Midnight to 6am - Overnight Spot Watchers Spot...


Happy "Australia Day" Crew,

Dr Gloom back with you for some more cold water therapy...

(First of all, I'm sorry for my recent absence. My wooden leg slipped on some spilled coconut oil yesterday and I fell into a lifeboat. It took me a long time to convince the sailors to put me back on board my own ship...)


Well, the February futures contract options expiry for Gold and Silver occurs tonight (Jan 26) in the U.S. - and we all know what that means!

There still seems to be a big set up going on in silver at the moment. We had a modest takedown effort on Tuesday night, then a fairly flat Wednesday, and early this morning we saw one dollar rise in silver on the (hardly surprising!) news of perpetually low interest rates from yesterday's FOMC meeting.

Now, that sudden rise last night is a red flag to a silver bull because silver is ALWAYS HAMMERED when truly bullish FED news like that is being released. I can only conclude that we are still in the middle of a managed rise, with a particularly nasty take-down effort waiting in the wings. With 20,000 silver contracts still to be covered, JPM are probably allowing this rise to draw in some fresh meat, I mean - technical longs, for their speculative short-covering program.

(Another 'warning sign' is the fact that silver has been 'leading' the way up in recent days, rather than following gold's moves. That's a sudden break with the traditional "Rules of Silver Manipulation".)

Of course, against this short term caution, we do have the good news that gold has now broken very decisively above its shrinking channel of moving averages one more green tick on the charts!

This is very bullish for the medium term for both metals. The next resistance levels for silver are around $34-35, so it's possible JPM might allow silver to rise up to that region, before giving themselves a 'free ride' down on the 'resistance bounce' - perhaps with a margin increase or two thrown in for good measure! (You might have not really noticed the $32 resistance level we blew through it like it wasn't even there!)

It will be interesting to see how the current week ends.

Nevertheless, we are making good headway now, and JPM are clearly playing a losing hand. The recent silver rises have done very little to dampen ANY of the bullish fundamentals; it would exhaust me to even try to list them all right now.

When the silver price goes vertically upward overnight - as it certainly will one day - I do hope no-one here will say "I wish I'd bought more"

The next little dip might be your last change to get in at this very attractive level...

910_obama.jpg

Source : Casey Research


SPOT : USD $33.50
 
ar dere ya bee Captain Turk, i bin fillin ya sox up wile ya bin owt an abowt. wen wee gowin home norf Captain. ouw men wanna cum home. Argentlust bin fihtin dat rowge scowndril morgin soo long, i forgit wat he look lik. Croc roc iz gwoin bigg an polly gunna git cruzhed in yere bed wen ya knot dere dey fiht ova sleepin in itt. i cant lett polly inn da nuw stateroom coz shhe poopz eddi ware


$31.25
 
Maggie, Here's the crabs wot Sou'Cross an meself cort on da weekend. Da croo might enjoy a few wid der limeanakokunut fer an Orstaylia day supper :)

We almos' fergot to check the crab pots as the sun were shinin and the Rum were plennifull! :D

2410_mudcrab1.jpg



Cap'n Turk, I wuldn't be too wurried about the fallin in da lifebowt thing - seems to be a bit o' that goin around lately :)
 
OOoo ya bin bizzy little black peep. i git zum barra an mee vodka. wee gunna had ar pardie. Southern X git da muzic, itt bee lik da ol dayz. git da cruw
ar norf wee will go, yo, ho
 
Yar har haaargh, and away we go this myty fyn strayla day me welcoming' croo! Maggie I cannay speak for yon old times board this fine vessel but I can fir today - tried lowerein the mainsail c'pn Turk but she won't budge with the full gale in her belly, nord it be who am I to tame it!

(raises rum high) Silv'aaargh'tronic
 
BlackSheep said:
Maggie, Here's the crabs wot Sou'Cross an meself cort on da weekend. Da croo might enjoy a few wid der limeanakokunut fer an Orstaylia day supper :)

We almos' fergot to check the crab pots as the sun were shinin and the Rum were plennifull! :D

http://forums.silverstackers.com/uploads/2410_mudcrab1.jpg


Cap'n Turk, I wuldn't be too wurried about the fallin in da lifebowt thing - seems to be a bit o' that goin around lately :)
Click to expand...


Arrg da bes part a dat be da lak o cats :) cept fur dis

Chilli+mud+crab+016.JPG

Source: Cocconut chilli wodka mudcrab :)

[youtube]http://www.youtube.com/watch?v=jD3SkTyXzcE[/youtube]
 
33.59...Dem crabs dey muve sideweys..not like de silva^^^^^...Ah but dem krabs,thay taste betta.

Ah krab sandwitches up in de krosssnest dis weak..

Hard to beleave that we are luken to berg 34..

AK ER 43
 
errol43 said:
33.59...Dem crabs dey muve sideweys..not like de silva^^^^^...Ah but dem krabs,thay taste betta.

Ah krab sandwitches up in de krosssnest dis weak..

Hard to beleave that we are luken to berg 34..

AK ER 43
Click to expand...

Arrggghh I much prefer the lobster and caviar sandwiches in sweet Maggies stateroom myself dear chap, while quaffing copious amounts of top shelf quadruple distilled vodka beverages of course and discussing the worlds financial turmoils with my pigmentally endowed good bovine friend BlackSheep and your good self.
I find tha atmosfear conducif ta gud disc dis di Yarnin an liyk an i kin lit me air duwn a tad wile chewin on sum gud nosh an awl.

Geez i tink awl da drink wunt ta me ead afore an I los da plot spekin giberush I wus. Wot i ment ta say was ya can git a gud feed an chat in da crows nest hey.

[youtube]http://www.youtube.com/watch?v=MGlpxviu8PY[/youtube]
 
Wooo Hoo an awey wee goo. OOH i tink i bin pardien too much. i feal a weee bit dizzi. whill sum one tell sidertonic da Ship SS haz ar belli full owf ouw
boodie an ya need da secrwet code ta git it ta move, ownly Captain Turk no'z an he twil tell Kaptun errol43 an den he twil tell uz, den da Ship SS twil
move an wee be gowin norf, headin home
 
James Turk said:
With the financial world around us imploding because of sovereign debt and currency crises, I think people are going to be surprised at how well gold and silver do, not only this year, but in the near-term as well.

So far this market hasn't given much opportunity for people to enter. Sometimes you just have to take the dips, even if they are shallow, and buy them.
Click to expand...


How much bigger can dips get!? :D :S

$48 to $26 a shallow dip! lol
 
There be littel change in de wedder...rain wrain and mure rain...De weel is wet tonight and de silva is onle moven slowlie...All de cru be aslep to the sound od de drummen wrain.

Rum and kokonut to keep warm..

Stan by for a quite nite. 33.39

AK ER43.
 
Tis still rainin Cap'n Erril but the breeze just picked up a bit, might be a storm coming to stretch the sails again! :)

Qwiet? hmmm too qwiet, dis shuld fix dat! :D


USD 33.87


[youtube]http://www.youtube.com/watch?v=fKhTk0IynHM[/youtube]
 
Whad ar storm derez bin, da SS wrocked an wrolled eddy ware. OOo wad ar nite. i seee ar spot ar lite furder norf, cud bee dat litehowze wee bee gowin tooo
 
Just doing a practice post of a song that I like.

[youtube]http://www.youtube.com/watch?v=2ZDhnRo8YvQ[/youtube]
 
You must log in or register to reply here.
Back
Top