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

[TXBullion]

Too many folks looking for the pullback again. I think we move higher and do it fast from here. Perhaps after SILVER goes above the ALL TIME HIGH we could see a big correction.

IMHO, WE GO HIGHER FROM HERE FAST, THE MELTUP SHOULD BEGIN SHORTLY...

Country, Im not familiar with this expression, can you explain?

[neilgin1]

oh Jon, and i say this without offense. i've seen many a trader fight a bull, and the ugliness you might be seeing in the silver market, are $5 moves to the upside.

in 2000, Crude was at around $20, i was a buyer, and calling for 70 USD, the 120 USD Crude, citing both the 72-80 charts, and just adding a zero, combined with the reality of peak oil, which was at that time disregarded as 'tin foil hat' thinking. anyway, i had this one trader just riding me. numerous stats at hand, which i had too.....so we trade up, 30, 40 50, and so on, around $85, i think he gave a begruding "attaboy' to me and actually stopped talking once we crested $100.

why fight whats so apparent?......i understand contrarianism, if it's SO apparent, go the other way, but this is a way way different bull, its hybrid. neil

[zerocd]

We could bounce off $41 any time now.

Fun to watch.

JPM almost out of silver?

http://www.zerohedge.com/article/guest-post-guess-whos-almost-out-silver

[Country]

Too many folks looking for the pullback again. I think we move higher and do it fast from here. Perhaps after SILVER goes above the ALL TIME HIGH we could see a big correction.

IMHO, WE GO HIGHER FROM HERE FAST, THE MELTUP SHOULD BEGIN SHORTLY...

Country, Im not familiar with this expression, can you explain?

IMHO - IN MY HUMBLE OPINION

Most times when I make predictions, I'm not too humble. But this current rise in SILVER will humble us all.

MELTUP - An exponential, hyperbolic rise that is historical and exceeds ALL EXPECTATIONS by a wide margin. How about a move to $50+ SILVER by May?

[Country]

We could bounce off $41 any time now.

Fun to watch.

JPM almost out of silver?

http://www.zerohedge.com/article/guest-post-guess-whos-almost-out-silver

If the JPM shorts have to capitulate, SILVER GOES TO $115 !!!

[Rodebaugh]

We could bounce off $41 any time now.

Fun to watch.

JPM almost out of silver?

http://www.zerohedge.com/article/guest-post-guess-whos-almost-out-silver

If the JPM shorts have to capitulate, SILVER GOES TO $115 !!!

Not JPM's only vault from what I can gather.

[aristobolus]

Yeah, I can remember from that time frame having to outbid other ebayer's. Once I had to go as high as $335 for a $100 face lot! Can you imagine? What was I thinking!

Yes I can. Thinking about that earlier today....(flashback time)... . . . . .

The year was 2001. I was setting in my dorm room (Laidley Hall) at Marshall University. Surfing eBay (not yet feeBay) looking at silver lots. Buying whatever I could as close to 3 x Face on extra student loan money. Times were good, life was simple, Dating a hot chick (now married to that hot chick), friends were always just down the hall playing tiger woods and GTA, and silver was cheap. What I wouldn't give to.....

Where is that darn Delorian w/ flux capasitor when you need it.

I remember that year as well. I was just a couple of years out of school, and I got on ebay for the first time. I stumbled onto the coins section, and saw U.S. Silver Quarter rolls selling for thirty to thirty five dollars. I bought a few back then, along with some other lots of various coins. O that I would have bought much more...

The key thing here is to rejoice, but remember that the "Lord giveth and the Lord taketh away, blessed be the name of the Lord". This is applicable to the religious and non-religious. The future is not entirely in our hands, but what is wrong with whooping it up at a time like this!

[Country]

Watch the DXY (DOLLAR INDEX), currently at a crucial support level of 75.09. If it breaks below that, PMs will take off like a rocket.

[aloneibreak]

the dollar was even a bit further down a few minutes ago...

silver currently at daily high of 40.71

[Treetop]

a big correction wouldnt surprise me, whether fundamental back it or not. But even approaching 41, silver seems real cheap to me given the dollars long term prospects. that is rather sad to say, but it seems true to me....

[frugalcanuck]

could we see $41 today

[henrysmedford]

40+.jpg (57.14 KiB) Viewed 1191 times

[Jonflyfish]

oh Jon, and i say this without offense. i've seen many a trader fight a bull, and the ugliness you might be seeing in the silver market, are $5 moves to the upside.

in 2000, Crude was at around $20, i was a buyer, and calling for 70 USD, the 120 USD Crude, citing both the 72-80 charts, and just adding a zero, combined with the reality of peak oil, which was at that time disregarded as 'tin foil hat' thinking. anyway, i had this one trader just riding me. numerous stats at hand, which i had too.....so we trade up, 30, 40 50, and so on, around $85, i think he gave a begruding "attaboy' to me and actually stopped talking once we crested $100.

why fight whats so apparent?......i understand contrarianism, if it's SO apparent, go the other way, but this is a way way different bull, its hybrid. neil

No offense taken. So, please understand that none intended from me as well. I'm not sure what your mentioning crude in 2000 has to do with the current silver market 11 years later. I also remember in the same general time frame those who thought their Worldcom, Global Crossing, and of course Enron, would all go to the moon- just buy on dips. I know that doesn't directly apply to the silver markets of today either.
I own A LOT of physical silver. So, when I drum the beat about paper trades it has a different purpose, both speculation and hedging. I've been a trader for a living since 1993. My mentioning that is solely for the purpose of knowing for a fact that the future is unknowable- PERIOD! You say $5 upside moves. Well my friend, the pendulum (especially in high alpha assets like silver) most absolutely swings both ways. So, when you say that you have seen many a trader fight a trend etc etc, know that I have a tremendous amount of net worth wrapped up in physical silver. I also know that powerful trends can end in a heartbeat. A perfect example was posted here just a short time ago when I loaded long USD/JPY core positions 10 full figures below the current levels when it was in an "obvious" down trend...literally moments before intervention took place that wiped out many folks positioned according to the all too simple and easy free money obvious trend.

You say "Why fight what is so apparent?". Please excuse the bluntness but their is nothing apparent about what comes next. In fact, when it comes to trading, the only thing that is apparent is what has already happened- end of story.
Far too much of the mixing short term trading views vs long term "fight the fed" etc positions. This is why I mentioned earlier at one point that posting trades is probably not the best thing in this forum, even though many get excited and enamored with the moment by moment fluctuations of the tape. It makes me wonder if people are thinking long term core wealth preservation or day trading. LOL

Like I said on several previous occasions, 100+ silver can happen. When I talk about the current markets, I am not talking about a core long term wealth preservation investments. Those who are positioned accordingly have no reason to cheer 38, 39, 40, ?? etc etc about short term FRN day to day purchasing power parity fluctuations because it is utter nonsense until you crest those 80,90,100+ levels. They should not feel any "richer" when you see silver moving up a few bucks and should not feel and "poorer" when it declines just the same. In that scenario, value, not price is most relevant.

Have a great weekend.

[68Camaro]

I own A LOT of physical silver. So, when I drum the beat about paper trades it has a different purpose, both speculation and hedging.

I'm personally interested in your exploits in this regard, though I have no interest in following in your steps at this time. I do understand (admittedly not at your first few posts, but soon after) that you are discussing your day trading, and that those speculations have virtually nothing to do with the long term trends that most of us here are focused on. But that's exactly why I'm interested in what you do. Again, not that I want to follow you. At least not now. But I will see if I can learn from you, a little, for some further insight as to how the market moves, and maybe for some possible future when I'm better able to think about day trading.

[68Camaro]

Wow, dollar has just suddenly fallen below 75, after struggling to stay above, and SILVER is knocking at $41.

[Mossy]

da-YAM! If only this had held off for one more week. Argh.

[DeanStockwell]

Looking to post some charts explaining my contrarian view later tonight after the nightly run. Still short silver.

EDIT:



The shutdown, a major catalyst of the dollar's decline today, has been averted. This should cause the dollar to rally sunday night. I tried to make the charts as neat as possible, I hope they are easily understood. If you have any questions about the meanings of these indicators I'd be happy to answer. Good luck everyone!

[68Camaro]

Looking to post some charts explaining my contrarian view later tonight after the nightly run. Still short silver.

...

The shutdown, a major catalyst of the dollar's decline today, has been averted. This should cause the dollar to rally sunday night. I tried to make the charts as neat as possible, I hope they are easily understood. If you have any questions about the meanings of these indicators I'd be happy to answer. Good luck everyone!

I have little doubt that these charting techniques have validity (within reason) and can be used for short-term trading profit. And indeed, even without the charts to reinforce this, I'm not going to be surprised to see a pullback (whether large or small) on Sun eve and/or Mon morning. Good luck to you. And if it's a big enough pull-back and generates sellers at a lower price, I'll be buying more physical. Do you follow any of the other charting approaches?

short-term: play whatever trends you have the ability to follow and believe in (I'm not doing this personally, but more power to you.)

long-term: long silver

[henrysmedford]

Hope to post upward photo on Sunday. If not we have one with the high.

40++.jpg (57.62 KiB) Viewed 1071 times

[DeanStockwell]

Looking to post some charts explaining my contrarian view later tonight after the nightly run. Still short silver.

...

The shutdown, a major catalyst of the dollar's decline today, has been averted. This should cause the dollar to rally sunday night. I tried to make the charts as neat as possible, I hope they are easily understood. If you have any questions about the meanings of these indicators I'd be happy to answer. Good luck everyone!

I have little doubt that these charting techniques have validity (within reason) and can be used for short-term trading profit. And indeed, even without the charts to reinforce this, I'm not going to be surprised to see a pullback (whether large or small) on Sun eve and/or Mon morning. Good luck to you. And if it's a big enough pull-back and generates sellers at a lower price, I'll be buying more physical. Do you follow any of the other charting approaches?

short-term: play whatever trends you have the ability to follow and believe in (I'm not doing this personally, but more power to you.)

long-term: long silver

I try to focus on just four indicators: StochRSI, MACD, Force Index, and ADX, along with using EMA envelopes. I agree that these pullbacks are great buying opportunities. If we see a pullback I will post a chart when I feel we are due for a rebound.

[glass]

41

[slickeast]

No slow down yet. I am hoping for a pull back soon. I want to buy some when we are in Denver

[DeanStockwell]

Desperately waiting to see what the real price is after the asians are done with their amateur hour...

[blackrabbit]

This is insane! When is it going to go down?

[Coppercrazy]

Howy Smokes 41+ uh,wheres the pullback guys?