Silver price discussion and analysis

[BREND]

Re: SILVER

"Always" is a bit of silly word to use for seasonals in PMs. A 7-8 yr chart of this PM shows this is not always the case.

I shorted 1 lot of Comex Silver at US$15.89, today its trading at US$15.48, earning USD2,050 in just 1 week. Not so silly har...:

 

[Temjin]

Re: SILVER

Does anybody know if there is an Aussie ETF for silver?

Cheers

BT

Nope, there isn't one here unfortunately.

The SLV, DBS or DBP is your best bet, only through the US Stock Exchange though.

I shorted 1 lot of Comex Silver at US$15.89, today its trading at US$15.48, earning USD2,050 in just 1 week. Not so silly har...:

I hope your stop loss is sensible too especially when so much volatility is going on right now. How much were you prepared to risk in that contract? Hope it's around 1-2% of your equity. heh

 

[refined silver]

Re: SILVER

I shorted 1 lot of Comex Silver at US$15.89, today its trading at US$15.48, earning USD2,050 in just 1 week. Not so silly har...:

Didn't get stopped out when it rose to well over $16 after your post, or did you put the short on days after your post?

I didn't say a short-term short was silly, if s/t trading is your game, I said saying silver always goes down Jan/Feb was silly as it doesn't.

 

[BREND]

Re: SILVER

No stops for me on silver, its only 1 lot.

Intends to buy copper tonight.

 

[BREND]

Re: SILVER

After hearing of interest rate cut by Fed, I took profit on silver. And then bought Comex Copper and Mini Dow Jones.

 

[refined silver]

Re: SILVER

After hearing of interest rate cut by Fed, I took profit on silver. And then bought Comex Copper and Mini Dow Jones.

Was there any profit left? By 9.22am NY time when the news of the cut hit, Silver was between 15.70 and 15.80, (after backtesting the breakout as I suggested with charts a few days ago on this thread.)

 

[BREND]

Re: SILVER

Was there any profit left? By 9.22am NY time when the news of the cut hit, Silver was between 15.70 and 15.80, (after backtesting the breakout as I suggested with charts a few days ago on this thread.)

Yes, bought back at 15.78, profit is US$539.08.

 

[refined silver]

Re: SILVER

Yes, bought back at 15.78, profit is US$539.08.

Well done! Tough way to make a living though

 

[BREND]

Re: SILVER

Well done! Tough way to make a living though

I had also long cotton and took profit on 2 year Treasury Bonds.

 

[Enoch]

Re: SILVER

Ron Paul calls for Gold and Silver to back the US $.

http://www.youtube.com/watch?v=nWyygiyPbdA

 

[explod]

Re: SILVER

Finally we seem to be on the way. Gold is now at an all time high. Silver needs to more than double from here to do the same. What a bargain.

 

[Enoch]

Re: SILVER

Finally we seem to be on the way. Gold is now at an all time high. Silver needs to more than double from here to do the same. What a bargain.

I agree with you that silver is heading up. However just wondering how high the silver price would have gone without the hunt brothers trying to corner the market?

 

[explod]

Re: SILVER

Well we have finally cracked the $17 mark. Has been a tough resistance to crack. Willl be interesting to see where to from here. Strong breaks in silver often lead gold uplegs too.

 

[Kauri]

Re: SILVER

gold futures are lower following a massive sell order in the silver pit, 25mn oz, that cracked silver futures down to $16.79.

Cheers
......Kauri

 

[refined silver]

Re: SILVER

Silver also had a new 27yr intraday and closing high today of $17.47.

Not everything is going down at the moment. At some stage the commodity based equities WILL reflect the prices of their underlying resources and play a massive catch-up.

 

[ocgunner77]

Re: SILVER

Given the recent gains in Silver, why have the share prices of both CXC and MMN continued to slide? Any thoughts?

Btw - am new to the silver game but hold in gold stocks; mainly juniors. Based on what I've read though, the gold/silver ratio may correct soonish, with this year possibly helping it along its way. My main concern is whether to go with a big producer like CXC or speculate with MMN.

 

[ithatheekret]

Re: SILVER

Given the recent gains in Silver, why have the share prices of both CXC and MMN continued to slide? Any thoughts?

Btw - am new to the silver game but hold in gold stocks; mainly juniors. Based on what I've read though, the gold/silver ratio may correct soonish, with this year possibly helping it along its way. My main concern is whether to go with a big producer like CXC or speculate with MMN.

I think unless they are a so called bluechip ( some aren't that blue more a tinge of ) , and they're up and running , selling a product , they'll all just suffer the Dec-March duldrums . The last few years you could set your clock by it . It's just a market sync thinglybob that every trader/investor has to become acquainted with .
The spec world is one built on promises , those that can deliver get the plaudits , the rest cop ....... Get round to the cyclicals and you can time " roasts " to it .

I go back on all the promises first and see who has delivered , then try to get in sync with the share ones after .

 

[ocgunner77]

Re: SILVER

I think unless they are a so called bluechip ( some aren't that blue more a tinge of ) , and they're up and running , selling a product , they'll all just suffer the Dec-March duldrums . The last few years you could set your clock by it . It's just a market sync thinglybob that every trader/investor has to become acquainted with .
The spec world is one built on promises , those that can deliver get the plaudits , the rest cop ....... Get round to the cyclicals and you can time " roasts " to it .

I go back on all the promises first and see who has delivered , then try to get in sync with the share ones after .

Thanks for the thoughts ithatheekret - much appreciated. Will do some more research but it looks likely i'll go with CXC at this stage. Apparently they'll have a new silver mine up and running in Potosi Bolivia very soon. Its a coincidence that I've actually been to that part of Bolivia last year and actually visited a huge silver, lead and zinc mine that apparently helped prop up the Spanish empire for a few hundred years! Looks like they believe there's a lot more where that came from...

 

[refined silver]

Re: SILVER

Given the recent gains in Silver, why have the share prices of both CXC and MMN continued to slide? Any thoughts?

Btw - am new to the silver game but hold in gold stocks; mainly juniors. Based on what I've read though, the gold/silver ratio may correct soonish, with this year possibly helping it along its way. My main concern is whether to go with a big producer like CXC or speculate with MMN.

If I can't decide between 2 stocks, 2 bob each way has always worked out well. Often the one I thought would move first or highest wasn't the one.

 

[roland]

Re: SILVER

Hi Guys,

I posted this in the CXC thread, but is probably more appropriate here.

Here is an interesting article regarding the renewed interest in Silver for things such as ID cards, medical dressings etc.

The loss of demand in Silver due to the waning of the chemicals for wet photography has kept Silver in surplus etc...

The full article is from Mineweb, http://www.mineweb.co.za/mineweb/view/mineweb/en/page33?oid=47936&sn=Detail

An interesting part of the article states that a lot of miners are not really into Silver, but it is a lesser thought of by-product to other mining activities. So I suppose as metals like Gold and Platinum continue to draw increased mining attention, then we will have more Silver - purely as a by-product.