I didn't have time to dig into it until now. There was a 82 Mill oz gold being bought at around noon. This volume happened within 15 minutes. We are talking about $107,830 Million (82M x $1315)
Tell me this: who had $107.8 Billion?
The latest report showed that the US has the highest level of inflation in years. Oil and gold are climbing higher when chaos is happening in Iraq and the middle east.
Keep eyes on silver as well.
Here at ANV, we have about 40% short interest. Imagine that? It will be nice when big players are interested in short squeeze play.
Be patient. NUGT continues to climb higher. Shall we be found? I think we will be.
US will announce air support to Iraq this weekend. Gold will increase about 2-5% when the reporters get image and video clips at the oil fields being damaged.
Please help me find the most discount miner stock. I will buy you a case beer sending your address if you can find a stock that is considered being cheaper than ANV.
Something is cooking. I hope this is a spicy chicken rice soup. It is my favorite soup. I am sure shorts won't like it when Sycamor announces buying ARO in the AM at $400M
We should see 49% pop.
Watch long term bond as well. It climbed 2% this week. Market is over head itself. Safe heaven gold and silver will be the place to hold assets.
Will see how things go with Iraq mess? If the US/Obama announces air support to the Iraqis army. We will see gold moving another 3-5%.
I told you that MMs see what you do. Stop loss feature never serve good purpose for me. As they see you set stop loss. They took it down and take all of your share, then brought it back. And please don't let MMs steal your shares again.
The weather does not look good for UGAZ. I think it is collection time. If you are planning for winter.
I just read it. Wow! They will try to hold it down. But it's matter of time. Can't wait to see the action.
Here is the summary:
The hedge fund gross short position in Comex silver futures is at a record high.
Hedge funds are net short a record amount of silver futures.
Producer/Merchants hedging is near a record low.
Backwardation in silver futures has been observed in China.
An interesting and rare set-up has developed in the Comex silver futures Commitment of Traders weekly position report (COT report). This is a report issued by the CFTC (Commodity Futures Trading Commission) which shows the long/short futures positions for various categories of traders. The position report issued last Friday for Comex silver futures traders shows extreme positioning for both the "commercial" and "managed money" segments. In addition, there are signs of possible supply/demand stress for physical silver in China. As I will detail below, both indicators are indicative of a possible short squeeze developing in silver.
First, I suggested in some previous articles on Seeking Alpha that the low-close last June was a defined bottom for silver. As you can see from this chart, silver has trended quietly higher off its June 26, 2013 low-close of $1853:
At GDP -1% in Q2 2014 from +4.1% in Q4 2013. That was -5.1% haircut. If you look at the market carefully, the indices can't move higher from here because it failed fundamentally. The economy can't support the market. The last time we see this kind of deep haircut in GPD that was the pre-Leman Brother crisis. So, where else people are holding their assets if not in stocks?
I believe there are 3 options: Cash, bond or gold.
1) Cash will generate no profit. In fact it would lose about 2-3% YOY.
2) Bond : Yes. Maybe. But if you are in bond. Short term bonds give you nothing. Long term bonds are locked you in for 5-10 yrs. That may not be something people want to do.
3) Lastly, it is yellow metal. This is the most likely option that people will go with. Why? Do your research.
NUGT and USLV are moving as you can see. Gold is moving higher. No question. Look at this as you are heating metal vs heating water. Metal gets hot quicker but cool faster as well. On the other hand, water takes longer to warm up, but when water get hot, it is hard to cool it down.
Per today report, one thing was very cleared to all of us. The Fed admitted inflation is climbing to highest level in years and that confirmed.
"... Of course we all know that the United States is the biggest debtor in the world, with over half the debt held by foreigners. My argument is that the emperor has no clothes this time. So the markets are incredibly vulnerable to these types of problems.
We know that quantitative easing has caused the financial markets to be on steroids. But the problem is the double-digit PE multiples on a go-forward basis. Then yesterday Janet Yellen talked about tapering another $10 billion, but that’s just a drop in the bucket. The Fed’s balance sheet has quintupled and the money supply has increased by four times.
The problem with the Fed’s so-called exit is that it has a balance sheet that is choking on debt, so who are they going to sell to? Who will buy the questionable debt from the Fed so it can normalize its balance sheet? This means the U.S. dollar only has one way to go and that is down. People are moving out of dollars, such as the Russians, and they are buying gold. As you know, Eric, the Chinese are the largest holders of U.S. Treasuries, but what have they been doing? They have been buying large amounts of physical gold.
So not only is the rally in gold that we are seeing way overdue, but there are a lot of shorts in this market that will create a real scramble. We have already broken above the 200-day moving average. My sense is that between $1,330 and $1,360 there is a little bit of resistance. But after that there are some big vacuums higher in terms of the price and it wouldn’t surprise to see $100 to $200 up-days for gold. This leg of the bull market has just begun and the mining stocks seem to be the best bet. You get a multiplier of 2 to 1. We saw that unfortunately on the downside. Now we are going to see it on the upside.”
Keep adding shares at the bid price. Let's see how many shares being available we can get out of shorts?
per yesterday data, inflation is now one of the greatest concern for the US economy.
Bob Doll, the reliably bullish chief equity strategist at Nuveen Asset Management, stated that
monetary policy any time soon, but the Fed may be underestimating the strength of the economy, the pace of jobs growth and, most critically, the possibility of higher inflation."