aardvark Posted May 1, 2011 Report Share Posted May 1, 2011 lol - this is just getting silly. Link to comment Share on other sites More sharing options...
Fortune Posted May 2, 2011 Report Share Posted May 2, 2011 It's not silly, its epic! Who wants to bet we erase all the losses and finish in the green by NY close time? Back to 45 now... Link to comment Share on other sites More sharing options...
Fortune Posted May 2, 2011 Report Share Posted May 2, 2011 Maybe this has something to do with it: In what could be a precursor to much higher margins at the Chicago Mercantile Exchange, MF Global on Friday [29Apr11] raised its margins on one contract of silver from $14,513 to $25,397, an increase of 75 percent. http://www.cnbc.com/id/42828370 Link to comment Share on other sites More sharing options...
warpig Posted May 2, 2011 Report Share Posted May 2, 2011 That drop screams of manipulation whether it's a margin hike or not... Epic is a good choice of word! They must be getting desperate. Link to comment Share on other sites More sharing options...
Fortune Posted May 2, 2011 Report Share Posted May 2, 2011 Or maybe it's this: http://www.marketwatch.com/story/osama-bin-laden-is-dead-reports-2011-05-01-2321470 Link to comment Share on other sites More sharing options...
G0ldfinger Posted May 2, 2011 Report Share Posted May 2, 2011 Oh, uh, Osama has been killed, no wonder silver had to drop. The margin increase is an embarrassment to CONmex IMHO. They should just shut shop and let the spot markets take over. Link to comment Share on other sites More sharing options...
G0ldfinger Posted May 2, 2011 Report Share Posted May 2, 2011 The CoNmex must be cr@pping their pants for such a huge margin increase. Some hedgies must smell the bl00d now, I would think. Link to comment Share on other sites More sharing options...
carbon junkie Posted May 2, 2011 Report Share Posted May 2, 2011 The CoNmex must be cr@pping their pants for such a huge margin increase. Some hedgies must smell the bl00d now, I would think. Yes, this is getting ugly now Link to comment Share on other sites More sharing options...
Errol Posted May 2, 2011 Report Share Posted May 2, 2011 As Keiser says, I think the Comex is fighting a losing battle. The cash buyers have the upper hand. Keep on buying physical. Link to comment Share on other sites More sharing options...
G0ldfinger Posted May 2, 2011 Report Share Posted May 2, 2011 As Keiser says, I think the Comex is fighting a losing battle. The cash buyers have the upper hand. Keep on buying physical. Yes, and the biggest cash market (LBM) is closed today. Link to comment Share on other sites More sharing options...
Errol Posted May 2, 2011 Report Share Posted May 2, 2011 The battle for silver is not the old Hunt Brothers high of $50. The real battle for Silver is to decisively break above the price of JP Morgan’s stock price. JPM has used its own stock to collateralize naked shorts against Silver so if the price breaks above JPM’s stock price, it’s an Enron type collapse for JPM’s stock (and US dollar). I’ve said this for more than a year now – so the current struggle to break free of the JPM stock price was anticipated. This level will fall and then the $50 level will be taken out quite quickly as we march toward $500 and the collapse of the US dollar. - Max Keiser http://maxkeiser.com/ Link to comment Share on other sites More sharing options...
Errol Posted May 2, 2011 Report Share Posted May 2, 2011 SLA takes out $46. Major assault planned for $47 later today. The world now understands the silver ‘SLA put.’ Sell all you want, we’re buying SIZE!!!! http://maxkeiser.com/2011/05/02/sla-takes-out-46-major-assault-planned-for-47-later-today-the-world-now-understands-the-silver-sla-put-sell-all-you-want-were-buying-size/ Link to comment Share on other sites More sharing options...
G0ldfinger Posted May 2, 2011 Report Share Posted May 2, 2011 Silver's making a comeback right now. Link to comment Share on other sites More sharing options...
electroweak Posted May 2, 2011 Report Share Posted May 2, 2011 Silver's making a comeback right now. Yup, I think it might even end up in the green. I am happy either way (enough cash to benefit if it slides, enough silver to benefit if it goes up.) Link to comment Share on other sites More sharing options...
G0ldfinger Posted May 2, 2011 Report Share Posted May 2, 2011 Yup, I think it might even end up in the green. I am happy either way (enough cash to benefit if it slides, enough silver to benefit if it goes up.) I start to think that silver breaking $50 could lead to a real short squeeze. I mean the kind of $100/oz up in a week's time. Link to comment Share on other sites More sharing options...
huntergatherer Posted May 2, 2011 Report Share Posted May 2, 2011 Spot Silver Drops 12% In 11 Minutes As Bulls Routed. SYDNEY—Spot silver suffered one of its most severe drops on record early Monday, as bulls who have driven the metal up to 31-year records failed to carry it above $48 a troy ounce and were routed in a headlong collapse. The metal fell 12% in just 11 minutes when the fall was at its most severe. Spot silver saw its informal open at $47.863/oz before rising to a peak of $48.150/oz; it then sold off sharply to a base of $42.210 before stabilizing. Jonathan Barratt, director of Commodity Broking Services in Sydney, said the sell-off repudiated bulls who were suspected of driving the price up to sell their own positions at a profit. "You've had the technical move now and people will start to backfill that with fundamentals," he said. http://online.wsj.com/article/SB10001424052748704569404576297840351753636.html#articleTabs%3Darticle Link to comment Share on other sites More sharing options...
lyb Posted May 2, 2011 Report Share Posted May 2, 2011 Back to the old ugly days. I recommend selling silver at every high. It is heading to the 200DMA (28$). Link to comment Share on other sites More sharing options...
G0ldfinger Posted May 2, 2011 Report Share Posted May 2, 2011 Today is a paper charade only. Tomorrow the LBM will have to confirm this. I don't say it won't happen. IMO, silver will become a super-strong buy should the ratio fall back to 60:1 levels. Link to comment Share on other sites More sharing options...
G0ldfinger Posted May 2, 2011 Report Share Posted May 2, 2011 Spiritual levels of volatility, were Sinclair's words. That's what we'll get. Link to comment Share on other sites More sharing options...
CIGA Posted May 2, 2011 Report Share Posted May 2, 2011 Just put buy order in with Goldmoney and will continue to if the price of silver drops - have plenty of dry powder and was waiting for something like this.. hoping a drop below 40 without any fundamental reason to continue to top up. Link to comment Share on other sites More sharing options...
Perishabull Posted May 2, 2011 Report Share Posted May 2, 2011 from Zerohedge Sprott Sells $35 Million Worth Of PSLV Across Different Funds In Week Between April 18 And April 25 In addition to all the already highlighted factors (margin hikes, Cramer buy recommendations, Chinese slowdown concerns, etc.) another possible reason why silver holders (at least of the recent variety, those who have been long since ~$10 could not care less) recently have had a difficult time with estabilishing positions in a suddenly very volatile silver market, is that according to a recently released 13-D by Sprott Asset Management, the head of the world's first silver physical ETF has taken profits on over 1.6 million shares of PSLV, across various funds, for total proceeds of just over $35 million, including up to $6.4 million for personal gain by Sprott. Link to comment Share on other sites More sharing options...
romans holiday Posted May 2, 2011 Report Share Posted May 2, 2011 from Zerohedge Sprott Sells $35 Million Worth Of PSLV Across Different Funds In Week Between April 18 And April 25 Hang on a sec. Isn't Eric Sprott, an uber silver bug/bull in the media? And if the above is true, wouldn't that leave him open to charges of "ramping" in order to profit form it? Link to comment Share on other sites More sharing options...
romans holiday Posted May 2, 2011 Report Share Posted May 2, 2011 Back to the old ugly days. I recommend selling silver at every high. It is heading to the 200DMA (28$). Could well do. Mid 20s, perhaps lower, could possibly be a good buying/ trading opportunity. Given the recent explosive move upwards, this has to be considered possible. Link to comment Share on other sites More sharing options...
Errol Posted May 2, 2011 Report Share Posted May 2, 2011 Exchange raising the margins again. Hilarious activity. Carry on buying physical. Anyone playing paper silver here or trading on margin needs their head examined. Link to comment Share on other sites More sharing options...
Jake Posted May 2, 2011 Report Share Posted May 2, 2011 Could well do. Mid 20s, perhaps lower, could possibly be a good buying/ trading opportunity. Given the recent explosive move upwards, this has to be considered possible. 'Out at 17.90' (just pulling your leg)No doubt mine will be pulled, too. Nice to see you back btw. Not missing your kimchee with becquerrels, then? I could send you some? Link to comment Share on other sites More sharing options...
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