~~~ SILVER DOUBLE TOP FORMING ~~~ THE MOTHER OF ALL SHORTS ~~~

just like when they halt oil production to artificially inflate the price, get a bunch of sucker bulls to invest heavily, then pull out at peak and let the suckers take the fall.

Well, looks like ebay is having no problem selling bars right now.

Engelhard 100 OZ. Silver Bar .999 Fine Pure Silver

Time left: 0h 22m 16s (Apr 28, 2011 11:05:28 PDT)

Bid history: 18 bids

Current bid: US $5,401.00

Hey guys...where is the best place for me to buy from? i'm far too late jumping on board , but better late than never eh .

silver will never ever ever ever in out lifetimes be 20 dollars an ounce again ill bet my sould and my family on that mother fucker

you are not to late at all silver is still very cheap in the big picture! and if your scared that it is to high then buy Morgans peace dollars ect becasue they also have collector value. peace

Holding over $50 will trigger a monster move.

"U.S. mines produced 94,100 kilograms (kg) of silver in January 2011, a 5% decrease compared with December 2010 production and a 17% decrease compared with that of January 2010, according to the U.S. Geological Survey. The average daily production rate in January was 3,040 kg."

[link to minerals.usgs.gov]

Growing industrial, medical and investment demand in a decreasing production period equals short to mid-term tremendous rising prices.

Once an economical floor price is established, new mines & mining properties will come into production via new investment to meet demand, however a new mine requires seven (7) to ten (10) years to begin producing additional product for the market. Also, almost all silver & gold mining ore are derivatives from other BASE ore mining projects such as tin, copper & lead etc.. An economic collapse that produces a decline in base metal ore production will also cause a decline in silver & gold production. Even in the event of an economic collapse, products that require silver will continue to be consumed across the planet, creating an even greater above ground silver deficit and rising prices.

hmmm, i like the safe bet with morgans, but too pricey... i have little cash and was thinking of buying 1 troy oz bars or coins,(thinking of 999.9 (if thats right ?)
i'm thinking of just weight value for bartering with , if and when the paper collapses...
I'm also thinking of maxing my overdraft for supplies food etc..sheepeople are slowly wakening up..

peace n love

I can't believe anyone would be so stupid to sell right now (unless they were desperate for cash). Silver is going UP UP UP.

I hope you are right, it will give a chance to buy lots more.

and this demonstrates the underlying psychology here. Fact is everyone thinks it's going UP.

Why is APMEX offering to buy back silver at $3.00 over spot and gold at $20.00 over spot it the price is going to crash.

There is no physical out there. Time to get a clue OP.

Perth Mint vs Royal Canadian Mint - Silver shortage?

With continued reports of booming sales and tightness in the silver market, today King World News interviewed Dave Madge director of sales at the Royal Canadian Mint. When asked if the RCM is having trouble acquiring silver Madge responded, “Demand right now for silver is through the roof and it shows no signs of slowing at this point. Sourcing silver is becoming very difficult. We are competing with a great many players when it comes to purchasing silver and many of these players are bidding the price higher.”

Dave Madge of the Royal Canadian Mint continues:
“Our advantage is that we have had long-term relationships with our suppliers and that has helped us in this situation. We have been able to leverage off of those relationships to get supply, but it still remains a big challenge sourcing material. We’re looking at ways of mitigating our risk regarding supply of silver.

We are anticipating it to become even more difficult to secure supplies in the future. This is based on what we are seeing firsthand and what our suppliers are telling us. We work closely with these banks to secure silver and they tell us there is a lot of competition.”

When asked what this means for the price of silver and how long this condition is expected to persist Madge stated, “I think you are going to see the premiums go up in order to secure silver. At some point some players will be priced out of the market. I don’t think this is a short-term situation, I think there are a lot of issues going forward and this may be the new norm.”

[link to www.bullionbaron.com]

They are desperate. Trying to bail water with a spoon. One spoonful, a bucket comes in.

I'm a amateur trader, but candles obviously tell it was a fake out.. i think we break through 50 today.. and hard!

Underlying NEW PHYSICAL DEMAND, out of Asia, is driving silver. This is a much different scenario than the Hunt Brothers driving the price up via Futures Contracts back 30 years ago.

Steady PHYSICAL BUYING is creating a floor under silver, though that physical floor is probably somewhere below the current level due to the amount of speculative money that has flooded in during recent months.

Why the new demand out of Asia? For precisely the same reason that China is now the biggest auto market in the world ... the rapid increase in incomes among the middle class and the rapid growth in numbers of that middle class.

China is the biggest factor in this increase demand because historically the Chinese have favored keeping some of their assets/wealth in other than paper form due to paper currency destruction over the centuries.

Unless the Chinese economy takes a huge hit, with the new Chinese Middle Class suffering a setback in incomes or size, look for continuing physical demand across all the precious metals that the Chinese are allowed to buy, at least anywhere near these price levels.

Now with all that said ... there are so many speculators now playing in Silver that one DOES have to pay attention to speculators overleveraging themselves, either on the long side or the short side. The markets are presently set up for a HUMONGOUS SQUEEZE ... it is just a question of which side of the trade THE SQUEEZE occures on.

Comex just raised their margins on Silver Futures ... AGAIN, and it did little to dampen the price, which indicates that the longs either have very very deep pockets, or heavy physical demand is sitting just under the futures pricing and the commercials are coming in to buy on any slight price pull back. This leads me to lean towards The SHORTS being the ones who will suffer THE SQUEEZE, versus The Longs.

Not this shit again.

you don't even know what the hell "shorts" are

big lame ass attempt at trying to sound smart..



"SILVER DOUBLE TOP"..Like you know what that is..





Stupid Bullshit...

You follow my posts, so you probably already know the answers to these questions by now :-)

AGQ = double SLV ETF

ZSL = double SLV short ETF

Silvertard Wango Tango!

Depends if you are a TRADER...or investor.

I see a BEARISH ENGULFING pattern right now.
....a potential short term pullback from a Technical Analysis standpoint.

^ Exceptionall Good Point ^

is that some kind of icecream?



mmmmmmm dubbbbletoppp

There is no double top in silver. Thread fails.

Precisely.

I bet on more resistance and sold my SLV earlier today. Also got ZSL to short silver.

We'll see what happens. Either way was a profitable week :)

I'm ready to get back on the bull once it breaks $50 with solid support. It's a bit squishy right now, unlike gold, which seems to have a solid base to take it to $1800.

JP Morgue is that you? Looks like your avatar.

"Painting the Tape" imo

The stakes are so high with the big boys now that "Painting the Tape" is not only theoretically possible, but probably is being tried.

Candlesticks are good ... but only if they are reflecting the true market dynamics, and with Silver at the moment short term market indicators that can be manipulated with just a day or couple of days of buying/selling are NOT to be trusted.

There are times to trust technical indicators ... and times to DIStrust them. It more a smell than anything I can specifically point to, but a smell based upon many years of being in and out of the market ... and having had my head handed to me on a platter more times than I care to admit.

As I pointed out above Fundamentals for the physical still appear to be strong.

Old Trader

I firmly believe in Technical Analysis. However, TA only works during normal times. Being that this is the end of the currency cycle, normal TA won't work.

For example, gold made a very distinct head and shoulders pattern back in January which indicated a dramatic topping sign that gold was then entering a massive bear phase. It didn't. It not only broke the head and shoulders pattern but sailed right on past it.

Same for silver. There is an oddly shaped cup and handle pattern. It's a bit deformed, but I can see it. I have no faith that it will react as it should. Up it goes.

TA works when it isn't the end of the historical currency cycle. Right now? Forget it.

Candlesticks are only ONE TOOL in a toolbox of MANY tools.
...as seasoned traders....we both know that.

I'm a little bit late in the day but our German friend is talking out of his ass for the following reasonssss....
20th April Silver closes at $44.49
21st April Silver gaps Up on the open to TRAP shorts at around the $45 mark, we close at $46.088. GAPS are the KEYS up or down as they tell you what the market makers want to do.

The following day to squeeeezze the shorts still further we we have another MASSIVE gap up creating an OMINOUS evening star pattern to close out at $47.178.
If you were shorting at around $45 then by now you are in real trouble with your margin requirements and are DEAD.
Then to give a little hope the next day 26th we have a GAP down from $47.178 for a $45.079 close, enough to give the SHORTS a little more hope BUT note the GAP up from $44.49 IS STILL NOT CLOSED on the DOWN!!

On the 27th we have a GAP up on the open to close us at $45.989.
As of NOW we are riding at NY GLOBEX close of $48.55.

LOOK TO THE GOLD CHART TO CONFIRM PATTERN AND THEN LOOK AT THE VERY UNFAVOURABLE PATTERN ON FTSE London.

** Keep long and buy on DOWN.
There is no serious downside. Any close below $45.25 on a second day is cause to PULL ASIDE.

Apart from that I have no opinion.

Good HUnting a The Bunker Hunts used to say!!

Last Edited by Rose Croix on 04/28/2011 04:13 PM

Totally agree!

You only have to look at the candle stick pattern on the DOW to see quite clearly that it's being generated by a computer program..look at it!! Just look!