What Is a Commercial Signal Failure?
February 21st, 2011Warning: This is not a recommendation to buy, sell or hold any financial instrument.
Wow, that silver chart is one of the nuttiest things I’ve ever seen. Congratulations silver longs.
Personally, I’m only holding a few pounds of pre-1964 quarters that I thought might be useful as post collapse money someday…
I have to say, if you think gold bugs are nuts, they can’t hold a candle to the silver bugs, which I have heard talking about this for at least fifteen years. Frightening, white-haired old dudes with silver and turquoise belt buckles, white leather boots and big cowboy hats; fingers stained orange from a half century of smoking cigarettes they roll themselves.
Shine on you wild diamonds.
Via: Trader Dan’s Market Views:
As with any market, the potential always exists for such a development especially when there exists a very large short contingent in a market that has already seen a decent price rise. Any further exacerbations of the supply/demand balance can trigger one of these events. If one does happen in silver, trust me on this one, you will not have to ask the question: “Gee I wonder if we are seeing a Commercial Signal Failure in Silver”. You will know it.
Research Credit: Pookie
Call me nuts, but I’ve got about 45 ounces of silver. Bought ’em back when they were $25.
I’m looking to preserve my purchasing power, so, it seemed common sense. Also got an ounce of gold, just in case.
I’m still on the fence though, what the gold/silver bugs say makes sense. Then there is always the chance metals might pop. However, what always gets me is the historical record of how metals have always held value. If they do crash, I’m pretty sure I’ll live to see them go up again. Or exchange them somewhere near what I think is a top and put it in something else.
Great work, I admire how you’ve managed to do so well with your site.
I worked for a firm which got caught in one of those failures, once, when Clinton was in office … the result was such that our firm, a fairly well-known hedger for commercial interests, went from about $50 million in market cap to subzero, and I became a daytrader for my own account.
as for my own analysis:
Ag
t1 is 37.50, with minor resistance at 34.38 and 35.94, once there, it will retrace, those levels become support. breakout to 43.75 next major target.
Au
t1 is 1437.50, with resistance at 1421.80, breakout tgt there is major psych resistance level of 1500.00.
I still hold physical silver
interesting times, indeed.
– cybele
Silverbug here. Thanks to you Kevin I started studying monetary theory a bit ago and traded my clown ticket savings into the finite, cheap as hell (@18) unprintable element.
Some resources for your silver inventory/Comex levels and that ongoing saga…
http://jessescrossroadscafe.blogspot.com/
http://harveyorgan.blogspot.com/
http://www.tfmetalsreport.blogspot.com/
This metal is pretty much checkmated into a moon trip, i think.
C,
Are you getting ready to sell any silver up here?
@ENERGYMAN
“unprintable element”
I love it.
Congrats on your near doubler.