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Silver smackdown commencing

GOLDZILLA

Harvurd Koleej Jeenyus
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#1
Looks like people are trading out of paper silver and paper gold and into paper platinum today.
 

917601

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#2
Funny you should point this out,I just was involved in a heated discussion on how stupid I was for buying 1 ounce PCGS MS70 DCAMs Platinum Eagles in '08, I am still trying to figure out how I was so stupid.Can anyone help me out?
 

GOLDZILLA

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#3
Funny you should point this out,I just was involved in a heated discussion on how stupid I was for buying 1 ounce PCGS MS70 DCAMs Platinum Eagles in '08, I am still trying to figure out how I was so stupid.Can anyone help me out?
I'm not saying that you are stupid (because I got one of those too) but this is supposedly only because of a platinum miners strike and will supposedly be short lived.
 

Irons

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#5
Looks like people are trading out of paper silver and paper gold and into paper platinum today.
White gold goes up a couple bucks and its a rally? :hmmmm2:
 

GOLDZILLA

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#6
So long as you never need to sell them, I'm sure they'll do good for you.
 
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#7
I wonder if this is a sign of a QE3 announcement tomorrow. Maybe someone knows something we don't. We all know it's coming, just don't know when...
 

917601

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#8
I wonder if this is a sign of a QE3 announcement tomorrow. Maybe someone knows something we don't. We all know it's coming, just don't know when...
Maybe, but do not those type of announcements happen on Friday, after 4 PM?
 

Argentium

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#12
White gold goes up a couple bucks and its a rally? :hmmmm2:
Amazin', ain't it? ;) Worthy of separate threads for each dollar rise! Just funnin' ya HS.:D
 

Silver Art

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#13
It would not surprise to me to see it fall further from here. If tomorrow's "QE3 Announcement" is "worse than expected", then it could fall further to possibly the $30-$31 range and stay there for a while before it makes another leg down and possibly retest the $26 support level. This is just a WAG.
 

orovicino

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#14
White gold goes up a couple bucks and its a rally? :hmmmm2:
:banana:It's the anticipation for "open ended QE3" Time to go all in.

But if not get out before the smack down, so be carefull.

JMHO that QE3 will not be anounced tomorrow, therefore I sold all silver today, and am anticipating a smack down tomorrow, and a reentry point in a week or two.:cool1:
 

southfork

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#15
It would not surprise to me to see it fall further from here. If tomorrow's "QE3 Announcement" is "worse than expected", then it could fall further to possibly the $30-$31 range and stay there for a while before it makes another leg down and possibly retest the $26 support level. This is just a WAG.
Odd silver goes down over a buck for no reason at all isn't it?? This was done in advance of FOMC tomorrow to temper the wild QE coming into play by the Bernake. He has been ordered to announce a QE to support Obamas faltering poll numbers, I will wager you a one ounce art bar QE comes tomorrow.
 

Silver Art

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#16
Odd silver goes down over a buck for no reason at all isn't it?? This was done in advance of FOMC tomorrow to temper the wild QE coming into play by the Bernake. He has been ordered to announce a QE to support Obamas faltering poll numbers, I will wager you a one ounce art bar QE comes tomorrow.
I cannot bet against you (or anybody else) because I got out of the Internet betting business on December 31, 2011 and besides, I do not want to see you lose a silver art bar in a "betting accident". :)
 

Silver Art

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#18
Ya gotsta see it through the eyes of a Silverista! Remember also, smack downs are purely manipulation. :cool:
Yep and each time silver gets smacked down, then everyone can thank JPM for giving everyone here on GIM2 another opportunity to buy silver at these artificial low prices. :)
 

savvydon

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#19
Ya gotsta see it through the eyes of a Silverista! Remember also, smack downs are purely manipulation. :cool:
I'm pretty new around these parts and a lot smaller fish than some swimming around these waters, but is there any other way to see silver falling over a dollar in less than ten minutes out of the clear blue than as some sort of intentional concerted effort on the part of a market maker?
 
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#20
I'm pretty new around these parts and a lot smaller fish than some swimming around these waters, but is there any other way to see silver falling over a dollar in less than ten minutes out of the clear blue than as some sort of intentional concerted effort on the part of a market maker?
I hate answering a question with a question but I will. Would you believe any answer that varied from what you want to believe?
 

savvydon

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#21
I hate answering a question with a question but I will. Would you believe any answer that varied from what you want to believe?
Well, I know better than to expect answers to just come falling from the sky, but what I really want to believe in is reality. I think it is a reasonable course of action for an individual to make inferences about how things work based on available evidence. The available evidence part is where things get kind of slippery. Once upon a time the available evidence pointed towards a flat earth. I am just trying to get my bearings here before the barrel I'm floating in goes over the edge...:p
 
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#22
Well, I know better than to expect answers to just come falling from the sky, but what I really want to believe in is reality. I think it is a reasonable course of action for an individual to make inferences about how things work based on available evidence. The available evidence part is where things get kind of slippery. Once upon a time the available evidence pointed towards a flat earth. I am just trying to get my bearings here before the barrel I'm floating in goes over the edge...:p
Play the market for what it is. IF you are truly "savvy", you will do fine. :cool1:
 

southfork

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#23
I'm pretty new around these parts and a lot smaller fish than some swimming around these waters, but is there any other way to see silver falling over a dollar in less than ten minutes out of the clear blue than as some sort of intentional concerted effort on the part of a market maker?
Isnt it odd silver strugles to go up a buck but can be tanked 5 or 6 bucks in a day like last year, no reasoning behind it, this was a Bernake event pure and simple.
 

savvydon

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#24
Play the market for what it is. IF you are truly "savvy", you will do fine. :cool1:
Fair enough. "savvy" is just a bunch of letters typed in row and has zero bearing on my true coordinates. If I was looking for real meaning from a GIM2 name I probably would have done better with 'nimrod'. Just the same, I don't 'play' the market much, I am just basically try to accumulate as I can, and have faith that I will indeed 'do fine. :beerglass:
 
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#25
Fair enough. "savvy" is just a bunch of letters typed in row and has zero bearing on my true coordinates. If I was looking for real meaning from a GIM2 name I probably would have done better with 'nimrod'. Just the same, I don't 'play' the market much, I am just basically try to accumulate as I can, and have faith that I will indeed 'do fine. :beerglass:
Buy dips, NOT rallies. IGNORE the pumpers. That is the BEST free advice you will ever get, IMHO. :cool1:
 

Irons

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#26
Well, I know better than to expect answers to just come falling from the sky, but what I really want to believe in is reality. I think it is a reasonable course of action for an individual to make inferences about how things work based on available evidence. The available evidence part is where things get kind of slippery. Once upon a time the available evidence pointed towards a flat earth. I am just trying to get my bearings here before the barrel I'm floating in goes over the edge...:p
Silver can and does do price rockets and free falls for no particular reason, which is why I hate it. Or love it. Whatever.

I'm still mad at silver from 2008, I may get over it. Might.

Like the really, really hot party girl silver can give you one hell of an evening! :w00t:

And then you wake up broke in an alley with a social disease. :vollkommenauf:

Buying silver is a great way to get into the precious metals way of life, buy it on the dips and decide if you want to go for high premium stuff like eagles of stack pounds of generic mint bars and rounds.

If you get into it and enjoy it you will move on to whatever grabs your interest. Do your research and you will do just fine. :thumbs_up:
 

Chester-Copperpot

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#27
There's some great advice on this forum, just don't believe the hype that you'll read on a weekly basis. Every week some "Expert" will claim silver is going to hit $60, and climb from there. They'll tell great stories about banking firms collapsing, and show fancy charts. Just do your own homework, and you'll do fine.
 

savvydon

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#29
Why can't it be as simple as this?



Could it be that the people bought in at $27 and started selling at $34?
It certainly could be. It is just that silver had been dancing all around 33 for a few days so it doesn't make sense to me that there are suddenly a bunch of stops in there that make it plunge like a stone in no time flat.
 

Silver Buck

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#32
It certainly could be. It is just that silver had been dancing all around 33 for a few days so it doesn't make sense to me that there are suddenly a bunch of stops in there that make it plunge like a stone in no time flat.
Silver touched $34. That may have been enough to trigger folks take some profit. Price starts to go down, stops are hit, more is sold.

In total, it dropped a buck and a half, and then climbed back 75 cents.

What's the big deal?
 
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#33
Silver touched $34. That may have been enough to trigger folks take some profit. Price starts to go down, stops are hit, more is sold.

In total, it dropped a buck and a half, and then climbed back 75 cents.

What's the big deal?
The manipulation story appeals to more folks. :rolleyes:
 

plata_oro

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#35
26-28 was THE entry point. now the chartists are buying.

Agreed. I personally believe the Fed will say it that it will be "highly likely" they will act on an open ended QE by the end of the year. If they don't, oh well. Nobody in the real world is buying US Treasuries, they are buying gold. Case and point Pimco's Bill Gross a long time bond bull has suddenly changed his outlook: http://www.bloomberg.com/video/gros...than-bonds-stocks-67gICY2RTwy3MytiYpX8jg.html

I don't think that there will be many more days like today. It is to my understanding that CFTC has ruled that JPM and HSBC must exit their short positions this month. I believe today might very well be the banking cabal's last hoorah if not many to follow. I think if we see another -$4-5 day (like last year) you will see people buying physical on a scale the banksters didn't see comin'. $26.50 won't be breached unless there is some sort of unforeseen deflationary event. If it is breached (by the shorts) silver mining will become unprofitable and there will be severe supply shortages and then the real fireworks will begin!
 

GOLDZILLA

Harvurd Koleej Jeenyus
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#36
:hmmmm2:I think that people dumped silver and gold and put it into platinum because of the platinum miners strike. Hopefully they will realize a nice gain just before the strike ends, and then they will put it back into silver and gold !
 

Jodster

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#37
Agreed. I personally believe the Fed will say it that it will be "highly likely" they will act on an open ended QE by the end of the year. If they don't, oh well. Nobody in the real world is buying US Treasuries, they are buying gold. Case and point Pimco's Bill Gross a long time bond bull has suddenly changed his outlook: http://www.bloomberg.com/video/gros...than-bonds-stocks-67gICY2RTwy3MytiYpX8jg.html

I don't think that there will be many more days like today. It is to my understanding that CFTC has ruled that JPM and HSBC must exit their short positions this month. I believe today might very well be the banking cabal's last hoorah if not many to follow. I think if we see another -$4-5 day (like last year) you will see people buying physical on a scale the banksters didn't see comin'. $26.50 won't be breached unless there is some sort of unforeseen deflationary event. If it is breached (by the shorts) silver mining will become unprofitable and there will be severe supply shortages and then the real fireworks will begin!
If we truly drop below $26 there will be reams of people dropping their dry powder, like myself. Anything that can be purchased and delivered below $28/oz is a bargain. The rally will have it's pullback but it's still a bull market for Silver. I personally, wouldn't mind another opportunity to back up the truck. $30/oz is just as likely as $28 these days...
 

Unca Walt

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#39
I have a question for the savvy crowd here:

The entities that were shorting silver to hold the price down...

How long would they have before they had to actually hand over bars of silver to the folks they owe?
 

Silver Art

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#40
It would not surprise to me to see it fall further from here. If tomorrow's "QE3 Announcement" is "worse than expected", then it could fall further to possibly the $30-$31 range and stay there for a while before it makes another leg down and possibly retest the $26 support level. This is just a WAG.
Obviously this turned out to be wrong since they did announce QE3. Oh well..............................
 
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