Damnit ... silver

[cordoncordon]

Good insight, you are probably right. Silver did plow through $29. I just flipped an 1885 morgan dollar to see if it's going to plow through $30 next!

EDIT: I just love that ringing sound of silver.

And just fell back into the $27 range in an hour. Both gold and silver look VERY overbought to me short term. RSI's on both are through the roof. Long term the general trend should remain up.

 

[highconscienceness]

It's broken the $25 an ounce mark. I was saying buy it when it was $12 an ounce....nobody listens.

Mark my words. Silver is going to keep going up and up and up.

Why? Because we devour more silver than we mine. Simple economics. We eat more than we grow.

It is really that simple. Man can not create silver, we must mine it. Yet, we consume more than we mine...what does that say to you?

Folks will listen when silver is $100 an ounce.

HA! Try gold!


Silver and Gold are going up because dollar is going down the toilet. A-hole-team is D.C. is destroying the greenback. You're not making money by buying gold or silver though, you nearly preserving the value of your money, which is great. Try this site www.infowars.com look at ads, there is a good deal on gold there, and listen to radio show, they have commercials on good deals on gold, plus you'll know what's really going on.

 

[Kailex]

Yep, it got beat up between 1 and 2... expected.
Like cordon said, general trend will be upwards though.

It's been a little nerve-racking trying to keep with all the incoming news from all over.

PM's going crazy, phantom missiles, USA getting knocked down a peg on credit rating, amongst other things... it's nuts today.

 

[Mr.Positive]

And just fell back into the $27 range in an hour. Both gold and silver look VERY overbought to me short term. RSI's on both are through the roof. Long term the general trend should remain up.

It sure did! It was a high today of $29.38, now it is $27.94. Maybe I should stop flipping that silver coin.

 

[Quiksilver]

Now is a good time to buy in if you're interested... It will push through $30 in it's next climb.

We'll probably see a 1-3 days of lower prices and then back up.

 

[Mr.Positive]

Now is a good time to buy in if you're interested... It will push through $30 in it's next climb.

We'll probably see a 1-3 days of lower prices and then back up.

You sure called it, silver took a nice dive today. I think it may be a good time to buy as well.

Here's a video that supports your $30 target.

http://www.youtube.com/watch?v=KGpi1gxtAOY&

 

[Perry]

what exactly are you guys buying? stocks, actual real life sliver or both? if its a stock, which ones are good?

 

[Vice]

what exactly are you guys buying? stocks, actual real life sliver or both? if its a stock, which ones are good?

I've started buying stock ticker SLV, but that's only because I'm a beginner in the stock market. I realized the potential of silver and bugged the hell out of my dad to invest my $6000 that I had in his brokerage account into silver when it was $18.50/oz.

I ended up opening my own account and investing for myself. I only have $1000 in it, but I put $700 per month into it, so that along with the growth of silver should see me passing the original $6000 at the very LEAST in 5-6 months, assuming silver slows down a little.

I've been trying to get other people to become aware of what the hell is going on with the economy, but most people don't care or don't get it.

 

[Mr.Positive]

I've been trying to get other people to become aware of what the hell is going on with the economy, but most people don't care or don't get it.

I am sure glad you, and other young folks are getting it. Gives us hope for the future.

 

[Vice]

Ugh, it's fizzled out a little. Bought SLV at 25.90, regret it now that it's at $24.90. I only lost $35 though. Bought at the top of the market.

I don't know much about stocks; what are some good books to read to get the basics and to understand the terms?

I'll still be buying silver ETF's, but ready to cash out as soon as I start seeing the mainstream media pumping up silver as an investment.

 

[Quiksilver]

Yeah, I think this is the effects of the beginning of QE2 hitting the market. After doing a bit of reading it might stay down for a little while longer.

I'm no expert, but at the same time I'm not concerned because QE2 is only delaying the inevitable.

There will only be a true recovery if the manufacturing base is brought back to the American economy and you stop outsourcing jobs to China/India/Brazil/Eastern Europe/Mexico.

If you see that begin to happen, then I would start to be cautious about investing in PMs. Until then, it's a very safe investment; just look at the 1 to 20 year trend, not the week to week one.

 

[Vice]

I am sure glad you, and other young folks are getting it. Gives us hope for the future.

Thank you.

Unfortunately, I am the only person my age that I know that is into this stuff. I only know one other guy, and he's in a different state than I am, and we've never met in person.

I figure it's cool though, I'll eventually run into someone my age, and I won't let my deepening shallowness dictate whether or not I want to be their friend.

I've noticed that when I talk about money, people listen. I can captivate an audience. It's so strange.

////// WARNING UNPROFESSIONAL OPINION //////

And back on topic, SLV is at $27.17, and with my VERY limited knowledge, I THINK that silver, being volatile, will drop down again like it has been in the past few months. I'm thinking about selling and buying again when it gets cheap.

SLV seems like a double edged sword, or like an old school MiG; controlling instability.

////// END UNPROFESSIONAL OPINION //////

 

[Kailex]

Vice, I still see Silver going up eventually.
The anomaly that we saw last week was probably due to the Euro mess. What happened could NOT have been predicted at all. I had no clue the European ordeal with Ireland would cause the dollar to strengthen.

But who are we kidding, it's a temporary fix.

I really hope you only have physical silver though.

And don't think of it as a $35 loss. It'll go back up again, just give it some time.

Gold was less than $300 in the year 2000, and we all know what it's at now. PM's will always be on the up and up as long as we are a services based economy.

 

[Quiksilver]

Industrial demand for silver will keep the price on a steady long-term positive trend regardless of what happens with the equity markets.

There was a correction for close to a week, but that was just a normal one-step-back event. As you can see it did not fall below $25, in fact it didn't even fall below $26.

Now it's up near $28 again and will push through $30 before the next correction.

Next correction it may drop back down to $28-30, then back up.

 

[Vice]

Vice, I still see Silver going up eventually.
The anomaly that we saw last week was probably due to the Euro mess. What happened could NOT have been predicted at all. I had no clue the European ordeal with Ireland would cause the dollar to strengthen.

But who are we kidding, it's a temporary fix.

I really hope you only have physical silver though.

And don't think of it as a $35 loss. It'll go back up again, just give it some time.

Gold was less than $300 in the year 2000, and we all know what it's at now. PM's will always be on the up and up as long as we are a services based economy.

I don't have physical silver; all ETFs at this point. I know the risks of holding paper silver.

Industrial demand for silver will keep the price on a steady long-term positive trend regardless of what happens with the equity markets.

There was a correction for close to a week, but that was just a normal one-step-back event. As you can see it did not fall below $25, in fact it didn't even fall below $26.

Now it's up near $28 again and will push through $30 before the next correction.

Next correction it may drop back down to $28-30, then back up.

Very true.

How do you know about this though? I read the articles on silverseek and make some decisions based on that, but I would like to learn how to make better, more informed decisions instead of basing most of my logic on someone elses writing.

 

[Bible_Belt]

http://goldmoney.com/charts.html?cn=1000-840-12-0&ca=1+Year+Silver+Chart+in+USD


You guys are crazy to buy into this high right now, but good for you if you owned it through the breakout. I don't think I would necessarily sell right here, but I think we have completed Elliot wave 5 of the breakout and are due for sideways consolidation, if not a drop.

My very simple chart-reading system is to buy into sideways consolidation just off a new high on an up trend. It works on any time frame...except of course when it doesn't, and that is what stop-losses are for. After a giant leap up like we have just seen, it is much safer to enter a long position after the price goes sideways, establishing itself at a new level. That demonstrates the strength for the next jump up.

 

[OzyBoy]

Sounds like easy money. I might look into it.

 

[Hikapo]

http://www.zerohedge.com/article/chr...e-manipulation

Interview with Ted Butler: The End of Silver Price Manipulation

2010 has been an exceptional year for silver. The price has increased over 50% to-date, and the CFTC (the US commodity regulatory body) issued a statement last month admitting that the market price of silver may have been (and still may be) fraudulently manipulated. An investigation is underway.

Ted Butler is one of the pre-eminent commentators on the silver market. In addition to his decades following the metal, he's spent years raising suspicions about silver’s suppression by a few large banks taking on egregiously large short positions. The current CFTC action is a direct result of Ted’s activism.

In the podcast below, I conducted an in-depth interview with Ted focusing on the most important aspects that anyone interested in silver needs to know now. In short, Ted predicts the imminent end to the manipulation will ultimately send the price higher - much higher.

The podcast covers:

* Why silver has such a compelling value story
* The coming silver supply crunch
* The argument behind the allegations of silver price manipulation
* Drivers behind the recent price action in silver
* Why price volatility will increase
* The expected outcome of the CFTC’s investigation and why Ted thinks it will be "a bombshell for the silver market"

 

[Julius_Seizeher]

Technical Analysis has no bearing on PM prices, and I personally think it's voodoo bullsh!t, period. Fundamentals trump TA every single time, without exception. TA, like other forms of statistical analysis, can be manipulated to say whatever you want it to.

And the prices of commodities, including precious metals, are being driven by macroeconomic fundamentals, not retail investor sentiment lol.

I am 100% invested in commodity verticals (miners). Gold, Silver, Copper, Uranium, REEs, Potash...I love my commodities, because they have a healthy and organic demand base, which will only grow in-step with economic recovery and the growth of emerging economies.

*Miners represent the lionshare of my retail holdings. My retirement portfolio is more diversified (though I hate that word).

 

[Vice]

Hikapo, I've got a "page not found" on that link.

JP Morgan has over a dozen lawsuits regarding their manipulation of the silver market, though, so when you get the fixed link, this should be interesting.