Silver up $1.83.......... : )

[Ponce]

Silver Art?........are my three rolls of tp ready to go? heheheheheheheheheheheh.

[Shami-Amourae]

Shhhhh! Don't jinx it!

[Ponce]

Crap........already did......down to $1.31..........sorry :boohoo

[gunDriller]

the "conventional wisdom" is that silver is more volatile because it is a much smaller market.

but - part of the reason it's a smaller market is because the price has been manipulated down for decades. as it has been for gold.

if the GSR fell to 8:1, then the 2 markets would be about (very roughly) equal. with silver production at 20,000 tons & gold production at 2400 tons.

they would have to come up with a new "conventional wisdom" because then the $ amount of the markets would be about the same.


in other words - as the silver market grows, and the GSR falls, it will cost JPMorgue more to maintain those short positions.

the image of a bucking bronco comes to mind. that's JPMorgue on top.

http://photography.nationalgeographic.com/staticfiles/NGS/Shared/StaticFiles/Photography/Images/POD/b/bucking-bronco-523937-sw.jpg

JP Morgue really has things under control !

[Serpo]

ONLY CHANGE WITH SILVER IS PRICE

The silver speculation is just another deceptive story. The Open Interest fell gradually all through the Silver price rise toward the $50 level. After such a bone crushing silver ambush, the net positions for non-commercials, substracting shorts from longs, showed relative tranquility with no big decline at all in their positions, thus still a bullish commitment. They have fewer positions, but the game is still very much on. Hedge funds do show the lowest net long silver position since February 2010, but still a solid position. Evidence lies inside the Commitment of Traders Report, discussed in more detail in the May Hat Trick Letter. The Managed Money (like hedge funds, commodity trading accounts) still have a strong bullish position. They profited from the rise as they reduced positions, and were not wounded by the rise!! Then take the little guys. The Small Trader ledger item recorded the largest pure short position since August, with 18,605 contracts short silver on 26 April 2011, when silver had a $45.45 price. The smaller players were actually net short, and collected a hefty profit, a story not told by the lapdog US press. Conclude that many of the small guys, the good guys, were correctly positioned for the harsh smackdown on silver in the first week of May. The small speculators profited from decline!! They and the fund managers will be back, bigger than before, bolder than ever, motivated with fervor, with their ears taped back ready for more blood. It seems abundantly clear that the major driving force behind this current silver market has been actual demand for physical silver metal.





The beauty of the silver decline is that when it reverses, there is no technical resistance of significance back to the $50 level. However, due to the shock effect, the climb will be slower than a sudden technical mirror image reversal. The precious metals investors should hope for a slow steady relentless painful nasty stubborn awesome devastating rise in price that doles out excruciating pain to the cartel, permits once again for the less enlightened doubters to cover their wrong short positions in a chronic manner. The story in the Silver chart has four weeks and four different stories. The first week of May had the powerful decline, the result of hitting the Hunt nominal target, Soros putting out his deceptive story of selling that which he called a bubble for a full year, the COMEX raising the margin requirement five times in quick succession, the USFed putting out its deceptive story about ending debt monetization and maybe hiking rates (gotta be dumb as a post to believe), the USEconomy demanding less in commodities. The second week showed a strong clear Doji Star, which epitomizes a move to stability. The Silver price found its footing and stood still, encouraging many investors to re-enter the market. The third week was less clear except to technical chart readers. It featured a strong clear Bull Hammer identified by an open and close at the high for the week, with price movement lower during the week. The hint was given on Monday of this week for a rebound. The US$ DX index was rising a little, as the Euro currency was sliding lower, like over 100 basis points for the day. Gold & Silver ignored it. Gold rose a little, while Silver was even at $35. Today, Silver is pushing $38 per ounce, and Gold is rising too. No resistance ahead!!



Yet the Mississippi flood waters will crimp supply lines just when the US financial dons wish to push down the entire commodity price structure, including Gold & Silver. Neither precious metal is a commodity though, since they are money. Tell the central banks of the world and the major sovereign wealth funds that Gold & Silver are commodities when they are shifting reserve assets away from the US$-based bonds and toward Gold & Silver. They are money, and the USGovt with their Wall Street handlers wishes the world not to regard them as money. The experiment in paper fiat money since 1971 is coming to an end, a conclusion racked with toxic spew, great hardship, and threats to wealth.



One should constantly remember that no solution to the financial crisis has been installed, nothing fixed, no big banks liquidated, no end to monetary inflation, no end to outsized USGovt deficits, no end to secretive subterranean support of stocks and bonds, no revival of the housing market, no discharge of big bank home inventory, no return of US industry from Asia, no interruption to the endless costly wars, no end to money laundering of narco funds to Wall Street banks, no end to the propaganda obediently pumped out by the US press & media networks, and no change of Goldman Sachs running the USGovt finance ministry. Expect no change in anything that you believe in. Expect no change to the 0% policy (ZIRP) with no change to the heavy monetary inflation (QE), as the path to ruin is set, and the policy of Inflate to Infinity cannot be stopped. Gold will not stop until it surpasses at least $5000 to $7000 in price. Silver will not stop until it surpasses at least $150 to $200 in price. Such forecasts invite mockery, but in two years they will seem prescient.



The ruin of money is the momentum play. The elite are fully invested in the current system, and are fully willing to put more money into reinforcements to preserve their wealth, power, and position. The global financial system is coming apart at the seams, and the financial guardians in charge from the syndicate cannot any longer hold it together. The Gold & Silver prices are the hint of lost control. Expect breathtaking grand upward moves in price in the next several months. It will be fun to watch the dim bulbs explain their positions after their wrong viewpoints have been so well covered by the financial rags. They will surely squirm, guys like Soros. Some will gloat, guys like Sprott. Few are aware, but the events in the first week of May are what a COMEX default looks like, in its preliminary phase!!! JPMorgan could not meet the schedule of May silver deliveries, that simple. In time, the distance between paper Gold & Silver and physical Gold & Silver will be great. Then the COMEX shuts down, unless they act as a Cash & Carry exchange. Doubtful!

http://news.goldseek.com/GoldenJackass/1306353600.php

[gunDriller]

The ruin of money is the momentum play.


i like that quote.

what is the difference between support and a downtick ?

yes silver traded at $34 for a while. but it also downticked to $33 (a little below actually) for a few hours.

so i guess "support" is when it sits at a price for a while, and if the price falls to $1 less, that's just JPMorgue doing their thing ?


i think the bigger numbers ($5000 to $7000 for gold, $200 something for silver) are realistic, but i would like to hear their analysis - that is, how they came up with that number.

in some interviews with Eric King, Jim Rickards does the calculations where he matches money supply to alleged gold holdings, and he comes up with similar numbers.


i think the Talmud-worshippers will want volatility in the market because as insiders they can profit from the 5% price swings.

[madfranks]

Ponce? Let's wait until we're above $45 again before we start taunting Mr. Silver Art. ;D

[Ponce]

Darn it Franks.......I read it as $48.00.........crap, am I getting old or what? >:(

[Serpo]

Darn it Franks.......I read it as $48.00.........crap, am I getting old or what? >:(
:ROFL: :sun: