Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Technical Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Robov who wrote (5736)	4/6/2013 10:20:41 AM
From: Beam	Read Replies (1) \| Respond to of 14245

Rob -- Great news for all us suffering PM longs. We've been waiting quite awhile for this interminable consolidation period to finally give way to the next leg-up on the LT bull run. I think the naked hedgie/banksters have driven out the last of the weak hands and are now positioning themselves to let the metals run.

To: Robov who wrote (5736)	4/6/2013 10:54:50 AM
From: The1Stockman	Respond to of 14245

Harvey Organ - Here is the Saturday updated on Gold and Silver action Rob. Japan loses control over its bond trading/Big miss in USA jobs report/Gold and silver shine for a change Saturday, April 6, 2013 Good morning Ladies and Gentlemen: Gold closed up $23.60 to $1575.40 (comex closing time). Silver rose by 45 cents to $27.30 (comex closing time). In the access market at 5 pm: gold: 1582.30 silver: 27.35 The big news of the day was of course the jobs report which showed only 88,000 jobs gained instead of the projected 200,000. Bourses around the world (that were still trading) plummeted as the world now begins to realize that the continual pumping of QE is hurting world economies instead of helping. On Thursday night, the Japanese government halted trading in the Japanese 10 yr bond which saw its yield first drop to .32%, then in a few hours it doubled to .65%. This set off circuit breakers and caused the authorities to halt trading. By closing time New York, the USA/yen currency cross bolted past the 97 column at 97.51. The 10 year Japanese bond finished Friday night at .53% yield: All of the above finally put a fire under gold and silver and these two metals never looked back. We will go over these and other stories but first......................... Let us now head over to the comex and assess trading over there today: The total gold comex open interest fell by 4523 contracts from 416,053 down to 411,545 with gold falling marginally yesterday. The front April OI fell by 1426 contracts from 3136 down to 1710 . We had 1455 notices filed on Thursday so we gained 29 contracts or 2900 oz standing for the April gold contract month. The next non active contract month is May and here the OI fell by 19 contracts at 760. The next big contract month is June and here the OI fell by 4472 contracts from 265,573 down to 261,101. The estimated volume on Friday was large at 185,804. The confirmed volume on Thursday was also large at 202,838. The total silver comex OI continues to play havoc to our bankers. Here the total OI for the silver complex rose again by a rather large 2880 contracts from 154,332 up to 157,212. we are now again at record levels. No doubt we have some very stoic longs who seem impervious to pain. It looks to me like we a major sovereign (like maybe China?) with proxies standing for much of this silver. The front non active delivery month of April saw its OI rise by 172 contracts from 153 up to 325. We had 11 delivery notices filed yesterday so in essence we gained 185 contracts or 925,000 oz of additional silver will stand for delivery in April. The next big delivery month for silver is May and here the OI fell by 656 contracts to stand at 76,546. Those that left May entered July. The estimated volume on Friday was good coming in at 45,177 contracts. We had confirmed volume on Thursday at 64,889 which is very large. harveyorgan.blogspot.com

To: Robov who wrote (5736)	4/7/2013 9:49:14 AM
From: Beam	Read Replies (2) \| Respond to of 14245

Rob -- Sinclair's view that the Feds are about to manipulate gold upward would appear to dovetail with your post discussing the record number of new long contracts coupled with a rapid decline in short positions. If Sinclair is right, and the Feds/CBs are now trying to halt further draining of gold from western vaults via higher metals prices, then I imagine the miners will be the greatest beneficiaries of this new strategy, being that the sector is so oversold. I think the juniors have the biggest percentage upside potential of the sector, with MUX well positioned with cash, properties and legendary management, to stay at the top of James' daily list of gainers. There's been a lot of very good drilling results out of MUX that didn't help it's stock price at the time of the PR releases. But I have no doubt at all that the results are well considered by knowledgeable sector investors of all sizes. This could be a very interesting week. If Sinclair is right, and the Feds do suddenly pull their switcheroo -- we might just be in for a wild ride -- and perhaps some, hopefully, breakaway gaps. One thing I'd like to see the board discuss -- does the US Treasury actually have any physical gold in its vaults? Will other countries force the Treasury into a verifiable audit in order to bolster confidence in Western CBs and the US dollar? And if Sinclair's scenario plays out -- will this be the first step towards returning our currency to some sort of gold standard? Opinions anyone?