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Sprott Sells $35 Million Worth Of PSLV Across Different Funds In Week Between April 18 And April 25

Tyler Durden's picture




 

In addition to all the already highlighted factors (margin hikes, Cramer buy recommendations, Chinese slowdown concerns, etc.) another possible reason why silver holders (at least of the recent variety, those who have been long since ~$10 could not care less) recently have had a difficult time with estabilishing positions in a suddenly very volatile silver market, is that according to a recently released 13-D by Sprott Asset Management, the head of the world's first silver physical ETF has taken profits on over 1.6 million shares of PSLV, across various funds, for total proceeds of just over $35 million, including up to $6.4 million for personal gain by Sprott.

The table below summarizes the sales, which occured between April 18 and April 25:

And the chart below shows precisely where Sprott sold based on the performance of PSLV over the past two weeks:

So the default question: is Sprott top ticking the market, or is he merely locking in physical courtesy of the premium arbitrage? At last check PSLV was trading at about 16% over NAV. Will the continuing interest in physical force PSLV to issue more shares or will the synthetic arbitrage persist? We hope to find out soon enough, as well as to get Sprott's thoughts on whether or ont other looking at his actions should get the impression upside is now capped.

 

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Mon, 05/02/2011 - 13:58 | 1230722 Thomas
Thomas's picture

CEF used to do that and use the premium to up the per-share gold/silver holdings. Apparently, they decided that giving away the premium was stupid. Sprott may be a quick learn. It would be nice if they split the booty with the shareholders (bitchez). Sprott's premium was, I am told, enormous.

Mon, 05/02/2011 - 14:03 | 1230753 Blythe
Blythe's picture

the Dimon say:

My Blythe bad, My Blthye hood.

 

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

Mon, 05/02/2011 - 14:37 | 1230922 covert
covert's picture

panic is always a sign of a previous mistake. never be desperate.

http://covert2.wordpress.com

 

Mon, 05/02/2011 - 14:47 | 1230965 disabledvet
disabledvet's picture

who's panicking?  you?

Mon, 05/02/2011 - 14:41 | 1230946 Hugh G Rection
Hugh G Rection's picture

AHHHHHH The Sky Is Falling, Silver is down $2.00!!!! Sell, Sell, Sell!

 

Corrections are good nutjobs, gives me a chance to add more physical.  Silver up, buy ammo, silver down, buy more physical.

 

 

Mon, 05/02/2011 - 16:06 | 1231334 hbjork1
hbjork1's picture

When your neighbor needs help, you should help him and buy his silver.

Mon, 05/02/2011 - 17:56 | 1231862 h3m1ngw4y
h3m1ngw4y's picture

thats about the dumbest thing ive heard in a long time

Mon, 05/02/2011 - 14:13 | 1230723 NidStyles
NidStyles's picture

Interested in knowing these answers.

Mon, 05/02/2011 - 14:25 | 1230886 Ray1968
Ray1968's picture

Thanks Sprott!! Glad I can support your profits. Asswipe.

Mon, 05/02/2011 - 15:45 | 1231237 Ckashan
Ckashan's picture

+1

Mon, 05/02/2011 - 16:53 | 1231583 tiger7905
tiger7905's picture

I wouldn't read to much into the $35 million, he's mentioned in the past there may be a time to sell silver bullion to get into silver equities like he's done with gold bullion in the past. The more interesting question is since PSLV allows an exit in cash or the physical, what did the funds do? http://goldandsilverlinings.com/?p=856

Mon, 05/02/2011 - 17:40 | 1231794 macholatte
macholatte's picture

Pump & Dump, Baby. Pump & Dump.

Sooner or later, it always gets converted back to fiat. Will that be plastic or paper, sir?

 

Speculation is only a word covering the making of money out of the manipulation of prices, instead of supplying goods and services.
Henry Ford
Mon, 05/02/2011 - 13:56 | 1230724 Ahmeexnal
Ahmeexnal's picture

This is it, the collapse is NOW.

Mon, 05/02/2011 - 14:04 | 1230759 Hearst
Hearst's picture


The cocksuckers over at the CME just announce that everyone should expect Silver to drop by $12 per oz this week.  With the US Dollar in the tank they're pulling out all the nefarious market manipulations they can to get Silver lower.  

http://www.kitco.com/reports/KitcoNews20110502TW_CPM.html

 

Mon, 05/02/2011 - 14:10 | 1230816 gordengeko
gordengeko's picture

Wow, they are going balls out with this silver bs.

Mon, 05/02/2011 - 14:13 | 1230834 SilverRhino
SilverRhino's picture

Let them ... in a year this will be a speedbump on the rise.  

Meanwhile Buy the FRAKKING dip. :)

I've got hail damage checks coming .... guess where they are going?   I can live with hail damage to the truck for a good long while if I can get a bigger physical position.

Mon, 05/02/2011 - 14:23 | 1230868 gordengeko
gordengeko's picture

It's done, I'm starting to get a bunch that didn't listen to me back in feb now asking me how to buy silver coins and where to go.lol 

Mon, 05/02/2011 - 15:07 | 1230995 dehdhed
dehdhed's picture

they were calling for a $14 pullback after a spike to 42 which didn't happen

Mon, 05/02/2011 - 14:13 | 1230838 Gordon Freeman
Gordon Freeman's picture

I don't know if silver is going to tank this week, or not. 

However, I am very sure of this:  I won't be including the linked commentary by CPM in my decision-making.  Triple refried and digested "wisdom" like that is just opinion.

As

Mon, 05/02/2011 - 14:23 | 1230872 Hearst
Hearst's picture

"I won't be including the linked commentary by CPM in my decision-making. "

 

Thanks for the correction, and great point.  The article never states WHO at the CPM group is making these claims.  But if I had to bet, I'd be betting it is Jeffrey 100 to 1 Christian...

Mon, 05/02/2011 - 14:49 | 1230977 disabledvet
disabledvet's picture

William Randolph?

Mon, 05/02/2011 - 15:09 | 1231051 Hearst
Hearst's picture

No his father, George Hearst.  Popularized by HBO's 'Deadwood' series.  (Best television ever created IMHO, David Milch is a genius and a must watch if you even remotely like westerns and are a Gold bug.)

George Hearst struck it rich back in the 19th century with his Gold and Silver discoveries.  Noteably the Comstock Lode for it's Silver in Nevada and the Homestake Gold Mine in Deadwood which became the oldest, largest, and deepest mine in the Western Hemisphere reaching 8000 feet deep.  The homestake mine would become the basis of the Hearst financial empire.

 

More here:

http://www.legendsofamerica.com/we-georgehearst.html

 

Mon, 05/02/2011 - 14:34 | 1230912 TheGoodDoctor
TheGoodDoctor's picture

The spike back up will be epic. The miners are all discounted folks.

Mon, 05/02/2011 - 15:15 | 1231090 Non Passaran
Non Passaran's picture

The miners have been discounted too long and I am concerned they will go even lower. I've read many theories and none make sense (except perhaps that shorting by hedgies theory). Some of my positions haven't moved since 26 silver and pre-1400 gold. WTF.

Mon, 05/02/2011 - 16:14 | 1231372 apartofthings
apartofthings's picture

I agree with that. I hear a lot about how the miners are leveraged to the price of physical, and how they will go up further etc. etc. but they have really underperformed.

Are TPTW suppressing them to buy more on the cheap? Are they aware of a coming correction in PMs? Does this reflect concern that miners are all inevitably financing their operations with debt, which will be bad news if the credit markets freeze up?

I really don't know, though I favour the first one, since the markets are rigged and we know that Bernanke et al. hate gold and want it to die. Maybe the truth is that both the paper prices and the stock prices have been manipulated for a long time, and while people taking physical off the market has been able to push the prices up, it's impossible to do that with stock prices, which are purely paper with no real analogue.

Mon, 05/02/2011 - 14:36 | 1230927 High Plains Drifter
High Plains Drifter's picture

50 /oz  seems to be major battle line.  so be it.   look how long it took gold to get over 1000. i was hoping that for the first big push, silver would run past 50 for a bit but looks like they put the kabosh on that , at least for now. but , we shall build up and come again against this bulwork and we will get past it sooner or later......

Mon, 05/02/2011 - 16:11 | 1231362 JLee2027
JLee2027's picture

It will. I doubt they can cough up the 10 million ounces to make delivery this month.

Mon, 05/02/2011 - 18:00 | 1231868 Chappaquiddick
Chappaquiddick's picture

Welll how many oz's did Sprott just unload??

Mon, 05/02/2011 - 15:17 | 1231099 Non Passaran
Non Passaran's picture

I really hope that happens.

I have some paper money to spend - as a matter of fact I'm just getting ready to deploy it and I'm waiting for silver or gold (whichever, although I think silver is more likely) to dip...

Mon, 05/02/2011 - 14:02 | 1230761 Robot Traders Mom
Robot Traders Mom's picture

Hey Zack Gilifinakis, beat it.

Mon, 05/02/2011 - 14:50 | 1230972 disabledvet
disabledvet's picture

They're comin' for 'em!

Mon, 05/02/2011 - 13:59 | 1230727 trav7777
trav7777's picture

Sprott is takin bugz to the cleaners, bitchez

Mon, 05/02/2011 - 14:23 | 1230870 linrom
linrom's picture

Family run business. Madoff clue No: 1.

Mon, 05/02/2011 - 14:58 | 1231005 Confuchius
Confuchius's picture

Pathetically weak comment.

How about Sam Walton?

How about Myer Rotschild?

How about David Rockefeller?

And; how about Henry Ford?

Mon, 05/02/2011 - 20:37 | 1232375 Quadlet
Quadlet's picture

How about Rupert Murdock?

How about the Bancroft family?

 

Mon, 05/02/2011 - 14:39 | 1230932 High Plains Drifter
High Plains Drifter's picture

does he have product to back up those shares? 

Mon, 05/02/2011 - 14:50 | 1230982 disabledvet
disabledvet's picture

the EXTERMINATOR!

Mon, 05/02/2011 - 14:08 | 1230736 Xibalba
Xibalba's picture

woops! looks like he's STILL SELLING!

Mon, 05/02/2011 - 14:02 | 1230744 B-rock
B-rock's picture

Daytrade ZSL!

Mon, 05/02/2011 - 14:03 | 1230751 Ruffcut
Ruffcut's picture

He is selling so that he can buy treasuries.

Mon, 05/02/2011 - 14:01 | 1230756 Manthong
Manthong's picture

I bought a few of those shares from him.

Is that a bad thing?

Mon, 05/02/2011 - 14:05 | 1230779 Dr. Richard Head
Dr. Richard Head's picture

I don't know as I don't know my ass from a hole in the ground anymore. 

I am going to just invest in the only real liquid asset I know - Booze bitchez!!!!

Mon, 05/02/2011 - 14:04 | 1230757 bob_dabolina
bob_dabolina's picture

tmosely will pick it all up when he gets paid in 2 weeks like he said.

Mon, 05/02/2011 - 15:19 | 1231120 tmosley
tmosley's picture

Sorry, kid.  I don't play with paper.

You might have trouble buying physical online though.

Mon, 05/02/2011 - 15:38 | 1231146 bob_dabolina
bob_dabolina's picture

Whatever you say

Bulls make money, bears make money, pigs get slaughtered ;)

Mon, 05/02/2011 - 16:01 | 1231309 trav7777
trav7777's picture

bullshit, you pimp...there's been physical to be had in all kinds of places during this entire runup.

You and one of the tylers just like to harp on ONE dealer or ONE source or the suspension of proof coins to try to make people suckers like you.

There were quite a few people pointing out how overextended silver was and you just encouraged everybody to buy buy buy buy no matter the price as the COMEX default was imminent along with the end of the world.

You are a fucking idiot. 

Mon, 05/02/2011 - 16:12 | 1231358 tmosley
tmosley's picture

Are you crying into your keyboard as you type that?

You sound like a bitch.

Mon, 05/02/2011 - 16:22 | 1231395 Burnbright
Burnbright's picture

Fuck you trav. Silver is down what 10% on a light trading day and after 5 rate hikes over 8 days. Silver is barely down, wait till it corrects 20% before you spew your shit at people who have been calling it right for over a year. 

Ill see you next month when silver is higher ass wipe.

Mon, 05/02/2011 - 16:32 | 1231461 Texas Gunslinger
Texas Gunslinger's picture

You shouldn't be so mean to others, especially when the other person is right!  There is not enough silver to meet demand, and this has been confirmed by my coin dealer.

My coin dealer coined (get it?  IT'S A PUN! LOLOLOLOLOLOL) the phrase, "price doesn't matter when there's no availability."

If you do a little research on silver you will quickly learn there is simply not enough silver to handle the overwhelming demand of the entire Western Hemisphere slowly transforming their currencies from paper to metal. And that doesn't even include industrial production of earrings and dinner wear. 

Those of us who buy physical silver today will be the rich aristocrats of tomorrow. 

Don't be so mean.  There is far too much hostility in this forum.  Even if you aren't a Christian, I think it's important to treat others with some respect. We are all fighting the same fight.

Mon, 05/02/2011 - 17:00 | 1231607 trav7777
trav7777's picture

This is a troll, right?  LOL

my coin dealer had no shortage whatsoever.  Perhaps your dealer just sucks.

There's also no reason to be respectful to an idiot such as mosely-claven.

EVERY call he's made to buy buy buy buy at $44+ has been WRONG.  People could have WAITED for better prices.  But, nope, he just told everyone to bet the farm at 50.

The guy is an idiot...every price is a good price even when the indicators suggest ridiculously overbought conditions.

Mon, 05/02/2011 - 17:01 | 1231623 tmosley
tmosley's picture

You mean every call for the last two weeks (silver only breached $44 two weeks ago, you know)?

You do know that I have been making the same call for years before that, right?

Oh, but you don't care, because you have found a tool to use in your senseless vendetta against me, because you are a butthurt little bitch.

Mon, 05/02/2011 - 17:21 | 1231721 Texas Gunslinger
Texas Gunslinger's picture

No, I'm not a troll.

People think I'm a troll because I'm the only nice guy here who isn't full of hatred, bitterness and cynicism. And I'm the only one here who isn't afraid to express my love of Christ.

In hindsight and seeing how people responded to me on Sunday, I admit that I was too pushy with my faith.

I'm not used to being in an environment full of bitter atheists.  Texas is a Christian state, and anytime I teach the Word of the Lord to my fellow Texans, they respectfully listen. Some people convert. Some don't, but they are all polite about it - Texas charm, as I call it. Not in this forum.  Everyone here seems like devil worshippers and eager to see others suffer and for the world to end. I've never really seen that before.  

So NO, I'm not a troll.  And YES, my coin dealer is the smartest person on the planet and he has confirmed that there is a shortage of silver.

Maybe your coin dealer is lying. And just because you disagree with "mosley-Claven", does not he is an idiot.  He just has a different opinion, and probably the right one!

Mon, 05/02/2011 - 14:04 | 1230762 PicassoInActions
PicassoInActions's picture

When Physical silver is taken out and people left with the papers... What are the actions?

Correct me if i am wrong, the paper holders have to sell their paper ( which drives the price down) or they will lose everything.

So the Q for a newbie. If there is a shortage of the silver but oversupply of paper. Which direction is a logical one?

Mon, 05/02/2011 - 14:05 | 1230767 Blythe
Blythe's picture

gave it up for dat ass

Mon, 05/02/2011 - 14:04 | 1230772 RobotTrader
RobotTrader's picture

Everyone is dumping mining stocks en masse and piling into AMZN and YHOO today, both making new highs.

Can't blame them, the mining stocks have been utter disasters given how well the price of gold has risen the last 2 years.

Mon, 05/02/2011 - 14:08 | 1230804 oddjob
oddjob's picture

If you'd stay away from large cap producers and gone into small producers you'd be up 500% at a minimum.

Mon, 05/02/2011 - 14:56 | 1230996 GoinFawr
GoinFawr's picture

Don't bother, despite having that pointed out repeatedly Robo will stubbornly continue to sour grape the facts and post his rote, no matter how myopic or insipid.

Mon, 05/02/2011 - 15:18 | 1231115 Non Passaran
Non Passaran's picture

500%?  Since the 80's, maybe.

(I'm long silver and gold miners. Small and medium cap.)

Mon, 05/02/2011 - 14:38 | 1230938 High Plains Drifter
High Plains Drifter's picture

yep , for some reason, mining shares always seem to be a fools errand...l

 

Mon, 05/02/2011 - 14:52 | 1230990 disabledvet
disabledvet's picture

ROCK FARMERS!

Mon, 05/02/2011 - 14:07 | 1230777 6 String
6 String's picture

Sprott is a miner bug. With the PD's loading up shorts on the miners ahead of the silver take-down, Sprott is merely reallocating into the silver miners.

It's called smart allocation.

Mon, 05/02/2011 - 14:13 | 1230817 oddjob
oddjob's picture

6 String knows the score.

Mon, 05/02/2011 - 14:18 | 1230859 bigdumbnugly
bigdumbnugly's picture

yes.  he came to that conclusion of his own ac-chord.

Mon, 05/02/2011 - 18:08 | 1231905 CrockettAlmanac.com
CrockettAlmanac.com's picture

No need to fret; he won't string you along.

Mon, 05/02/2011 - 14:12 | 1230828 Bay of Pigs
Bay of Pigs's picture

No shit. I guess taking some profits and buying undervalued  miners isn't a prudent thing to do?

Gold/XAU above 7. Cheap by any measure. Jr's even more so.

 

Mon, 05/02/2011 - 14:56 | 1230994 disabledvet
disabledvet's picture

maybe he's just surfin'?

Mon, 05/02/2011 - 14:07 | 1230795 Urban Redneck
Urban Redneck's picture

The volume is a fraction of that in the 4/27 SLV filing (50M shares/$2.2B)

Mon, 05/02/2011 - 14:12 | 1230813 NRGTDR
NRGTDR's picture

Have no fear as "they" use fear to steal you every time. A week or two from we will be discussing the next test at $60.00. The desperation of the Cartel is absolutely and beyond pathetic as well as the blatant orchestration of attack on the metals.

Mon, 05/02/2011 - 14:17 | 1230853 Dr. Richard Head
Dr. Richard Head's picture

What I do know is that it will be just 96 hours until my dry powder funds finally enter my bank account.  250 more ounces will be a great late birthday present for me.  I count my wealth in ounces, not $$$$. 

Mon, 05/02/2011 - 16:02 | 1231316 trav7777
trav7777's picture

don't be a dumbass- buy gold

Mon, 05/02/2011 - 16:40 | 1231511 equity_momo
equity_momo's picture

LT you're not wrong. Silver is getting into the realms of a traders market and that should be cautionary to those looking to just protect wealth.

Gold is the eternal store of wealth for people with real wealth to protect in the first place.

Im not dissing anyone for being long silver but in the LONG run gold is a SAFER investment. Silver is afterall poor mans gold. Work it out.

Mon, 05/02/2011 - 17:01 | 1231616 trav7777
trav7777's picture

250oz starts getting to the limit of what can be comfortably carried, what with all the AMMO and GUNS these people stockpile (they surely will want some of those too).

When you are counting your wealth in OUNCES, you need value density.

Mon, 05/02/2011 - 17:23 | 1231719 equity_momo
equity_momo's picture

Precisely , which is why the best large carat diamonds are selling for life high astronomical figures right now. As are vintage Bordeaux , fine art and first edition books of note. Not to mention super prime real estate or farmland. This trend is very obvious - multi millionaires cum billionaires dont give 2 fucks about food or fuel or silver prices.

They maybe neglecting the tail risk of a revolution but by and large , regardless what the Dow does , these people are hedged and happy. Luxury real estate is hard to mass produce , as is farmland , classical art , 1st editions , wine , diamonds , gold. etcetc.  There is a two tier market not just opening up , its been there forever - its now just gapping wider.

This rich/poor divide is going to increase (i concede this puts serious pressure on our socio-economic model and a breakdown of such means all bets are off. I do see why those with modest incomes and savings have moved into silver and other TEOTWAWKI investments)

Look at how Amschel Rothschild made it : protecting the elites money through system changing events.

Mon, 05/02/2011 - 14:32 | 1230904 Ruffcut
Ruffcut's picture

No market is too strong, this one being "paper" thin.

That the cartel can't pop any "bubble" with stroke of their powerful pin.

If they poop on it, then they'll have to support the paper bullshit and the physical buyers will reload like maniacs, further creating dislocation between the real and the not real.

Are they bluffing? Can they really force this puppy back?

Rock, paper,scissors, anyone?

Mon, 05/02/2011 - 14:45 | 1230957 urbanelf
urbanelf's picture

except in this game rock beats paper.

Mon, 05/02/2011 - 15:15 | 1231091 Richard Head
Richard Head's picture

Rock flies right through paper!

Mon, 05/02/2011 - 15:21 | 1231137 tmosley
tmosley's picture

The warden of Shawshank found that out the hard way.

http://www.youtube.com/watch?v=SlKZujGZi0I

Mon, 05/02/2011 - 14:56 | 1230997 disabledvet
disabledvet's picture

60?  I'm thinking 100.  By TOMORROW.

Mon, 05/02/2011 - 15:28 | 1231148 JohnG
JohnG's picture

Rationale, please?  (not trolling you at all.)

Mon, 05/02/2011 - 15:40 | 1231212 tmosley
tmosley's picture

He's being facetious.

Mon, 05/02/2011 - 15:49 | 1231259 JohnG
JohnG's picture

Thx, sarc detector not working today.

Mon, 05/02/2011 - 14:10 | 1230819 Re-Discovery
Re-Discovery's picture

Possible short squeeze did not play out as he thought?

Mon, 05/02/2011 - 14:15 | 1230842 TraderMark
TraderMark's picture

Ben Bernanke has squashed David Einhorn - he has given up shorting most positions as manipulation is the new free market

http://www.fundmymutualfund.com/2011/05/david-einhorn-throws-in-towel-on...

Mon, 05/02/2011 - 14:20 | 1230865 monopoly
monopoly's picture

I find no problem with taking some profits. Sounds intelligent to me. He did not sell all his ogld and silver holdings and buy CMG PCLN CME or AMZN did he?

lol

Mon, 05/02/2011 - 14:20 | 1230866 Silver Bug
Silver Bug's picture

Hmm this is definitely interesting, Eric Sprott is a major Silver Vigilante, I do agree that Silver did move up too fast, but now it looks like the correction has already occured. We shall see.

 

http://silverliberationarmy.blogspot.com/

Mon, 05/02/2011 - 14:57 | 1231003 disabledvet
disabledvet's picture

the silver surfer just FLIES!

Mon, 05/02/2011 - 14:24 | 1230875 High Plains Drifter
High Plains Drifter's picture

a song for blythe

stones 1964

time is on my side baby..........ha ha ha ha ha ha
i have patience.....

Time is on my side, yes it is
Time is on my side, yes it is

Now you always say
That you want to be free
But you'll come running back
You'll come running back
You'll come running back to me

Oh, time is on my side, yes it is
Time is on my side, yes it is

You're searching for good times
But just wait and see
You'll come running back
You'll come running back
You'll come running back to me

Go ahead, go ahead and light up the town
And baby, do everything your heart desires
Remember, I'll always be around
And I know, I know
Like I told you so many times before
You're gonna come back, baby
'Cause I know
You're gonna come back knocking
Yeah, knocking right on my door
Yes, yes!

Well, time is on my side, yes it is
Time is on my side, yes it is

'Cause I got the real love
The kind that you need
You'll come running back
You'll come running back
You'll come running back, to me
Yes time, time, time is on my side, yes it is
Time, time, time is on my side, yes it is
Oh, time, time, time is on my side, yes it is
I said, time, time, time is on my side, yes it is
Oh, time, time, time is on my side
Yeah, time, time, time is on my side

Mon, 05/02/2011 - 14:56 | 1231010 disabledvet
disabledvet's picture

where is the youngin'?  "NO FEAR!"

Mon, 05/02/2011 - 14:25 | 1230878 doerr
doerr's picture

PSLV filed an F1A Red Herring on April 8th and a 424 B1 on April 20th regarding the intent of selling shareholders to sell ~14 million shares. These shares were sold under those filings.

Mon, 05/02/2011 - 14:26 | 1230881 Ecoman11
Ecoman11's picture

We've seen this before and it will play out like every other time. I suspect a market crash by the banks in order to cripple congress again--that way they have to print more or default. Default is not an option as the world reserve currency.

Be ready to buy a major fucking dip.

Mon, 05/02/2011 - 14:27 | 1230891 repete
repete's picture

haven't seen the m word (million) used in a headline in a while.  Needs to be a ZimBabBillion or it doesn't count. 

Mon, 05/02/2011 - 15:00 | 1231021 disabledvet
disabledvet's picture

i'm writing the check as you speak!  is it "ZIMBAbillion" or just "BAZILLION."  I've always been a bad speller.

Mon, 05/02/2011 - 14:27 | 1230887 Dangertime
Dangertime's picture

Tiiiiimmmmmmmm-BEEEEERRRRRRRRRR

Mon, 05/02/2011 - 14:35 | 1230914 oddjob
oddjob's picture

Timber stocks have been flying as well,nice call.

Mon, 05/02/2011 - 14:37 | 1230924 Bay of Pigs
Bay of Pigs's picture

Apmex and Kitco now behind on physical supplies/deliveries. I have friends that are buying monster boxes right now at Tulving. They are a group that is well financed and serious about buying and holding their silver. They are not traders.

$50 is coming (days, weeks, months, who cares) and when it does, say goodnight Dangertime. A 31 year old confirmation will be stunning as it rockets to $60 and beyond after that.

Mon, 05/02/2011 - 14:50 | 1230983 Dangertime
Dangertime's picture

I am sure your friends will turn the tide.

Mon, 05/02/2011 - 15:02 | 1231043 GoinFawr
GoinFawr's picture

and I am sure the people you think are yours will hang you out to dry like the willing dupe that you are.

Mon, 05/02/2011 - 15:30 | 1231162 Dangertime
Dangertime's picture

Wait until the panic starts!  Oh the blood hasn't even started flowing yet!

Mon, 05/02/2011 - 16:28 | 1231425 Treasure Freedom
Treasure Freedom's picture

Let the blood flow.. I've got lots of pieces of green coloring paper that I will using to mop it up.. Come to papa silver, come to papa!!

Mon, 05/02/2011 - 15:06 | 1231048 fuu
fuu's picture

Go back to the other thread and answer the last question. How much leverage do you have to use to make sub 1% moves earn you $5k?

Mon, 05/02/2011 - 15:13 | 1231064 Dangertime
Dangertime's picture

You are asking the wrong question.

First you have to ask, what impact do fear and greed have on options prices?

The underlying stock can have the same value on different days yet result in wide variations of the option price, all dependent upon the underlying mood of investors.

THIS is why it is so lucrative to buy puts into a parabola.  You buy the insurance when euphoria is high!

Mon, 05/02/2011 - 15:18 | 1231103 Richard Head
Richard Head's picture

To buy anything, you'd first have to get a real job and move out of your parents' basement.

Mon, 05/02/2011 - 15:20 | 1231119 Dangertime
Dangertime's picture

Now now, did I insult you when silver went from $18 to $50?

Watch and learn son.

Mon, 05/02/2011 - 15:30 | 1231164 tmosley
tmosley's picture

You didn't exist at that time.

You were just a baby troll, trying to claw it's way out of it's mama's crack.

Mon, 05/02/2011 - 16:02 | 1231329 Dangertime
Dangertime's picture

Some serious red at the end of today.  You boys ready for that 30% correction yet?

Mon, 05/02/2011 - 16:04 | 1231336 trav7777
trav7777's picture

silver that you told everyone was "cheap" just shy of $50 is now crushed into the $43s.  You've cost a lot of idiots a lot of money or extra ounces.  There is no real shortage anywhere, and certainly not of bullshit out of your mouth or between your ears.

Basically you are a complete loser and a clown

Mon, 05/02/2011 - 16:13 | 1231361 tmosley
tmosley's picture

Every post I see from you screams about your weakness.

Why you cry so much, little boy?

Mon, 05/02/2011 - 16:16 | 1231382 Dangertime
Dangertime's picture

I cannot believe how many people listened to mosley and how much money he has cost them.  They could have waited til summer and gained a significantly larger number of ounces before they purchased.

Now it's the painful ride to the low $30's, sprinkled with surges of hope.

Noobs.

Mon, 05/02/2011 - 16:25 | 1231408 tmosley
tmosley's picture

Considering my message has been the same for years, most people are up by hundreds of percent.

But hey, short term is all you and trav care about.  Actually, Trav doesn't even care about that.  He just wants an excuse, ANY excuse to call me an idiot after he declared a vendetta against me for having a differing opinion about the seriousness of Japan.  The funny part is that by the end of that series of threads, he actually had me convinced of much of what he was saying, and I was defending him against others who were attacking him.  I guess he forgot.

Mon, 05/02/2011 - 19:14 | 1232139 Dangertime
Dangertime's picture

So your message is to buy at $49?

I truly wonder how many ounces of silver people COULD have bought if they just waited and didn't buy into your hype.

Mon, 05/02/2011 - 17:04 | 1231646 trav7777
trav7777's picture

not at all, cliff, I just tire of your shameless pimping.

Silver has been CLEARLY overextended for a while now, yet you shamelessly continued to tell people to stampede out and buy.

You were saying buy at 45, 46, 47, 48, 49...you were WRONG, got it?

Better prices have come for those who IGNORED YOU.  If you were HONEST and not a fucking idiot, you'd have said "guys, I know I've been really pro-silver for some time, but it's looking a little frothy to me, exercise caution here" at LEAST.

I mean, just like Cliff Claven you represent yourself as an expert, but you're not- you're an idiot.  Many of us were pointing out signs of silver having achieved some kind of topping behavior but you just called us all trolls and scammers and Agents of the Cartel and shit.

I am fully aware of silver's fundamentals but I have been advising caution since at least $45 or $46 at the latest.  Many advised lightening up.  You called them all rat bastards and advised doubling down.  You have cost a LOT of people a LOT of money or a LOT of ounces with your stupid advice.

But you don't CARE, do you?  There's no shame in you whatsoever.  You'll just keep on pretending it is some massive conspiracy to discredit you when you are discrediting yourself, dude.

Mon, 05/02/2011 - 17:16 | 1231698 tmosley
tmosley's picture

You seem to forget that all those values only came a couple of weeks ago.

I have been advising people to dollar cost average.  I tell people that I buy EVERY MONTH.  I NEVER told anyone to buy on leverage.  I told people about the FUNDAMENTALS.  I told people that we will NOT see prices for PHYSICAL drop to $20 like Math Man said, or $30, like Dangertime said.  THese people have been telling everyone to get out of all physical positions, something that has CATASTROPHIC TAX CONSEQUENCES if they have been holding for any amount of time, and intend to buy more physical silver in the future.

But you don't care about any of that.  You have decided that you shall have a vendetta against me because I stood up to you on your peak oil bullshit and was initially against you on your stance on Fukushima (where I later reviewed your posts and found that you were telling the truth that you never said all was fine, and in fact defended you on that note).  But you appear to have a deep seated ladylike hate of me and will do or say ANYTHING to cattily scratch out my eyes, or at least discredit me.

So basically, wait until silver is back above $50, then $60, then $100, and tell me how "bad" my calls were, dipshit.

Mon, 05/02/2011 - 19:16 | 1232153 Dangertime
Dangertime's picture

Show me ONE post where I told people to get out of physical.

You cannot, because you are a liar and you KNOW it.

You pumped this up for people to buy and did your best to shout down anyone who suggested to exercise caution.

You may as well work for the nebulous banksters since you effectively neutered people's ability to purchase even more silver.

Mon, 05/02/2011 - 15:27 | 1231156 tmosley
tmosley's picture

Nothing shows that you have something to hide more than your constant evasion of simple questions.

For example, you have yet to answer the simple question of your nationality.

Mon, 05/02/2011 - 15:31 | 1231166 Dangertime
Dangertime's picture

I came, I called and laid out my positions.

That is more than enough to give credibility I would say.

I think I know your problem.  Your focus is on information that does not matter.

Mon, 05/02/2011 - 15:42 | 1231220 tmosley
tmosley's picture

You hide information that DOES matter.

If it doesn't matter, why are you withholding it?

Because you are a disingenuous lying bastard who got caught in a lie.  Now you are caught in another.

Face it, you aren't smart enough to fool the people here.

Mon, 05/02/2011 - 16:04 | 1231339 Dangertime
Dangertime's picture

Because I choose not to tell you where I live.

But I sure do feel sorry for that big ass $49 bag you're holding.

Mon, 05/02/2011 - 16:10 | 1231346 trav7777
trav7777's picture

listen, you dumb FUCK...the people saying silver was overbought (INCLUDING ME) were RIGHT and YOU were WRONG.

You are like an idiot leading a band of fools.

Your advice is a can't-lose fade any day of the week.  I mean a 14-period RSI of 88 and you were screaming STRONG BUY???  Look at the price action, clear negative technical divergence.

Just STFU already.  Don't blame the trolls for your being a complete moron.

Mon, 05/02/2011 - 16:16 | 1231369 tmosley
tmosley's picture

Uhh, I never said anything about a "strong buy".

If you want to fade it, go ahead.  Enjoy your poverty.

FYI, this moron was screaming that silver was going to the low 30's from the first post I ever saw from him.  He claimed to have sold his entire stash of silver, which he supposedly bought at the 2001 low, and expected to be able to buy more back at the lower price.  He told everyone else to do the same thing.  Thing is, by following that path, he has realized huge tax gains, and will, in fact, not be able to buy back as much as he sold at his price target.

But you don't care about that.  You have a vendetta, and that's the only thing that matters, right?

Mon, 05/02/2011 - 16:18 | 1231386 Dangertime
Dangertime's picture

Oh NOW you change your story from a strong buy??

How convenient.

Mon, 05/02/2011 - 16:46 | 1231426 tmosley
tmosley's picture

No, I said the fundamentals point strongly UP.  There is a difference.

But you wouldn't understand what it was, because with you it's either 10000% one way, or 10000% the other (with leverage), no matter how risky that position might be.

You know, if you really do believe in silver in the long term, you wouldn't just be buying puts, you would have calls as well, just in case.  You are basically playing volatility, which is a nice play, but you are biased to the downside, and will be wiped out by a move upwards, or a flat market.

And by the way, the fundamentals are UNCHANGED.  APMEX is fast being depleted.  Why would that be happening if silver was appropriately priced?

Mon, 05/02/2011 - 17:09 | 1231655 trav7777
trav7777's picture

Do we really need to go pull up your buy buy buy buy posts when silver was at 47?  50 this week, 60 next week and shit?

Or should we get the dozens where you called anyone who advised caution at these levels a dipshit and a troll for JPM?

Mon, 05/02/2011 - 17:20 | 1231702 tmosley
tmosley's picture

Yes.  Go do that.

Idiot.

Mon, 05/02/2011 - 19:19 | 1232158 Dangertime
Dangertime's picture

I do not just buy puts, I also go long WHEN THE TIME WARRANTS.

No matter how many times I TOLD YOU that I was bullish you just called me a liar and tried to pick apart every single statement I made, all of which are truth.

There will be a time to buy silver with both hands, but that time most likely is not going to be until this summer when silver is in the low $30's.

The other thing you do not get is that fundamentals drive the long-term market, but emotions drive the short-term market.  That is what I've been telling you and why I have been saying silver was going to fall.

Mon, 05/02/2011 - 20:22 | 1232334 tmosley
tmosley's picture

Yeah, whatever.  You sound like some young turk taking their first step out into the world of trading gonna make a million dollars out of nothing.

If you were really bullish, and you understood that the fundamentals point upward, you would be HEDGED.  It's not expensive.  In fact, you could be neutral and play the volatility both ways.  But you are just playing the volatility one way, and leaving yourself TOTALLY EXPOSED to a bull move or a leveling off.

Face it, you are super biased, and it's going to get you killed.  Happily, thanks to my efforts, and those of others, no-one here takes you seriously, so no-one else will lose any money following your foolishness.

Mon, 05/02/2011 - 16:21 | 1231388 Dangertime
Dangertime's picture

Oh NOW you change your story from a strong buy??

How convenient.

Mon, 05/02/2011 - 16:06 | 1231338 fellatio is not...
fellatio is not fattening's picture

what you say is correct, however puts on anything silver were NEVER behind today, if you were long you were ahead from the bell

Mon, 05/02/2011 - 16:26 | 1231406 Dangertime
Dangertime's picture

I am not sure how much of this you were around for.

I basically started buying SLV puts on Friday April 22nd.  I started small and just scaled in a bit the first couple of days.  I ended up doubling down a couple more times and finally on the night that it hit $49 in asia trading, the very next morning at opening bell I bought a shit-ton of puts.

Gap ups like asia gave us that night are very strong indications of market tops, especially where you have extrememly overbought conditions and add a parabola in to boot.

The result is that that I sat on a see-saw of green and red for a few days until the buying finally dried up.

I hope that explains the situation a a bit.  Oh, and add in a LOT of noise and hate from the perma-bulls who cannot see that nothing goes up in a straight line.  Beware the snake oil of greed.

Mon, 05/02/2011 - 17:13 | 1231674 fellatio is not...
fellatio is not fattening's picture

Dangertime, I read what was said as if you were DOWN when we opened and UP a little while later, same trading day, obviously that's not possible but also not what you said, no matter how you did it if you had puts at the open today you are a happy man, as long as the put gains outweigh the physical or long losses.  There are too many here that get offended if you insinuate that silver or gold could drop at all, as I said to someone else, when we went from $24 to $50 on the May contract with no correction that's not good, a 50% retracement brings us to ~$37 and that would be healthy going forward.  Good luck and good trading

Mon, 05/02/2011 - 19:24 | 1232162 Dangertime
Dangertime's picture

Gotcha, miscommunication there.  I was never down today, opened up VERY green.  I was a happy man last night when I checked silver before heading to bed.

If you can find the spot where I said I was down today, I would very much like to see it.  Too many people are defaming me here with lies and I would like every possiblity to clear my name.  So again, if you can find it, I would love to clear things up.

Good luck mate.

Mon, 05/02/2011 - 15:48 | 1231238 fellatio is not...
fellatio is not fattening's picture

I don't know if this answers your question but heres a shot, each SI future contract is 5000 oxs., thus a $1 move = $5000, the value of the contract is 5000 x price, so at $46, 5k x $46= $230,000 mgn requirement is currently $17,415 (per contract).  What are you asking using those numbers?  BTW, that mgn req is at Optionsxpress

Mon, 05/02/2011 - 15:55 | 1231277 fuu
fuu's picture

I am asking him to explain how he can go from down 5k to green in 2.5 hours when price did not change more than .30/oz

Mon, 05/02/2011 - 15:58 | 1231310 tmosley
tmosley's picture

You wave your hands around hard enough, you can fly.

Mon, 05/02/2011 - 16:03 | 1231318 fellatio is not...
fellatio is not fattening's picture

cant, just cant

Mon, 05/02/2011 - 16:08 | 1231352 Dangertime
Dangertime's picture

Which exact day and time?  We would have to check the fluctuations within that 2.5 hours.

Your mistake is most likely looking at the net difference in price for the 2.5 hours when a lot could have occurred in the time frame in between.

Example:  If I start at 9:30am with a price of 48, then drop to 46 and come back to 47.7 all within 2.5 hours, you can bet there will be a fear premium added to any put options from that kind of action.

Mon, 05/02/2011 - 16:05 | 1231340 Dangertime
Dangertime's picture

I am not using future contracts.  These are SLV options.

Mon, 05/02/2011 - 16:30 | 1231428 Dangertime
Dangertime's picture

BTW, appreciation for being civil.  There are usually a couple of open minds on the investing type message boards, but far too many sheep.

I started out as one of the sheep during the tech boom, until I saw someone who made decent calls and I chose to  ignore the heated attack on him when he went bearish at the peak of mania insanity.  Try hard not to join in the stone-throwing and you can learn a lot from someone who disagrees with you.

Good luck.

 

Mon, 05/02/2011 - 15:05 | 1231058 Bay of Pigs
Bay of Pigs's picture

My point being you refuse to face the fact of rising physical investment demand.

Now go get your fucking shinebox... 

Mon, 05/02/2011 - 15:11 | 1231070 Dangertime
Dangertime's picture

Rising physical demand for most of the last several months.  I'm afraid there is not much dry powder left for this round of the silver bull market.  Hang around for a year and we'll resume the bull market once we have some more powder ready to bring us to the moon.

Mon, 05/02/2011 - 18:02 | 1231877 oddjob
oddjob's picture

Dont be afraid.You have missed out on the Silver move so far and are to chicken shit to buy in now and are way to chicken shit to short sell,so instead you feverishly type wishing ill will on investors that have put a small percentage of their wealth in PM's,sucks to be you.

Mon, 05/02/2011 - 19:27 | 1232172 Dangertime
Dangertime's picture

LOL, I am going to assume you got burned today?

I have laid out my buys every time on this site and I have PLENTY of hate and rage directed at me to prove it.

Say what you want bitch, but you got your ass handed to you today.  I will be loading up again once this pig falls to the low $30's.

I'll even be nice enough to let you know, in case you want to make a smart investing decision for once.

Mon, 05/02/2011 - 21:03 | 1232408 greenbear
greenbear's picture

Backwardation.  The powder is not only dry, but the fuse has been lit.  You can't put it out by stomping your little feet. 

 

Time, time, time is on my side.  Yes it is!  I don't think it'll be a year though... but who knows? 

Mon, 05/02/2011 - 15:01 | 1231028 disabledvet
disabledvet's picture

TAKEDOWN!

Mon, 05/02/2011 - 14:28 | 1230890 Josh Randall
Josh Randall's picture

The man is making a profit, nothing to see here other than prudence, and showing others how a physical ETF with teeth and actual physical can make money. Unlike SLV

Mon, 05/02/2011 - 14:28 | 1230894 Ecoman11
Ecoman11's picture

10 contracts served for May 2nd silver delivery. http://news.tradingcharts.com/futures/2/6/157908362.html

Mon, 05/02/2011 - 14:32 | 1230905 Quinvarius
Quinvarius's picture

It doesn't make sense for him to hold PSLV with a 20% premium.  He can go buy the real thing at spot.  I bailed on PSLV at a 10% premium.  Which in retrospect was a bad idea.  But I just bought something with less premium.

Mon, 05/02/2011 - 14:42 | 1230939 lieutenantjohnchard
lieutenantjohnchard's picture

regardless what sprott does or doesn't do the usa is in a heckuva fix. jobs are scarce, budget and trade deficits are tremendous and the country is adrift. fed printing is the path of least resistance to fund the treasury and transfer payments. plus, tptb will not give up their lofty social position easily. it's a fight to the death. i'll hold my silver and gold tightly.

Mon, 05/02/2011 - 14:49 | 1230967 apberusdisvet
apberusdisvet's picture

Sprott sees a market correction coming; a big one.  A few other smart folks see the same signs.  Timing is a bitch, but better to lock in profits.  I wouldn't short anything right now given the printing psychos in charge.  But when it goes it will be the ultimate flash crash, brought on by, perhaps, a major attack on the US.  We must deflect away from the growing awareness that Obama and our Congress critters are totally clueless.

Mon, 05/02/2011 - 14:49 | 1230978 lieutenantjohnchard
lieutenantjohnchard's picture

here's the way i look at it. silver is off 10% from its high. heck, any security can drop 10% just because. gold is less than 1% off its all time high. oil is very strong. the dollar is weak, and basically on the verge of a terrible drop. the regulatory bodies and the big trading outfits are targeting silver and silver alone, almost. i think this pullback is within the norm of a garden variety correction. i'll be a buyer on weakness or strength either way given the problems of the usa, which in no way are being addressed.

Mon, 05/02/2011 - 15:04 | 1231037 disabledvet
disabledvet's picture

Gold higher, oil higher.  Will Silver SOAR?

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