Speculation: What's the next "cealing" for Silver?

[Gaillo]

Simple poll... what will be the next strong "resistance" price point for Silver, give or take a dollar or so?

[DMac]

IMO, 40 - we're hitting resistance now. Silver at 40 equals many millions, if not billions, lost on Blythe's desk. I think we drop sub 30 as soon as we hit 39-40.

[SLV^GLD]

I never vote in polls but I put one in $40. Psychology seems to be a big obstacle with silver. $30 was such a psychological barrier that once it was broken there was no preconceived ceiling ready for the next resistance. I think a new number in the 10 column is another psychological barrier. I expect $40 may well get broken but I think it will weeble wobble sideways from there and I also think some correction is due. The bull has to catch his breath after such strong runs.

[Ponce]

At night time (like last night) you can see silver going up, up, up, and then when the market opens in the US it goes down.........that's the coat and ties building up the market in Europe up and then going short in the US.......I have been in the silver market now for 29 years and the games being played is the same.

DMac? I am with you on that.

[JJ.G0ldD0t]

IMO, 40 - we're hitting resistance now. Silver at 40 equals many millions, if not billions, lost on Blythe's desk. I think we drop sub 30 as soon as we hit 39-40.



This has mirrored my train of thought. I've been kicking around the thought of unloading 100 SAE's at or near this next top or at least inquiring as to what kind of a sell premium I can expect - if any. THEN picking up some generic 1 ozers or morgans or Peace dollars on the correction.

[MAGNES]

Watch gold it is basing above 1425, very strong, silver will land somewhere.

Doing 50 % consolidation points we get a target for 1525, 1625, charts aren't clear,
but we are going higher looks like.

I want to know what happened to shorts, major short positions on COT chart were taken
sub $23 and sub $20, first time in recent history of a few years we had higher highs on SI
with COT shorts dropping. Who are the shorts now ? There was a 1 : 1 correlation, SI highs
and COT short highs for years.

First time in history too we have seen incredible volumes of trading on some days.
Very strange. 2 - 3 times OI , on the run up to 30 and that price range.

If we had transparency it would be great, we don't, TOCOM did have that, daily COT
with all positions transparent to all, GS was largest manipulator and they left TOCOM
cause everyone was watching.

[Neuro]

I think we may have hit the ceiling already, but I wouldn't be overly surprised if it goes up to 40 or even 44, in the next couple of weeks. It is incredibly difficult to predict where the top will be, but I am pretty sure that if you sell now, you will be able to repurchase your silver a few months later at a lower price.

[Gaillo]

I went for $44, although my gut tells me probably closer to $50.
As MAGNES stated, there are factors at work currently that have no historical precedent... it looks like the "paper silver" market is on the verge of collapse, pullout of commercial banks short positions, all occuring simultaneously with Middle East chaos (and associated oil prices jumping). Throw in QE2, China pushing the Yuan as a global reserve currency, gas price jumps, and some food scarcity due to the freeze... it might just turn into the "perfect storm" for silver!
We'll see... I wish I had Neuro's confidence in another large dip - I'd be tempted to sell a bit right now! ;)

[JJ.G0ldD0t]

We'll see... I wish I had Neuro's confidence in another large dip - I'd be tempted to sell a bit right now! ;)


DITTO

SO TORN!!!

Totally want to be:
http://caseysheamusic.com/blog/wp-content/uploads/2011/03/charlie-sheen-winning.png

[Neuro]

That is the most difficult part, to be able to sell at the top. The overruling psychology of the top is that there are NO other possible investments to make, all other investments looks crap, at that point. Fiat looks awful, it can only go down, eventually it will, but nothing goes straight into the sky, a pullback is sometimes necessary to regain momentum... I don't believe we are at the blow up top yet, public awareness is not there yet, everyone needs to talk about silver, and then it will blow off...

[JohnQPublic]

That is the most difficult part, to be able to sell at the top. The overruling psychology of the top is that there are NO other possible investments to make, all other investments looks crap, at that point. Fiat looks awful, it can only go down, eventually it will, but nothing goes straight into the sky, a pullback is sometimes necessary to regain momentum... I don't believe we are at the blow up top yet, public awareness is not there yet, everyone needs to talk about silver, and then it will blow off...


In Zimbabwe the inflection was when they switched to the US$ as official currency. They are now in line to reach the "top" with us.

[Trinity]

That is the most difficult part, to be able to sell at the top.

The approach I plan on taking is to slowly start selling at $80 and continue right up to the $140-$160 top.
Or I just might throw the stuff out instead.

[SilverMagnet]

The global industry consumption alone will be all that is necessary to close the gap on the remaining above ground supply within the next 10 years. When recycling becomes inevitable, copper will take its place for industrial consumption.

There is no cap on a commodity which is relied on so heavily in modern civilization.

[Sparky]

That is the most difficult part, to be able to sell at the top.

The approach I plan on taking is to slowly start selling at $80 and continue right up to the $140-$160 top.
Or I just might throw the stuff out instead.


That sounds good, but you clearly have not done your homework on how the top will arrive! In 1980, the final doubling of price took place over 10 trading days. How are you going to "slowly start selling"? Any of us will be lucky to get even one sale off during the final doubling.

[skid]

There's a few tired old weak hands! Yeah, sell your silver into some stronger hands... Silver has a long way to go before it even hits mainstream, much less a top. Unless you are buying preps or land, selling silver for fiat is foolish. Any substantial dip will be short term if it even occurs IMO. It aint like the old days anymore, as there is little silver available in quantity on the crimex.

[bellevuebully]

There's a few tired old weak hands! Yeah, sell your silver into some stronger hands... Silver has a long way to go before it even hits mainstream, much less a top. Unless you are buying preps or land, selling silver for fiat is foolish. Any substantial dip will be short term if it even occurs IMO. It aint like the old days anymore, as there is little silver available in quantity on the crimex.



I had mentioned in another thread that I had talked to a broker who happened to be a district manager in a fairly wide area and asked how many clients that he was aware of that owned any silver mining stocks. His answer was 2....him and me. Hahahaha. I'm holding.

[oldmansmith]

That is the most difficult part, to be able to sell at the top.

The approach I plan on taking is to slowly start selling at $80 and continue right up to the $140-$160 top.
Or I just might throw the stuff out instead.


That sounds good, but you clearly have not done your homework on how the top will arrive! In 1980, the final doubling of price took place over 10 trading days. How are you going to "slowly start selling"? Any of us will be lucky to get even one sale off during the final doubling.



It may be different this time, unless you are selling for Ameros or something. In 1980 we were in much better shape than we are now. This time, the dollar could literally go to zero.

[Horn]

Where's the bottom @ now is the more prudent question.

[Trinity]

That sounds good, but you clearly have not done your homework on how the top will arrive! In 1980, the final doubling of price took place over 10 trading days. How are you going to "slowly start selling"? Any of us will be lucky to get even one sale off during the final doubling.
[/quote]

Although I have been in agreement with you that this rally will pretty much ryme with the seventies rally I do not think we will have a parabolic spike like the seventies, more of a mountain top like how the stock market peaked in '07. I can't see anytime in the future when will we will have another Volker moment when interest rates are raised massively by the Fed to cool demand in this country. China might have to raise interest rates massively in the future, but not the U.S.