Patrick.net

Revisiting Silver

By iwog   Follow   Mon, 2 Jul 2012, 11:12am   25,947 views   292 comments
In Lafayette CA 94549   Watch (1)   Share   Quote   Permalink   Like (3)   Dislike (1)  

Although it didn't crash as quickly as I expected, the chart is pure bubble crash at this point.

1. well defined parabolic peak
2. well defined bull trap
3. lower highs, lower lows
4. bear market trend that isn't anywhere close to capitulation

I wouldn't touch the stuff under any circumstances unless it drops near $10 an ounce.

« First     « Previous     Viewing Comments 133-172 of 292     Next »     Last »     See most liked comments

1. iwog Follow Befriend (48) 273 threads 12,494 comments 47 male Lafayette, CA Premium

   133   9:51am Wed 5 Dec 2012   Share   Quote   Permalink   Like   Dislike   Dan8267 says Iwog, are you turning into a phoenix? I'm not really sure. I woke up one morning and my wings were on fire.

2. iwog Follow Befriend (48) 273 threads 12,494 comments 47 male Lafayette, CA Premium

   134   10:52am Wed 5 Dec 2012   Share   Quote   Permalink   Like   Dislike   When I win the lottery today, I will certainly devote 10% of the net winnings to buying more silver and gold.

3. iwog Follow Befriend (48) 273 threads 12,494 comments 47 male Lafayette, CA Premium

   135   5:33pm Thu 6 Dec 2012   Share   Quote   Permalink   Like   Dislike   underwaterman says One day of trading loss for apple could buy all the worlds above ground supply of silver at 34 billion: Or sell it.

4. Bellingham Bill Follow Befriend 29 threads 1,476 comments Bellingham, WA Premium

   136   1:01pm Fri 7 Dec 2012   Share   Quote   Permalink   Like   Dislike   underwaterman says Investment demand increased 82 million ounces in 2012 just more future sellers, LOL

5. Bellingham Bill Follow Befriend 29 threads 1,476 comments Bellingham, WA Premium

   137   1:16pm Fri 7 Dec 2012   Share   Quote   Permalink   Like   Dislike   underwaterman says Based on what evidence? All the evidence is that these are strong hands now holding silver and gold. They can hold it in their strong hands all they want. Not worth a penny until they SELL it on, though.

6. SFace Follow Befriend (2) 60 threads 1,298 comments Premium

   138   1:53pm Fri 7 Dec 2012   Share   Quote   Permalink   Like (1)   Dislike   Underwaterman, Instead of relying on Ben Davies, etc. The diligence I will do will be as follow: You should read the 10-K and presentation from Barrick, Anglo, Newmont to see how they are handling hedging activity. It should be the #1 discussed item of any public information. If they have been buying out the hedge for expensive sum, it is extremely bullish. If they have been hedging production, it is bearish. This is applying analysis at the application level. These guys know the market and trend better than anyone as their livlihood depends on it. Follow them not Ben Davies.

7. Peter P Follow Befriend (4) 117 threads 17,655 comments Premium

   139   3:01pm Sat 8 Dec 2012   Share   Quote   Permalink   Like   Dislike   But there is much paper gold and derivatives.

8. Peter P Follow Befriend (4) 117 threads 17,655 comments Premium

   140   3:26pm Sat 8 Dec 2012   Share   Quote   Permalink   Like   Dislike   Isn't it better to trade the current price actions then to predict?

9. Peter P Follow Befriend (4) 117 threads 17,655 comments Premium

   141   3:45pm Sat 8 Dec 2012   Share   Quote   Permalink   Like   Dislike   Still, gold prices can be manipulated easily because of the notional value of such derivative. Especially if China and India own a lot of physical, don't you think there will be much interest in depressing gold price?

10. woppa Follow Befriend (3) 2 threads 178 comments Bronx, NY

    142   4:20pm Sat 8 Dec 2012   Share   Quote   Permalink   Like   Dislike   If I have the choice of investing in my tax deductible IRA or precious metals what do you think is best? Should I do both, should I put as much as I can in silver?

11. iwog Follow Befriend (48) 273 threads 12,494 comments 47 male Lafayette, CA Premium

    143   4:24pm Sat 8 Dec 2012   Share   Quote   Permalink   Like (1)   Dislike   Ask the hunt brothers.

12. Peter P Follow Befriend (4) 117 threads 17,655 comments Premium

    144   4:33pm Sat 8 Dec 2012   Share   Quote   Permalink   Like   Dislike   underwaterman says It doesn't matter what the short term manipulation is as long as you hold physical and wait. China's buying alone sets a floor on the low price as well as the $1700 cost to pull out of the ground. Problem is, a bet is meaningful only if it is leveraged. But if it is leveraged than short-term volatility matters.

13. Peter P Follow Befriend (4) 117 threads 17,655 comments Premium

    145   7:55pm Sat 8 Dec 2012   Share   Quote   Permalink   Like   Dislike   Leverage was not the problem. The lesson was that you need to be careful if you become too successful. If you piss off the wrong people they will change the rules against you.

14. Peter P Follow Befriend (4) 117 threads 17,655 comments Premium

    146   8:07pm Sat 8 Dec 2012   Share   Quote   Permalink   Like   Dislike   If they had stayed home they would have been fine too. Leverage has its place. Just handle with care.

15. Peter P Follow Befriend (4) 117 threads 17,655 comments Premium

    147   1:50am Sun 9 Dec 2012   Share   Quote   Permalink   Like (1)   Dislike   I have a feeling currency collapses will occur elsewhere first. USD may temporarily spike. Isn't it also important to understand the psychology behind silver traders? When you trade (or invest), you are really trading other traders.

16. B.A.C.A.H. Follow Befriend (6) 5 threads 2,359 comments

    148   9:50am Sun 9 Dec 2012   Share   Quote   Permalink   Like   Dislike   underwaterman says Here is a reason not to listen to the idiot "respected" financial journals and their puppets If someone is an "expert", I'd be inclined to do the opposite of what s/he suggests. Not just in finance. In almost everything.

17. woppa Follow Befriend (3) 2 threads 178 comments Bronx, NY

    149   9:33pm Sun 9 Dec 2012   Share   Quote   Permalink   Like   Dislike   I decided to watch the 20000$ gold video. I find it funny that while the video was starting I felt like I was watching one of those corny infomercials (i.e. Kiyosaki and the other douche, I cant remember his name). Just then he says he wrote a book for Kiyosaki...kinda erked me.

18. everything Follow Befriend (2) 3 threads 546 comments Madison, WI

    150   7:41pm Mon 10 Dec 2012   Share   Quote   Permalink   Like   Dislike   Wow, is gold ever going to crash hard when these big hoarders (these days everyone's a gold bug) finally stop what they are doing, though probably not for a few years yet. That is such artificial demand when a country can use a printing press to buy gold, then what good is all that gold? At least some countries know enough, or allow the public to use it in trade (Dinar). It's sad to make the little countries suffer as the big countries play their game of who can create the most inflation and in the case of the China, then hope to establish the dominate currency by trying to ultimately establish or simulate a gold standard. (never happening) Everywhere I turn, people are saying gold and silver is where it's at, the only real reason being is because the jig is up that world governments are the biggest baddest gold hoarders/stackers out of them all. This has ended up creating a PM commodity bubble of proportions never seen or heard of, especially with interest rates this low. I'm just glad I figured this out before all my cash eventually flowed into physical PM. As long as the dollar is the reserve currency the dollar will remain strong. If I lived in some of these smaller countries that have such terrible inflation things would be different and I would have significant PM holdings. For now, I'm keeping my PM holdings at about 10% of my investment portfolio. Still, am still a PM investor, when silver drops below $30 I add to the stack, averaging in about 100 oz. physical yearly.

19. everything Follow Befriend (2) 3 threads 546 comments Madison, WI

    151   7:19am Thu 13 Dec 2012   Share   Quote   Permalink   Like   Dislike   Central banks are leasing gold into the market? When you lease the gold it disappears? I think that gold is long gone? I don't think their is any left in the system? All answers from Sprott answered in the form of questions! Sprott did not look into his camera more than a couple of times during the whole interview, also his arms are crossed much of the time. He says silver is going to be $200 and gold $3000 within two years, sure maybe if the interest rates keep going down. Since interest rates are bottomed so has silver and gold topped, neither are going anywhere the last two years. It's probably more likely the central banks or governments will use the gold reserves to buy back the over printed currencies like a stock buyback program corporations do when they become to diluted. If they sold it once, they'll sell it again. Truth is the gold has gone nowhere, it's only exchanged hands, we don't use hardly any in production, it's all sitting in vaults, safe boxes, safes, hoarded, jewelery, and even buried. Also, if it's leased that just means it's sitting in someone else's vault so someone can use it as an ETF. IF interest rates go back up those investors will to some exent flee the commodity bubble for the safety of CD's for instance. I buy silver because I believe that one day we will have a green revolution and then it will shine, and secondly a store of value to exchange for the devaluing dollars. I'm on board, I just bought 30 oz. of silver but I'm still saving a shitpile of dollars for any pullback and buying opportunities.

20. woppa Follow Befriend (3) 2 threads 178 comments Bronx, NY

    152   5:36pm Sat 15 Dec 2012   Share   Quote   Permalink   Like   Dislike   Can you explain why buying eagles is better than bars and rounds?

21. woppa Follow Befriend (3) 2 threads 178 comments Bronx, NY

    153   7:19pm Sat 15 Dec 2012   Share   Quote   Permalink   Like   Dislike (1)   All the same goes for gold as well I assume?

22. Peter P Follow Befriend (4) 117 threads 17,655 comments Premium

    154   8:19pm Sat 15 Dec 2012   Share   Quote   Permalink   Like   Dislike   I like gold more than silver. The storage cost for physical silver is way too high.

23. Peter P Follow Befriend (4) 117 threads 17,655 comments Premium

    155   8:33pm Sat 15 Dec 2012   Share   Quote   Permalink   Like   Dislike   What about a combination of physical gold, paper gold, and silver derivatives? This way, you can have the safety of the metal and the potential growth of the silver/gold ratio. Not investment advice.

24. Peter P Follow Befriend (4) 117 threads 17,655 comments Premium

    156   8:45pm Sat 15 Dec 2012   Share   Quote   Permalink   Like   Dislike   Have you looked into GDX?

25. Peter P Follow Befriend (4) 117 threads 17,655 comments Premium

    157   8:47pm Sat 15 Dec 2012   Share   Quote   Permalink   Like   Dislike   underwaterman says Store it at home for nothing but the cost of a safe. Unless you have a really fancy safe built into the structure of the house... it only serves to attract the attention of the burglar. You may as well find some creative places to hide them.

26. Peter P Follow Befriend (4) 117 threads 17,655 comments Premium

    158   8:51pm Sat 15 Dec 2012   Share   Quote   Permalink   Like   Dislike   underwaterman says I suggest you read my post above on the weak hands. The market will eat you alive if you try to beat HFT and algorithmic trading and corrupt brokerages. You do not need to beat HFT and algorithms. They just create a whole different market micro-structure. For example, HFT does not affect a 5 min bar series the same way it affects a tick series. You need to be careful with physical stops. The game has changed, but human traders can co-exist with robots.

27. Peter P Follow Befriend (4) 117 threads 17,655 comments Premium

    159   8:59pm Sat 15 Dec 2012   Share   Quote   Permalink   Like   Dislike   underwaterman says There is no accurate price discovery in a manipulated market from my perspective and in a market where a firm pays the brokerage to look at your stops and orders and put in orders before yours, it isn't an even playing field anymore. Depending on your time frame stops may or may not hurt you. Lower time-frame trading has become very difficult. underwaterman says That is why people are withdrawing money from the market and volume is low now. Not sure if that is the reason. The stock market is not very volatile, which makes a horrible trading environment.

28. Peter P Follow Befriend (4) 117 threads 17,655 comments Premium

    160   9:01pm Sat 15 Dec 2012   Share   Quote   Permalink   Like   Dislike   underwaterman says How would a thief even know you have a safe and something worth stealing? You better hide the safe and hide it well.

29. The Professor Follow Befriend (5) 24 threads 1,302 comments Premium

    161   4:37pm Tue 25 Dec 2012   Share   Quote   Permalink   Like (1)   Dislike   So why has silver dropped this month?

30. uomo_senza_nome Follow Befriend (13) 787 threads 1,542 comments

    162   5:57am Wed 26 Dec 2012   Share   Quote   Permalink   Like   Dislike   The Professor says So why has silver dropped this month? Crash JP Morgan, Buy Silver LOL ROTFL LMAO

31. bgamall4 Follow Befriend (14) 748 threads 2,572 comments 63 male Las Vegas, NV bgamall4's website Premium

    163   11:30am Sun 30 Dec 2012   Share   Quote   Permalink   Like   Dislike   underwaterman says Simple answer: Manipulation, pure and simple. What sane investor sells massive amounts of gold for a major loss in the middle of the night when there is no volume? They only do this to push the price down on purpose. They pulled the same trick last year in December. The metals went right back to their fundamental prices in January after the manipulation raid is over. I think they want to push the price down of the metals for the end of year comparisons. You know, this is how they bid up housing, but in reverse. They actually pay cash and pay thousands over the comp to bid housing up. They are evil and should be stopped.

32. Peter P Follow Befriend (4) 117 threads 17,655 comments Premium

    164   11:33am Sun 30 Dec 2012   Share   Quote   Permalink   Like (1)   Dislike   Gold is international. Just watch GC/YG/ZG at night and you will see that there is a lot of trading going on.

33. Facebooksux Follow Befriend (2) 2 threads 223 comments Mountain View, CA

    165   8:30pm Thu 17 Jan 2013   Share   Quote   Permalink   Like   Dislike   http://www.zerohedge.com/news/2013-01-17/us-mint-out-silver-coins-suspends-sales Gee, the Mint ran out of Silver Eagles. I guess the economy is GREAT and there's nothing wrong with my BernankBux!!!

34. robertoaribas Follow Befriend (23) 55 threads 3,780 comments Scottsdale, AZ robertoaribas's website

    166   8:36am Sat 19 Jan 2013   Share   Quote   Permalink   Like   Dislike   underwaterman says The Professor says So why has silver dropped this month? Simple answer: Manipulation, pure and simple. What sane investor sells massive amounts of gold for a major loss in the middle of the night when there is no volume? They only do this to push the price down on purpose. They pulled the same trick last year in December. total crap. This excerpt shows how little knowledge underwearman has about markets. Only if one person had a corner on the market, i.e. a monopoly, would that work. Silver and Gold are simply far too big and broad of markets for one person or even a group of people to have any such effect. Love his theory too, "if silver goes up, I'm right, but if it goes down, it's manipulation so it doesn't count..." Gee thats a neat trick? heads I win, tails don't count! So I can always predict how a coin toss will come out!

35. robertoaribas Follow Befriend (23) 55 threads 3,780 comments Scottsdale, AZ robertoaribas's website

    167   4:27pm Sun 20 Jan 2013   Share   Quote   Permalink   Like   Dislike (1)   underwaterman says Really what is it? Feeling a little hurt because I demonstrated in the last thread your ignorance and inability to construct an argument? Is it a sexual thing? What is it? What is this compulsion you have with me? more nonsense from the resident tin hat wearer... You can't answer the fairly obvious economic and logical arguments I make, so you go on a multipage rage against me... The silver market is billions of dollars of trades; One person, hell even one government can't "manipulate it" to make it go down. Since you are very stupid, you don't respond to the substance, and attack me. You are worthless, and small.thus, you respond with these multi page rants at me... pure sad jealousy! you lost money on housing, because you don't know what you are doing, so now you will do the same on metals...

36. treatmentreport Follow Befriend 7 threads 171 comments treatmentreport's website

    168   4:29pm Sun 20 Jan 2013   Share   Quote   Permalink   Like   Dislike   robertoaribas says The silver market is billions of dollars of trades; One person, hell even one government can't "manipulate it" to make it go down. Since you are very stupid, you don't respond to the substance, and attack me. When the oil market went to almost 150 in 2008, there was one player that had a 12% position. I would say that one player can manipulate almost any commodity market. Oil is a much bigger market than silver.

37. robertoaribas Follow Befriend (23) 55 threads 3,780 comments Scottsdale, AZ robertoaribas's website

    169   4:33pm Sun 20 Jan 2013   Share   Quote   Permalink   Like   Dislike   treatmentreport says When the oil market went to almost 150 in 2008, there was one player that had a 12% position. I would say that one player can manipulate almost any commodity market. Oil is a much bigger market than silver. every single time oil goes up, that same claim comes out; every single time absolutely 100% of economists refute it; Oil goes up for many reasons, supply, demand, fear premium based on middle east politics, but the same person cornering a bunch of it, would later have to sell it, creating a glut... so the net result, would be huge risk for potentially negative payoff.

38. robertoaribas Follow Befriend (23) 55 threads 3,780 comments Scottsdale, AZ robertoaribas's website

    170   5:00pm Sun 20 Jan 2013   Share   Quote   Permalink   Like   Dislike   underwaterman says This is evidence by his next comment: robertoaribas says Love his theory too, "if silver goes up, I'm right, but if it goes down, it's manipulation so it doesn't count..." He doesn't argue my point that silver was manipulated in December, he creates another strawman statement to attack and then attack it. People like roberta, use the ad homenia attack reasoning: Person A makes claim X. Person B makes an attack on person A. Therefore A's claim is false. you are lying, as seems to be your habit. On this very thread, you predicted silver's price rise... it dropped for the month of December, and you then responded that the price was manipulated in December. So, your call for a price rise was what? wrong? or didn't count due to manipulation? pointing out EXACTLY WHAT YOU SAY is not an ad hominem attack; calling you stupid could, but at this point, that would be more accurately recognizing a fact about you, in a less than polite manner. So I apologize for calling you stupid, you really can't help it that you aren't a good thinker.

39. treatmentreport Follow Befriend 7 threads 171 comments treatmentreport's website

    171   5:07pm Sun 20 Jan 2013   Share   Quote   Permalink   Like   Dislike   robertoaribas says every single time oil goes up, that same claim comes out; every single time absolutely 100% of economists refute it; Oil goes up for many reasons, supply, demand, fear premium based on middle east politics, but the same person cornering a bunch of it, would later have to sell it, creating a glut... so the net result, would be huge risk for potentially negative payoff. You are full of it. I was in the market at the time and it had nothing to do with supply and demand. Who are these 100% of economists that refute it? You are starting to sound like a person who does not do his homework and blabs about every topic.

40. robertoaribas Follow Befriend (23) 55 threads 3,780 comments Scottsdale, AZ robertoaribas's website

    172   5:11pm Sun 20 Jan 2013   Share   Quote   Permalink   Like   Dislike   treatmentreport says You are full of it. I was in the market at the time and it had nothing to do with supply and demand. Who are these 100% of economists that refute it? You are starting to sound like a person who does not do his homework and blabs about every topic. ok, if they so successfully manipulated it high, and they actually owned 13% of the market at that time, why did the price drop? and by the way, I seem to not notice any references to this master oil manipulator... where are your references? There is a manipulator of oil: It's called OPEC, and even with there huge block of control, they have difficulty keeping the price where they want it. Careful now, you're on the edge of sliding down the credibility scale where you may run into underwearsnifferman!

« First     « Previous comments     Next comments »     Last »