Best Thread Silver!

dmt257 said:
Thanks dash. I actually went long at 43.52, £1 per pip:whistling Its just what I felt comfortable with. Total gamble really, but fun.

Im thinking all kinds, like gapping, slippage etc, I just don't know what is what. But I will watch closely and take into account your advice.

Cheers
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well if your long I'd call up dante and cross trade with him when it gets to his level :)
 
Actually, I said it all didn't I, a 'gamble'. Not here to gamble, just trade. Im slipping. No more of that:innocent:

Stopped out for +28 quid.
 
DashRiprock said:
put buy limits in at just below 42 in the smallest size you can. Disaster stops I suppose around 39.50 ish but plan to be out well before that.

whats happened here is that the CME/Comex have increased the margin requirement on the silver futures contract (at least I guess, there was talk on friday/thursday). So nothing fundamentally has changed to Silver, nor the dollar, nor the overall demand for silver for industrial purposes.

The only thing that has changed here is structural, and a bunch of contracts are having to be sold by people whether they like it or not. If you think that nothing has changed, then you can fade these moves as a volume/liquidity imbalance albeit on a larger scale.

As for why buying below the lows, well the world and his dog will be looking to fade this move. After the consolidation, you can take a reasonable stab that there will be stop sell orders below the lows from those who are slightly too quick to jump on the bandwagon. Let the market take these guys out, move back into balance and return to the " fair" price of around $48. Take some off at $47 and see how the rest feels.


follow my advice at your peril :) but thats the way Id trade it in a geberal sense anyway.

all imho.
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Just closed a trade on EUR/USD, with the same thought in mind, closed out before the high before the sell off due to down trend before the sell off, looks like I got the high (of this t/f). Silver will take a lot longer, but will be looking at it.
 
if ur really brave you could put some small longs on now, im sure some people will have buy stops above that 30m pin - its the level traderdante was talking about and a 38 retracement from the beginning of the move. sometimes it can be a good idea to get some on earlier incase it goes off without you.

follow my advice at your peril :)
 
Could be tempted by a lower risk tight stop 3bar break out on the 5min. I just don’t like the time of night.
 
looks like some of those stops got taken out

this is when it can help to read the tape and look across other instrumets in your asset class to check for divergence or weakness on the tape like i was sayin in my schlong thread.

i dont have comex and anyway im going to bed.
 
I think the major move is over. It would surprise me to see a move above 48.500, but weirder stuff has happened. If you made money on this move tonight, I wouldn't touch it...and even if you didn't make money, wait for things to settle. Just my opinion :) At $5,000 USD a contract per $1 move, it is not something to be risky in.

I personally think we can still see $30 in silver before we see $50 again...but I have been known to be wrong a couple times haha
 
I see a push down testing 42 again. There is still 1/2 a world of people either asleep or ignorant of the situation. They'll get a margin call in the morning from their broker if they haven't already been taken out automatically.

If that happens then I would buy in the 40-42 zone, small size. Otherwise, as LiveTradingZone said, probably best not to touch it for a while.

Peter
 
I called the top of silver one week ago and said it should go to the $14 area...............I still stick to the $14 dollar area.................
 
counter_violent said:
hmm, i don't think so :LOL:
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Silver is going down thats for sure , but i agree we could see new highs 60s maybe 70s wouldnt be so surprised to see even higher than that some could suggest 125 $ , but i am bearish on Silver and i would love to see new highs to position myself better , looking at some ETFs puts ...
 
Fascinating thread, very lite on fundamentalist reasoning, all died with OBL in Pakistan obviously..
 
Black Swan said:
Fascinating thread, very lite on fundamentalist reasoning, all died with OBL in Pakistan obviously..
Click to expand...

Thats probably why silver tanked, someone told him marine call and he misheard thinking they said margin call :)
The poor taste jokes are always the best... :whistling
 
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