SILVER

[Kilham]

WTF!!!???

 

Fake silver panda for sale £40.....LOL... Its like discovering that the krugerrand I bought for £950 was a fake and then trying to sell it for £1500

 

 

http://cgi.ebay.co.uk/2008-CHINA-PANDA-10-...=item2308f829c8

 

Isn't it illegal to sell a known fake coin that isn't marked as such?. I know it is in the US, surely the UK has similar laws (we seem to have laws making almost everything except breathing illegal).

[LauraB]

Isn't it illegal to sell a known fake coin that isn't marked as such?. I know it is in the US, surely the UK has similar laws (we seem to have laws making almost everything except breathing illegal).

 

One word: eBay

 

Make that two words: Planet eBay

[Pixel8r]

Another all time high in GBP Silver today, $40 by the end of february isn't looking so hard now.

 

Nice also to see the gold:silver ratio dropping below 47.

 

 

[Schaublin]

Why are we the tax payers paying for the wedding of these benefit scroungers? Parents are on benefits living in a tax payer paid accommodation, no council tax, no utility bills, hand outs for supporting kids.....

 

The more benefit is received, the higher the social status. Obvious really. Strange thing is though, if a thousand people were asked to name the biggest recipients of benefit, I doubt more than a few would name the Royal Family - the population is well trained you see

[warpig]

There will be more of this in months/years to come... I got out of my last hobby because of better and better fakes coming on to the market. FYI - Thankfully the weight is out on this one, so it is at least identifiable as a fake.

 

http://en.wikipedia.org/wiki/Chinese_Silver_Panda

 

WTF!!!???

 

Fake silver panda for sale £40.....LOL... Its like discovering that the krugerrand I bought for £950 was a fake and then trying to sell it for £1500

 

 

http://cgi.ebay.co.uk/2008-CHINA-PANDA-10-...=item2308f829c8

[Jake]

G/S Ratio down to 46.34

[Pixel8r]

G/S Ratio down to 46.34

The break below 47 is important as it is the longterm (green) trend being overtaken by the more recent (red) one.

 

 

 

 

[electroweak]

nice little sneaky multi-decade USD high this morning: $30.8730.89

EDIT: notice how we are not seeing anything in the media? - we see cotton, sugar, blah, blah... but never silver.

[G0ldfinger]

nice little sneaky multi-decade USD high this morning: $30.8730.89

EDIT: notice how we are not seeing anything in the media? - we see cotton, sugar, blah, blah... but never silver.

When it comes to silver, the media is as quiet and silent as a morgue. A JPMorgue.

[azazel]

Say hello to £20.00 silver!!

[Jake]

The break below 47 is important as it is the longterm (green) trend being overtaken by the more recent (red) one.

Pixel, when it breaks through that green line, I am right in thinking the graph is telling me the next port of call is the purple line at just below 30?

[Pixel8r]

Pixel, when it breaks through that green line, I am right in thinking the graph is telling me the next port of call is the purple line at just below 30?

Yes I think so, but there could also be a case for adding another line between the two which would provide resistance at around 35. Here is the graph above with that additional line. I plan on watching very closely when we approach 35 with a possibility of swapping some silver back to gold.

 

 

[Errol]

Will Silver Be Worth More Than Gold? Perspectives On A Coming Silver Shortage

 

http://www.zerohedge.com/article/will-silv...silver-shortage

[Pixel8r]

Going to be a especially happy new year for all us silver bulls.

 

Silver to pilot bullish commodity rally in 2011

 

NEW YORK (Commodity Online): As 2010 ends to a close, it is brightness in the commodities trading space globally. Throughout the year, all commodities—ranging from base metals, precious metals and agricultural produces—are all up in value, cheering commodity stocks and heralding bullish run for commodities in 2011.

 

Gold, silver and copper have led the metals commodities price boom in 2010. Though gold has been the trendsetter in this bullish run, silver has emerged as the darling among commodities among traders. And if traders and commodities analysts are to be believed, silver is all set to pilot the bullish commodity rally in 2011.

 

According to an year-end survey by global financial news service Bloomberg, silver is all set to lead gains in commodities in 2011. The agency carried out a survey among more than 100 commodities traders and investors and singled out silver as the hottest commodity that can lead the commodity super cycle in the new year.

 

This week, as the year comes to a close, silver surged to a fresh 30-year high in New York trading.

 

Throughout 2010, silver has been climbing higher, with support from both the precious and industrial metals industry. The main advantage silver enjoys is that it is simply less expensive alternative to gold...

 

 

[Errol]

And an appropriate story to end 2010 with: ScotiaMocatta, one the world's biggest bullion banks, is now sold out of all silver bars.

 

http://www.zerohedge.com/article/scotiamoc...out-silver-bars

[Jake]

''In Nov and Dec silver failed to break through long term resistance..our opinion is that the 3rd try will fail too. A close under 28.74 will indicate the fifth wave thrust is over...'' RP

 

Or a close like yesterday will indicate the fifth wave is not yet over...but will it be soon?

 

Its one of those times where we see if the wave principle works or the count is wrong on silver...it will be an interesting month/year.

[Pixel8r]

''In Nov and Dec silver failed to break through long term resistance..our opinion is that the 3rd try will fail too. A close under 28.74 will indicate the fifth wave thrust is over...'' RP

 

Or a close like yesterday will indicate the fifth wave is not yet over...but will it be soon?

 

Its one of those times where we see if the wave principle works or the count is wrong on silver...it will be an interesting month/year.

He recently told his subscribers to short silver at $30 and gold at $1400, both positions are now down as usual. Why does anyone pay him to lose their money for them?

 

Here's an older article (June '09) which categorises his performance, which doesn't look like it has improved since IMO.

 

Prechter Predicts New Stock Market Lows and U.S. to Lose AAA Credit Rating

 

...Here's how Prechter's trading advice has done from 1/1/85 through 5/31/09 versus the broad U.S. stock market average (Wilshire 5000 index) according to Hulbert's analysis:

 

Annualized Return:

 

Wilshire 5000 Index + 9.7 percent

Prechter's Trading Advice -15.4 percent

 

Total Return:

 

Wilshire 5000 Index + 857.1 percent

Prechter's Trading Advice - 98.3 percent

 

The underperformance of Prechter's newsletter is nothing short of astonishing and stunning! On an annualized basis, Prechter has underperformed the broad U.S. stock market Wilshire 5000 index by a whopping 25 percent per year! Here's what Hulbert's analysis shows would have happened to $100,000 invested according to Prechter's investing trading advice versus the Wilshire 5000 U.S. stock market index:

 

$100,000 Invested (1/1/85-5/31/09):

 

Wilshire 5000 Index $957,100

Prechter's Trading Advice $1,700

 

...

 

 

[G0ldfinger]

$100,000 Invested (1/1/85-5/31/09):

 

Wilshire 5000 Index $957,100

Prechter's Trading Advice $1,700

Ouch.

 

My impression is that people in this industry for some reason can make whole careers out of one good call.

 

Was Prechter's "good" call 1987?

 

But then, a broken clock is right twice a day...

[Jake]

He recently told his subscribers to short silver at $30 and gold at $1400, both positions are now down as usual. Why does anyone pay him to lose their money for them?

 

I'm just interested if he's going to be right or continually wrong and ridiculed. Plus it is only fair to him to give a fair airing here, IMO. Surely it is better to know than to not know how he thinks? At least he is brave enough to say.

 

If he is right and the markets turn down and silver and gold crash and burn soon then I hope he will get a bit of respect.

 

As you know Pixel I would not benefit from a crashing silver and gold price. I don't want him to be right, though often I feel he could well be.

 

[d2thdr]

I'm just interested if he's going to be right or continually wrong and ridiculed. Plus it is only fair to him to give a fair airing here, IMO. Surely it is better to know than to not know how he thinks? At least he is brave enough to say.

 

If he is right and the markets turn down and silver and gold crash and burn soon then I hope he will get a bit of respect.

 

As you know Pixel I would not benefit from a crashing silver and gold price. I don't want him to be right, though often I feel he could well be.

 

He is going to be right eventually. But by then it would not matter to the main stream. It will probably be a bit late.

[Jake]

He is going to be right eventually. But by then it would not matter to the main stream. It will probably be a bit late.

Maybe but he seems to think it will be sooner rather than later.

[G0ldfinger]

He is going to be right eventually. But by then it would not matter to the main stream. It will probably be a bit late.

If the Dow goes down to 5,000, Prechter is not right, because he predicted <1,000. If gold falls from $15,000 to $5,000, Prechter is not right, because he predicted gold at $200.

[Jake]

If the Dow goes down to 5,000, Prechter is not right, because he predicted <1,000. If gold falls from $15,000 to $5,000, Prechter is not right, because he predicted gold at $200.

GF, I am not Prechters apologist. But I do read his newsletters. He has been wrong for the last 10 years on gold and silver. I have not followed his advice but am wary of his warnings, rather I have followed Ian Gordon's which has been right SO FAR. But let's not forget that gold is not at 15,000 nor 5000. It is 1420 odd and silver is 30 odd. His predictions are for the low in gold around 2016 @250USD/oz and 6/7/8 USD for silver (I forget which). At that point he wants to buy with all his' liquid cash.' He likes gold-believe it or not. This may be his fantasy and the further gold runs the opposite direction he looks smore and more stupid, I'll give you that.

On the Dow he sees 400 at the low. Gordon sees 1000 Dow and 4000 (conservative) Gold.

 

Right now he sees the fifth wave topping. So he doesn't have much wriggle room if gold (and silver) continues to 1650 (or 50) a la JS.

 

I am just setting this down in case he is right. Personally I don't think he is and I certainly dont hope he is. If I did I wouldn't be buying last week. But even if he is right I don't really care as I know how impossible it was to buy (physical) in Oct 2008. So maybe we will see a paper crash in pm's and physical vanishing from sale. Listening to Dom's interview with him on FBB a long time ago, he wouldn't have any of it. He obviously wasn't a willing buyer then.

 

You know I am in the (unsure) deflation side of the argument- though Gordon's -which is bullish for gold. I am also not sure of how long we have deflation if at all before hyperinflation-maybe warp speed. I see all the possibilities as possible...so I listen and try to learn from everywhere. Matterhorn for example. R. Russell. Turk. Erik King et al. FOFOA. Nicole Fosse, your good self, GL, David Morgan, Ben Davies etc etc...

 

BTW What about pinning the UK houses/Gold/Silver Oz charts and Dow/Gold for 2011? I'm a firm believer in 100oz av houses and Dow to 1-2ish to gold.

 

Have a great New Year.

[Pixel8r]

I wonder if he is starting to doubt himself after the CRB has set new highs. He mentioned in the Puplava interview earlier in the year that it would be one of the things that told him he was wrong.

 

 

[shawth]

''In Nov and Dec silver failed to break through long term resistance..our opinion is that the 3rd try will fail too. A close under 28.74 will indicate the fifth wave thrust is over...'' RP

 

Or a close like yesterday will indicate the fifth wave is not yet over...but will it be soon?

 

Its one of those times where we see if the wave principle works or the count is wrong on silver...it will be an interesting month/year.

 

Well Prechter is wrong on this prediction as silver has already broken new highs. I think however Prechter will be proven correct, albeit belatedly, as I think we will see a 20-30% sell off in silver in the next few weeks as part of a healthy correction within the secular bull. However this will be driven by a sell off in the SPX and not due to silvers adverse fundamentals. Prechter doesnt know what he is talking about, but he will no doubt claim he is correct after the pull back.

 

For example, in the first 2 weeks of 2010, the SPX continued to rise in overbought territory, on the normal optimisim that the new year usually brings. There was then an 8% sell off over the next 3 weeks in to early Feb. However, at that time, silver wasnt over bought but due to its volatile nature it reacted by shedding 20% of its value. This was a healthy correction to burn off the complacent sentiment in the market and build a firm base for the spring rally.

 

I see this happening again and due to the fact that silver is very over bought currently, I can see a 30% sell off. This is nothing out of the ordinary and is part of the normal silver trend. To capitialise and in preparation, I did follow Bubb with a long dated short on the SPY, but I sold it after a chnage of heart. Trying to time the drop using time sensitve put options, in my view, is a mugs game. When the market is being artificially buoyed by QE2, the market could stay high for several weeks more than expected which could easily wipe out any post correction profits and possibly cause a trading loss.

 

I am planning to sell off the rest of my silver bullion by mid Jan to position myself for this expected correction. I sold off 50% at just over 30 bucks in mid December after silver reached very overbought territory at 1.5 x 200 dma. I will then be buying back in agressively once sentiment has become a little less complacent in the markets following the expected 10% SPX selll off and associated 20-30% silver correction. I expect silver to get to around $31.50 and pull back to between $22 to $25.