I think we might see a dip to 31-32 before heading back into the upper 30's or teasing 40.
Just based on numbers I picked out of the sky fwiw

whipsaw much?

Eye on 32 as long as japan disaster doesn't become worst case scenario and panic all world markets into more then a healthy sell off of risk assets. Then plan to flirt with 40 on the next move up, I like it alot.

The silver market has been crazy this week. $1 and $2 swings are commonplace now it seems. I expect $5 swings to become the norm in the not-too-distant future.

On a happier note, on this St. Patty's day I'm trying my 'luck of the Irish' to see if I can snag some free Leprechaun gold:



(and so is my wife, kids, grandma, dog, etc.. )

have you read the terms of agreement of Pokerstars, Neteller, you local bank, etc.?
When dealing with large, pulverized vehicles such as the GLD etf, I feel no need for this kind of due dilligence, or else i'd spend the rest of my life reading contracts and disclamers.
plus, how come people telling me to buy physical gold never bring up the risk of someone selling me a copper coin with gold plating, or some other amalgamated metal in the middle? you trust shady coin-dealers more than iShares (blackrock)?

You should never be allowed to manage a large amount of money with that attitude. Those things matter.


Because it is easy to tell fake from real gold. Also one of the reasons the more recognizable coins or bars carry a slightly higher premium.

Anyone who would answer no to this question is essentially ******ed.

Morgan Stanley (MS.N) will pay $4.4 million to settle a class-action lawsuit with brokerage clients who bought precious metals and paid storage fees, according to a court filing.

The proposed settlement, which must be approved by the federal court in Manhattan, includes a cash component of $1.5 million and economic and remedial benefits valued at about $2.9 million, according to a court filing on Monday.

The suit, filed in August 2005, alleged that Morgan Stanley told clients it was selling them precious metals that they would own in full and that the company would store.

http://www.reuters.com/article/2007/...28014520070612

so f sick. sold my SLV on monday.

ya i sold 1/2 my slv about 10 days ago,so sick....... its gonna crush eventually!

were smart enough to realize this

http://seekingalpha.com/article/2595...-silver-shortshttp://seekingalpha.com/article/2595...-silver-shorts
Acting as Co-King of the world, JP Morgan is trying to mask the silver shortage and effectively expending a lot of effort (and not much money) to buy time... holy s*** they are getting creative.

Great article by Avery Goodman.

Sold my SLV options a lil while back, prob a earlier than you guys but honestly until now would have lost a good deal of time value so I had extra $ when the tsunami hit.

I never mind, physical is first and I also hold miners.

yeah but we might see that consolidation phase ("crush") after it runs up to 43, its all fair game. Wait until we surpass all time highs and there is no resistance at all (then pricing silver will become interesting).

I really don't see how this would allow JP Morgan to hide shortages. Comex vaults are allocated vaults. When deliveries are made serial numbers and weights MUST be provided for each bar. Once someone picks up their silver and any of that info is wrong the jig is up. JP Morgan can't just say silver is delivered and then scramble to get some only when you actually withdraw it.

JPM becomes a licensed vault is astounding record time, JPM is one of largest short sellers of silver, in effect JPM could have 10,000-15,000 silver contracts and deliver it to themselves to make good on the contracts. As we know most all of these bars (represented by the 10-15k contracts) will not be delivered to the longs. Who is to say all the information and chain of ownership for the few bars that do get delivered won't be valid and correct? Why would there be any scramble with such sporadic withdrawals? JPM previously sent the silver to licensed vaults like HSBC, Scotia Mocatta or Brinks etc. JPM can now lease this silver that is supposedly allocated and wholly owned by the bailor. This could very well happen with registered not eligible bars. I have to go, but there is a lot wrong with this. I see it as the fox guarding the hen house, plain and simple.

There have been inaccuracies with the SLV silver storage directly related to inventory issues, if "ANY INFO IS WRONG" as you stated, this would not necessarily mean any jig is up. .

mrmusicrecorder do you follow Tahoe Resources?

JPM just recently applied for a licensed comex vault and it got approved about 2 days later. Seems like JPM could do whatever they want. I don't understand all this mumbo jumbo though.

Everything I've seen about that is that they hold bars with identical serial numbers. However, (some) manufacturers reuse serial numbers each year. Oddly the identical (but not by weight) bars are all from manufacturers that do this.

As for JPM, yes they can now deliver silver into their own vault. Big whoop. Yes most people never withdraw it, but you don't know which ones will/won't ahead of time. Given you need to give the weight/serial when you deliver, this isn't something that is really useful for hiding silver shortages long term. I'm not saying its impossible they don't try, it just doesn't seem effective.

worst case here?
I own SLV and it goes way up do to complete dollar collapse only to find out that my silver doesn't exist. What would happen in such a case?

Worst case is you're screwed. You'd have claims for whatever ammount SLV was worth when it collapsed. However any legal settlement would take awhile and you'd probably see pennies on the dollar and silver would continue to climb in the meantime

Personally I don't subscribe to most of the theories regarding SLV, although I still own physical silver/gold instead of SLV/PSLV etc

This week in the SLV warehouses, 86 bars changed serial numbers.

Trust is a funny thing, some people earn it with a name brand and a $700 billion cash.

It doesn't matter, if I have an allocated bar X1-barX100, I don't care what numbers I get back. The bars are fungible and simply have to be good delivery bars, not bar X1-barX100, the contract requires 100 good delivery bars, not bar X1-barX100.

I agree this would be no long term strategy to hide a shortage in silver.

Def. more creative than effective.

No, but they have some attractive competition. They are too big for my britches, I don't like pricing the huge companies, too many people are doing it.

I prefer to sleep in between the grey markets and the pinks sheets right now, so I has them on watch, and took them off.

Not that I don't like them, I remember reading a pdf put out by Tahoe and the it actually got me into bear creek mining.

Do we need to break 40 before the massive run up or will there even be a massive run up?

Of all the places I shop for silver non seem to have any Engelhard or JM one oz bars or 5 and 10oz for that matter. Is the public beginning to catch on or is this just massive hoarding buy the small number of growing bugs?

idk but I am giddy to slowly sell out of my position at these levels. 100 oz last month sold and another 100 oz this month, back to APMEX it goes.

Those were bought at 19/oz, the most I had paid for it per oz out of what I have.

Looks like another beginning to the "big one" that got away story. I'm sure mr.music will sell you some in a few years at 125 when he is buying up blocks of real estate.