BREAKING NEWS FROM MAX KEISER Silver stackers 39 v JP morgan 0 Now off to bed now that you won. Regards Errol43
Does anybody have plans for $40 "Silver Party"? We should each put aside a few ounces and organize a party in the capital city of each State for each new price 'decade'. This one would be a $40 per head. The next one could be $50 per head and so on. (Can't wait for the $150 per head night! Probably make headlines!)
Sadly no. The party is about to come to a sorry end. The recent spike will be some shorts being liquidated. I expect the current price to collapse once London opens in an hour or so and the selloff begins in earnest. SPOT: USD $40.07
So what are the Prog's on where we end up at the end of trade tonight Guru's ? Those in the know have called it pretty well so far, What do the bones tell for the weekend wait? Up tonight and down on Monday or vise versa, ? Sideways ?? or On and Upwards ???
It is an interesting weekend/week ahead - The US government are scrambling to try and pass the budget by tomorrow - Portugal bailed out - Japan hiding information - My inflation charts indicating inflation in the commodities fuel, foods ect are a mix this month. Ups and down but the quarterly index showing things are have increased on an average of 9.9% for the Quarter ending in March. - Auction clearance rates down this week in all major capital cities Very bullish news all round. As for picking the price, well its only going up. But with JP and co. on the scene its hard to pick an up or a down in the coming days. If it was a FREE market then i would call $41 by the end of next week.
Yep and oil prices are soaring! (lucky the AUD is so high so its not going to hit as hard as it should)
I'm still expecting a pullback later tonight and, frankly, I'm surprised it hasn't struck yet. Something seems 'fishy' to me right now. The tape is not behaving at all how I would expect it to. Of course NOTHING happens without a reason in the silver market! If we DO see any significant gain tonight (without an intervening take down) I will be even MORE surprised! (Pleased too of course, but surprised nonetheless!) That event would suggest to me that something fundamental is changing in the silver market at the current price level. So I look forward to hearing the views of others tonight, as we watch events unfold with interest on this most interesting Friday night. SPOT: USD $40.25 (and still rising)
LOL , So everyone is wondering ? I personally was expecting a pullback at an earlier level , much like everyone else.
Mmmmmm I agree the market isn't acting in the way it usually does... Maybe this is the beginning of the end before the boom after the calm behind the curtain! Damn interesting to watch!
Allowing the price to rise will reduce the number of physical buyers. I expected a rise like this at SOME stage between now and June but I didn't expect is so soon after the March delivery month. The move has been too smooth and mostly conducted out-of-hours away from the Comex hours. They know that their pull downs generate a lot of physical buying so this might be their solution. This would be a partial capitulation to the physical market. Roll on Friday!
40.41! PS> Can someone please explain the whole sell in may and go away thing? Does this bearish period usually include PM's/silver? How does the silver price usually fair in those 6 months?
