Thursday, August 18, 2011

Sprott selling Gold, buying silver now

Like I said I was doing about a week ago, billionaire Sprott is copying me,,,lol I'm kidding (not really). Our boy Kid Dynamite gets a mention in there too.

"On Wednesday, Mr. Sprott said his comment about silver does not mean he is abandoning gold altogether. “Anything I said about it being the resource of the last decade was not to suggest that it wasn’t going to do well this decade,” he said. “It’s just I think silver will do better.”
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41 comments:

  1. SGS awesome news flow lately, too bad we don't have Paypal here in europe otherwise i would have sent you some of my worthless Fiat.

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  2. schiffs been hittin the tanning salon or what?

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  3. Forbes and HSBC finally listening to Schiff, but why was Russia halted?

    Morgan Stanley Affirms Forbes Recession Call Two Days Ago. This morning Moran Stanley triggered a sharp selloff in stocks here and Europe on their prediction of a recession. This is a Wall Street affirmation of my blog (Streettalk) two days ago “There’s A Recession Coming According To The Data.” The Dow Jones Industrial Average was down 500 points at the opening, breaking below 11,000 as Morgan Stanley ‘s prediction intensified the fear factor for extremely nervous investors. Again, in face of sharp weakness in the equity market, gold rose to a new record high of $1821 an ounce, and loooks poiiused to make further gains. Speculation in silver has picked up as a folloow-trade to gold.

    Today, there was more unpleasant data suggesting a downturn in the US just as Europe has slowed even worse. The Philadelphia Factory Order Index, which is widely followed as a leading indicator, came in at minus 30.7. At the same time July existing home sales figures showed a fall of 3.5%.

    http://www.forbes.com/sites/robertlenzner/2011/08/18/morgan-stanley-affirms-forbes-recession-call-two-days-ago/?partner=yahootix

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  4. Hmmmm... Silver/Gold ratio must be looking yummy!

    Anyone see what happened to Oil this morning - down 9% to $83.25US. I bought some 2X Bull (HOU)

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  5. @felix: although I believe oil is going will be higher at the end of the year, you may have bought just a smidge too early. I see CLZ11 going to 80.61 before the turn around we both are looking for.

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  6. 1000 pardons... It was HOU that was down 9%. Means crude down 4.5%

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  7. A very simple lesson on gaps: pull up ESU11. Look at the close on 8/5 at 1197.75. Look at the high on 8/8 at 1189. GAP. Now, it rallied to close the gap on 8/15. Even though it was only a little more than 2+ trading days, once it closed the gap, it basically did nothing. Those 2+ trading days were the days those m'fers were distributing to the CNBC watchers. Once they sold what they thought they could get away with...BAM! (that would be today). Always look for gaps, and you can predict (most of the time) where the market---don't care what it is-is going to come back to, even if it is just for a day.

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  8. METALS BEATS PAPER


    j.w.says

    Mining stocks are not keeping pace with the bullion metal. The ultimate problem is paper securities and the trust held in them. Persistent stories about well supplied hedge funds shorting mining stocks, stories of naked shorting of small mining stocks (see Alpha Group), and other sponsored spread trades to support bullion metal over the mining stocks have all contributed to the decline in shares. The distrust in all things paper, as in financial securities, at a time when trust in sovereign debt is on the wane, when financial sector insolvency is argued, when bond fraud has gone unprosecuted, has created a hostile climate for investments. The shortage of credit and capital to anything except USTreasury debt has exacerbated the condition. The HUI index of mining stocks has not done well versus the basic precious metal, the gold bullion, since the spring months. The threat of USEconomic recession will only make the situation worse, certain to lead to more whacks to the equity markets. Gold bullion has no counter-party risk, no paper dependence. Stay clear of the fraudulent custodians and their GLD & SLV fraud-strewn funds for lazy investors who do no research. They will be separated from their metal claims, handed cash in redemption, and sent away. One point of fraud proof is that GLD & SLV have a discount to the metal, while legitimate funds like the Sprott Trust and Central Exchange Fund include a premium price to the metal. That is because the big cartel banks, as custodians, are shorting shares of GLD & SLV, sending the metal inventory to the COMEX to satisfy delivery needs.

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  10. correct me if I'm wrong, SGS, but if Sprott is making this (huge) move, he sees something coming reeeeeeal soon.... This guy is no idiot and if he is positioning himself for a bump, we all may want to heed his play?

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  11. @goboy9: I wouldn't say real soon, as he is Godzilla walking over Japan. He has to do it early, and hope noone is watching. It is bullish all the same.

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  12. How many think Schiff wants to bang the anchor woman?

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  13. @Ledbedder - stoopidity alert! No disrespect intended.

    I looked up ESU11 - E-Mini S&P 500 Sept11. Here's the stoopid newbie question .. what the frig does this have to do with oil?

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  14. Where is gold going to have a short term peak? Maybe very soon, and I'll give you this: for anyone that cannot go to a website & just draw it, print out a chart of GCZ11. Good. Now, starting on the intraday high on 5/2, draw a straight line to the intraday high on 8/11. Now, look at today's intraday high. Came very close to hitting that line, didn't it? Once it hits that line, I look for a pause. How long? I don't know, but the reason for looking at it is so you don't add new positions there. Once you train your eyes to see this, you'll be amazed. I could spend the rest of the afternoon giving you example after example of this & it would blow your mind. Good luck all, and I hope this helps.
    It is a beautiful day here in PA, so I am going to enjoy it now.

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  15. Adam, how many think the anchorwoman wants to bang the guy with all the gold?

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  16. Anyone hear about this new canadian funds? Spread ETF.Something about playing the spread between silver and gold?

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  17. I don't believe I said it had anything to do with oil. There is a gap down there (oil) that will need to be filled before the true swing up. If it seemed I connected oil with ESU11, then I typed it or worded it incorrectly.

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  18. Thanx Ledbedder, and sorry, I am easily confused.

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  19. Lost in all of today's noise is whether or not B of E is shrink wrapping a bunch of pallets of gold to send to Hugo.

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  20. @ tom h

    they will be sending the 7th fleet before they give him any gold...

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  21. "Now, the global currency that has acted as the world's de facto reserve currency is the US dollar. But that is changing. The dollar is dying. In fact, we think it is already dead... we just haven't had the funeral yet. But wait... what Chavez has just done is fire a major shot over the bow of the Federal Reserve and we think this could possibly be the death blow to the US dollar. Here's why..."

    http://www.thedailybell.com/2814/Chavez-Launchs-War-Against-US-Dollar

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  22. http://www.thestatecolumn.com/articles/ron-paul-clobbers-rick-perry-in-latest-poll/

    Go vote for RP

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  23. Tom H...

    Oh, yeah! She loves the man with the gold.

    http://www.youtube.com/watch?v=_qO66Rmi1Mw&feature=relmfu

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  24. Adam, where do you find this shit? LMAO

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  25. I'll bet you didn't know that the invasion of Libya forces 40,000 Chinese oil workers home in a hurry and cutting of an important oil source. It appears Amerika imperialism has pissed off Amerika's best bond customer and the Sino-Amerika relations are about as solid/worthy as Obama's Nobel peace prize. 2 Chinese war ships in the Mediterranean, the destroyer Guangzhou and frigate Chaohu http://www.defensenews.com/story.php?i=4739721

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  26. alright sgs...question...my td accnt shows volume of 1,900 shares ...marketwatch charts show 1,500 shares...of tinka ,is this combined or a varience or a total....and how can this be..any education will be appreciated

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  27. ledbedder i am having a little difficulty understanding your gap-fill concept could you post a link to a specific picture of it on a chart

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  28. http://classic.tradingcharts.com/chart/ES/91

    8/5 closed at 1197.75
    8/8 intraday high of 1189

    No trading between 1197.74 and 1189.1, thus a "gap". A gap is simply a place where no trading has occured.

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  29. Palladium being treated like the ugly sister!

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  30. Freddie: I have over 60,000 today, no idea what you are looking at. Maybe the US side?

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  31. I just receive my first gold Maple today - beautiful! Ironically, the date on the coin is 1984 - LOL aint that the truth!

    The quote of the day: """European Bank Fears Slam U.S. Market: Don’t Hit Panic Button Says Strategist""". Why? Because he's got a $Billion in equities and he doesn't want lose his job and bonus!

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  32. @goboy9, if I may.
    Sprott & Embry have been saying Silver is the investment of this decade. Gold has had a great run in the past month and silver is the laggard. I think he sees a Silver move out doing Gold for the short term and he's leveraging his gold - why not? Clearly gold is in hot demand by central banks globally and will continue as the markets crash and printing sky rockets. Silver is a time bomb waiting for a reason to explode and Sprott knows this!

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  33. Do you guys know what the pirate paid to have his ears pierced...A buck an ear!

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  34. @Adam: that is fun funny stuff

    @IAmPhoenix: did you understand the gap response?

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  35. Here's some Ron Paul media blockout clips from the Jon Stewart Show.... there is some fuckin bullshit goin on in the MSM... has been for some time, but never so damn obvious.

    For the Ron Paul lovers...

    http://www.youtube.com/watch?v=9dvoQfQ5rOI&feature=feedu

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  36. Ben Davies has done the same. Not sure what these guys are seeing but the trend has been for gold's outperformance. Reminds me of earlier in the year when silver was outperforming and everyone was gnashing their teeth. Although at that time we didn't have the titans shifting silver into gold expecting gold to catch up. I think you gotta have some gold as well as silver here because this is clearly a "risk off" environment.

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  37. @Tom H and @Ledbedder

    I love finding dumb ass shit like that on You Tube. I need a good laugh today. I just found out I didn't get IT directors position I interviewed for last week. Would have paid $1,000 (net) more fiat per month and I would have purchased more silver with it. Oh, well. At least I still have a dead end job...but that's not good enough for me.

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