Monday cinema & library (updated Tue 200 am HST)

Saw Moneyball last night. Great flick. Great minds coming up with a better way to succeed.

11:47 pm (Hawaii) Late start on today's cinema & library. Busy work day, busy other stuff day. Just busy. But I'm nowhere as busy as gold and silver spot prices, which are both ripping higher overseas. If you were brave and/or logical enough to grab a load of physical gold and silver last night when prices were slashed  to remarkable discount levels, a standing ovation to you. If you stepped into AGQ below 100, more power to you. At this rate, with spot silver at 33 now (it was 26 little more than 24 hours ago) and spot gold at 1675 (it was at 1520 or so about 24 hours ago), this is either a sign of the "normal" volatility to come... or the Great Takedown has finally ceased.

Was it enough for the puppeteers to empty out the last of their naked shorts in silver? Probably not, and that's not really a concern in this moment. All I need to know is how to deal with my modest position in DGP once premarket trading opens in about 2 hours. If the market rallies (I have no idea), my eyes will also be peering in on FAZ and FAS. As there were discount prices on gold and silver, there will again be low, low prices on FAZ soon enough. I plan to ride that express from 55 or 50 or 40 to 100, but I won't pretend to know when that particular train is leaving.

Golden pukefest?No anxiety for physical owners

Hi ho Silver! Already 30% above yesterday's low. 

Update 2:02 am AGQ at 130+ (+14.9%) and DGP at 55.84 (+7%) as premarket trading opens. AGQ was available yesterday below 100. In and out is the way for traders. Quick and efficient preserves capital. Or as Robert Nesta Marley once said, "He who fight and run away live to fight another day."

Blogs

Zero Hedge: Key precondition to second Greek bailout has failed (Sept 27)

Michael Snyder: Fed plans to identify 'key bloggers', monitor Facebook, Twitter (Sept 27)

Zero Hedge: Silver soars 26% in 26 hours (Sept 27)

Turd Ferguson: Looking for a bottom (white-out edition) (Sept 26)

> Charts Gold Dec 15-minute | Silver Dec 15-minute

Jeff Berwick: Gold and silver bubbles, panics and stink bids (Sept 26)
SGS: Long GLD calls (Sept 26)
Zero Hedge: Presenting the mother of all European bailout flowcharts (Sept 26)
Zero Hedge: Gold, silver recover as EU doubles down (Sept 26)
Zero Hedge: 'Anonymous' alleges Hong Kong's HK$8.5 billion Chaoda is next Sino Forest (Sept 26)
Peter Tchir: EU goes from monetary union to suicide pact (Sept 26)
Reggie Middleton: I suggest Groupon offer coupons to IPO investors (Sept 26)
Golden Truth: It's getting very ugly out 'there' (Sept 26)
Dan Norcini: Gold charts and some comments (Sept 26)
Realist News: High court in Germany says halt all EU bailouts - Unconstitutional (Sept 26)
Le Fly: Ice cold (remix version) (Sept 26)

Vlogs

BrotherJohnF: Silver Update - Hidden bottoms (Sept 26)
Keiser Report: Pax Americana pyramid nightmare (Sept 26)
MoneyBags73: So many more people would want to have gold if they understood (Sept 26)
MoneyBags73: IMF may need bailout to bail out Euro nations (Sept 26)
drutter: Vancouver physical silver inventory update (Sept 26)
King World News: Why central banks smashed gold, silver (Sept 26)
Four Horsemen Film: Fiat Money (Sept 22)

Mainstream

Reuters: World stocks rebound on Euro bailout hope (Sept 27)

Business Insider: Greek Fin Min: If Europe can't save Greece, it can't save itself (Sept 27)

Business Insider: Geither to ABC: (Europe) foreshadowing escalation (Sept 27)
Reuters: Some sectors of China's economy may crash: Marc Faber (Sept 27)
Jim Comiskey: Daily market insights - Metals futures (Sept 26)

(video) BBC: Alessio Rastani: 'Smart money knows stock market is finished' (Sept 26)

Weekend library (updated)

Tibetan Library

(video) Porter Stansberry: The end of America (Dec 14 2010)
Gold News: Fed lawyer Alvarez: 'The Fed Reserve does not own any gold at all' (June 2 2011)
(video) Federal Reserve does not own any gold (June 1 2011)
(video) Subcommittee hearing on Fed lending disclosure (June 1 2011)

Digtriad: Bank of America gets pad locked after homeowner forecloses on it (June 4 2011)

NY Times: Funny or Die: Groupon's fate hinges on words (May 29 2011)

Biotechstocktrader.com: Tibet Pharmaceuticals reports Q1 results (May 18 2011)

Turd Ferguson: Dollar index breaks 74, world yawns (June 3 2011)

Tom McClellan: Silver is tracing out 1980 post-bubble pattern (June 4 2011)

(video) Max Keiser: Guest J.S. Kim (June 4 2011)

(video) Peter Schiff: US economy heading for disaster (June 3 2011)

(video) bigdad06: Markets of fear (June 3 2011)

(video) Russia Times: Goldman Sachs ripped off Gaddafi? (June 4 2011)

(video) Max Keiser: Gaddafi's stolen billions (June 3 2011)

(video) WFMY News: Bank of America gets pad locked after home owner forecloses on it (June 4 2011)

(video) Brother John F: Silver Update Charts (June 3 2011)

(video) Max Keiser: Germany, China will be world's only superpowers (Nov 28 2010)

(audio) Mike Maloney: Interview on gold, silver (Oct 23 2008)

Gary North: Central banking: Success through failure (June 1 2011)

Gary North: Dow vs. Gold (Jan 10 2007)

eBay: 2010 P Yellowstone America The Beautiful 5 oz NP2: $358 (June 4 2011)

(video) Porter Stansberry: The Most Dangerous Organization in America Exposed

(video) The Secret of Oz (Oct 19 2010)

Jason Hommel: Basic info on silver (June 3 2011)

Business Standard: Silver falls in India 7.1% this week on weak demand (June 4 2011)

Business Insider: Comex registered silver bullion inventories fall 38.5% in 2 weeks (June 2 2011)

(audio) King World News: Weekly metals wrap (June 4 2011)

Dan Collins: Chinese silver investors bring suitcases of cash, leave in moving vans (Mar 8 2011)

Dan Collins: Rare earth stocks vanish in China, 'Wenzhou Stir-Fry' takes full effect (Mar 30 2011)

Dan Collins: How to profit from electric vehicles (Apr 13 2011)

Julian Phillips: The latest moves (gold becomes collateral in Europe) (June 3 2011)

James Turk: Metals will be hot this summer, gold to new highs (June 2 2011)

Reuters: China banks told to warn silver investors of trading risks (June 1 2011)

Federal Reserve: We do not own any gold.

This must be seen to be believed.

I'm a fan of James Altucher's blog, and in the past few years, despite all his self-criticism, he's been generally right about the market. I agree with him about America's knack for innovation, and that is and may always be what separates us from China, Japan and any other society. They say necessity is the MOTHER OF ALL INVENTION. Well, we're getting into the pit of desperate times, so let the innovation flow, brothers and sisters!

Turrbll Tuesday?

8:27 am (Hawaii) Got a good night's rest, woke up an hour ago to see Spot Silver trapped at 45. Makes sense, this being precious metals options expiration. A month ago, 45 seemed out of the stratosphere, but attainable. Well, 49 was penetrated, and this pullback to 44, and back up to 45 is within reason — all manipulations and agendas included.

From where, we have Bernankepalooza tomorrow. If all things remain status quo and the slightest hint of QE3 is uttered from Benjamin's lips, the bull stampede resumes. For now, I'm content to stay in 100% cash. Trying to time Spot Silver here is too much. I can see a small entry position at 44.50 or 43.50, but nothing more. This could dip to 40 in minutes. Then Spot becomes very buyable; global demand won't allow a drop below 40. I'd put chances of a bounce there at 99%.

Meanwhile, gold miners are spiking. XG (+6.8% to 9.41) and NGD (+2.4% to 10.74) are among the big gainers on my watch list. On the other hand, silver miners are eating dirt. EXK is down 5.4% (10.72), SLW (not a miner, but trades with them) is down 4.5% (39.17). PHS, PAAS and PSLV are all down substantially.

Crude oil? UCO is up fractionally, but WNR is down 4.3% (17.88).

Other news include Facebook getting more into coupon/deal service to challenge Groupon. IPOs in Groupon and Facebook are going to be massive one day.