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Apmex Starts Reverse Inquiry: Seeks To Buy "Any Quantity" Of Silver From Clients At $3 Over Spot
Over the past hour Zero Hedge has been inundated with reader comments notifying us that Ampex has, validating the earlier post speculating about a possible silver shortage at the metals distributor, launched a "reverse ïnquiry" in which it will pay "you $3.00 over the current spot price of Silver for your Silver American Eagles. ANY year, ANY quantity!" and "We will pay you $38.00 over the current spot price of Gold for your Gold American Eagles. ANY year, ANY quantity!" So aside from this first public confirmation that one of the biggest wholesale retailers of precious metals is now inventoryless [sic], we can certainly see why Asia has decided to take silver down in the afterhours electronic session.
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lol, you think 74.21 is so high up.
Last week anyone would have called that a fucking disaster, along with any of the prices of anything we see now.
74 . . . I mean really. Just think about that. Our 'dollar' is a disgrace. These price levels for the dollar should lead every news show until Benny bot is tarred, feathered, and ridden out on a rail.
Bad dollar bad dollar what ya going to do?
What ya going to do when 72 comes for you?
TGIF Every weekend a golden oportunity to keep it together for one more week.
I'm not going to take issue with what you're saying. No one knows what is going to happen, and you have a lovely strong opinion.
However, I will say that you talk like a fucking retard.
Angry troll is angry
Yeah, he's angry that he had to switch to a new screen name.
Yea the dollar is really kickin ass at 74, spectacular.
Short term dollar rally yippie.. silver needs a break anyway. healthy dip imo
<insert pithy spooge comment here>
My 84 year old father has 200 plus ounces of silver. My parents will cash it in and take a cruiseship vacation. They likes to gamble and eat.
Well guys, that is it. The top is in. It is all over, I was hoping to catch it before everything went down forever. What a dump in after hours, Oh my God, 11.00 and over 20 off the high. It is over. And soon silver will be 40 again. It, it, is almost down .90 cents. What am I to do. Why can't I ever get it right.
Finally, the 86th top is in. I guess I need to sell all and buy Robots TZOO and load up on CMG. Well, it has been a good ride all. And it is now Timmys world.
What a bunch of wimps some of you are. When it goes over 10% give me a call. Long all. I do not believe this. Buy dollars. Geesh.
Monopoly, So what if it's down a bit, this is a delivery week Jagg off. May 4 we will see the new high. You will find that Monopoly money (that your obviously vested in) will be trashed shortly. The market swings like a pendulum, you know, like my balls slapping your chin.
The Bad Guy...
I'm pretty sure he was being sarcastic, esp. making note of the fact that silver hit new 30+ year highs like... every 3 hours over the past few days.
pssst ... he was being sarcastic
LMFAO
Let the manipulators play their little price games. The best they can do nowadays is take the price down for a day or two. Then the increased demand of investors buying spotty supplies of silver on the dips will force the price back up like a beach ball released under water!
No think they are going to be forced to let it float up 38.7 percent to still fail to fill orders which put's it at 65. Then panic and let it float up to 90.
I don't think there's time to fuck around. I think they will let it float soon as they clean out some sofa's in foreign markets.
Looks like we got a few trolls floating around guys. Gotta luv it.
Listening to all you guys for months, I finally bought some silver 6-7 months ago. I remember the postlady who delivered it for my signature..."Sure is a HEAVY package". Looking at those shiny bars in my hand got me hooked. Nope, not selling, will buy more if there is a dip. Anyone who has bought some knows that feeling. You need strong hands for that weight.
This new band of trolls smell of desperation. They know who got the silver, the people are all right here! Rather pathetic trolls too, using the same MO as the guys on Yahoo message boards trying to make you dump your holdings. It ain't working.
Is the Fed STILL doing QE? -- check
Is the Housing market STILL going down? -- check
Is Fraudclosure STILL unresolved? -- check
Is the US Govt. STILL spending $Trillions? -- check
Is the $/bbl of Oil STILL rising? - check
Is the Dollar Index STILL trending down? -- check
So, I'm supposed to sell Au & Ag because someone on the interwebz sees unicorns pooping skittles? Don't think so!
Anyone have a webpage link where this was taken from?
http://aucanary.blogspot.com/2011/04/i-got-apmex-buy-email-today-too.html
It was in an email to past customers who have purchased a significant amount of PM from the APMEX in the past.
A free trading exchange called SPOTMEX opened last week and there are more buyers in with bids than sellers. Most of the sellers and bullion was gone last night. The exchange is just getting started but there is nobody to "prime the pump". Stella Concepts has been priming it a bit, but anthing near spot goes quickly. Just look at the buy orders compared to sell orders. http://bit.ly/gwAk2j
Lease our physical to them.
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So, how is this good news for silver?
Oh, wait..., never mind.
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I got the email from them. I interpreted it the same as ZH: "they must not have much silver". Or, more likely, a very large purchaser appeared quietly and said they need physical, asking them to solicit for sellers. KITCO is a good company and they are trustworthy. If I wanted to sell 500 ounces (who does? probably nobody, therefore this offer won't amount to much) I'd take them up on this deal. My local coin shop always has a hardluck story about not really wanting to buy, I hear the way they treat people bringing in silver to sell. They always want to pay spot for eagles, maybe $1 over spot. Here is KITCO offering $3 over. Hey Kitco you are probably reading this. High five to you guys for being able to make this offer.
That's not a great offer. I sold to them last year and got the stated price on their website. Just as it is stated now. They better jack that price up for me to even think about it.
The word, "Trolls", is now the most overused word in the World of Language.
I'd like to recommend that it now be considered for the trash heap.
You've beaten it to death so give it a goddamned rest and try using or creating a new one, fer Krissakes!
umm..."Pricks", "JackAsses", "Plants", "Agitators", "Tators", "DamnFools"?
I would argue "risk-free" is much more overused, as it is a word used to describe Treasuries!
Also, please understand that it takes more that just being bearish on gold or silver to be a troll. You also have to have just registered, or rarely posted prior to a given pullback in price, and then come out swinging claiming the price is going to fall immediately without any actual logical reasoning (they may have arguments, but those arguments fall apart on anything closer than a cursory inspection). They further have to be extremely emotionally invested in these crappy arguments, and post dozens of times in threads on the subject, and develop deep, personal hatred of anyone who calls them out.
They may also change names often as their credibility is quickly lost with each new high in silver or gold. This is not necessary, though it happens with extreme regularity with these sub-human homunculi.
APMEX is not buying all SAEs for $3 over spot --- only the 2011 edition. Other bullion (10oz and 100oz) is about $1.20 over spot.
It'll be taken down tonight and tomorrow because it's op/expiry. Everyone calme the fuck down. This shit is so predictable. Wait for the dip and then slam yer cocks or fists into blythes ass. It gets easier every month.
agreed, options expiry does have a decent chance of price drops. dates for 2011 in gold:
Contract Month Expiry Date
January 12 December 2010
February 26 January 2011
March 23 February 2011
April 28 March 2011
May 26 April 2011
June 25 May 2011
July 27 June 2011
August 26 July 2011
September 25 August 2011
October 27 September 2011
November 26 October 2011
Decemeber 22 November 2011
apologies for 'orrible formatting, can't get a table to work.
APMEX is not buying all SAEs for $3 over spot --- only the 2011 edition. Other bullion (10oz and 100oz) is about $1.20 over spot.
"ANY year, ANY quantity" .. so says the email.
Right thats why it says ANY year...you must act now and panic sell like a typical panicky sheeple.
Top 5 things that only cost 5 dollars to dig out of the ground.
5. Robo's sincerity.
4. Mathman's IQ.
3. Dangerman's dick in the dirt.
2. 12 million copies of coping with sociopaths and psychopaths buried by Obama's information czar.
1. The really super huge stone table trillion dollar bill hidden at Mount Rushmore with not 1 not 2 but 3 presidents on it's face.
I think the the FRN junked you. Me? I spit my wine.
Cheers brother Hephasteus! To those who've gone before!
I think number 1 should have been 5 million shares of the new General Motors Stock.
Throw in free one month subcriptions to Netflix ending in credit card billing 2 seconds after you sign up just like AOL ended and I'll add it!!!
Looks like ApeMex just upped the ante. I said no to the 3 over spot. They replied with the following.............
"OK, fine, well throw in an oz of coke as well. Deal?"
I dont know, should I bite?
A hooker perhaps??
I dont know man, shipping would be brutal.
I doubt they'd go for it.
In grandmothers' 1933 Sears and Roebuck catalogue cocaine was $33 an oz. delivered by UPS. History repeats itself and all?
.-- . + .- .-. . + ... .. -. -.- .. -. --. + ..-. .- ... - + .--. .- ... ... . -. --. . .-. ... + -... . .. -. --. + .--. ..- - + .. -. - --- + -... --- .- - ...
Oooo. Tho Thenthitive.
No. It's just reader's reMORSE.
i wouldnt sell an ounce for $300 if it would help Jamie Dimon and JPM
just took out the US lows @45.5
can i claim a 60 day wait on clearing their check before i send goods?
shot across the bow. the world telling the us not to implement qe3. thats all. starve your own people but protect our financial power first. the end is near. the empire will collapse upon itself because the power behind the power wants it to.
tptb have stopped being human. i've got to go , dancing with the stars is on.
Pretty interesting take, I'd agree this all worries me theres a shitload of desperation and weird stuff going on.
http://www.youtube.com/watch?v=6_5O-nUiZ_0
play the game under pressure.
http://www.youtube.com/watch?v=a01QQZyl-_I&feature=fvwrel
or?
http://www.youtube.com/watch?v=z4rMuugQnBk
sorry for the bullshit, take it with salt in the ground. one makes things grow.
So, silver is back to the same price it rang in at 5 days ago...yep, definitely a well grounded reason to panic.
/eyeroll
I'm mildly annoyed, to be honest; wanted to pick up some more Eagles at closer to $40. Maybe the Asians will help me out tonight...
Delivery will force the transition to supply/demand price discovery in silver, can't be stopped for long.
silver just breached 45, the panic begins now.
For strong hands the time to buy will be under 45.. But no doubt lots of leveraged players and new buyers wont have the courage or ability to hang on in this.
Interesting days.
Oh no. The panic. The fear. The trembling hands. The yawning. Oh sorry was just yawning. The horrible horrible panic something or other. The intense focus of the poor defensless pray animal. The shitty god who build the shitty body for the stupid shitty pray animal so it could dump gallons and gallons of adreneline into it's system and fall over and be eaten by the lion.
Let's go watch the fainting goats. The big bad boogie men are stareing at them.
http://www.youtube.com/watch?v=we9_CdNPuJg
Strange, I don't feel very panicky. I just look at the stuff in the drawer and it hasn't changed a bit.
x
When less than 1% of investment dollars are in PMs it's kind of hard to think it's in bubble territory. Silver has just reached its previous all-time high while gold is almost twice its all-time high. That tells me silver still has a long way to go before it's in bubble territory. Buy the dip.
x
Aw, crap! I just ordered 10 silver eagles from Northwest Territorial Mint on Thursday...wonder if there will be an issue getting those.
5 $ move .buck up the truck!
Silver will reach $100 by September.
Thats what I'm hoping for. Bought at $34 in March from ABC Bullion in Australia but they cant supply it until mid May (1kg pamp bars) so just gotta sit back and see what happens. Hope this is just a small hiccup!
Fuck the buy...Buy fuck the...Dip the fuck...damn it, how does it go again?
Bernanke is bi, and a fucking dip.
BTFD. i am expecting a load of FRNS in the next couple of weeks. Hope this correction lasts until i am ready, but i doubt it will. Would be lovely to get the next batch in the low 40s.
I had to sell my SLV (silver)...I mean the price was ridiculously high (up 50% since jan 1st?!)
Time to switch to oil which is still ridiculously low imho:
"Here's Stuart Staniford's answer:
You may call it unable, or you may call it unwilling. But whatever you want to call it, don't pretend that the Saudis' claimed excess capacity is oil that the world is actually going to use in 2011.
And whatever you want to call it, don't pretend that the current price of oil has nothing to do with supply and demand."
http://www.econbrowser.com/archives/2011/04/saudi_oil_produ_4.html
GL! whatever you do!
agreed, oil is very cheap to to the metals.
The price was taken down by the Fucking Pig-Dog Manipulators...
For those few who questioned the drop.
Fuck You's PPT....
Bob Moriarty's now a silver troll!
http://silverdoctors.blogspot.com/2011/04/bob-moriarty-now-silver-troll....
Yes, Moriarty is sounding as hyperbolically hateful and irrational towards silver as Jon Nadler has long been towards gold. Really pathetic to see a man suffer such an intellectual breakdown on full public display.
how can you guys sit here and defend a market that can trade down more than 10% in less than 12 hrs?
Strange... another troll registered since 48 weeks with only ~10 messages posted, each having something to do with PMs.
did u miss the comment about using the term troll? its over bro
i love how i get flagged junk just for bucking the trend. freedom haters.
Give it up MC. These guys are idiots that think PM's should shoot the moon all in one sitting.
Morons.
You only care about the price if you're selling or buying. Today is selling day. Maybe bit tomorrow. Wednesday is buying day. But honestly if your buying better do it at pm fix tomorrow. Silver's a big girl. She can defend herself.
But you know. We are upsetting a great number of people and it's causing a lot of turmoil and frustration. So I'll tell ya what. I promise we'll all pull out of silver within a year. And I promise to make regulations that will make all these horrible mean apple cart upsetting silver buyers respect the governments right to predation of it's citizens. So i'm calling on everybody to WIN the day. Share the suffering and not create rifts between those citizens who are getting brutally fucked over by their government and those citizens who have chosen to remain immune to it.
Yes we can promise something and not stick to it just to get you cooperation a little bit longer.
My wife has about a metric ton of silver jewelry and service sets, mostly from Iran and India, I would sell them that, although she would not. Not sure of the purity.
Silver is way over bought, off the charts, and due for a correction. When the correction comes the bottom will be an important mark because it will set up the next set of fibo numbers. The bigger the selloff the bigger the upside the next time it hits new highs.
China is a big buyer. It imported 3500 tonnes in 2010. In feb 2011 China has added Silver and Platinum to Gold as part of it's reserves. China is anxious to get rid of the toilet paper called US Dollars.
I'm mildly annoyed too. A lovely buyable dip and I'm too broke atm to take advantage of it.
Oh well. Will have to go fondle my physical to cheer myself up.
Did anyone try phoning Apmex and haggling up their margin over spot? Could be an interesting way to judge their desperation. Perhaps they accepted a bunch of purchase orders based on an expected shipment, cashed the cheques, and now their shipment has fallen through? "Delivery not possible"?
For those who've bought and paid for physical, and are nervously waiting out the current one to two months delivery delay (here in Sydney Australia) 'delivery failures' would be very bad news. Fortunately I have no outstanding orders, but I do know someone who's waiting on $10K worth, due early May.
Sounds like our situation, went in hard and ordered 90kg of 1kg silver pamp barsin March, wont be here until early to mid May so they better be able to deliver. Wont relax until it gets here.
Whoops, I meant we ordered in March and it wont be available until May. (Apparently ABC Bullion didnt know there were 5 Fridays in April) so it mucked all the orders up.
One downside of the Silver Liberation Army, is that so often others turn out to have 'liberated' much more than oneself. 90Kg <green with envy> Otoh, most of mine was bought at around $850/Kg, so there.
Well, good luck. I'm expecting that at some point the 'supply shortage' will develop to actual supply failures. It seems pretty clear that if silver ever does go 'mania', there simply won't be enough physical supply to meet even a tiny fraction of the demand. And won't _ever_ be, so the question of how the downside of the mania would go is interesting.
But hopefully such events won't be for a while yet.
It was a pretty scary thing to do but hopefully no supply failures until after ours arrives.
I emailed them back and said I would swap them silver for gaold at a 1/1 ratio!
Probably a little too hopeful there. Give it a year or two, then offer again. If you still think it's a good deal for you.
(Not kidding at all.)
volatile
http://www.youtube.com/watch?v=_b777kDnLbU
I'm a physical AE silver holder as well. I put up my coins on eBay earlier today. The transaction costs are high to sell (8% from eBay, 2.9% from PayPal) but it allows me to sell the rips. From a technical perspective, /SI looks like it wants to go down to $42, at which point I will back the truck up and double my previous position. In the mean time, if anybody wants to buy my coins tonight, be my guest.
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=300551118995
Yep, we came very far very quickly. So, a pullback is on the cards. My charts (Metatrader 4 via Oanda) show initial support at $41.60. If we break that I could see us trading down to the low-mid $30's before gathering steam again. I'd be a huge buyer at $33.
I bought lots of SAE's from Apmex last year and I am not selling them until silver/oz reaches a high 3 or low 4 digit number.
Why is it that 99% of the posts on here are either completely anti-silver or completely pro-silver with very few people expressing a more balanced point of view? I rarely post here but have been reading the site regularly for a couple years.
Me, I own some silver and gold as insurance. I actually bought miners (slv & cde) and paper (slv) back in December '09 when silver was at $9.xx. I unfortunately sold when silver hit around $17 and after CDE had gone up about 150%. I for the most part stayed out until buying some physical in the mid 20's. Heck, I even loaded up on some gold and silver proofs since I didn't mind overpaying because I see it as insurance and not an attempt to make money (that is what paper is for). I stayed out of the paper market until the past few days when I started accumulating ZSL. I have held tight through a couple big drops, but now after averaging in, I should be up a decent amount at the open tomorrow if this holds overnight.
I am diversified. Everyone should have PM's, cash, food and ammo. I am not criticizing anyone, and certainly a lot of money has been made being long silver, but if this is really about self-preservation, then you are still best off being diversified. I have not put a large percentage of money into physical, but enough that if everything does go to hell....I have insurance. Likewise, if the Fed and the devil Bernanke decide to take down commodities, I will take the loss and know I have a nice amount of cash in hand. Really, I just want to play it so that whichever way this goes...I will be OK. Maybe I will not be in as great of shape as if I played it all out exactly right, but really what are the chances of that?
I believe the fundamentals are there for PM's, but I have generally been burned playing fundamentals the last couple years. I despise the Fed, but I don't doubt that they have the ability to take down whatever they want, whenver they want. This is a big part of the reason I loaded up on ZSL the past few trading days, because I have a hunch that Ben wants to do more QE, but he can't do that unless he can first strenghten the dollar and take down commodities. Doing so gives him some cushion room moving forward to weaken the currency and allow for another runup in commodities. I do not know what the end game is, what I do know is that I will be putting in my stop losses tomorrow on my ZSL. If silver reverses, I will be stopped out with a small profit. If it continues the decline, I will make a little more cash. If it drops down into the $30's, I will buy some more physical (in small amounts). If silver reverses and goes over $50, I will probably once again buy physical because like I said...I don't mind buying high, if it appears that the dollar will continue to crash and silver increase...then I will pay a premium just to have the insurance.
I am going to wait this out and see which way it goes, and I think all of us would be well served to do the same. If you have a reasonable amount of physical, certainly hold onto it. If you have too great a percentage of your portfolio in physical and it continues to crash, please for your own sake take some off the table. Like I said, don't put anything past the fed. We should never let our stuborness (bull or bear) get in the way of doing what is best for ourselves and our family. In my opinion, the best we could all do is be prepared for any possibility, even if that means having a good percentage of your portfolio in fiat.
Just my opinion, hopefully nobody junks this...as people are far to quick to junk anything that doesn't agree 100% with their view.
And my point is proven. Haha, 2 junks already. The intelligence and discussion in the zerohedge community continues to degrade daily at even a faster rate than fiat currencies. Intelligent conversation is pretty much absent around here, save a few members. The content is still good, but the following commentary is quickly approaching the level of yahoo finance message boards.
Yep. ZH is beginning to remind me of the Yahoo! & Raging Bull message boards circa 1999. But, the occasional insightful comment does creep through.
Yes, and evidently it is easier to just junk a comment than to provide an intelligent response. Or, perhaps the junk button is there for those incapable of providing said intelligent response?
I can see exactly what goes through people's minds on here......"Ummm, I am not sure how to respond to that but I don't agree since it goes against my blind, brainwashed view and I am incapable of intelligent conversation, I'll just junk it.....that will show them."
See, here's the thing -- it is possible to provide a reasonable, intelligent opinion in such a smug, condescending, in-your-face flaunting-my-superiority complex manner that it's the delivery, not the content, that receives the junk. While I disagree with several of your premises, I do not find your views unreasonable or without merit. Does not stop me from wanting to suggest painful activities involving your face and various industrial abrasives. Yet I will refrain from doing so, since that would only reinforce your view that all here have a "blind, brainwashed view" and are " incapable of intelligent conversation".
Also, despite claiming to be a reader for years, you fail to notice that there are permanent trolls on each thread who methodically junk all posts except those of other trolls.
Lose some of the self-important, holier-than-thou airs, and the reasonable will listen to you. The rest you shouldn't care about anyway. Otherwise, don't be surprised at the occasional kick in the rear for your troubles.
Yes, my follow up posts were admittedly condescending, but that was only after receiving 3 junks in a matter of 5 minutes on my original post. There was nothing condescending in my original post, just simply an open-minded view that could basically be summed up as: everyone should own PM's (physical) but that no matter how confident we are of where things are heading, it is risky to tie up your entire savings in PM's. So, the condescending posts were directed only at those who are so emotional and stubborn that they automatically junk whatever goes against their thought process.
I could be wrong, and I realize that....but I can sleep better at night knowing that no matter which direction this whole thing turns, I will be prepared. I just hope everyone else is as well.
And CD, I appreciate your response (industrial abrasives and all), because you actually provided some food for thought. I don’t mind being told I am wrong or even being called names, I have a pretty thick skin and if you are going to post here then you have to be ready for that. If an attitude shows, it is not a superiority-complex, but just related to the fact that I tend to get very frustrated when people will not discuss something. I would honestly rather have someone call me every name in the book and explain why they think I am wrong, rather than just hit the ‘junk’ button. I enjoy the discussion, debate and opposing points of view. You are right though, there are a lot of trolls around here and I should have expected such and not let it bother me so much. From now on I will ignore the trolls and enjoy the discussion that goes on with those who are actually trying to contribute.
And the reason you expected not to get junked is what again? Telling us to be "diversified"? Telling us to sell physical if it continues to move down?
Most ZH's on here have been bullish on PM's for a long time. They've been accumulating physical for a long time. Which means they bought at levels which affords them to sit back and watch without any pain for a long time. Why were they buying? Because they all know the deflationary hole ChairSatan is trying to fill is.....INFINITE. That's why. Print, print again, and print yet again TheChairSatan must and print he will.
So even if the FED makes an "all in" play against PMs, ZHs know the FED bluff will be short lived. What's the ChairSatan going to do, play a strong hand against PMs, while the financial system around him collapses? He'll fold that's what he'll do.
I didn't junk you but I was tempted, for no other reason that I think you made the right play with ZSL but for all the wrong reasons. Like a wise old Turk used to say though, I'd rather be lucky than smart any day. My only word of caution to you, take your profits and don't overplay your hand. The ChairSatan hasn't done away with the Heidelbergs, he's merely taking a breather to service them.....and that is something you can trade with confidence.
I never said sell all of your PM's. For those who have been accumulating since single digits, teens, 20's, etc.....why worry about a drop? What I get the sense of though, is a lot of people are investing the vast majority of their savings RIGHT NOW, and I just think that is a mistake. I said that I am not selling my PM's, and I will buy more whether it dips to the $30's or surges into the $50's, but I will keep a handle on how much of my wealth I invest.
As for my play with ZSL, I was willing to take rhe risk. I don't see it as a stupid move, because I control what I am willing to lose but saw an opportunity. As I stated, my stop losses will be set at the open tomorrow, if silver pops, I will be out with a small profit. I have the same disdain towards the fed and Bernanke as you, and I agree fundamentally with what you are saying. The difference between you and I (and I am not saying you are wrong, I may very well be), is that I don't think anything is certain. What everyone thinks will come true certainly should come true, but I have seen enough to know that what seems certain, rarely is. That is why I was simply suggesting that what we think we know, is rarely 100% correct and that IF you are someone who is just now starting to invest their entire savings into PM's (as some on here state they are doing), I don't think that is a good idea. We should be prepared for all possibilities, even if that means giving up some profits.
It's a bit late to be talking about zsl or stocks. Would have made a good conversation a couple years ago but now things are serious.
quality commentary on silver. I've never seen two sides of a market despise each other as much as silver these days.
The 'anti-silver' side are all paid shills, so don't have any personal emotional stake in the metal. What they do have is a lot of self-loathing, so it's natural this shows in their posts. And their nics and avatars too, if you pay attention to the subtle conceptual associations.
But kind sir, this is nothing compared to YOUR quality commentary on silver and PMs in general:
yea, definitely time to exit silver or gold positions and flip short. if the fed raises by 75 bps by the end of year, oil will have 8 handle, silver below 25$ and preety much the entire commodity complex will go lower. 3/31 #1122946
looks bubblicious to me, 3/24 #1094670
Now you can make your Tin-foil hats out of Gold. 6/14/2010 #411929
Funny thing, it seems the only items of interest enough to merit your expert opinion were a) silver & gold and b) Fed monetary policy. The gist can be distilled to: Fed knows exactly what they are doing, ZH is a bunch of half-literate rubes to suggest otherwise -- and precious metals may possibly be useful for making women's jewelry, but are otherwise beneath contempt as an asset class (let alone monetary vehicle). Your persistence and consistency are breathtaking.End QE. Silver and gold tank.
End QE and close the US down.
There will be 10% +/- days. I know the majority of silver guys here are physical guys, but for you physical guys looking to play with some paper, or you paper guys looking to max out your paper in order to pickup some physical AG, lead and food... I've been trading commodities for a while. I've been trading silver exclusively for about 5 years now and have decided to take my trading system public.
My system leverages paper exposure while remaining hedged to and potentially profiting from takedowns and selloffs. It does this by providing core and enhanced beta exposure to the primary trend while opportunistically collecting income via covered options and short spreads. The system manages risk by optimizing hedge protection based on volatility and capital at risk. It's a subscription service that you can autotrade from your brokerage account, but you can follow the performance at my website for free. Keep an eye to see how well the system performs during silver drawdowns and the inevitable parabolic collapse before the next runup...
http://silveroptions.collective2.com
My first post @ ZH. It'll be short as it is past bedtime.
The time to buy is when nobody wants in. The time to sell is when everybody wants in.
Your marbles are rolling around in the darkness.
Lost Marbles -- welcome on board the good ship ZH, prepare for turbulent seas ahead...
The rest of the original post was my mistake, oops.
Actually along with silver at $100, Gold at $2400 , seeing Ben, Alan, Timmy, Jaimie, Hank and their comrades ( those with their hands in the taxpayer's till) behind bars at the same time is my wish and dream.
What? No trolls??? Must be a top!
Oh... I'm a troll. SLV is safe for another day!
Silver was down to 44,7 overnight (10% below top) , now is at 46. Still 8% below the intraday peak of 49,8.
AMPEX... Yeah, I going to sell them my physical gold for a $38 over spot premium and have a wheelbarrow full of confetti dollars that the bankers are printing as fast as possible...diluting those in my wheelbarrow. Not to mention pay a 30% tax on my gains as earned income. LOL
Real smart move, eh? No thanks AMPEX... I will wait till we cross these troubled financial waters on my gold/silver bridge.