Here is a great presentation from Mike Maloney for anybody who hasn't yet pulled the trigger of physical silver or gold yet. If this doesnt convince you, good luck with your Nexflix stocks.
The key here is people talking about it but not owning! When they do buy they will not buy gold as it's to expensive, NO seriously. They will say 1oz gold or 400 shares on RBY or SVM or ABX etc. The miners will explode then.
And... the Myopic Canadian media is starting to see the light, the dimming light of USA's yester-year economy the falling star. Finally, warnings from the home front that the Gov Bank of Canada David Dodge and Finance Minister O'Flaherty might be wrong. The Irishman has stuck his beak in the grape one too many times and is being called out. All is not so well in Canada the center of the Universe!
I just put a call into Warren Buffet and George Soros, Greece needs $30 Billion Stat b/c nobody will buy their bonds at 46%. Surely they can convince Grecians put their Patmos Islands or the Acropolis up as collateral. There's got to be some give and take here guys if you want the Euro to succeed then at least allow the European Central Bank take over tax collections! Awe, the austerity will do them well. Nobody gets UI, or gov pensions any more everybody will work in the salt mines!
Gap at 41.125 in SIZ11. I see getting that filled tonight. That is right in line with support. We hit that, I believe we'll go higher after that. How high is too soon to tell.
@The Weather UNIT: good video. Question: why weren't you like this before? You seemed to scratch and scratch to produce a scab. Now, you've annoyed the regulars here...which defeated your purpose. Just my opinion.
I started speculating in commodities around 1994. The margins were so much lower. If I am remembering correctly, to buy an Oats contract was around $300 (now $1,620) Corn was around $500 (now $3,072). Wheat was around $800 (now $5,063), Soybeans was around $1,100 (now $4,455). So, I'm thinking it is one of two things: (1) the corrupt S.O.B.'s, aka "the powers that be" saw the long term trend and wanted to squeeze us piss ants out of commodities and into stocks & mutual funds--to rape & pillage (2) we going to see an inflationary depressionary HELL that we cannot even imagine today. Any thoughts? From anyone?
Led, C'mon on man you're smarter than that. The price of Oats in 1994 was 25% of today's price. Its all a function of volatility. The average investor knows less about commodities than they do about PM's. Theres no risk of the cartel trying to push J.Q. Public from Commods to Stocks cause they arent in commods. The commod move is a function of the great money printing exercise and the fact that there are hungry Chinese. IMHO commodity trading is the fastest way to may a fortune (or lose one) that exists today. Pln your trade, trade your plan.
@Mike S: COMMODITIES are T-H-E place to be, no doubt. Too bad so many people are scared to death of them (media hype & mis/disinformation). I understand what you're saying about the grains/legumes being much higher today than back when I started, but, even if you add a 75% premium to the old oats contract, it still isn't $1,620. I've read that margin is based somewhat on interest rates, oh, really? Then why aren't they much cheaper? Dollar debasement? You said to me that you believe there is much manipulation...and I agree completely. That is why I take little bites (swing trades) more often than I take big bites (multiple month trades/options). Although I would most likely be the low man on the pole at your poker game, I'll be 38 in Sept. & I am already (what I consider) comfortable. Except for some health problems, life is good.
Don't buy any PHYZZ tonight, things are lining up as of right now to more than just filling the gap at 41.125. I hate too sound like a broken record, but because this market is so manipulated & so volatile, predictions could change in an hour. Currently, SIZ11 is at 41.295
All over America, neighborhoods that were once teeming with hope and prosperity are now falling apart. Hopelessness is rampant and it is spreading. The number of Americans on food stamps has increased 74% since 2007. If not for our increasingly overwhelmed “safety net”, we would already have mass rioting in the streets.
Sadly, we are already seeing all sorts of signs that society is collapsing. As the economy continues to fall apart, the violence in our neighborhoods is going to get even worse.
The following is one very shocking recent example from the Chicago Tribune….
Moments before she was slain last week on Chicago’s Southwest Side, 17-year-old Charinez Jefferson begged the gunman not to shoot because she was pregnant, prosecutors said today.
Despite her plea, Timothy Jones, 18, opened fire on Jefferson anyway, yelling an expletive at her as he shot her in the head, prosecutors said. He then stood over her as she lay on the ground and fired several more times, striking her in the chest and back.
America is changing. The country that so many of us have loved all of our lives is becoming unrecognizable. Large numbers of communities have had all of the hope sucked right out of them. Tens of millions of Americans that want to do things the “right way” are rapidly losing faith in the system.
When you can’t get a decent job after months and months of trying it can be absolutely soul-crushing.
What do you tell someone that has spent a year sending out resumes and has used up all of their savings?
The era of endless prosperity for America is at an end. The cold, hard consequences of decades of bad decisions are starting to set in.
Unless a dramatic change of course happens, the long-term trends noted above are going to get progressively worse. It won’t matter who is running Congress and it won’t matter who is in the White House.
Right now our economy is rapidly hurtling downhill on a bus without breaks and we are headed directly for a cliff.
I hurt my back this spring over a sluice box and been taking longer and longer walks. yesterday I decided to really push my self and went for a 4 hour walk to all the yard sales. now my family bought a house summer 09 so everyone around us payed about 200,000 more for there homes in my neighborhoods. there where a lot of yard sales. but it was all crap. I mean cheap worthless crap. everyone one of them showed me that we as a neighborhood are broke. broker then broke. FLAT BROKE!! there is nothing of value left to sell.
Went over and chatted up with the officer who lives down the street as I like to do from time to time. It's good to know who also has guns in the neighborhood. Then went home and figured out how to stack more phys.
Soymean and soybeans are indeed looking tasty, in a financial rather than culinary sense obviously. Bit wary of stepping in right now though with those big glaring gaps on the chart from last week, especially with all the tutorials on gaps Led has been giving out recently.
@Anthemius: if you can be nimble & afford futures contracts (not options), Soybeans, Soy Meal & Soy Oil look like rocket ships right now. Although the buying has to stop at some point, and yes, gaps to the downside will be filled, riding this nice up move could pad your account with some nice fiat.
Ledbedder said... Gap at 41.125 in SIZ11. I see getting that filled tonight. That is right in line with support. We hit that, I believe we'll go higher after that. How high is too soon to tell. August 28, 2011 7:08 PM
Got the gap filled & continued down to 40.97. Currently at 41.15, but no real bounce. Silver was app. 41.60 when I wrote, so a current "paper" profit of $2,250
ok Led thanks will bear that in mind - just boning up now on the different types of gaps in one of my tech analysis books (I can't afford futures contracts no I use spread bets on IGIndex).
In fairness though, Schiff has been calling for crashes and the collapse of the American dollar for years as well....although he will never say "this is the top" he will also take credit and be given credit when the bottom really falls out.
So in a way, Schiff and Gartman are the same ... only difference is that Garman actually uses the word "top" while Schiff just keeps complaining until one day he is right.
Just saying before the die hards start to slam me. Long term precious metals bull here but still subscribe to the notion that there can be corrections in a longer trending bull market.
@Dan D. If the markets weren't manipulated so blantantly by the Fed, Treasury, HSBC, JP Morgan and Goldman (to name a few), we would have already had the collapse & reset & would be on to the next bull market (stocks). But, instead, they keep throwing bad fiat at it. I agree with your last statement, and if you read my posts above, you will see that. If gold & especially silver wasn't so manipulated & we'd have truer prices, nobody would ever interview Gartman again.
Here is a great presentation from Mike Maloney for anybody who hasn't yet pulled the trigger of physical silver or gold yet. If this doesnt convince you, good luck with your Nexflix stocks.
ReplyDeletehttp://www.youtube.com/watch?v=tj2s6vzErqY
The key here is people talking about it but not owning! When they do buy they will not buy gold as it's to expensive, NO seriously. They will say 1oz gold or 400 shares on RBY or SVM or ABX etc. The miners will explode then.
ReplyDeleteForget Hurricane Warnings---SILVER WARNING:
ReplyDeleteSilver Warning
And... the Myopic Canadian media is starting to see the light, the dimming light of USA's yester-year economy the falling star. Finally, warnings from the home front that the Gov Bank of Canada David Dodge and Finance Minister O'Flaherty might be wrong. The Irishman has stuck his beak in the grape one too many times and is being called out. All is not so well in Canada the center of the Universe!
ReplyDeletehttp://www.ctv.ca/CTVNews/TopStories/20110828/economic-lookahead-110828/
I just put a call into Warren Buffet and George Soros, Greece needs $30 Billion Stat b/c nobody will buy their bonds at 46%. Surely they can convince Grecians put their Patmos Islands or the Acropolis up as collateral. There's got to be some give and take here guys if you want the Euro to succeed then at least allow the European Central Bank take over tax collections! Awe, the austerity will do them well. Nobody gets UI, or gov pensions any more everybody will work in the salt mines!
ReplyDelete15 Min til open... I say we're goin up gentlemen. If not, BTFD!
ReplyDeleteGap at 41.125 in SIZ11. I see getting that filled tonight. That is right in line with support. We hit that, I believe we'll go higher after that. How high is too soon to tell.
ReplyDelete@The Weather UNIT: good video. Question: why weren't you like this before? You seemed to scratch and scratch to produce a scab. Now, you've annoyed the regulars here...which defeated your purpose. Just my opinion.
ReplyDeleteWow. I'm surprised it is dead here right now. We must have alot of west coasters.
ReplyDeleteLed...got Corn ?:)
ReplyDeletebetter yet, got meal?
ReplyDeleteI started speculating in commodities around 1994. The margins were so much lower. If I am remembering correctly, to buy an Oats contract was around $300 (now $1,620) Corn was around $500 (now $3,072). Wheat was around $800 (now $5,063), Soybeans was around $1,100 (now $4,455). So, I'm thinking it is one of two things: (1) the corrupt S.O.B.'s, aka "the powers that be" saw the long term trend and wanted to squeeze us piss ants out of commodities and into stocks & mutual funds--to rape & pillage (2) we going to see an inflationary depressionary HELL that we cannot even imagine today. Any thoughts? From anyone?
ReplyDeleteNibbling on both. Think I'm going to add some Soy oil tomorrow
ReplyDeleteLedbedder: Excess testosterone I guess. :-)
ReplyDeleteLed, C'mon on man you're smarter than that. The price of Oats in 1994 was 25% of today's price. Its all a function of volatility. The average investor knows less about commodities than they do about PM's. Theres no risk of the cartel trying to push J.Q. Public from Commods to Stocks cause they arent in commods. The commod move is a function of the great money printing exercise and the fact that there are hungry Chinese. IMHO commodity trading is the fastest way to may a fortune (or lose one) that exists today. Pln your trade, trade your plan.
ReplyDeleteim going to bed, cleaning up from that bitch Irene was a pain in my ass. Good trading all.
ReplyDelete@Mike S: COMMODITIES are T-H-E place to be, no doubt. Too bad so many people are scared to death of them (media hype & mis/disinformation). I understand what you're saying about the grains/legumes being much higher today than back when I started, but, even if you add a 75% premium to the old oats contract, it still isn't $1,620. I've read that margin is based somewhat on interest rates, oh, really? Then why aren't they much cheaper? Dollar debasement? You said to me that you believe there is much manipulation...and I agree completely. That is why I take little bites (swing trades) more often than I take big bites (multiple month trades/options). Although I would most likely be the low man on the pole at your poker game, I'll be 38 in Sept. & I am already (what I consider) comfortable. Except for some health problems, life is good.
ReplyDeleteDon't buy any PHYZZ tonight, things are lining up as of right now to more than just filling the gap at 41.125. I hate too sound like a broken record, but because this market is so manipulated & so volatile, predictions could change in an hour. Currently, SIZ11 is at 41.295
ReplyDeleteI hope I am wrong, but we're going to lose at least a dollar from these levels. Currently at 41.22 basis SIZ11
ReplyDeleteLooking at 40.255 +/-
ReplyDeleteshould change my wording from 8:21 PM...instead of "at least" to "around"
ReplyDeleteOH shit, I finally just looked at GCV11, yep, PM are going down.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteOn GCZ11, connect low on 8/15 to low on 8/25. Currently GCZ11 is at $1816
ReplyDelete@Ledbedder - Calm down yo... everything will be fine. Just buy and hold. Fuck the spot price.
ReplyDeleteAll over America, neighborhoods that were once teeming with hope and prosperity are now falling apart. Hopelessness is rampant and it is spreading. The number of Americans on food stamps has increased 74% since 2007. If not for our increasingly overwhelmed “safety net”, we would already have mass rioting in the streets.
ReplyDeleteSadly, we are already seeing all sorts of signs that society is collapsing. As the economy continues to fall apart, the violence in our neighborhoods is going to get even worse.
The following is one very shocking recent example from the Chicago Tribune….
Moments before she was slain last week on Chicago’s Southwest Side, 17-year-old Charinez Jefferson begged the gunman not to shoot because she was pregnant, prosecutors said today.
Despite her plea, Timothy Jones, 18, opened fire on Jefferson anyway, yelling an expletive at her as he shot her in the head, prosecutors said. He then stood over her as she lay on the ground and fired several more times, striking her in the chest and back.
America is changing. The country that so many of us have loved all of our lives is becoming unrecognizable. Large numbers of communities have had all of the hope sucked right out of them. Tens of millions of Americans that want to do things the “right way” are rapidly losing faith in the system.
When you can’t get a decent job after months and months of trying it can be absolutely soul-crushing.
What do you tell someone that has spent a year sending out resumes and has used up all of their savings?
The era of endless prosperity for America is at an end. The cold, hard consequences of decades of bad decisions are starting to set in.
Unless a dramatic change of course happens, the long-term trends noted above are going to get progressively worse. It won’t matter who is running Congress and it won’t matter who is in the White House.
Right now our economy is rapidly hurtling downhill on a bus without breaks and we are headed directly for a cliff.
Please wake up America.
Be afraid...be very afraid:
ReplyDeleteNew York Report on Hurricane Irene Aftermath
I hurt my back this spring over a sluice box and been taking longer and longer walks. yesterday I decided to really push my self and went for a 4 hour walk to all the yard sales. now my family bought a house summer 09 so everyone around us payed about 200,000 more for there homes in my neighborhoods. there where a lot of yard sales. but it was all crap. I mean cheap worthless crap. everyone one of them showed me that we as a neighborhood are broke. broker then broke. FLAT BROKE!! there is nothing of value left to sell.
ReplyDeleteWent over and chatted up with the officer who lives down the street as I like to do from time to time. It's good to know who also has guns in the neighborhood. Then went home and figured out how to stack more phys.
Great "leaked" video of a cruise misile hitting the Pentagon 9/11
ReplyDeletehttp://www.youtube.com/watch?v=o51nMDbkUbg&feature=player_embedded#!
Soymean and soybeans are indeed looking tasty, in a financial rather than culinary sense obviously. Bit wary of stepping in right now though with those big glaring gaps on the chart from last week, especially with all the tutorials on gaps Led has been giving out recently.
ReplyDelete@highrise408: that is not how I make my fiat. Although I stack the PHYZZ, I TRADE to make my living.
ReplyDelete@Anthemius: if you can be nimble & afford futures contracts (not options), Soybeans, Soy Meal & Soy Oil look like rocket ships right now. Although the buying has to stop at some point, and yes, gaps to the downside will be filled, riding this nice up move could pad your account with some nice fiat.
ReplyDeleteLedbedder said...
ReplyDeleteGap at 41.125 in SIZ11. I see getting that filled tonight. That is right in line with support. We hit that, I believe we'll go higher after that. How high is too soon to tell.
August 28, 2011 7:08 PM
Got the gap filled & continued down to 40.97. Currently at 41.15, but no real bounce. Silver was app. 41.60 when I wrote, so a current "paper" profit of $2,250
ok Led thanks will bear that in mind - just boning up now on the different types of gaps in one of my tech analysis books (I can't afford futures contracts no I use spread bets on IGIndex).
ReplyDeleteIn fairness though, Schiff has been calling for crashes and the collapse of the American dollar for years as well....although he will never say "this is the top" he will also take credit and be given credit when the bottom really falls out.
ReplyDeleteSo in a way, Schiff and Gartman are the same ... only difference is that Garman actually uses the word "top" while Schiff just keeps complaining until one day he is right.
Just saying before the die hards start to slam me. Long term precious metals bull here but still subscribe to the notion that there can be corrections in a longer trending bull market.
Cheers
Dan
The Fundamental View
@Dan D. If the markets weren't manipulated so blantantly by the Fed, Treasury, HSBC, JP Morgan and Goldman (to name a few), we would have already had the collapse & reset & would be on to the next bull market (stocks). But, instead, they keep throwing bad fiat at it. I agree with your last statement, and if you read my posts above, you will see that. If gold & especially silver wasn't so manipulated & we'd have truer prices, nobody would ever interview Gartman again.
ReplyDelete