Is Silver Poised For Long-Overdue Technical Breakout? FMX Connect Chimes In

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Mon, 07/11/2011 - 09:23 | 1443317 espirit
espirit's picture

Massive fail of global economies, what's not to like about PM's unless you don't have them?

Mon, 07/11/2011 - 09:25 | 1443328 augie
augie's picture

I dont know about you, but i'm walking on sunshine right now.

Mon, 07/11/2011 - 09:32 | 1443355 66Sexy
66Sexy's picture

KIFS: Keep it fukcin' stupid: there's nothin' to think about here.


Silver? Never seen a more bullish case.

Stops are for wimps.

Out on the fine branches is where the sweet fruit is; not clingin' to the stump - waiting for higher prices.

Mon, 07/11/2011 - 11:27 | 1443961 Ahmeexnal
Ahmeexnal's picture

How will the feudal lords manage the starving sheeple?
History is full of examples.
When TSHTF and the sheeple are left holding the bag of worthless fiat, those holding PMs will be demonized.
Pogroms will be carried out worldwide. The MSM will actually incite the sheeple to denounce, rob, and brutalize anyone known to hold PMs.

Arable land? Sorry, people who are raising their own food are now being thrown to jail:

Mon, 07/11/2011 - 11:49 | 1444088 Kali
Kali's picture

This is outrageous, have read of other instances like this one.  Government is the enemy of the people.  Outlawing vegetables?  Fucking planners, I know a few, they are the most horrendous of fascists, usually dumb, stupid, fat, overpaid government employees who trample over people's personal property rights on a whim.  I would encourage all of you to go to this link and sign the petition.  As much as we rail against the Feds, I contend it is your local governments you need to watch.  Just as totalitarian as anything I've seen anywhere and hit you right at home.

Mon, 07/11/2011 - 12:23 | 1444226 outamyeffinway
outamyeffinway's picture

A little extreme don't you think?

Why don't you give us some of these examples of people being demonized holding PM's? Where they were denounced, robbed and brutalized?

I call bullshit. You're fearmongering. FO.

Mon, 07/11/2011 - 12:31 | 1444245 Raymond Reason
Raymond Reason's picture

I don't know about PMs.  But during the Holodomor in Ukraine, anyone saving food was prosecuted. 

Mon, 07/11/2011 - 12:35 | 1444260 augie
augie's picture


Some more "fear-mongering." The whole youtube channel is rife with it. 

Tue, 07/12/2011 - 21:40 | 1450175 MGHJFHD
MGHJFHD's picture

Hi there could I reference some of the insight from this entry if I provide a link back to your site?


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Mon, 07/11/2011 - 09:25 | 1443326 NoRestForTheWicked
NoRestForTheWicked's picture

I'm long SI, guys, so make sure you load up as well.  And tell all your friends.  Let's get this party started and run it up to $ 0.1k.

Mon, 07/11/2011 - 09:27 | 1443342 MFL8240
MFL8240's picture

Hope they reject both metals and allow for futher accunulation at lower levels.  Of course this would make sense as we are watching the world implode.  None of these charts amount to a hill of beans in real terms, longer than a few weeks.

Mon, 07/11/2011 - 09:27 | 1443343 66Sexy
66Sexy's picture

Perfect storm for silver.

Mon, 07/11/2011 - 09:28 | 1443347 Re-Discovery
Re-Discovery's picture

Massive Rejection?  Where is that catalyst?

I love technical analysis.  It' so . . . 2005.

Mon, 07/11/2011 - 21:43 | 1446235 fmxconnect
fmxconnect's picture

Lets trade today's settlement straddle expiring in 20 days.  Interested you sell it to us, adn we'll pay you if it doesn't move a prescribed amount during that time, in either direction. interested einstein. Its not technical analysis, its volatility.

Mon, 07/11/2011 - 21:44 | 1446237 fmxconnect
fmxconnect's picture


Mon, 07/11/2011 - 09:29 | 1443351 coppertop
coppertop's picture

silver is not gold

Mon, 07/11/2011 - 09:36 | 1443373 Sudden Debt
Sudden Debt's picture

And my foot isn't your ass, but when they meet they form the perfect combination.


Mon, 07/11/2011 - 10:03 | 1443458 francis_sawyer
francis_sawyer's picture

..."in order to form a more perfect union" (no doubt)

Mon, 07/11/2011 - 09:42 | 1443393 tmosley
tmosley's picture

You're right, it isn't.  Unlike gold, which is money, silver is both money AND a highly undersupplied over demanded industrial commodity.

Mon, 07/11/2011 - 10:11 | 1443492 coppertop
coppertop's picture

You dam right im right

Mon, 07/11/2011 - 10:58 | 1443746 Thisson
Thisson's picture

Nothing against silver, but no, silver is not money.  Gold is money and nothing else. 

I also take issue with the thesis that silver is a "highly undersupplied over demanded industrial commodity."  We're on the brink of universal default and debt repudiation, and there is a real risk that industrial production could collapse, in which case industrial demand for silver could collapse.  In short, both the bulls ("industrial demand/shortages will cause price increases") and the bears ("silver is money") cannot both be correct.

Mon, 07/11/2011 - 14:21 | 1444736 Temporalist
Temporalist's picture

When industrial demand dies because of economic reasons the monetary reasons will supersede all.

Mon, 07/11/2011 - 11:10 | 1443852 Max Fischer
Max Fischer's picture

To say silver is money, one has to completely ignore the way silver was treated during the 2008/09 crisis.  Perhaps you and your circle of goons think so, but the rest of the world treated silver like any other commodity when the SHTF in 08/09. 

- Max Fischer, Civis Mundi


Mon, 07/11/2011 - 11:43 | 1444063 thesapein
thesapein's picture

It does seem silly to say silver is money when there are much better ways to describe its properties whilst money is one of those slippery terms like love. But I also think it's silly to deny others the chance to sub the love of money with the love of silver. Your objection doesn't apply to other currencies when they go in opposite directions of one another so why should it apply to silver or money?

Mon, 07/11/2011 - 14:23 | 1444738 Temporalist
Temporalist's picture

You clearly don't realize that paper silver is tied in with paper global fiat ponzi. 

Mon, 07/11/2011 - 11:38 | 1444037 thesapein
thesapein's picture

Silver is not often as good as gold in many industrial applications but is used more often because it is cheaper; like tons cheaper, yo. But don't be embarrassed because even gold bugs forget this.

Mon, 07/11/2011 - 10:11 | 1443491 Re-Discovery
Re-Discovery's picture

it's better (at least as a trade.)

Mon, 07/11/2011 - 09:30 | 1443352 Sudden Debt
Sudden Debt's picture

Let's hope not. Oktober is a hughe buying month so if we hold the price low untill then, stocks will be depleted even more and shortages will really propel the price up!

We don't want it to pop to early so it will take longuer for the remaining stocks to be sold off.


Mon, 07/11/2011 - 09:34 | 1443365 critical_mass_soon
critical_mass_soon's picture

yeah! silver bitchez!!!!

Mon, 07/11/2011 - 09:46 | 1443411 cpnscarlet
cpnscarlet's picture

I thought of SAEs this AM, but I'm just about 2K Oz. I bought some SIVR.

Mon, 07/11/2011 - 09:48 | 1443416 Yen Cross
Yen Cross's picture

 XAG is bouncing off the roof... I personally would be watching the 100hour sma (35.97) and a support level around 35.74. I have an old ascending trendline just below around 35.29.

These are s/t remarks Good luck...

Mon, 07/11/2011 - 10:00 | 1443447 Yen Cross
Yen Cross's picture

 the first junk! Yea ya tool..

Mon, 07/11/2011 - 10:02 | 1443452 chartcruzer
Mon, 07/11/2011 - 10:08 | 1443470 francis_sawyer
francis_sawyer's picture

The fact that there are only 17 comments thus far suggests that the next break may be UP (even if it proves to be a false break)...

I' be worrie about a breakdown if there were 200+ 'bull comments' on this forum...


Mon, 07/11/2011 - 10:08 | 1443473 All is chosen
All is chosen's picture

All that analysis to conclude that silver might go up ......... or down. Wow!

Mon, 07/11/2011 - 10:59 | 1443759 Thisson
Thisson's picture

As with all technical analysis/entrail reading: [it will do this, unless it doesn't!]

Mon, 07/11/2011 - 21:40 | 1446228 fmxconnect
fmxconnect's picture

Actually it also concludes you should buy a straddle and let your gamma run, moron


Mon, 07/11/2011 - 10:14 | 1443499 janus
janus's picture

I hope this picture posting works:

Dammit! how do you post a pic on here?  It's nothing vulgar, in fact it's beautiful.  I paid a lot of money for this turn-of-the-century (the last one before) antique, and I'll be damned if I can't show it off.



Mon, 07/11/2011 - 10:17 | 1443511 francis_sawyer
francis_sawyer's picture


You have to become a permabull (like leo or robo) to gain foto status...

Either that, or you have to cash in some airline miles...


Mon, 07/11/2011 - 10:27 | 1443572 janus
janus's picture

that's a bunch of rot.

it's everyone's loss, really.  How would I go about emailing it to Tyler?  Nevermind, i think I'll figure out how to go about emailing it to Tyler.

I don't think anyone here has ever seen anything so beautiful; it makes Helen of Troy look like a nappy ass ho.

Thanks for saving me some futile effort.

Mon, 07/11/2011 - 10:31 | 1443597 I Am The Unknow...
I Am The Unknown Comic's picture

Hey Janus, I would like to see it.  Could you post it over on Turd's blog today after he updates it with today's commentary?  Thanks.

Mon, 07/11/2011 - 10:59 | 1443757 janus
janus's picture

who is this Turd, and what's this I hear about him having a blog? 

Certainly, but I'll need a bit of direction.  I'm new to everything; I know nothing; but I'm willing to learn.

But this is going to seem spectacularly stupid:

I cannot figure out how to email Mr. Durden.  I mean, if i had an address...easy-peasy.  If I don't figure it out soon, I'm sending the pics to Max Keiser.  He'll know what to do with them.

Mon, 07/11/2011 - 10:59 | 1443769 Thisson
Thisson's picture

Just upload the photo to imageshack or photobucket and post a link. 

Mon, 07/11/2011 - 11:36 | 1444030 janus
janus's picture

again, most helpless. will investigate

Mon, 07/11/2011 - 11:40 | 1444045 janus
janus's picture

nope. I'll do something else; I don't like joining things...I'm allergic to it, and these photobucket sites all insist that I wed myself to their cause.

Mon, 07/11/2011 - 12:23 | 1444224 mick_richfield
mick_richfield's picture

there's a place called bayimg that requires no membership, and lets you specify a code that will cause the image to get taken down.

Mon, 07/11/2011 - 15:52 | 1445107 I Am The Unknow...
I Am The Unknown Comic's picture

Turd Ferguson:

Haven't you heard, about the Turd?

Don't you know that the Turd is the word?

The Turd!  People talkin' bout the Turd!

Mon, 07/11/2011 - 10:15 | 1443501 francis_sawyer
francis_sawyer's picture


In that case, it's SURE to go sideways... :-)

Mon, 07/11/2011 - 10:16 | 1443508 I Am The Unknow...
I Am The Unknown Comic's picture

Thank you for the article.  I am keeping my eyes on JPM share price, whch is presently at $39.76 whereas silver is at $36.60.  Many silver analysts far smarter than myself have postulated that if the silver price exceeds JPM share price, then due to the nature of JPM's massive short positions in silver, such an event would indeed "crash JPM."  So, if the silver price crosses JPM share price I will be both buying physical silver hand over fist while shorting JPM.   I also am concerned that the closer the silver price gets to JPM share price, the more likely we are to have some "unforeseen event" that will push down silver (artificially, as always, of course). 

Mon, 07/11/2011 - 10:51 | 1443708 HungrySeagull
HungrySeagull's picture

Fook that paper share price. Get out before friday close.

Buy and HOLD PM's


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