Silver Charting and Silver TA Chat

We have now reach a weak support at $23 from Oct-Nov 2010 and seems to be bouncing. Chances are it will be beached.

It doesn't look like I will sleep tonight.
 
GSR hit 60 and the Dixie is still unmoved... this is surreal. I see that $23 support. Maybe sideways into Crimex open from here
 
Is any one looking at the volume for today....OMG, OMG OMG!!

Lets think about this...For every SHORT, there is a LONG.

If there is so much selling, someone else is buying ALOT!

Now, who the heck is buying all this paper selling?.....my guess is all the bullion banks......if that is the case.....They will be NET LONG when all this is done!!!

I am NOT sleeping tonight! :D
 
SS said:
Is any one looking at the volume for today....OMG, OMG OMG!!

Lets think about this...For every SHORT, there is a LONG.

If there is so much selling, someone else is buying ALOT!

Now, who the heck is buying all this paper selling?.....my guess is all the bullion banks......if that is the case.....They will be NET LONG when all this is done!!!

I am NOT sleeping tonight! :D
Click to expand...


I agree, but remember, a decrease in price means that there were more sellers than buyers at $26, $25, $24, $23.
 
wrcmad said:
Pirocco said:
Weird statement. For every short, there is a long.
Click to expand...
+1. ^^This.
Record shorts = Record longs.
These longs will also need covering sooner or later.
Click to expand...
But what matters for the spot price?
If supply side has an equal number long and short positions, which implicits the same on the demand side, then the spot price reflects, NET, NO futures positions. Abit like if I sell 1000 silver to you, then NET nobody buys/sells from/to the supply chain. Our trade didnt affect the price. It's only if I sell you 800 ounces and you want 1000, that you have to buy the remainder, 200, at a dealer from the supply chain. The same applies to any market side and to the market as a whole, in the form of the price mechanism.
So in this aspect, your 'record' does not matter, because it's not the number positions that matters for the price, but the position difference.
And that position difference was 18000 last wednesday, same level as 2008's bottom. At zero, the Comex stops having a share in the spot price, because they only trade with eachother, just like my you and me trade example.
Am I saying something wrong here?
 
About record shorts/longs, let's grab some data:

09/04/2013 17924 $27.3-$28.1-$27.89
Producer/Merchant/Processor/User Long 17458 Short 47033
Swap Dealer Long 28085 Short 16434
Large Traders Long 25463 Short 26072
Other Reportables Long 13029 Short 4505
Small Traders Long 25754 Short 15745

02/04/2013 18503 $28.15-$26.95-$27.07
Producer/Merchant/Processor/User Long 15866 Short 44909
Swap Dealer Long 27597 Short 17057
Large Traders Long 23840 Short 26337
Other Reportables Long 14361 Short 3718
Small Traders Long 27211 Short 16854

26/03/2013 24041 $28.85-$28.63
Producer/Merchant/Processor/User Long 14080 Short 47936
Swap Dealer Long 27506 Short 17691
Large Traders Long 23480 Short 22405
Other Reportables Long 14068 Short 3739
Small Traders Long 26581 Short 13944

19/03/2013 26439 $28.70-$29.05-$28.94
Producer/Merchant/Processor/User Long 14562 Short 49199
Swap Dealer Long 26318 Short 18120
Large Traders Long 24856 Short 20841
Other Reportables Long 13851 Short 2815
Small Traders Long 25333 Short 13945

12/03/2013 29423 $28.90-$29.35-$29.19
Producer/Merchant/Processor/User Long 13854 Short 49977
Swap Dealer Long 25355 Short 18655
Large Traders Long 24088 Short 17800
Other Reportables Long 14549 Short 2729
Small Traders Long 24899 Short 13584

I don't see any record highs there. Rather the opposite.

Picked some older:

27/11/2012 56792 $34.2-$33.85-$33.89
Producer/Merchant/Processor/User Long 11644 Short 62803
Swap Dealer Long 16308 Short 21941
Large Traders Long 39784 Short 3299
Other Reportables Long 11300 Short 9052
Small Traders Long 30361 Short 12302

11/09/2012 47272 $33.35-$33.8-$33.62
Producer/Merchant/Processor/User Long 12129 Short 64473
Swap Dealer Long 15041 Short 9969
Large Traders Long 30731 Short 3976
Other Reportables Long 10640 Short 5913
Small Traders Long 25261 Short 9471
 
Yeeeeeaaaaaahhhhh baby!!!!! :lol:
Been waiting for this set up to fire for about 18 months, and the wait has been well worth it!
Patience is a virtue. ;)
T/A has been totally validated yet again, the nay sayers can read it and weep.
Once completed, I will post the mechanics of the last couple of days trading.
 
wrcmad said:
Yeeeeeaaaaaahhhhh baby!!!!! :lol:
Been waiting for this set up to fire for about 18 months, and the wait has been well worth it!
Patience is a virtue. ;)
T/A has been totally validated yet again, the nay sayers can read it and weep.
Once completed, I will post the mechanics of the last couple of days trading.
Click to expand...
Good work dude. Been wondering how you (and a couple of others) had been faring.


-::-R-::-E-::-S-::-P-::-E-::-C-::-T-::- :)
 
RetardedMonkey said:
A heads up would have been nice :P
Click to expand...
I have been away from home since last week, so difficult to post meaningful charts during these moves - let alone manage my positions on an iphone.
However, for the heads up start at posts #3 & #10 of this thread. ;)
 
wrcmad said:
I have been away from home since last week, so difficult to post meaningful charts during these moves - let alone manage my positions on an iphone.
However, for the heads up start at posts #3 & #10 of this thread. ;)
Click to expand...
Haha, it's all good, I am only messing.

I struggle with charts. Anytime I try plot something on them, it never does what I thought.
 
I really have to fix up this mentality game.

It is sooooo obvious what will happen the moment 26 was taken out. But why do I stand aside and watch? Why don't I go short instead of waiting for $20?

There were soooo many clues where we are going, especially on the smaller time frame charts. Even more so where we finished off on Friday.

I have an order going long after friday close with 20c stop. Why didn't set up an order going short with 20c stop?

Like wise with the $23 support/resistance line.
 
wrcmad said:
Yeeeeeaaaaaahhhhh baby!!!!! :lol:
Been waiting for this set up to fire for about 18 months, and the wait has been well worth it!
Patience is a virtue. ;)
T/A has been totally validated yet again, the nay sayers can read it and weep.
Once completed, I will post the mechanics of the last couple of days trading.
Click to expand...
Good work... congratulations, your posts have been most valuable as have the other contributors.

If you don't mind me asking have you closed your short positions? Are you now long? Personally I closed out a few of my short gold last night, but am still waiting on 2130. Still not game to go long even at these prices. My entry point will be when the 18DMA is pointing up.

Please keep us posted wrcmad, gonna be fun on the way up :D
 
Yippe-Ki-Ya said:
so you guys reckon the price falls are explainable with tech analysis ?

:lol:
Click to expand...

It is a matter of "IF and THEN" scenario.

If $26 falls, then it is a rush down.

I was saying before, Paper Trumps Physical. If the rumors are right it is 100:1.

I am in the camp that the BIS/FED is manipulating PM. All they have to do is limit a rally and 'setup a technical picture', and then the managed funds and everyone else does the rest.

If that is the case, why not go along with the ride? This is a real mentality game for me.

The good news is that once we reach $20, it will bounce back up as quickly as it came down....unless of course the BIS/FED intervene and setup another technical picture by limiting the rally.

They probably have alot of ammo to do this as I believe they are net long by now..we shall see.
 
but seriously though went to sign up to CDF broker last night and they wouldn't make my account live to many hoops, 200 bucks or so on sell last night wake up this morning with a big smile, oh well not to worry, :)

now why is silver going down so fast ? lots are making a killing on the way down , well done to all those who are :)
 
Could it be the green light ? $18's or $20's ? hummmm :) Will Ben fix the banks "AGAIN" with more strategic monetary moves ?





cheers


Trader10
 
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