Hi Ho "SILVER"

[peat]

Even if it is a descending triangle formation does this really look like it is adhering to the plan?

Attachment 4178

Dare I suggest it has broken the descending edge, the hypotenuse, on the upside and the descending triangle has failed. There's always a point in time at which any interpretation should be rejected especially a pattern based one.

Agree that there is a massive SR line around that 27 area now tho, and if price remains on the upside of it then its a massive support level working for the bulls.


Oh and the chart is weekly candles against USD

[Skol]

peat,

The USD is up against the Euro and I wouldn't be betting on the little spike upwards, probably a bulltrap.

[Skol]

Jb,

A poster on HC bought 400,000 one ounce silver coins on the 9th.
Let's see how that one goes.

[skid]

Guess the starting point for your little exercise would be around $32 spot?
Im assuming you think he will be in for a fleecing.
Wondering what his time frame is

[JBmurc]

Jb,

A poster on HC bought 400,000 one ounce silver coins on the 9th.
Let's see how that one goes.

So is this the 2013 bet... I believe his silver bullion will be worth more that what he paid by end of 2013 and you think it will be less than $32 ??? $100

[skid]

Jb,

A poster on HC bought 400,000 one ounce silver coins on the 9th.
Let's see how that one goes.

so far so good

[denpal]

Maurice Hubbartt latest at www.321gold.com.

[peat]

totally agree denpal
I posted my version in the Forex Forum.
hadn't seen this , but yes its my thoughts that the pullback was an opportunity.

[JBmurc]

" According to the data provided by the 2012 World Silver Survey, total global silver investment demand has risen from only 31.6 million oz in 2002 to a staggering 282.2 million oz in 2011.

As world economic fiat based monetary system continues to deteriorate, investors are taking delivery of physical silver rather than holding on paper contracts that may not be backed by any metal whatsoever.


This has created a run on the LBMA bank... the largest metal exchange in the world. Evidence of this can be seen by the huge increase of U.S. silver bullion exports to the United Kingdom. In 2011, the U.S. exported a mere 19 metric tonnes to London. However, in just four months (May-Aug), the U.S. has exported 291 metric tonnes to the LBMA vaults in the UK.. "

[skid]

he derivative market is just plian scarey--Its a lose cannon
This is from an articl attempting to explain the derivatives market


Large notional value

Derivatives typically have a large notional value. As such, there is the danger that their use could result in losses for which the investor would be unable to compensate. The possibility that this could lead to a chain reaction ensuing in an economic crisis was pointed out by famed investor Warren Buffett in Berkshire Hathaway's 2002 annual report. Buffett called them 'financial weapons of mass destruction.' The problem with derivatives is that they control an increasingly larger notional amount of assets and this may lead to distortions in the real capital and equities markets. Investors begin to look at the derivatives markets to make a decision to buy or sell securities and so what was originally meant to be a market to transfer risk now becomes a leading indicator.(See Berkshire Hathaway Annual Report for 2002)

Apparently the putative value orf the derivatives market is greater than the value of the world economy

http://resourceswire.com/2012/11/the...-must-be-paid/

be afraid -be very afraid