Go Silver Go!

42.01 CAD

43.94 US Going to 44?

Couldn't stay away from the market...

Originally posted by jude11
42.01 CAD

43.94 US Going to 44?

Couldn't stay away from the market...

It will continue to rise until it meets with a 16:1 ratio with gold, which is somewhere around 100.

Of course, as gold goes higher due to the money printing, so too will silver's final top price.

The ratio comes from silvers naturally occurring ratio to gold in the Earth.

I suspect we could someday even see silver over-take gold because silver has more industrial uses than does the yellow metal.

It should at least be 16:1, but market pressures could force it higher.

Originally posted by mnemeth1

Originally posted by jude11
42.01 CAD

43.94 US Going to 44?

Couldn't stay away from the market...

It will continue to rise until it meets with a 16:1 ratio with gold, which is somewhere around 100.

Of course, as gold goes higher due to the money printing, so too will silver's final top price.

The ratio comes from silvers naturally occurring ratio to gold in the Earth.

I suspect we could someday even see silver over-take gold because silver has more industrial uses than does the yellow metal.

It should at least be 16:1, but market pressures could force it higher.

Interesting take on the market. Do you have any other info/links etc that would be useful to us here?

Thanks

This was a quick 10 min jump. Interesting. I wonder how close to my $45 prediction we'll get?

$CAD 42.24
+2.76%
$USD 44.17
+2.76%

Another sage offering from one of my favorite bloggers...gentleman Jesse. I recall posting on the drubbing I took during my first year as a wannabe stock trader, -$28,000 (demoralizing), so I always find it refreshing and supportive when a professional of Jesse's caliber takes the time to speak openly about his losses in an honest and unassuming manner.

Snip:

Most of the time it's an ego thing. Trying to recapture a golden moment when they were lucky and got it right. That's a tough addiction because you don't even see it; self-delusion is a powerful drug. But they talk down to everyone else, those other dumb sheeple, because that's how they get their kicks, on Route 66.

I was fortunate. I got really lucky once, selling out a huge long position around the top of the tech bubble, and then going short and riding it almost to the bottom. And I can definitely see where that might have gone to my head. But God in His tender mercy had the market just beat the living crap out of me for almost two years in the run up to the housing bubble, as I was incredulous that the Fed would keep such a obviously reckless behaviour going. And I was wrong. So my humility was assured.

And I learned from that, and am back ahead of the game. Every speculator has to go through this, the big hit, the bloody beating, and have their teeth handed to them, at some time or another, before they are well seasoned. The trick is to remain standing and not lose your entire stake, whether it be stocks or even cards. Life is a school of probabilities, and everyone must learn. Most traders lie and will never discuss their losses, but if they are any good, they are there.

But I know a lot of guys who made big bucks in the bubbles who fell in love with themselves, and have never shaken the need to succeed, the euphoria of winning, even yet. But most of them go broke one way or the other, either monetarily or morally. And when the going gets tough, they can get rather creepy. They are perfect, but they are not doing well, so someone must be out to get them, pulling them down. That never ends well. - Link

Getting defensive here. Closed some positions today (options/shares) and raised a little cash. As per last night, I'm remain cautious, not to mention a little uncomfortable with level of exuberance being displayed across the popular PM boards. I see we even added 3 new metals related threads here on ATS today. May still run higher, longer, but risk/reward no longer pencils-out for me at this price level. An interim correction to 39/40 would bring a healthy rest imo, and provide a reasonable entry for new blood.

*Not advice

GL

reply to post by OBE1


Got links to your other threads?

reply to post by mayabong


My humble apologies. Make that 2 new metals related threads, and 1 that was revived from March (new to me). If you can post a comment, I'm sure you're more than qualified to search 'em out mayabong.

GL

Getting defensive here. Closed some positions today (options/shares) and raised a little cash. As per last night, I'm remain cautious, not to mention a little uncomfortable with level of exuberance being displayed across the popular PM boards. I see we even added 3 new metals related threads here on ATS today. May still run higher, longer, but risk/reward no longer pencils-out for me at this price level. An interim correction to 39/40 would bring a healthy rest imo, and provide a reasonable entry for new blood.

*Not advice

GL

Yeah, your friend has a very good point in that it also happens in other aspects of our lives. 6ft tall and bullet proof. Had a case of that about 20 years ago in the tech era as well. Won't elaborate but can say that I got hammered so hard, it took me a year to get out of bed it seems.

As for today, it was definitely interesting. I sure hope that people didn't go out and sell the farm. Some of us holding physical forget 2 things:

1. Any excitement can be infectious to others looking to buy and that may be their downfall as it's not the right moment. I think the people in this thread know why I say that.

2. The physical holders getting excited forget that by the time they get their stash to market, the excitable gain could have fallen. That's why it's always good to hold a little paper that can be sold in a sec.

Anyways....fun day today!

Originally posted by jude11
2. The physical holders getting excited forget that by the time they get their stash to market, the excitable gain could have fallen.

Or risen.

Online dealers will lock-in their buy price with you over the phone, but by the time you have it packaged & shipped the market may have moved against you [up]. I dumped some shares, and 50% of my SLV options today - profitably. Bullion is a buy & long term hold imo. I wouldn't cut lose with even an ounce of at current prices. I don't advise buy, I don't advise sell, but some folks understandably need to raise cash from time to time, and each new high seems to be bringing ample supply to the secondary market...I checked ebay tonight...it's smokin'.

Like to see more people fess-up to their losses, mistakes made, lessons learned. I think that kind of honest information would be far more enlightening and valuable than all of the "I bought Silver at $3 and I'm making a killing!" tripe that gets posted.

Oh well, only in a perfect world I guess.

Cheers!

My friend that shorted silver a week ago just doubled up and shorted again to cover his losses. Didn't know what to say to him. I probably would have stayed away from it altogether at this uncertain point of time.

reply to post by mayabong


He must be sweating bullets mayabong. I almost pulled the trigger on May 41 puts yesterday myself. Looks like tonight's break above 44 squeezed the shorts to 44.30, backing off a bit now.

Ultimately, this will be a market investors can share with their grandchildren 'round the campfire, and if/when the mining sector catches a bid, literal fortunes will be made. Well, that's the plan anyway

GL

Originally posted by OBE1
reply to post by mayabong

 

He must be sweating bullets mayabong. I almost pulled the trigger on May 41 puts yesterday myself. Looks like tonight's break above 44 squeezed the shorts to 44.30, backing off a bit now.

Ultimately, this will be a market investors can share with their grandchildren 'round the campfire, and if/when the mining sector catches a bid, literal fortunes will be made. Well, that's the plan anyway

GL

And lost, let's not forget the fortunes lost.

On another note....

US 45.12

Cad 43.01

Bragging Rights Initiated

Wed AM: Silver up to $45.07 US, the US dollar down to 74.39.

At this point I am waiting for a dip to buy more physical. I am no expert; I just follow along the boards and like to see what others say. A lot of folks are saying that there will be a correction of 20%. I dunno but if that happens it would give me a chance to buy a little more....

things are moving to fast. all we can do is hold on. Silver now 45.24!

Im hearing wispers of china anouncing they will start dumping USD!

we all seen it coming! Keep moving people, just turn your TV's on and watch dancing with the stars

Interesting indeed:

news.silverseek.com...

$50 dollar silver is the first sign of blue sky after a devastating storm. It's the morning after sunshine bringing people out of hiding and together again for the process of rebuilding with the promise of a new start.

For more than 100 years the United States has been at the center of a war being waged around the clock by a cult-of-evil clawing and biting like a rabid dog at the heart of civilization. It has been an epic struggle of an outnumbered, outgunned regiment of courageous defenders of human individuality, dignity, and liberty against a tyranny intent on the enslavement of all humanity. It has been a bloody war, a costly war and even now the battles continue, but the tide is turning, finally, toward the side of good.

More:

news.silverseek.com...

Originally posted by jude11
And lost, let's not forget the fortunes lost.

When they coined the cliche A rising tide lifts all boats, they must have been referring to the leveraged miners. Really isn't that difficult to turn a buck in a bull market, and anybody can get lucky, but the big money as a resource investor never comes easy. As in any other field, except maybe investment banking success requires substantial dues in the form of time commitments, and hard work. A self education involving countless hours of research, coupled with the acquired ability to effectively manage portfolio risk. Beyond that, it's pretty much about timing, value, and one's personal determination.

Another popular cliche worth it's weight in Gold comes from Jesse Livermore. Simply: Be right and sit tight. Identify the trend - Gold 2002/2003 for example - enter positions with conviction, and most importantly, be willing to stay the course. A lot of scared money turned tail in 2008 (vicious 30% hit/G...60% hit/S)...today it wishes it hadn't. We're currently experiencing an historic divergence - PM performance vs the more speculative tiers in the mining sector. Not recommending anything here...just saying I see opportunity.

*Caveat Emptor: Not reliable investment advice.

I realise this thread attracts more investors than traders, but I thought I'd post Trader Dan's daily Silver commentary. I think he did a yeoman's job of detailing the trader's dilemma at current price levels. I think the reader's comments are worthy too.

Silver blows through Resistance at $44 - Wednesday, April 20, 2011

I try to sell into strength when possible, avoiding the greedy impulse to try and capture 100% of the move. Recently sold 50% of my July 44 calls purchased a 40, for a 107% profit...retrieved my basis. Probably sell the remaining 50% [10 contract bonus] tomorrow ahead of the long weekend. A little powder for the pullback....if we ever see one

GL

*Not advice

reply to post by OBE1


Good Info OBE1,

Yes, it's a little concerning right now as to this spike. I did call it tho.

After reading Trader Dan, I can see a little something through the lines that some of his other bloggers are not hearing or maybe not wanting to acknowledge. The complete destruction of the dollar. He hints at it but like all of us, this is a factor that none of us are experienced with as it's not something that has ever happened in our lifetimes.

Hate to say it but I believe that is exactly what will happen and it would be anyone's guess as to what will happen to physical in that scenario. Easy to foresee the paper as being washed tho. Truly a terrifying outcome for many.

I think a lot of people are turning to physical for this reason.

Where's my crystal ball....damn, it's broken.

Another interesting read:

silver-and-gold-prices.goldprice.org...

"Not much point discussing this, since y'all already know what I'm thinking. The gold price will reach at least the target from its inverse Head and Shoulders or $1,525, maybe $1,600. It's overbought some, but not like baby ducks at Easter time. We might get a correction lasting a couple of days, but then it will take off again, assuming it doesn't hit $1,525 before that. $1,502 in the aftermarket."

"Ask me if I'm whimpering? Y'all already know the answer. If stocks gain 900 points, silver will gain twice as much, gold about the same. I lust for stocks the way some people lust for a root canal or bypass surgery."

Silver eagles are being sold for $50 a peace on E-bay right now! I got 84 of those babies.

I just want to put them on the ground and roll around in them