What is really driving silver prices and can that continue?

[Treetop]

yeah neil and 68... same for me. In fact we decided to keep the home we just paid off instead of sell it even though we just bought a new one in a more desirable place.... If nothing else Ive got a back up place in town instead of the mountains, or maybe a place for the kids many years from now... but i got a feeling people from either my wife or my family may one day be living in it, tending the gardens im getting in....

actually come to think of it an old friend from back in ohio DID sink his nest egg into silver at my recommendation. He called me up at one point apparently beaming.... he had sold it at the mid 20s or so. didnt keep an ounce. He wanted to sell at 20 before it dropped to 10 for awhile. he went nuts when it was at 10 being a bit lower then he had bought in at. so yeah he called me up, thanked me (after hating me for awhile) and asked if I had cashed out to.... i had tried to tell him if he ever did sell it to keep atleast anything over his initial investment. Hard money etc... Guess what... he called me up a month or so ago, and demanded to know why i LET him sell.... I guess whatever else he stuck it into lost 20 percent or so in that time.

[neilgin1]

In my case one of my daughters also did listen; she's an exception, my wife calls her my mini-me (in thought, not in looks, thank goodness for her! LOL).

bro, you're blessed then, she's your wingman, and thats the one you buy the family "country" home with...sounds like the girls got her poopoo together!! outstanding!

[silverflake]

OK, I haven't done the math myself but anecdotally, I heard that the maket cap of the entire XAU (Philly silver and gold index) is less than the market cap of Exxon-Mobile. And I heard that less than 7% of American investors have any exposure to gold, silver and/or gold/silver mining shares. When the public discovers it, theres just no room for them to pile in without the prices of bullion and equities heading north (explosively?). I trade GDX. Also, I own SLV and sell out of the money covered calls on it (WICKED fat premiums) so there are ways to make some chump change in the meantime fellas. Things will move, have patience.

[68Camaro]

In my case one of my daughters also did listen; she's an exception, my wife calls her my mini-me (in thought, not in looks, thank goodness for her! LOL).

bro, you're blessed then, she's your wingman, and thats the one you buy the family "country" home with...sounds like the girls got her poopoo together!! outstanding!

Roger that... I wonder where she came from sometimes...

[68Camaro]

OK, I haven't done the math myself but anecdotally, I heard that the maket cap of the entire XAU (Philly silver and gold index) is less than the market cap of Exxon-Mobile. And I heard that less than 7% of American investors have any exposure to gold, silver and/or gold/silver mining shares. When the public discovers it, theres just no room for them to pile in without the prices of bullion and equities heading north (explosively?). I trade GDX. Also, I own SLV and sell out of the money covered calls on it (WICKED fat premiums) so there are ways to make some chump change in the meantime fellas. Things will move, have patience.

There are several threads going with similar material in them, so it's hard to jump around. I'm thinking we need to start a new thread and have it be the continuation of Country's thread that is now at record length, and admirable for that, but maybe it's time to create a separate Part II of that thread? (I'm not going to do it, but if Country does, I'll jump on it.)

I'm watching the charts tonight and it's starting to look like we've got another little symmetrical triangle forming (in both silver and gold) which doesn't mean much except that the market can't decide where it is going, and it will continue to converge on a mean price between the peaks and valleys until something causes it to breakout either up or down. (Presuming the shorts don't insert themselves into the market during this process - in which case the charts don't mean anything.) So gold is converging on 1875ish and silver is converging on 42ish, and we're going to see a breakout - but for the answer as to which direction we're going to have to look at the overall market and fundamentals. But something is going to happen...