Archive for the ‘Immediately available to public’ Category

COMEX Registered Silver Now More Leveraged Than Gold

Courtesy of ZeroHedge. View original post here.

SRSrocco Report

By the SRSrocco Report,

While the world deals with the ramifications of BREXIT leave vote, the COMEX Registered Silver Inventories reached a new record as it pertains to leverage.  Matter-a-fact, the number of owners per ounce of Registered Silver is higher than gold.  In the beginning of the year, COMEX Gold Registered inventory owners per ounce spiked to over 500 to 1.

However, the situation for COMEX Registered Gold has calmed down quite a bit as its inventories have risen to 1.7 million oz (Moz) from the low of a 89,000 oz in a little more than six months:

COMEX Regisitered Gold Owners Per Oz

Registered Gold owners per ounce have fallen from over 500/1, to 33/1 currently.  On the other hand, the situation in COMEX Registered Silver shows a much different picture:

COMEX Registered Silver Owners Per Oz

While owners per oz of Registered Gold have dropped dramatically, Registered Silver Inventories have hit a new record of 44 owners per ounce.  This is nearly three times the rise since the latter part of 2015.

So, why have Registered Silver Inventories continued to decline, while Registered Gold Inventories move significantly higher??  What is even more interesting is that when the price of silver increased from its lows in 2009 to a high of $49 in 2011, the Registered Silver Inventories fell to a low of 26.4 Moz.

Speculation was at the time that industry and investors were acquiring at lot of silver, thus depleting the Registered Silver stocks.  However, something is totally different this time around.  As we can see in the chart above, the Registered Silver Inventories are at the lowest level in more than a decade at 23.3 Moz… but the price is only at $17.

This next chart compares the Registered Silver Inventories during the peak price in 2011 and today:

Leverage of Comex Registered Silver

In April 2011, total Registered Silver Inventories fell to a low of 26.4 Moz as total open interest was approximately 750 Moz.  To get the total open interest in ounces, we multiply the open interest by 5,000 oz (a single contract equals 5,000 oz).  Now, if we look at what is taking place today, the leverage is even higher.

With the Registered Silver Inventories at 23.3 Moz, the total open interest is a staggering 1,028 Moz.  This is why the Owners Per


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Stockman: “At Last The Tyranny Of The Global Financial Elite Has Been Slammed”

Courtesy of ZeroHedge. View original post here.

Submitted by David Stockman of ContraCorner

Bravo Brexit!

At long last the tyranny of the global financial elite has been slammed good and hard. You can count on them to attempt another central bank based shock and awe campaign to halt and reverse the current sell-off, but it won’t be credible, sustainable or maybe even possible.

The central bankers and their compatriots at the EU, IMF, White House/Treasury, OECD, G-7 and the rest of the Bubble Finance apparatus have well and truly over-played their hand. They have created a tissue of financial lies; an affront to the very laws of markets, sound money and capitalist prosperity.

After all, what predicate of sober economics could possibly justify $10 trillion of sovereign debt trading at negative yields?

Or a stock market trading at 24X reported earnings in the face of a faltering global economy and a tepid domestic US business cycle expansion which at 84 months is already long in the tooth and showing signs of recession everywhere?

And that’s to say nothing of the endless ranks of insanely over-valued “story” stocks like Valeant was and the megalomaniacal visions of Elon Musk still are.

So there will be payback, clawback and traumatic deflation of the bubbles. Plenty of it, as far as the eye can see.

On the immediate matter of Brexit, the British people have rejected the arrogant rule of the EU superstate and the tyranny of its unelected courts, commissions and bureaucratic overlords.

As Donald Trump was quick to point out, they have taken back their country. He urges that Americans do the same, and he might just persuade them.

But whether Trumpism captures the White House or not, it is virtually certain that Brexit is a contagious political disease. In response to today’s history-shaking event, determined campaigns for Frexit, Spexit, NExit, Grexit, Italxit, Hungexit and more centrifugal political emissions will next follow.

Smaller government—–at least in geography—–is being given another chance. And that’s a very good thing because more localized democracy everywhere and always is inimical to the rule of centralized financial elites.

The combustible material for more referendums and defections from the EU is certainly available in surging populist parties of both the left and the right throughout the continent. In fact, the next hammer blow to the Brussels/German dictatorship will surely happen in Spain’s general election do-over on Sunday (the December elections resulted in paralysis and


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George Soros: “Brexit Makes EU Disintegration Irreversible”

Courtesy of ZeroHedge. View original post here.

Just four days ago, the “big guns” when George Soros wrote a Guardian op-ed titled  “The Brexit crash will make all of you poorer – be warned” in which he said that “as opinion polls on the referendum result fluctuate, I want to offer a clear set of facts, based on my six decades of experience in financial markets, to help voters understand the very real consequences of a vote to leave the EU.” We promptly countered that Soros’ set of “facts” may be clouded by his far greater equity stake in interests around Europe, and the globe, which would be drastically impacted by not only a Brexit, but by a European Union which is suddenly on the rocks.  That’s precisely what happened when, as we wrote earlier, the world’s 400 richest people lost $127.4 billion Friday following the Brexit vote.

Soros was among them.

However, seemingly unhappy that his generously altruistic warning was so roundly ignored by the peasants, not to mention his sudden concern about the future of the European Union whose collapse would also destroy the premise behind Soros’ Open Society globalization initiative, the 85-year-old billionaire has decided to follow up with a case of sour grapes and go all in, making another forecast – since his first one was so clearly rejected – and in what may end up roiling markets even more, moments ago Soros said in his second op-ed of the week that the “catastrophic scenario that many feared has materialized, making the disintegration of the EU practically irreversible. Britain eventually may or may not be relatively better off than other countries by leaving the EU, but its economy and people stand to suffer significantly in the short to medium term. The pound plunged to its lowest level in more than three decades immediately after the vote, and financial markets worldwide are likely to remain in turmoil as the long, complicated process of political and economic divorce from the EU is negotiated. The consequences for the real economy will be comparable only to the financial crisis of 2007-2008.”

But while Soros is lukewarm on the UK, his forecast about Europe is far more dire.

But the implications for Europe could be far worse. Tensions among member states have reached a breaking point, not only over refugees, but


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“Brexit Is A Bear Stearns Moment, Not A Lehman Moment”

Courtesy of ZeroHedge. View original post here.

By Epsilon Theory’s Ben Hunt of Salient Partners

Waiting for Humpty Dumpty  June 24, 2016

Humpty Dumpty sat on a wall,
Humpty Dumpty had a great fall.
All the king’s horses and all the king’s men
Couldn’t put Humpty together again.

Brexit is a Bear Stearns moment, not a Lehman moment. That’s not to diminish what’s happening (markets felt like death in March, 2008), but this isn’t the event to make you run for the hills. Why not? Because it doesn’t directly crater the global currency system. It’s not too big of a shock for the central banks to control. It’s not a Humpty Dumpty event, where all the Fed’s horses and all the Fed’s men can’t glue the eggshell back together. But it is an event that forces investors to wake up and prepare their portfolios for the very real systemic risks ahead.

There are two market risks associated with Brexit, just as there were two market risks associated with Bear Stearns.

In the short term, the risk is a liquidity shock, or what’s more commonly called a Flash Crash. That could happen today, or it could happen next week if some hedge fund or shadow banking counterparty got totally wrong-footed on this trade and — like Bear Stearns — is taken out into the street and shot in the head.

In the long term, the risk is an acceleration of a Eurozone break-up, which is indeed a Lehman moment (literally, as banks like Deutsche Bank will become both insolvent and illiquid). There are two paths for this. Either you get a bad election/referendum in France (a 2017 event) or you get a currency float in China (an anytime event). Brexit just increased the likelihood of these Humpty Dumpty events by a non-trivial degree.

What’s next? From a game theory perspective, the EU and ECB need to crush the UK. It’s like the Greek debt negotiations … it was never about Greece, it was always about sending a signal that dissent and departure will not be tolerated to the countries that matter to the survival of the Eurozone (France, Italy, maybe Spain). Now they (and by “they” I mean the status quo politicians throughout the EU, not just Germany) are going to send that same signal


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The $555 Trillion Derivatives Debt Implosion Is About to Begin

Courtesy of ZeroHedge. View original post here.

The next crisis is here.

The BREXIT or British exit from the EU is this crisis’ Bear Stearns: an unexpected situation that Central Banks will go all out to sweep under the rug.

Whether or not they will succeed remains to be seen. But what has started cannot be undone.

For seven years, the Central Banks have maintained the illusion that all is well. Meanwhile, global leverage has exploded to record highs, with the bond bubble now a staggering $100 trillion in size.

To top it off, over $10 trillion of this is sporting negative yields in nominal terms. Indeed, globally bond yields are at levels not seen since the BRONZE AGE.

The Brexit is just the first jolt to this house of cards. It won’t be the last. Spain, Italy and other EU problem countries will soon be lining up to renegotiate their debt levels with the EU.

At that point it’s GAME OVER.

Globally over $500 trillion in derivatives trade based on bond yields.

This is why EVERY move the Central Banks have made post-2009 has been aimed at avoiding debt restructuring or defaults in the bond markets. Why does Greece, a country that represents less than 2% of EU GDP, continue to receive bailouts instead of just defaulting?

DERIVATIVES.

Now that the BREXIT has happened, the restructurings will begin. Previously, the EU could always threaten the perceived financial Armageddon of leaving the EU to problem countries that wanted debt forgiveness.

Not anymore. Britain left the EU and Armageddon didn’t hit. So Spain, Italy and other nations will start threatening to leave if they don’t get debt forgiveness or a restructuring.

The derivatives markets smell this. This is why Deutsche Bank (DB) which sits on the largest derivatives book in the world, is on the verge of taking out a 20 year Head and Shoulders pattern.

This is also why financials in general (the firms sitting on large derivatives books), have taken out their post-2009 bull market trendline.

Again, the next crisis is here. The time to start preparing is now. The BREXIT was this crisis’ Bear Stearns. You don’t want to wit until the “Lehman” moment to prepare.

If you’ve yet to take action to prepare yourself and your portfolio for the next round of the Crisis, we just published a 21-page


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Calls For Texas Independence Surge After Brexit Vote

Courtesy of ZeroHedge. View original post here.

As expected, it didn’t take long after the final Brexit results for demands for referenda to be put forth by the Netherlands, France, Italy and Scotland. While it’s easy for Americans to fall into the “it can never happen here” mentality, The Mises Institute put forth a thought experiment that dispelled the notion that even if some states in the US wanted to become independent they would be too small to go it alone.

As a reminder, here is how some of the US states look when comparing state GDP to the GDP of other countries around the world. It’s evident from this chart that the idea that some states would be too small to exist on their own isn’t valid.

Here is another way to look at things, labeling each state to the foreign country whose GDP it matches.

The article points out that some states would be among the largest economies in the world if they were to leave the US.

Moreover, few Americans appreciate how enormous some American states are, especially the largest four states: California, Texas, New York, and Florida.

In terms of both population and GDP, California is about equal to Canada — and with much better weather. Texas is equal in economy and population size to Australia. Pennsylvania’s economy is similar in size to Switzerland.

While secession of American states is often dismissed as absurd, there are few reasons to believe that a state like Texas – to name just one example – could not immediately transition from state to nation-state. With a large economy, port cities, oil, and easy access to European, Latin American, and even Asian economies by sea, economics arguments against such a separation fall flat. And of course, the success of smaller states like Norway, Denmark, and Switzerland illustrate that bigness is truly unnecessary. Naturally, many other states even beyond the biggest states — such as Pennsylvania, New Jersey, North Carolina and others — could do the same. These states would all be among the largest economies on earth were they to leave the US.

With that in mind, we note fact that calls for Texas to become independent have surged in the wake of the Brexit vote.


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Fortunes Will Be Made & Lost When Capital Flees To Safety

Courtesy of ZeroHedge. View original post here.

Submitted by Adam Taggart of PeakProsperity

Fortunes Will Be Made & Lost When Capital Flees To Safety

Little did I realize when creating the short video below how prescient it would quickly become in the wake of last night’s Brexit vote…

Its message is simple: there’s a preponderance of data that shows the world’s major asset markets are dangerously overvalued. And when these asset bubbles start to burst, the ‘save haven’ markets that investment capital will try to flee to are ridiculously small. Investors who do not start moving their capital in advance of crisis will be forced to pay much higher prices for safety – or may find they can’t get into these haven assets at any price:

The aftermath of last night’s Brexit vote is providing us with ample validation of the video’s thesis. 

Stock prices immediately plunged:

The US dollar surged:

Gold put in a $100/oz reversal (which has since moderated a bit):

And Bitcoin jumped:

And look at the capital fleeing derivatives like sovereign credit default swaps. Losses of over 30% in a matter of hours. Yikes!





Hollande Meets Le Pen to Discuss Brexit; Can France Escape a Referendum?

Courtesy of Mish.

In the wake of the stunning Brexit vote come news that French president Francois Hollande has called for a meeting of minds to discuss a response.

Interesting, the group includes Eurosceptic party leader Marine Le Pen.

Please consider François Hollande Meets Marine Le Pen to Discuss Brexit Fallout.

François Hollande met Marine Le Pen at the Elysée Palace on Saturday in a sign of how the far-right leader has taken centre stage in France in the wake of Britain’s vote to leave the EU.

Mr Hollande gathered France’s most prominent political party leaders — including Ms Pen — for a series of back-to-back meetings as he sought to thrash out a response to Thursday’s UK referendum.

The move comes less than a year before France’s presidential election, in which both Mr Hollande and Ms Le Pen are expected to run. The French president was also meeting Nicolas Sarkozy, his predecessor in the Elysee and another likely candidate in next year’s race.

Britain’s decision to leave the EU has further raised the profile of Ms Le Pen, whose National Front has already notched up a series of impressive results in local elections.

Ms Le Pen used Saturday’s meeting to reiterate her demands for a referendum on France’s membership of the EU, but she said that her calls were rejected and admitted that she was left “with the feeling of having come for nothing”.

She added that there was a clear strategy to make Britain’s exit painful so as to set an example to others. “It is clear that some people want the divorce to be as painful as possible so that others don’t get the idea of going down the same road as the British,” she said after the meeting with Mr Hollande.

The French president is seeking to adopt a tough stance on the UK’s decision — one that would impose costs on Britain for leaving the bloc — not least to limit Ms Le Pen’s calls for a so-called “Frexit”, and to avoid the issue dominating the forthcoming campaign.

On Saturday, Emmanuel Macron, the French economy minister, called for a new European project to make the bloc “much more transparent and democratic”, and said that it should be put to citizens via a referendum. “We have never had the courage to


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T Boone Pickens Hour Interview – Birthday with a Billionaire

By Jacob Wolinsky. Originally published at ValueWalk.

T Boone Pickens Hour Interview – Birthday with a Billionaire

T. Boone Pickens

Sign up for ValueWalk’s free newsletter here.





Not So Fast: Scotland And Northern Ireland May Have Brexit Veto Rights

Courtesy of ZeroHedge. View original post here.

Two days after the shocking Brexit result, the nightmares for the Remain camp – which refuses to accept a democratic reality – will not go away. As a result, it has gotten to the farcical point where disgruntled Remain voters have launched a petition demanding a second EU referendum, having clearly forgotten that it was the dramatically low turnout among their ranks that allowed the Leave vote to have such a knockout victory. To be sure this is a well-known technocrat approach: keep voting and revoting until the desired outcome is finally achieved.

We doubt this particular approach has any hope of success. We also doubt that a call by Labor MP David Lammy, urging for a vote in Parliament to “stop this madness”, the madness in question being the will of the majority, which clearly is not appreciated by a member of a “democratically” elected institution. One can spend all day analyzing the amusing ironies in that statement.

Wake up. We do not have to do this. We can stop this madness through a vote in Parliament. My statement below pic.twitter.com/V8f9Yo1TZd

— David Lammy (@DavidLammy) June 25, 2016

However, while these are merely desperation antics by a group who will do almost anything to hang on to the benefits presented to them by the status quo, regardless of the will of the majority, a curious observation has emerged courtesy of Jim Fitzpatrick, who points out that according to the 28-page government Command Paper laying out “The Process of withdrawing from the European Union“, which goes through the infamous Article 50 of the Treaty on European Union (TEU), the first time in history when Article 50 will be invoked, there may actually be a hurdle to the actual Brexit process, in the form of a Scottish and Northern Irish veto to Britain’s separation from the EU. To wit:

The role of the devolved legislatures in implementing the withdrawal agreement:

We asked Sir David whether he thought the Scottish Parliament would have to give its consent to measures extinguishing the application of EU law in Scotland. He noted that such measures would entail amendment of section 29 of the Scotland Act 1998, which binds the Scottish Parliament to act


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Market News

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Financial Markets and Economy

Central banks ready to cooperate after Brexit result (Business Insider)

Central banks are ready to cooperate to support financial stability in the wake of Britain's vote to leave the European Union, the Bank for International Settlements said on Saturday.

Central bankers gathered at the organization's global economy meeting in Switzerland discussed the implications of the referendum.

How Americans spend their day reflects a shifting economy and population (Wall Street Journal)

Americans overall are working less and sleeping more than they were a decade ago, trends that point to an aging p...



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Zero Hedge

Is Brexit The First Of Many Dominoes? A Few Charts

Courtesy of ZeroHedge. View original post here.

Courtesy of: Visual Capitalist

Is Brexit the First of Many Dominoes?

Markets have been turned upside down by a surprise Brexit result and the resignation of David Cameron. While there is looming uncertainty around how this will affect the United Kingdom and Europe from an economic perspective, it might be just the tip of the iceberg in terms of long-run consequences.

A Brexit opens the door for future events that would be previously unfathomable by popular opinion, ...



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ValueWalk

George Soros: With Brexit, EU Now On The Verge Of Collapse

By Jacob Wolinsky. Originally published at ValueWalk.

George Soros is back again with a dire warning – the Brexit could lead to the disintegration of the European Union. I noted in his earlier op-ed that Soros only focused on UK concerns with the EU and not with a EU break-up, but that it must surely be on his mind since he has warned that the EU is on the verge of collapse and Brexit now will hasten it. This too was my biggest fear regarding Brexit and even though I think Europe needs to get a hold of its immigration policy I favored remain. It looks like Soros so far is proving right – the IRA is back with demands in Ireland, the Scotts might vote for independence, there is talk of Italy breaki...



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Chart School

Best Stock Market Indicator Update

Courtesy of Doug Short's Advisor Perspectives.

We continue to receive requests for updates to the "Best Stock Market Indicator", which used to be a regular guest post from John Carlucci. Here is an update of the "Carlucci" indicator along with a summary of John's explanation on how he uses it.

As John described it: "The $OEXA200R (the percentage of S&P 100 stocks above their 200 DMA) is a technical indicator available on StockCharts.com used to find the "sweet spot" time period in the market when you have the best chance of making money."

Latest Indicator Position

According to this system, the market ...



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Kimble Charting Solutions

2007 pattern being repeated right now? Another "Push Away???"

Courtesy of Chris Kimble.

CLICK ON CHART TO ENLARGE

The NYSE index kissed the underside of dual resistance at (1) back in 2008. Once resistance held, a big push away from it took place and sellers stepped forward.

NYSE creating a similar pattern again at (2)???

This would NOT be a good place for the Risk On trade if the broad market starts “pushing away” from dual resistance at (2).

Full Disclosure- ...



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Mapping The Market

Thoughts on Brexit

I have mixed feelings about Brexit today. Clearly the European institution need reforming. The addition of so many countries in the last 20 years has created a top heavy administration. The Euro adds more complexities to the equation as the ECB policies cannot fit every country's problem. On the other hand, a unified Europe has advantages as well – some countries have benefited from the integration.

For Britain, it's hard to say what the final price will be. My guess is that Scotland might now vote for independence as they supported staying in Europe overwhelmingly. Northern Ireland might be tempted to leave as well so possibly RIP UK in the long run. I was talking to some French people and they were saying that now there might be no incentive for France to stop immigrants from crossing over to the UK like they do now and simply allow for travel there and let the UK deal with them. The end game is not clear to anyone at the moment....



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Digital Currencies

Bitcoin Tumbles 10%

Courtesy of ZeroHedge. View original post here.

One week ago, when bitcoin first crossed above $700 on the seemingly insatiable Chinese buying which we forecast last September (when bitcoin was trading at $230) would take place as a result of China's capital controls (to much pushback by the "mainstream" financial media), we tried to predict what may happen next. We said that "it could go much higher. That said, anyone who bought last September when the digital currency was trading at $230 may be advised to take some profits, and at least make...



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OpTrader

Swing trading portfolio - week of June 20th, 2016

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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All About Trends

Mid-Day Update

Reminder: Harlan is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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Biotech

This Is Why Biotech Stocks May Explode Again

Reminder: Pharmboy and Ilene are available to chat with Members.

Here's an interesting article from Investor's Business Daily arguing that biotech stocks are beginning to recover from their recent declines, notwithstanding current weakness.

This Is Why Biotech Stocks May Explode Again

By 

Excerpt:

After a three-year bull run that more than quadrupled its value by its peak last July, IBD’s Medical-Biomed/Biotech Industry Group plunged 50% by early February, hurt by backlashes against high drug prices and mergers that seek to lower corporate taxes.

...



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Promotions

PSW is more than just stock talk!

 

We know you love coming here for our Stocks & Options education, strategy and trade ideas, and for Phil's daily commentary which you can't live without, but there's more!

PhilStockWorld.com features the most important and most interesting news items from around the web, all day, every day!

News: If you missed it, you can probably find it in our Market News section. We sift through piles of news so you don't have to.   

If you are looking for non-mainstream, provocatively-narrated news and opinion pieces which promise to make you think -- we feature Zero Hedge, ...



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Help One Of Our Own PSW Members

"Hello PSW Members –

This is a non-trading topic, but I wanted to post it during trading hours so as many eyes can see it as possible.  Feel free to contact me directly at jennifersurovy@yahoo.com with any questions.

Last fall there was some discussion on the PSW board regarding setting up a YouCaring donation page for a PSW member, Shadowfax. Since then, we have been looking into ways to help get him additional medical services and to pay down his medical debts.  After following those leads, we are ready to move ahead with the YouCaring site. (Link is posted below.)  Any help you can give will be greatly appreciated; not only to help aid in his medical bill debt, but to also show what a great community this group is.

http://www.youcaring.com/medical-fundraiser/help-get-shadowfax-out-from-the-darkness-of-medical-bills-/126743

Thank you for you time!




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