Hugo is picking up his marbles and going home.

[DJofSD]

Or, should I say his country's gold bullion. Various holding sites have been told the gold for Venezuela is to be transferred to vaults in banks in his country.

I guess he does not trust the Bank of England, JP Morgan, Barclays, or the Bank Of Nova Scotia.

[TJDave]

I hear cancer treatments can be expensive. ;)

[canleakid]

Hugo is afraid his a$$, ERRR assets might get frozen :lol:

[plainolebill]

I've read that JP Morgan may not have the gold available to ship. It would be a shame if they get caught short. :lol:

[lamboguy]

JP MORGAN is in trouble with the rest of those bankers.

[Valuist]

Maybe his buddy Sean Penn can explain.

[sammy the sage]

JP MORGAN is in trouble with the rest of those bankers.

I'm hoping/praying they GO DOWN...Silver will then make gold look like a kid's game w/roi% on your investment...actually it ALREADY has...and WILL continue to do so...

[lamboguy]

JP MORGAN are the big boys behind the supresison of price in the silver market.. WHEN they lose complete control of that market look out.

no one is talking about it, silver went up more than gold this week. it went up $3.74 for the week and gold only went up $110. silver will be back to $50 and beyond real soon. even after the 7 margin requirement increases that more than likely JP MOORGAN was behind. the comex can't even raised them now on silver because supposedly they have a $50 price built in. when silver busts through the $50 all hell will let loose. i predict that the sharks are going to start asking for delivery at some point. if comex tries to feed them paper silver instead of the real bars you watch what goes on.

[DJofSD]

I'm looking for another buying opportunity in SLV. SLV closed on Friday @ $41.68 and I expect it will retest the recent highes then find some reason the fall back into the mid $30's.

[lamboguy]

I'm looking for another buying opportunity in SLV. SLV closed on Friday @ $41.68 and I expect it will retest the recent highes then find some reason the fall back into the mid $30's.
that is a great plan, but i see no reason why silver doesn't go straight to $50 within a month. if you are convinced that silver is heading down now, i would buy silver and short the gold and play a ratio trade where it will make it to under 40-1. and then go long silver if it indeed hits your target price

[DJofSD]

Too sophisticated for me to follow that strategy.

I just got out of SLV on Friday and will re-enter at some point in the future. If it takes a couple of months for it to peak then drop, that's OK. In the meantime, I just learned a new chartist technique and will likely be apply it (entering the market) next week if my gut is correct.

I guess in a sense I am play to market volitility and/or uncertainty.

P.S. Yes, the ratios between gold and silver is what I am paying attention to. Yes, my long term expectation is those ratios will hold true and silver will be much higher down the road.