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SIlver futures;

Silverpennant.png

 

Strong resistance at $26 and the downward sloping trendline should see a resolution this year.

 

 

 

 

18 month cyclical bear market, within a secular bull?

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Like Silver Wheaton, many silver stocks are looking rather good now

 

GDX is still in a downtrend ... update

 

22522680.png

 

One of my favorite Silver stocks:

 

SLW / Silver Wheaton looks a bit better ... update

 

slw.png

 

Here's hoping that SLW will break above the 1yr/252d MA

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http://www.silverdoctors.com/harvey-organ-the-moment-london-is-out-of-silver-the-comex-will-be-out-in-a-nano-second/

 

Harvey Organ.... discussed recent reports that the LBMA is refusing to deliver silver outside of the LBMA system: They won’t deliver it outside of the system because there is no silver! That’s a real crisis! The moment London is out of metal, the COMEX will be out in a nano-second!

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Early spring for silver?

 

The rise in physical seems to be on a low volume (100,000 a day with 5 times that appearing more typical since February according to NetDania), and on the daily chart the RSI is at 78. I am expecting a slight fall back over the next week to 28.50 or 29. Can anyone confirm to a newbie that the rise of 8.5% in a week on low volume is typically a sign that a slight correction is due?

 

silver2012082012.jpg

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JFK signed the executive order for silver currency and it's still in force!

http://jhaines6.wordpress.com/2012/08/18/neil-keenan-responds-to-a-readers-comment-under-his-post-cease-desist-of-august-16-2012/

 

.... On June 4, 1963, Kennedy signed Executive Order 11110 which held the authority to strip the Federal Reserve Bank of its power to loan money to the United States Government at interest.

 

With Kennedy’s signature, he declared that the Federal Reserve Bank would soon be out of business.

 

To this very day the Executive Order has never been repealed, amended or superceded by any subsequent Executive Order. It is still valid.

 

.... Here is Executive Order 11110, Amendments etc……Executive Order 11110

 

AMENDMENT OF EXECUTIVE ORDER NO. 10289 AS AMENDED, RELATING TO THE PERFORMANCE OF CERTAIN FUNCTIONS AFFECTING THE DEPARTMENT OF THE TREASURY.

 

By virtue of the authority vested in me by section 301 of title 3 of the United States Code, it is ordered as follows:

SECTION 1. Executive Order No. 10289 of September 19, 1951, as amended, is hereby further amended – (a) By adding at the end of paragraph 1 thereof the following subparagraph (j): ‘(j) The authority vested in the President by paragraph (b ) of section 43 of the Act of May 12, 1933, as amended (31 U.S.C. 821 (b )), to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury not then held for redemption of any outstanding silver certificates, to prescribe the denominations of such silver certificates, and to coin standard silver dollars and subsidiary silver currency for their redemption,’ and (b ) By revoking subparagraphs (b ) and (c ) of paragraph 2 thereof. SECTION 2. The amendment made by this Order shall not affect any act done, or any right accruing or accrued or any suit or proceeding had or commenced in any civil or criminal cause prior to the date of this Order but all such liabilities shall continue and may be enforced as if said amendments had not been made.

 

JOHN F. KENNEDY

THE WHITE HOUSE,

June 4, 1963

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i asked Clif High about this article on the executive order for silver-backed currency:

http://jhaines6.wordpress.com/2012/08/18/neil-keenan-responds-to-a-readers-comment-under-his-post-cease-desist-of-august-16-2012/

 

This is his reply:

have not read this, but is true that JFK signed EO just 30 days before cabal did him in....there were 3 EO's in question. 1 for silver/gold backed, US gov't printed currency with no debt attached, 2= for release (to him at least) of all UFO info held at security clearances higher than his, and i don't remember the third....but was something to do with investigations into mil sub contractors (i think)...

clif

 

Gee!

I was always under the impression that they did JFK in BEFORE he signed the EO.

It's something I never checked out.

Now if we can find a legal eagle to confirm that the EO is still valid .....

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The rise in physical seems to be on a low volume (100,000 a day with 5 times that appearing more typical since February according to NetDania), and on the daily chart the RSI is at 78. I am expecting a slight fall back over the next week to 28.50 or 29. Can anyone confirm to a newbie that the rise of 8.5% in a week on low volume is typically a sign that a slight correction is due?

I kind of hope so, but doubt it. An elderly aunt asked me about investing in silver, and I told her to think about it a bit as one has to be careful about financial things with elderly relatives. Anyway sure enough, silver wakes up and heads north a bit; and though it may consolidate, it may equally carry on slowly upwards as it has been in a downward consolidating trend for so long, and now the season is right for it to start strengthening.

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I kind of hope so.

 

Everything I read about silver is very bullish at the moment, it is hard to find a bear argument anywhere. However it seems to me that silver was range trading at this level from 10/2008 until 10/2010. It is currently back within that area, so there may be significant resistance at the green arrow and this rise is due to the bounce of the 144 MA.

 

silverweekly20120902.jpg

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The pound (£) used to correspond to one Troy pound of silver.

Also, we have 12 Troy ounces per Troy pound, and an old pound was 240 pennies.

 

Now we're back over 20 quid per Oz.

So, now we're at 20 x 12 = 240 quid per Troy pound.

 

This is interesting, as there were 240 pence-in-the-pound (predecimalisation).

One quid is now thus worth the old value of one silver-standard penny.

 

LOL.....

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Everything I read about silver is very bullish at the moment, it is hard to find a bear argument anywhere. However it seems to me that silver was range trading at this level from 10/2008 until 10/2010. It is currently back within that area, so there may be significant resistance at the green arrow and this rise is due to the bounce of the 144 MA.

 

silverweekly20120902.jpg

Nice chart. Any chance of doing it on a log chart?

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Any chance of doing it on a log chart?

 

Unfortunately that is not easy on the NetDania chartstation software as it doesn't allow any annotations (trend lines, fib retrace etc.) at all when viewing in log format. Maybe I am missing a setting somewhere. I have drawn in the lines using Paint instead, so they will not be very accurate.

 

silverweekly20120904log.jpg

 

It does seem to give a very different perspective on things. That chart looks like we are safely in the breakout and heading back for the range trading where we will reach it again at ~USD50.

 

I am changing from cautious to bull in the space of a log chart - thanks for asking for the log version. Are you reading that in a similar way to me?

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It does seem to give a very different perspective on things. That chart looks like we are safely in the breakout and heading back for the range trading where we will reach it again at ~USD50.

 

I am changing from cautious to bull in the space of a log chart - thanks for asking for the log version. Are you reading that in a similar way to me?

Thanks Klogger. That's the chart screaming bullish. Yes, reading in a similiar way; I reckon the next year will see silver push back to 50, and then a year or so after that break out and spike to 100. I heavily bought silver on this dip, and will be putting in sell orders on silver at 90 or 100 once silver strengthens to 50 odd. Because taking the previous pattern into account silver could easily spike to 100 only to consolidate back to 50.

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I'm really not sure about your target of 600, but I agree that we've recently had a good entry point. I bought on Friday at a price of $52.86. I decided to buy based on a belief that QE3 will push the price of silver/gold up (I also hold physical), and various SMA charts suggested a low was approaching. I got a nice move up after purchase on Friday and on Monday, while it fell back a bit today. I'm happy with the timing, and my target is only around 70. I'm not expecting to hold for long, but as always, things can change. I'm playing with money inside my "trading account" here, it's a relatively small amount and I'm happy to take on more risk than my other portfolios.

 

Well, this AGQ trade didn't play out how I expected, but I think we are finally on track. I suppose I was silly to ignore silver's seasonality. However, when AGQ dipped, I was able to buy a lot more in the $35-$40 range, averaging down substantially. I'm now 20% up, and bullish. I'm still targeting 70, but we will see. I have quite a lot tied up with this trade, thankfully, I can't see anything that appeals to me more.

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(not sure what this means)

 

 

Bill Murphy sat down with Elijah Johnson to talk about the pending JP Morgan/Silver "Announcement" that is looming on the horizon. Here's the interview:

 

http://www.roadtoroo...public/1003.cfm

 

Make no mistake, announcing that the largest bank in the world and the largest derivative player in the world is being busted for manipulating the silver market is a Global Game Changer. And I mean GAME CHANGER. As in an instantaneous rush into silver. As in an instantaneous destruction of anyone holding a silver short position. As in ZERO sellers of silver at any price. As in an instantaneous monetary implosion. As in an instantaneous banking run.

 

And as in an instantaneous rise in the status of the Ron Paul for President campaign.

 

Yes, the game is still being played...it's just gonna be a harder transition than we had hoped. What's that song "I beg your pardon...I never promised you a Rose Garden"!

 

This week I will layout a new 90-day timeline for Private Road Members as we count down to the End of the World as We Know It.

 

 

Posted by John MacHaffie

 

Watch For A Fed "Mistake" Tomorrow

 

Hello All:

Bix says watch for the Feds. Announcement tomorrow it may be interesting.

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svvvv.png

 

:rolleyes:

 

It was certainly an eventful today. So, with QE3 announced, how high is this going to go? I see this double-whammy of seemingly infinite QE and the traditional seasonality in PMs to be very, very exciting.

 

I now see us entering a phase of steady appreciation until mid Feb, with the occasional mini-smackdown to keep us on our toes. I've said before I was targeting 70, but this ETF certainly moves quickly - I now think that will be reached within weeks. 80 by the end of year is possible, 90 by mid Feb (end of favourable PM seasonality).

 

Longer term than that, I think the patient will be further rewarded. Eventually I expect some form of regional credit event or restructuring,to contribute to a spike. I don't know what form this will take, but they will be no doubt when it happens.

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It was certainly an eventful today. So, with QE3 announced, how high is this going to go? I see this double-whammy of seemingly infinite QE and the traditional seasonality in PMs to be very, very exciting.

 

I now see us entering a phase of steady appreciation until mid Feb, with the occasional mini-smackdown to keep us on our toes. I've said before I was targeting 70, but this ETF certainly moves quickly - I now think that will be reached within weeks. 80 by the end of year is possible, 90 by mid Feb (end of favourable PM seasonality).

 

Longer term than that, I think the patient will be further rewarded. Eventually I expect some form of regional credit event or restructuring,to contribute to a spike. I don't know what form this will take, but they will be no doubt when it happens.

 

Perhaps the hardest part of the trade, besides having sat in dollars and waited for the spike to correct, will be holding on to the position, It will be very tempting to sell at 80, or 100, or then again at 200 and then 400. :rolleyes:

 

My exit plan consists of being able to buy an apartment in the capital, and with plenty of capital spare. Could be another year or so in the camper..

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I am trying to hold onto my UGL trade

 

I bought 60x Bull Spreads : UGL-$90 / UGL-$100, and just sold 18cts, to pay for the whole trade

 

Just lately, my Overall account has been rising by $20-40,000 per day,

and I feel a need to take some profits here and there

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I am trying to hold onto my UGL trade

 

I bought 60x Bull Spreads : UGL-$90 / UGL-$100, and just sold 18cts, to pay for the whole trade

 

Just lately, my Overall account has been rising by $20-40,000 per day,

and I feel a need to take some profits here and there

 

Sure, but a Jesse Livermore quote comes to mind... something along the lines of letting your winning position run. And this from a trader.

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silvercheck.png

 

 

agqcheck.png

 

 

Comparing AGQ to silver, you can see the 'time decay' element in the leveraged ETF. Though excellent for short/ medium term volatility, time decay may make it more problematic for sititng on. To hedge the risk of this, I've decided to trade half the position; take a 50% profit on half, and re-invest after a period of consolidation. Even though this may mean buying at a higher price, the point of the hedge trade is to increase a US dollar position.

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...

To hedge the risk of this, I've decided to trade half the position; take a 50% profit on half, and re-invest after a period of consolidation. Even though this may mean buying at a higher price, the point of the hedge trade is to increase a US dollar position.

Does "take a 50% profit on half" = "Sell 25% of the total" ?

 

You may find this article useful...

 

 

http://www.zealllc.com/2012/silvseas2.htm

 

Zeal091412A.gif

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