Todays silver COT report

[jim4silver]

Today's silver COT report

The Commercials are now more bullish than they have been since this bull market began.

It is only a matter of time before gold and silver take off again. They may only let silver go up to $35 before they smack it down again, or may let it go to $50 and beyond? But by their long positioning over the past several weeks it is clear the "smart" money thinks PMs are going up.

COT Silver, Gold and US Dollar Report - June 14, 2013 | SilverSeek.com

Just my opinion.

Jim

 

[Marchas45]

Well Jim your opinion is the same as mine, I seen that earlier, they have been selling shorts left and right. Lol Keep Stacking.

P.S. Been looking all over the place for a deal on a 1oz gold eagle, can't find one. Ok Pirate help a brother out. Ha! Ha!

Well I just bought (40) 1oz SilverTowne Prospector bars, cheapest I could find. $25.30 so the premiums are still going on.

 

[skeeterd]

I wanna see TreasurePirate's take on this.

 

[jim4silver]

I wanna see TreasurePirate's take on this.

I heard that TreasurePirate was rescued by a team of PM bulls who freed him from the cult that abducted him a while back and twisted his mind with visions of PMs crashing and fiat becoming healthy again. Although he initially resisted this rescue and re-education, he has supposedly made great progress and was seen buying some silver at his local coin store and looking happy about it.

We will have to wait for further updates.

Jim

 

[skeeterd]

I heard that TreasurePirate was rescued by a team of PM bulls who freed him from the cult that abducted him a while back and twisted his mind with visions of PMs crashing and fiat becoming healthy again. Although he initially resisted this rescue and re-education, he has supposedly made great progress and was seen buying some silver at his local coin store and looking happy about it.

We will have to wait for further updates.

Jim

Haha! I hope we hear from him. The debates you guys have are entertaining and informative. And thats rare to find on an internet forum!

 

[lost]

TreasurePirate was last seen in my local 7-11, along with President Obama buying a carton of Marlboro's. Behind them was Hillary with her arms loaded with Purple Lable Wipe Out Wine. The only part of the conversation I picked up was how much fun they were going to have on the upcoming $100 Million Dollar African trip. I'll post if I have anything else.

 

[Marchas45]

Ha! Ha! Ha! Where are you Pirate? Good ones Jim and Lost.

 

[jim4silver]

I wanna see TreasurePirate's take on this.

It seems we have a new TreasurePirate update. Apparently, yesterday's big PM sell off had a negative effect on TreasurePirate's recent rescue and re-eduction from his former PM bear cult.

Someone at the PM bull center had mentioned silver's sell off, and this was heard by TreasurePirate, who then went berzerk and managed to escape from his temporary enclosure at the PM bull center. He was later found running away from the center in his boxer shorts and wearing a T shirt that was emblazoned with TreasureNet logos and muttering something like "I am Darth Vader" and "the dark side will win".

The workers at the PM bull center were surprised by his actions because he as seen earlier in the day fondling some new ASEs and "he looked really happy about owning them", according to one PM bull worker.

Seems that TreasurePirate will have to be "medicated" for a while until silver closes back over $22.

Jim

 

[FreedomUIC]

Down over $1.50 as of 1:40 this afternoon.
Can't wait to see if it hits single digits.........

 

[jim4silver]

Down over $1.50 as of 1:40 this afternoon.
Can't wait to see if it hits single digits.........

That happens right before it gets to the point where they will actually pay you to take the silver off their hands. Can't wait for that day.

Jim

 

[Marchas45]

If it could only be Jim, if it could only be. If it happens I'll be there with every fiat dollar I can muster.

 

[FreedomUIC]

If it could only be Jim, if it could only be. If it happens I'll be there with every fiat dollar I can muster.

That is what I was referring to.........

 

[TreasurePirate69]

Hey guys. Glad to see you are busy rewriting my life story. I've been terribly busy with work, vacations, kids, and everything else life throws at us. I just wanted to stop in and say hi. I don't have much to say about the current silver situation. I'm as shocked as everyone else. I figured we'd take at least another year to get below $20. I may have to revise my estimate down a bit. I've been saying that we'd hit $16 silver and $900 gold in the next two years. I think we have a way to go with gold yet and I think my gold prediction may still be on track. But silver might hit $16 in the next 12 months. If it does I'm not sure how low to expect it to go.

Well... gotta run! With the economy "booming" we have been swamped at worked with new contracts. Businesses are spending money again. The fear is subsiding which is evident by today's big drop.

 

[TreasurePirate69]

PS - I might take a gamble on some SLV in the morning to try and take advantage of the 3% correction that we might see tomorrow. I'll let you know if I do and how I make out.

 

[jim4silver]

PS - I might take a gamble on some SLV in the morning to try and take advantage of the 3% correction that we might see tomorrow. I'll let you know if I do and how I make out.

Great to see you back! Looks like the rescue and re-education is working, you are gonna buy some SLV!!

We might touch a bit lower in PMs in the near term, but it isn't going to stay for long I believe. Even the sheep are starting to see that the only reason the stock market is up is because of QE 1, 2, 3, ?, ?... Just look the Fed hints it might taper someday (not stop but only taper QE) and we lose over 500 points in 2 days. An economy and stock market need more than QE's et infinity to run on.

I have read the notion that the QE money so far has not been circulating per se but on bank books, etc. , but that it will eventually have to be released into the system and that will be inflationary. That is in addition to anything new that they have to do later to keep the illusion of recovery going (QE 6, 7. etc.). If they do nothing, we will go into a depression I know that is true, which in reality is probably the healthiest thing long term, but the masses would not stand for it due to the pain it would cause, so the politicians ( and Fed) won't let it happen. There is no other way to make things work now than to inflate (keep creating massive debt and printing). But one day that will fail and there will be that super depression, maybe 5 years away or maybe 25, I have no clue. As Uncle Charlie would say (Marchas) KEEP STACKING!

Just my opinion.

Jim

 

[billjustbill]

Saw another website's reader comment: He lives in Las Vegas. He said that he went out looking to buy physical gold. He said he found 3 businesses and 2 private sellers and every one wanted nothing less that "$2,000" for a 1 ounce gold coin....

I think you're right about how metals will rise. I'm just worried: Is the rise going to be based in today's dollars or in the "after the dollar crash" dollars?