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Gold futures just passed $1,500. Silver touches $43.70. Nobody could have possibly seen this coming (certainly not the shorts). Time for CNBC to break out the "$1,500" hats.
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You sure you weren't too close to that nasty looking hook in your avatar? That would burst a lot of things.
Unfortunately when I first created my name I spaced the words. The Hook avatar fits in to my theme of being stuck in the anal-phase, as my name is...
Hook, Line and Sphincter. Quite the unpleasant combination!
the results of dollar debasement displayed for all to see.
I wonder if the theme song to MASH keeps playing over and over in the Bernanke's head?...You know the song...Suicide is Painless...
"Was that...was that good?"
http://en.vidivodo.com/326314/stewie-_-suicide-is-painless
Makes perfect sense. New all time high gold price...and the market is bouncing. Someone really should put S&P on the short bus and get him to special school.
In the meantime, freakin' iron ore miners apparently think they are gold miners. Uh huh. And gay fashion does not know enough to do "the meteor" dance.
All makes perfect sense. Nothing to see here...buy the Roach Motel [SPY]...which looks as if it is actually made of corpses.
Freakin' bumper crop of cosmic bunny holes today...and I'm sure it bodes well for the close.
I hear the $75 hand towels from BBY, $9 Chip burritos and $300 LuLu leotard outfits are all the rage in the tent cities this summer!
Dog,
I'm afraid to ask, but are there actually $75 hand towels?
As for burritos, the bad news train being ignored over there is about to get all plungy and screamy. The $9 burrito crowd obviously suffers from the same dissociative disorder that Obama has, choosing today [T -1 day S&P mother of all downgrades] to talk about just how much money he is prepared to spend in order to make sure things are fair.
Can you give me a hand up out of this freakin' cosmic bunny hole, dog?
Well, $75 hand towels at BBY may be a bit of an exageration, but not by much! I had a girlfriend who worked there and the prices are ridiculous. Yes I did hear Bama say hes looking under the couch cushions and is certain that method will lead to big defecit reductions.
No help as far as the bunny wornhole, we're all up in it!
Well, as long as Bama has a plan...yes he can...I guess.
I'm going to be sure never to go to BBY, dog...'cause if their hand towels are even close to that, I don't want to see them.
I don't want to be in the cosmic bunny hole anymore, either. I don't. I don't want to be up the Banana Republic Tree, either...or in the wasteland that Ben Bernanke made. I'm tired of living in a world where burritos are $9, and momentum in iron ore prices keeps pace with gold. And I'm really, really tired of watching the criminal syndicate known as Wall Street rape my currency. I'm very angry about this, dog...really, really angry!
The New Amerikan Burritos will contain 75% more sawdust.
Just as filling, people....no worries.
Brother Truth,
Apparently you have not been listening to Jim Cramer, because if you had you would have heard him say "food with integrity" at least 10 times per week. Then again, if anyone listened to anyone, they might have listened to the management during the last $9 burrito cc [or $11 if you include the Norvatis products needed to scrape the rice out of your intestines after eating one] when said management told everyone that their forward earnings reports were going to suck because growth was going to suck and margins were going to suck, too.
But I guess mostly people listen to Cramer say "Chipotle" at least 20 times a week...to keep the algo's active on the issue...but what the fuck to I know, brother Truth...because the criminal syndicate known as Wall Street always says that "price is truth" and the price goes up more each time the news gets bad until I'm afraid that as soon as I start glowing from Fukushima isotopes...I'll finally be kick ass!
You know what I mean, brother truth? .....'cause I don't...and I'm stuck down here in this cosmic bunny hole right next to the banana republic tree on the edge of the wasteland...and I'm gettin' kinda confused.
I know exactly how you're feeling.
At times like these, I take solace in knowing that every time I've seen such insanity and illogic in the past, it always ended - badly for many who suspended their belief of what is and isn't real and tried to partake - but it did end.
I doubt this time will see any exception to what is an immutable law of nature.
Thanks brother Truth,
I hear you too...even as RSI on the Roach Motel [SPY] goes to infinity again on volume that requires a microscope to see. Funny...trading on the long side used to be hard. The current market pays the worst long side trader every single day.
Kind of like if a tree falls in a forest when no one is there, isn't it the case that a market that pays the dumbest long side guy every single day...isn't it no longer a market? Isn't it a Ponzi?
I don't rightly know, 'cause I'm so dumb that I would have thought that gold making a new high would have caused the market to at least pause...and maybe ask itself a question like, "If everyone is running into gold out of sheer terror about what Ben Bernanke is doing to dollars, what the fuck am I doing up here?" You know, a simple question...but alas, the answer is not there and I'm stuck down here wondering where the fuck B. Quick is now that she pumped the sheeple into financials again this morning before heading off to go shopping on Madison Avenue with the bribe cash she must be receiving on a daily basis right now for creating excitement around "earnings beats." Wow, what a nice job she did this morning directing slaughter animals into Goldman.
Yikes, brother Truth...can you give me a hand out of this hole? You know, if B. Quick is not up there.
FArewell my friends, it's time for me to go. Am officially the biggest idiot in world history, even bigger than George Bush.
Buy you can still catch me on Kitco with the new chick "interviewing" me, ha ha HA HA HA
No, no! Don't go JonNadler!
Better get cracking re hiring some trolls, they have been mysteriously MIA lately...
...
I quite agree re the cutie interviewing you at kitco, keep her on board!
It is strangely, eerily calm in the gold-related threads lately --- has Cass Sunstein recalled all the trolls for emergency advanced psyops training?
why do you have to bring Bush and politics into this...keep it simple - go down alone...
good one :-)
Butt butt george bush still has lots and lots of idiotic life left in him. Just stick around for the Jeb Bush 2012 presidency running. You will have so much room left to run after that.
John Williams released his hyperinflation report yesterday to non-subscribers: http://www.shadowstats.com/article/hyperinflation-special-report-2011
Published March 15th, 2011... definitely worth the read/repost Tyler.
Damn, that's a long report. Cliff notes, please.
Sure no problem.
"...Buy gold and silver..."
And groceries. Lots, and lots of groceries.
im just starting to stock up on food... I think im going to live off of peanut butter. What are some "must haves"?
Rice, Pinto Beans, Spaghetti noodles, Wheat, Chili Powder, Garlic, Pepper, Sugar, Honey, Molasses , One hell of a spice rack
All cheap and all can make a variety of meals with just a leavening of meat.
I've been leavening my meat on my wife's huge spice rack for years already. WHEEEEEE!
I'm storing:
Most of this shit I just had anyway because I buy in bulk, only recently have I actually thought about turning into a sever hoarder.
I'm doing the same, costo rice and beans, but also some Mountain House...lots of bottled water, camping stuff, a little silver and gold, vitimins and "greens" pill form and water. Water Bobs are good and hold 100 gallons ea.
I need more ammo though...and PMs....and no garden in suburbia.
Read and reposted. Thank you very much for this information. JP
Thank You.
Wow, 10-11 JPM attack on silver gets smacked AGAIN!
Must . . .take . . .profits . . . maintain . . .discipline . . .ahh, f**k it. Long and strong!
Fuck taking profits. Get rich.
Yes.
+ $1500
+ $43.70
as a confirmed goldnsilverbug this is a borderline contrarian indicator for me. if it wasn't on ZH 'd be really worried.
As a confirmed fundamentalist, you have nothing to be worried about. The fact that you read zerohedge, a site that gets nowhere near as much traffic as Perez Hilton is an indicator that whether you're a bug, or not, you're smarter than the average bear.
Trust me, it won't be time to exit your silver position for some time.
i have no intention of exiting anything that isnt printed, and I dont have much of that.
no offence, #justsayin
Yeah. I was going to say. You crazeh foo' ;)
Good man.
Whether you realize it or not, your point is sharper than the one on my head.
haha I like to think I understand the implications of most of what I type ;)
YESTERDAY's drop was one hell of a raid. (~ 43.40 - 42.20)
Today is a speedbump.
Time for CNBC to break out the "$1,500" hats.
I wish I could adequately type gut wrenching laughter. 'Lol'?
smack that bitch up....
The world is falling apart and im having a party....
Not bad, considering all the "profit taking" that's been going on.
Do I hear robo-faker and meth head in the distance? "$5 to dig out of the ground. Yoga pants also still selling like hotcakes. Therefore gold and silver will crash. It's just like the real estate bubble."
Fucking bubbles.
also known as Federal Reserve Notes
say that again. but again, "more slowly."
fuuuhhhckiiinnng bbbuuubbbleszzzz
hey...I resent that!
You resent Blythe saying she is fucking you? She's almost hot if she wasn't so evil.
Gold has been money for the past 5,000 years and will be money for another 5,000 years after the U.S. Dollar becomes worth less than toilet paper.
I don't understand all these gold graphs Spot gold graph sucks but read on Kitco an high of $1,499.40 o/z ? http://icharts.kitco.com/KitcoCharts/index.jsp
try:
http://netdania.com/Products/live-streaming-currency-exchange-rates/real...
Click "Instruments" to drop the menu of different commodities down.
And, try:
http://www.tfmetalsreport.blogspot.com/ And read it. The blog. For to learn things.There are different markets; spot gold is gold for immediate delivery, gold futures are for future delivery. Futures are "normally" higher then spot as the price "should" be higher on delivery date in a bull market. If this is new to you look up contango, backwardation and comex default; important concepts to be aware of right now.... always remember gold (silver) in your hand is always worth more then a piece of paper that says you own gold.
The American Dream, great 30 min cartoon that explains money/gold in some detail, worth watching if you haven't already.
http://www.youtube.com/watch?v=ZPWH5TlbloU
Wicked! Thank You!
Anyone ballsy enough with a gold short yet?
Curious as to how extended we get in the PMs before a decent pullback - havent had one in a while. And miners are still not trending like they were a few weeks ago in line with Au/Ag.
"Gold short" ahahahaaahaahhh Have you bin drinkin? Or are you an underpayed Soros chump Agent Provocateur?
You ain't seen notin yet. Golds going to rocket when the dollar goes to zero.
I love laughing at people flash trading gold and silver, hillarious! Just buy and hold physical, crush the banksters, come out the other side of total implosion with real assets.
NOP, Physical and when the Comex is played to extreems by the bizarre reversed PPT the physical market will be the real price and the Comex and SLV will become obsolite, a joke, a laughing stock. But could blow up just the same.
So let's get Physical with your fat paper bug ass http://youtu.be/O0e1Y5FXNWs
by all means "short treasuries" if you wish. "You have been warned" have you not?
"Anyone ballsy enough with a gold short yet? "
Yea, I heard they were ramping up to print tons of it....
And the "smart money" hits the sell button at $1,500?
I'm outta here.....
Why don't you post up the entire month chart? That one looks kind of weak because it's just showing a small sell off and not where gold was a week ago compared to where it is now.
Fag.
why not go "all in" and "ask for a ten year." you...you....
Because then it shows proof that gold's in a bubble.
... ;)
Here's the chart Robo...pay attention son.
http://www.the-privateer.com/chart/gold-pf.html
I like going to the bottom of the page and scrolling up slowly.
Do NOT flag this into oblivion.
He proudly stuffed it up there thinking it would show a big drop and it's stuck on 1500. LOL
Just the paper baby, just the paper.
the six month chart of GS looks almost as bad as BAC. wonder what else they have in common?
you guys crack me up with your mindless hatred of Robot Trader no matter what he posts
I've seen a few gems posted that were pertinent to the discussion; good thing I know how to ignore the high schoolesque group think bullshit
Just because everyone hates you doesn't mean it's group think, it could mean you just suck.
Errr, not you redpill. That was meant for Creed.
My apologies :D
Are you the guy that wears the blink-182 t-shirt to the blink 182 concert? Don't be that guy.
If you're a fucking douche, you're a fucking douche. ZeroHedge has been, and will be about calling it like it is. Not about opinions or heresay. What Robo said was gay, he himself should know it's pointless to show an intraday chart regarding something like Gold much less base an entire argument on it.
Sure it got "raided" and there was a "sell off" but what the fuck? Look at the trend. I would be concerned if we hit a 200-DMA or something like that, then I'd want to see that intraday chart. Not the one where it shot up nearly $20 then went down $4.90.
It's $1,495.20 right now per OUNCE of gold. I will be excited when it moves more than a fraction of a percent. I want to see the $100 days we know are coming. That's when I want Robo to post his gay charts.
But until then...
Get the fuck out of here with that nonsense.
LOL you wish you were the smart money Robo! Anyhoo, back to polishing your imaginary gilt-edged UST's.
you forgot to add "grrrrrrrrr." that's my way of expressing a dog "growl." "grrrrrrrr."
Robo knows, and hes abandoned Ol Catfishmouth for this new b cup heroin-chic girl. I dont like her.
no doubt plenty of people thought that at $1000...how did that work out?
But you were never "in" there
Exactly. He's totally full of shit. Most likely unemployed and just a daydreamer with zero capital. All he does is spout random comments and try to take credit for the ones that turn out right. "Robo-faker" = complete and utter fucking fraud.
how can the smart money get out of gold when you say only dumbasses and perma-gloomers invest in gold?
Christ, it's like you're fucking seven.
Never heard even number resistance.
No wonder you are getting the shit beat out of you on a daily basis by an inert lump of metal.
"smart money" sold at $1000, LOL!
"I'm outta here----" Well, don't let the door hit you in the ass on the way out, sweety.
aww i fired off my party popper, but its back down to 1497
thanks Ben, thanks thanks thanks every liar is good for my health
http://www.youtube.com/watch?v=JNDcuVMnFbc
Gave in a bit and took some worthless fiat today. Need to be heavily invested overnight in PMs though. This trend has been attacked for months, and . . . well . . .
I smell QE3 coming...no?? I just sharted.
Silver bitchez!
You also follow a shite indicator!
We posted simultaneously. Jinx
If we see $2000 gold coming (in perhaps a year's time or less?...please, please, please?), and if the silver:gold ratio falls to even a nominal 25:1, then we're still talking about a nice $80/toz silver. Almost double the spot reported today. It could get even better than that.
I'm still buying.
Gold bugs getting euphoric
Nervous nellies like me about to
Shite in my.pants.
The intermediate top for this cycle must be near
But it may get crazier still.
Shhh.
Actually, I'm watching the "worst of the worst" gold stocks like AEM, and they are doing pretty well.
If gold topped out at $1,500, those stocks would be crushed by 6% already, as the panic-stricken F12-punching, bit-flipping CIGA's would be running for the exits as the PigMen front run the GLD collapse.
But so far, as long as the gold stocks are acting OK, rally on....
Now if I could only pray for another XAU rally and get the XAU to Gold ratio back up to the highs of the range, I'll dump these miserable mining shares out of my IRA account once and for all....
LOL.....
Robo, I saw you and Johnny Bravo in a naked embrace along an interstate rest stop, consoling each other.
Stay strong & only switch hit if it really feels right for you.
http://en.wikipedia.org/wiki/Psychological_projection
you might want to put SNDA on your radar. jus sayin'
for somebody who says only dumbasses and perma-gloomers living in a bunker invest in gold you sure talk and post alot on the subject. i guess anything will do to distract you from the miserable performance of your portfoilio.
in any event i guess you've resorted to prayer (good) rather than your own expert analysis to save yourself.
btw: is hope, prayer and wishing a good investing strategy?
No difference CNBC or ZH when you call the number....short against 1500..looking for a sharp pullback...trade is more crowded then the A train.
Conspiracy theory of the hour-
If there is indeed an April delivery problem for JPM at the end of April, the next 10 days could be very interesting. Their unwind pattern has clarified itself. Their hope now can only be that it is a slow grind higher, but they are in the unenviable position of having to buy every dip (ironic ain't it.)
Just look at at the 2 week chart.
They are crapping their pant!
We'll soon be on television: "evil speculators bring down JPM, the bank that saved America"
I think I will tape that :)
Big rumors on real legal issues for Uncle Sugar Buffet AND Goldman Sachs.
Will link when credibility gets some momentum.
"momentum trading" credibility? What type of "sunshine" you smokin'? I WANT some!
Gold & Silver, Bitchez!
http://www.youtube.com/watch?v=ZNGe7iK1O-4
Yeah, baby, yeah! http://youtu.be/J2HBdRCroks
Go for Gold - Party! http://youtu.be/i5N3p2we_og
Yessssss!!!! Gold Always believe in …. Gold, Your indestructible, GOLD!!! http://youtu.be/rVuwXM9u2ps
Bring The Gold http://youtu.be/_qO66Rmi1Mw
GOLD http://youtu.be/lmJpJdjZERE
The Ecstasy of Gold (Enio Moricone) – Film Footage http://youtu.be/2PwpOmjAu1M
Gold isn't nearly as overextended as silver is. When silver goes, it's going to hurt a LOT of people. Gold really is safer.
And right on cue from the peanut gallery.
Any decent correction/dip will be bought heavily.
Blinkers still on?
Define "decent". Still anyone doubt that silver will see the low 30's again?
I'll make that call Danger. You will not see low 30's for silver ever again. You might see a severe pull back if we get 2008 redux to 38-40 range if it broke down further maybe 34-36. I even doubt we will see a pull back, I bet silver just trades flat for a month or so once it hits 48+ an ounce.
Well glad someone here has balls. While I disagree with your numbers, I still respect your stand.
These hillbillies like to call names but run like cowards when anyone challenges them to post their own predictions.
What he just said Danger.
I have stated many times that silver will eventually go over three digits, and gold into the multi thousands. Okay?
In the meantime, BTFD.
Long term is the easy call, and I agree with yours.
We just differ on short term. And right now is not a dip.
It's a dip in the sense that in a short time from now, it will be cheaper than it is at that present time.
Silver, bitches.
I believe the other name for that is chasing the bid.
When I bought at $14 I wasn't sure, when I bought at $17 I wasn't sure, when I bought at $22 I wasn't sure, when I bought at $25, $27, $28, $31, $33 and $36 I wasn't sure.
I guess I was just chasing the bid though.
When I bought at $4.50, $7 and $10 I was sure too.
Seems I figured out it was a new Bull market long before you did.
Yes, you, MothMan, Balding_Snails, JohnnyBravo, and Lobot(omized)Trader ALL have perfect 20/20 vision --- in hindsight and after the fact, of course. Funny how that one factor unites all the precious metals trolls and haters.
You weren't there to see those trades, but you're here for this one.
Let class begin.
+$1497
That would be my opinion as well. You could also look at this as gold being on sale vs. silver.
Well silver almost at $44 and your silver short is kicking your ass.
Silver Puts bought when slv was at 42 plus change and is now shy of 43 so hardly kicking my ass. THe higher it goes, the more I scale in.
I have a feeling you will be regretting your puts by the end of the week.
I may wish I had bought the puts one day later, however I have an October expiration date and six months is a LONG time for me to hit paydirt.
Fortunes are lost when trying to get the perfect top or bottom.
I believe it was JP Morgan who was asked, "How'd you get so rich, Mr Morgan?"
"I sold too soon," he replied.
I think this summer would be the best bet for a pull back, you might be right though if we have $5 dollar gas all summer I suspect the economy, and everything with it, take a dump in the fall.
Gold and silver almost always turn back in the late spring and summer. They are very seasonal.
Add to that the extrememly overbought S&P, oversold USD and USB and the near end of QE2 and we should have a nice little correction. That doesn't event count the hyperbullishness of everyone and their mother about silver.
Good point on gas.
In what fantasy world is "everyone and their mother" hyperbullish on silver? Go out and ask the vast, vast majority of Americans what they think about silver, and most would probably answer either jewelry or tooth fillings, if they even think of it at all.
Your disingenuous crap and attempts to downtalk silver are SO patently obvious!
The vast majority of americans will not be in silver for 6-8 more years. But each phase of the silver bull market has it's new buyers and I posit that we are just about filled to the brim with all of the buyers we are going to get on this round.
I am not attempting to talk down silver, in fact, I would not mind at all if it shot to $50 tomorrow, if will just make the fall that much harder (and more profitable) over the next few months.
What you and all the other blinkered center-thinkers terminally stuck in the status-quo continue to fail to realize is that what we are living through today is not just some routine precious metals "bull market", or just another typical economic cycle, but the drawn-out death of the current financial and monetary paradigm. You should be placing your bets accordingly.
This death sure is taking a long time, I've been hearing about it for almost ten years now.
In any case, I have physical so I'm not too concerned.
Major historical transitions rarely occur within a one-day or one-week time frame.
I agree. And this is not one of those times, hence the coming correction before we can resume this bull-market.
You are blind (or a willful liar).
And you will suffer greatly for it.
And I will shed not one tear for center-thinkers such as yourself, who refuse to use the eyes and brains that they were born with and to think for themselves, instead of pulling their comfortable and well-worn status-quo blanket over their heads when real danger threatens.
So you are suggesting that the last ten years are culminating in this very moment of financial armageddon? Is this the end? How long do we have? Days? Weeks?
Who said anything about an imminent culmination?
What would a "culmination" of current events even entail? I don't know, and neither do you. That does nothing to deny that we ARE experiencing a fundamental financial and monetary realignment.
God, you are SO fucking disingenuous! You have not one clue how to converse or debate honestly or rationally.
You keep making nebulous claims like "it's the end of the world" or "this time it is different".
I am being very rational. It is quite simple, but your frustration is in your inability to prove me wrong.
I posit that gold and silver are in a 20 year bull market that ebbs and flows. Right now we are overextended, as tends to happen in stages of a bull market. Thus we will correct over the course of the next few months, in which I intend to profit nicely.
I am not so sure why that is hard to understand or why you think this particular upleg of silver is suddenly different than the last several we have had since 2000.
Your smug arrogance and repeated avoidance of directly confronting the issues raised by others here prove you to be either a troll purposely spreading doubt and disinformation regarding the precious metals, or just another blind center-thinker who cannot see past the intellectual walls built for him by the financial and political Establishment.
I am plainly stating that it is wrong to try to compare what is happening in the precious metals arena today to the ups and downs of a typical market cycle. It is the whole SYSTEM that is changing, not just the prices of particular assets within that system.
Or are you going to try to deny that such fundamental, systemic realignments EVER happen? Yes, they do, and yes, sometimes things ARE different. Wake the Hell up!
I think you are just unable to understand or comprehend my answer.
My continued answer to your assertation is that the system is definitely changing but it will not be done changing for another 6-8 years.
For now, it is still the cycles. And to be perfectly clear, even the end that occurs in 8 years will just be a larger version of this current cycle. It is at that point that we really will see every joe-blow talking about silver and the return of gold chain wearing Mr. T's that pity the fools who do not own precious metals.
.
"Must ... worship ... status-quo .... must ... never .... question .... status-quo .... must ... never ... challenge .... my .... Establishment .... programming .......
Wrong, wrong, wrong. What we ARE going to see is the absolute death of the current worldwide monetary system, and most likely (and hopefully!) a reintegration of gold (and maybe silver) back into it.
You continue to implicitly assume that "all is normal" and "there's nothing to see here", and to deny that earth-shaking events are in the offing. You either lie, or deceive yourself. Either way, I have nothing but contempt for you.
What part of my "change won't be finished for 6-8 years" do you not get? I am not disagreeing with the assertation that the fiat monetary system is dying.
What I am saying is that it will NOT die UNTIL the 6-8 time frame has passed. This just a cycle on the path to that destruction.
This is what I mean when you morons claim the world is ending. Yes it is, but it is a PROCESS. It will not happen in this leg of the bull market.
LOL what BS - your SLV puts would be worthless.
Not when SLV comes back to the 30's. And just think, I will have bought a load of them when silver was at $50......
Oh the blood in the streets there will be from the silver longs.....
You are obviously a troll or moron then. So you will buy puts from $42 all the way to $50+ which means you have no clue where the short term top is but are willing to bankrupt yourself trying to pick the top - OK.
Perhaps you should look at your silver history.
Silver tends to correct in a matter of six weeks give or take a week. If you had half a brain, you would already know that.
dup
"hardly" the SLV OCT 40 were $3.60+ when you bought them and they are $3.10 now - pretty nice loss for a few days.
I bought the 33's and 37's, not 40. And like I said, October is 180 days away and I'm quite confident I will sell for a nice gain.
Down over 25% - gl with that
More like 10%, but then it seems math is not your strong suit.
This is why we dollar cost average.
LOL whatever - genius to throw good money after bad.
And brilliant to keep buying an asset after it's gone up 100% in six months.
LOL you know nothing of my position or buying and I would never tell you.