Meandering Monday

thanks....

Here is one of my plays for silver – as you can see, a small gain in the underlying security yields massive gains:

http://opcalc.com/1DRg

If silver hits $36/ounce (~$35.50 SLV) by October 1st I will be up 500% - sell it and buy phys. If it hits $37/ounce I will be up nearly 1,000%. Is it possible for silver to go up $6 in two months? Sure. If it goes up more than that, then even better. 

The worst that could happen is that I loose all of it. The biggest risk is squandering this "perfect storm" for the metals. 

$4,500 in, $45,000 out. 

(without being "in the know")

add in a rumor of spr release which is a part of being "in the know"

there are more ways and players  to manipulate a market than we can count

just ride their coattails

IMO Turd Silver could be strong today because London is not on. And because its trading high above its 8,21 and 50 though it is a sign of strength longer term it is also a warning of possible quick reversion to the mean back down to these.

also, do you really think that Pres. Hopey McChange will allow oil to just rally true to market thru 100 into his coronation? I have serious doubts. Hopey has intervened at least 2x before in this market, there is precedent. Once again if one is buying high or averaging down into the oil trade, it could be risky IMO.

Hi Turd,

I am really enjoying the daily podcast, thanks. Wondered if you may have a few lines to say about today's action in Soybeans. No probs if it doesn't fit with your intentions for today's recording, but thought I would ask

I concur with TF ....using future options with the counsel of Andy and Paul to direct your trading could be quite profitable. They are great teachers.

"Learning to trade is not easy. Nor is teaching people how to learn to trade because the art of profitable trading has many elements to it.

When you're looking for teacher I think it is far better that you ask questions about that person, that do not pertain to how much money he or she claims they can make for you.

First of all there is no way anyone can guarantee that you will be successful at trading or you'll be successful at any moment in your career of trading.

What entitles one to teach?

I have wrestled with that idea for many years. A good model is perhaps to look at coaches. I read the story about Mark Spitz's swimming coach who could not swim. Yet he coached Mark to 6 gold medals.

I read the story of one of the world's best basketball players, Lou Alcindor/Kareem Abdul Jabar, who tried coaching and was a disaster at it.

Just because you're good at doing something doesn't mean you can teach it to others. Equally important is to understand that just because you can't do it doesn't mean you can't teach. Isn't that interesting?

Most importantly of all is understanding that the teacher has the position of opening doors, and your performance will never be the exact same as his or hers.

I'm certain that Joe Montana could show me exactly how to throw a football, and I'm equally certain he could still throw it lot better than me. I should not have the expectation to perform at his ability.

I still think however that the best teachers in this business... and there are some good ones... actually trade. But how do you know? That's simple, ask them for their trading results, and ask them to show you their current trades. If they don't have any, they are not trading. It is just that simple." LW

Binary Options at NADEX could be used for those who just want to test their potential before swimming with the sharks....... you can open an account for $100.00 and make options trades on gold/silver for as little as $1.00.......your downside risk and upside profits are limited but the program is designed for beginners.

I have reached the point in my walk that I am not impressed with the size of one's stack of fiat currency, or that it has grown through magnificent maneuvers.  Fiat will one day... quickly...  soon... become worthless.  I might as well get on eBay and buy some extra monopoly money and just keep my precious.

I doesn't matter to me at all if my stack is worth more in dollars today than it was. I am not any more wealthy if my stack is worth more in fiat, but what matters is if the stack itself has grown in size... in weight. The measure of ones wealth is not "how many dollars", "it's how many ounces"... or preferably... "how many pounds".

I love hearing the stories on here of folks telling of their latest purchases, and the occasional photo. It makes my day. Keep it up. Think long term.

TD

http://www.ebay.com/itm/500-MILLION-ZIMBABWE-DOLLARS-X-1000-BANK-NOTES-BRICK-/230695389330?pt=Paper_Money&hash=item35b6844892          A frickin brick no less.

best tracks for this storm [GFDI and GFTI]

now have isaac crossing coast at lake charles.................as a tropical storm.......low cat 1 hurricane worst case scenario

I repeat my post of a few minutes ago, to followup your rant . . .

Given that the Fed/Treasury are, and have been repressing the financial world in order to keep inflation from being recognized, it makes me wonder if we will ever see new highs in gold and silver--at least as long as COMEX trading occurs.

From the COTs it appears to me-- I'm no expert by any means--that the BBs sell short whatever amount necessary, whenever they feel a need to repress silver and gold prices.  There is no reason to expect that to change, as they do not fear reprisal; they are a part of the repression scheme.  As someone here said earlier in a post, rules will change, and no physical delivery will ever be required of a BB. 

We might see the effect of silver shortages via a rising premium, but I don't believe we will again see $50+ silver "spot" so long as COMEX trades.

Assuming that physical shortages change the rules so that no bids are allowed on COMEX, only offers (shorts), then the paper spot price could well approach zero.  This way they would never have to admit to declaration of a signal commercial failure--the "official" silver price would just not move up from just above zero.  Later on, they may recreate the rules to actually allow trading again, but likely in such a way as to keep prices in check better than a free market might allow.  These would be prices at which the government contractors would "officially" buy the silver needed for defense, etc.

There would likely be some period of time wherein nobody will know the true value of physical.  It is during this time that having 3-6 months of fiatskis to pay bills may be helpful, along with smaller denominations of pre-1965 U.S. 90% silver coins like dimes, and quarters as people will start to catch on that fiat dollars, yen, euro, etc. are all worthless scrip.  Because the government will keep its heavy hand on silver "for national security purposes" and for the "good of the people" true price discovery may be difficult.  A black market in physical will likely become the best price discovery mechanism available.

I just can't see how the Fed/Treasury could ever allow a precious metal like gold or silver get away from them, in free-market fashion.  Gold may be officially sanctioned and one-time repriced to allow for counterbalancing the debt, but silver may become known as the strategic metal that it is, and governments will regulate it to their liking.

If anyone has a good argument to refute me on this opinion, I'm all ears.

Ya - this hit-job in the Globex is pretty nauseating. I hope tomorrow gets better follow-through with London open again.

I must admit - this bullcrap is getting pretty old and damned predictable too.

Edit to Add: It certainly appears that the Bullion Bankers still have a firm hand on this market. They will squash, manipulate and control it to their advantage, to put more cash in their pockets and ensure that the threat to the almighty green-back is minimized. Argh! I can only believe that real "natural" (Supply/Demand) markets will prevail, at the end of the day - just hope the end of this BS is drawing near.

Go have a beer or two on me.

BUT; knowing the EE modus operandi, and given the recent moves + seasonals, should we not expect a sharp reversal in Asia tonight, or some time tomorrow?

This type of action, seemingly unrelated to any significant news or events, usually presages something to come, which is PM bullish.

Any ideas?