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

[Market Harmony]

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

Heck, I asked myself this morning whether Silver will be $40 by the end of this week

[Rodebaugh]

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

Heck, I asked myself this morning whether Silver will be $40 by the end of this week

Did you answer yourself?

[beauanderos]

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

Heck, I asked myself this morning whether Silver will be $40 by the end of this week

Did you answer yourself?

Now that's a refined question

[Market Harmony]

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

Heck, I asked myself this morning whether Silver will be $40 by the end of this week

Did you answer yourself?

Magic 8 Ball answer was cloudy and it stopped on edge, so it was like 2 answers for one question. It wouldn't be anything surprising if $40 comes by Friday's close. Where it goes after $40 and how fast is another question that I'll let you answer.

[Rodebaugh]

Heck, I asked myself this morning whether Silver will be $40 by the end of this week

Magic 8 Ball answer was cloudy and it stopped on edge, so it was like 2 answers for one question. It wouldn't be anything surprising if $40 comes by Friday's close. Where it goes after $40 and how fast is another question that I'll let you answer.

The answers:

- Try Again
- He is totally into you!

[68Camaro]

Anyone have access to detailed trading plots on any given typical day? I'd like to know for my own curiousity what the heck those traders are specifically doing at either London or New York open that drives down the spot price for a time each day - virtually every day, but especially on critical exchange days. I read the columns from people talking this at the big picture level, but I want to know things like how much volume they have to short at what level in order to cause these price changes.

Anyone know that level of detail?

[henrysmedford]

Looks like the price of silver and the Gold / Silver Ratio might be the same number today.

[Rodebaugh]

Looks like the price of silver and the Gold / Silver Ratio might be the same number today.

Thats very cool. Good Eye on that one.

[Country]

OK... SILVER is moving higher ABOVE $38 right now. A nice consolidation around $37 appears to have made a base for the move higher to $40 and above.

Is everyone ready for the move ABOVE $40 for SILVER?

[Country]

$38.50 SILVER!!!

[neilgin1]

Country,
can you imagine when we post .....$77 silver?

outside of Crude Oil, in the double aughts, i have never in 30 years trading, seen a bull market with this much potentcy.

Usually, when you see, hear a lot guys ALL bullish, thats not a good sign, but in the case of silver, (and PM's as a group) something is different. i'm certain the machinations of large commercial suppressing the price for years has a great deal to do with how silver is trading, but it "feels" like the market WANTS to go a lot higher.

and frankly, the more these large commercials continue their shenanigans, or the CME raises margins, underlines the futility of their efforts. But i really dont think they care, as they are trading with monetized FRN's. Just the whispers of that $50 take or leave it delivery deal points to a bad outcome for these shorts.

Never i have i once seen any manipulation, in any commodity, EVER, work to the fair. It really does sadden me, that certain future exchanges have become so perverse, as in this case. When i was young, and first stepped onto the trading floor, i saw guys, traders wearing coats that had a patch, said, "Free markets for free men", and oh, how the mighty have fallen.

we're going to $75...first stop.

so that would mean, what?.....56X's for 90%'s?

word to the group, wheat, whether Chi, KC, or Minn, is a bargain at $8-10 a bushel, thats going to 20, but i dont know you'd make money at it, if you no longer trust the future exchanges, not to default.

Good trading ya'll, neil

[shinnosuke]

Country,
can you imagine when we post .....$77 silver?

outside of Crude Oil, in the double aughts, i have never in 30 years trading, seen a bull market with this much potentcy.

Usually, when you see, hear a lot guys ALL bullish, thats not a good sign, but in the case of silver, (and PM's as a group) something is different. i'm certain the machinations of large commercial suppressing the price for years has a great deal to do with how silver is trading, but it "feels" like the market WANTS to go a lot higher.

and frankly, the more these large commercials continue their shenanigans, or the CME raises margins, underlines the futility of their efforts. But i really dont think they care, as they are trading with monetized FRN's. Just the whispers of that $50 take or leave it delivery deal points to a bad outcome for these shorts.

Never i have i once seen any manipulation, in any commodity, EVER, work to the fair. It really does sadden me, that certain future exchanges have become so perverse, as in this case. When i was young, and first stepped onto the trading floor, i saw guys, traders wearing coats that had a patch, said, "Free markets for free men", and oh, how the mighty have fallen.

we're going to $75...first stop.

so that would mean, what?.....56X's for 90%'s?

word to the group, wheat, whether Chi, KC, or Minn, is a bargain at $8-10 a bushel, thats going to 20, but i dont know you'd make money at it, if you no longer trust the future exchanges, not to default.

Good trading ya'll, neil

Thanks for posting, sir. I appreciate your insight.

When I first read your comment on wheat, I thought you meant wheat pennies. Took me a few seconds to see that you meant the kind one eats. I like to eat more than I like to sort pennies so I'm worried about food inflation.

[beauanderos]

When I first read your comment on wheat, I thought you meant wheat pennies.

Silly Wabbit... everyone knows you can't eat copper

[Mossy]

When I first read your comment on wheat, I thought you meant wheat pennies.

Talk about "does not get soggy".

[Country]

Anybody still shortin' SILVER right now? It sure looks like it's a goin to $40 real soon.

SILVER at $38.71 right now.

[shinnosuke]

When I first read your comment on wheat, I thought you meant wheat pennies.

Silly Wabbit... everyone knows you can't eat copper

How about drinking it?
http://www.harveys.org.uk/seasonaldraughtbrews.php
Copperwheat Beer (June) ABV 4.8%
Inspired by SIBA's Wheat Beer challenge in 2001 we produced a 4.8% ABV beer using 40% Wheat Malt and 60% Malted Barley. To underline the continental heritage of this beer we uncharacteristically brewed with choicest Hallertau hops from Germany. This award winning brew has been described as 'wheat and sweet'. It is light in colour with a moreish dry palate.

[shinnosuke]

When I first read your comment on wheat, I thought you meant wheat pennies.

Talk about "does not get soggy".

The breakfast of realcenter champions!

[Know Common Cents]

I was reading an article on Kitco about the critical points the POS must close above to get into hyperdrive. The obvious one is $40/oz and I guess if we can get a couple of closes above that level, then the top (or at least a new plateau upon which to build and charge ahead) is unknown.

There are other market forces influencing the AG markets, too. All sorts of conjecture about JP Morgan Chase and others not being able to cover their positions with physical silver. Took down my mug shots of the Hunt Bros. many years ago, but I'm enjoying the upward trajectory for as long as it lasts. I believe that if we hit $40/oz, the market will see substantial profit taking as that psychological barrier is broken. The key to the upward trend will be to see how long it takes the market to absorb it and continue the move.

Marvelous. Simply marvelous.

[DeanStockwell]

Currently long silver, have been long SLV calls since 35.92. Looking to sell SLV around the $38.50 mark with a tight stops which should trigger around $37.35- $37.20.

Silver spot at 40 will be a major barrier for to blast through, I'd start looking into short positions nearing $39.50.

Good luck all!

[aristobolus]

Currently long silver, have been long SLV calls since 35.92. Looking to sell SLV around the $38.50 mark with a tight stops which should trigger around $37.35- $37.20.

Silver spot at 40 will be a major barrier for to blast through, I'd start looking into short positions nearing $39.50.

Good luck all!

Do you think it is a fair assumption that $50.00 an ounce is a possibility this year based on (among other things) the rumored recent payouts to dealers of that price for not being able to deliver the bullion on time?

[Country]

$40 SILVER here we come!!!

SILVER at $39.02 right now.

[68Camaro]

You beat me to it, if I just hadn't been on that phone call...

[shinnosuke]

$40 SILVER here we come!!!

SILVER at $39.02 right now.

Or, said another way, an FRN with the face of Washington on it, is only worth 1/39th of an ounce of silver. Silver is silver, unchanged across the eons. It's just our way of setting a price on it that has changed.

That said, I would still like to see just one more correction, so I can buy some more with my worthless paper money. Please, just this one last time...I promise I'll be good.

[barrytrot]

$40 SILVER here we come!!!

SILVER at $39.02 right now.

Or, said another way, an FRN with the face of Washington on it, is only worth 1/39th of an ounce of silver. Silver is silver, unchanged across the eons. It's just our way of setting a price on it that has changed.

That said, I would still like to see just one more correction, so I can buy some more with my worthless paper money. Please, just this one last time...I promise I'll be good.

In today's environment consider every day a correction Tomorrow will be higher

[Treetop]

i dont follow the thread every day, but it kinda seems to me many have been anticipating a "correction" since it was around 26 or so? what if this uptrend Is the correction? I dont think we will see major drops for some time. though im no expert....