38

[JJ.G0ldD0t]

yup

wow

didnt see that coming tonight...

Is it EVER gonna correct???


I wanna buy more!

http://www.kitco.com/images/live/silver.gif

[1970 silver art]

I am sure at some point that silver will correct but I do not know at what point that will be. Even if the spot silver price does correct, what will silver premiums do? No one really knows.

[Awoke]

If by "correct" you mean "Shoot to fifty dollars", then yes. Sometime soon, it will correct.

* fingers crossed *

[Libertarian_Guard]

http://i52.tinypic.com/b89tlv.jpg

[Mouse]

I have been looking at time series of daily markets on Comex and unfortunately, I cannot find actual data, just the kitco charts. If you look at the trading time and action chart over a long enough period of time - it almost is too obvious that you could execute a strategy EVERY DAY and statistically you would come out winning. I am looking for hard data to support this, and also one must realize this is the JP Morgue strategy, which things are moving pretty fast now, could change (in fact did over the last couple days). For every day except the couple days around expiration:

Wake up, get a coffee, check the news.
Sell a silver contract at 9AM NY time.
Watch the prices. If it's moving down at 10AM buy a silver contract and close the position.
If it's going against you, hang in there until before lunch, it will usually go down by then. So buy your contract before lunch and go fishing (11:30 seems to be the time to cash in).

Between 9 and 10 AM you almost always have downward moves of 10-40 cents. On a single contract you can make $500 on a ten cent drop. Of course some days you are GOING to lose, but it never moves more than a buck, so even if you get creamed you lose $5000.

Short a contract at 9 and buy back at 10AM and you could make 500-3000 a day without doing anything but clicking your mouse a couple times.

[Sparky]

I have been looking at time series of daily markets on Comex and unfortunately, I cannot find actual data, just the kitco charts. If you look at the trading time and action chart over a long enough period of time - it almost is too obvious that you could execute a strategy EVERY DAY and statistically you would come out winning. I am looking for hard data to support this, and also one must realize this is the JP Morgue strategy, which things are moving pretty fast now, could change (in fact did over the last couple days). For every day except the couple days around expiration:

Wake up, get a coffee, check the news.
Sell a silver contract at 9AM NY time.
Watch the prices. If it's moving down at 10AM buy a silver contract and close the position.
If it's going against you, hang in there until before lunch, it will usually go down by then. So buy your contract before lunch and go fishing (11:30 seems to be the time to cash in).

Between 9 and 10 AM you almost always have downward moves of 10-40 cents. On a single contract you can make $500 on a ten cent drop. Of course some days you are GOING to lose, but it never moves more than a buck, so even if you get creamed you lose $5000.

Short a contract at 9 and buy back at 10AM and you could make 500-3000 a day without doing anything but clicking your mouse a couple times.



Why don't you try an experiment with the kitco daily charts? Short at 9, buy at 10 every day for 3 months. I think you'll find there's nothing there.

[JJ.G0ldD0t]

I have been looking at time series of daily markets on Comex and unfortunately, I cannot find actual data, just the kitco charts. If you look at the trading time and action chart over a long enough period of time - it almost is too obvious that you could execute a strategy EVERY DAY and statistically you would come out winning. I am looking for hard data to support this, and also one must realize this is the JP Morgue strategy, which things are moving pretty fast now, could change (in fact did over the last couple days). For every day except the couple days around expiration:

Wake up, get a coffee, check the news.
Sell a silver contract at 9AM NY time.
Watch the prices. If it's moving down at 10AM buy a silver contract and close the position.
If it's going against you, hang in there until before lunch, it will usually go down by then. So buy your contract before lunch and go fishing (11:30 seems to be the time to cash in).

Between 9 and 10 AM you almost always have downward moves of 10-40 cents. On a single contract you can make $500 on a ten cent drop. Of course some days you are GOING to lose, but it never moves more than a buck, so even if you get creamed you lose $5000.

Short a contract at 9 and buy back at 10AM and you could make 500-3000 a day without doing anything but clicking your mouse a couple times.



you go first :D

[JJ.G0ldD0t]

If by "correct" you mean "Shoot to fifty dollars", then yes. Sometime soon, it will correct.

* fingers crossed *


I should have qualified correct with quotation marks... the move up is the REAL correction!

[Sparky]

I am sure at some point that silver will correct but I do not know at what point that will be. Even if the spot silver price does correct, what will silver premiums do? No one really knows.



A few months ago I expected peak price to be in April. But silver shot up so fast in February into March that I though maybe that was it. But now that we've made it to April, and silver is at a new high, I would expect it to continue upward until gold hits a new high (above $1349), and then they will both have an exhaustion correction over the next 6-9 months.

Bottom line, I expect silver to flirt with $40 in April, then pull back for many months, with the most dramatic plunge coming right away. Most years the bottoms are in July, with a secondary hit in October. So I think we're looking at $28-$32 by July, and if there's a second wave down, perhaps $24-$28 this fall. That would be a tremendous opportunity.

[Spectrism]

I am sure at some point that silver will correct but I do not know at what point that will be. Even if the spot silver price does correct, what will silver premiums do? No one really knows.



A few months ago I expected peak price to be in April. But silver shot up so fast in February into March that I though maybe that was it. But now that we've made it to April, and silver is at a new high, I would expect it to continue upward until gold hits a new high (above $1349), and then they will both have an exhaustion correction over the next 6-9 months.

Bottom line, I expect silver to flirt with $40 in April, then pull back for many months, with the most dramatic plunge coming right away. Most years the bottoms are in July, with a secondary hit in October. So I think we're looking at $28-$32 by July, and if there's a second wave down, perhaps $24-$28 this fall. That would be a tremendous opportunity.


I hope that is true.... but there are no rules, patterns or reason to the markets. As long as the federal reserve will keep buying crap- printing money- the prices of most things will go up. If there is a severe pullback or an extended drop in any pricing, the turmoil will kill many businesses. They are holding this sucker game up for a while.... and then they move into the new world odor.

[Awoke]

How much longer till we see $40?

[MAGNES]

This is historical seasonal highs coming, strong forces,

gold is still on key line of R , 1425, no clear breakout, going sideways right on key resistance

this could easily pop, SI , who knows where it will land, looks strong,
we seen $10 -$15 on GC and SI moves a buck + ,

Gaillo had a dream, lol , SI 40 or 50, good luck trading this.

a wedge is developing right on Resistance, very interesting
http://stockcharts.com/c-sc/sc?s=$GOLD&p=D&yr=1&mn=0&dy=0&i=p42106480801&r=6799

[FunnyMoney]

... So I think we're looking at $28-$32 by July, and if there's a second wave down, perhaps $24-$28 this fall. ....




Is this going to be hat eating time? We had a few of those already.

A continued push over 40 in the near term, which I expect, and then a push to the 50 area prior to any retreat, which I also expect, is going to make $32 a very long pull. As for the 20s, I think you're dreaming.

This is exactly how a wall of worry takes hold. The train leaves the station and as it enters phase II in the three-wave super bull cycle, anyone thinking they'll get a ticket on the cheap now is left behind. This is the typical entry into a phase II, investors think things are going to behave they way they did in phase I, but instead they are misleading themselves. They wait for the severe pull back that is always short of their hopes to get more at a cheaper price. This is the bull run phase II. This is the wall of worry. Accumulation of ounces is the only thing you can rely on - all hopes at calling some technically induced massive pull back are like betting the horses without a program.

Every smart investor and their mom is now sitting on a few ounces and dreaming of getting more. A single dollar or so drop in price is all it takes now to have eye popping amounts of fiat money (in all honesty worth nothing) flee toward actual honest wealth. I would not count on a massive drop in price anytime soon. We could even be years away from the next big retreat in actual real money valuations.

[Awoke]

Pttf. Trinity has talked about eating his hat countless times, but it hasn't happened yet....

[Sparky]

Maybe I'll be eating my hat FM, but it's just my guess. I say the next peak is a lot closer to $40 than $50, and it happens this month. I'd be surprised if we didn't see $32 this summer. That's not really "cheap" considering it was $18 last summer. I know someday that will seem cheap, but not yet. We'll see.

[osoab]

39 is here.

1450 for Au has been breached too.

[Sparky]

39 is here.

1450 for Au has been breached too.


OK, let's see if this is big resistance, or the next breakout. I've already weighed.

Regardless, after struggling to break past the $20 barrier for multiple years, it really would be remarkable to bust through $20, $30, and $40 all within a 9-month period.

[osoab]

39 is here.

1450 for Au has been breached too.


OK, let's see if this is big resistance, or the next breakout. I've already weighed.

Regardless, after struggling to break past the $20 barrier for multiple years, it really would be remarkable to bust through $20, $30, and $40 all within a 9-month period.


I'll stick with baby steps and hope for a close above 39 and 1450. No sense in getting too excited yet.

FWI, Turd Ferguson is guessing that they will let in run to 40 and then hammer back to 36 area in short order.
http://tfmetalsreport.blogspot.com/

Today's action is after China hiked rates too. Bullish?

[Ponce]

As I see it..........I said before that when the people started to buy PM that would take the power away from the coat and ties to control the market.........but something else, the higher the price the more money that the coat and ties would have to put up to be able to control the market so that now you will only the the big money playing the game of "control".

[freespirit]

How much longer till we see $40?



not too long, my friend...currently $39.17, high today so far...$39.25

[old steel]

I am sure at some point that silver will correct but I do not know at what point that will be. Even if the spot silver price does correct, what will silver premiums do? No one really knows.



A few months ago I expected peak price to be in April. But silver shot up so fast in February into March that I though maybe that was it. But now that we've made it to April, and silver is at a new high, I would expect it to continue upward until gold hits a new high (above $1349), and then they will both have an exhaustion correction over the next 6-9 months.

Bottom line, I expect silver to flirt with $40 in April, then pull back for many months, with the most dramatic plunge coming right away. Most years the bottoms are in July, with a secondary hit in October. So I think we're looking at $28-$32 by July, and if there's a second wave down, perhaps $24-$28 this fall. That would be a tremendous opportunity.


Tremendous opportunity to buy but where are you going to find the physical and who would be willing to sell at those prices? I had a house full of young folks here just barely out of their teens when the last dip under $30.00 occurred making a 300 mile round trip to buy silver. Cleaned the largest dealer in the city right out.

People are waking up. At least around here they are.

[Sparky]

A new high tonight at $39.47, 12:30 AM EDT 4/6/11.

I'm going to go out on a limb and say that we will see the interim top price in the next 6 hours that will not be approached for the next 6 months, and that there will be a jolting decline later this morning or afternoon.

Just a hunch. If I'm wrong, FunnyMoney will be all over my back later today! :D

[Ponce]

Ponce<---------- putting on his safety belt because is going to be a hell of a ride.......the train is gaining speed.

[Sparky]

Ponce<---------- putting on his safety belt because is going to be a hell of a ride.......the train is gaining speed.


This buckin' bronco hasn't kicked in over two years, and it might be time to knock off some weak hands. Hold on tight!

[FunnyMoney]

A new high tonight at $39.47, 12:30 AM EDT 4/6/11.

I'm going to go out on a limb and say that we will see the interim top price in the next 6 hours that will not be approached for the next 6 months, and that there will be a jolting decline later this morning or afternoon.

Just a hunch. If I'm wrong, FunnyMoney will be all over my back later today! :D



Who needs to wait till later today.... Let me put it this way: we'll talk again at 50, and that will be soon.

[Serpo]

So who is going to drive it down,everyone knows what is going on now.

JPM have so many shorts they dont know what to do with and are facing total collapse when the price hits 60$

[Libertarian_Guard]

Allow me to play the role of Sammy Silver.

$38 was nifty! But $39 is fine!

;D

[Sparky]

So who is going to drive it down,everyone knows what is going on now.
...


Hedge funds and speculators that bought at $20, and will buy back again at $30.

[jason]

just finished wrapping up a 900 ouncer on the way to tulving tommorow @ .35 under

I've been training for this day for 5 years...

my original plan from 06 @ 12 silver when I bought was to sell 25% @ 49 on 4-4-11....I was off by a day(incredibly) and $9

25% on 12-12-13 @ $99.....25% at $199 no date....

pass 25% on...........

[Awoke]

just finished wrapping up a 900 ouncer on the way to tulving tommorow @ .35 under



I thought you said you didn't want us to think you are GoldBuyer123...

;D

[jason]

just finished wrapping up a 900 ouncer on the way to tulving tommorow @ .35 under



I thought you said you didn't want us to think you are GoldBuyer123...

;D

Ha ha honestly i'm not and although that post sounds like i'm bragging, I'm not, just a ray a sunshine in a sea of bleakness. "Sometimes you eat the bear, and sometimes the bear eats you". Today was a well savored victory. I realize I will likely look back and curse myself for partially selling at $40....But it is what it is. Got to stay discipled and true to myself

[Awoke]

I'm just kidding around. I brought it up becasue GB123 was always telling us that our metal are worthless and we needed to sell them right away.

Then he would start up threads talking about the BBq that he bought for 1 GAE or some bullshit like that. lolz

[jason]

An aquaintance makes a real good living betting sports, big money, and he basically "fades" the public....more specifically he finds a couple people who post on gambling forums that are ALWAYS wrong. It's an artform and the guy has taught me alot over the years. There are many parallels to that with this precious metals super cyle bull market. GB123 was one of those fades, I made a lot of $$ fading his calls and posted as much, it was a lot of fun. "MetalsKing (LOL) on the kitco forum is another fantastic fade. Of course Prechter as well. I would NOT fade Cramer, he is much sharper than most understand, also you can't fade the perma-bears like Nadler etc....anywhoo, I find the physcological aspect of it all fascinating

[Neuro]

The damn thing is that we still have a large potential upside. It could very well be up at 50 in short order, but we may very well be down to 30 also. If you have plenty of silver, it is probably not a bad idea to sell some now, and trade for gold (37 ratio), right now or a bit later, or for other preps. I do believe we will see a peak during April, and we will have a deep correction in the summer, possibly all the way down to low 20's, but I don't know whether the peak is now at 40 or higher in a couple of weeks...

[jason]

Realistically $50 is a brickwall and will take several stabs to break through which may play out over a year or so.

Hell $40 could turn out to be that wall for all I know. If i'm lucky, maybe i'm able to buy some back at a significant discount. If not than it's all good. Truly an incredible run.

[Libertarian_Guard]

Realistically $50 is a brickwall and will take several stabs to break through which may play out over a year or so.


Brickwall or " another brick in the wall?" A floydian slip perhaps?

Either way, $50 silver with that kind of backstop was based on a Jan 1980 USD - - not April 2011 USD!

[nunaem]

I predict it'll go to the mid-40s in the next few weeks, then pull back ~$10 over the following 2-3 months, then return to approach $50 when the expected food and fuel inflation arrives.

[Libertarian_Guard]

http://i56.tinypic.com/154x5i1.jpg

[jason]

Realistically $50 is a brickwall and will take several stabs to break through which may play out over a year or so.


Brickwall or " another brick in the wall?" A floydian slip perhaps?

Either way, $50 silver with that kind of backstop was based on a Jan 1980 USD - - not April 2011 USD!


Absolutely a freudain slip. It doesn't take a rocket scientist to figure it out.

Go long the physical while short the paper. Run the stock market and use your paper to buy up other companies with the assets in the ground. Suppress the price while you accumulate Americas wealth.

[Libertarian_Guard]

Realistically $50 is a brickwall and will take several stabs to break through which may play out over a year or so.


Brickwall or " another brick in the wall?" A floydian slip perhaps?

Either way, $50 silver with that kind of backstop was based on a Jan 1980 USD - - not April 2011 USD!


Absolutely a freudain slip. It doesn't take a rocket scientist to figure it out.

Go long the physical while short the paper. Run the stock market and use your paper to buy up other companies with the assets in the ground. Suppress the price while you accumulate Americas wealth.








http://i53.tinypic.com/fc1qm8.jpg

[Serpo]

http://news.silverseek.com/SilverSeek/1301924290.php

here is a chart of gold to give you an idea when silver is ready to correct

[MAGNES]

This is historical seasonal highs coming, strong forces,

gold is still on key line of R , 1425, no clear breakout, going sideways right on key resistance

this could easily pop, SI , who knows where it will land, looks strong,
we seen $10 -$15 on GC and SI moves a buck + ,

Gaillo had a dream, lol , SI 40 or 50, good luck trading this.

a wedge is developing right on Resistance, very interesting
http://stockcharts.com/c-sc/sc?s=$GOLD&p=D&yr=1&mn=0&dy=0&i=p42106480801&r=6799


Gold broke out clearly yesterday and stayed up overnight, very strong and positive,
looks likes it's going to make some clear new highs this April or May.
SI is almost sitting right on $40.
SI is going much higher, it's going to follow GC.

That chart updated itself, when I posted it GC was sitting right on 1425,
forming a clear wedge on a major resistance line.

[Trinity]

Pttf. Trinity has talked about eating his hat countless times, but it hasn't happened yet....


Just to review it.

1) First said back in 2008 that 16 bucks was concrete floor, we ended up going down to 9 bucks.
2) In 2009 I said if Silver trades below 16 bucks "I will eat my hat", it traded under 16 for maybe a week so I nibbled on some hat.
3) In 2010 I said 19.60 was the floor and we were heading higher and if you didn't believe me you were on your own.
4) Early this year I said 28 bucks was floor or "I would eat my members only jacket". I renegged on that one since it only dipped under it for maybe a week.
5)Recently I have threatened to eat my wifes oatmeal cookies, meatloaf special and pretty much anything else she cooks (instead of throwing it out) if Silver didn't continue to rally.
6)I have now threatened to eat a Fram oil filter if Silver does not reach 50 bucks an ounce this year.

[mick silver]

i just dont see silver droping alot . the cost of mining is high . then there less silver . plus the cost of just living has doulbe in the last ten years . then we have wars going on all over the world right now . i just dont see silver being cheaper . we caan all hope for the price to drop . i for one have some bucks to drop on silver if there was a good drop in price

[Serpo]

Pttf. Trinity has talked about eating his hat countless times, but it hasn't happened yet....


Just to review it.

1) First said back in 2008 that 16 bucks was concrete floor, we ended up going down to 9 bucks.
2) In 2009 I said if Silver trades below 16 bucks "I will eat my hat", it traded under 16 for maybe a week so I nibbled on some hat.
3) In 2010 I said 19.60 was the floor and we were heading higher and if you didn't believe me you were on your own.
4) Early this year I said 28 bucks was floor or "I would eat my members only jacket". I renegged on that one since it only dipped under it for maybe a week.
5)Recently I have threatened to eat my wifes oatmeal cookies, meatloaf special and pretty much anything else she cooks (instead of throwing it out) if Silver didn't continue to rally.
6)I have now threatened to eat a Fram oil filter if Silver does not reach 50 bucks an ounce this year.




Ever thought about eating one of those fuckshooome nuclear reactors

[1970 silver art]

Pttf. Trinity has talked about eating his hat countless times, but it hasn't happened yet....


Just to review it.

1) First said back in 2008 that 16 bucks was concrete floor, we ended up going down to 9 bucks.
2) In 2009 I said if Silver trades below 16 bucks "I will eat my hat", it traded under 16 for maybe a week so I nibbled on some hat.
3) In 2010 I said 19.60 was the floor and we were heading higher and if you didn't believe me you were on your own.
4) Early this year I said 28 bucks was floor or "I would eat my members only jacket". I renegged on that one since it only dipped under it for maybe a week.
5)Recently I have threatened to eat my wifes oatmeal cookies, meatloaf special and pretty much anything else she cooks (instead of throwing it out) if Silver didn't continue to rally.
6)I have now threatened to eat a Fram oil filter if Silver does not reach 50 bucks an ounce this year.



Hey Trinity, as I mentioned in another thread, I would pour a gallon of Tabasco sauce on that oil filter. It will make it go down easier and I think that it adds spice to it. At the rate that you are eating things, you will gain a lot of weight. You may have to threaten to run a marathon if silver does not reach $100 in 2012. ;D

[Awoke]

Would that be a new filter, or a used one?

With metals moving like this, I wouldn't be surprised if we saw $50 by the end of April.

[Trinity]

Would that be a new filter, or a used one?

With metals moving like this, I wouldn't be surprised if we saw $50 by the end of April.




New.