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Silver Slumps As Risk Broadly Recovers
Global risk markets and US equity futures were drifting lower together (post China trade deficit data) into this morning's confusion in Europe but around 430ET, equities pushed higher, Treasuries rallied rapidly as we approached the US day session open and broadly speaking risk was off (in everything except stocks). Commodities dropped notably with Oil and Silver losing over 1.5% from Friday's close before heading into the US open. The across-the-board weakness in credit and our broad risk asset proxy (CONTEXT) reversed, as if by magic, as the day-session open in the US dawned and led generally by Treasuries, which staged a 4-5bps sell-off from overnight low yields (with 2s10s30s notably rising on 30Y outperformance and 10Y underperformance), we leaked back to unchanged in ES (the e-mini S&P 500 futures contract) having traded in a very narrow range all day on low volumes (across MAR and JUN). VIX made headlines for its low levels but the steepness of the term structure should be a much bigger concern. AUD weakness spurred much of the early risk-off but accelerated stringer into the US close to maintain equities as close to green as possible. A very noisy day given very little news/event risk and the general confusion in European sovereign markets which all leaked wider. Credit and the vol term structure remain notable canaries as it appears EURJPY has become carry trade-of-the-day once again.
Credit and equity resynced into risk-on from the start of the US day session but credit (especially HY) remains notable underperformer post Greece...
It is worth perhaps noting that HYG ended very marginally in the red while SPY very marginally in the green and 4 of the 5 times this has occurred this year, SPY has underperformed the following day (and we note HYG pulled rapidly up to its VWAP at the close - suggesting some selling pressure).
Commodities showed some further divergence as Silver lost its luster today relative to the other metals (and WTI)...
Broadly speaking though the underperformance of Oil and AUDJPY kept CONTEXT weaker while the recovery in EURJPY and sell-off in Treasuries (and 2s10s30s) is what kept the spirit alive in stocks - even though volumes were abysmal...
Charts: Bloomberg
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New downtrend forming in GSR:
http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&p=36816#p36816
324 years of the gold-to-silver ratio
http://seekingalpha.com/article/422081-324-years-of-the-gold-to-silver-r...
BUY THE FUCKIN' DIP!
http://www.youtube.com/watch?v=LO2eh6f5Go0&feature=youtube_gdata_player
I want to be able to dance like this guy!!
all I know is that silverbugz lemmings who stampeded back in with the breathless calls of "silver to da moonz" when it showed some life moving from 33 to 37 have gotten their heads totally cut off and blowtorched
and when it goes back to 50 will you be here like JonnyBravo?
I'm as bullish on silver as they come, but he's right. Why junk him? Silver longs got ASSRAPED. Me included.
Tradition.
just hold and all will be well
Speak for yourself...
He doesn't know squat.
I've bought at $30 and last week at $33. Oh woe is me....the DCA of my stack has moved from 9 to 10...now 10 to 11.
You got ass raped because you were late to the party.
Not all of us fit the profile you resemble
We junk him because he has absolutely no comprehension that some people dont give a shit about playing the day-to-day price movements. I'm 25, very little investible income... but I put every bit I can into physical silver when a dip coincides with an abundance savings. My average price is well below $33 dollars. I'm bullish and no amount of Trav's incessant bitching will change that. No one will pry my physical from my possession until I buy myself a house and thats not gonna happen until housing prices come down from the stratosphere.
Yeah, I got killed buying my load @ $16. Waiting for the drop to break even again.
Silv4er is a buy under 50. When you are fighting Jamie, you are in for a fight. Sorkin says he is ripped and with all that free Gov't cheese, he can use paper to mark down silver like JC Penny. Until he cant
using that gives a price for platinum of what, like $20,000 an ounce?
This is why crustal and production ratios are not as useful as they might seem.
Platinum is more common than gold actually.
http://en.wikipedia.org/wiki/Abundance_of_elements_in_Earth's_crust
Prices in FRN could cross again anytime now ...
lol, just not in any commercially recoverable deposits...
Screw silver. Buy gold.
Kyle Bass on gold: http://www.planbeconomics.com/2012/03/12/kyle-bass-says-gold-is-going-a-...
i can't wait for the day when silver and oil are priced in gold ......
I can't wait for the day they start disassembling houses for the underlying commodities,
oh right that's not happening anytime soon either.
Pull your head out of your ass and you'll see that it's been happening for the last four or five years. So far it's just been for the copper. At some point, any unbroken windows will be repurposed for greenhouses, and lastly the framing and particleboard will be used for firewood. The only thing left will be the soggy remains of chinese sheetrock.
"windows repurposed for greenhouses"
~~~
I've already done that... (Not with an abandoned home, but I just saved the old windows at the house when I had them replaced last year... They're being re-purposed for exactly that [greenhouse])...
I didn't replace or remove any copper, but I got my hands on as much junk copper I could (& bought the rest)... Made a radiator type tubing system to pump warm water (when needed) under the soil beds to help keep them from freezing (&/or cold water when the soil gets too hot)... It's still kind of rough, but it works...
Gold will get killeed. When Bill (used to b a weatherman) Poodle of CNBS plays with gold bars from the NYSE floor...the top is in
Bingo.
Sorry folks. CNBC is showing Prime Time Specials on Gold.
Think about it. CNBC is a mouthpiece for the cartels.
They are putting gold on PRIME TIME HOUR SPECIALS......why would that be? Is it because they want you to protect yor wealth? OR could it be the cartels looking to sell to bagholders maybe?
Buy at your own peril here.
Gold needs to hold over 1730 to be a buy and it needs to close over 1800 to be strongly bullish.
We are likely to see a short term drop to 1600 or so IMO.
Again, long term still bullish, but this is being setup to sucker you in or the short term.
Bullshit...
Look ~ I don't care one way or another, but looking to see what CNBC is doing to get a read on gold prices (in paper dollars) is ridiculous...
CNBC has done many specials on just about anything... Once you have footage in a can, it's a lot cheaper to re-edit it and put some programming on the air to save money...
I've also seen CNBC specials on hookers & marijuana...
Are you gonna call a "top" in weed & prostitution as well?
Wrong. Screw gold buy Silver. Seriously.
Probably more accurate, but anyone with either PM will do well for themselves. If they hold a significant % of their portfolio in it, they will maintain their social class, or move up one, pretty much no matter what.
For them to send that shill Pissonme down to Dallas to interview Kyle Bass tells me Pissonme's Bosses wanted Kyle's views on the record one more time before they take the pm market down hard. This is bearish short term.
Transitory.
Completely off topic but anybody understand the BDI & BSI jump. Is CB liquidity being used to buoy shipping rates now ?
A VERY divergent and noisy day indeed. These CNBS anal-cists are living in Gumby Land! All of the normal spring (Q-2) spending was done in Q-1. If they think 107$ crude-( 125.$ brent on the coast), WHERE THE BIG BUCKS ARE, is going to make for a " Go it BIG" Memorial day, then they had better head back to their HOPIUM PARLORS! This shit makes me laugh! Look at the pathetic volume!
These asshats are out of fresh Fed $'s and are trying to scam the retail market! What a fucking farce!
Tomorrow, tomorrow, I love you, tomorrow.
Bernanke's only a day away!
Silly wabbit - do what the HFT bots do: Buy equities!
It's interesting Jim Rogers still prefer silver to gold at these prices but Kyle bass and Michael Burry advocate gold purchases:
http://michaelburryblog.blogspot.com/2011/12/michael-burry-long-gold-and-farmland.html
http://kylebassblog.blogspot.com/2012/03/on-why-kyle-bass-owns-so-much-gold.html
We will see who will win it at the end.
All the PM owners will win. It's just a matter of whether they get the grand prize, or just first.
if you expect to win, you better hope the money supply picks up.....its rather big news that m1 and m2 are down lately, and that despite this, ben wont budge on qe3...............big deflationary wall of water coming soon...? dont expect any au or ag movement past their highs until qe3 is announced....and thats at least a year away.....
lol, sure. You keep saying "deflation, deflation", yet money is being printed like no tomorrow, and gas is $3.55 in MARCH. Not to mention the prices of everything else.
You don't get deflation in fiat currencies for any significant amount of time. Not when people are running the presses and monetizing debt.
the fact that you just made this prediction with such certainty should make ANY holder of PMs *very* very fuckin nervous because your predictions don't normally take longer than a few days before blowing completely up in your face.
Let's just all cross our fingers and hope that this is one of the "twice a day."
Better sell your Phyzz Trav. Do it if you have an ounce of conviction, you lowlife.
EW's just correcting currently. $33.14 is break point. If it breaks through that, it will fall up to 10% further. However, Silver is still longterm very bullish. It will start to go up very soon - weeks / months.
Patience on this correction, because once it does complete, it's the last time the $30's will be seen for a very long time.
PMs havent done crap in 2 years. They're due for one.
well one trick would be to allow deflation to knock down oil/gas a bit during the summer's usual rise and that whole Iran invasion.. then print to infinity once the wells are stolen/liberated
trav you spew malodorous disinformation purely for the purposes of creating unwarranted hostility. perhaps trav you can point to a prediction of mine that has blown up? was it my call since last year that we wouldnt see qe3 until after elections? in fact i make very few calls here, so perhaps you can scan through my comments history and post one. thanks
and you are using gas prices as a barometer of inflation? not..........take a look at raw commodity price indices and let me know how they have fared since the end of qe2....take a look at gold, silver, etc. all off of their highs from last year.....you inflationistas love to say "print print" merely for the sound of it. yet when objective charts point to money supply shrinking, and commodity prices down off of their 2011 highs, and velocity of money in a freefall, you choose to instead shout self serving phrases like, "print" "print". you have nothing to go on to show printing or fed balance sheet expansion has continued in any real way since the end of qe2.......
Hi kito!
I can't wait for my Roy Rogers to start pricing down according to the indices.
This consumer says bring back the good ole days when one could absorb a Roy's regular roast beef, small fry, medium drink for $6.45.
Don't worry, pink slime content is being boosted to 80 pct.....
Sweeet! Cuz personally I can't taste the shit anyway.
ZIRP=QE
Next.
Gas, more broadly energy, goes into EVERYTHING. As such, gas, and more broadly energy, are good inflation barometers.
Raw goods be damned. You don't eat hard wheat, you eat bread. And the price on that stuff only goes up, or the quality/quantity drops. I'm sure before long I will cut into a loaf of store-bought to find that it is just a crust surrounding one big air bubble.
You're right, after the 30% price increases in everything over the last 2 years we can expect the Fed to take a little breather, right? I mean, clearly the monetary expansion is just a result of our benevolent rulers caring for us little serfs, not bailing their own asses out from the raging brush fire that they themselves have created and are terrified of. Are you a fucking shill for the central bankers or something?
Yes a breather, until elections....but to scream "print" when in fact it hasn't been happening for the past 8 months makes one also seem a bit disingenuous .....my point is that qe2 is wearing off, and there has been no boost as of late by the fed, and that is being reflected in pm prices......
They don't just flip a few levers and switches to determine "the inflation", but that's the whole premise behind their existence and what they have failed utterly at. The Fed has been printing to bail out every Government and CB in the world for the last 8 months, they just aren't calling it QE. I don't expect they will have something called QE ever again, they will either keep doing it in secret or name it something else.
no products, only profits
but to scream "print" when in fact it hasn't been happening for the past 8 months makes one also seem a bit disingenuous . . . especially when everything from elect-shuns to general electricks to what's now digi-dollars fly-through-the-air and-out-the-window like ffiat straight from the fed to its banks ooooooooooooooooooooooooo completely bypassing citizens, consumers, labor, peons, pistons, production and all such widgets or archaic relics of work which have not caught up faster.faster to this our very own era of Ars Electronica
my point is that al-qe'deux is from here on in even less an intel-op than a-state-of-mind, like zion, and yous guys is neither in it nor in on it
kinda like, everywhere outta-thin-air Only Our Own Oxygen
00000000000000000000000
Yes a breather, until
hypoxia we pull all the plugs,tubes'n'wires in complete systemic collapse
your fuckin lungs, and like everything you think is economics. stupid
....but to scream "print" when in fact it hasn't been happening for the past 8 months makes one also seem a bit disingenuous
the last 8 months have been all about Europe... same shit, different sandbox... You're not exactly nostradamus for making any calls that there wouldn't be QE3 until after the US elections... "QE" has been going on stealthily in the form of "Operation Twist" & LTRO (& while everyone is pointing their fingers saying "look over there at those miserable Greeks")...
So long as there are diversions, smoke & mirrors, you won't hear the term "QE" (until they are ready to make it digestible again as the only thing that will SAVE us)...
But money printing is money printing... And it never stops...
if you expect to win, you better hope the money supply picks up.....its rather big news that m1 and m2 are down lately, and that despite this, ben wont budge on qe3
******************
I've showed you a couple of times now that your infatuation with the direction of M1 and M2 are not governed solely by money growth or shrinkage-but of course you don't or can't answer to it-
Your infatuation with money printing being the sole reason the price of gold goes up is also bulllshit-
Gold quadrupled in price from 2001 to 2008 and there was "no" money printing-in fact printing was decreasing-
http://bit.ly/yOdRXC
So explain how gold rose with no printing and why there must be a QE for the price to rise now-
I think you have it assbackwards and you do not know how to track money supply and you do not understand what has been driving the price of gold long term-but you keep screaming how right you are about it all-
I wouldn't touch equities with " Helicoptor Bens" pole! And eat shit you junksters. I did just fine shorting the crosses over night!
I see an uber bull flag
http://silverprice.org/charts/history/silver_5_year_o_b_usd.png?0.766744...
Guy from Raymond James on CNBC today saying that their retail investors are starting to buy into equities.
I wonder what the "trigger figure" is at the FED for letting the markets crash again so the banks and investment houses can eat more retiree assets?
Boy, the financial rapists sure have trained their slaves well." Alright, we reeled them in with the third low volume meltup in as many years, time to throw the retails over a barrel and have our way again!"
Retail investors weren't really reeled in as fund redemptions continued largely unabated through the third low volume meltup in as many years.
Of course the retail guy is neck deep in commodities but they could never get thrown over a barrel or anything there.
I love days like these. Assclowns and algos pushing PMs down for me to pick up on the cheap.
Hope you levered it up
Yeah, they'd never raise margins willy-nilly, and force folks to sell instead of take delivery.
That would be insane.
How would you like your dividend?
gold or silver?
GORO is going to start offering just that April 10th, this seems worth looking into.
Good Dip! Goood Dip. I love Dips. Hmm.
People get really worked up about silver, gold, and equities.
Deep breaths, guys.
Breathe deep the gathering gloom,
Watch lights fade from every room.
Bedsitter people look back and lament,
Another day's useless energy spent.
Impassioned lovers wrestle as one,
Lonely man cries for love and has none.
New mother picks up and suckles her son,
Senior citizens wish they were young.
Cold hearted orb that rules the night,
Removes the colours from our sight.
Red is grey and yellow white.
But we decide which is right.
And which is an illusion?
http://www.youtube.com/watch?feature=player_detailpage&v=fx6iIp-PvnY
DSOM, best album ever...
1000mics into nowhere
. . . everywhere . . .
consciousness
while without conscience they did decide which is right . . .
increase in troll activity is usually a good indicator that gold is about to make a move higher. Nothing new here just repeat of what happened in 2008, 2009. They can knock it and knock it and knock it but gold will break over 2000 in the near future
Trav? Eisenberg? Paneful? Stanwick?
Nothing to say Gentlemen?
You learned blokes be a hoot talkin bout the qe stuff. That cartel from the isle Jekyll ease on a daily basis; they just run it in a sluice throw it in a spiral wheel and call it 0% over night lending. there be dozens of ways to dilute currency void of the publika noticings. The military complex be the slider on the black at the moment with the hawk obama assisted by that prop jockey mccain; you know the guy that was shot down by a slick shootin vc with a over powdered musket. In conclusion the best advice posterity can receive is to invest in themselves void of burdensome debt, own real property rights and learn husbandry and mining all whilst holding silver and to some extent it's lessor cousin gold.
Investing May 13, 2010,
The Gold Frenzy: Why Investors Should ResistThe price of gold is at a record high, attracting the attention of many retail investors. But this precious metal is no safe haven
ByBen Steverman
As an investment, gold has never been more popular. And, for individual investors, that's part of the problem.
Gold spot prices hit a record of $1,243.10 per ounce in Comex trading on May 12 before slipping $13.90, or 1.1 percent, to $1,230.10 on May 13. In the past three years, the precious metal is up 84 percent. The SPDR Gold Shares (GLD) exchange-traded fund now contains $48.1 billion in assets, with the number of shares outstanding up 111 percent since September 2008.
Encouraged by TV and radio ads touting the virtues of gold, retail investors are buying it up. One leading gold dealer, Goldline International, estimates it has added 50,000 clients in the past three years. The gold frenzy is worldwide: On May 13, a vending machine that dispenses gold bars was unveiled at Abu Dhabi's Emirates Palace hotel.
Financial experts warn that all this enthusiasm for gold could be a warning sign—that gold prices could be near their peak. "It's very in vogue right now, which is usually a telltale sign [of] a bubble-like mentality," says James Miller, president of Woodward Financial Advisors in Chapel Hill, N.C.
Hahaha, great comedy. Just like Douggie Kass predicting at the end of 2010 that gold would drop below $800 in 2011.
I don't think he even mentioned gold in his predictions for 2012. He must not like the taste of grilled crow.
Any of you people who but your silver (or gold) online ought to change your routine a bit and walk your ass into a local coin shop...
Almost every time I go, there are more people SELLING their scrap jewelry for cash than actually buying anything... Just last week, when there was the hammer dip, I had to wait in line behind 4 customers that were selling junk coins, sterling silver, & gold jewelry... I was the only on there to BUY (ASE's as it was)...
I guess all those people were shrewd investors cashing out at the top... I feel like such a fool...
yes I've seen that for years people selling their gold and silver and gold still has gone up every year. I saw it in 2008, 09, 10, 11 and gold keeps going up. SO thell us who is the stupid one
ha ha, shake out the wannabes, keep your powder dry to those that know
Bingo. The purpose of the gyrations in price over the last couple years has been nothing more than moving the metal from weak hands to strong hands.
It really would be interesting to see what silver and gold did in a free and unmanipulated market.
We will never know.
You may get a taste later this year. The Asians are scheduled to open an exchange sometime later this year to compete with the LME and CME casinos.
Their PAGE project got derailed....but according to the grapevine, they haven't given up the idea.
Time will tell.
I enjoy the manipulation. Pikers like me need every advantage to pick up cheap physical we can get.
The arrows in the Bullion Banks quiver are running low....before this bull is finished...they will likely lose the control to manage things
...and in the world of inverted backflips, finished with a perfect swan dive...yeah right.It always ends up hitting it's own head on the diving board.
1.2 for degree of difficulty. 3.0 for hitting your head.
My 5 yr old kid showed me some birthday money she stashed under her bed. That was just way too much paper IOU's for me to see so I talked her into buying some metal coins. Monarch Precious Metals has some nice 1/2oz rounds with a butterfly on them, perfect for a little girl. They even have them available in individual airtight plastic holders in case your kid cant resist playing with them. And I bought a few oz. for myself sa well, since I hadn't bought any silver in like 2 years.
Anyone watch CNBS Bob Pisonme's GOLD show
Think he really was in the GLD vault - apparently accounting for all the GLD Au?
Too much brain-dead discussion in this post by the fiat zombies, who actually fret about the "value" of silver priced in a fiat monetary system with zero fairness, discipline, or accountability. Either grow some balls, or accept your endentured servanthood on the path to fascism.
when the risk on is over?
http://www.cnhedge.com/
http://www.jinrongbaike.com/
Fuck off, spammer!
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