“Woe to the land whose king is a child and whose leaders are already drunk in the morning. Happy the land whose king is a nobleman, and whose leaders work hard before they feast and drink, and then only to strengthen themselves for the tasks ahead”. (Eccl 10: 16-17)


"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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Thursday, April 21, 2011

Silver - 30 Minute chart

Here is a 30 minute chart of Silver noting the current support and resistance levels at this time.

A push through the region near $46.25 should let it run towards $47. A breach of $45.50 would imply a drop towards $45.10.


14 comments:

  1. Do you silver miners sell silver? I went back and listend to a couple miners conference calls that I own and they are unhedged and producing silver on averager around $5 an ounce. How are they not making money? It seems as the stocks are actually going down while the price of silver explodes. Are they going to go up if silver corrects?

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  2. I gave this a run, but just got stopped out. Like you say Dan, you need to be sooo careful with risk at this time and the kind of swings we could see at any moment.

    Hey, I still have cold beer, and physical

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  4. Thinking the same as Crusso33. Looks like a lose-lose situation to invest in miners. On days like these when spot is up 3,5 pct miners drag and when spot silver has a down day they get killed.

    Why invest in miners when shorts are so clearly in command?

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  5. Are they? What if money is simply elsewhere? in oil and metals? That is leaving the door open for mom and pop investors to invest in these miners at huge discount. Just a case of when they awaken to this.

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  6. I believe miners are so ridiculous under valued but it doesnt help much when I watch them fall on these shiny days.

    Will they catch up at some point and what does it take for the shorts to cover their bets and set the miners free?

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  7. Here's the thing...I look at the short interest per Traders Dan's Theory of a ratio trade and I don't see huge short interest. For instance SLW is only 2 percent...some like CDE and HL are as much as 8, but most are between 2-4 percent short interest, which is lower than the short interest on the S & P....so how shorted are they really?

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  8. @ Crussa33,

    Does the short interest reflect the calls sold, or the naked shares short? Also, if you were to short it intraday for ...say all day... and then cover at the close, will it show?

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  9. I checked options..there is nothing weird that I can tell. If they were covering at the close the stocks would rise at the close and they fall into every close and end on their lows. I have no idea how to check if it's naked or not but I believe the short interest reflects naked...can someone answer this?

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  10. Those of us that are invested in and following gold and silver are watching the very rapid decline of the West.

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  11. Excellent analysis as always Dan!

    www.silverdoctors.com

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  12. Okay, I re-entered at 46.30 and got back my losses and just closed for a nice days' work.

    Hey Dan, thanks for the days' analysis.

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  13. Thanks Dan ! Here I can see that you did excellent analysis. I just give single look to chart and understood everything . Thank you for such a clear description regarding silver :-)

    Vintage rings

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