Saturday, January 8, 2011

BEWARE SILVER PLAYERS updateI

Even though I believe we could be in the middle of a multiweek silver and gold correction. I don't see the price much lower than another 5-8% from here. Having said that the miners could easily go another 15-20% from here. This is nothing more than a healthy and WELCOME correction. The bottom last February in the miners was evident when it turned, but this bottom will need to be confirmed by some higher lows for me. Volume is less useful. Now...having said all of this be very careful if you are in this trade and want to lighten your exposure to PMs here. I would NOT and here is why. If you have traded according to the recommendations on this blog...your exposure to silver gold and the miners totally should be only about 40% maximum. Plus you should be holding at least 40% cash. There are some very unusual activity occurring in the Silver bullion trade that warrants grave concern for traders. I always maintain the ponzi can handle virtually any exposures their nefarious traders make but this one verges on danger for them to the point that merits your attention. An enormous ammount of Silver is exiting the Comex...probably to fill the LBMA losses. This cannot go on to infinity so I suspect the paper short positions will begin covering in Silver shortly if I am right. So in short (pardon the pun) hold your PSLV position. JOE hopes SLW sees 25...and I do too. But don't bet on it just hope. GL

http://jessescrossroadscafe.blogspot.com/2011/01/massive-customer-silver-withdrawals-at.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+JessesCafeAmericain+%28Jesse%27s+Caf%C3%A9+Am%C3%A9ricain%29

update I ...

http://seekingalpha.com/article/245494-just-one-stock-the-gold-explorer-looking-for-west-africa-in-nevada?source=hp_wc&wc_num=1

5 comments:

  1. Hey guys,
    Off topic, but wanted to know if anyone has read Matt Taibbi's Griftopia. Just started reading it with NJ's weather keeping me indoors. He has some pretty entertaining stuff in ther, including calling Greenspan a one in a billion asshole. His theme seems to blend with some of the thoughts expressed by you guys. He basically explains why the average American Joe is screwed but has no idea why, how or when. Just wanted to see if you guys ace read it and what you think about it.

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  2. Taibbi is very deeply involved in this now....it will be interesting to see how far he takes this. His uncle or father is an NBC reporter and Matt is very vocal about how compromised and utterly worthless mainstream media is regarding the selling out of America to the corporatocracy...Taibbi and Ratigan have more courage in their little finger than almost all of the rest of the media.

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  3. Taibbi is who I want to be when I grow up. I can not tell you how many times I've taken a URL of something he's done and forwarded it. Ratigan is a little out there, Taibbi is a journalist.

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  4. Homer...Ratigan's stacatto style is a negative...but his substance is worth a second look. I highly recommend listening to him now....it at least provides hope that some people are being informed by someone in the media......

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  5. Don't get me wrong, I definitely listen. I just think he'd have more influence and carry more weight if he changed his style a little. Too easy for many to dismiss him.

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