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Tuesday, April 5, 2011

Breakout

As long as the rally holds into the close we will finally have the breakout from the huge triangle consolidation we've been waiting for. Plus a close above 580.

710 comments:

  1. Gary,

    could you show a pic of your medal in tonight's report?

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  2. POLY

    I.M.H.O.

    Now is O.k. to buy, we are having breakouts on volume.

    I got AXU yesterday , exk, svm, all look like AG a few days ago.

    Jump in the pool, the waters fine.

    I know you said its late in the cycle, but if this goes parabolic, pullbacks could be intraday and minor.

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  3. Gary

    do you think it is safe to be adding new positions to silver at this time?

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  4. Gary,

    if the breakout holds into the close, how many days would be left in this cycle?

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  5. This comment has been removed by the author.

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  6. I am at the airport about to board my plane, so I cant post until late night...

    Ride that Bull :)

    p.s patterns like AXU are cup/handle or flag pattern breakouts and should run well.

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  7. everyone buy something to keep the price up for the close! smt effect is a force not to be messed with!

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  8. Last comment

    PIMA , congrats man...I am still looking at that NG , but AXU I am in.

    NIce!

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  9. Intern, posted this in the last post in case you missed it...

    Most of the subscriptions are $100 annually. I started out with the Resource Report and did quite well on several of the recs (ex. SVM at $3.80 in June 09). Because of this I looked into the alliance lifetime membership which was $5000 at the time. I decided to go ahead and do it and it was well worth it. They have a great refund policy if you are not happy. I would suggest starting off with one or a few of the newsletters to see how you like them. You will get bombarded by advertisements for other products though. I just hit delete and don't bother with them. It's a price you pay as they have to market their material to make money. I liked the lifetime membership b/c I have the advisors that I focus on but it has also broadened my investments by teaching me and introducing me to several strategies that I would have never considered or tried on my own.

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  10. n1tro

    AND don't sell anything!

    w6lz

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  11. Look at the bollinger bands. GLD cross above ? If you see months ago, GLD retrace in these situations ? Shall we worry ?

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  12. If one tries hard enough they can always find something to be worried about.

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  13. Neo

    If this is the breakout we have been waiting for, the price of GLD should tap dance along the top band for a couple more weeks.

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  14. Thanks Alex, you're picking some real winners, I trust you.

    I'm already fully invested/leveraged, I'm thinking about the coming cycle low exit strategy.
    But first, we should have a good week of sitting back and watching our accounts like up solid green :)

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  15. William,

    Thanks very much for repeating, I did miss it on last post.

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  16. SLW is the worst gainer today...it will hopefully make the ground over the next few days

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  17. Poly,

    I was going to ask you if you have any idea as to when or at what price the current daily cycle might top out, but I see you just posted that we should see a week of upward movement here. So I take it you're not expecting the daily cycle high to come in in the next couple of days, right?

    Based on what the last daily cycle did, we COULD see another week or so. Of course, this daily cycle is not likely to be an exact copy of the last one, so caveat trader. :-)

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  18. Neo,

    I like channels. Yeah, the bollinger band is getting hit, however the upper channel on gold futures is way up around 1470 and rising with each passing day. We may NOT tag the upper channel line before a pullback, but seeing it up that high tells me there's still room to run here.

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  19. I just have one question.

    How in the hell can gold, silver and miners be rallying like this in a market that is being suppressed by the government?

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  20. Silver's upper channel line is way up in the stratosphere, so I'm not even gonna go there... :-)

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  21. Everything green EXCEPT PSLV!!

    Those dam premiums on the NAV.

    (AARRRRRRGHHHHHHHH!)

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  22. The Chief Suppressor is out ill today.

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  23. okay, here's an interesting intersection of two channels and possible a daily cycle top:

    On 4/12 - 4/13, silver's upper channel line drawn off the 1/28 low intersects the larger channel drawn off the 8/24 low. Price at that intersection is around 43.20.

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  24. To extend the rally and celebrate new highs:

    http://www.youtube.com/watch?v=UJOjTNuuEVw

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  25. Pima,

    I have NO idea on price.

    But we're on day 16 and we broke to all time high's on Gold, 30 yr highs in Silver and breakout of HUI. You would have to think probability is fairly high that we get a decent pop this week.

    It's why i recommended yesterday to hold those "speculative April calls" looking for a cycle pop. Unfortunately, there are no certainties.

    Looking forward to a fresh Gary report tonight.

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  26. Thanks all for your answers.

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  27. Gary,


    The answer would be.

    "...Well we should be rallying more..."

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  28. Gary,
    Maybe the G'ment IS "trying" to suppress gold & silver. And just like everything else they try to do - they are screwing it up big time.

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  29. The NAV's on the Canadian trusts are INSANE! Seriously.

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  30. Poly,

    They make no sense however you slice it other than the greater fool theory that someone else will pay you the same Nav when you're ready to sell. Buying physical and storing it is MUCH cheaper but many don't want to hassles of doing this. And having the physical is more important IMO for many reasons.

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  31. Here's a chart of the channel intersections I was talking about:

    (I mistakenly said the smaller channel started at the January low. It doesn't, it starts at the 3/15 low)

    http://screencast.com/t/Swzxj3EDCE

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  32. It's simple Gary. I'll use a Peter Schiff analogy. It's like holding a beach ball under water eventually the harder you push down eventually you lose control and the ball comes flying threw the water.

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  33. Elad,
    No the answer is that if the government is trying to suppress price then it is artificially increasing demand. The big move is a result of suppression not limited by it.

    In a true bull market with true fundamental demand anything that artificially depresses price will only speed up the rise not slow it down.

    The conspiracy nuts just don't understand basic economics 101.

    If the government is trying to drive price lower then that is the main reason gold is now at $1450 instead of $1000.

    They are accelerating the price appreciation with their manipulation efforts not slowing it down.

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  34. This comment has been removed by the author.

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  35. This comment has been removed by the author.

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  36. As an Austrian economist I know has said many times (through SI and through his blog), the gov't (or any large entity) can manipulate [whatever] but eventually the fundamentals will prevail.

    Manipulation isn't necessarily total suppression of all price appreciation, either.

    Regardless, I'm here because it's a bull market, and IF it's a bull that's suppressed by heavy manipulation, then one of these C-waves is going to blow our socks off. Probably not this one, which will be amazing, but the one where the masses pile in, which will be the next, or more likely, the one after that.

    p.s. sorry for the deletes...

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  37. did anyone ever answer if it is safe to add new positions now?

    If I had to guess, I would say that it is, because we are breaking out, and it's day 15 of a cycle that lasts 25-30 days, and it's possible that we will get 7 up days for every 10 trading days...

    Gary care to confirm my reasoning?

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  38. Msnbc is running a special on how there is a lot of investment demand for Gold, then the commercial for this show says but do YOU realize that people in poor country's are getting slaughtered for this commodity. I think "they" are trying to paint Gold Red. Coincidence? NO...I think it's deliberate. That's just me

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  39. Whenever someone asks if it's a good time to add to positions what they really mean is if I add now will I not get a draw down?

    Unfortunately I don't know what is going to happen tomorrow.

    There is still time for more upside in this daily cycle so by that measure one could probably add on the breakout.

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  40. The nav for cef is less than 4% under the market. Owning that has been a good experience for quite awhile now.

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  41. Is anyone at all worried about the paper market vs. the physical ... I've asked this question before but never get a reply to it.
    If no one replies again I'll assume you're all content with paper silver and no worries.
    Personally, I'm gonna start to hold 15% of my PM's in CEF (physical). I know ... paranoid ... but really there is no downside ... instead of making 200% on HZU I'll only make 180% ... sucks don't it :)

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  42. Avann

    Very worried. If it wasn't for Gary thinking I'm crazy I would probably have half oF what I have In CEF and Sprotts trusts. When Gary starts to change his tune, that's when I will make changes.

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  43. msnbc...really? Is that for comedic relief?

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  44. /GC and /SI and AGQ all just plowed thru upper trend line..pretty, very pretty

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  45. PC

    you might want to check these charts
    link posted by emanuel
    an idea on how far this c-wave could go.
    i was impressed.

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  46. Avann,

    NOT in the slightest. Just means we need higher prices to release any pressure. Any other talk is just cheap nonsense, IMO.

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  47. so far my account, today, is up 8.4%. Yesterday it was up 7.4%

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  48. First time posting. Just wanting to thank Gary and John Townsend who recommended last Fall to sign up with Gary and to thank all you able posters on the blog. I never knew there was a blog until a month or so ago. I can't help with expertise since I spend a lot of time caring for and planting trees on my land and in volunteering elsewheres so your expertise is helping a lot of others and hopefully you will have fresher air through the trees being planted. Your expertise helps in that my first 10% goes as tithe and the second 10% in earnings or time goes for charity like trees and medical and then the third 10% goes for investing. If there is anybody reading that is not a subscriber I would urge them to subscribe immediately. My wife's IRA was $300,000 on January 1 and is now $380,000. I'll try to post a second posting later.

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  49. I am amazed by all the questions about SLW. I have been in and out of SLW, especially their warrants, for years and the company has made me a killing but if something is lagging for months, you don't hold it and pray it catches up. Drop it and move on to something that's atleast keeping up with the averages.

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  50. Eamonn, I know, isn't it nice to see it all green! I moved about 60k out of GLD into DGP this morning. Looking good :)

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  51. pc,

    sorry
    link was
    http://thetsitrader.blogspot.com/2011/04/fibonacci-gold.html

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  52. Fed minutes coming out shortly.

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  53. Well good thing you guys got out because the market is about to make new highs...

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  54. @TLISGR
    why dont you plant some corn plants instead of the trees so we can all have a cheaper grocery bill.

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  55. Looking to move some GLD into something else more rewarding... Any ideas out there from you wise folks? Thanks.

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  56. Chris Kimble pulling out charts showing breakouts in gold miners and silver: hopefully, this pulls the masses in further....

    http://blog.kimblechartingsolutions.com/wp-content/uploads/2011/04/silvermonthlydailyupdateapr5.gif

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  57. This dollar is not pulling back, and since its below 76...just a matter of time before a fed gov speaks...

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  58. in john article there is date 23 may 2011.

    its same date you get by doing 3142/8 from april 26 2010 top!

    also oct 10 2002 low + 3142 = May 17 2011

    something is going to happen around those dates!

    in the past = 9/17 (day market opened after 9/11) + 3142 = 25 april 2010 (missed by one day.. also actual low was 9/21/2001)

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  59. Yash,

    We may be ringing our cash registers and booking profits around these dates:)

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  60. Hi ...at ease, yes, its great to see everything lighting up green. I took a risk a bought a lot of AG, and it has done well so far. I will be watching Gary's reports, however, to pull out of it when the cycle high is done. I reckon AG would be very nasty when it pulls back. Maybe I will be wrong

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  61. Yash
    LOL...understood that perfectly...ya got another seat on that spaceship?

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  62. @Razvan
    yep! growing corn would help us all out by lowering prices and give me a lot more money since I mostly plant redwoods which are "just for pretty" and not for the money. But most of the corn is not organic in that it is gmo and I only do organic.
    the redwoods cost me 65 cents apiece for a thousand and I'm not very good at growing stuff in that I ordered 5,000 and now have about 1,100 that didn't die, but they are 20 and 30 feet high already after 6 years of work.

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  63. TLISGR, I love so much the countryside and wildlife. I have some damp, acid soil I intend planting (in Ireland). I might drain the soil first

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  64. Eamonn,

    Wanna trade some time in Ireland for North Carolina? Love to go sometime. Of course like every American it seems I'm Irish and never been over to check it out.

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  65. Kevin, I will go anywhere I can hear the sound of flowing water, the birds, and the wind

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  66. It looks like the silver futures are really being capped by the upper BB which I have at 39.26...keeping in mind that the BB is moving up so it should be higher tomorrow.

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  67. Guys
    There is another fund out there that trades just like AGQ, but I think out starts with a g, does anyone know it?

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  68. Looks like GPL is still being held back by it's large share offering at 4.20. Are folks still holding this? Is it time to dump it? All thoughts appreciated.

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  69. In classic 1984 newspeak, front page headline from Yahoo Finance:

    "Bernanke: There Is No Inflation (and If There Were, We Could Stop It)"

    hahahahahahaha

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  70. Notgreedisgood,

    I bought some AEM and GG calls when gold popped over 1448 this morning. I had no exposure to gold as I am all in on silver. Gold and gold miners have really lagged and I saw esp. GG looking like it was ready to break out. Both positions moved up over 20% as gold moved over 1450. If gold goes to $1650ish these should run nicely.

    Also, thanks for the tip on NG Alex. I checked it out and decided to roll into a few $14 May calls.

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  71. Well, does anybody still think silver is going to re-test $38 on a gap fill?

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  72. @PimaCanyon

    in ToS what study are you using to generate your silver channels?

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  73. @Eamonn
    if you take up Kevin's offer for a trade and go to North Carolina you might want to visit San Francisco and there is a beautiful redwood grove there called Muir Woods. Nearby in Sonoma County there is Armstrong Grove and up north near Eureka there is the Avenue of the Giants. Then when you come back in 30 years with your grandkids you can visit my little grove. Redwoods like the moist and fog. You might want to check and see if anybody in Ireland has grown redwoods. My wife's sister in NW England loves my persimmons and has tried growing a tree over there but it hasn't yielded fruit as of yet.

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  74. Anybody bought NSM here :-) 70%

    just joking

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  75. TLISGR
    i didnt know corn was gmo but it makes sense if i think about it because it taste terrible. Growing up in Europe i had the natural stuff that you need to boil for 2 hours in order to be able to eat and it had so much flavor.

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  76. Catbird,

    What day did you get the gap for silver at $38? Are you talking about a gap in SLV on the NYSE (that doesn't open until 9:30) or COMEX spot? The other day when you raised this, COMEX spot opened flat and ran up over $38 in the overnight market, no gap there.

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  77. Hmmm.....Bill Gross and Mohamed El-Erian both say we have inflation and they have given up on US treasuries, Jim Rogers and Mark Faber have been ringing the inflation bell for well over a year, China is raising rates for the 4th time to combat inflation, Europe is most likely raising rates......and Bernanke is still holding firm in the no inflation camp.....I wonder who will be proved wrong???? And I wonder who will suffer because of it?????

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  78. Silverman,

    I'm out of GPL. Picked alittle bit up last wk after the 2ndry. Got stopped out this morning on violation of 10d MA. Still has the weight of the secondary on it. Which could lift @ anytime. It hit my stop so I was out.

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  79. Can anyone recommend a good RYDEX fund for a 401k (only option)? They have RYPMX, which is the metals one (FCX, ABX, SLW, NEM, GG, AEM, AUY) but it only has 1 or 2 morningstars.

    Thanks in advance.

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  80. guy,

    yeah, that link goes to a great post! Someone posted it yesterday (was it you?)

    The prices I mentioned in earlier posts today were more aimed at MAYBE being in the ballpark of where price might be at the top of THIS daily cycle. From the looks of it, this daily cycle will not mark the top of this C wave, so I would expect another daily cycle to follow which could send prices to where the TSI Trader is expecting.

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  81. TLISGR

    I had my doubts that anyone ever tried to grow Redwoods in Ireland, but apparently some people have. Not much luck though.

    http://www.gardenplansireland.com/forum/about1342.html

    Regards,
    Le Fou

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  82. In @ 1455 GC, 45.33 SLW, 38.29 SLV

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  83. gdxj 52 week high is 44 (yahoo) or 42 (stockCharts.com), which is correct?

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  84. Beautiful day. If you like money, stay long those miners. NUGT up over 9% alone!

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  85. Le Fou's barbacoa sounds delightful. :)

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  86. MLMT is still trying to scoop up pennies while the rest of us trip over 100 dollar bills.

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  87. And there goes the dollar...

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  88. Somebody asked about MVG. I think they have the answer now.

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  89. Hey folks, new guy here... Wanna get out of GLD, want a better return. Got some AG this morning, also some more AGQ. NUGT? A gold miner ready to pop?

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  90. Eamonn-

    I second TLISGR's suggestion of Muir Woods...a primeval forest like that is beyond description...

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  91. Thank you TLISGR. I really love trees

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  92. Kevin, UGL is the AGQ for gold, if that interets you.

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  93. Catbird,

    Silver @ $38 might, although unlikely, get tested during this current cycle low, IMO.

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  94. Thank you T.J. Rand. I would like to see Montana

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  95. Eamonn, we've got nice rocky rivers and trees and all kinds of wonderful parks. There are all kinds of great places in Western North Carolina, and East Tennessee (where I was born). There's a reason all those Irish immigrants set up farms there... ;)

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  96. HUI looking to break it 52 week high.


    A nice day to be in the market.

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  97. $HUI up 27 points!!!!

    Never doubt those miners ability to soar. I'm almost exclusively in the metal, but glad many are getting a big pop with miners today.

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  98. Kevin, sounds nice. I hate hot weather though. My skin does not tan, at all! Typical north european skin. coo temperate climate suits me best !

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  99. Wow even GDX is doing better than SIL

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  100. SB,

    I love Barbacoa's. Eat there at least twice a week, and I have been known to eat there twice a day.

    Kevin,

    AG, AGQ and EXK are the best in my view. SVM, AXU, SLW, GORO, RVMID have all been recommended here lately.

    Best,
    Le Fou

    Best,
    Le Fou

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  101. guy,

    Thanks for posting those charts from the tsittrader, those targets would be very welcome.

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  102. Thanks Aaron... Traded it out. I'm in AG but kinda leery about investing in miners I don't know, and not real sure I understand NUGT. How do you all do your due dilligence with those miners? I can only assume many of you know and trust each others' independent research?

    Sorry if I ask a ton of questions.. love to learn and want to retire someday. Thanks.

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  103. T,

    Not using a study. Channel is one of the drawings that are available.

    On the lower left of TOS chart screen I have a little box that shows the current selected drawing. If you click on that a menu of drawing comes up and you can select the channel. Then just play with it. You mark two points on one of the channel lines you want to draw, and then a point on the other line.

    In a rising market, my primary line is the bottom channel line, drawn off at least two lows. The top channel is just a parallel line to the bottom that goes thru the highest high it can go thru (sometimes it will tag two or more highs).

    In in declining market, you would want to use a succession of lower highs for your primary channel line and draw the secondary line parallel to it of the lows.

    Just play with it and you'll get it.

    You can also click on the drawings pulldown at the top right of the screen and select channel there.

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  104. Kevin, If they make you nervous, you should stick with the etf's. GDXJ, SIL, and maybe NUGT.

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  105. For those trading stocks, this is a very useful tool I use, and its free http://www.barchart.com/stocks/signals/top100

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  106. Eamonn, it depends on where you live. Lots of climate change in a hundred miles or less in the Appalachians... I live in Charlotte, where it's typical southern US weather, over 100F in the summer sometimes, ice in winter but rarely snow. My parents live in the mountains (Southwest Virginia) and I love to visit in July. It hardly ever gets above 85F on the hottest day... Farms and fields and rivers and lakes and fish and cows. In the winter, you need a 4WD and it gets windy and around zero (F) sometimes, but very beautiful in autumn especially. I'm sure you're used to inclement weather tho in Ireland. Anyway, gotta get a word in for my neck of the woods!

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  107. TK noticed the bullish breakout in miners. :-)

    http://slopeofhope.com/2011/04/bullish-breakout-by-miners.html

    Le Fou

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  108. Kevin,

    Lots of good names get mentioned here all the time. Since individual names pop up or drop off the best performing list each day, it might be best to go the etf route.

    I expect metals will continue higher, but have my money on the miners this round. Etf, or a basket of 5-6 miners is the way to go for the rest of this C-wave, IMO.

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  109. Kevin,

    Gary already outlines a very simple and aggressive portfolio that has really outperformed. Just follow it.

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  110. MLMT,

    Welcome aboard.

    Good luck!

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  111. Kevin, try UGL, I bought some yesterday. Also added DGP today out of GLD.

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  112. Kevin-

    Poly offers great advice. Because I have not put the time into due diligence of junior miners, I'm sticking with Gary's portfolio.

    I am expanding my research though, so the next C Wave I can work with individual Juniors as well.

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  113. at ease, Why do you buy 2 securities that do the same thing?

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  114. NG just at 50 MA, check volume!

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  115. Eamonn,

    Thanks for the link! I like it. I've bookmarked it.

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  116. what the heck?

    massive bullishness

    intraday reversal imminent, still looking good though long term though.

    c'mon 1485!

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  117. For those Interested, Eric Sprott on cnbc at 315

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  118. Gary, would you reconsider just not commenting on the stock market? It might save a few some bucks down the road.

    I know you have thought about it before, and I do understand there are some that are struck in stocks, but how about reversing the layout of the nightly and weekly reports and have the dollar/gold/miners at the top, and stocks at the bottom?

    Thanks, and you're the man for you weightlifting accomplishments.

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  119. Thanks all. I think I got confused reading the posts out of order on the main site. Is Gary's 26 March portfolio the one that's in play right now?

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  120. pimaCanyon, this is good if you want to go shorting http://www.barchart.com/stocks/signals/bottom100

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  121. Catbird,

    Silver might not retest $38 until the D-wave. I would lean on that versus it retracing this cycle. We'll see.

    I actually know what's going to happen to the metals and oil exactly this summer but I can't tell. :)

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  122. Kevin,

    Gary publishes his portfolio at bottom of every weekend report. He does not make frequent changes usually. he tries to trade only intermediate cycles.

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  123. Eamonn,

    Thanks for that link. Interesting site.

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  124. Eamonn, Thanks for the link, cool. Have you found this useful for trading or investing?

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  125. I would stay away from shorting everything while the dollar is in collapse. People who think otherwise need their heads examined, or to get a different subscription service.

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  126. ...at ease, I used that site to pick stocks when the bull was in full swing. Worked well. You can customise views to include market capitalisation and volume, and sort the stocks by column. I tried to pick stocks with high volume and high market capitalisation.

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  127. Down to 6x leverage due to recent gains. There will be more adding opportunities in future (on pullbacks) where I will continue increasing (always with small stops).

    Minimally we should have at least another month or so of this kind of action before a peak.

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  128. Does any one know the significance of the high of the day, 62.59 on GDX?

    I will tell you after the close.

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  129. This is clearly a 'recognition' day with plenty of panic buying. We should close a the highs and it should continue at least partially into tomorrow. Thurs will probably be a pause and then Fri goes out at the highs.

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  130. Eamonn, I will play with it, Thanks! Love new ways to get views of things. Thanks :)

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  131. Interesting fact from a Wall Street Journal article written by Stephen Moore on April 1st.

    "More Americans work for the government than work in construction, farming, fishing, forestry, manufacturing, mining and utilities combined. We have moved decisively from a nation of makers to a nation of takers. Nearly half of the $2.2 trillion cost of state and local governments is the $1 trillion-a-year tab for pay and benefits of state and local employees."

    I'm hoping this was an April fools joke.

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  132. MLMT,

    You fight the trend like that famous martial artist used to stand in the ocean and try and fight the power of the waves.

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  133. MLMT,

    What's the significance of the DXY currently sitting at 75.87?

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  134. >What's the significance of the DXY currently sitting at 75.87?

    Hillarious!

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  135. Anyone have an idea of why Great Panther (GPL) is dogging along, when almost everything else is way up?

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  136. What's the significance of the "significance" MLMT is about to bestow upon us?

    I can't wait.....

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  137. MLMT,

    Comments like that give me the sense that you're still running behind the bus. Hope I'm wrong.

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  138. Two more days like this and Gold will be above 1500. For some reason feels so far away but It could be by the end of the week

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  139. Silverman, He isn't running behind it. He is laying in the road right in front of it.

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  140. when permabear MLMT was talking a month ago about going long metals i knew we were headed for big trouble. Now that he still maintains his bearish bias i am more at ease.

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  141. The stage is set. Money is coming out of everything, stocks, bonds, and even other commodities, finding it's way into metals and miners.

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  142. so would it be foolish to buy a few AGQ ITM calls for this next leg?

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  143. Shalom Bernanke, may I ask: how do you know money is coming out of everything, stocks, bonds, and even other commodities, finding it's way into metals and miners ?

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  144. Miners and metals strong coming into the close. High fives all around.

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  145. U.S. dollar slipped slightly, giving gold and silver prices a bounce. Technical trading also helped as buy orders were triggered that forced traders to buy at previously appointed levels.

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  146. Any chance there is another competion for Gary to go win....I really like the pin action off his victories.

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  147. Eamonn,

    What else do you see smashing into new highs? Even the typical inverse relationship b/t bonds and stocks is not holding up. I'm referring to 30 yr futures (ZB), ES, NQ, and stocks have been slipping lower all afternoon.

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  148. If I were in bonds or the S&P, I'd want in on the action we're enjoying. No place left to go. :)

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  149. Avaan/Haggerty:

    A friend of mine just happened to ask what I know about CEF and I'd recalled that you mentioned it earlier. He's interested in physical but was questioning why CEF wasn't making the same gains as SIL/SLV. Do you have any thoughts I can pass on?

    Thanks in advance

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  150. Anyone have an idea of why Great Panther (GPL) is dogging along, when almost everything else is way up?

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  151. OK, thank you Shalom Bernanke, I am a novice investor really :o)

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  152. AG and EXK killed it today. GPL, not so much.

    ALEX, great call on NG. Well done!

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  153. Did my part for end of day. smacked another 100oz of gold. that tiny blip on the charts was me!

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  154. And until recently, most of the days metals have rocketed we'd see the same activity in the agriculture commods, meaning they competed for investable funds.

    That might have run it's course. We'll see, but there is no stronger bull market than when it's the only game in town.

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  155. Hot Rod,

    Sorry for the delayed reply.

    I was talking about SLV. Although I know silver itself trades overnight, many here have observed a habit SLV has of closing morning gaps up.

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  156. What a wonderful day!!!
    If tomorrow is a repeat, I'll eat my shorts...

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  157. Like a magnet SB, like a magnet.

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  158. SanDiego Jack,

    GPL announced a huge secondary offering a week or so ago at 4.20. Not sure what else is going on.

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  159. Yes, NG was a dandy. Like ANV, I like to see NG join in the fun. I don't know why this happens, but I've noticed these two names often lead bigger moves in the sector.

    The last jump we had was the only exception with NG, where it languished, so it's good to see it get in gear. I made a similar comment about ANV a couple days ago.

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  160. San Diego Jack:

    CTL + F: GPL

    You'll find your answer.

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  161. This is a noobie question to all, so please don't gasp is disgust: how can I view on a chart the typical inverse relationship b/t bonds and stocks, while on the same chart looking at the performance of other commodities? Thanks...

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  162. T

    hope you don't have beans for dinner

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  163. SB,
    To be fair ,my EDC holding did better than AGQ last 5 days until today..

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  164. wmp

    CEF is a closed end fund(meaning there is only a certain amount of shares that are on the market to buy) It is just as good as buying physical I believe. I think 98% of the fund is held in gold and silver bullion.

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  165. You got that right, Low Tax!

    Congratulations to those that had the fortitude to hang in a few weeks ago when they were shaken up. Your payday is on the horizon. :)

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  166. Picked up some NG near the close, crossed the 50 MA, nice volume

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  167. ao92000,

    That's exactly my point. People in such things that have worked but are tiring will look to make adjustments.

    Where do you think that money will go? Where are you thinking of putting yours? :)

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  168. Wmp also

    When I first found this bull market in 2008ish and I opened an account with Europacific (Peter Schiffs firm) I only wanted to go in to physical. and that was one of the options that they recommended. They also recommended the Perth mint. I would recommend Goldmoney.com. It really is reasonable storage rates and is run by James Turk who is very reputable.

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  169. wmp

    There are several reasons cef dosen't track sil/slv. cef is a mix of gold and silver (about 50/50 dollar amounts). It has no miner component (ref. sil). It typically lags direct market action and it's price bounces (down and up) if they issue stock to expand holdings. Comparing it to a, currently, hot pure silver play is the problem.

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  170. Brian,

    I was hesitant to do the control function, thinking you may have lead me down the path to reformatting my hard drive.

    But alas, I learn something new! Thanks.

    Great, so GPL dilutes their shares, and we are left holding an empty bag. See how it performs tomorrow, and bail if it stalls again.

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  171. The Gold breakout today is far more significant that is given credit.

    First it's confirming the current cycle is going to be RT. It's new highs for the Int cycle and obviously all time highs.

    http://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=0&mn=8&dy=0&id=p18692707287&a=230354038

    But more importantly, it's breaking 5 month overhead resistance that dates back to Nov 8th 2010.

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  172. Just checked Bloomberg and this headline was one of the top stories:

    "U.S. Stocks Erase Gains Amid Concern Fed to Withdraw Stimulus"

    These people are about as smart as two rocks. And that may be insulting to the rocks.

    Come on, you watched the S&P fall 5 points back down the level it opened while gold and silver jolted higher and the dollar gave back all the early morning gains. Can someone please help these poor journalists out here. This is pathetic.

    On the other hand Bernanke's Bloomberg pen name could be Michael P Regan. If it is nice try Bennie it didnt work.

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  173. Shalom,

    Haven't you had your eye on NUGT for a long time?

    I nibbled on some at the close because I suspect you may be right about miners outpacing metals for the "blow off" phase of this wave.

    If the outperformance trend lasts much longer I may sell half my AGQ and put it in NUGT.

    AG looks wonderful but the thought of some mine flooding or a strike means I won't commit significant capital in it.

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  174. One thing for sure, somebody is buying the miners. And since most here are already loaded the purchases didn't come from us.

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  175. It's funny that people will continue buying a stock that just decided to dilute and the buyers don't even know about it.

    Shows how much research people put into selecting individual miners.

    First leg of the C-wave I owned a bunch of individual miners and was touting hard AG, EXK, AXU, and GPL. This was when AG was $10, EXK like $5, AXU like $7, and GPL like $2. DId you guys listen to me or did you come up with them on your own?

    Anyways for whatever reason SIL is under-performing them but I feel much better holding it versus a basket of ind. miners. My account is much simpler now with three holdings, versus 10 or 12 before. Waves are much easier to ride when you have one board instead of 4.

    SIL also seems to catch up at the end of the waves, overall I don't expect it to underperform too much.

    I feel bad for HL owners too. Management treats shareholders like dog poop. And the hedgies LOVE Hecla! lol. Stay far away from anything the hedgies orgasm over.

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  176. Even if we were a billion in buys together that's still nothing in the scheme of the global markets.

    You know when all the trillions of pensions comes into the miners, GLD, and SLV that the game is up. Don't anticipate that will happen for a few years now.

    It's funny how its public that pension managers are getting paid off by companies and hedge funds to buy their stocks/holdings and everyone still turns a blind eye.

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  177. Now that gold is at all time highs and miners have broken out, I am definitely one happy camper. I really have to thank Gary and everyone here that has helped me not only ride this bull but more importantly learn to add into strength. If it wasn't for the people here, I would have either sold out for a tiny profit or got shaken out a long time ago. A big thanks to everyone!

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