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Looks to me that Country will be proven right in his long time conviction that silver would break $50 before May. Hats off to Bill... way to go Nostrabillus!

slickeast wrote:HERE are the BIG questions.

Will we see $50 this week?

Will it hit a new historical high?

I couldn't wait for $50.00 silver until someone pointed out that when the Hunt/1980 deal happened it went to as high as $50.35 per ounce. When you adjust that for the value of the dollar in 1980, we need to get to somewhere like $104.00 per ounce before it is equal to the purchasing power of the dollar in 1980. So, it may be a "historical high" but not in "real" terms, only in fantasy terms. We need to pass the $100 mark, and go up 50% more before I would consider it to be a historical high when you figure in inflation, or whatever.

beauanderos wrote:Looks to me that Country will be proven right in his long time conviction that silver would break $50 before May. Hats off to Bill... way to go Nostrabillus!

Thanks...

Actually, my projection was for SILVER to reach $51+ sometime in May. I based that on the strength of the previous ramp up of SILVER from $16.63 to $30+.

The big question is what happens now. I don't see a correction right now, but SILVER certainly needs a pause. However, there is no reason why it couldn't go EXPONENTIAL - say up $5-$10 for a few consequtive days reaching $75+ fast. It could be that the banksters are covering and running for their lives. If so, we'll see $100 SILVER in the next few months.

Everyone strapped in for the ride of your lifetime....

aloneibreak wrote:silver up big on the asian open...

dollar down

Actually Kitco seems to be catching up with what Goldsharks had on Friday. According to Goldsharks silver is down 12 cents this evening. The real question is will the European and U.S. markets confirm what as happened.

I wonder how many of these new silver buyers we've been hearing about are bank execs who are aware of how bad the physical shortage really is.

http://finance.yahoo.com/banking-budget ... et=&ccode=


The first step in replacing the dollar as the world reserve currency is underway.... silver is up nearly 5 bucks since i first read this article. I am sure the big players have this in mind. srange as it might seem, i dont think we will see a big correction anytime soon with such news out. Perhaps Im dead wrong though....

beauanderos wrote:Looks to me that Country will be proven right in his long time conviction that silver would break $50 before May. Hats off to Bill... way to go Nostrabillus!

Nostrabillus indeed!

Well I'll be. Good thing I sold all that silver this weekend.

Rodebaugh wrote:Well I'll be. Good thing I sold all that silver this weekend.

And we thank you for it

there are lots of new buyers buying physical at coin shops but that market is only loosely related to the short squeeze on the comex. what happens this weekdepends on the big boys.

Lemon Thrower wrote:there are lots of new buyers buying physical at coin shops but that market is only loosely related to the short squeeze on the comex. what happens this weekdepends on the big boys.

Yes, some of my crew that were buying rolls this weekend, told me of crowded coin shops.

Wow! They are offering pretty close to spot (34.4 x fv @ 47.58). Of course the Asian markets are now trading at over 48.50 which would be closer to 35 times face

Its over 49.50 now.

I am flipping out here, it's up over 3 bucks in the foreign market!

I was just talking to my brother on the phone when I refreshed the chart and saw $49.81. I almost fell out of my chair! I think a central bank or some group of Billionaires are buying silver in the Asian markets tonight. What are your thoughts?

This is stunning. Every single day the technicals get worse and worse; and in fact this is one of the worst charts I've EVER seen. I'm just glad I'm out of the paper.
Please guys, at least take some profits. At least STOP buying.
If this transfers over to New York in the morning we could be approaching a blow off top which could cripple many. If you are determined to hold your longs, widen your stops. Don't be afraid to profits. Turbulence is coming to this PM rocket, and I think we will see numerous whipsaws which will decimate your stops.

If this does crash; be prepared for an amazing buying opportunity. This market is fascinating to watch; I feel like I'm a psychiatrist evaluating a mentally deranged maniac.

I think da boyz in New York will try their best to crush this today, will be very interesting to watch. I know I'll be glued to the screen. Dean could very well be right, might want to pull at least a little off the table even if you're confident that the long term direction is still up, near term volatility looks to be certain.

Earlier in this thread I brought up the $50.00 range as a possibility based on the rumor of the payouts to buyers of Physical Silver not receiving their orders. Is this ceiling artificial based on this? Or is this more complex than that? If it is the former, then this is sheer manipulation; it if is the latter only God knows where we go from here. If this process is legitimate, then $50.00 means nothing; it could go exponentially higher or lower.

i see 49.06 on my ticker

Dropping fast now, lost a dollar an ounce in less than a minute. (about)

This is it! We've reached the peak, and it's going to plummet now. Quick, everyone sell all your silver before it's too late! Sell it to me, I'll sacrifice myself to save you all!

For now, the weekend/early morning spike was a holiday thin trading anomaly. Stablization and continuation of the trend should resume from around the current $47-$48 level.

Be patient everyone; a new all time high in SILVER is coming very soon...

DeanStockwell wrote:This is stunning. Every single day the technicals get worse and worse; and in fact this is one of the worst charts I've EVER seen. I'm just glad I'm out of the paper.
Please guys, at least take some profits. At least STOP buying.
If this transfers over to New York in the morning we could be approaching a blow off top which could cripple many. If you are determined to hold your longs, widen your stops. Don't be afraid to profits. Turbulence is coming to this PM rocket, and I think we will see numerous whipsaws which will decimate your stops.

If this does crash; be prepared for an amazing buying opportunity. This market is fascinating to watch; I feel like I'm a psychiatrist evaluating a mentally deranged maniac.

But doesn't technical/chart analysis pre-suppose a largely unfettered market? It is very possible that silver could be adjusting to a "new normal" due to the manipulation-induced shortages we've been reading about for the last two years.

Having said that taking a few profits and building a cash position may be well advised. Personally, I'm worried about the end of QE2 in 6 weeks.

It sure is a great morning if you own a silver mine...

Silver bull just can't stop running so easily fellas... we were grinding higher, you can expect a quick breather here and there, but this silver run is going to be tough to stop in its tracks