Saturday, July 2, 2011

Quick News, Happy July 4th, 28.09 magic number

I do not have a lot of time today, as summer only comes once in Canada and the real summer weather only lasts for about 3 weeks, so I must enjoy the sun now b/c September snow is just around the corner (add sarc x 4).

Quick News:

-159,779 ounces withdrawn from the Gold field
-28.09 million ounces left in the Silver "inventories", this is now a tipping point battlefield number by the way.
-US mint sold 3.4 million Eagles in June. Thus far the Mint has eaten up 100% of ALL US silver production JUST for Eagles. Godbless America.

COT Report- WOW.

Gold:
1. Large specs pitched 36,272 contracts, thats a big number by the way.
2. Large commercials added 10, 013 long and COVERED 32,479 contracts. Huh?
Gold Cot remains bullish

Silver:
1. Commercial added 1512 long
2. Commercials COVERED 4886
-silver small specs have vanished no leverage left to play with.
My hunch is JPM is starting to get long, and is covering on these massive moves down each day. September should be awesome. Keep some cash around I will have numerous juniors, options to play with.

I will be back later after the sun goes down, Happy 4th of July, thank me lots!
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16 comments:

  1. LedbedderJuly 2, 2011 at 3:00 PM

    I agree totally. The criminals are quietly buying on the way down...ever so gently. Like playing football with a raw egg in their hand. I can't wait for the fall!!

    ReplyDelete
  2. LedbedderJuly 2, 2011 at 3:06 PM

    SGS: LOL. Here in Pennsylvania were not much better. I say we get 5 weeks of summer. Kinda makes you wonder about that whole global warming thing. Where is Algore these days? Rape (or try to rape) anyone lately?

    ReplyDelete
  3. AnonymousJuly 2, 2011 at 5:34 PM

    sgs, cheack the lincoln journal online ...bus. sect. cftc files against a woman for fraud...very short but hey there on the job...

    ReplyDelete
  4. King OTCTJuly 2, 2011 at 7:19 PM

    LOL, sounds like you might live in my neck of the woods (Calgary). Summers are 3 weeks long, if we are lucky.

    thanks for the good work with the blog.

    Happy Canada day.

    ReplyDelete
  5. ColinJuly 2, 2011 at 8:02 PM

    seattle summers, july 8 - august 8

    before and after a crap shoot, we went about 9 months with no temp over 70, had about 4 sunny days in there ... today perfect 77 no clouds, but i hate this climate

    ReplyDelete
  6. TerryJuly 2, 2011 at 9:46 PM

    Quit you bitch'n....Florida summers are hot, humid, buggy and 6 months long. If I didn't live on an island & near the ocean...wtf...I love it here. Hope you had a happy July 1st, SGS.

    ReplyDelete
  7. agThugJuly 2, 2011 at 11:05 PM

    @Colin It FINALLY clouded up and rained here in N-AZ. People are all energetic. Wish we could trade 4-6 weeks a year with you guys.

    ReplyDelete
  8. HewardJuly 3, 2011 at 2:27 AM

    @Ledbedder: I'm here in PA too! Find yourself near Harrisburg sometime and have a beer with me.

    ReplyDelete
  9. AnonymousJuly 3, 2011 at 3:22 AM

    And we thought only Silver has a history of being influenced by Wall Street and Politicians.

    This is scary. Notice the fact that emergency reserves held by governments was done away with and passed over to private org.

    Once again only China and India have emergency reserves!

    http://www.silverbearcafe.com/private/06.11/food.html

    Those people living in NY in those highrise lovely Trump Towers and the likes - where are they going to get their food from? Supermarkets? Do they grow the stuff?

    Scary

    ReplyDelete
  10. AnonymousJuly 3, 2011 at 3:38 AM

    Sorry to be a kill-joy but what do Americans actually celebrate on "independence Day"?

    Is it the memory of a once free people and the lack of the average American's independence?

    Maybe it's a chance to forget for one day the fact that you are being screwed and controlled by your own banks and government.

    ReplyDelete
  11. LedbedderJuly 3, 2011 at 6:43 AM

    @Heward: I'm near Johnstown, Cambria Co. About, I'd say 3 hours away. If I ever look to go to our capitol, I'll letcha know. If you find yourself over here, we'll go up the world's most steep incline plane and eat here:

    http://www.cityviewbarandgrill.com/

    ReplyDelete
  12. LedbedderJuly 3, 2011 at 6:45 AM

    PaidInGold: do you ever sleep? Isn't it 3:05 at your pad?

    ReplyDelete
  13. LedbedderJuly 3, 2011 at 6:49 AM

    @Terry: are you able to split your year? Come to the northeast for the summer. May 1st to Sept. 30th.

    ReplyDelete
  14. AnonymousJuly 3, 2011 at 9:00 AM

    What is this, a Casual Encounters page for PM hoarders...

    ;)

    ReplyDelete
  15. highrise408July 3, 2011 at 1:29 PM

    Since the markets (U.S.) are closed for the 4th of July... any chance were gonna see another May 1st takedown of silver? I hope so... I was wonderin when I'd be able to buy 10 oz bars at $250 again... one can dream right?

    ReplyDelete
  16. highrise408July 3, 2011 at 5:04 PM

    July 4th, 2011... The Revolution Begins.

    http://www.youtube.com/watch?v=HYR6ZiUdcm0

    ReplyDelete

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