Sold my silver calls yesterday, sold my LULU puts today for a lovely even steven. This is why I hedge (and to pay brokerage commissions dont count them out!)
Silver crooks are back, I will be buying at $35-36 again if its gets there, and heavy. Enjoy the rest of the noise, its getting loud and leave LULU alone, its in a world of its own...this is called discipline trading, sticking to your stops, and listening to the market.
After hours gold/silver got smashed so bad...Harvey should be writing another famous letter today cant wait to hear it.
Gotta love the volatility!
ReplyDeleteRinse wash repeat!
40 calls, Oct?
Looks like the pump and dump of Mega Precious Metals are heading for the dumpster!
ReplyDeletePeter Schiff will be happy!
It's the same old story. All the Silver gurus come out of the wood-work and start shouting about Silver in triple digits and guess what happens.....
ReplyDeleteDown goes the price of Silver.
I personally think Turk and the rest of them work for the Fed and JP Morque just to get the suckers in.
Then they scalp them.
Maybe I'm suffering from paranoia but if it looks like and Elephant then it probably is an Elephant.
georgesilver,
ReplyDeleteIt simple, silver above 36 for over 60 days triggers derivative loss in the billions for JPM!
And gold shows the world that fiat currencies are in trouble.
@ malcolm
ReplyDeleteIf it's so simple why haven't they long since given up and been sitting on a tropical island drinking rum?
ALL the clever "I know it all" gurus are constantly wrong in their predictions.
I should imagine that when the comex has $10 worth of Silver they will suddenly discover Billions of ounces in the cupboard under the stairs.
People are far too smug in their predictions that Silver is running out.
georgesilver: Take your profit next time up but you'll have to wait. The US DOLLAR is not going away while the earth remaineth.
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ReplyDeleteJust created a chart on Google Trends that show who is most interested in the gold and silver price. I bet this could be an interesting proxy for who's buying and how much. Might make a great article! Keep up the good work.
ReplyDeletehttp://trends.google.com/trends?q=silver+price%2C+gold+price&ctab=0&geo=all&date=all&sort=1
Led, saw it!
ReplyDeleteWhats the play? Futures options put on OJ?
@malcolm: I usually wait until a true 1-2-3 tops happens, but it might be a spike blowoff top or an island reversal. I just pulled up some quotes for Jan. & March puts (futures). It is very thinly traded. I'm going to look into it more and will mostly likely put a "good until canceled" order on a few strike prices. BUT, even if the top isn't caught (rarely is), you know what I'll be calculating! Also, there will always be some counter trend "rallies" along the way to get it. Look what happened to cotton. It could happen something like that. I also think sugar will eventually do this too. The all-time high was 44. We're nowhere near that now, but 36.08 that it hit in Feb. of this year, look what happened. Watch: OJ and sugar!
ReplyDeletegeorge,
ReplyDeleteBack in the 90's, sold, swapped so much silver at such a low price, they are just stuck.
When you are part of a suppression scheme, that has been running since the 80'and you dont want to give it up.
They do this with the entire market, not just silver. President Working Group on Finical Markets, aka PPT, plunge protection team!
The entire market is rigged!
When I first started "investing" the model was buy and hold. Yeah right that shit worked back in the 60's.
I have now modeled my trades after Mohammad Ali, stick and move, quick profits, + 20% and I'm out looking for the next move.
george,
ReplyDeletehave a look for yourself.
http://babybulltwits.wordpress.com/2011/07/19/ranting-andy-videotape-of-government-algorithms-suppressing-slv/
OKAY FOLKS....LET'S TAKE A REALITY CHECK
ReplyDeleteI see we have a bit of frustration here today on the blog. This is something that always happens when things don't go exactly as we preceive they should.
georgesilver I wouldn't come down so hard on Turk. His calls have been more right than most. It might take a little bit longer, but the fundamentals are on our side.
As for Turk being part of the "GRAND CONSPRIACY", I hardly doubt it. I will say this, I believe there are several moles and paid schills that call themselves GOLD or SILVER Bugs.
Here is my list of BEARS in a BULLS SKIN:
1) Dennis Gartman
2) Jon Nadler
3) Jeff Christian
4) Ned Schmidt
There are probably more...but those gentlemen I have listed above all have the same thing in common...and that is, there Bias has always been bearish or negative about silver and gold.
Ben Davis of Hinde Capital along with James Turk both called the silver breakout in late summer early fall of 2010 on KWN. Ben Davis even got the TOP CALL in silver a week before the takedown. Davis used % of Silver Deviation to get his call. Even though it makes sense in math an on paper, I didn't agree as silver is still undervalued by more than $50-100 an ounce at the least.
Ben Davis just made a call that gold will hit $2,000 by the end of the year. You can take that one to the Bank. If you folks keep getting stuck on short term moves, you are going to have a great deal of intigestion.
That being said, there is still excellent silver news out there if you know how to look for it:
US JULY 2011 EAGLE SALES
GOLD EAGLES = 22,500 X $1550 = 34.8 million
SILVER EAGLES = 1,969,500 X $35 = 70.9 million
Looks like the Europeans, Asians and many Americans are buying more silver than gold in US MINT figures. It is almost double silver to gold buying in a dollar amount. This is due to the fact that the Krugerrand is $30 cheaper in premium over the Gold Eagle. They are the exact same coin in size, gold content and etc.
Lastly, there are a lot more things to be frustrated and worried over than the price of silver.
The US GOVT is flying a special helicopter around the northwest between July 11 and July 28 to get radiation readings. Homeland Security had a release stating that they will not make these readings available to the public...due to "National Security".
Northwestern Canadians are getting fried as we speak in radiation at levels 40-60 times higher than normal background levels. The EPA removed the all the radiation detection equipment out of the office in Boise Idaho...as Boise had some of the highest readings in the country.
The poor slobs in Japan who bought geiger counters to do their own measurements found out that a good percentage of them were not working correctly. Looks like the wonderful folks in the Japanese Govt fried the equipment before it made it to many of their citizens homes.
Two prominent Japanese Nuclear Scientists say the worst is yet to come from Fukushima. Here in the states we almost had a meltdown at Fort Calhoun. If one of the damns broke on the Missouri, it would have been lights out for the midwest.
To keep this from happening the wonderful Folks at the Army Corps of Engineers had to allow millions of acres of farms go underwater. Hence....the USDA did not factor this into the bullish farm forecast.
There are plenty of more examples of other things to get frustrated about than the price of silver....but I am not going to bore you with those as I see there is plenty of frustration here already.
Time to remind ourselves that we have BALLS between our legs and we are BIG BOYS.
WU,
ReplyDeleteI not fucking frustrated at all! To me itz like speeding in my Audi! I know I'm going to fast but getting ticket is part of driving a fast car. I comes with the turf :)
Officer you understand? Yes! And away I go!
WU you are like the fat girl at a party that no one wants To f**k but just won't go away.
ReplyDeleteHex: If you saw me you would change your description. That I would bet on.
ReplyDeleteI don't give a rats ass about silver price, and I'm a big silver bug/stacker/hoarder. Price in fiat means shit right? I guess if you're a paper pusher, then you have a right to snivel, but I can offer you no sympathy for you know you're playing a crooked game.
ReplyDeleteTHE WEATHER UNIT
ReplyDeleteI can't figure out your motivation. You can't be a paid schill...as your work is too pathetic for anyone to offer you compensation.
Furthermore, your posts are too disjointed and subpar to come from anyone with any degree of wisdom or knowledge.
My take on you regarding information above is this:
You must be something like a FRY CHEF at BURGER QUEEN and this is your way of getting frustrations out that you can't do to that 4'11 female manager of yours.
LOL!!!!!!!
ReplyDeleteNow that shit is funny!
Driving back from the doctors today. So many cash for Gold shops popping up. I saw my first "We buy Gold and Silver" store today. They were paying kids to jump up and down the main strip waving "We buy Gold" etc.... I must have seen about 5-6 separate shops in about 3 miles!
ReplyDeleteThen I turn on am and every 10th ad is "We buy Gold/Silver". It becoming more and more apparent whats happening. That talk show money guy said "You should get out of debt now, so as Gold is at stupid silly prices, turn it into cash for your retirement".
Hey, I could pay off a mortgage, or hold the equivalent in Gold and Silver. Wonder what I am choosing!
I have seen the same thing Garry. Exact same thing. Some guy on the corner waving the 'we be gold sign' with an arrow pointing towards the store. I'm really starting to wonder who really OWNS these stores or what the common denominator is...my little voice tells me they know something.
ReplyDeleteIt all fiat noise that is going to end badly simply because the demand is far outstripping supply and The Pan Chinese exchange is coming on-line soon. Laugh at the bitchez giving you the opportunity to buy phyzz cheap. When the Chinese bring true price discovery in a few months cheap silver will be history. Take these last few opportunities to get phyzz cheap! And in the mean time laugh and chill out this is the end game and holders of phyzz will the the winners!
ReplyDeleteWU,
ReplyDeletesuggestion, why are you not filthy rich by buying puts, stops, options, copper, natural gas, all that jazz ... yet, instead, you troll grass root Net threads ... kinda comical for a big shot with keenest insight since Edgar Cayce
@Malcolm: Most likely gonna do futures contracts (and not options) on OJ. Just not sure if I am going to get in Jan. or Mar.
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ReplyDeleteSince I made my forecast all the charts are going up now. I guess I really am a retard. Just remember you can be 100% successful if you do just exactly the opposite of what I tell you. And it's even guaranteed! Now who's better than me?
ReplyDeleteThis comment has been removed by the author.
ReplyDelete@a673a222-b24b-11e0-ac1d-000bcdcb5194: What do you have against fat girls! Man don't do that! I like fat girls!
ReplyDeleteIt's not like we didn't expect this drop. It's just a matter of time before they cant conrtol it.I bought @17.50 and 21.00 ,25.00,28.00,all the way up to 42.00 and agin @ 33.00 and Im looking for another dip this week to get some more. What ever the paper price is.It's a smart move if you have extra cash to spend.It's sorta like the dentist allways said. only floss the teeth you want to keep. well only convert the cash in to PM's that you want to have on the other side of the mess we call a economy. Gl out there keep stacking....
ReplyDelete"Everybody knows you never go full retard"
ReplyDelete...developing...
Speaking of retarded. Listen, if ya'll think that the bankers are "raiding" so that gold and silver prices are stuck at some arbitrary level and not allowed to rise there is a really simple trade to execute to profit from this phenomenon. Let me know if you would like further info...
ReplyDelete