Has Silver Bottomed Out?

Kawa said:
Just got an email from a friend of friend that works at an Investment Bank and it's totally official.

Silver has bottomed.
Click to expand...

Please tell those guys in the futures market - it's falling again
 
Hold it...just got another email from the sister of the friend of the friend.

It has bootomed now for sure.
 
Hey Tolly 67 --- Looks like it was just a delayed reaction to my purchase this time. I'm now at the 48hrs-after-purchase point and silver spot is now down
more than 80 cents below the spot I bought at. This is the kind of thing that my life is made out of...

FREE ADVICE FOR EVERYBODY... Wait until the NY market closes at the end of today and do your buying over the weekend. Silver spot should have fully
reacted to my recent purchase by then and all you'll all be rolling in the clover on Saturday.

Send thank-you notes and gratuities to my home address. And a good weekend to all...


EDIT..... OK -- NY is now closed for the weekend and spot here got locked in at $21.69 for the weekend ($0.91 lower than what I bought at). This is it.
I've done everything I can for you. Happy shopping!
 
yep i'm a fan of weekend purchases too... but you never know with silver... if you don't catch the dip at the right time, often there's a large spike that wipes out the previously low price... so you have to keep that into consideration too
 
mike titanic said:
In any event I am buying 10oz scottsdale bars for $225.00 this week end.Just dont know how many to get.
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Actually, they're selling for less than that...it's a good price on this bullion. Plus, when I use their shipping calculator, it says shipping within the U.S. is $0 (free).

Can't beat that especially when companies like APMEX charge a minimum of $24 per ounce so long as the value is above something like $1,000. That's highway robbery shipping charges.
 
The Comex net position (all longs minus all shorts, so actually the amount silver they can dump), is now 8399 positions of 5000 ounces, or 42 Moz, or 1306 ton silver.
The highest ever in the past 12 years was 75000 or 11664 ton silver, about the same as IShares Silver Trust, the by far biggest ETF around, now holds.
This recent low position hasn't been seen yet after 2001 / the crisis around the WTC story. And it occurs at a price that is 4 times the 2001 price.
Nevertheless, in 2001, IShares Silver Trust didnt exist. There wasn't a hammer weighting 320 Moz then. Therefore, I'm resisting the silver price tags that appear as bargains since I'm too short time in silver to have seen better, and I'm holding the euro's until sub $20.
 
Pirocco said:
The Comex net position (all longs minus all shorts, so actually the amount silver they can dump)
Click to expand...

This is just plain wrong. There is no limit on how much "paper silver" you can dump on Crimex. There is no requirement to hold silver to open short positions.
If you put a couple of billions on my trading account I can drop it below $20 on Monday.

The only real problem for Crimex manipulators is when someone on the other side of the deal asks for delivery. That's why they need to roll over most of their positions before the contract is over.

So the only way I see for the manipulation to stop is if refiners/mints start buying their silver on Crimex (because they can't buy anywhere else anymore?) and ask for delivery. Or Chinese government does the same.
 
mmissinglink said:
mike titanic said:
In any event I am buying 10oz scottsdale bars for $225.00 this week end.Just dont know how many to get.
Click to expand...


Actually, they're selling for less than that...it's a good price on this bullion. Plus, when I use their shipping calculator, it says shipping within the U.S. is $0 (free).

Can't beat that especially when companies like APMEX charge a minimum of $24 per ounce so long as the value is above something like $1,000. That's highway robbery shipping charges.
Click to expand...

Link?
 
C.H. said:
Pirocco said:
The Comex net position (all longs minus all shorts, so actually the amount silver they can dump)
Click to expand...

This is just plain wrong. There is no limit on how much "paper silver" you can dump on Crimex. There is no requirement to hold silver to open short positions.
If you put a couple of billions on my trading account I can drop it below $20 on Monday.

The only real problem for Crimex manipulators is when someone on the other side of the deal asks for delivery. That's why they need to roll over most of their positions before the contract is over.

So the only way I see for the manipulation to stop is if refiners/mints start buying their silver on Crimex (because they can't buy anywhere else anymore?) and ask for delivery. Or Chinese government does the same.
Click to expand...
Imagine you want to buy a Kangaroo kilocoin.
Imagine I want to sell a Kangaroo kilocoin.
We find eachother, and a deal takes place.
Now this question for you: will the silver price change due to our deal?
I say no.
Do you say yes?

The same applies to those that trade on the Comex.
They can trade with eachother all they want. They can take every amount positions they want.
But from the outside, only the net difference, the remainder, matters, and is reflected in / driving the price.
And that is thus the part they can remove from the price. Nothing more.

And they don't ask for delivery for the simple reason that they weren't interested in the silver at all, just in other peoples dollars, or as protection (hedging) against suffering losses due to people that say they want to buy silver but actually don't, or, actually buy silver, but only to dump it a minute, an hour, a day, a week, a month, etc later, offering it back for sale at a higher price than the dealer received when they bought it.
See, with your 'IF' there, you are drawing situations yourself. Reality is not the result of IFs, but what actually happens.
 
Chinese financial markets are closed Monday through to Wednesday so the "cartel" might have a bit of fun during then
 
silverzman said:
mmissinglink said:
mike titanic said:
In any event I am buying 10oz scottsdale bars for $225.00 this week end.Just dont know how many to get.
Click to expand...


Actually, they're selling for less than that...it's a good price on this bullion. Plus, when I use their shipping calculator, it says shipping within the U.S. is $0 (free).

Can't beat that especially when companies like APMEX charge a minimum of $24 per ounce so long as the value is above something like $1,000. That's highway robbery shipping charges.
Click to expand...

Link?
Click to expand...



http://store.scottsdalesilver.com/product/5/10-Oz-Scottsdale-STACKER-Silver-Bar
 
hotel 46 said:
House said:
Chinese financial markets are closed Monday through to Wednesday so the "cartel" might have a bit of fun during then
Click to expand...

so thurs morning or late wednes? wont hold you to it.
Click to expand...

Neither would I, read it on Silverdoctors :lol: Shanghai is only 2 hours behind Syd so close enough to our own time.

Their reasoning is it's a similar setup to the April beatdown and that with the Chinese off celebrating their Dragon boat holiday (and Aus celebrating their Dragon's birthday), they have more leeway for a crash as the physical market won't be able to buy for those few days.
 
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