Realcent.org

Its testing 22. Where is the next resistance?

$21 - old high in 2008. After that it's Rodebaugh's $18 level where the breakout occurred in the fall of 2009. Lower than that is NOT GOOD!!

Some say 17, some say 18, some say 21... maybe it's 9

I vote for it dropping to 19......for a short time, then back to this 21-22 range for a few months.

Country wrote:$21 - old high in 2008. After that it's Rodebaugh's $18 level where the breakout occurred in the fall of 2009. Lower than that is NOT GOOD!!

Looking at the chart, I see a breakout around $18 in summer or fall 2010... I don't see a real breakout in fall 2009.

$9 ---------- Time to look for windows to jump out of ? AAAAAAAAAAAAAARRRRRRRRRRRRRRRGGGGGGGGGGGGGGGGGGHHHHHHHHHHHHHHH!!! Tough sledding for us barbarians...

I'm hoping for $5/oz....just sayin'

I'm not worried in the least, as I recently diversified my holdings. I have both Mercury and Roosevelt dimes.

SilverDragon72 wrote:I'm hoping for $5/oz....just sayin'

Not me - If it goes that low, it will take 20 years to come back. Can't wait that long!!! I'm too old... If you're a young guy, maybe you can wait out the 20 years.

Morsecode wrote:I'm not worried in the least, as I recently diversified my holdings. I have both Mercury and Roosevelt dimes.

This bit of levity was perfect.

Morsecode wrote:I'm not worried in the least, as I recently diversified my holdings. I have both Mercury and Roosevelt dimes.

As for the price of silver, I'm surprised we haven't seen a repeat of '08 yet.

Morsecode wrote:I'm not worried in the least, as I recently diversified my holdings. I have both Mercury and Roosevelt dimes.

This put a big smile on my face. Good post sir

Wow, that's a lot of shorts! I take it the big banks are holding most of them?

Veily intelesting chart. Yep mainly JPM and HSBC plus a few others.

Ya think the increase in shorts is because more people are going physical outside the paper game but then also hedging, or because TP are just trying to grind it down, or a combo maybe? If institutional money is really getting into gold I suppose they'd more likely be hedged than your average stacker. I know Kyle Bass is a physical guy and he has a trillion or something at his disposal. That's about 30 times the silver market cap!

Apparently the drop on Sunday got pretty darn close to $20 before snapping back, and on very tiny volume at that. The paper longs got their stops triggered (again), booya! These guys don't really seem concerned about the longterm supply picture if the price stays at or below fair value.

Au and Ag are up while the eastern markets are taking a nose dive. Hold on for the ride, folks...things are about to get interesting.

Country wrote:$9 ---------- Time to look for windows to jump out of ? AAAAAAAAAAAAAARRRRRRRRRRRRRRRGGGGGGGGGGGGGGGGGGHHHHHHHHHHHHHHH!!! Tough sledding for us barbarians...

If it drops to $9.00, I will jump...... in the car and go buy me some more. Sooner or later this financial runaway train will hit the sh*t fan.

Oh, before you do jump out a window could you leave your stack to me in your will.

Engineer wrote:http://www.zerohedge.com/news/2013-05-22/they-better-pray-there-no-short-squeeze

Note that the increase in SHORTing coincides with the most recent case against JPM for manipulating the precious metals market that was dismissed for lack of evidence. It was dismissed because there is no regulation that makes a massive ongoing short position (which was inherited from Bear Stearns) illegal. Certainly, we can assume that most of the SHORTing is NAKED SHORTING, which destroys the price discovery of a market.

However, exongenous events such as the 7% DROP in the Nikkei stock market yesterday, may make them a bit hesitent in adding further SHORTs, as the Japanese use their YEN, not to buy UST, but GOLD. A stock market contagion, worldwide in nature, will create a flood of fiat looking for a new home. Notice that UST are not increasing in value today.

Country wrote:... However, exongenous events such as ...

OK - I'm not a complete idiot but I still had to look up "exogenous" (I presume you had an extra n in it, otherwise I'm not sure what you meant) to be sure I understood it. A word I've not ever used. I'll have to try it on my wife tonight!

Country wrote:

SilverDragon72 wrote:I'm hoping for $5/oz....just sayin'

Not me - If it goes that low, it will take 20 years to come back. Can't wait that long!!! I'm too old... If you're a young guy, maybe you can wait out the 20 years.

How about $5/oz for about a year? Give us all a great opportunity to back up our collective trucks to stack!

Will our country exist like it is now in 20 years? I'm guessing our debt will be close to 50 Trillion by then.

It'll be interesting to see where prices wind up headed into the holiday weekend. Will they be up to discourage trade, or down to affect sentiment? My gut feeling is for the former.

I did not delete any posts. Another mod/admin deleted a post noting that they did not want another flame war to break out. The log does not keep the content of the post so I don't know what it said.

When I looked through the log for the last month I found all of 2 posts that were deleted by someone other than the original author. Jonflyfish's conspiracy theory about "controlling the narrative" is completely unfounded. If that were the case, I would have banned him and deleted ALL of his posts a long time ago. It would be a lot easier than dealing with all the "reported posts" and PM complaints I get about him. The fact he's still here is a testament to how tolerant we really are. Though he is quickly wearing out his welcome by harassing forum management...

Sideways into the close was good enough for me. Fractional gold premiums* are down 3% during the last week to 8% over spot, while 90% has stayed flat at an 11% premium over spot.

* Based off APMEX buy prices for 90% and 1/10th eagles.

- edited for clarity -

68Camaro wrote:

Country wrote:... However, exongenous events such as ...

OK - I'm not a complete idiot but I still had to look up "exogenous" (I presume you had an extra n in it, otherwise I'm not sure what you meant) to be sure I understood it. A word I've not ever used. I'll have to try it on my wife tonight!

exo - outside
genous - beginning

Gold shorts have risen 25% in the last three weeks.

http://www.zerohedge.com/news/2013-05-24/forget-prayer-its-lamb-slaughter-time-rational-mans-response-all-time-high-gold-shor

"....paranoia will destroy ya...."