$ Silver $

Quote from SethArb:

....shows size then --- whoops --- reduces size or goes away from the best bid - best offer shown just a few seconds before ...
:p
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The commercial shorts, pulling their bids on the way down.... Desperately trying to cover their shorts....

The silver ETF has drawn some 70 mil oz out of a market that can little afford it. When Joe Public wakes up to the fact that silver is depleting fast and demand is holding steady(ish) then silver "should" fly! How much fun it would be if COMEX stocks hit zero? Does COMEX have a warning level? Things are going to get interesting in silver even if other precious metals decline further...
 
i was awake last night thinking where could i borrow enough coin to purchase 100 million oz of silver. back up the truck at the comex....some enterprising dude should/could and probably will do this...a billion and change - cost almost nothing really when you consider the liquidity floating around.... can you imagine what that would do to the price?
 
The theory is that some Chinese trader is still holding a large short position, much like the Chinese trader who got burned shorting copper. Or else it was Warren Buffet who was thought to be part of the shorting crowd (some would say manipulators) and now that he's been forced out of his silver position the price has been freed a little more.

Fundamentally this market is screaming "buy" but it's a very dodgy market to time right. Perhaps Buffet is trying to climb back in. I understand he was more than a little annoyed at having to give back all his silver at this time. Anyway, someone somewhere is accumulating silver outside of traditional warehouse stocks. I also wish I had a few million to pick up some physical silver right now.
 
Quote from niceneasy:

i was awake last night thinking where could i borrow enough coin to purchase 100 million oz of silver. back up the truck at the comex....some enterprising dude should/could and probably will do this...a billion and change - cost almost nothing really when you consider the liquidity floating around.... can you imagine what that would do to the price?
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I believe there are delivery limits to prevent what you propose...and the rules can change since it's their sandbox you're playing in....
 
Anyone ever ask the Hunts if they use "silverware" at Thanksgiving Dinner. Serious whirlwinds abound. Seems like a good time to start buying and melting crapware to fuel the speculative boom. Nothing like the sight of Grandma out on the curb selling her silverware to ignite the rampant speculation necessary to propel us into the stratosphere.
 
You know, I cannot believe the rise in Silver. All my dads silver coins from Germany he 'acquired' during the Second World War suddenly are worth a heck of a lot of money. I'm just taliking about the silver in them, let alone the 'collector' premium. A guy from the local German Club here recently offered A$2,500 for what I forgot I had! The electrical copper wire and plumbing copper leftovers in my back shed from when I built my house is suddenly worth $150 bucks!!! I was going to throw it out last year but forgot.
Funny how the charts for all these metals looks the same considering the uses of copper are very different to that of aluminium for example. Hedge Funds have huge positions in all these metals.
Time to short Copper, Zinc, Gold, etc you will make a fortune there is no 'supercycle' in these metals its just hot air fromMark Faber,Jim Rogers et al. If you think they don't ever make a wrong call, check the facts. You will find they have been wrong BIG TIME in the past numerous times.
 
have you considered selling the coins on ebay

or finding out what % of silver content they have?

there is a battle going on between the people
who say the parabolic rise in metals was caused by
to many hedge funds, CTA's and momentum players doing the carry trade
( i.e. borrowing money from japan to play the
hot markets )

this might have ended or is ending as we speak

on the other hand ... Barrons magazine
has Jim Rogers on the cover this week
and other market timers say that
if gold drops $50-100 to back up the truck

plus market sentiment has to be way more bearish than bullish now ...

mark hulbert this week mentioned on CBSMarketwatch how the gold market timers
were no longer bullish now after being at times
wildly bullish in recent months
 
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