Gold:
-237,806 volume, and we get slammed. Remember any volume over 200K is 9 times of of ten due to shorting, and Gold will go down these days
-ZERO deposits, ZERO withdrawals, ZERO adjustments going into the first day of notice. LADIES AND GENTLEMEN, THE GOLD COMEX IS NOW JUST AS FUCKED AS THE SILVER COMEX.
Silver:
-silver OI rose 607 contracts to 137,642 from 137,035 (it rose in a raid, HINT)
-Volume was 100,165 contracts in a raid that did little to quell the rise in silver. Blythe must be murmuring under her voice, "WHAT THE FUCK!"
Both SLV and GLD had no changes, how convenient a day before first day notice.
And now for the biggest news of the day....drumrollllll.....goes to : JPMorgan. They shorted more silver. Not just shorted more, but to the tune of 2077 contracts. Yes, this is correct. They are NOT covering, they are adding more short. How this ponzi will unfold will be EPIC.
Commentary:
I would like to discuss something I observed in the last minutes of trading in our favorite stock, Tinka (TK.V / TKRFF). Someone bought a lot of shares and cleared everything for sale at .62, .63,.64,.65. This happened in the last minute!! Someone was hungry for a lot of shares for some reason. Just remember I told my readers to buy this at .32 cents. You owe me big!
I expect a pullback soon as its getting overextended. Depending on POS, I may buy even more at .52-.56,but the train may have already left that station. I will sell half my position at $1.50 to put into physical and a yacht and let the rest ride the wealth effect.
I have alluded that Monday is CTFC day...and from what my peeps tell me, we should see some sort of position limit implementation. Now, can JPM be granfathered...maybe? But at least it will limit them moving forward. Lets see what happens. I will be back sunday for more posts. Options trading is crazy right now. More to come.
QUICK NEWS: You know who this is brought to you by ;)
China sees higher commodities, lower dollar in 2011 (shocking), 300K protesters in London stand off, Greece ready to kick the bucket, illegal now to protest in Egypt (so much for democracy implementation, CHANGE? YES WE CAN!), Japan is melting, Fed Fisher thinks they can stop QE2 early and the market wont go to ZERO.
Thank you for all your kind donations over the last few weeks. My 7 month old is now in position of his first 100 oz engelhard bar! Keep it coming!
Heay SGS, looks like your SLV loving body is posting over on the Watchtower, under a new name!
ReplyDeleteThanks for all your work. Good weekend.
I hope the lack of a government won't damage Canada. Great country
thanks SGS. Much appreciated. Hopefully next week when silver goes parabolic to 50.00 and I sell my May 38's.. I will be able to thank you in the proper way.
ReplyDeleteMany thanks for turning us onto TKRFF, I'm going to double down on the next pullback.
ReplyDelete37 and 38 were initially pierced with ease. Anyone pissing their pants over the sucker punches thrown Thursday and Friday should relax.
Im up about 50% on tk... expect a nice donation when I sell.
ReplyDeleteJP Morgan has just gone through the and I like this term "Self Certification Process" to become a licensed vault facility in 2 days rather than the 45 days it usually takes, this will give them exemptions for the proposed CFTC position limits for precious metals.
ReplyDeleteRegards
P Omanski
@e73: Conservatives simply went "all in" on the budget knowing they would likely fall on it because, given recent polls, now is the best shot at majority they've had in many years. Pure strategy.
ReplyDeleteCheers,
Chuck
"SLV loving body" you referring to Kid dynamite?
ReplyDeleteNOt sure if it is him or not, but it sounds like him.
ReplyDeleteI meant SLV loving buddy..
Tinka is a great buy thanks for the tip at 30 cents TK may have 100 milion oz silver after the next drilling this summer $ 2.00 sp easy
ReplyDeleteYou are welcome...but it was only 2000 shares as I was in a rush and didn't have time to set a limit order and wait, as I needed to route my order to a Canadian exchange. I had previously taken profit at .60 cents the day before and wanted to get a couple shares back before the weekend in case the shit hit the fan! Typically an order of this type doesn't jump the price by that much if at all, but appears it was different this time.
ReplyDelete