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View Full Version : Looks like London just kicked in and and the spot price has dropped 70 cents



valerb
7th December 2010, 09:41
and it has dropped fast!!! Now it's down 80 cents.

Hopefully we'll have a quick turnaround

valerb
7th December 2010, 09:52
and it has dropped fast!!! Now it's down 80 cents.

Hopefully we'll have a quick turnaround

That was a rapid 30 cent re-bound

kvanar
7th December 2010, 09:52
Whats happening?? Could it be the line in the sand automated sell stops!?
Bizarre...but that's spot silver for ya...



and it has dropped fast!!! Now it's down 80 cents.

Hopefully we'll have a quick turnaround

beach miner
7th December 2010, 10:37
Maybe the higher the spot, the higher the volitility. We'll probably get Whip-Lash when it hits the Hundreds. Ten dollar swings might be common then. Can't believe that I'm still buying. I thought I would stop at 20 then 25. Guess as long as it is under 50 I'll still keep at it. It must be the Rush going to the Post Office and getting those heavy packages in the mail. Ya got to admit that has been a fun part of this experience. Maybe start buying a few Keee's of Copper to keep from gettin a Jone's. See Ya At The Top.

valerb
7th December 2010, 10:38
It took a little over an hour and we gained 40 cents back, hopefully we can stay on the positive side for the day.

Mighty Moose
7th December 2010, 10:44
and it has dropped fast!!! Now it's down 80 cents.

Hopefully we'll have a quick turnaround

See what I mean now after what I'd said from the other day.

"I see that $30 line as a very fat line from $30 to $31, which when fully crossed will cause more manic buying behavior."
Silver was getting deep into that line - the high $30s - and then BAMM! But notice how it did not want to stay under $30 for any significant length of time.

No worries....it'll all happen soon enough & $30-$31 will be but a distant, forgotten memory when your biting your nails from $45 to $49 and change waiting for the historic crossing of the big $50-mark threshold. :)

harley1
7th December 2010, 12:06
Maybe the higher the spot, the higher the volitility. We'll probably get Whip-Lash when it hits the Hundreds. Ten dollar swings might be common then. Can't believe that I'm still buying. I thought I would stop at 20 then 25. Guess as long as it is under 50 I'll still keep at it. It must be the Rush going to the Post Office and getting those heavy packages in the mail. Ya got to admit that has been a fun part of this experience. Maybe start buying a few Keee's of Copper to keep from gettin a Jone's. See Ya At The Top.

i have to admit it is fun to get those packages from the post office

ccjoe
7th December 2010, 12:14
and it has dropped fast!!! Now it's down 80 cents.

Hopefully we'll have a quick turnaround

Everyone in London and throughout the world is buying copper:)http://www.bloomberg.com/news/2010-12-07/copper-premium-rises-in-london-on-concern-about-supply-as-stockpiles-drop.html

ccjoe
7th December 2010, 12:17
i have to admit it is fun to get those packages from the post office

I just got 4 more 66 lb boxes from the mailman of .999 copper bullion bars> every box of 30 kilo bars is only $390!

Ardent Listener
7th December 2010, 12:23
I just got 4 more 66 lb boxes from the mailman of .999 copper bullion bars> every box of 30 kilo bars is only $390!

You better give your mailman a massage gift certificate this Christmas cc. :)

ccjoe
7th December 2010, 12:26
You better give your mailman a massage gift certificate this Christmas cc. :)

It's a gated community here, like our last place, so I could trust him and DID tell him it was copper and said yesterday that I would give him a xmas bonus> his poor back.
I still have the braces on for one more week so I can't lift these first 500 kilos shipped to the house

maplesilverbug
7th December 2010, 19:20
It's a gated community here, like our last place, so I could trust him and DID tell him it was copper and said yesterday that I would give him a xmas bonus> his poor back.
I still have the braces on for one more week so I can't lift these first 500 kilos shipped to the house

Funny thing, that...

I knew a man many years ago who worked for the post office in a big wig position and also lived in a gated community.
He opened a business with $50,000 "loans" from his two best friends (one using his inheritance!).

I worked for this man for a brief period before very fishy things started going on and soon quit.
Upon tax time, I called up the Canuck IRS to get a copy of my tax info (guy never sent me one).
The IRS had NO record of either him or his business.
I was asked to call them back the next day and proceeded to have a 30 minute intel gathering with the tax bozos about this big wig guy.

What he was doing was running all his "business" expenses through the post office, hiding them like only a big wig can. Then he sold a franchise location to one person, the very next day he sold all the equipment from that newly purchased franchise to another person...took both piles of money and went on the lamb. His initial business went under very shortly after -- as well as taking both of his friends' money.

He was a common crook -- working for the post office and living in a gated community.

What's the saying...TRUST NO ONE!
(especially those inside the gate!) :p

What is Truth?
7th December 2010, 19:32
Gates can be locked from both sides.

What is Truth?
7th December 2010, 19:48
http://www.youtube.com/watch?v=ynxVAmHr4_Q

My apologies if silverhartbone has already posted this...............

maplesilverbug
7th December 2010, 19:49
Gates can be locked from both sides.

Reminds me of a joke:

Canada will have the world's biggest zoo once they put a fence around America! :O


heh heh heh

thebrandts
7th December 2010, 23:23
Everyone in London and throughout the world is buying copper:)http://www.bloomberg.com/news/2010-12-07/copper-premium-rises-in-london-on-concern-about-supply-as-stockpiles-drop.html

CCJOE - Do you think the demand to purchase products (containing substantial amounts of copper) is gonna increase in the near term? Will it just be the silver/gold stackers that'll be buying the stuff?

My concern is that a further declining economy will actually drop the demand for copper.

valerb
8th December 2010, 01:29
CCJOE - Do you think the demand to purchase products (containing substantial amounts of copper) is gonna increase in the near term? Will it just be the silver/gold stackers that'll be buying the stuff?

My concern is that a further declining economy will actually drop the demand for copper.

During the meltdown in 2008, Copper was similar to Silver but a little deeper in the loss column. Copper was at $4 and dipped to around $1.35 - $1.40. There is a lot of talk about Coppers price at $4, but this is the 3rd time in the past five years it's been at this level.

If you want to compare apples to apples. Silver and Gold were at new era highs when the market dropped. Gold was at $1,000, Silver was at $20 and Copper was at $4.

Now Gold is up 40% from 2008, Silver is up 45% from 2008 and Copper is up 0% as it's just a hair under $4 right now. You can buy Silver at the spot price in volume and Copper in volume with a 50% premium. Now if copper was up 45% and you could buy it at the spot price and Silver was just even with 2008 and it had a premium of 50%. Copper would be by far the best investment.

Buy what you want, but do a little math first. Don't buy the hype, buy using your head or at least a calculator.

The Volume of Copper build up when the price dropped was huge and is still more than twice the levels going into the financial meltdown. People are talking about declining Copper levels, but compared to what? If you think JPM jumping into the Copper market is a winner, then maybe you should go short on the COMEX for Silver, as well as buying some Copper.


http://www.kitconet.com/charts/metals/base/spot-copper-5y.gif (http://www.kitcometals.com/charts/copper_historical_large.html#5years)

http://www.kitconet.com/charts/metals/base/lme-warehouse-copper-5y.gif (http://www.kitcometals.com/charts/copper_historical_large.html#lmestocks_5years)