Go Silver Go!

reply to post by Surfrat


Way to copy and paste the NIA email lol. But it's a great read, if anyone likes getting inflation updates sign up at www.inflation.us

The debt bubble is driving Silver and Gold into bubbles of their own...
the debt bubble is the Titanic which equals more money then there actually is
they Silver and Gold bubbles have to go in opposite directions from the debt bubble...

till/ unless the system breaks down comletely...
then the value of a thing will be more immmediate and direct..

Interesting, but I don't think the fellow in the video actually owned SLV. He says he'd been paying storage fees on 5000 ounces of Silver since January 2003. SLV wasn't launched until 2006, and it clearly states in the prospectus that individual shareholders can't redeem shares for physical...only "Authorized Participants" (broker dealers) can make redemption's, and only in "creation baskets". A creation basket represents 50,000 shares (50,000 ounces). Nor do SLV shareholders pay storage fees...the trust pays the custodian, in this case that would be JPM.

If this man was indeed paying storage fees, then he was probably invested in an allocated Silver account like those offered by Kitco, Perth Mint etc...which would give him legal title to the physical, including the right to delivery upon request...or he could sue the custodians pants off. Morgan Stanley was forced to settle a similar lawsuit filed in 2005. Something doesn't quite add-up here.

Anyway, aside from the fact that one of the largest Silver shorts on the Comex is involved in the iShares ETF as custodian, there are other concerns making SLV an 'iffy' prospect for buy & hold investors imo. A great, liquid, short-term trading instrument, but for the long-haul, I go with physical.

Allocated/Unallocated Accounts

Morgan Stanley to settle class-action lawsuit

*Not investment advice.

reply to post by OBE1


i've been watching silver for a while and have bought some. I told my friend to buy it (he's like a stock trader) when it was 29 and he didn't listen. I told him at 34 and he didn't listen. Now at 41 bucks he decides to short it, telling me that its going back to 34 or something. He's just following the charts I guess, but doesn't understand the money printing thing and that this is a little different than the stock market. Is it not?

reply to post by mayabong

He's just following the charts I guess, but doesn't understand the money printing thing and that this is a little different than the stock market. Is it not?

Yes it is very different, one of my investment friends didn't understand this as well. You metion silver and they always say "oh metals markets are too volatile". and dismiss it.

I guess they dont believe in unique circumstances

reply to post by Skerrako

You know we're going to have to hear them whine later on, "Oh how was I supposed to know? Nobody was expecting this..." I even expect some family members to blame me for not telling forcing them to cash out of their stocks and go to the coin store with me.

Seriously, though. Did you all see the story on The University of Texas taking delivery of $1 billion physical gold? Things are getting weirder.

reply to post by AmethystSD


Holy crap thats crazy I hadn't heard of that yet! Check this out: Daryl Bradford saying that JP morgan will default on its silver contracts and will "walk away" with out paying. His guess is by september. Mine is by June third. please check my thread for the updates, I am paying very close attention to this situation. It's only a matter of weeks now

Yep the will say "nobody coulduve seen this coming" even though the signs are as clear as a supernova, people need to just look. I feel sad about it, that friends may not be able to eat. I hate to seem like the crazy guy that tells them to buy silver but eventually I hope they realize it was out of love

reply to post by mayabong


Hi mayabong. Funny, just today an investor buddy and I were discussing the dismal success we've had bringing family and friends into this market. I've been at this a while now, and I can still count the people in my life that own PM's on one hand. He recounted recommending a physical Gold/Silver allocation to a female acquaintance last year at considerably lower prices...a woman that was seeking informal investment advice. The next time he spoke with her, she said she mentioned it to her broker, and he said 'bad investment...no dividends'. My friend reminded her that brokers make their money off stock commissions...not precious metals - duh! When the best performing asset class is touted by financial "professionals" as being the worst....ya know somethings fishy. Well, she's out, and thanks to her broker, it's very doubtful she'll ever get in at current to higher prices.

I had a target of 42 to 44 on the last breakout from 38ish...we hit a high 41.97 then backed-off for a couple of sessions. Ideally, I would have prefered to see Silver churn and consolidate for a few more days, then break 42 with a full head of steam. Well, we got what we got but this market still feels like it wants to go higher here. With each new nominal high, our 30 year old technicals haven't proved very reliable (the spike to 49ish in 1980 was intraday), so I'm looking at round numbers, say 5 dollar increments for support/resistance. Next comes 44/45...then the potential for specs to begin fading 49/50, where we could definitely see some fear and profit taking imo. To what degree ? Will we finally correct 10%+, or simply pull back and consolidate for the next leg-up ? Odds say eventually they have to get it right, but this markets been eating top-callers for breakfast, lunch, and dinner.

I think you're right mayabong , fundamentally we're in uncharted waters, and technically we're practically flying blind...so the best we can do is speculate on near-term price movements, but longer-haul, we seem good to go...I mean, just look at poor old Uncle Buck....ultimately, that's where it's at imho.

GL

*Not to be construed as reliable investment advice.

I ordered some silver last week, so I am tapped out financially and won't be buying any more silver for at least a couple of weeks. Any predictions for the week ahead? I am looking at the Globex chart now: the price of silver is up 6 cents US to $43.30 US.

Originally posted by LS650
I ordered some silver last week, so I am tapped out financially and won't be buying any more silver for at least a couple of weeks. Any predictions for the week ahead? I am looking at the Globex chart now: the price of silver is up 6 cents US to $43.30 US.

Well, judging by the fact that it looks like we were all wrong last week and there was actually no dip worthy of paying attention to, I'm lost for words on this one.

By everyone's account and mine as well, we should have had a 3-4 dollar dip. Didn't happen and now it's still climbing.

As mentioned, I am by no means an expert and there many in this thread that have a lot more knowledge. We'll have to wait for them to weigh in on this. I can only state that I haven't been wrong in my own predictions but...

I started this thread to have conversations on silver, attract more knowledgeable people to come in and also as a beginners resource as well. Judging by all the great feedback, info, knowledge and advice that has been freely offered by everyone here, Mission Accomplished!

Thanks to all and Go Silver Go!

reply to post by OBE1


Thanks for your insight. I actually just bought my first oz of gold today. I figured you can't really go wrong with gold either. Its kinda crazy to be paying 1500 bucks for something that fits into the palm of your hand. At least when I got my shipment of 100 oz of silver it had some weight to it.

reply to post by jude11

I started this thread to have conversations on silver, attract more knowledgeable people to come in and also as a beginners resource as well. Judging by all the great feedback, info, knowledge and advice that has been freely offered by everyone here, Mission Accomplished!

I was just coming here to say about the same thing! This has become my favorite ATS thread, because we're all trying to figure out the same thing: What the hell is silver doing?

Normally we see it dip on Mondays, and when it doesn't most of the time we see a 4 or 5 day winning run. (hoping for that). But keep a lookout for more manipulation, like the million dollar put option we heard about last week. Not to toot my own horn but my predictions normally come through, but these damn bankers are doing anything not to let silver appreciate to it's full value. As the market weakens, more are jumping to silver. My general stocks dropped 10-20% today!, but silver made up the difference. I bet I won't be the only one noticing this either.

Originally posted by jude11
Well, judging by the fact that it looks like we were all wrong last week and there was actually no dip worthy of paying attention to, I'm lost for words on this one.

I [purposely] neglected to post a downside price objective for the pullback, but I did speculate on where it might occur.

April 4, the day Silver broke-above 38 after a week of sideways consolidation in the mid 37's.....

Originally posted by OBE1
Congratz Silver longs. New [3 decade] high @ 38.52. This, with the dollar firm, and crude under pressure. If oil can cooperate, and Gold manages to break-out of a 6 month consolidation pattern this week, we could see upside to 42-44 on this move.

From the breakout on the 4th, Silver continued to climb eventually printing an intraday high of 41.97 on April 10, then pulled-back to close @ 40.36. The next day, April 11, selling pressure continued, closing @ 40.04 with an intraday low of 39.72.

Missed the bottom of my target range [42.00] by 3 cents ....so sue me

High to low, a measly $2.25 correction across 2 trading sessions. Nary a speed-bump in today's market, at these prices. Just four years ago a 25 cent move across 2 sessions was considered hair-raising volatility

From the breakout on the 4th, Silver continued to climb eventually printing an intraday high of 41.97 on April 10, then pulled-back to close @ 40.36. The next day, April 11, selling pressure continued, closing @ 40.04 with an intraday low of 39.72.

Missed the bottom of my target range [42.00] by 3 cents ....so sue me

High to low, a measly $2.25 correction across 2 trading sessions. Nary a speed-bump in today's market, at these prices. Just four years ago a 25 cent move across 2 sessions was considered hair-raising volatility

Yup, looks like you were the closest to that one. It's sure been an interesting ride but last week was just plain weird!

I'm going to go out on a limb here and say that this week we will see hills and valleys of $3 this week. I am going to say $45 by either Fri close or Mon open.

But I am also going to say that I am intentionally not going to look at the market news whatsoever. I'm testing my gut instinct on this one.

Hey, sometimes that's all ya got right? Gotta trust the gut sometimes. I'll call it my own private game but...

If I'm right, I have bragging rights. If I'm wrong, at least with this market, I'll get a do-over! lol

lets get pension funds to invest more heavily in physical delivery of precious metals.

prices should fly up if that were to take hold.

Well goodonya jude! Only go around once, why not stick your neck out and make a bold call now and then (especially if you aren't trading it). It's kind of a game anyway, and should you miss, please know that you're already forgiven

I posted over the weekend that I was wanting to see Silver consolidate and re-energize for a few more days around last weeks low, before breaking a new high, but the market has a mind of it's own, and as they say, the market is always right. But with that in mind, this run is looking a little exhausted to me, lets see what happens.

GL

Originally posted by OBE1
Well goodonya jude! Only go around once, why not stick your neck out and make a bold call now and then (especially if you aren't trading it). It's kind of a game anyway, and should you miss, please know that you're already forgiven

I posted over the weekend that I was wanting to see Silver consolidate and re-energize for a few more days around last weeks low, before breaking a new high, but the market has a mind of it's own, and as they say, the market is always right. But with that in mind, this run is looking a little exhausted to me, lets see what happens.

GL

Oh, make no mistake. Not getting out of trading. Just a little experiment for this week. I figure it's a safe bet as I don't see a complete drop happening.

Still going with a slow but steady rise as I don't see a huge spike either.

What about you? Still buying or slowed down a bit?

Originally posted by jude11
What about you? Still buying or slowed down a bit?

Physical ?

I had transferred a frightening % of my liquid net worth into precious metals by 2006, so no jude, I don't purchase physical bullion as often as I used to, or in the quantities that acquired between 2003 - 2006. But I'm what they call a senior, retired from the work force for several years now, with plenty of time to trade...primarily SLV, GLD, Jr miners, along with oil and agriculture related stocks/ETF's. I find resource stocks and the commodities complex far more interesting than general equities/broads/major indices.

GL

Thought I'd put this here for analysis from you folks. Came up elsewhere but I have come to respect the opinions in this thread.

Interesting email I got today. These guys sure make it sound easy:

Why Swap Silver For Gold Now With the Gold SIlver Ratio at 34.47?


With gold silver ratio at 70:1, you buy 70 oz. of silver. Wise choice.

When the gold silver ratio hits 35:1, you swap 70 oz. of silver for TWO, not one,

ounces of gold. Twice as many as if you'd bought gold in first place.

No market, internet blowhards notwithstanding, shoots straight

to the moon. The gold silver ratio will see 47 or 50 before it sees 16,

although it will EVENTUALLY drop below 16.

Ratio will, internet blowhards notwithstanding, correct. Will correct

AT LEAST to where it fell out of long triangle at 47.5, maybe

50% of total fall from 84.3 to 35, so back to 59.65.

When ratio reaches 47.5, you swap your two oz. of gold for

95 oz. of silver. You now have 25 more oz (35.7%) than if

you had just lain around in silver the whole time.

Then you do it again when the ratio falls again.