Here begins another week of trading

[billo]

It should go down a bit more.

[neilgin1]

Don't know whether to agree or disagree. I can see it dropping more, but the charts are beginning to scare me.
I covered half of my short positions in CDE and SLW near the end of the day, took a small loss.
I think we are about to see some weakness there, yet tomorrow will be relatively flat.
Bought 420 shares of FAZ at $11.89, its almost a guarantee they will be gone by Friday's close, loss or gain. If I can cover my shorts with a gain or no loss this week, I will be willing to do that too.

I'm not seeing the bottom at $25, I still hold onto $22-24

.

Also wondering what Ireland will do. I still feel that they will accept some form of bailout.
http://www.nytimes.com/2010/11/17/business/global/17europe.html?src=busln

Brother, i hope your right...ie. a bottom of 22-24........but my gut feeling, and watching how she trades (new money coming in above 25 on the board, etc.) lends me to the opinion, that 25 is key. If 25 holds, we'll cut thru 30, and then its off to the races and take out that old phony "Hunt high", and trade up to 50, before calming down, towards the first real stop at 75.

i dont got the software gear, but i sure would like to see a current Gold/Silver ratio chart, coz i got a feeling thats going to 30, minimum.

i'm a terrible market timer, on the short term basis, but i remember in 99-2000, when Crude oil was trading between 16-20 a barrel, i was trading on the long side, telling all my close buds, this mkt's going to 70 first stop, then 120. Everybody said 'yer sniffing paint thinner, where you get that?

it was simple, i took a weekly chart of 1970-1982, and just added a zero, same thing here.

my problem back then was getting crazy, and overtrading with not enough equity. i laugh, coz if i had hit it right, i dont know if i'd be alive today. God takes care of fools like me, gives me just enough.

Good luck and blessings to all ya'll

[Devil Soundwave]

I reckon it'll move down a couple notches to about $24 by weeks end.

Mid week and at 25.69 and falling... *nods*



I'm, just making this up as I go by the way; I trust every single one of you regards this market more than I trust myself!

[Rodebaugh]

God takes care of fools like me, gives me just enough.

Hats off man.... thats a darn good quote

[beauanderos]

One gripe I'd like to air... we always hear that silver "should" surpass the $50 or $125 (inflation-adjusted) high of 1980, and until it does it is underpriced. Now, there is no one who is any more bullish on silver than I am, but I say bullion feces. That price spike before was due to special circumstances that existed at that time, and there is NO reason to prognosticate that that price will be surpassed merely because of inflation. That one-time price spike has no bearing on anything. That said, I do believe we will pass that price point based on fundamentals of supply/demand and eventual short-covering... but the entire premise of "we'll reach a certain point because we were there before" or that a market is underpriced because it hasn't surpassed previous highs is BS.

[vrbsroma]

Well-said Beau. "Past performance is no indicator of future success"

[theo]

I agree that saying silver should be $125 just based on inflation is a little much. However, in 1979 the average silver price was just under $22. To me that price has a far better foundation than the spike to (and crush from) $49. Adjust that price ($22) for inflation (understated as it is) and you are at about $50. This where the physical, unmanipulated price of silver should be. From there I agree that it's about the fundementals.

[stateofmind]

Made a decision today to buy 200 shares of Cisco @ 19.58. This is a long term investment, like two years or more until I head off to college. I can see Cisco growing; they are a very strong company, have good management, and hold many, many patents that they can capitalize on. After their big fall I decided to pick some up on a discount, and I feel pretty good about the decision.

[Devil Soundwave]

Plus, they make those cool phones like CTU have in 24. I have one on my desk.

[stateofmind]

Grats Neilgin to calling the bottom. Don't know how long it will last though...
I'm out of paper silver, however. I just have my hoard left.
Anyways, I made some moves today that I feel you guys may be interested in:
---Sold all FAZ.(Ultrashort Banks)
---Bought $3000 worth of options in both
------IRE(Bank of Ireland)[Expire in July 2011]
------AIB(Allied Irish Banks)[Expire in May 2001]
------Still holding onto Cisco.
Wanting to do something nice tomorrow to celebrate being out of school and IRE's and AIB's bounces!

[JJM]

Personally, I don't think many people with an interest in base and precious metals, on a board which is heavier on survivalism/prepping than your average forum, have too much interest in paper investments, especially in the banking world....lol. I do admire your optimism though, I wish I was still a polly!