never seen silver rise so fast $24.31

never seen silver rise so fast $24.66



thought it was fitting to create such a thread

 

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For every yin, there is a yang.

 

If you look at the chart over the period of the past several months, what stands out is a pattern consisting of a series of declines followed by progressiively lower peaks, which from a technical standpoint is not a promising basis for taking a long postion, at least in the short term. This was a big move today to be sure, but probably is not the harbinger of sustained appreciation; the current volatility, to the upside notwithstanding, may actually be an indicator of the market simply being a bit thin now after so many speculators' positions were liquidated due to receiving margin calls when silver crashed 10 days ago.

 

Nice post, but I just had to say that I read this part of the post several times because it just makes me chuckle. That is all....carry on.

 

Y'all ain't bin lookin reel lawng if dis bee da fassis y'all ever seen it rise.

 

I got two complete sets of dimes from 1946-1963 for 17.30X face value, so I guess this dip has been good to me.

 

Turn, turn, turn.

Turn, turn, turn.

 

The market is way over-sold att. It has a ways to come back before testing resistance.

 

If there was any manipulation of the paper market going on, this would be the perfect example of it, and the things day traders dream of. Drop the price, buy a bunch more low, spike it a buck or two up, and sell off your higher dollar shares to take a "loss", while bringing your DCA down.

While the rise is nice, I'm not expecting this to continue and possibly dip more downward over the next week or two. Let it be said I have absolutely no clue or insight, I'm just making a wild guess and hoping for my own edification that it stays low, premiums come down, and I can add a little more silver for a decent price with next month's paycheck.

 

This was but a small hiccup on the road to $5 silver.

 

My LCM, because of yesterday's bump up, moved his 90% silver sales from 18x to 22x face. I guess he's ready to recoup some money.

 

If silver's moving fast it must be manipulation.

 

FYI, silver down about .70 cents per coinflation. So much for the gains from yesterday.

 

Exactly. Commodities are known for their very steady prices. Quick price movements are simply unheard of in pork bellies, FCOJ, or corn. Its unthinkable.

 

I think silver is much more volatile than gold. It's like quicksilver!

 

Yep, in a new dollar currency where each $100 bill is worth an ounce of gold, where a loaf of bread costs a dime and a gallon of gas costs a quarter

 

It looks like we will hold over $24, unless there is another crash today. I don't know what that means, but I thought I would mention it so that others can comment on it.

 

I'd say it means you've covered all the bases. It will either be over $24 at the end of the day, or it won't...

 

No idea either. I think the keys would be what happens to stocks, and the dollar.

Personally, I also see real estate prices increasing pretty dramatically where I live as well. This could be another place money flows back into.

This is the conundrum with PM pricing, especially silver. Its such a intermingled web of traditional purchasing by industry and collectors, mingled with PM stackers, mingled with "hot money" commodity investors. Its why its always so hard to figure out.

I view mid 20's as an acceptable price point for silver. I am not going crazy at the price point, but am comfortable enough to buy bullion pricing related items at it. I do not think I am getting a "deal", yet am unafraid of downside since I am buying them for semi-numismatic enjoyment. So I am somewhat neutral.

Future potential? Upside is always the path of least resistance for PM because of the builtin inflation factor. PM is EXPECTED to go up with inflation, as costs of production increase long term. So, long term I expect silver to be up. Short term who knows, I would say I am 25-50-25 in expectations of $(17-20)-($23-27)-($28-32) price brackets. I know some are more bearish, and they could be right, but I simply feel they are underestimating the major input cost increases that have been built in to the industry.

Surprised Inflexion? I never said I fully agreed with the pricing, but I would expect this.

 

Not so surprised. I think you did a great job detailing the different influences in metal markets. I would agree that mid 20's are about right if cost of production is the sole factor, but as we know it is not. Physical dealers right now are adhering to the futures price with generic metal, but not government bullion or 90% in most cases. Ultimately if people are selling paper and buying physical that's a disconnect in and of itself regardless of price. I don't really have any price expectations at this point and am just buying what I can get for cheap because I don't think this can last, but if it does at least I am buying for cheaper than I have been. My target is post-dollar so I don't have a lot of concern about prices until all the debt and leverage rebalances down the line.