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

[68Camaro]

PSLV hit my 16.75 stop just now so I'm completely cashed out of my trading positions; waiting for it to drop again to buy back in. At the moment I have one buy order in at 15.4. May drop another one in for the low 16s again.

Still have my core positions in reserve for the later ramp-up: PSLV, PHYS, and CEF.

[68Camaro]

Silver seems to be starting to get into a weird new daily/weekly pattern. Different from the previous run-up. No idea what it means.

[68Camaro]

And here it is, the crush. (Scale is zoomed on on Kitco, not really as bad -so far - as previous ones.) Had thought they might let it float up past 37, but it got close. The market mini-dive of this morning makes for a great excuse to do it.

[neilgin1]

68,
its banding up long time.....in a tight flat band.......thats goooood. Thats how we want it. That skyrocket stuff, what they call parabolic, is fun to watch, etc...but not healthy long term...this band?....wow, its like a stretched out rubber band, the longer it keeps banding, the more power to the pop.

[68Camaro]

That's what I hear some of the people I trust best sayin'

If I try to remove myself from the emotion of this and just sit back and watch as though a disembodied soul, it's fascinating. I've not seen much like this, ever.

[Mossy]

Just an eyeball read, but it sure does look like someone is manipulating silver to try to keep it between 35 and 40 spot. Gold looks a bit, strange, as well.

[henrysmedford]

So far so good for today.

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[Oakair]

Lets go 40+!!

[68Camaro]

Expecting a smack-down by mid-day tomorrow.

[Mossy]

It'll go up to $50 overnight if I sell all my silver again. Sorry, but I'm holding on.

[Country]

Well... Looks like the topic header may have to modified again.... finally!!

The big move up from consolidation appears to be happening about a month earlier than I thought... Oh Well, LET 'ER RIP!!!

[neilgin1]

Well... Looks like the topic header may have to modified again.... finally!!

The big move up from consolidation appears to be happening about a month earlier than I thought... Oh Well, LET 'ER RIP!!!

and rip she will...you can just feel the momentum growing. i've seen many markets, but never one like this, bearing such inexorable power.

if someone offered me S300 an ounce, TOMMORROW, would i even THINK of selling that one ounce...i'm dead serious.

[henrysmedford]

Funny thing the dollar is up too.

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[Rosco]

if someone offered me S300 an ounce, TOMMORROW, would i even THINK of selling that one ounce...i'm dead serious.

I would an then buy Gold as it is also due to rocket

[neilgin1]

if someone offered me S300 an ounce, TOMMORROW, would i even THINK of selling that one ounce...i'm dead serious.

I would an then buy Gold as it is also due to rocket

put your seat belts on my brothers, there shall be extreme turbulence.

[68Camaro]

Yeah guys. What Neil said. Don't freak when it goes up 5, down 10, up 5 again. Long-term trend is up.

This will only hurt you if you buy high on money you don't have, intending to flip, and being unable to wait it out. My advice - just don't do that unless you are sure you can afford to wait it out.

[shinnosuke]

The world turned upside down...these price increases AS the USD strengthens. Use extreme caution.

[beauanderos]

The world turned upside down...these price increases AS the USD strengthens. Use extreme caution.

Yeah... but you forget WHAT the dollar is increasing against. 59% of that basket is the Euro, and another large component is the Yen. Need I say more?

[shinnosuke]

The world turned upside down...these price increases AS the USD strengthens. Use extreme caution.

Yeah... but you forget WHAT the dollar is increasing against. 59% of that basket is the Euro, and another large component is the Yen. Need I say more?

Say no more. I just don't get why the almighty dollar only buys ￥79. 世の中が一体どうなってるの？

[68Camaro]

From some news bulletin info rec'd about yesterday's shorts bidding, and what I see on the charts today, it seems like the shorts (both gold and silver) have made a couple of attempts to stall the current run, but haven't been able to pull the prices down very much for very long. The bull is running this week and they haven't been able to head it off much, yet.

If this isn't the start of the final bull run, it is a snapshot of how it will start.

[beauanderos]

If this isn't the start of the final bull run, it is a snapshot of how it will start.

Oh, I don't suppose we're even CLOSE to the start of the final bull run. My guess? We're going to have three distinct phases of the run-up. First phase, which we MAY be nudging on (but will start in earnest beginning of August) will be fueled by the continuation of whatever configuration they disguise the next quantitative easing as. I think the argument is going to be made that the European banks are too big to fail, and that they can't save themselves, so we step in to prevent a domino effect. This phase will take us to $80 - 90 and then we'll consolidate for a few months. As this phase rolls on, it will become ever more evident how scarce silver truly is. Compounded by a likely default at COMEX, we will next see $150 - 250 silver, probably by December 2012. If we don't have to endure a planetary smackdown towards the end of that month, phase 3 will be catalyzed by true hyperinflation and will first send the price to $500, and then $1000 an ounce. Things could get real ugly at that point, and you'll be needing to hunker down and protect what you have, rather than looking about for the next good deal. Hold onto your core position, guys, if you want to wheel and deal, than at least have your next buy already planned when you obtain FRN's, or just do metals trades. I wouldn't be posting a bunch of pics, or bragging on youtube about the size of your hoard, either.

[68Camaro]

I more or less agree, Ray, as usual. Certainly on the trajectory and order, though timing and exact numbers get real fuzzy for me.

If I really believed that we wouldn't see another turn down below 40 (now), then I would sell ALL my paper silver (PSLV, so quasi-paper), even my entire core position, nail that profit, and plan to re-buy. Not just my trading paper (which I'm currently all out of). My trouble is that I'm believing we're close to the point where we may never see any significant time below 40 again (a brief touch down, especially off-hours, doesn't count). So I'm afraid that if I sell, I'll make a small profit, but would have just sold at the start of the big bull where we never look back. If we never see below 40 again, then this IS the start of the bull, in my book. So I'm holding the core, for now. Thoughts on that?

Next, what nags the back of my brain is where to go with it after the run-up. I can't see that far ahead. Especially the 401K part. Assuming the 401Ks aren't all confiscated (in which case I'm just playing at making money in that account), how do I withdraw it, assuming I've retained my core position which supposedly actually has value in physical? And what do I convert it into? Worthless (truly, by that point) FRNs? If we're than far down the hyperinflation path then what's the end game? There are too many variables, and the rules may radically change between now and then. Not so proud to say it makes my head hurt.

[rsk1963]

Take stock in the fact that you are actually thinking about such things; and are planning some sort of game plan. You are miles beyond the traditional american (which is how we get into these messes anyway).

39 and change now... session lows?

[Treetop]

honestly 68camaro.... Im guessing you and many others have all the PMs you NEED..... not that more doesnt help. But what little I know of your investments this seems likely.

If I were you Id focus on food now.... Lots of ways you can take that, but some can be pretty passive... Your in a great place for such things. dont know if you have land or a yard or what. but if you do Id re focus if I were you. Spend the summer building what it takes for food production and putting in perennial plantings... building the soil in case you NEED it..... I keep meaning to start a thread here on this, because there are a lot of things even non gardeners might be willing to do, especially those who know food prices could skyrocket, or become non existent if we are outbid in the global markets for instance.... food stores are great, but production is where its at.....

Its never a loosing investment either!!!! well not that things cant fail, but cast a wide net to account for that, just like you diversify any investments....

[Coppercrazy]

silver and gold down sharply in afternoon trading,while at the same time the dollar is moving down against most currencies...any theories whats happening?