6 Nov 11-Silver at 40 by Friday 11 Nov

[neilgin1]

I've stacked on and off lightly but haven't yet reached my comfort level for emergency funds. Off trying to buy my wife a handgun and a cheap ride right now. Frustrating.

Tex, i know.....times are hard, and i pray for you that comfort level goes higher, and your frustration level goes into a bear market.
neil

[rexmerdinus]

Hey, 870 is a pretty decent shotgun. I'm looking to buy one for my wife to keep around the house. They have a better balance than the Mossberg imho. She actually wants a handgun first, though. For now we've got the 1100, and my Belgium made Sweet 16 that I'm looking to get rid of and pick up a couple of P95's or such.

870 beats the mossberg any day of the week. Not only, as you say, is the balance better, but the 870 is far more well-made and with more add-on parts available, more versatile. I know one guy in particular that owns about a dozen or so 870 shotguns, each set up for a different purpose--Turkeys, partridge, deer (short range), deer (medium range), home-defense, etc.

For other weapons, I'm not a fan of the soviet-bloc stuff, for a lot of reasons, but I DO agree with Neil about getting military calibres, mainly because there will ALWAYS be ammo available. .45 for the sidearm, and .223 for the rifle. Added to that, I am much in love with .40 and .357sig, mainly because I have carried one or the other at work for so many years (and have an undisclosed number of rounds for each in my stash!). And for sheer knockdorn power on moose or bear, I love my 450 Bushmaster.

I'm a gun dealer and a cop, so I could talk about this shizzle for hours, but unfortunately I have to go to work. Be safe all!

[neilgin1]

I'm a gun dealer and a cop, so I could talk about this shizzle for hours, but unfortunately I have to go to work. Be safe all!

Hey Rex, i just wanted to thank you for your service bro..i mean that, from the bottom of my heart. Anybody that puts a uniform on, with the credo, "To serve and protect", burned into their soul, is a special kind of individual, and that includes, FD, paramedic's, first responder's, all branches of the service. Law enforcement isnt easy, coz you see the worst aspects of broken human lives, and it must be real easy to get cynical and burnt out, and still maintain mercy and hope...so thank you brother, wherever you are.

back to the shizzle, i could talk it too. i usually dont, specially in person. i try and be tight about operational security, i'm also really uptight about the responsibility of the 2nd amendment, and people that take weapons handling lightly, or "play" with guns, etc. etc. But i just wanna tell you why i'm fascinated with the Tula SKS. i've always loathed soviet communism, i thought that stalin, beria, and molotov, were just kissing cousins of hitler, BUT the Russian people took an enormous hit from the nazi's and they HELD, despite hideous losses of life, not only in their poorly led divisions, but among the civilian populace. So when the wall fell, i began to see SKS's being dumped in the States, sold by corrupt soviet generals, for next to nothing. Stupidly, i picked up a Chinese SKS's, just for "tune-up" rifle, and i also picked up a 1951 Tula Russian SKS. same price. i noticed the chinese rifle was of poor manufacture, but the Russian Tula, was of fine manufacture, and being able to study histories, i looked into the reason of quality differences. The Tula plant HAD to get their shizzle together, because they were one of the main arsenals of the Russians fighting this desperate fight against a superior force, so in the 1951-1954 Tula SKS's, you see the distillation of main battle rifle technology brought to a fine edge. Then the Russians choose to go with the AK-47, which is just really a 'stolen' German designed assault rifle, i think its called the STG-44 (i went and looked it up, i was right, StG 44, here http://en.wikipedia.org/wiki/StG_44 ) .....so i like those Tula SKS's , because to me they represent, a people HOLDING the line, even when all about you is darkness...otherwise i'm NATO all the way....its just WAY expensive to get NATO'ed. lol ..stay safe, neil...okay...now i get back on topic.

[neilgin1]

BACK ON TOPIC...(lol) i just came to post.....you know, just watching the market trade, is a tad spooky this week, and i'll tell you why. It seems like the markets, PM's, grains, equities, currencies, are all just treading water,and holding their collective breathes, like there's a storm brewing, everyone's heard the forecasts, you can see the gathering clouds, but nobody really KNOWS what is coming, except that whatever it is, cant be good, and thats the really unsettling part for me personally...so i'm gonna stick with my gut instinct and say 40 by Friday. If i was stupid and/or wealthy enough to trade futures (hah!) thats what i;d be gunning up for, 40 by Friday, retest of resistance at 44, and a spectacular pop above 50, BASIS March futures, not Dec. nuff said, we out.

[silverflake]

Don't know about silver at $40 by the end of this week (could happen) but it is most certainly building strength.

Oh, and on the gun purchase, ended up with a Benelli Nova. Now I gotta learn how to use the thing.

By the way, a gun newbie like me, when they were pulling down the shotguns to hold and look at, it was REALLY COOL! Do I sound like a nine year old?

Keep stackin!!!!!

[rexmerdinus]

I appreciate the kind words, Neil.

Silverflake:
Of course it's ok if you sound like a nine year old with guns--I still do! Just don't act like one with your new tool--but still have fun with it. Happy shooting!

[Jonflyfish]

Don't know about silver at $40 by the end of this week (could happen) but it is most certainly building strength.

Oh, and on the gun purchase, ended up with a Benelli Nova. Now I gotta learn how to use the thing.

By the way, a gun newbie like me, when they were pulling down the shotguns to hold and look at, it was REALLY COOL! Do I sound like a nine year old?

Keep stackin!!!!!

Great guns silverflake. I have a Benelli Super Black Eagle for game and a M1 Super 90 (cycles 6 rounds 3 " magnum/second) for safety.

Cheers!

[slickeast]

Looks more like $30 by the end of the week

[neilgin1]

Looks more like $30 by the end of the week

still got two days left....hahahaha, but yes, looks like i was off, but consider this, three years ago, would $30 be considered "low"?

[BOHICA]

$20 per oz by next Tuesday since I listed a bunch of silver on feebay last night.

[HoardCopperByTheTon]

I sold off a tiny amount tonight.. just 8 ounces.. that should drive the market back up.

[Silver Addict]

but consider this, three years ago, would $30 be considered "low"?

One year ago it wasn't considered low.

[PeacePeople]

Stagnant markets right now, nobody knows who's doing what to whom....for a little while. Silver Addict is right, $30 was huge money when silver got there at the end of Dec last year...

[Cu Penny Hoarder]

A general comment not necessarly directed at the OP...

There is no way someone can accurately call short term moves in any market. The markets are way too manipulated. If by some chance the market moved the way someone said it would... they simply got lucky.

We are living in bizzaro world... common sense, logic, technicals and fundamental analysis do not work anymore. If you are not on the inside, you are on the outside.

The only thing we should be doing with PMs is continue accumulating and buying the dips.

[Jonflyfish]

The future is always unknowable regardless of whatever reason you imagine.
Once that is accepted, you don't need to know the future in order to make massive trading profits from what comes next.

Cheers!

[pennypicker]

I sold off a tiny amount tonight.. just 8 ounces.. that should drive the market back up.

I just sold (23) '64 Kennedy halves on the Medford, Oregon craigslist yesterday...that should drive the market back up as well.

[neilgin1]

considering everything, 34.10 is NOT a bad close. i really believe that the days where large entities can do a push down, are losing their potentcy, but i agree with CU Penny, forget the inside baseball stuff, just big picture stack and hoard.

[Jonflyfish]

considering everything, 34.10 is NOT a bad close. i really believe that the days where large entities can do a push down, are losing their potentcy, but i agree with CU Penny, forget the inside baseball stuff, just big picture stack and hoard.

The close is not good or bad. It just is what it is.
Cheers!

[neilgin1]

considering everything, 34.10 is NOT a bad close. i really believe that the days where large entities can do a push down, are losing their potentcy, but i agree with CU Penny, forget the inside baseball stuff, just big picture stack and hoard.

The close is not good or bad. It just is what it is.
Cheers!

thanks for that clarification....\ /.

[Computer Jones]

You're just off a week.
Probably that stupid fall back to standard time got you Ag biorhythms messed up.
It'll be $40 NEXT Friday.

Keep up the insightful posts!

[tractorman]

Today's silver price is low because the $ got stronger. Ha! The $ is stronger only compared to others' failures. Don't be fooled, we didn't get better here in the US all of a sudden ... did we?

[silverflake]

Deathcross.

Apparently late last week, silver experienced a 'deathcross'. 50 day moving average moved below 200 day moving average. Now, I use some very BASIC technicals when I buy and sell stocks etc. but evidently this is bearish? Comments? How about nielgin1 and 68camaro. You two seem to have a good grasp of these things. What are the chances that this is a bearish sign?

Either way, keep stacking.

[68Camaro]

Well, that is considered a technical indicator of sentiment/weakness, so if one was working purely off technicals it would be a sell or short sign, but it's a warning, not a law. There is nothing magic about the 50/200 combi except that it has been observed to be more often accurate than any other two combos.

Normally it is supposed to be an advance predictor, but in this case the big initial drop that started the trend toward the cross happened well before the cross. The last time this happened, in mid 08, it crossed before the dip, and was a good predictor.

So this time it either was a poor predictor, because of the way the data lined up and the difference pressures behind what is driving price,... or ... if it is still a good predictor, then that suggests we've got a much bigger dip ahead of us.

Given that PM's tend to work with each other, and that gold also crossed at the same time in 08 but has not crossed this time, I personally think it is an outlier and that the 50 won't stay below 200 for silver for any length of time.

Time will tell. I personally am not letting it affect my buying decisions unless other factors/data come in to support it. The other factors continue to support silver, at the moment. Just my 2 cents.

[neilgin1]

the board is the board, and lately my MAIN CONCERN has been the ramifications of the MF Global implosion, ie, to date, i know of guys with sizeable accounts that have no access to these funds. in the "world" of futures, one of the foundational pillars is this, customer funds/accts are segregated, inviolate, UNTOUCHABLE. Now if the various futures exchanges DO NOT make these accounts 100 cents on the dollar, whole...that will be more bad than any of us could dream of.
Already, i've noticed that volume is off by 50% in a wide range of futures and that includes PM's. Now you say what you want about the Comex pricing mechanism, but if we dont have SOME benchmark to pin physicals to...oh boy, the rides about to get very rough, so keep an eye on that....my word of caution is get out of any "paper" PM vehicle now...NOW!...but everybody here's a grown up and can make their own calls.