Silver breaks $38, continues strong

[Original_Intent]

Crazy. :D Where can I follow the dollar index?

[Kelly.]

downwards trends are manipulation, but gains are legit?

i have a feeling someone is being setup, and i doubt its the banks ;)
good luck.

[Original_Intent]

Since I bought everything in the $12-$18 range, I am not too worried. And I did sell 1/3 off at $31 (:() so I'm feeling pretty well covered.

I think the upward trend is the market largely overwhelming the manipulation, yes. With the big up moves, I expect there will be corrections and profit taking. There were plenty of nay-sayers at $20 also - their loss.

[AuH20]

Silver's historical ratio to gold should have the price easily over $150. This is just a natural correction which we are witnessing.

[cubical]

downwards trends are manipulation, but gains are legit?

i have a feeling someone is being setup, and i doubt its the banks ;)
good luck.

What are the bank doing?

[Bern]

Where can I follow the dollar index?

http://www.weblinks247.com/indexes/idx24_usd_en_2.gif

[Mogambo Guru]

http://i777.photobucket.com/albums/yy51/jjennen/gold%20chart/goldsilver.jpg

[Original_Intent]

Bern, how do you access that chart at kitco? Sorry I can't find it.

[swissaustrian]

Looks like Blythe M. returned from vacation...

[johndoh]

Crazy. :D Where can I follow the dollar index?

http://www.marketwatch.com/investing/index/dxy

[Bern]

Bern, how do you access that chart at kitco? Sorry I can't find it.

I lifted it from another website. I don't know how to find it directly on the kitco site. You can also check the marketwatch site johndoh listed (or search for another site by googling DXY chart).

[AZKing]

Crazy. :D Where can I follow the dollar index?

http://goldprice.org/silver-price.html has good graphs. Click on 'Instruments' on the top left corner and you can choose 'US Dollar Index'

[Kelly.]

What are the bank doing?

i dont know for sure, but i am always cautious when up against banks.

[Seraphim]

If you take a look at the prices moves very closely you will see a few distinct trends:

1) Upward moves tend to be steady on daily charts. VERY rarely is there a vertical spike up.

2) When the big price movements downwards occur in PM's, particularly silver, it's like watching a cliff on a chart. HUGE vertical down slopes.

3) This is not occasional, it's very very distinct. Very close to 100% of the time upward moves are not vertical. Very often when huge down spikes happen, it occurs in a 2 hour block and they occur like a cliff drop.


downwards trends are manipulation, but gains are legit?

i have a feeling someone is being setup, and i doubt its the banks ;)
good luck.

[YumYum]

i dont know for sure, but i am always cautious when up against banks.

Don't worry. Max Keiser has that covered.

[Seraphim]

Actually the banks are losing.

JPM in particular has resorted to covering it's monumental short position loses by trying to corner the copper market with long positions.

I.e. The market place is winning.



i dont know for sure, but i am always cautious when up against banks.

[swissaustrian]

The reason for todays "flash crash" was a margin hike:
http://www.zerohedge.com/article/and-clockwork-cme-hikes-silver-margins-halting-surge
I´m fine with a roughly -0,5% on a day with a margin hike.

[Seraphim]

Manipulation confirmed.

On a big up day, why not manipulate demand by raising margins? Booya. For the steady, paycheck buyer this helps you for a couple of days. As usual this is only shaking out weak hands and the bull will continue to buck without much resistance.



The reason for todays "flash crash" was a margin hike:
http://www.zerohedge.com/article/and-clockwork-cme-hikes-silver-margins-halting-surge
I´m fine with a roughly -0,5% on a day with a margin hike.

[Seraphim]

So far the early pacific markets are lopping up the selloff. Once the Australian, Hong Kong and general Chinese markets are all open we'll have a better idea though.

http://www.kitcosilver.com/

[Bern]

Well, I BTFD, so it's all good as far as I'm concerned.

[Seraphim]

HAHAHAHHAHAHA

For a second I didnt get the accronym, then it clicked. I laughed. Nice.



Well, I BTFD, so it's all good as far as I'm concerned.

[Seraphim]

http://www.kitcosilver.com/

Smart Asians.

[LibForestPaul]

Strange coincidence, if one looks at the silver charts, it appears silver started upward swing some time Jan 18 - 20. Jan 18 was also meeting of Finance Stability Council...with our good friends from the Fed, SEC, FHA

[Bern]

..., then it clicked. I laughed. Nice.

:)

Silver climbing back early this morning. Looks like the CME margin limit raise had a half life of less than 12 hours.

[Mogambo Guru]

Holy moly, PM prices look volitile today...
http://www.chartseeker.com/images/AU-24HR-LG.png?r=292149717633.14575

[LibertyRevolution]

Don't worry about daily...


http://www.kitco.com/LFgif/ag3650nyb.gif
http://www.kitco.com/LFgif/au3650nyb.gif

[Mogambo Guru]

Mogambo does not worry about his gold/silver... Just observing todays action. ;)

[LibertyRevolution]

It is nice to see the gold/silver ratio getting lower.
I hope it keeps going, wouldn't mind an opportunity to swap out some silver for gold.
When it was up at 68:1 I swapped my 2oz of gold for 130 1oz silver rounds at the coin shop here.
If we get down to like 20:1 I will be dancing in the street.

P.S. Anyone that is buying PM to make a profit in dollars. Your doing it wrong.

[Original_Intent]

I am a little embarrased by the "continues strong" part of the thread title. LOL, right after posting, it tanked and really wasn;t above $38 for long at all.

[acptulsa]

I am a little embarrased by the "continues strong" part of the thread title. LOL, right after posting, it tanked and really wasn;t above $38 for long at all.

What, you don't think it takes strength to fight that kind of manipulation? ;)

[Bern]

It'll be back within a week or two.

[swissaustrian]

Compare yesterdays chart to todays:
http://www.kitco.com/charts/livesilver.html
Parallel moves. If this continues throughout the next hours, we will have second sell-off in about 20 minutes...

Btw:$ gaining against € and CHF simultaneously.