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Country
1000+ Penny Miser Member
USA
3121 Posts |
 Posted - 06/18/2010 : 11:02:02
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SILVER reaching for $20; GOLD at all time highs. The June-July timeframe is usually when PMs bottom and move higher. With so many headfakes and selloffs, the average investor will not believe in a real breakout. Perhaps the BIG MONEY could be ready now for a BIG move higher in PMs, wiping out the SHORT sellers in a massive SHORT SQUEEZE. 
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The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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Edited by - Country on 06/18/2010 11:02:57 |
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AGCoinHunter
Penny Hoarding Member
USA
685 Posts |
Posted - 06/18/2010 : 11:45:16
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| Lets hope... only I have stockpiled enough silver yet :( |
"All tyranny needs to gain a foothold is for people of good conscience to remain silent."
-Thomas Jefferson
"There is no difference between communism and socialism, except in the means of achieving the same ultimate end: communism proposes to enslave men by force, socialism—by vote. It is merely the difference between murder and suicide." - Ayn Rand
________________________________________________
Lenin: Class-based International Socialism
Hitler: Race-based National Socialism
Obama: Class- and Race-based Post-National Socialism
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Zyll
Penny Pincher Member
USA
214 Posts |
Posted - 06/18/2010 : 11:56:58
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| It's really tough and gutsy to "buy the breakout". So yes, I agree that many people will miss it in unbelief, and only buy in the manic phase at the end. |
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JJM
Penny Sorter Member
71 Posts |
Posted - 06/18/2010 : 12:09:58
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I sold some in May, but decided not to go away. This is my first summer of buying, ever... I think we're just about to the point where it doesn't matter so much at what price you bought it at, only that you actually hold it. Ounces held will trump purchase price very soon IMO... Honestly, I fear the ramifications of all this however, but I'm prepped a whole lot better than I was in mid-2008.
It's coming soon to a theater near you... |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 06/18/2010 : 14:02:26
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Grrrhh  Sold three positions into strength... but it was two days too early. Now I'm watching SLW, SIL, and AXU just walk away from my selling prices (even though they were profitable) and grumbling about "the ones that got away." This is not a bad market to be holding some cash awaiting bargains, though, so I bought some oil (PBR) as it will soon rebound as inflation ignites. I guess somethings better than nothing. I'm still edgy about whether the market will take another swan dive and pull PM's down with it. Who knows?  |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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zerocd
Penny Hoarding Member
555 Posts |
Posted - 06/18/2010 : 17:24:31
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Copper has been rather low lately. A commodity, and with a weak demand to to the poor economy, the value is temporarily down.
I hope it's temporary anyway.
It's a shame that things have to look grim for silver and gold to shine. A "silver lining" perhaps.
0CD |
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fb101
Administrator
USA
2856 Posts |
Posted - 06/18/2010 : 18:12:02
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| I think it's like I said last week. High volatility, small range. Breakout or breakdown, something is coming. |
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PennySaved
1000+ Penny Miser Member
USA
1720 Posts |
Posted - 06/18/2010 : 18:27:26
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| Why do you think we are seeing the record level with gold but not silver? |
SELLING COPPER PENNIES 1.4X FACE SHIPPED......“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principles of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale” Thomas Jefferson |
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thogey
1000+ Penny Miser Member
USA
1617 Posts |
Posted - 06/18/2010 : 18:31:56
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| Better Advertising? |
Come to the new and improved realcent: http://realcent.org
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Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 06/18/2010 : 19:26:39
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quote:
Originally posted by PennySaved
Why do you think we are seeing the record level with gold but not silver?
GOLD is looked upon as the ultimate refuge from fiat currencies by the rich elites of the world. SILVER will participate as a refuge from fiat currencies, but it is partially tied to the health of the worldwide economies as a strategic/industrial metal also.
Once the scarcity of SILVER is recognized by nations needing this metal for their strategic national defense electrical/computer and other key industrial applications, there will be a worldwide frenzy to buy it at any cost for their strategic stockpile of essential metals. I could envision speculators front running SILVER, forcing futures contracts of it to unbelieveable prices. It would be like a herd of elephants on a stampede. When that time comes, those of us who own SILVER should play a very low profile. |
---> Come to the new and improved realcent: http://realcent.org
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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zerocd
Penny Hoarding Member
555 Posts |
Posted - 06/18/2010 : 20:27:34
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quote:
Originally posted by Country
quote:
Originally posted by PennySaved
Why do you think we are seeing the record level with gold but not silver?
GOLD is looked upon as the ultimate refuge from fiat currencies by the rich elites of the world. SILVER will participate as a refuge from fiat currencies, but it is partially tied to the health of the worldwide economies as a strategic/industrial metal also.
Once the scarcity of SILVER is recognized by nations needing this metal for their strategic national defense electrical/computer and other key industrial applications, there will be a worldwide frenzy to buy it at any cost for their strategic stockpile of essential metals. I could envision speculators front running SILVER, forcing futures contracts of it to unbelieveable prices. It would be like a herd of elephants on a stampede. When that time comes, those of us who own SILVER should play a very low profile.
How interesting that diamonds do not trade like gold. They have value, completely controlled and can now be faked for pennies on the dollar.
Yet, go buy a ring........ |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
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Nickelmeister
Penny Hoarding Member
Canada
588 Posts |
Posted - 06/18/2010 : 22:42:40
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| Diamonds also lack the fungibility of gold. |
www.WinnipegGoldBuyer.com
Standing offer for sale of quality, second-hand solid gold jewellery:
<$100 USD worth - spot +25%, plus actual shipping
$101-500 worth - spot +20%, plus actual shipping
$501-1,000 worth - spot +15%, plus actual shipping
$1,001+ worth - spot +10%, plus actual shipping |
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cptindy
Penny Hoarding Member
572 Posts |
Posted - 06/19/2010 : 08:59:18
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I predict a larger than regular surge forward then a withdrawal, but silver will close above $20 this year end.($20-$22)
Gold will be $1350 to $1450 after the smoke clears year end. |
"It is the nature of the human species to reject what is true but unpleasant and to embrace what is obviously false but comforting"
" The average man doesn't want to be free. He wants to be safe."
H.L. Mencken
http://silver-news-today.com/ |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 06/21/2010 : 05:01:12
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| I agree with cptindy, but think silver will close higher, maybe $25. Certainly, that will be the case if, as I suspect, the investing public continues to become aware of the increasing scarcity of silver and the industrial users start snapping it up to ensure their inventory is intact. I think we could be very close to a default on COMEX due to massive depletion of stockpiles... or then again, as Jeff Nielsen refers to, the holders of SLV and GLD could get the shaft, and JPMorgan could cover their shorts with the custodial metals held under their control. I do think both silver and gold will inch up this month, we'll just have to see what happens the third Friday of next month on options expirations date. |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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zerocd
Penny Hoarding Member
555 Posts |
Posted - 06/21/2010 : 13:46:59
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| After surfacing for the weekend, the diving klaxons sound. |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
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battlecat
Penny Pincher Member
152 Posts |
Posted - 06/21/2010 : 14:12:17
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| Yep pretty big dip so far today.... |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 06/21/2010 : 14:37:12
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| PMs were going up too fast especially for this time of year. I hope no big buyer were out there recently. If so, hold tight because the game isn't over yet. If silver can hold above $17 and gold over $1200 on an average for the Summer they will have done very well indeed. |
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Think positive. |
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Massive PM Breakout Coming Soon?
Forum Locked
the good thing is, for those who can wait patiently, the market will return once the shorts get covered
