Yeah, wouldn't be surprised at all to see it retrace to $18-20, only 8 months ago as you noted, if the selling and margin pressures continue. Below that support is 8-10. [not a price prediction]

Next level support I see at $28. PFP charts looking at $20 for longer-term support. ~28 is also the 50% Fib retracement level.

Trading like ~85% over your 200-day ma is the sign of a bubble.

The correction to $26 took it < 20% of the 200-day. Then it started to bubble again.

No time for that, ship cliff's asap. I am a big dog (+325) to not even understand what i read anyway. NOOB ALERT aka B.K.

Also, in before 'ITS ALL THAT MEXICAN'S FAULT WHY ARE THEY RIGGING MY SILVER MARKTSZ! This is what happens when you don't HAVE BORDER ENFORCEMENT AMIRITE?'

USA..


Whilsting past the grave yard

federal reserve printing 75 billion dollars a month to buy its own debt

Fed financing 70% of US budget and just starting another war

90% of home mortgages are provided by Fannie may, Freddie mac, and the fha, same government.

75 billion is suppressing interest rates unbelievable low levels around 5%

nothing to back this up, zero percent interest at the fed.

"federal reserve is propping up the stock market". source charles beverman

the fed is propping up the stock market
suppressing interesting rates.
providing mortgages.
printing 75billion a month.

And in other news... from http://inflation.us, hear what they have to say about their prized silver.

[Also for ref, at $34 an oz.... long term I would LOAD up as much as you can eat]

This past week's dip in the price of silver from nearly $50 per ounce down to below $37 per ounce is exactly what we predicted would happen a week ago on NIAnswers.

A week ago on NIAnswers we said, "The gold/silver ratio has declined during the past year from 70 down to 32. We projected it to decline to 38 this year, so there is a chance silver has run too far too fast. It wouldn't surprise us to see a large dip in silver prices with the gold/silver ratio bouncing back up to 40. However, we are 100% sure that the gold/silver ratio will decline to at least 16 this decade. Therefore, we think silver is a buy here for the long-term, but it is probably best to be buying gold here even more heavily than silver so that if silver dips in the short-term, you can sell some gold to buy more silver."

With gold now at $1,503 and silver at $36.81, the gold/silver ratio is now back up to 40, which is exactly what we predicted would happen a week ago when the ratio was 32.

With a gold/silver ratio of 40, silver is starting to once again become very attractive. Silver will likely remain very volatile in the short-term, but it is best for us to ignore this short-term noise and focus on the long-term. There is simply no better asset to own during hyperinflation than silver. We are 100% sure that the gold/silver ratio will return to its historical average of 16 within the few years, which means that those who buy silver today will see a 2 1/2 increase in their purchasing power.

Most of the people who are taking profits on silver today are going long U.S. dollars, which is the riskiest asset of all. Even though we knew silver was going to dip, we didn't sell any of our silver. We simply stopped buying silver in recent weeks and focused on accumulating gold. If silver continues to dip in the short-term, we will strongly consider selling some of our gold and using the money to buy a lot more silver.

It is important to spread the word about NIA to as many people as possible, as quickly as possible, if you want America to survive hyperinflation. Please tell everybody you know to become members of NIA for free immediately at: http://inflation.us

Thanks for the spam, and their self-reported one data point price target call is oh-so-convincing. Mods - pls kill at least the spam parts of that travesty.

Again, if the game is rigged in one direction - why aren't you RICH yet??

to be fair you used the spike in 1980 for your historical return. This thread is probably the worst example of confirmation biased thinking and groupthink I have seen on 2p2.

What if you have valuable intel that the big movers and the shakers and the inflation-bakers are trying to crash the worlds market as hard as possible so that they can institute some kind of a new currency?

Do you think it likely be fiat or ... non-fiat? Why? They've liked fiat in the past.

If non, what would it likely be backed by? Energy of some sort? Digital currency like bit coins or whatever? Pretty much anyone's guess?

Most importantly, where does does silver fit in to all of this?

Finally, does this remind you of a game of black jack?

Thanks <3:P

it actually looks to me like silver will be up tomorrow.

so you'll be 0/1 with actual calls and 1/1 with mythical 'i told my boss / friend / mother last week this would happen' calls

God bless you

Yes, I did it as a joke - to your point about confirmation bias among all the silverbugs and groupthink itt.

Still, after 32 years...at some point we hit the long-run, no? Or do we need 50 years for that? 100?

People are raving about gold but over 15 years [fair random point in time?] it's done worse than the S+P small cap, or the Russell 3000, and about the same as the DJIA -- and that's before storage and insurance and transaction costs [which are far higher for spot gold than stocks.]

Not particularly, no.

Regarding inflation.us site:

My Dad's always forwarding me info. from them. I read where they are predicting Weimar Republic-style hyper-inflation, a loaf of bread costing $100, etc., so I did a little research & found this:

http://www.youtube.com/watch?v=sDxUjMOKROU

If it looks like a duck (scam) & sounds like a duck (scam) . . .

Thank you, may God bless us all.

cool story, but this post was fri with no prior exposure to silver. also, I work as a trader so calling it to my boss is not exactly mythical.

Can someone explain how the comex will function once they run out of silver?

Raise margin requirements.

Not at all. What I was saying was that I hold for the long term. I do not worry about short term movements. I always liked buying stocks and holding on to a good business over a long time. However, over the past couple of years I temporarily became bullish on commodities. Some of what you said and what I heard elsewhere, made me look into what will/can happen short term. Silver was over bought and was due a drop.

I would like to thank you as I believe you could have contributed to saving me money. No matter how hard you try to insult me or others, I can’t be pissed off at you because I think you have contributed to me saving money.

If silver drops by a lot I will be looking at getting back in, depending on other factors. I don’t ever like trying to time markets as it is not really my style and I don’t think I would be good at it. Long term I do well though.

Alleged ROI? My ROI dropped a bit. I bought silver @ £10.9 and sold yesterday (Wednesday) at £24.40. A bit of a drop since £29 but I thank you again.

I was and held an unallocated account through Baird and Co who is a refiner here in the UK. They are a big company and a member of the London Bullion Market Association. The trade generally sells to them.

FWIW, I think there will continue to be volatility and I am sure there will be a big jump in silver in the not to long future. The ONLY real question here is what will happen after QE ends and the Fed stops pumping….

How far down do you think AGQ will go?

not as low as if the ride down was choppy.

I saw the same thing. Total bear raid. Low-mid or so 20s seems pretty likely with this looking like confirmation of a spike top. Not to mention super long candle today.

where does silver go when qe4 starts or is the budget getting balanced. after that huge "fight" over 1% of the deficit, lolz...

Was it likely silver would trim 30% from intraday highs in four days??... no it was not.

I am coming back in long tomorrow.

Yes it was because it was just after I bought some...

seems to me that, given all information, the probability of this occurrence was 100%.

claiming that it wasn't likely is as silly as claiming that the housing/mbs/cdo crash wasn't "likely"