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Silver $21 where from here

Discussion in 'Gold Silver (All things Metal)' started by ttazzman, Sep 22, 2010.



  1. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

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  2. GoldWampum

    GoldWampum Midas Member Midas Member

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    I don't think it has quite reached breakout.

    silvah 100923.jpg
     
  3. GoldWampum

    GoldWampum Midas Member Midas Member

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    As to where's it headed if it breaks out? 25.
     
  4. GodspeedMetals

    GodspeedMetals Gold Member Gold Chaser

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    I agree GW but really interesting to say the least.

    I see 22 n' change and then a healthy SMACKDOWN to 19 next month. But I'm totally talking out of my arse. We say this all the time, "Give me one last shot at buying at these prices". For me, I'm hoping the prices go below 19 before the WCC coin and stamp show next month!!!
     
  5. GoldWampum

    GoldWampum Midas Member Midas Member

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    Last time I bought it was 11 and change with fees. But if we see a nice opportunity... maybe more.

    It is interesting no doubt... and the next historic level after breakout looks to be 25. Of course I was just cautioning that while it's almost reached that last high, not quite yet... could happen anytime though.
     
  6. dosman

    dosman Silver Member Silver Miner

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    w00t w00t this rally is awesome. every day is like christmas
     
  7. GodspeedMetals

    GodspeedMetals Gold Member Gold Chaser

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    Amen ( ! ) to that Dos. I certainly sleep better at night - I can only imagine what a crackhead wreck I'd be if I were in paper.
     
  8. dmaddox

    dmaddox Seeker Seeker

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    Yall dont see a drop in prices once the elections in November are completed?
     
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  9. GoldWampum

    GoldWampum Midas Member Midas Member

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    Quite possible. Some of this surge is bound to be nervous tension. It's driven by humans afterall. I think we approach 25 before than though.
     
  10. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

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    chartwise it looks like 21 is a real pressure point...silver appears to be technically overbought.....last time we were at 21 and technically overbought we retraced to 9...............yes everyday is like christmas.......but it is going to be intresting the next few wks since this seems to be a key level......just tossin this out for thoughts and discussion......and i agree it feels like either 25 or a smackdown to the last consolodation in the 18 range
     
    Last edited: Sep 22, 2010
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  11. 97guns

    97guns Gold Member Gold Chaser

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    $50 is the next stop
     
  12. andial

    andial Sir Midas Member Site Supporter ++

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    25 dollar Silver and $1,300 Gold are the next targets.
     
  13. SNICKLE 1980

    SNICKLE 1980 Seeker Seeker

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    i'll see that amen and raise you a hallelujah. it's good to be out of that. granted, if we see another djia crash, i'll try and pick a bottom again with some spare change, but right now i have about 900.00 sitting on the sidelines waiting alongside my latest snag at 19...or was it 20? i think it was 19. like i always say...30 years from now, what's a dollar? my biggest worry is wondering whether to grab a fractional or wait for a silver correction. i'm leaning towards to the correction, but then again, this IS the holliday runnup. decisions...glad they arent the tough ones this year!
     
  14. JayDubya

    JayDubya Platinum Bling Platinum Bling

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    Just a few minutes ago I left this reply in another thread, it applies here as well.

    Okay, obviously I like PMs, I mean afterall, Im a member of this forum. There's not too many people who hate PMs or dont believe in them that are members of PM forums, right? So having said that, I think there's no doubt this thing is set up for a correction.

    Leonard Kaplan, president of Prospector Asset Management said "I'm bullish like crazy,” “There is nowhere else money can go. Does gold deserve to be here? Absolutely not. Is it a bubble? Absolutely. Will it go higher? Absolutely. “Gold is going up because people are buying it. And people are buying it because it’s going up. It’s momentum play.” I tend to agree with most of what he says, I especially agree with the last part. I'm not so sure that technicals are so strong as to be driving gold & silver higher right now, momentum is playing a huge part. Although Im not so sure I'd agree with him when he says it's a bubble.

    Anyway, I do believe a correction is overdue. I'm not the greatest of analysts so dont put too much faith in what I say but I wouldnt be surprised to see silver fall back to the high 17s and gold to somewhere near 1100. After that, then I think it may be onward and upward with typical seasonality kicking in.
     
  15. ToBeSelfEvident

    ToBeSelfEvident Gold Member Gold Chaser

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    It was $21 a couple years ago on the eve of the Bear Stearns collapse. $21 silver is what CAUSED the collapse of Bear Stearns and nearly caused the collapse of Western banking. Bear Stearns was losing control of its massive silver short position and after years of suppression, the price of silver threatened to explode up to $50 overnight, exposing the weakness of the fiat dollar and sending investors flocking to PMs.

    So Wall Street teetered and tried to right itself. Insolvent banks were cured with fairy tale accounting, JP Morgan got to wear the silver shorts, the Fed backstopped $10-$20 trillion of trash paper, and systems were devised to conceal widespread monetization of Treasury debt.

    The collapse got papered over but Main Street knew nothing was really fixed. In a sense we're back to Oct 2008 with the cartel possibly losing control of PMs again. The difference now is, there are millions more fully awake. PMs are in strong hands all across the world. If they crashed the price to $9 tomorrow, there would still be no physical silver available for under $20.
     
  16. GodspeedMetals

    GodspeedMetals Gold Member Gold Chaser

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    Thanks for the info JayDub.

    Everyone... please... repeat after me: "The spot price is PAPER gold". We are getting a deal for physical PMs by using the spot price AND leveraging ourselves by getting the real thing while there are tons of IOUs piling up in the market exchanges.

    The word "bubble" gets thrown around a lot these days (and for good reason). But anyone who has followed gold for the last 12 - 15 years and watched the price of gold drop faster to the floor than their jaw will see this upward "correction" serves as a little bit of justice long overdue. If the dollar has lost 95% or 98% value since 1913 or whatever negative value they want to state, and we see deficits, toxic debts, lost jobs and industry, a criminal government, etc... how can someone with a rational head believe gold is in a bubble right now? Makes no sense. If gold reaches $3,000 an ounce... then I'd start listening to bubble talk. Kaplan said he's "bullish like crazy," and then he says "it's a bubble"??? Was he drunk?

    Perhaps he's referring to a larger number of speculators playing the paper market now, which leads to increased (and erratic) volatility in the months to come. Of course a correction will come - just like the sun rises tomorrow morning.

    From hereon... until I see my coin dealer wanting to dump all his gold and silver at near spot, I'll keep thinking we have a long ways to go.
     
  17. Irons

    Irons Deep Sixed Site Supporter Mother Lode

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    $14-$15 on the next dip.
     
  18. AgShaman

    AgShaman Seeker Seeker

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    Location:
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    I hope it gets destroyed along with gold and crashes into the low teens.

    Of course maybe it's a stock market crash that only has the power to bring this event. Perhaps like dmaddox says, once the Nov. elections are finalized....then it could get interesting. I know alot would not agree with this sentiment, but I wouldn't be bothered if some serious manipulation gave the precious a serious beat down for a couple more years. Now that I'm hoping it will crash.....it's likely it won't (isn't that typically how it works?)

    Sorry for the negativity....I guess personal greed finds a way to creep in sometimes and I just want to hoard as much as possible for the long haul.

    Curiosity will not kill this Cat!
     
  19. GOLD DUCK

    GOLD DUCK Mother Lode Found Mother Lode

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    QWAK,I expect a smack down too! :thumbs_up:

    I would like a "LAST CHANCE" to get some "JUNK" SILVER at more reasnable $$$ curent 15+ X face makes me a little CRAZY :10_1_19: :confused_ma: even KNOWING :alberteinstein: what is coming! :idea: :23_30_104: :banana:

    For me the REAL QUESTION is --- "Should I spend the $$$ on SILVER or other LARGE PREPS that would HELP MORE geting over the HARD TIMES that MUST also come with a major global FIAT curency CRASH? :questionmark: :dontknow:

    Many things will no longer be avalable AFTER the CRASH :452: :signs14: as companies shut down and every thing either STOPS or slows down in the extream.:alberteinstein:

    Back in the 30s as the CRASH was hapening --- to rase CASH people sold brand new cars and other equipment for pennies on the dollar and I expect to see that hapen agen.:alberteinstein: :yes:

    I expect 2011 to be a very "Alace in Wonder Land" year :banana: :36_1_25: :confused_ma: and perhaps for a SHORT time -- $$$ CASH will BUY several X what it curenty does -- just befor the $$$ becomes totaly WORTHLESS! :ahhhhh: :vollkommenauf:

    Just PONDERING out loud :alberteinstein: and WATCHING for now. :2:

    To be honist I am suprised and feel BLESSED :shine: :36_3_13: to be in the situation :23_30_104: that I actualy HAVE $$$ I have to :dontknow: WONDER about HOW to SPEND! :congrats:

    Just about all my life I had to wonder HOW to get $$$ to BUY what I had to have for my IMEDIATE SURVIVAL -- this is a very new experience for me!:alberteinstein:

    the DUCK :15_1_70v:
     
  20. Ag Age

    Ag Age New Member

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    I expect $17 soon, if it falls below $15 I will be buying more physical. I think gold will hold around $1100. With silver over $20 you know the profit takers will be out in force.
     
  21. dosman

    dosman Silver Member Silver Miner

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    gold up AGAIN with a strengthened dollar. me wonders why miners aren't exploding?
     
  22. dmaddox

    dmaddox Seeker Seeker

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    I am going to horde some frn's and wait till after the elections. I beleive the prices are rising because of the uncertainty of the elections. Once Finanlized hopefully a split governement will stop the spending. Once certainty comes back in the fear will subside, and the prices of the precious will go down. I am hoping for the low double digits on the silver precious, and low 900 for the gold precious. We will see.
     
  23. anywoundedduck

    anywoundedduck Gold Member Gold Chaser

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    The miners are coiled springs, that are ready to explode. There are many reasons as to why they haven't yet exploded, (think criminal activity, Bear Stearns, JPMorgan, etc).

    The fuse is lit, and not likely to go out, no matter what the Banksters do, IMHO. Last chance to get in at these low prices.:fisheye:
     
  24. dosman

    dosman Silver Member Silver Miner

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    could you elaborate on the criminal activity bit? I am heavy in barrick, kinross and pal. should i be concerned?
     
  25. dmaddox

    dmaddox Seeker Seeker

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    I think he is talking about the criminal activity of the Banksters and not the mining companies. I think people are waiting to see if this PM prices are a bubble or not. November IMO is a critical moment in time. If Dems keep the congress then all hell is going to break loose and the precious is going to the moon. If the Reps get congress back and actually do what they say they are going to do, then I expect a huge pull back.

    A lot of ifs, but time will tell.
     
  26. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

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    I am pretty settled in my position right now so I havent been watching the PM stocks.....but its been my past experience that if the miners dont move to confirm the spot price ....then the spot price wont hold up...so i would consider it a negative if the stocks are not confirming the spot move.....
     
  27. dosman

    dosman Silver Member Silver Miner

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    They are definitely confirming the spot move, but not to an "explosive degree".

    Just like yesterday, they have reversed their losses and are trading up again intra-day. feels good man
     
  28. anywoundedduck

    anywoundedduck Gold Member Gold Chaser

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    You are right about the Bankster activity on the COMEX, but I am also talking about the Bankster activity on the stock markets throughout the world. Naked shorting, massive computer sale orders, being pulled before they can be executed, and other criminal tactics, all to hold the price of these stocks down. There is also bribing of particular board members to fudge quarterly reports, withhold resource reports, and other means to hold down the price of these stocks. (If you don't think that is going on, I have a bridge to sell you)

    AND BARRICK HAS LIED SO MANY TIME ABOUT THEIR HEDGE BOOKS, IT WOULD BE THE LAST GOLD STOCK I WOULD OWN. IN MY OPINION.

    As far as the elections affecting the price of gold, I don't think it matters what party wins. One is as bad as the other. Pandora's box has been opened, and PMs are going up, regardless of the election outcome.

    AWD
     
  29. GodspeedMetals

    GodspeedMetals Gold Member Gold Chaser

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    just when you thought silver was poised for a SMACKDOWN and teetering 20.99 / 21.00 per oz... it pops back up to $21.21 at this moment.

    truth reasserts itself when doubted.
     
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  30. Fullpower

    Fullpower Seeker Seeker

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    Silver IS getting ready for a gut wrenching elevator drop to 15 dollars per.....Mid January, 2011.
    That is your cue. If you can FIND metal at that moment, buy it ALL.
     
  31. GodspeedMetals

    GodspeedMetals Gold Member Gold Chaser

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    Fullpower, where's your intel on $15 silver early next year? Can you share? Would like to hear it! thanks.
     
  32. GOLD DUCK

    GOLD DUCK Mother Lode Found Mother Lode

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    QWAK,When SILVER goes in the DUMPSTER :ahhhhh::confused_ma:-- it is TIME to go DUMPSTER DIVING :congrats: :23_30_104:-- been in a DUMPSTER or TWO :yes: and once you get passed the SMELL:vollkommenauf: -- some times I find TREASURES! :2:

    They already have a "DUMSTER SONG" :)

    http://www.youtube.com/watch?v=NcDsct1fijI&feature=related



    the DUCK :15_1_70v:
     
  33. ToBeSelfEvident

    ToBeSelfEvident Gold Member Gold Chaser

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    Lots of wishful thinking on this thread. A split Congress will stop spending? I guess the wars will end on Nov 10th and SocSec will be dissolved by Christmas. Don't hold your breath.

    And for those waiting for ONE LAST CHANCE TO BACK UP THE TRUCK? I think you are underestimating the market. We are in a massive ACCUMULATION phase. $21 spot is not going to shake loose profit-takers, and $15 spot is not going to make people surrender and sell. Buy physical while you can and don't worry about the price. When the music stops, it won't matter what you paid for it.
     
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  34. dosman

    dosman Silver Member Silver Miner

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    Hmmm. I'm finding the miner performance extremely concerning right now. The USDX is ****ed. Gold is up again. The only thing working against gold right now is the stock market rally today, but barrick is down...
     
  35. silverwood

    silverwood Silver Member Silver Miner

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    I have been noticing that the miners don't seem to be acting in a bullish manner. It appears that each advance is being sold. Now the conspicy vein in me says that desperate bullion banks who are getting killed on their short metal position will do drastic things to stem PM investor bullishness. It just might be that physical metal is in tight supply for them so they attack paper metal miner shares and try and create negative divergence buy selling down the share price.
     
  36. dosman

    dosman Silver Member Silver Miner

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    Perhaps you're right. One would think them to be the best performing stocks.
     
  37. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

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    we need some sideways action to stabalize the overbought condition.......i noticed today cnbc had people on talking up PMs.....and that scares me.....looks like a setup for the momentum pigs to get slaughtered to me.....i certainly hope not i like these levels......yah never know though if the shorts get caught this could go semi-parabolic
     
  38. andial

    andial Sir Midas Member Site Supporter ++

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    I liquidated all my PM stocks a couple of days ago after significant gains. Maybe others are doing the same right now. I am looking for a five percent or less drop then I'm back in.
     
  39. Hi Ho Silver

    Hi Ho Silver Seeker Seeker

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    Just bought another MONSTER.......$11,000...glad I got it! I own them at 7500 8000 9000 10000 and now 11000

    YEEEEEEEEEEEEHAWWWWWWWWWWWW!
     
  40. SNICKLE 1980

    SNICKLE 1980 Seeker Seeker

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    if i had a rather sharp sword and went at your boxes, chopping them into 10ths and grabbed one of those chunks, i'd have about that much and i'd still say YEEEHAW! not that i would...it would make a hell of a racket with the silver and bits of green plastic flying everywhere, sticking to the sword and whatnot. i actually doubt i'd get through the front door before i heard the shot... i need some sleep , but after that it's off to the dealer for another fractional box. it's been a while since a snagged an entire tube. it seems like insanity at 21.40+ but with a long enough timeline, it should all work out. i'm thinking those wolves will arive soon too.
     

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