Open Thread. Turd Unavailable until 3:00 EDT

105 Comments

Captain Hank Murphy's picture

going up

Aaaaaand boom goes the dynamite.

bigmark99's picture

Silver went straight up I

Silver went straight up I love it.

speconomist's picture

What triggered the huge rise

What triggered the huge rise in silver and gold from the last 30 minutes?

Rhinestone Cowboy's picture

Maybe this

SilverIsKing's picture

Quadruple Witching

Today up is down and left is right. I wouldn't be buying or selling but rather waiting until we have some clarity. I am leaning toward further weakness in all assets as liquidity dries up so perhaps pops like this are shortable but I would do so in small amounts only.

Lin Ux's picture

Open Lines Friday

hi turd,

long time reader, first time poster.

ba ba booooie bitchez.

California Lawyer's picture

Seems Greece Default is Imminent

Perhaps gold's vertical lift off is being triggered by the now near certainty of Greece's default which reality has finally dawned on the masses, which has in turned TPTB into full-fledged panic mode? One can only hope . . .

ReachWest's picture

Beachball

Is that the beach-ball I see coming out from under the water??

Eman Laer's picture

Turd Unavailable until 3:00 EDT

Dang! I don't know if I can hold it that long. wink

caramel's picture

What we know about the Greece

What we know about the Greece situation is 'they' know how it's going down & when & everything else is noise.  So when politicians/central bankers say everything's gonna fall apart, it doesn't, when they say everything's fine, it isn't, but markets move according to verbiage as we all know.  Until one day the hammer is finally dropped.  But one thing we may all agree on is when the hammer does fall, they'll say everything is alright till the bitter end.  Can't have the masses or more importantly, their money, fleeing the country, although it's already begun.

rhinestone, interesting development, but perhaps I'm getting wise enough to know its noise in the overall game & we won't know the full story until some later point so in the meantime, still stacking physical.

Two Gun Tobin's picture

What goes up...

I just dont have any faith in this little rally.. just made enough to pay my mortgage payment and sold out.. lets see what the rest of the day brings  GLT

Invisible Hand's picture

EXK

Silver straight up and the damn miners just shrug it off. sad

Sterling's picture

Quote:Silver straight up and

Quote:
Silver straight up and the damn miners just shrug it off. sad

no doubt - it's damn frustrating isn't it.  We'll get our day though when miners outperform. 

bigmark99's picture

maybe this is the reason... maybe

SAO PAULO (Reuters) - The International Monetary Fund cut its forecast for U.S. economic growth on Friday and warned Washington and debt-ridden European countries that they are "playing with fire" unless they take immediate steps to reduce their budget deficits

Captain Silver's picture

Inflation

http://www.zerohedge.com/article/umichigan-misses-5-year-inflation-expectations-rise-second-highest-2011

Inflation fears setting back in.  Metals up!

Can't figure the miners...  

Captain Silver's picture

Correction: Stagflation

mrslippery's picture

Rally won't last

Stocks and metals up this morning on the jawboning of France and Germany that they have found a solution to the Greek tragedy.  But the can is not officially kicked until the Sunday confidence vote in Greece.  Greece may not be willing to take a new loan even if it is offered. I am fading this rally.

brown's picture

We have seen the highs for the day

If the current pattern holds, we have seen the highs of the day, both for the metals and especially for the mining stocks. Huge physical buying pressure against unlimited naked shorting. I cannot recall when was the last time that the HUI index made its high for the day after 10:30.

agNau's picture

Volatile, as predicted.

Swings like this will be the norm I think.
ZH article ref. Above would mean two things.
The US would be the enforcer, and police the worlds Gold.
The US would be the main Culprit in the crime(Libya).
China already consuming all Gold(and I assume Silver) domestically produced. I would think at some point many more would follow suit. Nationalization of mines, be warned! How this could possibly play a role in further suppression of Gold and at face ownership of gold is an interesting question.

Captain Phelps's picture

Timberrrrr

US Dollar Index Futures Cash,Co (DX-Y.NYB)

Crap can't float forever !!

jmmergott's picture

Miners

Everyone has expressed frustration with miners recently.  As a major investor in them as well, we're all in the same boat.  bite your cheek and hold on we have seen this all before.  Right when you can't stand it anymore and you sell them all, they'll take off like a rocket.  You can't deny earnings, you just can't.  gold took off in fall 2009, silver 2010, I predict this fall will be the year of the miners.  HUI near 700-750, GDXJ near 70-75.

SilverTree's picture

.

WHEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE!!!

LaMachinna's picture

Trading in....

silver for gold?  Anyone doing that right now.....any suggestions?  Thanks!  Been thinking and thinking about it, but also, wanted to heed Turd's guidelines and hold off on anything till Fall. 

Would love to hear what you think.  Thanks much!  LaMachinna

p.s.  Missing Word Ver!  and love the edit button.  Thanks Turd for the new site.  Magnificent! 

silverhoarder's picture

Rise in silver

Looks to me we have shorts covering. The situation with the euro is getting worse, the shorts are anticipating a sharp upswing in gold and silver.

Cleburne61's picture

Guys, here's another

Guys, here's another bombshell against JPM and friends.  Anyone at this point, who says there is no evidence that the banks manipulate commodities(especially precious metals) for their own gain, is living in a clinical state of denial.

http://finance.yahoo.com/banking-budgeting/article/112955/wall-street-gets-eyed-metal-squeeze-wsj?mod=bb-budgeting%20&sec=topStories&pos=7&asset=&ccode=

erewenguy's picture

Equity markets are due for a

Equity markets are due for a bounce. Get ready for the rising tide to lift metals also.

brown's picture

This is not short-covering!

I have a different interpretation: This does not look like short-covering to me. Why should shorts be covering? It appears to me that there has been huge demand faced by huge naked-shorting. The Cartel has the agenda to keep prices low at least until the Fed meeting next week.

jmmergott's picture

silver

I have said many times that in 2 years gold has not broken below it's 30 week MA i find it interesting that that is the exact spot silvers decline caught at.  Can we now expect a more organized modest trend in silver as there has been in gold?  Interesting any way you look at it.  (30 week MA is the green line)

sc?s=$SILVER&p=W&b=5&g=0&i=t83154288674&

FriedEggs's picture

Fellow Turdites... Steady on

Fellow Turdites...

Steady on the trigger finger...its going to be a bumpy ride the next 8-12 weeks...

Keep hoarding the physical...

AU/AG 4 LIFE!

Fried(e)

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