"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat


Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput

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Sunday, February 20, 2011

4 Hour Silver Chart

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13 comments:

  1. JimmyTheHandFebruary 20, 2011 at 8:16 PM

    Do you think we will put in another stair step at 33.00 'ish?

    And I have a basic supply and demand question for you. If demand is high in Asia, why does the Hong Kong market very seldom (if ever) drive up the price considerably? Is it because the are mostly physical gatherers and leave the volatile paper markets to us Americans?

    Thanks again for the posts you put out!

    ReplyDelete
  2. UnknownFebruary 20, 2011 at 8:32 PM

    If we blast through 35, do you think we'll ever see 31.26 again? Looking at a silver chart and the monthly open on 3/1/1980 was 34.850 (lets round that up and say 35) so I would imagine that 35 is a pretty big resistance level.

    ReplyDelete
  3. MichaelFebruary 20, 2011 at 10:18 PM

    Why does JPM have heavy short positions in Silver Futures? Is it b/c they want to make money from large open interest in options expiring worthless? Suppressing the price to make Wall St. investments more attractive? I have been listening to Max Keiser's videos on youtube but cannot get my head around it.

    ReplyDelete
  4. hiptwistFebruary 21, 2011 at 12:21 AM

    What would happen on Friday, when silver goes limit up at some time this week until Friday? Are there any precedences?

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  5. AnonymousFebruary 21, 2011 at 4:10 AM

    I think we might need a new chart.

    33.50

    ReplyDelete
  6. Art VandelayFebruary 21, 2011 at 4:20 AM

    Wow - nice move overnight !

    ReplyDelete
  7. JimmyTheHandFebruary 21, 2011 at 6:40 AM

    Hahaha! Forget what I said about silver prices going up dramatically in the hong kong market! Serious jump over night... Though I must say the moves are usually much more muted aren't they?

    ReplyDelete
  8. BlorfFebruary 21, 2011 at 6:42 AM

    Broke right through 33.50

    ReplyDelete
  9. boricuadigm-shiftFebruary 21, 2011 at 7:07 AM

    Anyone noticed the spread between SLV and Silver spot? The usual gap has been .75c to .85 cents. The price at 10:04am os silver sport is 33.64 and SLV 31.91. Huge GAp.

    Boricuadigm-shift,

    yours Truly.

    ReplyDelete
  10. boricuadigm-shiftFebruary 21, 2011 at 7:33 AM

    Actually, Can anyone get a quote for today? It seems it hasn't opened.

    ReplyDelete
  11. flauntFebruary 21, 2011 at 7:49 AM

    U.S. markets aren't open today.

    ReplyDelete
  12. JesusfreakinCOFebruary 21, 2011 at 8:19 AM

    http://www.kitco.com/market/

    Trader Dan,
    Can you explain how limits are calculated? Is it a % of the opening price?

    TIA,
    JFC

    ReplyDelete
  13. boricuadigm-shiftFebruary 21, 2011 at 8:27 AM

    Jajaja... Ups! I'm at work. That's why I didn't notice. :-)

    ReplyDelete

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