smart-money-report.com Blog

I like this quote from Jim Sinclair:

The greatest technical analysis trick is simple to learn. Whatever your emotions say to you is totally wrong. Whenever you want to margin to the rafters it is time to eliminate debt.

Richard Russell thinks that the low for gold was made on May 1st. He may be right and he may be wrong. The thing is that he’s Richard Russell. What he says merits attention. He’s earned it.

Brad Ziglar on the upcoming GLD and SLV options and the current precious metal  and commodity options that are available.

Ted Butler on yesterday’s silver selloff.

Ken Gerbino on five things you should always keep in mind about gold stocks.

Michael Steinhardt on the risks of investing in China.

John Hussman on what it means that oil futures are now in contango.

Silver coins may be an expensive way to own silver these days. From Tom Iacono:

The government rationed food during World War II and gasoline in the 1970s. Now, it’s imposing quotas on another precious commodity: 2008 dollar coins known as silver eagles.

The coins, each containing about an ounce of silver, have become so popular among investors seeking alternatives to stocks and real estate that the U.S. Mint can’t make them fast enough. In March, the mint stopped taking orders for the bullion coins. Late last month, it began limiting how many coins its 13 authorized buyers world-wide are allowed to purchase.

“This came out of nowhere,” says Mark Oliari, owner of Coins ‘N Things Inc. in Bridgewater, Mass., one of the biggest buyers of silver eagles. With customers demanding twice as many as they did last year, Mr. Oliari would like to buy 500,000 a week. But the mint will sell him only around 100,000.

The coins have a face value of $1. But the mint sells them for the going price of silver, plus a small premium, to a handful of wholesalers, brokerage companies, precious-metals firms, coin dealers and banks. The dealers mark the coins up a bit more and sell them to the public. Currently, the coins are fetching about $19 apiece, with some sellers seeking more than $20.

From Lance Lewis.

Scott Burns on who pays income taxes and how much.