Monday, September 26, 2011

43% in 2.5 days

Anyone still thinking that this is a 'large hedge fund' selling their position at a 30-40% loss is in LA LA land. If there was ANY other commodity even REMOTELY close to this "LIQUIDATION" I would be okay with this and accept it as "I'm wrong." I've never seen anything like this.

The worst that can happen is it goes to zero. I Guess everyone and their family members could pick some up really cheap at zero.

So, I guess the $5 trillion dollars that was printed, the world on the verge of collapse, and everyone ready to ramp up the printing presses means nothing. While China gets rich scooping up all the PM's, North Americans sit around and watch the X factor and get high.

Welcome to the big leagues folks.

In inflation adjusted terms, silver now has a negative number to it. Meaning- someone has to pay YOU to buy it if we were back in 1980.


  1. I have not lost 43% of my silver in the last 2.5 days. I checked this morning and it is all still there. Several packages should arrive this week as well.

  2. Freaking unbelievable!! I was watching last night and saw silver dropped from 30,29,28,27,26!!!!! Never seen anything like this and it turned out it is because Shanghai hiked silver margin by 20%. Why don't they get the hike over with, so everyone has to buy with all cash!!! Some rumor on Turd's blog said that JPM wants to cover their shorts at lower price ($13 is their average) before the Oct 4, CFTC meeting on position limit. Could this be true????

  3. This comment has been removed by the author.

  4. Cmon 13 silver \o/.

    Relax and enjoy the ride!!

  5. "In inflation adjusted terms, silver now has a negative number to it. Meaning- someone has to pay YOU to buy it if we were back in 1980"

    Got to be a contender for THE silver quote of 2011

  6. @Tom H: yes, I saw your boys went down yesterday. Turnovers, turnovers...they get you everytime. As far as where silver is going...

    Ledbedder said...
    There are gaps at $19.802 and $14.825.

    September 26, 2011 5:11 AM

    I only reposted this because they have smashed every reasonable support areas. If something big is coming down the pike, then that gap at $19.802 could be in their sights. I will be watching the formations.

  7. APMEX received a shipment of 100,000 Maples and 1000 x 100 oz Engelhard/JM silver bars this morning, .

  8. I checked all of my Silver and it's still there. Nothing missing except it grew by another couple of Kilos after the "smack-down".

    I would love to think this has stopped all of the people who trade futures and that they leave the market.

    When the Blythe/Dimon Vampires have no more blood to suck they will die.

  9. I think dealers will stop selling phyzz.
    at that point

  10. Well, op twist is quite the inflationary disappointment, but the last several times the metals have been crushed like this something big has been brewing. Perhaps the Euro crisis is much bigger than anybody thinks and this is just the prep to keep people in dollars...

    If this continues, the Comex will eventually be a cash only market - kind of kills the needs to have the institution, right ?

  11. "Gainesville Coins is currently performing routine updates to the website"

    That'll "please" BrotherJohnF. Can't way to hear what he has to say.

  12. "Due to operational difficulties the London Gold Exchange is permanently closed for business."

  13. Reefman, do you work at APMEX? If so, do me a favor and ask Mick, (ext 249) if he has processed my requested address change for my orders.

  14. Just kidding. Don't bug Mick, he is a nice fella. My stack hasn't shrunk by 42%, so why worry?

  15. Fiat currencies ALWAYS fail. Just like empires. Debt is growing exponentially worldwide and headed towards a big, big FAIL. PM's still look pretty good to me.

    "We have now sunk to a depth at which restatement of the obvious is the first duty of intelligent men." George Orwell

  16. geologyguy,

    I don't work for APMEX. But I can view their inventory by reading the JavaScript on their page.

    If you have Google Chrome, then right-click over the text box where you enter in your quantity; then select "Inspect element". You will see the inventory as the last item in that JavaScript call.

  17. 100% gained on NFLX calls since friday.

    Mentioned it last week I was getting bullish short term.

  18. SGS, I see you have no real idea on what is going on here...everytime you see silver drop like a stone you blame it on manipulation...that is pretty darn conveniente dont you think? why did you advise to buy silver right before this collapse? mmmmm maybe you dont give a shit about the countless people in this board who have lost tons of money...maybe all their money in the last move...they are stupid after all right? and you are so freaking intellingent for buying physical...but let me shock you...when you go and trade back your phyz you will still get 40 percent less than last any terms you want to put it...
    so instead of saying ' i told you so' when it rises and then saying ' welcome to the big leagues' when it collapses why dont you make some real forecasts based on macroeconomics? were you not informed of the margin hikes? why would anyone advise to go ..all in...when they are about to raise margins? in other you have any idea what you are doing? im sure there will be no reply to this...

  19. Somebody just bought those 1000 x 100 oz Johnson Mathey bars! Only 958 left.

    We are still at 63,000 ASE 2011.
    104,210 Maples (2011).
    6,057 Philharmonics (2011) left.

  20. Rich: Did I read that right about the London Gold Exchange? PERMANENTLY?!

    ""Due to operational difficulties the London Gold Exchange is permanently closed for business.""


  21. Daniel:

    Please link where I said I was ALL IN. Let me see it. I do recall saying IF Bernanke PRINTS MORE I am ALL IN. He did not.

    Who would be selling their physical? You dont buy physical to sell it now. Physical is insurance.


  22. @Led

    Hey bud. Take a look at trend line support for SI on the weekly interval. Right on the 200 weekly ema @ 23.20. I think between there and around 23.70 could show us a potential support area, then the weekly 150 ma at 22.15, then the 200 weekly ma @ 20.50.

    Back above $30 on strong volume and I'd like to think we're done, but I've never seen a market as fucked with as this one so I have much less confidence in a statement like that.

  23. "SGS, I see you have no real idea on what is going on here...everytime you see silver drop like a stone you blame it on manipulation"

    Do I blame it on the free market? LOL

  24. @ reefman... Check the link. That's what it said when I went there.

  25. "Do I blame it on the free market? LOL"

    It obviously is a free market. Free to be manipulated... just not by us.

    It still pisses me off that they do it, but riding 5 contracts for 3 points on the downdraft somehow calms me down a bit. ;-)

    Later folks. Have to go convert my paper profits to metal.

  26. 10% drop in the market and it shuts down. 10% drop in the competition and they keep it open 24/7 add 30% on top of it. Makes TOTAL fucking sense.

  27. @SGS,

    Thanks for recommending SLV puts a week or so ago. This saved my ass big time! SLV Oct 34 puts bought at 0.47, today at 7.15. Donate when I close out.


  28. Daniel: Are you refering to my "all in" on SVM? Silvercorp! LOL. You donkey. Ya like I can predict an anonymous letter. LOL. I guess you think Zerohedge has no idea what they are talking about either. LOL.

    Thanks Fast Mover above, I guess someone is listening.

  29. @ Daniel
    anyone trading on the advice on one man is a fucking moron and deserves to lose. even if sgs did say to buy, big fucking deal, he would be wrong. just like everyone else.

    you listened to one person and market went the other way? you have nobody to blame but yourself for being a lazy fuck.

  30. This is a gift. Thank you, NWO.

    Bought phyzz last Friday and now today. Thank you, thank you, thank you...

  31. @ marad

    first of all, i did not lose if not 5 percent as i closed my positions, second...of course nobody trades on a one man advice...but from that to say that he deserves to lose there is a shut your trap and learn to speak aint in your bar where you go drink after losing...
    @ sgs
    did ben print or not print? mmm let me see...isnt it clear what ben is doing? delaying the printing because he knows he is out of options and what if ben prints and the rally lasts only a couple of weeks? he is not saying that he will not print! he just wants the full effect to take place...if he prints everytime market cries...
    as for the free market and forex there was a saying...nobody can manipulate the free market for more than a few days...the market always wins...obvioulsy the governments and so on have really made a fool of the free market lately...but should in the long run the market always be untamable? or is silver such a low volume market that he can just be written off with a pen by some lunatic at jpmorgan? if so...not a good for silver being insurance...i prefer gold..
    for the rest...thanks for your reply sgs and you do have a pretty good blog

  32. @ daniel

    see one of the great things about this blog, is that i dont have to speak politely. its why i like it here, because its not filled with ultra sensitive americans who run and hide at the sigh of a nipple or the word fuck. so uh, go away.

  33. Perhaps they have discovered a new Comstock somewhere in Canadia we have to hear about.

  34. @maradv

    first im not american...ultra sensitive ahah what is that toilet paper? and second you feel superior for being tough? and you know a great thing maradv...go fuck yourself and get a fucking life just because you are impotent it doesnt mean i will have to shut up and listen to you are free to say what you free to tell you to fuck off...

  35. Its like manna falling from the sky! The gift that keeps on giving! Pulled the trigger last night when I saw it go to $26 ! Who needs dancing with the stars when you got world spot price! Got so many goodies coming my way in the mail..! Oh lasted I checked my phyzz is still all there, wants more friends to party with.

  36. I would like to give thanks and a recommendation to First Majestic. They were willing to cancel an order I made for some phyzz before the big drop. They ship from their office in Vancouver and were very accomodating. I have an account with them and they showed truly good customer relations. It cost me a small fee to cancel but saved me much more. Their prices are competitive and it has always been a pleasure to deal with them. I have no vested interest in them.

  37. You don't "lose" fiat when holding physical; it's only when you sell it. I would never sell my phyzz today, instead I bought the f**king dip.

    Almost all of my phyzz I bought at $15/oz so even at the $30 level I still have doubled my fiat using Daniel's logic. Doubling in 2 years is WAY better than my company's shitty retirement plan which only has 2% growth. That can't even keep up with inflation so hoarding nickels ($0.05 USD coins) in a tin shed is safer than their shitty plan.

    Now I bought 20oz here, 30oz there at $17, $19, $26, $37, $46, $42, and now $30; but averaged in, today that's still a 1.5X my initial investment 2 years ago. Besides this dip will be short lived. So BUY, BUY, BUY, this week. Even if it's only a couple of ounces, just do it.

  38. Daneil: you just started blogging in September. I was warned about this by SGT....

  39. @ daniel

    you should really learn to speak politely, as you suggested after all...