The DEATH CREEP (no, not the President) continues as shorts pile-on at ever higher prices.. (of course, they'll eventually have some relief) but those who are slow to recognize a change of trend .. will likely feel a bit more of the pain associated with stubbornness.
bdq, the communists are dying nearly everywhere.. if China and Russia are having a bad time.. third world economies are plunging. There will be a backlash against socialism and totalitarianism just as we see the awakenings of this even in the United States. After the dust settles and I suspect it will be sooner rather than later, Pan American should be in a strong position to expand new mining operations. Just reading tea-leaves.
The problems in Argentina have quickly turned it into a symbol of the economic pressures building on developing countries, stirring fears that the trouble could spread if global demand for commodities wanes and investors look for better bets in the United States.
The peso plunged 15 percent on Jan. 22 and 23, from around 6.9 pesos to the dollar to 8 pesos, according to Bloomberg News, and has since stablized. It closed on Friday at 8 pesos to the dollar. It weakened by a total of 19 percent in January.
Many economists say that the trouble here stems from the decisions Mrs. Kirchner and her government have championed for years. She describes her politics as “national and popular,” referring to efforts to promote national interests and industry, and to put in place policies that reach out to the masses.
Generous social spending after the economic collapse, like freezing household electricity rates, has widened Argentina’s budget deficit, encouraged energy consumption and increased the country’s dependence on energy imports, eroding the central bank’s hard currency reserves. Inflation is so high that it has become a heated political issue, with economists saying it exceeded 28 percent in 2013 and officials insisting it was 10.9 percent.
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Now Mrs. Kirchner’s recent absences from Argentina’s political scene have left her without much of a public defense and fueled a debate over whether a power vacuum is emerging —
Commodity traders often refer to this as a "DEATH CREEP".. no, not the guy in the White House.. but it is a SETTING OF THE HOOK for SHORT SALES that have been picking away at numbers above $14 in PanAmerican Silver and $1,350/ounce for Gold... these shorts woke up to the realization that GOLD IS NOW BROKEN THROUGH $1,350.00 and is HEADING TO $1,425/ounce... does this mean SHORT SILVER? I think not. But, I'm not the typical American Voter.
Here's that $14.50 crowd.. stepping up to sell options and shares... it's kind of interesting. Let's see who runs out of ammo, first!
Fibonacci number derived by subtracting low number from high number and mulitplying the derivative by a Fibonacci number (prime being .618) generates valid targets that can't be drawn using simple charts (most of the time)...
Was thinking about this strange phenomena yesterday
For what it's worth: From Capital Trading Group.
SILVER MARKET FUNDAMENTALS: While the silver market showed some negative divergence with gold at times last week, the silver market has followed gold higher on what appears to be a fresh flight to quality focus. In short, anxiety over the situation in the Ukraine and the sharp declines in global equities has given the bull camp in silver some fresh spillover buying interest from the action in gold, but seeing May silver prices this morning still sitting significantly below their recent highs, while gold is poised to reach up to the highest level since last October, points to a difference between the two precious metals markets. Some trader s suggest that silver is being held back because of its industrial commodity standing , while others suggest that silver is being partially restrained by adverse currency market action.
While the silver market doesn't appear to be as overbought as the gold market and silver is actually trading moderately below the level where the COT report was marked off last week, the prospect of technical stop-loss selling in silver would seem to be rather high on any upcoming weakness. While silver has started out this week on a positive track from the Russian/Ukraine situation, the bull camp might need to see a rise above $21.74 through the US data window this morning to avoid losing bullish traction. Thick resistance is seen up at $21.74 from the underside of the late February consolidation highs. Up trend channel support from the January and February lows is seen today. down at $21.21 and that support line rises to $21.32 on Tuesday. Pushed into the market we give the bull camp the edge, but the bulls need constant Ukraine tension to forge more hard fought gains on the charts.
COMEX SILVER (MAY) 03/03/2014: Daily stochastic s turning lower from overbought levels is bearish and will tend to reinforce a downside break especially if near term support is penetrated. We must stay tuned.
Gabby, I'm convinced that it will take a seminal event .. such as a dollar that loses reserve currency status.. to change the game in a dramatic way.. there are other things, too.. and then there is the PERFECT STORM which I've come to recognize having lived on the coast of Florida, low these thirty five years. As the scenario count increases so do the odds that this gradual paper destruction will complete a HOUSE OF CARDS which become exceedingly vulnerable to a single tremor.. a single spark.. a single shift. Most will NEVER SEE IT COMING.
Sakman, $14.14 probably doesn't hold much significance yet a couple of hundred thousand shares apper to have been scooped up by those looking to buy into weak YOU MAY GET YOUR FILL, SOON!
BBQ, the world is just now figuring out that QE is a semi-permanent Treasury fixture which virtually guarantees something that Paul Volker termed as VELOCITY of the money supply. It is the one thing that up0until-now, has been absent. When it hits, things will get interesting. I was there in '79 &'80.. you won't believe the sudden shift in perception and thinking. No explanation, it just happens. Only tapper you will see is in the wash-closet.
You are smarter than I am.. I don't pick bottoms as I believe that even at $30, Pan American Silver is at a bottom.
Agenisto, yahoo is with-holding your messages. Last one I can read other than the one explaining your posting problem, is from September 4, 2013. I don't understand the censure but put nothing past the editorial police.
Sakman, here's to you getting back in at $14/share! The lower she goes the higher she rose.
Nine Dollar PanAmerican Silver shares. Probably not in the month of February.
If your great uncle has a country-side farm or unbuilt homesite near a roadway, use tupperware and/or a 5 gallon sealable can, empty driveway asphalt sealing cans are excellent.. and bury these with careful markers that will not diminish with time.. if you don't have access to semi-private property consider a state or better yet, Federal Conservancy or park-land that abutts roadway.. if you use a steel can encasing Tupperware, be sure to have 5 to 10 pounds of scrap metal, nuts and bolts to salt a 100 square foot area so as to foil metal detection.
Bqdoo, trick to coins is to buy a shrunken premium in the BEST GRADE of collectible coin FOR THE LONG TERM and balance out buy buying bullion coins (government struck) in 1oz. denominations and LESS.. a bag of $1,000 face value dimes in 90% silver is 10,000 dimes and two of these (like in 1957) will buy a premium loaf of bread. My grandfather bought a saddle at the turn of the last century for a $20 gold piece.. he pulled one like it from his pocket and said to me, (a long time ago) I can buy a better saddle today, with the same coin. Nothing fancy.. truth is truth.