Smackdown!

[Neuro]

Yes, here it is, down around 2 bucks, since the high of the day. Below 30 by the end of the month?

[mick silver]

i seen that what a shock i tell you what a shock ... they drive it up make a ton of paper then smack it down

[ximmy]

It's been consolidating nicely above 30... next target... 50 d's ;D

[V10Silver]

It's option expiry tomorrow....Nothing new here. The whole thread about FOAM explained it pretty well. It'll be interesting how many are still standing after tomorrow. 10K = fireworks 20K or > Nuclear ground zero at COMEX and JPM. Time is on our side.

[Ponce]

Good vs Evil fighting now for that which is real money..........

[osoab]

So who was it that bought a sizable amount before the tank? :D

[RJB]

I saw the spot price and the title of this thread and thought, "those bastards."

Then I had to chuckle. Back when I first joined GIM1, I thought you guys were just paranoid nuts. Now, I guess I'm one too :)

[oldmansmith]

Nobody who owns silver should be complaining when $32.16 is a "smackdown."

[uncletonoose]

Well, we all have to bitch about something. ;D

[Neuro]

So who was it that bought a sizable amount before the tank? :D
I didn't, haven't bought any silver above 20, but I was considering selling some, until I started studying the lease rates. This could be just a temporary takedown for the option expiry... It could also be a longer term correction beginning, maybe down to the low mid 20's...

[milehi]

So who was it that bought a sizable amount before the tank? :D


I did! And I'm glad I did. I stopped by at lunch today and there was ony 90%. Any premium I paid was insurance. Another thing I've noticed in the last several months is that while hanging out at the shop, more sheep are coming in, asking questions, and placing somewhat large orders.

[BrewTech]

Guy I work with just jumped in for the first time at 34.00...

I warned him before that things like this happen, and he shouldn't worry too much about it.

It is a bit disturbing to a new trader though, watching your new "investment" lose over 5% a couple days after you buy your first metal...

I know... I went all in from April to September of '08... then August happened... lol

[osoab]

I can't believe some of the reasoning on this is due to a Twitter rumor Gadaffi was shot. Which hit oil, which hit some commodities, which drove the stock market higher. Margin hike on oil both on ICE and CME doesn't help either.

Damn, Blythe and company can really use b.s. to their advantage.

http://tfmetalsreport.blogspot.com/

[TheNocturnalEgyptian]

I need an AG buying opportunity . . . .

I'd wait until the summer doldrums, but I'm not sure the system can hang on that long .. .

[osoab]

I need an AG buying opportunity . . . .

I'd wait until the summer doldrums, but I'm not sure the system can hang on that long .. .




The market can stay irrational longer than you can stay solvent.
John Maynard Keynes (http://www.quotationspage.com/quote/38206.html), (attributed)
English economist (1883 - 1946)

I keep thinking about what will they do to extend the pain. Forcing the write down to underwater homeowners to the tune of 20 billion seems like one way. Granted 20 billion is chump change.

[JDRock]

I need an AG buying opportunity . . . .

I'd wait until the summer doldrums, but I'm not sure the system can hang on that long .. .

I agree.

[Trinity]

This could be just a temporary takedown for the option expiry... It could also be a longer term correction beginning, maybe down to the low mid 20's...

Low twenties? My good man if Silver ever trades down to the low twenties I will eat a rug!

[Libertytree]

This could be just a temporary takedown for the option expiry... It could also be a longer term correction beginning, maybe down to the low mid 20's...

Low twenties? My good man if Silver ever trades down to the low twenties I will eat a rug!


How tasty was that jacket Trinity? I know.....the jacket was delicious, it was that plate of crow that upset your stomach.

Define low/mid and I'll give ya a chance to make me eat my BOG.

[Spectrism]

Guy I work with just jumped in for the first time at 34.00...

I warned him before that things like this happen, and he shouldn't worry too much about it.

It is a bit disturbing to a new trader though, watching your new "investment" lose over 5% a couple days after you buy your first metal...

I know... I went all in from April to September of '08... then August happened... lol


I got a friend/customer to start buying when it was $18. Then it dropped to $16. I told her not to worry as I already bought a fair amount over $20. Look at the trend. The dollar will be worthless.

[Trinity]

This could be just a temporary takedown for the option expiry... It could also be a longer term correction beginning, maybe down to the low mid 20's...

Low twenties? My good man if Silver ever trades down to the low twenties I will eat a rug!


How tasty was that jacket Trinity? I know.....the jacket was delicious, it was that plate of crow that upset your stomach.

Define low/mid and I'll give ya a chance to make me eat my BOG.



I stick with 28 as the floor, plus I did say in that thread or maybe another at the time that we would hit 33 dollars by March or " I would crap my pants!". I would rather eat a jacket than crap my pants any day of the week.

[old steel]

Silver Backwardation Surges To Over $1.00

http://www.zerohedge.com/article/silver-backwardation-surges-over-100

comments comments comments

[Trinity]

My comment would be that the physical market is large and in charge now. Years ago I thought this would happen and now it has come to pass. I expect the physical market to take over completely and the paper market will eventualy lose it's reason for being.

[Neuro]

My comment would be that the physical market is large and in charge now. Years ago I thought this would happen and now it has come to pass. I expect the physical market to take over completely and the paper market will eventualy lose it's reason for being.
If that is true, we will never see Silver in the low 20's again, but I think it is too early to say that yet. The paper market is alive, but it is gasping for breath, and I don't know how it will be dying, going out with a bang or a silent peaceful event? I suspect the former...

[Neuro]

Nice recovery today... Will we see new hights next week? The market seems strong and perky!

[Spectrism]

I think we are seeing the result of dollar (frn) devaluation. Can anyone recall a time in the last 50 years when the FRN got more valuable?

What would it take for FRNs to grow in value? It would mean that the ability for Amerika to pay its bills without overprinting would have to be upheld. This would also mean that national debt would be covered by taxes. We all know this is not possible. The overspending of the past (and present) will only be placated by super overspending in the future.

Whether we have inflation or deflation, the FRN will devalue.

[Libertarian_Guard]

Nice recovery today... Will we see new hights next week? The market seems strong and perky!



http://i52.tinypic.com/ic1fkz.jpg

[Serpo]

Yes now higher(silver) then globex smack down 24hrs ago.....

[osoab]

Let's not forget Au closing above 1410. I think this is the 2nd highest weekly close for the relic.

Nice comeback. I wonder if Blythe and Company took today of after a successful smackdown yesterday.