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Moral of the story is...keep stacking.
Of course. If major funds are liquidating their positions then yeah. I doubted your original call because I really didn't think it was about shorts covering. Turned out its because funds are dumping without sensitivity to price. The weekly still has RSI in the 40s so I could agree with you that late next week could be a potential buying target. $25 is realistic, $20 is not.
No panic selling, just a few major funds being liquidated. I'm going to load the boat next week as we should be a few trading days away from a bottom.
Looking at buying more calls tomorrow. A few more days of selling then we are back off to the races. USD is going to 72 in 2013. Paulson is not panicking, they are liquidating a few major gold/silver funds for reasons that don't have anything to do with being bearish/bullish.
CME raised margins weeks ago. We're good.
LOL. $20 is funny.
I love how they take it down at the same time everyday. Where are the regulators?
Its not panic. A few major funds are being liquidated. Changes nothing.
When analyzing this chart one can conclude that either gold is lagging or it is leading. IMO this decoupling won't last very long. When it ends, either equities and yields are going to eat it, or gold is going to rocket back towards the mean.
Its all controlled by VWAP algo trading. Markets have been destroyed.
Silver chart that matters is weekly, NOT daily. Its a pretty laughable notion to think that silver is dipping into the mid $20s. Nothing about our economic situation has changed other than the amount of money we keep printing. Lots of money has pulled out after the election. 6 trading days left and we resume liftoff.
Rating agency Standard & Poor's on Tuesday raised Greece's sovereign credit rating to B-minus with a stable outlook from selective default, citing its European partners' efforts to keep the country part of the euro.
http://www.cnbc.com/id/100324997
Once these shorts cover and tax selling stops...we may literally go to the moon with the EUR soaring.
Lots of money taking tax losses now to offset next years gains imo. Things could turn around quick after xmas. IMO end of week will be prime to add to long positions as premiums on calls will be entirely eroded. Also a lot of people just waiting for December to be over when there is more certainty about this "fiscal cliff" crap.
Temporary decoupling won't last past December.
I dont care if its rigged. If you know how to play the game you will make money. I think that buying options 4-6 months out is a cheap way to expose yourself to a lot of upside and minimal downside even if its "rigged paper."
Thinking about loading some long term calls in the money by the end of the week.
Tax selling is winding down. Each day the force behind it is less than the previous one.
Thats gonna be one helluva squeeze.
US already is $300B in the hole just for the first two months of FY13 which started Oct 1. Automatic spending cuts just chip into the massive spending hikes.
Technical Conditions
The fund manager quoted above also mentioned technical evidence that allegedly indicates a growing likelihood of a bigger correction. We don't see it, at least not yet. Rather, it looks like gold remains in a normal consolidation. On the weekly chart depicted below, we have indicated the major areas of lateral support (blue dotted lines) and resistance (red dotted lines). As long as prices are between these levels, the chart remains neutral. Should one of these levels be broken, then one can reasonably argue that a technically significant change has occurred, but not before.
To us the chart actually looks bullish, since most of the time, drawn out multi-month consolidations of this type turn out to be continuation formations. However, there can obviously be no guarantee of that – we will have to wait and see. What we can say though is that should the indicated support level break, then obviously a deeper correction will be underway and one would have to take a look at lower support levels (there are several price congestion areas that are candidates for such). Conversely, a break-out above resistance would likely lead to a rally the size of which correlates in some manner with the length and breadth of the preceding consolidation.
http://www.zerohedge.com/news/2012-12-14/guest-post-investment-everybody-loves-hate
Thats only ~$250K worth of slack.
Its just tracking equities, which are set to implode.
Obamanomics is finally going to catch up to us.
Looking to heavily short SPY.
Smart folks are buying the dips because the decoupling won't last for long and metals will have A LOT of ground to make up.
We'll see on the USD. The Fed is purchasing almost 100% of newly issued bonds from primary dealers. More and more countries are being downgraded. ALL fiat is being destroyed. If USD breaks 79, the next bottom is 72.
NSS should be illegal. If we all can't do it, nobody should be allowed to.
SLV vs SLW really matters? They both are going to track the price of spot and if the markets are manipulated then EVERYTHING will be manipulated.
I would love to believe this is a shake, but I'm not so sure.
CPI has largest decline since 2008. BDI dropped 8% in one night earlier this week. TBH this is really starting to look like 2008 part deux with heavy downward deflation pressure from a severe lack of demand.
Was Robert Prechter correct this entire time?
When you really think about it, the inflation bubble started back in the 1970s and we've had 40 years of it.
http://www.zerohedge.com/news/2012-12-14/cpi-drops-03-largest-decline-december-2008#comment-3062412
Does anyone have a chart that shows the VWAP for daily and weekly?
Buy the rumor, sell the news. Blah, blah, blah.
Silver
Silver and gold
Silver and gold
Silver and gold
Ev'ryone wishes
For silver and gold
How do you measure
It's worth?
Just by the pleasure it
Gives here on Earth
Silver and gold
Silver and gold
Mean so much more
When I see
Silver
And gold decorations
On ev'ry Christmas tree
Silver, silver and gold
Silver, silver and gold
Silver and gold
Silver and gold
Silver and gold
Wise men brought gifts
To the mange I'm told
Mary was humble to see
Shepherds and kings
There on bended knees
It's silver and gold
Silver and gold
Feeling the world
With their lives
Silver and gold
How they shimmer
On ev'ry Christmas night
On ev'ry Christmas night
Silver
Silver and gold
2012 didn't have unsterilized bond purchases. Only way silver is under $35 by March is if the entire market turns drastically negative.
Not sure why people would sell or short. $40 by March. Get in now while premiums on options have disappeared.
The drainage of AAA quality collateral continues as S&P cuts it outlook on the United Kingdom to negative...
*BANK OF ENGLAND OUTLOOK TO NEGATIVE FROM STABLE: S&P
*UNITED KINGDOM OUTLOOK TO NEGATIVE FROM STABLE BY S&P
Everything is going to deflate if more countries keep high levels of debt:GDP.
Yeah monthly options expire every third Friday of the month.