saveyourassetsfirst3 |
- Gold Seeker Weekly Wrap-Up: Gold and Silver Fall Over 4% and 26% on the Week
- COT Silver Report - May 6, 2011
- Commodities: China Had a Wild Card
- India Markets Friday Wrap Up: Markets End the Week 3% Lower
- CF Industries Holdings' CEO Discusses Q1 2011 Results - Earnings Call Transcript
- Silver Takes it on the Chin
- Physical Silver Trust Premium Collapses - Pairs Trade Returns 10%
- Gold: Charging Toward Support and a Potential Buying Opportunity
- A Note About the Commodities Crash
- Freefall in Silver, What’s Next?
- Year To Date Performance of a Few Dollar Denominated Assets - Currency Wars
- Morgan Stanley/Goldman Sachs Bond Propaganda
- Silver Rally :] - Bob Moriarty
- Cinqo de Bottomo, Part II
- China Buying Silver Overnight, Prudent Money Holding and Accumulating Bullion on Dip
- The silver bear market is here
- $36...
- An unusual phenomenon that's placing a strong floor under gold
- Invasion of Libya was About Gaddafi's Plan to Introduce Gold Dinar
- Seabridge Gold's giant gold deposit just got bigger
- Silver in a Bounce Mood?
- SIlver on its....
| Gold Seeker Weekly Wrap-Up: Gold and Silver Fall Over 4% and 26% on the Week Posted: 06 May 2011 07:15 AM PDT Gold traded mostly slightly higher in Asia and London before it fell $5.70 to as low as $1475.70 by about 8:30AM EST, but it then rallied back higher in New York and ended near its late morning high of $1498.19 with a gain of 0.7%. Silver fell to $33.17 by a little after 8AM before it also rallied back higher and saw a slight gain at $36.43 by late morning, but it then fell back off in the last couple of hours of trade and ended with a loss of 2.34%. |
| COT Silver Report - May 6, 2011 Posted: 06 May 2011 06:32 AM PDT COT Silver Report - May 6, 2011 |
| Commodities: China Had a Wild Card Posted: 06 May 2011 06:06 AM PDT Glen Bradford submits: Getting Stopped Out All you silver longs can breath a sigh of relief -- for now. I've closed my short position and am looking to figure out which way I'm supposed to go next. The jobs report apparently was significant enough to put in a floor for silver. Personally, I don't think that's what did it. I think it was China's backhanded comments towards the United States about our deficit. Unfortunately, even though I think silver should likely head lower if you simply consider the mania, rationality isn't very important when you have a country that judges the success of its local provinces based on how much concrete they pour that fiscal year. China simply cannot handle a commodity collapse, considering it's been stocking up on them as a store of value as a way to diversify away from the dollar. What would you do if Complete Story » |
| India Markets Friday Wrap Up: Markets End the Week 3% Lower Posted: 06 May 2011 05:46 AM PDT Equitymaster submits: The benchmark indices reversed their losing streak as the Indian stock market finally closed in the green today. The BSE-Sensex gained in the region of 308 points whereas the NSE-Nifty closed higher by around 92 points (up 1.7%). The smaller indices also saw gains, but they came in slightly lower. The BSE Midcap and BSE Small cap indices gained 0.9% and 0.7% respectively. Banking and auto stocks led the rally. Although all the indices closed in the positive today, during the week the BSE Sensex lost around 3%. It was, however, a different story for other Asian indices. Most indices closed the day in the red, with Japan leading the losers. Europe is currently trading mixed. The rupee was seen trading at Rs 44.74 to the dollar at the time of writing. Union Bank of India was one of the top gainers in the markets today despite reporting a flat Complete Story » |
| CF Industries Holdings' CEO Discusses Q1 2011 Results - Earnings Call Transcript Posted: 06 May 2011 05:30 AM PDT CF Industries Holdings (CF) Q1 2011 Earnings Call May 06, 2011 10:00 am ET Executives Richard Hoker - Chief Financial Officer, Principal Accounting Officer, Vice President and Controller W. Will - Vice President of Manufacturing & Distribution Terrell Huch - Senior Director of Investor Relations & Corporate Communications Bert Frost - Vice President of Sales and Market Development Stephen Wilson - Chairman, Chief Executive Officer and President Analysts Horst Hueniken - Stifel, Nicolaus & Co., Inc. Michael Picken - Cleveland Research Company Mark Gulley - Soleil Securities Group, Inc. Vincent Andrews - Morgan Stanley Elaine Yip - Crédit Suisse AG Brent Rystrom - Feltl and Company, Inc. Donald Carson - Susquehanna Financial Group, LLLP Mark Connelly - Credit Agricole Securities (USA) Inc. David Silver - BofA Merrill Lynch Lindsay Mann - Goldman Sachs Group Inc. Edlain Rodriguez - Gleacher & Company, Inc. Tim Tiberio - Chardan Capital Markets, LLC Presentation Complete Story » |
| Posted: 06 May 2011 05:23 AM PDT This week saw the type of downside volatility in the precious metals market that will be remembered for years to come. For those of us who have been long gold, and silver in particular, the memories will not be pleasant. While many had been expecting a pullback in silver, when the violence did come it was nevertheless shocking. |
| Physical Silver Trust Premium Collapses - Pairs Trade Returns 10% Posted: 06 May 2011 05:08 AM PDT Dan Pritch submits: With the various precious metals ETFs out there and the volatility we're seeing in the markets now, there are opportunities to exploit market inefficiencies that appear and disappear rather quickly (see more on arbitrage investments). But investors that are agile can benefit as these scenarios repeat themselves somewhat frequently. In the past, I benefited from a gold pairs trade when I witnessed a runaway premium Complete Story » |
| Gold: Charging Toward Support and a Potential Buying Opportunity Posted: 06 May 2011 05:08 AM PDT Eric Parnell submits: Gold has come under pressure so far in May. After surging 9.0%-plus higher during April, gold has retreated -5.8% in the first few days of the current month, including a sharp -2.9% drop on Thursday alone. In my recent posts The Time to Reallocate from Silver to Gold Draws Near and Silver: After Exiting Positions, Evaluating What's Next, I discussed how gold would represent an attractive option on a pullback to either maintain or build on precious metals exposures. Given the recent price decline, it is worthwhile to more closely assess whether the time will soon be right to make the move into gold. As mentioned in previous posts, gold has behaved well from a technical standpoint since the early days of the financial crisis. As a result, two key support levels are in place that may provide attractive prices to add to gold positions. 1. 150 Day Moving Average Complete Story » |
| A Note About the Commodities Crash Posted: 06 May 2011 05:06 AM PDT Hale Stewart submits: Some of you may have noticed, commodities have crashed in the last week. Oil went from over $114 to about $97 earlier this morning. According to Bespoke Investments, this is the most serious crash since 1980 (when the Hunt Brothers' attempt to corner the silver market imploded). There have been substantial allegations of manipulation made (as in, ETFs that are supposed to hold actual bullion, instead holding vapor). Margin requirements have been raised 4x in 8 days. Complete Story » |
| Freefall in Silver, What’s Next? Posted: 06 May 2011 03:37 AM PDT Summing up, what we have seen recently was probably (slightly more probable than not) a major top for the previous rally. However, regardless of this being true or not, a short-term rally from here appears likely. Naturally, if the final top is not yet in, then the rally will take silver much higher. |
| Year To Date Performance of a Few Dollar Denominated Assets - Currency Wars Posted: 06 May 2011 03:17 AM PDT Jesse's Cafe |
| Morgan Stanley/Goldman Sachs Bond Propaganda Posted: 06 May 2011 02:57 AM PDT What qualifications do you need to be "head of interest rate strategy" at Morgan Stanley? It requires that you must know absolutely nothing about interest rates or economics. Observe incompetence in action. We are being told by this esteemed "expert" (and echoed by the "experts" at Goldman Sachs) that a "slower-than-forecast pace of inflation" and slower economic growth will translate into higher prices for U.S. Treasuries. Let's take these parameters and apply them to the real world. First of all, in the real world inflation is rapidly accelerating, so we can begin with the fact that this is (at least in part) another exercise in fantasy. However, for sake of argument let's assume that this nonsense is actually valid. With banker money-printing and government borrowing running at (by far) their highest rates in history, this is supposed to provide enormous stimulus for all of these economies. In other words, if there was even the tiniest semblance of health in these economies, then after three years of insane money-printing, near-zero interest rates, and record-deficits all of these economies should be 'over-heating'. The fact that with even the most extreme stimulus in history (by a factor of ten), all of these Western economies are reporting either very anemic growth or even sporadic contractions (as occurred in Canada's economy in February) shows that these economies are 'sicker' than they have ever been at any time in modern history (including the Great Depression). This confirms what I've been saying in my own analysis all along: that this extreme money-printing and extreme borrowing must continue to destroy our economies, since it was excessive money-printing and borrowing which created all of these economic problems. To repeat an analogy, just like an alcoholic, our debt-junkie governments continue to pretend that they can "cure" the economic hang-overs caused by too much debt and money-printing with more debt and money-printing. Now we have the "experts" at Morgan Stanley and Goldman Sachs openly confessing that this stimulus is failing (in order to pump the U.S. bond market). What does this mean in economic terms? On the one hand, with the developing economies which are still relatively healthy, "sick" Western (consumer) economies will buy much less of their goods – meaning that the trade surpluses of these nations will shrink or disappear entirely. Indeed, China just reported its first trade deficit a month earlier, and (not coincidentally) has been selling U.S. Treasuries for the last four months. This dynamic is very simple, and very obvious. The only nations with any "surpluses" to buy Western debt will have much smaller surpluses, or no surpluses at all. This means falling demand for U.S. Treasuries and all Western debt. Conversely, with our debt-bloated Western economies already reporting "record deficits" every year, what does the "slowing growth" which Morgan Stanley and Goldman Sachs warn us about mean for Western budgets? Obviously it means even higher deficits, and even more borrowing; translating into rising supply for U.S. Treasuries and all Western debt. Now here is an economics "test" for anyone who has spent even a week in an Economics 101 class: what does it mean when you have either "falling demand" or "rising supply"? It means falling bond prices. Now the "bonus question": what does it mean when you simultaneously have falling demand and rising supply? It means rapidly falling bond prices. |
| Silver Rally :] - Bob Moriarty Posted: 06 May 2011 01:52 AM PDT This is his moment to gloat. I like his comment about if we see a countertrend rally in silver back up to $46/47....look out below. http://www.321gold.com/editorials/mo...rty050611.html Silver Rally Bob Moriarty Archives May 6, 2011 Our newest batch of silver cheerleaders just had their heads handed to them. I'm not surprised; they were selling washing machines at Wal-Mart three months ago and only appointed to "GURU" status lately. They got everything wrong. Thanks to them, the silver bulls have lost over $2 billion in 10 days. So as I said on April 25, 2011, 1. Parabolic charts mark tops and brutal declines. 2. A record high bullish consensus marks tops 3. This time is never different, silver "GURUS" or not For those buying the Sprott Silver trust on April 25, you are down 44% in ten days. Silver is the most dangerous commodity to invest in and if you love the climbs, you will hate the waterfall declines. Silver is the best short in commodities again. For those who think buying silver is an act of patriotism, you are down a mere 30% in a week from the top at $50. Wasn't it Samuel Johnson that said, "Patriotism is the last refuge of a scoundrel?" He got it exactly right. I know of only one valid reason to buy gold or silver and that's to make a profit. But what do I know; I was just the guy warning 6 weeks ago that silver was getting frothy? Of course, if you were buying silver to take down JP Morgan, you had another silly reason to own something. Did you really think you could outspend Jamie Dimon? A good friend of mine, Puru Saxena was mocked by someone having a cartoon made with his name on it showing he had his head up his ass for daring to predict a bloodbath in silver. I guess we all know just who it was that had their heads up their asses. Silver is a commodity. It shares some monetary aspects with gold but like gold, it is not money for now. Maybe it will be someday. But when all the cheerleader idiots out there try to turn it into some kind of weird cult or religion like the Nasdaq in March of 2000 or Real Estate in 2006, you know it's time for money to move from weak hands into strong hands. When the bozos writing about silver start talking about how silver is moving into strong hands at $50, you know it has to be a full moon and either the world has lost its mind or they have. If buying silver at $50 is the act of strong hands, doesn't that make buying silver at $4 the act of weak hands. Sorry guys but you have life in a blender. The market got so stupid that people were paying Eric Sprott $60.50 an ounce for paper silver on April 25th and he was busy selling his paper silver and buying physical silver. Now he has a loss on both. I suppose him selling silver makes him a "Traitor" as well because we are no longer able to express an opinion about silver without the thought police slandering us. When the village idiot starts touting anything, dump it. As of 5 May 2011, the premium on the Sprott Silver Trust is down to a more reasonable 11%. But the premium on the CEF Metals fund is an absurd negative 8.5%. We are due for a rally. I wonder if I can predict a rally with being abused by the gang of fools. (Click on image to enlarge) This latest foolishness by people who know nothing about investing or commodities has already cost investors billions of dollars as I have been predicting for years. Silver is so dangerous to invest in that the silver bulls get creamed again and again. But if we see a rally up to $46-$47 which would be very typical of a countertrend rally, look out below. That's when you will see a real silver crash. |
| Posted: 06 May 2011 01:52 AM PDT OK, you can begin to see now how this is going to work. The final capitulation appears to have come this morning before the BLSBS report. We have since rallied over $3 in silver and are about to turn positive, taking back all of the losses since noon yesterday.  In a traditional bottom, silver would then trade back DOWN toward $35 later next week. At that point we'd have the makings of a solid double bottom. THAT WILL OUR YOUR ENTRY POINT. If you're not currently long, I would advise you against buying this rally. With a potential short-term upside of $3 vs a downside of $2, its just not a tradable proposition. IF, however, the next week or so plays our as I've described above, the risk:reward will swing dramatically in our favor and we can act decisively then. More later. TF  |
| China Buying Silver Overnight, Prudent Money Holding and Accumulating Bullion on Dip Posted: 06 May 2011 01:43 AM PDT gold.ie |
| The silver bear market is here Posted: 06 May 2011 01:28 AM PDT From Bespoke Investment Group: That didn't take long. After nearly doubling from $27 to $49.82 in just three months, silver is down 24% over the last four days, officially putting it in bear market (-20%+) territory. As shown below, silver has finally broken... Read full article (with chart)... More on silver: Where the massacre in silver could end Report: Resource guru Sprott is dumping silver shares When the parabolic move in silver is done, this is how far it could fall |
| Posted: 06 May 2011 01:27 AM PDT :banana::banana: Hey, it's deja vu all over again. :biggrin: Up from bargain basement $33 overnight. |
| An unusual phenomenon that's placing a strong floor under gold Posted: 06 May 2011 01:23 AM PDT From Jeff Clark, editor of Casey's BIG GOLD: When it comes to supply and demand, what you've been told about gold jewelry is wrong. That's a strong statement, but I've got a firsthand account to back it up. Most industry organizations separate jewelry from investment when they tally the numbers on the uses for gold. This makes sense, of course, because one is a coin or bar purchased as a store of value and the other is something designed to be worn. But what if large populations around the world view them as serving the same purpose? My friend Jayant Bhandari, who's worked for Casey Research in the past and is now a consultant to an institutional investor, has told me for years that excluding gold jewelry from investment demand is inaccurate because there are many... Read full article... More on gold: This weekend's gold news could change everything Porter Stansberry: What every American needs to know about gold Top speculator Paulson is not selling gold... Calls for $4,000 an ounce |
| Invasion of Libya was About Gaddafi's Plan to Introduce Gold Dinar Posted: 06 May 2011 01:22 AM PDT Under the guise of "protecting civilians," the United States led NATO into Libya and is attempting to assassinate the Libyan leader. Of course, Libya happens to be the largest oil producer in Africa, but many do not realize that Gaddafi was planning to introduce the gold dinar, a single African currency that would serve [...] |
| Seabridge Gold's giant gold deposit just got bigger Posted: 06 May 2011 01:15 AM PDT From Mineweb: In an updated prefeasibility study of its proposed KSM mega-mine, Seabridge Gold (TSX: SEA) makes major additions to the cost, size, and operating plan of its flagship project in northwestern B.C. Already one of the largest undeveloped copper-gold porphyry projects in the world, perhaps the most significant changes are reserves increasing by 8.5 million ounces gold and 3 billion pounds copper, much of which came from the newly defined Iron Cap zone. At KSM Seabridge now holds proven and probable reserves of... Read full article... More on gold stocks: If you own gold or silver stocks, this analysis could surprise you Casey Research reveals the top takeover targets in the junior mining sector What Barrick Gold's huge copper purchase means for commodities and inflation |
| Posted: 06 May 2011 12:58 AM PDT From the silver bearish camp: "Even a dead cat will bounce if thrown down hard enough." From the silver bullish camp: "The fundamentals for silver have not changed." Both are true and are likely in agreement for this Friday. Beaten up silver is very highly likely to bounce and bounce hard when it does.
The bull/bear battle continues. Meanwhile, the COMEX open interest for silver has gone nowhere, still hovering near 130,000 contracts. Silver on the Cash Market is trading well under the near-active July contract and the bedlam of the past several trading days has caused a massive shift in trader confidence. Bulls have become meek from bold, bears the opposite. It all seems a bit far and a bit too fast, doesn't it? May has indeed arrived on schedule and it brought with it a vicious selloff in all commodities, blowing off the froth. What it really hasn't done is change any of the underlying fundamentals that sent gold and silver skyward to begin with. What it hasn't done is create a huge new pile of available silver metal to answer the huge and growing demand for it. Now we can see if underneath that froth is a good stout ale, or just a namby pamby watered down lite beer instead. If we had to guess, right now we'd say it looks like ale, but, as always, we shall let our trading stops be the judge. We take a flyer in the silver ETF market this morning in the premarket, albeit with a razor-thin work-or-else stop. We are planning a Got Gold Report update for this weekend, to be delivered to Vultures (Got Gold Report Subscribers) by late Sunday afternoon, early Monday at the latest. That is all for now, but there is more to come. |
| Posted: 06 May 2011 12:34 AM PDT "toughest week since 1975" "CME stepped in so prices would not keep going up" Apparently BNN has a 2.5 hour segment on Silver this morning. I guess the 4 minutes a week on its way up to $50 is the bull equivalent. Looks like $33 was the money shot...look in the comments below for my trade by trade |
| You are subscribed to email updates from Gold World News Flash 2 To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google Inc., 20 West Kinzie, Chicago IL USA 60610 | |
No comments:
Post a Comment