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

...cute.

I agree.

Computer algorithms have ruled the markets for a while now.
I used to read up on the NEURAL NETWORKS being devised for automated trading years ago.

Now you hear nothing about them.....because they are already DONE... DEPLOYED....and they want to keep this quiet.
The charts give them away though.

Last Edited by Useless Cookie Eater on 04/28/2011 04:17 PM

Long term, I think silver will go much higher.

But it went up so much and so fast that a short term pull back could well happen. If industrial demand slows and people start getting skittish, the sellers could pile in but with no buyers. It could go down.

Same as with sugar.

....as long as benny b has his box of crayons.

They said that in 1980 as well. I remember cause I was there. It might hit $55, or even $60, but I still say it will settle at $25-$33.

Not possible until after Nov 2012.
We ALL know who is driving the economics of this in 2011.

Last Edited by Useless Cookie Eater on 04/28/2011 04:29 PM

Seasoned traders? You guys sound like hobbiests to me. You wouldnt know TA from T+ A

Hobbists??

My P&L says otherwise.
...as does my resume.

Retard has it backwards. Silver right now has a supply deficit of 300 million ozs per year, that is made up from dwindling government stockpiles and scrap supply, and you can only sell the family silverware once.

The shorts are screaming, if we get much above $50 like a dollar or two you could see the mother of all shortcovering rallies. Check out the stats from last year, industrial usage up 20%, investment up 40%, worldwide total investment dollar flow into silver was a measely $5.6 billion, which is 2% of the market cap of Apple, the tech bubble had tens of trillions invested and the housing bubble had hundreds of trillions.

[link to www.silverinstitute.org]

idk I thought we would push the 50 mark yesterday and now I am wrong..........


Does anyone know about the whole barrick gold trying to takeover a small copper company??

At 7bil they must now something about copper future price that we dont?

Industrial demand increased 20% last year. Silver has 100 times more new patents each year than all other metals put together.

Do you think people right now are more skittish of silver or more skittish of the US dollar? Which way will that trend go over the next couple of years? Is the dollar magically going to get stronger?

There are no more large high grade gold deposits left, and the company must continue.

If a loss of 5 dollars in silver give you margin troubles already or more generally if one single trade can kill you, then you should better go back to paper trading until you learned how to manage your risk and your money.

I don't have to read any further at this point to know that you have no clue.

Maybe not until after November 2012 but it will go back down and those buying now are not going to be happy.

Back in the Carter years the economy was in such a mess gold silver all commoditys were up, then along came a great guy by the name of Ronald Reagan who put faith back in our society, the economy flourished and down came the PM's.. this time there is no Ronald Reagan only one inept marxist runnning the show.. no hero on the horizon to give us pause about where our economy is headed.. but down. I look for everything to keep climbing theres no magic out there left.

Ya know we are screwed when the Walmart shoppers run dry!

I see until Today no Double top. Technically speaking yesterday we had a long Rang Up Bar (propably from Shortcovering the days before) und today o Doji.
Until now this speaks for a Continuation of the Trend. No Short indicated.

I see until Today no Double top. Technically speaking yesterday we had a long Range Up Bar (possibly from Shortcovering the days before) and today a Doji.
Until now this speaks for a Continuation of the Trend. No Short indicated.

(A few spelling mistakes corrected :-))

Silver dropped UP another 71 cents. Under normal circumstances that would be considered a monster gain for one day, except for recent weeks and months.

How are your shorts, OP - full of silver or full of bull?

I bet all these 'experts' who have been calling tops for the last $30 know the truth.

They turn all that fiat the gov/jpm pay them with into real silver.

Hey Mister 25-Years-Of-Trading, where is your $52? Time is running out!

Maybe you need to spend yet another 25 years with learning how the markets move.

***

BTW: Who removed the pin from this most important, most informative thread of mine of all times? Please pin again! Thank you.

AGQ IS DOUBLE LONG !!

sell here and now at 45.42 before you get burned with your longs. NOW!

Hat tip to OP.
Looks like he called this one.

ZSL UltraShort Silver ETF
Closed at $13.64 Friday.
Will open up about 10% today.

If he shorted Thursday during the day, he called it VERY well.

A joke, jealouse or just plain stupid.

Maybe all 3?

Would you please explain why I am "plain stupid" because I called a trade and it is happening exactly as I called it? Is it because you were wrong and I was right and somebody who disagrees with you (or with the other lemmings) must be stupid, no matter how right he is? Is this the reason?

Then it seems you have found the right forum. Welcome.

Nice OP, when and what will the low be? thanks

Difficult to call an exact price level but I would stay on the side lines for a few weeks or maybe even months. It will be visible in the charts and present itself when this correction is over and even then I would not jump in at the very first signal. Give it some time. Carefully observe how it behaves at important support levels (previous highs, major trend lines) and also observe how the other major instruments behave.

another imminent 3.50$ drop from here where it is now ($43.50 at the moment) is guaranteed the next few days, maybe even today. This brings us to around $40 this week.