tag:blogger.com,1999:blog-3034901630224544639.post3510210432430523382..comments2024-02-23T05:16:46.265-05:00Comments on Along The Watchtower: The Return of NostradumbassTurd Fergusonhttp://www.blogger.com/profile/03393759110641882003noreply@blogger.comBlogger454125tag:blogger.com,1999:blog-3034901630224544639.post-54089621667834464082011-05-06T17:23:45.359-04:002011-05-06T17:23:45.359-04:00piedmont mining company ...... something in the wo...piedmont mining company ...... something in the works?rambosohttps://www.blogger.com/profile/02446965934458802660noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-19574198391005863202011-05-05T14:05:50.663-04:002011-05-05T14:05:50.663-04:00SOmewhere in the deepest bowels of the executive b...SOmewhere in the deepest bowels of the executive bathroom suite at Silver Wheaton, there is a CFO muttering to himself: "Maybe we shouldn't have fired our CEO for wanting to hedge silver at $50."SSKhttps://www.blogger.com/profile/08201177214232727132noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-5447173251898609382011-05-05T12:01:57.158-04:002011-05-05T12:01:57.158-04:00I am looking at http://www.thebulliondesk.com/ Not...I am looking at http://www.thebulliondesk.com/ Not sure what's the best place for accurate pricesRaulhttps://www.blogger.com/profile/05126520829155689683noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-85369961718652370992011-05-05T10:44:29.918-04:002011-05-05T10:44:29.918-04:00At least if silver drops below $36 I can get anoth...At least if silver drops below $36 I can get another 100 oz low premium maples with free shipping... with what money, I don't know, maybe we can sell some of my wifes shoes... <br /><br /><br />Is there seriously no resistance levels at all below $34-35?Pablohttps://www.blogger.com/profile/12718770456718618465noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-51465272188102763512011-05-05T09:35:42.192-04:002011-05-05T09:35:42.192-04:00This comment has been removed by the author.pailinhttps://www.blogger.com/profile/17601203970253477737noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-2226493740852613352011-05-05T09:34:52.649-04:002011-05-05T09:34:52.649-04:00new morning threadnew morning threadTurd Fergusonhttps://www.blogger.com/profile/03393759110641882003noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-13097873812475890302011-05-05T09:33:33.032-04:002011-05-05T09:33:33.032-04:00This comment has been removed by the author.Michaelhttps://www.blogger.com/profile/13360954514140383568noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-13866084339458400322011-05-05T09:31:38.017-04:002011-05-05T09:31:38.017-04:00Tim Collins is a RealMoney/The Street trader. He&#...Tim Collins is a RealMoney/The Street trader. He's good. He went ultra short silver until yesterday when he bought back in silver miners like EXK, SLW, PAAS. Here is his update:<br /><br />"Silver is stuck in a vicious cycle. As volatility has increased, margin requirements were raised. When margin requirements were raised, some were forced to sell, which increased volatility even more. Thus, with volatility increasing again, margins were raised again, which forced more selling and also started to trigger stops. More selling, more volatility, more margin -- it's a tough road for silver bulls until the cycle ends somewhere, which will probably be when the increased margin requirements end. The negative economic news today may actually be a help to precious metals as two bad claims numbers in a row will set up hesitation to participate in equities before tomorrow's non-farm payroll number. How long before someone mentions quantitative easing 3 now? How about if tomorrow's data is ugly? "SSKhttps://www.blogger.com/profile/08201177214232727132noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-62296120793802837022011-05-05T09:30:29.821-04:002011-05-05T09:30:29.821-04:00Pining: my pleasure. All true.
We're gonna ne...Pining: my pleasure. All true.<br /><br />We're gonna need the heavy armor plate today- - I mean, even the POSX is kicking us in the goanies now... When it rains...ewc58https://www.blogger.com/profile/08838475045073270530noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-72076638589014236442011-05-05T09:28:54.572-04:002011-05-05T09:28:54.572-04:00New Peter Schiff Letter:
(I received it by email,...New Peter Schiff Letter:<br /><br />(I received it by email, so I'm C/P'ing it here.. hope you dont mind)<br /><br />---------------<br />"<br /><i><br />Dear Gold Investor,<br /><br /> <br /><br />Welcome to the April 2011 issue of my monthly Gold Report.<br /><br /> <br />In this issue, Mary Anne and Pamela Aden argue that precious metals will continue to outperform US stocks. Jeff Clark talks about how to think like a "smart money" investor. And I herald a new rush of major institutional investors into not just major gold purchases - but physical gold purchases. (Perhaps they've been reading this newsletter.)<br /> <br />For the month of April, gold rose 8.25% and silver rose a jaw-dropping 29.5%. This confirms my February forecast that silver would continue to outperform gold, even as both metals outperform the US stock market. Of course, the first few days of May have seen a 17% correction in silver from its highs; but even taking this drop into account, silver is still up 128% in the last twelve months.<br /><br />Considering the remarkable performance that silver has had over the past year, this correction was long overdue. It makes sense that $50 would be a point of resistance, as it was the 1980 high. But none of the fundamentals have changed: the US dollar is still sinking, the emerging markets are still growing, and global interest rates are still negative in real terms. Whether the selloff was motivated by the CME raising margin requirements three times in one week or by some deluded notion that Bin Laden's murder would restore US greatness, there's only one way for an investor to view it: as an opportunity.<br /><br />Sellers have taken the froth off the market, and now silver is an even better buy. For those who bought at higher prices, it's a good time to average in by buying lower. For those who were regretting not buying at all before silver hit $50, the market is giving you a second chance. <br /><br />I don't mean to imply that silver can't go lower, but I think the lion's share of the correction is over. In fact, many traders have likely built up short positions on the assumption that this was a bubble about to pop; when the price resumes its climb, all these short-sellers are going to have to buy to cover their debts - perhaps driving a quick surge past the $50 mark.<br /><br />We have an interesting summer ahead of us.<br /><br /> <br /><br />Cordially,<br /><br /> <br /><br />Peter Schiff</i>Raul Vhttps://www.blogger.com/profile/09485944921569631259noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-1636985399613612242011-05-05T09:28:32.022-04:002011-05-05T09:28:32.022-04:00I hope silver physical holders have already done s...I hope silver physical holders have already done so or are considering swapping for gold physical now that the G/S ratio looks to be climbing back above 40/1 from 32/1 or so. Remember that less than 2 years ago it was above 80/1...so the panic in price dropping can be offset if you play the ratio. Something to consider anyway.danielhttps://www.blogger.com/profile/10722302998177573817noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-24124487097828755372011-05-05T09:26:53.643-04:002011-05-05T09:26:53.643-04:00Markus
Oops, I see now you are looking for silver...Markus<br /><br />Oops, I see now you are looking for silver miners. Those I gave you are all golds.Eric Originalhttps://www.blogger.com/profile/09663512536878956249noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-4717166227698868722011-05-05T09:25:49.756-04:002011-05-05T09:25:49.756-04:00@Mike
Thank you for the heads up, hopefully the B...@Mike<br /><br />Thank you for the heads up, hopefully the Bernank can work his magic like last week.JNGhttps://www.blogger.com/profile/05768147805201563264noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-30994969663811725652011-05-05T09:25:16.083-04:002011-05-05T09:25:16.083-04:00@Tyler
You're only out of the game when you...@Tyler<br />You're only out of the game when you're out of money. I sold at some pretty good losses (for me) but had I held to 39, I would have margined out. I saw it coming, as more likely than not, and bailed so I would have trading powder left to buy back in. Sometimes taking the lesser loss is actually a winning trade.<br />Even if we reverse from here nicely, wait for oil and gold (and silver) to build a base before getting back in. Then you can trade back up and recover. That's what I'm waiting for. My little trades are fun because I know I'm stealing lunch from these jerks :)pailinhttps://www.blogger.com/profile/17601203970253477737noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-13556058638035833002011-05-05T09:24:07.940-04:002011-05-05T09:24:07.940-04:00Bernanke speaks at 9:30 today
http://mam.econoday....Bernanke speaks at 9:30 today<br />http://mam.econoday.com/byshoweventfull.asp?fid=449531&cust=mam&year=2011#top<br /><br />Hopefully this will be the bottom and people will start buying into his speech. After that I got nothing. I don't think I can look at my account until we get some good news here..Mikehttps://www.blogger.com/profile/04702069559513729745noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-6243282904581527662011-05-05T09:22:05.613-04:002011-05-05T09:22:05.613-04:00Markus
Kirkland Lake Gold reported an insanely hu...Markus<br /><br />Kirkland Lake Gold reported an insanely huge drill hole just yesterday.<br /><br />Lake Shore Gold and Allied Nevada keep getting good holes pretty much everywhere they look.<br /><br />Happy Hunting!!Eric Originalhttps://www.blogger.com/profile/09663512536878956249noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-91814546006414079562011-05-05T09:21:58.747-04:002011-05-05T09:21:58.747-04:00The whole picture can't be more bullish for pr...The whole picture can't be more bullish for precious metals.<br />Once we get over margin hikes silver and gold should catapult up.sasohttps://www.blogger.com/profile/14349449744140618499noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-45408732960192209472011-05-05T09:21:39.129-04:002011-05-05T09:21:39.129-04:00POSX rally. Is that where the big money is going? ...POSX rally. Is that where the big money is going? How could any serious investor do that?Black Hawkhttps://www.blogger.com/profile/04095784124116932452noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-48906907626052708322011-05-05T09:19:53.096-04:002011-05-05T09:19:53.096-04:00ewc- Quick note to thank you for your comment to ...ewc- Quick note to thank you for your comment to me yesterday, I DO have your back my friend. We can stack bullion rounds in that foxhole!Pining for the Fjordshttps://www.blogger.com/profile/15374868364587507208noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-54916916947846150132011-05-05T09:17:56.969-04:002011-05-05T09:17:56.969-04:00Thanks, Pailin.
I think I have to dump it. If ...Thanks, Pailin. <br /><br />I think I have to dump it. If for no other reason than to stop agonizing over the decision. I'm just sitting at work all day watching it tank!Tylerhttps://www.blogger.com/profile/05042978598981157375noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-2625349191616223352011-05-05T09:15:35.322-04:002011-05-05T09:15:35.322-04:00Gold: such a no-brainer ever commies and ex-commie...Gold: such a no-brainer ever commies and ex-commies want it. More than 95% of Americans do, now how's that to illustrate the effectiveness of the dumbing down of this once-great land...<br />----------------------------------------<br /><br />"...Rob McEwen, founder and former head of Goldcorp, now the world's fifth largest Gold Mining company, believes central bank purchases could help push the price of gold to $2000 an ounce by the end of the year.<br /><br />"China is out to have more gold than America, and Russia is aspiring to the same,"said McEwen, who is now chairman and CEO of junior miner US Gold. "When you have debt, you don't have a lot of flexibility. China wants to show its currency has more backing than the US."<br /><br />According to figures from the World Gold Council (WGC), China's gold reserves were worth $48.2 billion in March 2011. This compares to $372.2 billion for the US. Russia's gold reserves were estimated to be worth $36.1 billion."<br />------------------------------------------ewc58https://www.blogger.com/profile/08838475045073270530noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-60013986604771100602011-05-05T09:13:57.184-04:002011-05-05T09:13:57.184-04:00Quick everybody, get out of those worthless shiny ...Quick everybody, get out of those worthless shiny metals, you can't eat gold or silver! Put your wealth in something safe and secure - Federal Reserve Notes! They are Federal* and backed by the Full Faith* and Credit* of the United States of America! You don't want to lose everything in the upcoming crash, do you?Pablohttps://www.blogger.com/profile/12718770456718618465noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-70392818876468086952011-05-05T09:12:55.349-04:002011-05-05T09:12:55.349-04:00EUR/USD at 1.47. Oil at 105.
What's going on?...EUR/USD at 1.47. Oil at 105.<br /><br />What's going on?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-86911990597625878752011-05-05T09:12:44.241-04:002011-05-05T09:12:44.241-04:00OK troops- battle plan time.
Euro plunges, USDX...OK troops- battle plan time. <br /><br />Euro plunges, USDX catches a bid on no euro rate-change, and Trichets (heavily French-accented) dovish comments seemingly excluding a rate hike in June, which the market had apparently already priced in. This means rising dollar and more pain for us PM bulls. In the short term.<br /><br />BUT- jobless numbers means QE3 is certain (as if we didn't know) and 'the printing will continue until morale improves'... or we have hyperinflation, either one. <br /><br />Sounds like short-term pain, followed by the potential to make a boatload of fiat AND a truly amazing chance to buy physical at fire-sale prices. <br /><br />Agree? Disagree?Pining for the Fjordshttps://www.blogger.com/profile/15374868364587507208noreply@blogger.comtag:blogger.com,1999:blog-3034901630224544639.post-50272278528238590882011-05-05T09:09:44.698-04:002011-05-05T09:09:44.698-04:00@Tyler
I'm not ruling out 30-33. The RSI 8hr, ...@Tyler<br />I'm not ruling out 30-33. The RSI 8hr, daily, weekly, monthly all looking good now. But we could move sideways for a while too (like all summer till QE3?) which would level RSI out, then explode from a lower point or somewhere around here. If you look at the weekly chart, these sharp stiff drops in a single week only occurred in April 2004 and May 2006 (guess we shoulda seen this coming!) where RSI peaked up around 80. But they did bottom fast too. At some point, it does get oversold, but that's no guarantee of meeting or making old/new highs either. If we get back down to 32, a move to 35 would a huge 10% gain for any new buyers in there. Shorter term trading may be the game down there for a while. I dumped the last of my play positions early Tuesday morning, so I'm in a different place than you.pailinhttps://www.blogger.com/profile/17601203970253477737noreply@blogger.com