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bellevuebully
6th December 2010, 08:24 AM
;D ;D ;D ;D ;D ;DNew York Spot Price

MARKET IS OPEN
(Will close in 5 hrs. 53 mins.)
Metals
Date
Time
(EST)
Bid
Ask
Change
Low
High

GOLD
12/06/2010
11:22
1420.30
1421.30
+5.80
+0.41%
1410.40
1422.00

SILVER
12/06/2010
11:22 30.00 30.02
+0.62
+2.11%
29.52
30.03

PLATINUM
12/06/2010
11:21
1724.00
1732.00
-1.00
-0.06%
1713.00
1734.00

PALLADIUM
12/06/2010
11:21
761.00
767.00
-6.00
-0.78%
755.00
770.00

SLV^GLD
6th December 2010, 08:48 AM
Who here thinks the days of sub-$20 are officially gone never to return?
I do.

undgrd
6th December 2010, 08:52 AM
http://t1.gstatic.com/images?q=tbn:ANd9GcQHVr6MYrutAi3a8QzgSa-fUAnmtZOMXKgCo3OpCS77fLaGYT56mg

osoab
6th December 2010, 08:52 AM
Who here thinks the days of sub-$20 are officially gone never to return?
I do.


I don't think we will see sub $20, but I sure would take it off of someones hands at a sub $20. ;D

bellevuebully
6th December 2010, 08:56 AM
My personal opinion.......Once we get a couple of closes over 30, the window of opportunity for those with no core position is rapidly disappearing. It'll be price chasing from here on in, unless one is very disciplined to only buy on dips. That being said, the silver stocks are still pretty much lepers, as far as how eager the general public is to get involved with them. That is a redeeming factor for the above mentioned group. But that too will quickly change.

DMac
6th December 2010, 08:58 AM
and boom goes the dynamite

2010 $30 silver
2011 $50 silver?

bellevuebully
6th December 2010, 08:59 AM
Pretty funny to watch......they're obviously losing control on the Ag market, and you can see the shorting action on the miners as both metals reach into new highs. lol. Go ahead....short the jr's....please. 8)

bellevuebully
6th December 2010, 09:03 AM
Hey Silver Art........take a look at the time I posted the op and have a look at the chart on kitco and see when it broke 30.......I'm pretty sure I need help, hahaha! :ROFL: :ROFL:

1970 silver art
6th December 2010, 09:18 AM
Hey Silver Art........take a look at the time I posted the op and have a look at the chart on kitco and see when it broke 30.......I'm pretty sure I need help, hahaha! :ROFL: :ROFL:


:ROFL:

I do not think that you need help from me on this. I am just so happy that my gut feeling prediction of silver finishing at $23 or above on December 31, 2010 appears to be on it's way of becoming true. :)

bellevuebully
6th December 2010, 09:24 AM
Short that market boyz......30 bucks then bammmmmm!! They must want the Chinese to have a lot of silver.

gunDriller
6th December 2010, 12:46 PM
I do not think that you need help from me on this. I am just so happy that my gut feeling prediction of silver finishing at $23 or above on December 31, 2010 appears to be on it's way of becoming true. :)


that seems like such a conservative prediction now.

http://www.pumpfootwear.com/images/Rocket%20Dog%20Logo2.JPG

Sparky
6th December 2010, 12:47 PM
Reflecting on $30 silver...

I remember a newbie planning a trip to the coin shop in 2005 to purchase some silver. Spot price was $6.60. He couldn't make it to the store that day, so he went the next morning. Overnight, the price had gone from $6.60 to $7, and on the drive to the store the price went to $7.20! For perspective, that's the equivalent of a $3 24-hour gain on today's $30 silver! He bought anyway, only to see the price drift back down below $7 over the next 6 months. Interestingly, at the time, he felt that the $7 price would some day be irrelevant.

That fall, there was a spike above $9, which was significant because it surpassed the 2004 spike from $6 to $8. Then in May 2006, there was the heady advance to $15. To da moon!

Following was a rapid, sobering decline to below $10 over the next month. It would take 18 months to reach $15 again, with a quick spike to $16 in November 2007. After a pause, this was followed up by the breaking of the magical $20 barrier in March 2008. To da moon!

Alas, the next 7 months were not so kind, as we watched nearly three years of gains go down the tubes as silver ground down all the way below $10 by October 2009. I remember so many of us were still strong believers, but there was no physical to be bought at that price. It took a full year for the price to recover to the $18 level by October 2009. The price then languished at the $18 level for another full year. This was particularly disturbing as we watched gold establish a series of new highs. By early September 2010, it had been 30 months since we had seen the magical $20 mark! When would we ever to see it again?

So what has taken place since then has truly been remarkable. Blowing through $20 in September. Then quickly to $22 and $24. A short pause, only to spike to $28. An inevitable pullback to $25 in November made us wonder how deep the correction could go. But less than a month later, we've punched through $30. To da moon! I think back to that newbie in the coin shop, fretting a bit about having to pay for $7 spot silver!

So, $30 could be it for a while, or maybe we'll continue on up to as high as $33 or $35 this winter. Either way, I'm pretty sure we'll be pulling back by next summer, most likely well below today's exhilarating $30 mark, and perhaps into the low $20s, or conceivably even into the high teens. My view is that it's somewhat irrelevant, other than that a significantly lower price would present the next "last chance" to get on board the silver train. From a technical perspective, we should actually be happy to see a healthy correction to attract a new foundation of buyers to build the next floor of the price ladder.

I still remember that dealer explaining to the newbie how he made money on 90% junk silver by buying it at 4x face value, and selling it at 4.5x. And to think years later, he is making money by buying it at 21x, and selling it at 22x. Amazing. Let's pause to think about that, and then see where the train rolls from here.

Libertarian_Guard
6th December 2010, 01:08 PM
I remember buying 10 oz silver bars a few years ago. The dealer was ticked off with me because I was not interested in his higher priced graded stuff, and I could see it in his eyes, that he regretted selling letting me have the 10 oz bars for little more than $50 each. I knew it was the bargian de jour and almost like taking candy from a baby. But there it was, so how could I resist?

bellevuebully
6th December 2010, 01:55 PM
I'm quite impressed at how any downside is exploited. Tells me there is room to run. As I have said before, what used to constitute a bear raid has been reduced to the seriousness of a panty raid. No more multi day waterfall action. Maybe we will see it in the future, but in all seriousness, it think the users are going to go into hoarding mode. All they have to do is look at the massive drawdown of inventories over the last 25 years, factor in increased investment demand and they will come to the conclusion that it is not worth risking having problems with supply. mvho

cedarchopper
6th December 2010, 02:07 PM
Good summary, Sparky. Hard to believe, really...we all knew it was a bargain in the $5 to $7 range, but I sure didn't know the ride would be this rough.

1970 silver art
6th December 2010, 02:53 PM
I do not think that you need help from me on this. I am just so happy that my gut feeling prediction of silver finishing at $23 or above on December 31, 2010 appears to be on it's way of becoming true. :)


that seems like such a conservative prediction now.

http://www.pumpfootwear.com/images/Rocket%20Dog%20Logo2.JPG


Yeah I will admit that when I made this gut feeling prediction earlier this year of silver finishing at $23 or higher on December 31, 2010, I was going way out on a limb thinking that I was going to be wrong but that does not seem to be the case now and when my gut feeling prediction is officially correct on Dec. 31, 2010, then I will celebrate with pepperoni pizza and orange juice. ;D

Now if gold can finish at $1450 or higher on December 31, 2010, then my second gut feeling predicton will come true. We will see about that one.

Serpo
6th December 2010, 05:24 PM
Reflecting on $30 silver...

I remember a newbie planning a trip to the coin shop in 2005 to purchase some silver. Spot price was $6.60. He couldn't make it to the store that day, so he went the next morning. Overnight, the price had gone from $6.60 to $7, and on the drive to the store the price went to $7.20! For perspective, that's the equivalent of a $3 24-hour gain on today's $30 silver! He bought anyway, only to see the price drift back down below $7 over the next 6 months. Interestingly, at the time, he felt that the $7 price would some day be irrelevant.

That fall, there was a spike above $9, which was significant because it surpassed the 2004 spike from $6 to $8. Then in May 2006, there was the heady advance to $15. To da moon!

Following was a rapid, sobering decline to below $10 over the next month. It would take 18 months to reach $15 again, with a quick spike to $16 in November 2007. After a pause, this was followed up by the breaking of the magical $20 barrier in March 2008. To da moon!

Alas, the next 7 months were not so kind, as we watched nearly three years of gains go down the tubes as silver ground down all the way below $10 by October 2009. I remember so many of us were still strong believers, but there was no physical to be bought at that price. It took a full year for the price to recover to the $18 level by October 2009. The price then languished at the $18 level for another full year. This was particularly disturbing as we watched gold establish a series of new highs. By early September 2010, it had been 30 months since we had seen the magical $20 mark! When would we ever to see it again?

So what has taken place since then has truly been remarkable. Blowing through $20 in September. Then quickly to $22 and $24. A short pause, only to spike to $28. An inevitable pullback to $25 in November made us wonder how deep the correction could go. But less than a month later, we've punched through $30. To da moon! I think back to that newbie in the coin shop, fretting a bit about having to pay for $7 spot silver!

So, $30 could be it for a while, or maybe we'll continue on up to as high as $33 or $35 this winter. Either way, I'm pretty sure we'll be pulling back by next summer, most likely well below today's exhilarating $30 mark, and perhaps into the low $20s, or conceivably even into the high teens. My view is that it's somewhat irrelevant, other than that a significantly lower price would present the next "last chance" to get on board the silver train. From a technical perspective, we should actually be happy to see a healthy correction to attract a new foundation of buyers to build the next floor of the price ladder.

I still remember that dealer explaining to the newbie how he made money on 90% junk silver by buying it at 4x face value, and selling it at 4.5x. And to think years later, he is making money by buying it at 21x, and selling it at 22x. Amazing. Let's pause to think about that, and then see where the train rolls from here.


How many powerful bull runs break down mid way and let you get in for a cheap price.

The cat is out of the bag

Who knows what can happen,remember silver has just gone to 30$ after being held down for ages,35$ is next target,and when it goes higher then that its of to 55$.

The beach ball is exploding out of the water.

Can J Pee Morgan get out of their short position,probably not now that Max Kaisier has managed to loosen their grip on the beach ball and it has been released.


I just wouldnt count on it going down too far right now ,maybe a bit later it may,we are in the gold season,it may come down later from a higher level but it may have trouble getting back into the twenties as surly its heading to 70$ in a matter of no time.

bellevuebully
6th December 2010, 07:58 PM
I just wouldnt count on it going down too far right now ,maybe a bit later it may,we are in the gold season,it may come down later from a higher level but it may have trouble getting back into the twenties as surly its heading to 70$ in a matter of no time.



I have to agree with what you are saying for the most part. However, we must remember that as long as the paper markets exist, there will be profit taking. The leveraged profits are too good an offering to pass on. Traders will take profits. But the slack on the dips has tightened impressively. Put it this way though....I wouldn't be at all surprised to see 50 in fairly short order. I mean Au is 50% above it's old nominal highs and Ag 50% below. I get the impression many tend to forget that fact. Even at $50, it's still trailing considerably, and the track record of silver is to outperform Au on the upside.....so where does that put it? I guess if we're above ground for a while, we'll find out.

SilverMagnet
7th December 2010, 12:59 AM
I really don't see it going down much over the next year. In fact I think it will be the opposite. There are many reasons for this, but I think the main reason is going to be the cell phone and electric car craze going on in China right now. That's just one reason among many. As far as looking for dips goes, I plan to continue buying as much as possible all the way up to the $50 mark, then I'm setting my sail up and will coast into the storm.

Kali
7th December 2010, 01:27 AM
I remember in 2008 when silver went over $20...the forums were full of people saying we wouldn't see sub 20 again...well it ended up going back to something like $9.

History says it will drop back down again...it shouldnt because of supply and demand but the big dogs control the price, not us buyers and sellers.

I would say we will see sub 20 again within a few months.

These are of course unique times we live in and if this is leading us to the official SHTF time period then it may not get that low again.

I knew I should have "backed up the truck" in October 2008.

I hope it drops again...I dont feel like I ever have enough :)

JohnQPublic
7th December 2010, 06:31 AM
You may be right, Kali, but I think in 2008 we did avoid total SHTF (kicked the can down the road so to speak), and instead are on a long, slow road to serfdom, which will be accompanied by an attempted dollar devaluation. Of course any time along that road things can go non-linear, and we could find ourselves right back to a 2008 like emergency. We live in unstable times.

Libertarian_Guard
13th December 2010, 06:23 AM
http://i53.tinypic.com/333l6ox.jpg

mike88
13th December 2010, 06:39 AM
buyer under 40/oz. put order in sunday@ provident, used 1/2 available FRN. I predict support in high 30's in 4 mos. time orr less. Apmex 0ne month out on many silver products. Stocks will have a green day today i think.

gunDriller
13th December 2010, 09:55 AM
You may be right, Kali, but I think in 2008 we did avoid total SHTF (kicked the can down the road so to speak), and instead are on a long, slow road to serfdom, which will be accompanied by an attempted dollar devaluation. Of course any time along that road things can go non-linear, and we could find ourselves right back to a 2008 like emergency. We live in unstable times.


attempted ?

i think they succeeded big time.

Libertarian_Guard
13th December 2010, 12:05 PM
You may be right, Kali, but I think in 2008 we did avoid total SHTF (kicked the can down the road so to speak), and instead are on a long, slow road to serfdom, which will be accompanied by an attempted dollar devaluation. Of course any time along that road things can go non-linear, and we could find ourselves right back to a 2008 like emergency. We live in unstable times.



"We are completely dependent on the commercial banks. Someone has to borrow every dollar we have in circulation, cash, or credit. If the banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless position is almost incredible, but there it is. It [the banking problem] is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects are remedied very soon."

Robert H. Hemphill (Credit Manager, Federal Reserve Bank in Atlanta)




“The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it.” Money: Whence it came, where it went - 1975 JK Gailbraith