Thursday, October 4, 2012

MORE GAS

California gas prices yesterday
No, not the gas coming out of the candidates pipes last night, but the prices of gas at the pump in Cali......its blowing up and sooner than later the lines and rationing will follow. My guess is the PTB scramble to fill the gap here, but in this environment it could blow up anytime into a major crisis. Of course guess what happens in crisis......the country rallies around the incumbent. It may not make sense to you in this particular type of crisis since your natural inclination may be to blame the incumbent for the policies CAUSING the crisis. Whether that may be true or not it will not matter......there are a number of ways to turn ANY crisis into a plus for incumbency when the PTB wish it so.

Besides you must understand the current condition and it is no accident that Ben and his Euro counterparts are the focus of attention in all of the crisis eventually. NOT the presidents and prime ministers in the countries that SHOULD be standing in front and center. You only need to watch and listen.....its obvious.

We are in a money printing blitzkrieg right now in an effort to prop up a worldwide collapse. It doesn't feel like it perhaps but just remember some of the definitions of depression vs recession that you have heard. Its called a recession if your neighbor loses his job......but its called a depression if YOU lose your job. People need to recognize the last wave of unemployed did NOT get jobs or if they were the lucky few that did most find the jobs were way below what they may have had before. This next wave of unemployed will find even less opportunity awaiting them down the road.......please understand this is NOT a cyclical unemployment situation like the last 70 years have had. This is a STRUCTURAL collapse and it is under the storm clouds of a WORLD debt bubble that is massive and will crush any chance of a rebound. I cannot stress just how serious this will become. DO NOT VIEW THIS myopically. It will crush you if you don't respect the danger it poses. Let's all see each other intact on the other side. We will get through it.

Now back to our regularly scheduled program......gold and silver and making money in the grand casino. Here is what top Citi analyst Fitzpatrick had to say, along with some powerful charts:  “The gold market is flirting once again with the critical $1,791 level today.  Breaking through this level will be crucial in terms of establishing the momentum for the next leg higher.  If gold can get a weekly close above that level, it really completes this pattern.  This will then open up the target for gold at $2,060.  It could come this year or perhaps in Q1 of next year.

But we believe that in Q1 of next year we could see gold as high as $2,450 to $2,500.  Gold has pushed on this critical $1,791 level for two weeks in a row, and we closed both of those weeks essentially where we opened.  So this is the third week in a row that gold has been assaulting that critical level.Enjoy the game.....expect trickery but hang on to your shares of miners ......this ride is goin' up. Golden cross on the HUI......gl all



26 comments:

  1. 7.8% Unemployment..... heheeeeeee.

    Can you say Bull Chit? Sure I knew you could!


    What a farce!

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  2. Exactly my thought this am, Tom...what the heck is with ppp...+41% after being up even more. And with gold down!

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  3. http://market-ticker.org/akcs-www?post=212379

    Theres a little more detail on the UE.......

    What a joke I guess there really is that many dumb asses in our Country!

    No PPP in my basket! Went GPL instead...... bwaaaaaaa!!!!!

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  4. thanks everyone for touting PPP. I was lucky enough to have some. without tis blog I most likely would have dumped my miners months ago. thanks to kli and all the people that post.

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  5. Tom,
    I'm in the same camp as you. I have been adding to my SVM position instead of buying some PPP.

    I'll ditto your bwaaaaaaa!!!!!

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  6. dont worry about the SVM and GPL........o

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  7. No worries here but it sure would do wonders for the mental well being to have a shooting star in the basket!

    Hehehehehe

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  8. Reuters) - Shares of Primero Mining Corp (P.TO) rose more than 41 percent shortly after the market open on Friday after the junior gold miner said it had received a positive ruling from Mexican tax authorities on how it reports silver revenues.

    The ruling confirms that Primero can record silver revenue and taxes from its San Dimas gold mine in Durango state at the realized silver price rather than the spot price.

    It is an important distinction, as Primero has a stream deal whereby it sells silver by-product produced at the mine to Silver Wheaton Corp (SLW.TO) for just over $4 per ounce. That is well below the current spot price of $34.89 per ounce.

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  9. Wow... PPP. Had that at $2.50 and sold at $3.00 doh! Can't believe this capping on Silver at $35, unreal.

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  10. Chris Hedges on the elections
    http://m.youtube.com/index?&desktop_uri=%2F#/watch?v=omiKV_6WnFg

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  11. Sheep's

    This has gotta SUCK! I feel for ya........

    http://touch.latimes.com/#story/la-fi-gas-prices-20121005/

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  12. looks like they want to grind this trade today.......that's good for the short term

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    1. other than PPP that is....hehheheheehe.

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  13. DCTH is moving...get some action with stop below old trend line of 1.93....

    big fda decision on 16th...playing the runup...

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  14. Prolly should have taken some off the table, but didn't since I suck at buying back cheaper shares. Thanks so much Kli, this has been my biggest winner EVER. I think we bust through $1800 and $35 soon...notice how they don't want the weekly to close at these numbers.

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  15. well that made PPP an official three bagger from its low three months ago.......i mentioned this summer that there would be many of these miners that will be 3-10-20 baggers......just hope you hang on or can trade them to those levels......hehhehehe......i know i probably won't but i can always hope

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  16. Gold testing 1775 again. They attack that level, but it won't break.

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    Replies
    1. this is all technical probing to pick up cheap shares......and control the ascent of price.....otherwise you will have a futures crisis....and that just aint gonna be allowed.......at least not yet......remember my advice ........you will wake up one morning and say "holy shit"

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  17. Happy Friday all!

    Another screwy day in the casino. Metals take down yawn. PPP wow! GPL stuck in the mud.

    Tom, I will be having a staycation this weekend due to the high price of gasoline. I barely drive anyway. In my big truck that gets 12 mi to the gallon I can't get to far. My little car does good. Just can't move 500 water melons in a Jetta..

    Have a good weekend all!

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  18. Thanks Kli. I just bought some PZG and HL I like my basket of miners now and will try and hold. I have found that knowing when to sell is harder than buying for me. I spend a lot of time looking at charts for when to buy, but haven't done my homework on when to sell. I sold my KGC a little to early, still made a nice % gain, but could have been better. I am repositioned and like where I sit. I'm better off not watching and checking back in a few months (of course that won't happen!!).

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  19. well.....as expected gold held in the "handle" range.......

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  20. i would be very comfortable if gold retests 1740 over the next week

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    Replies
    1. In fact........I'd like to see them push it and break below 1700.....hehhehehe......I would buy another physical purchase

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