Silver - Time to Sell?

[JJM]

The shorts are taking it in the shorts again this morning...

[stateofmind]

Start of the correction?
SLW Down 8% at close,
CDE down 6%.

[Country]

Perhaps... Perhaps not. Let's see what the rest of this week shows us.

What I find most interesting is that NY Wall Street and their best bud the LME seem to think that by raising margin requirements they can technically change the direction of a worldwide commodity. IMHO, we are witnessing economic powers toying in these markets. Who would dare to compete with hegemony that has existed for decades in these metals? Perhaps, the time has come for other sovereigns to mold markets as they alone see fit to do. Could players on the other side of this world become the new kingpins soon? I guess we'll see over the next weeks and months how this plays out.

[beauanderos]

Perhaps... Perhaps not. Let's see what the rest of this week shows us.

What I find most interesting is that NY Wall Street and their best bud the LME seem to think that by raising margin requirements they can technically change the direction of a worldwide commodity. IMHO, we are witnessing economic powers toying in these markets. Who would dare to compete with hegemony that has existed for decades in these metals? Perhaps, the time has come for other sovereigns to mold markets as they alone see fit to do. Could players on the other side of this world become the new kingpins soon? I guess we'll see over the next weeks and months how this plays out.

Wouldn't it be nice to see enough of the dollar currency reserves held by China put into play by skillful practitioners to swamp the Bankster shorts? Last time a significant reversal occured in silver, it took ten trading days to recapture the print. Bet it won't take as long this time. Stateofmind... you must have money to burn, shorting SLW.

[Country]

GOING UP - COULD THIS BE ANOTHER 1 DAY CORRECTION?

SILVER UP $1.05 TO $28....

The market has spoken. Maybe NY is NOT in charge anymore....

[Devil Soundwave]

Here we go again! Think I might go over to the coin shop and see if he has any ASE in...

[neilgin1]

time 0830-ish CST Dec silver 27.80

again IF i was in the Comex pit, selling with both hands, at 27.80, 28 even, and 28.50

obj.....24-20..somewhere in there.

[neilgin1]

just talking about futures for a second: obviously the volatility is insane.

right now, we're at the 27.00 even mark, and you can see the battle clearly, ie, some guys are trying to defend that price point, or maybe catch some foolhardy shorts vulnerable....or its day traders covering, but the in my lil opinion, the short term trend flipped and is down. i could be wrong, but this aint a bad thing, you got to clean the excess out.

Not defending the Comex AT ALL, nor the unholy ones, but when volatility gets crazy, its a normative occurence the exchange ups margins, i seen in all sorts of markets, wheat, corn, crude, you name it, margins go up, because if guys get foolish and get killed, its the house that eats it. i remember a day, when i could put on old crop/new crop corn spreads with a $135 margin, and i'd get crazy. Lucky for me, i was right....other times, not so much (lol)

oh! there we go.....they're hitting it below 27, going to go gunning for yesterdays low, and try and close Dec SI below that, make it look on the charts, and scare weak longs.

We're going to get blessed here, by being able to have one last chance to buy right, before these idjits burn thru the 600bln QE2.

ASE's at $500 a roll, 90's at 15X-16

[JJM]

There is another big issue that I haven't seen mentioned on here in any of the threads - the crashing economies of Ireland and Greece. Money is leaving the Euro and entering the USD in droves, this is driving down the PM prices. It looks like the EEU will be the next sucker at the QE pump, this is uber-bullish for PM's... I believe this correction will be fairly short-lived.

[Thogey]

All of this QE/ money manipulation makes me sick. It's immoral and it's going to hurt the weak and uneducated and uninformed the hardest.

One can only hope the architects of this get their asses handed to them first WTSHTF.

[Sheikh_yer_Bu'Tay]

Perhaps... Perhaps not. Let's see what the rest of this week shows us.

What I find most interesting is that NY Wall Street and their best bud the LME seem to think that by raising margin requirements they can technically change the direction of a worldwide commodity. IMHO, we are witnessing economic powers toying in these markets. Who would dare to compete with hegemony that has existed for decades in these metals? Perhaps, the time has come for other sovereigns to mold markets as they alone see fit to do. Could players on the other side of this world become the new kingpins soon? I guess we'll see over the next weeks and months how this plays out.

Over a decade ago, some laws were passed by the American People effecting the trade balances and economies of the world. Those who opposed it predicted the 21st century would belong to Asia. We have done it to ourselves.

[stateofmind]

Silver crashing again in Europe and Asia. Currently down 3%, sparked by the USD rising in comparison to the Euro because of the bad economies in the Eurozone.
http://www.bloomberg.com/news/2010-11-1 ... igher.html
Will this transfer to the US in the morning

[Rodebaugh]

good eye....sub $27

[HelloMeteor]

good eye....sub $27

I haven't actually sold any yet.