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

[68Camaro]

Several commentors in newsletters I get are consistent (right or wrong). They expect that major shorts will have to cover themselves over the next few weeks, and to expect significant market manipulation and major intra-day fluctuations up and down. But general strong trend up overall, until the shorts are covered. And as always, any big changes in world events would be cause for instant re-evaluation.

After the shorts are covered, and after QE2 technically ends, there may be a fall-back for Ray's consolidation. I believe that will be temporary and the run-up will continue, because either a formal QE3 will start right back up (even though they say it won't), or perhaps more likely - a back-door QE3 will be conducted whereby the Fed itself doesn't buy the bonds, but gives the "money" to the member banks and has them do their dirty work.

It's these types of things (among others) that I personally don't trust technical analysis to cover, but that could be my ignorance, despite having tried to understand it over the years.

[justj2k78]

Looking to find an ASE or two, trolling Ebay to see if any deals slip through the cracks, and right now $55 is the floor... !

[slickeast]

Hard to believe what silver was 30 days ago. Don't you wish you were buying at the old price instead of selling.

[Country]

SILVER up another 40c tonight. $45 may be history by morning....

[68Camaro]

SILVER up another 40c tonight. $45 may be history by morning....

USD threatening to go below 74

[aloneibreak]

SILVER up another 40c tonight. $45 may be history by morning....

USD threatening to go below 74

the dollars demise is getting closer....

[beauanderos]

$47 tomorrow on short-covering rally

[68Camaro]

$47 tomorrow on short-covering rally

As I think that's what's going on, I wouldn't bet against 48 tomorrow, maybe 50 by Friday close.

[beauanderos]

$47 tomorrow on short-covering rally

As I think that's what's going on, I wouldn't bet against 48 tomorrow, maybe 50 by Friday close.

I think the markets are closed on Good Friday... so how about if we celebrate Great Thursday?

[glass]

Been watching the usd last few weeks last few weeks small changes 3-4 cents
Today was 75 cents down??

[68Camaro]

Been watching the usd last few weeks last few weeks small changes 3-4 cents
Today was 75 cents down??

Big drop in early morning, and another this evening.

[68Camaro]

$47 tomorrow on short-covering rally

As I think that's what's going on, I wouldn't bet against 48 tomorrow, maybe 50 by Friday close.

I think the markets are closed on Good Friday... so how about if we celebrate Great Thursday?

Are they still? I know they used to be here in the States. Not sure about the overseas market.

[slvrbck]

here we go. . .

[68Camaro]

And I happen to wake up to let the dog out, check the price, and we've officially just hit $46, with the dollar about to dip into the 73s...

[68Camaro]

Yep, dollar goes below 74. Wow. This is almost scary.

[aristobolus]

And I happen to wake up to let the dog out, check the price, and we've officially just hit $46, with the dollar about to dip into the 73s...

I have never bought food for long-term (or short to intermediate term) usage. Over the past week I began buying from Honeyville and Sams Club online. Better to be prepared just in case, my family can always eat it later or donate it to charity. This was fun at first, but perhaps this is the meltdown we have feared.

[68Camaro]

OK - hold on. We're only 1.8 points, and counting down, away from the potential for some serious meltdown...

[AGCoinHunter]

This is becoming scary.

[TXBullion]

Can you elaborate on the US Dollar Index ?

[Dvorak]

This is becoming scary.

Yeah, there is no pleasure in being "right" about the economy/precious metals. All the "economic doomsday kooks" are being proven right so far.

[frugi]

exactly. it is depressing to be excited when the dollar goes down, I am just glad I was never cool, had the time to develop my interests, and didn't waste my money on stupid stuff, instead now I have metal, metal, metal. I have no dollars, all of my holdings are physical 100%, aside from business cash I am ALL investment metals. I would LOVE WITH MY WHOLE heart for the US economy to recover and become number 1, for us all to have a bright, beautiful, great place to live, a wonderful future to raise families, etc. Sadly, probably not going to be that easy, probably quite a struggle ahead for most of us. But if I could change the course of all of our futures, I would even if it meant losing the value of my entire savings (since 100% of my savings is in metals). I think most of us would rather have a peaceful life to live out our days, who wouldn't? I hope we are all wrong and America becomes great again. But if not, if we are not looking to the brightest future, there is no point in holding onto the dream, or the US dollar. I feel like Yippee! or Yay! silver is almost to $50.00, but at what cost? Sadly I will hate to see things when silver is at $100.00

[Lemon Thrower]

bump

[Lemon Thrower]

First full allocation complete with a short @ 42.74.

I hope you have covered by now ($46.62).

[68Camaro]

Can you elaborate on the US Dollar Index ?

What do you want to know? I hate to presume either ignorance or knowledge. One of my key talents is to be able to re-state the obvious!

I presume you all know that it is a market-basket of key other currencies, weighted by type (Euro, yen, pound, canadian $, swedish krona, swiss franc) relative to the US dollar. Look it up on wiki (U.S. Dollar Index) for details.

The original weighting was set at index of 100 = par with dollar. A value higher than 100 indicates that the dollar is stronger than the weighted average. A value lower than 100 indicates the dollar is weaker. From the wiki article

At its start, the value of the US Dollar Index was 100.000. It has since traded as high as 148.1244 in February 1985, and as low as 70.698 on March 16, 2008, the lowest since its inception in 1973.

(Note these values quoted above aren't the closing value high/low, but the intra-day high/low.)

A number of conservative analysts who are smarter than I am say that a closing value below 72, in a downward trend (and especially given the weakened state that both the US and the world are in) is a strong indicator of signficant trouble. They believe this is one of the key warning indicators of imminent collapse (note that we were "there" in 2008, but QE 1 staved it off, temporarily). 72 is not a literal hard, fast rule, but anything near that value needs to be considered. The closer to it the more the warning bells should be going off. If we pass below 72 and things haven't collapsed, the further below 72 we get, the more conservative positions should become. And at that point, make sure you are stocked up, and your powder is dry, literally. There are no doubt other clarifying indices that need to be considered with this. I'll continue to post any strong conclusions that I hear from the newsletter summaries I get.

[TXBullion]

Can you elaborate on the US Dollar Index ?

What do you want to know? I hate to presume either ignorance or knowledge. One of my key talents is to be able to re-state the obvious!

I presume you all know that it is a market-basket of key other currencies, weighted by type (Euro, yen, pound, canadian $, swedish krona, swiss franc) relative to the US dollar. Look it up on wiki (U.S. Dollar Index) for details.

The original weighting was set at index of 100 = par with dollar. A value higher than 100 indicates that the dollar is stronger than the weighted average. A value lower than 100 indicates the dollar is weaker. From the wiki article

At its start, the value of the US Dollar Index was 100.000. It has since traded as high as 148.1244 in February 1985, and as low as 70.698 on March 16, 2008, the lowest since its inception in 1973.

(Note these values quoted above aren't the closing value high/low, but the intra-day high/low.)

A number of conservative analysts who are smarter than I am say that a closing value below 72, in a downward trend (and especially given the weakened state that both the US and the world are in) is a strong indicator of signficant trouble. They believe this is one of the key warning indicators of imminent collapse (note that we were "there" in 2008, but QE 1 staved it off, temporarily). 72 is not a literal hard, fast rule, but anything near that value needs to be considered. The closer to it the more the warning bells should be going off. If we pass below 72 and things haven't collapsed, the further below 72 we get, the more conservative positions should become. And at that point, make sure you are stocked up, and your powder is dry, literally. There are no doubt other clarifying indices that need to be considered with this. I'll continue to post any strong conclusions that I hear from the newsletter summaries I get.

Hey thank you very much for posting this. I didnt know anything about it. i will take some time to do some more research but this is very helpful!