I think the bull run is on in silver. I went to my little silver store today and was informed that one customer had just bought $47k worth of silver and that the biggest dealer in Brisbane had to put on more staff to handle the onslaught of customers. Buy now seems to be the cry as more people fear for the future. Changing governments may be the battlecry of the masses but changing from fiat to real money is the cry of the informed. Regards Errol43
SPOT has been thru a lot of apperent resistance already, maybe the shower of all the SELL contracts is the same or even higher compared to the previous weeks and the BUY orders are eating them up. This week so far ( and its wednesday only ) has been like a 'compressed spring' and more vibrant in terms of upward price action than many weeks preceeding it. Im still with the $41 touch by close of trading week. or maybe im just 'piggishly' bullish on silver.
is anyone warming up the oven for that cake yet? i never thought i would see $40 silver before september
It is fun to be watching when it is happening, the moment it will hit 40 or 39.5 all those sell sell sell sell orders will make a nice red line down ...Yea, 50 nominal high will work like a magnet so quickly from hereon...
when it hits $50 the media will be on it like white on rice and and every tom dick and harry will be lining up to buy the shinny stuff
Quote. Jim Willie, Kitco today... "Each paper ambush led by naked shorting of the futures contract has resulted in a slingshot lift in Silver, a veritable nasty backfire in their faces. Those who cannot accept such a forecast of $100 Silver come from the same crowd that refused to believe last November that a $25 price would give way to a $40 price." "Silver will take no prisoners while Gold shakes off its bondage. It has almost reached my $40 stated target, right on cue. One of the most profound changes that has come to the precious metals market is the shift, whereby price discovery has moved directly to the physical market. The paper futures market has been thoroughly corrupted." "The latest travesty is that JPMorgan is attempting to take delivery on a large portion of its short silver position. No misprint here. On their short position, that is, so that they can deliver it!! That is like making a demand to a credit card bank that the borrower intends to collect the debt from the creditor. Utterly absurd. That comedy is worth more to watch than the CFTC charade on position limits."
Promised my missus a bottle of champane when it hits $40.00, better o get one Image captured of the iphone.
Personally, I would like to see silver slow down a little. I like that it is moving higher of course, but the ongoing spikes upward are making me a bit nervous.
Silver has always been considered a very volatile product, so folks, hang on to your seats.. it's gonna be a real roller coaster ride !
where are you looking at the sell orders? also would any of you know where I can view a MACD chart relating of course to silver?
