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Flash Dash In Silver Mini Contracts On Volume Surge Breaks $30 Stops, Takes Metal Firmly Above Resistance
As the chart below shows something just snapped in Mini Silver several minutes ago, which may have been the proverbial pseudo violent break of the JPM barrier. As the price briefly shot up to well over $30.60 on just under 150 contracts, leading to a $0.30 differential with the large silver contract, an arbitrage which may put the NYSE Liffe in hot water with quite a few clients. Will this third attempt to take out the key $30 barrier prove to be the decisive one?
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Whack-a-mole is a bitch.
can someone confirm that JPM has no hedge (i.e. out of the money silver call options) other than it's long position in copper?
Otherwise, why don't we just short the shit out of JPM?
we are short - outright and puts - join in - this f*cker is going down.
Hilarious, and real:
http://www.youtube.com/watch?v=_rO8wCQUkIs
anyone get the feeling they will crush longs over night? or it's some kind of set up to get a bunch of retail hot money in to show them who's boss (for now)? I'm nervous to get back in........which means I probably should.
+1, JPM is more organized and has more friends in DC than us. They're not even really trying yet. At best a "Yellow Alert" on Jamie's R/Y/G Basel Risk Management dashboard.
I agree. But not tonight, they have to get everybody "used to" the $30 price level.
Then the stops will be set at 29.9 and alot of them. Give them at least a couple days.
With the added volitility, it could be an excuse to raise margins again and destroy the people living on the edge and pyrimiding.
Time will tell, somebody will definately pull the rug out from the longs.
Be careful, when everyone agrees on a direction -- it always changes.
And that is the best trade and of course the most dangerous. Also keep liquidity on your
side so you can get out fast when you have to. Looks like trading the mini's is out for now.
My 2 cents.
I agree....a few false break outs.....comfort at strong "support" around 30ish.....tons of stops right below....and they'll hit it hard.
Are ther any good si traders out there?
I am serious about this.
What are your ideas?
JPM is more organized and has more friends in DC than us. They're not even really trying yet.
The opposite is true. JPM is seeing the writing on the wall. They don't have the metal and are screwed, blued, and tattooed.
Yep, Biggy Ben and JPM got their panties all bound up.
Fitts? My heroin(e)?
Fuck You JPMorgan. We are going to eat your fucking bonus for lunch.
I did. I bought silver! i.e. Buying silver is shorting JPM.
Long physical bullion, long bullion stock and short JPM and banksters. And at some point short the treasuries.
“In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value...The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves. This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard.” Alan Greenspan, 1966
In terms of monetary philosophy, Greenspan is like Anakin Skywalker / Darth Vader. I don't think there's any turning him back from dark side now though.
"Let the hate flow through you" http://www.google.com/imgres?imgurl=http://www.freewebs.com/worldstarz2/anakin.bmp&imgrefurl=http://www.freewebs.com/worldstarz2/&usg=__3q_fpmeJL-oYY3dW2ANubPCtZe8=&h=278&w=317&sz=259&hl=en&start=0&zoom=1&tbnid=kED3n_QuYBXy5M:&tbnh=136&tbnw=155&prev=/images%3Fq%3Dstar%2Bwars%2Blet%2Bthe%2Bhate%2Bflow%2Bthrough%2Byou%26um%3D1%26hl%3Den%26sa%3DN%26biw%3D1209%26bih%3D691%26tbs%3Disch:1&um=1&itbs=1&iact=hc&vpx=606&vpy=68&dur=1639&hovh=210&hovw=240&tx=169&ty=167&ei=Z1v9TLjDHZbtnQeN35zICg&oei=SFv9TNbIH8Kdnwfs2aXICg&esq=9&page=1&ndsp=26&ved=1t:429,r:3,s:0
http://tinyurl.com/
nice! pledge your deliveries at http://standfordelivery.com so JP knows how screwed they are.
Unlimited zero-interest credit-line, maybe?
For all who might be wondering where we might find some resistance, check out this chart from Trader Dan. Its a few months old but worthwhile:
http://jsmineset.com/2010/10/05/silver-chart-from-trader-dan/
At 3:53 Gold just broke through. Thar she blows.
That is a great chart, and my calls have agreed (major resistence in the $21 range) and I am also waiting the day for $36, it is fast approaching. Anyone care to comment how this $30 level is causing so much resistence? Also, take a look at what gold just did.
You mean this? Remember that last Friday Gold shot up a few minutes before the 4 PM stock market close.
Lyrics to "Where have all the Alf charts gone" (where have all the flowers gone)
Where have all the Alf charts gone?
Long time passing
Where have all the Alf charts gone?
Long time ago
Where have all the Alf charts gone?
Robo has picked them every one
When will he ever learn?
When will he ever learn?
Heh, I'm so used to Robo's posts, in my mind I was trying to "undo" whatever had been done to make the performance of Gold look bad, until I realized it in fact didn't! :)
So, you a fan of B.F. Skinner or Pavlov? :>D
i'm not sure you can draw resistance conclusions from 30 years ago. in a market that has recently been massively manipulated, the fundamentals apply more than anything. there will be psychological levels all the way up. like, oh it's 30 bucks i'd better sell .. it's 35 bucks i'd better sell ... 40,45 and so on. then there's the profit resistance where most people can't hang on for a 10 bagger from here so when it gets to 50% profit or so, people let go.
i think that's where most of the resistance will come from. but as far as fundamentals go, there shouldn't be any justification for all the resistance from here on out, but thankfully that's where the supply will come from.
Oh for a second I thought this was a Robo post and a NFLX chart, but then I saw there were no boobies.
ilversay, itchezbay!
BLYTHETY BLYTEH BLYTHE BLYTHE ! DOUBLE BLYTHE!
Somebody gonna be... with giant silver dick
Good one!
LMAO!!
Yes you're getting screwed. You're bonuses are going to get fucked like chickens in a pervert brothel.
http://www.youtube.com/watch?v=CFWUm_n3-PA
Ben better s-l-o-w up the presses .must have happened while he was on 60 min. last nite
Government can’t print money properly...http://news.yahoo.com/s/yblog_thelookout/20101206/us_yblog_thelookout/go...
How ironic is it that the experts at money printing can't actually print money?
That's like 99% of the remaining American economy, measured in Dollar terms, that's being halted right there. Panic!
Resistance is futile.
Coming up 3:40 PM EST and silver stands at $30.10
JPM Bitchez, bitchez.
The people's money!
BD-H, bitchez!!
Did Blythe Masters just have an orgasm? I know I did! YIPEE!!!
I don't think women have a prostate.
Blythe might.
TSA will find it!
They have the facsimile of the prostate called the skene gland.
In fact, my woman's squirts colloidal silver.
All I want for Christmas is my two silver pieces...
will a surge in dollar bring down silver prices atleast to the mid or low 20s....
A "surge in the dollar" is nothing but a faster failure of certain other fiat currencies -- it is increasingly irrelevant to the price of PMs.
yes, a temporary surge in the dollar would be great, maybe if portugal could default or so ?
Yeah, take down the Euro, followed by a domino bank failures and sovereign defaults...and...
What a minute. That might be a good thing.
Houston, calling Houston...
Shorted some silver futures at $30 earlier . Cut out once silver broke above that resistance level again . Wasn't planning on keeping it for long anyway . Meh .
yeah well, you gain some you lose some...
Shorted some silver futures at $30 earlier
Why are you supporting crooks and banksters? Why do you hate America?
Die JPM, die.
Sing it!!...bitchz
http://www.youtube.com/watch?v=oMlqn_Hjyi8
Jump Blythe, fucking jump!
lulz
It stands to reason if China just created a GOLD ETF for its citizenry, you can bet a Silver ETF is not long behind.
This will bring with it a COMEX default and some whoop-it-up fun, in the fast lane no less.
that's exactly what we need, another chinese scam
May the USD rest in peace...of course after it's violent death by $30 silver bullets!
Don't forget copper! Sponsored by JPM--the poor man's way of getting even poorer.
or the gambler wanted to make it all back...
Silver has been strong on days the dollar has been been surging lately.
I beat APMEX and most anyone else on orders 100 oz and up. Currently selling American Silver Eagles for $32.82, with 20,000 Oz ready to ship.
http://www.palladiumtrading.com/buy-precious-metals
Make a funny cartoon video or STFU, please.
Preferably, a funny cartoon video.
http://www.xtranormal.com/watch/7960661
FAIL! He said a funny video. That was pitiful.
"Gee, I think I'm interested." From one o' these dudes? No way.
What mini silver is TD looking at? I was looking at 6Q today but didn't see this. What is TD referring to?
He is referring to silver futures at 15:18 EST
I think the REAL tipping point will be when the FED raises intrest rates sharply to fire up the bond market again and cool off metals. If nobody buys 1-year notes with a 5% yield and keep buying precious metals instead; its over for good.
They won't raise the interest rate & they won't dare try to cool off the metals. The Bernank doesn't know what the hell to do, and he won't dare try to raise interest rates.
We can only hope The Bernak goes into an endless loop and becomes frozen in time.
Its all getting a little crazy for my taste, just got me some nice, decent and very cheap puts on all my longs, you know...just for "protection" ?!
oh would that silver's rise were enough to slay the hydra headed beast....but alas, taxpayers will save the dragon.
If you knew your mythology, you'd know that you need to look into a mirror to slay that one.
SAW ANOTHER POP AT 15:52 EST TO $30.35
Woo! Gold @ $1,427. What caused that $7 jump?
Shorties gettin skeered!
Yep, love seeing them on the wrong side of that one for a change!
This is my reality TV. Watching minute by minute the silver action and all the hilarious comments! Can't stay away! Stop commenting I need to work!
dear blythe:
http://www.youtube.com/watch?v=c0VwFq3-UI0
Great Vid, love me some TC
Thievery Corporation - The Numbers Game
http://www.youtube.com/watch?v=G1s1BkjLj84&feature=BF&list=MLGxdCwVVULXfoAsMyhwAfuFPh--XpcqWp&index=3
did my part. in addition to usual weekly coin purchases went directly to mint and bought 20 proof silver eagles.
Kill JPM!
Kill JPM!
Kill JPM!
dear blythe:
http://www.youtube.com/watch?v=c0VwFq3-UI0
I just dumped SLV and moved into PSLV
Screw JPM!
I small step for man.....
Great move! Congratulations.
Smart move. I just wish I bought more PSLV on the IPO.
Smart move!
Bought 10 eagles myself.
Eagles make a great christmas gift!
In addition, it makes others aware of silver.
Boom! Gold explodes upwards 9$ in one minute, 3:56 pm Eastern. My guess is, a huge short position covered. YEEEEAH, thats what I'm talkin 'bout- better cover all your shorts, manipulators.
Long live the Rebel Alliance.
P.S. All you nay-sayers who doubted the eminent MR. Ferguson and his 1500 by 12/10/10 call wanna chime in here? (crickets chirping)
$1500 by 12/10/10???
Yes please. Pretty please?
With a (Gold) cherry on top?
The UPS truck just brought an unidentified box. Inside was my complimentary holiday popcorn tin and a holiday card from APMEX. I like being the client.
All I got from APMEX was a card telling me I would get popcorn as well if only I was a mad buyer like Dagny Taggart.
Damn. :>)
Wow, they better freakin send me a gift this year!
When my daughter comes home from school on the 20th, she gets to help me eat said popcorn!
Damn. Now I'm jealous. I bought all my silver in person with cash. Lots of cash.
But do I get a holiday popcorn tin? NO!
Okay, they don't know who I am or where I am. But I'd still like some friggin' popcorn in one of those cool metal tins. I'm still using my last non-investment popcorn tin as a trash can. (Thanks Mom!)
Those EEs are getting rangtanged (gold/silver) by the BoS!
Special thanks to Santa, Keiser, TD/Marla (ZH), Harvey, Jesse, Turd and a lot others!
Just in case:
http://www.urbandictionary.com/define.php?term=rangtang
I forgot. I think they are getting silver dingleberries!!
I think you missed it by a week Mr. Ferguson. Going to need one more wednesday and thursday in hell to drive that far.
Well Blythe,you nip to the loo for 10 minutes and anything can happen,soon be on food stamps unless Uncle Bens got a spare shed ............ all the best,etc,etc,etc.
I helped. Bought 350 more shares of PSLV today. Looking to sell some dogs and get 500 more.
Wild ride
Help me out boys. I got some physical silver. But I would like to buy some calls, cause I want to gamble that this sucker is gonna blow soon. :) But SLV has JPMorgan as its custodian. So seems like I should steer clear of that. Is there some other way to go long long? (I'm kinda new at this so don't laugh too hard!) Oh yeah, and I'm in Europe-don't know if that matters.
Thanks in advance.
Be prepared for incredible volatility, so do not use margin and only put out there what your willing to lose.
Yeah, I know about sigma, but I need some symbols.
pslv slv sivr sil paas ssri hl slw svm cde agq
There are no options for PSLV. Why is that?
And SLV is managed by JPM, so I thought I should avoid that.
Can I trust the custodian for SIVR? Fund summary on yahoo seems kinda dicey.
Help me out here guys. I am buying physical and that is all fine and good. BUT, I WANTS TO GAMBOL ON SOME LONG SHOTS. How can I do it? If we crash JPM, will I get paid off????
Can somebody help this newbie out?
Thanks in advance!
CDE This stock had a 10 for 1 reverse spilt a few years ago.
Look at the numbers for revenue, earnings, and prospects.
About $27, Best Price in group.
I think its quite undervalued at the price. Is loaded with silver.
HL Another huge producer, long history. About $11.25
Both mine the other metals also.
I do not own either one and neither do family members.
Am considering buying.
The only safe way to go is physical silver, otherwise the yo-yo chart of the metal will drive you nuts. There are a lot of good PM stocks out there, GDXJ has strong gold stocks and WITE is a new ETF combining the "white" metals. Check out the commentary at KITCO--the expert there was saying once $30 was breached, the metal should run up through the $30s.
I don't mind any yo-yo. And for the moment I'm not interested in gold. I want a physical metal fund, eft, or whatever that 1) is for silver, 2) can be trusted to pay me off when I hit big time, and 3) has options.
The Sprott fund seemed pretty good but doesn't have options.
My dedication to JPM.
http://www.youtube.com/watch?v=UnB3CHwPipU
and mine...
http://www.youtube.com/watch?v=9TYezSrzUUs
nice
Been maintaining strategy consistently with mixed fiat success: buy physical silver at any price at regular intervals, short paper silver with each move up.
Here is a potentially big problem for the good guys (us). This was passed by both houses of Congress and sent to the president yesterday. Looks like the government is going to mint far fewer coins.
Mike Zielinski of the Gold and Silver Blog has uncovered another telling sign of the increasing desperation of the U.S. government's campaign to suppress gold and silver prices.
Zielinski reports that new legislation passed by the House and Senate -- H.R. 6162, the Coin Modernization, Oversight, and Continuity Act of 2010 -- which awaits action by President Obama, diminishes the obligation of the Treasury Department to make gold and silver coins available to the public.
Current law requires the department to mint gold and silver coins "in quantities sufficient to meet public demand."
The new law would require the department to mint gold and silver coins "in quantities and qualities that the secretary determines are sufficient to meet public demand."
Works for me. I don't like paying the extra buck+ per ounce just so it says United Snakes on it. Just give me .999 silver and I'll deal with the fact that it's missing a bird on it.
..apmex is ou of 10 oz bars.
And what was the exact high…?
30.666 !!!
That number again…
Perth Mint will be happy to be of service I imagine. They have a new on-line store where I bought some yummy 2011 Koala silver coins.
In the US I can see capital controls will be next, can't have the peasants with access to pm's.
3 legged goat
ate my silver..
jpig morgue! That's all!!
Great new film ........... The Silver Mile ................ Dead Bank Crawling,Dead Bank Crawling....
Watch the video and exlcusive interview of Infamous Washington Crook Ben Bernanke "Rare CBS Interview!! Ben Bernanke 100% Certain of Economic Recovery – Just like in 2007” at (http://www.youtube.com/watch?v=jtl_jHhNXWo).
by Anonymous
And that is a? spot on answer. Bendover and grab your ankles America.
He knows his head is about to roll. His lies have just kicked into some super gear/w/nitro.
I saw Smithonian Magazine Dec. issue has an ad from a TX coin dealer, they can sell you a prerelease 2011 American Silver Eagle coin for $28, and shipped free (limit one only at this price). Their phone number is
800-323-5055
I just ordered one, so this works. Just in case they ask the IC#, which is
2SM1210
Oh, and in a total non-sequitur - Iran is 'this close' to producing a nuclear bomb. How much silver does it take to make a nuke? Probably none. How much silver will you need to buy bread after Iran "tests' a nuke in Baluochistan? Probably quite a bit. End game? http://www.debka.com/article/20431/
Why does everybody think Iran is as big a bunch of assholes as we are?
Hey you know what would be a great idea. What ya do is you teach everybody forgiveness and teach people to bottle up thier anger and contain it. Then you uncork people a fraction at a time and beat and bully up on them as a minority. Then you just hope that everybody doesn't come uncorked and serve up a big old drink of pure undilluted hatred. Like what could happen during the middle of a massive global theft operation.
Pop goes the weasel bitches.