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View Full Version : why the rally?


97guns
11-22-2011, 09:51 AM
this isn't in the gameplan, 2 things were supposed to happen today

1. i was to buy silver today

2. i should be driving my ferrari by now.

mach1sc
11-22-2011, 09:59 AM
just a guess BoA has to do better so they are buying something of value, Silver.

Spartikis
11-22-2011, 10:24 AM
this isn't in the gameplan, 2 things were supposed to happen today

1. i was to buy silver today

2. i should be driving my ferrari by now.

I know itys crazy, one of the rare times when the dow is down yet PM are up...typically they flow together. Its still cheap and a good buy, but ive been hearing alot about silve rin the upper 20s this month, might just hold off a week or two and buy when it dips below $30. i wouldnt wait for it to hit mid or low 20s, i honestly dont think it will happen.

seascape195
11-22-2011, 11:06 AM
My 2 cents, any price between a low, bottom around $26+ (which has enough Automatic "BUY NOW" in their trading software's for the paper traders, its almost impossible to hit anything below that -- big money buy's here due to its 'fire sale pricing'). Upper resistance looks like around $33, with a ceiling seeing 35-36 right now, without any good/bad world news to swing outside that range. Big news can easily change that, pretty quickly.

This being thanksgiving weeks, lots of people go on holiday vacation to see friends & family, so you see a lot of Auto buy/Auto sale prices set by paper traders to catch/protect big moves in the market while they are away.

ParlayTheHard8
11-22-2011, 11:09 AM
this isn't in the gameplan, 2 things were supposed to happen today

1. i was to buy silver today

2. i should be driving my ferrari by now.


Why? You silly person, it is because she ess de SEELVAIR!

SilverSurfer25
11-22-2011, 11:17 AM
Its because you listen to people here too much.

Deflationist vs hyperinflationists --- dont realize both could happen simultaneously, deflation caused by financial institutions and people hoarding FRNs, and hyperinflation caused by the FEDS inability to keep supply of FRNs inline with demand of FRNs at todays demoniations without adding on few extra zeros Zimbabwe style....

SilverTongueDevil
11-22-2011, 11:28 AM
Silver=Rolacoaster Ride. Up down up down flat side ways down Up UP UP down down down sideways UP loop tee loop.

Long Term Investor
11-22-2011, 11:28 AM
Good question. I'm a bit surprised at the rally too.
One thought could be that the headlines today about the total incompetence of the super committee to even come up with $1.2T of cuts is starting to sink in a bit and more people are realizing that the USD is screwed in the long term (perhaps even sooner than they were thinking / planning).

I know I'm waiting for bigger dips to do major buying, but I can't help but buy some at these prices in case these are the lowest prices we'll see.

It is astounding that we can't come up with $1.2T in cuts over 10 years when something like $46T will be spent in the next 10 years. That is like a 2.5% cut. With leaders like this, we truly are screwed.

Spartikis
11-22-2011, 11:33 AM
Good question. I'm a bit surprised at the rally too.
One thought could be that the headlines today about the total incompetence of the super committee to even come up with $1.2T of cuts is starting to sink in a bit and more people are realizing that the USD is screwed in the long term (perhaps even sooner than they were thinking / planning).

I know I'm waiting for bigger dips to do major buying, but I can't help but buy some at these prices in case these are the lowest prices we'll see.

It is astounding that we can't come up with $1.2T in cuts over 10 years when something like $46T will be spent in the next 10 years. That is like a 2.5% cut. With leaders like this, we truly are screwed.

Yeah, no ones got the guts to do it theyre all worried about their political careers but if they dont act fast they will be luck if the nation lets representatives keep their heads attached to their bodies. Honestly we need to but about 1.5T EACH YEAR, not over a 10 year period if we stand any chance of getting out of this in one piece and still have a nation and financial system to go along with it.

SilverTongueDevil
11-22-2011, 11:40 AM
It is astounding that we can't come up with $1.2T in cuts over 10 years when something like $46T will be spent in the next 10 years. That is like a 2.5% cut. With leaders like this, we truly are screwed.

Why I hold PMs If and when they get there crap together I am out of PMs tell then I am a holder of PMs.

Spartikis
11-22-2011, 11:42 AM
Why I hold PMs If and when they get there crap together I am out of PMs tell then I am a holder of PMs.

Haha they will never get that financial mess in order. But if they magically did say Ron Paul is elected and he balances the budget in the first couple months of office i will be unloading my stack ASAP.

ParlayTheHard8
11-22-2011, 11:47 AM
Why I hold PMs If and when they get there crap together I am out of PMs tell then I am a holder of PMs.

:D Aw, you mean that you'd leave us just for money? Come on, silver is shiny, heavy, and white; not like that dirty, green, old papery stuff!

Lorian
11-22-2011, 11:47 AM
this isn't in the gameplan, 2 things were supposed to happen today

1. i was to buy silver today

2. i should be driving my ferrari by now.
1. thats what happens when hesitating.
2. the one that sold and bought back in before you is now driving it

Lorian
11-22-2011, 11:52 AM
Haha they will never get that financial mess in order. But if they magically did say Ron Paul is elected and he balances the budget in the first couple months of office i will be unloading my stack ASAP.
Why would precious metals be a bad way to store value, especially after a libertarian cleaned some crap up?

97guns
11-22-2011, 11:55 AM
not eveyone is so lucky

I was out of cash early october, with new earnings I bought 60 Philharmonikers when spot was $30 just before that $5 up in a week, and I have now enough new earnings to repeat it again at $30. If it doesn't happen, no worries. But it's tempting since it would make my stack over 10000 ounces.

Spartikis
11-22-2011, 12:11 PM
Why would precious metals be a bad way to store value, especially after a libertarian cleaned some crap up?

If they cut spending, stopped all QE, paid down debt etc we wouldnt see massive inflation and financial fear and would most likely see the value of the dollar increase and the PMs decrease.

Lorian
11-22-2011, 12:17 PM
If they cut spending, stopped all QE, paid down debt etc we wouldnt see massive inflation and financial fear and would most likely see the value of the dollar increase and the PMs decrease.
Think a step further. What are the consequences of cutting spending and no more QE?

DCNewAgStacker
11-22-2011, 12:22 PM
Haha they will never get that financial mess in order. But if they magically did say Ron Paul is elected and he balances the budget in the first couple months of office i will be unloading my stack ASAP.

As much as I would like Ronnie to be elected and fix this place, it ain't gonna happen...not until some of these old tight wads start dying so we can loosen up this country

Scorp
11-22-2011, 12:26 PM
this isn't in the gameplan, 2 things were supposed to happen today

1. i was to buy silver today

2. i should be driving my ferrari by now.

It seems many people have in the money call options and are exercising them today.

The latest COT report shows 45.5% of open interest spreading, that means they had/have both calls and puts and could go long and/or short.

8 or less traders are holding 24.7% of the short positions in futures and options. This might not be a sustainable bull run.

http://www.cftc.gov/dea/options/other_lof.htm

SilverTongueDevil
11-22-2011, 12:37 PM
:D Aw, you mean that you'd leave us just for money? Come on, silver is shiny, heavy, and white; not like that dirty, green, old papery stuff!

I would keep some of my Numis plain old bullion would be traded for for something else maybe a shack on island that looked like a screen saver.

SilverTongueDevil
11-22-2011, 12:58 PM
Think a step further. What are the consequences of cutting spending and no more QE?

Gold down.. Silver would be one I think could stay at level above 20 dollars due to demand in a economy that would consume it.
I think Platinum and metals in its family would and could go up in value.
The dollar would gain strength. The Markets would grow interest rates would be up but not inflationary high.
Cutting spending would depend on were the cuts would be made is how people will react. Its the special interest groups that tax payers fund that need the first cuts. Way to much to discuss.
A Government that worked for the people stayed with in a budget and created revenue so they could use the excess to fund humanitarian programs is what we need. NOT A KICK THE CAN DOWN THE ROAD GOOBERMENT...

dentkiller
11-22-2011, 01:09 PM
Think a step further. What are the consequences of cutting spending and no more QE?


If they cut spending there is no more debt and with no more debt there is no more money and the system collapses faster then it is now.

KILOFINAL
11-22-2011, 01:56 PM
why the rally? short covering plain and simple. I look forward to lower prices and confirmation of a low $20's spot price.

coindog
11-22-2011, 01:57 PM
If they cut spending there is no more debt and with no more debt there is no more money and the system collapses faster then it is now.

and before we got there the citizens would get angry/ugly due to big recession so they will never do it.

SilverTongueDevil
11-22-2011, 02:04 PM
Debt will always be held by the people. Debt will always be held by businesses.
If the Government needed for a reason to hold debt it should be held by its citizenry in the form of bonds not by foreign investors and special interest groups. When you have other countries holding your debt you can no longer just act for the good of the people of your country.....

I understand what your saying but its logic is flawed in so many ways.
Many people live by your words way beyond there means way to much debt to income level. And they are happy doing it tell Murphys law visits them.
And there loss is beyond what a person who had a majority of there assets paid for would lose.

Icculus
11-22-2011, 02:40 PM
AliShibaz,

Quarter mile times are not the only measure of speed and performance. Going fast in anything other than a straight line costs a lot more dough than just bolting forced induction on an old muscle car.:D

KingOfSilver
11-22-2011, 03:46 PM
Why the rally???Anyone and everyone who is in silver reads this forum,its simple i called bottom yesterday:D