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Charmin

Monthly Digger - May 2011

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Where I work we have a department devoted to energy conservation and various other incentive programs for electric members to try and cut their energy consumption. The state mandates the utility provide such programs, so the department would always require some funding. Everything is green and everything is great when they want you to cut the carbon footprint.

 

It's all really a delusion, that's why a few of us joke about the Energy Delusions Dept.

 

Everything is green when the powers to be decide to spread their currency around. It's all really a delusion. You might even consider it to be a psychological diversion.

 

UGL is a good looking chart that rides the price of gold. It seems a few of the PM stocks are under-performing the metal this year. Silver has been amazing.

http://www.StockSharePublishing.com/ChartLib/UGL_04_29_21_54_1304128466.png

 

Others that appear to be riding up with gold:

GG

HMY

RGLD

RIC

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The delusion is breaking down:

 

"Had the worldwide silver scam remained a secret, suppression of precious metals prices might have gone on forever. But the genie is now out of the bottle and mortal men, not even those who run casino-banks, cannot hope to put him back in. Once it became clear that the bullion banks were leveraged 100 to 1 in a silver based fractional banking scheme, it was only a matter of time before the market clobbered them. That is what is happening." http://seekingalpha.com/article/265381-short-sellers-now-screaming-about-a-buy-side-silver-conspiracy

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Monday morning here in Australia, silver down a whopping $4 (just under $44)

Anyone brave enough to trade this?

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Sold some silver coins and bars that I've had for 10 to 20 years today.

 

Don't know if this is a top or not, do know I got 10 times what I paid for the silver bars in 2000.

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Monday morning here in Australia, silver down a whopping $4 (just under $44)

Anyone brave enough to trade this?

 

I have HL in a core and trade a % of it, so I put in a limit sell last night because I thought it would gap down this morning and it did but the retrace I missed by a penny. Oh well, still have it as a 30 day trade.

 

Not to excited about movement either way here because of having 20% cash. Rather wait this thing out until August and waiting to see if it's 'sell in May and go away' as the manipulators might try to take advantage of selling and drive it down further.

 

Sector goes up, I have cores, down and I have cash for bargains.

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Jason Hommel, the silver trader, said "April was crazy. We had 2-3 people in the shop nearly non stop all month long. A few days, I never had a chance to eat lunch. I'm sorry I've not had time to write. I've been exhausted, and stressed."

 

I wonder if the pigmen will stress everyone out on the price.

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Well guess getting out of AGQ early wasn't so bad. Got on 10% margin with GDXJ but looking like there may be some short term pain. Finger on the sell button. Need turn around by next week

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i prefer it when there is no margin. it gets rid of the weak hands. it will come , but not for awhile

1495-1513 is support. dont know if they break that or not. we are close to the bottom here.

miners gave a hint of that yesterday.

i dont think the leg to the upside is finished yet. this is just another garden variety shakeout, imho.

dharma

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Anyone still follow Aberdeen? AAB.TO.

 

Still feel this is v.cheap here.Portfolio update is next week I believe

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Anyone still follow Aberdeen? AAB.TO.

 

Still feel this is v.cheap here.Portfolio update is next week I believe

yes i own a bunch . it seems really cheap to me!?

dharma

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This is going according to plan. As Sinclair has said numerous times the big money will ultimately push these pm markets to unseen heights. This collapse in Silver should turn off the general public to investing in the precious metals for a long time.

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Technical damage has occurred in spots and most all shares. Only an immediate retrace would cure it. That's not likely. More likely is sideways action for a couple of months. Worse case, down further.

 

Only my small position in Yukon-Nevada Gold Corp was up today, should be taken out back and shot tomorrow to confirm a rest period for this sector action. Will be interesting in the coming trading days to see if a bounce from here then back down to retest, forms a 'W' pattern or if a waterfall develops.

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You know who is really really good is Martin Armstrong. He would prefer to see a low this June. A low in this sector would aline with his Confidence Model Chart at an important turn date, that type of convergence would signal a bull gold move until 2015/16. Waiting to see if a low happens now (this June) or comes later on.

 

Sitting on some cash because I didn't think my shares were about to take off. In fact in one out of two trading account I took the mid-tier holdings to zero i.e. NG, NGD, HL end of last month. Cores left in the other account.

 

Mining shares never really did react to highs in gold or silver this time around.

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here is the armstrong piece whadda is referring to

http://www.martinarmstrong.org/files/how%20and%20when%2003-01-2011.pdf

it sure smelled of forced liquidation today, someone/hedgie bit the bullet.

there was capitulation today. is it over? i dont know but 1460 was good support. @the least we get a good retracement, @best the upside is not finished yet. there is lots of time between now and june. and marty is not always correct. sinclair had a good piece about that today.

me, i am assuming the top is not in, this was another shakeout. w/some fund biting the dust

dharma

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