If only the moon was made of green cheese: No more wars or threats of wars. Neighbors would be more gracious…Kids would be more respectful. Winters wouldn’t be so cold nor Summers so hot. Speculators would buy real PM coins and not the ETF’s. If Only didn’t clash anymore with Reality…if only.

todays paper.

sure must be shit. down 7% It looks like all autobots trading this stock. The reason I suspect this when I look at every trade go by they’re almost always round lots. HFT trading HFT. Made up stuff. Computers pulsing computers. Want real trading? There’s probably no real market at the moment in stocks like this. Weird stuff.

Actually the ETF gamblers have the majority of the open interest put / call ratios across the sector well below unity (open interest ratios are the only ones important because it shows speculators are willing to hold the positions overnight) because they are permabulls and think they are buying participation. The best example is SLV. It’s ratio is .25 — or 4 times as many calls as puts. So the machines don’t have anybody to squeeze, which is why prices fall.

If the knuckleheads that play this crap would just buy the metal — they would create a self-fulfilling prophecy and stop feeding the machines.

Same thing with the stock market. The ratio on the SPX / SPY is above 2, or twice as many puts as calls. Want to know why the stock market doesn’t go down despite the fundamentals — there’s your answer.

Everything else is moot.

Cheers

Otherwise, the paint has dried on this day.

Silver Wheaton hits $18 handle down 5%, AG and EXK dropping about the same.

USD weakness no real help, but we’ve done OK this weak against a stable USD

Capt. Hook – concur, the ETF’s have ruined this pm market completely. There isn’t any winning against the rig unless they decide they want to let things move higher.

I know what you mean, and you are right about all the factors at play in the rig. In fact I’m the only one who even bothers to talk about ETF permabullish betting practices that persist to this day. Precious metal speculators are truely their own worst enemies — and should go back to buying the bullion and shares.

Added to that though we also need fundamentals including the falling production and reserves i mentioned earlier — again — providing a bullish backdrop that the bankers and their buddies won’t be able to screw with 15 minutes after it starts.

Everything’s crossed in this regard over here.

Cheers

I entered GLD on this chart, In “Compare window, I added SLV AG CDE AGI. Results? GLD + 19.92% SLV + 20.07%, AG + 106% AGI + 146% CDE + 193%. You need to scroll sideways to get back to late ’15 early ’16.

http://www.google.com/finance?q=gld&ei=8dONWfjvIZTSjAHZl6SIDg

Yes. It’s been a very long road.

“By next year however, both reserves and production should be falling at an accelerating rate. And with any luck, enough of the deleveraging will be done to allow a strong bid to return to the shares.”

Luck being the operative word. I’m not sure I’ve ever seen supply/demand matter much in the pm paper markets.

“Bitcoin moment” – HA! I can’t believe Bitcoin has actually had a “Bitcoin moment” – beyond bizarre.

Why would the silver shares go up when they can’t make money at these prices? Pure silver producers are now starting to feel the pinch associated with these low prices. And then there general deleveraging risk – so people are not buying due to this risk as well.

That’s the immediate problem, and largely why the shares are sluggish right now.

By next year however, both reserves and production should be falling at an accelerating rate. And with any luck, enough of the deleveraging will be done to allow a strong bid to return to the shares.

So silver will have it’s ‘bitcoin moment’ at some point. (thanks to whoever coined that phrase – read it the other day.)

Just not yet. Things must mature. But I know how you feel. It’s been a long road – no?

Cheers

Although that article by adding Gartman could be the kiss of death. ?

Yup!! Fartman getting on board is a real downer…still he might be the blind chicken, this time.

The Russell 2K has rolled over. Wonder if the rest of the SM will follow?

Don’t bet against Gundlach, charts or not. Although that article by adding Gartman could be the kiss of death. 🙂

Sigh….yes I suppose that’s true but if we were going to $20 these silver shares would or should be anticipating it.

For now they are acting like we won’t hold $17.

Sigh…again.. 🙂

Gold Up 2%, Silver 5% In Week – Gundlach, Gartman and Dalio Positive On Gold

That’s nothing a $20 silver price won’t fix!

Article http://www.theaureport.com/pub/na/running-out-of-gold-buyout-phase-imminent

I remember when Silver Wheaton was the cream of the crop – First Majestic too.

Now they just stink

Canadian miner Tahoe Resources (TSX:THO)(NYSE:TAHO) suspended its quarterly dividend of $0.02 a share and deferred its full-year production guidance in response to a ruling by Guatemala’s Supreme Court to suspend the license for the company’s flagship Escobal operation.

The tribunal’s decision was taken last month and it supports a claim brought against the country’s Ministry of Energy and Mines by an environmentalist group called CALAS. The activists allege the Ministry violated the local indigenous people’s right to informed consultation prior to granting the mining license to Tahoe’s Guatemalan subsidiary.

Following the receipt of the legal order, the Vancouver-based firm placed the mine “on hold.”

On top of this, a two-month-long blockade on the primary road that connects Guatemala City to Escobal is causing delays in the transport of materials in and out of the silver mine, which is the world’s third largest.

cont. http://www.mining.com/tahoe-ceases-dividend-suspends-company-wide-guidance-due-uncertainty-guatemala/

What use is an electric car after a Nuke war and the grid is non existent ??????

You should be able to rinse, repeat that trade a few times.

Agree with you if we see a 100 pt. rally in the SM reversed it would be an ominous sign – until Monday when they try again to spike it higher. 🙂

we know about these “wars and rumors of wars” rallies in gold never lasting more than a few days.

We’ve watched all week as the shares have hardly moved. Confirmation it wouldn’t last.

Watch the money masters crush the VIX and spike the SM. It’s the American way you know.

That might get us our mini-black Monday….as for gold this pullback we just saw–where they took it into the red for 5 minutes–could be one of those shake-outs we see in a bull mkt. where the boyz want to get discounted merchandise before the next push…or, as Buygold says, it could be capping business as usual…

Oops! Just looked at the FOX business ticker…looks like Buygold was correct. yeah, I see now that that post CPI pop to up $7 couldn’t hold….not a good sign-I will still be looking to repurchase.

this time in gold. No doubt the will crush it below $1280 – USD weakness be damned.

standard issue smack occuring in PM’s, after clear bull break out while ramping SM and dollar bids come in.

Now we find out if mkt cares…if Janet/scum didn’t intervene 24/7 they would have much larger impact, when they did….now not so clear. After all who the hell buys the SM and sells PM’s in serious Vol, under these conditions…only lunatics and the scum.