Gatesy

Veerrry slow on here today. Gold and silver having a good knock on door of resistance again. Strong action in general i think over the last couple of weeks.

I've seen this 'bath' shaped chart a lot recently, including from JS. Do we really think the price is following this line going forwards. If we do the price is going exponential RIGHT NOW !?

So does this mean prices up or down in the short term... A few possible scenarios as follows? 1) Large long investors have to find more margin for existing positions and thus close out (sell) some positions if they are already margined to the near maximum = short term downward price pressure 2) The big short players are already more leveraged than the longs and have to liquidate (buy to cover) some of their positions to stay in the market = short term upward price pressure 3) Neither longs nor shorts are overly leveraged and can afford to add margin to keep existing positions open? hmmm.

Oh contraire. Belly of pork slow roasted and served with garlic mash would be one of my all time favourite dishes. Also, what do you think streaky bacon actually is? I suggest you buy the River Cottage Meat Book. Essential reading for any meat lover.

Thanks Bobsta, that makes me feel quite a lot better about it.

At the risk of keeping this thread well and truly off topic, I totally agree with you. This is possibly one of the greatest drawbacks / risks IMO. I suppose I have turned a blind eye to this at the prospect of juicy tax free gains, but I have certainly noticed this. However it is not just the SB firms but brokers also I have found pretty flaky in this regard. I have been very surprised in fact that one particular broker allows me to trade and discuss an account in my wifes name which i set up for her; you know, in practical terms that's exactly what you want, but they've never even asked to speak with her to "OK" this.... so it reflects quite poorly on their security standards generally. Back on the SB firms, it's not just the phone security but the web platform is not via SSL. I queried this when I set the account up and they claimed it was due to the large volume of data being piped to my client end. Anyone know if this is just an excuse or a reasonable explanation? Anyone know of any known web attacks/hacks on SB firms due to this secruity hole?

Dumb and Dumber on radio 4 Today this morning. Paulson and Darling really are a couple of plonkers. Darling still bleeting on about how "well placed" Britain is to ride out economic storms, Paulson stuttering and spluttering about how the UK and US are "working together on working things through going forwards" and other such shite. I would have liked to hear Humphries do more of a number on them to be honest; he was getting warmed up but didn't really stick the boot in like we know he can. http://news.bbc.co.uk/today/hi/today/newsi...000/7486903.stm

I think I would have saved the robbery comment for the second email...

Here, here. Bobsta knows my story; not disimilar to his own. Suffice to say I've "learned a lot" as well. Onwards and upwards ! I think long term is difficult with SB. Certainly gold and silver are fairly limited to about 3 months out, currencies 6 months and indices/stocks max one year. I'd regard these all as short to medium term. I ade a point of checking out IG's balance sheet as well before using them and they look pretty safe to me (low debt / good cash flow), and given 85% of the clients lose (IMO through lack of knowledge/research/naivety) I think there safe over those timeframes.

Looked like a bang out of order move to me, but almost guranteed to be your synthetic market maker (spreadbetter) stitching you up. Don't uderestimate their ability /desire to target the small palyers. In fact small palyers are probably just the type they rely on stitichin up as bread and butter for their bottom line. I have read and discussed the pitfalls of SB co's, particularly IG on GEI, but am still a sucker for it (cheers CG). I do use guaranteed stops and in my experence I haven't seen glithces like this in IG's gold and silver market, but I have seen them on charts for other stocks etc on IG. I think IG would have a fairly large rebellion if they tried this in silver or gold personally.

Does this mean "are you pissed?"?

I've heard on more than one occassion reference made to a lack of 'elephant' finds thus far in the bull, and that they are sure to come, and that when they do it is very supportive of a continuing bull. Sorry can't remember where !

Needs to go through 950 really though doesn't it?

Very tricky. I'm not buying more at the moment. I'm really looking for 1 or 2 further opportunities to invest a little more in this market but not just yet. We shouldn't forget that many on here still expect some meandering for the rest of the summer; the 300 day moving average is still only at around $828 and this consolidation period hasn't touched it yet. It increases by about $1 a day at the moment though so should be around $888 by the end of August, if the price continues to consolidate a while longer. This surely gives a strong base to bounce of and blast away into the late summer and early autumn? I'm hoping similar for silver too. I like Bigt was waiting for a slight pullback in oil and missed getting in a large long position on that one, but I have also chased silver before only for it to pull back and find myself in a larger margined position than I would like, having got in higher than I would have liked For physical, averaging is the way to go but as I say, I have at the moment a little more I'd like to invest leveraged so finding the lower price is more important. I' determined to wait it out a little longer this time for that particular opening.

Celebratory reverse terradactyl in support of silver's massive open !

Blimey, looks a million dollars

Sossi, I'd recommend reading this thread to get you started http://www.greenenergyinvestors.com/index.php?showtopic=2981

One of his absolute worst yet ! "Err Jim Ar jurst hayde id, win ar doant havv the datar " Hadn't even heard the oil supply / demand arguments Jim has been spouting for years. "whadt, 84 millyun barrels?"

Superb. Hope I can feel the same one day.

I played that game last night after silvers move up and I am regretting it at the moment, but must be patient as the point is to look for falls next week and buy back in...

I met up for lunch with my old boss the other day. Through previous conversations in the last few months I had explained my learnings on impending plunging house prices, rising gold, silver, oil and commodities and the fiat money crisis. I couldn't believe it when over lunch he was saying within 6 months he thinks there'll be real bargain houses out there! Perhaps six years is my thought on that one, but this guy is otherwise quite shrewd, but people just can't seem to let it go/move on from an old mindset, which is now broken. Sometimes when you speak with like minded people on here for a while you think "everyone's getting it now" but lots of Joe Public are way behind the curve, even now....

What happens at 6pm then? EDIT: Bizarre, looks exactly like the daily consolidation of the last few weeks. EDIT2: Broke to the downside Mangaed to us ethis to rationalise my silver position for a better buy in hopefully later today or tomorrow.

Jeff Christian on FSN last week was saying that rollover of July contracts in PM's would rally prices up a little this week, for them to fall back on new short positions being opened next week. I'm considering closing a few breakeven longs at this stage to get in lower next week; any views?

These moves are certainly nerve racking when they happen, but something I noticed some time ago, just looking back over the price action of the last couple of years, is that plenty of significant upward price movements which would develop over a at least 2 month periods were immediately preceded by sharp 1 or 2 day price falls often upto about 15% drops. I haven't got a chart postable to hand but look at Sept 06, Dec 06, Feb 07, Aug 07, Dec 07 for examples. These appear to be clear bouts of profit taking with then steady increases following. Certainly these are one of the hallmarks of bullish price action; I keep hoping to see similar here following such large drops ! Edit: talking about Silver here.

Dead cat bounce. Last of the 9 lives here, surely. (Of course this is against poor prior month figures) http://news.bbc.co.uk/1/hi/business/7462945.stm