10 replies to this topic

[chris]

http://charts.prophe...82491096595.png

[hiker]

Larry Williams, the author and trader, posted today elsewhere that he is short silver futures..and he cited some COT data, etc. the guy knows his commodities.

[SilentOne]

Hi hiker,

Silver is one of my favorite investment themes. I accumulated a lot of silver bullion in 2004 (buying in a range $6.5-7.5) and currently hold a large quantity of 1 kg silver bullion bars at a jeweler in Birmingham (UK). I also bought a bunch of 1 kg Kookaburra silver coins.





Silver Coins

See my Avatar? Guess where it comes from.

Here's a good overview on silver investments.

Buy Silver

I plan to buy an initial swing position in SLV next week. The short plays are sweet when silver corrects, but I am a bull and would rather buy the corrections.

cheers,

john

[vitaminm]

SLV>>>>>>>>>>>>>>110? or may follow FXE

http://finance.yahoo...ld fx...0&a=&c=

[hiker]

John,

Thank you for the comments. I am also a bullion bull. I continue to hold my 100 ounce JM bars purchased $3-5 per ounce. I thought about selling on the recent spike, but think it is prudent to wait.

I have been a silver and gold futures and bullion trader since 1969...you ever hear of JR Simplot the potato king who invented the machinery and process that resulted in the US military and fast food servers using dehydrated spuds? He and his friends included me in a weekend presentation in that time period that spoke to the dynamics related to precious metals...I was thankful to be prepared with trading and fundamental knowledge when the Hunt brothers action heated up the gold and silver market.

this is a link to one of Fib's charts showing the partial silver history ...the peak period prior is not shown on this chart -

Edited by hiker, 17 December 2006 - 06:05 AM.

[SilentOne]

Hi vitaminm,

SLV>>>>>>>>>>>>>>110? or may follow FXE

I doubt we would break $12 here. I'm a buyer on Monday on any further weakness from Friday's close (1/2 swing position trade) and will pick up the remainder later in the week.



2007 will be a good year for precious metals IMO.





Timing for a high and a major top to sell into is Dec. 2007. My silver target is +$20. The first major wave high for this silver bull is probably ~$35. I don't when that might happen though. But +$20 in the coming year seems very possible.

cheers,

john

PS. Godmode is an excellent site for its TA take. I like to reference it because they always give two possibilities. Their charts and lines are very clean. I used to follow Mathias and his ewave before he went to subscription.

[SilentOne]

Hi hiker,

Thank you for the comments. I am also a bullion bull. I continue to hold my 100 ounce JM bars purchased $3-5 per ounce. I thought about selling on the recent spike, but think it is prudent to wait.

Ah, the gold and silver bugs come out of the closet!

I have been a silver and gold futures and bullion trader since 1969...you ever hear of JR Simplot the potato king who invented the machinery and process that resulted in the US military and fast food servers using dehydrated spuds? He and his friends included me in a weekend presentation in that time period that spoke to the dynamics related to precious metals...I was thankful to be prepared with trading and fundamental knowledge when the Hunt brothers action heated up the gold and silver market.

So you had some help from the Illuminati? Geez, I had to figure this stuff out on my own using the internet!

I was too young to appreciate the 70s PM bull, but I caught the bug in early 2001, it all started with that chad count if I remember ...

cheers,

john

Illuminati

[hiker]

Hi John, Glad you mention the Illuminata only in fun. I have never taken the time to look for evidence of such....btw, farmers and ranchers are some of the most likable, trustworthy, kind and generous people I have ever known. You chart work is most interesting...a mathematician and statistician type by the name of Ron Davis posts at another board and has been helpful in staying long during the silver trend that started a while ago. Thank you very much for sharing your work...very helpful! I will try to pass along my thoughts about gold and silver bullion over time, for consideration...and hope you keep us updated. your PFE trade may work out based on recent price action....the volume spike on the recent swing low does look like accumulation potential area and action that may likely be repeated if retested. ------- here is a cut and paste of a conversation on June 13/14 - Silver has reached its first target. Next target is 8.90. I would expect one of those to hold, and I would expect gold and silver to tend to rally together. Only recently has silver fallen enough to make the gold/silver price ratio < 50, and 50 is a pretty high ratio. reply from someone else - 200 day mover on cash silver is 9.76 .618 fib retrace 9.83 so needs to hold here

Edited by hiker, 18 December 2006 - 07:39 AM.

[SilentOne]

hi hiker,

I plan to buy an initial swing position in SLV next week.

I went long the week of the 18th. Entered SLV about 12.5.



Next key level to watch is ~ $13. Once above there, it should become future support.

cheers,

john

Edited by SilentOne, 02 January 2007 - 08:16 AM.

[SilentOne]

I added some SLV back to trading accounts today. Will add more Frdiay and early next week.



cheers,

john