Silver’s Turn?

Submitted by Bill Holter:

It looks like Gold has “passed the test” and made a bottom, now it’s Silver’s turn.
Silver has acted quite poorly over the last 10 days while Gold put in a base
.
“Outside reversal” days are rarely allowed in either Silver or GoldSilver has the chance of placing one today with a strong close.

silver
It looks like Gold has “passed the test” and made a bottom, now it’s Silver’s turn. Silver has acted quite poorly over the last 10 days while Gold put in a base.
The interesting thing is that Silver’s open interest on the COMEX has risen during this time which means the poor action should be attributed to fresh shorts as opposed to long liquidation. The Bollinger bands are as tight as they’ve been for 5 years and hedge funds appear to all be on one side of the boat…under-invested and even short.
As I wrote 2 to 3 weeks back about Gold having an “important day”, I believe that today is the same for Silver.
After being down roughly .50 cents, it is beginning to turn. Should Silver close unchanged or even positive today, the shorts will truly have something to worry about. “Outside reversal” days are rarely allowed in either Silver or Gold. Gold had its turn a couple of weeks back, let’s see if Silver can perform a repeat and turn in its own “outside reversal day”. Should this occur and Silver begin to act better I think that short covering will begin (and be forced) in earnest and physical buyers will step up purchases in fear of missing the boat.

When (if) the Cypriot banks open tomorrow, we will probably see long bank lines and possibly violence in living rooms across the globe. This can only add to the current “uneasiness” and bleed more fiat into physical metals.

We watch and wait.

Regards, Bill H.

2013 Silver Maples As Low As $2.29 Over Spot at SDBullion.com!

Silver Maple

Comments

  1. My savvy posting stackers probably have already seen this, but some may have not.  For me, this paints a clear picture of the vast amount one TRILLION really is and how it is tossed around by the MSM as merely a number:
    One MILLION seconds equals 12 days.
    One TRILLION seconds equals 32,000 years!!!!
    It just takes my breath away….

  2. Silver has completely erased today’s losses.  I am completely stoked and happy.  Go Silver!  Now lets hang on to this and move a little higher.

    • after the ammo they expended on it this morning I am pleased to see it holding. More and more guys seem to say that recent action by the ass klowns in the “cartel” seem to show more of a desperation, than their normal management. We see them blowing more and more of a load to get less and less of an effect. They’ve had us rangebound fro a month, but I think it’s fair to say in years past we’d have seen a breakdown by now. Which I pray won’t happen.

    • The banking issues are pushing more and more into safer savings, silver and gold. That is why the cartel is going to eventually lose control.

  3. I called up the mint that had two open orders of 1 oz silver coins that I had placed a few weeks back. I asked about the delay.  The kind lady informed me that there were 600 orders ahead of me.  She made it clear that it was 600 orders for the specific coin that I had purchased.  She also informed me that the amount of sales volume has been consistently been 4x normal volume since the drop in silver price. This correlates to the heavy sales volume that SD bullion experiences.

    • NWTM told me the same thing last year when it took them 14 WEEKS to deliver $100 face bag o dimes and 100to of generic rounds. IMO pretty scam tastic

    • @sirstacksakot: Thats even longer than an SBSS order. I start to worry when to much time goes by!

    • “NWTM told me the same thing last year when it took them 14 WEEKS to deliver $100 face bag o dimes and 100to of generic rounds. IMO pretty scam tastic”
       
      In the banking world, they call that check kiting.  If they can do enough of it, they can make a fortune off the interest.  Well, they USED to be able to.  Can’t say that they do these days.

  4. Bruin  funny you should mention this. I called Sportsmansguide yesterday. I had an order for 4 ammo cans of 600 rounds each of 7.62X39  This has been on order since  December 21, 2012.  After 3 calls in the last 3 months, being given BS excuses that the shipment wold arrive next week, they told me June delivery. I’m 320 in the queue of 800.
    The check is in the mail, I’ll respect you in the morning, your ammo/silver is on its way.  Jeez,  a really hate this stuff.
    I’m getting PTBS  Post Traumatic Blog Syndrome, or  maybe giving it, with all the stuff going on today. Whew!

    • I am calling for ammo manufacturers to follow the gun manufacturers and ban sales to government entities involved in bans including the US gov. Support the military only tell the DHS to get in line behind the civilians who are the real defenders of this country.

  5. The luciferians have created SO much Chit,that their bowels are overly ‘ bloated ‘ they are  hated by almost everyone universal ,motivated by their losses , people are watching  their every move ,the Luciferians are  playing a game of high stakes Poker with nothing to back it up! playing off their azzs .if they  contiune to Win, so be it,but just one  ’prick’ and their chit will hit the FAN..imo

  6. To me it’s just another day and I try not to watch the spot price and I’ll only get excited when it climbs over $35.50 right Brother Jake?

  7. Headlines:
    “JPMorgan Chase Faces Full-Court Press of Federal Investigations”
    –By JESSICA SILVER-GREENBERG and BEN PROTESS, March 26, 2013
     
    When JPM falls, and they are in fact the biggest Silver shorts, something is bound to happen to the spot price of Silver.

  8. This is just like waiting for a pinata to bust open.  The fact of the matter is I’m looking for another safe.  I’ll find somewhere to put it.  It ain’t heavy.  It’s my money.  

  9. Speaking of March 27th… where is Jim Sinclair’s BIG THING?  Wasn’t something REALLY BIG supposed to happen to gold by today?  Did I miss it???
     

  10. It doesn’t matter if gold and silver’s prices go down because it will go up soon on the long term with hyperinflation and with the supply and demand that will take over the markets.

  11. Also, the cartel is giving free opportunities by keeping the prices of precious metals low so that we could buy them cheaply, faster and easily!

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