Wednesday, May 16, 2012

NO WAY BUD...I'M CALLIN' BULLSHIT

Maybe he's right callin' bullshit, but so what? It is what it is and who is the greater fool? You know whose casino this is and they make the rules...NOT YOU. Oh! I'm sorry. Let me guess. You thought there were rules they had to abide by since you had to. Whoops......sorry.....not in this casino. Will this violation of ethics and morality be punished? Dunno......and frankly don't care right now since this game is getting into some very complex and serious consequences that are going to directly affect you and yours. We are getting closer and closer to the SHTF time that could have you waking up to a mind numbing bone shattering bitch slap of the most serious kind. Out of left field possibly or just out of what has been staring you squarely in your face for the last several years and that is the Madoffsky ponzi bullshit economy that you are living in on a daily basis and hoping doesn't blow up in your face one day. I know I am one of those peeps that is hoping that these ponzi pushing perps keep this mess alive and kicking somehow so that my children don't wind up in some Mad Max survival game. Look at it this way....there is a whole spectrum of outcomes and most of them are bad and some are beyond bad. I'll hope for the best and try and reasonably plan for the some of the worst. Not all of the worst because the very worst probably aren't survivable and if you did you may not want to.

Reminder to all ......this is a bullion game now against the headline paper gold price game. Expect some hard turns and volatility but they are trying their best to extend the headline gold price as NOT A SAFE HAVEN TRADE. I repeat.......EXTEND EXTEND AND PRETEND. They are using all the power of manipulation including forcing margin calls and liquidation. Including MSM constant propaganda restating GOLD IS NOT SAFETY TRADE!!!!. I swear if I hear that little Brit Twit Simon on CNBS give one more assinine quip on gold I'm going to barf. Actually I find Simon entertaining as hell and reminds me of a little banty rooster. He has NO fear but he is a little prick.

OK ....I'm finished with my profane laced rant and want to thank the gang for their comments and remember your participation in times like these help a lot of people that read this thread hold their trade. Don't underestimate the value of the participation in the comments. gl all

56 comments:

  1. Funny you mentioned barfing, thats what I felt like doing yesterday after RIC dipped under $5 !!! This is getting tough to stomach!!

    Thought this might be worth while to post from Harvy Organ's blog:

    courtesy Dave from Denver/the Golden Truth)

    Soros Quadruples His Investment In Gold

    Everyone in the precious metals/mining stock sector is looking for anything to grab onto for optimism. (ME INCLUDED.. hehehe) Nothwithstanding that this type of sentiment always demarcates a bottom, and notwithstanding the fact that the basic fundamentals underpinning the precious metals - like catastrophic Government deficit spending and disastrous Central Bank negative interest rate policies - get stronger by the day, here's an excellent harbinger of a potential bottom/upturn in the metals/miners: Soros has quadrupled his exposure to gold via GLD: LINK.

    This sell-off in the miners has become silly. One particular stock AUMN (which acquired ECU Silver) is now selling at a little over 20 cents per old ECU-equivalent share. At one time in 2007, ECU was over $3.30/share. This valuation implies that AUMN's silver in ground is valued at 30 cents/ounce. That is retarded. A couple years ago silver miners were selling for $1/oz in the ground. The price of silver is higher now and margins have exploded.

    I don't know when this sell-off in the sector will end and the next move up will commence, but I just got off the phone with a longtime friend in NYC who told me that he just spoke to a very plugged-in "insider" (i.e. politically connected) type who told my friend that a massive QE in Europe and in the U.S. is coming and that this is the flush in precious metals that you want to use to back up the dump truck and buy because there might not be another opportunity like this going forward.

    Back to Soros, I've noticed over the years that he has had good success as a market-timer in gold and mining stocks. As a matter of fact, he was the largest shareholder at one point in the predecessor company (Apex Silver) that became Golden Minerals that took over ECU. He sold Apex almost at its apex. At any rate, it is my strong belief that he uses GLD to index the price of gold for trading purposes. He's smarter than me and must know the potential Enron-type legal structure that belies the GLD trust structure. I would also bet a lot of money that Soros, given that he is a Holocaust survivor and Nazi occupation escapee, has accumulated a massive personal holding of physical gold.

    For what it's all worth...

    GL today......

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    1. soros has been spot on......but i would be in physical like einhorn and bass

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  2. I had CNBC on early this morning and the talk was very anti-gold. Once again, Joe Kernan had to mention the fact that you cannot "eat gold". When you think of all the various products that you buy thru the year, many of them are not edible. CNBC was really pumping Facebook, but to my knowledge, Facebook is not edible either.

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  3. OT- Talk about biting the Beast that feed's you?????

    http://www.bloomberg.com/news/2012-05-17/n-korea-ship-seizes-chinese-boats-for-ransom-global-times-says.html

    Yup, it's offical the World has gone completely insane!

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  4. Some Comments:

    Phil Davis believes Facebook is overpriced and is concerned that the markets will really tank if the IPO does not go well. Maybe that is why CNBC is doing such a pump job.
    He also stated that there is a run on the Spanish bank "Bankia", with 1.3 billion being pulled out the past week.

    The Yahoo Finance page has an article that the EU will require a "Flood of Euros" to save it. I am not sure how much a "Flood" is in monetary terms, but it sounds like a lot.

    The Keystone Speculator wrote today that based upon the parameters it follows, we are now in a "secular bear market".

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  5. This guy is just embarrassing.....

    Just goes to show you the IQ of the residents in the State of NY!

    http://www.zerohedge.com/news/schumer-introduces-ex-patriot-act-will-banish-those-who-renounce-us-citizenship

    Guess we are laying the foundation of the American version of the Berlin Wall!

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    Replies
    1. Hey, Hey.... not all of us are this brain dead! I read this article and just laughed. Sheer idiocy!

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    2. No offense intended Rudy! As a lifer here in the Empire State, I'm questing mine!!!!!

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  6. Nice bounce right at crucial support from late yesterday. We might have another retest in store but hopefully this is it... Good risk/reward area if you haven't put down any chips yet. And if we break $26 you can bail at a small loss.

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  7. that AUMN looks nice..


    GALE is running today...outstanding data release on breast cancer, I was going to post last night but was just pc'd out....

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  8. Man TRX is fun to watch! The July $4 calls got as cheap as .20 on the ASK yesterday for about 10 minutes. Now it's at .35 and probably going to hit .40 at this rate very soon. Sadly had no powder dry but should've mentioned it to you guys ugh.

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  9. I think silver has reversed..i like to see it close of 27.40 and I think it will. The doves at the FED and ECB have no choice but to print. Today a firstsign of this market down and gold, silver up.

    GL all

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  10. moves will be more volatile going out......note the percentage moves today alone on some of these 10% on AUQ etc

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  11. THAT is how you flush a sector out.....now the question is to keep you out AND to get you to puke up if you held on JUST as you get back to even

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  12. IMF just stated more uncoventional ECB easing needed...

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  13. second physical order on silver this week just completed.......that took forever...they apologized for taking so long and said they have been SLAMMED..... I use them all the time and they have never said that

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    Replies
    1. I noticed APMEX's website has been down a lot the past few days for very long periods of time. I don't think they wanted to sell their holdings for that cheap do you? :)

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    2. could be...they know a bounce at least is coming

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  14. Phew feeling SO much better about my AUQ now. 10% in a day? Can we have this happen a few more times please? :)

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  15. just put up an AUQ chart......look at that candle.....can you say......short squeeeeeeeeeeeeeeeeeeeeeeeze

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  16. They spent weeks beating down silver and gold. CNBC, Yahoo, and Bloomberg all running anti-gold stories.

    Then we see today.

    Whatta game.

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  17. when CNBS is talking about rumors of runs on the banks in spain......you KNOW there must be mega runs on um

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  18. Gold, Miners are higher and the S&P, DOW falling.... could be short term but its better than the past few days.....GL all

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  19. Hi, guys. We sorely needed this...InTheMoneyStocks says this is bounce, then comes even bigger flush to about 1320 on spot. I will keep you posted on their targets for the interim top...they like to let it out in dribs so that one keeps subscribing, but I have watched them for about a yr. and they are generally very accurate even if timing can be a slight bit off. That's all it took, hedging via some shorts. Out of them. GL everyone & let me say again how I appreciate your support.

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  20. Oh, dipped toe in PPP @2.61...Scottrade shows an eps of 1.04, can this be right??? So the p/e is 3...

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    1. Yep... It's one of the better miners for sure. If it had options I would be trading them instead of AUQ.

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    2. YES...its not the only one

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  21. Sold my RWM for a tiny profit.
    Lookin' to buy something.
    I tend to think that they will gap the markets up tomorrow at the open due to Facebook.

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  22. Speaking of Facebook. Is anyone here planning on buying any?

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    1. Going to sit back and watch myself. I'm sure it will open up huge but close below it's initial opening price. LOT of early buyers are wanting bail early and I can't blame them. Sure Facebook is ultra popular but can it use advertising to make money like Google did? I don't think so.

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    2. Not me by a long shot....... I'm done enough at the moment!

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    3. Down not done but now that I think it about it , yea I'm done as well!

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    4. only physical and as tom say's I'm loaded so let um play

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  23. Breaking News

    Fitch ratings agency downgrades Greece from B- to CCC, says euro exit would likely result in widespread default - AP, Reuters

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  24. Just something I noticed, back when HL was around $4.15 a few weeks ago I bought the JAN 14 $5 calls for 77 cents. The ask is now 82 cents on those despite the drop. Options pricing has held up VERY well on this. For whatever that means :)

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  25. Thanks hubz...they're holding up the markets very well considering the times of troubles...why is Greece waiting to exit the eurozone.

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  26. More Breaking News: H-P considering laying off 30,000 or 8% of its workforce. This will help things in Calif., oh yeah.

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  27. Oops, meant HPQ, listening to Mr. Veepo out there screaming about "investors" only peeps doing well. Hehehe...

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  28. It's a shame to see what's happened to HP over the last 10 years.

    I'm in the high tech business and we used to do a lot of work for them. First they moved most of their manufacturing to China. This was the same company that had one of the most rigorous "qualification" processes in the industry. Almost overnight, they tossed it in the trash.

    Then they gutted the company of all their top engineers to save even more. Ever since then, it's been one train wreck after the next mostly from the top.

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    1. Sometimes when I see stuff like this I realize life is all cycles and that while it's sad to see now it will also eventually come back around the other way. Eventually these groups will see the errors of their ways or fall to the wayside when somebody new comes along and realizes where they screwed up and fixes it. This applies to our current financial system as well, though we may not be around to see its rebirth and progress haha. Order leads to chaos, chaos leads to order. ;) The problem with us now is we have refused to let the system purge itself, so as Kli says nature will take care of that for us in time, but will likely be much worse than it could have been. It's really too bad.

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  29. This comment has been removed by the author.

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  30. JPM dropped the soap in the shower and everybody knows it and wants a piece of that big phat @$$ as payback. JPM provides some critical backstops for liquidity and confidence, if they get too busy pulling sharks off that @$$ the facebook IPO will not be the only things that falls flat, their pm manipulation will have to take a backseat to staying afloat as the fed and EU implement plans to print more fiat while honoring sovereign bullion deliveries for the time being.

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    Replies
    1. their PM position may be part of this issue also....

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  31. not sure what folks are using for charting silver...but..I want to point out that 27.50 is a failed (thus far) test of a break down of the lower Andrews and one final whoosh to 24 ish would have given 5 good waves...Normally I would sell but this:

    http://www.zerohedge.com/news/guest-post-backwardation-gold-and-silver

    will keep me on board.

    Could be we are staring down the barrel of a long 3 wave so not going to get cute...may not get that whoosh...may be truncated at this point or a second more bullish count is under way... good luck.

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    1. would like a lower buy for more physical so I'm goin for the 24

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    2. on the other hand.....you can only screw mother nature so long before she screws you back so the bottom could be in......they certainly don't want you to load so average in.....but I'm loaded on the miners

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  32. For your info.....and will accept any comments if you have an opinion but the blackout on Yahoo finance on the "major holders" of many of my favorite miners continues.....I believe this is intentional

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  33. http://www.mineweb.com/mineweb/view/mineweb/en/page504?oid=151619&sn=Detail

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  34. well well well......HARD DOWN equity day with Gold and PM stocks ripping......just shows what they can do

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  35. Equities are getting shredded.

    Apple down $80 a share since earnings.

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  36. Ended up taking an initial 1/2 position in FTR. Sorry,... I know it is not a miner.

    FTR pays a nice dividend which is felt to be safe for now & a dividend payment is due in June. So, I will try a chase the dividend play. What I found interesting is that the stock really started running up the end of the day.

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  37. Rudy since we reside in the same swamp, so to speak, check out the following on our Esteemed Senator........ hehehehe!!!!!!!!


    http://www.zerohedge.com/news/simple-question-senator-schumer


    Look Who's Hand is in Who's Cookie Jar!!!!

    "I Love New York" I'm sure you know the tune! LOL

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  38. Schumer is the worst kind of politician.....he will do ANYTHING to get in front of the cameras! A-One scumbag all the way1

    I feel bad for the FaceBook kid, he helps create a giant company, creates tons of jobs, revolutionizes how people communicate with each other and because he tries to save on some taxes, the government is going to single him out to be punish and collect what is theres! Things like this show, something is terribly wrong. We punish people when they help society and are truly successful and we reward liars and cheats when they try to destroy society. All it goes to show is who has power and who doesn't. Guess what.......we got none!

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  39. OSIR booyah! buy it now or be left in dust..

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  40. Sheeps, thanks for that info...Kli posted that article yesterday from goldseek. Goldseek is the first thing I read in the morning as it has been full of good articles lately. It seems everyone has an opinion on gold/silver which tells me that at the very least something's brewing. And no one seems to be buying the Gates/Munger/Buffett take on gold not being a safe haven except cnbs of course. Always good to hear everyone's ideas and I am so grateful that you brought this blog back!

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