tag:blogger.com,1999:blog-7982981413278241287.post7341201086263562257..comments2023-10-28T17:54:39.467-06:00Comments on The Golden Truth: The Comex Goes "Extend And Pretend" On JP Morgan's Paper Silver ShortDave in Denverhttp://www.blogger.com/profile/03016238915167131989noreply@blogger.comBlogger20125tag:blogger.com,1999:blog-7982981413278241287.post-62456493044341940662011-03-29T07:52:27.393-06:002011-03-29T07:52:27.393-06:00No idea what's going on with SDRG. Maybe the ...No idea what's going on with SDRG. Maybe the woman in China who's trying to outst Hazmat is running it up. The company is worth a lot of money if they can get rid of Hazmat. If they can't, he'll loot it into the ground. I'm not willing to take the risk that they can't get rid of him.Dave in Denverhttps://www.blogger.com/profile/03016238915167131989noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-70889060953055934032011-03-28T17:49:47.950-06:002011-03-28T17:49:47.950-06:00Regarding HL, the company has fallen out of favor ...Regarding HL, the company has fallen out of favor thanks to its (certainly on a longer time frame) relatively insignificant environmental cleanup liability that is as of yet unresolved. The street is currently implying that the total cleanup costs will dramatically exceed the nearly $250-mil allowance booked by HL already; I view that as an unlikely outcome, but until volume comes back in a big way and undoes the psychological damaged done by the post-earnings washout, HL is likely to be a sector underperform for most of this current bull leg. <br /><br />I will be looking to add to HL in size once the corrections come in late May/ early June, but for the time being, I'm happier playing it safe with SLW and SIL. I've made my best money buying HL into absurdly stupid weakness, as it has a tendency to test its 200-dma on significant corrections. I've made my worse money (that is to say, I've generally lost) buying HL in an uptrend or consolidation, even when the charts and tape tell me to. <br /><br />I'm with Dave, however, in that I believe that LT, HL is a super hold. It's just received one hell of a psychological bruising, especially for those of us who were holding March calls in the issue. Ugh. <br /><br />- RTSAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-4975630239364707982011-03-28T15:22:11.453-06:002011-03-28T15:22:11.453-06:00What's up with SDRG? It's running now. Is ...What's up with SDRG? It's running now. Is Marc Hazmat stepping down???Petehttps://www.blogger.com/profile/14113375186821239730noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-14460094636062608852011-03-28T11:49:26.197-06:002011-03-28T11:49:26.197-06:00Dave,
I hope you submitted your piece to the CFTC....Dave,<br />I hope you submitted your piece to the CFTC. The window for submitting Public Comments on Position Limit on Derivatives ends today, 3/28. <br /><br />http://comments.cftc.gov/PublicComments/CommentForm.aspx?id=965JPhttps://www.blogger.com/profile/09751978339290618888noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-16333431986415259852011-03-27T21:19:39.672-06:002011-03-27T21:19:39.672-06:00It wasnt an "invalid" driver's licen...It wasnt an "invalid" driver's license. It was a driver's license that he forgot to renew. Common oversight. Hell, I was supposed to go to Costa Rica 2 summer's ago with an old girlfriend and when I went to do the on-line check-in the night before the flight was supposed to leave, she discovered her passport had expired. Not a big deal. The big deal is the new BULLSHIT HSBC decided that someone has to go through to remove silver bars from their depository.Dave in Denverhttps://www.blogger.com/profile/03016238915167131989noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-40426923178399265122011-03-27T11:39:23.928-06:002011-03-27T11:39:23.928-06:00I sold HL because I reasoned like this: HL is the ...I sold HL because I reasoned like this: HL is the among the biggest Silver producers in USA. Logically JPM has an interest in them to take them over. So, like Silver, suppress the price long enough to tire normal investors, then take them over to cover the shorts. Simple, isn't it?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-89371412250151457162011-03-26T20:25:45.965-06:002011-03-26T20:25:45.965-06:00I should have added that SLV and GLD almost certai...I should have added that SLV and GLD almost certainly have physical, but, in my view, there are more claims on whatever amount of metal they have than they can possibly meet.Edwardohttps://www.blogger.com/profile/03613197383283896190noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-54768581508132172662011-03-26T20:23:03.843-06:002011-03-26T20:23:03.843-06:00The JPM fast track is reminiscent of the GS fast t...The JPM fast track is reminiscent of the GS fast track of several years ago that allowed The Vampire Squid to be transformed, virtually overnight, from an investment house to a commercial bank. Here in Freedom's Land, the rule of law is no where to be found where money and markets are concerned, and, of, course, in many other realms as well.Edwardohttps://www.blogger.com/profile/03613197383283896190noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-56343245272554103812011-03-26T15:20:22.862-06:002011-03-26T15:20:22.862-06:00Dave, always been a HUGE fan of your site and read...Dave, always been a HUGE fan of your site and read it every single day/post. Now this is yet another stunningly important post, but I have one question: expiring driver's license ?? come on.. seems a bit weak from your partner.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-44364564005124403242011-03-26T09:45:13.430-06:002011-03-26T09:45:13.430-06:00thanks Dave in Denver, you finally debunked the no...thanks Dave in Denver, you finally debunked the notion that people are being offered premiums to cash settle.Spicy Guacamolehttps://www.blogger.com/profile/01838769139269608716noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-87869500979776067072011-03-26T08:00:30.523-06:002011-03-26T08:00:30.523-06:00why the fuck would you use an INVALID drivers lice...why the fuck would you use an INVALID drivers license to redeem your trades. That speaks to a) incompetence, or just b) bullshit which tends to invalidate the credibility of this ENTIRE fucking article...wow...wtf?RedwoodTreehttps://www.blogger.com/profile/08685112340819999697noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-25776102184418519702011-03-25T23:03:42.810-06:002011-03-25T23:03:42.810-06:00re: HL. I don't know why it's lagging righ...re: HL. I don't know why it's lagging right now. Maybe they are looking at using stock to make an acquisition and the big players know that. Not really sure what the problem is. It's frustrating, that's for sure. It's definitely cheap just based on publicly available information.Dave in Denverhttps://www.blogger.com/profile/03016238915167131989noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-74193670713810697632011-03-25T23:01:51.697-06:002011-03-25T23:01:51.697-06:00Thanks GYC! It's getting uglier out there eve...Thanks GYC! It's getting uglier out there everydayDave in Denverhttps://www.blogger.com/profile/03016238915167131989noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-31042946640723576632011-03-25T20:12:36.867-06:002011-03-25T20:12:36.867-06:00Great post Dave, linkied to it tonight. Have a gr...Great post Dave, linkied to it tonight. Have a great weekend.EconomicDisconnecthttps://www.blogger.com/profile/02802078645713106743noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-77604748147042333502011-03-25T19:11:08.569-06:002011-03-25T19:11:08.569-06:00What are your thoughts on HL? I know you mentioned...What are your thoughts on HL? I know you mentioned you picked up some shares last week, but it seems like it is tremendously undervalued. It is trading at the same price as it did in 2008 when silver was $15. What gives?<br /><br />I hope its not like NEM, a total laggard. How can it also be so cheap when gold is at $1430? Is this a wall street ploy to keep mining stocks low?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-8299908325399230012011-03-25T17:36:08.154-06:002011-03-25T17:36:08.154-06:00The jig is up. There can be no doubt about it now....The jig is up. There can be no doubt about it now. It's THAT obvious.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-42804598832494483942011-03-25T16:04:39.777-06:002011-03-25T16:04:39.777-06:00so what is the likely outcome on the 31st, for the...so what is the likely outcome on the 31st, for the price of silver is JPM is unable to deliver. What would it cost them to cover?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-83543348768632827012011-03-25T13:55:06.979-06:002011-03-25T13:55:06.979-06:00I would say that JPM might be buying into PSLV, BU...I would say that JPM might be buying into PSLV, BUT the premium is so high because there is a short-squeeze going on from funds arbing out the PSLV premium vs. comex or SLV. Fidelity was offering 6% to borrow PSLV shares last week which indicates a short squeezeDave in Denverhttps://www.blogger.com/profile/03016238915167131989noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-79079660099893823622011-03-25T13:31:40.449-06:002011-03-25T13:31:40.449-06:00I have a pet theory that JPM has been buying a sig...I have a pet theory that JPM has been buying a significant interest in Sprott's PSLV fund and will redeem from PSLV as necessary to cover shortages in deliverable metal. This would help to explain the timing of the recent increase in the premium on PSLV. <br /><br />What say you?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-18694051303671203602011-03-25T12:05:19.893-06:002011-03-25T12:05:19.893-06:00well geez, the comex really has to a call a drive ...well geez, the comex really has to a call a drive thru manager from burger king, to help with them with their customer service. Sir, no fries until you get your drivers license renewed.Anonymousnoreply@blogger.com