Thursday, August 11, 2011

Silver Update

38 comments:

  1. If gold is catching up to silver what does that say about the long-held gold/silver ratio of 16-1? Shouldn't silver be catching up to Gold to restore the ratio?

    ReplyDelete
  2. I'mma be the first to say it.

    Silver being manipulated right nahh.

    ReplyDelete
  3. Yep, Ag should be renamed BS for now. One day though, my long friends, we shall all be a smilin'.

    ReplyDelete
  4. Forward will be be gold backed world reserve currency and maybe the mother of all currency crisis...

    ReplyDelete
  5. The germans are bullish on the phyzz ! Blythe isnt.

    ReplyDelete
  6. Judging from the recent newscasts Im starting to think if it gets to the point of a new currency being implemented this world will be so fucked up it won't even matter. Im going to focus on junk & lead for awhile.

    ReplyDelete
  7. SGS,

    You mentioned in a recent post that you had some news on Tinka that you were going to be coming out with after speaking with the people "on the ground" down there. Any news? ;)

    Thanks as always!

    ReplyDelete
  8. DM: lots of news. I will do a full right up after im done buying all these shares people are dumping. WIll have for monday I think.

    Malc: By January this should be in the money. If its not, it should be close enough to triple the fiat. Its been beaten down, and its heavily shorted by JP, so eventually the short covering rally should be fierce in the fall.

    ReplyDelete
  9. No shit SGS. ;) I'm kicking myself for not buying more around 39-40. Thanks again!

    ReplyDelete
  10. as I often tell my HS basketball teams I coach, "Keep the faith."

    for the people come in here whining about silver, sell it and keep you FRNs, either that or just forget the charts and look at the price in two years. what am I supposed to do, cry cuz gold is down 54 pts off its high 24 hours ago?

    you could've got silver at 8 in the same window I am telling you to walk away from it.... crystal balls are for wicked witches, margaret hamilton coulda conjured IBM but Garland tossed a bucket of water on her, think about trading positions with her ass instead of fretting silver dips ...

    trivia dept.: speaking of silver, in Baum's book the ruby slippers were Silver ... Oz is analogous for price of an ounce of gold ... whole movie is an indictment on the monetary system ... some of you have prob seen the doc, The Secret of Oz:

    http://www.youtube.com/watch?v=h8qLkpA_PSs

    (start it at 1:13:30 for the Oz story)

    ReplyDelete
  11. Wow, the Swiss government just fucked their citizens today. Goodbye to the last decent hard fiat currency! Hello Swissy, welcome to the printing press!

    ReplyDelete
  12. Excellent presentation. It really helped me understand the currency system. Thank you

    ReplyDelete
  13. NOT ONLY DO THEY FUCK WITH THE PHYSICAL PRICE THEY CAN'T HELP FUCKING WITH EVERYONE'S MINE..THESE PEOPLE ARE ABSOLUTE SCUMBAGS AND SOON WILL BE SHOWN NO FUCKING MERCY...THIS IS BEYOND ECONOMIC..IT IS GETTING TO BE PERSONAL

    ReplyDelete
  14. I have seen a lot of new subscibers to SGS who are fretting about the silver price going down. Just think about it as a buying opportunity.

    But if you can't get past the BS manipulation then watch this video in order to cheer up. For the verterans here, this is the video I posted to SGS on my 37th birthday this past June. I just couldn't get the number "37" out of my head :-)

    http://www.youtube.com/watch?v=tpQqH4H_SUQ

    ReplyDelete
  15. At the time I wrote this GCZ11 was right around 1794.2. Currently at 1745.9...gain of $4830

    Ledbedder said...
    Looks like gold needs to take a breather. Hit the upper tradj. line near $1815 +/- in GCZ11
    August 11, 2011 4:55 AM

    And had anyone been nimble enough to get in at say 1810, that would have been a gain of app. $6410.

    ReplyDelete
  16. Great presentation from BrotherJohnF's YouTube channel.

    He really should be given the credit he deserves as he's used by so many blogs.

    ReplyDelete
  17. Two day gain +/- some slippage $11,280

    ReplyDelete
  18. Video freezes at 00:35 for me.

    ReplyDelete
  19. Ledbedder - you seem to be on a roll. I'm having a bad run and suspect I'm On Tilt now and not thinking straight and could do with a small simple trade. Any charts you suggest I look at that seem to you ready to move one way or the other over the next few days. Any pointers would be much appreciated.

    And any chance you might update us with your thoughts on Corn? I'm just interested in the contrast between the approach of you and MikeS and am following the chart and trying to learn from the commentary.

    ReplyDelete
  20. I agree with Adam, the value of silver and gold are just the result of an unstable system and Lack of confidence. The markets are on the verge of a crash given any negative stimulus, investors are on pins and needles and are ready to jump. If they can rise on a lousy jobs report just wait for another bad signal from the US, EU, major bank or a natural disaster. Good article on technicals and how precarious the markets are: "Why The Worst May Be Yet To Come" http://finance.yahoo.com/news/Why-The-Worst-May-Be-Yet-To-etfguide-3615683319.html?x=0&.v=1

    ReplyDelete
  21. Check this out, is this for real and is Ben for real?

    http://www.theonion.com/articles/drunken-ben-bernanke-tells-everyone-at-neighborhoo,21059/

    ReplyDelete
  22. @Anthemius: December corn came very close to making a new 52 week high. Although I didn't check because I don't use them, reports must have come out today as grains rallied strongly. If it breaks AND closes above its 52 week high (722.75). That would be quite bullish. Soybeans, wheat & a lesser extent Oats didn't close up nearly as strong as corn. Corn most recent spike high took it to 799.75, so even cz11 manages to close above 722.75, it still has a long way to break that 799.75 price. I should be able to tell more by tomorrows close on corn. If you remember, I told Mike I was LONG TERM bullish, and I am. At these heights, I'm not comfortable going long. Besides, I have plenty of action in other markets. Before I move away from corn, I hope you have seen how much I bring up gaps & how they eventually get filled. Well, it is hard to see, but CZ11 had a gap to fill at 713. Its intraday high today was 714, thus closing the gap. I think that is why tomorrow could be a very telling day. If corn can't follow through & close higher, then I will look at it very closely over the weekend.

    You asked about things to watch. You talking commodities/futures or stocks? I don't really look at stocks as there are too many of them! LOL. I saw on a blog mentioning AUY. It actually held up today as the physical got stung. Remember, saw it on a blog, but the chart does look very strong right now.

    P.S. Got out of my corn short on 7/5 & haven't chased it up, though there were several entry points where you could have.

    ReplyDelete
  23. @Anthemius: a thought on fundamentals. One of the reasons I don't use them is this. Let's take corn for example. It is grown in many parts of the world. The U.S. grows the most in percentage terms. I find it hard to believe that any one person or organization, no matter how well connected, no many how many farmers they speak to can be as accurate as technical analysis. As the guy I learned from used to say: "it is all in the charts" Those bars show ten of thousands of traders "bets" on what they think is going to happen with real (well, fiat) money.
    As the saying goes, they are putting their "money where their mouth is".

    ReplyDelete
  24. That is the onion man, a comedy mock-news website...

    ReplyDelete
  25. Led - "If you remember, I told Mike I was LONG TERM bullish, and I am"

    I do remember that yes, that's what interested me. I have heard you mentions gaps before, and SGS too. Interesting comments, thanks, I'll let them sink in. I'm all-in phyzz but have some spare cash to try and trade with.

    Am interested too, I have a phd in pattern recognition - and the fib levels seem utterly ridiculous to me, yet they pop up a lot. Is this self-referential or what? Bu the problems when it comes to trading are nothing whatsoever even close to any of that crap LOL! I'm sure I don't need to tell you what I mean....

    I was thinking commodities or an index like the Dow rather than stocks yes, way too many. i'm only making small bets but trying to learn - if you have any good charts now that have any noticable features on that you like, let me know and i'll have a look.

    ReplyDelete
  26. This comment has been removed by the author.

    ReplyDelete
  27. But the problems when it comes to trading are nothing whatsoever even close to any of that crap LOL! I'm sure I don't need to tell you what I mean....

    Botched that, I mean the real problems (at first at least) are the emotional and psychological ones, not the charts.

    ReplyDelete
  28. This comment has been removed by the author.

    ReplyDelete
  29. @Paid in Gold

    That's certainly very kind but I wouldn't impose on you like that (I'm actually in the UK, and I wouldn't want to be responsible for it getting lost, these assholes lose everything, except their watch to tell then when to clock off).

    I actually googled around at the time when that discussion was going on and went to Amazon and i think read a few reviews. What was the name of it again? It was about taking the 52 high and low and stuff wasn't it?

    ReplyDelete
  30. http://www.amazon.com/Trading-Rule-That-Make-Rich/dp/0934380031/ref=sr_1_1?ie=UTF8&qid=1313095507&sr=8-1

    ReplyDelete
  31. @Anthemius: fear & greed are hard to fight. Then again, aren't they the same thing?

    ReplyDelete
  32. @Anthemius

    When SGS V.2 comes out, I'll have scanned the book into PDF. The faster SGS V.2 comes out, the faster the scan will be provided. So save your 35 bucks from Amazon, I got it for the team.

    ReplyDelete
  33. @PaidInGold - that was it yes, thanks. I'll have a google around until SGS V2 arrives.

    @Led

    I see what you mean with AUY, didn't budge with gold getting smacked. Looking at the 30 minute, there was a very brief look around at 1440 on Aug 4th, then it ended up all the way back down at 1271 only a day later, before moving up again.

    And the once place it was gapping a bit was over 1440, between about 1435 and 1475. Seemed to move back a fill a little of this gap but not all of it.

    ReplyDelete
  34. @Anth.

    I tried digital camera picturing one page at a time. It works but trying to read several pages on angled paper, it gives headaches.

    I will have to find a scanner... 60 pages, but the book is physically big!

    ReplyDelete
  35. Thanks SGS, good video!

    I think going forward will get more mark to market systems like the Euro system.

    And your little history tour migth benfit if you point out the crucial difference in exporting manufacturing goods or commodities! For a long long time its been common political economical knowledge that no nation gets rich by exporting commodities and importing manufactured goods. Neo liberal free trade bullshitt economics has hidden this truth for som time but it will soon surface again.

    Anyways thanks for what you do!

    ReplyDelete