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

[beauanderos]

I don't equate physical purchases for capital preservation with playing in paper

At last we agree on something. Physical is like that old Coke commercial "It's the Real Thing!"

[slickeast]

Dollar up big recently and silver has stayed flat...gold up today while silver down. We will probably see a big drop in silver tomorrow or later in the week.

Today doesn't look good for your prediction.

Someone just chopped silvers legs off.

[68Camaro]

Looks like they were only able to take it down to yesterday's price. Maybe not done, but if that was the best they could do, it was a weak crush.

[slickeast]

It is nice to see silver holding in the mid $30 range. Last year we were only dreaming about these levels. I wonder what we will be saying about $35 NEXT YEAR?

[shinnosuke]

Jun 13, 2011 12:25 35.16
Jun 13, 2011 12:27 35.10


And I'm free...free-fallin'
http://www.youtube.com/watch?v=1lWJXDG2i0A

[68Camaro]

Frankly, while I am loving the relatively** lower prices (I continue to buy physical), and the JPM-driving market cycling (I have my JPM-pump money-printing machine working for the second cycle), I have my doubts that this will continue more than one or two more cycles. Demand for physical is building a stronger and stronger base in the low-to-mid 30s and I believe it won't go more than one or two more cycles before it breaks back out into the 40s and tests 50 again. And I think JPM has no more than a 50-50 chance of squelching the next strong run-up to 50; so it could break-out past 50 this second time.

**I happened to look in my historical files last night and was reminded of what I was paying just two short years ago. FV at $9. Was a bit sickened at what I could have gotten then, if I hadn't been so fussy about getting a "bargin". I'm a bit less so now.

[Market Harmony]

... I was paying just two short years ago. FV at $9. Was a bit sickened at what I could have gotten then, if I hadn't been so fussy about getting a "bargin". I'm a bit less so now.

I think everyone was short-sighted at that time. If I had known how fast and how high POS was going to go, I have made moves to ensure that I never work another day of my life

[shinnosuke]

Frankly, while I am loving the relatively** lower prices (I continue to buy physical), and the JPM-driving market cycling (I have my JPM-pump money-printing machine working for the second cycle), I have my doubts that this will continue more than one or two more cycles. Demand for physical is building a stronger and stronger base in the low-to-mid 30s and I believe it won't go more than one or two more cycles before it breaks back out into the 40s and tests 50 again. And I think JPM has no more than a 50-50 chance of squelching the next strong run-up to 50; so it could break-out past 50 this second time.

**I happened to look in my historical files last night and was reminded of what I was paying just two short years ago. FV at $9. Was a bit sickened at what I could have gotten then, if I hadn't been so fussy about getting a "bargin". I'm a bit less so now.

Yep, the FRNs you're using now are worth a lot less than they were 2 short years ago so no need to be fussy. Spend 'em if you got 'em.

[shinnosuke]

... I was paying just two short years ago. FV at $9. Was a bit sickened at what I could have gotten then, if I hadn't been so fussy about getting a "bargin". I'm a bit less so now.

I think everyone was short-sighted at that time. If I had known how fast and how high POS was going to go, I have made moves to ensure that I never work another day of my life

Oh, you'd be working, alright. Workin' the beach or workin' the ski slopes or workin' a trip to Venice.

[scrapper2010]

Frankly, while I am loving the relatively** lower prices (I continue to buy physical), and the JPM-driving market cycling (I have my JPM-pump money-printing machine working for the second cycle), I have my doubts that this will continue more than one or two more cycles. Demand for physical is building a stronger and stronger base in the low-to-mid 30s and I believe it won't go more than one or two more cycles before it breaks back out into the 40s and tests 50 again. And I think JPM has no more than a 50-50 chance of squelching the next strong run-up to 50; so it could break-out past 50 this second time.

**I happened to look in my historical files last night and was reminded of what I was paying just two short years ago. FV at $9. Was a bit sickened at what I could have gotten then, if I hadn't been so fussy about getting a "bargin". I'm a bit less so now.

There does seem to be a huge increase in demand for physical silver at the low $30 level. But it seems like demand dropped off quite a bit when the price was in the high $30's and low $40's? Much less high $40's? I'm no expert by any means, just something I noticed.

[Know Common Cents]

I hope this is just a temporary thing, but, according to the June 10th Grey Sheet, Bid and Ask are drifting south of Melt these days. The biggest loser seems to be Warnix with a Bid of $6775 per bag, but a melt of $8277. This was calc with the POS @ $36.78. These are usually discounted anyway back of melt, but this seems substantial.

Silver dipped below $35 today for awhile, but has recovered somewhat. Just don't know whether $33/oz is sustainable longer term before the next shot at a $50/oz close. I still continue to stack it up, though, in the Munster household. Back up the truck.

[PreservingThePast]

I hope this is just a temporary thing, but, according to the June 10th Grey Sheet, Bid and Ask are drifting south of Melt these days. The biggest loser seems to be Warnix with a Bid of $6775 per bag, but a melt of $8277. This was calc with the POS @ $36.78. These are usually discounted anyway back of melt, but this seems substantial.

Silver dipped below $35 today for awhile, but has recovered somewhat. Just don't know whether $33/oz is sustainable longer term before the next shot at a $50/oz close. I still continue to stack it up, though, in the Munster household. Back up the truck.

It's been my understanding that war nickels usually can fetch about 60% of melt due to their composition and more trouble melting them. At 60% of $8277, that is only $4966.20. So the $6775 still seems strong to me.

[68Camaro]

Anyone noticed the kitco silver charts lately (such as tonight)? Is this the "high frequency trading" that I've been hearing about?

[beauanderos]

Anyone noticed the kitco silver charts lately (such as tonight)? Is this the "high frequency trading" that I've been hearing about?

Oh, that? That's just the effect of the new mini-silver future's ... the "bungee options" that they're trading in Shanghai now.

[Market Harmony]

Does anyone have volume figures for this Sunday night activity? If this is heavier than normal volume, then I will be expecting a positive move this week for silver. And, yes, that is exactly what program trading will look like when a large trader takes a position. It looks like $36 is the number.

Now, if the volume is lower or normal, then throw away the above statement.

[68Camaro]

Don't know a free source for volume data.

[justj2k78]

Back up over $35, wonder if we'll hold the momentum in the morning?

[slickeast]

Back up over $35, wonder if we'll hold the momentum in the morning?

Silver seems to be always climbing a slippery mountain. It struggles to climb $1, then gets kicked back down in minutes.

[68Camaro]

Well, I'm still working on making money on these churns. Second cycle for me. I currently have three new positions in PSLV, and it's already climbed well out of the lowest one at 15.28 and I have a sell order for that at 16 which may go this morning if the price hangs in there until market open. I'll put in sell orders for the next two bought positions at 15.75 and 16 at higher numbers, and try to be a bit less greedy on those two than I was last week, when it almost hit my sell points but fell just short. It's an imperfect system since I have far more constraints than the 24/7 marketeers, but it's been making a bit of money in the background for me. I have a core position that I'm keeping; these are just my "day" trading shares.

[WizardTN]

Is this chart still a valid indicator, or has the last 4 years changed the dynamics significately

http://www.realcent.org/viewtopic.php?f=25&t=1905

According to this everyone s/b pouring all in this week.

[68Camaro]

Well, I'm still working on making money on these churns. Second cycle for me. I currently have three new positions in PSLV, and it's already climbed well out of the lowest one at 15.28 and I have a sell order for that at 16 which may go this morning if the price hangs in there until market open. I'll put in sell orders for the next two bought positions at 15.75 and 16 at higher numbers, and try to be a bit less greedy on those two than I was last week, when it almost hit my sell points but fell just short. It's an imperfect system since I have far more constraints than the 24/7 marketeers, but it's been making a bit of money in the background for me. I have a core position that I'm keeping; these are just my "day" trading shares.

Well good grief. The churn in the market is like a freakin goose laying little mini golden (or rather silver) eggs all over... I've completed two more successful buy/sell cycles since last post, and just hit my latest sell and turned around in put in another lower buy order (should it go down again below where it is now).

[NHsorter]

I was hoping that this would be another one of those crazy weeks again where silver pops up 4-5% each day. Come on full steam ahead! But, I don't have the balls to put my FRN's in AGQ today. I'll probably just sit on the sidelines and hope that my little tiny stack of physical continues to appreciate.

[beauanderos]

Well, I'm still working on making money on these churns. Second cycle for me. I currently have three new positions in PSLV, and it's already climbed well out of the lowest one at 15.28 and I have a sell order for that at 16 which may go this morning if the price hangs in there until market open. I'll put in sell orders for the next two bought positions at 15.75 and 16 at higher numbers, and try to be a bit less greedy on those two than I was last week, when it almost hit my sell points but fell just short. It's an imperfect system since I have far more constraints than the 24/7 marketeers, but it's been making a bit of money in the background for me. I have a core position that I'm keeping; these are just my "day" trading shares.

Well good grief. The churn in the market is like a freakin goose laying little mini golden (or rather silver) eggs all over... I've completed two more successful buy/sell cycles since last post, and just hit my latest sell and turned around in put in another lower buy order (should it go down again below where it is now).

I was able to buy 200 shares of First Majestic at $16.68, sold it today for a $600 profit minus in and out. I'm content. Have three more lots of same I bought on the way down but at higher prices.

[68Camaro]

Good job!

I've got one more lot of pslv trading shares bought at $16.18 to sell at $16.75, and already have the order in to buy again at $15.40, so i win either way!

[beauanderos]

Good job!

I've got one more lot of pslv trading shares bought at $16.18 to sell at $16.75, and already have the order in to buy again at $15.40, so i win either way!

We might as well take advantage of the range-bound swings...pick up a little cash during the doldrums