Blythe and Ruprecht Return

233
310
Sat, Jul 16, 2011 - 8:05pm

No introduction necessary.

The Wicked Witch Returns

And, if you're new here, you should really take 8 minutes and watch this one, also. It was #2 in the ongoing "series".

The Wicked Witch Explains Her Motives.mp4

The metals popped at the open. August gold printed $1599.20 and silver is well over the critical 39.50 level. Let's see what our Asian friends can do for us overnight! TF

p.s. If you have time for one more video, this is still the all-time #1, reigning champion:

Part 1- JP Morgan Silver Manipulation Explained

About the Author

Founder
turd [at] tfmetalsreport [dot] com ()

  233 Comments

olderman
Jul 17, 2011 - 10:32am

TSX Venture

For those playing the junior miners, take note that the TSX Venture crossed over and held above the big round number 2000. If 2000 holds for another day or two, could this be a leading indicator that the bottom is in and the miners (big & small) will gain self respect? Just an odd thought from an older man than most.

RRJJ
Jul 17, 2011 - 10:42am

Doughnuts and coffee....

Doughnuts and coffee....

Priceless!!

cris Mike Victory
Jul 17, 2011 - 11:12am

Turd ASBOLUTELY inhales!

More power to him.

Now on to Congress....

cris buffalo3
Jul 17, 2011 - 11:14am

Baby steps -- Congress first

A principled Congressman can do a lot of good.

tankerfirstofficer Juan Moment
Jul 17, 2011 - 11:23am

Juan Moment: Valid points, but...

It is impossible to predict the future, but it is entirely within our realm of influence to control the risk to which we subject ourselves.

Here's my take:

First, my long-term holdings are forgotten once acquired. I regard them as savings and a store of value, not as an investment. I regard my home in the same manner. Up or down, it's all the same to me (unless I choose to stress about severe loss of value -- which is my choice).

Second, my trading activity -- which is used for income -- is an entirely different matter. I've been trying, unsuccessfully as the chart can attest, to time the next raid in Au. Several small trades with tight stops have told me I've had it wrong all last week. These are losses I'm willing to take.

Third, I tend not to argue with trends and charts. I find your chart to be a valid possible outcome... one among many, certainly. I feel that another massive infusion of fiat is going to find its way into the economy through debt purchases by the Fed in the coming weeks/months. I see no way around that. I view this as inflationary, and believe that my preparations have been wise. Thus, the possibility exists for this to take out resistance and head much higher from here before establishing another trendline/channel. These are interesting times with many things unfolding and unravelling at once. When TA fails, it is typically under such circumstances. Exogenous events are key. Should things remain somewhat quiet on the news front, I'll be placing more trading shorts at strategic places with tight stops... but being very ready to go long at any time.

The balance of my trading account is my only indicator of success or failure. In all of the years of trading, I'm inclined to think this has more upside in the short-term than downside... but I always like to hedge, given the EE's propensity to make trading the metals a frightening and fearful place to live indeed.

This is merely my view. Thanks for reading.

matthenue
Jul 17, 2011 - 11:28am

role reversal

Is there a hidden meaning behind the fact that Ruprecht is sat in the bosses chair?

Mickey Gramp
Jul 17, 2011 - 11:43am

Gramps-rinse repeat when silver hits 50 or more

IMO--the best way to approach this is to keep positions (since we all have a feeling about the long term) and do what someone did very successfully a few months ago by buying a motherload of the SLV 25 puts on the cheap when silver was roaring ahead and in the upper 40's.

That way, if silver gets whacked for a little, so be it. If silver gets whacked for a lot, you can make up a whole lot of ground offsetting the decline.

I have already taken up initial positions in SLV and GLD--deep OTM leaps. Not expensive at all. The counterparty thinks its scalping ez money and that's fine with me.

Monedas
Jul 17, 2011 - 11:59am

Economic Free For All !

Interesting how miners have underperformed physical ! There seems to be so much leverage and potential.......there are also many people waiting in line for the pay out.......the poor stockholder is most at risk and last to get paid and just doesn't get any respect ! The same goes for cornering the market in paper PMs then backing up the pick up some fine day ! Hahahahaha ! Get real ! One ounce of silver is a futures contract in your hand ! Monedas 2011 Hoarding is so right in so many ways ! Don't be too smart by half ! Hoarders have more fun !

magis00 Mickey
Jul 17, 2011 - 12:08pm

SLW and GG > SLV and GLD

@ Mickey, Gramps and others . . .

I like to use SLW and GG as my stocks to get long and short, rather than SLV and GLD. YMMV.*

The reason I first used SLV and GLD was because there was a lot of volume in their options, but SLW and GLD have lots as well -- as do many others. One day I had an epiphany: I don't do business with the EE anyplace else in my life . . . why do it here? F 'em.

*PS--I realize that SLV and GLD are supposed to be "pure" measures of the underlying value of the metal. . .but I consider the "free market" to be sufficiently at work in SLW and GG (e.g., there were 100 calls traded in each for January, 40 SLW and 52.5 GG, which works out to roughly $FRN40 Ag and $FRN1590 Au. Pretty conservative bets between now and Jan., non?)

EWS111
Jul 17, 2011 - 12:23pm

SLV vs PSLV

Hi,

My first post. I'm a retired engineer that has lived below my means all my life such that I could have a comfortable retirement and hopefully have something to leave to my Sons. It seems our present govt. has painted a Target on my Back to extend it's redistriution and spending orgy.

I love this site and really appreciate the insights I've received here. I would like to get other members thoughts on the following;

Since I believe; the SLV is fraudulent and does not have the silver to back all the investors claims and sometime in the future it will crash and it's value will fall below physical silver. I also believe the PSLV is on the level and that is the reason for the hefty premium. With these beliefs in mind why wouldn't it be a good trade to; Short Sell SLV and use the proceeds to purchase PSLV ???

THANKS for any opinions!

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