With all the hoopla, silver is currently down only approximately 3.7% from the price that was noted at the beginning of this thread (27.53), after it had already retreated from its high that day.
That is known in the trade as the "Hanes Maneuver."
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
Futures were high at 29.34 the day I made the OT....silver was 25.5 when I posted recent numbers. You just have to contradict every FACT that is posted.
I'm glad you saw a 3.7% drop. Please....share your formula that shows an ~$4.00 drop as 3.7%.
BTW...I covered my position when I posted that. I take profits over my predicted targets when it feels real GOOOOD!
Futures were high at 29.34 the day I made the OT....silver was 25.5 when I posted recent numbers. You just have to contradict every FACT that is posted.
I'm glad you saw a 3.7% drop. Please....share your formula that shows an ~$4.00 drop as 3.7%.
BTW...I covered my position when I posted that. I take profits over my predicted targets when it feels real GOOOOD! >>
Yes, silver was ALREADY way down from the daily high, at the time you posted. You wrote this, nine minutes into this thread: "Seeing silver futures hit $29.34 intraday and then fall to 27.53 is a classic sign of a top." And the chart for that day looks to show that silver was already below $28 at the time, as well.
My point was that the price has changed very little since you started this thread - from approximately $27.50 then, to approximately $26.50 when I first posted today. But you seem to want to take credit for calling a $4.00 drop. That's despite the fact that much of that drop had already occurred before you first posted, and even though silver is quite a bit higher now than it was at the low for that day.
I don't know if silver is cooked or not, but I don't think so. I don't know if gold is going to $1,650+ soon, but I think it is. I don't know if silver is going over $50 any time soon, but I think it will.
I don't know if the dollar will collapse or if the government will default on it's debt in order to slide out from under all the money we owe. I don't know if the CME is papering over their shortage of physical, but I think so. I don't know if you should short SLV or buy more, and I don't know when you should do it.
What I know for sure is that we have a shortage of people who understand math. And many of the ones who do are only involved in executing trades faster than anyone else for the benefit of their bosses.
I've made a determination that pms are about as good as it gets in terms of knowable financial security, for the duration. Trading is fine as a recreational sport, but it's not for everyone.
Q: Are You Printing Money? Bernanke: Not Literally
OK, so silver is jumping today. Who does that make right, and for how long? Since I am just going to hold my silver, the day-to-day stuff really doesn't matter to me, but I have learned a few things about silver trading in this thread, so it's all good.
<< <i>A real MAN would short 100 Dec Comex contracts. >>
A real man, huh? I was a commodity trader on the floor of the CME from 1979-1986. I saw "real men" soil their pants with 20 contacts. And I traded pork bellies...back then they traded so fast they made silver look like sand futures.
<< <i>Jay...you may be right...but this still belongs on the precious metals forum. >>
Well....it's been quite a while...but BITE ME! >>
Said with your characteristic humility. Often wrong, but never in doubt.
Whatsamatter, no one to impress over at precious metals giving you the respect you continually tell us you deserve?
"People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf." - Geo. Orwell
I'm REALLY sorry to everyone here, especially Feld, who forgot to correct me on being in the wrong forum. I will make it up to all of you, especialy ColonelSanders.
<< <i>So... I hope everyone got out in time. There are always ways to make money in any markets but it's easier when the trend is on your side. >>
I'm trying to figure out just where you have your tongue... >>
I hate to see real people who have to work hard for their money lose any of it. >>
So you are in the "it's going down, down, down" group? >>
I don't know what silver will do in the short term.
Gold will resume its trend and head higher or we'll have a depression that significantly reduces world population including in this country. Gold will go up.
In the long term silver will move higher explosively. This can be touched off by almost anything including its own success.
The trend is your friend if you keep your bets on the same side as the trend. You can make good money betting against the trend but it you don't keep your stops close you can lose even more.
Someday with no more warning than we've had so far silver can put together many multi- dollar up moves in a row. I wouldn't want to be on the short side when this happens.
I'm REALLY sorry to everyone here, especially Feld, who forgot to correct me on being in the wrong forum. I will make it up to all of you, especialy ColonelSanders. >>
See, I told you all we needed a sarcasm emoticon.
The Colonel doesn't do chicken. But I recognize a ham when I see him. I hear they gave you a medal for humility, but they took it back when you wore it.
"People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf." - Geo. Orwell
They raised the margin requirements again. That's not such a bad idea. Once the leveraged accounts get wrung out of the system, then it's "put up or shut up time" down at the exchange. Watch what silver does when the market goes physical.
This isn't on the same plane as the nice Large Cent that SG had, but it is a red cent going brown!
Q: Are You Printing Money? Bernanke: Not Literally
My point was that the price has changed very little since you started this thread - from approximately $27.50 then, to approximately $26.50 when I first posted today. But you seem to want to take credit for calling a $4.00 drop. That's despite the fact that much of that drop had already occurred before you first posted, and even though silver is quite a bit higher now than it was at the low for that day.
Oh, snap! I heard that. I don't know about the rest of you guys, but I for one would like to see Mark and Jay settle this in the cage. My money would be on Jay. I bet Mark is faster, but I think Jay would fight dirty. If a cage match is out of the question, maybe a dance-off, or a rap battle or something? I have no idea who would suck less with either of those.
So is Toast in demand today? (wasn't silver declared to be Toast?)
Serious question. Is this the start of the next leg up or is this just a blip and a profit taking opportunity? coincidentally, I loaded up about a thousand oz to sell today...but maybe the rest of the week will be as strong as today...maybe I should just flip a coin...
Silver is apparently not cooked anymore.......it's cookin'! Fwiw it has yet to break the uptrend line from August or even the 20 dma. Starting to look like a nice cup forming that could push it to $33. The other commodities are coming back to life as well to lend support. Interesting that the majority of the major silver miners are now at new yearly highs. The silver short ETF ZSL just set a new yearly low as well. Smokin'!
It's looking like silver's 30 yr high from early November will soon be "cooked," possibly today.
More than likely today's close will be a 30yr high in both the daily and weekly. That's cookin' that even Mama would love.
Edit for end of day: Oh well..........a fresh 30 yr high achieved today! Silver's on a roll...taking no prisoners, and punishing the shorts. The fat lady slipped while off stage and won't be singing just yet.
Comments
I hope everyone got out in time.
There are always ways to make money in any markets but it's easier when the trend is on your side.
My Adolph A. Weinman signature
<< <i>Creeping back up . . . >>
With all the hoopla, silver is currently down only approximately 3.7% from the price that was noted at the beginning of this thread (27.53), after it had already retreated from its high that day.
<< <i>So...
I hope everyone got out in time.
There are always ways to make money in any markets but it's easier when the trend is on your side. >>
I'm trying to figure out just where you have your tongue...
<< <i>Creeping back up . . . >>
That is known in the trade as the "Hanes Maneuver."
& I'm selling calls on SI.
Futures were high at 29.34 the day I made the OT....silver was 25.5 when I posted recent numbers. You just have to contradict every FACT that is posted.
I'm glad you saw a 3.7% drop. Please....share your formula that shows an ~$4.00 drop as 3.7%.
BTW...I covered my position when I posted that. I take profits over my predicted targets when it feels real GOOOOD!
<< <i>No....When I posted this it was down 14%.
Futures were high at 29.34 the day I made the OT....silver was 25.5 when I posted recent numbers. You just have to contradict every FACT that is posted.
I'm glad you saw a 3.7% drop. Please....share your formula that shows an ~$4.00 drop as 3.7%.
BTW...I covered my position when I posted that. I take profits over my predicted targets when it feels real GOOOOD!
Yes, silver was ALREADY way down from the daily high, at the time you posted. You wrote this, nine minutes into this thread: "Seeing silver futures hit $29.34 intraday and then fall to 27.53 is a classic sign of a top." And the chart for that day looks to show that silver was already below $28 at the time, as well.
My point was that the price has changed very little since you started this thread - from approximately $27.50 then, to approximately $26.50 when I first posted today. But you seem to want to take credit for calling a $4.00 drop. That's despite the fact that much of that drop had already occurred before you first posted, and even though silver is quite a bit higher now than it was at the low for that day.
<< <i>
<< <i>So...
I hope everyone got out in time.
There are always ways to make money in any markets but it's easier when the trend is on your side. >>
I'm trying to figure out just where you have your tongue... >>
I hate to see real people who have to work hard for their money lose any of it.
I don't know if the dollar will collapse or if the government will default on it's debt in order to slide out from under all the money we owe. I don't know if the CME is papering over their shortage of physical, but I think so. I don't know if you should short SLV or buy more, and I don't know when you should do it.
What I know for sure is that we have a shortage of people who understand math. And many of the ones who do are only involved in executing trades faster than anyone else for the benefit of their bosses.
I've made a determination that pms are about as good as it gets in terms of knowable financial security, for the duration. Trading is fine as a recreational sport, but it's not for everyone.
I knew it would happen.
<< <i>
<< <i>
<< <i>So... I hope everyone got out in time. There are always ways to make money in any markets but it's easier when the trend is on your side. >>
I'm trying to figure out just where you have your tongue... >>
I hate to see real people who have to work hard for their money lose any of it. >>
So you are in the "it's going down, down, down" group?
Can you guess the punchline?
<< <i>well Feld....from the time I posted and the time I bought puts was a hell of a lot different. But there's a difference between puts and putz.
Can you guess the punchline?
Yes, I can - "Sainty doesn't feel so syrupy, when those pesky facts interrupt his self congratulatory, self back-patting. "
<< <i>
<< <i>well Feld....from the time I posted and the time I bought puts was a hell of a lot different. But there's a difference between puts and putz.
Can you guess the punchline?
Yes, I can - "Sainty doesn't feel so syrupy, when those pesky facts interrupt his self congratulatory, self back-patting. " >>
Oh MotherFeld...you just love to police these boards looking for whiney inserts. If I needed back-patting I'd have your heros post about my calls.
The fact is, I was right. Point-set-match.
<< <i>cowboys will be cowboys
And Jay will be ... uhm ... Jay.
<< <i>
<< <i>well Feld....from the time I posted and the time I bought puts was a hell of a lot different. But there's a difference between puts and putz.
Can you guess the punchline?
Yes, I can - "Sainty doesn't feel so syrupy, when those pesky facts interrupt his self congratulatory, self back-patting. " >>
Last time I patted myself on the back I dislocated my shoulder
<< <i>cowboys will be cowboys
Here's the whole platoon!!
Heyyyyy - how come you bought MY puts at $24???
just going to hold my silver, the day-to-day stuff really doesn't matter to me, but I have
learned a few things about silver trading in this thread, so it's all good.
<< <i>
<< <i>A real MAN would short 100 Dec Comex contracts.
A real man, huh? I was a commodity trader on the floor of the CME from 1979-1986. I saw "real men" soil their pants with 20 contacts. And I traded pork bellies...back then they traded so fast they made silver look like sand futures.
<< <i>Jay...you may be right...but this still belongs on the precious metals forum.
Well....it's been quite a while...but BITE ME!
Said with your characteristic humility. Often wrong, but never in doubt.
Whatsamatter, no one to impress over at precious metals giving you the respect you continually tell us you deserve?
I'm REALLY sorry to everyone here, especially Feld, who forgot to correct me on being in the wrong forum. I will make it up to all of you, especialy ColonelSanders.
``https://ebay.us/m/KxolR5
<< <i>
<< <i>
<< <i>
<< <i>So... I hope everyone got out in time. There are always ways to make money in any markets but it's easier when the trend is on your side. >>
I'm trying to figure out just where you have your tongue... >>
I hate to see real people who have to work hard for their money lose any of it. >>
So you are in the "it's going down, down, down" group? >>
I don't know what silver will do in the short term.
Gold will resume its trend and head higher or we'll have a depression that significantly
reduces world population including in this country. Gold will go up.
In the long term silver will move higher explosively. This can be touched off by almost
anything including its own success.
The trend is your friend if you keep your bets on the same side as the trend. You can
make good money betting against the trend but it you don't keep your stops close you
can lose even more.
Someday with no more warning than we've had so far silver can put together many multi-
dollar up moves in a row. I wouldn't want to be on the short side when this happens.
deleted
<< <i>Jay, you know you could just start a thread that said "NEVERMIND" and you'd be a target, man. >>
and yet everytime I try to get out you keep dragging me back in!
I knew it would happen.
<< <i>Oh...that really hurt.
I'm REALLY sorry to everyone here, especially Feld, who forgot to correct me on being in the wrong forum. I will make it up to all of you, especialy ColonelSanders.
See, I told you all we needed a sarcasm emoticon.
The Colonel doesn't do chicken. But I recognize a ham when I see him. I hear they gave you a medal for humility, but they took it back when you wore it.
Still have to wait for the fat lady to sing for "match." And in the meantime she's off stage grabbing a bite:
roadrunner
But anyone who quotes The Indigo Girls has a vast library of reference quotes.
How now brown cow.
This isn't on the same plane as the nice Large Cent that SG had, but it is a red cent going brown!
I knew it would happen.
That one isn't so shabby either!
Someone posted it to a thread just recently. Damn, I wish I had it too.
I knew it would happen.
Oh, snap! I heard that. I don't know about the rest of you guys, but I for one would like to see Mark and Jay settle this in the cage. My money would be on Jay. I bet Mark is faster, but I think Jay would fight dirty.
<< <i>That should be obvious.... where else would brown cents come from? >>
It makes sense to me.
There's no better place to hide anything than in plain sight but it will cause one's cents to darken.
Serious question. Is this the start of the next leg up or is this just a blip and a profit taking opportunity? coincidentally, I loaded up about a thousand oz to sell today...but maybe the rest of the week will be as strong as today...maybe I should just flip a coin...
--Jerry
Too many cooks can spoil the stew.
silver chart
roadrunner
I knew it would happen.
roadrunner
More than likely today's close will be a 30yr high in both the daily and weekly. That's cookin' that even Mama would love.
Edit for end of day: Oh well..........a fresh 30 yr high achieved today! Silver's on a roll...taking no prisoners, and punishing the shorts. The fat lady slipped while off stage and won't be singing just yet.
roadrunner
I got seven women on my mind.....
Whoa! Was that $29.00/oz. in the rear view mirror, again?
BA-BOOM!
I knew it would happen.
$30 looks to be baked in for Monday. May not even stay in the $20's before tonight is over.
The cooking class continues. Everyone make sure to leave room for desert.
roadrunner