patrick.net

Hope you are right... I expanded my holdings of SIVR yesterday.

What about shorting (once this is over $50) and buying some CYA Call options. I wonder if Ben's press conference will have any effect on PMs.

Mish just swapped his silver stash for gold ... lol .. he must have read my previous post.

In other news, I called Apmex and they will swap silver for gold - and it can be a non taxable event... I can do it with all rounds, eagles and philharmonics.. But not maples - for some reason it would be taxable then.. That was according to the woman on the phone.

And again another sale of most of my SIVR shares... Am I a fool? Maybe!

Some are swapping silver (Ag) for gold (Au ) now since the Au/Ag price ratio is down to near 30.

http://globaleconomicanalysis.blogspot.com/2011/04/taking-silver-profits-swapping-silver.html

I prefer gold.

E-man says

For those that follow SLV and SLW. It looks like money has been flowing into SLV, but out of SLW. Anyone knows why? I don’t own either of these, but don’t have the time to follow them closely as well as research them.
Be formless, shapeless, like water - Bruce Lee

Any number of reasons. SLW outpaced SLV for 2 years. Some really big guys in the industry claim the hedge funds have been shorting the mining stocks.

Copper moves with the industrial demand. Silver & Gold will ultimately test the historic 15 to 1 ratio that was established when the 2 metals were in equilibrium for centuries. The ratio went out of whack with the demonetization & industrialization of Silver. Right now, the ratio is about 30:1. Ultimately, that ratio is head to the 15:1 equilibrium. Nothing moves in a straight line, so it might not be a bad idea to swap Silver for Gold on a short term basis. But over the course of years, Silver will outperform gold until that ratio is established.

What was that I heard about market manipulation???

How about converting paper to physical? With physical in hand, it is less emotional.

Silver is undervalued.

readjust your prices for inflation and consider we're just emerging from a period of extreme over capitalization in just about everything.

you think silver at $50/oz is expensive. What can you get for $50? lunch for 3? you're saying lunch for 3 is worth an Oz of Silver? on Oz of Silver should buy lunch for 20.

something is really screwed up here and I get the clear feeling that markets are being manipulated for political reasons. Your tax dollars at work. This is what happens when you funnel trillions into WHO KNOWS WHERE.

This one for what it is worth:

http://blogs.barrons.com/focusonfunds/2011/05/06/silver-sell-off-worst-week-since-1980-funds-head-for-exits-early/?mod=yahoobarrons

Wow, nice shakeout. A lot of Johnny come lately investors jumped in on the move from $30 to $50 and they ran up the price pretty quickly. Looks like we are clearing out the weak players and I wouldn't be surprised if we go back down to $30

E-man says

Can you say silver is due for a short-term bounce before heading lower? It set up an inside day on Friday, so it would likely bounce up for the next couple of days before heading lower to your price target.

Maybe - who knows at this point. Maybe the 'party' IS over. Silver may seek its own level, but I still think that oil is going up for a little while longer. We shall see.

Can you say silver is due for a short-term bounce before heading lower? It set up an inside day on Friday, so it would likely bounce up for the next couple of days before heading lower to your price target.

At this point, I would say $31 would be a minimum target for me. Given the constant tinkering with the market from the officials, there's no way to even think about predicting a direction & time frame of movement. This is an insiders game and they change the rules at the drop of a hat.

why the silver chart makes perfect sense:

This is worth reading!

http://seekingalpha.com/article/268691-anatomy-of-silver-manipulation-how-low-can-it-go?source=yahoo

Recent market trend:

http://finance.yahoo.com/news/Silver-ETFs-Set-6-Bounce-ETFTrends-3245620516.html?x=0&.v=1

theoakman says

This is an insiders game and they change the rules at the drop of a hat.

Totally agree. Small players just play along with big players' rule. CME just needs to raise the margin requirement few more times or draft up another set of rules to crush silver if it rise again. Remember back in April 2009, FASB mark to market rule is changed to rescue banks like Citi and Wells. All the rules are made to be bent or broken if the rules work against big money.

I can't wait to see CME raise the margin requirement one more time. It had worked. Just this month, CME has increased the silver future contract margin requirement more than 80%. They will not hesitate to pull the trigger again.
Somewhere I read that commodity trading is not regulated like stock trading on NYSE and NASDAQ. If this is true, CME can do whatever they want to manipulate silver price. This could be the rerun of Hunt brothers case in late 70s.

If breaks $30, time to load up some physical.

It can go either way. Does not hurt to buy some pretty bullion for long term storage. Those 1 and 5 oz bullion is a much better gift than the same value of gift card.