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bought 1500 shares between 48.16- 48.5 couldnt help think it touches 50 before heading down
Time to short this
26 dec Big drop
Silver under 30$ next week
Now in short position , january change to Long
yes looking to buy again today down %6 for short term trade
U.S. Dollar gets the love in chaos... the best bet for Gold and Silver is resolution of the cliff stuff with dollar dilution as the solution and continued Fed interest rate intervention......
I think you own this one right now...
- debt ceiling about to rise; dollar to get weak...
- Fall off cliff will be wild.... filled with those that beleive it will increase revs in Fed is good, and those the think it will slow spending on goods and sevices as cause economic disaster. Mass confusion coming IMO. Safe investments to be desire.
Uuu are you watching this....
correction 1,000 shares
good enough checked a few sites and your correct I am on bid now getting 5,000 shares for short term trade
As far as I know, you pay no fees. It is an ETF an traded like a stock. They are build into the stock.
looks like for now that doesn't matter giff, silver is getting hammered. Some are saying bottom is around low 29s.
When do you pay the fees on this fund? I am thinking of short term trades because of the inter-day swings
looks like Dollar is about to be a bear...
I believe the pull-back is done with. On to higher highs. EOM
Sugar High
How sweet it is!
$40 silver dead ahead!
Sweet....
I use options as my main strategy. Right now Im up really big on all my SLW calls. Many have tripled and doubled in price. A few of them have more than quadrupled and dont expire for another 5 months. You should look at SLW as a play. It will be what QCOM was to the tech bubble - Humongous!
Good point, true blue,
but have you ever made a short term mistake? AAGH?
Good luck with your long term strategy. I have one of my own too.
We can compare notes next year.
-Crusader
You were so sure you exited at the right time for your time horizon. I guess you now realize your mistake. Some of us have been long Silver instruments for years now through the ups and downs. You shouldnt try to time your trades IMO. You end up missing out on the big moves
I blew it, exit timing was horrible,
even if it was only 100 shares.
And I hate to chase it now with the chart indicators at "over bought".
True, timing is everything, but exit was right,
for my time frame and discipline. I captured the profit projected, and left some more for ya all.
I will be back in AGQ before the Fed meeting in 2 weeks. See you then!
Shorted the S&P 500 x2 today around the highs of the day. Here comes September and by Weds., I expect to keep up with this board's profit, OCICBW.
Cheers!
just jump back in
timing is everything...ouch
Out of all positions on opening spike,
this morning was exit time.
Nice day in AGQ-land!!!
Many more to come from the looks of the chart.
Good stuff! Thanks much for the link.
All systems go, it appears.
It likely won't be a straight line, but it's the trajectory that matters.
Middle East tensions may be part of it... Israel contemplating an attack on Iran before US election to preempt potential political BS out of DC. Per Kudlow/CNBC this evening.
out @ 43.25 set another buy at a dollar lower.
Hey - havent seen you around much. Thought I would let you know that there is a new minting of NEW WORLD ORDER 1 oz rounds from momssilvershop.com - I remember you really liked them.
The original 2009 issue was a minting of about 100,000 the dies are worn out so there wont ever be any 2009's ever minted. They sell on ebay now for between 70-100.00 - I originally paid between 45 - 50
There are very few traded on the open market as they have been hoarded. I suspect we will see the same behavior with this new minting.
http://www.ebay.com/sch/i.html?_nkw=new+world+order+silver+bullion&_sacat=0&_odkw=new+world+order+999+silver+bullion&_osacat=0
Dollar Drop Silver up...
Aug. 21, 2012, 9:12 a.m. EDT
U.S. stock futures up with Europe
By Kate Gibson and William L. Watts, MarketWatch
NEW YORK (MarketWatch) — U.S. stock-index futures rose Tuesday on hopes the European Central Bank will step in to reduce borrowing costs for troubled euro-zone governments and contain the region’s debt crisis.
“Germany seems willing to give a little on Greece, not with new money but with easier terms on debt owed and possibly some more time to meet budget targets,” emailed Peter Boockvar, equity strategist at Miller Tabak. See markets stream .
Greece prepares further $14.2 billion in cuts
Details of Greece's €11.5 billion ($14.2 billion) austerity plan are emerging as Prime Minister Antonis Samaras moves to demonstrate his government is serious about cost-cutting efforts ahead of meetings with European leaders later this week. Alkman Granitsas reports. Photo: Reuters
Futures on the Dow Jones Industrial Average (CBOT:DJU2) gained 38 points, or 0.3%, to 13,267. S&P 500 futures (GLC:SPU2) advanced 4.8 points, or 0.3%, to 1,419.5, while Nasdaq-100 futures (CME:NDU2) rose 11.75 points, or 0.4%, to 2,791.75.
European markets were lifted after news reports highlighted remarks Monday by ECB Executive Council Member Joerg Asmussen, who backed the concept of renewed bond buys by the central bank in an interview with a Frankfurt newspaper. Read: Europe stocks up as banks, miners rise.
The ECB on Monday said a weekend news report that it was weighing a plan to cap sovereign yield spreads within the euro zone was misleading, while Germany’s Bundesbank reiterated its opposition to any renewed ECB bond purchases.
Wall Street posted a virtually flat finish on Monday. No major economic data are on tap Tuesday, leaving investors to look ahead to Wednesday’s release of the minutes from the latest meeting of the Federal Reserve’s policy-making committee.
i think its running up because of anticipated fed announcements. i doubt they will announce anything tho. hopefully it doesnt get smacked down tomorow
i want it to break 100 ;) but not too sure, keep watching for the signs :) next hard resistance is near 43 and change.
could this break 45?
wwwweeee still holding EVERYTHING :) and will be for a little while longer ;)
break above 40 and we got it (spot break ~28.35) EOM
wwwweeeeee still holding this one! good day! lets see more action!
time to let her bust a move up! IMHO
August 15, 1971: Inflation Unleashed
http://www.24hgold.com/english/news-gold-silver-august-15-1971-inflation-unleashed.aspx?article=1480733534G10020&redirect=false&contributor=Nick+Barisheff
The general public, the media and most financial observers were largely unaware of the momentous event that took place on August 15, 1971. However, the implications of that event have had an enormous impact on global financial conditions ever since. On that date, US President Richard Nixon “closed the gold window”. In essence, this meant the US would no longer honour the Bretton Woods Agreement of 1944, which made the US dollar the world’s reserve currency, and allowed other countries to convert their US-dollar holdings into gold. In simple terms, the US defaulted. Those who may have glanced at the announcement buried within the pages of their daily newspaper were unlikely to have understood the implications for their financial future.
Under Bretton Woods, there was some control over the money supply since other currencies were convertible into US dollars, and the dollar itself was convertible into gold. With the demise of Bretton Woods, the entire world found itself on a monetary system backed by nothing more than the faith and credit of individual governments for the first time in history – a pure fiat system. This meant there were no longer any restraints on the amount of money that individual governments could create at will. As a result, a flood of paper money was unleashed globally, a trend that has increased exponentially over recent years.
The official justification for Nixon’s action was that foreign central banks were getting nervous about the dollar’s strength caused by a growing US federal budget deficit, and were converting US dollars into gold in increasing amounts. The US gold reserves had declined from a peak of 21,682 tonnes in 1948 to 15,821 tonnes by 1960. By the time Nixon closed the gold window, US reserves had dropped below 8,500 tonnes. Nixon could not risk any further depletion of US gold reserves.
As a consequence of Nixon’s move, the US dollar declined against most currencies over the following decade, and declined 95% against gold as the price of gold shot up from *$35 per ounce to a high of $850 per ounce in 1981. The situation finally stabilized when the US Federal Reserve raised interest rates to 18%, halting further declines in the dollar and triggering a 20-year bear market in gold.
Without the fiscal restraints inherent in a gold-backed currency, politicians worldwide were able to promise social programs and expand government bureaucracies that could be delivered through borrowing money created by the central banks rather than through direct taxation. They could embark on military campaigns with borrowed dollars that future generations would have to repay. And borrow they did, particularly in the US. In 1971 the total US federal debt stood at $436 billion. Today, that number exceeds $8 trillion. The 2005 increase in the federal debt of $571 billion was more than the total debt in 1971. Worse still, when calculated in accordance with Generally Accepted Accounting Principles (GAAP), and taking unfunded Social Security and Medicare obligations into account, the total federal debt is actually $49.4 trillion. This equates to more than $160,000 for every American.
From a monetary base of about $800 billion in 1971, the growth in money supply started to accelerate exponentially from 1987 onward, as Alan Greenspan became more comfortable in his role as Federal Reserve chairman. During his term in office, he created more money than all the previous Fed chairmen combined. At the time of his appointment in 1987, the total broad-based money supply (M3) stood at $3.6 trillion. By the end of his 19-year tenure, it had increased nearly three-fold to a staggering $10.2 trillion. Greenspan’s replacement, Ben Bernanke, is likely to surpass Greenspan’s record. He earned the nickname “Helicopter Ben” following a speech in which he said, “The US government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many US dollars as it wishes at essentially no cost”, and suggested that the US Fed could resort to dropping money from helicopters if necessary. In the future, the amount of money created by the Fed will be difficult to determine since it has announced that, after March 2006, M3 will no longer be reported.
The unrestrained creation of money since 1971 has gradually been eroding the purchasing power of most currencies, and has resulted in a subtle form of indirect taxation. In terms of purchasing power, the US dollar has lost 82% as measured by the Consumer Price Index (CPI). All the world’s other major currencies, freed from the constraints of gold, have lost similar amounts. The Canadian dollar, for example, has lost 83% of its purchasing power. Today, most people view inflation as an increase in the cost of living as measured by the CPI. However, the accurate definition of inflation is an increase in the money supply that leads to rising prices. Increasing money supply is the cause; increasing prices are the effect. In recent years, most industrialized countries have been increasing M3 by more than double the reported increases in the CPI. Some of the annual increases in 2005 were: US 7.8%, Canada 8.4%, Euro zone 7.6%, and Britain 12.1%.
Apart from increases in the cost of goods and services, expanding money supply can also lead to financial bubbles. In the 1980s, Japan increased its money supply by a factor of three. This led to both a stock market bubble and a real estate bubble. Both sectors experienced massive declines when the bubbles burst, and are still more than 75% below their 1989 peaks. In the US, expansion of the money supply started to accelerate after the market crash of October 1987, when Greenspan began lowering interest rates and expanding the money supply. The excess money first flowed into NASDAQ stocks. In December 1996, Greenspan made his famous “irrational exuberance” speech as the NASDAQ approached 1,000. The market became even more “irrational”, however, and climbed to 5,000 by March 2000. When the first bubble burst, the NASDAQ lost 75% of its value, and today remains 58% below its 2000 high. As interest rates were lowered even further, new money flowed into the real-estate market, creating a housing bubble as consumers bought new homes with low-cost mortgages. The housing bubble set off a wave of consumer spending, as proceeds from mortgage refinancing were used to buy consumer products. Today the real- estate market is beginning to falter, with mortgage foreclosures and debt defaults accelerating.
“The way our current monetary system works, the careful savings of a lifetime – including your pension – can be wiped out in an eyeblink.”
Dr. Lawrence Parks
Executive Director, Foundation for the Advancement of Monetary Education
The effects of uncontrolled money expansion have already been experienced in Mexico, Brazil, Argentina, South-East Asia, Japan and Russia. Each has experienced a major currency crisis accompanied by plunging stock markets and collapsing real-estate markets, while many bonds and other debt instruments became worthless. Precious metals prices increased dramatically during these currency crises, acting in their traditional safe-haven role. Now, warnings of trouble ahead for the US dollar are being sounded. As measured by the US Dollar Index, the trade-weighted value of the dollar has declined by 25% from its peak in 2001. In gold terms, however, it has lost over 50%. Since mid-year 2005, all currencies have started to decline against the prices of gold, silver and platinum, signaling that astute investors are beginning to lose confidence in paper currencies and are turning to precious metals to preserve their wealth.
As even more credit money is created, global investors will begin to lose confidence in the US dollar and question whether the US is able to repay its massive debt obligations. The US federal budget deficit, trade deficit and current account deficit are already growing exponentially. Eventually, investors will be unwilling to purchase US debt as they have in the past. This will force the Fed to increase the money supply even further in order to purchase federal debt obligations that foreign investors are no longer interested in. As more money is created, the exchange value of the dollar will plummet even further, and foreign investors will suffer increasing currency exchange losses. Eventually they will begin selling their US investments and converting their US-dollar proceeds into other currencies and precious metals.
Just as all previous attempts to implement a purely fiat monetary system have failed, so will this 35-year paper money experiment. Throughout history, kings, emperors and politicians have never had the self-discipline to limit their spending in the absence of the restraints imposed by gold. While the timing of a US-dollar collapse and the global currency crisis that will accompany it may be difficult to predict, it looms ahead nevertheless. There is little chance that the mountain of US debt will ever be repaid, or that the US trade deficit will be reversed. Without massive inflation, the US has no way to meet its $50 trillion Social Security and Medicare obligations. As global investors look to other currencies, they will realize they are not fundamentally any better. Most foreign central banks will attempt to debase their currencies to match the decline in the US dollar in order to stay competitive in exports, resulting in a round of competing currency devaluations where all paper currencies decline relative to gold, silver and platinum. Individual investors, institutions and central banks will turn to the historical safe haven of precious metals to protect their wealth. Since all three metals are already in a supply deficit and aboveground supplies are minute in comparison to financial assets, growing demand will push precious metals’ prices dramatically higher.
The ultimate consequences of Richard Nixon’s decision to close the gold window on August 15, 1971 will then be understood by everyone.
*All dollar amounts expressed in US currency unless otherwise indicated.
Nick Barisheff
Bullion Management Group
GATA's Chris Powell on the Silver Manipulation Probe & the Fed Gold Audit!
7:00,11:00,12:00 silver price
15:30,16:40,18:00,20:00,23:00 gold price
In $AGQ today @ 39.06
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(notice: Nov, 4th 2010 went above the resistance line - close at 118.49) (F/S price 59.25)
ProShares Ultra Silver (the Fund) seeks to provide daily investment results that correspond to twice (200%) the daily performance as measured by the United States dollar fixing price for delivery in London. The Fund will not directly or physically hold the underlying silver, but instead will seek exposure to silver through the use of financial instruments, whose value is based on the underlying price of silver to pursue their investment objective. The benchmark price of silver will be the United States dollar price of silver bullion as measured by the London fixing price per troy ounce of unallocated silver bullion for delivery in London through a member of the London Bullion Market Association (LBMA) authorized to effect such delivery. The Fund's investment advisor is ProShare Advisors LLC.
FACT SHEET:
http://www.proshares.com/media/documents/ProSharesFactSheetAGQ.pdf
Daily Holdings:
http://www.proshares.com/funds/agq_daily_holdings.html
How AGQ works!
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=60137288
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