Wednesday, October 5, 2011

Trust that gut!

Yesterday I took out a few SLV PUTS, but covered 3/4 of them on that idiotic rally from 3-4. Kicking myself now as the metals have gapped down significantly. ALL OTHER COMODS ARE HEAVILY IN THE GREEN.


I guess there was another 'liquidation' at 3 am sharp! I'll be back for lunch. Let see how this plays out.

Again, if you think this is the bottom, or just want to park some fiat and buy bullion and forget about it, you can use my discount: sgb-sgs
If you are yankee, change the currency Flag at the top to USA baby! Thank me lots!


  1. Silver is down over a dollar at the time I post this.

    From this day forward I will use the price of JP MORGAN CHASE stock to determine if paper silver is going up or down.

    If the stock goes down a dollar-the price of silver will drop in tandem to keep the price of silver/ounce under the price of the single stock.

    If the stock goes up then silver will be allowed to creep up, but it will not go over the price of JP MORGAN CHASE stock.

    I have read many times from Max Keiser that there is a concerted effort to keep silver under MORGAN stock b/c of some type of derivative maintenance costs-it really seems to be valid as an explanatory factor in silver staying low despite great bullish fundamentals. The stock has been stagnant around $30 for a month & so has silver.

  2. It's a false situation - managed to scoop 10 Dragons amongst my latest stacking haul one of my suppliers is limiting the Dragons to 10 per customer - they only got 500 in total.

  3. YEAH I didn't cover the SLV and SLW puts I put on yesterday. But the $1600 in puts I bought probably equals the 1/4 you still have.... I'm a small timer compared to you SGS. Let's see how this plays out. The cartels are not good traders as we know and they need to buy gold now that the trend is confirmed and they are afraid. I think they want to give themselves good prices on the metals for a while

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  6. Does anyone know where to find a text alert or app that will notify you of price swings in preset ranges. I'm not in front of the computer all day so I need it to go to text my phone. I would have loved to grab a couple oz's at those overnight dips.

  7. We`ve rallied yesterday on what`s basically dire news.
    Goes to show how retarded this market is.

  8. Robert Kiyosaki - buys the gold dips doesn't hold cash. Funny, he hesitated on silver "the industrial metal" what up with that?

  9. Kiyosaki owns both a silver mine and a gold mine as far as I know. Perhaps he doesn`t want to risk a call on silver at this point.

    Changing gears a bit... Who`s this guy on RT. I`ve seen him a couple of times and he`s really annoying. RT`s lineup would be quite ok if weren`t for this dude.

  10. I think we are near the end here. One more test approaching the $28 area soon, and then we will advance. Should look like a H&S bottom, stronger on exit.
    Me thinks time to pony up!

  11. Correction to prior post, meant near the $29 area.

  12. margin stanley, looks like its going to drown. Who is going to throw it a life jacket.

  13. Reader's comments via zerohedge:

    "The SHTF moment might never come; we might never "get the call." All this oligarchical theft/nationalization could continue until the State owns absolutely everything and there are no true nations left to resist. I call this the Soviet/Braziliafication/GlobalGulag model."

    "A climax selloff was still on the table as of 3 PM yesterday. Might not get it now, at least not near-term."

    "Nope, the market has to suck in every last possible person first. Always takes time. Old timers from the 30's described it as follows. Public lost their money in 29 and early 30. The smart guys in 31, and the really, really smart guys lost it all in 32."

    "This is the truth. The market will continue until all the fuel is burnt up. Until all traders, including shorts, are destroyed. So if you are trading please place bigger, riskier bets so we can get this over with."

  14. @detersbb

    Good point. I too have been wondering the interactions b/t silver spot and JPM's price.

  15. Picked up more pandas. I finally got my dragon beautiful coin! Hope Blythe can hold these prices longer. The shit is around the corner!

  16. So i went to buy some physical...

    Havent stacked more in over a month.

    I regret it.

    I was told usually there are panic sellers (in May, my local shop got swamped with people selling in fear)...

    This time people came in and cleaned house.

    I've had a target of $15,$17,$19 since that big attack in May. Mostly as the chart is identical to '07,'08.

    Sub $20 if we have More selloffs in all asset classes. Gold hitting $1100. SP500 at 850-950. DOW 7500-9000. Oil 55,60. ETC ETC. been hearing TOO much dollar negativity.

    For the Dollar to POP, it has to get higher (against other paper mostly).

    Have you ever popped a balloon while letting air OUT?

    IF i were an Elite Banker or PolitcoWaco. In a crumbling economic era. And I COULD keep the money coming for myself by having the Americans Inflate their money supply, while i get into a profiting position in Gold.Equities.Euro's etc.
    THEN start inflating my money supply in Europe. While the Americans take a breather. Id get out of my Higher Valued Euros and into the weakened dollar, before the euros deflate and dollar re-strengthens. Id even invite Geithner over for margaritas in Greece while we tell each other exactly what and when to do it. Making each other a ton of BLING. Back and forth, back and forth.

    Right now the TRADE party is the Dollar. Buying dollars vs other currencies, treasuries.
    And although Godzilla is coming sometime after Midnight, im going to party at least until then.
    If i get carried away, hopefuly he makes alot of noise down the street ;p