"The Decade of EPIC Begins"
Jobs number has temporarily saved the general market. This may cause Bernanke to chill with an official QE3 announcement next week.This has probably kept Silver from snapping back today!At least we do not have another May like smackdown again!
SGS -I never sold my LULU August 11th $50 puts. They are now finally in the green. Any price/day targets on when you think I should dump them? Looks like one more big down day and they are going to explode. But after looking like they were going to expire worthless, I don't want to get greedy. Another donation coming once I sell.Thanks,Silver Monk
Monk,I don't know how deep you're in with LULU, but I got out that PUPU as soon as the pastures turned green. You and I were both in on $50 strike... I say next time, we choose better strikes! We could've made more loot!SGS, not much but something's in your ScamPal account.
raid part deux is on now. it's like someone tied tied a piece of string round silver's neck, attached it to JPM's waist, then pushed JPM off a cliff, silver following right behind.Ag still higher valued though. I smell desparation in the air.
wow..what a fucking joke..why does it still surprise me to see this blatant manipulation when I know it is coming...pretty much every fucking day!?!?
Bring it on, I am going to my coin dealer this afternoon. The funny thing is that the minute I walk through his door, he is going to look at me and say, "I am not selling you silver for $38.00 an ounce." He cuts me good deals though on stuff he got a good deal on. Wonder what I will end up with today. Sometimes its junk, sometimes eagles, sometimes rounds or bars, but he always has something he cuts me a break on.
So sgs shall we wait more for next round at 37 or this 38.01 is good. i ot in some yesterday in india.
Very very very good post SGSAC
Excellent Post!! Appreciate the work!
I am no trader, but to the casual observer, today looks like nothing more than a horse race between the paper price of silver and the fraudulent share price of JPM to see which gets to spend the weekend in the drivers seat.
monkey: Im expecting an equities surge on tuesday after jackson hole, I would take an even or profit now. My 57.50's doubled, but I sold most of them like an amateur faggot would last week.
Tom, can you explain the significance of the correlation between JPM and Silver price? I know there was some talk a long time ago (I believe by Wynter Benton) about this situation but I wonder if that is the only source of the info regarding this correlation.
@reef, I am not exactly sure how it works. Max Keiser and a bunch of posters on ZH talk about it alot, but apparently it has something to do with derivatives that JPM sold, and their losses multiply exponentially when Silver is over 36 and when silver price exeeds JPM share price. I am sure someone here can explain it better than I can.
@ Reef, I also know Keiser has stated many times that as soon as POS exceeds JPM, JPM is technically insolvent, that is, if a bank can actually be insolvent anymore.
Interesting video SGS!
i also had 57.50 and held on until it doubled and dumped LULU.I only held on because I knew something was fucked, and I basically had no choice. If i lost i have to go find a real job doing something,..so i can build some real capital to make proper buys/sells.
Thanks for that stream. Really helps to understand what's going on. The guy explains it so well. Sold my stocks/bonds for more physical silver/gold last Dec exactly for a day like yesterday.
Like an amateur I bought a monster box after the 5% drop yesterday, only to miss out on another 5% drop. My 2 year old requires me to turn my profanties into the word sausages. So, sausages sausages sausages! In a couple of years it won't matter, but right now, sausages!
Excellent post - thanks - and I believe that JPM collateralizes SLV with their own shares, so a stock price below SLV...ungood...or that's what I derive from Keiser and ZH