Best Thread Silver!

[Atilla]

I still see lower highs with a test of 3000 level.

As before if it doesn't hold then test of 2800 or lower.

Bit surprising with all the talk of currency wars and focus away from inflation to growth and with all the noise from banks doing what ever is necessary one would expect a flurry in gold and silver.

Anyhow best to keep it simple and trade what one sees.

 

[YouAreNotFree]

I don't see why that cost of production figure must be BS. It may not be every producers' base cost, but what would the site gain from issuing a complete falsehood?

Just a hunch.

 

[YouAreNotFree]

Bit surprising with all the talk of currency wars and focus away from inflation to growth and with all the noise from banks doing what ever is necessary one would expect a flurry in gold and silver.

I read today that large speculative long bets in Gold are the lowest for a long time (forget exact period now). Central banks continue to buy, but they were generally selling at the lows of the 90's if I remember correctly.

I'm itching to see what happens at the 1500 support, should we get there. There will be a large bid for sure, but if we break it........oh my the thought. Could be fun.

 

[Atilla]

I read today that large speculative long bets in Gold are the lowest for a long time (forget exact period now). Central banks continue to buy, but they were generally selling at the lows of the 90's if I remember correctly.

I'm itching to see what happens at the 1500 support, should we get there. There will be a large bid for sure, but if we break it........oh my the thought. Could be fun.

1540 will be a battle line first imo. Don't know why the 40s always significant with gold. It will be breached sooner or later though.

1440s a definite maybe - there's an oxymoron for you :cheesy:

 

[YouAreNotFree]

Silver's Four Hour Slamdown Window | Zero Hedge

And the Silver crew wonder why they are such a laughing stock.

If they want answers all they really have to do is pull up the volume data.

Sorry, no conspiracy. Move along.

 

[YouAreNotFree]

I found this video very interesting.

Despite the whole 'I'm better than thou, you dirty paper loving government shill, you bankster loving SOB' attitude of so many Silver investors, it turns out that for the most part and with time, they come to see things in a different light. They are not so very different from the 'Sheeple' after all.

Silver up! And the fickle silver investor - YouTube

 

[Atilla]

Silver's Four Hour Slamdown Window | Zero Hedge

And the Silver crew wonder why they are such a laughing stock.

If they want answers all they really have to do is pull up the volume data.

Sorry, no conspiracy. Move along.

Looks like classic rejection to me. Looking at the 1Hr charts it tested 2980, fought back to 3020s failed and down the chute to 2930s.

I can't see it stopping there either. Will test 2800s I reckon.

Still seeing LHighs + LLows so stick with the trend.

 

[YouAreNotFree]

Looks like classic rejection to me. Looking at the 1Hr charts it tested 2980, fought back to 3020s failed and down the chute to 2930s.

I was alluding more to the massive rejection of all common sense (as per usual) on ZH.

From the article:

''It appears that from the open of US equity trading pre-market to the close of Europe's equity markets (~0730ET to ~1130ET), Silver has been offered non-stop''

Gee. You think that may be the most liquid part of the day? If my memory serves me the first few hours post the US opening will see more volume than the entire Asian and first half of the European session. If i'm Johnny big time with 10k contracts to shift on a particular day, when would I chose to do that? All ZH readers want to hear is that there is an elusive Wizard-of-Oz type figure who has a dastardly plan to manipulate the price of Silver ever downwards. Oh, and he trades on US time.

What about all the times Silver is bid non-stop? Is that a conspiracy? I'll throw up a screenshot tomorrow to show how blindingly simple it is to identify the US session via a volume chart.

Still, ZH has an certain type of reader to appease. If they don't give them what they want the site wouldn't exist.

 

[Atilla]

I was alluding more to the massive rejection of all common sense (as per usual) on ZH.

From the article:

''It appears that from the open of US equity trading pre-market to the close of Europe's equity markets (~0730ET to ~1130ET), Silver has been offered non-stop''

Gee. You think that may be the most liquid part of the day? If my memory serves me the first few hours post the US opening will see more volume than the entire Asian and first half of the European session. If i'm Johnny big time with 10k contracts to shift on a particular day, when would I chose to do that? All ZH readers want to hear is that there is an elusive Wizard-of-Oz type figure who has a dastardly plan to manipulate the price of Silver ever downwards. Oh, and he trades on US time.

What about all the times Silver is bid non-stop? Is that a conspiracy? I'll throw up a screenshot tomorrow to show how blindingly simple it is to identify the US session via a volume chart.

Still, ZH has an certain type of reader to appease. If they don't give them what they want the site wouldn't exist.

Prefer to keep it simple and avoid market noise and expert opinion unless it is an official significant news type announcement. Did have a quick gander but didn't make much sense of it to be honest. I'm sure it's my limited faculties to digest it all.

Volume is very significant I agree and certainly helps if you have depth and breadth of the market.

 

[YouAreNotFree]

I'll throw up a screenshot tomorrow to show how blindingly simple it is to identify the US session via a volume chart.

Circled area is Monday when the US was closed.

 

[YouAreNotFree]

Plenty of fear, and we're looking a bit oversold. I have support at 28.60.

Lets see what the Fed minutes bring this eve.

 

[YouAreNotFree]

double post

 

[Atilla]

Plenty of fear, and we're looking a bit oversold. I have support at 28.60.

Lets see what the Fed minutes bring this eve.

Yep rightly so as the Fed and everyone else has BIG issue with winding down QE. Did somebody ask if we still need QE?

I think they have no choice but to continue.

Originally on the charts I was expecting 2800-2700 but no point in stretching a good run. I'd take 50-75% off and let the rest run if I were in the silver short.

Off topic but gold is doing well sliding to target

 

[YouAreNotFree]

Fed minutes slightly Hawkish.

I had a glance at the Bullionvault order board today. What has distinguished recent large sell-offs from those of the last several years was the complete absence of any competitive bidding and eager taking of offers. Premiums didn't change and the spread didn't widen. Things have certainly changed. Have the retail physical crowd stopped believing that it's going to $5000? ( yes, thats Silver i'm talking about, not Gold.)

I'll be watching to see any acceptance below 2850-60 as a signal we may have a bash at the 26 lows. Looking at the last time we were at those levels it may be like walking through thick mud before we can get there. A correction would be nice first.

 

[YouAreNotFree]

I'm looking for a rejected break of yesterdays balance day to the downside this afternoon. I'm wary of playing this thing to the short side right now, what with covering rallies and all.

 

[Atilla]

I'm looking for a rejected break of yesterdays balance day to the downside this afternoon. I'm wary of playing this thing to the short side right now, what with covering rallies and all.

Maybe some retrace is due to 29-3100 range. Don't know which but only point I'd make is I'd rather wait for a bounce and go short. Same as gold strategy really.

I'm not sure if I'm seeing a continuation pattern emerging but difficult to say now. Would like to see some consolidation again first.

I may put a limit order to sell if it reaches 3100s next time. Been interesting to watch.

 

[The Protected Trader]

I don't see why that cost of production figure must be BS. It may not be every producers' base cost, but what would the site gain from issuing a complete falsehood? I've seen figures that span the whole spectrum of prices, from $7+ up.

However, even if you believe the 'official figure' of $7 or so ask yourself this. If that were a Chinese produced electrical item that everybody wanted, with exceptional marketing, what would be the retail price?

Personally, I see a lot of worried Gold and Silver bulls at the moment (for the short-term). It's all froth, as the longer-term fundamentals are very bullish, aren't they?

Hi

I am BUYING and adding to my SILVER at this level - Trading FUTURES and LONG SILVER ETF SLV - the Best way to Trade SILVER in the UK

I BUY SILVER and Get Paid to OWN it - Great Cash Flow while you wait for it to go up !

Sideways market is GREAT for cash flow.

The Protected Trader

 

[zorbas]

I BUY SILVER and Get Paid to OWN it - Great Cash Flow while you wait for it to go up !

Hi

Can you elaborate on the Get Paid to OWN it ? What is the strategy behind ?

Thanks

 

[Pat494]

I keep trying to interest the Yanks into re-circulating real money in the form of silver dollars, not that paper stuff they keep devaluing on QEs. Might boost the silver price no end.
What do you guys see as an advantage in watching the silver figures as opposed to say an index ?
That phrase - getting to own it sounds interesting ?

 

[Atilla]

I keep trying to interest the Yanks into re-circulating real money in the form of silver dollars, not that paper stuff they keep devaluing on QEs. Might boost the silver price no end.
What do you guys see as an advantage in watching the silver figures as opposed to say an index ?

One of the key properties of a currency is that it is portable, dividable and transportable. There then is the proplem of storage, security and weight etc.

So unless there is a shortage of gold, adding another currency into the basket of pseudo money is likely to be more complexity for little gain.

If devaluation of money is the concern then I would look towards switching assets; equities, land, property, art and so forth...