Saturday, May 21, 2011

Less than 2 hrs till J-Day....

COT Report:

Gold:
-commercials add 10,695 contracts long
-commercials cover 3,937 contracts

This is very very bullish for Gold.

Silver:
-commercial cover 4503 contracts (so JPM is not adding to there gigantic short anymore) maybe if they raise margin 5 more times, they will be able to completely get out of it.
-commercials add added 2816 contracts long

Bullish here too.

And now in CFTC news: "Wetjen, whose nomination is subject to Senate confirmation, would replace Michael V. Dunn, a Democrat whose term expires June 19. The CFTC, which is writing derivatives regulations under the Dodd-Frank Act, currently has three Democrats including Chairman Gary Gensler and two Republican members.

Diversion or not, this isnt bad for us...I lean more towards good for implementation of position limits with this guy...but he will be paid off sooner than later from the Morgue anyway.

Its 25 and sunny here, I'm outy...more to come later.
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12 comments:

  1. walp86May 21, 2011 at 5:49 PM

    MSM:
    http://news.blogs.cnn.com/2011/05/21/reports-volcano-erupts-in-iceland/?hpt=T2


    Live from Mt. Doom:
    http://live.mila.is/jokulsarlon/

    Guess the Air Traffic will be grounded again next week.. dont know if that effects the markets though.

    ReplyDelete
  2. YousifMay 21, 2011 at 7:32 PM

    @SGS good stuff on the inventories. It's irritating that the monetary cartel has so much leverage that they can just get out of something so unethical, so wrong, so [insert derogatory term here] without as much as a scratch.

    Regarding CFTC, I'm indifferent. Like you said, it's not a question of if the new talking head is corruptible, it's a matter of "how much" and "when".

    I hope everyone hiding in their purpose-built nuclear shelter realize they could have bought a lot of silver with all that fiat.

    ReplyDelete
  3. fredcoMay 21, 2011 at 8:04 PM

    Gotta love it all.! Anyone have any ideas on the suggestions floating around Mexico about making silver real money again.? How can/would this effect phyzz? Thanks...

    ReplyDelete
  4. malcolmMay 21, 2011 at 8:20 PM

    No faith in CFTC! Even if it was all Dems, the pressure from TPTB will keep them from implementing position limits!

    Well, looks like we are either sinners that got left behind or it was total BS!

    With Mexico going to a sliver standard and Zimbabwe going to a gold standard and Forbes saying that the US will return to a gold standard with 5 years, look like its on.

    PM's to the moon, after all they are real money and paper is just currency. Au 5-12k Ag 500+

    So, if your keeping score for the day.

    PM's +3
    Jesus Freaks -9
    CFTC - 0

    ReplyDelete
  5. walp86May 21, 2011 at 8:52 PM

    Yousif, did you know that silver has excellent cross section properties for neutron\gamma capture?

    My future nuclear shelter will be made out of 99.999% pure phyzz! (If only.. :)

    However, I will recieve an epic $45\ounce-package on monday! Only +30% spread, horraaaay!

    ReplyDelete
  6. YousifMay 21, 2011 at 9:00 PM

    Today, the mainstream media has lost credibility completely,

    So, it turns out, all this time, Iran had a hand in the tragic events of September the 11th. I've checked comments on all the places their junk has been displayed and no one, I mean NO ONE is buying it.

    @SGS what do you think about shorting NWS?

    @walp86 It's not called the devil's metal for no reason.

    ReplyDelete
  7. mossmoonMay 21, 2011 at 9:26 PM

    I'm thankful of the bastard's suppression keeping the price down.

    The people's money is slowly going back to the people.

    We are throwing their fiat in their faces. We are living through a beautiful moment in history...

    ReplyDelete
  8. malcolmMay 21, 2011 at 9:30 PM

    Yousif,

    havent watched MSM in a long time, what being said?

    ReplyDelete
  9. YousifMay 21, 2011 at 9:54 PM

    @malcolm,
    To provide a context for the MSM gaffe, take a look at this:

    http://www.zerohedge.com/article/us-iran-escalation-iran-arrests-30-us-spies-it-builds-venezuelan-missile-base-america-sends-

    Here's the (by now) predictable response:

    http://www.youtube.com/watch?v=3dyy_osNeBw

    There is no way a Salafi Muslim (OBL) would cooperate with Persian Shiya. Not a chance. Period.

    Let me put it this way, it would be like asking the Hells Angels to cooperate with Bandidos.

    ReplyDelete
  10. malcolmMay 21, 2011 at 9:57 PM

    WWIII

    ReplyDelete
  11. mossmoonMay 21, 2011 at 10:36 PM

    I feel like I'm in Disneyland.

    ReplyDelete
  12. banmanMay 22, 2011 at 2:36 PM

    Check out this blog for a graph showing the predictive power of the copper:gold ratio to predict downturns in the markets:
    http://gonzalolira.blogspot.com/2011/05/spg-supplement-coppergold-ratio-and.html

    Looks like we're headed for a correction. Any comments welcome.

    ReplyDelete

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