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

[theo]

37.15 already. What if the big correction many hink is coming is from 50 to 35 instead of 35-36 to 25-30? Im kinda wondering if thats how it will play out myself.

That's what I'm thinking. Last fall when silver hit $22, some people held off buying thinking that there would be a pull back; and there was. . . . from $31 to $26.

I read one article stating that, since PMs are being talked about more and more in the MSM, silver is overbought in the short term. If silver is at or near an overbought level, it certainly isn't because of over exposure (at least not in the this country). About 90% of the PM discussion in the MSM is around gold and outside of Foxnews I don't see a lot of that. When silver is mentioned it is almost always as an after thought to gold.

[Jonflyfish]

Short silver @ 37.23

[theo]

Short silver @ 37.23

Agree or disagree, you have to respect someone who puts his money where is mouth is.

For the record, I hope this one works out for you.

[Jonflyfish]

Short silver @ 37.23

Agree or disagree, you have to respect someone who puts his money where is mouth is.

For the record, I hope this one works out for you.

Thanks for the kind remarks Theo. Win or lose, the market is what it is. Risk management is the key when the future is unknowable. I'm prepared to lose, so a win is a true benefit.
Added short @ 37.32.

Cheers!

[Jonflyfish]

Initial allocation finished at 37.37
Additional allocations at progressive increments

[Rodebaugh]

Just landed. 3rd and 4th allocations filled at $36.30

Just noticed this typo. Was a fill @ $36.40. Fat fingered the iPhone. The difference in outcome won't have that great of an effect with either price.
Scratch that. Thought the prior did not record properly.

did you cover these JFF?

[scrapper2010]

May see $38 today?

[68Camaro]

Almost touching it now...

[Market Harmony]

I would just like to express my concern for anyone trying to game this price move since we broke $22. This is a monstrous move that will amaze everyone when it finally ends. It's going to be a longer ride than many people anticipate. These ideas of pullbacks to the $20's are PIPE DREAMS. Folks, silver is cheap right now. More and more people are realizing this every day. Price will not be able to go that low ever again.

I have tried to tell people in the past that PRICE DISCOVERY IS AN AMAZING PROCESS. I have seen it happen in many arenas... the stock market, the commodities market, and even a coin show. All that it will take is some big money to sit down and do an analysis of their portfolio. If they seek to maximize gains then they will look for the best investment. When they see the fundamentals of PM's (especially silver) then they will break down the numbers to determine what their profit potential will be. When they see that silver is extremely undervalued, then they will project a fair market price and BUY EVERYTHING UNDER THAT PRICE... At that point, $30, $40, $50, $100... it won't matter, they will just buy because they already figured out what it is worth and they will use their big bank accounts to buy all they can at prices less than what their own internal analyst have determined. Imagine, then, that more than one company / large investor figures this out!

Guys, you just don't get price discovery if you try to play the minor moves.

[68Camaro]

Agree fully. And my money is where my mouth is (so I hope we're both right). I've been buying, and I'm continuing to buy, though I am trying to buy in the minor dips, and suck up stuff as a bottom-feeder, rather than buy at the minor peaks. I could cash in all the chips and go for broke, but that isn't my nature - so I am holding back reserve, and buying at a measured pace - and I will hopefully always have something available in reserve to catch a larger dip if it does happen.

I would just like to express my concern for anyone trying to game this price move since we broke $22. This is a monstrous move that will amaze everyone when it finally ends. It's going to be a longer ride than many people anticipate. These ideas of pullbacks to the $20's are PIPE DREAMS. Folks, silver is cheap right now. More and more people are realizing this every day. Price will not be able to go that low ever again.

I have tried to tell people in the past that PRICE DISCOVERY IS AN AMAZING PROCESS. I have seen it happen in many arenas... the stock market, the commodities market, and even a coin show. All that it will take is some big money to sit down and do an analysis of their portfolio. If they seek to maximize gains then they will look for the best investment. When they see the fundamentals of PM's (especially silver) then they will break down the numbers to determine what their profit potential will be. When they see that silver is extremely undervalued, then they will project a fair market price and BUY EVERYTHING UNDER THAT PRICE... At that point, $30, $40, $50, $100... it won't matter, they will just buy because they already figured out what it is worth and they will use their big bank accounts to buy all they can at prices less than what their own internal analyst have determined. Imagine, then, that more than one company / large investor figures this out!

Guys, you just don't get price discovery if you try to play the minor moves.

[68Camaro]

Guys, you just don't get price discovery if you try to play the minor moves.

I do appreciate your counsel for the RC'rs. Having said that, now... I'm hoping no one actually reads this, or if they do, that they don't pay attention, so that I can keep buying here, because if everyone here really paid attention to it, then no one would be posting stuff for me to buy.

[68Camaro]

And Kitco says it officially touched 38...

[Jonflyfish]

Just landed. 3rd and 4th allocations filled at $36.30

Just noticed this typo. Was a fill @ $36.40. Fat fingered the iPhone. The difference in outcome won't have that great of an effect with either price.
Scratch that. Thought the prior did not record properly.

did you cover these JFF?

Yes sir. Was a coupla bux lower if I recall. Sorry if I did not post that.

[Jonflyfish]

Phase 2 silver shorts with 2x allocation unit size of phase one complete @ 38.14

[Rodebaugh]

thought so.....but had to ask. good timing on the pull back to 34. Hats off once again,

Doc

[Lemon Thrower]

good luck to you on your shorts but to me its like bending down to pick up zinc pennies in front of the world's largest steamroller.

but we each have to do what works for us.

you can win money in a crooked card game but you have to be lucky and quit while you are ahead. if you play every hand the house will beat you every time. not my kind of fun.

[AlexTG]

good luck to you on your shorts but to me its like bending down to pick up zinc pennies in front of the world's largest steamroller.

but we each have to do what works for us.

you can win money in a crooked card game but you have to be lucky and quit while you are ahead. if you play every hand the house will beat you every time. not my kind of fun.

What I find intresting is you made the penny zinc. Does that mean that if they were copper it would actually be an ok idea to bend down in front the steamroller?

[Country]

SILVER looks very strong here. I think it's going to $40 before any correction is possible. Round numbers are like magnets.... Can you feel the pull?

However, maybe JonFly is gonna make a nice short term profit here....

[Jonflyfish]

good luck to you on your shorts but to me its like bending down to pick up zinc pennies in front of the world's largest steamroller.

but we each have to do what works for us.

you can win money in a crooked card game but you have to be lucky and quit while you are ahead. if you play every hand the house will beat you every time. not my kind of fun.

The future is always unknowable. I would not be overly confident in believing otherwise. There is nothing "crooked" about trading. the price is transparent and the contracts are liquid. The more FRN's pulled in, the more physical metal I buy.

Cheers!

[glass]

cant wait to see what tommorow brings

[aloneibreak]

overseas open is flat...

unlike the last few weeks

[DeanStockwell]

Interesting action today. Most of the losses that started off in the morning were erased, settled down .16.
Some interesting things happened today chart-wise for silver, led me to hold my short position @ 38.03.

Nearly none of the pundits on CNBC think there will be QE3.
Members of the Fed are giving advance warning that there will be no QE3: (Fed Bank of St. Louis President James Bullard to reporters in France, March 26)

“If the economy is as strong as I think it is, then I think it may be reasonable to send a signal to markets that we’re going to start withdrawing our stimulus, and I’d start by pulling up a little bit short on the QE2 program… We can’t be as accommodative as we are today for too long, we’ll create a lot of inflation if we do that.”

With the dollar so low, the Fed could cut QE2 short in April to show they will not let the dollar decline so much in contrast to other currencies.

On Friday, we will be getting unemployment numbers. With the 4th quarter GDP revised up to 3.1%, we could be seeing a very good number, which is of course bad for silver.

Short and mid term silver investors, beware.

[68Camaro]

Interesting action today. Most of the losses that started off in the morning were erased, settled down .16.
Some interesting things happened today chart-wise for silver, led me to hold my short position @ 38.03.

Nearly none of the pundits on CNBC think there will be QE3.
Members of the Fed are giving advance warning that there will be no QE3: (Fed Bank of St. Louis President James Bullard to reporters in France, March 26)

“If the economy is as strong as I think it is, then I think it may be reasonable to send a signal to markets that we’re going to start withdrawing our stimulus, and I’d start by pulling up a little bit short on the QE2 program… We can’t be as accommodative as we are today for too long, we’ll create a lot of inflation if we do that.”

With the dollar so low, the Fed could cut QE2 short in April to show they will not let the dollar decline so much in contrast to other currencies.

On Friday, we will be getting unemployment numbers. With the 4th quarter GDP revised up to 3.1%, we could be seeing a very good number, which is of course bad for silver.

Short and mid term silver investors, beware.

Other commentators suggest the above was a concerted and coordinated effort of the Fed, with help from the media, to stop the slide in the dollar, which it did. Then they eventually will do whatever they damn well please, as they always do, including QE3 if they choose.

[theo]

Interesting action today. Most of the losses that started off in the morning were erased, settled down .16.
Some interesting things happened today chart-wise for silver, led me to hold my short position @ 38.03.

Nearly none of the pundits on CNBC think there will be QE3.
Members of the Fed are giving advance warning that there will be no QE3: (Fed Bank of St. Louis President James Bullard to reporters in France, March 26)

“If the economy is as strong as I think it is, then I think it may be reasonable to send a signal to markets that we’re going to start withdrawing our stimulus, and I’d start by pulling up a little bit short on the QE2 program… We can’t be as accommodative as we are today for too long, we’ll create a lot of inflation if we do that.”

With the dollar so low, the Fed could cut QE2 short in April to show they will not let the dollar decline so much in contrast to other currencies.

On Friday, we will be getting unemployment numbers. With the 4th quarter GDP revised up to 3.1%, we could be seeing a very good number, which is of course bad for silver.

Short and mid term silver investors, beware.

Pulling stimulus out of the economy isn't as simple as it sounds. It means raising interest rates, making everybody's debt more expensive including the Federal Government's. It also means kicking the legs out from under "the recovery" causing higher unemployment and more demand for social services. This would likely drive Federal (and state) spending higher putting even more pressure on our fiscal situation. I agree that they are hoping that the threat of tightening will control commodity prices and support the dollar.

[Country]

SILVER at $37.72 this morning - looking strong. Could the little correction be over?