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do you still see silver at 50 Friday?
who is your group?
I would love to hear your sentiments on the market in general for the coming weeks :)
thanks and keep up the awesome work!!!!!
D
Nailed this one solid.............
Tomorrow is a notorious beat down day for silver so we will dip to 10.50
low for the day was 10.50!
Wednesday we will begin to see it take a big breath and head back up to 11.32
nice call for the way back up but it did exceed the predicted amount (I ain't complaining)
Thursday silver starts to rock eod close of 11.87
well we are already .10 over that so I hope you are wrong on this one :) ( again though he/she still predicted up so I guess it counts for something)
Friday all bets are off, we are going to drive silver back up to the 50 range after 1:30 comex close EXK close for friday will be 12.18
Friday all bets are off, we are going to drive silver back up to the 50 range after 1:30 comex close EXK close for friday will be 12.18
if the poster didn't anticipate this to gain so quickly maybe we can add a dollar to this one and see 13.18??????
D
I have to admit he/she has been pretty much bang on so far, its funny you get so used to these type of predictions you tend to ignore them and then someone comes along and nails it and now I find myself hoping they post again!
D
thanks ! not a bad way to start here up .40 on my first day:) heres looking to a fantastic run into month end
D
in @ 3.15 today, glad I waited had a buy all last month @ 3.50 and it expired. this needs to find a solid bottom and bounce hard soon. Whats your take on the next bottom and where do you see the first resistance level on a leg back up?
my thoughts
bottom 2.90
resistance 4.20
D
o.k good call on the 10.50 today, you have me interested! "timeline for the rest of the week still look the same?
thanks for the post will check back
were you really a mm?
D
really important resistance broken in silver today, we move with silver so get ready for one hell of a ride, 32 tomorrow?
D
Man they are kickin silver hard this p.m. got it down to 30.08 so far hopefully they can't break 30.
D
Up 7 cents in after hours check out this info on silver holdings
Silver:
-OI rises a lot
-ZERO oz's received into the dealer AND customer vaults
-HUGE withdrawal from dealer (200, 792 oz's)and out of ALL registered vaults
-Incredibly large adjustment of 642, 786 oz's
-1, 430, 000 standing this month (no change form yesterday)
SLV: no physical left the vaults (there is probably nothing in them anyway)
from turds sight also this is a good read from trader Dan
A quick comment about silver – those of you who have been tuning in to my weekly radio interviews with Eric King over at King World News have heard us discuss its technical price chart. I am still watching for a strong close above the $30 level for a sign that this market is ready to kick up another leg higher. One can see the action of the Bears attempting to hold it down below this level by watching the 3 minute bar chart, as they realize what such a close would mean to their positions. Going into the close, it is apparent that they failed. If silver can stay above $30 the rest of the day, odds now favor a test of the recent high in short order. Keep in mind, as we discussed on our recent radio interview, the COT report shows that last week the hedge funds (managed money) finally began increasing their net long exposure after having whittled that down for the last couple of months. They are now returning to this market and doing so from a sharply reduced long side exposure. There is plenty of room available for them to begin piling back in and that is what leads me to believe that the recent high is going to fall. Also, a lot of guys sitting on the sideline waiting for silver prices to move lower so that they could buy are now realizing that they had better get in. That is what buying does – it begets more buying
Have a great night and hopefully a bright and prosperous tomorrow. If the bears are going to hit this it will be tomorrow to drive it back under 30.
IMO GLTY
D
Nice close and up to 6.39 after hours so far, thats another .13 cents to add to a gain of .33 on the day! Monday could be very interesting, especially if silver could close over 28 dollars spot today, that would make things extremely interesting :)
glty
D
what a battle silver is having with the manipulators today!!! Trying sooooooooooooo hard to break 28 if it does, next week is going to be awesome.
+2 or 3 easy if she breaks the 28 wall this is a standoff!
D
and gold was simply a "victim" of the push to drive silver down. what is extremely important to note is how hard and fast gold dropped and how strong silver held its position. They tried as hard as they could to hit 25 this week but so far no luck. The tactics are working in reverse, instead of scaring us out of the market they are giving tons of new people an entry point they feel more comfortable with. Almost a "second chance" if you will to get in before you can't afford to.
glty
D
Jackal here is an excellent take on what is going on in the markets and the world at this moment. A great read for all of us investing in EXK.
Terrorism is the best political weapon for nothing drives people harder than a fear of sudden death.- Adolf Hitler
Sometime around the year 2005, perhaps a few years before or after, America will enter the Fourth Turning. A spark will ignite a new mood. It will catalyze a Crisis. In retrospect, the spark might seem as ominous as a financial crash, as ordinary as a national election, or as trivial as a Tea Party. It could be a rapid succession of small events in which the ominous, the ordinary, and the trivial are commingled.
Remnants of the old social order will disintegrate. Political and economic trust will implode. Real hardship will beset the land, with severe distress that could involve questions of class, race, nation and empire. The very survival of the nation will feel at stake. Sometime before the year 2025, America will pass through a great gate in history, commensurate with the American Revolution, Civil War, and twin emergencies of the Great Depression
- Strauss & Howe in “The Fourth Turning” written in 1997
All people who try to get elected to government are in love with government, it’s just that the Democrats are in love with one kind of government and the Republicans are in love with another kind of government, and government is going to continue to grow until there is revulsion for government.
- Jared Dillian (he puts out a great daily piece I would look into it at http://www.dailydirtnap.com/)
The Global Revolution: Welcome to Phase Two
When first I mentioned the food riots in Tunisia and Algeria in my note two weeks ago the former authoritarian leader Zine al-Abidine Ben Ali had yet to flee to Saudi Arabia with much of his nation’s gold. What I find so amazing about this whole situation is why someone in their right mind would take the time to take some shiny little element that is in a bubble and that you can’t eat in the chaos surrounding one’s escape to another nation. Surely he has hidden foreign bank accounts and since gold is just another “fiat” currency according to a Wall Street strategist, why bother? He must be some right-wing radical that likes the Constitution and is therefore anti-American. Isn’t that right Mr. Potok?
So back to the food situation. When I say that we are in Phase Two I am actually not referring to the simple fact that a leader with a 23 year rule under his belt was deposed in weeks seemingly out of nowhere, I am referring to the actions that are being taken and will be taken all over the world in response. As I have said time and time again, government’s today throughout the world could care less about their citizens. When they show signs of caring it is merely to satiate the people back to sleep so that they can stay in control. The leaders of governments throughout the world today consist of the worst humanity has to offer. The most egomaniacal, narcissistic specimens on the planet (with some exceptions of course, Ron Paul for one). They care about power and maintaining it. So what does this have to do with food? A lot. I have stated in the past that we are in revolutionary times. The system that has existed for most of our lives (all of my life) is crumbling under its own weight of insanity, immorality and fraud. The last ditch effort by the global elites has been to flood the world with money and make sure nothing they are invested in ever fails or defaults. This bought them a little time and their hope was that rising asset prices would boost confidence and lead to a recovery that could maybe keep this scam monetary system running for another decade or two. The problem with this strategy is that we are in the Fourth Turning. My generation is coming into its own and we don’t buy the bull shit of our parents’ generation. We don’t believe in Democrat or Republican. We don’t believe in the system itself. We will be the ones making the decisions going forward. We will default on the astronomic promises our parents made to themselves. We will create an entirely new monetary and financial system. Real free-market capitalism will flourish, not this socialism for the rich garbage Obama loves so much. We will focus on doing good while doing well. Not because the government forces us to, rather because we are witness to and victims of this sick, twisted creation of our parents generation that celebrates total greed without the slightest concern of the consequences to others.
With this as a backdrop, the leaders of all nations are scrambling to somehow survive in their positions through this time period. What is happening across the emerging world now is countries that had increased prices for food and energy are reversing policy. Countries such as Saudi Arabia are bidding for world grain supplies. Think about this for a minute. What this means is that what is being employed around the world at a time of global crop failures is essentially price controls. What happens when you have price controls? No elasticity of demand. What does that lead to? Even worse supply/demand imbalances and ultimately food shortages and everything goes to the black market and farmers stop planting as much. So what we now have is the very beginning of a food price spiral that will lead to prices in dollars at unimaginable heights. I would start to be very careful of the quality of food you buy and where it comes from. I assume companies will start mixing in all sort of fillers and garbage into their foods. Especially in emerging markets looks for increases in tainted or corrupt food supplies.
This will also affect oil prices and they should move substantially higher. While people still quote WTI as the oil price and claim it is down, this is total and complete nonsense. Nobody pays WTI prices. Brent is $98/b and Asia Tapis is $101.50/b. Anyone that is telling you oil prices are moving lower are either lying or don’t know what they are talking about. For example while WTI is down 7% from recent highs, gasoline is down only 4% and heating oil is at the highs. Do you pay WTI or do you buy gasoline? There is also this idea that OPEC is going to come out and save the world by boosting production. Good luck with that. First of all, OPEC’s true spare capacity number is highly debatable and I am in the camp of those that thinks they do not have control over the market at this point. Banana Ben Bernanke does. Secondly and most importantly these Arab nations are short food and we are in a food crisis. They are also amongst the most vulnerable governments to overthrow. You think for a second that they will crash oil as food prices are soaring? Oil is their currency. For what it is worth I think many of these regimes will be history within a year. Then the Western governments will fall one by one. This is the Fourth Turning. There is no point trying to stop it, the only thing you can do is prepare. There is precious little time left for that.
U.S. Treasury Bond Holders Will Never Be Paid
Remember the old saying, “if you don’t know who the sucker is in the market, you are the sucker.” Well ladies and gentlemen if you own U.S. treasury bond you are the sucker. There is one way these things will be paid back. With completely worthless pieces of paper, OR not paid back at all. The one thing linearly thinking investors are not appreciating right now is that there is a gigantic awakening occurring in the United States that will develop into a successful and peaceful revolution. The new leaders that will emerge will consider this debt illegitimate as I do personally. It will not be paid. Think it can’t happen? Watch.
Meanwhile, looking at the chart of long term treasury yields what we see is a coiled pattern where rates have been in a tight range ever since breaking to the upside in early December. I think these rates are about to break hard in one direction and I think that direction is higher. When I looked at the commentary from the Fed yesterday and I saw this line “expectations have remained stable, and measures of underlying inflation have been trending downward,” all I could think was if I was a bond investor I would just say “alright I have had ENOUGH.” I think that some of the biggest moves ever in the history of financial markets could be coming within the next 1-2 months. I would focus on treasuries and precious metals.
Silver Disobedience
While the 20th century was a brutal and violent one, some amazing things happened. Two prophets, Martin Luther King Jr. and Mohandas Gandhi we able to usher in a period of tremendous social justice for their respective causes through non-violent means. We are now entering a time where the people (completely and totally sold out by their leaders and masters at the banks) must exercise civil disobedience and non compliance with an evil system. Fortunately for us, the most effective and powerful means of this I can think of is completely legal and consists of buying physical silver and taking possession. Although the comex paper silver price is showing a drop, this is not reflected in the physical market which is tight as a drum. Many major dealers are sold out of product all over the world and the U.S. Mint recently stated that they sold 4.7 million silver eagles in January alone, a new record and the month isn’t even over. If you do not like the way the banks and politicians are robbing you blind in broad daylight buy physical silver and take delivery. I think it is abundantly clear that the raid on the comex silver market is a desperate attempt to shake out some supplies since the actually physical market is being depleted rapidly.
One of the irrational “fears” out there is that the Fed will somehow tighten rates. Get out of the emotional brain for a second and into the logical one. The Fed funds rate is 0-25 basis points. The two year treasury yields 0.60%. If the Fed raised rates even to 0.50% with the two year note at 0.60% total and complete chaos would ensue and the government wouldn’t be able to deal with the rising costs of debt service. It is just not going to happen. They will print and print until the whole corrupt house of cards crumbles to dust.
V for Victory
Actually I am not surprised at all, we can expect these days until paper and physical become completely disconnected (and yes our little junior miner is basically physical as we "own" the company that will be pulling the silver out of the ground).
read this
I am not a technician like Turd Ferguson and other far more accomplished technical analysts so I'll leave it up to them to interpret the charts from a purely technical viewpoint.
But in my opinion, the low in silver has now been reached. I base this conclusion on the fact that Blythe could not puncture yesterday's low point. Not even close. Gold got blasted right through 1322 like a hot knife through butter yet silver stubbornly clung to the $27 level and was no where close to the $26.50 level. Believe me, if Blythe wanted silver to crack $26, she has the firepower to do it easily.
The reason that she didnt was because she must somehow realize that the people she was selling her Mar contracts to were going to be standing for delivery. Believe me she knows when these people are buying.
Which gets me to my original post. This whole slam down in precious metalsm was all about silver. Gold was just the unfortunate mechanism and instrument by which Blythe worked her magic. She slammed down gold because she knew eventually traders would not be able to stand for delivery in Feb. The gold market is just too big. But you can buy every ounce that the comex CLAIM to have with a mere $2.8 billion. Blythe has access to that type of money in the folds of her couch at The Morgue's HQ.
You can see clearly now why she needs to suppress the price of silver and force traders to cough up the Mar contracts. Once the slam down in gold no longer has the desired effect than it is time to abandon that strategy. My guess (and it is only that for now) is that we have seen the low for silver.
If she is at all competent, then she will be sending the price of silver up by at least $2 by Feb 8 to make it more difficult for hedgies to raid the Comex. But we'll have to see. Either way as long as hedgies and big investors cough up about $5 billion in Feb, then Blythe and The Morgue will be in a world of hurt.
I want to clear up another point. Some people are interpreting that I am predicting a default in March. That is definitely NOT what I am predicting. All I am predicting is that there will be massive contracts that will be standing for delivery and each one of these contracts will be offered a huge premiums which will be settled in cash. You see, it is always more profitable to buy the Mar contracts settle in cash and then buy the May contracts and do it all over again.
It is as if you buy $1 billion worth of silver, sell it for $1.2 billion and buy the exact same position for $1 billion again. You really don't lose anything and someone automatically gives you 20 percent and you get to keep your position exactly as it was before. Well not exactly because the equivalent May contracts are slightly more than the corresponding Mar contracts. It's up to you what you want to do with your money but since it was so easy in December, why not do it again in March and then again in May?
It's as if you show up with 1 ounce of silver, The Morgue pays you 120% of the value of your holding, and you go back into the pits and buy it back at face value. Nothing could be easier and they are defenseless to stop it.
I know for a fact that the silver shorters are desperately trying to come up with physical silver from anywhere they can get it--from the SLV, the US Mint, foreign ETFs, anywhere they can get physical silver. Too bad it still won't be enough.
So watch for February and see how high silver spikes up. This whole slam down was The Morgue trying to get people to stop hoarding silver, so keep buying physical silver and they will fail. Good luck to all physical silver holders. Our time is close at hand.
D
and the 6.35 after hours aint lookin to bad either :)
glty
D
on its way back there imo. eom
D
gotta love a .41 gain in 0ne day, if silver has finally managed to break its COMEX manipulation look out!
glty
D
as the separation of paper silver (ETF's) becomes increasingly greater investors turn more and more towards physical silver and solid miners that posses silver in ground and above. Endeavour is so close from shedding the "junior" status it isn't funny. This will continue to rise steadily into the double digits in my opinion. Once physical silver gets back around 30-35 (and its only a matter of time check out todays action!) this will follow it up in lock step
glty
D
3.77 has some resistance but this could easily blow through that if earning are on or over street. I have a feeling we are going to be very happy with this next report, these guys know what they are doing and keep on signing BIG contracts.
sweet semi conducter industry has gotten beaten up pretty badly last couple of weeks but it looks like we are out of the woods, blue skies ahead baby!!!!!!
looking for 5.00 easy by march
glty
d
aNYONE WANT TO BUY 10 MILLION mvby shares for sentimental value????
I'll start the bidding at a hundred bucks, these are now rare and collectible :)
D
same thing they do with every pinky that ends up a scam, NOTHING. Hate to break it to you but thats what these lotto plays are all about. We lost this one.
"If it's to good to be true it probably is"
Good luck with your next venture.
D
Someone was trying really hard to close this major red! To bad they failed, check out the link and try and say that isn't manipulation at its finest.
http://www.nasdaq.com/aspxcontent/ExtendedTradingTrades.aspx?selected=ACLS&mkttype=after
This could indicate short interest fears on this for next week, look for a big bounce back imho.
D
Endeavour Silver (AMEX: EXK) continues to stand out as an immutable engine of growth. Even after a significant retreat from recent highs, the stock remains some 82% above where it stood when I heralded a major growth spurt in the making back in August of 2010. Eager to continue an impressive six-year streak of expanding annual production volumes, Endeavour is targeting 3.7 million ounces of silver production in 2011 ... for a respectable 12.6% increase. I view near-term weakness in Endeavour's shares as an invitation to partake in one of the industry's foremost growth opportunities.
Nice
D
Hi Matt,
for me to get up on a chart do I post my buy today and # of shares @ the price and you add?
D
just posted it will add to the ibox later, this alone is reason to hold, wait until the sector settles down and more eyes get on this, could double easy :)
IMO of course
D
CHECK OUT ACLS! TSMC spends more than NT$30 billion on fab gear in December scroll down to Dec 20 2010. http://www.digitimes.com/news/a20101231PM200.html and TSMC may spend $8 bln on investment this year-report http://www.reuters.com/article/idUSTOE70I00U20110119?feedType=RSS&feedName=technology-media-telco-SP&rpc=43
BIG BIG NEWS IMO
D
I am playing svg.v for their moly reserves and exk because they are ready to jump from junior to big boys. Both are dirt cheap right now. I hold a ton (figuratively) of physical silver but only a couple of insurance ounces of gold. Its long term anyways I can't watch the spots daily, it would kill me.
D
sorry I will post the two links in a sec, thought I had here already.
lol
D
yeah and check the posts a couple down that show the 545 million spent by that Taiwan company on us so far and they figure to buy lots more this year!
off-topic you playing any junior mines?
D
imagine, they announce they have a huge signing with one of the biggest Taiwanese manufacturers and it gets dragged down. The market is way to unpredictable these days! When this bounces its gonna run hard IMO.
Nice buys!
D
in @ 5.80 today. Heres hoping these clowns that manipulate the silver prices loose this game soon and let us fly! Even if they don't this has tons of room to move up on financials alone. Soon we will be playing with the big boys!
D
still playing this at all?
D
good for you, it will bounce around with this volatile commodities market right now but its got lots of room to grow
glty
D
tough week, nothings changed with the company, actually quite the opposite great news announced, just a victim of the semi's sell off this week.
it'll be back up
D
just need to have revenue flow start up, lots of interest in the crystal sea product.
D
its only a matter of time, this pps will look silly once revenue begins to flow.
GLTY
D
IBOX HAS BEEN ADJUSTED TO REFLECT TRUE STATUS OF COMPANY AND SHAREHOLDERS.
EYES, TURN OUT THE LIGHTS WHEN YOU LEAVE.
D
yup, its been flirting with a move but the market has just been to crazy as of late. They need some news/presentation/pr to bring some volume in and it will jump up quickly
glty
D
Interested in picking up some shares does anyone know how the flooding in Australia is affecting Lynas?
Thanks in advance
D