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Silver looking pretty good today. There must be some pretty heavy short covering going on.

It's underperformed badly in the last month but hopefully this won't last.

 

The strength in Gold & Silver despite the USD bounce bodes well for long term prospects.

i hope so, I loaded up on silver 2 weeks ago, physical and BV and so far its doing v well. ;)

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hmm, i wonder if some of the concentrated shorts are getting jittery

 

Congestion in the New York market appeared last week, both as the roll from March positions into forward positions got underway, and as the physical supplies for fabricators showed some further tightening.

 

http://www.commodityonline.com/futures-tra....php?rw_id=1252

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Do you have a link?

Latest numbers are here:

http://www.cmegroup.com/trading/energy/fil...lver_Stocks.xls

46,387,000 Oz of registered stock (this is the stuff that counts). Also remember the IMF nor any Central Bank has a physical stockpile that can be released on to the market, and the short positions are breathtaking.

 

My red...from a little while ago (it's even lower now):

comexsilver_2009-09-08.jpg

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Latest numbers are here:

http://www.cmegroup.com/trading/energy/fil...lver_Stocks.xls

46,387,000 Oz of registered stock (this is the stuff that counts). Also remember the IMF nor any Central Bank has a physical stockpile that can be released on to the market, and the short positions are breathtaking.

 

My red...from a little while ago (it's even lower now):

comexsilver_2009-09-08.jpg

 

 

Thanks.

 

This could get ugly sooner rather than later...

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If we see another 2008 style round of deleveraging, silver could go low. I'm only swing trading silver [for dollars] and will be looking to sell at around $18.

Hoping for it to go lower? :P (You know I'm only poking fun - pride comes before a fall! - It's a wild ride, and I would welcome another buying op in the next month or so.)

 

SILVER @ ~$15.00

To me, last week's action felt very much like a capitulation bottom. I have just backed up the truck at GM for silver.

I am buying here. Now.

Big call. Spending all your reserves here?

I started to nibble on Friday. I will watch the dollar index carefully before continuing to buy. Who knows we might see a good bounce next week... but I half suspect we are going lower.

 

SILVER @ ~$15.20

Silver starting to slide, and the dollar is dawdling here.

 

SILVER @ ~$15.50

I've swapped all GoldMoney silver for US dollars [not my gold though]. Will fund a brokerage account with dollars and look to buy SLW... only if we see another market crash first of course.
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If we see another 2008 style round of deleveraging, silver could go low. I'm only swing trading silver [for dollars] and will be looking to sell at around $18.

The banks non-borrowed reserves were virtually nil then, but now they are bloated. Also there have been drastic accounting changes, gov guarantees on cdos and other counter-party risk reductions since then. Why are you so convinced that there would be a similar round of forced deleveraging this year?

 

I'm not saying it can't happen but it seems to me that some of the principle drivers for that sudden forced deleveraging are markedly different for the moment.

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Hoping for it to go lower? :P (You know I'm only poking fun - pride comes before a fall! - It's a wild ride, and I would welcome another buying op in the next month or so.)

 

SILVER @ ~$15.00

 

 

 

 

SILVER @ ~$15.20

 

 

SILVER @ ~$15.50

Yes, I've completely changed my strategy towards silver. I used to buy silver considering it a leveraged play on gold. I was buying it as a gold substitute and as a buy and hold... well, until the ratio dropped to 50 and I could swap to gold anyway. I no longer think the ratio will go that low... not in the next few years anyway. So instead of buying and holding silver, I'll now only buy and hold gold.

 

Changed my view towards silver in Febuary here [was always wary of silver and always looked to jump at 55]:

http://www.greenenergyinvestors.com/index....st&p=157288

 

http://www.greenenergyinvestors.com/index....st&p=158076

 

 

That silver is going up a little here does not mean much for a buy and hold approach if the price declines again shortly.

 

I've recently bought silver but only as a trade against dollars now [bV is much better for trading than GM]. I'm hoping silver will go higher to 18/ 19 odd so I can sell. :) Then re-buy on the dip.

 

I suspect many supposed gold bugs here are in fact silver bugs.

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The banks non-borrowed reserves were virtually nil then, but now they are bloated. Also there have been drastic accounting changes, gov guarantees on cdos and other counter-party risk reductions since then. Why are you so convinced that there would be a similar round of forced deleveraging this year?

 

I'm not saying it can't happen but it seems to me that some of the principle drivers for that sudden forced deleveraging are markedly different for the moment.

This sounds about right from a rational perspective. But the market is not [always] rational, investors are nervous, and we are in the midst of a debt deflation. I think reflation will fail. At some point I expect a catalyst to trigger selling and further deleveraging of markets that have seen investors/ funds releveraging up. The next liquidation might be as dramatic, or less, or even more dramatic... who knows. But I am convinced that the markets will sell of, caught up in deflation. I'm also convinced that gold will hold up much better than silver and then go onto new heights [again similiar to last time]. Even if silver sells of dramatically, I think it will bounce back against the dollar. If you are buying and holding, you might as well buy and hold dollars as silver. I'll only buy and hold gold, while trading silver and dollars against each-other.

 

Just my 2 cents worth, and another perspective, not dogmatic about it, and continue to hedge my positions. It's just that I consider silver to be a lot more vulnerable and speculative than gold... a view which I think these past 2 years corroborates.

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I suspect many supposed gold bugs here are in fact silver bugs.

I started buying scrap British silver coins recently after deciding that not enough of my metal is in the house. Grabbing a handful of those beauties and knowing you have about £60 in your fist would turn anyone into a silver bug :-)

 

It feels like...real money!

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I started buying scrap British silver coins recently after deciding that not enough of my metal is in the house. Grabbing a handful of those beauties and knowing you have about £60 in your fist would turn anyone into a silver bug :-)

 

It feels like...real money!

Yes, I have some silver bars and coins also. It gives me great pleasure to give a silver coin to nieces and nephews when visiting. I just think silver needs to be distinguished from gold... it is not a super version of gold. GF may be right that gold shoudn't be traded. But I'd add that silver should be. And also add, given Goldfinger has been absent lately and won't be listening, that he should change his name to Silverfinger. :lol:

 

Perhaps it is inappropriate to discuss the trading of silver on this thread. Perhaps I should confine my thoughts to a trading silver thread.

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Yes, I have some silver bars and coins also. It gives Perhaps it is inappropriate to discuss the trading of silver on this thread. Perhaps I should confine my thoughts to a trading silver thread.

This thread is for watching silver only. No discussion except for the occasional Ooh and Aah as the charts surprise and confound us.

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I see silver as a short term leverage on gold, but no longer as a buy and hold asset.

 

It's great to own when there is seasonal upside potential, but less favourable during the summer doldrums. Just my opinion.

 

Gold is the buy and hold, the silver the leverage that you apply when and if you feel able.

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