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main1event
3rd December 2009, 09:43
The financials are falling rather hard today, the dow has been unable to break 10500. The transports have not confirmed the latest move. The market has been trading on light volume, which means the commercials are probably not participating.

I'd suggest just moving to the sidelines if you own stocks. Not sure how gold and silver will fair other than to say gold is overbought substantially and could correct at any time.

The financials have me a little shaken, especially BAC. Something could be up there, watch that one carefully.

TexAsh
3rd December 2009, 10:02
The financials have me a little shaken, especially BAC.

Blood Alcohol Content?

chroNick
3rd December 2009, 10:17
Main is back at it again. One thead he is saying buy, buy, buy and the next "gold is overbought". Last night he told me it wasn't when I suggested it was because it was moving too far ahead of the other commodities such as oil.

When you talk out of both sides of your mouth you are right 50% of the time.

I agree. lol there wont be a market collapse either

miser109
3rd December 2009, 10:46
Blood Alcohol Content?

BAC is the ticker symbol for Bank of America

ccjoe
3rd December 2009, 12:05
I agree. lol there wont be a market collapse either

I think Main may be in the bipolar thing with the mood swings:)
First EPIC PROPORTIONS rally then collapse?
Funny and entertaining.
I thought I was intense:)

ccjoe
3rd December 2009, 12:07
The financials are falling rather hard today, the dow has been unable to break 10500. The transports have not confirmed the latest move. The market has been trading on light volume, which means the commercials are probably not participating.

I'd suggest just moving to the sidelines if you own stocks. Not sure how gold and silver will fair other than to say gold is overbought substantially and could correct at any time.

The financials have me a little shaken, especially BAC. Something could be up there, watch that one carefully.

After watching Bernanke having his lunch handed to him live by mr. perfect game jim bunning, we'll call this the bernanke collapse instead of the santa claus rally:)

ryshay
3rd December 2009, 12:27
I think Main may be in the bipolar thing with the mood swings:)
First EPIC PROPORTIONS rally then collapse?
Funny and entertaining.
I thought I was intense:)

I think that LONG-TERM PMs will go up.

The question is: will there be a SHORT-TERM collapse along the way to the highest heights?

For example, gold hit $1000 in Mar 2008, and in Nov 2009 it is at $1215.
What happened on the way up? Oh, a little crash to $700 in Dec 2008.

I am in PMs for the long-haul. I am riding out any short-term drops like in late-2008.

But we need to be prepared for a pullback. A good runningback knows how to brace himself right before he gets tackled. It makes the difference between making the down and fumbling the ball while getting your neck broken.

Short-Treasuries went NEGATIVE yield last week.
(The last time this happened was right after the Lehman Bros bankruptcy in Nov 2008, when PMs tanked).
Dubai has essentially defaulted on $80+ billion.
(Abu Dahbi has not said they would pay it.)
Bullion bank short gold/silver positions on the COMEX are at record highs, with no signs of slowing.
Record highs in gold are not confirmed by silver (high GSR) or HUI (lagging gold).
DOW at record highs and seeming to top out.
(if the DOW goes down, don't you think silver will too, at first?)

I am holding my PMs through any short-term deflationary tumbles, but some PM-investors think that PMs can only go up and will be dissapointed if they don't prepare for what can happen to pull PMs down again as in 2008.

main1event
3rd December 2009, 12:35
I do believe Silver is going alot higher and we are going to test $21.00 very soon. Here is my concern. The dow can not break 10500 as of yet. The market seems like its distributing a bit. Low volume, stocks are not gaining much traction.

Look at financials they are extremely weak, they havent been able to trade back up towards their highs.

Gold has had an amazing run, I have no clue where this rally will end and neither does anyone else. It could pull back if this market falls hard and thats my concern. By the looks of the charts the last few days, I thought the Dow would have broken out today and in fact it had every opportunity to do that. yet still here we are unable to break 10500.00

My initial target for Silver was $19.00 from 17.50 and we are here. Silver seems to be lagging gold again here after the last couple of days. If silver does pull back it will be a great buying opportunity.

BTW, Gold and Silver usually rest in December and then have a monster run from Jan- April. So I'm bi-polar because Im' a trader and I flip flop.

I entered FAZ today at 18.86 and its up to 19.64 currently. That goes to show how weak the financial sector is, and it has me asking myself, "Can the market rally without the financials?"

We'll find out soon enough.

Mighty_Men_of_Baltimore
3rd December 2009, 12:46
The financials are falling rather hard today, the dow has been unable to break 10500. The transports have not confirmed the latest move. The market has been trading on light volume, which means the commercials are probably not participating.

I'd suggest just moving to the sidelines if you own stocks. Not sure how gold and silver will fair other than to say gold is overbought substantially and could correct at any time.

The financials have me a little shaken, especially BAC. Something could be up there, watch that one carefully.

I say this in a friendly way - You need to chill out, too much market watching lately. Have a beer and pizza, no TV or Computer for a day or two. You'll be a much happier person.

metalbull
3rd December 2009, 12:59
Thanks for the info Main! You guys need to chill a bit, if someone thinks the market is going to move a certain way, I am all for free info. Nothing (info) is guaranteed, so take it with a grain of salt.

And for those who keep telling us to stop talking about the markets, because this is a silver forum, please give me a break. If you havenít noticed the equities market has a huge effect on the price of silver. Silver is effected by the market, not effecting the market....

Main I bought svm a few days ago... I plan on holding at least a year. Bought faz again today as a bit of insurance...

Irishfan1
3rd December 2009, 13:40
The market and silver/gold may just be taking a breather, some possible sideways action for a while. I still see a bullish trend here. Nothing to worry about.

ccjoe
3rd December 2009, 14:10
I do believe Silver is going alot higher and we are going to test $21.00 very soon. Here is my concern. The dow can not break 10500 as of yet. The market seems like its distributing a bit. Low volume, stocks are not gaining much traction.

Look at financials they are extremely weak, they havent been able to trade back up towards their highs.

Gold has had an amazing run, I have no clue where this rally will end and neither does anyone else. It could pull back if this market falls hard and thats my concern. By the looks of the charts the last few days, I thought the Dow would have broken out today and in fact it had every opportunity to do that. yet still here we are unable to break 10500.00

My initial target for Silver was $19.00 from 17.50 and we are here. Silver seems to be lagging gold again here after the last couple of days. If silver does pull back it will be a great buying opportunity.

BTW, Gold and Silver usually rest in December and then have a monster run from Jan- April. So I'm bi-polar because Im' a trader and I flip flop.

I entered FAZ today at 18.86 and its up to 19.64 currently. That goes to show how weak the financial sector is, and it has me asking myself, "Can the market rally without the financials?"

We'll find out soon enough.

BOA paying back tarp billions should help the financials?
Not my area of expertise but since you mentioned it.

ccjoe
3rd December 2009, 14:16
I think that LONG-TERM PMs will go up.

The question is: will there be a SHORT-TERM collapse along the way to the highest heights?

For example, gold hit $1000 in Mar 2008, and in Nov 2009 it is at $1215.
What happened on the way up? Oh, a little crash to $700 in Dec 2008.

I am in PMs for the long-haul. I am riding out any short-term drops like in late-2008.

But we need to be prepared for a pullback. A good runningback knows how to brace himself right before he gets tackled. It makes the difference between making the down and fumbling the ball while getting your neck broken.

Short-Treasuries went NEGATIVE yield last week.
(The last time this happened was right after the Lehman Bros bankruptcy in Nov 2008, when PMs tanked).
Dubai has essentially defaulted on $80+ billion.
(Abu Dahbi has not said they would pay it.)
Bullion bank short gold/silver positions on the COMEX are at record highs, with no signs of slowing.
Record highs in gold are not confirmed by silver (high GSR) or HUI (lagging gold).
DOW at record highs and seeming to top out.
(if the DOW goes down, don't you think silver will too, at first?)

I am holding my PMs through any short-term deflationary tumbles, but some PM-investors think that PMs can only go up and will be dissapointed if they don't prepare for what can happen to pull PMs down again as in 2008.

Remember and repeat after me
2008 pullback will NEVER happen again in PM's.
IMPOSSIBLE because of all the things I've posted over and over again.
Please stop the pullback like 2008 routine.
Silver pulled back HUGE today >.50 but has bounced right back. What's that tell you?
How about the probable regulations to soon pass to stop the shorts and then STRICTLY SUPPLY AND DEMAND!

SilverLite
3rd December 2009, 14:33
Remember and repeat after me
2008 pullback will NEVER happen again in PM's.
IMPOSSIBLE because of all the things I've posted over and over again.
Please stop the pullback like 2008 routine.
Silver pulled back HUGE today >.50 but has bounced right back. What's that tell you?
How about the probable regulations to soon pass to stop the shorts and then STRICTLY SUPPLY AND DEMAND!
Agreed. I'm long term all the way...

If it dips, i'll deal with it and just buy more.

ccjoe
3rd December 2009, 14:47
Agreed. I'm long term all the way...

If it dips, i'll deal with it and just buy more.

If I had ONE dollar left I would buy 1/50 silver coin with this dip to 19:)
I'm in your school as we don't need the money.
If we do, I'll sell just what I have to and save the rest for when silver hits 300 in 2012. If I'm wrong 300 by 2015 is fine with me.

Ardent Listener
3rd December 2009, 14:55
I think that LONG-TERM PMs will go up.

The question is: will there be a SHORT-TERM collapse along the way to the highest heights?

For example, gold hit $1000 in Mar 2008, and in Nov 2009 it is at $1215.
What happened on the way up? Oh, a little crash to $700 in Dec 2008.

I am in PMs for the long-haul. I am riding out any short-term drops like in late-2008.

But we need to be prepared for a pullback. A good runningback knows how to brace himself right before he gets tackled. It makes the difference between making the down and fumbling the ball while getting your neck broken.

Short-Treasuries went NEGATIVE yield last week.
(The last time this happened was right after the Lehman Bros bankruptcy in Nov 2008, when PMs tanked).

Dubai has essentially defaulted on $80+ billion.
(Abu Dahbi has not said they would pay it.)

Bullion bank short gold/silver positions on the COMEX are at record highs, with no signs of slowing.

Record highs in gold are not confirmed by silver (high GSR) or HUI (lagging gold).

DOW at record highs and seeming to top out.
(if the DOW goes down, don't you think silver will too, at first?)

I am holding my PMs through any short-term deflationary tumbles, but some PM-investors think that PMs can only go up and will be dissapointed if they don't prepare for what can happen to pull PMs down again as in 2008.

Fair warning IMO. Being prepaired doesn't cause a pull back. As I recall there were a lot of tears around here back then. That's to be expected after a big pull back. But not the panic that sets in for physical silver holders who should have been into silver for the long term, but put money into silver that they need over the short term.

main1event
3rd December 2009, 16:14
As I feared the market sold off pretty hard at the end of the day. The financial stocks were the indication. The charts really look bearish. 10500 may be the ultimate top for this rally in the stock market. I'll have no way of knowing unless we break down below 9800 on the Dow.

There are some disturbing rumors out there, and some news stories that are popping up. I have to do some investigating but I read something last night about the Fed making banks pay back the tarp money the first of the year. Theres also some new legislation coming through for banks that could hurt their profitability.

Today may have just been a simple pullback and we go higher tomorrow but by the look of the financials its going to be tough going for a while.

I'm just concerned that a sinking market may put pressure on Silver and Gold like it did today. I made 10% today in FAZ alone, which goes to show the serious of todays selloff. If we continue lower tomorrow without rallying back this could be the start of at least a 10 % correction in the Dow.

valerb
3rd December 2009, 17:36
As I feared the market sold off pretty hard at the end of the day. The financial stocks were the indication. The charts really look bearish. 10500 may be the ultimate top for this rally in the stock market. I'll have no way of knowing unless we break down below 9800 on the Dow.

There are some disturbing rumors out there, and some news stories that are popping up. I have to do some investigating but I read something last night about the Fed making banks pay back the tarp money the first of the year. Theres also some new legislation coming through for banks that could hurt their profitability.

Today may have just been a simple pullback and we go higher tomorrow but by the look of the financials its going to be tough going for a while.

I'm just concerned that a sinking market may put pressure on Silver and Gold like it did today. I made 10% today in FAZ alone, which goes to show the serious of todays selloff. If we continue lower tomorrow without rallying back this could be the start of at least a 10 % correction in the Dow.

The DOW is only down -86. Did you happen to see the dollar take another dip up to 76.81, while gold was down $7.30 and Silver down 40 cents. Gold has regained $3.30 tonight. The dollar is right back were it ended the day on Monday, only Gold and Silver are much higher than Mondays close and the DOW is also still above Monday's close. Remember the talk about the dollar crashing earlier this week, well it seems to have been fixed again and all the markets are in better shape as a result of that down and up movement.

main1event
3rd December 2009, 19:11
I saw that, and to be honest, I have no idea what to think anymore. I just react with the markets. Sometimes when you are absolutely sure something is going to happen, the opposite kicks in. You just have to shrug it off and move with the market. Its like floating with the tide.


I'm not liking this action in the market. The volume picked up considerably near the close on the selloff. I'm going to check overall volume and some charts here shortly but the 50dma on all the financials is rolling over. It doesnt look good so 10500 may prove the absolute top of this rally.

Some mutual funds are up 50% this year, they may want to lock in a profit going into the end of the year.

What is Truth?
3rd December 2009, 19:28
I saw that, and to be honest, I have no idea what to think anymore. I just react with the markets. Sometimes when you are absolutely sure something is going to happen, the opposite kicks in. You just have to shrug it off and move with the market. Its like floating with the tide.


I'm not liking this action in the market. The volume picked up considerably near the close on the selloff. I'm going to check overall volume and some charts here shortly but the 50dma on all the financials is rolling over. It doesnt look good so 10500 may prove the absolute top of this rally.

Some mutual funds are up 50% this year, they may want to lock in a profit going into the end of the year.

50%! That sure beats this lousy 20% rally. :lol:

main1event
3rd December 2009, 20:27
When everyone expects, then everyone is on the wrong side of the ship.

What is Truth?
3rd December 2009, 20:35
When everyone expects, then everyone is on the wrong side of the ship.

Better yet, at dinner the other night my brother-in-law told me silver was going to $100.00. :lol:

main1event
3rd December 2009, 20:46
Better yet, at dinner the other night my brother-in-law told me silver was going to $100.00. :lol:

Yep, when everyone gets too bullish, bamm. I've learned the hard way several times. Neither gold or silver are in a bubble but its probably time for a pullback. When everyone gets bearish we'll see some big gains in both.

Remember Jan - April are usually the big months for PMs.

chroNick
4th December 2009, 07:33
Main1 - What's your definition of a pullback/collapse? Nothing goes up forever. Everything goes in waves. When you title the thread "market collapse" you make it sound like PM's/stocks will go down 10-15%++. Even that isn't a "market collapse" as you titled this thread. I highly highly doubt gold will ever dip below 1000, and although I can't be Sure of anything in trading, I just can't see gold going to 1100 before going to 1300. In fact I see near 1400 coming in the Spring.

main1event
4th December 2009, 08:04
When a stock market reaches a top, you will often see a 10% correction at least. While that might not seem like much if you own individual stocks you can see a 20% to 30% pullback. When you lose that kind of money it really sux and to me thats a collapse.

The Jobs number today has essentially completely reversed yesterdays selloff in bank stocks. It looks as though the market may get through 10500. I sold my FAZ at 19.85 after the report. I still did remarkably well but now I'll wait until next week until things settle down and I can clear my head.

This market is the most whip saw market I've traded in a while. I've been fortunate to be making money in this environment.