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Silver Recovering on Hong Kong exchange

The early trading looks good for silver.
It has moved up 42 cents since the opening bell on the Hong Kong exchange already, to $26.42 in just about one hour of trading.
If this trend holds overnight, then we could see a strong showing for silver at the opening bell in NY on Monday morning.

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I'm not going to hold my

I'm not going to hold my breathe bigt. The big banks need to cover. so we will see. One thing abotu this tho, no matter where the sell off ends, this will be the last sell off.

fireant's picture

Perhaps, but there are very powerful forces at play.

One thing I think many people are missing; it isn't simply JPM. The government is desperate to keep silver down. They for sure want money to stay in Treasuries. Help may be on the way from Europe. It will pay to watch what goes on there. If their banks are getting into serious trouble, they will flock to the dollar and set back inflationary worries in the U.S. Lots of fluff will come out of the markets, including commodities.
And I stress again; government wants PMs down...make no mistake how serious that is.

Undo what Wilson did

Do you mind explaining for a newb?

Hey sierrahpbt, do you mind explaining your comment regarding "no matter where the selloff ends, it will be the last one"? Do you mean they (JP and friends) are going to lose their ability to short the market and supress the price of silver? What leads you to think it will be the last one?

Thanks again for helping me get educated.

The big 4 to 8 US banks are

The big 4 to 8 US banks are losing billions right now on short contracts under water. They are trying to cover as many shorts as possible. They know silver is going to explode because of the physical shortage they created by keeping the price of physical silver so low for so long. Ted Butler believes this will be the last "clean out". Tomoorow Butler will have a reading of the COT's and Bank participation reports. He is thinking we will see the manipulating banks trying to cover big. They have not been adding to short positions so they are using every dirty trick in the book by them and allies to get the price down.

there will be big time events just ahead. Industrial user panic, Physical metal shortages, Panic covering.
Just wait till these big banks go long instead of short to make up for losses. Then next it will be Joe and jane sixpack investor panic.

I'm watching it, just for fun.

Somebody keeps trying to push it down, but it keeps popping back. Still stuck under $26.50, and juggling around a few cents each way, every few minutes.

What a difference a g-20

What a difference a g-20 meeting makes.

SteveMT's picture

Silver sure is. So is everything else.

Metal Bid Ask
Gold $1,374.10 $1,375.10 up $8.10
Silver $26.40 $26.45 up $0.45
Platinum $1,686.00 $1,696.00 up $11.40
Palladium $682.90 $687.90 up $12.30

Updated:11/14/2010 7:49:07 PM CST

BigT - Rest easy. Silver is shiny as ever. Not sick at all.

Correct, proper, & elementally sound it is.

"Legal Tender" confuses folk about the worth of things. Rest easy.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Shells for cheese

I have traded shells for cheese.Yet at one time they became a good meal when combined.

If I disappear from a discussion please forgive me. My 24-7 business requires me to split mid-sentence to serve them. I am not ducking out, I will be back later to catch up.