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Post by jeffolie on May 5, 2010 10:10:45 GMT -6
$17 Silver gone
I saw Silver in real time pricing at about $17 this morning.
I have a hunch, without any foundation, that this may be the last time Silver trades at $17 for a very, very long time.
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Post by jeffolie on May 7, 2010 10:45:17 GMT -6
The bullion banks have reversed their quickie manipulation of silver. The sold it down from $18.80 to $17.05 and kept it down their for about 2 days. Now, its Friday and they reversed the selloff by jumping it back up to $18.33 (the spot price as I write this). At $17.05 (on May 5th), I posted that price would likely not be seen again for a very, very long time. We will see if I was correct or not.
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Post by jeffolie on May 7, 2010 11:39:53 GMT -6
CFTC Warns, GOLD/SILVER Spikes? Hmmmm.... WASHINGTON (Dow Jones)--The U.S. Commodity Futures Trading Commission issued a warning to the market on Friday to remind participants that speculative trading limits apply throughout the trading day as well as at the end of trading. Timestamp, 11:15 Central time Now let's look at two charts. You don't think that GOLD was being speculatively shorted beyond intraday position limits, do you? That oval, by the way, is right when the announcement was made. Or shall we look at SILVER? Naw, there's no evidence that "someone" (or a few someones) were breaking the law here, is there? Nobody would ever close out unlawfully-held shorts after being warned by the CFTC, would they? market-ticker.denninger.net/
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Post by jeffolie on May 11, 2010 11:23:50 GMT -6
As I write this, spot silver is at $19.28
That $17.08 price last Wednesday is looking mighty good.
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