Monday, August 29, 2011

Open Thread

Much Ado about nothing. Bland day thus far to say the least.

Well I changed my mind...was just filling up and decided to show my American counterparts what we are spending our hard earned Canadian Dollars on. Just be happy you arnt pumping gas for $4.85/gallon like we are.


37 comments:

  1. Hello SGS,

    Just like to ask you, where to you buy your physical gold and silver from .. and is there any low premium options you can give for asian buyers
    Thanks

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  2. Bean meal acting as anticipated and beans even better

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  3. Mike S: email me at mrsilvergoldsilver@yahoo.com need to ask you a question.

    Unknown: I have various dealers non that I am familiar with in Asia. I'll ask if mine ships there.

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  4. Karl Denninger has finally got the message:-

    "Karl Denninger: Real people say 'screw you' to the markets"

    http://www.market-ticker.org/akcs-www?post=193037

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  5. So does anyone have any idea why this market continues to go up? The metals go down, miners up. I'm just watching all this and wondering wtf! I'm not in any stocks, phyzz only, and glad I am not. I can't see how anyone would trade this. Isn't Europe burning and broke? Maybe everyone knows QE3 is baked in?

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  6. This is going to be a light week due to Labor Day coming up. All sorts of bullshit action will be seen I'm sure. Lots of boring range trading as well. Expect it.

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  7. Metal Dealer....I would highly recommend Tulving.com.

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  8. SGS, are there differences between the spot fx markets and the comex in terms of what will happen if there is a default on the comex?

    I have a heap of phyzz but I'm working a paper position from forex and rotating the gains into mining stocks on the dips/rallies.

    AC

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  9. When the time comes, how do I sell my physical silver? Selling one oz at a time on EBAY is one way I was thinking of, but what if I need to sell a larger amount. I'm concerned that I might get stuck with a lot of silver bullion and coins.

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  10. You gotta love our pump prices, especially last week when WTIC was at 80 and Brent at $105, I don't think they've come down more than 10 cents since early summer.

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  11. Drum roll please..... get this, the Fed Gov want's higher gas prices to pay for the the American made $35 Billion F35 Raptors to protect our coast line from African boat people. And the best part is - Big oil pays Zero taxes! The Cons do not collect taxes from large corporations. They milk the middle!

    Life would be so simple if everybody and every company paid 17% flat tax - no exemptions.

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  12. Don: If prices go where we think they are going, you will have ZERO problem selling. In fact, I wouldn't doubt if people started calling you asking to buy it. What I'm hearing is, "If prices go DOWN, how do I sell it" I sense some fear in that question. Physical is long term...pretend it doesn't even exist until its $500/oz.

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  13. We here in the Netherlands are paying 1.60 euro/litre, which is 6.05 euro per gallon. 6.05 euro is about 8.78 dollars, so stop whining!

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  14. All...I've been assigned on paper for Micro on an industry of choice worth investing in...teacher doesn't believe physical silver/gold or the silver mining industry is profitable (suggested diamonds and investment banks). Looking to prove him wrong have loads of videos to reference does anyone have any suggestions for any written work I could use as reference? thanks

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  15. SGS ,what do you think of this>>http://www.youtube.com/watch?v=e68JdtAQ6Ew&feature=email

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  16. Anyone have any evidence against the idea that Cotton is starting to gather upward momentum? It seems to me that it is trending up from the H&S/triple bottom hybrid from a few weeks ago having retraced almost all of the leg up which started last summer.

    PS. Can anyone recommend a good book about futures trading? I have quite a few about technical analysis in general but would like one that emphasises any particulars of the commodities trading.

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  17. @malcolm: sorry my prayer from Friday night made it to the big man's ears! :)

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  18. @Anthemius: I would be very cautious on cotton right now. I'd like to see a close above 109 in CTZ11 then re-evaluate. As far as a book recommendation, sorry, don't have one.

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  19. How the shizzle is this bullcrap market going up by hundreds of points today? I think they pumped the hurricane story so they could use the "look, it didn't destroy NYC" line to prop the markets for a day. Thoughts?

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  20. @IslandStyle: Fib. retracements

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  21. Just a quick note about gas prices. In the UK we are paying aprox £5.30 plus per US gallon or £6.30 per UK gallon. At $1.61 cn to the £ this works out to be $8.48 CN per US gallon. To put this in perspective, each time I fill up, its one ounce of silver less I can buy at current prices. Of the pump price we pay aprox 70% is taxes or duty. And they sat its the oil companies that are profitering!!!

    Charles UK
    allthingsliquorice.co.uk

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  22. I have a friend who used to be a hedge fund manager back in his day. He emailed me last night and said that on Friday during the late day rally that all 3 US indices technically turned positive, which will spark a rally for the next 2 weeks minimum.

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  23. http://www.bbc.co.uk/news/world-us-canada-13338754

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  24. Island Style - well, I can try to channel Led and see if i can apply what he's been saying, I would say that the main leg down of the S&P recently was from 1350 to a min at 1080, and a 50% retracement is about 1216, so a move to this kind of level is not unexpected.

    1215 also happens to be a level that Rick Ackerman has noted as significant. I think i'll be looking for somewhere good to start shorting soon...

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  25. Anthemius,

    Do you subscribe to Rick Picks?

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  26. malcolm - yes, though I started only last week on some recommendations from here so don't have a great deal to say about it yet, am intending to do his next webinar.

    I just realised today where i knew his name from. he's the guy who got into it with FOFOA about deflation/hyperinflation.

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  27. @Anthemius,

    I'm thinking about jumping aboard Rick Ackerman's next webinar, coming up in October. I watched the vid he posted on his website on Friday and was impressed. If anybody else here is using Rick's Hidden Pivot method I'd like to hear your opinion about it!...

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  28. Prices here in Germany are similar to Holland: about €1,60/litre, which roughly converts US$ 9/Gallon.

    At the same time, I'm always totally disgusted by the absolute WASTE of energy in the US.

    Shoddy construction in cars, houses aircraft etc. There simply is no need in the US to get their act together and the results can be seen after a little wind and rain hit NYC.

    p.s. Georgesilver, what do you mean Karl Denninger finally got the message? He's one of the biggest PM bashers there out there.

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  29. @IslandStyle: High of 1348.75 on 7/8. Low of 1072 on 8/9 (SIZ11). The difference is 276.75.
    50% of the difference is 138.38. Add that to the low of 1072, and you get 1210.38, that is your Fib 50% target. To get 61.8, take .618 x 276.75 to get 171.03. 171.03+1072=1243.03 Your 61.8% Fib. target is 1243.03. The powerz that be will probably go too nuts in their manipulation & send it past the 50%. It is already at 1201. If you didn't see my "prayer" from Friday, I can find it for you. I knew this bounce was coming & these levels give me something to watch. Throw is some traj. lines & maybe look at some Ocillators, but I don't use them much.

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  30. Why does MSM often speak of "buying opportunities" but never of "selling opportunities"? A good selling opportunity in stocks is coming up here (time to crystallize profits on AAPL at $400).

    Does anyone really believe that silver will go from $7 to $400 like AAPL has in nine years since 2002? AAPL makes stuff that people from all walks of life crave, but silver is nothing like that so I doubt it... When a commodity price soars, demand destruction occurs or a substitute is created that counters the rising commodity price. So silver could certainly rise to new highs, perhaps even to $70 eventually or at most $100 sometime - but not like the 10,000% returns of AAPL, and possibly not before first retesting $36, right at that apex of the wedge on the daily silver chart. Just saying.

    Good luck!

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  31. @Judy: are you taking into consideration the hundreds of industrial uses? There is potential for states to issue their own coins with silver in them like pre-1965. Forget just about the U.S., if some countries, even the tiniest of countries start putting silver back in their coin...we're talking huge. This fiat system is going to collapse worldwide. When will it? I just don't know as I am not a corrupt "law"breaker. I'm not going to figure out the percentage move from $7 to $400, but I know it is huge. But, it was only 1993 when silver was around $3.50. Also, the Fed/JP Morgan/HSBC/U.S. Treasury/Goldman never tried to suppress the price of Apple. You've got to take that into consideration, yes?

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  32. I wish it was equivalent of $8.50 approx per gallon in UK, try $10.35 +

    fuckin rip off. It's also about 83% tax on that. I think it's something like, for every £ we earn, we keep 13p!!!!

    Come to the UK and get Royally screwed.

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  33. @B

    Regarding Denninger, try this...

    http://tinyurl.com/3wt7swx

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  34. sgs your comment sparked an idea..

    what if one placed an option contract (i am not an expert on options) for something like 1-10$ on silver or the relative equivalent for gold SLV GLD because, as they may prove to the massive pub-sheep-lic to be fraudulent vehicles incapable of any physical delivery and worth nothing...

    people RUSH OUT but you catch a nice unimaginable drop down ... i mean if this sounds plausible how long would you want the option contract to expire.. 2016 if possible ...

    or what are the chances that TPTB will pull something unpredictable and prevent large fiat gains just as the system is hours - days from collapse

    if this sounds reasonable can it be done with Large profit with minimal investment? especially during rapid dollar devaluation

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