SVM up 16.35% and climbing with volume. KPMG report is out and clears the company. Perhaps this short squeeze will change the mood in the miners.

of it all makes people say and do strange thing's............go long until you can't.

That's the women you have, er, in mind there Big Hat... 

Yeah I scooped you again a couple days back, this time on Ms. Cambone and her marvelous "stage presence". And secondarily on that little debate thingy too.

Here's Peter Grandich's take (oddly though: no comment on Daniela!?):

While it’s abundantly clear what I think about GATA, I do think it’s also crystal clear that the   main opponents to them, Jeff Christian and Jon Nadler share a common trait:

“Their arrogance and smugness to anyone who doesn’t agree with them is only surpassed by their horrific performance in forecasting precious metals prices.”

It’s important to note this view is not universal to anyone who doesn’t agree with GATA or has been very bearish on gold. Mr. Robert Prechter has been dead wrong on gold for almost a decade. But he’s a true gentleman and simply fits into a category we all do (including GATA principles), we put our pants on one leg at a time.

When I look at what seems like a battle between the world and GATA, I conclude the following:

1-I work in the world of professional athletes and sports teams. And in the end, winning is the only   thing that matters. The fact is GATA has been right for nearly a decade on the direction of gold and silver while its most ardent opponents have stunk up the field.

2-The mainstream financial world and the media that follows it hates gold and will always hate gold. Financial assets make their world go around and a rising gold price does nothing to help those assets (which they need to keep buying and selling to make their livings off).

3-Many of GATA’s opponents are well-funded while GATA has survived on very limited funds. It must rarely bother their opponents that the kooks, nuts and tin-foil hat people are still even around.

Bill Murphy, Chris Powell and GATA have been a 21^st Century style “David vs. Goliath” battle and like the famed Bible story, the good guys shall/have won the battle.

SVM is the star miner today....but watch out now at this price level is resistance and the elliott wave count is looking like a wave 5 completion here....which suggests a pullback  ....maybe to the 8-7.60 area

The time to buy SVM was at 7 and 6    I wouldnt touch it now....next chance would be this pullback  for a bargain at ....7.60 area something like that ...watching support trying to hold at 8 dollars ...If we get another slam downwave in the miners in the next few weeks, SVM will be interesting to watch and see how strong it is in this game,and what strength it demonstrates at 8 dollar area.

I was thinking about the debate again this morning and that is exactly what I would liken it too.  Will Bill's slaying stone be a gold or silver one?

RaRa

Edited to add: although some deride the FT, Gillian Tett is IMHO definitely worth listening to.  It's interesting here in the UK that the Money Week journal, although they have been pro-Gold for 10 years & now pro-Silver, they will not cover any of the manipulation stories.  I don't know why, but it has always puzzled me.  At least Gillian Tett is willing to discuss them in the UK mainstream financial media. 

RE: SVM... agree, would be cautious at this price level. Don't know about you, though, I'm seeing a HUGE reverse H&S pattern forming almost symmetrically.... next dip would be good entry point to see it rise to its mean (to about 12-12.50).   

of the gold and silver markets are Jeff Christian, Jon Nadler and Dennis Gartman.

I have heard all three of them in person before. The only thing they have in common is that they are all smug, self centered, arrogant pricks, with very poor track records. I could list all their bad calls and quotes, but what's the use? 

The next leg up will prove them wrong once again. Good enough for me.

all three of 'em are nothing more than agents of disinformation... anyone who used them as contrarian indicators have almost certainly profited handsomely. 

Oct. 24, 2011, 11:01 a.m. EDT

US pulls ambassador from Syria

By Val Brickates Kennedy

One thing is for certain, our markets are glorious.

Strategists See Euro Decline Ending

Foreign-exchange strategists have ceased cutting forecasts for the euro as European government officials intensify efforts to end the region’s crisis and traders pare bets for a collapse in the currency.

Between Sept. 12 and Oct. 6 the median year-end estimate of more than 40 analysts surveyed by Bloomberg tumbled to $1.35 from $1.43. It has ranged between $1.34 and $1.35 since then. The 17-nation currency, which closed at $1.3896 on Oct. 21, has strengthened 2.5 percent from last month’s low on Sept. 12 against a basket of developed-nation peers measured by Bloomberg Correlation-Weighted Indexes.

For all the concern that European officials led by German Chancellor Angela Merkel and French President Nicolas Sarkozy may not be able to fix the region’s sovereign debt crisis, the $4 trillion-a-day currency market is signaling that...

http://www.bloomberg.com/news/2011-10-24/euro-strategists-draw-line-in-sand-at-1-34-as-merkel-seeks-to-save-union.html

What did she say?

I'VE LISTENED TO THE START, THREE TIMES, AND I STILL DON'T KNOW.

;-}

That debate was hogwash. It was 32 minutes of my life I wish I had back. Jeff Christian is an apologist for GS, plain and simple. One strategy moving forward here to take to the bank that all of us can benefit from is one that Jim Rickards implores. 

"Best advice I can give you is to listen carefully to Goldman Sachs then do the opposite." Jim Rickards

BSD

An article on the miners from technical analyst Adam Hamilton.  I get the sense that reviews of Hamilton's work have been mixed on this blog, but here it is.

http://www.zealllc.com/2011/cheaphui.htm

I got an email from her awhile back when I wrote to complain and bash KITCO about continuing to have Nadler as their head ANALyst. She was very sweet and thanked me for my response. She's all good from my perspective. ;o)

In other news, Chipotle Grill over $340 a share now. LOL.

Glorious, right Shill?