I watched as the spot price dropped to 26 something an oz and wanted to buy. My bullion dealers webpage stopped at 29.08 us / oz and froze there. I didnt purchase thinking there was something wrong w/ the site and didnt want to pay more than I had to. The sites spot price stayed at 29.08 and didnt change til the world spot price gained over their spot price. How FN annoying.
just wondering everyone, when u make a prec. metals purchase over 10,000 dollars does it always have to be reported to the govt.? does anyone know if the irs or somebody takes any action on that ever?Bro. john thank for your vids. !!
Hey Brother J. I was in gainsville's retail store on Saturday to pick up a few ounces of silver. I couldn't stand it any longer. I'm glad I got there when they opened up. They were covered up with customers wanting to but any silver they could get. The store doesn't usually have a great selection, as their biggest businesss is online.But this time, they had a good selection. I scored some silver eagles, and a few maple leafs. I didn't care about the preminum. keep stackin.
BrotherJohn, do you think it's likely that we'll have a monster crash in the markets that will take everything down including metals even lower than the low from Sunday night? This kind of deflationary event is frequently mentioned by Mike Maloney, and I just saw a TA video by MrThriveAndSurvive that also said as much, quoting a possible low to 19. And really how else does JP morgan get out from under their shorts?
@scottj719 Sott, I think that danger still exists today. The deflationary down wave has been upon us since after Fed disappointed asset markets and EU's troubles. But for now, we are getting a snap back rally in PMs; hope it lasts and proves to be that the $30 Silver support held. As such, we may not be out of the woods yet, but we will see. Traders longing this "V bottom" latest PM rally must use care and be vigilant(note to self!). Signed: Evil Trader (as I was called by endlessmountain)
@PiroozAzDirooz Is the crash of 2008 still a pretty good comparison here when analyzing what things could look like both in markets and in metals? It seems like if a market crash is coming (in the big way that most think) it would almost certainly drag the metals down to new lows, unless there was a simultaneous flight to safe havens due to a currency scare. The question is, will there be anything to purchase when the price goes that low?
@scottj719 Those are good questions, but it seems to me that we may still be going to 1010 on the S&P in the next leg down short term; as for PMs, they are having a snap rally right now worth trading for a few points.
As for 2008 comparison, most experts I have read say it is similar, only worse this time around.
Jim Rogers, for example, said yesterday: "At least in 2008, governments were there to bail the banks out."
@PiroozAzDirooz Silver went up up up, them down with a crash due to margin hikes in May but w/o any market crash. Then we just saw it go down significantly due to a single margin hike AND a big downturn in markets. At this point I think it's wise to see if one can build some cash for whatever comes, whether it's banking collapse/bank holiday, emergencies , or a probable 2008/2009 metals price when this whole thing comes down.
@scottj719 Scott, having readycash at hand is always a good idea; you never know when you may need it.,Esp in these uncertain &tumultuous times. I am not a destructionist without cause, I don't have a grudge against USD. Anarchy without sound economic and financial solutions is hardly the answer for our current woes. You won't want to live in a world where USD goes to zero and Yuan replaces it as chaos reigns. We have too many enemies waiting at the gates to jump us. China to name only 1.
@assilvertried7x I couldn't agree more on this aspect. Brother John's alert of the potential plunge as stated by Clive Maund last week saved my hide in my largest longtrading position! I got out of the way of the roller steam train a day before the plunge from $40. Thanks again Brother John! Signed: --The Evil Trader
I placed an order at my mint int he uk ...was the best price i'd seen in about 8 months ! when i called the next day they wouldnt honour the price !!!! ....so out of order !
Dear Brother John, . I have a 2 part question if you have the time. WHY do margins exist at different levels? I saw a chart showing that some bigger members have less of a margin requirement than say retail "customers". (I forget the actual terminology at the moment) 2 If margins are required for some how do other players get to place naked shorts? Am I in the weeds and not understanding the basics or do we have rule derivatives, too? Also, how do I subscribe to your channel that you refer to?
So if the game is to suppress paper price by increasing margin requirements and you claim that at a certain requirement level everybody will switch to physical, then how will price reach $100 if it is based on paper trading and everybody has fled the paper market?Just trying to figure out how the end game will work.
Brother John, I think Marc Faber made a comment today that PMs will keep going into strong hands. So, the margin hikes are in fact helping that trend which is positive for prices going forward overall.
Brother John, you did everyone a huge service by alerting all to the recent plunge in advance and bringing it to everyone's attention then. Other YouTubers have to learn from your foresight and logical approach. May be that's why they get 500 hits and you get 8,000. We also appreciate your transparency in your positions you hold. Another obsessed and paranoid indivdual on YouTube called what you rightly did in hedging your positions, saying "trading is evil"! Let the cavemen die of envy.
LumpSumBoy, I was referring to the other night when GV was shut down for maintenance (per BrotherJohns video above). Really, my question is about Tulving. Looking for people who have used Tulving and if they have integrity to send large amounts of money to?
@BrotherJohnF What do you make of the news that they found the "SS Gairsoppa with over 200 tons of silver?" The timing seems very suspicious to me....
I just went on Apmex to look at those 1oz somalia african coins but they were all sold out. :=( just asked my local dealer (in Germany) and they only had a few left so i managed to reserve them... :=)
@binky4647 I paid a premium for the 1oz Dragon based on Johns thoughts in an earlier video, guess what even during the recent dip they are still holding their value and going for more than i paid.
this weekend on ebay you could get no deals on silver, i was looking at 34 or so and the spot closed at 30.93, usually i find stuff under 39 with spot over 40. so to me it only went down $5/oz. so i went to the coinstore and bought a few pounds of junk. .50spot....
tapped out of federal reserve notes....before the cash i was going to buy normal amount anyway ? first of the month is my silver payday ...i am sad i missed the silver clearance ?
Why doesnt Apmex just sell to Ebay? It seems like it might not be worth it to use ebay to sell coins or something because a smart company like Apmex would never leave money on the table if they didnt have to.
my friend works at perth mint. i rang her to see how things were. they have had a huge run on silver in the last 6months. they only have limited bullion bars available eg 1kg bars. i asked are they short on silver and she said no they just can't mint it quick enough.
Don't worry about all the new silver coins out there they will always be making more and more of that overrated trash, instead buy a 15 or 20LB sterling tea service tray and all or a huge 12 setting of sterling cutlery and then you got something substantial for a while.
Maybe you can buy some of the coins from that sunken ship of the coast of Ireland next year when they recover it, those are real collectible silver coins not those new crappy coins your buying off the net.
they don't let you trade the bottom- part of this is that you can't hedge either. Another way they set that up was, to outlaw margin trading metals on forex accounts. I used to buy to lock in a price for physical and also hedge my physical positions.
Dammit! Only managed to get another 20 ounces at these prices. By the time I get some more cash together they will be back up :( Anyone think I should sell my PC to get another 20 ounces?
You have the best video series on silver for sure but your $100 by end of year is just way to bullish,unless your trying to con us cause you're getting ready to position yourself to short the market ...lol
If silver is $100 by the end of the year, I'll melt down all my physical and begin minting BroJF commemorative coins. At 50% premium, of course. I kid. But seriously, get your AGQ kids.
Great analysis and insights, per usual. I agree the CME is making it easier for people to shun their futures contracts and just buy physical. They hiked the margins while the price was going down, very strange. Silver is special, not just any old commodity and 'they" know it. For people that don't understand the difference between paper and physical, of whom I was one 2 yrs ago, school will soon be in session.
Excellent. I agree with your point about when the bottom occurs, however there is still lots of product available. I remember trying to buy silver in 2008, and it was difficult to find anything. The fact that apmex still has those elephants sort of reinforces the point that there is still variety available, though not very much. I'm not rich, but I might buy 200 of those. If there is another dip to $26, all the good selection will dry up quick. I think the floor was established there.
my projection for 100 is no longer in play and more probable for early 2012.
That 26.10 is the bottom I got today and that was only a few cents from 61.8% fibonacci and the hit of that nature shows us the washout signs. I think if it tests 26 again it will pass the test.
I was able to order online through apmex and lock in price in evening.But when prices dropped further below 28 ,fees changed and algorithms distorted pricing ( 500 eagles for 350K) as i was exploring website to see bulk inventory.Alert Me and Out of stock were placed on bulk items right away. I have a hard time believing that you could buy below that spot price of 28.00. Tulving did not answer phone.
I seriously think you've got your cart before your horse vis-a-vis your conspiracy theories re. margin hikes CAUSING increased volatility. CME has raised margin levels to relatively high levels now because expected future volatility is up substantially. Check out the volume and price action today of SLV $20 Nov. puts. They're up 18% today even though silver was also up today. Smart money is predicting a crash to below $20. Speculators are gonna get burned bad. CME is just protecting themselves.
@SIERRAHPBT Please explain what you mean by "bear trap". Smart money = institutional investors with more information than your average street investor (and the kind of people who trade coins on ebay). Most people don't even know the difference btwn. a call and a put option: it's educated rich folks who buy and sell derivatives. Why are those people gonna load up on puts for Nov. that will be worthless unless silver crashes hard again? Really... please explain the logic behind your argument.
@leathersword How do you know its smart money? If I knew silver was going to go down further I would buy a 25.00 put not a 20.00. The "smart money had their heads handed to them when gold ran up to 1900.00 the first time. Just because you are educated and rich does not mean you do not make mistakes. Lower prices brings more demand. All this crash was is manipulation. The dollar barely moved up. OI is hardly going down. This is JPM trying to unload its short position before position limits.
@SIERRAHPBT yes, and HSBC was let go from the lawsuit which now has names, specific trades and traders, along with a long list of accusations that cannot be allowed to rest. At the very least, JPMC should counter-sue for liable, but they'll need to answer tough questions to clear the names of Ms Masters, Mr Gotlieb, etc...
@davematherly How can JPM counter-sue if they are guilty which w eknow they are? Counter-sue for getting ratted on? or for someone telling the truth? Sue for liable? HSBC knows what happened. If they have the goods on JPM it will be tough to counter-sue. You know as well as I do they are guilty as sin.
@SIERRAHPBT "Smart money" understands we are in a long term secular bull market for commodities, but that right now, we are heading into a period of deflation where all asset prices (including PMs) will be depressed, and the US dollar will (briefly) have new life pumped into it. The next week or so may see oil and commodities drift higher, and the dollar lower - but that'll be a classic bull-trap. And "Smart money" doesn't discount elliot wave theory as meaningless, as BroJohn did the other day.
@leathersword This sell off was not because of elliot wave. Many times elliot wave predicted crashes that never came. Yes I have read Prechters books. All this is, is to let one large manipulative bank out of its short position. JPM knows it is playing with fire now. To much demand. In this sell off you show me where all these silver owners are lined up selling thier coins. Why are the coin shops selling out? can it go to 20? sure but not for the reason you think. deflation? we will see.
@SIERRAHPBT It's my understanding that industrial use comprises aprox. 60% of the silver market. Of the other 40, most of it is "paper". SLV, etc. The folks stockpiling junk coins for the Mad Max future future are a small percentage of the market. An economic depression is going to lead to deflation, another liquidity crisis, and hoarding of US dollars. Silver owners aren't "lining up to sell" because they're thinking long term disregarding short term. Short term: silver's going down. Hard.
@leathersword what ever you say BOB. Silver may still go down but it is not because of deflation. With silver going down like it has in the past few days the dollar(usdx) should be over 90... why did it only barely break 78?You grab your dollars. The manipulation in silver in which there is a class action suit agains the manipulator, has created a shortage. This sell off is to extracate the big short. Not deflation and all the rubish. Wavers can beat on their chests, but they are wrong.
@leathersword Institutional investors? Really? Buying silver? At today's prices 1 billion ounces is 33 billion dollars, which is an entire year's worth of mining. Talk about a camel passing through the eye of a needle. But if you say you mean them piling into paper silver, then I guess that money is not so "smart" after all? Get it?
@BrotherJohnF wavers don't get it. they do not understand that JP is trying desperatly to extricate themselves from their short position before silver blasts off. The market has done what Prechter says was going to happen so they feel a little lively. They will gain more confidence as we have this relief rally to 36/ then another wave of selling down to 20.00 or so. Then after JPM has extricated themselves as much as possible, they will go long. the Wavers will miss the boat again and say WTF!
@BrotherJohnF wavers don't get it. they do not understand that JP is trying desperatly to extricate themselves from their short position before silver blasts off. The market has done what Prechter says was going to happen so they feel a little lively. They will gain more confidence as we have this relief rally to 36/ then another wave of selling down to 20.00 or so. Then after JPM has extricated themselves as much as possible, they will go long. the Wavers will miss the boat again and say WTF!
id wait ...JPM can take silver down more ..perfit time to exit its shorts
gasdorf 5 months ago
what do you think about the dragon
HornetUK1 5 months ago
I watched as the spot price dropped to 26 something an oz and wanted to buy. My bullion dealers webpage stopped at 29.08 us / oz and froze there. I didnt purchase thinking there was something wrong w/ the site and didnt want to pay more than I had to. The sites spot price stayed at 29.08 and didnt change til the world spot price gained over their spot price. How FN annoying.
KiTTeNChaoSS 5 months ago
just wondering everyone, when u make a prec. metals purchase over 10,000 dollars does it always have to be reported to the govt.? does anyone know if the irs or somebody takes any action on that ever?Bro. john thank for your vids. !!
freddrums2002 5 months ago
@freddrums2002 yup
S1lverwing 5 months ago
They are sold out on the Elephants as of now.
OneStirringThePot 5 months ago
Hey Brother J. I was in gainsville's retail store on Saturday to pick up a few ounces of silver. I couldn't stand it any longer. I'm glad I got there when they opened up. They were covered up with customers wanting to but any silver they could get. The store doesn't usually have a great selection, as their biggest businesss is online.But this time, they had a good selection. I scored some silver eagles, and a few maple leafs. I didn't care about the preminum. keep stackin.
thaboomer53 5 months ago
BrotherJohn, do you think it's likely that we'll have a monster crash in the markets that will take everything down including metals even lower than the low from Sunday night? This kind of deflationary event is frequently mentioned by Mike Maloney, and I just saw a TA video by MrThriveAndSurvive that also said as much, quoting a possible low to 19. And really how else does JP morgan get out from under their shorts?
scottj719 5 months ago
@scottj719 Sott, I think that danger still exists today. The deflationary down wave has been upon us since after Fed disappointed asset markets and EU's troubles. But for now, we are getting a snap back rally in PMs; hope it lasts and proves to be that the $30 Silver support held. As such, we may not be out of the woods yet, but we will see. Traders longing this "V bottom" latest PM rally must use care and be vigilant(note to self!). Signed: Evil Trader (as I was called by endlessmountain)
PiroozAzDirooz 5 months ago
@PiroozAzDirooz Is the crash of 2008 still a pretty good comparison here when analyzing what things could look like both in markets and in metals? It seems like if a market crash is coming (in the big way that most think) it would almost certainly drag the metals down to new lows, unless there was a simultaneous flight to safe havens due to a currency scare. The question is, will there be anything to purchase when the price goes that low?
scottj719 5 months ago
@scottj719 Those are good questions, but it seems to me that we may still be going to 1010 on the S&P in the next leg down short term; as for PMs, they are having a snap rally right now worth trading for a few points.
As for 2008 comparison, most experts I have read say it is similar, only worse this time around.
Jim Rogers, for example, said yesterday: "At least in 2008, governments were there to bail the banks out."
PiroozAzDirooz 5 months ago
@PiroozAzDirooz Silver went up up up, them down with a crash due to margin hikes in May but w/o any market crash. Then we just saw it go down significantly due to a single margin hike AND a big downturn in markets. At this point I think it's wise to see if one can build some cash for whatever comes, whether it's banking collapse/bank holiday, emergencies , or a probable 2008/2009 metals price when this whole thing comes down.
scottj719 5 months ago
@scottj719 Scott, having readycash at hand is always a good idea; you never know when you may need it.,Esp in these uncertain &tumultuous times. I am not a destructionist without cause, I don't have a grudge against USD. Anarchy without sound economic and financial solutions is hardly the answer for our current woes. You won't want to live in a world where USD goes to zero and Yuan replaces it as chaos reigns. We have too many enemies waiting at the gates to jump us. China to name only 1.
PiroozAzDirooz 5 months ago 2
@PiroozAzDirooz your wrong. china does not want the USD to fall. actually they do their best to bring it UP
ShikamaruTKD 5 months ago
@assilvertried7x I couldn't agree more on this aspect. Brother John's alert of the potential plunge as stated by Clive Maund last week saved my hide in my largest longtrading position! I got out of the way of the roller steam train a day before the plunge from $40. Thanks again Brother John! Signed: --The Evil Trader
PiroozAzDirooz 5 months ago
I placed an order at my mint int he uk ...was the best price i'd seen in about 8 months ! when i called the next day they wouldnt honour the price !!!! ....so out of order !
onisuk 5 months ago
Dear Brother John, . I have a 2 part question if you have the time. WHY do margins exist at different levels? I saw a chart showing that some bigger members have less of a margin requirement than say retail "customers". (I forget the actual terminology at the moment) 2 If margins are required for some how do other players get to place naked shorts? Am I in the weeds and not understanding the basics or do we have rule derivatives, too? Also, how do I subscribe to your channel that you refer to?
F3YAW 5 months ago
So if the game is to suppress paper price by increasing margin requirements and you claim that at a certain requirement level everybody will switch to physical, then how will price reach $100 if it is based on paper trading and everybody has fled the paper market?Just trying to figure out how the end game will work.
tarsi 5 months ago
Brother John, I think Marc Faber made a comment today that PMs will keep going into strong hands. So, the margin hikes are in fact helping that trend which is positive for prices going forward overall.
PiroozAzDirooz 5 months ago 5
I recommend Provident Metals. Low freight and speedy delivery
idahosilverspelunker 5 months ago
Spot on, BrotherJohnF. Spot on.
ProfDeth 5 months ago
Brother John, you did everyone a huge service by alerting all to the recent plunge in advance and bringing it to everyone's attention then. Other YouTubers have to learn from your foresight and logical approach. May be that's why they get 500 hits and you get 8,000. We also appreciate your transparency in your positions you hold. Another obsessed and paranoid indivdual on YouTube called what you rightly did in hedging your positions, saying "trading is evil"! Let the cavemen die of envy.
PiroozAzDirooz 5 months ago
Excellent analysis, thanks Johnny. Bought more argent and feeling good. Cheers!
mostlymichaelcanada 5 months ago
I use to use apmex. I have found Westminster Mint premium to be lower. check them out let me know what you think. I bought some at 30
ThirdProverb 5 months ago
The analysis is obscure to the average Joe about margin. Thanks.
thetimman00 5 months ago
Thank you very mu for the info
omascho 5 months ago
LumpSumBoy, I was referring to the other night when GV was shut down for maintenance (per BrotherJohns video above). Really, my question is about Tulving. Looking for people who have used Tulving and if they have integrity to send large amounts of money to?
ThePhotogGuy 5 months ago
@ThePhotogGuy I will say that from everything I have heard that Tulving has a high reputation for integrity
BrotherJohnF 5 months ago
Gainesville was shut down, but Tulving was still taking orders. BrotherJohn, do you trust Tulving? Are they reliable and trustworthy?
ThePhotogGuy 5 months ago
@ThePhotogGuy I'm on GV right now and about to get some phyzzy..Try again may be?
LumpSumBoy 5 months ago
@ThePhotogGuy I like Tulving, but his minimums are too high for me. I'm just a little guy :-)
BrotherJohnF 5 months ago
@BrotherJohnF What do you make of the news that they found the "SS Gairsoppa with over 200 tons of silver?" The timing seems very suspicious to me....
wyoraider86 5 months ago
I just went on Apmex to look at those 1oz somalia african coins but they were all sold out. :=( just asked my local dealer (in Germany) and they only had a few left so i managed to reserve them... :=)
geordiejp2009 5 months ago
@peymaania I agree. 3 dollars per gram
BrotherJohnF 5 months ago
This has been flagged as spam show
Westminster Mint is one of the few dealers that still has silver bullion available. The other dealers are running out of physical supply.
Lengarces 5 months ago
i liked the fact when gainesville closed, it was for improvements to our 'shopping experience' lol
madbob73 5 months ago
@binky4647 I paid a premium for the 1oz Dragon based on Johns thoughts in an earlier video, guess what even during the recent dip they are still holding their value and going for more than i paid.
madbob73 5 months ago
Comment removed
binky4647 5 months ago
"when the sellers shut down it is time to buy" When Gainesville closed I knew the price bottomed out.
tgpdlp1 5 months ago
spot in CAD 34.02 4:19 PST AM
2011rcm 5 months ago
good luck getting any coins here in Australia for under $38 au, none of our boys were open to sell when it went below $30.
bigrsoul 5 months ago
Comment removed
binky4647 5 months ago
you should have held that call agq is 128 right now and going to rocket higher
kingrichard24k 5 months ago
@kingrichard24k Yes, you are right. But one day those computer digits of profit will simply vaporize
BrotherJohnF 5 months ago
Watch this vid folks: watch?v=aC19fEqR5bA
smasila 5 months ago
I was up late, watched it hit 26- figured that was the floor- didn't buy- thinking about gold now-stacking cash-
hozayamz 5 months ago
Loved the data re' margins, very interesting.
ShillBasher 5 months ago
this weekend on ebay you could get no deals on silver, i was looking at 34 or so and the spot closed at 30.93, usually i find stuff under 39 with spot over 40. so to me it only went down $5/oz. so i went to the coinstore and bought a few pounds of junk. .50spot....
bodyheals 5 months ago in playlist first watch this
good call on those somali coins, i bought A load of koala Berlin limited edition privis at 28
breakinmedia 5 months ago
tapped out of federal reserve notes....before the cash i was going to buy normal amount anyway ? first of the month is my silver payday ...i am sad i missed the silver clearance ?
gasdorf 5 months ago
Why doesnt Apmex just sell to Ebay? It seems like it might not be worth it to use ebay to sell coins or something because a smart company like Apmex would never leave money on the table if they didnt have to.
MrPointspread 5 months ago
my friend works at perth mint. i rang her to see how things were. they have had a huge run on silver in the last 6months. they only have limited bullion bars available eg 1kg bars. i asked are they short on silver and she said no they just can't mint it quick enough.
tex028 5 months ago
17 minutes of home shopping advice? how about ya just head to the local coin shop.............
blootoober 5 months ago
Don't worry about all the new silver coins out there they will always be making more and more of that overrated trash, instead buy a 15 or 20LB sterling tea service tray and all or a huge 12 setting of sterling cutlery and then you got something substantial for a while.
Maybe you can buy some of the coins from that sunken ship of the coast of Ireland next year when they recover it, those are real collectible silver coins not those new crappy coins your buying off the net.
TheSilverguy79 5 months ago
they don't let you trade the bottom- part of this is that you can't hedge either. Another way they set that up was, to outlaw margin trading metals on forex accounts. I used to buy to lock in a price for physical and also hedge my physical positions.
MrPhajlee 5 months ago
¡Great!
greatwf 5 months ago
1 hour after you posted, all the Somalian 1 ounce Silver Elephants were sold out. They sold out before my order processed! :-(
drchiodo 5 months ago
Hey, BrotherJohnF, we both bought at the same time. I pulled the trigger at 28 on the way down myself.
inibo 5 months ago
Providentmetals raised their premiums on their junk silver (90%) from .09cents to .89cents
dispersingweight 5 months ago
really? how do you figure?
SIERRAHPBT 5 months ago
The Elephant coin that you mentioned has already sold out on Apmex fyi:(
slhines7 5 months ago
Comment removed
cowboyswami 5 months ago
tehehe- "hidden bottoms"
but srsly, thanks again BroJo :D
octapotamus 5 months ago
Great video! Id like to order a few of those coins, but Apmex has outrageous shipping charges for small orders.
mikeman715 5 months ago
Man oh man, you are so tempting me to buy more coins but I am sadly tapped out of fiat cash!
slhines7 5 months ago
Dammit! Only managed to get another 20 ounces at these prices. By the time I get some more cash together they will be back up :( Anyone think I should sell my PC to get another 20 ounces?
7Losses 5 months ago
Extremely informative ! Thank You
prepper1024 5 months ago
This has been flagged as spam show
You have the best video series on silver for sure but your $100 by end of year is just way to bullish,unless your trying to con us cause you're getting ready to position yourself to short the market ...lol
Oceanwest1 5 months ago
If silver is $100 by the end of the year, I'll melt down all my physical and begin minting BroJF commemorative coins. At 50% premium, of course. I kid. But seriously, get your AGQ kids.
barnz008 5 months ago
hmmm...
correction, "smart people" who don't want to throw in at a 80 or 90% margin will rather buy physical.
SOME people will always trust the COMEX because they don't know there's nothing in the vault or don't care.
Otherwise, I think you're correct! :)
davematherly 5 months ago
Great analysis and insights, per usual. I agree the CME is making it easier for people to shun their futures contracts and just buy physical. They hiked the margins while the price was going down, very strange. Silver is special, not just any old commodity and 'they" know it. For people that don't understand the difference between paper and physical, of whom I was one 2 yrs ago, school will soon be in session.
Thanks for schooling me early.
NAVYGOLDEIGHTFOUR 5 months ago
Will WW2 shipwreck found carrying 219 TONS of silver have bearing on silver prices?
aboutsoul19 5 months ago 4
@aboutsoul19 Maybe for a month or so.
7Losses 5 months ago
@aboutsoul19 LOL... NO....that is a drop in the ocean compared to what is sold naked short.
SIERRAHPBT 5 months ago
@aboutsoul19 thats not much silver on a worldwide scale
210 million dollars
solojam 5 months ago
I have the elephants...they are a nice coin.
73cupcake 5 months ago
Excellent. I agree with your point about when the bottom occurs, however there is still lots of product available. I remember trying to buy silver in 2008, and it was difficult to find anything. The fact that apmex still has those elephants sort of reinforces the point that there is still variety available, though not very much. I'm not rich, but I might buy 200 of those. If there is another dip to $26, all the good selection will dry up quick. I think the floor was established there.
puapake 5 months ago
my projection for 100 is no longer in play and more probable for early 2012.
That 26.10 is the bottom I got today and that was only a few cents from 61.8% fibonacci and the hit of that nature shows us the washout signs. I think if it tests 26 again it will pass the test.
endlessmountain 5 months ago
I was able to order online through apmex and lock in price in evening.But when prices dropped further below 28 ,fees changed and algorithms distorted pricing ( 500 eagles for 350K) as i was exploring website to see bulk inventory.Alert Me and Out of stock were placed on bulk items right away. I have a hard time believing that you could buy below that spot price of 28.00. Tulving did not answer phone.
driller62869 5 months ago
Good calls on the options and congratulations on buying really close to the bottom.
penguinistas 5 months ago
excellent.. thanks John.
SIERRAHPBT 5 months ago
what happens when silver is all gone?
TheCamperg 5 months ago
CME requirements rising to the physical. Great Point!
stuzapusa 5 months ago
I seriously think you've got your cart before your horse vis-a-vis your conspiracy theories re. margin hikes CAUSING increased volatility. CME has raised margin levels to relatively high levels now because expected future volatility is up substantially. Check out the volume and price action today of SLV $20 Nov. puts. They're up 18% today even though silver was also up today. Smart money is predicting a crash to below $20. Speculators are gonna get burned bad. CME is just protecting themselves.
leathersword 5 months ago
@leathersword smart money... ever hear of a bear trap?
SIERRAHPBT 5 months ago
@SIERRAHPBT Please explain what you mean by "bear trap". Smart money = institutional investors with more information than your average street investor (and the kind of people who trade coins on ebay). Most people don't even know the difference btwn. a call and a put option: it's educated rich folks who buy and sell derivatives. Why are those people gonna load up on puts for Nov. that will be worthless unless silver crashes hard again? Really... please explain the logic behind your argument.
leathersword 5 months ago
@leathersword How do you know its smart money? If I knew silver was going to go down further I would buy a 25.00 put not a 20.00. The "smart money had their heads handed to them when gold ran up to 1900.00 the first time. Just because you are educated and rich does not mean you do not make mistakes. Lower prices brings more demand. All this crash was is manipulation. The dollar barely moved up. OI is hardly going down. This is JPM trying to unload its short position before position limits.
SIERRAHPBT 5 months ago
@SIERRAHPBT yes, and HSBC was let go from the lawsuit which now has names, specific trades and traders, along with a long list of accusations that cannot be allowed to rest. At the very least, JPMC should counter-sue for liable, but they'll need to answer tough questions to clear the names of Ms Masters, Mr Gotlieb, etc...
They may have just dumped the evidence...?
davematherly 5 months ago
@davematherly How can JPM counter-sue if they are guilty which w eknow they are? Counter-sue for getting ratted on? or for someone telling the truth? Sue for liable? HSBC knows what happened. If they have the goods on JPM it will be tough to counter-sue. You know as well as I do they are guilty as sin.
SIERRAHPBT 5 months ago
@SIERRAHPBT
They won't but in the eyes of others not knowing what we know, they'd be expected to.
The fact that they won't/can't iswhat will give this all away. They'll try to settle but the GATA guys shouldn't take it.
davematherly 5 months ago
@SIERRAHPBT "Smart money" understands we are in a long term secular bull market for commodities, but that right now, we are heading into a period of deflation where all asset prices (including PMs) will be depressed, and the US dollar will (briefly) have new life pumped into it. The next week or so may see oil and commodities drift higher, and the dollar lower - but that'll be a classic bull-trap. And "Smart money" doesn't discount elliot wave theory as meaningless, as BroJohn did the other day.
leathersword 5 months ago
@leathersword This sell off was not because of elliot wave. Many times elliot wave predicted crashes that never came. Yes I have read Prechters books. All this is, is to let one large manipulative bank out of its short position. JPM knows it is playing with fire now. To much demand. In this sell off you show me where all these silver owners are lined up selling thier coins. Why are the coin shops selling out? can it go to 20? sure but not for the reason you think. deflation? we will see.
SIERRAHPBT 5 months ago
@SIERRAHPBT It's my understanding that industrial use comprises aprox. 60% of the silver market. Of the other 40, most of it is "paper". SLV, etc. The folks stockpiling junk coins for the Mad Max future future are a small percentage of the market. An economic depression is going to lead to deflation, another liquidity crisis, and hoarding of US dollars. Silver owners aren't "lining up to sell" because they're thinking long term disregarding short term. Short term: silver's going down. Hard.
leathersword 5 months ago
@leathersword what ever you say BOB. Silver may still go down but it is not because of deflation. With silver going down like it has in the past few days the dollar(usdx) should be over 90... why did it only barely break 78?You grab your dollars. The manipulation in silver in which there is a class action suit agains the manipulator, has created a shortage. This sell off is to extracate the big short. Not deflation and all the rubish. Wavers can beat on their chests, but they are wrong.
SIERRAHPBT 5 months ago
@SIERRAHPBT Excellent SIERRAHPBT. I am going to have to make you second in command ;-)
BrotherJohnF 5 months ago
@leathersword Institutional investors? Really? Buying silver? At today's prices 1 billion ounces is 33 billion dollars, which is an entire year's worth of mining. Talk about a camel passing through the eye of a needle. But if you say you mean them piling into paper silver, then I guess that money is not so "smart" after all? Get it?
BrotherJohnF 5 months ago
@BrotherJohnF wavers don't get it. they do not understand that JP is trying desperatly to extricate themselves from their short position before silver blasts off. The market has done what Prechter says was going to happen so they feel a little lively. They will gain more confidence as we have this relief rally to 36/ then another wave of selling down to 20.00 or so. Then after JPM has extricated themselves as much as possible, they will go long. the Wavers will miss the boat again and say WTF!
SIERRAHPBT 5 months ago
This has been flagged as spam show
@BrotherJohnF wavers don't get it. they do not understand that JP is trying desperatly to extricate themselves from their short position before silver blasts off. The market has done what Prechter says was going to happen so they feel a little lively. They will gain more confidence as we have this relief rally to 36/ then another wave of selling down to 20.00 or so. Then after JPM has extricated themselves as much as possible, they will go long. the Wavers will miss the boat again and say WTF!
SIERRAHPBT 5 months ago
Thanks!!
BYBB123 5 months ago
"When the sellers shut down, it;s time to buy," Great advice.
dowhatuwill 5 months ago
It looks like you got a good buy price. I would be lying though if I said I wasn't a little scared by these swings.
Ra6b1t 5 months ago
What a great buy and a beautiful coin. Well done.
dowhatuwill 5 months ago
Silver Rocket Ride Coming ? ... soon ? :)
TheSilverWatch 5 months ago
how much does Apmex usually charge for shipping on small purchases like 10 oz?
MaxMyrmyr 5 months ago
@MaxMyrmyr you can put your order in and it should show you how much S&H will be. I'm thinking $15 or $25 perhaps?
PandoraLeigh 5 months ago
@PandoraLeigh I did a bank wire. The s and h was 10 bucks
BrotherJohnF 5 months ago