Wednesday, June 15, 2011

Pilot fish mode

9:53 am (Hawaii) I get the feeling that one day, as I've read before, one of these puppeteers will tell us (or write a book) about how all this manipulation was strictly to keep price down and allow our debt collectors (China, etc) go scoop up cheap gold and silver at certain, appointed times in the market, morning, afternoon and night. The runs by naked shorts were just a way for CME/JP Morgan/etc to keep from losing money doing all these transactions and string-pulling practically 24 hours a day.

I don't consider myself a conspiracy theorist, but as a form of strategy, it would make sense for this to be in place to benefit these parties. It wouldn't really benefit us peons unless we timed the runs well, like J.S. Kim.

AGQ leveling off at 176 as the closing bell nears. AAPL back at 326+. The Dow regained some, rising from -195 points to -155. Now at -164 (-1.3%). Nas is -44 (-1.7%) and S&P is -20 (-1.6%).

Caved in and bought a handful plus of QSB Morgans off their Dutch Auction. Paid 97¢ over spot, 36.83, which is a $2 discount from the current regular price (38.90). I may regret later if and when spot drops below 35, 33, 30 ... but the stacking continues and I don't regret that. Still got an eye on the Apmex rounds on sale. That discount runs until tomorrow so I'll wait to see if spot price drops tonight.

Also got an eye on junk silver. I've been putting that off for a couple of weeks, waiting for a better price, but at roughly 60¢ over spot for Franklin half-dollars, it's a good deal price. Just tough to find AU Franklins or any other AU 90% silver coins cheap. After learning about how much damage the circulated pre-1965 silver coins have suffered, of course a coin dealer wouldn't pay anything near spot for them, so why should I pay spot for busted up coins either? Gotta be picky.

No comments: