silver spot
derryb
Posts: 36,792 ✭✭✭✭✭
anyone else noticing the rapid rise in silver spot today?
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
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Comments
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Silver is the mortar that binds the bricks of loyalty.
I knew it would happen.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>Any guesses to why the surge today? >>
Office party at the CTFC? Maybe they aren't aware.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>Any guesses to why the surge today? >>
Perry dropped out the whole country is HAPPY!
Doesn't seem like alot, but a couple of GSR points means one metal has gained quite a bit on the other.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
Hopefully it is not another drive up then dump price manipulation like all the recent ones in the last 2 yrs or so.
I really don't trust any market today.
All I can do is hope to catch a ride part ways.
Best.
Oversupply Concerns
<< <i>I guess they didn't read last weeks report on the "oversupply " of silver flooding the market.
Oversupply Concerns >>
propaganda
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<< <i>
<< <i>I guess they didn't read last weeks report on the "oversupply " of silver flooding the market.
Oversupply Concerns >>
propaganda >>
I don't believe so...back in November, a forecast called for a surplus of 12000 tons by e/o 2011. Has this surplus been absorbed? For the first time in several years, the US Mint has lifted all restrictions to the AP's on ASE's ordering. It's obvious an over supply along with less demand seems to be the current norm.
Historical AGQ prices
Well done! Today's move should put you in #1 for week 3
Liberty: Parent of Science & Industry
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
<< <i>Very nice! You benefitted hugely from the anomolous bottom right exactly at the end of Dec.
Historical AGQ prices
Well done! Today's move should put you in #1 for week 3 >>
What's even greater is that AGQ is up 8% and GOOG is down 9% as I type. A personal daily double
GOOG misses big
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i>Any guesses to why the surge today? >>
Take a good look, utilizing macd, histogram, williams%r, 3 yr sma on the silver Weekly and Monthly charts
<< <i>Any guesses to why the surge today? >>
FWIW there is lot's of chatter of QE3+ talks being leaked today......
Personally I would LOVE to see derryb win that contest by a country mile. MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
(a Splurge will be when it goes back down after the election
Liberty: Parent of Science & Industry
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"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>40 is a sure sign that you should be buying >>
Man, ain't that the truth (Curly talk).
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
Captn Henway would have to certify this, but I believe the correct term for that is "splunge".
I knew it would happen.
Nice job derryb!
<< <i>I'd love to see it back 40+ so I could unload some
We may see it at 38.00 within 30 days.
"Splurge" is what you do with big big profits... that is, if and when one actually locks in some gains.
Some of these more volatile securities have a high Beta, and can roller coaster all year and end up valued anywhere from up big, down big, flat, or anywhere in between, when an arbitrary calendar date rolls around or an actual trade is made..
Liberty: Parent of Science & Industry
There must have been something specific on silver, but I haven't heard or read anything new that would tend to indicate a move for silver.
It could just be a one-day anomaly.
I knew it would happen.
<< <i>There must have been something specific on silver, but I haven't heard or read anything new that would tend to indicate a move for silver. >>
Only thing I could find was the Wall Street Journal (where the FED leaks what it wants us to believe) stated "Federal Reserve officials are waiting to see how the economy performs before deciding whether to launch another bond-buying program."
This may very well be the FED wanting to put doubt in investors' minds about more QE. If so it is possible that the money ran to the industrial metal.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I must tell the truth as I have been down on Silver as of late, I did pick up 25 oz today and have another 50 oz bar locked in, but couldn't get to due to a snowstorm today.
Sold some 90% yesterday
Well, it closed at 32.20 Bid/32.30 ask. So, I guess it broke through. $38.00 you say is the next resistance point/
Oh if it were only that easy.
Closing at $32.20 Friday and not being able to build upon that, like what is happening today (or not happening depending on how you look at it), is not breaking thru .
It has to clear the hurdle completely before $38 is even thought about. The high-hurdler is only at the approach of the hurdle, barely having lifted his foot yet to clear that $32 hurdle. If $34-35 is approached and sustained for a period of time, then the $32 hurdle is cleared and it then becomes behind the runner and he then has his sight set on the next one which is $38 in my opinion. Hope this helps to explain it.
If $32 was heavy resistance as you say, and spot closed above this figure, then it broke through that heavy resistance. There is no real definition of whether is has to break through by X dollars or Y% to 'count' as a break.
Looking at today's action, there was a period this morning when it broke back under $32, and went back and forth over the next 19 minutes. Been green ever since.
Perhaps you meant 'follow through'?
I prefer the phrase break thru, because that means to me the resistance that was the last solid level is solidly in the rear view mirror.
Follow thru (or the lack there of) means it reached that point of resistance, but is stagnant % wise looking at it after doing so.
But all I've read these past few weeks was that silver was expected to make another adjustment before rising again.
Chime in, if you will on some statistics I've come up with.
$15-$20 Jan-08 to Aug-08 8mo
9-16 Sept-08 to Sept-09 12mo
15-20 Sept-09 to Sept-10 13mo
20-30 Sept-10 to Feb-11 6mo
30-50 Feb-11 to May-11 2.5mo
35-45 May-11 to Sept-11 4.5mo
30-35 Sept-11 to Dec-11 2.5mo
25-30? Dec-11 to Jan-12? This line may end up in last run.
I was thinking the adjustment would have been lower instead of rising.
What you say?
Leo
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