What’s worse of course is that this is yet another Q4 that we’ve failed to rally – which means we are going to face another year of tax loss selling in the sector. I’m really leaning toward dumping all my shares and stepping aside until there is some kind of real rally.

I saw Ron Paul on a commercial today endorsing Bitcoin IRA’s, really?? Anything but gold is a viable investment I guess.

In the meantime we watch and miss out on a SM rally that has lasted 8 years and never ends, because we/I bought into the bullshit that gold was actually money…it’s not crypto currencies are now more viable.

The longer this goes on, the more I think normal events/news mean nothing to the Rig, only a major event will shake it…or the swamp gets drained.

I don’t do margins even though I know you can make a lot of money on them with free money less you get a margin call so hard to understand the old tax vs new tax on them. What I know out of a few things that lose people money is not initiating and reevaluating stops.

So as we came into the fall season all the so-called experts said gold was heading into the perfect upside storm. Everything was lined up for gold, good monsoon for Indians wedding season, Chinese demand and gold backed yuan, low supply, hi demand etc, etc. So if we can’t rally now, you have to ask yourself, when can we ever. Its like gold is the ninety pound weakling and the 300 lb bully has a firm grip around his neck and will never let go. Its like everybody is sitting around waiting for somebody to do something, but nobody does.

Gold, Yen Jump After Reports Yellen Returns To The White House (For Lunch With Gary Cohn)

Reuters reports a White House spokesperson confirms Yellen is at The White House for lunch with Gary Cohn – nothing out of the ordinary.

even Sid Vicious wouldn’t do such a dastardly act.

Just been out as well and come back to same shiite. Nothing changes….

Just checked out the Nikkei…Sep 7 it was 19,200…as of now 21,500…it has done 2,300 pts or 12 % in just over a month !!!!!!

No wonder the scum are all in, the US mkt looks like a major league piker in comparison….

Try WPM as the new symbol for SLW

SLV options max pain must be $16

Imho 2000 and 2007 were two different events. 2000 was a hugely overvalued SM, as in ’87, wheras in 2007 it was the Derivatives that pulled the banking system down, which in turn butchered the SM.

Plus in 2000 u did not have the Algo’s, as u do now. One can be sure that the scum have employed them, eg the 1 % rule in Gold.

Where I see them going wrong now is the way they are gaming the SM, which in turn must be allowing vast amounts of one way trading systems to develop, like the Vix sellers. Volume is drying up, so when those same systems dump, there will be no buyers and machines don’t have any logic, so they will offer until a bid is found.

The next bear may only last seconds, but wipe out 75 % plus !!!!

has found it’s pre-programmed levels for the day

DOW up between 65-75 pts., and should stay in that range all day long

but the rig keeps the big money out I guess

no way they let silver or the silver shares off the mat with the USD so strong

just another Friday

Leviticus 18:22 – Thou shalt not lie with mankind, as with womankind: it [is] abomination.

Leviticus 20:13 – If a man also lie with mankind, as he lieth with a woman, both of them have committed an abomination: they shall surely be put to death; their blood [shall be] upon them.

Proverbs 6:16-19 – These six [things] doth the LORD hate: yea, seven [are] an abomination unto him:   (Read More…)

Proverbs 17:15 – He that justifieth the wicked, and he that condemneth the just, even they both [are] abomination to the LORD.

Deuteronomy 22:5 – The woman shall not wear that which pertaineth unto a man, neither shall a man put on a woman’s garment: for all that do so [are] abomination unto the LORD thy God.

in there what with the $ index up 360bps–We hear talk about all the money out there “looking for a home”–silver has to be one of the last assets to be bid up…y’ud think investors would look at it that way…but then there’s the rig…

which is really hard to find… silver wheaton has been pretty steady lately

I remember the good ol’ days when a company like GE missed earnings the whole SM would get trashed.

These days nothing matters, certainly not earnings, unless it’s a pm share

an interesting aside .after the 87 crash  ..I calculated if the crash never happened 3 months later my holdings would have been worth 3 millions…

Margin was the real CULPERT  …  But in defence of myself… I figured at that time the Laws at that time allowed me to deduct the Margin interest off my Earned Income .which is no longer the case, so The taxes I would have paid subsidized my Margin trading costs.  I calculated right…Uncle Sam was paying for my Margin Interest  and I owed no taxes ,but everything was getting to be a bubble and there is the problem..The old Black Swan event that sends everything crashing down…

A little history would help understanding my situation…I started in early 1950’s I bought 5 stocks ..Pan Amer air,BBM photocopy..I was 25 years old and walked into a brokerage and met a young broker there ..He was from Miami I from NJ.and we hit it off immediately since I was famliar with Miami and loved it .It was a Grand place in the 50,s.. He had another client ..a guy about 90 years old from miami and he was a bottom fisher and taught me how to buy stocks after a crash ..I thought his ideas made sence and put them to use..over the next several years..I bought Toys r us in Bankruptsy..at .50 later sold it at $50 bucks..bought A&P in Bankruptsy for My biggest COUP $5 bucks later sold 10,000 shares at $37.00 after the 87 crash,it actually got to $54.00 days before the crash .My biggest COUP was Circuit City a Richmond based company who bought a penny stock I owned called Lafayette Electronics at .37 cents that sold electronics in NYC.  I was then a stock holder of Circuit City and did research on it and I  discovered they were in the VCR busines that was just getting started ..a new invention  I was delighted. They were originally an appliance business ,but the electronics was growing fast and thats what interested me.I kept buying more stock .The old guy running it called it “the loading Dock” ..His son had no interest in the business as he was a Lawyer in DC.So the old guy hired a guy that sold him electronic cash registers and understood electronics named Rick Sharp.Well he made Rick an offer he couldent refuse ,come work for me and grow us into an electronic powerhouse and Ill make you CEO of a big company ..He did and they did,and my 2 thousand dollar investment in a small NYC electronics business Lafayette Electronics  grew into the Largest VCR and electronics business in the US.He went to California where nobody sold tvs or Electronics except in Furnature stores and created the Circuit City Super store….I ended up owning 16,000 shares of CC worth $50 per share after 5 splits and 5 years…all from a penny stock.. I   became a confirmed bankruptsy expert buyer..bottom fishing…The most intersting case was A&P ..the stock was $5.per share ,but they had $11.00 per share in CASH hidden in the old guys pension funds ..I said to my self what ? I get the stores for nothing and double my money in cash .Whats not to like ?  it took a few years but they hired the right guy away from grand Union Supermarkets ,a turnaround specialist and he found the money and busted the Unions who were killing the company.. Yes I still like bottom Fishing  ! It take time to bear fruit years mostly,but the rewards are great ! So in 87 I had huge profits ,I had turned a tolol investment of about 15,000 in to 1.6 million using margin …even after the crash what I had left was still profits ..margin was the problem ..Taxes were going to be a problem because I sold nothing all those years .There were many more companies involved than I described here and LOTS of IPO’s that Wesley got me participated in.He was making 50,000 a year on my commissions ,but gave it back to me in IPO’s participation worth at least as much..We were a Great team…  I still miss him..

Yep, same old whether options expiration or not.

SM will open up and stay up all day, pm’s will open down and stay down all day.

Supposedly the SM is up because the clowns in the Senate passed a budget and might pass tax cuts.

Somehow I think the tax cuts won’t be good for the middle class.

so where are the Big strikes for GLD and GDX…

GLD 122/123 GDX 23/24….Pretty much right where we are, now the rally has been killed stone dead.

Meanwhile the SM cruises on making boats loads for all Call buyers and monkeys out of any Put buyers.

Some great quotes from Jesse about ’87…but it wasn’t S&P Futures that Greenspan bt, it was Value Line, on Tuesday 20 Oct, the day after the crash.

The Value Line Mkt hardly traded…but it had No Limit…All the other Stock Futures were called Limit Down on Tuesday 20 Oct, having closed Limit Down on Monday 19 Oct..They all then opened Limit Down and Pools started building at Limit Down….The Value Line opened way down and was soon calling another Limit Down for Wednesday on the likes of the S&P…..hence real panic started developing…like total terror.

Then out of nowhere a mystery trader walked into the Value Line Pit, who none of the other traders knew and this being a small pit, they all knew each other really well. The Mystery Trader then starts buying every offer in the Value Line pit, soon he bids it above the equivalent of the likes of the S&P limit, providing an Arb, where u can sell Value line and buy S&P…still he keeps buying, as Pools soon disappear in the S&P etc and then suddenly the Limit Down pools are gone and all Index futures are off limit and rallying fast.

Monday 19 Oct S&P futures closed down over 20 %, on Tuesday they closed up 5.3 % and on 21 Oct up 9 %…Who that mystery broker was no-one has ever said…but as Jesse says, that Day the scum were born.

Dear Lord!   A quarter mil margin call.  You done awesome !  My downfall was only $50k.  I was trading commodities in the ’90s in my younger and naive days.  One hot summer there was little rain in the midwest.  I visited family there in August the the corn crop was dismal, stunted, and some fields were already dead, so I knew there would be a corn shortage, so I went long corn.  The trade went well for a week or two, and I was $50k profitable when I doubled down on my contracts one Friday.  I had a stop under the market that would have still netted me $10k profit, so I had no worries.

The market opened limit down on Monday.  My brokerage forced me out of the trade (sold me) and gave me a $50 thousand margin call on Monday morning.   I was stunned.  This was my introduction to ‘no guarantees’ on stops, market manipulation, and the road to bankruptcy.   I liquidated my IRA that had only $38k and put $12k on credit cards to pay the broker… and closed my account.  Never did recover from the credit card debt and flushed it in bankruptcy a couple years later after struggling with debt payments.

Knowing what I know now about market manipulation, I’m guessing some BIG commodity user like Kellog or other wanted to make their cheap autumn ‘buy’ of corn for delivery, so the first thing they do is short the crap out of the market, run the stops, and then pickup distressed corn contracts on the cheap.  It was a real cynical education for me, and I have never trusted paper markets since.