ETFS Silver Trust (SIVR)

[americano]

Holding AGQ a ton 50 k profit,and still greedy think she may break new highs , given little more catalyst, gold should help.

Not holding sivr , but some slv

[eColi]

Yea I made out well on some AGQ calls earlier, but the last one I bought is hurting... still have a few month until expiration though, so no telling

[OlderFart]

If your talking options, thanks, but no. I know nothing about them and only invest to hold long positions. I'm planning on getting into a long term holding in gold, and some silver, in the ETFS funds because of the dollar weakness. I want to protect our IRA holdings against possible debt limit defaults and I'm also very concerned about the QE business. The dollar is just not looking good at all.

Was in SGOL, SLV and GLD until the recent May 1st business. But the article I posted the other day really soured me on the latter two funds. Checked out several funds and it looks to me that these ETFS funds are the most likely to be on the up and up when it comes to holding physical metal, not paper.

Paper backing is just another house of cards waiting to fold.

[ChitForBrains]

All three times I bought silver (this) the damn CME Groupd/Comex'd raised the margin the next day and I lost all three times.

Do you want to know when I buy again so you can run?

[OlderFart]

Yah, check this out. It'll shake you up.

http://harveyorgan.blogspot.com/

I'm moving over to here this week. These ETFS Trust funds actually have an independent daily audit on their vault physical silver and gold and the share price+weight of silver or gold in the vault jives with the total assets of the respective funds.

I find this very reassuring

[zsvq1p]

Angela Odonnell

[ChitForBrains]

They keep raising the margin and causing selloffs. They are still supposed to be way short of silver for delivery (Comex, CME Group). Eventually money will be no issue (so small investor) to scare them off by raising margins (up to 100% on article wrote).

[sometimes_right]

so is the bottom in now??? OR will they be manipulating Silver prices for months to come to scare out small retail traders with the volatility???

[ChitForBrains]

If China buys big starting in 4 hrs when the Asian market opens, look for Silver going back to $45 this week! Yee Ha!

[ChitForBrains]

Silver ETF's bigger than S&P 500, Barron's....

Ron Rowland is a jerk about silver but in the article....

http://www.moneyandmarkets.com/is-the-goldsilver-ratio-at-a-tipping-point-44475

Last weekend Barron’s reported that per-share SLV trading volume actually overtook the venerable SPDR S&P 500 ETF (SPY). Whatever you think about stocks or silver, this is simply ridiculous!

That's another reason why silver will be going up now that SLV has completely turned over their shares, Thursday.

http://www.moneyandmarkets.com/the-value-of-real-sovereign-debt-ratings-44501

In 2008, Moody’s actually rated Bear Stearns “A2? on the very day the firm failed! Standard & Poor’s gave it an “A.”

That's why you better get down and see Peter at Albuquerque Coin or Jim at the Rare Coin store and have a bunch of silver coins on hand and in safes and safety deposit boxs (and gold too, duh!)

Krauth: I'm on record as saying I expect the price of gold to reach $5,000 an ounce. I also think that the gold-to-silver ratio will drop to 20-to-1 or lower. On that basis alone, $5,000 gold would imply $250-an-ounce silver. I think demand from China will be an important factor driving that price level, as I detailed over a year ago.

I bet some readers thought I was crazy when they saw my forecast for $250 silver. Maybe they still do.

What I'd ask them is this: When it was $4 about 10 years ago, did they think it would rise 10 times to $40? Yet, that's where we are today.

Every call so far - and there have been many - for gold's "bubble" to pop hasn't materialized. I think it will be some time yet before gold and silver eventually peak. I expect that this secular bull run in the precious metals has a long way to go, and I think it will eventually make the tech-stock bull market that peaked in 2000 look like child's play.

Money Morning Executive Editor William Patalon III and Associate Editor Kerri Shannon sat down with Money Morning Chief Investment Strategist Keith Fitz-Gerald, contributing editors Shah Gilani, Martin Hutchinson and Peter Krauth, and Contributing Writer Jack Barnes, the author of our popular weekly "Buy, Sell or Hold" feature.

[ChitForBrains]

Silver ETF's fuel crash! Thursday had almost a complete change in ownership on SLV which is probably why we are going up again (profit takers gone now it's make money holders).

http://www.theglobeandmail.com/globe-investor/funds-and-etfs/etfs/record-outflows-from-etf-helped-fuel-silvers-collapse/article2013073/

Record outflows from ETF helped fuel silver’s collapse

http://www.etftrends.com/2011/05/silver-etf-saw-nearly-100-turnover-on-thursday/

Silver ETF Saw Nearly 100% Turnover on Thursday....Nearly 295 million shares of the silver ETF changed hands on Thursday, a record, as the fund dropped more than 10% and silver prices were crushed by profit taking and a spate of margin hikes....

[ChitForBrains]

Gold has bottomed out! Good for silver too.
http://www.investorplace.com/39776/a-gold-bottom-signals-put-spread-gld/

[ChitForBrains]

So since I went to sleep at about 2 am and it was up, then this makes it any far west Europe to Americas country that is still dumping (maybe England) since now its down .69

[americano]

Man what a week

[americano]

Lord I hope so, I think the fed gave Jpm Money to short it down so they can cover some without going BK : )

Put people do panic easy such as life, with stocks, I loaded on the way down but to early, thought It would bounce sooner but all the press is mostly bad press, just to stop loss the little guy , than they will go long, maybe tomorrow they figure the little guys are out, and regroup to chase it back up some.

Yahoo had all the bash out totally the Put option dudes and slv agq shorters heaven latest week.

[ChitForBrains]

Maybe the stop/loss after stop/loss has finally stopped on silver?

News on Copper and NG

The downward momentum we are seeing will likely continue over the short-term, as the deteriorating technical picture will likely trigger more sell stops," said Meir.

http://us.rd.yahoo.com/finance/external/tsmfe/SIG=12rs9smgr/*http%3A//www.thestreet.com/_yahoo/story/11108293/1/copper-natural-gas-hit-by-markets.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA

[ChitForBrains]

Well, finally, silver up on world market after NY close

[americano]

FED the biggest of all Scams ever.

[ChitForBrains]

Not going to believe this one, Larry Edelson predicts $7700.00 for gold and $235 for silver in 2015/2016 based on economic world problems.

http://www.moneyandmarkets.com/video?=922775360001

[ChitForBrains]

Two things changed silver. The CME Group figured out how to avoid a short squeeze by raising the margin requirements twice in one week last week. The the Silver Institute came out with last years supply and demand showing 100 million tons extra brought in to supply from scrap, plus a bogus supply increase of producers by hedges (what that has to do with supply I don't get it), plus showing Russia has been dumping government silver. http://www.silverinstitute.org/supply_demand.php

So if they keep margin requirements at these unblievable high amounts how will silver ever rebound? They really were short at Comex, wow, and they won with margin ups too. Time for some government rules prohibiting margin ....

[americano]

AGQ I entered to day heavy. Hope they let silver run Fed can print as much as they want though to make us think what they want though and short, Fed biggest Scam ever.

[ChitForBrains]

Don't forget AGQ (another silver one)

[americano]

Did you see they way over night the shorted silver straight down in minutes overseas , it is the last stab at propping up the dollar no doubt, I will try and catch a nice bottom in next few days on sivr or slv.

[ChitForBrains]

CME raises margin to kill short squeeze.

Bloomberg
Jason Scott

....The CME increased the so-called initial margin by 13 percent to $14,513 per contract from $12,825 after the close of business on Friday. Margins were $4,250 a year ago....

[ChitForBrains]

Gold has to go to %54,000.00 / oz for the US gold reserve of 8,000 tons to cover 14 Trillion!

Still think gold is too much?

http://uk.ibtimes.com/articles/20110426/silver-coin-demand-outstripping-supply.htm

4/26 .... Silver coin demand outstripping supply
The Chicago Mercantile Exchange Group (CME Group) also announced last night that it is raising the margin requirements on silver futures. As of the end of trading today, speculators will need to pay $12,825 to buy or sell a single full-sized silver contract, up from $11,745. The maintenance margin has been raised from $8,700 to $9,500.

Coupled with silver’s failure to breach $50, this margin hike may have encouraged some traders to sell – though previous margin hikes (this is the third in three months), have done nothing to stop or slow silver’s ascent.

This is because demand for the “poor man’s gold” remains intense. This continues to be best illustrated by the backwardation that is persisting in the silver futures market. As GoldMoney’s James Turk pointed out yesterday in an interview, despite the price setback late last night and into this morning, as long as silver futures remain in backwardation then any price declines will be short-lived. A source in London reported to King World News that Asian demand for silver will soon push the price above $100.

Heavy demand from small investors is resulting in shortages in popular coins such as the American Silver Eagle, and leading to premiums that are well above spot price on silver coins. As ZeroHedge reported yesterday, the American Precious Metals Exchange (APMEX) – one of America’s biggest wholesale precious metals retailers – warned of potential delays into mid-May in delivering Silver Eagles, and is now offering to pay $3 over spot for any Silver Eagle coins in any quantity.
...

Its the all hell breaks out hedge (to have some silver coins to barter with). You can't go take a 1500.00 gold coin to the gas station and fill up, now can you? No, you'll need a silver coin about $60 dollars worth or as Investors Business Daily said last week that if Energy Sec. Chu gets his way and shuts down the Permium Basin for a lizzard to get his $8/gallon gasoline like Europe, then maybe a couple more (three coins to fill-up).

[ChitForBrains]

Silver opened more than $5 down on world market yesterday late afternoon here. Bounced back to just down 2.77 then down 4 now prior to open down 2.5

I don't know where he gets his data, since all the times I've looked at the Silver Institute's data it has been a year or two off of current.

http://www.philstar.com/Article.aspx?articleId=681586&publicationSubCategoryId=66
• Gold/silver ratio of 33:1 points to more upside. The last time that money was exchangeable to exact amounts of gold and silver, the ratio was set to 16:1. In fact, for most of the past millennium, one ounce of gold would have been convertible to somewhere between 10 and 16 ounces of silver. Therefore, silver still has to double from here (assuming constant gold prices) for it to reach a relative peak against gold.

• Recent rise not yet comparable to 1980 bubble. During the Hunt brothers’ silver corner, silver rose 8x from $6/oz. in January 1979 to $49.45 in January 1980. Today, silver prices have not yet even tripled from the level it was last year.

[ChitForBrains]

Here's another airhead IBD, Thursday had an article quoting some guy saying the move was speculative and without merit. Yet he offerred no data to support his baseless comment.

Nothing about plenty of supply. That's because he's full of guessing and has no clue.

[ChitForBrains]

Oh, yeah! One more thing they said JP Morgan had hugh stocks of silver. So who did Uncle Sam bailout?

Now, who do you think is getting JP Morgan and other bailed out bankers to dump silver when it hits $49. Not Comex, that's for sure. Now whether it's with Obama approval or subleveled it's happening from the Fed's somewhere to pressure JP Morgan et al.

How stupid!

The world didn't end when the Hunt's screwed them in the as we know worked out just fine anyway.

Let silver run, it'll just make many Americans rich to pay more taxes anyway.

[ChitForBrains]

Article, Comex short of silver for delivery, so if the contracts ask for delivery $140/oz in this article and all chaos, Dr. Evil would be happy then.

http://www.resourceinvestor.com/News/2011/4/Pages/Could-Secret-Silver-Buying--Lead-to-Comex-Default-.aspx
Could Secret Silver Buys Lead to Comex Default?

Mark O'Byrne
Published 4/29/2011
"....Silver remains in backwardation and the possibility of a Comex default cannot be ruled out – especially as silver bullion inventories are very small vis-a-vis possible capital allocations to silver in the coming weeks and months.

The possibility of an attempted cornering of the silver market through buying and taking delivery of physical bullion remains real and would likely lead to a massive short squeeze which could see silver surge to well over its inflation adjusted high of $140/oz...."

Mark O'Byrne is executive director of Ireland-based GoldCore.
www.summitbusinessmedia.com © Copyright 2011 Resource Investor. A Summit Business Media publication. All Rights Reserved.

[Quik18holes]

It's ok ...LET IT OUT!!

Smell $50 sivr in 12 months give or take a few months.

SIVR

[Quik18holes]

I'll be that guy ..BUY NOW and dub again by 2012?!! That's being super conservative BTW IMO

Done talking here, those that know, KNOW!!!~

SIVR

[Quik18holes]

Time to start diggin'?!! ..been depleting res above ground for years, OHHHHH MAAANNNNNN!!! Kills me that I loaded in the mid teens here and know it's going to $150 +++++ IMO

*Exchanged what I thought was worthless Can Cash for an amazing return ..AT THE CASH MACHINE!!! S you not! best exchange rate!! LMAO (re: Can Cash)

Silver my baby ..how I love thee! Hoard metal and spend cash!!!

[Quik18holes]

Smiling EAR TO EAR!!!

[ChitForBrains]

Silver inventories gone in 2009?
http://seekingalpha.com/article/143934-history-of-silver-part-iii-inventories-are-gone

"....One of these implications has been discussed by numerous, precious metals commentators (myself included). Silver is “consumed”, literally. Thus, every year, we permanently lose large amounts of silver, and permanently alter the supply ratio between gold and silver.

Polyester sportswear already consumes 1,200 TONS of silver per year, which (at 32,000 ounces per ton) works out to over 38 million ounces of silver permanently consumed every year – in just one application. To put this into context, there are supposedly only 600 million ounces in total, global inventories at the moment...."

[zsvq1p]

I decided to buy too but I am going with double AGQ. The dollar is still going down IMO.

So far silver holding up pretty good.

Gap may fill?

[eColi]

I agree but got back in @ 45

[zsvq1p]

This guys says buy back in at $42. The $50 was profit taking.
He goes on to say Silver to $100

http://www.thestreet.com/_yahoo/video/11094704/go-long-silver-at-42-trader.html?cm_ven=YAHOOV&cm_cat=FREE&cm_ite=NA&s=1#919719603001

[zsvq1p]

Ok in this printing of money stage this is Gold to oil ratio. Says Gold (assume Silver too) is low priced
By Cobra

[ChitForBrains]

Yeah, will since my post silver was up april + whatever at 47.40 and all the futures 1.30++ up...

Then KABOOM! Someone, somegroup or country or countries dumped!

Now they're all down .30++ and falling!

http://www.cmegroup.com/trading/metals/precious/silver.html

[zsvq1p]

I can agree with your post.

It might be a good time to enter this week. IMO, I do think the dollar does drop but not to a point of disaster like so many predict.

Should the oil producers decide on trading oil in a basket currency it could mean more panic.

I guess we'll see.

[ChitForBrains]

I doubt silver stops going up until at least May 21, the so-called end-of-the-world-as-we-know-it-day and with the dollar being over printed... What else can the common man afford to buy now to protect his family from the so-called disaster (banks closed, but you still need gas and food - you think they'll take dollars? dream-on = that's why they're trying to pass a law to stop bartering).

Demand is eating up supply and that includes coins that we can buy and .... http://www.silverinstitute.org/supply_demand.php#demand

It is not stopping while everyone who bought coins keeps them. One bought them for disaster protection of from the dollar (ouch) and from the 2012 et. al. So you think they'll sell? No way, there has to be a reason first.

Silver is out-of-control and cannot be stopped until the end of the dollar or world stuff passes by.

The ration is predicted to go to 16 for by some. Here is a nice free site to live updates and ratio figure at bottom: http://www.kitco.com/market/

[americano]

No it has not $100 is catch up imo

[zsvq1p]

Possible reversal bar today...

I'm going to shoot for $40.75

[Quik18holes]

More like 6-8 months!! MUWHAHAHA ..right on pace

Easy! (imo)

Smell $50 sivr in 12 months give or take a few months

SIVR

[zsvq1p]

Gold to silver ratio now caught up

[americano]

SIVR follows The Price of Silver, good luck on 25 is history , maybe forever to, because the real high for Silver is about 250 an ounce.

[Moneytree420]

I thought this ETF was based on silver bullion they have in reserves. So really, you are buying silver. At least that was my take on this ETF. I really like this ETF, waiting for prices to drop between 20 and 25 to jump in. I bought at 20 and sold at 29. so I did get a small profit off of silver......:)

[americano]

Like to see us hold the 28s

[americano]

I think your smell is same as what I smell $50 SIVR maybe the move in 12 month, swings of a Dollar a day while perhaps be the thing maybe even 3 a day nearing the 50, some think it will reach $120- 250 peak in the final burn off.

[Quik18holes]

Easy! (imo)

Smell $50 sivr in 12 months give or take a few months

SIVR