sixdollarsilver wrote: ...I'll settle for less :)
...I'll settle for less :)
And I am certain you shall get it :)
Nice to see you back.
EUR at 1.13 (grrr) and me trying to close a five figure deal for some paintings out of Germany...vexing. To say the least. I want 1.08 of last week!
Reminder, I still think seasons matter and we get a low for the year sometime in the next 3-5 weeks (man, that came fast!) That's for silver, gold I don't give a fig about. Armstrong is saying the opposite, that summer produces an extreme in sentiment for gold (doesn't mention silver, but we all know how it works) and this summer will be 'hot'. Guess we'll find out fer sure, soon enough :):)
Armstrong has also been lately talking about bullion more (which he hasn't been, except to scoff at, for a long time), but only in Euro terms. They should be getting out of banks and into USD and metals as ECB gets more and more desperate with deeper ZIRP and other, err, unconventional ideas. We USD folks should just hang onto our hard dollars, not metals. For all, cash may soon be the enemy (of the state), maybe as soon as 2015.75 for Europe, and outlawed as currency goes fully electronic. Metals would be officially frowned upon too. Highly speculative stuff, but then that's where the paths lead...
pailin wrote: Lemming glad you're making some good trades, be careful of positioning and volatility going into Friday jobs though :)
Lemming glad you're making some good trades, be careful of positioning and volatility going into Friday jobs though :)
Currencies flipping out. JPY back to June 2002 level. EUR dropped nicely :) :) :)
Let's see where we are around 4pm though, hopefully even stronger dollar then as I'd like to do some import transactions this weekend.
Oh and metals...well whatever the "excuse" we are heading into summer seasonal, so...
Now if we can just get a re-test (and fail) of $15.50 floor, then we'll have something to talk about :)
Just for sh-ts and giggles, joke stop...
You never know!
Added a modest limit... Not committed.
(Someone asked me to look at it...)
124% Profit banked... though 124% of not much ain't much.
Happy to leave the rest for the Momos. (If there is any.)
My boss is suitably amused.
Proper stop, big target. (This could be expensive...)
Would have put this on last night but was already on my 4th can...
(This morning my laptop rolled over and took out my charts.)
Had about as much eurobollocks as I can take...
This is all about the Dollar.
Sorry about the typo in the last post (obvs it was a short) I was being berated at lunch...
Turns out attacking big pieces of metal with grinders actually goes quite well with trading, who knew?
Right on schedule, flush into the end of month, maybe even into July. I'm waiting...and then STRIKE :) for more bullion. Should get at least low 15s, and if 15 breaks maybe much, much lower!
End of month and end of quarter.
Lemmings on the warpath...
This could end badly.
Be careful I can see an outside chance that Germany will forgive its 56B chunk of Greek debt as compensation for the WW2 loan the Nazi's forced Greece to pay. They can probably afford it.
Also with the USD flash crashing its not a currency I hold long, there are a lot safer bets out there such as the Hong Kong or Singapore dollars
I am seeing 'out of stock' on Pt items. That 10- handle is perhaps the reason?
Ag items still listed as in stock, maybe this is close to the bottom.
~250% Profit banked... (IG cocked up so I had a 99 pip stop!)
More than covers the cost of the first one, which remains open with it's original limit.
I had some Paul Tudor Jones based justification for the second trade but it's probably bollocks.
Got lucky, got away with it!
(Will probably do it again...)
Only a little bit.
Couldn't place another normal spreadbet...
(IG have got the minimum guaranteed stop distance at 500 pips!)
Never liked the Euro much anyway.
One of these days...
The SBT or Silver Bullion Trust is a fund which stands out from the others because a 'share' really is a share of unencumbered, allocated, segregated, silver.
The Sprott fund wants to gobble it up. Now why would they want that when they can easily just go and buy more phys if they need to?
Likely because the SBT is trading at a negative asset value so this is in a way cheaper than buying silver directly.
Sprott is a disappointment to the world of silver and even though he no longer manages the fund that bears his name the fund is not a friend of silver ownership in any way.
Hope this just dies on the table.
Owning these shares whether they be CEF, Sprott, SLV, whatever...big time joke on the little guy. They are only for trading not buy 'n hold. I understand the concerns up in Canada, but from my POV...who cares who owns which fund...in and out for a trade, no more, no less. Anything deeper than that, you should be vaulting your own bullion anyway (on site or off, your choice). And even then...bullion? Armstrong has me more than half convinced that's all marketing bs anyway. We're all of us buried in GLOBAL problems (which is why tiny ol' Greece if fcking EVERYTHING up), a very complex web of moving parts...one country or another going on a "standard" (of whatever stripe) will not do much to change the complexion of the picture. Money always flow to where it's treated best (or mistreated least). Right now that's USD-denominated assets. Tomorrow? Who knows, but the flow will tell you, not website dudes trying to scare you into taking out a second mortgage to bury yourself in (his company's) bullion!
Off to Turkey and Spain on Thursday. Could I have planned this trip any better? Grand Bazaar, meet SSK. Actually, meet Mrs. SSK. Got to love going to a country whose currency just hit an all time low against yours. Erdogan, thank you for you overszed pride.
So, how about MUX at $.95? ABX at $10.50? SLW at $17.50. I haven't looked at too many of them, but RGLD is the only one I see that isn't at the 52 wk low. Most miners are at a 5- year low. I'm going to set some buys at 10% lower and just let er rip.
Correction: just looked at HL for the first time in ages. How is that dog not sniffing 52 wk low? SSK does not like HL.
Meanwhile, I'll be in the Basque country sipping Patxaran and blowing Yankee dollars on whole bonitos. Pailin would surely not approve!!
Never thought we'd actually see the day Greece gets booted from EU. And gold goes down. But so it goes.
I sooooo don't get this market in gold. Hold nothing. Worry not a thing.
Capitulation— the end is nigh. Except that thought is how you go broke in the metals market.
Gotta love it. So I dig into HL for 30 seconds and find out the CFO and VP (same guy-- that how they roll at HL) just dumped about a gazillion shares. Almost as if on cue for a rare SSK posting,