Silver Charting and Silver TA Chat




The "combination" of events and actions are extraordinary.... Amazing world we are living.....



These 12 Banks Got the Fed Minutes a Day Early

http://www.cnbc.com/id/100632206


CME Hikes Gold, Silver Margins By 18.5%

http://www.cmegroup.com/tools-information/lookups/advisories/clearing/files/Chadv13-182.pdf


Shanghai Gold Exchange To Hike Gold, Silver Margins

trading margins for the gold forward contract will be raised to 12 percent, while margins for the silver forward contract will be hiked to 15 percent.

http://www.sge.sh/publish/sge/ggydt/jysgg/9830.htm


Billionaires Dumping Stocks, Economist Knows Why

http://www.moneynews.com/Outbrain/b...-stock/2012/08/29/id/450265?PROMO_CODE=FE8A-1



It wasn't just Capitol Hill staffers and trade groups that received the Federal Reserve minutes a day early. Many banks and other financial institutions also got an early look at the minutes.

A list of recipients obtained by CNBC reveals that at least 12 banks, a Wall Street law firm, a hedge fund and a private equity fund were on the distribution list that got the minutes early.

The banks included Fifth Third, Citigroup, UBS, Barclays, U.S. Bancorp, Goldman Sachs, Wells Fargo, HSBC, BNP Paribas, BB&T, JPMorgan Chase and PNC.

Sullivan & Cromwell, one of the most powerful Wall Street law firms, also got the email.

The email was also sent to King Street Capital Management, a hedge fund with $20 billion under management, and private equity firms The Carlyle Group and The Cypress Group.

Trade groups on the list included The American Bankers Association, the Independent Community Bankers of America and the National Association of Realtors.

The lobbying firms Rich Feuer Anderson and Roberts Raheb Gradler also received the email, as did The Inter Continental Exchange and the European Central Bank.


Cheers


Trader10 :)
 
Another thing with EFTs/Paper. They can continue to trade that without ever taking physical collection of their 'PM' however physical will really only increase once people realise that their paper pm isnt real or they dont have the physical to back the paper.

So why would they ever need to cash in their paper PM to go physical? I mean if they trade it like stocks buy low, sell high etc and if the price of silver continues to fall why would they cash out to physical when it is low?
 
trader10 said:
The "combination" of events and actions are extraordinary.... Amazing world we are living.....


Trader10 :)
Click to expand...

And you missed a few big ones, such as the GLD puke, not to be mistaken with the mini-GPeli sympathy chuck. You know, the opposite affect to a fund buying.
The really big one(s) will be written in a wash up in due course - puke clean-up pun intended.
 
gelxi said:
The bigger picture, from my point of view :)

silvermonthly20130417.png
Click to expand...

gelxi, interesting interpretation. I'm at sea since $26 went. What is the meaning of that top blue rising line to the pinnacle?
 
Gunna said:
Another thing with EFTs/Paper. They can continue to trade that without ever taking physical collection of their 'PM' however physical will really only increase once people realise that their paper pm isnt real or they dont have the physical to back the paper.

So why would they ever need to cash in their paper PM to go physical? I mean if they trade it like stocks buy low, sell high etc and if the price of silver continues to fall why would they cash out to physical when it is low?
Click to expand...
This is a good question IMHO, and one that permabulls tend to gloss over in favour of their own perceptions of why people trade metals.
It all comes down to matching the investment vehicle to the intended purpose of the investment. Not everyone wants to take delivery all the time. Physical metal is no doubt hands down the best form of metal in situations such as currency crisis, hyperinflation or financial meltdown. However, while permabulls are adamently accumulating nothing less than physical, others use the paper market for other purposes such as hedging or speculating (like me :) ). In this case physical and it's associated premiums, relative illiquidity, and changeover costs are not applicable to this type of trading.
 
1021_copper.jpg

coppers copping it, this does not portend well for silver IMHO. Was going to short earlier but chickened out :(
 
finicky said:
gelxi, interesting interpretation. I'm at sea since $26 went. What is the meaning of that top blue rising line to the pinnacle?
Click to expand...

finicky, that is a line drawn between the lowest point and the highest point on this 12-year run-up of silver price to derive the 3 Fibonacci retracement levels of 38.2%, 50% and 61.8%. Notice that 38.2% provided the first bounce, then 50% provided that $26.x support. So now we have reached the final frontier of 61.8%. That level coincides with the last significant high of early-2008, that is why I think $21.00~$21.50 will be a strong support level.
 
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