View Full Version : There goes the $28 support

20th January 2011, 09:23
I went long too soon expecting that the $28 dollar support was too strong. I held a $28 dollar stoploss and so minutes later I closed my position with a 4000,- loss ... I think it can fall back to about $26

Anyone else have an opinion on the subject ?

20th January 2011, 09:28
If it breaks through $27.50 I wouldn't see support until $25. That's just my perspective, and I'm not a market trader...just looking for where physical buys are a "value"

20th January 2011, 09:31
Oke, yeah well I think the chance that 27,50 will fall is pretty big I think.. $28 was a stronger support so I think it can go quite fast from here on.

20th January 2011, 09:35
I hope it (paper silver) goes to zero.

20th January 2011, 09:36
the sooner we consolidate the faster we bounce back :) hope your all buying right now while we are f'ing around in the high 20s

20th January 2011, 09:45
when the price touches or goes near $26 .. I will go full long with $130.000, blast off ... except when bernanke comes with a new "Push the dollar into hyperinflation" plan then I won't wait for the price to drop further

20th January 2011, 09:48
lol yeah as soon as QE2 is over in March then the game will be on, because the FED will either have to have QE3 to keep the DOW in a bull run, plus we vote on the debt ceiling in March. That month will be a very interesting one in deed. IMHO the FED has no choice. It's either withdraw it's support and have the markets free fall or expand the money printing and eventually have inflation when it finally reaches our shores. The markets (especially the Nasdaq) and the dollar have both been in free fall the past few days, when does this finally start to affect and turn around the PM market? You can't tell me all this manipulation will hold the commodity markets down forever.

20th January 2011, 09:52
yeah exactly,, and the beauty of it all is:

Whether they withdraw and let the stockmarkets fall, or they fcku up by sending the dollar into a "Zimbabwe status" Silver will skyrocket as a safe harbor.

20th January 2011, 09:59
jezus we are in a freefall here... I shut down my short position this morning when it was @ -2,00 % .... if I had waited, my profit would be a staggering 12.000 EURO higher :(:(

20th January 2011, 10:13
as Mike Maloney put it in the past couple of days, don't pay attention to the short term noise

Ardent Listener
20th January 2011, 10:24
Silver Going Mainstream in 2011

By: The Gold Report and Sean Rakhimov

http://news.silverseek.com/SilverStrategies/1295142508.php (http://news.silverseek.com/SilverStrategies/1295142508.php)

From the article.....................

TGR: Does that mean you're selling silver now?

SR: No, it doesn't mean that. You can play these moves if you are a trader, but I'm not. I'm a long-term investor. I never sell silver. I may trade some stocks, but that is not usually related to a current sentiment; it's more about the stock itself. But I do not sell silver as a strategy. We're in a bull market, and the way to play a bull market is to get in and stay in.

20th January 2011, 10:26
agree, what is coming is inevitable, I think it will all start to ratchet up in March and by the end of the year inflation will have hit our shores in a big way. We can't export it forever and pretend everything is ok, especially when the Chinese keep tightening their monetary policy because they are the ones experiencing very high inflation.

20th January 2011, 11:35
so do you guys think we have bottomed out on this dip or still have farther to fall to 25 or so? I feel like we are holding on by our fingernails at the 27.50 support level.

20th January 2011, 11:47
so do you guys think we have bottomed out on this dip or still have farther to fall to 25 or so? I feel like we are holding on by our fingernails at the 27.50 support level.
Think of it this way.
With unlimited naked shorting of silver,
it is the same as allowing hands on a knob controlling a valve
that when turned lets the pressure out of the system. (right into their wallets)
They have opened the valve a few times today so far.
The consumers rebuild the pressure a bit, then another drain, and so on for years.
Prisonplanet indeed.

Ardent Listener
20th January 2011, 12:22
so do you guys think we have bottomed out on this dip or still have farther to fall to 25 or so? I feel like we are holding on by our fingernails at the 27.50 support level.

That seems to be the bottom for today. We may continue to see some losses until the end of the month though. $25 may be the far outside low. If so, four ounce for $100.00 again would be nice.

20th January 2011, 15:10
Bring on silver at $20 Dinars

I'll be happy to even look for a bank loan at that point, back up the truck, and trade paper with green ink on it for even more physical silver.

Crash Silver....Crash Damn You! (wait until tomorrow though)

20th January 2011, 15:26
I want one more great big fat exciting mouth watering jaw dropping "Buying" opportunity.

Crash Silver...Crash Damn You! (wait until tomorrow though)

20th January 2011, 22:30
I am new to futures trading, but I know firsthand the idea of support and resistance based on charts alone can really screw up your P/L.

When the march contract dropped this pit session and the last dime above 28$ was bid, sellers dropped the smackdown on them. I do not think the bids were pulled based on the volume at that level. Screw the charts. Watch depth of market.

20th January 2011, 23:36
The 800 pound guerilla is again the benefactor of margin limits


This will get eaten up in a week...by the locust storm looking to route the shylocks

Crash Silver...Crash Damn You! (wait until tomorrow though)

24th January 2011, 10:20

Unlimited naked short selling.

The shorts will be covered AFTER the planned dollar collapse.

Nefarious financial system.