59 replies to this topic

[JGUITARSLIM]

Update on weekly Gold cycle that typically runs 20 to 25 wks trough to trough.
I was thinking it bottomed last week when Au took out 1409, but that was a fakeout.
We are completing week 23. Within timing band for bottom over next 2 weeks.

[JGUITARSLIM]

Decided to put my trading hat on during this decline
Bollinger band trade here on GDXJ...scaling in.

[beta]

Update on weekly Gold cycle that typically runs 20 to 25 wks trough to trough.
I was thinking it bottomed last week when Au took out 1409, but that was a fakeout.
We are completing week 23. Within timing band for bottom over next 2 weeks.

Very interesting work, JGS. Are you looking for a low of 1160 in your 2-week timeframe ?

[JGUITARSLIM]

Update on weekly Gold cycle that typically runs 20 to 25 wks trough to trough.
I was thinking it bottomed last week when Au took out 1409, but that was a fakeout.
We are completing week 23. Within timing band for bottom over next 2 weeks.

Very interesting work, JGS. Are you looking for a low of 1160 in your 2-week timeframe ?

No price targets indicated in chart, only meant to show timeframe.

[bbones]

[/quote] bbones: I'll give your questions a shot - (questions and learning are part of all of our lives and if you don't ask ... well you know the answer to that) For me it's a matter of weighting and of course the time-frame you are trading in - a 'dip" below or above a trendline or key price level carries less weight than a daily close below or above, which carries less weight than a weekly close below or above, which carries less weight than a monthly close below or above. Market manipulation is part of the "game" - anticipating when and where it will occur is about a 50/50 proposition, but "you know it when you see it" GoodLuck, stubaby [/quote] Thanks for the input folks. Been in the markets since 2002...had some good yrs. and some my wife keeps reminding me about Trade more from a fundamental/value perspective but increasingly fascinated by the technical side.....especially the astrological aspect.......which honestly my logical side has a hard time accepting. Yet.....as mentioned, I've been lurking for a while following the comments of dharma, stubaby, silentone, coinguy and a smattering of others.....collected tidbits of wisdom here and there and amazed at how often the astrological aspect is utilized. Time to take the blinders off. Anyway, I appreciate your comments. Currently just toying with some basic charting techniques more on specific companies.....but am more interested in a more global or sector aspect. I'm yrs away from being comfortable with it......but just keep plodding along. If you get that feeling someone is peaking over your shoulder.........it's just me Happy New Years bbones

[dharma]

Harvery Organ's commentary: "And now for the big silver report. We witnessed a massive withdrawal of silver unprecedented in the history of the comex. First there was a smallish 6507 oz of silver deposited to two customers, one being 497 oz and the other 6010 oz). But just look at the huge withdrawals: Four customers (not dealers) withdrew a total of 1,019,310 oz from the comex vaults. This is real silver leaving from 4 registered vaults. The individual withdrawals are: 579,081, 30,380, 399,994 and 9855 oz. The dealer (our bankers) also were involved in the withdrawal of silver to the tune of 769,941 oz (there were 2 dealers involved removing 102,866 and 667,875 ozs). When you see this massive drain of silver, the fire is raging. The total silver withdrawal by both dealer and customer totalled an astronomical 1,789,251. The Brink's trucks must have been very busy yesterday. The comex folk notified us that an amazing 85 notices were sent down for servicing for a total of 425,000 oz of silver. The total number of silver notices sent down so far total 323 or 1,615,000 oz. To obtain what is left to be served, I take the open interest for January at 153 and subtract 85 deliveries leaving a total of 68 notices or 340,000 oz left to be serviced. Thus the total number of silver ounces standing in this non delivery month of January is as follows: 1,615,000 oz + 340,000 = 1,955,000 oz (Thursday total = 1,625,000). As promised to you, this number is rising and will continue to rise until the end of the month as our banker cartel scrambles to get any morsel of silver to satisfy the massive demand for this metal. Our bankers are stunned to see such a huge amount of silver options in a traditionally slow month. I hope everyone caught the Eric Sprott story on Kingworld news that he is having trouble locating silver." dharma

[dougie]

the same bankster parties will be happy to yell fire in a crowded theatre Dharma and steal everyones gold

[comino]

the same bankster parties will be happy to yell fire in a crowded theater Dharma and steal everyone's gold

I suspect that Mr. Sprott is speaking his own book when he suggests he cant find any silver, that being the case he isnt offering a high enough price for it.

A "shortage" or something, in this case silver, implies a break from a plentiful relationship that once existed. What has happened in the past few months that suddenly people are unable to purchase silver? What has changed is that the price has risen, though currently it has stalled on a ST basis.

What qualifies as a "shortage"? My coin dealer has no shortage of silver coins and bars, as do the Bank of Nova Scotia and their famous silver certificates. There's no shortage of stock to buy any number of silver miners, or SLV contracts.

Being a canadian commodity investor I supposed I should be enamored of Mr. Sprott, but looking at his own firms stock price I think differently. He has suggested he's having trouble finding silver, he offers no proof, these stories of draw-downs against the COMEX have been raging for years, nothing ever comes of them, and each time they are trumpeted with calls that "this time its for real, a failure is just around the corner". my own belief is this is charlatanry, plain and simple. these stories come out when the price is going sideways or down. Long Term of course I agree its up but currently no, these stories getting passed around are my bear flag ST.

good luck.

[johngeorge]

the same bankster parties will be happy to yell fire in a crowded theater Dharma and steal everyone's gold

I suspect that Mr. Sprott is speaking his own book when he suggests he cant find any silver, that being the case he isnt offering a high enough price for it.

A "shortage" or something, in this case silver, implies a break from a plentiful relationship that once existed. What has happened in the past few months that suddenly people are unable to purchase silver? What has changed is that the price has risen, though currently it has stalled on a ST basis.

What qualifies as a "shortage"? My coin dealer has no shortage of silver coins and bars, as do the Bank of Nova Scotia and their famous silver certificates. There's no shortage of stock to buy any number of silver miners, or SLV contracts.

Being a canadian commodity investor I supposed I should be enamored of Mr. Sprott, but looking at his own firms stock price I think differently. He has suggested he's having trouble finding silver, he offers no proof, these stories of draw-downs against the COMEX have been raging for years, nothing ever comes of them, and each time they are trumpeted with calls that "this time its for real, a failure is just around the corner". my own belief is this is charlatanry, plain and simple. these stories come out when the price is going sideways or down. Long Term of course I agree its up but currently no, these stories getting passed around are my bear flag ST.

good luck.

Jeff

From the US Mint

American Eagle Silver Uncirculated Coin

"Production of United States Mint American Eagle Silver Uncirculated Coins continues to be temporarily suspended because of unprecedented demand for American Eagle Silver Bullion Coins. Until recently, all available silver bullion blanks were being allocated to the American Eagle Silver Bullion Coin Program, as the United States Mint is required by Public Law 99-61 to produce these coins “in quantities sufficient to meet public demand . . . .”

Although the demand for precious metal coins remains high, the increase in supply of planchets—coupled with a lower demand for bullion orders in August and September—allowed the United States Mint to meet public demand and shift some capacity to produce numismatic versions of the American Eagle One Ounce Silver Proof Coin.

However, because of the continued demand for American Eagle Silver Bullion Coins, 2010-dated American Eagle Silver Uncirculated Coins will not be produced.

The United States Mint will resume production of American Eagle Silver Uncirculated Coins once sufficient inventories of silver bullion blanks can be acquired to meet market demand for all three American Eagle Silver Coin products."

[dharma]

comino-welcome and thanks. sprott is saying that he bought the silver months ago, and all of it still has arrived there is a difference between forecasting and taking action. i have never read, seen, or heard of anyone making a fortune playing a bull counter trend. gold is down 70ish dollars from the highs, i wonder if anyone is accumulating or if all are watching. i am picking off issues when they get beat up. sure they can be underwater for a period. , but the tide will lift these boats also. in bull markets 75% of the stocks rise. this leg of the decline looks finished to me , it may be the whole decline or just the 1st leg, i dont know. but weakness is a buying opportunity . its the drill in a bull market john embry came out and recommended wesdome, i have some too. thanks john my guess is very very few understand the nature of bull/bear markets. trading is very ingrained dharma