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Silent Service Method

  • #12,321
  • May 2, 2011 1:16pm May 2, 2011 1:16pm
Quoting clockwork71
I like this chart on a pullback myself, which kind of reminds me of the S&P 500 right now - it has broken out and now seems to be overextended at the moment. A pullback should bring in fresh buyers of both markets.

In fact, I closed my calls on the S&P500 today, collected profits, and am looking to buy at a lower point. I would do the same in this market as well.
Yep - agree, if you're not in already.
  • #12,322
  • May 2, 2011 3:29pm May 2, 2011 3:29pm
Quoting clockwork71
Also, its time to stop bowing to others - we have nothing to apologize for, no matter what certain circles may think.
Uhmm, sorry Chris to have to bring this up...

But you Americans have a lot to apologize for... I'll just mention Lindsey Lohan...

Just kidding, I completely agree with you. In fact, for real, my eyes teared with joy when I turned on the radio news driving to work this morning.

Osama, enjoy burning in Hell you son of a pig whore!
  • #12,323
  • May 2, 2011 4:01pm May 2, 2011 4:01pm
Quoting o990l6mh
Uhmm, sorry Chris to have to bring this up...

But you Americans have a lot to apologize for... I'll just mention Lindsey Lohan...

Just kidding, I completely agree with you. In fact, for real, my eyes teared with joy when I turned on the radio news driving to work this morning.

Osama, enjoy burning in Hell you son of a pig whore!

Hey - Sweden isn't exactly clean either - explain ABBA?

  • #12,324
  • May 2, 2011 6:02pm May 2, 2011 6:02pm
I wonder who will take over the bogeyman crown next? Prob Ghadaffi ?
Any suggestions?
  • #12,325
  • May 2, 2011 7:46pm May 2, 2011 7:46pm
Quoting Razorman
I wonder who will take over the bogeyman crown next? Prob Ghadaffi ?
Any suggestions?
You obviously didn't read the comments I posted from YouTube earlier - it's Justin Bieber.
  • #12,326
  • May 3, 2011 3:51am May 3, 2011 3:51am
Quoting o990l6mh
Uhmm, sorry Chris to have to bring this up...

But you Americans have a lot to apologize for... I'll just mention Lindsey Lohan...

Just kidding, I completely agree with you. In fact, for real, my eyes teared with joy when I turned on the radio news driving to work this morning.

Osama, enjoy burning in Hell you son of a pig whore!
Some ppl think Osama's been dead for a long time.

http://www.dailymail.co.uk/news/arti...ar-terror.html
  • #12,327
  • May 3, 2011 5:39am May 3, 2011 5:39am
Quoting stewrigh
Some ppl think Osama's been dead for a long time.

http://www.dailymail.co.uk/news/arti...ar-terror.html
Well remember, a lot of people over here thought Elvis was still alive too! lol
  • #12,328
  • May 3, 2011 8:42am May 3, 2011 8:42am
Quoting calderone
Well remember, a lot of people over here thought Elvis was still alive too! lol
He is. I saw him in a Burger King in Knoxville 2 weeks ago. That, or someone who couldn't let the whole Elvis thing go. Great hair though.
  • #12,329
  • May 3, 2011 8:42am May 3, 2011 8:42am
Silver is falling today, and approaching $40, which could be support. Interesting to see how the day plays out.
  • #12,330
  • May 3, 2011 8:55am May 3, 2011 8:55am
the margin hikes are absolutely ridiculous. Those guys must be under some serious pressure to resort to those kinds of measures.
  • #12,331
  • May 3, 2011 11:03am May 3, 2011 11:03am
Quoting Razorman
the margin hikes are absolutely ridiculous. Those guys must be under some serious pressure to resort to those kinds of measures.
Back when the Hunt brothers tried to corner the silver market, they raised margins all the way to 100%. So in that perspective.....
  • #12,332
  • May 3, 2011 11:04am May 3, 2011 11:04am
Another blog post up. (last night)

I am working with the layout, so if it looks a little funky at times, that would be why.
  • #12,333
  • May 3, 2011 11:19am May 3, 2011 11:19am
wow, 100% i did not know that. back then i did not even know what trading is lol.
  • #12,334
  • May 3, 2011 12:19pm May 3, 2011 12:19pm
Quoting Razorman
the margin hikes are absolutely ridiculous.
Why exactly is it ridiculous. You put up margin on a future contract in case you are wrong (i.e. bet the wrong way). Lets look at some history:

The June 2010 futures contract closed at $18.6/oz
So, the contract's notional value is $93,000 and the margin was $6750 (7.25% of the contract's value).

In Jan 2011, Silver closed at $27/oz, for a contract value of $135,000 and they required $11,137 in initial margin (~8% of the contract value).

They've just raised it to $14,512, but today, the contract is worth $216,000! So actually, that's only 6.7% of the notional value. So, the margin requirement is actually LOWER on a percentage basis than it was over the last year and half...

For a contract that can easily change 5% in a day, these don't seem like ridiculous numbers to me. IMHO
  • #12,335
  • May 3, 2011 3:34pm May 3, 2011 3:34pm
Quoting Razorman
wow, 100% i did not know that. back then i did not even know what trading is lol.
I actually asked Lamar Hunt about that once in the late 90's. He winced, even after all of that time.
  • #12,336
  • May 4, 2011 9:24am May 4, 2011 9:24am
Using the SLV as a proxy for silver itself.......here we go. Today should prove pivotal.
Attached Image (click to enlarge)
Click to Enlarge Name: slv.png Size: 74 KB
  • #12,337
  • May 4, 2011 12:42pm May 4, 2011 12:42pm
looks like a good place to take a long.
  • #12,338
  • May 4, 2011 3:09pm May 4, 2011 3:09pm
USDJPY broke down through 80.50 today and now I'm seriously considering putting on a long term long position knowing the G-7 is behind me.
  • #12,339
  • May 4, 2011 3:59pm May 4, 2011 3:59pm
Quoting o990l6mh
USDJPY broke down through 80.50 today and now I'm seriously considering putting on a long term long position knowing the G-7 is behind me.
I know. I was thinking the same thing as well.......If you look at the last time we were at these levels, it took a few months to get things going. I would like to see it break down below the 80 mark as I think the banks are below there waiting......we will see.
  • #12,340
  • May 4, 2011 4:00pm May 4, 2011 4:00pm
Quoting Razorman
looks like a good place to take a long.

Last time I looked, I think we were closing below that trend line......I would want to see it prove itself first personally.
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