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Post by Clinton SPX on Jun 14, 2011 14:01:26 GMT -5
Silver really likes the bernanks speech
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Post by novice08 on Jun 14, 2011 14:03:50 GMT -5
The question is, have we hit a s-t bottom? It usually comes a little later in the summer.
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Post by timber on Jun 14, 2011 14:05:08 GMT -5
trading silver and oil really got me stressed out.....ill do it later after i recover
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Post by novice08 on Jun 14, 2011 14:07:27 GMT -5
Absolutely nothing's easy in this market timber...lots of volatility if you're good enough, the problem is, I ain't.
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Post by brosin on Jun 26, 2011 16:21:19 GMT -5
next stop would be $24-25/oz
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Post by ask2lern on Jun 27, 2011 5:42:59 GMT -5
I would start to be a buyer around 22.50 and I think it will get there FWIW....................GLTA
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Post by davetherave on Jun 27, 2011 6:59:14 GMT -5
Summer time brosin....gonna get hotter....people can't resist the Silver Bullet! SLV has some support down around 32. Uploaded with ImageShack.us
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Post by ask2lern on Jun 27, 2011 8:27:53 GMT -5
There are some changes coming that may cause some volatility in the PM's markets as we approach some new regulations as a result of the Dodd-Frank Law. These new regs will not effect my business as I only deal in physical delivery and no leverage. ...................
This is not to be considered legal advice and is only a brief overview......................GLTA
Dodd-Frank Law Implementation Causes Unforeseen Precious Metal Blip By DAVID L GANZ Special correspondent to Numismatic News Implementation of the rules written under the ‘‘Dodd-Frank Wall Street Reform and Consumer Protection Act” of 2010 is causing some concern and market nervousness for sellers of gold, silver, platinum, palladium and other precious metals that are regulated by the Commodity Futures Trading Commission (CFTC) and who offer deferred delivery to purchasers.
Forex.com reports online that, “As a result of the Dodd-Frank Act enacted by the US Congress, a new regulation prohibiting US residents from trading over-the-counter precious metals, including gold and silver, will go into effect on Friday, July 15, 2011.”
The report is not exactly accurate when it comes to gold, silver or platinum purchases in small or non-regulated sizes (such as one-ounce bars, US Mint bullion coins in any quantity, or any contract that is not approved by the CFTC), and just plain wrong if the metal (or coins containing them) do not have their delivery deferred. Deferred delivery generally means that the coins (or metal) is not delivered within 28 days; or as Section 742 of the Dodd-Frank law provides, exempted is any “contract of sale that— (aa) results in actual delivery within 28 days or such other longer period as the Commission may determine by rule or regulation based upon the typical commercial practice in cash or spot markets.”
As to the amount of precious metal that can be regulated by the CFTC, the general rule is that only bulk silver and gold coins under a standard contract are covered. In title 7 of the U.S. Code, section 23(b), it appears that this includes neither higher nor lower quantities. This is further ratified in, for example, the Chicago Board of Trade Rules, ¶1404.01 (indicating minimum units of multiples thereof).
So mom and pop coin shops, most dealers, and nearly all collectors simply are NOT affected – nor were they intended to be. The CFTC, after all, regulates “Futures Trading”, and so long as there is reasonably prompt delivery, consumers appear to be protected. There may be regulation if delivery is deferred.
The Industry Council for Tangible Assets (ICTA) was on this over a year ago when the Dodd-Frank law was being discussed by Congress. Originally, the CFTC was lobbying for more power and arguing that if delivery took place later than “2 days” after a sale, the transaction could be regulated. Even Forex.com gives ICTA credit, along with other coin collecting groups.
©2011 Krause Publications. Used by permission of the author.
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Post by brosin on Jun 27, 2011 18:23:02 GMT -5
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Post by brosin on Jul 5, 2011 20:26:53 GMT -5
i'd be pounding the table short here (shocking i know) but it looks ready to break large one way or another time to pound the table short again IMO
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Post by jack on Jul 5, 2011 20:30:28 GMT -5
On the contrary...I think its time to BUY it w/ both fists.
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Post by brosin on Jul 5, 2011 20:56:51 GMT -5
Intriguing post here - it could support the bullish argument peterlbrandt.com/a-potentially-bullish-development-in-silver/A potentially bullish development in Silver * Posted by PeterLBrandt * on July 4th, 2011 Committment of Traders (COT) data are in the most constructive profile since April 2008 The Committment of Traders (COT) data collected and released by the Commodity Futures Trading Commission (CFTC) report on the composition of ownership of Comex Silver contracts. This data should never be viewed for the purpose of timing, but can be very useful in spotting potential turning behavior. The Commerical traders presently hold the smallest short position (at 29,166 contracts) and the Large Spec holds the smallest long position (at 15,998 contracts) than at any time since April 2009. In April 2009 Silver was trading under $13. See chart below. Is this a reason to be long $SI_F or $SLV? No! Is it a reason to cover profitable short positons? No! But it does show that the commercials have done alot of buying and the large spec has done alot of selling. And this fact puts the Silver market in a much healthier position than it has been in for quite some time. As a result, chart and technical traders should give extra credibility to buy signals they get from their systems.
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