$ Silver $

unreal ... silver broke through to the upside and then back down

from $21.00 overnight while gold did not get to the magic $1000
level

was this the top for the year made while I was asleep ?

guess tomm NFP # @ 8:30am will give us clues to the answer

:p
 
not sure I agree with a metals top since dollar peg countries are seeing black markets springing up and discounting the peg rate 10 - 20%

middle eastern counties specifically...they cant tolerate this much longer ..

something has to give and the vote is piling up , no bueno dollar
 
the dark side is winning today

I am hedged flat and will await
the events later today

do not want to fight the BOTS
when they play ping pong
at olympic speed

:p
 
Thanks daddyeaux for the link. :) The article was very interesting especially the below paragraph. It explains how and why majority of traders go wrong and lose money in trading:

Quote from daddyeaux:

http://www.silverassociation.org/seespotrun.html
More...
The ironic thing is, the silver clouds ahead are showing that what silver investors have been waiting for is actually beginning to happen: An enormous short squeeze in the large commercial traders and industrial users. For years Ted Butler and others have been explaining how powerful commercial traders have been shorting into every silver rally through during the entire bull market thus far. Once the price has risen enough, they pull bids from under the market and force the price of silver to crash in days of gut-wrenching freefalls. Once the price has crashed, the commercials cover their positions at a profit and the cycle begins all over again. This has happened so often that silver mining investors have been programmed like Pavlove's dog to dump silver miners as soon as silver moves up.
More...
 
you know what ?

I always thought this stuff about "pulling the bids" was nonsense

but early friday I saw it happening in both gold and silver

gold dropped $27 and silver dropped 70 cents ...
both in the span of one hour

( being it was a friday morning with thin volume pre comex open
when it started and yes the euro and oil price were both under pressure at the time ... but still )

mining stocks also got hit pre NYSE open and into their first hour as well

:eek:
 
saw this today and it made me chuckle

http://news.silverseek.com/SilverSeek/1215547653.php


-A quarter weighs about a fifth of an ounce. At today’s silver price of around $18 per ounce, the 1963 quarter
had the equivalent of today’s $3.24 of silver in it.
Thus, silver essentially buys the same amount of gasoline today that it did 45 years ago. -


the author claims that in 1963 a gallon of gas cost 30 cents
and we all know how much gas costs today

:cool:
 
Silver's close today is extremely bullish, its highest in almost 4 months (since Mar 18). Only possible glitch is open interest which has not been increasing in a similar pace as gold. Maybe today's 50¢ rise will bring in some of the stragglers and open interest will get a bump.
 
just noticed this ...

am trying to figure out why

as they do say when and what


- On July 11, 2008, Barclays Global Investors
International, Inc., the sponsor of the registrant,
issued a press release announcing
a ten-for-one stock split of the shares
of the registrant with a record
date of July 21, 2008 and a distribution date of July 23, 2008. -

:p
 
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