Apparently Peter Schiff does not subscribe to the idea of PM manipulation, per his radio show today. I guess he wants to stick to the fundamentals and stay away from the conspiracies (at least publicly). I don't blame him. He's still the MAN.
You can listen to it here. It's on a loop until the next program.
Every day Harvey Organ gives a free report on the dealings of the Comex as well as some good articles relating to commodities and the economy. Some of you may be aware of him, but those who are not, here is his link. A must read every nigth for me.
SGS - Do you think now that we closed above silver's 50 day moving average and above $29, we are past any more major declines? You had mentioned that you were a buyer at 25.50-26.50 OR 29. I was thinking about making a major purchase this weekend with some friends. Thanks
The total silver comex open interest rose by a huge 4,350 contracts, rising on Friday to a high of 130,601 from Thursday's reading of 126,251. The February options expiry month saw its open interest mysteriously rise from 60 to 86. There were no deliveries on Thursday so the gain in OI is due to more options that were exercised for silver metal. The front delivery month of March saw its OI rise from 64,163 to 66,607 and that has the bankers very nervous. They need to see the front delivery month decline in number.
The estimated volume on Friday was pretty good at 56,682. The confirmed volume on Thursday with the huge gain in silver (and also a big outside day reversal) registered 79,909 contracts which is extremely high for no switches.
Every day we see massive movements of silver in and out of vaults. Today it was many ounces withdrawn. There were no adjustments on Friday.
The comex folk notified us that only 3 notices were sent down for servicing for a total of 15,000 oz. The total number of notices sent down so far this month total 191 or 955,000 oz of silver.
955,000 oz (already served) + 415,000 (to be served) = 1,370,000 oz. (Thursday total 1,240,000). This amount is rising as the month progresses. If we get back- to- back deliveries of 4 million oz in silver, I cannot wait for the delivery month of March to arrive.
Dude, you missed the best video of the weekend. Made by the original NIA guy who made all their best videos.
ReplyDeletehttp://www.youtube.com/watch?v=CvSEWLEqmY4
Its call Gold This Decade.
Enjoy
just posted up, thanks! I was sent the wrong one! Oh well, I'll keep it up anyway.
ReplyDeleteListen to Peter Schiff at 5:56. QE is effecting the price of weed now! This is the final straw, END THE FED!
ReplyDeleteHey silvergoldsilver, Are you familiar with wynter_benton over at the JPM Yahoo message board?
ReplyDeleteDo you put any stock in what she is saying?
http://search.messages.yahoo.com/search?.mbintl=finance&q=wynter_benton&action=Search&r=Huiz75WdCYfD_KCA2Dc-&within=author&within=tm
Apparently Peter Schiff does not subscribe to the idea of PM manipulation, per his radio show today. I guess he wants to stick to the fundamentals and stay away from the conspiracies (at least publicly). I don't blame him. He's still the MAN.
ReplyDeleteYou can listen to it here. It's on a loop until the next program.
http://schiffradio.com/
Thought some people might find this interesting from Lakshmi Capital's blog.
ReplyDeletehttp://lakshmi-capital.com/2011/02/silver-gaining-momentum/
Every day Harvey Organ gives a free report on the dealings of the Comex as well as some good articles relating to commodities and the economy. Some of you may be aware of him, but those who are not, here is his link. A must read every nigth for me.
ReplyDeletehttp://harveyorgan.blogspot.com/
SGS - Do you think now that we closed above silver's 50 day moving average and above $29, we are past any more major declines? You had mentioned that you were a buyer at 25.50-26.50 OR 29. I was thinking about making a major purchase this weekend with some friends.
ReplyDeleteThanks
Be careful...
ReplyDeleteThreat of Counterfeit Morgan Silver Dollars from China
http://www.coinweek.com/Video/samples/csns10-005t-flv/
The total silver comex open interest rose by a huge 4,350 contracts, rising on Friday to a high of 130,601 from Thursday's reading of 126,251. The February options expiry month saw its open interest mysteriously rise from 60 to 86. There were no deliveries on Thursday so the gain in OI is due to more options that were exercised for silver metal. The front delivery month of March saw its OI rise from 64,163 to 66,607 and that has the bankers very nervous. They need to see the front delivery month decline in number.
ReplyDeleteThe estimated volume on Friday was pretty good at 56,682. The confirmed volume on Thursday with the huge gain in silver (and also a big outside day reversal) registered 79,909 contracts which is extremely high for no switches.
Every day we see massive movements of silver in and out of vaults. Today it was many ounces withdrawn. There were no adjustments on Friday.
The comex folk notified us that only 3 notices were sent down for servicing for a total of 15,000 oz. The total number of notices sent down so far this month total 191 or 955,000 oz of silver.
955,000 oz (already served) + 415,000 (to be served) = 1,370,000 oz. (Thursday total 1,240,000). This amount is rising as the month progresses. If we get back- to- back deliveries of 4 million oz in silver, I cannot wait for the delivery month of March to arrive.
I will summarize Harvey's posts, please dont cut and paste from his blog, thanks, he is a friend of mine.
ReplyDeleteZero Contango in Comex futures...
ReplyDeletehttp://www.gotgoldreport.com/2011/02/near-zero-contango-in-comex-silver-futures.html