Here comes $14 on silver...

Newb

will they let it run this time??

TheRaven

That is good since I bought a bunch at $14 in the spring

Newb

<< <i>That is good since I bought a bunch at $14 in the spring >>



Same here around $12 lol - chart looks too toppy here - bound to retrace to $13 or so

topstuf

Bags awful close to 10 grand again.

Longacre

I'm a seller at $15. I bought at $10.

guitarwes

I thought it had leveled off a while so I dumped a bunch @ 7.2X face a couple of weeks ago. Then, like the next day, someone on here said they were buying @ 8.5X face.

but, I bought @ 4.2X face last year when it was $7/oz...........not to shabby

Coxe

<< <i>I'm a seller at $15. I bought at $10. >>



Why? If it breaks and establishes $14 as its new support, we need to figure out where the new resistance is. Right now it is $14. Making it to $15 is a significant break of that resistance.

topstuf

Screw the "new" resistance. I'm more interested in the FUTURE resistance. To which I'll venture there will be NONE.

What we are seeing in the dollar has never been seen before. This isn't at all like the depression of 70 years ago. We no longer have a "war" to count on nor the manufacturing base to build the economy anew.

Anyone who is watching the growth of the "derivative" market can not disagree.

We'll see.

jgrinz

I have been waiting and watching as I am sitting on a complete ROLL set of Silver Eagles from 1986-2006

So it has BOTH intrinsic value ( Silver ) and Collectibility value ... Tough part is going to to say de"PART"

fishcooker

Personally I prefer to focus on current resistance and current support. That correlates well with my current account balance.

But to each his own.

Newb

<< <i>Screw the "new" resistance. I'm more interested in the FUTURE resistance. To which I'll venture there will be NONE. >>



Oh hell yeah...now you're talking

cladking

<< <i>

<< <i>I'm a seller at $15. I bought at $10. >>



Why? If it breaks and establishes $14 as its new support, we need to figure out where the new resistance is. Right now it is $14. Making it to $15 is a significant break of that resistance. >>



$14 is virtually the only resistance whatsoever. There was very little activity
for a brief time, long ago above $14. There will be a small resistance if it gets
to about $24.50 but otherwise it will simply need to establish new ones if and
when it breaks 14.

This is not the breakout yet, just a normal secular move.

Coxe

That's where I was going on it. I also think the break out will have to be event driven and otherwise will trade in a narrow channel around here for a bit. However, it might not take much of an event (or excuse) to push it over the top. Then we really don't know where the resistance is. Not sure that would be accumulating at this level now, but after a breakout and a bounce after a subsequent $14 support test. I am not selling any though.

BrianKuszmar

Has anyone thought of the possibility if European and/or Asian interests demanded physical delivery on a huge amount of contracts.

Similiar to what Hunts did here in 79-80 excepts it wont be here due to laws enacted to prevent that from happening in the states again, I also suspect this regulation is not global.

Less above ground available supply.

Industrial demand is not decreasing.

It is possible that something in the near future could surprise the hell out of all of us, even the extreme bulls. Then again, could be back to biz as usual.

Regards

Bochiman

I want it to tank right now.
That way, I can buy a roll, or two, of SAEs in January

I have done that the last couple of years. However, if it sits where it is, or even about $12, I won't do that.

ArgentumRex

I've bought all kinds of silver at all kinds of prices. I'm sure I'll end up watching it go all the way up and all the way back down. But this time I'm going to buy lots more gold and silver when they hit their low, you'll see!

cladking

<< <i>Has anyone thought of the possibility if European and/or Asian interests demanded physical delivery on a huge amount of contracts.

Similiar to what Hunts did here in 79-80 excepts it wont be here due to laws enacted to prevent that from happening in the states again, I also suspect this regulation is not global.

Less above ground available supply.

Industrial demand is not decreasing.

It is possible that something in the near future could surprise the hell out of all of us, even the extreme bulls. Then again, could be back to biz as usual.

Regards >>



We often speak of the physical demand for silver and the decreasing amount available
and it is this which should eventually propel a breakout. But the real danger to the silver
price and supply comes from investors and speculators. While gold is available in huge
stockpiles held all over the world, there is no such availability for silver. One can't easily
go out and lay his hands on large dollar amounts of silver like he can on gold. Even a
small change in investor psychology would have a huge impact onthe availability of silver.
Even if the price of silver increased several fold there could still be a few investors clamor-
ing for each ounce of silver.

There's probably no more than two or three times as much silver in the world as gold and
a larger percentage of the silver is tied up in applications and artifacs. There are already
enough silver investors to push the price much higher but most have paper silver rather
than the physical commodity.

I'm still looking for a 40: 1 ratio with gold before gold's bull market resumes. It may or may
not take silver with it.

MrKelso

I am a seller at $25 to $35 until then let it ride.

Coxe

Looks like someone tried to kick it up over $14 after NY closed.

With respect to the physical quantities, the real sticky point is the delivery requirement relative to the EFT shares. It is estimated that there remains only about 150 million ounces of usable above ground silver remaining. An interesting thing to ponder is that the US population is 300 million now. Think each person in the US (ignoring the rest of the world) could get by consuming less than a half ounce of silver in their life times statistically, driectly or indirectly? What about the rest of the world and future generations? How much is still in the ground and how fast and at what expense can we get at it? Use also means attrition out of the EFTs and COMEX.

roadrunner

This is only the beginning on silver and gold. You ain't seen nothing yet.

roadrunner

topstuf

What a silly forum. It won't allow a link to Market Watch if the words are TOGETHER in the link because of the dirty dirty dirty word it makes.

THIS kinda stuff is wot will bring this country to it's knees. Wait, it's already on its knees.
foolishness.

topstuf

More than one way to skin a cat.


Let's just read the funnies.

ibzman350

So the Bonehead mistake I made here ain't so bonehead after all??





Herb

kwmorgan

It's all up to Bernanke right now. Either he lets the dollar devaluation play out, or he cranks up interest rates to defend the currency. He's really in a nasty "Catch-22". Personally, I think he's gonna let it play out for a while longer.

topstuf

Dangerous move to try to attract trust with interest rates.

Especially for a country that RUNS on ..... HOUSING ..... credit.

Newb

Dollar off a cliff, silver up up up....could get nasty here soon

Coxe

It is one good session in NY right now. If it closes just slightly above $14 and takes off over the weekend, things will be very interesting.

Coxe

Hong Kong is trying to take out 14 and a nickel. Probably will test 13.95 before any further ascent. Should be an interesting day/week for silver.

Coxe

Exactly as expeced with a NY close of 14.05.

Coxe

Take a look at silver. Blew right through 14.15 at the NY open. Had fished support at 13.95 and 14.00 and looks pretty solid for 14.00.

TwoSides2aCoin

It's gonna go much higher than $14

fishcooker

$13.87 has broken support, so look out below. Right?

kimon1230

$13.82
I'm guessing a great deal of people lost money in the past 24/48 hours

Coxe

Wow, did that ever plunge hard. I'll have to check the news to see what happened.

Smittys

<< <i>$13.82
I'm guessing a great deal of people lost money in the past 24/48 hours >>



Or a lot of people sold and made lots of money

kimon1230

<< <i>

<< <i>$13.82
I'm guessing a great deal of people lost money in the past 24/48 hours >>



Or a lot of people sold and made lots of money >>

Yep, they're the other side of the same coin

fastrudy

$13.81 and dropping ! Don't count on a silver bustout over $14 today.

fishcooker

Maybe it will break out again tomorrow.

Bear

The only thing that is going to break

out on silver is......ANXIETY!!!!!!!!!!!!

notwilight

<< <i>The only thing that is going to break out on silver is......ANXIETY!!!!!!!!!!!! >>



Not for the "Bears"....

circulated

IMO, Silver is one of the best places to put your money right now. Anyone who is unfamiliar with Ted Butler should take some time to read his stuff. He's pretty much the "King" of silver - extremely knowledgeable with remarkable insight. ( most people are unaware, for example, that the 4 largest traders hold over 90% of the total commercial net short position on the COMEX.)

He's bullish on gold but nowhere near the level of silver. Check out his writings - and if you can prove him wrong, please try to - as I don't believe anyone has yet.
In any case, Silver at $20 is nothing

Just to be sure this post stays coin related: In his most recent article he talks about why American Silver Eagles are the best form of silver invesment - a nice diversion from those who who have a problem paying a "premium"...

Here is a link to his articles:



http://www.investmentrarities.com/tb-archives.html
THEODORE BUTLER SILVER ARCHIVES