plove
Hired Hand
Posts: 227
|
Post by plove on Sept 23, 2011 20:06:01 GMT -5
Silver is a steal at $30 the ounce.
|
|
|
Post by looter on Sept 24, 2011 3:04:59 GMT -5
Silver is a steal at $30 the ounce. It's a bigger steal at $20/oz.
|
|
|
Post by Dave-ECIA on Sept 24, 2011 8:13:58 GMT -5
I'm a buyer at $25. Have held this short since $44. Looks to me like we will test some long term support before this is over.
|
|
|
Post by thirsty on Sept 24, 2011 9:03:16 GMT -5
Just goes to show how desperate the bullion banks are...
Options expiry and triple witching next week, gold was up in Asia friday morning. The only time the metals get cornholed is in New York between the hours of 7 am and 12 noon, usually on thursday/firday before expiry, so they don't get outside interference in 'their' price suppression scheme. I would need a massive calculator to count the times I have pulled up kitco at six in the morning MST to see the metals dumped en masse already an hour earlier. In a market that trades round the world 24 hours a day you simply do not see the asians, indians, middle easterners, and/or europeans sell gold like in New York.
With that said I am thinking that $30 an ounce silver might be worth a buy.... if you can find the physical. ;D
|
|
|
Post by thirsty on Sept 24, 2011 10:13:53 GMT -5
I forgot, the whole metal's complex got hit with margin hikes on Friday. This after getting cornholed already on Thursday. I imagine a shwackload of contracts will expire worthless once the 'invisible hand' of the market guides the yellow dog under $1600 on Monday/Tuesday with more news of hyper-deflationary explosions and agit-prop detailing how gold cannot be eaten (neither can Fed Reserve notes but that is another story altogether) and people should trust in govt for price stability and such related unreality. www.zerohedge.com/news/case-closed-cme-hikes-gold-silver-copper-margins
|
|
|
Post by looter on Sept 25, 2011 4:07:51 GMT -5
Just goes to show how desperate the bullion banks are... Options expiry and triple witching next week, gold was up in Asia friday morning. The only time the metals get cornholed is in New York between the hours of 7 am and 12 noon, usually on thursday/firday before expiry, so they don't get outside interference in 'their' price suppression scheme. I would need a massive calculator to count the times I have pulled up kitco at six in the morning MST to see the metals dumped en masse already an hour earlier. In a market that trades round the world 24 hours a day you simply do not see the asians, indians, middle easterners, and/or europeans sell gold like in New York. With that said I am thinking that $30 an ounce silver might be worth a buy.... if you can find the physical. ;D Yup. Metal beatings happen at 5:20 am MST. Trade around the clock, but get pounded like an Asian hooker at that moment when the New Yorkers decide its time. Always thought that was weird....
|
|
|
Post by Dave-ECIA on Sept 25, 2011 9:44:53 GMT -5
I forgot, the whole metal's complex got hit with margin hikes on Friday. This after getting cornholed already on Thursday. I imagine a shwackload of contracts will expire worthless once the 'invisible hand' of the market guides the yellow dog under $1600 on Monday/Tuesday with more news of hyper-deflationary explosions and agit-prop detailing how gold cannot be eaten (neither can Fed Reserve notes but that is another story altogether) and people should trust in govt for price stability and such related unreality. www.zerohedge.com/news/case-closed-cme-hikes-gold-silver-copper-marginsI'm sure that gives us an indication of how leveraged the market is right now. I talked to a broker on Friday that said that many of his clients had to liquidate positions to cover the new margins. He thought new money would not flow back in, just settle in at the new (lower) position levels. In effect, the market just squeezed out those positions not backed with cash. Interesting.
|
|
|
Post by Dave-ECIA on Sept 25, 2011 10:01:02 GMT -5
BTW, I see this as another step in the slow march to 100% cash backed positions to get the little speculators out of the market. The big boys don't like it when the kids piss in their pool.
|
|
|
Post by Dave-ECIA on Sept 26, 2011 8:08:57 GMT -5
PLove..... We went smoking past 30, hit 26 overnight.
What say you now??
|
|
|
Post by thirsty on Sept 26, 2011 10:23:14 GMT -5
Shanghai upped their margin requirements this morning. I could go on a fifty page rant on govt manipulation and how the cftc let's the big commercial shorts a good review of long positions and how extremely leveraged they are-but these are known knowns and they shouldn't surprise anybody. I hope these longs who just got their ass and head handed to them don't come back, they are just as fraudulent as the big commercial shorts short ten months global production with a couple days in the warehouse. If this carries through options expiry than there is a case for deflation, myself I believe this to be nothing short of desperation on the part of the manipulators due in part to the fact that they still can't find Ghadaffi's gold.
|
|
|
Post by Dave-ECIA on Sept 26, 2011 10:54:05 GMT -5
Hmmm, Hunt Brothers all over again??
BTW, I doubt they will find his gold. Just like we've never found the lost city of gold in Central America, it may not exist.
|
|
plove
Hired Hand
Posts: 227
|
Post by plove on Sept 26, 2011 21:51:43 GMT -5
dave-ECIA ... are you still waiting on $25 silver? Grab silver at any price is my advice. The Bernankinks will print dollars until silver is selling for $300 the ounce. Probably sometime next year.
|
|
|
Post by Dave-ECIA on Sept 26, 2011 22:46:18 GMT -5
Unloaded the shorts today. Didn't hit my buy point so I'm sitting on the sidelines until the direction clarifies again.
|
|
|
Post by looter on Sept 27, 2011 4:14:39 GMT -5
Nice bounce in the metals tonight.....
Crude imports way down lately.
|
|
|
Post by looter on Sept 27, 2011 4:35:34 GMT -5
|
|