We are on the verge of $5 up days for silver

[Uncle Salty]

Silver is a runaway train.

The manufacturers must be starting to panic. They need to make sure they can keep their production lines running. The real fun is about to begin.

[midnight rambler]

GSR currently <32:1 - at the rate we're going we could see 16:1 (or less) within 30-60 days.

[Son-of-Liberty]

If this thing goes ballistic how do you know when to trade into something else? Do we wait until there is a frenzy and everyone wants silver? Dollar cost out? How much longer do we have of upside if the price is moving so fast?

[mrnhtbr2232]

APMEX is an interesting barometer - a week ago I bought some 1oz Indian rounds and now they are sold out. If you look at the availability dates and numbers most of their 1oz bars and rounds are back-ordered. I ended up going with a couple 5's just now because they were available. In the time I was placing the order I watched Silver move up and down fifty cents. I agree - throw away the book this is it.

[Mister_Pennyweather]

It is up 49.70...

[zap]

If it goes to 50.00 would somebody get a screenshot of it to show Silver Art, I would be have no idea how to.
Thankyou

[Ponce]

Soon many will panic and sell and that will serve the buyers for a little while.......many of those holding silver think that fifty will be the top price as in 1980 and will get out to soon.

$49.36.......is bound to go down a little tomorrow.

[SilverMagnet]

If this thing goes ballistic how do you know when to trade into something else? Do we wait until there is a frenzy and everyone wants silver? Dollar cost out? How much longer do we have of upside if the price is moving so fast?


Here is a hint...

Don't sell for under $500. By then you will already know what to convert it to.

[Ponce]

Silver Magnet......at $500.00 I don't think that it would do anyone any good, just a feeling.....but I'll still be around making a bet with Silver Art that it will reach $1000,00 hahahahahahahaha.......but for 5 roll of tp, 3 rolls is a low bet :oo-->

[SilverMagnet]

Ponce, you are gonna have so much toilet paper that you can build a house with it. Silver Art will be trusting his gut feeling all the way down to the supermarket when he picks up your 3 rolls and I will be trusting my gut feeling all the way to $500 and beyond. We ain't seen nothin yet my friend.

[Ponce]

Why hell, he will be coming to me to buy the tp from me to mail it back to me hahahahahahah.

[Uncle Salty]

If this thing goes ballistic how do you know when to trade into something else? Do we wait until there is a frenzy and everyone wants silver? Dollar cost out? How much longer do we have of upside if the price is moving so fast?


Here is a hint...

Don't sell for under $500. By then you will already know what to convert it to.


At $500 I start to move some of it into gold.

[Uncle Salty]

Touch my balls. We are halfway there tonight so far.

[Neuro]

Why hell, he will be coming to me to buy the tp from me to mail it back to me hahahahahahah.
A Ponce scheme? A round for a roll? ;D

[Serpo]

Soon many will panic and sell and that will serve the buyers for a little while.......many of those holding silver think that fifty will be the top price as in 1980 and will get out to soon.

$49.36.......is bound to go down a little tomorrow.


50$ is the base even though it hasnt made it there yet.

[gunDriller]

If it goes to 50.00 would somebody get a screenshot of it to show Silver Art, I would be have no idea how to.
Thankyou


since Silver Art has a humongous stash of silver art bars, i don't think he'll be too upset.

[Neuro]

I think we are on the verge of $5 down days actually. Today so far a bit more than $2 down from the high. I wouldn't be surprised if it goes down another $2...

[BrewTech]

Smackdown in progress, or so it appears...

losing 0.50 every couple of minutes...

[Neuro]

3 Bucks down

[SLV^GLD]

Silver Art is feeling vindicated.

[Large Sarge]

even a correction at this stage would be healthy

but its all in the dollar

and there really is very little silver left

the fundamentals have not changed at all.

a new mine, under ideal conditions, takes 5-8 years to bring online.... (meaning more supply)

[Sparky]

I think we are on the verge of $5 down days actually. Today so far a bit more than $2 down from the high. I wouldn't be surprised if it goes down another $2...


I'm with you. I think we'll see an intraday drop of $7 before June.

Still bullish, with a minimum target of $75. But, c'mon.

[solid]

A Ponce scheme? A round for a roll? ;D


;D Maybe we should start calling Ponce...Ponci. The Ponci TP scheme, pretty soon he may start packaging up TP into derivatives.

[Santa]

Could this be the beginning of the spring take down? $45.86 and dropping?

[1970 silver art]

Why hell, he will be coming to me to buy the tp from me to mail it back to me hahahahahahah.


Ponce? You might want to check Kitco about now. The smackdown is just beginning. ;D

[chad]

it's the 10 am cartel. wait until about...oh, 1:30 or so. ;D

[1970 silver art]

it's the 10 am cartel. wait until about...oh, 1:30 or so. ;D


Cool!!!! Thanks for reminding me. ;D That means more smack down action to come. ;D Maybe after 1:30, JPMorgan will probably smack it down to $45 (or lower).

[chad]

i was going to write something like this, but someone on zero hedge beat me to it:

Total manipulation. Think about it: all the PD's and trading desks went on vacation Friday. What happens? No manipulation in the silver markets....so silver skies.

Sunday night: ditto.

Monday, Primary Dealers come back to tradings desks and poof: silver gets slammed and margin hikes on desperation phone calls from Blythe and Jamie.

This is so fucking corrupt that it is laughable now. These scumbags are fighting for the Ponzi tooth and nail...

All as can be expected.

[Sparky]

I heard a discussion of silver on a mainstream morning radio talk show this morning. Guy says that he wished he bought more silver, but at $49/ounce he no longer can afford to.

Joe6Pack is starting to discuss it.

[Neuro]

I think we are on the verge of $5 down days actually. Today so far a bit more than $2 down from the high. I wouldn't be surprised if it goes down another $2...


I'm with you. I think we'll see an intraday drop of $7 before June.

Still bullish, with a minimum target of $75. But, c'mon.
Yes, I am long term bullish. I do think that we will see up to about $500 Silver, in a couple of years. This would represent the true inflation adjusted price of Silver from it's January 1980 price. Short term though I am bearish, and I still think a summer low between $21-26 is likely. It is only a year ago and $22 appeared almost unreachable. However, if Silver, will make a magnificent comeback, within a few days, and convincingly pass $50, it could very well reach $100 in short order, but I think this is highly unlikely... Seasonal weakness, a probable fed austerity announcement the next few days, and an incredible 9 month rally in silver, speaks against it...

[Sparky]

Not sure where you get an inflation-adjusted number of $500. I get $150 using the previous $50 top, or $100 using the more stable $35 price. Even if you project high inflation for a several years forward, it only gets you to $200.

I think if silver peaks at $100, it will have a lot more buying power than if it peaks at $500, because in the $500 scenario, your tangibles become priceless.

[1970 silver art]

Silver Art is feeling vindicated.


I will admit that I feel good about today. :) The silver smack down that I was expecting did start today and I think that it will continue until silver hits the lows that were hit earlier this year.

[Ponce]

Like I said before........I expect a down day that could go as far as $10.00, nothing new to see here, keep on walking.......in two days, or less, it wil start going up once again.

[Neuro]

Not sure where you get an inflation-adjusted number of $500. I get $150 using the previous $50 top, or $100 using the more stable $35 price. Even if you project high inflation for a several years forward, it only gets you to $200.

I think if silver peaks at $100, it will have a lot more buying power than if it peaks at $500, because in the $500 scenario, your tangibles become priceless.
Yes but you use the official inflation rate, it has consistently underestimated the true inflation rate, by 3-5%/year. I think I saw it on shadowstat, that the real price inflation in the US, since 1980, has been about 800%, add about 20% inflation the next 2 years (8-10%/year), this will mean a reasonable inflation adjusted target for silver in 2 years of about $500...

[Celtic Rogue]

For me... I could care less about the day to day fluctuations... its the trend that I care about. LOL A smack down to $35? $35 isnt a smack down... its a good price. Two years ago if you saw $35 silver you would freak! But now its just a blip in the rear view mirror. Up up and away... the fundamentals of the market dont apply anymore... there are too many people messing with the system.

[Sparky]

I think we all agree that a big smackdown would only be temporary. And yet it will still cause some angst here when it happens. That's why we should be preparing for it mentally, which is what you're doing in your post.

[freespirit]

I was expecting to see $50 by the end of the week, but that smackdown was pretty aggressive.

Awoke.

[osoab]

I was expecting to see $50 by the end of the week, but that smackdown was pretty aggressive.

Awoke.


Dude, what happened to your account?

[solid]

I was expecting to see $50 by the end of the week, but that smackdown was pretty aggressive.

Awoke.


Dude, what happened to your account?


Sleep mode? :dunno Maybe he just needs to wake it back up. ;D

[osoab]

I was expecting to see $50 by the end of the week, but that smackdown was pretty aggressive.

Awoke.


Dude, what happened to your account?


Sleep mode? :dunno Maybe he just needs to wake it back up. ;D


:ROFL:

[freespirit]

I was expecting to see $50 by the end of the week, but that smackdown was pretty aggressive.

Awoke.


Dude, what happened to your account?


Sleep mode? :dunno Maybe he just needs to wake it back up. ;D



...sorry for the confusion, guys...lol...awoke was at my place earlier today for a visit and i was already logged in so he just used my account to post...
;D

[1970 silver art]

I think we are on the verge of $5 down days actually. Today so far a bit more than $2 down from the high. I wouldn't be surprised if it goes down another $2...


I'm with you. I think we'll see an intraday drop of $7 before June.

Still bullish, with a minimum target of $75. But, c'mon.
Yes, I am long term bullish. I do think that we will see up to about $500 Silver, in a couple of years. This would represent the true inflation adjusted price of Silver from it's January 1980 price. Short term though I am bearish, and I still think a summer low between $21-26 is likely. It is only a year ago and $22 appeared almost unreachable. However, if Silver, will make a magnificent comeback, within a few days, and convincingly pass $50, it could very well reach $100 in short order, but I think this is highly unlikely... Seasonal weakness, a probable fed austerity announcement the next few days, and an incredible 9 month rally in silver, speaks against it...


Neuro,

That is exactly how I feel at this point with silver. I am short term bearish on silver (2011 only) but I am long term bullish on silver (2012 and beyond). My reason for the short term bearish posts is that it ran too far too fast and it is ripe for a big smack down. $49.85 is the high that we will see for 2011. It will not get any higher than that this year. I still think that silver will hit the lows ($26?) that we saw earlier this year.

[Ponce]

In your dreams buddy boy.

[Trinity]

$49.85 is the high that we will see for 2011. It will not get any higher than that this year. I still think that silver will hit the lows ($26?) that we saw earlier this year.

We shall pass 50 in a fortnight my good man.

[mick silver]

i like the way ponce thinks ... i will say this one time i have 40 t bucks on the side right now if silver drop to 40 i will spent every penny on silver rounds

[osoab]

I was expecting to see $50 by the end of the week, but that smackdown was pretty aggressive.

Awoke.


Dude, what happened to your account?


Sleep mode? :dunno Maybe he just needs to wake it back up. ;D



...sorry for the confusion, guys...lol...awoke was at my place earlier today for a visit and i was already logged in so he just used my account to post...
;D



Sock puppet.

http://calitreview.com/wp-content/uploads/2010/06/invasion-of-the-body-snatchers-78.jpg

:ROFL: :taunt:

[freespirit]

I was expecting to see $50 by the end of the week, but that smackdown was pretty aggressive.

Awoke.


Dude, what happened to your account?


Sleep mode? :dunno Maybe he just needs to wake it back up. ;D



...sorry for the confusion, guys...lol...awoke was at my place earlier today for a visit and i was already logged in so he just used my account to post...
;D



Sock puppet.

http://calitreview.com/wp-content/uploads/2010/06/invasion-of-the-body-snatchers-78.jpg

:ROFL: :taunt:


LMAO!!

now, THAT'S funny!
:ROFL: :lol :fish

[Neuro]

Hmmm it was down to $ 44.62, within 24 hours of hitting $49.85... :oo--> :o :oo-->

[Son-of-Liberty]

I wouldn't be surprised with a correction to 35 although I still think it is unlikely. If we did get down there I would be backing up the truck for sure.

[BrewTech]

Hmmm it was down to $ 44.62, within 24 hours of hitting $49.85... :oo--> :o :oo-->


2008 called, it wants its metals market back.

:o

Looks like the bankers had a little something up their sleeves after all. I predict the prices of silver will be in the mid 30's by the end of the week.

[PatColo]

Hmmm it was down to $ 44.62, within 24 hours of hitting $49.85... :oo--> :o :oo-->


Just shy of a 9% correction peak to (so far) trough. The silver bull still rages until, well, until I say otherwise. 8)

Turk's babbling (http://gold-silver.us/forum/general-discussion/james-turk-silver-still-in-backwardation-headed-higher/msg218866/#msg218866) about backwardation keeping a floor under us.

from Harvey Organ 4/25 closing commentary (http://harveyorgan.blogspot.com/):


Monday, April 25, 2011
Volatility GALORE at the comex in silver
Good evening Ladies and Gentlemen:

Gold closed today at the gold comex at $1508.80 for a gain of $5.60 Gold was quite steady today as the volume compared to silver was extremely light. Silver on the other hand was on fire. Throughout the night, it roared to within spitting distance of $50.00 only to be rocked by massive volume orchestrated by the bankers. It closed at $47.27 up $1.21 from Thursday night closing. Also remember that tomorrow is the last day for options expiry which will explain today's volatility.

We have most of the data for today and Thursday so without further ado let us go to the comex and see how trading fared.

First gold:

The total gold comex OI fell by 6264 contracts to 531,503 from Thursday's level of 537,767. Strangely the OI for the front delivery month of April remains steadfast at 600, the same level on Thursday despite one delivery. Thus we did not lose any gold to cash settlements and we gained some gold standing.
The next front month in gold is the biggy month of June. Today we saw the OI fall a bit from 360,139 to 354,322. The month of June took the lion's share of the total OI contraction in gold. The estimated volume today at the comex came in at 116,446 and the confirmed volume on Thursday was rather good at 141,956.

And now for silver:

The total OI on Thursday night was 144,301 and today it was reported that the OI rose quite dramatically to 149,899 for a gain of 5598 contracts. That is absolutely humongous as the JPMorgue dug their heels and heroically supplied the massive non backed paper with reckless abandon. The front options expiry month of April saw its OI rise from 51 to 66 for a gain of 15 contracts. We had only 2 deliveries on Thursday so we lost no ounces to cash settlements and we gained quite a few ounces standing for delivery.
We are now heading for first day notice which is on Friday April 29.2011. Tomorrow is the last day for options where all holders that stand will receive a futures contract in silver. In gold they also receive a futures contract but because May is not a delivery month, the investors that stand always seek physical metal. I will report on this extensively throughout May. The front month of May saw its OI fall marginally from 46,863 to 43,170. The bankers were expecting a much larger roll to the next delivery month of July.

The next data was unbelievable: the estimated volume at the silver comex today was 279,844. No doubt we had some switches but that volume was unbelievable. I do not have the confirmed volume for Thursday.
If you recall the estimated volume was 163,464. If anybody out there got it please let me know and I will include it in today's report.


Here is the chart for 4/25/2011 regarding deliveries and inventory changes at the comex.

more: http://harveyorgan.blogspot.com

[Son-of-Liberty]

Heard Bob Chapman saying something about how JP Morgan would be in serious trouble if silver was around $50 when the contracts come up for expiry and that the feds might have to bail them out. This take down could be their final effort to take the price down before then.

[Neuro]

Hmmm it was down to $ 44.62, within 24 hours of hitting $49.85... :oo--> :o :oo-->


2008 called, it wants its metals market back.

:o

Looks like the bankers had a little something up their sleeves after all. I predict the prices of silver will be in the mid 30's by the end of the week.
Well I will not mind another round of happy hour silver, with all the cash I got selling silver the last few weeks. I suspect we won't get any more low low price silver after this summer...

[chad]

Heard Bob Chapman saying something about how JP Morgan would be in serious trouble if silver was around $50 when the contracts come up for expiry and that the feds might have to bail them out. This take down could be their final effort to take the price down before then.


i would suspect this is correct.

[Santa]

The thing is , if they're able to (temporarily)crash the paper POS,

the lower it goes, the harder it'll become to buy ANY real physical.

I seriously doubt there will be any backing up the truck this summer without extreme luck.

You may not be able to buy it even at current prices, including premiums.

In other words, don't play the market with real silver. Hold it!

[Neuro]

Heard Bob Chapman saying something about how JP Morgan would be in serious trouble if silver was around $50 when the contracts come up for expiry and that the feds might have to bail them out. This take down could be their final effort to take the price down before then.


i would suspect this is correct.
They are one of the owners of the FED. We'll see tomorrow... I Think we'll see sub 40 silver...

[Uncle Salty]

I love the smell of napalm in the morning.

JPM can paper napalm the silver all they want but at the end of the day, Charlie wins the war.

[sirgonzo420]

I love the smell of napalm in the morning.

JPM can paper napalm the silver all they want but at the end of the day, Charlie wins the war.



http://prosportpsychsym.files.wordpress.com/2011/03/winning-sheen.jpg

[Trinity]

They are one of the owners of the FED. We'll see tomorrow... I Think we'll see sub 40 silver...
[/quote]

We are on the opposite side of the trade Neuro. I think the fed speak tomorrow will be metals positive.

[osoab]

I love the smell of napalm in the morning.

JPM can paper napalm the silver all they want but at the end of the day, Charlie wins the war.



http://prosportpsychsym.files.wordpress.com/2011/03/winning-sheen.jpg

:ROFL: :ROFL: :ROFL:

[Neuro]

They are one of the owners of the FED. We'll see tomorrow... I Think we'll see sub 40 silver...


We are on the opposite side of the trade Neuro. I think the fed speak tomorrow will be metals positive.
[/quote]I think the FED will assert it's authority over congress. I could be wrong though, no matter what we should see a good pre-announcement smack down... Or will they smack it up if it is a metal negative announcement?

[Ponce]

No "sub-forty" but plenty low.......like in tramplin, you bounced down to go higher.

[mick silver]

i know one thing i got a roll of silver dimes for 5 bucks .... what a great day to own silver

[Trinity]

We are on the opposite side of the trade Neuro. I think the fed speak tomorrow will be metals positive.
[/quote]

I nailed it again!