Just a heads-up - you know how our Fed & JPM friends work - if there's any excuse to $hit all over our parade (bear in mind at the same time that the US$'s getting hammered from more sides than ever before - not just in terms of domestic economic woes but on intl currency markets) they will. That's why I'm thinking that over the weekend since the price of metals has risen after yesterday - and with FOMC due tonight - they might use all the chatter / cover to mount a spectacular raid on silver & gold whilst markets are closed... as they do. It's only a gut feeling - brought on by my familiarity with their tactics of old - but thought it was worth sharing. x ps - Remember - stack the smack, don't chase a rising price...
I'd say we can have another price increase Friday, possibly even breaching $1,800, before some profit taking occurs.
See VRS, I just don't get how this sort of post does anyone any favours? Silver at present is already borderline parabolic less than 45 degrees, and some 84 or so on the RSI, yet there is talk of a smack down as if a big manipulation threat is imminent. Swap any other tradeable commodity or paper asset with the last few months of TA that silver has and you wouldn't hear a bleat. It would be due for one mighty correction, expected and no one would question it. Talk silver and the whole world and their armies are circulating and conspiring. I know it was probably meant a little tongue in cheek but I do think silver stackers are there own worse enemies most of the time. Oh and yeh I am a little sore that my long wait for the antelope and snake haven't seen them released at around $26 even $28 ! I'm not over it yet!! (crawls back to crying in his tea)
Hey upandaway, if we didn't have our conspiracy theories we'd just be a bunch of coin collectors! If there is no conspiracy how do you explain me still being poor! It is a conspiracy!
VSR has a good point......we have only seen it "once" go up into the 40's in the last 12 -18 months......and everytime we've had a glimmer of hope that there mght be a "real" vertical tarjectory.....spot has ended up getting a good pummelling......its a nice game to watch...sitting on the edge of your seats....i always end up reminding myself of AUSPM's memorable line......cost average.....get in on the dips....bit at a time.....and ride the rocket!!!!...but all the excitement thats being built up over people's expectations that we are imminently going to see a big vertical.....that just will not happen at the moment....there isnt enough bad stuff aligning with the markets and global economies.....at the present the majority of folk are super happy that that now have another window of opportunity with spending some printed cash...we havent seen the shit hit yet.....or the mega-fear that could sppok the market....i suspect there is relative calm that will give light to a bit of a smack down in the price of gold and silver in the next week or so..IMHO....but even if i am wrong.....it wont be any significant massive price dips or rises...perhaps what we've gained in the last 2 weeks...IMHO..relative up and down hold pattern for the next month or so...(i think i've had one or two wines too many)....anyway its the beginning of the weekend............!!!!
Phuck I love this forum the minute Ag rises it's up up and away, look Dorethy I can see the moon and then you get the smack crowd come in with "that god dam Jamie Dimon and his big wack stick" If you havn't read this yet have a read of it, there was a lot of shit going on last night. Dan knows his this stuff but still remember it's only September we've still got the US elections to get through and don't forget that Gold will be a Teir one asset come 1-1-2013, still a long way to go on this baby. The genral walk about crowd still havn't got a clue as to what's going on so wait till they try to get in. I'll stick my neck out and say there 's still some good stacking time left, but the drums are getting so loud it's hard to think straight. http://kingworldnews.com/kingworldn..._Wave_Of_Short_Covering_In_Gold_&_Silver.html
*upandaway I think you missed my point a bit mate. One of the things we're inclined to do as active traders is second guess the market based on our experience of past events - so when a situation occurs where all the conditions are ripe for an event to happen it's natural to feel that ol' deja-vu - especially where metal shorts are concerned. Added to this we're going thru a period of unprecedented challenge to US$'s dominance as primary reserve currency - which as you know is supported artificially by the suppression of prices of the pm's we're all interested in. We may not be able to compete with the major banks but we should always keep tabs on what they're doing, plan accordingly & profit from it where possible. It's a fact that when the pos & pog trip a level - a few days ago that was clearly US$34/oz for silver - and it took off US$1.12 in less than a minute - the Fed calls up its mates JPM, HSBC, the ECB and BoE and they trigger a paper contract sell-off - sometimes not successful, but mostly resulting in a dive in pm prices. Use the info - it can save or make you some money if you look out and try to recognise the patterns. One thing's for sure - and that's that the paper pyramid can't continue - neither can these levels of debt be sustained - the US alone owes around $75 trillion* - that's aside from the total outstanding 'value' ascribed to derivatives in all their forms, which is another $70+ trilion on top... these numbers are truly mind-boggling when you think about it... there is absolutely no way they can ever be written off or paid-down... even by creating unlimited currency out of thin air - so you'll understand that the process of trying to do that in itself builds-in - and necessarily requires deceit, corruption and manipulation - or as some call it 'creative capitalism' - by way of deregulation, unaccountability and deeply opaque practices. (That US$70 trillion translates to US$500,000 of debt for each & every household in the US btw) Now we have 'open ended liquidity' at least until 2015 (and beyond) - not only from the US Fed but from the ECB too... You have to ask yourself the question why, if the dire macro picture could be addressed and 'fixed' somehow, nothing constructive's been or is being done - and the answer is - there is no solution - things have gone too far now. The truth is ever since currency became detached from gold & silver those in charge of the global economy have conjured up 'money' out of thin air, without limit or control. What you're seeing now, as Mike Moloney put it this week - was the event horizon for fiat currency - from last Thursday, there is no turning back. I'm therefore expecting pm's to rise parabolically to the major currencies as they devalue & dilute themselves into oblivion... but I'm also expecting the usual crooksters to try to draw the process out as long as they possibly can - which inevitably means complicit manipulation, deception and corruption on the grandest of scales... *Annual World trade value 2011-12 is approx US$18 trillion, if that puts things in perspective (Source: http://www.wto.org/english/news_e/pres12_e/pr658_e.htm )
I think a lot of people will be left behind with this rise. It will correct eventually but, high 20's and low 30's will be looked back on with envy.
To emphasise the scale of the mess, the blithe ignorance of the markets drunk on hopium and how the incomptence & greed of central banks in cahoots with consecutive administrations across the World still directs the opinion of the herd - four years to the exact day after the Lehmans collapse which precipitated the 2008 'crisis': http://www.marketwatch.com/Story/story/print?guid=A16C9C0E-FDB6-11E1-BAF9-002128049AD6 "Just take the rationale given for the market's huge rally on Thursday. In essence, we're told, the market rallied because the Federal Reserve concluded that the economy is in such horrible shape that it must be put on even more remedial life support. Got that? Far from seeing any irony in any of this, however, many investors have evidently decided that happy days are here again. With the Dow Jones Industrial Average (DJIJIA) now a couple of thousand points higher than where it stood when Lehman Brothers went belly-up, many investors are commemorating the fourth anniversary of that bankruptcy by telling themselves that any Lehman-like danger has passed. If only. Remember the London Whale? If nothing else, the sordid tale of that trader's multibillion-dollar losses this spring should serve as a reminder that the financial markets have become so complex as to be largely undecipherable. If insiders are unable to figure out what's going on, how can we expect outsiders even shrewd ones to know?" Scary, but it's the truth.
The idiocracy of the whole situation has my head spinning. The cure for the disease is to double the dose of the medicine that caused it all in the first place ? It's like the whole world is drunk on stupid, are they just setting it on autopilot and walking away? I cant see how they hope to find a way out of this latest decision. It's almost as if they have just set it for self destruct and are now going to sit back and wait for the inevitable Kaboom .
I find it fairly easy to rationalise the stock markets/QE in my mind, although I may be wrong; The amount of (computer) money on the globe far exceeds the amount of physical assets (PMs, land, superyachts etc) that are available to be bought. The vast majority of money is held by the banks and other financial institutions and when the Bernank prints more, most of it ends up in these player's hands. They have to put it somewhere, and the stock market is the only place you can easily "spend" vast amounts of "money".
Well, ummmm... I think you'll find that a quarter of the US deficit is actually directly attributable to the activity of its military over the last decade... $4 trillion, and counting... God forbid they should ever think of spending such sums on... education... health or sustainable energy eh?
I suppose you're right on the military thing but wherever it's spent, doesn't it still have to ultimatley affect a balance sheet somewhere? It's still a big lump of money dropped into a country and if it doesn't end up up as cash-spending-money or ordinary peoples savings, where else is there for it to go? (China?)
It go's directly into the pockets of those orchestrating the conflicts. The Military industrial complex, the very same people who reap the petro dollars and ensure the likes of Bernanke dictate fiscal policy around the world while minions such as Obama or Bush are selected for office to continue their plan. Wake up and smell the ink man .
