Silver Market Update

[Country]

Sobering...

http://www.kitco.com/ind/Maund/20130214.html

[beauanderos]

Sure... his read of the recent action is grim, but in manipulated markets technical analysis is worthless as a tool to gauge direction. They can paint the tape anyway they wish too, and all too often the price is subjected to counterintuitive spikes.

[mbailey1234]

I'll go ahead and take all you want to sell at $26. Might as well get it shipped before the next postage increase...

I'm a bit of a contrarian on the markets. The more negative news that is floating around there for the bulls or bears, the more likely we will see action in the opposite way. Right now, it's getting mighty hard to find much positive sentiment in the PM's (short term anyway) but aren't most of us stacking for the long haul anyway? I actually increased my long exposure quite a bit today and just missed the low. If it drops another 4% I plan on adding that much again. Only theory or view was that I think it will be a good purchase by the end of the year.

[neilgin1]

Sobering...

http://www.kitco.com/ind/Maund/20130214.html

Country, you're the man, you're a mod around here, a man of respect. The reason i write this, i dont want to seem contentious, but i think the report i read is just about the best darn news i've read today.

how so?

the longer the window to stack stays open, the more advantageous it is for all of us. Let me quote some out of the article:

If silver does go on to break down below the strong support level at $26, it will be very bad news indeed, as such a development could be expected to trigger a brutal plunge, and there is a scenario in which this could occur as set out in more detail in the parallel Gold Market update.

"very bad news" to whom?....i can see if one is long X amount of Comex silver futures, YES, it would be "bad news", but from my seat here, speculating on silver futures,is not the wisest course of action. i wish no one here, ill will, but either one speculates to invest to achieve profits...or one buys physical silver to insure their currency.

Leadership has failed us, and failed us miserably, and we can either march to the tune of the sheeplings, powerless, and at the whim of some pretty morally bankrupt greedy men, or we can do this workaround, and continue in our way to find an alternative to insure that our families live a whole life. i choose the latter.

"brutal plunge"? BRING IT!!! if they want to slam silver down to 20...15...or as impossible as it seems $10.....i'll put on a party hat, paint myself blue like a Pict, and dance, while i buy anything in sight that i can my purse allows! Yee......Haw.

as having traded futures, what the gentleman writes next i understand in context, but frankly, i get glee out of reading this:

The latest silver COT chart should strike fear into the hearts of silver longs, although it usually doesn’t because they either don’t understand it or ignore it, preferring instead to march to the drumbeat of their favorite cheerleaders, one of whom recently described silver as “being on the precipice of a massive (upside) breakout”, a choice of words that could come back to haunt him.

"strike fear"?........as experience dictates, my counsel to anyone and everyone is do not trade silver futures, as every single institution, you and i have been led to believe is square and trustworthy, is a LIE.....ITS A LIE.

within the ranks of power in America, whether it be politicians, bankers, think tanks, military, business, judiciary...the whole spectrum, you will not find ONE patriot, who loves this country, the ideas we once stood for, being upright, truth tellers....not one of them. Their only concern, democrat and republican, is how best they can line their pockets, bleed the nation, accumulate power....and then they flee to some warm weather "haven", once the lid comes off the pot. these men and women have wrecked dynamic capitalism, oliograchs who view us as just livestock, or less than to them.

Forming, slowly, surely, are a new generation of men and women, like Thomas Jefferson, Patrick Henry, Benjamin Franklin, etc.

They're out there, they might six years old, or 22....we dont know.

i realize that i veered a bit, (lol) but as i see it, a nations currency reflects the health of the body politic. and we who stack, are part of a quiet rebellion....a vanguard so to speak. remember, a fire always starts with the tiniest spark in the most unlikely of places.

much respect to you sir, n.

[scyther]

Interesting article. I'm not scared by it. Ever since silver peaked around 34-$35 in Fall and failed to go any higher, I've been acting under the assumption that we'd see the 26-$28 range again in the fairly near future, and ever since the price spike in August I've been looking forward to buying more at that price again. I've bought a little bit here and there... I think just twice since then actually... in case it didn't happen, but I've been keeping most of my "powder" dry for lower prices.

Breaking the $26 support would definitely scare me, and I don't want it to happen, but I still have a good deal more paper than metal at this point, and a deflationary spiral could be a great buying opportunity on a lot of fronts

[NDFarmer]

"brutal plunge"? BRING IT!!! if they want to slam silver down to 20...15...or as impossible as it seems $10.....i'll put on a party hat, paint myself blue like a Pict, and dance, while i buy anything in sight that i can my purse allows! Yee......Haw.

From your lips to God's ears!!! Silver can't get low enough for me. I'm stacking for the long term. 10 - 15 - 20 years out.

[pennypicker]

From your lips to God's ears!!! Silver can't get low enough for me. I'm stacking for the long term. 10 - 15 - 20 years out.

I'm on the same page. I dream for the days when I used to visit my LCS and cherry pick through his box of circulated Peace dollars at $14 each and occassionally find an AU--and it really wasn't that long ago!!

[OtusLotus]

What does COT mean? In the article, he references it several times.

thanks