SI January 2011

[MAGNES]

It looks like they are going to crush silver, $28 was taken out,
significant, some major drops, new intermediate lows, I don't
see any new highs, breaking $28 short term to the upside may
be possible, maybe to $29, I don't see it staying there,
the chart will be too strong if it does and they already worked
to break it to the downside. Feb Expirey is key month too,
So is Dec Expirey but last 2 years did nothing to it, last year
we had a very fast quick low in Feb. I have been watching
this carefully, soon they will break the $27-$26 range hard,
maybe on second go, looking for an entry. ;D

If you look at a COT chart , it does not tell you who closed out,
I highly doubt JPM closed out at a loss, the peak of chart was
$23 range , all their shorts were sub $23 and $20, volume charts
were crazy during the run up past this level , what happened ?

Some have speculated if JPM found some way of handing losses off
to other parties, they did scams like that with MBS and CDS derivatives,
found suckers. Why not on metals ?

http://snalaska.net/cot/current/charts/SI.png

[MAGNES]

http://stockcharts.com/c-sc/sc?s=$SILVER&p=D&yr=1&mn=0&dy=0&i=p42106480801&r=7838

[MAGNES]

Right after my post opening this thread, BANG !

Look at time of posts.

This ain't normal, this is a take down operation.
It is Thursday, chances are tomorrow won't be good,
and next week will downers, this is the setup.

I am disappointed, cause I was hanging around to
get an entry going short. At $29 maybe slightly sub.


http://i54.tinypic.com/1sy2yg.gif

[sirgonzo420]

I ain't sellin' (or rather, I'm not buying FRNs), and I have a feeling a moderate "correction" in the silver spot price won't have much impact on the current, real, physical price.

Premiums will rise if the paper-silver price falls.

[ximmy]

dealers & fleabayers aren't paying too much attention to spot... buying is all time high... ;D

[Neuro]

If you look at last year on the chart in the beginning of February the commercials were low on shorts, and price of silver was at $15, we ended the year at $31, certainly we can see some continued weakness, for a week or so, but I am not overly worried since I have an average purchase price around $13 ;D, probably around $10 if I count earlier realized profits. I think we will see Silver at $35-40 in April/May... Chinese will buy on dips...

[Libertytree]

In the near term does anyone see $25,22,20 even? It's not like it hasn't happened before.

[MAGNES]

http://i51.tinypic.com/2jg84ed.gif

[osoab]

http://www.finviz.com/fut_chart.ashx?t=DX&cot=098662&p=m5

coincided with the dollar rising this evening.

[Sparky]

I thought the thread title was referring to Sports Illustrated. I was expecting bikinis.

[vacuum]

Anyone think its likely to drop more? Wondering if I should buy some right now or wait.

[ximmy]

Anyone think its likely to drop more? Wondering if I should buy some right now or wait.


some now... some later...

[Trinity]

Silver is right at 28 again. Call me a chow hound but I say the bottom has been put in.

[ximmy]

two steps forward, one step back... dollars aren't getting any rarer

[Trinity]

Some have speculated if JPM found some way of handing losses off
to other parties, they did scams like that with MBS and CDS derivatives,
found suckers. Why not on metals ?

I think this might be the sucker OR a guy playing the sucker MAGNES.

http://www.zerohedge.com/article/meet-man-behind-liquidating-hedge-fund-blew-gold-market

[RUSH.IS.A.BAND]

Yeah, but.. ? ... in 24hrs.?

[Trinity]

Sorry Rush, I'm not saying that trader is responsible for the last few days move in Gold. I was saying that this trader might be the one that is getting losses handed off to him from the big downtown boys. As MAGNES was thinking could happen.

[kregener]

So?

You do not want another buying opportunity?

[RJB]

two steps forward, one step back... dollars aren't getting any rarer Signature material.