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

[aristobolus]

Something tells me that the market may reach towards the $30 handle. Perhaps I'll be 100% wrong.

Cheers

Some of us are just having fun looking towards the $50.00 mark. As for me, my hope is in God. I am prepared to be rich, or poor for His sake. Ultimately such things are out of our hands; we are not even guaranteed tomorrow. So whether this thing skyrockets or shrinks I am secure. However, I do fear for my country''s well being. The times they are changin...

I do wish you well! Keep on Fly Fishing for FRN's! Cook'em up, eat'em, and produce bricks...of silver and gold that is!

[slvrbck]

So I've been hearing alot about $1500 gold yesterday but havnt seen it??? I didnt see it on Kitco, didnt see it on goldprice, and didnt see it on monex. . . the three i usually check. Just curious where this 1500 break happened. It looks like it really wants to and if it does solidly bust through today I could see silver taking a nice jump to the upside as well. It seems like almost EVERYONE (including new buyers everyday) are waiting for silver to pull back a little so they can buy more. Seems awfully bullish to me. . .

[slvrbck]

Wow, that was kinda weird. Right after publishing that last post I flipped over to kitco and then goldprice and both of them had gold jump through 1500. . . i mean it was like instantaneous!!!

[slvrbck]

well, i am sitting here watching them charge up and something occurred to me. . . how the hell do you put a fair valuation on silver at this point? I mean to me, $35 silver sounds just as rational as $48 silver. $56 silver. . . ??? $28 sounds a little cheap and $72 sounds a little expensive, but compared to what? I dont know, im bored and just thought id throw it out there.

[68Camaro]

Maybe you needed to hit refresh on your browser.

[Lemon Thrower]

I will say this regarding a correction: Even though he won't admit it, when Jon talks, you better listen. He has an excellent track record, and whether you agree with him or not, I'd be very leary about buying here. I got stopped out right at the market open Monday(from a silver short position).
Initiated a put spread today in SLV;

June 11 puts
Bought 44 puts today at 3.15
Sold 38 puts for .79.
Cost me $236/contract; 42 contracts. Total price $9900.
Max profit: ~350/contract, $14700
Max loss: 236/contract, $9912.
Breakeven ~43.


The reasons are all the same; yet they are more extreme. Force index is higher; ADX is too high; +DI is extremely high; -DI is extremely low. We have broken way too high off the 10 EMA...the question is whether the market continues to act irrational.
I set my max profit target at 38...although I could see us dipping lower.

Good luck all!

Dean, what software do you use to graph your trade like that?

I have been following SLW Jan 13 options. Have sold 55 puts and bought 55 calls. bought 35 puts just to put a floor under my risk. the stock has been range bound between 40 and 45 but eventually it will explode.

[Lemon Thrower]

Maybe you needed to hit refresh on your browser.

i run firefox and have clement chu's live gold add on in my status bar. it updates every 10 seconds and i don't have to keep going to kitco. i also use his live etrade for a few key stock prices.

[henrysmedford]

Maybe you needed to hit refresh on your browser.

i run firefox and have clement chu's live gold add on in my status bar. it updates every 10 seconds and i don't have to keep going to kitco. i also use his live etrade for a few key stock prices.

I use this one click on photo for full view.https://addons.mozilla.org/en-US/firefox/addon/live-gold/

gold.jpg (152.21 KiB) Viewed 908 times

Also right look what they are buying junk for!!!!!

31.jpg (193.03 KiB) Viewed 901 times

[Lemon Thrower]

yes, that is the one i use. he also has one for stock prices called live-etrade.

[Roadrunner]

Why not just use Kitco's live Gold, Silver, Platinum, etc. chart?

[68Camaro]

And now we've officially touched $45...

[Rodebaugh]

yep $45

[Lemon Thrower]

Why not just use Kitco's live Gold, Silver, Platinum, etc. chart?

i have this one bookmarked

http://www.kitco.com/images/live/silver.gif

but when i am working in another window i like to be able to check the prices in the status bar. you can also set alerts.

[AGCoinHunter]

Someone please for the love of God update the title of this never ending thread. We now stand over $45.

[Country]

$51+ sometime May.... Predicted by me months ago, may be here soon.

Boy, SILVER jumping faster than I can.

[inflationhawk]

"Enjoy it while it last, kid. It never does."

Lou -- Wall Street

[68Camaro]

Someone please for the love of God update the title of this never ending thread. We now stand over $45.

It's been done, but believe that "someone" has to be the person who started the thead (Country), or an admin-type with higher privileges.

[68Camaro]

It didn't just pass 45, it blew thru it. This is a fascinating show to watch. I can hardly keep my eyes off of it. The often disparate positions of Jon and Dean vs Country and I, may actually both come true this week. Not impossible that we could see both 50 this week as well as a big (though temporary, I think) pull-back. Though I think more likely back to recent levels of 40ish, rather than 30ish. No matter. I'm still buying.

[Roadrunner]

Silver SKYROCKETING!!!!!

$32.70!!!!

Ok, I nominate this for dumbest-sounding quote of the year considering what's happened over the past month.

It seemed so high at the time...

[68Camaro]

Silver SKYROCKETING!!!!!

$32.70!!!!

Ok, I nominate this for dumbest-sounding quote of the year considering what's happened over the past month.

It seemed so high at the time...

Well keep that in mind if it pulls back to the low 30s, because low 30s is still higher than we were in January, just 3 months ago.

[Jonflyfish]

Many cheers about the fiat price of silver. But, as they say, if you buy when it is up or down and don't care, then it is a curious exercise.
I know many will say up up up and if it goes down that is great too- buy buy buy. However, history shows that big adverse price swings have caused many here to get quite nervous.
I could only caution those who ARE tied to the price. The pendulum is preparing so swing back the other way and it will stun many.
You can look back and be excited about history, but it is history. There is a big defense building and the markers are aligned for the propensity for rapid price decline.
Perhaps I'll be 100% wrong. Something tells me otherwise.

[68Camaro]

Many cheers about the fiat price of silver. But, as they say, if you buy when it is up or down and don't care, then it is a curious exercise.

Would be very curious if the cash was just laying around and buyers were choosing to buy high while leaving cash on the side, so they could buy more later at a higher price. But most of us have to raise cash over time. At least I do. If I'd had last summer the available cumulative cash that I've spent buying over the past 3 months, I would have bought 2x as much at $17.99, instead of the bit that I did then, with what I had at the time.

I know many will say up up up and if it goes down that is great too- buy buy buy. However, history shows that big adverse price swings have caused many here to get quite nervous.

Very true. I've found some of that a bit surprising as the changes have been modest and quick, so far.

I could only caution those who ARE tied to the price. The pendulum is preparing so swing back the other way and it will stun many.
You can look back and be excited about history, but it is history. There is a big defense building and the markers are aligned for the propensity for rapid price decline.
Perhaps I'll be 100% wrong. Something tells me otherwise.

I will keep your caution in mind. I plan to hold my current physical regardless, for the foreseeable future, but my ETFs I am holding less tightly.

v/r 68Camaro

[Lemon Thrower]

open interest in comex silver reported a decline which strongly suggests this is a short covering rally. what that means is subject to interpretation. on the one hand, it suggests a temporary spike. OTHO, if the PTB is covering now, then it suggests they have lost their ability to cause a drop.

[beauanderos]

Nearly everyone is predicting a pullback, or wouldn't be surprised by one. What people don't realize is that as a parabolic rise develops, what may constitute a pullback is merely what used to be termed consolidation... that is instead of a drop we move sideways, and if there are pullbacks they are of lesser magnitude and shorter duration. Not saying we're experiencing a parabolic move at this time, but we're certainly seeing some momentum develop. That will attract new money, so the rise could continue and accelerate at the same time. Sure is fun to watch. Ironic, isn't it? The purchasing power of fiat is vanishing just as silver as a resource is. A potent combination for price discovery.

[justj2k78]

My entire outlook is long term. In my retirement accounts, I deposit a set amount every payday to buy stocks and bonds. If it's high, if it's low, it doesn't matter. X amount is put away.

I'm very new to silver. But my plan is the same. I will buy high, I will buy low, and I will do it every payday. (well, I'll set aside the money every payday and bargain hunt). I have no idea, right now, if I'm buying high or buying low. I don't put a lot of credence in anyone's predictions for the future - and no offense is intended to anyone by that. My knowledge of silver is less than probably ALL of Realcent. I learn a lot here.

But one thing I've learned in life is that the markets aren't easily figured out. And if I'm right this time, chances are, I'll be wrong next time. So I ride the waves. I don't make guesses. I pick assets I like, I invest, and I hold them long term. For me, this is a marathon, not a sprint.