Silver spiking today.

Weiss · November 28, 2005 3:26AM

HonoluluDude · November 28, 2005 3:40AM

Way overbought. Waiting for the blow off top, then a descent back down to the $7.50-$7.70 area. That would be a screaming buy point IMO.

cladking · November 28, 2005 3:51AM

<< Way overbought. Waiting for the blow off top, then a descent back down to the $7.50-$7.70 area. That would be a screaming buy point IMO. >>

This is a logical analysis and prediction so is probably the best bet but one of these days silver is going to act very illogically for a while. Maltus said someday people would starve because people reproduce geometrically and food supply increases arithmatically. Silver uses have been increasing geometrically while supplies have been decreasing geometrically. With costs of production soaring, very little price resistance among buyers, and some doubt about the ability to bring new silver to market at some point there will be a reckoning.

HonoluluDude · November 28, 2005 4:02AM

<< 

<< Way overbought. Waiting for the blow off top, then a descent back down to the $7.50-$7.70 area. That would be a screaming buy point IMO. >>

Silver uses have been increasing geometrically while supplies have been decreasing geometrically. With costs of production soaring, very little price resistance among buyers, and some doubt about the ability to bring new silver to market at some point there will be a reckoning. >>

I agree with everything you said, but I think we're still early in the game.

cullenbryant · November 28, 2005 4:09AM

<< That would be a screaming buy point IMO >>

this is getting interesting. I'm sure not going to do any selling
has anybody looked to see if physical silver is actually being purchased
at over 8 on ebay or other.

HonoluluDude · November 28, 2005 4:16AM

<< 

<< That would be a screaming buy point IMO >>

this is getting interesting. I'm sure not going to do any selling
has anybody looked to see if physical silver is actually being purchased
at over 8 on ebay or other. >>

I got some Engelhard rounds for less than spot a few weeks ago.
I'm not sure everybody is buying into this bull market. There's still a wall of worry out there.

Deadhorse · November 28, 2005 4:32AM

Local dealers in Houston, at least some of them, are paying around $8 on Englehard and J&M bars only. Other .999 brands are being discounted at 50+ cents back of spot.

Melt coins are lagging well behind their usual multiplier which indicates some softness for these prices.

There is nearly always a run up heading into early December. I'd expect some selling off to the point of $7.60 to $7.75 by mid to late December. It's a cyclical thing, the only difference is the numbers are higher than last year, and the year before, etc.

First full week of December I expect near $8.50 silver and $500+ gold. Not the time to be a buyer.

HonoluluDude · November 28, 2005 4:43AM

<< 
First full week of December I expect near $8.50 silver and $500+ gold. Not the time to be a buyer. >>

My thinking exactly. Why buy now, when you can get in cheaper if you wait just a few more weeks?

291fifth · November 28, 2005 4:55AM

Platinum is at $986. Has it been higher at any time in recent years?

Deadhorse · November 28, 2005 9:37AM

<< Platinum is at $986. Has it been higher at any time in recent years? >>

This is an all time high, from what I can gather through historical charts. There was a spike up to about $940 in April of '04, other than that, it's been a slow and steady climb.

I don't own much at all, just a couple of one ounce coins. I always thought it was so high to start with that even with nice gains, the % would be less than gold or silver.

xbob · November 28, 2005 10:31AM

Silver uses have been increasing geometrically while supplies have been decreasing geometrically.

My guess was that the global decrease in traditional (chemical) photography was going to significantly lower silver usage.

Anybody know what the increased usage of silver is? I do not, but I am interested.

Deadhorse · November 28, 2005 11:06AM

<< Silver uses have been increasing geometrically while supplies have been decreasing geometrically.

My guess was that the global decrease in traditional (chemical) photography was going to significantly lower silver usage.

Anybody know what the increased usage of silver is? I do not, but I am interested. >>

Photography usage hasn't fallen as far down as many suspected for starters. 3rd world countries are just now getting into traditional/old fashioned photography.

Medical usage is up and going to continue doing so. Silver has some amazing anti-bacterial properties, research there is ongoing.

IT usage is growing and promises to continue. Then you have the conductivity issues, super conductivity research is another factor. I've heard of a few things coming technology wise and silver plays an important role.

Then there's always that jewelry thing. As long as usage outstrips production, there will have to be an increased need which translates into increased prices.

Other than jewelry, when silver is used in many applications it's actually used. As in used up, no recoverability as there is with gold, platinum, etc.

If only a small percentage of the people holding paper silver asked for physical delivery, we'd see a Hunt brothers type explosion fairly quickly.
Why do you think that Warren Buffet demanded physical delivery, as did Bill Gates?

xbob · November 28, 2005 11:37AM

Thanks Deadhorse. Very informative. I am glad that my meager silver holdings are all in physical form. (coins and medals/rounds)

HonoluluDude · December 1, 2005 3:34AM

Holy crappola, silver up another 24 cents. Ho-hum.

Bull market? What bull market?

JJM · December 1, 2005 6:05AM

metals ARE doing well as of late!

HonoluluDude · January 25, 2006 12:58AM

Silver break out today. Next stop: $10

topstuf · January 25, 2006 1:05AM

By all logical reasoning, it ....should..... correct down soon.

BUT...........

If/when the ETF gets up and running.....................all bets off!
ETF preparations in progress

HonoluluDude · January 25, 2006 1:24AM

<< By all logical reasoning, it ....should..... correct down soon.

BUT...........

If/when the ETF gets up and running.....................all bets off!
ETF preparations in progress >>

Corrections have been shallow, dip buying aggressive. I think the gold and silver shorts are losing big time.

topstuf · January 25, 2006 1:37AM

<< I think the gold and silver shorts are losing big time. >>

Nope. They're just "setting us up."

To own the world.....

RedTiger · January 25, 2006 1:55AM

<< By all logical reasoning, it ....should..... correct down soon.

BUT...........

If/when the ETF gets up and running.....................all bets off!
ETF preparations in progress >>

The ETF will make it relatively easy for the average investor to put some serious money into silver. The demand created by the ETF buying could mean "lift off" for silver. The kind of thing that feeds on itself. The ETF demands spikes the price higher, creating more demand for the ETF, further lifting the price of silver.

The five year chart looks bullish to my eyes. There is support at $8, so downside is 15% from today's $9.43. As to upside, I would not be surprised to see silver over $20. As to when, well, they say give them price or time, but not both

BlindedByEgo · January 25, 2006 2:12AM

It's always fascinating to me the way that we look at metals prices.

Adjusted for inflation - the same inflation that makes a $0.75 loaf of bread in 1982 cost $2.50 today - precious metals are cheap.

We read thing like "Gold at XX years high"... Suuure, as long as you don't discount for inflation.

Anybody here think inflation - real inflation - is gonna stop anytime soon? A couple more (maybe) quarter point upticks in the Federal Funds rate?

Meanwhile, the Fed continues increasing the money suppy aggresively- maintaining liquidity

so that we can all support our consumer lifestyle economy with cheap home equity loans against paper profits..

If a promoter did this it might be called what? A Ponzi scheme? What's the endgame? Anybody?

Can my house price double? And double again? In 7 more years?

How 'bout wages - I wonder if they can keep up?

Can you say hyperinflation?

I'm no gold bug - I still own equities, real property, some paper. But I sure love hard assets - today, all the more.

HonoluluDude · January 25, 2006 2:16AM

Upside breakout alert

HonoluluDude · January 25, 2006 3:33AM

ask $9.48

Bonafide breakout!

fishcooker · January 25, 2006 3:43AM

WE THEREFORE COME DOWN OFF THE FENCE DECISIVELY AND EXPECT A MAJOR UPSIDE BREAKOUT BY SILVER VERY SOON.

Well, they don't win the award for most controversial call....

HonoluluDude · January 25, 2006 3:56AM

<< WE THEREFORE COME DOWN OFF THE FENCE DECISIVELY AND EXPECT A MAJOR UPSIDE BREAKOUT BY SILVER VERY SOON.

Well, they don't win the award for most controversial call.... >>

More like the 'TELL US SOMETHING WE DON'T ALREADY KNOW' call.

topstuf · January 25, 2006 9:06AM

But the stuff is so .....HEAVY..... I moved some today. My ...GOD.... I'm too old for silver. I think bad goldbugs go to silver HELL! Still had a box of 500 rounds that I couldn't get to the top of the pile. An that's only 38 pounds.
Phooey.
I useta toss bags around the shop like ping pong balls.

AValde · January 26, 2006 2:07AM

Silver ETF - pending approval - 21 days public hearing

HonoluluDude · January 28, 2006 10:52AM

$11.87

HonoluluDude · February 24, 2006 3:56AM

Spot silver just had a Viagra moment.

CaptHenway · February 24, 2006 4:19AM

That's what we call a Loch Ness curve, up and down and up and down and then all of a sudden the head and neck sticking up out of the water!!!!!
LOL
TD

MrKelso · February 24, 2006 6:02AM

You Gotta Love it.

tincup · February 24, 2006 7:50AM

Man, that is quite a spike at the very end of the trading day......! Will this push over $10 this round?

HonoluluDude · March 2, 2006 1:34AM

Silver trying for the magical $10 barrier again.

MORGANHUNTER2 · March 2, 2006 1:42AM

I see it that in the morning she opens at $10.03 and runs up to 10.23 and closes at 10.05.

HonoluluDude · March 21, 2006 2:24AM

Whoa, a spike to $10.50. My crystal ball sez $11 soon.

cladking · March 21, 2006 3:28AM

<< Whoa, a spike to $10.50. My crystal ball sez $11 soon. >>

Buy on the rumor, sell on the news. Look for increased volatility in a fast move to $12.

AgMe · March 21, 2006 3:46AM

Between the ETF here and the UK, I wouldn't be surprised to see Silver at $20+ USD very soon (maybe even by next week).

It should be interesting... once the regular man notices.

coynclecter · March 21, 2006 3:47AM

The silver ETF was just approved. Thier initial purchase plan equates to 130 million ounces. The entire Comdex supply.

AgMe · March 21, 2006 3:48AM

<< The silver ETF was just approved. Thier initial purchase plan equates to 130 million ounces. The entire Comdex supply. >>

Insane, isn't it? Could Silver be the new gold?

HonoluluDude · March 21, 2006 3:49AM

<< 

<< Whoa, a spike to $10.50. My crystal ball sez $11 soon. >>

Buy on the rumor, sell on the news. Look for increased volatility in a fast move to $12. >>

I'm not selling til we hit $50 resistance.

I think $15 by the end of the year isn't out of the question.

HonoluluDude · March 21, 2006 3:51AM

<< The silver ETF was just approved. Thier initial purchase plan equates to 130 million ounces. The entire Comdex supply. >>

Rumor has it that Warren Buffet is gonna lease his entire 130 million ounces to Barclays.
Sounds like B.S. to me, but FWIW.

coynclecter · March 21, 2006 4:00AM

<< Rumor has it that Warren Buffet is gonna lease his entire 130 million ounces to Barclays. >>

If he does that the price doesn't change, if he forces them to buy, then the price shoots up.

I don't think he ever leaves money on the table.

AgMe · March 21, 2006 4:15AM

<< 

<< Rumor has it that Warren Buffet is gonna lease his entire 130 million ounces to Barclays. >>

If he does that the price doesn't change, if he forces them to buy, then the price shoots up.

I don't think he ever leaves money on the table. >>

I agree, why not just sell 50 million toz or less, make them pay!

HonoluluDude · March 23, 2006 1:59AM

whoa nellie. another spike!

HonoluluDude · April 13, 2006 3:34AM

Silver train chugging along today... ALL ABOARD!

Bear · April 13, 2006 3:41AM

I am gonna buy a single silver dime today........

I hope that doesnt tie up too much of my

investment money,

thebestMAX · April 13, 2006 3:47AM

I was going to sell some common date Unc Morgans but now I think I will just hold them to see what happens with silver.

Didnt really want to sell in the $25 range anyway.

BlindedByEgo · April 13, 2006 3:54AM

<< Way overbought. Waiting for the blow off top, then a descent back down to the $7.50-$7.70 area. That would be a screaming buy point IMO. >>

With physical demand outstripping production and a production cost of $8 to $8.50, I fail to see the logic in this statement.

Bear · April 13, 2006 4:53AM

Let your silver ride, dont sell

untill it hits 4.75 an ounce....again.

7over8 · April 13, 2006 5:03AM

Forget even seeing 10 again Lulu Dude. If you haven't stocked up for the ride, you've missed the boat.

7over8 · April 13, 2006 5:07AM

Cant believe all of you "sheeple" buying into that traditional Wall St mentality that Gold/Silver have hit the top and are extremely overbought.......dont listen to that BS.....next stop $675 Gold and $16 silver.
They are just trying to hold the Equity markets together - we are in for a big tumble on the major indexes later this year...
You can't hide inflation for long, or the growth of 10% per annum in the money supply to contain it.

Silver spiking today.

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