$32 floor $35 ceiling?

MsMorrisine · October 22, 2012 1:41PM

do we have a trading range for now?

** +/- 50 cents

derryb · October 22, 2012 1:56PM

we always have the last price paid, everything else is speculation.

Pokermandude · October 22, 2012 2:05PM

I think the lower bound of the current trading range will be sub $30.

mariner67 · October 22, 2012 2:36PM

<< we always have the last price paid, everything else is speculation.[/q

OPA · October 22, 2012 9:51PM

<< do we have a trading range for now? >>

It's been breached in overseas markets.

piecesofme · October 22, 2012 10:00PM

I think the lower bound of the current trading range will be sub $30

$27 is the floor, $32 is the ceiling now. We're in the next leg down.

tneig · October 23, 2012 12:49AM

Speculation is ok. It helps. Has there been any consistent speculation sources that have been correct a measurable majority of the time?

Trying to hold a little on the buying for a little lower, but not wanting to miss this hole.
Seems we are on a long run sideways roller coaster. That is, until it changes.

derryb · October 23, 2012 12:51AM

buy when your gut tells you to. you will be either right or wrong in the short term but if you plan on holding for a while, short term is most likely irrelevent.

guitarwes · October 23, 2012 1:06AM

<< buy when your gut tells you to. you will be either right or wrong.... >>

In mid-May of this year I had inguinal hernia surgery and while I was laid up in bed I was watching silver dip into the high 25's and my gut was telling me something fierce to BUY BUY BUY. Didn't know if it was the Percocet and Phenergan talking or the 5 inch slit in my gut, but I ended up missing that buy hole. This was also when Facebook went public My gut feeling was right on that......absolutely a no buy.

MsMorrisine · October 23, 2012 1:08AM

edited OP

roadrunner · October 23, 2012 1:14AM

Now in the final leg of the "next leg" down. 4-6 week correction. Already had 3 hits to silver. Today was the start of the 4th.

jmski52 · October 23, 2012 2:57AM

The dollar is strong today. Beats me why.

roadrunner · October 23, 2012 3:03AM

<< The dollar is strong today. Beats me why. >>

Dollar putting in its second up leg since the bottom at 78.93 four days ago. Briefly took a rest at 79.5 before heading up to 80.0.
Suspect it will continue up to at least 80.2 and possibly 80.7 this week. It's strong because the Euro was weak.

jmski52 · October 23, 2012 3:35AM

The stock market is at 13,129 off 1.6%. Gold is at $1,709, off 1.2%. The other pms are off more than 2%.

If everything starts dropping for the next few weeks, it may be smart to start figuring the relative percentages instead of price levels.

Baley · October 23, 2012 4:55AM

So, if prices went up because the Fed created more dollars, now that prices are going down, does that mean the Fed is now destroying dollars?

guitarwes · October 23, 2012 5:05AM

The Fed created a short-term "feel good" effect. Makes people feel warm and fuzzy and trusting. Like telling someone it's gonna be ok and throwing them a mink coat while theyre in the water in the middle of the Bering Sea in January........at the same time they're being eaten by a 26' Great White shark.

derryb · October 23, 2012 5:43AM

<< So, if prices went up because the Fed created more dollars, now that prices are going down, does that mean the Fed is now destroying dollars?

>>

It means the FED is not even good at destorying them when compared to the Europeans. Race to the bottom, my friend, Euro takes the lead. Dollar index is 47% weighted by the euro.

jmski52 · October 23, 2012 6:15AM

So, if prices went up because the Fed created more dollars, now that prices are going down, does that mean the Fed is now destroying dollars?

What makes you think that prices are going down? Are you somehow better off now than you were 8 hours ago?

roadrunner · October 23, 2012 6:19AM

<< So, if prices went up because the Fed created more dollars, now that prices are going down, does that mean the Fed is now destroying dollars?

>>

The FED is always in the thick of creating more dollars and more debt. There is no other alternative. The fact that prices still move up and down despite this is
just part of economic/business cycles. Gold and Silver have moved steadily up for 10 yrs in spite of some good whacks along the way. Short term prices can do most
anything when you have no real regulation or position limits on the futures and an unlimited pile of otc derivatives to play with.

derryb · October 23, 2012 6:39AM

buy with euros.

Justacommeman · October 23, 2012 6:58AM

Silver and gold looks to be getting off rather cheaply all thing considered in this latest stock market sell off. MJ

DrBuster · October 23, 2012 7:25AM

Cash is king for the next season or so. Blip in the road long term. Keep the opportunity eyes open.

OPA · October 23, 2012 7:37AM

<< Silver and gold looks to be getting off rather cheaply all thing considered in this latest stock market sell off. MJ >>

Today's lossess

DJIA -1.82%
NASDAQ -0.88%
S&P -1.44%

PM's

Gold -1.26%
Silver -2.40%
Plat. -2.37%
Pal. -4.97%

and the winner is: Rhodium -8.00%

OPA · October 23, 2012 7:38AM

<< Cash is king for the next season or so. Blip in the road long term. >>

Cash has never left that lofty place.

DrBuster · October 23, 2012 7:44AM

<< 

<< Cash is king for the next season or so. Blip in the road long term. >>

Cash has never left that lofty place. >>

It poops on opportunity and goes down when the timing is right. Cheap metal is an opportunity to consider.

OPA · October 23, 2012 7:46AM

<< 

<< 

<< Cash is king for the next season or so. Blip in the road long term. >>

Cash has never left that lofty place. >>

It poops on opportunity and goes down when the timing is right. Cheap metal is an opportunity to consider. >>

There is no such animal as "cheap metal."

DrBuster · October 23, 2012 7:49AM

<< 

There is no such animal as "cheap metal."

>>

Or expensive paper monster.

Justacommeman · October 23, 2012 8:04AM

<< 

<< Silver and gold looks to be getting off rather cheaply all thing considered in this latest stock market sell off. MJ >>

Today's lossess

DJIA -1.82%
NASDAQ -0.88%
S&P -1.44%

PM's

Gold -1.26%
Silver -2.40%
>>

Usually when equities poop the bed the metal sell off is even more pronounced or exacerbated. The last couple equity sell offs (the past few sessions) haven't been as dramatic.

Anyways, when equities sell off there are not a lot of places to hide on the long side.

I still like the way banks are behaving during this recent storm.

MJ

TwoSides2aCoin · October 23, 2012 9:08AM

There's a good time in and a good time-out. Who's in a Time-Out ?

cohodk · October 24, 2012 3:32PM

MJ,

Look at BKX.

Justacommeman · October 24, 2012 3:39PM

<< MJ,

Look at BKX. >>

It has it's own monitor

Tomorrow will be telling. I like the index to bounce here. I'm on a flight back to Asia tomorrow. I didn't love what I saw two weeks ago. Taking another peek. I can't figure a couple things out in Japan.

I'm on auto pilot trade wise for the balance of the week.

MJ

piecesofme · October 24, 2012 10:18PM

I'm on auto pilot trade wise for the balance of the week

I've never had luck being on auto pilot trade mode. Seems like too often I get tripped into an option, only for the b'tards to take the value down on me. The MM's know buy/sell points and do this because they can. I prefer to trade live.
I equate it to putting in a bid on a coin or silver bar on eBay 2 days before the auction ends. You will always get taken out...when you could've waited til the auction was ending a pick a price based on what it is at that time.
Seems to make a huge difference in my trading,,, just to mention. Anyone else feel like this happens to them more often than you think it should?

cohodk · October 25, 2012 2:07AM

I can't figure a couple things out in Japan

Who can?

I have the index right on the 50dma and uptrend line. R2K, INDU, NAZ also on yr long uptrend lines. A break will be quite pronounced. Metals would not be immune.

Justacommeman · October 25, 2012 4:00AM

<< I'm on auto pilot trade wise for the balance of the week

I've never had luck being on auto pilot trade mode. Seems like too often I get tripped into an option, only for the b'tards to take the value down on me. The MM's know buy/sell points and do this because they can. I prefer to trade live.
I equate it to putting in a bid on a coin or silver bar on eBay 2 days before the auction ends. You will always get taken out...when you could've waited til the auction was ending a pick a price based on what it is at that time.
Seems to make a huge difference in my trading,,, just to mention. Anyone else feel like this happens to them more often than you think it should? >>

There are ways to protect yourself from this. I find setting trades w/conditions the way to go. The right on line platform and broker help as well. I get better fills on auto pilot sometimes then when I trade live. It also takes all the emotion out of the trade. I also usually only trade highly liquid stocks/options with thin spreads.

Dave, I wanted to start buying Japanese equities but now I'm not to sure after my last visit. Some things at odds with each other. Taking another sniff.

<>

I read it the same way.

MJ

OPA · November 2, 2012 7:32AM

I suspect that the $27 -$35 trading range continues to be exploited.

derryb · November 2, 2012 8:21AM

<< So, if prices went up because the Fed created more dollars, now that prices are going down, does that mean the Fed is now destroying dollars?

>>

FED has been destroying dollars since 1913. Occasionally they can't even get that right.

piecesofme · November 2, 2012 10:24AM

Must I keep pounding the table? $32.50 is to $32 as $35.50 was to $35, a last gasp for air. After today, $31 is to $30 as $32.50 was to $32. It's a death march, end of story.

OPA · November 2, 2012 10:34AM

<< Must I keep pounding the table? $32.50 is to $32 as $35.50 was too $35. After today $31 is to $30 as $32.50 was to $32. It's a death march, end of story. >>

I disagree with your analysis....It's a successful retreat

So keep on pounding that table

MilesWaits · November 2, 2012 11:15AM

<< Must I keep pounding the table? $32.50 is to $32 as $35.50 was to $35, a last gasp for air. After today, $31 is to $30 as $32.50 was to $32. It's a death march, end of story. >>

POM: What? No one wants to admit they went for the head fake?
Silver aint ever gonna see $30 again, you (may have) heard it here first. Sorry to break the bad news.
Not trying to be a downer, just being realistic. Dont kill the messenger.

Me: Beginning of story? Been here before.....

piecesofme · November 2, 2012 12:01PM

Amazing people still think that comment wasn't tongue n cheek Miles. I expect more from you, I'm dissapointed.

derryb · November 2, 2012 12:36PM

It's quite simple - those that believe the long term outlook for metals is strong should hold/buy, those that don't should avoid/sell.

Justacommeman · November 2, 2012 12:42PM

<< Must I keep pounding the table? $32.50 is to $32 as $35.50 was to $35, a last gasp for air. After today, $31 is to $30 as $32.50 was to $32. It's a death march, end of story. >>

So is this statement "tongue and cheek" also? Just curious. MJ

jmski52 · November 2, 2012 12:57PM

"It will fluctuate". JP Morgan, about the stock market. Equally applicable to gold & silver (and platinum).

"They stab it with their steely knives, but they just can't kill the beast". The Eagles, Hotel California. Equally applicable to the gold and silver markets (and platinum).

MsMorrisine · November 2, 2012 1:07PM

it was fun while it lasted.

this was supposed to be because less of a need for QEternal.

When will they catch on to the debt load we will have to service once the economy picks up?

rock-hard place

Justacommeman · November 2, 2012 1:26PM

So today the following happens in conjunction with the jobs report

Gold @$1675
Silver @ $31.00
The Dow pulls back 130 pts.

The sky is falling. All is lost. It will never go back up.

The end

MJ

MilesWaits · November 3, 2012 1:28AM

POM: Done lost it about a year ago from my perspective. Only really been buying 2 things since...deals that are too good to pass up, or eye catchers like bars I've never seen before. I highly doubt silver will see $30 again if I live to be 90 (I'm 46). There might be one more once in a lifetime run in the next 45 years. Expecting anything else I feel is a happy place I just can't picture. Sorry, all jmho.

So, jmho or jahf (just a head fake) or jtic (just tongue in cheek)?? JW: Just wondering.

<< Silver aint ever gonna see $30 again, you (may have) heard it here first. Sorry to break the bad news.
Not trying to be a downer, just being realistic. Dont kill the messenger. >>

piecesofme · November 3, 2012 1:49AM

Silver never going to see $30 again comment...tongue n cheek sarcasm with a touch of disgust for those pounding the table at the time that if QE3 came it would hit new highs. Really, some of you took this seriously by me saying it wouldnt hit something that was only $2 away in the next 45 years...REALLY? You couldn't se the sarcasm in that? Really?

Silver on it's current death march...My honest to God gut feeling and can't see how it could be denied.

There it is, clarity for those of you who can't determine tongue n cheek vs. honest feelings. Hope it helps.
I wish there was a way for all of us to meet so you could actually meet me to see the look on my face when I say something. I guess I'm just the kind of person that is going to have to spell everything out for others to understand what, and HOW I say something.

piecesofme · November 3, 2012 1:57AM

And another thing, if you think $27 to $35 is a good move after QE-indefinite being implemented, you have very low expectations.

Pokermandude · November 3, 2012 3:58AM

<< There it is, clarity for those of you who can't determine tongue n cheek vs. honest feelings. Hope it helps.
I wish there was a way for all of us to meet so you could actually meet me to see the look on my face when I say something. I guess I'm just the kind of person that is going to have to spell everything out for others to understand what, and HOW I say something. >>

Agreed it is hard to pick up any implied sarcasm or "tongue in cheek" comments when they could easily be one's actual sentiments. That's what the winky or tongue poking out smiley faces are for.

FWIW, a good part of the frustration towards you on this board is due to others taking your previous comments at face value, then you defending yourself by saying that was just tongue in cheek or whatever. To us it just looks like backtracking.

Justacommeman · November 3, 2012 4:13AM

<< And another thing, if you think $27 to $35 is a good move after QE-indefinite being implemented, you have very low expectations. >>

A 30% move would be deemed a great move by most sane traders and stackers alike. You could make a fortune on that one move. MJ

Justacommeman · November 3, 2012 4:15AM

<< 

<< There it is, clarity for those of you who can't determine tongue n cheek vs. honest feelings. Hope it helps.
I wish there was a way for all of us to meet so you could actually meet me to see the look on my face when I say something. I guess I'm just the kind of person that is going to have to spell everything out for others to understand what, and HOW I say something. >>

Agreed it is hard to pick up any implied sarcasm or "tongue in cheek" comments when they could easily be one's actual sentiments. That's what the winky or tongue poking out smiley faces are for.

FWIW, a good part of the frustration towards you on this board is due to others taking your previous comments at face value, then you defending yourself by saying that was just tongue in cheek or whatever. To us it just looks like backtracking. >>

beep beep beep beep beep beep beep

MJ

$32** floor $35** ceiling?

Comments

$32 floor $35 ceiling?