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LOL, the question is... where do the big boys go from here? Is the COMEX going to bring margins back down to stay competitive, or will banks move to an entirely new play?
There’s no doubt that a run on physical silver coupled with an adjustment for inflation will send the spot between 3 and 4 fold from here EOY IMO. I think the new Hong Kong index will help destroy paper silver quicker than you think.
Where was that projection printed? Link? TIA.
Will be watching. If it ricochets off of $38, I may take a short position in case it blows past $34. If that happens it may test the 200MA, but that would be strictly a technical play if the big boys are intent on squeezing blood from a stone IMO. Then theres the dollar and China, so??? Like everyone else, just trying to play the cards dealt.
I went long EOD Friday and have moved up my stop twice already today. It won’t take much of a drop to stop me out if SLV decides to go south. Best of luck to you. If you don’t mind me asking, at what price will you cover if this continues north?
Thats what the “experts” are saying. The technicals on paper silver are lined up for a rebound and when you couple that with reserves on physical drying up, were looking at a bounce back to $50 in short order here. The $120 EOY projections (once the market figures out how to adjust for inflation) look to be right on.
We're at the bottom of the channel, - 2/3 fib and just a hair above the 30 year low when adjusted for inflation. Not to mention it's way oversold. I went long EOD Friday and will add more when supports confirmed probably mid week. Until then the stop losses are ratcheted tight, and on a hair trigger.
I think you’re right on. The flash crash is over IMO
"Just like how silver had to decline because everybody who owned it was making a profit, silver prices will soon have to bottom and rapidly take off substantially higher. There are simply too many people on the sidelines today who were waiting for silver to dip before either accumulating a position for the first time or increasing their current position in silver. The dip we were all hoping for has arrived and we need to take full advantage of it while it lasts, because it won’t last for long."
I couldn’t agree more. I think the estimated ultimate bottom of $25 to $27 is way too low. 1980’s drop to $11 correlates to $33-ish today, which is right about where were sitting. China and the rest of the “smart” money in the west will snatch up what little may be left of the physical market in short order here. I think the rapid take off to substantially higher prices as you put it is going to happen a lot sooner than most folks suspect. Wall streets greed will once again be at the heart of it because if there is money to be made, it won’t matter where the margin is set. It will sink in at some point that the markets psychological resistance at $50 has no merit in todays dollars and when its combined with a lack of physical product, we’ll peak at $150 and settle back to $120 by EOY.
Why? TIA
Right, didn’t want a gap up taking me out of the game before it even started ;)
Just cancelled my open sell orders. Need to see where we actually open and re evaluate.
Scotty shows $1.01 on the ask
Nice call BTW, by those who dug into the Chap 11 legalities and predicted the sign off 15 days prior to conference. Nailed it!
Still time for an AH PR or first thing in the morning.
I tried to take a snapshot to post but can’t figure it out. Its basically a catalog of services in a PP presentation.
L2? TIA
For a while now folks have been saying “last chance to pick up cheapies”. Today seems like it really is the last chance. If predictions are correct, the sign off should come today with a PR AH or early tomorrow. IMO
I agree. I was happy and lucky to get out on a random 100 mil volume day.
Well, it follows their past pattern of dilution and R/S. I want to give the company the benefit of the doubt, but no financials, no update on the sites in California, just another cheap PR. Think about all of the volume we saw last fall and barely got this thing to .0002 Double the number of shares and theres no hope of ever moving without an R/S. I wish everyone the best here.
Did they ever explain themselves on why no financials? My gut tells me that the Sunbiz doc from last year showing an increase to 40 bil shares is legit. Filing the financials will force them to put it in writing. Once 40 bil shares show on the O/S, they’ll have no choice but to R/S.
Wouldn’t be mad at that! Thanks.
Thats my thought. I know I’m getting impatient and there’ve been other posters expressing the same. It’s tough to watch trading ops you might otherwise jump on slip by, because you’re tied up here. The mantra of 'buy on rumor' really has me wondering why the closer we get, the lower we go.
I was hoping we’d be in the low 30’s before it took off. That way the crowd who routinely goes for a double would have pushed us past the resistance @ .58. Blue skies to a $1 per that scenario. IMO
Respectfully, dropping from a .29 high to a .21 low in 3 days is not sideways.
Yep, I fell for the 15 day malarkey as well.
Thanks for the PM. I have a cheapie account and can’t reply. Anyway, exactly the point I’ve been making here the past couple days.
We break .58 and I don’t see anything stoping it before psychological resistance at $1.
If... its just one more week. My gut tells me, for whatever reason, we’ll still be sitting here in June.
IMO, this is on a lot of radars but the smart money isn’t going to pull the trigger until this starts to move. Better to take smaller gains on a runner than sit with your money tied up for who knows how long.
I guess I’m just used to Pinkyland shenanigans. I believe QSGI is a solid investment that looks outstanding on paper, and I think the market will catch up to it. It’s when we have week after week of barely any action that I begin to think those folks on the inside, know that we’re further away from this being completed than we think. JMO and I hope I’m wrong.
"The reorganized Debtor anticipates that it will likely emerge from Chapter 11 following the May 26, 2011 status conference with the United States Bankruptcy Court Southern District of Florida, West Palm Beach Division.”
So we went from 15 days, to a PR statement that said most likely before the 26th to now following the meeting on the 26th... which for all intents and purposes leaves it open ended.
So we’re not talking about anytime from now until May 26th, but rather anytime after May 26th???
Absolutely. I realize things always take longer than expected and if all goes as planned we’ll be sitting pretty. Whats frustrating is that we were talking about 15 days over a month ago and now its the end of May. I know, I know, there was a request for more time and the company PR’d that they expect to wrap things up before the deadline. Because of that, I’m going to give it the 45 days. But if there are any other delays for whatever reason past May 26th, I’m not willing to continue to leave my money tied up. At that point I’ll risk chasing when things do begin to happen.
Very good.
Yeah, Im used to it now. Frustrated, but believe things are moving in the right direction. If were sitting here come June though, I’ll be long gone.
Double? I’m looking for at least a dollar here or I’ll feel like I wasted a lot of time.
Well that was disappointing. I can’t say that I blame anyone for getting impatient. I often wonder if getting in on the ground floor is worth the extra time it takes to see some trades take off. A lot of folks who will be chasing when the Q drop and merger happens will still make money here. Maybe not as much as the longs, but then again some will have been making money on other trading opportunities while we’ve been sitting here for the past month. Don’t most pros go for a lot of small trades rather than a couple of big ones? Oh well, what are you gonna do? Looking forward to the big PR. GLTA.