The churn continues

[slickeast]

Another day in the churn

[beauanderos]

why should today be any different?

[thesilvertiger]

why should today be any different?

It won't be. But.........ONE ......day........!

[68Camaro]

Yep, we are still churning, but some slight differences at this week's close that might (or might not) be significant. Gold didn't stay down during the beatings - and is now at a recent high of $1270 and they've not been able to keep it below their recent $1250 max target. Silver is still being affected - they were able to cap the gains this week and push it down, but they couldn't get it down as far and the low is creeping up. If we consider the week's close a low, it's now hitting a cycle low of $20 instead of $19 or less.

Given the equity market drop this week (small, but I heard a tinge of panic in the voices of the MSM commenters last night, which I thought was odd given that it was a minor 2% drop), this is some small change worth watching. Let's see what the Asian market opens do Sunday night.

[beauanderos]

why should today be any different?

It won't be. But.........ONE ......day........!

And when that day comes... silver will shoot up $2, $3 in a single session. You'll kick yourself for not buying the day before, and your jaw will drop at how rapidly all the precious metals are rising. You'll think "maybe I should stop fence sitting and actually buy something," but it will be too late. You'll go to the buy section and see that nothing is listed... or as soon as something is it's only up for a few moments before selling out. It will be TOO LATE to buy! When that rocket launch ignites, if you aren't already ensconced in the cockpit... you'll be one of the mournful masses scorched by the gouts of flame as she lifts off.

It's one thing to be ignorant of the pitfalls of fiat... it's totally another to be a knowledgeable member her attempting to outguess the markets to achieve that last few cents of a better buy, knowing that some day a sudden revaluation of the metals was going to occur once the manipulations stopped, and to be caught out of having made a purchase with money intended for that purpose because you were still waiting for the "best" entry point.

[pennypicker]

Silver is still being affected - they were able to cap the gains this week and push it down, but they couldn't get it down as far and the low is creeping up. If we consider the week's close a low, it's now hitting a cycle low of $20 instead of $19 or less.

Good eye. Being a newbie forex spot silver trader I track silver diligently and in recent weeks $19.50 has been my personal support level with $20.30 being resistance. This week with silver creeping upward I have adjusted my support level to $20.00 and maintained resistance at $20.30. Currently $20 silver and below is a good buy (both physical & paper)--heck it cost that much just to mine it--at least that's what the mining CEO's say

[thesilvertiger]

why should today be any different?

It won't be. But.........ONE ......day........!

And when that day comes... silver will shoot up $2, $3 in a single session. You'll kick yourself for not buying the day before, and your jaw will drop at how rapidly all the precious metals are rising. You'll think "maybe I should stop fence sitting and actually buy something," but it will be too late. You'll go to the buy section and see that nothing is listed... or as soon as something is it's only up for a few moments before selling out. It will be TOO LATE to buy! When that rocket launch ignites, if you aren't already ensconced in the cockpit... you'll be one of the mournful masses scorched by the gouts of flame as she lifts off.

It's one thing to be ignorant of the pitfalls of fiat... it's totally another to be a knowledgeable member her attempting to outguess the markets to achieve that last few cents of a better buy, knowing that some day a sudden revaluation of the metals was going to occur once the manipulations stopped, and to be caught out of having made a purchase with money intended for that purpose because you were still waiting for the "best" entry point.

Oh Mr. Beau,
That ONE day was not sarcasm. I truly believe that day is coming. This sub-$20 sale will not last forever. I also know that I am no where near smart enough to time any type of market. Until two weeks ago, there was no "fence post" sitting in this camp. I would buy at least twice a month from my LCS. I think he knew the sound of my work truck pulling into his parking lot. I bought all I could with all I had to buy with. I would pack my lunch to have more powder to buy with. I have been buying that way since the early 90s. What has changed in the last two weeks? Have I rethought things and decided this is crazy? Have I found a better investment? The answer to all three questions is a huge"NO". My wife's job has caused us to move from South Louisiana to North Georgia. I am now actively looking for work. That stack that made the trek with us, now stands as an insurance policy to ensure we will be okay until I find a job. Oh, Mr. Beau; that day WILL come and we will all be proven correct. I don't always sign in, but I come here daily for voices of reason in an unreasonable world. Your voice, Neil's voice, 68's, slick's, and many others are the one's that offset the outside doubter's voices. I love this place, so please don't count me as one of the "fence post sitters."


Thanks,
Brett

[slickeast]

Is the butter ready yet?

[beauanderos]

I was finally able to dump some DSLV today, for a $5 profit per share, placed the proceeds back into USLV.

[beauanderos]

Keeping my fingers crossed that they can drive the price down to $18.75 or so... which would be enough to trip the sale ($57) of my last 66 shares of DSLV... and then put that money back to work into USLV. Just about time to go all in with USLV.

[68Camaro]

Time for another slam. Will they do it?

Gold is slowly creeping up...

[NDFarmer]

Time for another slam. Will they do it?

Sure hope so. Would like to see it break through that $18.00 level for a while so I could buy a good bunch to off set all I bought when it was over $30.00

[beauanderos]

Time for another slam. Will they do it?

Gold is slowly creeping up...

not watching the gold... but the silver channel is inching up. I never hit my buy trigger for more USLV on the last drop... we're not seeing the $1.20 - 1.30 band width volatility which was printing before... now it's narrowing to eighty or ninety cents, makes it tougher to set orders and make a quick profit. So far, since I started these games, I'm up eleven percent... nothing to write home about I have an order to buy 100 shares of DSLV at 46, so I just need about another two or three cents above today's high.

[68Camaro]

It certainly looks like JPM is giving ground. The question that time will tell is whether or not they will draw new lines in the sand, or allow the bull surge to restart. (They might not know themselves, for it comes down to how they can make the most money and they they may be adjusting on the fly.)

[beauanderos]

It certainly looks like JPM is giving ground. The question that time will tell is whether or not they will draw new lines in the sand, or allow the bull surge to restart. (They might not know themselves, for it comes down to how they can make the most money and they they may be adjusting on the fly.)

If they do give ground, it'll be gradual so as not to excite the masses. They're letting gold creep up a bit every day. Maybe that's the best they can do in suppressing the price? Or they've set a slow gains algorithm to entice the recently burned back into the market so that they can maim and kill the merely injured the next go around.

[IdahoCopper]

If JPM has the largest hoard of physical, sooner or later they will switch operations to allow the price to rise, instead of squashing it every other day.

[beauanderos]

If JPM has the largest hoard of physical, sooner or later they will switch operations to allow the price to rise, instead of squashing it every other day.

very true... IF

if they are acting on their own. They can easily see what happens when silver is left alone... it rises. Exactly the reason that they've accumulated their estimated hoard of the largest position ever. However, if they are acting as proxies for the gov't, or agents for the Chinese... then merely as intermediaries they can steer, but not necessarily alter the eventual outcome... the timing of it, that is. As long as it's in the interest of the big entities to suppress prices (whether to accumulate, or preserve the dollar) the game will continue.

[johnbrickner]

I'm stymied. Both PMs and the market up significantly today. Whooda thought?

[68Camaro]

Line in the sand was redrawn in a strategic withdrawal, but churning has commenced again with $22 silver and $1340 gold being the upper end, for now.

[68Camaro]

Is there anyone here who still doubts the manipulation?

[beauanderos]

Da Boyz are back in town!

[beauanderos]

dumped the last 100 shares of DSLV and converted the proceeds to USLV. Now 100% triple leveraged long.

[Spikeanator6982]

lol, I bought some shares of Dslv near the bottom yesterday.