Here begins another week of trading

[neilgin1]

what do ya'll think; either we crack $30 (on the board) to the upside, or we continue to drift towards support in the lower 20's.

or.....do we trade sideways, mid 20's?

[argent_pur]

I think in the coming days we'll either get closer to 30 or closer to 20 or stay right where we are...man, this prognostication stuff is easy

[TXBullion]

If were talking about copper, any one of the above!! jk, I have no idea but will be interesting to see!

[Ardent Listener]

The markets are opening higher tonight (Sunday). It doesn't look like Friday' sell-off has maintained its momentum.

[Devil Soundwave]

I reckon it'll move down a couple notches to about $24 by weeks end.

[beauanderos]

I think we move cautiously higher this time, maybe thirty to fifty cents a day and then pause a day or two. No more than $1 to $1.50 up per week, breaking $30 by New Year's. But it could move much faster. UK and Japan are in even more danger of hyperinflation that the US... and if they start safe haven buying over there it could haste the depletion of above ground silver stores and accelerate the move.

[stateofmind]

Euro is falling due to confusion over Ireland rejecting aid from the EU. Dollar is rising because of beneficial economic data pushing up treasury yields; many are expecting that our "recovery" is sustainable here in the US.

Official Prediction:
I expect this 1.25% gain in Asia will reverse and we will see a flat day. Another scenario(albeit less likely) is for us to get modest gains today. Not expecting major down days until later in the week.
Still setting price point of silver somewhere in the $22-24 area. When we see that I'll cover my shorts and start buying.

I'm thinking we are going to see a fall in stock prices in the short term. I've sold about a 1/3 of my stock index fund in anticipation of this. I'm aiming to get nearly even with my shorts, which should happen this week. I'll then buy CDE and wait for the next leg to $30.

[neilgin1]

i didnt mean to waffle, or have no spine. my read is we come back down to support in the low 20's...this week.

reason, its going to be a nasty week for equities, and it seems so far, that when stocks get hit bad, the metals trade lower also.

sometime, that relationship will change, but not this week.

the disaster at G20 will impact the week, just my two copper mitess

[misteroman]

I think its going to be soft for a little bit. Would like to see it steady out for a little bit to keep the premiums down for when I'm ready to buy again

[billo]

It's going down toward 20. Going down. Down. (Trying to talk it into going down so I can buy more.)

[theo]

While a retreat to the low twenties is certainly possible, I don't see it as a foregone conclusion. There could some stiff resistance at 25 or so. The "smart" money seems to be getting into silver (and gold) right now with the intention of buying any dips. As Ted Butler points out, physical silver supply is becoming more and more limited, making the shorting of paper silver increasingly risky.

[stateofmind]

Silver pushed down by falling EUR, higher USD 2%.

Stocks seem flat today. Expecting a correction of 3-5% in the market by the end of the week. Sold all of my VIGRX today. Questioning on whether or not Hecla will be a buy at the low $20's price point. I don't think the correction is priced into the stock yet. I will be covering my shorts soon though in CDE and SLW most likely by the end of the week.

Hoping to get in an order of TZA(small cap bear 3x) sometime in the week, maybe as early as tomorrow. Could see s&p 500 falling to 1100ish within a few weeks.

[Devil Soundwave]

UK... ...are in even more danger of hyperinflation that the US...

What makes you say this Beauanderos?

[beauanderos]

Analysts I have been listening to this weekend state that the debt to GDP ratio is even higher in Japan and the UK than it is in the United States, and that despite "austerity measures" in the UK, that you guys are in danger of experiencing hyperinflation from loose monetary policies sooner than we are. How does it feel to be the canary in the mine?

[billo]

Going down.... a little more....

[theo]

Analysts I have been listening to this weekend state that the debt to GDP ratio is even higher in Japan and the UK than it is in the United States, and that despite "austerity measures" in the UK, that you guys are in danger of experiencing hyperinflation from loose monetary policies sooner than we are. How does it feel to be the canary in the mine?

I'm not sure I agree. If Great Britain can service and rollover its debt without having to create money, then hyperinflation can be avoided . . . at least for now. The bigger cause of hyperinflation is money printing, which is happening right here in the U.S. Also Great Britain doesn't have a large chunk of its currency held in reserve by foriegn governments like the U.S. does. When all that money comes back home. . . .

[stateofmind]

Modest gains expected tomorrow. Gains in Asia currently should reverse intraday to being fairly flat, then rebound again to recover yesterday's losses.

ALSO: Lots of pressure on Ireland to accept bailouts. My view is that they will accept some time of deal to shore up the banks, which will cause a euro rally. This will happen soon.

[Devil Soundwave]

Analysts I have been listening to this weekend state that the debt to GDP ratio is even higher in Japan and the UK than it is in the United States, and that despite "austerity measures" in the UK, that you guys are in danger of experiencing hyperinflation from loose monetary policies sooner than we are. How does it feel to be the canary in the mine?

I'm not sure I agree. If Great Britain can service and rollover its debt without having to create money, then hyperinflation can be avoided . . . at least for now. The bigger cause of hyperinflation is money printing, which is happening right here in the U.S. Also Great Britain doesn't have a large chunk of its currency held in reserve by foriegn governments like the U.S. does. When all that money comes back home. . . .

Not sure how I feel about this tbh. Whilst the UK doesn't have huge amounts of our currency held in reserve elsewhere, I suspect any mishaps stateside will affect us greatly anyway (as with the mortgage fiasco).

Regardless, I have some silver, I've stocked up on canned food and water, and that's about all I can do for the moment.

[neilgin1]

Tuesday morn- Asian equities traded bad, Europe's opening bad, and i have a feeling that the usual suspects will use this "opportunity" in silver futures to flush out vulnerable longs, IF said longs ARE vulnerable.

i could care less about futures, there could be a day when that whole brothel defaults, i'm just lookming to be able to get some ASE rolls for $460 (23 per) and see if we can get 90%'ers back down to 16X.

by the by, i am having fun, sorting thru my newly recieved $100FV pre-82 copper pennies. i knew i was smart to save those Maxwell House plastic coffee jars with the "click lids"....and i'm going to the bank and get another $100 boxes of real nickels.

you guys were right, it is fun to pull out the odd Wheatie! found three. too bad baseball season is over, perfect way to listen to a game on the radio....and i was sure glad i bought those latex gloves for the emergency med kit, they are filthy coins!! lol, but copper does look nice.

[beauanderos]

Now CME has announced increased margins in futures for gold, platinum, and palladium as well, pushing down the whole complex... although silver not as much as the others. While on the surface this strengthens the impression to those who don't understand the fundamentals, that precious metals are barbarous relics with little efficacy for preserving one's wealth, one begins to wonder... are "they" beginning to become a bit desperate, and pulling out all measures? Time will tell. They might be able to suppress buying here, but we aren't the only market in the world, and if supply is dried up from elsewhere it will still have the same effect as being caused from here. While prices are held down, it induces even more sidelined money to re-enter the market then would occur if it were just funds following momentum plays.

[billo]

I think it can go down more. Oil is dropping too.

[neilgin1]

1000 AM CST- considering the carnage in equities, etc, AND gold, silver is holding up amazingly well.

[Ardent Listener]

We may see a stonger dollar for a while. It appears it the Euro's turn to sit in the dog house. But don't worry, Uncle Ben will find a new way to drop the dollar again.......... Keeping u.s. out of a deflation, you know.

[neilgin1]

we're not going much of a chance to buy lower.....there's too much underlying strength in this market. $25 and 17X is probably the new floor. you can just see the money coming into silver.

all that said, $25 level is key.

[stateofmind]

Don't know whether to agree or disagree. I can see it dropping more, but the charts are beginning to scare me.
I covered half of my short positions in CDE and SLW near the end of the day, took a small loss.
I think we are about to see some weakness there, yet tomorrow will be relatively flat.
Bought 420 shares of FAZ at $11.89, its almost a guarantee they will be gone by Friday's close, loss or gain. If I can cover my shorts with a gain or no loss this week, I will be willing to do that too.
I'm not seeing the bottom at $25, I still hold onto $22-24.

Also wondering what Ireland will do. I still feel that they will accept some form of bailout.
http://www.nytimes.com/2010/11/17/business/global/17europe.html?src=busln