Dang! Opening in the RED again!

[madfranks]

After the severe beatdown last week in AU/AG, I thought we'd at least see a little green in Asia trading, but NO! Silver opens down $1.25, and gold opens down $15! Crazy!

[1970 silver art]

Yep. JPM is not done wth silver. Just another good day for JPM. Nothing to see here.

[MNeagle]

Gold's not done yet either...

[Shami-Amourae]

I'm guessing Silver has to hold at $26. How can it go any lower?

[1970 silver art]

I'm guessing Silver has to hold at $26. How can it go any lower?

My gut feeling says that it will hold $26 and bottom out at $26. However, if it does not hold $26, then I will guess that JPM will smack down silver to the $23-$24 range at the very worst.

[1970 silver art]

Gold's not done yet either...

We might see sub-$1600 gold by the close of trading business Monday (Sept. 26). We will see.

[mamboni]

I will begin rotating six figures cash into gold and GDX tommorrow. I don't care how much TPTB beat dwon gold [and silver]; they are desperate and cannot revoke the laws of economics. Their only exit out of collapse is money printing and monetization, on a massive scale. Gold laughs at their silly game of trying to hold back the tide with sand castles of unbacked bonds and imaginary IOUs collaterized with other IOUs, in the many $trillions. The smart money is buying bullion. The sheep are falling for this financial misdirection and will be wiped out. Every time I buy gold or silver I'm one individual saying "fuck the FED" and it feels good.

[bl96S5eu]

mamboni, why just gold?

[Glass]

just over 10 minutes to the Aussie opening. 4000 on the S&P index is the psychological barrier and we dipped under that on Friday. Been sideways action in the 4000-4400 range for the last 18 months. I think it will be a hard opening. Gold is showing some oscilation between 1630 -1650. Maybe we will see some clawback over the week.

[mamboni]

mamboni, why just gold?

Gold because my portfolio has sufficient silver now and I am still ahead as I invested long ago. I'm talking about my corporate account here and as it reflects assets of both myself and my partner, I am uncomfortable with silver presently. Additional price suppression appears likely. As for gold, it is the bedrock investment of the last decade and the coming decade and I have absolutely no doubts that gold will surpass $2000 before the end of 2011.

To James Turk you listen!

http://kingworldnews.com/kingworldnews/Broadcast/Entries/2011/9/25_James_Turk.html


Gold Analysis (Morris Hubbart at http://www.321gold.com/editorials/sfs/hubbartt092311.html)


A gold bullion rush is coming, and I believe we are within 12-18 months of seeing gold trading in the $3000 price range. Those trying to outsmart this bull market are looking to get the horn, and most of those trying already have, numerous times. Historically, when a loss of confidence hits a paper currency the decline can be earthshaking. I believe gold short sellers are going to get scorched. Large core bullion positions outside the banking system are your solution to this crisis.

GDX Breakout of the Decade Chart (http://www.321gold.com/editorials/sfs/hubbartt092311/breakout.gif)



The bullish inverse head and shoulders formation is activating, and $95.00 is the target. The powerful volume that is accompanying the move is the turbo charger that will see this market pick up serious momentum over the next four months.

GDX Close Up Chart (http://www.321gold.com/editorials/sfs/hubbartt092311/gdx_close.gif)



This chart is literally a close up of the right shoulder of longer term chart above. This type of multiple head and shouldering action is very bullish in this type chart pattern. Literally these formations can be used to identify stepping stone targets as prices moves higher. Note the above targets on this daily chart.

Gold Stocks Volatility Zone Chart (http://www.321gold.com/editorials/sfs/hubbartt092311/gold_stocks_ratio.gif)



What typically accompanies an overbought market is volatility, and volatility is definitely here. In the last two weeks you have seen GDX trade down 10%, only to turn higher and regain it all. It fell about 10% yesterday, again. It is important to have a program in place that operates on buying weakness to build holdings, rather than placing stop losses, because the volatility and computer program trading have effectively made the use of stop losses impractical.


Gold senior stocks have finally gotten overbought technically, after many months of being heavily oversold. Overbought does not mean overdone. The blue boxes on the above chart represent the most favorable season for gold stocks. The overbought condition normally stays there for four months. While most gold investors are probably in almost a fit of terror this morning, the fact is, technically speaking, this move up has likely just started!

[Sparky]

Gold because my portfolio has sufficient silver now and I am still ahead as I invested long ago. I'm talking about my corporate account here and as it reflects assets of both myself and my partner, I am uncomfortable with silver presently. Additional price suppression appears likely. As for gold, it is the bedrock investment of the last decade and the coming decade and I have absolutely no doubts that gold will surpass $2000 before the end of 2011.


I purchased some FCX last week after the massive PM and copper beat down. They are the largest copper miner in the world, and they also mine gold, silver, molybdenum (for strengthening steel) and cobalt. It's price has been cut in half since the beginning of the year; it's P/E is down below 6. It's a high-volatility stock; its 5-year chart will make your head spin, so you have to have the stomach for it.

[BrewTech]

i hate the comex, and I hate JPM... why i let them into my life ill never know

[mamboni]

I purchased some FCX last week after the massive PM and copper beat down. They are the largest copper miner in the world, and they also mine gold, silver, molybdenum (for strengthening steel) and cobalt. It's price has been cut in half since the beginning of the year; it's P/E is down below 6. It's a high-volatility stock; its 5-year chart will make your head spin, so you have to have the stomach for it.

Sparky, I don't follow copper and the little bit I've read about copper scares me vis-a-vis the economy. If gold is the moneatry metal and silver is hybrid monetary+industrial metal, then copper is squarely industrial and an excellent bellweather of the economy's future. And copper inventories are rising and China is slowing - so I don't like copper and I think it's going down or at best flat. I like gold as the ultimate safe haven for wealth. Gold will do well no matter what happens. I hold silver in the short term as a speculation on the low inventories and excessive shorts story - it's price can explode any time. But silver is very much a captive of the paper shorts and could go lower from here. Long term, silver's future is truly golden - it is the single best asset to hold after gold if one's time frame exceeds 5 years.

Short answer: I hope that stock pays well for you - but stock up on a good antacid and some Valium just in case.

[Plastic]

I was thinking about taking this here 145.00 I have and buying a few ounces of Ag tomorrow, but after seeing this Asian smackdown tonight I am definately gonna go to the shop.

Sub 30, whoda thunkit?

[ximmy]

I'm getting my reserve cash out in the morning... then watching the charts for impulse buys ;D

It's tempting to use a $7000.00 @ 0% 12mo. credit card I have ... LOL
;D;D;D

[Plastic]

You and me both Xim, you and me both......... Well, I intentionally had mine limited to 5k but still....

[Joe King]

i hate the comex, and I hate JPM... why i let them into my life ill never knowBecause you didn't know then what you know now.

[1970 silver art]

My gut feeling says that it will hold $26 and bottom out at $26. However, if it does not hold $26, then I will guess that JPM will smack down silver to the $23-$24 range at the very worst.

Silver has gone down $26 (intra-day low) and, so far, it has bottomed out and it bounced back from that $26.00 Intra-day low to $28.12 (as of 7:16 AM) as I type this.

http://i741.photobucket.com/albums/xx54/COScollect/26LOW.gif

[bl96S5eu]

@ximmy
[In my best Yoda voice]
JPM clouds everything. Impossible to see the future is but use their 0% APR money to line your own pockets you must. Use your feelings, ximmy, and find the truth you will.

[JJ.G0ldD0t]

@ximmy
[In my best Yoda voice]
JPM clouds everything. Impossible to see the future is but use their 0% APR money to line your own pockets you must. Use your feelings, ximmy, and find the truth you will.

and anytime I hear Yoda say "use the force", i wind up bleeding.

WTF?

[bl96S5eu]

@JJ.G0ldD0t, LOL.

Not victory, JJ.G0ldD0t, the shroud of JP Morgan and Goldman has fallen. Begun, this destruction of the non-elite has.

[mamboni]

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/9/28_Richard_Russell_-_You_Must_Own_Gold_in_World_Drowning_in_Fiat.html

Richard Russell continues:


“Wealthy people don't sell their gold, their homes or their insurance policies. The idea is to have purchasing power even when nobody else has any purchasing power. The great fortunes are made when you're buying and there's blood on the streets.



It's easy to make money in a hard-money bull market, but hard to hold on to those profits. I look at gold and silver, not as a play for profits, but as an accumulation of hard assets, in a world that it drowning in fiat money, and a world that will probably print trillions more of irredeemable paper. The word now is patience and no faith in the world's politicians who will print ‘money’ forever in the hopes that it will float us out of the recession.



GOLD -- Is not like any other asset. Gold represents eternal wealth. I accumulate gold, but I never sell it. In a severe bear market, the only item that you can trust absolutely to survive is gold. Gold is the ultimate insurance policy, which is why I don't worry about it and am not tempted to sell it when it declines.



Who ever said that Wall Street is an easy business?


I've wondered about this all along. When the Fed flooded the markets with liquidity near the end of the 2008-09 crash, did the Fed really halt the bear market with the help of trillions of dollars that were injected into the system? At the time I argued that the bear market should be left alone, that it should be allowed to fully express itself, thereby cleansing the economy as bear markets are supposed to do.


But Fed Chairman Bernanke knew better. After all, he was the nation's supreme expert on the Great Depression, and through his studies he knew very well how to end this bear market. ‘Helicopter’ Ben Bernanke would inject billions of fiat dollars into the banking system.


If there was one thing certain, it was that Ben Bernanke would not tolerate deflation or a contraction of the money supply. After all, wasn't it Bernanke who publicly apologized on the part of the Fed for contracting the money supply during the Great Depression?


Bull and bear markets are fundamental. They tend to run to conclusion, despite what Fed Chairman want. When Bernanke moved to halt the bear market, he simply held the bear market in abeyance. But bear markets run to conclusion, and this one will be no exception.


And now I'm thinking that the bear market that was interrupted in 2009 isn't re-establishing itself as it wants to fully express itself.


I'm concentrating on the number, Dow 10,000. This is a psychological support, and a number that separates the ‘hopeful market’ from the ‘lower depths.’ If the Dow closes below 10,000, the world will know that something is dreadfully wrong, and the bear market will start feeding on itself.


In that case, I expect another feeding of QE3 in a Fed effort to halt the damage. By the way, I assume my subscribers are OUT of stocks.”