Silver - $27 going to Zero! Call your boss..beg for job back

[68Camaro]

4th consecutive higher.....

Yet Doc the bear could only muster a sideways in the title.

you will not see me "backing up the truck" at this level.

I wouldn't bet my life that we just saw the generational low, but stockpiles appear to be depleting somewhat and some mines are closing because they are no longer generating cash flow. you have to go with your convictions.

I'm thinking we're going to retrace late 2010 and early 2011 (with some dips in there) but will test $50 by late Spring 2014 or earlier. Regardless, I'm accumulating. PMs and long term storage food preps.

[Rodebaugh]

Doc,

It's all perspective. A long time ago people thought if you went too far out into the ocean you would fall off of the earth. The Earth also looks flat from outer space.

And something you will understand. The girl across the bar starts looking better and better with every beer.

Its all in how you look at things

Solid post.

So to Ray, Barry, or any other paper player.......is today a buy uslv or zsl day? Where are we tomorrow?

[beauanderos]

Doc,

It's all perspective. A long time ago people thought if you went too far out into the ocean you would fall off of the earth. The Earth also looks flat from outer space.

And something you will understand. The girl across the bar starts looking better and better with every beer.

Its all in how you look at things

Solid post.

So to Ray, Barry, or any other paper player.......is today a buy uslv or zsl day? Where are we tomorrow?

This has already run higher than I expected... I have an order in for more shares of ZSL at $82.66. Once I show a profit on my current ZSL (bought at $92.97) I'm going to start taking smaller profits on the downside, playing a thesis that scyther pointed out earlier. I think we're still rangebound in a $1.50 channel, but it is beginning to trend upwards.

[Rodebaugh]

15:40 Buy 100 ZSL @ 83.55

[mbailey1234]

It's been a while.... Getting close to being back to sea level after that roller coaster ride down.

Here's my approach to protect part of my position. Bought about 40 days for right at $0.30 option premium with a max loss of $1.87 from the $20.5824 point on SLV. I'm holding for $25 but also see the possibility of new lows along the way....

SLV - 12:24:45
Sold 300s @ $20.5824 - Total: $6,167.61

SLV 19.00 SEP 13 C - 12:22:36
Bought to Open 3c @ $1.87 - Total: $571.75

Only time will tell!

[Rodebaugh]

Whataya make of this Raymond?

http://www.forbes.com/sites/marketnewsv ... l-xlp-xsd/

[scyther]

Not really up today, but more importantly, not down! I expected it to drop. I glad it was able to hold it's gains.

[Country]

Sold your ZSL yet?

[Country]

Melt up in progress... The black hole from $26 to $22 on the way down should be the void of resistance on the way up! If so, the jump higher will be very quick indeed...

GOLD cruising above $1350 will be the catalyst...

GOLD NOW $1350 !!

[Rodebaugh]

Sold your ZSL yet?

Not yet.......but I am watching it like a hawk.

[SoFa]

Unfortunately it's going to need to go back down eventually to fill in the gaps.

[68Camaro]

I'd like to get excited but I'll be too focused on trying to balance resources to see how I can further add to the stack before prices rise back into the 30s for silver and 1600s for gold.

[scyther]

It's hard not too, but I don't think we should get too excited until gold makes a new post-june-crash high. Silver has, but gold hasn't. I agree that IF it can get over the $22-23 range, it might quickly go up to 26. But the resistance there should even stronger. I would be VERY surprised to see 27+ without some outside event propelling it that high.

[68Camaro]

Silver spent most of two years at 30+, very recently, so why anyone would be surprised that we'll see it there again? Not sure if it'll be "soon" but I'd take a modest bet that we'll see it there again by next year.

[shinnosuke]

Quick, somebody smarter than me tell me if I should back up the truck. Is the last time we'll see silver in the $21.XX range?

[CardsNCoins]

Quick, somebody smarter than me tell me if I should back up the truck. Is the last time we'll see silver in the $21.XX range?

Ask Barrytrot.

Just kidding with you Barry.

[shinnosuke]

Quick, somebody smarter than me tell me if I should back up the truck. Is the last time we'll see silver in the $21.XX range?

Ask Barrytrot.

Just kidding with you Barry.

I said "smarter" than me.

Just kidding with you Barry...not.

[Sheikh_yer_Bu'Tay]

Quick, somebody smarter than me tell me if I should back up the truck. Is the last time we'll see silver in the $21.XX range?

Ask Barrytrot.

Just kidding with you Barry.

I said "smarter" than me.

Just kidding with you Barry...not.

No offense meant Barry. It's just funny!

[NHsorter]

Quick, somebody smarter than me tell me if I should back up the truck. Is the last time we'll see silver in the $21.XX range?

Ask Barrytrot.

Just kidding with you Barry.

I said "smarter" than me.

Just kidding with you Barry...not.

Yeah, I just laughed out loud at this and got a funny look. Guess I should get back to work.

[Rodebaugh]

Quick, somebody smarter than me tell me if I should back up the truck. Is the last time we'll see silver in the $21.XX range?

Probably not smarter than you. Good looking, yeah probably better at that.....but not smarter.

But here is what I am doing. Buying at targets

50 ounces at 22
50 ounces at 23
50 ounces at 24
ect.

Or

50 ounces at 22
50 ounces at 21
50 ounces at 20
ect.

It spot holds for more than 2 months in the 20-23 range where I have already purchased my 50oz lots ....buy another 50 there.

[shinnosuke]

Quick, somebody smarter than me tell me if I should back up the truck. Is the last time we'll see silver in the $21.XX range?

Probably not smarter than you. Good looking, yeah probably better at that.....but not smarter.

But here is what I am doing. Buying at targets

50 ounces at 22
50 ounces at 23
50 ounces at 24
ect.

Or

50 ounces at 22
50 ounces at 21
50 ounces at 20
ect.

If spot holds for more than 2 months in the 20-23 range where I have already purchased my 50oz lots ....buy another 50 there.

Best advice on realcent this year. Takes the sense of panic right out of the air. Very good, Doc. And, yes, I admit defeat in the looks category.

[Rodebaugh]

Country......I just closed out my ZSL @ 78.55.

[Country]

Melt up in progress... The black hole from $26 to $22 on the way down should be the void of resistance on the way up! If so, the jump higher will be very quick indeed...

GOLD cruising above $1350 will be the catalyst...

GOLD NOW $1360 !!

SILVER NOW $22.55 !!

I do not believe PM gaps will need to be filled, as we are coming out of the PM black hole in a violent way. As the PM momentum increases, resistance levels above will be taken out quickly. The US stock market looks weak. Sentiment, ever so bullish for so long, appears to be collapsing. Sometimes it's all about sentiment, and the herd moves in a panic one way or another.

[Country]

Country......I just closed out my ZSL @ 78.55.

Good Move! It's now dropped to $72.11 !!

[InfleXion]

Broke $23 for a minute there, and yes stocks look weak, but it isn't just that. It appears that money is rotating out of stocks and into metals. This burst in price came in the NYMEX only so I have to wonder if it was JPM further increasing their long position? And is the fundamental shift we've been expecting finally underway? This could just be the beginning, but this market has trained me not to get too excited.

Melt up in progress... The black hole from $26 to $22 on the way down should be the void of resistance on the way up! If so, the jump higher will be very quick indeed...

GOLD cruising above $1350 will be the catalyst...

GOLD NOW $1360 !!

SILVER NOW $22.55 !!

I do not believe PM gaps will need to be filled, as we are coming out of the PM black hole in a violent way. As the PM momentum increases, resistance levels above will be taken out quickly. The US stock market looks weak. Sentiment, ever so bullish for so long, appears to be collapsing. Sometimes it's all about sentiment, and the herd moves in a panic one way or another.