Bad Day To Quit Sniffing Glue
It's also a bad day to be traveling, which I am. So I will be out and unavailable all day. I would heartily suggest you stop by the chatroom or "pailin's trading corner" in the forums if you're looking for ongoing discussion.
I can offer you a couple of pieces of advice here:
1) Gold and silver are still your only protection against the madness and chaos.
2) Remember, trading the PMs takes courage. To do it successfully, you have to curb your greed and your fear. The only consistently successful strategy is to sell some when everyone is buying and buy some when everyone is selling.
3) When buying physical, try doing it on a regular and scheduled basis. Sort of like the dollar-cost averaging your stockbroker used to talk about. That way, instead of always buying at the highs, you'll also catch a few lows.
The charts below are only a few minutes old but they are already obsolete. Crazy volatility will do that to you. Be patient. Don't make emotional decisions today. Let this all play out. Ask yourself: "Is QE over? If so, where will all the funding for the massive government deficits come from?"
Hang in there. More this evening. TF
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Comments
RE:RE: Greek default
Please explain to me why a Greek default is bullish for the PM's ?
Frees up money to put into other things besides debt payments. But that is minor. What it really does is expose more of the ponzi scheme. When people finally realize paper debt is not safe, the rush is on. This has all happened many times before, just on smaller scales. It's easy to see WHAT is going to happen, the hard part is not knowing EXACTLY WHEN and waiting for the PM Markets to finally explode.
And they will. It may not "instantly" happen when Greece defaults, but it's another step down the path.
RE #s
These #s are extraordinarily low / bullish normally. But in the event that they are intentionally engineering a deflationary period, which it appears they are, then WTFK? I would appreciate others interpretation and comments...
Thanks
Wow, Nymex crude just went
Wow, Nymex crude just went below 80.
3:00 witching hour!
3:00 witching hour!
@Economical Disaster (Guild)
Maybe instead of "Monty Guild SOLD HIS GOLD" you should have added "AND IS ADDING MORE GOLD MINERS"
As I'm sure you are aware, the next sentence in Guild's report was:
"At the same time, we’ve grown increasingly bullish on gold mining shares. Our exuberance stems from the strong belief that gold mining shares could rise without any increase in gold prices, but as gold goes higher from here the mining shares could move up even higher as well."
Hey Ben.....having a bad day?
Today is hardly the day for you to "validate" your opinions........name one goddamn thing you mentioned in your rant that helps someone else on this forum....that's what i thought, nothing. Everyone here knows the risks they take. The whole damn thing is risk.....you think they need your dumb ass opinion? Nope. No one is asking for your approval, so put your pointy finger away, running around like a child telling everyone "i told you! i told you! Oh, and i only invest in physical metal. But there are A TON of people here involved in the market, you jackass. I just cant stand monday morning q-backs. Oh, and ask me if i give a f--k about your total disgust....
NUGT & DUST
Effective 12/1, NUGT & DUST will be 3X funds instead of 2X funds. Just in case you thought all you needed was more rope.
http://etfdailynews.com/2011/09/22/direxion-changes-investment-objective...
LBO Gold Market
As was pointed in the ZH comments, the author is recommending a market manipulation scheme to cap the price of Gold at 2200 or some number. This is not free market philosophy.
Wynter Benton
Getting awfully close to dipping under the magic silver price. Let's hope $36 can hold, so that JP Morgan takes it in the shorts, so to speak.
@tesla
It means we are close to a bottom. Close, but not at it. There's usually a few headfakes left.
Even when we get past the bottom, we'll get one last run at the supports before it finally starts heading up to new highs.
I'm updating all my windows dev tools. Going away again.
@DPH
I read that Coxe article last night and thought it was terrible. He has totally lost it.
$35.7........i can't fucking
$35.7........i can't fucking believe it.........
clive maund
was very right
Sacriface another bank?
The globalist banksters are experts when it comes to eating their own.
I assure you my portfolio isn't dead...
... its just resting. At least that's what I'm telling myself.
Lovely bird, the AGQ... beautiful plumage...
i wonder what's the ratio of
i wonder what's the ratio of sell offs and new shorts.......???
Coxe
The thing I liked about it was the quote I C&P earlier today.
"Finally, the wise, witty folk at the Leuthold Group have published the Chart of the Year showing the cumulative total return on gold vs. the cumulative total return on the S&P since Nixon closed the gold window, repealing the cap on gold imposed by Bretton Woods.
Remarkably, gold's bull market in this millennium has meant that its annualized return has caught up with the S&P—9.9% vs. the S&P's 9.8%. If you'd put a bar of gold in a vault and left it there for 40 years, you'd have slightly outperformed most equity investors."
AG at 35.52
Wow, the price just printed at 35.52 and then popped back up to 36 within seconds. volume of 1200 contracts in one minute. Looks like shorts getting covered. Back down now... Maybe WB is for real? The COT report should be interesting next week.
Good day to start sniffing glue
IMHO (hey i'm a contrarian! lol)
Yes, I am and so are you
Yes, I am and so are you "kingboob". I did not attack anyone here directly, only those that play their physical silver against their paper casino bets. They are idiots for risking their core against that. Otherwise your comments are totally out of context, and does not at all take into account the spirit of this forum. Everyone here rants and rages against the machine that produced the disaster we witnessed today. Everything in my post helps the newbie to understand what is going on and where to direct their anger. You are clearly completely out of touch with the premise of this entire site. The takedown was another typical orchestrated attack against the PMs which ranting any so eloquently stated.
If I were a moderator here I would ban you because your comments were totally uncalled for and unjustified. You are typical of the PM hating, and EE loving trolls that, so far, have not been a problem. I shall alert the moderator and hopefully you will be banned for you lack of civil discourse.
By the way, what did you offer in rational rebuttal to refute a word I said? NOTHING !!!!
After extensive research I have found
someone to save the day!
Silver Weekly Chart
The Green Solid Trendline goes back all the way to QE I.
3:14pBREAKINGCredit Suisse
BREAKING
Credit Suisse sees 30-yr yields falling to record
Folks I know its a tough day, but take heed it may get worse before it gets better. Set up a short while there is still time. Or just do nothing.
U.S. 30-year yields to hit 2.5%: Credit Suisse
TURD HELP!!!
My Keynesian decoder ring is broken and I can no longer decrypt the Central Planner's messages for global domination!
What should I do?
I'm sure this had been said multiple times already
but today just shows that no one has any business making short term predictions in PM price. forget about it!
Worse than my worst fears.
I thought this week would be bad, but I didn't think it would be this bad. Wouldn't be surprised if we go all the way back to 32 at this point. I'd bet the house at 32.
My heart goes out to anyone squashed by all this. It really sucks. But I don't doubt it's temporary.
I beg to differ Tyler. There
I beg to differ Tyler. There was nothing short term about this. This decline has been discussed by many for at least a couple of months. Now is the time to wait it out and see what happens to the PM sector, both physical and miners. Santa said corrections will be deep but swift and from where I'm seeing he's about the best there is for predictions.
My Keynesian decoder ring is
My Keynesian decoder ring is broken and I can no longer decrypt the Central Planner's messages for global domination!
What should I do?
You will be fine sir, here take one of these and call me in the morning.
All the TURDS have one.
Also please keep in mind that
Also please keep in mind that for everybody who was saying there was going to an explosive upturn, there are those now who are forecasting the worst. These extremities seldom prevail, something I often refer to as monochromatic thinking. Sit tight and be right.
Re: Shill
Short the Dow, Ag, S&P or financials.