• BullionStar
    05/30/2016 - 21:24
    The US Gold Market is best known as the home of gold futures trading on the COMEX in New York. The COMEX has a literal monopoly on gold futures trading volumes worldwide, but very little physical...

Guest Post: Guess Who’s Buying Silver Now

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Mon, 04/11/2011 - 12:22 | 1158033 Roy Bush
Roy Bush's picture

Bizarro World

Mon, 04/11/2011 - 12:30 | 1158068 Thomas
Thomas's picture

Death by Bongo

Mon, 04/11/2011 - 12:41 | 1158096 hedgeless_horseman
hedgeless_horseman's picture

Maybe it is Leo?  I know that past performance isn't indicative of future, etc., but it does fit his model.

 

Mon, 04/11/2011 - 12:54 | 1158146 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Told everyone so.

by Mr Lennon Hendrix
on Mon, 12/13/2010 - 20:21
#803055

 

The FIAT shellgame is over, folks.

Let the hataz hate, and watch the monie pile up.

Buy silver.

by Mr Lennon Hendrix
on Wed, 04/07/2010 - 14:12
#290329

So Max Keiser is killing it and he cleared some shit up for me.  We have until $20.92 to buy silver (this is its nominal high), because that is when JPM should be done unloading their shorts (more specifically the shorts they inherited from Bear Sterns).  Once that happens, the whole market should capitulate, and then silver to the MOON (we have our own Argonaut, GET THE FUCK IN THE BOAT PEOPLE!) followed by gold and oil.  By my calculations we will reach $20.92 at mid summer, then the market should capuitulate for 2-6 weeks, depending on how bad peak oil is right now, and then KABOOM!  Anyway, my two sense...I could be wrong. MB anyone?

Also, a low of $8.88 during the "crisis".  They are saying something.  They are saying 'We will run this town for infinaty'.  I cry ISIS!  Then I go to war with these damn JPM "M"arket "M"anipulators.  Join me!  BUY SILVER!

 

Mon, 04/11/2011 - 13:22 | 1158261 mark mchugh
mark mchugh's picture

LH,

I think you will have many more opportunities to say "told you so"

Well done.

Mon, 04/11/2011 - 13:25 | 1158269 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Thank you Mark.

Mon, 04/11/2011 - 19:41 | 1159648 Bicycle Repairman
Bicycle Repairman's picture

I agree.  TPTB are looking to get on the long side of PM.  There will be some headfakes, but the long term trend is clear.  Buy and hold.

Mon, 04/11/2011 - 14:04 | 1158389 Bastiat
Bastiat's picture

Thomas:

"Death by Bongo"

/chuckle -- I first heard about the death or death by Bongo dilemma from a couple i-bankers in the mid-80s.  I always thought it was stupid--but in recent years, I see the wisdom!  It's the choice that the Bernank faces every day.  Needless to say he and Bongo are very close!

Mon, 04/11/2011 - 14:30 | 1158464 jus_lite_reading
jus_lite_reading's picture

Tyler!!! YOU MUST WRITE an article about this!!

http://www.youtube.com/watch?v=rPILhiTJv7E

CHINA GDP IS A SCAM!

Mon, 04/11/2011 - 14:51 | 1158512 SheepDog-One
SheepDog-One's picture

As China recently said, its a currency world war. Of course Chinas GDP is a scam, just like ours! 

Mon, 04/11/2011 - 16:54 | 1159062 Zero Govt
Zero Govt's picture

Everything Govt touches turns to Crap

...i'd heard of Chinas ghost cities but never seen 'em. Good link thanks

Mon, 04/11/2011 - 12:47 | 1158119 Weisbrot
Weisbrot's picture

not really, how long until they steal it back from those that take delivery? Im sticking with the the fiat silver, its the easiest way to get the next generation fiat currency when they print it.

Mon, 04/11/2011 - 13:35 | 1158295 Banjo
Banjo's picture

Weisbrot: Fiat silver :(

I would suggest at least a portion of silver to be held as physical. At least a few hundred ounces say 200-300 oz.

Mon, 04/11/2011 - 13:34 | 1158300 billhilly
billhilly's picture

A clusterfu*k is more like it.  Shit is SO complicated...JPM short this, long that, derivitive this, manipulate that, blah blah blah...I'm getting dizzy, and sick.  Its no wonder things are so screwed up...too complicated.

Thank goodness for the ability to buy simple physical and hold it in your hands.  Yes maybe it too is open to the flaws of the system but in the end I believe it will store value.

Keeping things simple, now that's something to believe in !!!   

Mon, 04/11/2011 - 13:57 | 1158367 cossack55
cossack55's picture

Right. If kept simple there might be such a thing as price discovery or even rule of law. HaHaHa. Welcome to Bananaville. Avoid the radiated ones. Ooops, there all readiated. HaHaHa

Mon, 04/11/2011 - 13:48 | 1158336 supernickel
supernickel's picture

Who's buying silver now? No one in their right mind. Ha, ha ....

Only when Cramer says that silver is a dud, then you can safely buy back.

Mon, 04/11/2011 - 14:06 | 1158393 overmedicatedun...
overmedicatedundersexed's picture

FWIW, just got back from my local small town coin/jewelry dealer:\

Do you have gold coins for sale: NO

do you silver coins for sale: NO

generic gold or silver: NO

would you buy my 90% silver and some gold maple leafs??" how many you got I will take them all...."

he then told me he is buying all he can for  very big buyers in DC /Baltimore and Canada.

HE just got back from Canada after delivering 500 1 oz gold coins to his buyer there at a premium.

Mon, 04/11/2011 - 14:22 | 1158432 Temporalist
Temporalist's picture

Went to a coin shop too and they had 2 ASEs, both painted, and the dealer said people soaked up all of his inventory up because of rising prices.

Mon, 04/11/2011 - 15:47 | 1158761 supernickel
supernickel's picture

They all buy at the top because Cramer told them so.

Mon, 04/11/2011 - 13:52 | 1158349 Hugh G Rection
Hugh G Rection's picture

time to roll some profits into iodine longs

Mon, 04/11/2011 - 12:23 | 1158037 slow_roast
slow_roast's picture

SELL signal.  I just bailed on my position.  Gold looks like a nice sail in a beautiful harbor while silver is about to become a cross-Atlantic voyage in a raging squall.  No thanks, I like to preserve my capital thanks.  That last ride from $26 to $41 was good stuff though. 

Mon, 04/11/2011 - 12:31 | 1158070 apberusdisvet
apberusdisvet's picture

@slow roast:

Can't argue if you are a trader; I on the other hand am a holder for several reasons.  The first is that silver is a scarce resource, not unlike REEs, and could disappear from the planet within 50 years based alone on industrial use.  Now factor in investment demand and the virtue of silver as a cheaper currency than gold, and you have an eventual true price discovery far in excess of current value.  I can wait and so can my children and grandchildren; my stash is really for them.

Mon, 04/11/2011 - 12:39 | 1158088 slow_roast
slow_roast's picture

@ap, I'm a large buyer of physical, I was only commenting on paper trades.  I've been buying physical for qiute some time, but only to the tune of about 3-5% of my paper trades.  I had large positions in SLV CALLS for April, July, and Jan 2012 which I've mostly closed now and am going to plow, on a weekly buying plan, into physical until I think a pullback in silver has occurred.  Once it has I'll probably go back into the paper trade very very long but it just looks like it "could" reverse on a dime now.  I doubt it will but risk/reward for me looks much better buying gold paper and physical silver for the time being.

 

I completely agree with your thoughts but since i was using options timing was more important than getting the direction rigth because we both know that it's up in the long term.

Mon, 04/11/2011 - 12:57 | 1158162 doggings
doggings's picture

glad you clarified that one, I can take you seriously again now ;)

Mon, 04/11/2011 - 13:39 | 1158303 gordengeko
gordengeko's picture

I agree on the paper only to the extent that the market could be correcting soon.  Speculation drove up crude in the front month as was stated last week here on ZH, so looking at the evidence presented a minor correction would provide an awesome buying op in the high 30's!  I still don't see <37ish and JPM is still fucked.  I'm no expert btw and been known to change my mind very quickly when it comes to this ponzi paper scheme.

Mon, 04/11/2011 - 12:44 | 1158105 silvertrain
silvertrain's picture

Dissapear in 50 years? Thats very, VERY optimistic..There will not be any Silver by 2020..

Mon, 04/11/2011 - 15:39 | 1158718 TheGoodDoctor
TheGoodDoctor's picture

Amen. Here's one for you. :)

http://www.youtube.com/watch?v=bVP9TOxnMVk

Mon, 04/11/2011 - 12:34 | 1158073 Confuchius
Confuchius's picture

If you can't stand the heat, stay out of the kitchen.

Mon, 04/11/2011 - 12:35 | 1158081 Jean Valjean
Jean Valjean's picture

What is your favorite asset used to "preserve your capital"?

Mon, 04/11/2011 - 13:16 | 1158236 mogul rider
mogul rider's picture

gold mines

 

city slickers by the rounds we buy the rock, same shit, we just prefer to keep grubby stinking little maggots out of our stash

Mon, 04/11/2011 - 14:02 | 1158371 augie
augie's picture

You guys are all backasswords. Like my grandpappy said, "Hold what people actually value,  sardines and Glue."

There will ALWAYS be a market for the soy bean of the sea, and something needs to hold this house of cards together. It sure as shit ain't faith.

The best part is, you CAN eat Sardines, and if you sniff enough glue, you won't care about the radiation levels.

Its All good, take another wiff.

Mon, 04/11/2011 - 14:24 | 1158455 Temporalist
Temporalist's picture

"There will ALWAYS be a market for the soy bean of the sea."

Tell that to the Japanese fishing industry.

Mon, 04/11/2011 - 12:36 | 1158082 Ray1968
Ray1968's picture

Nothing has fundamentally changed with Silver. Sell if you wish.

Mon, 04/11/2011 - 12:42 | 1158099 slow_roast
slow_roast's picture

Paper silver is dangerous in the short term; that was my point.  I'm a buyer of physical at this level and every other level that gets me out of FRNs.

Mon, 04/11/2011 - 14:08 | 1158398 Scoobywan
Scoobywan's picture

"Nothing has fundamentally changed with Silver"

 

Exactly, so why the big run-up?

Mon, 04/11/2011 - 14:23 | 1158437 tmosley
tmosley's picture

You can only hold a beach ball underwater for so long.

Mon, 04/11/2011 - 15:39 | 1158699 ZapBranigan
ZapBranigan's picture

 

Good analogy mosley...I'm sure Dimon had Blythe hold a 48-hour strategy session over the weekend and we're now seeing them execute their consensus decision, but it won't last long.

I'm sure there will be many more 48-hour weekend silver strategy meetings in JPM's near future.  Go long Chinese Food and PizzaHut/Dominos/PapaJohns. 

 

Mon, 04/11/2011 - 14:28 | 1158457 Temporalist
Temporalist's picture

Nothing has fundamentally changed with the 10 year secular bull market in silver.

 

There does that make it easier for you to understand?

Mon, 04/11/2011 - 13:25 | 1158264 Dangertime
Dangertime's picture

I agree.  Time to close any silver trading positions.  This is getting too crazy.

 

Should be able to buy back in again sometime late summer.

Mon, 04/11/2011 - 13:34 | 1158294 Manthong
Manthong's picture

Do you really think the paper is all that hazardous at these levels? Since the FED has for all practical purposes indemnified the banks agains any loss, what's the chance that the scam - er, I mean system will go south before the trillion dollar bill is released? Why not just ride their fiat all the way to the top, cashing out portions to buy physical along the way?

Mon, 04/11/2011 - 13:45 | 1158333 Manthong
Manthong's picture

So where do you think the next buy is?

Mon, 04/11/2011 - 14:52 | 1158525 Larry Darrell
Larry Darrell's picture

Looks like the buy is at 2:45 to 3:00 EST.

That spike down looks eerily familiar.

I guess we will hear this evening that there is yet another margin hike in silver.

Buy this dip.  The margin hike sell offs in silver have half lives that we wish the radioactive particles spewing from Japan had.

Mon, 04/11/2011 - 15:06 | 1158564 Manthong
Manthong's picture

Would you go with 2X?

Mon, 04/11/2011 - 15:19 | 1158630 Larry Darrell
Larry Darrell's picture

I would never give trading advice.  The larger players are always changing the rules.

I have zero invested in any "market" vehicle.

Mon, 04/11/2011 - 19:52 | 1159668 Manthong
Manthong's picture

I got a little buy in right near the bottom at about 3:10 - just a couple hundred SLV to hold until it looks like a nice time to hop off and wait for another ride. The 2X in and out before the close would have worked.

I always liked rollercoasters as a kid.

My important stuff is long and hard.

Mon, 04/11/2011 - 15:10 | 1158579 Tail Dogging The Wag
Tail Dogging The Wag's picture

Your SELL signals are BUY signals for me. Thank you!

Mon, 04/11/2011 - 12:21 | 1158039 apberusdisvet
apberusdisvet's picture

The FED will come to the rescue by printing 1 billion oz of silver; problem solved.

Mon, 04/11/2011 - 13:42 | 1158314 lincolnsteffens
lincolnsteffens's picture

The fed won't do it but they probably have a silver plated tungsten scheme cooking down at the treasury. That way when the silver gets rubbed off around the edges it wont be noticeable like gold plated tungsten. Go long tungsten. When they run though the tungsten available they'll substitute nickle. Go long nickle. ;<)

Mon, 04/11/2011 - 15:16 | 1158627 Armchair Bear
Armchair Bear's picture

tungsten has the same specific gravity as gold

 

molybdenum has the same (close to) specific gravity as silver.

 

So go long molybdenum

 

Bix Weir says there's a good argument that the CRIMEX is holding silver plated moly bars too.

Mon, 04/11/2011 - 15:31 | 1158684 zeek
zeek's picture

I kinda like my 175gr, moly coated lead...  :)

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