Silver Update: Silver Squeeze

silver updateBrotherJohnF discusses silver’s latest crash that has now seen the metal retrace the entire 2010-2011 bull move and his outlook from here.
Is $12 or $15 in play or is the metal nearing a strong rebound rally? 
Silver Update: Silver Squeeze is below:

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Gold Maples As Low As $39.99 Over Spot!

Comments

  1. So, I’m rarely right on these kinda things but—- with 1st Day Notice, the end of Q2, the stuff we keep hearing about empty vaults, not to mention the possibility that commercials really are going long, the unreal negative sentiment/& MSM piling on even more press–lots of people are thinking along the lines of throwing in the towel and cutting their loses.
    NOT ME! 
    Because I REALLY AM EXCITED— that for the last couple years or so I have shook my head  -wishing  I could Time Travel- buy Silver at 2010 & 2009 prices AND NOW I GET TO!
    Am very confident I won’t get to accumulate at this level for very long.
    How it seems to always go for me.
    So like I was saying, rarely do I seem to be able to market time–overall sounds like people are buying but no supply problems.
    I truly hope this price weakness continues….But I don’t think it will.
    If you flip the Silver chart upside down….you’d have to call what you were looking at a parabolic spike move up, time to sell the TA traders would say. Even some of our guru peeps would be saying…’It’s a bubble’ and to short it….right?
    If Kennecot hadn’t caved in and 16% of production taken off the table with it and instead they had announced a startling production increase that would lift them 16% annually….
    There’s just too many good reasons not to be sitting on my hands right now…the old proverb reads, ‘If you won’t plow in the cold, ya won’t eat at the harvest.’ 
    I liked Silver and paid $50 per unit for it—-I like Silver and just got it for $22!
    I’m a buyer with both hands right now!
     
     
    My experience yesterday.
     
     
    Doing my weekly  visit to my LCS and was more than a little curious as to what I’d see/find.
    Owner is someone I’ve built a rapport with over the last little while and was told last week that Silver was coming in Monday afternoon.

    So there I was yesterday at 0900  when the doors opened and ask, “How’s biz?”
    Was told, ‘Couldn’t get off the phone all day yesterday. Already set the thing to go to straight to voice mail this morning. It’s unreal. Got 10 monster boxes of Silver Eagles Monday. Gone. Moved all 5000 ounces yesterday.’
    “So… you don’t have any, at all?” I ask.
    ‘Guy came in right at close last night and sold me ten 1987 Eagles that he said he hated to part with. You can have ‘em for $220. Sheesh, can’t remember the last time I let Eagles go this low.”
    “I’ll take ‘em!”

  2. I am terrified about which direction we’re going in!!!
    So much so that I just bought 2000 Austrian Philharmonics this morning.
    ROCK AND FUCKING ROLL!!!

  3. “The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance of foreign lands should be curtailed lest the Republic become bankrupt. People must again learn to work, instead of living on public assistance.”
    Marcus Tillius Cicero, 55 BC

    • Indeed.  History shows that Cicero was correct.  We can safely assume that any nation that continues to follow the failed Roman policies that he noted will also fail.

  4. you might want to publish this article doc.. maybe for the sake of having some alternative view points.
     
    seems the bull might be dead… and it fits well with the 4 stage theory.
    http://www.gold-eagle.com/editorials_12/vermeulen062613.html
     

  5. The bull is dead.  Bear Stearns was the investor that did exactly what BroJ is talking about at the end of the video.  JPM has just been taking advantage of the drop back down.  Who would buy 5 years worth of supply?  what would be the point in that, it has already been attempted which is why we saw the ramp and spike in price years ago.  You see how well it worked out for BS.  Save some silver, but invest in new technology.

  6. I’m buying more Silver tomorrow, I just can’t help myself.

  7. ILUVPMS  I read the article and concur that if the equity markets suffer major declines, precious metals will drop as well.  My phrase is ‘fear factor liquidation event’  We may have seen much of it thus far and this in spite of the equity markets inflating well above norms for economic and earnings reasons. My concern is that we could see a blitz on prices if the markets drop, the Chinese banks lock up worse, we have more Cypruses or even a devaluation in the USD.
    I also think that there is a good chance of seeing increases in the metals prices due to the extraction price vs market price proving to be a difficulty that can’t be ignored. Coupled with that would be the public’s rush to buy precious metals. That price increase could be short lived and frantic.  Price predictions in charts of the sort here are still subject to influences that confound the experts and legends.   We will see how things shake out in the next 6 months and no matter what happens, it will be interesting. 

  8. HE WONDERS WHY SOME BILLIONAIRE HAS NOT CORNERED THE MARKET AND TAKEN DOWN GOVERNMENTS? WOULD YOU WANT TO BE THE GUY THAT WAS RESPONSIBLE FOR THAT. THEY HAVE NO INTEREST IN TAKING DOWN GOVERNMENTS BECAUSE THEY KNOW THAT GOVERNMENTS CAN ACCOMPLISH THAT ON THEIR OWN. THE BILLIONAIRE IS INTERESTED IN PROTECTING THEIR CAPITAL AND MAKING MORE OF IT.

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