...And that would be bears as in cartoon bears, who are now back for the 6th installment of their periodic, and very much unique and extemely politically incorrect and PG-18 recap of key developments in the silver market. Love them or hate them, they do provide an interesting thought experiment on what happens if silver does finally experience the long-expected technical drop.
http://www.zerohedge.com/article/silver-bears-are-back
- Zero Hedge
Tuesday, 3 May 2011
Silver Weak Hands being Flushed Out
The onslaught of silver continues, with silver now at $41.70. Weak hands have contributed to the mad rush in silver as of late, causing silver to go into a temporary parabolic top. This is not the long term top, of course, but is most certainly a top for the short term. Expect silver to fall to roughly the $33 - $38 dollar range. Once in that range, silver should begin to consolidate and trade in a trading range for a short time, between our most recent high, and the established low.
I would expect Gold, as I stated last week to take the spotlight for the time being. Silver and Gold take turns in the spotlight. Strong hands hold steady, if you are not a day trading, go to sleep and in a couple of months look at your portfolio, it will be fine. Remember, never get shaken out of your core position.
The following is from Ben Davies, of Hinde Capital:
"We believe that the market has been exhibiting the precursory signatures of power law behaviour, and that the internet power law of participation phenomena has produced a point of criticality whereby we have seen the top in silver for this half of the year. We believe a real shake out is imminent, in the order of $15 dollars over 3 to 5 days."
This was stated a couple of days ago, and sure enough it seems to be playing out. Get your dry powder ready for when silver hits its target range, use this as a opportunity to convert paper silver to physical silver.
Read the full Ben Davies report at King World News, here:
I would expect Gold, as I stated last week to take the spotlight for the time being. Silver and Gold take turns in the spotlight. Strong hands hold steady, if you are not a day trading, go to sleep and in a couple of months look at your portfolio, it will be fine. Remember, never get shaken out of your core position.
The following is from Ben Davies, of Hinde Capital:
"We believe that the market has been exhibiting the precursory signatures of power law behaviour, and that the internet power law of participation phenomena has produced a point of criticality whereby we have seen the top in silver for this half of the year. We believe a real shake out is imminent, in the order of $15 dollars over 3 to 5 days."
This was stated a couple of days ago, and sure enough it seems to be playing out. Get your dry powder ready for when silver hits its target range, use this as a opportunity to convert paper silver to physical silver.
Read the full Ben Davies report at King World News, here:
Keiser Report: Meets Schiff Report 3.0 (E143)
This week Max Keiser and co-host, Stacy Herbert, report on the $5 trillion in financial weapons for bankers and the lobbying bubble that keep those weapons flowing. In the second half of the show, Max talks to Peter Schiff about the 'symbiotic' master-slave relationship between the U.S. and China.
Monday, 2 May 2011
So Much For The Sprott Silver Scare: "Every Dollar From PSLV Sales Was Reinvested In Silver Equities"
Earlier we reported that Sprott had sold $35 million worth of PSLV, which caused many to panic that the precious metals guru had indicated the market top in the market. Well, as it turns out and as he just told the Globe and Mail “We haven’t lost our enthusiasm for silver.” Quite the opposite...
Read the full story here:
http://www.zerohedge.com/article/so-much-sprott-silver-scare-every-dollar-pslv-sales-was-reinvested-silver-equities
- Zero Hedge
Read the full story here:
http://www.zerohedge.com/article/so-much-sprott-silver-scare-every-dollar-pslv-sales-was-reinvested-silver-equities
- Zero Hedge
Eric Sprott defends selling his silver units
After a post this morning highlighted that Eric Sprott has sold about $34-million worth of units in his Sprott Physical Silver Trust (PHS.U-T19.48-2.17-10.02%), he wants to make it absolutely clear that he isn’t turning his back on the metal.
“We haven’t lost our enthusiasm for silver,” he told me Monday afternoon.
Read the full story at the Globe and Mail:
http://www.theglobeandmail.com/globe-investor/investment-ideas/streetwise/eric-sprott-defends-selling-his-silver-units/article2007195/
“We haven’t lost our enthusiasm for silver,” he told me Monday afternoon.
Read the full story at the Globe and Mail:
http://www.theglobeandmail.com/globe-investor/investment-ideas/streetwise/eric-sprott-defends-selling-his-silver-units/article2007195/
And Scene: CME Hikes Silver Margin For Third Time In 7 Days, Raises Initial, Maintenance Margins By 12%
Last week two hikes of 9% and 10% did nothing, which is why this week's first hike (of many more) by 12% to the maintenance and initial margins was to be completely expected. We believe that nothing short of 100% margin (coupled with not one single ES margin hike by the Globex) will eventually placate the ardent Comex risk managers who are terrified their models may end up being wrong about "stuff." One thing is certain: the panic is palpable and the administration will stop at nothing to prevent the $50 limit order from triggering silver's surge to triple digits. We wish them all the best in this endeavor and are grateful for all BTFD opportunity.
Read the full story here:
http://www.zerohedge.com/article/and-scene-cme-hikes-silver-margin-third-time-7-days-raises-initial-maintenance-margins-12
Read the full story here:
http://www.zerohedge.com/article/and-scene-cme-hikes-silver-margin-third-time-7-days-raises-initial-maintenance-margins-12
Eric Sprott Sells Silver Trust - Locking in the NAV Premium?
Looks as if Eric is up to his old tricks again. If this is any indication of last time, we can expect a new issue of Sprott Physical Silver Trust Shares soon. The NAV Premium was roughly in the 16-19% range when he locked in his profits. This is a huge gain, and is similar to what he did to the Gold Physical Trust.
Expect an announcement soon. Of course this hurts some in the short term. But ultimately it is much better for the Silver Bull market in the long run. As much more Physical Silver will be taken off the market, thus driving up the price of both the physical and the shares.
Keep your eye on the long term, as I said Volatility is only going to get more intense from here on out.
Expect an announcement soon. Of course this hurts some in the short term. But ultimately it is much better for the Silver Bull market in the long run. As much more Physical Silver will be taken off the market, thus driving up the price of both the physical and the shares.
Keep your eye on the long term, as I said Volatility is only going to get more intense from here on out.
Eric Sprott sells his Silver Trust units
Eric Sprott and Sprott hedge funds have sold trust units in Sprott's Physical Silver Trust (PHS.U-T19.95-1.70-7.85%). The trades were made in the last two weeks of April when the price of silver (SI-FT45.27-3.32-6.84%) peaked.
The trades were reported in a document published by the Securities and Exchange Commission. In total, 1.6 million trust units were sold at an average price of about $21, making the proceeds worth about $34-million. The selling unitholders were Sprott Hedge Fund L.P., Sprott Hedge Fund L.P. II, Sprott Asset Management L.P. and Eric Sprott.
The shares were purchased in the trust’s IPO for $10 each.
Sprott announced plans to launch the Sprott Silver Physical Trust in July of 2010 and the initial public offering closed in the fall with very strong demand. The total deal size was $450-million (U.S.). Eric Sprott is trust’s primary portfolio manager.
It’s unclear at this time why Sprott has sold the shares. A request for an explanation has been put in with Sprott.
Regardless of the reasoning, the timing looks quite prescient, considering that the price of silver has come off in the past few days.
Hat tip to kid dynamite on StockTwits for catching the SEC document.
- Article Via Globe and Mail
The trades were reported in a document published by the Securities and Exchange Commission. In total, 1.6 million trust units were sold at an average price of about $21, making the proceeds worth about $34-million. The selling unitholders were Sprott Hedge Fund L.P., Sprott Hedge Fund L.P. II, Sprott Asset Management L.P. and Eric Sprott.
The shares were purchased in the trust’s IPO for $10 each.
Sprott announced plans to launch the Sprott Silver Physical Trust in July of 2010 and the initial public offering closed in the fall with very strong demand. The total deal size was $450-million (U.S.). Eric Sprott is trust’s primary portfolio manager.
It’s unclear at this time why Sprott has sold the shares. A request for an explanation has been put in with Sprott.
Regardless of the reasoning, the timing looks quite prescient, considering that the price of silver has come off in the past few days.
Hat tip to kid dynamite on StockTwits for catching the SEC document.
- Article Via Globe and Mail
Osama Dead, Sell All Your Gold! Wait I said Sell, not "BUY MORE"
Well it seems as if the news of Bin Ladens death isn't going as the US Government planned. This news was supposed to rally the USD, showing how strong the US still is. This news was supposed to therefore crush the commodities rally.
Well as you can see below, that lasted for all of 12 hours. Silver has almost regained all of its lost ground, and is on track to close positive. Gold is on a massive tear, up $17.60 at the moment!
Well as you can see below, that lasted for all of 12 hours. Silver has almost regained all of its lost ground, and is on track to close positive. Gold is on a massive tear, up $17.60 at the moment!
I guess gold and silver just have a short memory span. That or as I stated, OSAMA's DEATH HAS NOTHING TO DO WITH THE CURRENT WORLD ECONOMIC WOES! The market is not stupid and knows this.
P.S: See if you can find the hidden message in the title, if you can't you should go to your closet and hide in shame.
Silver Regains Ground, Retraces 2/3rds of its Recent Beat Down.
Well, as stated in my post last evening, when we were watching the sad attempt of Obama to rally the USD by announcing "we got Osama!". Silver is quickly regaining ground, and has recovered more than 2/3rds of its recent beat down.
And yes the USD rally that we seen based on this news last night, is also quickly fading. This is all occurring because people are realizing, "what does this news have to do with anything that is currently happening". The answer is obviously nothing. Osama was George Bushes side show.
Looks like Obama is trying to take a page out of the old Georgy boys text book. I guess it's monkey see, monkey do, all over again.
And yes the USD rally that we seen based on this news last night, is also quickly fading. This is all occurring because people are realizing, "what does this news have to do with anything that is currently happening". The answer is obviously nothing. Osama was George Bushes side show.
Looks like Obama is trying to take a page out of the old Georgy boys text book. I guess it's monkey see, monkey do, all over again.
Sunday, 1 May 2011
Is the Obama / Osama Dollar Rally Over?
"I never thought I’d see the day a sitting U.S. president tries to manipulate the market in such an obvious manner using nonsense and bullshit on TV, but wonders never cease. Obama has become a penny stock scam artist. Is the US dollar rally over? Did Obama just blow his wad for a few upticks in a measly ‘pump and dump’ scheme? Man oh man, BTFD."
Read more here:
http://maxkeiser.com/2011/05/02/is-the-obamaosama-dollar-rally-over/
- Max Keiser
Read more here:
http://maxkeiser.com/2011/05/02/is-the-obamaosama-dollar-rally-over/
- Max Keiser
Al-Qaeda leader Bin Laden 'dead'
What is this? There must be something big coming very soon, that needs a major distraction. That or Obama is trying to rally some sort of support, as he basically has none at the moment.
We all know he has been dead for years now, so they are up to something. Something smells fishy here.
Source:
http://www.bbc.co.uk/news/world-us-canada-13256676
We all know he has been dead for years now, so they are up to something. Something smells fishy here.
Source:
http://www.bbc.co.uk/news/world-us-canada-13256676
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