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main1event
4th November 2008, 07:34
The SLV is above 10.20, which constitutes a breakout from the downtrend. We should be heading for 12 short term. I believe we are going much higher than that. Fireworks time.

We need the GLD above 750 before the real fireworks start.

LETMYSILVERGO
4th November 2008, 07:56
See Oboma is saving the day already!!!!!! { smiles}----

My gal just called form the Atlanta airport,( has been the since 10 pm last nite, had a direct flight from orlando to Dayton, so much for that.

THE AIRLINES SHOULD BE ASHAMED-----ESPECAIALLY WHEN THEY MAKE THE YOUNG AND OLD SLEEP ON CONCRETE FLOORS, AND NO ONE EVER GIVES U AN ANSWER.....I am un-stressing.....thanks you.

main1event
4th November 2008, 08:05
See Oboma is saving the day already!!!!!! { smiles}----

My gal just called form the Atlanta airport,( has been the since 10 pm last nite, had a direct flight from orlando to Dayton, so much for that.

THE AIRLINES SHOULD BE ASHAMED-----ESPECAIALLY WHEN THEY MAKE THE YOUNG AND OLD SLEEP ON CONCRETE FLOORS, AND NO ONE EVER GIVES U AN ANSWER.....I am un-stressing.....thanks you.

I agree about the airlines, but what do you do? Realistically its not a very profitable business. People are unwilling to pay what it really costs to fly. Tickets should be well over $400.00 one way for these airlines to be profitable.

goldragon
4th November 2008, 08:06
main1event, thanks for the call.
This rally looks like it is very strong and i hope it will last. I hope it is not a bear trap or a sucker's rally, and I was suffered in couple of them! If this one can last several days I will get in. We will see!

main1event
4th November 2008, 08:11
That three flag bottom pattern is starting to take effect this should be a very very strong rally.

This is a bear market rally but we are in a short term bull market. We will rally until sometime next year. It will be time to get out in April

From what I can see we should rally to 10500 or 11000 on the Dow. Its time to be long stocks.

skijake
4th November 2008, 09:52
That three flag bottom pattern is starting to take effect this should be a very very strong rally.

This is a bear market rally but we are in a short term bull market. We will rally until sometime next year. It will be time to get out in April

From what I can see we should rally to 10500 or 11000 on the Dow. Its time to be long stocks.

Dollar weakening , Metals up , I guess the 3 flag bottom doesn't happen often but it looks like a great indicator. Go silver:cool:

main1event
4th November 2008, 10:02
The three flag pattern is a very rare pattern, when you see it more than likely you have seen the bottom.

Also notice that the $USB (US Bonds ) have formed what looks to be a 3 flag top. If thats the case we are going to see very high interest rates in the next couple of years. Think 7 to 8%. Higher interest rates are good for banks, they will have fewer loans but they will be very profitable.

skijake
4th November 2008, 10:24
The three flag pattern is a very rare pattern, when you see it more than likely you have seen the bottom.

Also notice that the $USB (US Bonds ) have formed what looks to be a 3 flag top. If thats the case we are going to see very high interest rates in the next couple of years. Think 7 to 8%. Higher interest rates are good for banks, they will have fewer loans but they will be very profitable.

You have to know that is coming. Which ever banks make it thru will have to rebuild the balance sheets.

MikeJ
4th November 2008, 10:51
That three flag bottom pattern is starting to take effect this should be a very very strong rally.

This is a bear market rally but we are in a short term bull market. We will rally until sometime next year. It will be time to get out in April

From what I can see we should rally to 10500 or 11000 on the Dow. Its time to be long stocks.

What are you talking about? If we're in a bear market, there's no bull. Its a long term bear market for stocks and a long term bull market for commodities.

research24
4th November 2008, 11:09
The yen carry trade is back in business as the G7 successfully forced the yen back above 100/$. BoJ is merrily turning out dollar loans to hedge funds again which is pouring money back into markets, drawing individuals back into stocks again too. Brokers all report huge increases in Joe Plumber buying (silly fools).

Unfortunately, this is a fool's rally just like occurred in 1930 which went on to see an 89% wipe-out. Hedge funds are back buying up some of the metals and commodities they sold off to pay loans and margin. Virtually nothing has changed in fundamentals except they get worse. If you want to get out of silver, now is the time to start thinking about it as this will not last unless Uncle Sugar starts mailing out checks.

main1event
4th November 2008, 11:27
Mike, there is always bull and bear markets within longer term trends. I believe we are now in a cyclical bear market that started last year after the market peaked. We can now have a bull market that lasts from 3 to 6 months. From there the long term trend should take effect.

Even though commodities fell 50% and that is considered a bear market, we could be in a longer term bull market that starts to reassert itself soon. If that is truly the case then within 1 to 2 years time we should reach the old highs in commodities. That does not mean we make new highs just that we reach the old ones. It could be 3 to 4 years before that old highs are surpassed.

goldragon
4th November 2008, 13:16
It is too early to tell. Now silver is faded. Gold is still strong. If it is breakout, there should have some pull back, it is normally. If it is sucker's rally it is too early to suck the new money into the market. Therefor sit tight if you are right! If you are hesitate don't position your money!
Patient! Patient!

main1event
4th November 2008, 14:25
All eyes are on gold, once gold takes out 770 or the equivalent of 75 to 76 on the GLD, Silver will make up some lost time. We'll get there, I have faith. If the dollar falls another buck or two we'll be in good shape.

SkinnerVic
4th November 2008, 15:02
All eyes are on gold, once gold takes out 770 or the equivalent of 75 to 76 on the GLD, Silver will make up some lost time. We'll get there, I have faith. If the dollar falls another buck or two we'll be in good shape.

How about that - GLD closing at 75.48 +4.38 (6.16%) today. Keep the eye on the DXY.

main1event
4th November 2008, 15:35
Everything is falling into place. Silver stocks took out the highs of the day and are leading Silver. Silver will be over 11.00 by next week we may see 12 by then.

Keep buying silver stocks on the dip.

MikeJ
4th November 2008, 17:49
Mike, there is always bull and bear markets within longer term trends. I believe we are now in a cyclical bear market that started last year after the market peaked. We can now have a bull market that lasts from 3 to 6 months. From there the long term trend should take effect.

Even though commodities fell 50% and that is considered a bear market, we could be in a longer term bull market that starts to reassert itself soon. If that is truly the case then within 1 to 2 years time we should reach the old highs in commodities. That does not mean we make new highs just that we reach the old ones. It could be 3 to 4 years before that old highs are surpassed.

I see what you're saying, but commodities have always had violent corrections like these. Take oil for instance. We've been in a bull market since 1999. Its going much higher I'm afraid.

research24
4th November 2008, 18:43
Oil will be going into short supply very soon. Output is dropping faster than demand. We are more than one million barrels short already tho the market doesn't seem to recognize this.

MikeJ
4th November 2008, 19:54
Oil will be going into short supply very soon. Output is dropping faster than demand. We are more than one million barrels short already tho the market doesn't seem to recognize this.

Yeah its going to be bad. With no new oil discoveries, prices are going to skyrocket.

skijake
5th November 2008, 09:54
All eyes are on gold, once gold takes out 770 or the equivalent of 75 to 76 on the GLD, Silver will make up some lost time. We'll get there, I have faith. If the dollar falls another buck or two we'll be in good shape.

They are throwing everything at Gold at 760 again. Would like to bust thru and have some clean water for a nice run.;)

Kelly
5th November 2008, 10:05
Oil will be going into short supply very soon. Output is dropping faster than demand. We are more than one million barrels short already tho the market doesn't seem to recognize this.


I don't think the market even cares, do you? All they seem to be in it for is personal profit and everybody else be damned. It's not just oil either. They have taken silver down so far it's now unprofitable to mine, and they have taken several of the food commodities down so low that most farmers cannot possibly sell for that and make their costs, let alone make any kind of profit.

The whole commodities market has really gotton way out of control and they are truly screwing with the well-being of the world. They are literally producing the perfect storm for serious oil and food shortages.

Free market be damned, what they are doing should be illegal because it is threatening to all of us.

main1event
5th November 2008, 12:13
We'll get there, in due time. Just be patient.

goldragon
5th November 2008, 20:38
This Rally might turn out to be a sucker rally or bear trap. Of course it is too early to say. We should watch carefully, otherwise these positioned may suffer a loss. However, I cross my figures for these positioned.

FedFixNix
6th November 2008, 02:42
I doubt any rally will be sustained for very long in this environment. Maybe in physical silver or gold, but not paper or spot. This train wreck is going to be bloody.

I suspect TPTB allowed the election of BO so he could take the rap for the coming series of catastrophes. I mean, what better time for Bush, Cheney, Paulson, Bernake, and the other thieves to bail? They have their strongholds and fortresses ready. Their bunkers are the best money can buy.

Its a good time to duck and cover before the SHTF. Let Obama take it all.

Yeah... that;s the ticket.

goldragon
6th November 2008, 06:29
It looks like it was a sucker rally except gold and silver. Gold and silver may go up from here even if there is a lot of pessimistic mood like mine. Today it might be another bloody day!

main1event
6th November 2008, 06:45
Gold and Silver are holding up pretty well so far. I personally believe we have seen the lows in gold and silver. It might not be a moon shot up but as long as we dont see new lows, we should be in good shape when the market does turn up.

skijake
6th November 2008, 09:52
Gold and Silver are holding up pretty well so far. I personally believe we have seen the lows in gold and silver. It might not be a moon shot up but as long as we dont see new lows, we should be in good shape when the market does turn up.

Just holding value works for me. The moonshot probably will come down the road. Decision time then.;)

goldragon
6th November 2008, 10:28
It looks like it is a bloody day for SLV and GLD too. Hope it is not a sucker rally for gold and silver either.

ascentient
6th November 2008, 10:29
Damn. Silver just got dumped about 7% in a minute. Again. From $10.50 to $9.90 in a damned small space of time.

skijake
6th November 2008, 10:39
Damn. Silver just got dumped about 7% in a minute. Again. From $10.50 to $9.90 in a damned small space of time.

It takes 3 weeks to go up 50 cents and 3 minutes to lose 50 cents. Not rigged at all.;)

ascentient
6th November 2008, 10:44
Today's high - $10.81. Today's low $9.89. News announced between high and low. None.

Number of people who are probably more inclined to take delivery from COMEX. Probably more than none.

Losers: Margined traders. SLV holders.

Winners: Those who have cash to go to Apmex or Tulving this hour rather than one hour ago and pick up more bars.

FFS when will this end?

research24
6th November 2008, 11:05
Today's high - $10.81. Today's low $9.89. News announced between high and low. None.

If that's what you think then you aren't paying attention. The whole economy is crashing down around our ears. Isn't that news? Industrial demand for silver is falling through the floor.

ascentient
6th November 2008, 11:12
That's not news though. Surely the market should have seen that coming a month back?

It was only last week we agreed that the stock market would crash post-election. I guess I just harboured belief that PM's would stay relatively stable during the market decline.

On the upside, the lower prices remain, the more I can buy. That's the silver lining.

skijake
6th November 2008, 11:28
If that's what you think then you aren't paying attention. The whole economy is crashing down around our ears. Isn't that news? Industrial demand for silver is falling through the floor.

I wonder if they will ever give it away for free like they do with cheese. I want to know where that line starts!;)

research24
6th November 2008, 13:44
It all goes to prove that we are mere mortals and very fallible. Just when we think we got it figured out, the rug is pulled out from under us.

goldragon
6th November 2008, 16:06
I have warned for several times, the recent rally might be a sucker rally or a bear trap for the general market, but for gold and silver i was not sure. till today, both performed not too bad. especially gdx is in a good shape. however, the bear market firstly conquered general market then precious metals. therefore we can not live in gold and silver without caution!

jason
6th November 2008, 16:13
Never try to catch a falling knife,silver may go lower the charts show no turn around yet as far as i can see

goldragon
6th November 2008, 16:48
I agree! don't catch falling knife!!

goldragon
6th November 2008, 18:58
USD is very strong. It formed a peanut and it will rise again.
http://quotes.ino.com/chart/?s=NYBOT_DX&v=d6