Wednesday, September 7, 2011

calm the fuck down

If it breaks this trend then we are going lower, I just bought the trend line bounce. Fuck. RELAX. Amazing how short peoples memories are. Remember on September 20-21 we may get another $5 trillion printed add in the other lemming central banks...RE FUCKING LAX.

55 comments:

  1. I'm scrapping the bottom of my barrel and getting more phyz. I hope it drops to $39 or hell for that matter $5. Buy the dips!!!! I'm a noob and I can read the writing on the wall. Central banks are scrambling and the only way to bring it down is to buy it up.

    ReplyDelete
  2. SGS: Can you answer two questions?

    1. Can you repeat your definition of Red Days?
    2. As I recall, this had to do with the # of contracts ... is there a way for those of us who don't have professional trading platforms to get that same info (Finviz, Stockcharts, Barcharts, YahooFinance, etc)?

    Thanks!

    ReplyDelete
  3. everyone freaks out when we drop a dollar, forgetting were up many dollars longer term... i agree with sgs but instead of saying relax, ill say shut the fuck up and look at a chart.

    ReplyDelete
  4. David: any huge GAP down day such as gold today is a red day. Or any irregular large silver candle, which are many. I bought today because we are trending on a line...see chart. If it breaks that line, I'm out and I'll wait till the $38 on SLV, if not we go higher. Its easy.

    People make trading so fucking hard. In these volatile times keep it simple. And dont bet the farm...yet.

    ReplyDelete
  5. I bought on that trendline as well, IMO it's a low risk entry point. My only concern at this point is short term USD strength and the effect that will have on metals.

    ReplyDelete
  6. buy when you fear it will get worse, sell when you think it will go on forever.

    If you implement this strategy you will win. Chase charts, you will buy tops and sell bottoms.

    ReplyDelete
  7. if anyone needs more reassurance the public are complete idiots, read some comments on any italian austerity protest news stories on one of many mainstream news sites.... mother of god people are stupid. its proof there is no gold bubble.

    ReplyDelete
  8. Finally, some relief. Who would have thought that SLV -1.97% would feel so good?

    Ok, you heard it here first. I call this morning "Silverboarding". If you can't figure it out, then you must've drowned.

    ReplyDelete
  9. Burkino Faso (West Africa) gold mining photos from Riverstone Mining:
    Photo
    Photo
    Photo
    Photo
    Photo
    Photo
    Photo

    ReplyDelete
  10. Just bought two ounces of Au. It feels good!

    ReplyDelete
  11. @Ol'FordTrk,

    What did you get bullion or coins?

    ReplyDelete
  12. SGS I've been reading there is low liquidity in gold and silver paper markets because the big 4 houses have put trading restrictions on their traders.

    ReplyDelete
  13. Buy the dips and send donations right?....developing...

    Very truly yours,

    www.thenewsunit.com

    ReplyDelete
  14. OMG OMG OMG

    oh wait, i just ordered more phyzz. the nice part of down days.

    yummy!

    ReplyDelete
  15. Break the trend line or not this baby is going up. They always launch this kinda raid before a major speech by Obummer or Bernanke. Add Swiss Franc mess to it you'd almost smell the raid in the air. I expect it to stabilize no later than Friday.

    ReplyDelete
  16. www.thedoucheunit.com

    Above post corrected for spelling.

    ReplyDelete
  17. @ SGS

    Good call on SVM. Popped 40% on my calls that I bought on Friday, and I grabbed some shares too, which are up 10% since I bought on Friday.

    Props.

    ReplyDelete
  18. By the way guys, why aren't we bashing WU anymore?

    ReplyDelete
  19. I agree too much concern about the paper ponzi scheme's intrday movements. I used to be completely sucked into the fear/greed of gold/silver movements, but it really doesn't take much more than realizing you are a serf to the the currency masters and that all of this paper games are just that... and illusion.

    This is their system, and people think they are in control somehow b/c the price of gold is heading in a favorable way for them?

    I will spoil the surprise, its gonna get much more volatile, much more ridiculous, and much more drastic as the days go on. All part of the schedule when everything is manipulated in the first place. Talk about the "trickle down effect" in action....

    ReplyDelete
  20. Silver is fighting back decently today, not sure why the metals got hammered so badly. I guess the world will be saved now that Germany can bail out Greece. Gonna sell my silver and gold and buy Greek bonds the yields are sweet. Plus it is backed up by the Euro, what could go wrong?

    ReplyDelete
  21. @robert haha, you could take the profits and buy a white stucco beach home in greece, set up a little shop renting out mopeds and jetskis.

    ReplyDelete
  22. Hrmm I don't see any problem with todays prices. Everytime silver goes down it never goes down below its new support. Its like watching a set of stairs.

    ReplyDelete
  23. SGS, You better have a Mensa section on your new site for all the brainiacs!

    ReplyDelete
  24. Smart money is adding to their corn position today.

    ReplyDelete
  25. WU, you are a tool. Expansions in the oil and gas industry take years, if not decades to produce any real, tangible results. No, do not try it. I am in the Oil and Gas biz and have been probably since before you were a gleam in your pappy's eye.

    Go paddle your pud elsewhere. 0 job growth last month INCLUDES the Oil and Gas Sector, idjit.

    ReplyDelete
  26. Damn.. out of all the gold bullions, I favor the kangaroo the most. Late last night I saw gainesville only allow two kangaroo per purchase. I thought I would wait for more shipments. But now they are "out of stock". Come on people, go hoard your dragons and leave the kangaroo alone, please.

    BTW, it is amazing to see how expensive to buy the gold philharmonics. The preminum is very high. I wonder if people in Europe have bought them out their stock and driving the US inventory higher in cost.

    ReplyDelete
  27. Whats the premium on philharmonics where you buy Coconut? I have a load of Gold Phils and would love to swap them for Maples or Eagles.

    ReplyDelete
  28. MikeS... I primarily buy from Gainesville coins. They have it at 4.5% of spot price.

    ReplyDelete
  29. Even the thieves at Apmex arent that high. They are $60 over for one coin.

    http://www.apmex.com/Category/155/Austrian_Gold_Philharmonics2011__Prior.aspx

    ReplyDelete
  30. SGS@ - I should have listened to you and bought as many Dragons as I could (20 per customer limit from the Perth Mint). A guy over here in Perth is scalping them on ebay and bids are in the high $90's. SHIT!!! I could have bought 20 at $50 each sold them and doubled my money then go and buy bullion at $1 over spot. Could have turned an initial $1000 outlay into about 45 to 50oz of bullion. $20 an oz would have been a nice pickup for the stack.....oh well hindsight is a great thing. Guess I'll keep trying to BTFD instead of BTFP if they occur during the PM trading hours.

    ReplyDelete
  31. @heath9069 there will be opportunities constantly, at least we are learning we can use SGS's commentary on this type of issue as more reliable than not. Every missed opportunity or failure in investing that you learn from is a step in the right direction. If you're walking and talking you're in business again tomorrow.

    ReplyDelete
  32. Bloomberg on SVM : Canadian Police Offered to Find Source of Anonymous Letter

    http://www.bloomberg.com/news/2011-09-07/silvercorp-says-canadian-police-offer-to-find-source-of-fraud-claim-letter.html

    ReplyDelete
  33. Anyone taking bets that the stock market will be up strongly again for O'bambie's speech?

    ReplyDelete
  34. Not I, counting on it yawning myself.

    ReplyDelete
  35. For anyone thinking of getting into SVM, here are some positive things that I see: (1) gap at $13.59 (2) RSI has been going up as SVM was still going down (divergence) (3) traj. line was hit for the third time on 9/2

    ReplyDelete
  36. now we know who is short x million shares ^^ lol

    ReplyDelete
  37. @Malcolm - coins, a French rooster, Canadian Cooks island commemorate, and a 1976 Canadian Olympics commemorate. I have many of the Canadian commemorative.coins, a cheap way to get gold almost always at spot. I have 22k ( 1/2 oz ) and 14k ( 1/4 oz) varieties. I have bullion bars also but now leaning towards coins.

    ReplyDelete
  38. That's the intermediate trendline wedge. If you back up to the post QEII trendline, we can still fall to the 200ma around $37.50 and be just fine. If you wake up to $35 silver one morning in the next few weeks, you'd better hold cause we're going dooown.

    My thought is we bounce at $40, run fast toward $50 then correct back to the long term trendline which will have moved up to $42 or so. This, of course after another 19 margin hikes. Three pokes and your through $50 sometime in around Halloween. Scary days for the Morgue ahead.

    ReplyDelete
  39. @Dr Durden: I'm watching to see how many responses you get...you broke a cardinal rule!!

    ReplyDelete
  40. SGS and friends,

    Not sure if any of you do the TMF thing, but this thread is hilarious... if I do say so myself :-)

    http://caps.fool.com/Blogs/setting-the-record-straight-on/639078#commentsForm

    Hint: Silvercorp Says Canadian Police Offered to Find Source of Anonymous Letter
    http://www.bloomberg.com/news/2011-09-07/silvercorp-says-canadian-police-offer-to-find-source-of-fraud-claim-letter.html

    ReplyDelete
  41. I can see silver hitting north of $50 by 12/31/11, but for it to hit $75, someone has got to light a fire under its ass, and soon. Last Sept.-Dec. saw a rise of app. $11.20. Add that to the current price, that takes it to app. $53. Yes, yes, I know 1 year later our countries financial situation has only gotten worse, but keep in mind, the corrupt S.O.B.'s are getting more desperate & won't care about shorting paper heavier & heavier because the Fed has their back. It is just a theory, and I hope I am wrong.

    ReplyDelete
  42. http://www.financialsense.com/contributors/jim-willie/2011/09/07/false-comparison-to-2008

    False Comparison to 2008

    "Whenever it suits Team Titanic from the increasingly tense helm, more phony comparisons are trotted out in baseless news stories posing as legitimate analysis. The latest propaganda plank is that the current financial climate, worse by the week, resembles 2008 and therefore bodes badly for the Gold & Silver prices. The implicit inference has no basis. In the final months of that fateful 2008 year, when Lehman Brothers served as the flagship going down in icy waters, writing the epitaph that marked the historic death event for the US banking industry, not yet recognized, the precious metal price fell by a huge amount in a liquidity drain amidst a grand crisis. While the current climate does resemble that fateful cardiac arrest and death event, followed by the coroner being paid off to falsify the death certificate (see the FASB accounting rules change enacted in law April 2009), the differences are so profound as to warrant a better description."

    ReplyDelete
  43. Metaphorically Captain Barrak's ship has a fire next to the diesel fuel tanks. His Jobs Speech tomorrow will talk about $300 Billion in tax cuts next year - LOL - WTF? Is he brain dead? The Cap'm has clearly consumed all the Rhum on board. After dumping $Trillions into the banks who used the money to leverage their $Quadrillion in derivatives that's like telling the country that his Exec Team on the Helm will all go down in a few days to piss on the fire - LOL!

    What will PMs do? We all know that the Markets will skyrocket!

    ReplyDelete
  44. Ben Davies - Silver Headed to $65 & Gold to Soar

    http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/9/6_Ben_Davies_-_Silver_Headed_to_$65_%26_Gold_to_Soar.html

    "I really believe that we are nearing the beginning of a third wave higher. We are creating that type of pattern where we are really going to start accelerating higher over the next quarter. Silver will take out the $50 highs and will go pushing into the mid 60’s.”

    Ben Davies has been incredibly accurate in his predictions...

    ReplyDelete
  45. @Jesus..would you please save me some time & tell me when he expects "mid 60's"? Thank you.

    ReplyDelete
  46. Led...

    "where we are really going to start accelerating higher over the next quarter"

    Your guess is as good as mine...

    ReplyDelete
  47. @Jesus: yeah, don't follow the whole wave thing. I'll stick to my tech. analysis and traj. lines followed by gaps & then a minor in occilators.

    ReplyDelete
  48. @Led - maybe Davies is an Elloit Waver... he has been fairly accurate if you've followed his KWN interviews. Long and strong! SVM gave me a nice pop in the past few days. Can't wait for the big short squeeze yet to come :-)

    ReplyDelete
  49. SGS, I picked up a bunch of 1/2 oz Eagles today because of your Red Day mantra. Sent you a donation.

    ReplyDelete
  50. funny quote:
    "remember, if it’s digital or paper, it’s THEIR money not yours. They are kind enough to let you have some, but if you are saving it, they have expiration on the value on the purchasing power."

    LOL

    ReplyDelete
  51. Here is a public link on the TMF thread I mentioned above. Some of you might find this interesting...

    JFC

    ReplyDelete
  52. http://caps.fool.com/Blogs/setting-the-record-straight-on/639078#commentsForm

    ReplyDelete
  53. Hitting a target is one thing. Sticking it down and propelling forward off of it for the long term health of the bull market is another thing. Again, wait till the CME-induced volatility plays into the CME solution of more margin hikes.

    The COMEX cannot go broke or default. It's nonsense. If margins were raised to 100%, that would mean a $1 for $1 physical delivery market. 100% cash, gimme your silver, I don't want your damn paper "price discovery." Sure, the price would have to be like $57,000 per ounce but they'd still be up and running. The cash to settle is endless. The Morgue has more places than you can possibly conceive to hide money. Get on the right side of the trade, kids.

    ReplyDelete