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Thread: Short term metals direction?

  1. #31

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    Quote Originally Posted by thoughtomator View Post
    If you're trading day-to-day, you can pretty much count on intervention to slap down the price of silver whenever it goes above $35. It practically begs a trading strategy of shorting silver whenever it goes above, and going long when it drops below. If you'd played that over the past few weeks you'd have made a ridiculous amount of money off it.
    Hmm there are a couple of rules in trading that actually endorse this:

    1. Sell high and buy low
    2. Never try to catch a falling knife
    3. Always listen to people with a tomato in their name
    If you tell a lie long enough, loud enough and often enough, the people will believe it.-------Adolf Hitler



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  3. #32

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    With Colorado and Washington, I expect Metal Halide to spike?

    It does not require a majority to prevail, but rather an irate, tireless minority keen
    to set brush fires in peoples minds! Revolution is Action upon Revelation!

    The small green parakeet, Tito, was flung helplessly from the cage, landing on the floor. When a girl screamed, the officer sneerd:
    "F*** THE BIRD !!!"
    ...and stomped on it with his jackboot. READ MORE: http://www.policestateusa.com/2013/n...lugo-parakeet/


  4. #33
    Site Staff - Moderator Brian4Liberty's Avatar
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    Gold and silver dropping just a little, but the rest of the market is crashing. The Obama Dump!
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Corporate-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
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  5. #34

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    Quote Originally Posted by Brian4Liberty View Post
    Gold and silver dropping just a little, but the rest of the market is crashing. The Obama Dump!
    SWHC and RGR are up as well.

  6. #35
    Site Staff - Moderator Brian4Liberty's Avatar
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    $29.44 silver today.

    What to do now? Back up the truck to buy under $30, or panic sell?
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Corporate-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul


  7. #36

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    Quote Originally Posted by Brian4Liberty View Post
    $29.44 silver today.

    What to do now? Back up the truck to buy under $30, or panic sell?
    Short term silver might go to 28 or even lower. Speculative positions in silver in the paper markets haven't been flushed out yet like they should: http://www.pmbug.com/forum/f13/open-...html#post18904 Technically silver is oversold as of today, however. Tommorow at 2pm ET, the FED posts their January minutes: http://www.pmbug.com/forum/f2/fomc-t...html#post18909 I'd wait for the outcome of that before purchasing anything. It might cost you 50c per oz but it might also save you $1.5.

    For gold, the picture is totally different, I think 1600 is the bottom: http://www.pmbug.com/forum/f13/im-ca...tom-gold-2128/
    Speculators have fled the gold market already. The physical market is ultra tight as indicated by rapidly falling forward rates: http://www.pmbug.com/forum/f2/negati...html#post18806
    and backwardation in the April futures contract: http://www.pmbug.com/forum/f2/april-...ardation-2130/
    The FED could still cause damage to gold tomorrow, though.

  8. #37

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    Silver down to $28.50. I'm not sure what's going on, but my guy won't sell this cheap... Grrr...

    I'm expecting a jump anytime now, but I'm not sure why it hasn't happened, yet. I was expecting this dip and planned on using it to buy, but right now, I'm a little flummoxed. Anyone care to explain?
    "And now that the legislators and do-gooders have so futilely inflicted so many systems upon society, may they finally end where they should have begun: May they reject all systems, and try liberty; for liberty is an acknowledgment of faith in God and His works." - Bastiat

    "It is difficult to free fools from the chains they revere." - Voltaire

  9. #38

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    Quote Originally Posted by CaptUSA View Post
    Silver down to $28.50. I'm not sure what's going on, but my guy won't sell this cheap... Grrr...

    I'm expecting a jump anytime now, but I'm not sure why it hasn't happened, yet. I was expecting this dip and planned on using it to buy, but right now, I'm a little flummoxed. Anyone care to explain?
    Options expiry is on monday. That's why all pm prices are magicly pegged to round numbers today, gold to 1575, silver to 28.5 and platinum to 1600.
    It works like this: a bank sells options to clients. Options are contracts that offer a client the right to purchase an underlying asset at a point of time in the future. The price of the future purchase is fixed at the day the option is created, it's called the strike. The customer of the option pays the bank a fee for that, called the premium E.g.:
    On August 1st 2012, Bank A offered customer B to purchase 5000 oz of silver for $29/oz on January 25th 2013. B therefore paid 2% of the transaction value to the bank as the premium. Bank A will therefore cash in the premium and the options will expire worthless on January 25th IF the price of silver is at or below $29 (+2% premium).

    The formula for the Bank to make money by selling options is therefore:
    At the expiry date, move the price of the commodity right to the level with the highest number of outstanding options. This way, the bank can cash in the premium and the customer loses it.


    You would assume that such manipulative behavior would be visible on a price chart. You bet it is, see (as an example) this gold chart back from 2011. Options expiry dates often marked monthly lows for gold:

    Last edited by swissaustrian; 02-22-2013 at 10:05 AM.

  10. #39

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    Be very careful if you are short term trading metals right now - there is over-the-top blatant manipulation in progress recently, details here:

    http://www.zerohedge.com/news/2013-0...orning-mugging
    “If ye love wealth greater than liberty, the tranquility of servitude greater than the animating contest for freedom, go home from us in peace. We seek not your counsel, nor your arms. Crouch down and lick the hand that feeds you; May your chains set lightly upon you, and may posterity forget that ye were our countrymen.”

    - SAMUEL ADAMS

  11. #40
    Site Staff - Moderator Brian4Liberty's Avatar
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    Quote Originally Posted by thoughtomator View Post
    Be very careful if you are short term trading metals right now - there is over-the-top blatant manipulation in progress recently, details here:

    http://www.zerohedge.com/news/2013-0...orning-mugging
    Good article, and good advice. I.e. always buy on Monday morning.
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Corporate-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul


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