Another round of smackdown is ahead for Gold and Silver

leon1998 said:
Will hold this short position on silver, for at least two months down the stretch. :)
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Good luck Leon. Since I have been here and paying attention, your calls have been pretty good. I imagine you feel strongly to put up your $$$ and let it be known here your position. Will be interesting to see what happens over the next couple months.

I wouldn't mind buying silver at $12 if it happens- I don't know if we will ever see that or not. I will stop buying at $18 spot (except for occasional semi numis, etc), so I hope it stays low for a while.

Jim
 
Gold is right on the trend line now. If it breaks out it'll be carnage for gold shorts. Far too much risk to be short gold right now.

Silver still has a bit of room to move, but I still wouldn't want to be short. If gold breaks out then silver will probably follow suit.

The Fed is really caught between a rock and hard place now. The best way to stop a gold breakout would be to come out and reaffirm the interest rate hikes from March onwards are still happening.....problem is that the stock market will haemorrhage badly if they do that.....
 
BuggedOut said:
Gold is right on the trend line now. If it breaks out it'll be carnage for gold shorts. Far too much risk to be short gold right now.

Silver still has a bit of room to move, but I still wouldn't want to be short. If gold breaks out then silver will probably follow suit.

The Fed is really caught between a rock and hard place now. The best way to stop a gold breakout would be to come out and reaffirm the interest rate hikes from March onwards are still happening.....problem is that the stock market will haemorrhage badly if they do that.....
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Rock and a hard place indeed. I agree that they'll try to avoid gold breaking out but they cannot let the market take another rate hike? Which is more likely to cause harm, the stock market surely? Could be time for a decent gold rise, then hopefully a bullish silver to follow.
 
I'm not so sure. If gold breaks out then it'll become a beacon for "safe haven" demand at a time when investors are potentially doubting whether the $USD is really all that safe. But if they raise rates they'll shore up the $USD, suppress gold a bit longer and even though carnage may ensue in the stock market and emerging markets, the $USD will maintain (even strengthen) it's position as *the* safe haven currency, ensure capital inflows to the US, preserve the role of the worlds reserve currency and (most importantly) keep the Fed in control of the global money supply.

If gold breaks out then the genie is out of the bottle. Free markets rushing to gold would potentially render the Fed irrelevant as they lose control of the game. A savage bear market in stocks may be a small price to pay for them to keep their hand in the till.....
 
I don't think that we've seen the end of that road they're kicking the can down yet.

I'd have thought The End was reached quite a while ago but 'negative interest rates', closing down the stock market when 'fat fingers' hit, HFT that trades with itself and means nothing real etc, etc.

All commonsense would expect gold adding stability to markets and economies at a fairly high value, but, as pointed out exhaustively, then most of their manipulation of economies must be wound back.

It's interesting to see China these days, a microcosm of the corruption and economic madness of the West over the last 60 years, and the whole push for gold and silver in China, which appears to be pointedly ignored in the West, shows the future.

Yes I'm a goldbug.
 
Watching the metals been dumped straight down the elevator shaft indicates the desperation must be really great. Lets see when more of this scum is jumping out of windows again.
 
Are you watching the same market as the rest of us?

Looks pretty damned bullish to me.....

R.I.P Leon
 
My apologies. There was a bit of a flash crash overnite.

I'm sure Leon got out safely ;)
 
It should go to $16 by Thursday of next week :) then again, I told my friend that when aapl stock was $134, that I would be a buyer at around $97 lol
 
12650986_996972493706574_1861112941626540691_n.jpg
 
We got real close to the 200 day moving average in silver yesterday. I opine that once we hit that number or thereabouts, they will smack silver back down and Leon's position will be in the black.

I've seen and experienced this same "maybe it's ready to go up again" vibe as some have expressed over the past couple of days several times during the past few years. Each time that's happened, us PM bulls get kicked in the ba!!$ and watch the price fall hard and fast in what is seemingly the most effortless form of motion known to man.

I'm not saying they will smack down to $12 or some other number per se, but I think they will knock it back to its recent lows or lower a bit.

PS I have been wrong on many calls over the past couple of years, so perhaps this IS time to go up again in a big way, so do the opposite of what I say. :P

http://stockcharts.com/h-sc/ui?s=$SILVER

Jim
 
My silver short position is under water now.

However, I feel like I am NOT worried at all; let's wait for commercial traders' action in the following weeks. A long term downtrend is not that easy to reverse, to say the least. ;)
 
Silverpv said:
clash of the charts! who will win? Leon & COT vs. Bulls and technical breakouts. Battle of data!
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Silverpv,

I don't think we've hit the technical breakout yet on the charts. We are right at the long term downtrend line. See the charts below for 1 and 2 years. If we break thru convincingly, I will re-join my bullish brethren and abandon Leon in a NY minute. :lol:

http://www.kitco.com/charts/techcharts_silver.html

Jim
 
leon1998 said:
My silver short position is under water now.

However, I feel like I am NOT worried at all; let's wait for commercial traders' action in the following weeks. A long term downtrend is not that easy to reverse, to say the least. ;)
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Maybe you should go long?
 
It is at the vomit point.
Hold on and you will make money.....if you are right.
Oh the stress of it all.
 
leon1998 said:
My silver short position is under water now.

However, I feel like I am NOT worried at all; let's wait for commercial traders' action in the following weeks. A long term downtrend is not that easy to reverse, to say the least. ;)
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It's the opposite, the longer term the downtrend is, the easier it becomes to reverse. ;)
 
My current plan is to wait to buy for the now decade+ high stock market to bust, taking commodity price levels also down. The last silver price rise was again due to the will-not-be-delivered-in-commodity orders of the futures market. So again bogus. There was / is alot silver stockpiled since 2008. Not consumed but stockpiled. It will be thrown for sale in the coming years/decade, and my goal is to pick some up soon after the stock market busted.
There are some indications pointing to over some months. Maybe may or so.
Gold sits on thin ground, considering the big amounts that central banks had to purchase to prevent its price falling below $1000. Central banks cause supply surpluses when speculators wanna sell, and demand surpluses when speculators wanna buy so those that think to buy gold better wait till most don't think. Doing what most others don't, is a "golden" rule in every speculative / stockpiling market.
I miss the chunks silver now and then though. I now spend some euro's at a variety of secondhand stuff, but much less, since silver is easy to buy in any quantity, while secondhand stuff is quite timeconsuming and little bits here and then. And it eats alot more place too.
Maybe may will be silver again.
 
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