Who Let the Dogs Out?

[beauanderos]

Those curs at JPM are up to their old tricks, chasing potential customers out of the Junk Yard with a veangeance. I guess they want to see if they can recycle gold and silver back to $1490 and under $25. Grab up all the physical folks (if you can find any), this is a buying opportunity

[agmoose]

I agree.....and think we will see $23 silver within a month. But won't find it at 18x face, that is for sure. Not the kind you can hold onto. Premiums will rise, coin shops may decide to not sell, and just say they're out, or only sell in small rations with a hefty premium. Had I not spent my powder on other preps, I'd be buying today. Oh well, Craigslist stuff I'm selling should get me some extra cash by Monday.

Buy Physical everyone.......

[68Camaro]

I'm trying to find the source of a 2012 newsletter or blog prediction - made mid year when the market was lower, predicting a new market high during spring of 2013, then warning to watch for a PM drop, soon afterwards would be a huge market crash of 60-90% in the May to September time frame. Meant to file it. Still looking for it.

[beauanderos]

I'm trying to find the source of a 2012 newsletter or blog prediction - made mid year when the market was lower, predicting a new market high during spring of 2013, then warning to watch for a PM drop, soon afterwards would be a huge market crash of 60-90% in the May to September time frame. Meant to file it. Still looking for it.

Well, I stated earlier (last month) that if the batstirs could keep the price suppressed during what is usually a seasonally STRONG period of the year, that they could then let off the breaks and the Sell in May and Go Away summer doldrums would kick in. For those who stack, this is a "who cares" scenario... for those who play leveraged ETF's... well, hmmm.... might be time to go pay homage to the porcelain altar

[$nack-Money]

yep AG & AU getting stomped today. $25.xx by close of business wouldn't surprise me.

[beauanderos]

There... they did it, took gold under $1500 and silver to $26.15. Methinks they will begin to cover shorts now.

[barrytrot]

I think you are probably correct Ray. Under 1,500 probably triggered a land slide of "stop loses" (i.e. guarantee my loses) and they delightfully eat them up and then move back higher.

It's the oldest trick in the book.

[NHsorter]

ouch, damn. I'm just trying to look away and think about something else. Not much I can do at this point but wait. If I bail out then I'm sure to miss any rebound.

[SilverEye]

What will happen Monday? Tax deadline and all. I think it could pop big due to PM's being bought for IRA contribution.

Nobody tell my wife how much I'm going to buy during this dip.

[beauanderos]

I think you are probably correct Ray. Under 1,500 probably triggered a land slide of "stop loses" (i.e. guarantee my loses) and they delightfully eat them up and then move back higher.

It's the oldest trick in the book.

The problem is that there is more than one confederate in the gang of train robbers. They have different motives. While some will begin filling their shorts, the thinly traded aftermarket has an ugly habit of contributing to the carnage. They don't want to just rob the train, they want to kill the engineer as well.

Thought. Could a motive also be to run coins shops out of business?

[Treetop]

Until the last year or so, I was pretty good at timing my silver trades. Im horrible at it now apparently. Ive been all in since 29. Doesnt bother me personally so much, but it annoys the wife and makes future buys less likely.

[PennysaverCP]

Wow- that's what it feels like to be taken out behind the woodshed. OUCH !!!!

[agmoose]

I think you are probably correct Ray. Under 1,500 probably triggered a land slide of "stop loses" (i.e. guarantee my loses) and they delightfully eat them up and then move back higher.

It's the oldest trick in the book.

The problem is that there is more than one confederate in the gang of train robbers. They have different motives. While some will begin filling their shorts, the thinly traded aftermarket has an ugly habit of contributing to the carnage. They don't want to just rob the train, they want to kill the engineer as well.

Thought. Could a motive also be to run coins shops out of business?

Funny you ask, as my local guy, the last within 25 miles, and I live in the suburb area of Tampa, said that ten years ago, there were three other shops within just a few miles. Now, just two within a fifty mile radius. I know he gets a lot of stuff from some of the local gold/silver places (coins and bullion) and he also has a big spread between his buy and sell, but eventually that has to dry up doesn't it? I mean really, very few people are building sets of Barber Halves or Quarters, etc. Sure the rare, more valuable lower mintage coins still have a market, but the average guy isn't in it. The average guy has moved to junk and low cost bullion. At least that is what happened with me. I have some collectible stuff left, but quit spending $100+ on a single coin and moved to stacking in 2008........and never regretted it.

[beauanderos]

well, looks like they want to slam it into the close, so they can wag tongues all weekend about how the precious metals Bull has died because the market closed on weakness.... irregardless of the fact that this is all card shuffling and no one has actually bet any real chips. Next week is options expiration... I would have expected this kind of activity then, not now. Who knows what will happen next week?

[68Camaro]

I'm trying to find the source of a 2012 newsletter or blog prediction - made mid year when the market was lower, predicting a new market high during spring of 2013, then warning to watch for a PM drop, soon afterwards would be a huge market crash of 60-90% in the May to September time frame. Meant to file it. Still looking for it.

Well, I stated earlier (last month) that if the batstirs could keep the price suppressed during what is usually a seasonally STRONG period of the year, that they could then let off the breaks and the Sell in May and Go Away summer doldrums would kick in. For those who stack, this is a "who cares" scenario... for those who play leveraged ETF's... well, hmmm.... might be time to go pay homage to the porcelain altar

I found the quote in part. At least a source. Roger Wiegand. The extract I found doesn't contain any words about a PM drop being a harbinger of a market crash - so maybe that was a different analyst. At any rate...

From August 21, 2012

...
The global stock markets will suffer a 10-12% correction in Q-1 2013 but not a crash. The harder crash is more likely to come in May 2013 or September-October 2013. The so-called Big One could take down stocks 50-90%. A -90% wipeout would not be unheard of... it has happened before.

The US Dollar will rise to at least Index 84.50 and perhaps to 88.50 in 2013 as the Euro skids first down to 120.00 major support and then falls further to 115.50 after a few weeks at the 120.00 level. The Euro Currency will collapse when Germany starts trading their old Deutsche Mark in parallel alongside the Euro. Lower Euro supports are 112.50, 110.00, 108.00 and then 80.00. If it gets below 108.00, we think the Euro is toast.

Inflation will gradually build in early 2013 and then race ever faster. Food prices will rise +50% in 2013 on agricultural shortages by farmers, but mostly on a sinking US Dollar and war.

A conflict will breakout in the Middle East between Israel and several of her neighboring nations. Oil prices will skyrocket. We do not see nuclear war in the Middle East but rather widespread violence using heavy weapons, drones, missiles and bunker-busting mammoth bombs.
...

Then January 2013 he says

Politics and Political Regression Induced by Crashing Economies

Here is the big picture of current and future trends. Most of these things we have written about before and elaborated on with great detail. We think they bear a reconfirmation and restatement as they are THE MAJOR TRENDS AHEAD FOR THE NEXT TWO TO THREE YEARS AND PERHAPS LONGER.

The US Dollar now at Index 80.00 will sell off over time to 46-40 on the charts, effectively cutting its value in half. This could take a few months but more probably a few years. The trend is cast in bronze and remains intact with no alternatives.

The USA debt ceiling will be pushed up to infinity. It stops when bonds have no value and crash and burn along with the credit rating of the United States of America.

Interest rates will rise dramatically when the bonds cave in as trading markets, not the central planners, realign bond and Treasury bill valuations.

Gold will rise to at least our old 2005 long-range technical forecast of $2,960 and most probably much higher.

The Canadian Dollar will rise with precious metals and other commodities, until these markets sell off in a global crash selling event. Canada fares better than the USA but it is tightly tied to American trade exports and will diminish Canada somewhat.

The three nations in the worst condition for this year in Europe are Greece, Spain and Italy. Others will follow down the Road to Perdition.

Inflation ramps up this year, heading for 15% or higher. If and when it touches 50% or more it becomes hyperinflation. Crude oil is beginning to rise on inflation right now.

History repeats and we see the cycle of 2013 to 2016-2017 replicating 1934-1938. The 1937-1938 US stock markets fell -45% in the third major selling event from 1929 to 1942. The Dow could touch 4,940-5,600 as a technical lower support. Politics and a markets selling overshoot might even take the Dow to 1,500 with a -90% smash like the 1929-1930 scenario.

3 weeeks ago he refined the initial crash prediction to:

Our take says the markets' breakdown hits in a vicious smash between September 16, 2013 and October 25, 2013 with a Dow loss of -38% to -50% from the year's high price.

We'll see how he does with this.

[schockergd]

And here I am , thinking I was smart bought my biggest ever buy of silver at $27.50.

Argh

[68Camaro]

And here I am , thinking I was smart bought my biggest ever buy of silver at $27.50.

Argh

Impossible to perfectly time a bottom, especially with physical. You did well.

[racandjjc]

What will happen Monday? Tax deadline and all. I think it could pop big due to PM's being bought for IRA contribution.

Nobody tell my wife how much I'm going to buy during this dip.

Lol i was just thinking..... how many rounds would it cost me for the new dog house i will be sleeping in when my wife checks the account lol

[AGgressive Metal]

Hopefully everyone here is smart enough to sit tight and not panic. Remember, even if it takes 3 years to get back to $30, that is a much better return than CDs, Bonds, Savings account, etc that are paying 1%.

[SilverDragon72]

I hope it stays this low and then some! More opportunity to keep taking from the JPM's of the world and taking physical off the market and into OUR hands! (insert maniacal laughter here)

Up? Down? I'm buying no matter what stunts they try and pull

[Catfish4u]

I hope it drops to $5 an ounce! More time and volume to stack.................

[scyther]

I hope it drops all the way to $4 an ounce! Then, a year after that, I hope we see $3 an ounce! And... a few years after that... $2 an ounce! Yeah! I'll REALLY back up the truck then! I hope it keeps going down forever!

[SilverDragon72]

BUY!
BUY!

And in case you forgot.....BUY!!!!

[fansubs_ca]

I hope it drops all the way to $4 an ounce! Then, a year after that, I hope we see $3 an ounce! And... a few years after that... $2 an ounce! Yeah! I'll REALLY back up the truck then! I hope it keeps going down forever!

Are you planning to cast a weight set out of silver or just rewired your house with it?

I honestly figured if it was going to tank seriously like 2008 it would have happened by
now. Whatever happens and I really don't know what will happen I have a plan and I'll
stick to it and hold tight.

[scyther]

I hope it drops all the way to $4 an ounce! Then, a year after that, I hope we see $3 an ounce! And... a few years after that... $2 an ounce! Yeah! I'll REALLY back up the truck then! I hope it keeps going down forever!

Are you planning to cast a weight set out of silver or just rewired your house with it?

I honestly figured if it was going to tank seriously like 2008 it would have happened by
now. Whatever happens and I really don't know what will happen I have a plan and I'll
stick to it and hold tight.

Well, in all seriousness, I guess it would be nice to get some cheap silverware, or some 100 ounce silver bars... and I could finally start buying gold coins I guess... but it would make the silver I already have feel even cheaper