August 30/31, 2010

The silver technical analysis is giving us a nice time correction on the shorter term time frame. The VWAP from the most recent highs last Friday was resistance that day and yesterday. Today it has gotten above this level, which has made this average start to rise. This is an area to check and see if it can maintain a level of support. The One day moving average flattened out and is now rising again. Because of this time correction, the charts could very easily have a nice gain to be able to extend its rally. The volume has diminished, which is not a surprise is the final week before Labor day. What also will not be a surprise is a lot more volume to enter into this market as we head into September and the vacation times will start to diminish.


On my market sentiment I have $19.50 on the Silver futures contracts to be the top of the range. Although it is not the high of silver, it is being used as the resistance. The reason for this is because it has been a major resistance level here in the year 2010. Therefore it is an area that may encounter a level of resistance. What kind of level maybe very small. The more often that resistance is tested, then the more likely it is that it will take it out.








ARTICLES


Silver to shine on emerging industrial demand
The now ten-year old bull market in precious metals has seen the price of gold move up well beyond it previous historical peak near US$875 reached briefly in January 1980. But silver has still not surpassed its all-time high of $50 an ounce -- and even remains well below its current cyclical high of $21 an ounce reached in 2008...(Commodityonline)

Gold Rallying to $1,500 as Soros's Bubble InflatesInvestors are accumulating enough bullion to fill Switzerland’s vaults twice over as gold’s most- accurate forecasters say the longest rally in at least nine decades has further to go no matter what the economy holds...(Bloomberg)

Silver is set to Shine
The now 10-year old bull market in precious metals has seen the price of gold move up well beyond it previous historical peak near US$875 reached briefly in January 1980. But silver has still not surpassed its all-time high of $50 an ounce – and even remains well below its current cyclical high of $21 an ounce reached in 2008 – leaving silver bulls disappointed but optimistic that huge gains are still ahead with the white metal ultimately reaching and surpassing its 1980 peak price in the years ahead...(Resource Investor)

Silver's Bullish Rise to Continue
Silver could rally further this week on bullish technical indicators, a weaker dollar and investment demand. Last week, silver breached the resistance level of $18.80. This week, the white metal may test the next resistance level of $19.92, which signals the breakout to record highs. The momentum indicator RSI (14) is treading at 0.517, indicating further bullishness. Silver is currently trading above short-term and medium-term EMAs, implying a bullish trend.... (The Street)

Tips for Buying Silver as an Investment
Here are some tips for buying silver as an investment that a buyer can use to help reduce the risk of getting scammed. While the value of silver is not so high that many people try to make counterfeit bars and coins, the possibility certainly exists. More likely, unscrupulous sellers will use vague and confusing language and some sellers will simply make mistakes as to the item's description. The following tips are designed to help buyers avoid these problems....(Associated Content)

Gold and Silver Market Suppression Failures Flash Buy Signal
I am writing this in a 5-part series. The first three parts will document in as much detail as space allows the methods and actors involved in the historic and current price suppression of the gold market. The fourth piece will tell you how to profit from gold, and the fifth from silver. These last two parts are really how to survive it first, and then profit from it. I say this because the gold market is an economic...(Seeking Alpha)

Weekend - August 28&29

This Sunday on Paltak I will be in the AU & AG chat room. To join me make sure you have the Paltalk Program downloaded to your computer. Create a user account and in the program you will find a search box like you see down below to find the chat room



I will be in there from 8PM EST to around 10pm EST. That is from 5pm to 7pm Pacific time.






















Facts about Silver, Gold, and the Dollar

-The Coinage Act of 1792 defines a dollar as 371.25 grains of fine silver.

-In the Constitution, Article I, Section 10, Clause 1 states No State shall...coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debt...(Hubpages.com)

Gold price spiral to continue
Gold prices may make a run toward $1,260 per ounce this week, nearing or even breaching the record high of $1,266.5 scaled on June 21, according the Dubai Gold and Commodities Exchange.

Investor demand for gold in the face of weaker and worrisome U.S. economic data is likely to keep investors focused on gold this week, along with the roll in New York market silver positions, the exchange said in its weekly commodities review...(Emirates 24/7)

Silver Weekly Technical Outlook
Silver jumped to as high as 19.34 last week and the break of the upper rising trend line resistance argues that recent consolidation from 19.845 is finished already. Though, some resistance was seen ahead of 19.48 and with 4 hours MACD crossed below signal line...(Oil 'N Gold)

08/27/2010

The Fifty day moving average on the silver chart priced in Euro currency was taken out with this current rally. On its first test as resistance on this moving average it was resistance for a short period of time without much price correction. Since that point it has gotten above this level and it's an area to look for within' support


Where will Support be Found?

Some areas to look for to have support into the next week are the following spots:
a) Five & Fifty day Moving averages
b) 38.2% and 61.8% levels from the breakout and the high. On USD Silver Spot this would be $18.36 and $18.74. If we make new highs, then these numbers would have to be adjusted accordingly.
c) Previous resistance. One number works huge here and this is $18.60
d) VWAP from the breakout on Tuesday.


This weekend i'll go over more charts and the levels for the VWAP and moving averages which are constantly moving.





ARTICLES

Gold Stocks and Silver Nearing Huge Breakout
Both gold stocks and silver had big 3% gains yesterday. As you can see from the chart below, both markets are nearing a test of 2008 resistance...(SeekingAlpha)

Silver Price Manipulation
This week I must address the latest Commodity and Futures Trading Commission (CTFC) findings that, “The U.S. commodities regulatory body found no evidence that silver prices had been manipulated downward by short sellers after re-examining long-term and recent allegations of misconduct.”...(SilverInvestingAdvice.Org)

August 26, 2010

Silver is over $20 Canadian battling Huge Resistance


In Canadian Dollars silver is a hair above $20 again. This is the third time recently it has been in this area. The previous tops on this chart come from the following dates

-May 2010 Silver high was over $20
-December 2009 once again over $20
-March 2008 was over $20

In March 2008 the Canadian Dollar was stronger than the USD. Silver in USA got up to $21.35 where in Canada it was not able to get above it at that point with their dollar currency being more strong. As far as today is concerned, we are having another test of this level which has had two recent tests. The recent bottom on this chart was able to hold the uptrend line and because of this the odds favour a bigger breakout to happen soon. The 200 day moving average has also been support. The pattern also can give us the "Cup and handle formation" which has the February lows forming the cup and the previous low we had made the handle. This is a very bullish formation and its expected breakout seems to be very soon. These are fancy or unfancy names they give to technical analysis. This doesn't mean it will break out to the upside, rather it has a good track record of having historic success.












ARTICLES


Silver `Looking Cheap' Lures Investors, Prompting Decline in Ratio to Gold

The ratio of gold to silver dropped to a three-week low after gold’s rally to the highest level in eight weeks prompted some investors to buy the white metal. An ounce of gold bought as little as 64.96 ounces of silver today, the lowest amount since Aug. 5, according to Bloomberg calculations. Silver has outperformed the yellow metal since Aug. 23, gaining 6 percent compared with gold’s 1.4 percent gain, as investors bought the white metal because of its relative cheapness to gold...(Bloomberg)

Gold and Silver Protection From Economic Cancer and Desperation of QE2
History is being made. The American public has never been no nervous, perhaps fearful of something dreadful and imminent. The global monetary system is crumbling. The typical stimulus has failed to jumpstart the USEconomy. The 20 months of near 0% short-term official interest rate has failed to revive the moribund US housing market. The phony FASB accounting rules has failed to accomplish anything except a stay of execution...(Market Oracle)

Why I’m betting on silver by David Morrison
Gold has shot back to prominence as a serious investment asset over the past few years as investors struggle to make sense of the current financial environment. For a growing number of people, gold is one of the few safe havens in uncertain times, particularly now as the debate swings between whether the developed economies are set for a period of Japanese-style deflation, or a dose of post-First World War German hyperinflation...(IBTimes)

August 25, 2010

Break of Trendline!

The volume today is as high as it was in yesterdays early session. There was 5.1 million volume at 10:30am today which matched yesterdays level. When higher volume comes in on turning points you would like to see further volume carry forward with the pullbacks to come on lighter volume. The trend line drawn into this chart has been taken down today. Three things happen when its a break of a trend line which would be

a)Reversal - In this case, a pattern of higher highs and higher lows that should bring us back to at least the 2008 highs.

b)Trap - This would mean it's gain would be short lived and somewhat soon you would break below this trend line and would ultimately test the bottom of this range.
c)Time Correction - This is what silver has been doing for months is correcting through time on the longer term charts. If this were to occur that would mean that the range we have been for months would be extended even longer.


On this chart $17.50 and $18.20 SLV values seem to make a nice little range. If we take 161.8% of the difference of 70 cents this gives us $18.63 as a price objective. Therefore on the next move higher, this would be an area to watch for resistance. As far as Fibonacci support is concerned, the areas of support i would like to use is from the beginning of the breakout which is $17.43 in SLV and on the comex it would be $17.75. Therefore take the difference from the high to it's low and take 38.2% and 61.8% off of these values to get the fibonacci levels. I will put these on the blog later on.









ARTICLES
VIDEO - ECONOMY CAUGHT IN DEPRESSION, NOT RECESSION: ROSENBERG (Cnbc)
In 6:36 min. David Rosenberg, Gluskin Sheff & Associates chief economist, discusses his belief that we are in a depression despite the government's best efforts. Positive gross domestic product readings and other mildly hopeful signs are masking an ugly truth: The US economy is in a 1930's style Depression

Gold rallies on investors' fears
Anxiety over poor economic data and slowing global growth fuels a rally in the precious metal's price...

I was not able to find as many links today that I would have liked that I put in an MSN money article in. The previous article above pretty much states that investors are getting into gold because of poor market conditions. Well DUH, what else are we supposed to expect? I only heard the mainstream media talk forever on this word "Recovery" as if they expected it to happen. The reason for this blog is because of the fundamentals for how money is created and distributed which makes silver an amazing investment in my opinion. In fact the fear that people should be placing during this economic collapse really has not even started yet. I still think before the year is up I will hear many mainstream pundits state at different times lines like "Investors are fleeing to safety to the USA dollar as Bonds have gone higher" or "Is gold in a bubble?, it sure looks like it to me!" This has been style and I do not expect it to change that much. In fact I would expect much more of the same.

Regardless of the fact, the panic of this currency crisis has pretty much only begun and when the train ride to gold takes off to the upside, Silver seems as if it's very happy to tag along. The crisis is that of a dollar and currency issue and you can not create phantom money out of thin air and then label it "Valueable" and make it such. They can try their best to make people believe it and for many years they have done so.

They have been doing so by fueling the word "Recovery" like its a for suer thing. This is endless as I browse onto Yahoo's finance page and read an article that says Recovery in Danger and when viewing the first paragraph I read "The economic recovery appears to be stalling as companies cut back last month on their investments in equipment and machines and Americans bought new homes at the weakest pace in decades." Myself personally the label given for "Economic Recovery" makes me feel ill at times when I hear it, because I know its a lie or they are that clueless. Either way it is scary, and I am all for an economic recovery, but by putting the printing press in a higher gear this does not constitute a recovery and can only devalue the dollar even worse

08/24/2010

Update 4pm EST - The volume really dried up in the afternoon, therefore it was a low volume light pullback. In fact the volume dried up so much that it only traded at 10.3 Million shares which is lower than the July 27 11 Million volume. It was still high volume for the day, but despite crushing the first hour of the day, it never held on. What I would like to see is a greater spike in volume this week that moves the price higher testing some newer resistance levels and pullbacks on lighter volume. If we see this, then we may have a nice bull market for a few weeks and maybe several.




CHART UPDATE: Volume is Huge Today! While we are seeing the Dow once again go below 10,000 for a brief moment, Silver is going higher on massive volume. Because this volume is really large, this is a rally I would consider to take seriously. Larger volume can often spur the start or end of a rally/sell off. Because this happened at the lower end of this range, this is one that I would consider to have some validity to it that could trigger a nice intermediate term bull market that may last a few weeks that can get us past the May highs.



The Volume at 10:30am is crushing all other days in the last month or so and is going to test its previous high volume days. SLV had 18.8 million shares traded on July 1, 2010. The 21 million share volume mark was its range back in May when it set its highs and lows for this current range. Often in the summer the volume can be very low and because we are ending the month, the volume should pick up and with that, this brings volatility that can enter into the market.


This is the technical indicator I was talking about on the weekend. This is the percentage gain thus far from the 50 day low. The $17.33 level will remain the 50 day low for quite some time (pending a new breakdown) and like any other technical indicator, take it for what it is. On a technical level if you are looking for a breakout, it would be $18.60 that you would want to see it take out. If the volume keeps spiking, then a test past $19.00 would not a be a surprise where we maybe able to even test the 2008 nominal highs




CHART FROM Kitco

We can see this chart and find the following fibonacci levels with a Low of $17.76 and a high of $18.48 the difference is 72 cents, therefore

23.6 = $18.31
38.2 = $18.205
61.8 = $18.035
161.8 = $18.925

If we take the 23.6% and multiply it by 61.8% we get a number of 14.58%. Whats interesting is this percentage retracement of 72 cents is ten and a half cents or a move to $18.38 from it's highs. As of 12:56 it has went to that level as a low and is stabilizing nicely at the $18.40 area. The sellers are not showing much aggression what so ever. You can also see the fibonacci holding well when looking at the Finviz Five Minute Candle Chart. For now the 161.8% is using these highs and lows and any break to new highs, the fibonacci's would need to be readjusted.
The previous low earlier today around 10AM was $18.17. With a high of $18.48 this gives us a difference of 31 cents. This gives a 161 target at $18.67 and a 38.2 target at $18.36. Therefore the 38.2 has been support and if we breakout then $18.67 is the next spot its going to. If it breaks that level then its the $18.92 marks the next projected level.


ARTICLES

David Skarica speaks with The Gold Report
Buying Silver offers an "elaborate play" on the likely money inflation ahead...

Why Jim Rogers likes silver so much
If you're an avid reader of financial columns or watch financial television, you've probably heard of Jim Rogers. Jim is one of the world's most successful investors. When he talks, it's worth listening. A small country down boy from Alabama, Rogers teamed up with another successful investor, George Soros and started the Quantum Fund in 1970...

VIDEO - David Morgan
David states silver will suffer in the sell off in stocks, where Gold will not...

Talk about silver manipulation...
I've been squinting at the calendar for the last couple of weeks, eying26 August when options expire. The manipulators like to engage otherspeculators and dealers who also have an interest in selling silver andgold down. James Turk captured the dynamic in the article atwww.fgmr.com/manipulating-the-silver-market.html...

Manipulating the Silver Market
If someone were manipulating the silver market, you would see exactly what has actually occurred in silver over the past several days.
To manipulate the price you would use your buying power and accumulate long positions until you force silver above resistance in the high $18.40s and thereby trigger all the buy-stops sitting there, including the one we placed. You would then sell your long positions into those buy-stops and keep selling until (1) you became short and (2) your selling drove prices lower...

August 23, 2010

SILVER FIBONACCI UPSIDE

Why Fibonacci works that well I can not really say, although it does give a good math diagram from where prices may go. They say that the golden ratio of 1.618033 is the universes ratio and has been shown to be effective and accurate in many ways including the galaxies spiral disk. This is not about astronomy, but more towards silver. With the Fibonacci upside, what you need to do is find a relevant price range and from there you can calculate the upside. In this case I took the low of $4.00 that is shown from the early part of the 2000s and the double top in 2004/2005 around $8.00. Therefore I can do the following calculations

161.8% = Difference (4) x 1.618 + Bottom (4) = $10.47
261.8% = 4 x 1.618 x 1.618 + 4 = $14.47
423.6% = 4 x 1.618 x 1.618 x 1.618 + 4 = $20.94

The next level is 4 x 1.618 x 1.618 x 1.618 x 1.618 + 4. This is the 685% level and this gives us a price objective for $31.42. The way things are going it may seem as if it will take forever to make it to this level (and it may seem like forever), however with the economic trends we currently see, there is nothing I can see that bring the price of silver and keep it lower. In 2008 we seen the Silver price go from the $21 level down to $8. When looking at the logarithmic chart the move to this level is equivalent to a 61.8% reduction using the $4 lows and $21 highs. Markets can either correct through price or through time and this was a correction in price. In the last year we have seen silver ranging from around $17.00 to $19.00 and this is looking like a correction through time. Because the banking globalists are still in charge and the entire system is fraud, it is very tough to say that this range will break out to the upside. However, what is not tough to say is that our currencies have little to no intrinsic value, whereas silver bullion or any kind of real silver has tangible value.


ARTICLES


Ratio Analyses Suggest Gold and Silver Will Go MUCH Higher!
“Analyzing the long-term relationships of gold with other assets suggests that, in most instances, physical gold and silver and the shares of the companies that mine those precious metals have major upside potential – truly major – in the years to come.”...

Silver Volatility Likely to Continue
Volatility in silver prices will likely continue this week on the offsetting effect of bargaining opportunities due to price declines last week and bearish technical indicators. In addition, volatility in the dollar index could result in additional volatility in silver prices...

Gold holds near $1,230 as investors stay wary
Spot gold was bid at $1,226.25 an ounce at 1139 GMT, against $1,226.95 late in New York on Friday. U.S. gold futures for December delivery eased 20 cents to $1,228.60. The precious metal rallied to a 1-1/2 month high at $1,237.15 an ounce last week after a spate of lackluster U.S. data knocked confidence in the economic recovery, boosting interest in the metal as a haven from risk...
Biggest Gainer Gold & Silver Stocks (CHNR, SSRI, GG)
China Natural Resources Inc. (NASDAQ:CHNR) stock is currently trading at $10.27, up 1.68% from its last closing price. The stock opened at $10.30 today and this price is also its intraday high. It has 52-week price range of $8.25-$14.98. Its 50-day moving average is at $9.28 and 200-day moving average stands at $10.88. The stock's EPS is $0.38 and its beta is 1.59. China Natural Resources' P/E ratio is 26.32 and its market cap is $227.23 million...

August 20, 2010

CHART UPDATE 12:50PM - Silver is lower today and is looking to find support at the SLV level of $17.53. This level is the two thirds or 61.8% fibonacci level from the biggest highs and lows on this chart. Everything is going lower today as we have seen the Dow Jones lose over 500 points in two weeks as well as gold selling off. Gold has not been hit as hard as silver lately, which means the gold to silver ratio is going higher on the short term chart. The moving averages on the chart is the five day average (stated on the photo) as well as VWAPS from those significant highs and lows. On the way up, these are areas to watch and observe its level of resistance.


ARTICLES
The case for investing in Silver
INTERNATIONAL. In the time of the ancient Babylonians - long before the periodic table - there were seven sacred metals: gold, silver, copper, iron, tin, lead and mercury.
In Roman and Greek Mythology, the First Age was called Golden, the Second Age Silver. Apollo, the god of truth and light, and teacher of medicine, carried a silver bow...

Is Silver Set To Move Higher?
A pundit revisits silver's history and the silver:gold ratio and looks for an upwards rerating in this time of fiat currencies.
In the time of the ancient Babylonians - long before the periodic table - there were seven sacred metals: gold, silver, copper, iron, tin, lead and mercury...

Silver: the forgotten metal – Investors Chronicle
Record gold prices have been grabbing the precious metals headlines, although it’s gold’s forgotten sister, silver, that has actually performed more strongly over the past year. the silver price has risen 48 per cent against gold’s 33 per cent during that time, albeit while gold...

Why the Really Big Play is in Silver
Those transfixed by gold topping the $1,200 level again have been missing the real action in silver. The white metal has soared 24% to $18.46 since the February low, compared to a more modest 15% move for the barbaric relic, an outperformance of 1.6 to one.
I have been a raging bull on silver all year, grabbing you by the lapels and shaking you senseless if you didn’t buy. It is nothing less than owning gold with a turbocharger. Silver gives you a nice double play...

Prediction: Silver Will Go to Parity With Gold
In an interesting Web Bot prediction, Clif High and George Ure of the Half Past Human project suggest that an epic event will occur in early November of 2010. Clif High says it won’t necessarily be a war, but rather, an event that will be associated with the death of the US currency.
The attached video below uses a variety of sound bites from interviews where currency collapse, the gold market, paper gold and silver are discussed...

August 19, 2010

Silver is holding nice thus far. If we take yesterdays low of $17.79 and Tuesdays high of $18.23 we can get a difference of 44 cents. 1.1618 x 0.44 is 71 cents, and in this fibonacci upside gives us a target of $18.50 SLV on an upside move. SLV has not been that high since June 28 and would still be in the range if it goes that high.

StellaConcepts Silver Update


ARTICLES

Silver, Two of Seven
As a general rule, the most successful man in life is the man who has the best information
In the time of the ancient Babylonians - long before the periodic table - there were seven sacred metals: gold, silver, copper, iron, tin, lead and mercury.
In Roman and Greek Mythology, the First Age was called Golden, the Second Age Silver. Apollo, the god of truth and light, and teacher of medicine, carried a silver bow...

Investing In Silver Coins, Silver Futures And Silver Stocks!
Silver vs Gold? What is better as an investment. Many people are obviously going to say gold. But, to tell you the truth silver prices are expected to skyrocket three times more fast as compared to gold in this decade. The reason is simple! Silver has far more industrial uses as compared to gold...

Silver Wheaton Call Options Move Up Today
As you know on the 29th May 2010 we purchased some Silver Wheaton (SLW) Call Options which are the September 2010 series, with a strike price of $21.00 and we paid $1.30 per contract for them. On Friday, 2nd July 2010 we decided to take advantage of a dip and so we doubled our position for a cost of $0.95, reducing our average price to $1.12...



This is Silver Wheaton's (SLW)daily chart which has seen a great percentage gain higher from the bottom. Is it up too much? At some point it will be and to determine a number value for this is hard to say. There can be many retracements along the way as it has managed to get back to its pre market collapse levels making new highs. Because it has been testing key resistance and holding well, another market surge to the upside would not be surprise to levels approaching even post $30.00 per share. Have a great day
EndlessMountain

August 18, 2010

Chart Update 11:30am EST - The Fibonacci from the lows on Aug 11/12 of $17.80 and highs from $18.63 yesterday gave Fibonacci levels for $18.12 and $18.31. Another big sell of happened at 8am today and it was over a 50% retracement. Therefore the new adjusted fibonacci from the new low we put in of $18.17 with the $18.63 high has the fibonacci at $18.35 and $18.45. It is currently at the $18.35 level where it should consolidate for a while as the markets normally do after the morning session. Chart is from Finviz

UPDATE 12:04PM - The consolidation at $18.35 was short lived and sure enough a move to the next fibonacci level has taken place at the $18.45 level where it should consolidate at that level.

UPDATE 3:05PM - The question will be now is if this rally is for real today. The $18.45 worked out perfect with a high of $18.475 in todays intraday action. The bottom was $18.17 which is a difference of 30.5cents. Since it hit the top today, the lowest silver has traded at is $18.38 and that is a retracement of 9.5 cents. 9.5 divide 30.5 is 31.1% and has thus far been making successful retracement. Holding the 61.8% will the most crucial and 61.8% of 30.5 is around 19 cents. Therefore we can reduce 19 from the high of 18.475 and now realize that $18.285 is the key support level that needs to hold.

Tony Robbins on the Economy!
This video has nothing to do with silver or gold, but it has a lot of sanity. Thank you SilverFuturist for sharing this link. This two part video by Tony Robbins talks a lot about economics and market psychology. Instead of seeing this economic collapse as a doom and gloom event, one could be advised to see this as reality and thus what positive changes and actions can one do in their life based on these cards being dealt? Thank you and enjoy the video







LINKS

Has Mixed Economic Data Tarnished Investors’ Interest In Silver?
Ever since the volatile trading days of early May, Silver futures prices have been in a consolidation mode, with the market now seemingly comfortable trading around the 18.50 area in the December futures. Unlike its more popular cousin Gold, Silver has not really...

Why Gold and Silver Seem Stuck
I have contended that the Obama Administration has printed so much money that it will cause serious price inflation. So why is gold stalled around $1,200 and silver around $17 and we are seeing actual price deflation? Let me restate some economic principles: Inflation is first and foremost a monetary phenomenon. Monetary inflation is the real threat caused by creating money out of nothing. Price inflation is not...

08/17/2010

The Purpose Behind Engineered Economic Collapse
Everyone loves money. Even people like myself who abhor the abuse of money and commerce, who understand the fraudulent nature of the system we live in, still work hard and save so that we might attain a sense of stability within that system. Many people see money as a focal point to their existence...

Inventory Fraud Increases in Silver Market
For those who still do not understand the fraud in silver this is a great article by Jeff Nielson. At this stage of the game I think most of my readers are well aware of what is happening and understands it is only a matter of time before this fraud blows up in JP Morgan’s face.

Gold and silver daily commentary
While equity markets in Asia were mixed, stock indices in Europe are generally higher this morning. U.S. stock indices are trading moderately higher during the early Tuesday trade. The Dollar is weaker against...

August 16, 2010

Silver is up today and managed to make it to the fibonacci level of $18.4625 on the Silver Comex that I reported on Friday. The downtrend line you can see on the photo has been taken out and now this means we are moving higher up within' this range. On the weekend video I was mentioning how we are in a symmetrical triangle over the last three months from the early top in May and the early bottom a week following its top. As we move forward towards the upside then we may encounter some areas were resistance shall come up strong. This range does have to break to one side or the other and generally the longer you are in the range, the bigger the explosion. Its been over three months now and thus its been long enough to give probability odds to have a nice explosion on the breakout of this range, whenever it may take place. There is a poll on the right hand side of this page which is asking where the range will break out. Thank you for all whom vote on this poll.


ARTICLES

Morgan Silver Dollars - an excellent investment match for immediately’s economy
Morgan Dollar coins are the premium selection for when looking to spend money on silver. These cash are one of the oldest and common investment tools. The cash got here into the image in early 1878. They were initially designed...

Silver Prices Could Face Volatile Week
Technical indicators imply a volatile week ahead for silver. The dollar could rally on data releases while overall concerns of the strength of economic recovery loom large, increasing volatility in the white metal...

Investing in Gold and Silver to Buy Real Estate in the Future
It’s no secret that the economy isn’t doing well, the U.S. dollar is weakening, and that the U.S. government has been spending ridiculous amounts of money to keep the economy afloat, not to mention the Fed printing money at record amounts...

Weekend - August 14 & 15

Value of Silver vs. Value of the Dollar

How to choose Silver Bullion and Silver Coins

Money, Inflation, Fear, and Industry: The Basis for Capital Gains in Precious Metals

Investors Should Prepare Now for Coming Inflationary Depression – Got Gold?

Silver The Undervalued Metal

Is a Crash Coming? 10 Reasons to Be Cautious

August 13, 2010

Chart Update 12:42pm EST - Choppy intra day action. On this HOURLY chart from Finviz $17.96 has been support which was resistance on August 12. The most recent high on this chart is $18.175 and the low is $17.80 which is a difference of 37.5 cents. Therefore the fibonacci math consists of .375x.382+17.80 which gives us a price objective for $17.945. This area now becomes a big level.

Using Fibonacci Upside, the best range I found was from $17.975 and $18.15 we can get the 161.8% target for $18.4625 on a breakout.


Chart Update 10:35am EST- Silver is currently trading at $18.04. If we take the value of the early morning highs of $18.18 and the 9AM lows of $17.97 gives us a difference of 21 cents. 0.21x0.618+17.97 = $18.10. This level was taken down which is telling me this sell of this morning might be a failed move. The new fibonacci we can calculate is the difference of $18.14 and $17.97 or 0.17x0.382+17.97. This means $18.03 or $18.04 is the area this needs to hold. This is where we are now and if this does not find a level of support, I would expect another test of $17.80


Economy Teeters On The Brink and Market Manipulation Continues
Business as usual in America, deception abounds on Wall Street, more borrowed money created out of thin air, Fed may change tactics to force banks to lend,Gold clearly manipulated down every expiration day, and no jail time for anyone yet at Goldman Sachs, Citigroup, or Berkshire Hathaway, market manipulation continues as economy teeters on the brink.


GUILDF40 - Video on coins


Stellaconcepts interviews Dan

2009 Video from Robert Kiyosaki

August 12, 2010

Todays high of $17.74 SLV was around the 38.2% retracement from the recent selling.

AUG 4 HIGH - $18.28
YESTERDAYS LOW - $17.43

38.2% = $17.75
61.8% = $18.00

Therefore, with this correction on the shorter term time frame we can adjust the fibonacci retracement and find the area for support.

YESTERDAYS LOW - $17.43
Todays HIGH - $17.74

38.2% = $17.62
61.8% = $17.55

I was saying recently how important $17.50 happens to be. Because we had a test of this area on Wednesday, this does increase the chances this level can be taken out. However if it can hold either of the two fibonacci levels mentioned above and rise back to the $17.75 area, then we can have yet another test of those cluttered moving averages on the chart. These averages will stay flat in this manner until we can eitehr break this range to either the up or down side.


Food Inflation up 11.4% Year over Year!

I was browsing this brief article that mentions food and gas prices have increased over 10% in just one year. The CPI does not like to calculate food and fas as part of the inflation figures. There are a lot of things that they do not like to do that they do not. Documents that they give you have a lot of particulars that make their stats to be not accurate. August 14, 2009 the prices of silver was $14.72 and thus the inflation on silver has mounted to a 22.3% increase year over year with the white metal using $18.00 as todays price. For those whom are aware of what is going in within' this world, we can see that printing money in the methods that is being done is not a sane method of economic policy. That is why I have created this silver log, because as our world governments keep printing useless paper notes, this can only devalue the money.


I have not found any articles today, and thus will look again Friday for new ones. If you know of any that should be on here, please message me on this channel, youtube or twitter (User - EndlessMountain)

August 11, 2010

Silver Update - 1:47pm EST. The $17.86 level has worked well as support. When looking at this 5 min chart below the range from its bottom was $17.80 to $17.89. 0.09x1.618+17.80 = $17.945. That was the top it recently touched. The next price target is 0.09x2.618+17.80 = $18.035. The next level after this is $18.10 as this the 61.8% level from the $18.29 highs. After this is $18.15 which is the 38.2% level going back to the highs of $18.70 last week. Therefore if any moves happen to take us higher, I would expect it to lose stream around $18.10-18.15. $17.85 which was fibonacci support before is the 38.2% level from the highs in the last hour is massive. To maintain its upward momentum, this is the area it needs to hold. If it does not then a twenty cent drop is expected.



Silver Update - 11:35am EST. The failed move in silver is the afternoon session from yesterday. Silver has now fallen below $18.00/oz as it remains in this tight multi month trading range. The high on this chart is $18.70 and the low is $17.32. The difference on the two numbers is $1.38. If we multiply this number by 38.2% this gives us 52.7 cents we can add on top of $17.32 which gives us a level for $17.86. Because as of this post, Silver is at this level, it is an area it is likely to find some degree of support. If you trade because it reaches this area, I advice you to be aware of risk and reward and thus have proper stops in place. There is another level going to $17.67 if this level fails to hold. This is a key area for silver, because if a chart is not able to hold this significant fibonacci level, then it can very easily manifest itself into a fast move on the short term trend going lower.

Finviz Silver Chart

ARTICLE - Bob Chapman Forecast for August
Well, it's just the same old, same old, business as usual in America. The Fed creates money out of thin air, uses it to keep the economy from teetering over the edge of destruction as ludicrous salaries and bonuses are collected by Wall Street Illuminists and as US consumers are deceptively informed that we have green shoots sprouting up and that recovery is just around the corner.

ARTICLE - International Business Times
At this point, intraday bias in silver remains neural. Nevertheless, note that break of 18.075 support will confirm that rebound from 17.324 is finished. In such case, intraday bias will be flipped back to the downside for 17.08/195 support zone again. On the upside, above 18.70 will bring another rise to upper trend line resistance at 18.9 level instead

ARTICLE - Regulators get tough on silver trading floors
The State Bank of Viet Nam has asked the Prime Minister to restrict silver trading floors and shut down any offering escrow trading.

ARTICLE - Is Silver Ready to Move Higher?
James Turk writes --

It is gold - and not silver - that gets all of the attention being given to the precious metals these days, and why shouldn't it? After all, gold has risen nine years in a row against the US dollar and appreciated during this period at an impressive average annual rate of 17.1%. In a continuation of this trend, gold is up 9.9% year-to-date, making it one of this decade's best performing asset classes. But don't overlook silver.

August 10, 2010

Update 7:24pm EST - The fed meetings brought the price of silver higher. The move earlier that is circled in the photo is a potential for a failed move. If it is a failed move, the fast move has not happened yet, but should happen by the open on Wednesday. If this does not happen then the $18.18 level is going to be huge. The reason for this is if the support is not able to hold then the failed move will be this afternoons action to highs and the expected price target to the down side would be $17.67 for a fast move.






As of 1:40pm EST on Tuesday, the comex of Silver is trading at $18.19/oz. The technicals still have us located within' this range that has been a range that has lasted pretty much the entire year. On the short term the five day moving average is starting to give in or reverse to a bearish formation as the fifty day average is being used as resistance. There is some great articles on todays blog, including one from SeekingAlpha on the inventory fraud by JP Morgan.


ARTICLE: Inventory Fraud Increases in Silver Market
When I first began examining supply/demand data on the silver market several years ago, I was somewhat hesitant to form conclusions, as silver (and gold) have traits which are very different than ordinary commodities – which affects supply/demand analysis. The second factor which made such analysis more difficult was that supply and demand are reported much differently than for ordinary commodities.


ARTICLE: SILVER BULL RUN TO CONTINUE
Silver is unlikely to lose its charm in the coming days even as analysts predicted that the metals is expected to remain bullish this week, supported by technical indicators, a weak dollar and weaker China economic data.

ARTICLE: Why the Official Antipathy to Gold and Silver?
Every so often someone asks, 'Why do the government and the banks manipulate the price of gold and silver?'

There is a great deal of circumstantial evidence to support this, even some blatant quotes pertinent to the topic from the likes of Volcker, Greenspan, and Bank of England governor Eddie George. Of course it can all be denied. People can deny anything, even well known historical events with many witnesses, if it suits their bias and purposes.

The range remains

SLV Silver Chart

The Week of MAY 5-12 brought a move of almost 15% uprise in silver. Since that point it has not broke below its low or high as it is now approaching three months. The longer we are in this range, then the odds favor a bigger breakdown or breakout. Just because you know silver is a great investment for any reasons that are all great, does not mean it can not go lower. For if this was the case, then silver would not have lost over 60% in 2008. An article written by kitco today states a nice size purchase of contracts were entered. Today we are seeing silver sell of marginally, while the dollar is higher marginally.


Article
09 Aug 2010, 12:23 p.m.
By Debbie Carlson
Of Kitco News

Chicago -- (Kitco News) Speculative investors increased their long positions in all precious metals futures contracts, but their purchases in silver were the most pronounced, according to U.S. government data.

The Commodity Futures Trading Commission’s weekly commitment of traders’ data from Friday saw the managed money group increase their long silver positions by 6,364 contracts to net 28,941 contracts in the disaggregated futures and options combined report. They also cut shorts by 1,108 contracts. Meanwhile, swap dealers and the producer/merchant category saw long positions cut and shorts added for both. Swap dealers are net short only 1,340 and producer/merchants are net short 51,950 contracts.

The rise in speculative silver long positions comes as silver prices have rallied lately. Prices rose during the week the data covers, which is through Aug. 3, and continued to gain through the rest of the week, so speculative positions could build again when fresh data is released Friday.

Barclays Capital said in a research note Monday that speculative longs are the highest in month, when using the CFTC legacy report.

Commerzbank said Monday while speculators increased net-longs in all precious metals, “the expansion regarding silver was particularly pronounced.” The bank said the increase in managed money positions to nearly 29,000 contracts was a 33% rise, and the highest in five weeks, when using the disaggregated data.

“This means that financial investors have significantly contributed to the rise of the silver price by more than 4% in the reporting week,” the bank said.

With the gold-silver ratio slightly over 65, the bank said the white metal remains “relatively low priced” versus gold and calls silver “an attractive investment alternative to gold and expect a price increase to US$ 20 per troy ounce by the end of the year.”

Regarding other precious metals, Barclays said platinum and palladium net-long fund positions are at their highest since mid-May.
From Kitco Website


Mike Maloney on Rich dad from 2009

Intro

Hello. The plan with this webpage is to provide the daily chart updated once per day when the London Exchange puts its closing values in, as well as adding any information that is relevant to silver. Finding the important links and embedding the videos I see for the day that has to deal with silver. This also gives me a place to put articles that I choose to write as well as a place to put other charts. The short term chart is automatic from FreeStockCharts at the bottom of the page and I think this would be a great idea.

Video from SilverFuturist 08/01/2010