I'd just like to say it's nice to see silver holding past $33.

[Awoke]

It seemed to be stuck in the $33 to $34 zone for quite some time. Nice to see it at $36.

[chad]

wait untill the bernake talks tomorrow. that coupled with greece 'defaulting' today - $40.

[Awoke]

Ohhhhh, me likey.

[Neuro]

wait untill the bernake talks tomorrow. that coupled with greece 'defaulting' today - $40.I really don't mind! REALLY!

[Steal]

not one to chase a market...but I did buy a silver eagle or 2 for $36.70 this morning. Just saw a high print at $37. wow.

[Twisted Titan]

*** Yawn****

Dollar cost average investors are not impressed

[Celtic Rogue]

http://ts1.mm.bing.net/images/thumbnail.aspx?q=1624389258568&id=6f9754d709656b7cff7fe8294e94d222

Well if it wishin we be doin! 8-) The wee dog will have its day lads and lasses!

[EE_]

With the economy in full recovery mode now, industrial demand for silver should take silver much higher.
Go silver!

[Silver Rocket Bitches!]

Go back to $28, I'm still buying! These metal manipulators are doing a terrible job driving down the price of silver. I'm takin over.

2320http://gold-silver.us/forum/images/misc/pencil.png

[DMac]

37 and change right now with Au scratching at 1800 once again.

[Gaillo]

When Greece is widely seen as being in default, and when the other Euro-welfare countries start to obviously follow, there will be a flight of capital from the Euro to the Dollar. I'm betting that will give is all one more buying opportunity before the launch "to da moon".

Of course, I could be wrong... I often am! :(

[gunDriller]

GSR @ 48.

for those who were thinking about trading silver for gold, a few more weeks like this and the ratio will be back in the 30's.

[Spectrism]

When Greece is widely seen as being in default, and when the other Euro-welfare countries start to obviously follow, there will be a flight of capital from the Euro to the Dollar. I'm betting that will give is all one more buying opportunity before the launch "to da moon".

Of course, I could be wrong... I often am! :(

Warning: don't use logic. The problem with this is that the manipulators at the federal reserve (ESF-Exchange Stabilization Fund), are buying Euros with dollars to keep them from crashing. This means that the dollar will crash in value along with the Euro. The bastards are thieving any wealth they can.

[Serpo]

Sounds as though silver is on a tear for the next couple of months..................plus 50$


http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/2/28_Fitzwilson_-_Bull_Market_Dynamics_Explosive_for_Gold_%26_Silve r.html

[Bigjon]

Well I can take credit for killing the run in both gold and silver had some options in each and I put in a limit order to sell... didn't happen, nuff said.

[gunDriller]

Sounds as though silver is on a tear for the next couple of months..................plus 50$


http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/2/28_Fitzwilson_-_Bull_Market_Dynamics_Explosive_for_Gold_%26_Silve r.html

"Then, when people start to get educated and understand that money is rapidly losing its value, you will get something like we saw in the 70s where people wanted out of paper money. We are still very, very early in this cycle but these are the types of things KWN readers globally should expect.


The other thing was the people who had goods during that period, they figured it out and suddenly the stores didn’t have any inventory and stores were closed. There was even a scramble to get gasoline and people didn’t think it was available.


I remember there was one fellow that picked up the phone and called into Texas and asked, ‘Do you have any gasoline available?’ They said, ‘Sure how much gas do you want?’ This man made over $1 million buying gasoline out of Texas and shipping it. The bottom line is all of this type of stuff will contribute to a big spike in the velocity of money at some point.


What’s different about the 70s versus now is that the baby boomers are at the opposite end of this where they are disposing of assets. My guess is that we will see this panic out of paper will first start overseas and then it will move to the US. But eventually everyone is going to look at the cash in their pocket or in the bank and this money is rapidly eroding and I have to do something with it.


You hear people saying that using gold and silver as money is crazy, but the truth is that for pretty much all of human history, except for 40 years, gold and silver have been money.


I remember distinctly when I had any awareness of money at all that my allowance was paid in silver coins. You would save it and put it in the bank and the paper money you would save in was backed by gold. So the only money I knew until I was literally graduating high school and even for a time beyond that was gold and silver as money.


There are well over 100 million people in the United States who remember gold and silver as money. It’s the mainstream media and the establishment that tries to tell you the concept is ridiculous.


So mainstream media and the establishment say having silver and gold as currency is crazy. But it’s crazy not to acknowledge that was the money system not too long ago. Mr. Hugo Salinas Price, out of Mexico, has proposed we go back on a system of silver coinage. His suggestion, and I think it’s a brilliant idea, is that even junk silver coins be remonetized. It hasn’t happened yet, but I think the logic behind it is outstanding.”

[MAGNES]

It seemed to be stuck in the $33 to $34 zone for quite some time. Nice to see it at $36.

Today is a key day.

SI just broke the 200 conclusively, and came off an inverse
shoulder pattern, 34 was key support just short of the 200,
today was day 3 on 200 SMA and we got this pop, lots of buy stops
being hit. GC is in nomans land right here, that is what to follow, it did
not do much today the way SI stands out. SI will follow GC.

GC looks like it will pop like SI, look at the chart, 1800, SI will follow.

I predict GC will reach previous high plus or minis 20 to 40,
SI will suck in longs to burn, they will drop GC. These are
dangerous trades if you are planning to trade this, especially SI.
Watching closely at that level my opinion may change.

It's a very strong +ve chart.

http://stockcharts.com/h-sc/ui?s=$SILVER&p=D&yr=1&mn=0&dy=0&id=p42106480801 (http://stockcharts.com/h-sc/ui?s=$SILVER&p=D&yr=1&mn=0&dy=0&id=p42106480801)

http://i43.tinypic.com/2qmmeea.png

http://stockcharts.com/h-sc/ui?s=$GOLD&p=D&yr=1&mn=0&dy=0&id=p42106480801 (http://stockcharts.com/h-sc/ui?s=$GOLD&p=D&yr=1&mn=0&dy=0&id=p42106480801)

http://i39.tinypic.com/10clwme.png


Some of my analysis.

One year high.

Capping Silver, Massive Volume Price Drops (http://gold-silver.us/forum/showthread.php?48305-Capping-Silver-Massive-Volume-Price-Drops)

One year low.

Gold Break Down on Pennant Formed Dec 28 2011 (http://gold-silver.us/forum/showthread.php?57397-Gold-Break-Down-on-Pennant-Formed-Dec-28-2011)

[Shami-Amourae]

The chickens are back:

http://www.youtube.com/watch?v=fhWgfBWgipM

[Grog]

I was liking this today too. I've become more and more of a fan of P&F charts, and the P&F charts are indicating a high 40s price target.

Good news! :D :D :D

[Korbin Dallas]

My 16 year old son made his first PM purchase a few weeks ago, silver at 33, he's estatic!

[LuckyStrike]

It's a weird thing, when silver goes way down I always buy more, I know the fundamentals and am steadfast, but everyone looks at you (in personal life) like "are you sure you know what you're doing, silver was just at 50 like last week". When silver goes up I honestly hardly ever buy since I can count on the CME to bring it down, probably not the best strategy but whatever, it has worked so far. So I'm stuck in a weird place, when it goes up I'm happy that I don't have to reassure people I have talked to about PM's, but sad that these FRN's don't go as far.

Hard to please I guess :p

[Serpo]

http://goldprice.org/charts/gold_3d_b_silver.png?0.9252878360475327

[Awoke]

Magnes, that post may as well have been in another language! lol. I don't know about any of that stuff.

NordicBerzerker, Those are the same principals I buy under too. I buy physical on dips, with the intent to sell someday on a high, but I can't bring myself to sell in real life...

GunDriller, is that quote from Eric King, or one of his guests?

[gunDriller]

GunDriller, is that quote from Eric King, or one of his guests?

"With gold and silver surging higher, today King World News interviewed 40 year veteran, Robert Fitzwilson. Fitzwilson is founder of The Portola Group, one of the premier boutique firms in the Unites States. He told King World News the silver shorts are being completely overrun. Fitzwilson also said silver was one of the most undervalued assets in the world. He also discussed gold, panic in velocity of money and much more."

[Awoke]

Thanks. Wanted to be accurate becuase it's my new sig.

[Goatman]

GSR @ 48.

for those who were thinking about trading silver for gold, a few more weeks like this and the ratio will be back in the 30's.

I certainly hope so. I did quite well last April doing a large trade at 34 to 1. Had I waited two more days I would have done even better but better to be two days early than a day too late I guess.

[gunDriller]

I certainly hope so. I did quite well last April doing a large trade at 34 to 1. Had I waited two more days I would have done even better but better to be two days early than a day too late I guess.

i think a good working practice is, a long-term GSR of 30:1 is very conservative.

so if you can buy 24 ounces of silver for $1000, you're buying something that can be traded for .8 ounces of gold (all-right, except for the buy-sell spread ... close anyway.)

which is sort of like getting gold for $1250 an ounce. which is a good deal.


one assumption though - that you can hold the silver long term to make the trade. if you run short on cash and need to sell PM's to pay the bills, it blows these clever schemes out of the water.

[Steal]

Flash Crash!

[Goatman]

Down $1.33 in less than 5 minutes.

[slvrbugjim]

The shorts just got pulled up, Goldman must be happy

[osoab]

What happened to the bucky?

http://finviz.com/fut_chart.ashx?t=DX&cot=098662&p=m5

[Neuro]

"With gold and silver surging higher, today King World News interviewed 40 year veteran, Robert Fitzwilson. Fitzwilson is founder of The Portola Group, one of the premier boutique firms in the Unites States. He told King World News the silver shorts are being completely overrun. Fitzwilson also said silver was one of the most undervalued assets in the world. He also discussed gold, panic in velocity of money and much more."
Silver shorts completely overrun! ;D hehehe...

[LastResort]

Very clever Awoke. You wanted to buy some more silver but wanted to get it a bit cheaper so you started this thread...;)

[Bigjon]

Silver shorts completely overrun! ;D hehehe...

Ya, a guy could go broke listening to King World News. Yesterday I was afraid of selling and missing the BIG move up, so I sold today in a panic. Turned a potential 7000 gain into a 2500 gain, not to mention I rejected the idea of buy some downside insurance.

[Awoke]

Works every time, Last Resort...

;D

[Awoke]

Ya, a guy could go broke listening to King World News. Yesterday I was afraid of selling and missing the BIG move up, so I sold today in a panic. Turned a potential 7000 gain into a 2500 gain, not to mention I rejected the idea of buy some downside insurance.

I was a big supporter and listener of KWN for a while, but I found a lot of his guests were forcasting the same things over and over and over, and a lot of times they would put a time limit on it, and none of it happened.

I am thankful to KWN for his coverage of the whistle blowers (Adrian Douglas and Andrew MacGuire (http://gold-silver.us/forum/showthread.php?22769-Whistleblower-Maguire-audio-at-kingworldnews)) and the attempts on their lives, etc, but I find a lot of the talk to be alarmist, between promoting minors/miners. (Not sure of the spelling in that context - feel free to educate me on it)

[zap]

I get sick of the swings. Down 1.79 and down 58.00 , I think I will stop checking the prices, it just makes me mad.

[Silver Rocket Bitches!]

I get sick of the swings. Down 1.79 and down 58.00 , I think I will stop checking the prices, it just makes me mad.

Who cares about the nominal price? Buy buy buy!

[Awoke]

Yeah, to be honest, I won't get too excited till it's either priced in the teens or in the forties.

EDIT - I remember when I got into PMs and GIM, I was watching that kitco ticker like a hawk. At the time a had a small amount of $ invested n a Kitco Pool account, and I was selling/buying at opportunity, and increased the initial investment by something like 38% in one year.

But after I cashed out and went 100% physical, I just don;t erally look that often anymore.

[Serpo]

Cartel Dumps 225 Million Ounces of Paper Silver Over 30 Minutes As Gold, Silver Raided


http://www.kitco.com/images/live/silver.gif (http://charts.kitco.com/KitcoCharts/index.jsp?Symbol=SILVER&Currency=USD&multiCurrency=true&langId=EN&utm_source=kitco&utm_medium=banner&utm_content=20110407_iCharts_silver_chart&utm_campaign=iCharts)We reported a few minutes ago on the gold & silver raid in progress. The cartel raids have now smashed gold over $82 from $1788 to $1706, and silver close to $4 (10%!!) from $37.62 to $33.68. Also notice the classic mini-parabolic moves to the upside immediately prior to the raid- absolutely CLASSIC CARTEL ACTION!
The raid began at exactly at 10:00am EST coinciding with the Fed's release of its monetary policy statement to the House Financial Services Committee.
For those who claim these immediate waterfall gap-downs in both metals were as a result of Bernanke's dissapointment in no further QE, please realize this occurred exactly as the full report was released, and note the massive paper volume of 225 MILLION OUNCES OF PAPER SILVER OVER 30 MINUTES used to smash gold by $65 and silver by $2!:



NetDania, while a spot chart- obtains their volumes from futures volumes, and displays the smash visibly the best. BrotherJohnF (http://www.brotherjohnf.com/uncategorized/silver-cartel-dumps-225-million-ounces-in-30-minutes/) just published a NetDania screen shot demonstrating a volume of over 20,000 contracts, or 225 MILLION OUNCES of paper silver sold over 30 minutes.


http://www.brotherjohnf.com/wp-content/uploads/2012/02/silver2291211-1024x553.jpg

Lest you think this is merely another 'data glitch' by NetDania, we are working on getting an RJO futures chart posted ASAP.

As mentioned above, notice the mini-parabolic up-move in silver immediately prior to massive raid to draw in new suckers (longs) to add firepower to the smash as they are forced to puke their positions moments later as stop-losses are taken out.
http://www.kitco.com/images/live/silver.gif (http://charts.kitco.com/KitcoCharts/index.jsp?Symbol=SILVER&Currency=USD&multiCurrency=true&langId=EN&utm_source=kitco&utm_medium=banner&utm_content=20110407_iCharts_silver_chart&utm_campaign=iCharts)

And in gold:
http://www.kitco.com/images/live/gold.gif (http://charts.kitco.com/KitcoCharts/index.jsp?Symbol=GOLD&Currency=USD&multiCurrency=true&langId=EN&utm_source=kitco&utm_medium=banner&utm_content=20110407_iCharts_gold_chart&utm_campaign=iCharts)

Now we know why the cartel stepped back and allowed gold and silver to run higher through significant resistance points over the past 3 days- they have been waiting to coincide their smash with the release of the Fed's policy statement, in a weak attempt to use the Fed statement as cover for their massive raid and paper manipulation of the gold and silver market.
http://silverdoctors.blogspot.com.au/2012/02/cartel-dumps-225-million-ounces-of.html#more

[BrewTech]

Who cares about the nominal price? Buy buy buy!

If you can. Some can't.

[Sparky]

I'd just like to say it's nice to see silver holding past $33.

[Serpo]

quote

in a weak attempt to use the Fed statement as cover for their massive raid and paper manipulation of the gold and silver market.

makes it all the more obvious if you ask me



120 days of mining(third of a year) dumped in 30 minutes.......of course dump them all at the same time...its only pesky silver ,who needs the stuff.

[MAGNES]

http://silverdoctors.blogspot.com.au/2012/02/cartel-dumps-225-million-ounces-of.html#more

That blogspot is overdone.

$ 2 isn't smashing anything, this area is volatile, the blogspot fails to
show you this, and fails overall because it is analyzing SI on it's own,
Reminds me of Strawboss too, a very shady character. Reminds me
of other blogs over the years, Large Sarge and I were even debating
last summer.

I have had a consistent message on this for years.

SI is following GC, GC was dumped, that is how they get it started, GC was on major resistance, at 1800, just as SI was sitting right on major resistance and it popped, major buy stops and sell stops are being triggered at this area, SI 34-36, traders are being swung in and out of trades, 20 K contracts is nothing for this area, you have a resistance line formed, it is also a right shoulder, it is also sitting on 200SMA, 200EMA, you have that MA flattening, etc, other technical signals. All in this tight area. And the chart still looks strong. When they dropped GC in a big way SI went through this area, and came off strong on 34 resistance. It held up great, or appears to have, the Shorts went long, lol .

When they dump they don't even have to sell, just stop taking orders
for a bit, sell a bit, give it a push, hit sell stops, etc, they will pump USD
maybe.

Having said all of the above they do destroy SI with major short sells,
that is how they make money too, but I highly doubt what happened
today effected the COT in any significant way.

I strongly encourage everyone to look at the charts yourselves.
I gave some good links to charts I have been using for years.
Everything I am talking about, last two posts, you can see it yourself,
it's easy.

You can analyze SI, but it is very important to do it relative to GC.
GC is doing the major moves. My posts here complement that blogspot
sans the sensationalism or cheer leading.

And the tops of this market, where I document and give a link above,
they were dumping 1 billion oz to 1.5 billion oz daily and trading in
that level daily, and regularly, eve since SI broke previous high of 22.
This was a huge anomaly to the regular volumes of maybe 30K on 90K OI,
which itself is high turn over anyways. Its a crazy market.
They just turning paper burning everyone.

Cartel Dumps 1 Billion Oz Daily. ;D
Capping Silver, Massive Volume Price Drops (http://gold-silver.us/forum/showthread.php?48305-Capping-Silver-Massive-Volume-Price-Drops)

If SI gets dumped past $34 , wake me up, that is the number to watch.

The biggest thing that happened today was the right inverse shoulder
on GC getting broken.

[LuckyStrike]

Hey what do you know, I may be able to afford physical after all :)

Thak you OP, as well as SilverRocketBitches for the pic which is a surefire way to bring the prices down to a level I can afford ;)

[BrewTech]

Go back to $28, I'm still buying! These metal manipulators are doing a terrible job driving down the price of silver. I'm takin over.

2320http://gold-silver.us/forum/images/misc/pencil.png

Hey, whaddaya know? It works!

[Serpo]

http://www.youtube.com/watch?feature=player_embedded&v=IkJk2h5YZLw#!

http://www.youtube.com/watch?feature=player_embedded&v=IkJk2h5YZLw#!

[Twisted Titan]

All these pricks are doing is making the strong hands even stronger and giving them a gift at the same time.

[BrewTech]

All these pricks are doing is making the strong hands even stronger and giving them a gift at the same time.

Appears that the other markets are taking advantage of today's sale price.

Wonder if Blythe has ammo for another smackdown tomorrow?

[Awoke]

It seemed to be stuck in the $33 to $34 zone for quite some time. Nice to see it at $36.

....ho hum. So much for that.

[mamboni]

Buying opportunity. I am fully invested in silver. But I am sitting on a lot of new cash. If silver hits $33 I'm plunking down $40K for more physical. TPTB have pulled all the stops to keep this dead economy imitating life. QE3 is happening now. Do not take your ques from Bernanke who claimed that no QE was in the offing for now - he is a liar. He is pumping and monetizing in a stealth manner now. As for silver and gold: they are your only refuge from what is coming: rapant inflation and dollar devaluation. It's real easy - there are no alternative wealth preservers. The building is burning; gold and silver are the fire exit. Wait too long and you will be burned alive.

[Awoke]

But I am sitting on a lot of new cash.

I wish!

[Shami-Amourae]

What happens if they just replace it with another fiat currency, but this time it's global? Aren't we screwed holding the bag? There aren't many times in history where the bankers actually lost. They seem to always win.

I'm just playing devil's advocate. I would like your response.

[Spectrism]

What happens if they just replace it with another fiat currency, but this time it's global? Aren't we screwed holding the bag? There aren't many times in history where the bankers actually lost. They seem to always win.

I'm just playing devil's advocate. I would like your response.

The percentage of people who actually buy precious metals has to be tiny. Most people I know and talk with think I am a nut for even buying any silver. They can accept old silver coins as being a coin collector has always been ok. In my limited experience, I would have to say that less than 3% buy PMs.

[EE_]

I stopped in a gold/silver dealer, with the "we buy gold sign" a couple hours ago.
I was amazed how little this guy knew about the market, economy and politics.
I played a little dumb as I asked about buying silver.
First he told me he wanted $2 over spot and he quoted me a dollar high on kitco price.
I asked if that's the best he could do and he said, okay $1.50 over spot.
I told him he'd better check kitco spot again, because I was sure it was lower.
He did and sure enough, whopp's you're right kitco $33.80
I said okay, I'll take this J&M 10 ouncer for $353. This is a good price for my favorite bar!
Ebay gets up to $425 for these.
He had plenty of "ghetto bars" but only one J&M. I would have bought all he had of these, if he had more.
After the purchase I began to tell him what I knew about the market, economy, etc.
I blew his mind! He'll be reasearching the web tonight.
If silver keeps dropping, I'll be scouting the rest of the dealers in the area.

[Spectrism]

Ferengi rule of acquisition number 47: Do not educate the mark after the deal because you might want to do business with him again. An ignorant trader is a good trading partner.

[chad]

$425 for a j&m bar? man, time for me to get on ebay.

[EE_]

Ferengi rule of acquisition number 47: Do not educate the mark after the deal because you might want to do business with him again. An ignorant trader is a good trading partner.

I suppose it could work both ways. He could appreciate your knowledge and you may establish a good relationship for better business later.

[EE_]

$425 for a j&m bar? man, time for me to get on ebay.

What, you can't wait for them to sell for $1,000?

10 ounce J&M and Engelhard's are the easiest bars to sell

[LuckyStrike]

....ho hum. So much for that.

Dear Awoke,

If you find the time, could you please make another thread about how good it is to see silver holding above 30? I would like to purchase some physical in the next few weeks and would be delighted if the price would drop some more. Clearly your kung fu is superior in driving this market back to affordability. You've got the joo joo I can count on.

Sincerely,

LuckyStrike

[Sparky]

Ferengi rule of acquisition number 47: Do not educate the mark after the deal because you might want to do business with him again. An ignorant trader is a good trading partner.
Well, you mean in terms of serving your self interest...