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Go Silver Go!

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posted on May, 11 2011 @ 12:02 PM
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wow, thankgs are starting to get fun. we have are selfs another crash in silver today. there only screwing thereselfs with this. im just going to buy more silver for a cheaper price




posted on May, 11 2011 @ 12:10 PM
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Originally posted by camaro68ss
wow, thankgs are starting to get fun. we have are selfs another crash in silver today. there only screwing thereselfs with this. im just going to buy more silver for a cheaper price


Watching and waiting. Yes, I'll buy again.

Slow rise yesterday and a quick drop today...Curious.



posted on May, 11 2011 @ 12:14 PM
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These wild fluctuations were called months ago.

It means people are REALLY losing confidence in fiat currencies.

More and more instability, until *poof* .. there she blows!!!



posted on May, 11 2011 @ 12:24 PM
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Originally posted by camaro68ss
wow, thankgs are starting to get fun. we have are selfs another crash in silver today. there only screwing thereselfs with this. im just going to buy more silver for a cheaper price


ha dont buy in the short term. headed lower. so is oil. dollar is gonna rally. so long as we still have thhe world reserve currency and most powerful military....it will occassionally rally.. and rallys r quick and powerful they occur during risk off periods and qe ending [for now]....europe tumbling [for ever lol] and seasonality aw well as q's about how market will handle no fed treasury buying s c r e a m risk off, short the f outta oil,,,,short term



posted on May, 11 2011 @ 01:12 PM
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Crazy - silver is back down to $35.24 US. I expect the roller coaster ride isn't over yet, but these dips make it easier to buy.


The fact is that no one can predict with any accuracy what silver is doing on a short term basis. Here is what I think is a safe prediction, though: silver prices will continue to fluctuate all over the place for at least the next few months. There is just too much uncertainty over fuel prices, the US economy, the Federal Reserve & QE3, etc.

Eventually (as in 6 months to 2 years) however, one of two things will happen.
1) The US federal government will somehow get its stuff together, realize it can't keep spending money like a drunken sailor (and I apologize to drunken sailors everywhere for comparing them to the US Federal gov't...), and will finally get serious about cutting spending and getting its currency under control. I think this is the less likely of two scenarios, though not as unlikely as some folks think. I'd give this about a 40% likelihood. If they do this, you'll see a stronger US dollar and weaker PMs.
2) The US gov't doesn't smarten up its spending habits, the Fed goes ahead with QE3, and the US dollar goes into the toilet. Like I implied, I see this as somewhat more likely, but not an absolute given. If that happens, PMs will act as a wealth preserver and a hedge against inflation.

Even in scenario 2, I don't see silver skyrocketing to huge multiples of its current value, but merely continuing to hold its value against purchasing necessities. For example, if an ounce of silver buys you seven gallons of gas now, it will continue to do some two years from now, even if a gallon of gas or a McDonald's hamburger costs $15. I just don't believe in these predictions from some that you'll be able to buy a nice house with a 500-oz monster box of silver.

If you want to know what I think life will be like in scenario 2, check out some of the internet reports on life in Argentina during its currency crisis during the last ten years.
My advice to folks (and what I'm doing) is buying a little silver each payday for the foreseeable future. I'm putting money in other things. My thinking is that if we go into scenario 2, at least I'll have enough silver saved that I can buy essentials such as food or fuel during a currency crisis.
edit on 11-5-2011 by LS650 because: (no reason given)



posted on May, 11 2011 @ 01:45 PM
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Originally posted by LS650
Carzy - silver is back down to $35.24 US. I expect the roller coaster ride isn't over yet, but these dips make it easier to buy.


Fingers crossed,

Down baby down!



posted on May, 11 2011 @ 03:37 PM
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Interesting quote here. Seems to be right along with what some are saying.

www.gata.org...


Investing in precious metals means converting U.S. dollars, pounds, euros, etc., into hard money that can be manipulated in price but cannot be debased. Manipulation has its limits, and since it appears to have been happening in the gold and silver markets for decades, in one form or another, the unwinding that is now beginning will just get more intense with time. No matter what technical support levels they target and take out, the short sellers are not going to extricate themselves without paying big bucks. Knowledge of how the price suppression scheme operates is in the public domain, and it is highly unlikely that manipulators will succeed in shell-shocking markets with their shenanigans, nor suppressing prices, for any significant period of time.



posted on May, 11 2011 @ 05:25 PM
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reply to post by LS650
 





The fact is that no one can predict with any accuracy what silver is doing on a short term basis.


You're right about that, I give up.

Although I though silver would break the resistance at about 39.20 but it didn't. Probably going to 32ish now.

Hmm this throws a wrench on my JP morgan default timeline, Ill have to run some calculations and revise the date
edit on 11-5-2011 by Skerrako because: (no reason given)



posted on May, 11 2011 @ 08:05 PM
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reply to post by Skerrako
 


i see a dollar rally and past margin hikes takin silver down near its june 2010 lows or a tad higher. ie 20-22

gold will fair much better imo.

oil price target 70
edit on 11-5-2011 by cpdaman because: (no reason given)

edit on 11-5-2011 by cpdaman because: (no reason given)



posted on May, 11 2011 @ 09:46 PM
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reply to post by cpdaman
 


This guy sure thinks so:




posted on May, 11 2011 @ 09:55 PM
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reply to post by Skerrako
 


Dam I need those speedometer gauges like he has on my screen.



posted on May, 11 2011 @ 10:09 PM
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reply to post by mayabong
 


Totally off topic but:

Remember your old avatar of the old shriveled person? I just pictured her doing stock trading in an office!

Funny image, I laughed and almost shot water all over my computer!



posted on May, 11 2011 @ 10:34 PM
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I am playing next weeks ( EOW ) silver options ( when they price on Thursday / Friday ) :

Sell 1 May Wk3 38 Call

Buy 1 May Wk3 33 Call

* This is called a bear call spread *

In essence I make the most money when silver stays between these 2 values. Collect premium on selling the call and hopefully collect some money in the bottom side of this.

I am weary of getting called away in a massive positive reversal in Silver so I may just buy a put and buy a call.

It seems that we are going to have these 2 highs and lows for at least the next week. IMO, we are ending up in a big triangle consolidation here at the bottom and the move from this consolidation will be very big.

Unfortunately as of right now it seems it will go lower. I didn't see that coming, in my heart I see a positive reversal in Silver, but it just doesn't look like it is going to stack up that way. I wouldn't let your ego's get in the way of taking profits or small loses if you can now - that is if it is just a trade.


link to profile picture if it doesn't format correctly

Between these 2 lines is where I believe the price will consolidate in for some time.








Best wishes to everyone



posted on May, 12 2011 @ 08:01 PM
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Interesting move today. The gap low - then failed at the top of the gap - finished down. SLV was up about 80 cents after hours.

I have identified a couple of interesting things.

1 ) Since the beginning of this huge run last Sept. we are exactly at the 50 percent retracement ( shown in picture )

2 ) We violated the longer-term trendline earlier this afternoon (shown in yellow )

3 ) We have 1 more major trendline lining up a couple of dollars down from here ( shown in green )

At the top of the gap I bought a MAY 32 PUT around 2:00 pm today as I also believed the EURUSD was topping out. It expires in 8 days but I believe I got it at a good price ( .85 ) and I also believe that EURUSD has one more big move down before the end of next week.

Depending on what happens I will probably be selling my put back to the market and buying a high out of the money call if we get back to this other trendline identified in the chart. A high OTM Call is one that is much higher than the current price. So I will basically be buying it for very cheap and hoping I can at least accumulate some premium as I still can't call silver dead yet. Just a gut feeling that we are going to go higher still ( 50+ ) even though I am currently betting against it in the short term.









posted on May, 12 2011 @ 08:05 PM
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This is it guys, its over.

The boom is wrapping up.



posted on May, 12 2011 @ 08:08 PM
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reply to post by Partygirl
 


Cool, the fed stopped printing money?



posted on May, 12 2011 @ 08:59 PM
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Originally posted by mayabong
reply to post by Partygirl
 


Cool, the fed stopped printing money?

dollar-rallying
near-key-resistance
breaches-75.80-which-it-will-=big-slide
close-longs-nowwwwwww



posted on May, 12 2011 @ 09:01 PM
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reply to post by cpdaman
 


I'm long long long. Not sure if I'm ever closing my longs.



posted on May, 12 2011 @ 09:16 PM
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reply to post by mayabong
 


prepare-to-b-fleeced-within-weeks-at-most



posted on May, 12 2011 @ 09:17 PM
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reply to post by cpdaman
 


I don't get fleeced until I sell.




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