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

[Country]

SILVER bounced right off the $34 support level. NICE!!! $40 HERE WE COME...

[Rodebaugh]

Markets open...working towards 36.5

[DeanStockwell]

silver is falling fast...

[Country]

SILVER is rising fast...

[Jonflyfish]

At $34.30 keep it tight. Won't be around here for a bit to post anything new.

Cheers!

Indeed. Have been away from being able to post for a bit. $34.30 was tight.
Now in the $35.90 region. Would be cautious of asset liquidations. Such market conditions can produce surprising consequences to the metals market.

Cheers.

[Jonflyfish]

After hanging around the $35.90 region, silver is poised for a big move.

[Rodebaugh]

New avatar JFF...I like it. Who is the school?

and a big move in what direction?

[Jonflyfish]

New avatar JFF...I like it. Who is the school?

and a big move in what direction?

Thanks Rodebaugh. Utah Utes.
Asset liquidations are starting to accelerate. Anticipating some panic soon. This will generally be USD positive and that would not be good for PM's in the near term.

Cheers

[DeanStockwell]

Right again, JFF. Down $1! In asia.
Whoa! Markets are down huge today.
Going to fill an order in the morning for JCO(Japanese Small Cap Fund). Nikkei 225 is down an additional 12% today!
Looks like the tsunami also allowed researchers to find atlantis.

[beauanderos]

Right again, JFF. Down $1! In asia.
Whoa! Markets are down huge today.
Going to fill an order in the morning for JCO(Japanese Small Cap Fund). Nikkei 225 is down an additional 12% today!
Looks like the tsunami also allowed researchers to find atlantis.

I don't know what I was thinking (or actually,not thinking), if I'd had my wits about me I would have shorted a Japan ETF.

[Jonflyfish]

Quick 300 DJIA points of panic off the bell-

[Rodebaugh]

The rest of my stop losses executed. All in Cash now.

[DeanStockwell]

I just love days like these. I took some risk this morning and bought EZJ(2x Japan) instead of the Japanese Small Capitalization Fund. Got the shares at $58 and sold at $65.
In regards to silver, wow! Big drop today. I'm waiting for the rest of the correction and then I'll buy some paper silver. Looking for $32

[zyll]

Asset liquidations are starting to accelerate. Anticipating some panic soon. This will generally be USD positive and that would not be good for PM's in the near term.

Interesting, though; While the Nikkei fell 10.5% and silver fell 4.73%, the USD did not bounce but finished flat. Recently it appears that whenever we see some sort of political or economic uncertainty the Dollar gets its usual knee jerk safe haven bid but then begins to fade and give up a large portion of its gains as the trading session wears on. Look at the Swiss Franc to see if it becomes the main beneficiary, or if something else rebounds tomorrow.

[Jonflyfish]

Asset liquidations are starting to accelerate. Anticipating some panic soon. This will generally be USD positive and that would not be good for PM's in the near term.

Interesting, though; While the Nikkei fell 10.5% and silver fell 4.73%, the USD did not bounce but finished flat. Recently it appears that whenever we see some sort of political or economic uncertainty the Dollar gets its usual knee jerk safe haven bid but then begins to fade and give up a large portion of its gains as the trading session wears on. Look at the Swiss Franc to see if it becomes the main beneficiary, or if something else rebounds tomorrow.

Typically see assets liquidated (Stocks, PM's etc) then allocations into currencies to follow.
But, then again, maybe I'm 100% wrong about all this. DYOD
Cheers!

[Jonflyfish]

Would add, that if currencies are of interest, the key may just be in the Euro at this time. If it breaks down, perhaps the USD index rises.
But that might be a peripheral consequence of the real focus here....SILVER

[Country]

Would add, that if currencies are of interest, the key may just be in the Euro at this time. If it breaks down, perhaps the USD index rises.
But that might be a peripheral consequence of the real focus here....SILVER

The Euro strengthening against the Swiss Franc would be indicative of the risk trade being back on and PMs resuming their march higher.

[Jonflyfish]

Liquidations en force in continuum.
Just initiated buying USD/JPY from 79.90

[Jonflyfish]

Silver needs to break $34.46 for a stab higher.

[Jonflyfish]

There I go blogging again. Sorry

[Jonflyfish]

Would add, that if currencies are of interest, the key may just be in the Euro at this time. If it breaks down, perhaps the USD index rises.
But that might be a peripheral consequence of the real focus here....SILVER

The Euro strengthening against the Swiss Franc would be indicative of the risk trade being back on and PMs resuming their march higher.

I don't see any correlation between EUR/CHF moving higher with PMs. Not sure how you are reading that.
EUR hasn't been playing the role as a risk currency nor funding currency. Could you please share your thoughts?

[Country]

Would add, that if currencies are of interest, the key may just be in the Euro at this time. If it breaks down, perhaps the USD index rises.
But that might be a peripheral consequence of the real focus here....SILVER

The Euro strengthening against the Swiss Franc would be indicative of the risk trade being back on and PMs resuming their march higher.

I don't see any correlation between EUR/CHF moving higher with PMs. Not sure how you are reading that.
EUR hasn't been playing the role as a risk currency nor funding currency. Could you please share your thoughts?

CHF is a currency of choice for the risk-off trade. Liquidations (PMs/stocks) should continue until money flows back into EUR/Pound and away from CHF. Strength in PMs will probably not reappear until the CHF weakens against other currencies. My 2c.

[Jonflyfish]

The Euro strengthening against the Swiss Franc would be indicative of the risk trade being back on and PMs resuming their march higher.

I don't see any correlation between EUR/CHF moving higher with PMs. Not sure how you are reading that.
EUR hasn't been playing the role as a risk currency nor funding currency. Could you please share your thoughts?

CHF is a currency of choice for the risk-off trade. Liquidations (PMs/stocks) should continue until money flows back into EUR/Pound and away from CHF. Strength in PMs will probably not reappear until the CHF weakens against other currencies. My 2c.

You mentioned "resuming higher" but from where? Here is a EUR/CHF daily chart-

[Jonflyfish]

Loaded some USD/JPY @ 79.60. Will add at lower levels.
Long Term can perhaps see 100-110+.

[Jonflyfish]

Added a huge USD/JPY long @ 79.33