lyb Posted March 11, 2011 Report Share Posted March 11, 2011 Silver on fire. The recovery after yesterday's sell-off is completely unexpected. Rebought 200 ounches that I sold yesterday for small loss. Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 11, 2011 Report Share Posted March 11, 2011 The recovery after yesterday's sell-off is completely unexpected. Hmmm, is it? Rebought 200 ounches that I sold yesterday for small loss. Hmmm, trading in and out, getting sandpapered? Link to comment Share on other sites More sharing options...
d2thdr Posted March 12, 2011 Report Share Posted March 12, 2011 JP Morgan’s suppliers, there appear to be about 100 refiners on their list, and they can’t find enough silver to back even 5000 contracts, for 25 million oz. of silver! The Last Contango In Washington People from around the world keep asking me what advance warning for the collapse of our international monetary system, based as it is on irredeemable promises to pay, they should be looking for. My answer invariably is: "watch for the last contango in silver". It takes a little bit of explaining what this cryptic message means. Contango is that condition whereby more distant futures prices are at a premium over the nearby. The opposite is called backwardation which obtains when the nearby futures sell at a premium and the more distant futures are at a discount. When contango gives way to backwardation in all contract spreads, never again to return, it is a foolproof indication that no deliverable monetary silver exists. People with inside information have snapped it up in anticipation of an imminent monetary crisis. Are we there yet? Link to comment Share on other sites More sharing options...
andrew Posted March 12, 2011 Report Share Posted March 12, 2011 Adam Hamilton of Zeal Intelligence argues that silver is over due a correction............. It has just gone to far to fast. This article is informative reading, well worth clicking on. http://www.zealllc.com/2011/silvtop2.htm I'm still going to hold my physical though. Link to comment Share on other sites More sharing options...
Pixel8r Posted March 13, 2011 Report Share Posted March 13, 2011 Adam Hamilton of Zeal Intelligence argues that silver is over due a correction............. It has just gone to far to fast. This article is informative reading, well worth clicking on. http://www.zealllc.c...11/silvtop2.htm I'm still going to hold my physical though. I think Adam has fallen into the trap of looking too much at linear charts. As I recently pointed out the current increase doesn't look half as over extended when you look on a log chart. In the chart below you can see that it could be that we do have a rapid increase to $50 over the next few months, IMO this could then lead to the "too far too fast" situation that Adam mentions in his article. But even if that does happen it also could be said that silver hasn't moved too far or too fast in that the silver ballon has been kept under water for so long by the bullion banks manipulation and JPM massive short. Link to comment Share on other sites More sharing options...
Carlton Posted March 13, 2011 Report Share Posted March 13, 2011 Thanks, Pixel8r. The log plot is also more in line with seasonality. However, I greatly respect Hamilton's work; he puts together great data. Link to comment Share on other sites More sharing options...
jsr Posted March 13, 2011 Report Share Posted March 13, 2011 I think Adam has fallen into the trap of looking too much at linear charts. As I recently pointed out the current increase doesn't look half as over extended when you look on a log chart. Although my silver timing has been absolutely terrible, I would tend to agree with you. Look at the price action on SLV on friday to see what I mean. Pix, what's your 2011 target for silver? Link to comment Share on other sites More sharing options...
Pixel8r Posted March 13, 2011 Report Share Posted March 13, 2011 Pix, what's your 2011 target for silver? $60 Link to comment Share on other sites More sharing options...
Fortune Posted March 14, 2011 Report Share Posted March 14, 2011 I think Adam has fallen into the trap of looking too much at linear charts. As I recently pointed out the current increase doesn't look half as over extended when you look on a log chart. In the chart below you can see that it could be that we do have a rapid increase to $50 over the next few months, IMO this could then lead to the "too far too fast" situation that Adam mentions in his article. But even if that does happen it also could be said that silver hasn't moved too far or too fast in that the silver ballon has been kept under water for so long by the bullion banks manipulation and JPM massive short. Yep. And there are too many unknown variables going on right now in the world. TA doesn't mean squat, considering the event happening right now in Japan. Link to comment Share on other sites More sharing options...
andrew Posted March 14, 2011 Report Share Posted March 14, 2011 I think Adam has fallen into the trap of looking too much at linear charts. As I recently pointed out the current increase doesn't look half as over extended when you look on a log chart. In the chart below you can see that it could be that we do have a rapid increase to $50 over the next few months, IMO this could then lead to the "too far too fast" situation that Adam mentions in his article. But even if that does happen it also could be said that silver hasn't moved too far or too fast in that the silver ballon has been kept under water for so long by the bullion banks manipulation and JPM massive short. If/when the trade in empty promises (massive shorts) becomes general knowledge silver will become very volatile as manufactures fret about supplies to keep production running. Holding months worth of stock will be regarded as prudent insurance for which they will eagerly pay a high price. Then you get a short squeeeeeeze. This is the point that I believe silver will become main stream news and masses of speculators will jump on board. I also think silver may well test the old nominal $50 high on this up leg, but it may take a couple of attempts to break through before the real party starts. I admire Adam Hamilton but we should also factor in the possibility of panic buying. Pixel8r log charts do show a more 'balanced' picture. Link to comment Share on other sites More sharing options...
CIGA Posted March 14, 2011 Report Share Posted March 14, 2011 It is definitely worth reading this article, I am not selling anything.. yet..but not buying with much vigour either. http://www.zealllc.com/2011/silvtop2.htm Link to comment Share on other sites More sharing options...
LauraB Posted March 14, 2011 Report Share Posted March 14, 2011 It is definitely worth reading this article, I am not selling anything.. yet..but not buying with much vigour either. http://www.zealllc.com/2011/silvtop2.htm & JP Morgan are offering 80% premium to avoid physical delivery? Aging model & biologist takes one glass; ice cubes; Canada dry; rum. Proceeds to veranda. Sits, pours, drinks. Watches the yachts sail by. Life made sense looking through a microscope; then (creative financial) man intervened Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 15, 2011 Report Share Posted March 15, 2011 The JPMorgue will be doing their best to use this catastrophe to scare the sheeple out of silver. This will be the last major buying opportunity sub-$50 IMHO. Link to comment Share on other sites More sharing options...
Eiji Posted March 15, 2011 Report Share Posted March 15, 2011 The JPMorgue will be doing their best to use this catastrophe to scare the sheeple out of silver. This will be the last major buying opportunity sub-$50 IMHO. I agree...unless there is another major natural disaster this year. Link to comment Share on other sites More sharing options...
warpig Posted March 17, 2011 Report Share Posted March 17, 2011 It looks to me like silver is selling off, which I actually think is a good thing for the medium/long term. It was going to happen anyway, the only question in my mind was if it happened at $37.50 - $40.00 or $50.00. You can't escape traders taking profits... Personally I think if Japan's situation escalates, silver will sell off further, but before anyone says anything I'm fully aware of the supply constraints and why silver should be much higher, but I just don't think it's going to happen just yet... Assuming it does break down from here, $27/t.oz (50% fib.) looks likely to me. Sorry if this is an unpopular view and of course I could well be wrong. Link to comment Share on other sites More sharing options...
Schaublin Posted March 17, 2011 Report Share Posted March 17, 2011 It looks to me like silver is selling off, which I actually think is a good thing for the medium/long term. It was going to happen anyway, the only question in my mind was if it happened at $37.50 - $40.00 or $50.00. You can't escape traders taking profits... Personally I think if Japan's situation escalates, silver will sell off further, but before anyone says anything I'm fully aware of the supply constraints and why silver should be much higher, but I just don't think it's going to happen just yet... Assuming it does break down from here, $27/t.oz (50% fib.) looks likely to me. Sorry if this is an unpopular view and of course I could well be wrong. I agree - cannot articulate precisely why. Sold some silver a few days ago - will hopefully, catch a dip in gold next week - 1380 maybe? Link to comment Share on other sites More sharing options...
warpig Posted March 17, 2011 Report Share Posted March 17, 2011 There seems to be long term support from Jan 2009 around the $1360/t.oz price mark, so as a worse case scenario, somewhere between 1360-1373 sounds about right as long as the markets continue to deteriorate. The caveat is a renewed QE response to a falling market and the obvious effects that will have on PM's. I agree - cannot articulate precisely why. Sold some silver a few days ago - will hopefully, catch a dip in gold next week - 1380 maybe? Link to comment Share on other sites More sharing options...
LauraB Posted March 17, 2011 Report Share Posted March 17, 2011 I've been searching the fashion blogs to see if Blythe has verbally reacted to all the silver wallpaper flooding into her office. Result: Nothing. So one assumes all is 'normal' at JPM? Link to comment Share on other sites More sharing options...
Pixel8r Posted March 17, 2011 Report Share Posted March 17, 2011 1oz Silver Keiser on eBay @ $103.50 - http://cgi.ebay.com/1oz-Silver-Keiser-NO-RESERVE-/120699393151?pt=LH_DefaultDomain_0&hash=item1c1a3e947f#ht_500wt_1153 Link to comment Share on other sites More sharing options...
Errol Posted March 20, 2011 Report Share Posted March 20, 2011 Note each cruise missile contains approx. 15kg of silver in wiring, contacts, solder and batteries. The more silver the SLA talkes off the market, the less bombs and missiles can be fired. BUY! BUY! BUY! so they can’t bomb! bomb! bomb! http://maxkeiser.com/2011/03/20/note-each-cruise-missile-contains-approx-15kg-of-silver-in-wiring-contacts-solder-and-batteries/ http://ausbullion.blogspot.com/2011/03/1650kg-of-silver-fired-at-libya-to.html Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 23, 2011 Report Share Posted March 23, 2011 A new 31-year high at over $37. Phew, I could actually log in!! Link to comment Share on other sites More sharing options...
wee Jinky Posted March 23, 2011 Report Share Posted March 23, 2011 $37.20 now caught the dip at $34 got some Phillys Maples and Libertads havent bought Libertads before and they are very dull ie: not shiny like the other 2 delivery was by UPS and I was supposed to check the seal ,weigh the package and then sign for them , I found them sitting on my windowsill by the front door was tempted to claim they never arrived but conscience won out in the end would be surprised to see sub $30 silver again but if I do its load up time Link to comment Share on other sites More sharing options...
wee Jinky Posted March 23, 2011 Report Share Posted March 23, 2011 . Phew, I could actually log in!! I was getting worried JP Sukks had hijacked the forum Link to comment Share on other sites More sharing options...
njpurser Posted March 23, 2011 Report Share Posted March 23, 2011 A new 31-year high at over $37. Phew, I could actually log in!! and still full steam ahead! Lol to all. Nick Link to comment Share on other sites More sharing options...
huntergatherer Posted March 25, 2011 Report Share Posted March 25, 2011 $37.20 now caught the dip at $34 got some Phillys Maples and Libertads havent bought Libertads before and they are very dull ie: not shiny like the other 2 delivery was by UPS and I was supposed to check the seal ,weigh the package and then sign for them , I found them sitting on my windowsill by the front door was tempted to claim they never arrived but conscience won out in the end would be surprised to see sub $30 silver again but if I do its load up time Know what you mean. Caught the dip at sub $9 ($8.81) when purchased Ag at $18 (halved in dollar terms) Ag quadrupled since then and $18 purchase doubled. Link to comment Share on other sites More sharing options...
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