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Ardent Listener
Administrator
USA
4841 Posts |
 Posted - 02/17/2009 : 09:55:34
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Silver broke $14 today. Do you think the rally will hold?
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Think positive. |
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rodzm
Penny Pincher Member
USA
143 Posts |
 Posted - 02/17/2009 : 10:18:48
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quote:
Originally posted by Ardent Listener
Silver broke $14 today. Do you think the rally will hold?
After huge gains there is bound to be a pull back. Seems like $14 was a resistance point. Im glad to see silver make gains but huge gains like we have seen are not healthy.
Im hoping for a ratio drop below 60. Typically people wait to below 50 but the way we're going a switch from silver to gold when the ratio is below 60 should be a very safe bet |
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 02/17/2009 : 12:08:51
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| I've been watching them all creep up. Everything Obama is on the air spewing more B.S. It slowly moves up. The more he talks, the richer I get. =D |
Trolling is an art. |
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TenBears
1000+ Penny Miser Member
USA
1021 Posts |
Posted - 02/17/2009 : 14:07:45
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quote:
Originally posted by Ardent Listener
Silver broke $14 today. Do you think the rally will hold?
If I could reliably predict such things, I might be somewhere drinking a little umbrella drink, far from the reaches of cell phones and personal computers. |
"Rich," the Old Man said dreamily, "is not baying after what you can't have. Rich is having the time to do what you want to do. Rich is a little whiskey to drink and some food to eat and a roof over your head and a fish pole and a boat and a gun and a dollar for a box of shells. Rich is not owing any money to anybody, and not spending what you haven't got." Robert Ruark
there are too wild Indians...
there are too wild Indians...
there are too wild Indians...-----still taunted
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AgCollector
Penny Collector Member
USA
266 Posts |
Posted - 02/17/2009 : 15:00:07
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quote:
Originally posted by Ardent Listener
Silver broke $14 today. Do you think the rally will hold?
Yes, I think it will. Gold has consistently stayed high while silver fell, and silver is finally catching up. |
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Tourney64
1000+ Penny Miser Member
USA
1035 Posts |
Posted - 02/17/2009 : 16:08:16
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Glad I got my annual silver eagle purchase when silver was $10.66/oz.
Usually gold and silver go the opposite direction of the dollar.
Not sure why the dollar is up vs. the rest of the world's currencies and gold and silver are up also. With the dollar being devaulued today by the $787B spendulous package, I thought the dollar would fall. |
Edited by - Tourney64 on 02/17/2009 16:11:44 |
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 02/17/2009 : 16:22:05
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| The stock market dived again today. I don't trust what government 'professionals' state about the value of the dollar. |
Trolling is an art. |
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Kurr
1000+ Penny Miser Member
2906 Posts |
Posted - 02/17/2009 : 16:49:43
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I did not understand it when I read it, and still do not but it seems to coorespond.
quote:
8:17 CT
I do not know what is going on here, and I don't think I want to.
Someone, apparently someone in Asia, wants dollars. A LOT of dollars. There is a forced-liquidation event underway that is massive, it is against all asset classes and it is spreading.
It originated at approximately 7:15 CT this evening and originated out of Asia somewhere. All of the primary currency crosses got hit at once - Euro, Pound, Yen - all weakened dramatically against the dollar and it is still going on. The Asian stock markets got walloped at the same time in coordinated waves of forced selling.
At the same time the US futures markets got nailed as well, down some six handles on the /ES in a near-vertical drop. While this sounds "not that big" to move these markets in a coordinated fashion like this is a trillion-dollar enterprise - this is not some small company that went bankrupt, or even a large company.
There is no news coverage at the present time identifying the source of this but it is not small and contrary to some reports it is not "automatic selling"; this is forced liquidation.
Folks, if this translates into Eastern Europe where there are severe instabilities already brewing literally everything in the financial world could come apart "all at once."
The worse news is that if this happens Bernanke will have killed us (in the US) by extending those swap lines all over the planet during the last six months. These will become utterly uncollectable and they are massive, in the many hundreds of billions of dollars.
To those who are reading this, I hope if you're in the markets you are prepared for extreme levels of violence. You must expect that the authorities will try to arrest the destruction if they are able, but you must also be prepared for the possibility that we have reached a "critical mass" point beyond which "duck and cover" is the only winning strategy.
Unfortunately.
I hope I'm wrong; this is going to be a long night.
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The silver [is] mine, and the gold [is] mine, saith the LORD of hosts. Hag 2:8 [/b]
He created it. He controls it. He gave it to us for His use. Why did we turn from sound scriptural currency that PROTECTS us?
KJV Bible w/ Strong's Concordance: http://www.blueletterbible.org/
The book of The Hundreds: http://www.land.netonecom.net/tlp/ref/boh/bookOfTheHundreds_v4.1.pdf
The Two Republics: http://www.whitehorsemedia.com/docs/THE_TWO_REPUBLICS.pdf
Good reading: http://ecclesia.org/truth/government.html
A number of people are educated beyond, sometimes way beyond, their intelligence. - Tenbears
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oober
1000+ Penny Miser Member
USA
1304 Posts |
Posted - 02/17/2009 : 16:53:58
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| Not too happy about this. I'm still buying.. Damn DCA is going up. |
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highroller4321
1000+ Penny Miser Member
USA
2648 Posts |
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fb101
Administrator
USA
2856 Posts |
Posted - 02/17/2009 : 19:07:31
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| Regarding PMs, if you use charts as a backdrop to the economic situation, we should have pullback in here, but this looks like the start of something big. IMHO, if we go too much higher here all at once, this is likely to fall apart, however there is a significant point here we have reached. The long term downtrend we were in since gold and silver peaked has now been broken in gold, and silver is only a very short way from it. I think I posted somewhere before that we would see $14 silver by Feb 28th, but I can't find the thread anymore. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 02/17/2009 : 19:17:00
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| If $14 holds for a few days then $15 may be the next resistance. Last year I thought we would never break through $15 and hold. If you blinked silver was below $15 again. About the only time silver was $15 was when I was buying. But for a tuesday, $14 was very impressive today. Plus silver went up opposite of the stock market today. |
Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
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scooter
Penny Pincher Member
240 Posts |
Posted - 02/17/2009 : 20:40:05
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Silver broke $14 today.
Forum Locked
