Monday, September 12, 2011

Silver TA update

A lot of people are confusing my silver calls with the "Silver Update" Video's that BrotherJohnF does, please dont confuse the two.

Silver has hit the 50 day MA, it has broken my trend line. The next two days are critical for the short term trend to continue. It seems like Gold wants to gravitate to the GLD equivalent of $165 again. In such an event expect silver to get straight fucked up, again. The next two days will be critical. Get to work Blythe. I suspect the usual fuck job of crushing it intraday to set off all the sheep stops, then on we go.

No one said this was going to be easy. I remember a stock I was in that they shook the tree so many times I literally fell out and paralyzed myself. Expect nothing less then violence.

I am now coining a new term. "Crimes against Silvanity" it should be punishable similar to crimes against humanity.

39 comments:

  1. 10Y and 30Y bond on Tue and Wed. They'd love to have some metal selloff to aid the auction.

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  2. This is brutal. There hasn't even been a capitulation spike in volume, just a slow methodical meltdown. Yuck.

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  3. I've got some fiat waiting in the wings for a good buying opportunity, looks like I might not be waiting much longer........how much longer can they fuck with price???? Surely their ammo must be getting low.....

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  4. Not a trader, I'm a stacker. Silver Futurist released a video a couple of days ago calling for $24 silver. If silver gets back into the low $30's, and it appears it may, I will be buying with both fist. I have amassed some dry powder for just such an event. It is with mixed emotions that I see silver getting hammered today. I want to be able to acquire more at a better price, but I want to see it explode to the upside, in the manner that it is suppose to.

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  5. "If silver gets back into the low $30's, and it appears it may, I will be buying with both fist."

    Why? That would be 20% beat down! For Gods sake it only went to 33 in May. But, hey I'm no futurist.

    @SGS,

    Ppl shorting GG and GLD.

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  6. Like MonkeySmoke, I'm a stacker too, though I just purchased "Technical Analysis For Dummies" so I can exercise the old brain cells and learn something new. Am looking forward to the new site getting up and running...

    Since I only began stacking this year, I got in the game late, and so am hoping to be able to get more phyzz before the whole fiat system implodes. Unfortunately I don't have any available toilet paper to throw at this dip. Maybe I should buy on CREDIT with a Chase Bank CC LOL...

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  7. I'm glad i pulled the trigger a couple of days early, instead of a couple of days late.

    In 2 years you're gonna wish you bought phyzz at $50 an ounce because it was cheap back then, kind of like $19 in 2009.

    Keep stacking, because this is a great opportunity to buy some more phyzz.

    I'm not in this for day to day fiat, I'm in this for the 900% return for the decade.

    Whether you bought at $4.30 or $4.65 in 2001 is laughable today. Well whether you're at $35 or $45, come on. When silver hits over $1,000 or higher, and farmland and houses will be at rock bottom prices simultaneously, it won't matter if you bought in at $49, because you still have a 2000% return on your investment coupled with cheap property to rent out for cashflow, or to farm organic food to feed you and your family, while the sheep are begging for GMO food through the food stamp program.

    I could be wrong, and this is my opinion for entertainment purposes only.

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  8. Don't I feel like an idiot for panic buying at $43.25 over last weekend for fear it would be the last time we saw it so cheap...

    NEVER UNDERESTIMATE BLYTHE.

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  9. silver just crossed a pretty serious resistance line... this i did not expect. the next 2 weeks were critical, and were broken though already to the downside.

    this is not good news for short term. but you cant think of it this way, its not an investment, for me anyways, its a safe place to put money without loss of long term value, and at the end of the day that has not changed.

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  10. Smoke: How do he pick a number like $24? It makes NO sence to even pick that number let alone that far down. I will say $1000 beofore you see $24.

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  11. Violent chop before qe3 on the 21st or the market goes to 8500, lol. Ben wont disappoint or Ben will be gone and Larry Summers in.

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  12. Nothing to see here folks, just another 2 day $3.00 silver raid. I suspect either a furious several dollar rally is next or a week long progressive rally.

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  13. Ahhh, what a rush. I had been waiting for 39.x 17xx for quite a while now. Just got in for a $100 face value bag of junk silver and 4 1oz maples at 39.750/oz and $1,803.78/oz respectfully. The air seems fresher in my office, the fluorescents warmer, my co-workers quieter, and my customer's tolerable. Today it was a good day (and it's only Noon!)

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  14. SDS humming along also.. .Mr. Chalmers, you with me there?

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  15. @The_Color- and your day will truly be brighter when that beautiful silver arrives home to daddy!

    AC

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  16. It's funny. Everytime they pull off a $3.00 waterfall raid, it's chinese fire drill time. "Here we go, how far will they take it?!?!". Relax people. They pull one of these off like twice a month. It's a broken record. A rally is soon to follow, just watch. Like SGS says, big boys buy on red days.

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  17. Re Silverfuturist: I watched that video of his and he did not "call for" $24 silver. He said that it's possible but he wasn't expecting it and he doesn't do technical analysis or any sort of price prediction. He thought it might be possible if we have a deflationary wave before they start printing again. Anything is possible, but I think what he said was slightly misrepresented here.

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  18. @AC_Doctor *Thumbs up!* These gold maples will be my first gold purchase. I have a bunch of silver bars and eagles, but needed some junk to round out my SHTF bugout bag. These are days to celebrate for people who don't feel like they have enough of this stuff (which is...most people??)

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  19. sorry..i'm new to this..what is MA?

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  20. Man they rallied hard on the close, FUCK!

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  21. that rally was expected after that rumour hitting the squak and and the bottom, MS was ready to roll over into no mans land...this should save the financials for about 12 hours.

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  22. LOL!,

    Take this as you will, but according to Wynter Benton, Greece will default by Wednesday. Lord Willing!

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  23. I saw this coming two weeks ago when "Hey Eric..." Dan Norcini was calling for a breakout in the POS on KWN. Face it people, Ag/Au is no NFLX, no LULU, no PCLN. Ag/Au is kryponite to TPTB and gains will be small and incremental and when the specs pile on, expect that a beat down is just around the corner. Rinse and repeat until...one day everything changes and there will be a rush to everything shiny that will make your head spin. When that day arrives, enjoy the rocket ride, but remember once Au/Ag go ballistic get ready for the "end times."

    OT: I was too late to the 9/11 party to post, but SGS how about a monthly tin foil post? Not saying I believe in the grand cabal, but I love reading/watching info about this stuff and the commentators put up some great links, so I guess I'm not the only one on this site who has a tin foil hat in the closet.

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  24. Jon: the new site will accommodate sooooo much Dont you worry.

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  25. Dancing bears too (and jugglers & clowns), I hope, SGS :-)

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  26. The Italian bond rumour? LOL. No doubt China would rather buy gold (for its reserves and long-term "CNY reserve currency" objective) than buy Italy's spaghetti bonds.

    While there are good reasons to be skeptical of this rumour (the day before Italian bond auction LOL) do not dismiss it either because China wants to: 1) protect the value of its EU investments and 2) has interest in keeping EUR together in order to prevent USD hegemony.

    I will believe $30 silver when I see it. Anything is possible but later next week is perhaps USD turn to take heat when the Fed and US will be in the spotlight... usually these events have been downers for USD (what the bernank wants of course) and good for hard assets. Good luck!

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  27. QE.......n will make this all a bunch of noise eventually. Buy the fucking dip!

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  28. Dancing bears? I've seen those bachelrette parties you sicko!

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  29. dancing bears?!

    jugglers?!

    I want hot chicks, dammit!!

    besides, clowns scare me

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  30. APMEX running a $.99 over spot sale right now for their rounds...

    http://www.apmex.com/Product/27024/1_oz_APMEX_Silver_Round_999_Fine_.aspx?utm_source=Homepage&utm_medium=home&utm_campaign=091211_APMEXsil

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  31. and.... to add to unemployment...


    Bank Of America To Cut 30,000 Jobs As Part Of Restructuring Plan

    NEW YORK -- Bank of America will cut about 30,000 jobs over the next few years in a bid to save $5 billion per year. The cost-cutting drive is part of a broader effort to reshape and shrink the nation's largest bank as it copes with fallout from the housing bust.

    The bank announced the job cuts in a statement shortly after Brian Moynihan, the bank's CEO, disclosed the cost-saving goals in an address to investors in New York. "We're a much simpler company than we were 24 months ago," Moynihan said.

    Bank of America stock was up 2 cents at $7 at midday. The stock has lost half its value this year, largely over problems related to poorly-written mortgages it acquired with its 2008 purchase of Countrywide Financial Corp. The bank faces lawsuits from investors and regulators over the sales of mortgage-backed securities that lost value after the housing boom collapsed.

    The job cuts follow a revamp of the bank's top management team last week. Two senior executives, wealth management head Sallie Krawcheck and head of consumer banking Joe Price, left the bank. The bank also elevated commercial banking chief David Darnell and investment banking head Tom Montag to co-chief operating officers, reporting to Moynihan.

    The latest job cuts will lead to a 10 percent reduction in the bank's work force of 288,000. The cuts come on top of 6,000 positions the bank has already eliminated through the third quarter of this year.

    The Charlotte, N.C. company said it expects many of the cuts to come through attrition and eliminating unfilled positions. The bank says the number of job cuts isn't fixed, but that it expects they will total 30,000. It hopes to save $5 billion in annual costs through 2014 under a cost-cutting plan dubbed internally as "Project New BAC."

    http://www.huffingtonpost.com/2011/09/12/bank-of-america-to-cut-30_n_958432.html

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  32. LOL!

    Project New BAC

    BAC must stand for Bloodbath at COrporate

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  33. Ledbetter, you watching my Patriots?

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  34. If we break down below the post QEII trendline at around $37.50 then that would be something, otherwise this is the same old boring shit they've been doing for months. It's very predictable and well-managed from afar. If you puke looking at the 1 minute chart and can't leave your desk, then go buy LULU or some shit, silver is not for you.

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  35. SGS and everyone else--allow me to explain. Silver futurist said silver was going to $24--not me. Silver will never see $32 much less get back into the mid $20's IMO. IF and that is a big IF, silver gets back into the mid or low $30's I'm bringing out the big guns and buying truckloads. I currently have a monthly program where I exchange fiat for money--either gold or silver. I believe that silver in the $20's is done and possibly the $30's. Today may be the last time silver ever looks at $30 again.

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