Anyone thinking this is a natural sell off can go fuck themselves. 11% in 1 trading day with another 10% move overnight is not normal. The Morgue is in worse shape than I thought. Everyday in the weeee hours of 3 am, we get smoked. Also note that the CFTC just threw in the towel too giving them immunity to manipulate.
Welcome to America where only the honest, hard working truth seekers get FUCKED.
My message to Blythe would be: Please hammer this mother fucker all the way to $2/oz, where I will literally become the biggest physical owner on earth at that point. You keep your paper game, I'll keep my phyzz.
If anyone is looking for bullion right now go to www.silvergoldbull.com and use discount code sgb-sgs, they are in Canada so dont know how good the US shipping will be but give it a try.
Welcome to the big leagues....again.
sgs your new site is going to be coming online at a fucked up time.
ReplyDeleteThere is a gap on the weekly chart at $29.992. Guess that makes it more bearish than WU.
ReplyDelete@CWN: why? You, me & WU have been looking for a down draft. My levels of support got crushed, but at least we were telling folks that we are in a down leg, which, they could have used to hold off in buying the PHYZZ.
ReplyDeleteI'm happy, because i will have MORE Time to buy silver and gold than before, I am young dont have much money, but I will be able to slowly increase my income with equipment purchases instead of phyzz buying over the next few months and invest the income into gold and silver to protect my family. it could be 9-12 months before we see last months price levels, so thats very fortuitous for phyzz buyers who don't have large savings accounts like me
ReplyDeleteI'm just waiting now to buy another 3 Kilos. Lower. Lower. Lower.
ReplyDeleteThen maybe I'll get 4 Kilos.
The January sales in September. Great stuff.
Only manipulation? IDK, twist isn't really money printing. Europe's the biggie though...
ReplyDeleteBefore anyone calls me out I will admit I was wrong about the SI floor. Jamie getting his wish big time this morning with the help of the Fed and their unlimited pocketbook.
ReplyDeleteAt this stage of the game, I truly don't want the price of gold and silver to ever go lower. It is not about the BTFD. With governments so much in debt, they could possibly force purchases of physical PM from civilians. The government may "buy" it back from people at the artificial low prices.
ReplyDeleteNot only you lost the Physical, you lost it at a low fiat price.
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ReplyDeletecoconut, in order for the government to buy your phyzz at a ridiculously low price, you would have to comply.
ReplyDeleteWho knows?
ReplyDeleteSome say it will be months before silver prices recover, but what if it only takes a few days. I'm just a small player here compared to some of you, but I'm going to buy some phyzz today, and just add it to the pile. As the bears say, don't worry about the price, just buy the fu@#ing phyzz.
According to Harvey's info, the commercial banks bought 1288 longs last week when silver was above 40. Please enlighten me, but wouldn't that mean that silver has to come up above 40 again sometime in the near future for them to cash in on that. What would be their time frame? I understand silver is going to be way down in the short term, but those on here saying it won't recover its price for 12 months sound overly pessimistic.
ReplyDeleteI'm beginning to Love Blythe ! SWEET ! lol I have some money coming in this afternoon, and My Dad is breaking out his check book again today ! Merry Christmas !
ReplyDeletethofinnr the big banks don't control everything in one big conspiracy all the time, the market they are most apparent in manipulation is the silver market, and this is not a 100% controlled market
ReplyDeletesometimes, often times considering how bankrupt the banks are, they make bad trades, they are not good traders, even goldman and jp are bad traders they are just good lobbyists
It is a miracle of God that you are still able to trade FRN's for real money at 50, 40, 30, 20, or 5. This bullshit has only strengthened my resolve that this fucker is going to blow up soon, and all of those with phyzz will win the day. I see nothing that makes me question whether or not I should switch back to fake money from real money. If anything, this only gives us a chance to bring more phyzz on the rocket ride.
ReplyDeleteDesperate men do desperate things. I ask, what is the greater sign of desperation here: That you buy and hold real money that has been money for 5000 years? Or, that you have to cause mass financial destruction, illegally, in plain sight, in order to keep your nefarious derivative time bomb from exploding for another month or two?
I really took to heart what SRSRocco said yesterday about enjoying your time. We only have so many days on this earth. Your phyzz purchases, regardless of price, have bought you the freedom to enjoy each day because your wealth is in your hands. It may seem that the banker criminals are winning, but you can have fun and smile today if you let yourself. Order a monster box, or if you are like me, a mint tube, and go enjoy the day, while the bankers keep running from that giant boulder that is rolling ever after them and is going to crush them eventually, and probably sooner than later.
Those fuckers brought me a really good sale today. My phyzz is ordered, and I am going to have a great day today with my kids. Baseball, football, soccer, riding their little quads around the yard, whatever we do, I will smiling from ear to ear.
Nick over at SGB is a good guy. Me and my boys deal with him.
ReplyDeleteSGS, thanks for the hook-up; I love coupons!
Margins were raised again. Go figure, prices go down and they raise not lower...
ReplyDeleteThey raise when prices go down, they raise when they go up. If this is not manipulation don`t know what is. Perhaps China wants to buy some cheap silver. ;)
http://www.reuters.com/article/2011/09/23/china-silver-idUSL3E7KN19Y20110923
Don't know if any posters here follow FOFOA, but he has said all along that the gold paper price will go to zero through their manipulations, and nobody will know what the real physical price is until later, when it emeges at 100 times the old paper price highs. This due to fact that 100-1 leverage in gold (and silver) imparts the fake paper price to phyzz. This allows us to buy at deeply discounted prices, especially today.
ReplyDeleteTom H Well Said ! How long can they keep this up,, Who the hell knows.. But keep putting it on Sale ! Hasn't changed my view one Damn Bit ! We know that it is a Finite Substance !
ReplyDeleteJust fell outta bed
ReplyDeletemade myself a cappuccino
sat on the couch
and turned on my laptop...
fk me gently! $32.5?!
shuda bot more silver bear!
PLEASE BLYTHE CAN YOU MAKE IT GO TO ZERO,or maybe i can trade some world of warcraft gold/silver/for PHYZZ.For some reason I think the goal is to make it the same price as JPM stock. IF they drop it really low will i actually be able to buy it, or will it be impossible.
ReplyDeleteIn other news... a recent wikileaks cable released this month has China accusing US and EU of manipulating gold prices. Priceless! China just turned into a "conspiracy nut" I guess.
ReplyDeletehttp://cables.mrkva.eu/cable.php?id=204405
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ReplyDelete@ledbedder - I wanna tell you to stop looking at the charts (you are scaring everyone!) However, it is better to know than not!
ReplyDeleteThink I'll get outta my silver bear this am.
sold HZD @ $6.51. good enough.
ReplyDeleteNow I am looking to buy HZU.
ReplyDeletebot 1st position HZU @ $7.78
ReplyDeleteAs General Maximus Decimus Meridius said in Gladiator, 'Hold the Line'....
ReplyDelete@ledbedder - ok, i know what I said earlier however, we need you charting prowess ... what # do we have to beat before we can take some comfort that the price Ag is going back up?
ReplyDeleteWhat's your address Mike? I'll take it for spot, or maybe free since you only believe gold has value (silver, guns, bullets, & beans are worthless).
ReplyDeleteI appreciate your analysis but these types of gloating posts only come on red bloodbath days. I'm sure you won't visit later in the Fall when we eclipse $50 and head toward $75.
Don't get too eager gentlemen. It ain't over till the lady with the big feet sings.
ReplyDeleteI like the fact that: (1) bounced more than a dollar off the lows (2) RSI is basically in oversold territory.
ReplyDeleteIs this the point I can get back in silver or can it fall further technically?
ReplyDelete@felix: that is for weekend analysis
ReplyDelete@ledbedder - thanx buddy!
ReplyDelete@Morte: it can still far more. Time will tell.
ReplyDeleteYeah Mike, where are you? I'm buying...
ReplyDeleteThe resistance is around 32.50 where we bounced, below that there is $30, then $27 and $25. I have a hard time believing we were able to test these levels this morning. I wouldn't be surprised if this was the bottom, but maybe it could hit $30. Anything in the 20's is a real gift.
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ReplyDeleteFor those watching gold, (I'm always looking at COMEX futures for gold/silver), there's a gap fill at 1673. On the weekly chart, every major retracement since the beginning of 2009 has gone to the 30wma except for the last one which held at the 20 weekly ema. Today the 20 weekly ema is at 1671.50. The 30 weekly ema is at 1584.5. (If you go to www.stockcharts.com you can create charts yourself for free that will show this. I'd post the chart if I could. Maybe SGS's new site will allow for chart posting).
ReplyDeleteAs for silver, on the weekly interval chart, the 50ma has been solid support since mid-2009. We're currently under that by a dollar. If we get a bounce back above 34.32 today we may be turning around. If we continue lower, the 20ema on the monthly interval has been the champion for support. It's currently at 30.43.
There are other trend line and Fibonacci numbers in between that Led might cover, but these MA's I mentioned are pretty easy, very solid levels to watch from the big picture perspective. I have some other targets I'll point out if we go lower if I have time.
Hang in there guys. Best to keep your eyes on the big picture if you're nervous. Nothing has changed in the economic climate to devalue your phyzz, and you have to know that the powers that be are going to do everything they can to try and shake it from you. This is just a tremendous buy op for the late comers and those looking to add to their piles more cheaply, imo.
Rich
Sept 23 (Reuters) - Silvercorp Metals said on Friday it filed a lawsuit in New York against short-sellers who have issued reports accusing the China-focused miner of fraud.
ReplyDeleteToronto-listed Silvercorp filed the suit in New York County Supreme Court. It charged Chinastockwatch.com, Jerry Katz, Alfredlittle.com, Alfred Little, Simon Moore and several "John Doe" defendants with spreading "false, defamatory and fraudulent" information about the company on the Internet and in letters.
Silvercorp said the defendants had attempted to drive down its stock price in order to make their short positions in the company's stock more profitable.
http://af.reuters.com/article/metalsNews/idAFS1E78M0E420110923
Stop being a bunch of fucking pussies. Go sell all your shit and hold god damned paper I-OWE-YOUs if you're that caught up in watching these "market" numbers. Go buy some baseball cards for investment purposes. Hey get a fucking house, it's a GREAT TIME TO BUY. FOFOA/Mike/whatever you're going by right now, if you really wanted your silver gone you'd have put it on eBay or Craigslist.
ReplyDeleteChumps, see you in another 10 years when we're back on top of this: http://i.imgur.com/wBMgi.jpg.
SGS- I hate this sh*t!
ReplyDeleteI hate that Crimex still has the power to wag the dog. Financially speaking the fiat currencies are dying around the world which should be driving money into the PMs. YET - because of SLV and GLD, can you say paper, these lying, cock-sucking, thieves are able to destroy the price of silver in less than 48 hours while the US government's CFTC stands by and watches. All I can say is I sure am glad that the CFTC is making sure the markets are fair. Can you imagine if they weren't on the little guys side? Hell, they may have taken silver to $0 in 1 minute!!
This level of fraud only shows me that America is cooked. We are a Godless society that is no longer capable of spotting the decay that we live amongst. Don't believe me? Ask your friends and neighbors how it is possible for silver to fall so much soooo quick. NOT a single one will tell you our markets are rigged and not free. This is because we as a society have become so used to the rotten coruption that we no longer know what is good or true.
The way I see it is the people get the leaders they deserve. The leaders are only reflective of society as a whole. Collectively we have allowed these thugs to rule over us and as a society do not even see it right before our very eyes. This would have not been possible in the past when people had morales. I guess you could say we are getting what we asked for.
Now back to silver. I have been reading on more than one trusted site that silver and gold would set back. I feel at this point gold will set back to 1400 [as called for] and who knows about silver?
In the LONG run silver will be king. With so little left on planet earth and it being the 2nd most used commodity in the world that makes it possible for us not to live in the dark ages... Silver will soar like none of us can even imagine.
I know this and yet have a hard time not understanding why there is not more money being POURED into silver. Maybe now - the "big" money will buy PM's??
Anyone who thought the CFTC or that maggot Chilton would do jack shit CAN GO FUCK THEMSELVES.
ReplyDeleteYou are officially the biggest SUCKERS of all.
FUCK OFF.
My wife just ripped me a new one for investing in silver.
ReplyDeleteThe point she brought up was "Has there ever been a time when the real value of silver has been discovered, or is this always going to be a manipulated market?"
@D283: I try to get the best prices I can, doesn't make me a vagina.
ReplyDeleteNOT FOR SALE
ReplyDeleteHeaded out early today to pick up some silver from my local coin dealers. They are not selling. They will buy at today's prices, but are going to hold on to their silver until the price rebounds. I don't blame them. Think I'll pick up some Pandas and Grizzlies from SGB, they always have the best prices.
Volatility.
ReplyDeleteLarge, rapid swings in price.(manipulation, algorythm assisted)
Interest rates @ZERO, squeezing yield curve to potential inversion.
Once the squeeze sees the light of day, and perception that there is no exit plan save printing,
Then IMO, a violent shift in the other direction comes from the last safe harbor. I would think that JP is busy now removing their short, and filling their new vault.
It is also my opinion that as the last time, the banks will end holding the majority of the G&S save what the enlightened few are able to capture. At this point everything in their power is being done to defame and supress Silver, as it is THE
"Achilles Heel" of their control. They are stepping on Silver's throat. They are burning the fingers of all that enter this market.
With each episode of suppression it becomes more difficult for buyers to pick the metal back up!
This is the goal. Buying gold is OK, as they own enough to keep the price checked and orderly. The average person in the world sees the metals not responding to these crisis. They see the US Bond as safe. They see the US Dollar as safe.(as is the plan)
All one needs do is look at countries familiar with metals value that have historically been buyers regardless of currency distress.
Note how over time currencies have been devalued overnight in many instances. Those holding metal had protection and lost nothing.
I am anticipating violent moves(a quick SnapBack in the opposite direction, as the rubber band has been stretched too far against this physical metal market). I am NOT calling a bottom! I am thinking that the buying will continue from every corner, and the lack of physical will call the "paper" market out.
Just as an example:
IF the market in question was oil. And the suppression kept the price low enough to create shortages. Price discovery would occur at the pump. Paper manipulation ended.
No one has a crystal ball to know when. But I do know that it has been my perception that everything that I have thought coming is doing so, and at a much faster pace than I anticipated.
I agree with the Livermore statement "sit tight, and be right"
I prefer burning hot metal, to burning hot paper.
The control is ending.
I think Mike was RE-posting a FOFOA post? Maybe I'm wrong..
ReplyDelete"Has there ever been a time when the real value of silver has been discovered, or is this always going to be a manipulated market?"
ReplyDeleteIt's a fair question.
Has there ever been a time when the entire world's monetary system levitated in a valueless vacuum? Where (non)value is measured against (non)value?
Has there ever been a time when silver was on the verge of complete depletion from the earth?
Good luck, mate. :)
Here on in the PNW, its a beautiful day! My shares are only down buy 1k dollars, SVM is up 3%. Placed a stink bid for coins, @ 30.00, I think the beatings are over for now. JPM, was in a real bind, that had to get Ag down, no biggie. If they are not covering and stocking SLV, then they are foolish. I truly think this maybe one of the lasts beat down. Twist will fail, Bernakster will print in Nov., the 3Q reports will be very poor, someone has to buy treasuries, who? The FED! We are getting close, 6 month to a year, take this opportunity and buy what you can!
ReplyDelete"Has there ever been a time when the real value of silver has been discovered, or is this always going to be a manipulated market?"
ReplyDeleteSeems we`re going through a rough patch for silver/gold similar to what happened in 2008.
Silver and gold tanked. SLV lost half of its value, tanking from 18$ to 9$, but by the end of 2009 was back at 18$. We know what had happened after that.
Fed might start money printing again, a mandatory QE3 in their mind to cause inflation as people will beg for it. Therefore there won`t be the need to wait a whole year for prices to recover. Might happen in a few months.Election is getting close and democrats won`t want a total crash on their watch. Printing will start sooner rather than later.
THE RSI-RELATIVE STRENGTH INDEX on SLV is LOWEST SINCE 2008
ReplyDeleteI don't pay much attention to Technical Analysis anymore, that being said...on the 3 year SLV chart the RSI is now at 40.63 dropping from the RSI 60 range only a week ago. To see a 20 point move in the RSI on a 3 YEAR CHART is breathtaking to say the least.
On the SLV the RSI has not fallen below 42-43 until you go back to DEC 2008. This is a Classic takedown by Algo booting, Margin calling and panic selling.
I am so glad I am totally out of the paper markets. The US GOVT is about to shut down again, the BANKS now are in serious trouble as the FEDS SHAKE AND TWIST on the US Treasury market is going to wipe out returns by the Big Banks who are borrowing on the SHORT END and BUYING THE LONG.
LOLOLOLHAHAHAHHHAAAAAAAAAAAAaaaa
Now that WTI Crude is now below $80 at $78 the Canadian Tar Sands start to lose money...LOL. GOD....I love this DEFLATION DELUSION. It brings out the finest lunatics and morons.
MUST READ... PMs heading MUCH lower!!!
ReplyDeletewhere is gold heading?
http://www.martinarmstrong.org/files/Gold%2009-15-2011.pdf
http://www.24hgold.com/english/news-gold-silver-caution-is-warranted.aspx?article=3624330004G10020&redirect=false&contributor=Toby+Connor
Where is silver heading?
http://www.clivemaund.com/article.php?art_id=67
the gold bull market of the 70s went down 50% before shooting up to 850.. dont be surprised to see the same thing happen here.. 1000 is not out of the cards.. remember, the PTB know the endgame and they want YOUR gold and silver.. they are NOT getting mine.. I dont care... I know the endgame. I just hope I have enough fiat to pay the bills and feed the family before the end arrives.. this may play out longer than we all want..I know it is going to feel like it, that is for sure..the past 3 days have felt like 3 months
ReplyDeleteunthought known said,
ReplyDelete"the gold bull market of the 70s went down 50% before shooting up to 850."
That was a US phenomena, We now have Asia,India, S.A., EU, Russia, and central banks buying. 1000, not even, only if the the Dow is 1000 will Au be 1000, sorry!
@malcolm
ReplyDeleteSame happened with silver in 2008(tanked 50%) and we had the BRICS in full swing. Could happen again but this will probably be last huge buying opportunity.
malcolm- I understand and agree with you 100%.. however, nothing would surprise me..if the asians think they can get it at a cheaper price you can bet they will do their best to do so..interesting times we live in..
ReplyDeletettp://truthingold.blogspot.com/
ReplyDeleteMy thought for the week would be that something really really bad is coming our way. The last time the metals were taken down in a two-stage process like this current period was 2008 - March/July vs April/Sept this year. The big take-down in 2008 was followed by the de facto collapse of our banking system and the roll out of the massive money printing injection by the Fed and debt-fueled fiscal "stimulus" by the Government. Both actions merely effected the massive transfer of wealth from the Taxpayers to the financial and political elite. They still have more wealth to confiscate before this over so expect more of the same - this time with a different color of lipstick shmeared all over the cancer and HIV-infested pig of a system.
HAVING SAID THAT, if you merely only held your gold/silver from their peak prices in 2008 until now/today, you would have achieved a 66% increase in your real wealth in gold ($1020 to $1700) and a 57% increase in silver ($21 to $33). Got any other part of your portfolio that has performed like that? No way. So, are you top-ticking the market it you buy some more today? I don't know short term. But I would be willing to bet that a year from now that gold and silver will be much higher than where they are today. Hold tight and
right.
http://thefundamentalview.blogspot.com/
Why is Greece causing so many ripples you ask? Because banks in Greece borrowed from Banks around the world. Banks just don’t lend their own money anymore and haven’t done so in quite a while. You see, banks borrow from other banks who probably borrowed from other banks all in the hunt for that quarter percentage point scalp on the loan. If one bank goes down, all are impacted it seems. Liquidity is key right now as these banks look anywhere they can to raise money to prepare for the inevitable.
Dow JonesThese days remind me of the days leading up to the collapse in 2008. I’m not trying be sensationalistic here but if you read my posts dating back to the stock market lows of 2009 I have on more than one occasion noted that a true market bottom, if we are to call it that, needs to be tested. We never tested the lows of 2009 did we? No. We shot right back up and never looked back. The question therefore begs pondering…are we going to test the low so that we can really call it “the low”.
I don’t purport to hold any answers. I just call it like it is. One would be naive to ignore that silver is off almost $20.00 since touching the highs. Gold is off over $250.00 from the high and is gasping for air. The stock market is on pace for its biggest weekly drop since 2008. Banks are starting to tighten up again, the economy I argue is in worse shape than it was in 2008 and Europe is on the verge of massive credit event. This time I highly doubt the Federal Reserve will come to the rescue.
http://jessescrossroadscafe.blogspot.com/
ReplyDeleteAlthough it is slightly less visible to those who only look at US equity markets, there is a liquidation sell off in the world markets especially Europe. This is helping to steepen the correction in the metals markets.
Notice from this chart that the gold/silver ratio is back over 50 again. And so I have become interested in silver again today for my short term interests.
It is important to keep this retracement in context, as alarming as it might be even for those who hold positions for the long term but watch their portfolios in the short term.
Comex expiration is next week. This is always an occasion for mischief, and I think the metals were hit particularly hard because of the delivery situation shaping up on Comex.
But the key driver is the European selloff and the search for liquidity amongst traders and funds. So if you wish an indicator of the future watch how that situation develops.
Once the short term players have raised their cash, the selling will abate and reverse, even if the situation does not remarkably improve. That is how markets work in their different time frames. Treasuries are getting bought to insanity as investors seek to flee European related risk.
fuck it im going into some DEC AGQ calls at the close
ReplyDeleteIf price decline is due to decreased economic growth, as the media are reporting, then a 20% reduction in price would correlate with a 20% reduction in future industrial demand.
ReplyDeleteGiven that industrial demand is around 900-1000 MM oz per year, a 20% reduction in industrial demand would then be a 180-200 MM 'surplus'. This assumes that miners and scrap keep producing at the same level as before and don't pull in their horns.
Pair this hypothetical 'surplus' of an extra 180-200 MM of silver, with the absolute explosion in money supply: US M2 up $540 billion or so in three months.
Silver surplus assumes people will not buy more physical with all this extra paper flooding the system as prices go down.
Silver production into surplus, whether real or projected, can never keep pace with fiat explosion.
Just dollar-cost average this stuff as real supply constrains. $xyz per month into bullion adds up over awhile.
Ok ... its a damn free for all today order complete! Its true this beat down is just a sign of TPTB desperation. Stack and hold.!
ReplyDeleteRumor is the price is down due to Comex default!
ReplyDeleteSGS, are you sure this is not 2008 in equities AND PM's?
ReplyDeleteIf only your brains were bigger than your balls.
ReplyDeleteI own you!
malcolm, can you point us to where you get your information about COMEX default from?
ReplyDeleteWow, nice to see the bears out AFTER the metals tank. Especially those of you who are now making comparisons between 2008 and 2011 when just two weeks ago you didn't want to hear shit about it because, "this time it's different", "we'll see $50 before we slide down to $30", "only strong hands are in silver now post-May massacre", "there will be no rush for liquidity causing the metals to sell".
ReplyDeleteSeems as though your tunes have changed after the fact, that is pretty fucking classy! You boys should have put those bear hats on at a more profitable time.
SLV and JPM about to cross again, wow!
ReplyDeletePSLV about to cross PHYS, Sprotts silver about to become cheaper than Gold. Wow!
ReplyDelete@Justin
ReplyDeleteForgive them for they do not know what they do.
I'm laughing alll the way to the bank...oh wait, I am the bank.
Malcolm- ok.. now that is total bullshit
ReplyDeleteinteresting how this is all going down on the equinox. Also, if you can, stay away from Denver (DIA), big drill going on ALL over Denver(Operation Mountain Guardian).... a lot of shit going down today, not just the markets....
ReplyDeleteWow, we are going below $30, this is intense!
ReplyDelete@malcom
ReplyDelete911 isn't real
Micheal Jackson isn't dead
Comex default
No wonder I'm kicking your ass.
@Mike
ReplyDeleteI appreciate your sentiment as I find it important to understand the position of "devil's advocate." How do you feel about the amounts of volume associated with major sell offs the last few days?
Thanks for your input.
Keep in mind theses are unsubstantiated rumors.
ReplyDeletehttp://messages.finance.yahoo.com/mb/JPM
LOL today is one hell of a candle stick...
ReplyDeletePRICE MOVE IN SILVER HAS NOTHING TO DO WITH INDUSTRIAL DEMAND...ZIP
ReplyDeleteIf we look at OIL and Palladium we see the following:
WTI CRUDE = -$0.43 @ $80.08
PALLADIUM = -$9.00 or 1.3%
If this was indeed an industrial selloff, it would be shown in oil and palladium. Silver is now down 13.5%...LOL
This is a TAKEDOWN BOYZ....
Now silver is down 24% in a week on a 3 year chart. Most of the decline is in the past two days.
When we enter a FULL BLOWN DEPRESSION....global silver production will decline at least 20-30% in the next several years.
BlytheMasters,
ReplyDeleteI here you suck a silver dick!
Its official, today is the worst day in my financial life.
ReplyDeletegoboy9,
ReplyDeleteBarry will be in Denver on the 27th, and Elenin will be in conjunction with Mars, the Sun, Earth and the Moon.
Well many of you won't like this but:
ReplyDeleteYOU BETTER GET RID OF YOUR PHYZZ or ride it out.
Just called the "big three" USA dealers and there's 45 minute wait times on the phone. Everyone is selling! No joke!
They are taking the US DOLLAR up for the next couple years.
Listen to Marc Faber update:
BREAKING NEWS: The News UNIT
@malcom
ReplyDeleteFat chance....you would have to remove it from your ass.
You tell people to have fun wiping with fiat because it's worthless....well have fun wiping with those silver eagles. That's gotta hurt.
BlytheMasters,
ReplyDeleteNot as much as you being fisted with one of my 10oz Ag bars :)
BlytheMasters,
ReplyDeleteJust so that you know my average Ag price is 17.00 and my Au is around 1100.00. So, you get 9 inches of limp dick!! Enjoy!! I know you wont!
@weather unit. Fuck you and your god. I really can't wait for the new site. We can all forget such weak minded, parasitic lifeforms exist. Please go choke on your rosary or something symbolically related to jesus christ.
ReplyDelete29 and falling. hahaha FML
ReplyDelete$29... start buying!
ReplyDeleteI got 1 (LOL) Dec 245 AGQ call, those market makers are greedy bastards
ReplyDeleteThis Is NOT Sparta As Greece Threatens To Partially Withdraw From NATO Citing Poverty
ReplyDeleteI wonder if this has anything to do with the Greece's pending war with NATO member Turkey, and the assistance of non- NATO member Israel.
jinglejang jangy: You sound like "vain jangling". Go snuggle up to SGS as you watch your metal melt. But do buy some more now in this dip so you can be a millionaire. SGS can help you now with his words of wisdom and Blythe fetish.
ReplyDeleteGo buy some TKRFF too.
volume peaked to begin the downtrend from 32.4 and again at the lowest we've seen so far at 29.75. Manipulation much?
ReplyDeleteRemember folks GOLD just hit Jim Sinclair's $1640 and beyond point now.
ReplyDeleteRemember all that "$1640 and beyond!" pumping?
Go to www.jsmineset.com to read more...
That dirty worthless fiat just turned into PRECIOUS PAPER.
Several of you here woke up now. There are others who will follow the master into the abyss. Don't do it!
I really like SGB ... Especially because you can use paypal. But, they do charge you a fee. :( still... I bought 15oz of various silver coins 1/4, 1/2, 1/10 and some Buffalo's for a grand total including shipping 36 per ounce.. not bad for buying fractional coins... Cheaper than Apmex etc... btw, I saved 1.98 on my $550 dollar order using your discount code.. um all savings count..... Thanks for the heads up on SGB.
ReplyDeleteBefore you jump on me.. The fracts are for my Grand kids Christmas
@weather unit. best you got huh? you fucking milktoast... lol
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteI have gold down about $108/ounce and silver down about $5.50/ounce. I am holding my physical, but it is really pissing me off that these market rigging banksters are allowed month after month to suppress the price of precious metals with the full knowledge, consent, & permission of the the CFTC, SEC, & DOJ. We need a military intervention to break the criminal racket & RICO these SOBs out of existence.
ReplyDelete@detersbb
ReplyDeleteDon't worry my friend. The grand 20th century experiment of Military Keynesianism is running out of steam.
hmmmm.. Why do you even care, Weather Unit? It's our/his/their money.. if we want to spend it on Silver/Gold bullion why are you having such a tizzy over it. Move on son... Oh wait.. is this George Soros again? George can you stop playing on the Blog's you have a country to ruin.
ReplyDeleteit is just selling at this point, the selling leads to more selling and more selling, we are going to 20
ReplyDeleteFor all those that follow Harvye's blog, for the past few weeks there have been very few Ag delivers in this delivery month. Most on those standing have taken cash settlement more so than usually, Comex expiration is on Tuesday, my birthday go figure, this was, is a prefect storm, with the derivatives and possibility of failure to deliver, I just do put much faith in other possibilities, such as traders needing liquidity, IO on Ag has been at 112k for the last 4 months not a whole lot of speculators in that market, but I can see that banks needing liquidity.
ReplyDelete29.90: That's more like SEA LEVEL PRESSURE. I think we are about to see SILVER increase to HURRICANE STRENGTH and beyond soon....developing...
ReplyDeleteonly 12.00 to go until 17.00 but 21.00 to 50.00. James Turk was wrong too.
ReplyDeleteBrotherJohnF went short and he was pumping $68 ad $100 by year end.
Oh yea don't forget Bix Weir and buddy SGTbullshit: $100 forecast as of yesterday too....
HA, Ag down 16%!
ReplyDeleteYou have "GOT TO BE A FUCKING FOOL" to not see this has "NOTHING"to do with normal market forces!
@weather unit
ReplyDeleteLOL "developing"... oh my. That's something I'll miss making fun of.
You working for CIA/NSA there buddy? Sure hope so. Wouldn't want to imagine you working this hard on your free time.
Maybe just maybe, the Ag contracts are worthless?
ReplyDeleteI'm getting the fucking shakes have to go buy more.
ReplyDeleteIt's nice to be CIA/NSA. I have some very useful toys in my toybox. Obviously it's not a job for everyone.
ReplyDeletePaidinGold: You don't know enough but you will be soon enlightened. Just keep watching those charts and shudder.
This comment has been removed by the author.
ReplyDeleteCute reply. I guess that answers Malcolm's question about your intent.
ReplyDeleteIMO you cant ask for a better entry point. Down $5 give me a fucking break
ReplyDelete@Yousif
ReplyDeleteI called a dealer. He wants three to five about spot for everything. Says price flux is making him change premiums daily.
Holy crap, I had to go get some linch and a haircut jusy got back to see silver smashed!! I had a stink bid to buy 3 QI's at 30.15, it got hit and now up 5k hahaha
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteAs of this minute...
ReplyDeleteJPM = 29.54
Silver = 30.58
Ladies, Gentlemen and wussies; is the sky falling? We know space station shit is but this temporary (major) downturn is just that, temporary. I admire a great number of the participants on this site, you bitches know who you are.... I depend on you guys sharing your invaluable insight and knowledge. Your freaking out is out of character for you, so quit it. We ALL know the risks of playing this game however we have the biggest edge(in my humble opinion) you can possibly have; a paper currency that EVERYONE knows is shit and is imploding, globally. Patience is the name of this game. The one(s) whom are the most patient will win. Remember; evil is impatient, arrogant, ego based. Patience has a levity that can not be faked. The moral of this little tale; take the rest of the day off. Like Mike said, go out and play with the kids, play with the dog, beat the wife, what ever, just give it a break and let's reconvene Monday. Otherwise, break out the Pepto Bismol and enjoy the burn.....
ReplyDeletelmao, the experts said Sept. would be epic, silver 50, gold 2000!!
ReplyDeleteone more reminder, NOBODY KNOWS NOTHING, william goldman
love to hear chappy moan and alibi now
was driving thru LA, some seedy dude had cardboard sign a couple days ago shaking it, "WE BUY GOLD!" knew that was a harbinger haha
well my net worth took huge hit this week but thats why UR on for long haul
Something just changed: SILVER went up 3.8% within the last 45 MINUTES!
ReplyDelete...developing...
Just go to your nearest coin shop if you live in the USA. It's a riot! Everyone is lined up selling their gold jewelry right now and silver coin collections. Unreal!
ReplyDelete@ Colin
ReplyDeleteWere you at the corner of Venice and National when you saw the "we buy gold" sign?
Ok out of the trade now..LOL. That was easy. Luckily I was sitting here to sweat out that 29.85 print. Damn!! Time to buy some phyzz.
ReplyDeletegoboy9 said... "you bitches know who you are...."
ReplyDeleteI love it! Ladies, I apologize for my foul use of language. These people have gotten on my bad side and I'm not just talking about the EE, TPTB, I'm also referring the otherwise distant"shit stains" of humans and I'm being nice, that come on here and add nothing of substance or quality to this blog.Do you not have the courage to confront the bully that kicked your ass, or the guy the banging your wife, how about finding the kid that took your lunch money in grade school, fucking punks!
Oh and BTW, Ag is still up over 46% this year :)
Why is anybody freaking out here? This is AN AWESOME buying opportunity. If only there was more fiat to burn.
ReplyDeleteTo update my earlier post here, gold dove below the weekly 20ema and is working its way back towards it. A move back to 1669 has that moving average as support again. The weekly 30ma is at 1583.50 in the event of a further drop.
ReplyDeleteI stated earlier that the monthly 20ema has been a champion of support for silver. We took about a .37 trip below it and have gotten a nice bounce so far. The candle at the lows on my one minute SI chart shows a huge volume spike of over 2000 contracts with a nice RSI divergence at the low. I made some nice money on that bounce which will be going into another phyzz purchase soon.
Rich
Armstrong says a weekly close below 1605 means mid 1400's for AU.. I am not convinced we get there, I am going to buy a monster box right here.
ReplyDeleteWith gold down over $100 and silver down $5, today the man that many consider to be the top trends forecaster in the world, Gerald Celente, told King World News, “I’m now buying physical silver for the first time. One of my reasons is I am very concerned that when gold prices begin their upward ascent again, I believe the central banks and the governments are going to blame the gold people for the financial problems.” Celente previously announced on KWN that he sold the Swiss franc, which turned out to be right at the top of the market before a 25% plunge in the currency.
ReplyDelete© 2011 by King World News®. All Rights Reserved. This material may not be published, broadcast,
rewritten, or redistributed. However, linking directly to the blog page is permitted and encouraged.
September 23, 2011
Gerald Celente continues:
“They have regulated the price of gold before, not that they will be able to do it, but I am concerned they will try something to regulate the supply (to the people) and the price of gold as the price eventually keeps going higher. Silver to me is not going to have that kind of regulation imposed upon it.
So I’m buying a position in silver against any future actions taken by the world governments to restrict the supply and the price of gold. They did it before in the US, they will do it again.”
On August 30th, Celente announced to King World News that he had sold his entire position in Swiss francs. When asked about his timely decision to sell and what he sees going forward Celente remarked, “Well they telegraphed it, and we’re looking at a currency war. History is repeating itself. We went through the panic and crash of 1929, the Great Depression, currency wars, trade wars and then World War II. We went through the panic of 2008, we’re into the Great Recession/Great Depression and they are only keeping it together by printing money, and we have currency wars.
I knew that the Swiss could no longer take that of safe haven status because we kept hearing from their major exporters they couldn’t export when the currency was so expensive. Same thing going on in Brazil, it’s a currency war. So it’s very clear they are going to keep trying to devalue their currencies, which is why, of course, silver and gold prices will continue to go higher, even though we are in a downdraft right now....
jingle,
ReplyDeleteI am from seattle but down here a while, it was some place near redondo beach
BTW, tulving premiums on junk silver are very low...looks like a lot of people are panicking out of phyzz. I might have to pick up some junk. Walking liberties at -.20 below spot is a great deal.
ReplyDeleteBANK HOLIDAYS, MARTIAL LAW & FOOD SHORTAGES COMING
ReplyDeleteI feel sorry for GADFLYS like WeatherUnit when the real issue is not gold and silver, but the system as a whole. Its getting ready to come crashing down...and with it the SUPPLY CHAIN SYSTEM that brings goods to market.
Gold and Silver will head much higher by end of year. Anyone that is panicking by this Central Bank Selloff....I pitty as you are no better tha the SHEEP on CNBC.
GOD HATH A SENSE OF HUMOR.....
@malcolm - I am interpreting your post as being insulting so, fuck off. If your not being insulting, my apologies. If so, fuck off twice.
ReplyDeleteWhat happened to all those monster box purchases that were going to take place at $36 or $34 or $32? WTF do I have to knock it down to $29 before you pussies commit?
ReplyDeletethis is a global and WCB take down- a concerted effort, IMO by the CBs and th8is is exactly what they discussed over the past 2 weeks in meetings. same exact thing that the FED did in the early 80's when the hunt bros(no relation to Super Mario Bros :) started demanded phyzz...the game is REAL now..Russia, China, India, and many others are going to CLEAN up this friggin shitstorm. all my opinion of course
ReplyDeleteBTW, just got off the phone with tulving, they are jammed!! The dude told me there are very busy and it's ALL BUYERS !!!!
ReplyDeletegoboy9 said.,,
ReplyDeleteWooo,Wooo, you misunderstood buddy! Chill! Why did you think I was addressing you?
I was talking about BlytheMasters, ToolUnit and a few others.
But, I like your insistence of fuck off twice, it shows some balls! Cheers!
Weather Unit has a fat short silver position and he`s just trying to maximize profits by scaring more people into selling. Classic short-selling action. They do this on popular boards and blogs.
ReplyDeleteJust bought more bars for the rose bush.
ReplyDeleteCouldn't get through on the phone to local dealer, been ringing busy all morning.
Apmex was open though.
(and no, I do not put my silver under the rose bush. please don't try to dig it up or you'll meet my dog, Chopper)
wouldn't hurt so bad had I not initiated calls last week ... who'd of guessed an $11 take down in 48 hours tho ... with no fundamental reasoning for it. When a company has this kind of take down, we see it in an anonymous letter or leak of alleged inside fraud or instability... but for a commodity to have this kind of hair cut in 2 days .. just not right. But .. that's the game.
ReplyDeleteI suppose I'll never learn. Hedge hedge hedge.
Blyth, LOL
ReplyDeleteApmex
2011 Silver Eagle 500-Coin Monster Box -SF Mint (Sealed)
We currently have 22 of this item in stock.
2010 Silver American Eagle 500-Coin Monster Box (Sealed)
We currently have 6 of this item in stock.
So Please go fuck yourself!
on my way to the bank to get some fiat. gonna buy a god damn boat load in a couple hours. all thanks to that little slut , i mean ms. masters...
ReplyDeletemaybe there is a big buyer of tonnage and the CBs of the world are selling to get them to keep buying their crap bonds..prepping for their citizens, i.e China? who knows..its FUBAR that i do know. well, the phillys i bought today are 25% less than they were last week. they may become collector items if the EURO (which the phillys are 1.5 EU) collapses... LOL
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteit weird..ebay price silver still going for $44+ dollar..when the paper price went down like hollywood hooker..guess that the different between real market..and paper market ^^
ReplyDeleteThis comment has been removed by the author.
ReplyDelete@malcom
ReplyDeleteThere shouldn't be any at this price.
@MethLab101
You know how to thank me.
SELL SELL SELL BEFORE IT'S TOO LATE!!!
Wow,, Were did all the Trolls come from ! lol Don't Feed them, they just BREED !
ReplyDeleteAnd I'd say, Good Luck finding any Physical Silver at the 20 Idea ! In my area, the coin shops are Cleaned out! Not even sellers ! Wow ! Guess I will have to hit a bullion bank ! Hate that, have to wait and Postage.. I always enjoy a Sale ;)
ReplyDelete@bflowersm
ReplyDeletethey are like gremlins.
That's OK, I could only buy forty today, but my dad is ordering his second Monster Box today ! lol And if it makes another two dollar drop, he will buy another one ..lol
ReplyDelete@Blythe, i AM selling ! selling my fiat for some real money called Argentum
ReplyDeleteHoly Crap! I go out, buy 10oz of Ag and 1 oz of Au, have breakfast with my son, get back home, turn on my laptop and Fk! silver is down to $30.7x!
ReplyDeleteQuestion now is do I take a 2nd position HNU? ... better not, this Fk-storm could play out till early next week.
@Malcolm - my apologies.
ReplyDeleteer...ahmmm... that HZU(2x bull Ag) not HNU (NG).
ReplyDeleteI didn't buy more. May go to the currency exchange and buy more phz
Thank you gentlemen, for your astute tech analysis! @rocket @led @malcom @Rich @Dennis @etc. etc. etc.
And thank you all for the much needed mirth!
cheers
Intraday low basis SIZ11 was $29.845..got technical?
ReplyDeleteLedbedder said...
There is a gap on the weekly chart at $29.992. Guess that makes it more bearish than WU.
September 23, 2011 7:44 AM
@Rich: thanks for the MA info.
ReplyDeleteGotta say, this may be one of the best threads from this blog.
ReplyDeleteCOMMERCIAL SHORTS LIQUIDATE 4,100 SHORTS as of end of TRADING ON TUESDAY
ReplyDeleteAnyone in here minus the WeatherUnit thinks this was anything more than a FED-US TREASURY-CENTRAL BANK TAKEDOWN...you need to go sniff more glue.
The COT REPORT came out which SGS will more than likely do an update that shows a big liquidation in silver commercial shorts already as of close of Tuesday trading:
SILVER
COMMERCIAL SHORTS = -4,157
COMMERCIAL LONGS = +552
GOLD
COMMERCIAL SHORTS = -9,035
COMMERCIAL LONGS = +3,805
Here we can see that from the week of the COT REPORT...tuesday to tuesday, silver lost about $1.50. This is when the commercials liquidated some 4,100 shorts???
Since then we have had almost a $10 decline. Now take a look at the US DOLLAR:
US DOLLAR
COMMERCIAL SHORTS = +17,418
COMMERCIAL LONGS = -6,813
That is a net change from week over week of 24,000 NET CONTRACTS. There are now 49,000 Commercial short contracts and a measily 9,000 commercial longs. Do we see where this is headed soon?
LASTLY...and AGAIN....for those who think we are heading into DEFLATION...you and ELLIOT WAVE PRECTHER need to sniff more glue and swallow more CNBC FAST FOOD.
AMEN!!
ReplyDeleteLASTLY...and AGAIN....for those who think we are heading into DEFLATION...you and ELLIOT WAVE PRECTHER need to sniff more glue and swallow more CNBC FAST FOOD.
@Led... "Intraday low basis SIZ11 was $29.845..got technical?
ReplyDeleteLedbedder said...
There is a gap on the weekly chart at $29.992. Guess that makes it more bearish than WU."
Nice call! I'mma call you "Robinhood" from now on because that call was a fricken BULLSEYE. LOL
@SRS - Clear as glass where this is going. Thanks for posting.
Rich
Rocco: Of course it was the works of The Washington D.C. Corporation that plays with these prices. You think for some reason that I disagree with that? Never!
ReplyDeleteYou also have to keep a close eye on Jew York too.
I'm going to sleep like a baby tonight, I just checked up on my stacks of Physical silver,and they are all still there ;) Didn't loose one of them in this WAR! As far as some paper bugs go, well that just might be a different story! I was a little pissed at first, but then I took my anger out at the bullion bank.. And now I'm Happy ! ;)
ReplyDeleteTime to take a nice crap after today's action....
ReplyDelete...just though I'd share that with you.
A great comment on the massive manipulation today from ZeroHedge...
ReplyDelete"Random_Robert
Oh my God...
I can't handle all this "back to deflation" talk out there.
You really think Ben Bernanke (of all people) is going to take the podium and declare that his own 2002 thesis was erroneous?
"Sorry folks, Money and helicopters won't help... we're just going to deflate and that's that."
Will he seriously jeopardize his legacy as an Economist in order to legitimize his tenure as a Central Banker?
I think not.
Besides, consider the fact that all debts must be paid, and that right now the cumulative supply of all US dollars that exist is about 8 Trillion, yet this amount is leveraged to about 800 Trillion in debt (aka government unfunded liabilities and bank leveraged deriviatives.
That’s a 100:1 debt to POSSIBLE equity ratio- the real debt to equity ratio is worse, because approx 50% of the 8 Trillion in existent dollars is hoarded, or otherwise unaccounted for.
So, uhhhhhh…. how exactly does all that debt get paid, if it is denominated in a currency that does not exist in sufficient quantities to extinguish it?
Does this help you understand the TRUE nature of the game being played?
Economics will always yield to mass psychology.
"
@Rich. Thanks, but I just read what the charts tell me. Comes from years of experience and reading charts to the point you think blood may flow out of your eyes. Don't get me wrong, I still get emotional, such a cursed human trait when speculating...silver is VERY challenging, I will admit, and I usually can do decent longer term predictions, but, truly, this is damn near every 12 hours. But, I do love the challenge!
ReplyDeleteBTW: to everyone who thinks I am "panicking" or whatever & laugh at TA, like I said earlier, I use this to get better PHYZZ prices. I thought I was pretty much done, but if I can get good prices, I'll still pull the trigger.
I expect a sharp bounce back after looking at the remaining stock of PM dealers. My shares are down about 20%, they will be back but I think I'll started winding down my equities account.
ReplyDeleteDidn't JPM call for $2500 gold by YE? I knew that wasn't going to happen when they called it. I think this is at least partially to get some to turn in their physical...what concerns me most is we wake up one day and voila! a new currency with gold set @$100 or some such bs. Wouldn't put anything at all past these "people".
ReplyDeleteCan anyone tell me where PaidinGold got this info??????
ReplyDeleteSouth Korea's silver spot is 42.84$/oz
South Korea's gold spot is 1969.62
Is there a site that posts the spot of silver/gold around the world??????
Anyone follow grains? Mike S. has left this blog, so I need a commodity buddy to bounce ideas off of. CWN: you out there?
ReplyDelete@Sam J.: not sure. He has ties in S. Korea. He'll see your post, I am sure of it.
ReplyDeleteThis IS a buying op.. Take it... buy on the way down.. I bought at the bottom today. Lucky yes but, if it goes down more on Monday then I buy a little more. Phyzz holders don't sell anyway. Most regular Joe Phyzzites aren't in this for profit per se. So BUY. It's phyzzlious time.
ReplyDeleteTo all that are buying today. I will take a sip from my Jack and Coke in your honor.
And there you have it: CME just hiked gold margins by 21%, silver by 16% and copper by 18%. Mystery solved.
ReplyDeletehttp://www.zerohedge.com/news/case-closed-cme-hikes-gold-silver-copper-margins
@SamJohnson, Kitco has a free droid app where you can get spot prices in a bunch of different countries and currencies. I do not know if this is what PaidinGold is using, in fact, I doubt it.
ReplyDeletehttp://applications.kitco.com/supportcenter/android/android-app.html
@Malcolm: who do the Seahawks play this weekend? We're at Indianapolis Sunday night. If we don't have a week one meltdown, the black & gold should be able to put a mark in the "W" column.
ReplyDeleteOn that note, I'm (hoping) to unplug for the rest of the evening. Truly an "epic" week!!
@Tom H: PaidInGold, I believe is pretty tech savy, so maybe this is where he gets his info.
ReplyDeleteGO STEELERS!!!
@Ledbedder,
ReplyDeletewe host the Cards.
http://www.zerohedge.com/news/case-closed-cme-hikes-gold-silver-copper-margins
ReplyDelete================================
My Dear Extended Family:
A quote from CIGA Eric today completely encapsulates what we are experiencing in
the gold market:
"This is a repeat of 2009 - actually even more extreme readings than 2009. We are
severely oversold today. Anyone not buying here does not believe in the fundamental
story. In my opinion, this will be a huge entry point by 2012."
In conversations with Kenny we examined the worst case scenario in terms of the
correctness of Eric's comment with which we both totally agree.
Our conclusion is:
Market situations like this will be found to have held and created bear traps in
several instances of similar pattern action over the past 30 years WITHOUT having
continued further down to first major support. The current corrective pattern over
the past 23 trading days strongly implies that the move below $1690 would continue
on down to the core at $1665 at minimum as first bottom, and in the extreme to $1615,
but not below $1584. This will happen prior to exhaustion and a return to the full
bull trend.
So far the remaining successive levels of $2450/$2510; $2850/$2900, and $3280/$3330
are not affected.
Gold shares are being impacted by a field of problems as a result of the large short
positions held in almost all. They are being taken advantage of today by pressuring
the entities in hopes of causing long term holders to collapse in their commitments.
Respectfully,
Jim
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
@ledbedder so do I play Big Ben or sit him his week. :) His killing a brother.
ReplyDeletehttp://www.zerohedge.com/news/case-closed-cme-hikes-gold-silver-copper-margins
ReplyDeleteLed, I have the app and I can assure you I am far from tech savvy. It's actually pretty easy to use.
ReplyDeleteDid anyone see SGS's comment on Twitter today that the Cougar Coin was designed by a blind retarded kid? I got a good chuckle out of that one. Especially coming an hour after I bought 10 of them. Thanks for shitting on my parade SGS! LMAO
Wow, what a day! I assume that the markets are all going down together for a while so I'm saving some dry powder for later, but I couldn't help buying a couple pounds today. It was interesting, though, I called up the local shops and their premiums had gone up around a dollar per ounce since a couple weeks ago. I have been also buying Ebay junk silver at or below spot lately so I checked that out first and found that most everything was for sale above spot by at least a dollar.
ReplyDeleteThe spot prices in Korea are very interesting. Next time I head out to Asia I think I'll enjoy a little arbitrage.
@SoCal: I am too biased. That first week was brutal. You're not the only one that got spanked that week.
ReplyDelete@Malcolm: better triple cover Fitzgerald!
ReplyDeleteGerald Celente is buying silver
ReplyDeletehttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/9/23_KWN_Exclusive_-_Gerald_Celente_Announces_Hes_Buying_Silver.html
@ SRS et. al.
ReplyDeleteI am still new enough to the game that I don't quite get how the COT reports relate to the future prices of Au/Ag. Can you direct me to a link or some other explanation here?
The best stab I can make at it is there is a whole load of shorts exiting the market? Meaning that former short-holders are anticipating a rise in the price, over $36 and beyond?
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/9/23_Sprott_Money_Temporarily_Runs_Out_of_Physical_Silver.html
ReplyDeleteTom H, yeah, a retarded kid who's been licking the inside of roach motels. It's the Canadian Montauk, sad that the RCM are even minting that crap.
ReplyDeleteLedbedder and Tom H - Thanks
ReplyDelete[I don't have an android phone so this will not help me?]
Did you guys catch the fact that Eric Sprout is out of silver? He sold out and has no more silver...
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/9/23_Sprott_Money_Temporarily_Runs_Out_of_Physical_Silver.html
Don't you think that JPM is smart enough to know that this price is going to cause big money to eat up all of the silver available on the market?
It looks like this is part of their "plan."
Can someone help shed some light on this for me?
Today is a good day to buy... I just picked up 50 1 Oz Libertad's for $3.45 over spot.
ReplyDeletewowowowowowowowowowowowowowow
ReplyDeletegold and silver copper every metal moved down 1% on the last tick itself in a less than one second period .... does anyone have any experience with this
@ TOM H. "blind retarded kid" ha ha dont feel so bad saw the dip today when i got up and almost shit my pants so I picked up a 150 cougars ha ha!! Yeah they do look a little on the tard side. Im hoping it's like that girl somone tries to hook you up with. SO you ask to see a pic before hand and they state "she looks way better in person" but what they hell important thing is to stack. plus needed the cougar to complete the series. LOt of trolls out today!
ReplyDeleteat 515 exactly every metal across the board ticked down 1 full percent
ReplyDelete@Ledbedder
ReplyDeleteI know right, hell they need to protect Jackson, or send in Whitehurst! Our team just hasnt gelled yet!
http://traderdannorcini.blogspot.com/2011/09/cme-hiking-margins-on-precious-metals.html?showComment=1316813402605#c2561194867925168136
He has some good insight but hes dead wrong here:
"I would not read too much into these margin hikes as far as any determined attempts by the exchange to induce more selling. This time around I believe the hikes are legitimate. When you get a market like silver that drops 15% in ONE DAY, you are going to get margin hikes. The reason - the very integrity of the Clearinghouse comes into play."
"This time around I believe the hikes are legitimate. When you get a market like silver that drops 15% in ONE DAY, you are going to get margin hikes."
The margin hike caused the volatility! And arent margin hikes planned, they dont decide and implement in the same day? And why now, because JPM, had a HUGE number of contracts hold for deliver, thats why! I knew all that other stuff was TOTAL BULLSHIT!
I sold a large Au bar on Monday and was in the process of rolling it into 1oz Ag rounds. S/G ratio 44 when I started and 53 on my last purchase. I picked up an extra 37 oz of Ag and a new handgun as a result. Plus my coin guy made his percentage! What a gift! Thanks Blythe, but your still a bitch!
ReplyDeletescratch that silver ticked down 3% on the millisecond of the close
ReplyDeleteFrom the Sprott KWN article:
ReplyDelete"another client is buying $5 million of 100 ounce silver bars or gold maple leafs."
damnnnn....just thinking about that gives me a chubby....
I buy from Provident Metals on occasion, including yesterday and today. Yesterday, they had everything they advertise in stock, or almost everything. They either sold a shit ton today or pulled their inventory due to low prices. Scroll down this page and see how many items are out of stock:
ReplyDeletehttp://www.providentmetals.com/bullion/silver.html?limit=all
@Tom, esp. out of 1 oz. Hmm.
ReplyDelete