SILVER - WAS $31-$49, WAS $33-$43, NOW $44+

[goodcents]

It's a beautiful thing. Nothing better on a Friday for me to see.

[Thogey]

Now silver falls a buck in just a few minutes.

[brian0918]

OFF A CLIFF!

[brian0918]

The cause of the drop: http://www.zerohedge.com/news/according ... nes-silver

[68Camaro]

It's pretty hilarious, actually. I wouldn't call this "manipulation", but paper trader idiocy. There are no convictions, just movement in the wind.

[blackrabbit]

Good morning volatility! Paper people having a fun Friday morning indeed!

[Country]

Quadrupal witching on the futures today. Pretty standard - violent swings can occur.

[henrysmedford]

What is up today. Big junp.

[brian0918]

ZeroHedge is claiming the jump is due to the comments just made by a Fed member about QE-infinity.

[henrysmedford]

ZeroHedge is claiming the jump is due to the comments just made by a Fed member about QE-infinity.

You can watch it here.

http://video.cnbc.com/gallery/?video=3000118604&play=1

[68Camaro]

So after a couple more weeks consolidating and trying to broach 35 and stay there, silver got knocked back to its $34 platform mentioned a few posts (and a couple of weeks) earlier.

Gold was knocked back as well from 1790+, but not as far - didn't stay long below 1770.

Both are climbing up again early tonight. Silver nearing 34.2 and gold trying to get back over 1780.

The longer these stay in this range, the larger the breakout will be.

[68Camaro]

While TPTB have successfully defended their near-term goals of 1770 gold and 34 silver, when you look at the kitco 3-day trend-lines this week, keep in mind that the scale auto-sets, and what appears to be a radical change is actually only a few tenths. Silver is still trading at 34 +/- 0.3. It's a very narrow trading range.

[shinnosuke]

While TPTB have successfully defended their near-term goals of 1770 gold and 34 silver, when you look at the kitco 3-day trend-lines this week, keep in mind that the scale auto-sets, and what appears to be a radical change is actually only a few tenths. Silver is still trading at 34 +/- 0.3. It's a very narrow trading range.

ruh-roh

[68Camaro]

No need to panic...

BTW, I do believe we will be sliding slowly downhill until the election, barring some other major new item affecting things. If TPTB use the slide to power it down further, it won't be the first time.

[NHsorter]

[68Camaro]

The pull-back may be over. Gold back over 1750 and climbing. Silver slightly retarded, but back over 33 and climbing slowly.

[frugi]

“The Leader wishes to inform our followers that the group will be demonstrating our ability to move the price of silver between Oct. 16 to Oct. 23, 2012,” according to a post on a Yahoo! Finance message board. “We will be updating our moves in real-time during this period.”
http://www.forbes.com/sites/greatspeculations/2012/10/17/so-far-so-good-on-the-road-to-50-silver/

the above article was found on http://www.coinflation.com

The "group" promises to increase the price of silver vastly during this week, and have it trading at above $50.00 by the end of the year.

--------Is probably BS though....... http://screwtapefiles.blogspot.com/p/wynter-benton-myth.html

[68Camaro]

Be interesting to watch. Maybe someone hoping for a self-fulfuilling prophecy. But I tend to call BS on this.

[uthminsta]

If someone convinces enough of the right people that it's going to happen, they will unwittingly help make it happen. I know I'd like to buy more while it's down here in the low-to-mid 30's. But my wife sure is getting anxious that it hasn't performed they way we had thought it would. We really had the hopes that $50/oz would have been established as a base or normal range by now. Instead it's an unreachable peak.

[Treetop]

I doubt this is legit either, but it isnt impossible imo. Very unlikely, but not impossible.

that said, my "gut" tells me silver will take off relatively soon. im not basing this on any charts or anything, just my gut. I recently put all my reserve cash on the table. Its dropped slightly since then, but I still think we see a breakout soon. And yeah I am silly enough to follow my gut on these things. believe it or not Im usually right enough I do well.

[68Camaro]

Here's to hoping that your gut feeling (and those of others who also seem to think that way) is right on.

[uthminsta]

...my "gut" tells me silver will take off relatively soon. im not basing this on any charts or anything, just my gut...

This reminds me of a scene from one of my favorite movies, High Fidelity. Rob (John Cusack) says he has come to the conclusion his guts have s**t for brains. That is about how I would describe whether I can trust MY gut feelings.

[Silver4face]

BUMP! Many of us here wish that silver was "NOW $44+" Therefore, I ask what would premiums be like now compared to the actual premiums on the date that someone lasted posted to this thread? My guess is that they would be insane. Also, half dollars at banks would be bitterly fought for! Lol

[cwgii]

What do you mean, fought over....they already are

[Silver4face]

True, but I meant MORE competition. I also meant people driving real fast to as many banks as possible and RUNNING through the door to get in line before the other people who are simply WALKING into the bank. Also, newbies would enter the field, making the competition FIERCER.