• Sprott Money
    05/06/2016 - 06:03
    The US, in its own decline, is showing this same self-destructive tendency. The worse things get, the greater the inclination of the citizenry to say, “Carry on, everything’s fine.”

SLV Silver Holdings Jump 3% From 2011 Lows

Tyler Durden's picture




 
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Tue, 05/10/2011 - 07:57 | 1258528 The Axe
The Axe's picture

That correction has created a huge amount of over-head resistance, the trapped silver nuts will greet each price level up to 50 with more selling...in fact silver will not print above 41 this year again...at 40 I plan to short again. sorry Silver Bears YOUTUBE stars yes..correct on silver NO.

Tue, 05/10/2011 - 08:03 | 1258545 HelluvaEngineer
HelluvaEngineer's picture

Looks like you may get your chance to re-short in a few hours.

Tue, 05/10/2011 - 08:09 | 1258568 DaBernank
DaBernank's picture

+38.60 ;)

Tue, 05/10/2011 - 08:09 | 1258570 SWRichmond
SWRichmond's picture

This is a pure guess, but $42 looks like equilibrium to me.  We build from there, unless the deflationary sag sets in due to QE2 ending in June.  Which I am more than hoping for, because I've got a shopping list.

Tue, 05/10/2011 - 08:19 | 1258591 cossack55
cossack55's picture

I've also got a list. Only one item on it. Hahahaha

Tue, 05/10/2011 - 08:23 | 1258606 Sudden Debt
Sudden Debt's picture

beer?

or tampons for the misses? :)

 

RED FLAG OR NOT!!! I'M SWIMMING!!

 

 

Tue, 05/10/2011 - 08:55 | 1258694 SheepDog-One
SheepDog-One's picture

Theyre never going to 'stop QE' they cant even go 1 day without buying the hell out of stocks and bonds with billions pumped in futures to keep the total scam running. If they were to stop it we wouldnt see 'deflation' we'd see a complete collapse of markets.

Tue, 05/10/2011 - 08:25 | 1258610 The Axe
The Axe's picture

Flag me as junk if you must (ha ha) but when I started in the business, it was on Lehmans South African Gold Desk, and I saw a margin induced 6 day limit down gold correction. And baby it NEVER came back. And that is what you have here...Silver is done.

Tue, 05/10/2011 - 08:29 | 1258625 tmosley
tmosley's picture

What?  There is no such thing as limit down in gold, you fucking moron.

Get the fuck out of here, you lying sack of shit.

Tue, 05/10/2011 - 08:48 | 1258670 The Axe
The Axe's picture

Of course you are wrong, and if you were on Wall Street, I would come down to your office and shove your keyboard up your ass. 

Tue, 05/10/2011 - 08:50 | 1258678 tmosley
tmosley's picture

There is no such thing as limit up or limit down on gold.  You are welcome to prove me wrong.  But you can't, because you are a stupid little shit of a troll who can't even get his backstory straight.  Or the price action of gold, for that matter.

Tue, 05/10/2011 - 10:15 | 1258994 GittyUP
GittyUP's picture

tmosely, Your are 100% wrong on this one. gold had daily trading range limits in the early 80's. Google is your friend. Also the Axe is correct to say inflation adjusted gold is not near its high yet. http://goldnews.bullionvault.com/files/gold_inflation_adjusted_1.png

Tue, 05/10/2011 - 10:22 | 1259007 tmosley
tmosley's picture

lololol, you guys are bearish on gold because the price isn't at an all time inflation adjusted high.

THAT'S funny.

Also, lol at the utter lack of proof on the daily trading limits on gold. Not that I give a shit. That's the past, and until the US becomes a net creditor nation again, that little episode won't be repeating itself.

Tue, 05/10/2011 - 08:54 | 1258702 Rynak
Rynak's picture

mogul rider? Is that you? :)

Tue, 05/10/2011 - 12:29 | 1259499 Hugh G Rection
Hugh G Rection's picture

The Ass....

 

You are obviously an EE shill, paid in blowjob certificates (redeemable at Jamie Dimon's desk), to troll ZH and shit on silver.

 

Please report back to Blythe Master's office and give her anal glands a good cleansing.

Tue, 05/10/2011 - 08:34 | 1258629 Quintus
Quintus's picture

" I saw a margin induced 6 day limit down gold correction. And baby it NEVER came back."

Are you for real?  Are you saying that gold prices today are lower than when they were when you 'Started in the Business'?  Presumably that's what 'NEVER came back' means?  I think you may have installed your screen upside down mate.

Jesus, I can see why Lehmans went tits-up with razor sharp traders like you on board. 

Tue, 05/10/2011 - 08:44 | 1258665 The Axe
The Axe's picture

850 in 1980 is higher then 1517 in 2011...Yes that is what I mean...And thank you for your nice thoughts about my job performance

Tue, 05/10/2011 - 08:54 | 1258692 Imminent Crucible
Imminent Crucible's picture

"in fact silver will not print above 41 this year again"

You'll be needing a new ZH ID a lot sooner than you think. What is "Axe", your third? Or fifth? Check for polyps while you're in there.

Tue, 05/10/2011 - 09:13 | 1258762 The Axe
The Axe's picture

of course NOT.. your wrong..same id for years..And I will take my loses like a man if they happen, but they won't short 10,000 GLD long 300 July 31 SLV puts...Have a nice day

Tue, 05/10/2011 - 11:17 | 1259156 fuu
fuu's picture

Figures a former Lehman trader doesn't know the difference between your and you're.

 

OMG I sound like molecool now.

Tue, 05/10/2011 - 12:59 | 1259597 Hephasteus
Hephasteus's picture

When you say in fact you won't see silver print above 41 again this year.

You mean to say when people are throwing as many dollars into silver as they are into gold. With that kind of insane buying pressure you can paint the tape? Yup you definitely worked for Llheman.

http://www.youtube.com/watch?v=q03BlD22-NQ

Tue, 05/10/2011 - 08:57 | 1258697 Sean7k
Sean7k's picture

Which indicates just how far gold and silver still have to run. Unless you're saying that a new Volker is going to magically raise the interest rates to 14%, we are going to lose a substantial amount of debt and allow the dollar to gain in value, manufacturing would have a new large base added to it and entice others to buy our bonds? 

Is this what you mean? Because if it is, you couldn't trade to save your life.

Tue, 05/10/2011 - 09:30 | 1258853 Goldenhands57
Goldenhands57's picture

Bingo! No majic this time around. Kool aid is a flowing like Niagra and there it no possible way to bring back the middle class from here. America's Industrial base has been gutted. We're a "Service Economy"..such as.. the same kind of "service" given by paid Hookers. We WERE a Nation of producers..now we are simply a pack of Wal Mart whores.  

Tue, 05/10/2011 - 08:26 | 1258613 Palmer Eldritch
Palmer Eldritch's picture

We'll see if you're right.  40-42 is a strong resistance zone.  I would cover on break of 42.50.  But, trolls never cover, right?

Tue, 05/10/2011 - 11:15 | 1259231 vast-dom
vast-dom's picture

the 3 Stigmata in this case being Gold SLV and Trolls.

 

SLV to $60 baby by end of year!

Tue, 05/10/2011 - 08:30 | 1258615 lizzy36
lizzy36's picture

So it will not go about $41 because you plan to short again at $40?

You do realize that odd lots don't move markets?

Just saying.

Tue, 05/10/2011 - 08:30 | 1258617 Ruffcut
Ruffcut's picture

That was more than a correction. It was a pure intented bash down.

The big dogs want to control what you should have confidence in, like priceline and netflix. THe goldbugs were starting to cramp their style of ponzi. Like spoiled babys that don't get their way, would rather destroy the toy than let anyone else play with it.

Tue, 05/10/2011 - 08:47 | 1258667 SheepDog-One
SheepDog-One's picture

LOL The Axe applies fundamentals to the coordinated in-your-face manipulated PM takedown? What a dork!

Tue, 05/10/2011 - 09:10 | 1258763 Badabing
Badabing's picture

Pump and dump SLV/GLD = volatility and physical collection for op/ex delivery. SLV moves the silver market more than the industrial users DYODD

Tue, 05/10/2011 - 09:20 | 1258813 Math Man
Math Man's picture

Same thing happened after the first spike to 49 and drop on 4/25. Over 7mm ounces were added.  Then we got a quick rally followed by a huge drop.

Short covering drives the arb positive and adds OZs to the trust.

Basically, SLV increases volatility big time.

Tue, 05/10/2011 - 11:18 | 1259222 JW n FL
JW n FL's picture

by The Axe
on Tue, 05/10/2011 - 07:57
#1258528

 

That correction has created a huge amount of over-head resistance, the trapped silver nuts will greet each price level up to 50 with more selling...in fact silver will not print above 41 this year again...at 40 I plan to short again. sorry Silver Bears YOUTUBE stars yes..correct on silver NO.

****************************************************************

I plan on buying ever dip.. I hope that they do sell it lower..

when the Republicans blow the debt cap and the full faith of the U.S. dollar is shit on... when we have forced austerity measures brought on by the Republicans.. we will see how fucking stable paper is?

Let me guess you would rather take the ignorance is blissful and at your starbucks this morning everyone looked happy route?

when men get hungry and watch their children become hungry while tax cuts / scratch that shit.. while $0 fucking tax dollars are paid by the richest.. so that the poor can pull themselves up by their bootstraps!

I dont think that the republicans really accurately grasp what this pulling up by the bootstraps entails.. it really is more like bootstraps will be used to strangle the rich, until dead so that the poor can eat.

The police forces nationwide have been cut by 25% - 50%.

That leaves the military who has been training for house to house now for a decade!

I hope I am wrong, I hope that I worry too much, I hope that I give the force of this event to much energy... I hope that people starve happily and stay out of my gated community or at least on the other side of the fence.

But! I will NOT! ignore what could very well turn ugly, using ALL of history as my template!

Hungry People are NOT! nice people.

Tue, 05/10/2011 - 12:39 | 1259521 Hugh G Rection
Hugh G Rection's picture

Easy with the one-sided bashing.  Do you claim dems aren't just as bad.  The leadership on both sides is evil, and serves the same master.

 

Tue, 05/10/2011 - 11:27 | 1259277 DeadFred
DeadFred's picture

Whole bunch of trolls started life about 1 1/2 years ago.  I wonder what caused that.

Tue, 05/10/2011 - 13:01 | 1259600 akenathon
akenathon's picture

you're right but don't forget that next week we have options expiry on SLV and some huge moves could be expected on the upside...

Tue, 05/10/2011 - 08:00 | 1258531 Silverhog
Silverhog's picture

Back to $50 early July  :)

Tue, 05/10/2011 - 10:11 | 1258968 Dangertime
Dangertime's picture

LOL!

Tue, 05/10/2011 - 10:13 | 1258978 tmosley
tmosley's picture

I see you have abandoned all pretense of not being a perma-bear.

Wed, 05/11/2011 - 02:07 | 1261947 eisley79
eisley79's picture

Dangertime called 50-60 two fridays ago, right before the monday correction, he nailed it, must be why he is lol'ing....i know its why i am lol'ing, everytime i see his name

Tue, 05/10/2011 - 11:20 | 1259242 JW n FL
JW n FL's picture
by Silverhog
on Tue, 05/10/2011 - 08:00
#1258531

 

Back to $50 early July  :)

*************************************************************

Next week? maybe the week after, MAX!

 

O Wait! it still is $50! if you want eagles in your hand!

 

if you want paper, then to lease and then take delivery of to pay back..

 

I am guessing that all of that equals $50 plus too..

 

So no matter what! if you want silver in your hand today! you are paying $50 or better.

 

If you want to trade paper, with no real delivery date for phyical silver.. it is much, much cheaper!

Tue, 05/10/2011 - 07:59 | 1258535 Bazooka
Bazooka's picture

If SLV and GLD are safe havens, why were they falling like stocks last week?

Why were nearly everly commodity falling with SLV and GLD?

Shouldn't SLV and GLD rise while everything else falls? 

IT"S JUST ANOTHER PAIR OR EQUITIES!

SLV and GLD both crashed during 2008, May of 2010 and last week....in near lock step with equities.

I'm still waiting to see SLV and GLD separate away from all other markets....rather it's a part of the "all the same market".

 

Tue, 05/10/2011 - 08:05 | 1258544 Construct
Construct's picture

Physical PM's and Paper PM's are two different things.

Tue, 05/10/2011 - 08:11 | 1258562 Stormdancer
Stormdancer's picture

...and this is not 2008 either :)

Tue, 05/10/2011 - 08:21 | 1258599 Sudden Debt
Sudden Debt's picture

I STAND TO CORRECT YOU SIR!!!!

 

PAPER SILVER ISN'T JUST PAPER!!!!

it's actually nothing more than a digital number on your screen when you log in into your trading account...

if you want to receive a paper you need to print it on your own copy paper and with your own toner. So you'll have to invest a little "PREMIUM" to get it on paper so to speak.

 

 

 

 

Tue, 05/10/2011 - 11:12 | 1259208 Two Towers AU AG
Two Towers AU AG's picture

I STAND TO CORRECT YOU SIR!!!!

He actually likes to see the digital number change colour from Green to Red.. something our Physical Metals cannot do...

So what if he cannot touch it feel it or see it shine.. -:)

Tue, 05/10/2011 - 11:36 | 1259316 Libertarian777
Libertarian777's picture

at least in the old days the company would register your paper on their books and your broker would courier the paper to you.

now, its not even registered in your name. your holdings are a liability on your broker's books.

Funny how scrip is now the equivalent of 'unallocated' PM.

I know I know, I should trust the system. MERS works perfect...right...right?

Tue, 05/10/2011 - 08:23 | 1258607 I am more equal...
I am more equal than others's picture

Owning physical PM is like owning a gun (with sufficient ammo to heat that barrell to white hot) and owning paper PM is like owning stock in a gun company.  When I need my gun, it is there and will accomplish the task I assign it.  Unless the gun company adopts a Dominos' Pizza delivery system, there is nothing I can do with that paper other than wipe my ass or use it to wipe up the blood that was spilled from those coming through my front door. 

Tue, 05/10/2011 - 10:15 | 1258991 GoinFawr
GoinFawr's picture

Physical paper in hand indicates that you at least had the wherewithal to register your shares.

Tue, 05/10/2011 - 11:43 | 1259351 Au_Ag_CuPbCu
Au_Ag_CuPbCu's picture

Amen!

Tue, 05/10/2011 - 12:04 | 1259403 DaddyO
DaddyO's picture

 

OT: Speaking of guns, this article should give us pause. If it's not talk of PM confiscation, there is and has been much talk about the NWO trying to grab your guns as well.

http://gallanteisen.incnf.org/GlobalWeapons%5BBP062011%5D.pdf

DaddyO

Tue, 05/10/2011 - 09:27 | 1258830 Badabing
Badabing's picture

I bought a car contract for my own transportation. The dealer handed me my contract and now someone else is driving the car!

Do NOT follow this link or you will be banned from the site!