Wednesday, August 31, 2011

Silver coiling like a cobra (I'm not even sure if corba's coil)

This is the 2nd time I have written that title. Last time I wrote that on April 2nd, we climbed another 23% to the May shut down. Now, I'm not saying its going to do it again, but market action, Comex tightness and overall technical analysis tell me we are ready to go in the fall. We could see one last raid, but it will be short lived, and will only serve as a negative feedback loop for those ready to buy that didn't at $33.

Blythe tonight has a larger problem than anyone has been discussing here. Not sure why no one is talking about this as its worse than the March/April issue she had. We have the total number of notices that wish to be served for silver metal standing tonight at 3194 which is 15,970,000 oz WITHOUT options expiry which COULD take it into the 20's.

Will she hand out a bunch of worthless dollars? Sure she will. Maybe this is where Wynter Benton comes into play, lol (sorry had to) and stands strong!

Key levels I will be looking at to ADD to my longs are $42.45, but by the action I saw today there were major bankers unloading at $42. I will be all in soon, meaning 95% metals/juniors/options, 5% cash. By the time the new site is ready, which should be after this long weekend, I will be looking to buy any large red days. So put the stink bids in, free up some cash, its almost Xmas time! The Fall season is looking bright for a fresh round of the Quantitative Easing, Europe demise, and all time metals highs. Get your shit cocked, locked and ready to rock- we make history this fall.

P.s. How could I forget. Good luck buying 1oz Dragons.

60 comments:

  1. SGS - What do you think about a coming global liquidity crises sinking the price of silver in fiat?

    I reserved 6 dragons at APMEX the day before your alert...I hope I get 'em! :)

    Love your blog!

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  2. What % are you invested now?

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  3. Im done telling other people about this shit. They dont fuckin listen. We are a very rare breed gentlemen... VERY rare.

    I have been thinking to myself as of lately, as I go to work everyday, "why the fuck do I do this? What keeps me here, what keeps me from saying fuck it, Im done, thats it, no more playing this game? What is holding me back from just leaving the city and finding a nice piece of federally owned land, and squatting on it for the next 5 years while I live life as it was. The stars, the wind, the frogs, the rivers, the fields."

    Then I realize "Oh yea, cuz Im the shit. I know more shit that 95% of these shitheads think they know. Shit, if these shitheads knew the shit that I know, I wouldnt be shit."

    I love this shit.

    Thanks SGS, for everything. You make my life less shitty. Not by much, but it helps.

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  4. For shits and giggles, I just bought a 1oz Dragon and a 2012 1oz Kookaburra. Mind you I only live 10kms from the Perth Mint.

    Seems they have stock, but the mint has only been open for 30 minutes.

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  5. I'm in the camp that the coming liquidity crises will turn into a global printing crises. They will print before this motherfucker goes to zero. And I'm not dumb enough to hedge with PUTS so even if the equities get smoked, I win.

    Andy: I have ordered an additional vault (so that will tell you how much phyzz I have) which right now represents upwards of 65% of my personal portfolio is phyzz, 15% is options and juniors, and 20% cash. That 20% cash will be hurled into calls come before QE3 time for quick profit taking, then turn into phyzz. I'm sure you see how my loop is set up. Eventually I will be 95% phyzz, 5% cash.

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  6. SGS, as always, you are the shit, dude!!

    I have had the same feeling,(feels like it felt back in april-may) and wrote where I feel it's going, and when.You know they are saving their powder for when it challenges $50, again, which is any time now.It will try to go parabolic, then comes THEIR smackdown.But, as you stated, that will be temporary(maybe 5 minutes!) as there will be a stampede to buy at 32.50-34.00 levels and it is "Katie bar the door!" at that point.

    www.silverbullsilver.blogspot.com

    ....AND, what IF the BEnjamin Fulford stuff I posted is even 50% true??? Holy-krap!! On the radio show he did on rense.com, he stated that the way they are paying gubermint employees now is whith the money they are churning outta the markets, fwiw....makes sense to me,though.

    SilverBull.
    (...oh ye little sister of gold, "GO SILVER!! Yee-Haa!!)

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  7. @SGS,

    I don't care if we have to sacrifice a chicken or a sacred cow, or maybe dance around a bonfire with naked, painted bodies...you get SLV to $50+ by Sept option expiry, and Christmas will come 3 months early! I'll even take 49.69 @ 23% from today's close...

    fm

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  8. heath: I would HIGHLY recommend you buy as many as possible as most of us dont have the luxury of walking in and have to get from online sources. You should ask them why dealers cant place additional secondary orders.

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  9. @Shotgun Zeke - Which of the Dragons did you reserve?

    I raided eBay of quite a few Norfed's recently. Come and get em motherfuckers!!!!

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  10. FM: I will be smashing my call key at the Jan 21 SLV expiry for $41 strike until my account is empty come that time.

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  11. picked up 2 5oz dragons from Gainsville, that was all they had left bitchezzzz
    PS WU U SUK DONKEY COCK

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  12. highrise - I reserved six of the 2012 1oz Silver Dragons. They're supposed to email me when it is time to order them. There was no price posted at that time, either.

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  13. @Shotgun Zeke - You did that through apmex I assume. Hopefully you got that linked to a smartphone that will ring like a doomsday siren when they are available. The pre-order shit on that site was extinguished in one week. I pre-ordered a tube of 1/2 oz, one 5 oz, and a 10 oz Dragon last Thursday. When those 1 oz Dragons become available, they will be gone less than 24 hours.

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  14. SGS: I've been stacking up on bullion bars from the Perth Mint, gotta love paying 80c to a dollar over spot for 1kg and 100oz bars. I just bought the coins for something different, a little keepsake, as I don't like paying $10 over spot for my silver. I'm all for getting as much for my fiat dollar$ as possible as I'm not made of money and don't have the smarts to day trade to make extra $$$ to convert into phyzz.

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  15. For the record, cobras don't coil...but pissed off tax slaves do.
    hollowpoints, phyzz, long on guillotines.

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  16. This comment has been removed by the author.

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  17. Rumor has it that the "large silver holders" are having trouble finding investment size bars and are dipping down into the retail sizes to acquire what they desire. If true, the spread from spot to physical price is going to go insane.

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  18. Great CNBC interview with Ron Paul on the topic of Gold.

    http://www.youtube.com/watch?v=KVVPfn8U-tA

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  19. SGS, where does one find a private vault in a major city in Canada one can trust? Thanks!

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  20. rent a pole awger, cement it with a commercial tube safe...thats the safest vault you will find in Canada.

    On the serious side, I am actually looking into leasing an old CIBC branch that is vacant right now....

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  21. SGS,

    Long time lurker, first time poster. That's right, here's my V-card. Sorry about the blood.

    For anyone who cares to answer, I was about to pull the trigger on some SPY puts - I figure this thing's being held up by hope and prayer, and it's almost October, the season of "Black [insert day of the week]." Plus I don't know how they could swing QE3 without a crash. HOWEVER, I'm not about to ignore the guy who broke the Dragon situation calling a move dumb. Thoughts?

    The Dragon thing is juicy for sure. Is there anything special about them besides rarity premium? I don't get the attraction.

    And Guy Fieri is pissed about that Cory C guy. He doesn't like competition in the middle-age toolbag scene.

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  22. @MIke,

    great first post! "middle-age toolbag scene " LOL

    Before you look at putts on SPY look, at calls on SDS powershares double inverse of SPY!

    Give yourself some time, that bitch is going down and hard! Fucking running on hopium! The S&P is around 1223, I'm looking for a low of around 1110-1000, we shall see. Its run up 10 points in a week, I expect is to come down faster! Maybe starting Friday or after Labor day.

    FUCKING SEPTEMBER WILL BE EPIC!

    Not only is my birthday month but ill complete my master degree.

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  23. Oh, yeah. The Dragon is highly significant in Asian culture especially to the Chinese! Luck, strength and prosperity.

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  24. http://af.reuters.com/article/metalsNews/idAFL4E7K101320110901

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  25. @SGS,

    I've got a good stockpile of physical in my posession but I want to get some PM's offshore if/when Amerika goes down in flames. Who would you recommend for an offshore storage facility?

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  26. Malcomb, I've been holding shit-load of SEPT 700 SPY puts for 2 months....I think I might miss the move by week....But, who knows, the bottom could fall out this friday! (along with recently purchased SLV SEPT $34.00 PUTS....)

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  27. Why SLV puts? I have some SDS calls let hope the dead cat bounce ends soon!

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  28. 3 hours till my midnight trip to wal-mart. see if food stamp participation is up and how badly this round was needed. these last few night its been super quiet over there. I'm thinking they ran out earlier then expected so the resupply should be huge.

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  29. @Malcolm,

    Thanks bud, it was about time I pulled up my pants and grabbed a stool at the bar.

    Checked out SDS - holy crap, bustin' mahogany over the long term chart. This thing looks irresistible for bets against S&P. Makes sense about the Dragons with a Chinese buyer. September's going to rock your socks; birthdays are fun, but no more assignments and tests hanging over your head is liberating.

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  30. @Mike,

    Made 40.4% on SDS one day last week as a day trade :).

    Wait and see were this top is could be around 1300 of 1250 nor sure but when it goes back down it goes to 1000 or maybe even 900. Trigger points are: no QE3 in the conventional since, the EU, and maybe war.

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  31. Malcomb: dont forget 9-11 anniversary is upon us, too.HUGE trigger.9-11 was an inside job, btw...

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  32. Hey guys, Anyone figure this out?
    The main European online supplier, coininvestdirect has for a few days now, a near 6 Dollar premium on the 2010 Silver Eagle coins versus the 2011 strikes. I'm not complaining, my Monsters are 2010's ! They sell the silver Dragons in half oz, 5, 10 oz and 1 kilo, but are unable to get 1-oz.

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  33. 1oz Silver Dragons have probably all been bought by the (drum-roll)
    White Dragon Society.

    Anyway. Don't store your "goodies" in a safe deposit. In the UK the government authorised the police to smash into one of the large safe deposit companies and steal all of the contents. Then if anyone complained they invented charges of the person being a pedophile.

    The UK is the place where they test these things before bringing them to a wider public.

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  34. @Malcolm: soon, brother, soon...those bets against the stock market will pay off. My choice is ESZ11, though the are a smidge expensive. We should be ok through the weekend, as they keep using the "long Labor Day weekend" as an excuse. Gosh, they do think we're dumb. Geez, with all this dragon talk, I'll get one just to have one! Your b-day in Sept.? Me too, as in today. So, Happy Birthday to you (early).

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  35. @Malcolm: did you notice when you go on OptionXpress's charts, and you go to the streaming charts, that in the top right hand corner of the chart they give you the percentage move for the timeframe you chose? About damn time they do something cool.

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  36. @Malcolm (sorry if I am leaving folks out, but Malcolm & I both use OptionsXpress). You would think merging with Schwab that their site would expand/get better, what are your thoughts?

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  37. @MikeS: We both know the dollar shouldn't rally, but it may for awhile (or may not as well). What is your thoughts on what it would/will do to commodity prices?

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  38. HEy SGS, did you know that on the Perth mint bars they have a black swan stamp on them? The black swan is also on the state flag. Is that fucked up or what.

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  39. @georgesilver- Now you have me thinking...could Wynter Benton be a member of the White Dragon Society? You can't make this stuff up! ......Really!

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  40. @JC - tell us more about your source of the information about lack of investment bars. My dealer still has lots of retail silver in the displays.

    Also for anyone else. Been thinking about the susposed deriatives contract and the JPM stock price lower than spot. Who would be on the other side of this contract with JPM? Who would sell them this type of insurance contract and what interest would either party have in placing that bet?

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  41. Here is the source for the info on the investment bars:

    http://www.rumormillnews.com/cgi-bin/forum.cgi?read=214336

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  42. @Led, the DX bounce is nothing more than a reaction to Europe. I think the PM strength is telling you the story, cash is flowing to commodities. I am pretty light on my long exposure nonetheless and have been tightening stops on my existing positions. I refuse to relinquish the profits that I've made since early July. That being said I am ready to load the silver boat with December paper if they give us a chance. The monster boxes have been arriving on a regular basis but the leverage of the comex is too good to ignore.

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  43. BTW, I'm out of my Sugar long, I do not like the VERY large seller >30 that appears every single day. When he's done it may rocket but the larger pattern could develop into to something very ugly. There's a neckline break below 28 that could send this thing to the basement.

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  44. @MikeS: 4 hits on the ceiling...don't blame you.
    @Anth: hope you read. That is why you need to be patient in case stuff like this comes into play. Thanks MikeS

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  45. @MikeS: trade paper, then buy what is necessary. That is my motto.

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  46. SGS,

    Thanks for the tip about the silver dragons. The 1 oz dragons were long gone, but I was still able to get a 2 oz and a few 1/2 oz coins before they disappeared entirely at APMEX. The premiums on these babies will probably be equal to or greater than the melt value in the coming years.

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  47. Folks, pull up 2 windows on your system: keep this up, then look at SBH12 on your brokers website. There are many times you just need to have some patience:

    Ledbedder said...
    @Anthemius: This is what I am using for SBH12. Low of 25.38 on 8/8. High of 30.60 on 8/24. Drew a traj. line (using intraday lows) starting with low on 5/17 to low of 8/8.

    The 38.2% was 28.61
    50% 27.99
    61.8% 27.37

    The 38.2 & 50 have already been hit. What I would ultimately like to see 27.37 get hit. If it takes several days, that should be at the slope of the traj. line as well. The past 3 days have had intraday highs of: 29.36, 29.30 and then today of 29.35. Some people refer to that as a ceiling. When that occurs, the market usually takes a rest. Long term, the trend is up. And, yes we're very close to a safe buy point. Now, if it has a solid close above 29.36, say, 29.5-29.7, then I would have to say it is not (for now) going to the 61.8 or traj. line. The next few days should give us a clearer picture.

    August 30, 2011 7:24 PM

    Now, as you see, I said about a safe buy point, but that was before anything has developed. If it hits the traj. line, maybe buy 1 contract & watch it like a hawk. These prices are, historically, very high for sugar, but it also went up to 44.2 +/- before as well.

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  48. Haven't been able to access Turd's site all day so far, anyone confirm if they can get to the site?

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  49. @Highrise: I'm in the same boat. This month's Sovereign Man Confidential (Simon Black) has a lengthy article on just that.

    My plan is to diversify to avoid any particular jurisdictional and/or company risk. I like BullionVault with gold in Zurich and silver in London.

    I also like Perth.

    I am presently investigating GlobalGold. They are high $ but you can ship your holdings right to them! ($250k min)

    Just as you are diversifying outside the USA, I think it prudent to spread the assets across jurisdictions. Think of it as a fleet trying to escape a hurricane, some boats may not make it but overall if you scatter it far & wide then hopefully enough will survive to do the job.

    Godspeed.

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  50. SGS right on the money, "they will print to infinity before this fucker goes to zero!" Liquidity Crisis bullish for PMs, although there may be a "transitory" buying op, I think most big PM investors are already on board with QE infinity and beyond.

    Finally got my last box of maples in, over a month back order but it's fun getting 40 dollar silver in the mail with spot prices like these. :)

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  51. My local dealer hasn't been able to get any silver bars for months unless a customer brings one in for sale. Yesterday, the only silver he had available was the 1 oz Liberty. Still had gold maple leafs, but no silver. There's definitely an increased demand for phyzz. I doubt Sprott would be able to get more for PSLV without going direct to miners.

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  52. @David, Diversify all you like it will not make much difference.

    The COMMONWEALTH OF AUSTRALIA is registerd in the US SEC as a corporation owned by the IMF.

    The charter is the AUSTRALIA ACT 1986.

    This would mean the Perth Mint is owned by the IMF.

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  53. @David, Have a look at your Birth Certificate or Drivers licence. If your name is in CAPITALS you are a corporate entity my friend, right in the MATRIX.

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  54. Hey SGS. why do spell Christmas Xmas? Have you been threatened for using the word Christ in Christmas?

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  55. @Ledbedder,

    I just woke up. Happy Birthday.

    I'm on a Mac, dont know if that makes a difference, but I cant see the percentage move for the timeframe, Ill keep looking.

    I have only used a couple of other option sites, I like optiosxpress, though I use the web based interface more than the software based. They seem to be full featured tons of tools.

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  56. @The Unfiltered Eye,

    Wasnt Christ born in April or May?

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  57. @paulo: there is no "if": all capitals on: birth certificate, drivers license, checking account, credit card, mortgage...yeah, isn't it great?

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  58. Though I have been skeptical against the claim about the 1 oz Lunar Dragon, the coin trader in Heide, Germany, by whom I have bought silver, now only offers 1 oz Lunar Dragon to existing customers ordered by telephone, as it says on his homepage:

    "1oz Lunar II Drache 2012 telefonisch nur an Bestandskunden" - (en) 1 oz Lunar II Dragon 2012 only to existing customers by telephone!

    That indicates scarcity in those coins.
    silber-bastion.de/angebote.html

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