Thursday, April 12, 2012

A nice day for the miners with a short squeeze on the general market suckers today. But I am not convinced this is "the end". They may play this out with another up day Friday but watch for more shakeouts. On the other  hand from a technical standpoint we are showing evidence of very oversold conditions in many of these miners and we may very well see a nice move up here before any real shakeout occurs. From just the level of pessimism on this blog and other blogs I follow one has to conclude a lot of players in the PM miners have capitulated.



Sorry if you have taken a beating an puked up your shares, but that is the goal of the casino. Make it SO miserable to be in a trade that you give up your position to the strong hands at one hell of a discount. HEY....it works. gl all

50 comments:

  1. Nice day in the miners! Nat Gas just keeps falling, how much further can it fall? They are not going to give it away!

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  2. cost of production is 1.50....so that's prolly the bottom

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  3. They can take natural gas well below the cost of production to around $1 to wipe out the marginal players and then buy their assets in a hostile takeover or bankruptcy court before bring the price back up to $4-6.

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  4. you think they would DO that red???hehehehehehehe....

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  5. Saw on ZeroHedge that margins for silver/copper have been lowered. The question is, is this another bull trap or is it for real?

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  6. Per Keystone Speculator:

    QE1 raised the S&P about 600 points
    QE2 raised the S&P about 300 points
    LTRO/Oper. twist, about 200 points

    So, you can see that with each infusion of "Juice", less of a rise in the S&P.

    Keystone estimates that QE3 might only raise the S&P about 100 points.

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  7. damn , this miner trade is difficult. as an "investor" of ego,paas and gpl the swings get old. wish the i knew when a bottem in the miners has taken place. its hard to trust anyting in this mkt. i am long, but my hands are getting shakey. good luck everyone.

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  8. Look at the buying going on in the miners, Stock market down, and the miners are going green. Kli is right, the bottom is in.....maybe!

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  9. http://kliguy38depression2news.blogspot.com/2012/04/spain.html

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  10. Volatility is baaack! LNG short squeeze and my miners ain't green, no green at all...silver taking a beating margin lowering or no.

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  11. Sis,

    Kinda feels like being in a dingy without oars in rough seas, bobbing up and down in the chop and going no where.........

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  12. Silver looks to be back in down channel..market is going to be fugly until ben steps in with qe....

    next week Treasury is selling more than buying via pomo operation

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  13. miner move today technically healthy..so no worries......ego and exk green however.....rebalanced some ego/gfi

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  14. let's see if any buyers sneak in last hour....exk red but ego still green....

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  15. right on Q .....beatdown in PMs with Bernanke princeton speech......very coordinated.....lets see how much they get it down

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  16. Well, the Monkey Business is back.......

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  17. yes tom.....i notice a decidedly capitulatory tone on the PM blogs....hehehehehehe.....turd ferguson's cheerleader bullshit just went into the toilet and he just had a meltdown post.

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  18. this beatdown in gold is onehundred percent within the retrace allowed.....easily see 1630 and still be in an intermediate term bullish leg

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  19. Just read Turd's Blog as well, everyone seems to be throwing their hands up and quitting! We must be close to a turn...

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  20. yeh rudy.....that blog is good for sentiment......most of the good posters were run off by turd and his "censors".......watta jerk!

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  21. just posted a 15min chart on KGC......sold some phys and added KGC

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  22. Kli, your right. There were a lot of good posts back when the blog started. guys like atlee, silver surfer, etc. Those guys are gone. It real political now. Also any voice that talks bearishness on PMs is quickly eliminated.

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  23. yes rudy he had a great blog but he surrounded himself with some real negative energy...moderator jane was a real anchor on him and he deserves her

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  24. Well just took my Dramimine again sitting in my dingy, just going up & down, round and round, going no where.........

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  25. quick review showed bids on miners at close......

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  26. Afternoon delight! What a coupla months...I'm trying to ignore & keeping living, lol. PPP & VGZ closed flat, I take that as positive. It's not gold/silver that are bothering me, agree they're still in trading range (esp. gold), it the MINERS! I expected down today, just not so much please. Have a great week-end all.

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  27. sister .....you must be holding a butload of them like someone else i know........because they were not down that much but when you are loaded it can seem that way.....let um whack um

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  28. Seems like alot of 'em will have record profits if oil keeps coming down. Remember JP (the Morgue) owned the Titanic so even he couldn't win them all!

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  29. sis a lot of the projections on the miners profits use a gold price of 1100 for the estimates......so you see the game don't you

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  30. http://www.superforce60.com/video/2012apr13spcotrtvid1/2012apr13spcotrtvid1.html

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    1. KLI, you see this little blip?

      "Mexico's IPC Index Plunges After 'Wrong Order'"

      Yea sure... wrong order... someone cleans up every time something like this happens.

      http://www.cnbc.com/id/47045445

      It was probably all planned. Gosh I'm starting to sound like you.

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  31. hehehheeh...jay of course they have to clean it up......and every tick is choreographed and backed by digital fiat.....they don't even have to print paper anymore......its the ultimate ponzi

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  32. Hehehe...sooner or later we all start to sound like kli...I sent a friend over here (he's out now except for physical) a yr. or so ago and after reading the blog his comment was "I sound like a mini kli". Wonder what the real, real proftis are if profits are currently based on 50% discounted pog. Is silver the same? Tia.

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  33. Just watch the superforce vid...is this something you subscribe to or is it public? I would like to send to my son & a couple of others if ok with you. I LIKE it! Lol. (After a month of feeling kicked in the head).

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  34. one of my favs.....which means watch out below

    http://www.fool.com/investing/general/2012/03/21/heres-why-i-bought-this-junior-gold-miner.aspx

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  35. what's really funny is I here more and more of the MSM pundits sounding like what we have talked about for over three years now....even Cramer says by physical gold......makes me want to sell it.......hehehehehehhe....here is the key though...when you go to a group of Investors/peeps and ask how many own physical gold or mining stocks and half the room holds up their hands you know we're getting into the last couple of innings.

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  36. also when you see two and three hundred dollar daily moves in gold then lighten up

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  37. Well let's get there first than we'll talk!!!! hehehehe

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  38. I know what you mean about the msm, esp. cnbc. But is the Superforce60 analysis of the COT reports to be trusted...it looks like they are accumulating. I realize they could still beat it down so they accumulate even lower. So are you saying his vid means nada? Wow, 2 economies here...money everywhere but crime rate escalating at an alarming rate. More bank robberies so far than in all of 2011. Even tho I'm an investor, have to admit $200/$300 daily moves would scare me. It means something is terribly wrong. LOL, Tom at this point even $1850 sounds good.

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  39. eventually we will see even greater daily moves in gold......that will be the final phase move and you probably won't be able to move your physical gold safely for a variety of potential reasons....eg. NO one owns physical gold so those that do will be potential targets....more than likely silver will be used as a means of exchange if the "shtf" scenario plays out.....barter has already begun in southern eurozone countries......loss of fiat confidence will only worsen....that is why it is important for the PTB to fight the price of gold and silver.....the headline price highlights the loss of confidence in fiat and accelerates the public's panic into "other assets"

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  40. Not sure about pslv, phys & cef in that case. Anyway, the most imp. thing I read today you were discussing at least 3 1/2 yrs. ago...Zero Hedge on why the market is dying, now Morgan Stanley & GS acknowledging that hft does nothing to enhance liquidity. And now I actually understand what that means!!! Muahha. Or whatever. So my physical gold will be useless? Hmmm.

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  41. NOT useless....a store of wealth cannot be over emphasized....however phase 3 gold moves can be associated with factors that make selling the gold difficult....eg imposition of tax burdens or restrictions or just fear of thievery

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  42. I’ll take $ 1850 and $ 37 right about now, was just being myself with the last snarky comment but I’m seriously not looking forward to $ 200 daily swings because when and if, at that point, we will have bigger issues to deal with…….

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  43. "imposition of tax burdens or restrictions or just fear of thievery"

    Yup, they ain't gonna make it easy that's for sure.........

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  44. http://www.24hgold.com/english/news-gold-silver-turds--gladiators.aspx?article=3875871816G10020&redirect=false&contributor=Gary+Tanashian

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  45. btw tom........snarky is good on this blog...hehehhehehee

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  46. Kli,

    Being an "Investor" now, I will admit, is in an odd way somewhat more relaxing and not as stressful or in some cases as much fun chasing intraday swings ect...

    but I like these few comments at the end of the Op-Ed:

    "Why not save the emotional ups and downs, put that energy into day to day life and understand that we are going to get where we are going despite pathetic attempts at manipulation of the macro by the 'cartel'?

    Gold is a tool that Central Banks, big financial institutions and various authorities use to temporarily manipulate the macro. Most recently, the actual manipulation was performed on Treasury yield relationships, which in turn hurt gold, which in turn helped alter the macro ("And contrary-wise; what it is it wouldn't be, and what it wouldn't be it would. You see?" --Alice). It's just business, perverted and way out on a limb though it is.

    Don't personalize it, or you risk becoming angry and biased. Anger and bias promote wrong decisions. The gold 'community', with its various leaders and caricatures is more like a cult than anything, and this hurts the 'community's' supposed effort to bring the monetary metal into the mainstream."

    That's it for me today gonna go out and enjoy the nice weather up here in da Long-ga Island

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  47. Cramer is advocating physical gold?

    The end is near.

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  48. I HAVE NO visibility on how low they can tank the miners from here except to say its not going to last more than 2-6 weeks IMO.....and the rebound will be strong

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