Silver/Gold looks good. USA economy in flames, again.

This commentary will be long and painful, as there are many things to talk about.

Good afternoon ladies and gentlemen. I took yesterday off from here as I was extremely busy, and was not around the office. So apologize for not committing to my practice yesterday. After 6 months of being live on google blogger, we should be making the switch to www.silvergoldsilver.com shortly, hopefully within the next 7 days. There you will find all sorts of tools and information, not just from me, but from select posters such as SRSrocco. We have forums, a live chat (which I will be actively on for instant answers, blog, videos, etc. The site will run with adwords advertisements, so we can recoup the initial investment. There seems to be a common misunderstanding out there about perception of successful blogs. I have been doing some research, and after I put in my own time, post things, and make sure things are running smooth in the comments section, I clear about $5/hr when I'm physically on here. So by no means are we getting rich over here. We provide data on this blog in the hopes of encouraging people or making people aware of the continued US and global ponzi scheme. So in essence, I spend time away from my family and extracurricular activities to help the common man. So if I ask you to 'thank me' or proceed to the donate button, dont take it personally, you would do the same to justify wasted time. Those who do, which are many, I thank you for keeping this blog going, and giving me a reason to tell my wife why I spend so much time on here that is essentially not compensated. The new site will give you every opportunity to support the ongoing information, and the higher the income, the more info that will come out. Supply and demand. So just clearing that up as there have been many times where I ask myself why I keep posting, but the encouraging emails and comments we get make us press on, as I feel that its too late to leave my peeps high and dry.

I feel some people after seeing a post or reading something similar get the wrong idea. For instance my post about being "all in" on SVM means that I have allocated a certain % of my paper portfolio to SVM in the form of a CALL option. Let me get things straight now so I never have to repeat them again. I am a former trader. Being 'all in' with a call does NOT necessarily mean I'm not hedged or when negative news comes out (like Friday) that I do not instantly hammer the keys in the opposite direction. My former career taught me well in that you have to FALL IN LOVE WITH MONEY, NOT THE STOCK. Emotional trading in this atmosphere is gonzo. But, for the majority of my positions, like the SVM position I have, is long term. But they are options, NOT shares. Allocating say $8000 for 1000 shares of SVM or anything at this point in the game is lunacy. I will only buy junior shares. So those of you who have no idea about options, there will be a folder for that on the new site. I will also be providing a beginners folder. In time it will be filled with good videos and things to get you started in the paper ponzi gambling scene.

Now onto the usual.

Since I own calls, and I have till January to see what I'm going to do with them, I really dont care if the fraud is true. I will only lose a fixed amount of money that I put in. Those buying the shares, will lose a lot more IF its true. I dont think it is. You cant fraud cash. Its very difficult. Thus, I am assuming SVM management team will be hiring an accredited accounting firm like KPMG or whatever, and this thing should be cleared of 'anonymous allegations' within 2 weeks. If its true however, get ready for a $1 SVM before it recovers. I think, its NOT true, I believe the 13% of shorts out there just won their game. All you have to do is start tracking if the short float is contracting significantly throughout next week on any further weakness. If that the case the fraud is a joke, and they just made a shit ton, and after its cleared it will resume it northerly trajectory with the POS going over $50.

The COT report has revealed what I thought it would. The bankers got slaughtered after Tuesday of last week, the OI on silver is contracting, and the short covering is accelerating.

GOLD COT:
-commercials covered 11755 shorts and added 1326 long.

SILVER COT:
-commercial covered 4288, and and the large specs also covered.

BULLISH.

I would now like to claim victory about the 2012 1 oz Dragons. I have been wishing everyone the best of luck getting these because the rest are GONE. In fact, I was so right, the Perth Mint tried to down play my Blog posting Click here to read... If you visit APMEX and any other store, you will see they are sold out before they even have sold 1. Again, I gave the PM an opportunity to rebut and answer my questions and they didnt...I would assume because I was right, and I warned my readers about it here... weeks before anyone gave a shit to say anything. Case closed.

I leave you with BJohnF, and his silver update. I will be back.