Most people think the greatest fraud/ponzi in the history of financial histories will just disappear overnight. There are great interests in the United States. More so, political and security interests. Those that play along with the ponzi dont get bombed and infiltrated. Those that do fleece their middle class and reap huge benefits.
This is the world we live in, plain and simple. Those waiting for some imaginary overnight session when Gold Opens $600 higher and Silver opens 'limit' up at $500 an ounce are living a fairy tale. Now before you go putting words in my mouth, I truly do believe it will come, but its not going to take 24 hours when you want it to come. Slow and steady is going to win this one if you do not know what you are doing.
Its a tactical game of cat & mouse shaking the leaves of the tree and seeing who is MENTALLY strong enough to stick around even when having an outstanding paper loss that's unrealized. Its understanding when the financial system should have collapsed on Monday but the bank stocks rally. Its understanding that they will not just go away. If you had trillions of dollars would you want it to vanish?
This game takes Patience. Skill. Determination. Balls.
Silver dips $2 and its the end of the world. Give me a fucking break. Where were you in April. Not a fuckin word mentioned that silver is 'going up to fast!" This is the problem with society. We want everything we cant have and blame others when we dont get it instead of pointing the finger back at ourselves.
Enough of the social talk I am not in the mood.
I bought some SLV calls today before the rally off the trend line. The rally occurred because the London fix was in and the usual 11:30 short covering started, not to mention technically it was a buy. If you want to enter the trading game you need to be a student of the game. You need to put in the hours going over charts and candles etc. Again on the new site, IN TIME, I will provide the proper tools, books, and step by step guide on what you need to do BEFORE you place a trade. Unfortunately most people hate the fact that my teachings take at least 4 months to develop the necessary skill and market gauge in order to place that first trade. Again, going back to the patience thing-everyone wants to hit a grand slam when they are 23 years old thinking that one trade will take them onto superstardam and Ferraris. Good luck with that.
As far as silver goes I remain bullish. Gold, not so much until Sept 20-21, as that will be the secret battle in this new currency war and it will get tugged up and down and all around.
This is a turtle race. And the PTB dont care if you are aware of it or not. Dont get caught in the shake'n bake. Anyone selling phyzz at this point is idiotic. We are on the verge of the greatest financial collapse EVER ....or...we are on the verge of the greatest money printing binge EVER then an even bigger collapse.
Tell me which one Gold and Silver do not agree with? Though so. Keep stacking and be the turtle, rabbits tend to get run over before all the fireworks start.
SGS, are we all going to take it in the ass if the Fed fucktards don't annouce QE III on Sept. 21-22? I would like a nice dip to snag 20 more tubes of shiny Eagle goodness...
ReplyDeleteAC_Doctor
I doubt it. If they dont print the Market will get fuckin tuned as its starting to price it in already as the bank stocks rallied. If they dont it will be risk off and back to the silver/gold safe haven. If they do, they will go up that much higher.
ReplyDeleteWinner winner chicken dinner. Long run we go up. Short run expect the vommit ride tug o'war.
Check out this video gem from CNN. Ali Velshi teaches us peasants about Gold.
ReplyDeletehttp://www.youtube.com/watch?v=t8SRDHzJeoQ
Check out this utterly insane bid on a 1oz Dragon
ReplyDeletehttp://www.ebay.com.au/itm/110740233685?ssPageName=STRK:MEWAX:IT&_trksid=p3984.m1438.l2649
This has to be a scam......or the seller is one lucky SOB.
The bidder must think its 2013 or something
I believe in the physical thats in my hand, I know what it is and that its grossly undervalued.
ReplyDeleteeh, people are always going to bitch. I remember people bitching when silver fell from $8 to $7. When it fell from $10 to $9 (the bubble is popping! the bubble is popping!) from $21 to $19 and so on blah bitch blah.
ReplyDeleteNow a lot of those bitches are bitching because they wish they had acquired and/or kept their bullion.
And the ball buster is if silver does bubble out sharply it will probably coincide with massive disruption in pretty much everything from food to power, thereby causing a new round of general bitching.
what/ev.
"And right here let me say one thing: After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!"
ReplyDelete—Jesse Livermore
You are a wise sensei SGS. I am very interested in this craft of yours and the calm within the emotion you seem to posses.
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ReplyDeleteThere were two bulls sitting atop a grassy hill overlooking a grassy field filled with dozens of cows. The younger bull turned to the older bull and said, "Hey lets run down there fuck us a cow?" The older bull replied, "No, lets walk down there and fuck them all."
ReplyDeleteSlowing things down for folks is one of the hardest things to teach. Sometimes you just can't fix stupid.
Been in fiz for three years now. Always adding to it, sometimes trading it, but never selling it. I've never been more certain: continue to buy.
ReplyDeleteIt looks like someone traded a Z 35/49 Risk 700x's on Silver ClearPort/COMEX market today. Paper bought Call. Thats some big size on COMEX. Not sure who cares about this just figured Id share.
ReplyDeleteNot sure what to think about the "vommit ride tug-o war" comment SGS. One side of me says "bring it on" but the other side make me want to.....huh well.....vommit!
ReplyDeleteDo any of you folks have a good place to go and learn about forex trading? I'm setting up a tiny account (here http://www.fxcm.com/) to practice trading gold and maybe silver. I have almost NO idea whatsoever what I'm doing. I know a tiny bit about support and resistance and have been watching gold and silver move for about 4 months.
ReplyDeleteThanks
Just remember, there is a Great Big Industrial side to Silver ! The more these Banksters short it, the more Silver that will be thrown into the Trash, without a Thought, to Recycle it.. There's were the Shortages will show up first ! Delays on us getting our, "hoarding silver", won't go noticed.. When Samsung has to shut down for a week because they don't have Silver to build their TV's, they will buy a Butt Load to see that doesn't happen again, just making the problem Bigger.. Will see it in the Industrial side First !
ReplyDeleteSo in the last 12 months I have managed an 19% return on my portfolio of paper and metal etc.... Feels like shit/turtle pace ( especially since the May crash ) but in am sure Madoffs former clients would be happy!
ReplyDeleteAll I can say is, if I can turtle it out 20% a year for the next decade, I will be happy ( although at some stage we all expect the moon shot in PM's ). My day job and young kids do not allow me to become an SGS options trading god, I would like to thank him for all the efforts, posts, it keeps me sane and happy! Bring on the new site, I have lots to learn!
Thanks SGS!
to the guy asking about forex, you answered your own question:
ReplyDelete"I have almost NO idea whatsoever what I'm doing" + "Forex trading" + "have been watching gold and silver move for about 4 months" = major disaster in the making... please, just dont.
I think many peoples frustrations can be summed up simply: We wish it would go to either $500/oz or $5/oz right now. This no man's land around 40 is depressing because you get half as much as you did a year ago for the same amount of fiat, and many of us didn't get enough when it was still below 20. A surge toward $50 (or $2) soon would ease a lot of that pain.
ReplyDeleteI've been in this thing a month and a half. I got bounced from a $3000 gain back to $1200 the last couple of days. I blew getting $600 more back when I sold off this morning, figuring it was going down further. Then, I had to buy back in higher when I looked at the chart and realized the trend completely changed around lunchtime. Good news though- I sat tight for a week on a 60 day limit bid and caught a nice low on PAAS. I'm kicking myself for not holding my miners. SLW over $40- sheesh. I'm old enough to know learning takes patience and humility. Instead of getting mad, ask yourself what you should learn from each screw up. Bottom line, if this was a checking acct or CD at a bank, I'd be at 28% interest right now, even with my screwups. Thanks for the info. Now, after hearing one poster say there were going to be margin hikes Friday, I wonder if I should bail Thursday or Friday at 3:59, and wait till they've dumped it next week. Would be nice to make that $600 back.
ReplyDelete@thorfinn if you've been "in this thing for a month and a half" please tell me that means you have physical precious metal in your home
ReplyDeletesome suspect that the gold market has low liquidity and high volume, that means exceptional up and down volatility, which will be an excuse for increasing margins anytime (its most deceptive if done over the weekend)
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteGet metal in hand before the government intervenes randomly to screw you out of your trading capital
ReplyDeleteThe markets are known to be manipulated. When there is a liquidity problem assets can move quickly on low volume.
Thanks SGS! Looking forward to the new site.
ReplyDelete(lol. im surprised he didnt say he sold it all)Cash-strapped Gadhafi sold gold to pay salaries
ReplyDeletehttp://www.breitbart.com/article.php?id=D9PK9Q000&show_article=1
Shlomo has come out in the open and said interest rates will remain at zero for at least two more years. That's all you need to know. Timing your buys at short term bottoms is pretty easy, just listen to the cryptos on the bullshit conveyor belt known as television.
ReplyDeleteIf Shlomo tried to pull a Volker and raise interest rates like in 1980:
1. The world would blow up.
2. He would be shot.
3. Rates would be jackhammered back to zero.
@SGS
ReplyDelete"Unfortunately most people hate the fact that my teachings take at least 4 months to develop the necessary skill and market gauge in order to place that first trade."
They should be thankful if it only takes that long. I've been at this game for 11 years, 6 full time now, and I've just started becoming profitable after having made back the losses from all that time. (Of course, I'm the idiot who wasn't satisfied to make a few hundred to a thousand a day trading stocks, or having the patience to trade options, so I went right for futures. It's the masochist in me).
People fuck themselves over so often because trading LOOKS simple, and it is, but it's not EASY to learn. I've put in the time equivalent of 6 years of college learning how to do this. If someone can learn what you can teach them in 4 months and be successful then they should be sending you 60% of their profits just to remind them to appreciate what they have.
Btw, here's the latest margin hikes from IB for GC (gold futures):
Intraday Initial
10395.00
Intraday Maintenance
7700.00
Overnight Initial
10395.00
Overnight Maintenance
7700.00
How about SVM getting some love, already back to $8.50 after a beat down to $7 during the fraud letter raid.
ReplyDeletehttp://www.failfunnies.com/4/images/easter-bunny-fail.jpg
ReplyDeleteSVM's got morning wood, and I for one am not offended.
ReplyDeleteDoes anyone know what the remaining short interest in SVM is? If they are still short in this, with 20 mill shares, their pain is only beginning.
ReplyDeletethanks bro for the GREAT advise and insight. I'm new to this and have been relying on your insight and the insight of a lot of the posters here. My gut tells me (and I am not a thumper) that if the Good Book references G & S than that's good enough for me..... thanks again.
ReplyDelete@rocket231
ReplyDeletehttp://ca.finance.yahoo.com/q/ks?s=SVM
http://finviz.com/quote.ashx?t=svm
found another good one http://www.shortsqueeze.com/?symbol=SVM&submit=Short+Quote%99
ReplyDeleteAwesome post SGS, thanks. Inoculating the poison from all this volatility/manipulation "vomit ride".
ReplyDelete