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Rubicon Minerals Corporation Or Message Board

  • pioneerrubi pioneerrubi Feb 16, 2013 11:16 AM Flag

    From H.O. This morning

    "Friday's selling was well orchestrated and hopefully we had capitulation. The bankers have sold enough paper shorts to get the main stream media to state that the gold/silver bull run is over. This has brought on the large specs to play along with the bankers and go short e.g. Dennis Gartman. (see the COT report below)

    The rigging started in earnest when the CME lowered the margin requirements. This brought in more weaker longs into gold and silver. Then the constant raids brought main stream media to report the end of the gold/silver bull. Dennis Gartman who always gets the sell side right but never the buy side, announced that he was going short in gold. Today the selling reached a climax with gold at one point gold breaching the 1600 dollar barrier. Silver on the other hand breached 30.00 and stayed below that level for the rest of the day. However, when you have massive selling of paper silver and gold, you generally see liquidation of the paper contracts (OI). You will see below that in gold we had only a minor contraction. In silver strangely the CME reported a gain of 1417 contracts up to 154,364. We are now at a two year record high in silver OI with a lower price in silver ($29.86 today vs $49.00 in April 2011), In gold, the bankers are getting their way as the OI has fallen to 442,000 contracts. Earlier this year it hit its low point just below 400,000. In June 2010, it hit it's all time high of 603,000 contracts. The problem this time for the bankers is that the silver OI is ramping higher while the OI in gold is being crushed. Why? it seems that physical silver is becoming scarce and producers are hoarding the metal (see below). The bankers do not like what they see with silver as every raid at these low prices brings on more longs and they seem to represent strong hands. If the OI on Monday is again higher, our banker friends might as well throw in the towel as nothing can help them. The massive not for profit selling of non backed silver paper at lower prices is futile. The bankers are having trouble removing their huge shorts in silver as our resolute silver holders, instead of pitching their contracts with the onset of a raid, buy more......

    The total silver comex OI surprised everyone as it rose by 1417 contracts, from 152,947 down to 154,364. With silver falling badly these past couple of days, one would have thought that liquidation was the order of the day. I guess not. The non active February contract month saw it's OI rise by 15 contracts up to 79. We had 51 delivery notices filed on Thursday so we again gained 66 contracts or an additional 330,000 oz of silver will stand in February. The big March delivery month is less than 2 weeks away. Here the OI only fell by 1756 contracts from 53,277 down to 51,992. It looks to me like many OI holders in the March contract will not budge as they refuse so far to roll. They seem to be not intimidated by the antics of the bankers. The estimated volume on Friday was huge at 84,429. The confirmed volume on Thursday was large but not as big as Friday coming in at 57,748.....

    Thus the total number of silver ounces standing for delivery in silver is as follows:

    1,590,000 oz (served) + 65,000 oz (to be served upon) = 1,655,000 oz

    We gained 330,000 oz of silver standing for February.

    As I promised you, the total silver ounces that are standing for February is advancing.

    ....from an Apple contractor who claimed that Apple has delayed production on the new 27″ iMacs due to an industrial silver shortage in China.... of the largest and most famous German automakers is hoarding massive amounts of physical silver inside one of the most secure vaults in Zurich, Switzerland.
    Financial writer Byron King, who viewed the massive German automaker’s silver hoard in Zurich stated:
    Why does the German company store dozens of pallets of silver in a secure vault deep in the mountains of Switzerland? It’s simple, really. So that the metal is there when the car maker needs it. As one purchasing manager explained later in my travels, “For some metals, like silver, there’s no such thing as ‘just in time’ delivery anymore.”
    In other words, this German company buys silver when it’s available. In fact, the company buys as much as it can acquire. Then it stores and stockpiles the material in a vault in the mountains of Switzerland"

    Sentiment: Strong Buy

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