Looking more like a bottom rounding out here. I am buying more phyzz here...I will not take the chance for this to blow up through $37 again, then you are in no man's land buying at those levels....I like the $33 support, I like that the MACD will round out soon, and RSI is now at based out levels. Its seems to me the worst is over, unless, of course, JPM raised margin 14 more times in 2 trading days out of the blue, which is not out of the realm of possibilities.
Also take note the the $US chart is now rounding out and heading higher bouncing off 75 so be cautious on any big trades, take it small here.
I will not be available till the afternoon, at that time I will mull over the data, and place some bets. Good luck.
@sgs
ReplyDeleteman when is silver gonna cross 47 again.caught up in the margin game.have balls to carry it forward for a cpl of months.don't tell me it will go to as low as $3!!!!!11yikes.i'll go bankrupt
Jesus...indosil, do not play on margin unless its with calls/puts as they are already leveraged. $47 could be next week, or in October. No idea when Ben is going to print more dollars
ReplyDeleteJuly futures currently at 34.89. AT A BARE MINIMUM, IT HAS TO GO and close the gap at 33.491. No use buying anything until then.
ReplyDeleteso much for that RIMM trade, missed it yesterday while on the raod FUCK! Anyone get it? I said I was looking into it...hopefully someone caught it
ReplyDeleteloved your interview yesterday made me laugh their faces turned to stone when you kept calling it.......best ever
ReplyDeletewhat interview? I was on tv? LOL
ReplyDeletemissed the RIMM trade as well unfortunately, but someone just paid my asking price on the SIL calls from yesterday. maybe I will buy some more phyzz.
ReplyDeleteSGS, I'm gearing for another Tinka rally, once I shave some of those shares I'll send a donation your way canuck.
also SGS - you been buying any physical gold lately, or just silver?
If you read the blog you would know SGS has been buying. Anyone with half a fucking brain has been buying. The bottom is in. Now all we need is for Ben to open his cake hole and...
ReplyDeleteRon Paul is talking about selling off the gold at Fort Knox to pay down the debt. Why not swap that $400 Billion of salted bullion for $400B of Chinese owned US Treasuries? That would knock off 15% of America's obligation to China. http://www.nysun.com/national/selling-gold-at-fort-knox-emerges-as-next-big/87350/
ReplyDeleteRon Paul has officially become a government straight man à la Ed McMahon, chuckling along with the shitty jokes. Or is it his Gordon Brown moment? With those comments Ron Paul is now completely irrelevant.
ReplyDeleteP.S. Sorry We The Sheeple, didn't read your post closely in a hurry. I'd be interested to know if SGS is a gold buyer also.
Ron knows we don't have shit for gold in the vault. This talk of gold selling is to bring light to the black-hole known as Fort Knox by way of inventory or assay
ReplyDeleteVancouver Bullion and Currency Exchange is now, as of today, limiting purchases of silver Maple Leafs to 100 pieces per person.
ReplyDelete@sgs
ReplyDeletesorry abt the late comment.u see sgs i m from India.We trade while u sleep.While i went off to sleep the May 1st massacre happened.Silver was already down $6!!!!!!hoping against hope & w/o the knowledge of games Blythe plays & no Stoploss triggered;man i was Royally screwed.Anyways now that i read u,Jim & Turd i guess things r? lookin bright.So u suggest i hold & average
Ron Paul is just playing THEIR game of politics to win support for his agenda. You can't win if you don't lie every chance you get. He said we should sell the gold cause its just sitting there and its at its peak, just like when he said now that we got Bin Laden, we should bring our troops home. He damn well knew that Bin Laden was already a popsicle, just like he'll say sell the gold so he can win support for an audit. Pretty smart guy.
ReplyDeletejust purchased YONG puts, for shits and gigs rumours its goign to zero
ReplyDeleteBe careful with puts on shitty chinese companies. They have a habit of going to zero quickly and if that happens your puts are worthless.
ReplyDelete@sgs
ReplyDeletewelcome back.Crude's on fire.So is silver.What's blythe upto next.If we sustain 35.50..a mini rall SGS?
it sounds silly but can anyone tell me exactly which month ushers in "The FALL season"in us?
ReplyDeleteFlaunt: Sell order already out for quick hit, if not, very small spec on it, nothing to bet the house on
ReplyDeleteSilver is rallying, but if Gold doesnt get through $1500 with conviction and $US turns up, not sure this party will last.
I think the fall buying season for miners will begin in July this year. Likewise the sell in May adage probably meant only for the first 3 weeks. Seems somethings brewing with the antipation of the FOMC minutes today. Could this be the glorious unvieling of QE 3.0?
ReplyDelete@Strann: ya, man I got the same feeling about the brewing. Hopefully it is the FOMC, then we'll have some sense of where things are headed.
ReplyDeleteflaunt: call me an options noob but if a stock goes to 0 why would a put become worthless? I thought that would make the put worth a fortune?
ReplyDeleteYou need someone to sell it to at the end, or buy the underlying from you... granted the exchange might take that role?
ReplyDeleteYes it was my understanding that if the seller of the put doesn't come through, the exchange is liable for the put.
ReplyDeleteShalom everybody. My nice Jewish friend Peter says, "You are going to see riots in the streets."
ReplyDeleteL'chaim!
http://www.youtube.com/watch?v=J1lBGIzeF9Q
DM you're not thinking clearly. Ron Paul always has a motive behind everything. He knows they'll never sell gold. His purpose is:
ReplyDelete1)To show that governments may talk down gold, but they'll never part with any.
2)Remind politicians that in a gold standard, you have to pay for your debts by selling...gold! What else, paper? Then it's not a gold standard. When you have to part with gold, government spending gets very real.
3)Lastly, most importantly, he's proposing this as a pretense to audit Fort Knox(which probably doesn't have nearly the gold they say, or the gold is probably owed to someone else). Geez dude, you and Max Keiser should ask him for clarification before yelling for the firing squad. Get a grip.
Thanks for the reply, nice to know my posts are actually showing on the board, was having my doubts...
ReplyDeleteI see your valid points, believe me. He'll be proven to be right eventually but in the meantime he'll never be president if he lives to be a million, he's essentially eluding to the U.S. going completely tits up under any future gold standard (which is pretty funny) and if anyone thinks there is much gold of any description in "Fort Knox" or at the New York Fed, or anywhere on U.S. soil that actually belongs to them they're not thinking clearly either. The 8000+ tons they claim to have in reserve has yet to be dug out of solid rock in the ground. Don't know how I feel about being associated with Max Keiser however...
Hope everyone is enjoying the bottoming of silver and probably gold.