Silver Breaking out Higher

My last call was on 8/17/10:


Thread: SILVER BREAKING OUT HIGHER

Current price: $28.77 per oz.

The current price is actually $28.67 (Sept contract). Previous quote was Dec. Silver.


[link to www.cmegroup.com]

SLV is not SILVER

SLV = Manipulated Paper

I personally do not trade any paper.


However, if you go to a coin shop......they will use these prices when they determine your price.

Until the cartel slams the paper price tomorrow. This cycle is not going to change any time soon since the manipulation is more obvious than ever but the government will do nothing because JPM and the cartel is the government. The COMEX silver price will not break 30 until after Barry is re-elected and it will be controlled until the dollar crashes. At that point, the price will be irrelevant because we will all be in survival mode.

It is only natural to be skeptical when a market chops around sideways for a long period of time.


The sentiment was the same in July and early August of 2010.......either quiet, lack of interest, or skepticism.


After that breakout......it very quickly moved from the 18 dollar area to 50 per oz.

I don't think it was ever at $50/oz, was it?

As I said yesterday......silver breaking out higher.


Current price: $29.42 (Up 83 cents)

Not since January 1980.

It almost got there last year, though.

Some of this is because the dollar is experiencing some selling pressure.

One year daily:


[link to bigcharts.marketwatch.com]


Three Year Weekly:


[link to bigcharts.marketwatch.com]

[link to www.cmegroup.com]

Love the negative reactions, one stars, etc.......as this just further confirms that a move higher has started.


You might have one down day this week to get in at a low price.......if the coin shops even have anything to sell.


Big Up Week this week.........and beyond.

Current Price


$29.26 per oz.

Lol, no they use the silver spot price, not the SLV price moran. I love silver, but at least get your facts straight.

you can't eat silver !

If you had some experience with this matter, you would know that SLV closes at 3pm Central Time.


My quote was from cmegroup.com......which reflects the overnight trade. The quote was from the Futures Market (Sept. Silver.)........not ETFs.

are you sure about that?

I prefer not to purchase food stock at the coin shop.

...why are you trading that silver for worthless paper...so weird...why would you sell silver if it was going up ?...and yet I can buy as much as I want ?...why is that?..I mean it seems like you would NOT sell a item that was going up in price? Unless you wanted to dump your position on a uptick before it dropped....just a thought...

Here is a picture of a pennant continuation pattern. The pennant for gold is very large......approx. one year in duration.


[link to www.simple-stock-trading.com]


Here is the three year weekly gold chart (ETF). The ETF is similar to the actual price. The Gold ETF generally runs about 50 dollars below spot price and the Silver ETF runs about 75 cents to one dollar below spot. But the basic chart pattern is the same.


[link to bigcharts.marketwatch.com]

Not strictly true, IIRC.

Personally, I do not trade either future or ETFs.


My primary intent.....was for those who want to buy some coins......not to wait too long.

And if someone needs to raise some cash......to try to delay the sale of their coins for awhile.


I myself will have to sell some in a few weeks to help pay for property tax. Sad......but not overly sad......as I bought it for 4 dollars per oz.

Another up close.....three in a row.....Monday, Tues, Wed.


Current Price: 29.83



Confirmed breakout higher from a massive pennant continuation pattern.

5 Year Weekly Gold


[link to bigcharts.marketwatch.com]

I bought a few american silver eagles. in a year or two, 29 an Oz will be dirt cheap.

To what do you contribute the upswing to? A technical move, or is this a more ominous economic sign?