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seems to have been some profit taking this am in european trade leading up to the NY opening do not worry ... you are not the first person to make a bold prediction here on ET I will be happy if silver can get over $17 first by the end of the week :)

look ... it could happen ... in the weeks to come the longs to need to digest alot of things this week a. rollover week in gold b. fed meeting c. nfp data d. ET posts ( just kidding ) at the same time ... the market is a bit nervous about the power blackouts in south africa...

personally I think the trade is too risky now ... a month ago was the time to take the trade

... elliot wave does not consider changes in fundamentals ... only looks at charts ... -SAfrica miners in desperate talks over power crisis Sun 27 Jan 2008, 12:33 GMT- -Eskom's failures threaten to halt industry for weeks January 27, 2008- -PRECIOUS METALS: NY Platinum Soars On S...

various newswires had this hitting the tape on friday if this were to be a long term crisis not only would this affect the "miners stocks" but also the precious metals themselves -South Africa's three top gold producers and the world's biggest platinum miner suspended production at...

about 3 % to the plus side this week for me sheesh ... what a crazy week ... that banker kid in france who lost zillions was the kicker for me ( cie la vie ) :p

was not there a book on this style of trading ( i.e. scaling down perhaps in the basic items we all need ? )

the telegraph newspaper of london had a headline today I excerpted this bullet point. -Peter Hambro, the founder of the second-largest gold producer in Russia, expects the prospect of worldwide stagflation to drive gold past the $1,000 barrier this year.- my comment ... platinum and...

any chance some of this is related to the "rogue trader" in France ? see ( other threads ) :(

www.bloomberg.com/apps/news?pid=20601087&sid=aOzOTPDFOnbc&refer=worldwide

now back in the green doing arb. but yes ... today was one of those days where you did not want to be taking a dumper at 8:20 am est unless you were shitting green :D

to share some winners and losses and the lesson learned if any ... ( ok sorry newbs ... no "secrets being given out ) except one has to work hard no matter what and even stand aside if needed of course I will go first ... got up 4:15 am EST to see the carnage ( before the 8:20 am EST...

in times of panic ... people sell everything and ask questions later esp if sitting on huge gains over the yrs

not not that kind of DOM ~ but sometimes I have dreams where the markets I trade are moving up and down the DOM ( depth of market ) ladder then I wake up ... :p

have not been paying attention to this but I noticed this evening in Asian trade that the spot forex USD EUR rate is HIGHER than the futures basis march ?

http://goldnews.bullionvault.com/gold_price_long_term_money_inflation_011820082

one more thing to consider ... silver was relatively strong compared to gold on friday ... ( of course this could change as soon as the markets re open )

week total ... plus 3 1/2 % :)

you are quite welcome by the way ... the silver gold ratio came in today :cool:

www.lbma.org.uk/publications/forecast%202008/forecast2008_silver.htm