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iShares Silver Trust Message Board

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  • MCROC43 MCROC43 Dec 7, 2009 8:37 AM Flag

    A beautiful selloff christmas gift

    If SLV goes under the 540DMA of $17.25 I might sell it. It has tested the 50DMA many times over the last year. I want to be in silver long run because the President and Congress have lost their minds.

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    • 'It has tested the 50DMA many times over the last year'

      Everything is now swing trades. The dollar is in a swing of 146-154 Euro in IHMO. The big boys do this so they can steal the shareholders wealth a little at a time.

      Today they have to push out 61 billion in US debt. Every huge auction has been with the dollar down and gold and silver down. The Federal debt is increasing 5.6 billion everyday. They are talking about using the TARP funds to fund employment programs. Hello there are no TARP funds. It is debt being pushed as paying for more debt. That will only add to the 5.6 billion daily deficit.

      I use to try to time the swings but I am happy just watching. Not happy watching on the down days but as long as we have such fools in Washington there will be no real improvement in the value of the dollar. The only thing the fools have going is the fact that the other central bankers are also in the race to debasing their currency. What would be interesting would be some measure of purchase power of different currencies. The problem as shown in the employment and inflation reports the government figures are funny numbers. Example: 4 weeks new claims for unemployment all higher than 455,000.
      Total job loses for the same month: 11,000. It is just impossible to figure out if they were laughing when they put the pig of an employment report together.

    • I would of sold last week rather then below $17.25. At that point I would look to add to my position and not sell it. Although the mid $15 range is not out of the question with the record COT paper short position. A snap back a some point will happen.

15.99+0.02(+0.13%)May 29 4:00 PMEDT