Silver About to Blow Up(wards)?

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Silver About to Blow Up(wards)?

Friday, July 1, 2011

The Silver Setup Needs A New Descriptive Catch Phrase

 

I've used phrase such as watch out and shock and awe to describe the setup in silver. After today's numbers, I add holy sh*t, batman to the hat of descriptive catch phrases. Certain interests are professionally buying this decline as the public slumbers through another lazy summer.

There's still some retail meat on the table. The once prime cuts are beginning to resemble table scraps.

Silver London P.M Fixed and the Commercial (C) & Nonreportables (NR) Traders COT Futures and Options Stochastic Weighted Average of Net Long As A % of Open Interest

Watch out, Shock and Awe, and Holy Sh*t, Batman this is a bullish setup.

Updated 07/02: Silver London P.M Fixed and the Silver Diffusion Index (DI)

Silver is a powder keg awaiting a technical trigger.

EDEGROOTINSIGHTS.COM

 
Edited by admin on 11/08/2014 - 06:09

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R man J
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Let the bodies hit the floor

What will the price of gold be when the AU/AG ration hits 10:1?

Bill Haynes said it is not "maybe" or "likely" but IT WILL BE 10:1, re: this weeks KWN Wrap. But we've heard this from Turk, Sprott, others as well.

Miners: They are diggin' deeper and its costing more to find.

cris
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Ted Butler: "spectacularly bullish" COT

Of course, he had plenty more to say in his latest piece for subscribers.

But that was the upshot.

Must be other subscribers out there. Comments??

donpaulo
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comments ?

The folks who frequent this site are already riding the bullion horse, I think the question is to what degree are they onboard ?

bullish ? how can you not be ?

where else are those who are paying attention going to put their money ? Today the wife and I went into the market and picked up an extra couple giant bags of toilet paper. She has long since gotten over her "crazy" husbands propensity to spend the cash while we have it. The house is getting full of wine, freeze dried peanuts, shampoo and a bunch of other stuff with extended shelf life... not to mention PM. Thank goodness the safe arrives next week.

I am a believer in a bullish move

What I question are

1. claims of a 10:1 ratio

2. claims that holding physical pm will make you an overnight millionaire

Am I going to complain if the ratio hits 10:1 ? hell no

Nor will you find me whining if I can trade my bars for investment property

BUT I ain't expecting it to happen

I just go about my business and when there is extra cash I spend it. With silver now in the low 30's it is again starting to interest me, whereas before I was more interested in the Asian energy play. Hey its July, time to invest another monthly check, what'll it be this time. hmmm

SE
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Robin...

Robin,

So, what do you see on the ground happening to merit this call?  I see things like three possibilities (Jim Sinclair's view, Marc Faber's view on QEII/III, or nothing happens and we float along like Snap, Crackle, F*U* cereal), the fact that there is a possibility that lot of people will not receive social security checks or even the military may not get paid come August 3rd, and the Euroland situation in the next two months.  Please remember to not get hung up on technicals and keep your eyes open and boots on the ground.

Robin's slave driver

bigmark99
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Kicking the can

The debt ceiling will be raised, The GOP doesn't have the balls not too.

QE 2 has not stopped and will not stop.

The problems we have right now, we be patched but not solved until after the next election cycle, remember the pol's job is to win the next election.

Silver, will rise slowly and steady,  Keep stacking and wait till you make a nice profit then sell and start over again.

Darth Smoker
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Oh The Powers of the White House!

http://theeconomiccollapseblog.com/archives/will-barack-obama-use-the-14th-amendment-as-a-way-to-get-around-the-debt-ceiling

bigmark99
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I just don't think, he would.....

Surfer, I just don't think Barry would. This is a man who's ego is too big to get ran out of town on a rail. If there was an event that would start riots in the street, that might be it. He rammed health care down our throats then debt ceiling, Hell, I would pick up a pitch fork and torch. 

As my friend says "interesting time to live". 

stoneeh
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Sto what? I'd rather use

Sto what? I'd rather use fundamentals over TA and imo the COT is fundamental analysis since it tells you about demand.

This is basically everything you need to know. The correlation between net commercial shorts and price movement couldn't be clearer. Mind you we're probably already a little lower on the net shorts, since the latest COT report was done with 114k OI and as of Thursday we've been at 111k, right now possibly under 110k.

I'd say regarding depth as well as length, this correction is about fucking over.

- Markus

mrgneiss
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Bull run about to commence........

stoneeh wrote:

Sto what? I'd rather use fundamentals over TA and imo the COT is fundamental analysis since it tells you about demand.

This is basically everything you need to know. The correlation between net commercial shorts and price movement couldn't be clearer. Mind you we're probably already a little lower on the net shorts, since the latest COT report was done with 114k OI and as of Thursday we've been at 111k, right now possibly under 110k.

I'd say regarding depth as well as length, this correction is about fucking over.

- Markus

Great looking set-up for the next bull run, this chart should have it's own thread.  Forget about QE, the economy, TA - silver has hugely bullish fundamentals (supply/demand) and it will have a great run over the next six months independent of everything else.  The only question is when it begins, I give it between 1 - 45 days to take-off, IMO sooner is more likely.

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Hope you guys are right

Hope you guys are right, I would like to start seeing these big numbers every expert has been talking about.

stoneeh
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Which experts? Hardly anyone

Which experts? Hardly anyone is bullish on silver at the moment, as expressed via the commitment of traders. Turk is bullish, Sprott is bullish, Gene Arensberg (who made that graphic I linked) is kind of bullish, and that's about it I believe.

I bet James Dines is bullish though. To quote him, "When something has gone down so much nobody wants it and everybody is bearish, I buy". Or "When everybody in the room laughs at me, I know I'm right". What we have in silver right now is exactly that. QE officially ended, economy officially recovering, silver having been bashed hard over the last few months and in a slight downtrend still. If you say right now that silver is going to triple digits, maybe this year, people would laugh at you. And that's exactly why it will.

- Markus

R man J
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India Commits to Import 1200 Tons of Silver

....That's 38.4 million ounces in one year.

From Santa's site:

India to import 350 tons of gold, 1200 tons of silver

jsmineset.com

NEW DELHI (Commodity Online): India’s state-owned trading company—Minerals and Metals Trading Corporation (MMTC)—said on Thursday that it would import 350 tons of Gold and 1,200 tons of Silver in 2011-12 as demand for the precious metals is rising fast.

"We plan to 350 tons of gold and 1,200 tons of silver in the 2011-12 fiscal as the domestic demand for these metals are fast rising," MMTC Marketing Director Ved Prakash told reporters.

India is one of the largest importers and consumers of gold and silver in the world. As the domestic production of these precious metals is negligible compared to their rising consumption, India has been importing hundreds of tons of gold and silver every year.

Prakash said that import of gold by MMTC in the current fiscal is expected to increase by more than 40 per cent with the yellow metal fast emerging as a safer investment option.

ScottJ
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120$ Silver by end of 2011

120$ Silver by end of 2011 (2000$+ gold).... it is not hard to get these high of numbers once the perception of loss of US Dollar confidence (which is what it is priced in for our sake in America).  The tsunami has already been awoken.... the next wave will be bigger and will have more lasting effects on the reality that we know.  Inflation is around the corner, watch out the US Debt Ceiling could be the trigger......

No1Hunter
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Hum

It is going to be interesting over the next few months.

Desert Fox
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No1Hunter wrote: It is going

No1Hunter wrote:

It is going to be interesting over the next few months.

I love "interesting"!

Back to the article, it would seem Eric was on to something with his article and Santa posting it late last week.

Pretty good timing, if you're in to that type of thing. lol

bolweevil
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Is this thing on?

Doing some back-tracking and from 7/1 we had a run up in Silver of about $7.50 stopping on 8/4 at about $41.50, so the analysis was spot on. Lotsa support around $38. What's the diffusion index say today?
http://4.bp.blogspot.com/-zt6chseFY64/TkUXEXWfQDI/AAAAAAAAFKw/MgNmShFllT0/s1600/COT%2BF%2526O%2BSilver%2BDI.JPG

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I'll put my neck out and make one of my most specific prophecies

I have a good reputation of calling bottoms and you can verify that if you look at my posting history on the old site (as "B") and this site's. I also rarely make very precise postings out there unless I am certain.

Silver is about to erupt once again, very likely this coming week but I will not call that.  This near term  eruption (<2 months away) will push silver over its $42 resistance and scare the shiznit out of the shorts that have been piling on since both silver magins and now the gold margin have increased.

In addition, these additional events will occur:

Within 60 days, we'll see more than 5 million registered silver ounces leave the COMEX.   Silver is the leader in this bull market.  We're about to see nearly a fifth of the COMEX registered disappear in the coming two months and that leaves us with a whole new set of idiot paper pushers to deal with. 

Each night as I see the system unravel, I sleep a little bit better.  Its a sad thing, knowing how many people's life savings have been wiped from the markets ... but I know it is necessary for the common good.  I cheer the pain as I know that without pain, a person never realizes their injury and prevents further damage.  Humanity, not just western society, is at that point.   We are quickly approaching the point at which humanity has the final moment to decide: Unite as one for a common goal or fight with another in a selfish ritual.

The universe and life forces within it do not take kindly to selfishness.  I am certain that within many years, we will come to realize this as we discover those things once unknown to us.  Humanity will ultimately make the right choice and we will see the birth of a new civilization, but it will not come soon.  Before that time we're in for a world of hurt and I am more certain of the above statements than I am of the coming hyperinflation...

Dr Durden
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Captain Benny wrote: Silver

Captain Benny wrote:
 Silver is about to erupt once again, very likely this coming week but I will not call that.  This near term  eruption (<2 months away) will push silver over its $42 resistance and scare the shiznit out of the shorts that have been piling on since both silver magins and now the gold margin have increased.

I feel it too. However, I flip flop back and forth between the potential for this thing to blow up and how easy it is for the TBTF to smack it around at ease since they've been doing it for so long and are all over it like stink on a monkey.

I hope a guy like Bob Chapman is right for the sake of the stackers, but then I have to laugh at his irrational exuberance. 

And I also have to admit the longer all this drags out the more depressed I get. Just get it over with already!!!!! 

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survivalwstyle
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the waiting game

we aLL agrEE that AG wiLL be several multiples higher than it is today in 6/12/24 months. 

i am sticking w/ my $50 USD by 9/11. 

this next wEEk lOOks to be huge to me. we are again bouncing to either side of 38.50. if we do get another drop from here i think it wiLL be by thursday. if we bust through 40 this wEEk, we have serious upside potential here. when serious amounts of AG start to leave i think the exits wiLL fiLL quite quickly. everything says up up and away. that is why a dip is always poSSIble. GSR w/ AU @ 1800 and AG @ 44 is just under 41. 1800 and 50 is 36. 2000 and 50 is 40.

kEEp power on hand if weakneSS shows. stiLL siTTing in about 20% cash. haPPy to sEE it take oFF from here but ready to pick it up below 38. friday was about 6am on the west coast.

i wiLL say gainsviLLe coins is a claSS joint.  

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Xeno
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New Catch Phrase

I'm thinking the new catch phrase for the impending move in silver ought to be called "The Tonto" because we're gonna be collecting some banker scalps and we've got the lone ranger (TF) and his horse on our side.

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