Wednesday, August 24, 2011

Time to take a closer look at Gold and Silver

Over at TFV Blog, you can gauge a different perspective of what may happen.

"This brings us to Gold which is, technically speaking, the safest currency. However the rise in gold in the last 60 days has been so steep that even I, a staunch gold bull admits that we will see a significant correction in the yellow metal before we continue the upward movement. To say one expects gold to retreat does not make one a gold bear. However, take a look at the chart of gold below and come to the realization that nothing goes straight up despite what many perma-bulls will tell you. Gold might get to $2,000, $2,500 or $5,000 an ounce….who knows… but it will not get there tomorrow or the day after. The last parabolic move we saw came at the expense of silver and we all recall what happened last May. Silver was off significantly today and what failed to inspire me in the recent gold rally was that silver did not follow the lead as Gold continued to make new highs.
Click here to see the rest...

61 comments:

  1. I have to admit, the article makes a lot of sense. I bought on the dip today, looks like I'll be buying some more on the way down over the next few days. I suppose friday will be D-day when the Bernank opens his yap and spews out more financial diarrhoea. Should be interesting for the punters.

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  2. I going all in after the margin hike that we all know is coming.

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  3. The big question is...are we at the bottom yet, and will PMs spike after the Jackson Hole meeting?

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  4. Friday should be an interesting day for us here

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  5. "I still hold much much more but remember … why are you buying silver if at some point you aren’t going to sell it and use the money to feed and provide for your family?"

    This is why my coin shop is full of silver right now and why so many people will starve to death in the coming years. Fuck them. More phyzz available for me.

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  6. Yeah, gold is a bit overbought on a monthly chart, I predicted a drop and was wrong. That elliot wave chart within the article shows what a bunch of worthless shills Prechter and his crew are. They consider gold and silver to be commodities like corn or bone meal and NOT money. Well, just what is money then? Federal Reserve Notes? Don't make me fucking laugh. It's currency, and a bad one at that. Slap a chart of apple stock next to gold or silver if you want to see a bubble. Fucking i-tunes. I can't believe how stupid people are.

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  7. SGS, do you think this massive drop in PM's is orchestrated due to a pending announcement of QE3?

    Or is this one last attempt to crush PM's? Maybe Benny Boy is NOT gonna announce QE3, and they are double-crushing metals this week.

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  8. always goes down faster than up, Chappy said buy big on thursday ... we will see ... hopefully last big bad day today

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  9. Islandstyle,

    There will not be a QE3 for at least 3 months: no politics for it, they need prices to go down further, QE2 was a failure, the will let the market sink, they need to wait until closer to election, 1st of the year at the latest. The Fed needs to be seen a heroes as apposed to villains. They will just roll over maturing treasure and buy longer term ones!

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  10. SGS, I'm getting this phishing warning every time I try to enter your site. Just last few hours or so.
    http://i53.tinypic.com/243mbzn.jpg

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  11. @ Malcolm

    Thanks for replying. Can you give me a quick rundown of how treasuries roll over?

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  12. Unbelievable! It's like we are powerless to do anything but sit here and take it up the ass time after time after time.

    This will never end until the revolution comes. But the sheeple won't do it until they realize that the entire system is against them, not for them. I think the majority of people still believe that the Fed is trying to help them, not rob them blind.

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  13. And can someone tell me WHY China would raise margins?? WTF!?!?!

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  14. man look at all those calls going underwater. what a slaughter. laughing at the paper.

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  15. I'm more curious about the CAD/USD exchange for Friday. I have some US cash and want to get out (especially since my original intention was to get take advantage of cheap goods in the US). SGS or anyone else, you think we will see the CAD dollar weakening on Friday?

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  16. @ IslandStyle, a lot of people were excited that the Hong Kong exchange was getting up and running because it may have allowed for some true price discovery. But, it now seems they are complicit in the fraud, and wouldn't you know, owned by the Rothchilds. In my opinion, the Hong Kong exchange was opened to provide cover for Comex. Everybody's plundering, so it must not be fraud because everyone is doing it.

    http://dont-tread-on.me/the-rothschilds-and-the-hong-kong-mercantile-exchange/

    I just went and checked, I still have my Phyzz.

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  17. whats up with the "phishing scam" warning notice when visiting SGS on chrome now???

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  18. What use is having phyzz if it's permanently capped under 50$? The cartel have shown that they can fix it at whatever price they want. We had a great run from 17 to the high thirties and since then it has gone nowhere. It's been almost 4 months since the May raid and is still $10 off the top. This is getting boring.

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  19. @SolidGoldBubble

    You've understood nothing.

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  20. I just got off the phone with Gainesville. I have been watching everyday for the Year of the Dragon coins because their site has said coming soon for a while now. Today they no longer said coming soon and just said out of stock. So I called. They said they are coming at the end of the month. I thought that might have sold out all in one morning because everyone was BTFD, but the guy told me it has been slow there today and thinks a lot of people are sitting on the sidelines.

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  21. @SolidGold Bubble, do you want to sell me your Phyzz?

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  22. Johan: I keep the faith most days but am sick of these raids. Weeks or months of gains get wiped out in hours or even minutes. It's demoralising.
    On an intellectual level I understand that we will win in the end and in my opinion $500/oz is a very conservative target, but days like this make me want to take my profits and spend it all on hookers and blow.

    I guess my point is that during April I thought this was It - $500/oz was just around the corner. Now it looks as though that is years away.

    Those who celebrate these days as good buying opps obviously enjoy a higher standard of living than me. Not everyone who reads this site has a nice house and thousands and thousands of ounces and a trading account. I'm sure I'm not the only one praying for this thing to explode ASAP.

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  23. @Tom H. I believe HKME would help the situation. Especially I saw the closing price in HKME is always higher than the CME. One more thing, HKME has position limits while CFTC has none on silver.

    One more thing, Chinese want to break the monopoly of US metal exchanges. Very much like Chinese has their own rating agencies. I would think that the Chinese government don't want to the image of the HKME is tainted or tarnish as the infancy stage. Their goal is to have Shanghai and HK to replace New York and Chicago. The trades in the HKME is still low. I doubt they would play the dirty game this early.

    Again, Chinese want to break the financial monopoly played by the US cartel. They are not in it for the little fiat currencies now.

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  24. I do just love it when all the "experts" prattle on about their charts and how Gold and Silver are going to do this and that because the moving averages, candle-sticks etc. etc.

    Then the Fed and the JP Morgue just come along and whack down the price.

    When Silver gets to $500 send me a text message and wake me up, especially Chapman.

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  25. getting phising warning on chrome also. Wonder if Tptb is working with google, to stop the truth

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  26. IMO we've seen the large speculators play the silver in May and now Gold in Aug. Gold bearers keep in mind that we've only given back ~8% of the 25% gain since July, and the underlying fundamentals of PMs is still in tack. Nothing goes up in a straight line. PMs will never fall to zero! We are all little players hoping for the big guys to take down the game, but they won't b/c the game is making them wealthy. Be patient, and remember nothing in the underlying fundamentals have changed. The global economy is still going to hell in a hand basket. We are all waiting for the black swans but the time isn't ripe yet. Next hurdles are options expiry and Jackson Hole. The roller coaster ride aint over folks!

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  27. Would be interested to know, how many people are selling back to Monex or Apmex. I suspect nobody, has dumped the metal. As long as the paper exists this will continue.

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  28. Dear Friends on SGS,

    Please read this article from Graham Summers. SGS has referenced Graham before because he has a good track record. Summers isn't the only one saying QE3 is not likely, but this is the best summary of why QE3 won't be unleashed...yet.

    http://gainspainscapital.com/?p=720

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  29. This comment has been removed by the author.

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  30. September is an up month. August is a down month historically. One of 4. The other being june. It appears to be following the chart pretty well.


    http://www.smallcapinvestor.com/article/the-best-time-to-buy-silver/23549

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  31. What a blood bath. JPM/SLV ratio getting close again, wow!
    Short term, nobody has a clue what is going to happen from 1 day to the next in these markets.
    I have decided not to even bother, its too stressful. At least I am still in the green, but wow, these are epic day to day movements if you are a trader and are lucky!

    Remember everybody, in 2013-14 we will all be happy!

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  32. The phishing warning I think pertains to one of the advertisers linked on this site, not the site itself. Nothing to worry about.

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  33. germany wants gold from greece as collateral. this might be the beginning of a reason for the U.S. to confiscate down the road. "we need the gold to save the country!"i can hear obama saying it now. "it's a matter of everyones national security."and it would go directly to the imf.

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  34. All the people wanting to jump ship. Can I buy your silver at spot price. A per the previous article I linked. The next month should be big. The best month for silver is September. But yeah there is no way to win when silver has been mostly up in a down month.

    http://img.bfpublishing.com/SCI718113.png

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  35. Thank you for this manipulation JPM! I love Blythe today.

    I'm buying the fking dip and getting more phyzz for my fiat.

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  36. WTF?! How can this market be going up. The BB sure as shit ain't gonna QE3 on Friday. Friday is gonna be a bloodbath. Metals are taking it in the ass now, stocks next week.

    Unreal. I have never been this far underwater on my portfolio in 10 years. These excellent companies are being valued like dogshit. What a corrupt system.

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  37. Yeah. Thanks to Ledbedder, I knew the raid was coming Tuesday, and figured probably around lunchtime (it started at 11:30 promptly). I figured 43.50 was a top number. Punched it in my calculator, and had my sell limit set for my PSLV shares at 20.25 being greedy. It sat at 20.24 and 20.23 for quite awhile before the raid started. DAMN. Lost my conviction and $600 when I had to go ahead and sell off later. Lesson learned. But looking at the price now, I don't feel so bad. Not sure if I should try to catch the low late Thursday or wait till JH news Friday to pounce back in.

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  38. IslandStyle: Bullshit isn't it. I just did the only logical thing you can do in this situation - bought a tube of Phillys. Go buy a tube of Phillies. Now. Fuck these banksters. Buy some silver. Then go buy some more. Fuck them.

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  39. AC, in Canada sock puppet Harper would take 10 minutes on national TV and blame the gold confiscation on world economic collapse, reiterating that Canada's economy is in perfect shape after his mega billion spending spree. While the ding dong buys leaky subs from the UK, sent our troops to Afghanistan to protect the Opium trade, blows $40B in F35 raptors to blow up sovereign countries like Libya, and he claws back EI over payments from the destitute unemployed, and holds zero taxes for large corporations.

    Here's my message to Harper - Over Cold My Dead Body ewe POS!

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  40. some make this fucking bleeding STOP! Down about 2k in my options account and refuse to look at my miners!

    Can they do this 4 days in a row? Maybe tomorrow???? But Friday too!

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  41. @malcolm

    The miners just piss me off. Everyone of these guys is having record net earnings after taxes and EPS as well as record production with record high silver prices. But the lemmings have been made so squeamish after the short selling last week. I sold off the last of my miners today, big and small. Just too volatile until the dust settles Friday.

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  42. Some may not agree with my trading philosophy but I just hold the miner like my metal, an trade gold, silver and miner options and some commodities. Its just easier, I hate jumping in and out of stocks.

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  43. I will buy the dip, and get some nice silver eagles to boot.

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  44. Lol.

    Bought a ton at $44.

    Hookers are just an oz of silver so win for me, I guess?

    Chin up, gentlemen. Time to let the wrecking balls hang low.

    Let's prep to pick up puts on the rally. We are not wrong.

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  45. I am a novice, so appreciate other opinions on this article. Please take note of #21-#23..."you don't predict your way out of the chair, you endure your way out of it." Maybe he's just saying what I want to hear. http://news.goldseek.com/GoldSeek/1312297736.php

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  46. @Thorfinnr: Thank you for the nice compliment.

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  47. September is silvers best month. Remember this people.

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  48. How does no QE3 effect PMs? The market tanks after the Bernakster speak, that's easy, what next?

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  49. "September has by far been the best performing month for the precious metal, with average gains of 4 percent over the sample period above. But, what is most impressive is the percent of time positive. Over 90 percent, or 30 out of 34 years, silver has had a positive return in September. That is a staggering statistic and one that should not be ignored.

    So, if the seasonal winds live up to their historical billing we could see a slight pullback in August, which could afford the next big buying opportunity for silver."

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  50. @malcolm

    QE3 means printing money which means silver goes up because the government is printing money. There may be a temporary drop as morons sell their silver to buy stocks.

    No QE3. Means silver goes up as people look at gold and silver as the market becomes the swinging doom hammer destroying everyone's personal wealth.

    Either way I think silver goes up in the long run. I think right now the issue is these people are expecting Bernanke to have some sort of miracle solution. Which is why they are buying stocks and selling their hopes and dreams.

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  51. Adam,

    I don't know if you read Graham all the time but what a textbook call he made on Aug 16 outlining the bearish trend on the S&P and RUT. It looks to be in a dead cat bounce.

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  52. The next 36 hours could be very interesting & very telling. I don't know if they have the nerve to sell paper so hard again tomorrow. SIU11 got as low as $39.09 before a nice bounce. Disgustingly, there is a gap at $35.634. Not willing to call that, as I am first looking for the traj. line to get hit and will re-evaluate if it happens. Next, I took the intraday low of 32.35 on 5/12 and the intraday high of 44.275 on 8/23. Its 50% Fib is 38.31. I also took the intraday low of 33.47 on 7/1 as a secondary look (obviously, still using 44.275 as the high). That 50% Fib is 38.87. Which those numbers come inline with my traj. line, so look for these level from here until The Bernak's speech. Traj. line is drawn connecting intraday low of 7/12 to low on 8/9.

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  53. LOLOLOLOLOLOLOLOLOLOLOLOLOL......Tit for tat, lucky tit or tat?

    Bank Of America Just Downgraded Goldman, Morgan Stanley, Citigroup, and JPMorgan

    Read more: http://www.businessinsider.com/bank-of-america-slashes-jpmorgans-eps-by-25-percent-2011-8#ixzz1Vz0jYf53

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  54. This counter trend "rally" in the stock markets are a dead cat bounce, you can take that to the bank. Actually, what you can take to the bank is the fiat you'll make by buying puts on ESZ11 or any pathetic stock.

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  55. im sorry but yall are out of yals god damn minds with most of the stuff on these comments. Quit taking every thing as fact. Yall are just as bad as a sheeple. sGS encourages this type of behavior

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  56. yalls heads are completely in the gutter at all times to where its impossible to not obsess over this shit all day get a fucking life

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  57. F them all. Just purchased another 2x10 ounce bars from APMEX. I could care less about what paper is trading for.
    Between the margin hike and JP Morg & BOE pushing down the price so that they can purchase those 200tons owed to Hugo Chavez that they don't have in their vaults, I will continue to stack the phyzz.
    Got weak hands? Go put your money in Netflix, Apple or a mutual fund. This is the big time gents.

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  58. Nig4life, looks like i needa step back into your life and be daddy again, huh?

    Tell mom to get off that meth, and I'll give it another thought.

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  59. The upside for gold and silver will knock your socks off

    Read More............

    The Silver Chronicle !!!!!!!!!!!

    http://www.thesilverchronicle.com

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