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maic
26th November 2009, 07:39
Silver getting a hit right now and when I checked 2008 and 2007 action in thanksgiving, market was both times completely flat.

So someone working overtime this thanksgiving, eh? Or what do you guys think?

And I thought that would have a day off from my comp while all you yanks eat turkey and stuff but NO, here I am sitting like a duck (or turkey )

ryshay
26th November 2009, 07:58
Silver getting a hit right now and when I checked 2008 and 2007 action in thanksgiving, market was both times completely flat.

So someone working overtime this thanksgiving, eh? Or what do you guys think?

And I thought that would have a day off from my comp while all you yanks eat turkey and stuff but NO, here I am sitting like a duck (or turkey )

Yeah, silver has lost more than it gained yesterday.
I was kindof hoping that John's long-range trading channel had been broken to the upside, but it looks like we are still locked in the channel (see video).

http://www.youtube.com/user/stellaconcepts#p/u/0/v3m-6uTOqkg

The good news is that the channel is still going up, long-term.

The problem with gold and silver trading at multi-month highs is that there are a lot of profit-takers and shorters at these lofty heights.

I will focus on eating today to distract me. :D

SilverJim
26th November 2009, 09:59
It's only a holiday in the USA. Perfect time for Ben Butthead Bernanke to send a few billion to foreign central banks and have them buy USDs while we all are off feasting. Evil doesn't take a day off. :mad:

ChaunceyBigelsworth
26th November 2009, 10:08
i was hoping maybe the anticipation of black friday would give the dollar a little rally and a dip in silver so i can buy more. then when they realize sales aren't what they expected the dollar will drop again.

Relayer
26th November 2009, 13:43
is like silverjim said......the dollar was up .70 a few minutes ago. The holiday trading lull is an opportune time for those who want the dollar higher to carry out their mandate. There is significant resistance at 75, approaching that level now.

Silver once again found support at $18.40-$18.50 and is bouncing back.

The thing to realize here is that PM's have recently been moving independently of the dollar. Right now the buying pressure underlying the recent move in PM's has broken their contrary movement. Since OCT 25 Gold is up $135 while the dollar has traded sideways.

Relayer
26th November 2009, 14:00
So the Dubai debt problem has caused the typical knee jerk reaction (money moving into the dollar). Lets see how long and strong it is!!