Crimex News:
Gold:
Deposits to dealer, ZERO
Silver:
-2166 contracts or 10.83 million oz
-Deposits to dealer, ZERO
-Straight from Harvey blog: "When you have tiny notices with a large open interest standing certainly is causing headaches for our bankers as they scour the planet looking for metal to satisfy our longs. No doubt Blythe will be very busy this weekend trying to encourage the option holders and the long holders of May silver to accept cash. I would like to emphasize that a cash settlement is a defacto default. However our regulators are not present so anything goes in this casino."
COT report:
Gold: 8,312 contracts covered. Bullish.
Silver: 8438 contracts covered. Bullish.
Interesting. Thats a large amount of contracts to be covered in Silver especially at these prices. Now if I was JPM and I knew where the price of silver (or anything is going since THEY are the market) WHY WOULD YOU COVER AT ALL TIME HIGHS?
If silver was truly in bubble territory they would have added to the shorts and covered at a much lower price. Something BIG is about to happen. This is a HUGE tell unless the data is a set up for a bull trap. I doubt this is the case, but Blythe needs to do anything to get the fuck out of this situation.
This is huge. Realize that the biggest players in this market dont cover to take massive losses at 5000 year highs if they know its not going higher.
So. We go higher. They have given us a "tell." May not be tomorrow, but this report just told me to keep buying. Up we go.
Thank me lots, my kid is dieing for some more eagles (if I can find them)!
sgs, i thought we bought the dips bro?
ReplyDeleteI did. But we may have to start buying the rallies soon, as I think above $50 will be a free for all
ReplyDeleteword... thanks man. expect a donantion soon.
ReplyDeleteSGS, do you think JPM could ever turn long on silver?
ReplyDeleteSILVER ON FIRE IN INDIA
ReplyDeleteSensing a price hike, investors in India are hoarding up on the white metal. With demand expected to jump by 10% to 15% from the current level of about 3,000 tonne a year.
``Silver prices are set to extend a record rally,'' said Ketan Shroff, managing director of Pushpak Bullions in Mumbai. ``Consumers are rushing in to grab more for the forthcoming Akshaya Tritiya festival,'' he said.
Akshaya Tritiya falls on May 6 this year. It is considered an auspicious day, the golden day of eternal success. Many bullion houses are offering their customers an advance booking on the white metal to neutralise the impact of rising prices.
This is BIG TIME. When silver hit $21 in March 2008, Indian demand fell off a cliff. Now with silver at more than two times that amount, demand is heading toward the moon.
Furthermore, you should take a look at Gene Arensberg's COT Graph here: http://www.gotgoldreport.com/2011/04/significant-comex-commercial-short-covering-for-silver-.html
On March 2008 when silver was $21, the Commercials were net short 76,000 contracts. This week they liquidated a massive 10,158 contracts or 19.3% of total. The Commercials are net short 42,534 contracts down 34,000 contracts while silver is up more than twice the price.
Looks like next week will be interesting as physical buying from India will hit BIG TIME for the MAY 6th holiday....as well as everyone else on the planet.
This comment has been removed by a blog administrator.
ReplyDeleteINDIA 2011 DEMAND = 3,300-3,450 tonnes
ReplyDeleteUS SILVER PRODUCTION 2010 = 1,200 tonnes
WORLD SILVER PRODUCTION 2010 = 22,800 tonnes
India's 2011 demand will be three times US total silver production.
India's 2011 demand will be 15% of World Global silver production.
SHEETS gonna hit the FAN here in 2011. Just not enough silver to go around. Bob Chapman believes there is only 25% of physical metal backing up the SLV and GLD.
1. "SGS, do you think JPM could ever turn long on silver? "
ReplyDeleteNo.
2. Weather Unit: I do not see my blog along the LONG list of 'stuff' on the right hand side of your blog. I requested this months ago. BUT, you are on here 12 times a day with links to your blog. SO here the deal. You can post once a day WITHOUT your blog link. This is a 2-way street buddy.
Where's my blog link then on this two-way street? I'll put it up.
ReplyDeletebc weather unit your blog sucks!
ReplyDeleteWEather UNit: I dont post 12 times a day on yours-THERE IS A DIFFERENCE. I have a list of 100 other blogs I could put up before yours. Dont take that personally.
ReplyDeleteAgain, please one post a day now.
Its not among things people would actually read on a daily basis Weather UNIT, that is why it is not there.
ReplyDeleteMy article written on tuesday about CHINESE SILVER demand:
ReplyDeletehttp://silverbullsilver.blogspot.com/2011/04/clarion-call-for-researchers-input.html
SGS - I know we always talk about silver, but on the dips, do you ever purchase any gold? I have purchased exclusively silver since it was $15.50, but I did buy 1 oz of gold when it was $1161. I am considering buy one or two more oz since it appears gold could finally be breaking away. Just wondered what your thoughts were.
ReplyDeleteJust read the news about Ghadaffi's son and grandson's got killed by missiles.
ReplyDeleteI am venturing into a guess. Ghadaffi is going to blow up Libya's oil field if Nato and Rebel continue to advances.
He will be a dead ender. Scorch earth policy before he goes down.
Oil shoot up and so will PM...... That's all my guess.
Yes, he just lost everything and will probably wig out. That is ice cold, killing his sons and grandson.
ReplyDeleteThese NWO pricks play for keeps.
There goal is to completely destabilize the middle east, hand it over to the Muslim brotherhood, then let them bomb a few of our cities and make the entire middle east look like nutters. We go in, smash the whole area, Israel gets its goal of Greater Israel.
FML...
BB Netan-Nuke-ya is chomping at the bit...
ReplyDeleteNot sure if this idea has been brought up before, I want to post it anyway.
ReplyDeleteChase has a freedom cc into offer. If you apply, you get 100 bucks or 200 after you made some purchases. And also they have 0 apr or something like that.
Why not apply for it, then use it to buy silver bullions ? You get a discount for buying silver. And if 0 apr is true, then you only pay chase the minimum every month. That should help holding up their cash reserve. I know it is a little but it is a moral victory.
How far up your butt with a microscope will they probe before you get the card? They ARE the enemy you know.
ReplyDeleteagThug,
ReplyDeleteThat's exactly the reason why we should do it.
1. Buying physical hurts them.
2. "borrowing" money without paying interest should hold up some of their money flow.
You get to keep the silver with discount. It help boost the silver demand. It use up some of the cash flow they have.
Sounds like a triple winner, except they will get a hard pull of your credit report. But who gives a shit about credit history if all hell break loose eventually.
SGS, BTFD, but what about sell the spikes? Every trades a two way street. Would you be so kind as to express your opinions after you do?
ReplyDeleteI'm not requesting a free trade service just more info like the Turd provides.
Your appreciated, Jasper
Be careful getting into debt. That's how they get control, historically. They get you into debt, take everything you own, take your freedom if they can, enslave you for life. You can try to beat them at their own game, but I wouldn't.
ReplyDeleteMore physical guys? You're a BAD SPORT!
ReplyDelete“The call to take delivery is more of a challenge to the system and it borders on the anarchistic,” said Ralph Preston, a principal at Heritage West Financial Inc., a San Diego company that specializes in futures trading. “It’s like the Republicans trying to overturn President Obama over the birth certificate issue. It’s poor sportsmanship.”
http://www.thecapitalgoldgroup.com/2011/04/university-of-texas-takes-delivery-of-991-7-million-dollars-in-gold-bars/
@SGS check this out:
ReplyDeletehttp://online.barrons.com/article/SB50001424052970203579804576285053281955620.html?mod=rss_barrons_this_week_magazine
I think they're getting desperate.
I can't believe that Barron's is pedalling the "big correction" stuff. Do they realise that the veneer of prestige on their publications is very quickly wearing away?
Once people realise what silver price fixing at the LBMA is, I would be really surprised if they could pull off a large correction without consequences. I mean, they'd need to mobilise their Uruk-Hai.
Here is my view:
ReplyDeletehttp://silverbullsilver.blogspot.com/
But, you guys think this is self promotion, wtf?
I'm pretty much done here. SGS is da-man, though.FOR SURE.
ReplyDeletePEACE.OUT.
looks like my funds will arrive into forex silver just in time for the party
ReplyDeleteBut, whatever happened, I'm not the slightest bit worried about it...as you will find out further down in this column when I discuss Friday's Commitment of Traders Report...and I hope you were out there buying this dip. I was."
ReplyDeletehttp://www.caseyresearch.com/gsd/edition/jpmorgan-et-al-rush-cover-silver-short-positions-silver-price-explosion-imminent
"SGS, BTFD, but what about sell the spikes? Every trades a two way street. Would you be so kind as to express your opinions after you do?
ReplyDeleteI'm not requesting a free trade service just more info like the Turd provides.
Your appreciated, Jasper "
I havent sold a single ounce of physical. So there is nothing to report back about selling spikes. I havent sold a single share of Tinka, Fire River nor Hinterland (yet), nor a single options contract. I can only tell you when to buy now, and when the time comes, I will tell you when to sell.
Hey Jasper,
ReplyDeleteI was a little confused about your question. I guess selling the spikes on stocks or options is realistic and convenient. however, for the most part we are talking about physical here. i think it would be pretty difficult and inconvenient to sell the physical. Also, it would pretty risky as well. I wouldn't want to sell my physical and then hope i could buy it back.
is this what you are referring to (physical) or just in general?
whatever the case, i still hold all my physical, and all my minging stocks. while I'm dissapointed in the results of my stocks, i can see those turning in the near future for a good gain.
On a side note:
ReplyDeleteA proposal to ban circumcisions in San Francisco has moved forward as proponents of the ban delivered more than 12,000 signatures to the Department of Elections this week. If the petition has enough valid signatures from registered voters, the ban will appear on the ballot in the November election. The ban would make circumcision of any male under the age of 18 a misdemeanor and carry with it a fine of up to $1,000 and jail time of up to one year.
People are starting to figure it out arnt they...
Why the dollar bill may be valuable one day.
ReplyDeletehttp://screwtapefiles.blogspot.com/2011/05/why-dollar-bills-may-actually-be.html
maybe some of us enjoyed having our
ReplyDeleteUNIT (pun intended) put in a blender! :P
hahaha... keep making us rich!!! we love you obama!! hahaha
ReplyDeletehttp://www.msnbc.msn.com/id/21134540/vp/42848089#42848089
sorry for posting this semi-randomly; does it even make sence to have gold? I'm thinking about trading my gold in for silver. But somehow I like the backup of gold. I want to buy more maples, but can't really aford them, does it make sence to trade in my gold for silver? Any thoughts would be apriciated. Tank you.
ReplyDeleteI was referring to option contracts as I don't play the futures game. I thought the plan was to do options to generate cash to buy Phyzz and pass the hat for SGS as thx? All the charts shown are futures and not Phyzz so hence the confusion. As far as Phyzz I came to the party at 396 gold and 7 silver with a bump truck. I'm Phyzzed out the ace! (allocated and segregated in the IRA name, not street name nor pooled or commingled outside the banks.
ReplyDeleteApparently The Morgue isnt making enough cornering the copper market to offset their silver losses. Maybe Blythe should look into cornering iron or steel as well? lol
ReplyDeleteSilver Doctors.
ReplyDeleteLooks like they are buying Platinum.
Banned circumcisions? LOL take that zionists and GTFO!
ReplyDeleteI am very nervous that this Com-ex default is going to correspond directly to the debt-ceiling issue. One will play into the other.
ReplyDeleteAs far as timing is concerned...I am of the belief that they really can't QE3,4,5. The states are at a tipping point, our country is, the EU is in shambles. I think we are hitting an acme.
But beware, these people are turds. They could orchestrate an austerity budget, which could send "peace, love, happiness" throughout the western world.
This is a day in which the dollar would strengthen drastically, Gold/Silver would plummet, and several more years would be bought..even with state budgets.
In America this is only possible. However, I do not think that we have enough gas in the tank in order for such a bubble-event to occur.
Therefore, I say the poop hits the fan very soon.
Any thoughts on Silver opening up down over $4 in Asia? Kitco has a low of $42.17
ReplyDeleteOMG, things are getting crazy. 11% drop...something CRAZY is going to happen!
ReplyDeleteJust bought more phyzz here in Tokyo.
ReplyDeleteSilver price in Tokyo Commodity Exchange (TOCOM) is only 117 yen/per gram now.
This is only 1/3 of all time high of 336 yen/gram back in Hunt Brother's time of 1980.
As the Bear video said, pay no attention to fiat nominal price!!!
Phyzz is disappearing fast for sure.