become wise, kings become beggars; opposites are mingled (fact and fantasy, heaven and hell).argan yagiaccommodation stradbroke island
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In everyday colloquial usage, the word usually refers to non-human animals. Sometimes, only closer relatives of humans such as mammals and other vertebrates are meant in colloquial use.The biological definition of the word refers to all members of the kingdom Animalia, encompassing creatures as diverse as sponges, jellyfish, insects and humans.debt collectionHome Business Website
ReplyDeleteToday in the USA, carnival is primarily associated with Mardi Gras, a time of revelry that immediately precedes the Christian celebration of Lent; during the modern Mardi Gras, ordinary life and its rules and regulations are temporarily suspended and reversed, such that the riot of Carnival is juxtaposed with the control of the Lenten season.holidays to barbadostrajes de
ReplyDeleteIn his Problems of Dostoevsky’s Poetics (1929) and Rabelais and His World (1965), Bakhtin likens the carnivalesque in literature to the type of activity that often takes place in the carnivals of popular culture. In the carnival, as we have seen, social hierarchies of everyday life—their solemnities and pieties and etiquettes, as well as all ready-made truths—are profaned and overturned by normally suppressed voices and energies. Thus, fools become wise, kings become beggars; opposites are mingled (fact and fantasy, heaven and hell).holidays to barbadostrajes de
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