Silver...just put in the highs for many years to come

L

LiveTradingZone

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OK, little prediction here...see how wrong I can be:cheesy:

Silver has just reverse capitulated and this should be the all time highs. If I am wrong it's ok. Got 49.030 short on May Silver, but now stop is break even.

Talk about a risky market....the range on 1 contract today is $20k. Incredible to watch.

If anyone trades silver I would be interested in hearing some stories :)

Oh I know some of you will say too late to tell us you shorted silver, but that wasn't my point. It was to see who else trades silver and if they think it has capitulated. I can include a chart if anyone is so eager to see lol(y)
 
I don't use leverage to trade it. I trade it on Bullionvault aswell as holding a large core position.

I got out of everything at low 49 and high 48.

Imo it is going above $300 by the end of the decade.
 
I just want to see the shorts get squeezed and covering as fast as possible! (that is me hoping again)

Syria will bring a lot more tension in the middle east.. The dollar still ****ed up and getting even more ****ed up! China willing a reduction of their large forex reserves to around $1 Trillion!!

What else could be bullish for the PM`s??
 
vinicius said:
I just want to see the shorts get squeezed and covering as fast as possible! (that is me hoping again)

Syria will bring a lot more tension in the middle east.. The dollar still ****ed up and getting even more ****ed up! China willing a reduction of their large forex reserves to around $1 Trillion!!

What else could be bullish for the PM`s??
Click to expand...

You are probably right. The shorts got killed today, I mean massively killed. I wouldn't be surprised to see some hedge funds that went out of business on today's pop.
 
Been watching this today and it bouncing up and down like crazy, a wee bit too volatile for me, I'm taking my profits for now.
 
Is that you who is taking lessons with trader_dante?

oh yeah! I am long baby...
 
Why fight the trend?
We could easily break 50 and make a huge move up this week.
I have almost 100% probability that we end up for this week.
:)
If you are going to play the silver high, your play should be once it breaks 50, there is zero resistance.
Shorting an all-time high is a horrible idea.
 
Depth Trade said:
Why fight the trend?
We could easily break 50 and make a huge move up this week.
I have almost 100% probability that we end up for this week.
:)
If you are going to play the silver high, your play should be once it breaks 50, there is zero resistance.
Shorting an all-time high is a horrible idea.
Click to expand...

Agreed, quite likely USD as reserve currency will be replaced by gold standard and silver will be dragged along for the ride.
 
Depth Trade said:
Why fight the trend?
We could easily break 50 and make a huge move up this week.
I have almost 100% probability that we end up for this week.
:)
If you are going to play the silver high, your play should be once it breaks 50, there is zero resistance.
Shorting an all-time high is a horrible idea.
Click to expand...

No need to fight the trend really, but been long since the $18.50 area and today would be a perfect exit point from that run. Really we shouldn't be in a downtrend until we break the $35.00 area at least.

Short was not based on that mentality though of all time high. Short was based on capitulation and a short squeeze with a shooting star daily bar (if it closes down), also with a gap fill. $33k profit in a few hours vanished to $15,200 profit on 2 contracts. Still a stop at break even isn't a bad deal....

Risk is $10k, reward, could be $100k or more depending on where it falls to. However, if I am wrong I will be the first to admit it :)
 
LiveTradingZone said:
I highly doubt the USD would be put back on the gold standard...but weirder things have happened!

.
Click to expand...

:eek: I'd be surprised if USD DOES remain global reserve.
Even if it does, no harm being prepared.

USD is hardly in a strong position right now, I'd say the time is ripe for gold standard TBH.
Quite a lot will hinge on the chinese, as America is a primary export market, so catch 22.
Ultimately the chinese will look after China first and foremost.
 
vinicius said:
that is not too far away..

http://www.marketwatch.com/story/imf-bombshell-age-of-america-about-to-end-2011-04-25?pagenumber=1

All emerging countries will support a new "global currency"... The BRICS itself represents 25% of worlds economy.... It is time for a change I would say
Click to expand...

Agreed, its not logic that prevents people from accepting that is a realistic possibility, rather:
http://en.wikipedia.org/wiki/Normalcy_bias

For me the foundations have already been laid:
http://www.cityam.com/news-and-analysis/sec-plans-end-price-swings
Pre emptive move based on the FED's & U.S. govt. expected outcome to QE ending...
Flash crash prevention my ar5e :)
 
The USA is throwing away the greatest economic advantage the world has ever seen. Future generations of Americans will look back with anger at those who destroyed the reserve currency status.
 
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