hey peat,
Bullish three drives formation thats a new one for me, i guess you learn something new everyday thanks for that, platinum also looking pretty good
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hey peat,
Bullish three drives formation thats a new one for me, i guess you learn something new everyday thanks for that, platinum also looking pretty good
Hi silver bugs, here is my 2 bits for what they are worth.
I say Forget the technicals, they mean little anymore in this manipulated fiat ponzi dollar doctored market. Psychology has taken over. You do not really know when Ben, GS and ECB friends are going to dump another few billion in junk paper onto the open cash market. e.g. if Ben, GS and ECB friends lollie scramble another couple hundred billion, you will see metal prices react as you would expect. ( TAF's & ECB 1/2 trillion) It really isn't liquidity though but rather a book entry on the balance sheet. Take Wiemar Germany, circa 1923. As that country's monetary problems worsened, the central bank (Reichsbank), in the delusional thinking of that day, helicoptered one-half trillion of Reichsmarks to provide liquidity. What happened next ? I think we all know, The only difference, today this is on a global scale.
1. These months leading through to March are the buying season for silver so you would expect to see some heavy buying.
2. Fiat ponzi dollar doctoring by Ben, GS and ECB friends are having a big but not permanent effect (like petrol on a fire).
3. How solvent are the banks ??
4. Current financial technicals have little meaning as there is no real measure to compare with.
5. Open contracts 21st Dec 07 (Silver futures and options) = 184,158 X 5000 = 920,790,000 oz of paper silver. These will eventually unwind just like the credit bubble derivatives are starting to do now.
6. S&P 500 Annual ROI = 4.96%
S&P 500 close on 12/27/06: 1426.84
S&P 500 close on 12/26/07: 1497.66
compared to iShares Silver Trust (SLV)
YTD Return Market Price @ 21/12/2007 = %12.43
All I can say is if you have the spare capital and can wait a year or three - buy and hold physical. The price starts bouncing around 1 dollar or 2 / oz and everybody gets excited. This is nothing compared to what will come. (yeah yeah - laugh it up) Remember – in 1980, a $1K face value bag of .90 silver (approx 720 oz of .999 silver) coins could buy a house (4 bedroom, ¼ acre) with change.
(NOTE : I am not an investment advisor but I believe it will be beneficial to have a percentage or your investment in silver)
reg Alec @ NZSilver
...with the ongoing enormous increase in the amount of paper money in mind (and a pick up in inflation in just a few months time -A SURE BET-), a study by Peter Millar in 2006:
""The Relevance and Importance of Gold in the World Monetary System"
concluded that a 'Seven-fold increase in gold [is] needed to avert debt depression'
excerpts: "In the second half of the 20th century we saw a repeat of the first three phases of the same cycle:
"-- Phase 1: Stability from 1944 to 1968 under a gold standard.
"-- Phase 2: Inflation from 1968 to 1981, which caused and justified another buildup of debt.
"-- Phase 3: Disinflation from 1981 until the end of the 20th century, and maybe to the present.
"However, it appears that Phase 4 (instability and ultimately deflation due to excessive debt) may have started. If so, Phase 5 (revaluation of the gold price to raise the monetary value of the world monetary base and hence reduce the burden of debt) becomes likely or inevitable. The extent of that revaluation would need to be major according to our calculations, probably by a factor of at least seven times, possibly up to 20 times the current price of gold."
read the full study here: http://www.gata.org/node/4843
Kind Regards
...I still remember when silver could be bought around US$12.00 and now this:
http://news.silverseek.com/TedButler/1201624211.php
Kind Regards
over this short time frame it appears that silver is outperforming the other metal.
Looks like a cup and handle on the daily chart will try to get a chart up but the beginning of the cup is on nov 5 end of cup at jan 13 handle from 13th to 22nd broke out of handle on 23rd and broke out of resistance on the 29th
yes I see what you mean Craig and it would appear to be working. Silver just had a strong run up , and as I pointed out earlier gold was not participating.
Allow me to post a pic of the cup and handle for you.
Thanks for that Peat... yeah its off to a good start so far... love your new avatar!
dont see many whole dollar days in Silver !!
So have closed a small percentage of the holding at $19. Thats 30% in 3 months so cant complain.