Silver Surges To Key Technical Level

Tyler Durden's picture




 

While Gold has been grabbing the "safe haven" headlines in recent days, this morning it is Silver's turn. Having rallied 2.5%, Silver just broke its 50-day moving average for the first time in 2 months...

Silver touches key technical level...

 

For the first time in 2 months...

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Thu, 01/07/2016 - 12:40 | 7011830 Squid Viscous
Squid Viscous's picture

long dong silver bitchez!

Thu, 01/07/2016 - 12:43 | 7011861 El Oregonian
El Oregonian's picture

A "Sliver of Hope"....

As long as you got it in your posession, that is...

Thu, 01/07/2016 - 12:46 | 7011886 Looney
Looney's picture

Speaking of gold...

Donald Trump should promise to open up Fort Knox for inspection as soon as he’s sworn in.

What do they store in there now, chocolate coins and Hershey’s Kisses? ;-)

Looney

Thu, 01/07/2016 - 12:47 | 7011902 Big Corked Boots
Big Corked Boots's picture

TO THE MOON, BITCHEZ!!!

(just for old time's sake)

Thu, 01/07/2016 - 12:59 | 7012005 kralizec
kralizec's picture

Later.  The monkey with the hammer has just been sighted in the hallway...

Thu, 01/07/2016 - 13:41 | 7012310 secretargentman
secretargentman's picture

To a monkey with a hammer, EVERYTHING looks like the price of (paper) silver.

Thu, 01/07/2016 - 13:52 | 7012376 zuuma
zuuma's picture

I like stacking as much as the next guy, but ultimately,  Who's gonna buy my stack?

The reason the press doesn't report on COMEX naked shorts is not complex.  Most peeps neither know nor care about the silver (or any metal) market.  It may seem like everybodys's stacking because we read & post here, but the truth is...nobody else cares.
Press wants to sell papers or get eyeballs.  Silver don't get those.  Gun control gets those. Bruce Gender gets those. NFL scores gets those.

And if 95% of peeps don't care about AG now, what is going to convince them when the interwebs goes dark or the FRNs collapse?
I honestly don't know.  I've brought this up with younglings and all I get is a dull stare.  Like an old cow at a new gate.

I seriously wonder how important the AG market really is.

Thu, 01/07/2016 - 14:26 | 7012617 Nobody For President
Nobody For President's picture

AG is a store of value.

Period.

It is both a long term store, for the grandchildren (and my eldest male grandchild inherits all of mine, and he is beginning to understand 'real' money and store of value concepts') AND

real money if the total shit comes down. A real fucking silver dollar will be an 'exchange of trade' kind of real money, and it can be cut in half, or even - eights, i.e. 'pieces of eight'. I think more valuable for local barter/trade if TSHTF than gold, although gold will be OK too. ;-)

Thu, 01/07/2016 - 14:36 | 7012700 stacking12321
stacking12321's picture

wake me up when silver gets back to 50

zzzzzzzz.........

Thu, 01/07/2016 - 15:38 | 7013111 zuuma
zuuma's picture

value is what someone will pay.  Period.

seashells and beads were money with a store of value once.  Someon wanted them. Now they don't.

My question as to who will value AG, stands.   You might be surprised what your grandchildren value. or Dont.

 

Perhaps in our lifetimes, our robot masters will consider AG as we consider seashells now.

Thu, 01/07/2016 - 17:00 | 7013620 Squid-puppets a...
Squid-puppets a-go-go's picture

seashells dont have all the properties that have made silver money for thousands of years.

and neither does paper, stocks, bonds, derivatives etc. People will start to remember why gold and silver always were precious.

Thats who will buy your stack

Thu, 01/07/2016 - 18:34 | 7014139 Charming Anarchist
Charming Anarchist's picture

Sounds like a desert island dream to me!

Thu, 01/07/2016 - 16:10 | 7013260 SilverDOG
SilverDOG's picture

zuuma,

SELL ! SELL ! SELL !

Thu, 01/07/2016 - 23:17 | 7015411 Crush the cube
Crush the cube's picture

Gold is one of the biggest global commodity markets, so pretty important.  They're brothers, always have been.

Thu, 01/07/2016 - 16:18 | 7013348 bilbert
bilbert's picture

+100. THAT was funny!

Thu, 01/07/2016 - 13:00 | 7012021 SuperRay
SuperRay's picture

Doesn't mean anything. It means the zombies are worried about equities so they're buying a piece of paper promising them silver that the seller doesn't own. Shut that shit down!

Thu, 01/07/2016 - 13:02 | 7012039 e_goldstein
e_goldstein's picture

 What do they store in there now...

 VX nerve gas last I heard.

Thu, 01/07/2016 - 14:32 | 7012663 armageddon addahere
armageddon addahere's picture

"Speaking of gold...

Donald Trump should promise to open up Fort Knox for inspection as soon as he’s sworn in.

What do they store in there now, chocolate coins and Hershey’s Kisses? ;-)

Looney"

 

An IOU with Richard Nixon's signature on it.

Thu, 01/07/2016 - 12:46 | 7011893 Thought Processor
Thought Processor's picture

 

Holy shit, silver is breathing again.

 

You know it's getting bad when Silver wakes up.

Thu, 01/07/2016 - 12:56 | 7011979 ElwinCthulhu
ElwinCthulhu's picture

<== higher pleez!

<== lower pleez!

Thu, 01/07/2016 - 14:27 | 7012630 Nobody For President
Nobody For President's picture

FU. I've got my stack...

Which, alas, was lost in a tragic boating accident.

Thu, 01/07/2016 - 12:41 | 7011834 Harlequin001
Harlequin001's picture

and 'enter the invisible hand' in 3, 2, 1...

Nah, it's usually the day after...

Thu, 01/07/2016 - 12:43 | 7011866 LoneStarHog
LoneStarHog's picture

The crooks will wait until the afternoon Globex session when no one is trading.

Thu, 01/07/2016 - 12:43 | 7011867 OldPhart
OldPhart's picture

Oh, just give it a few minutes to be pounded back to $13.97.

Thu, 01/07/2016 - 12:55 | 7011964 buzzkillb
buzzkillb's picture

Why does it keep going back to that magic number anyways?

Thu, 01/07/2016 - 13:01 | 7011992 Kaiser Sousa
Kaiser Sousa's picture

u know the answer to that question....

EXCHANGE STABALIZATION FUND....

FEDERAL RESERVE.....

Thu, 01/07/2016 - 12:56 | 7011976 Kaiser Sousa
Kaiser Sousa's picture

exactly...

still cheap....

still stacking...

and nothing chsnging that fact...

until its tripple digits VALUED in debt coupon dollars

stay the fucking course....

DEATH TO THE MONEYCAHNGERS.

Thu, 01/07/2016 - 14:39 | 7012718 stacking12321
stacking12321's picture

why death to the moneychangers, what's wrong with changing one type of currency for another?

arent you a money changer if you change dollars for silver?

as long as the exchange is voluntary, i have no problem with it.

Thu, 01/07/2016 - 12:50 | 7011928 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

Yep.

- Watch for half the worlds silver production to be sold in 10 seconds when all the New York traders are still in bed.

- Watch for the regulators to announce they don't see "anything unlawful" happening.  

- Watch for the legacy media to not be remotely curious about these events.

- Dream of the day PM prices are reset higher due to default and the legacy press informs you that everyone always knew this day was coming but also that there need to be special anti-speculator punishments for the longs becuase no one could have seen it comingand its not fair.

Thu, 01/07/2016 - 12:41 | 7011838 yellensNIRPles
yellensNIRPles's picture

This will come back down hard when the rate is cut again and QE57 starts.

Thu, 01/07/2016 - 12:40 | 7011839 LawsofPhysics
LawsofPhysics's picture

While I do appreciate the increase in "price" for all my ounces.

This is still a PAPER "market" with no real connection to reality.

Moral hazard is a real motherfucker like that.

Thu, 01/07/2016 - 12:44 | 7011868 Cangaroo.TNT
Cangaroo.TNT's picture

Instead of buying and holding silver, I just buy stock in companies that buy silver.  It's the same thing.

[/sarc]

I know I'm beating a dead horse here but I can't help myself.

Thu, 01/07/2016 - 12:56 | 7011983 buzzkillb
buzzkillb's picture

I only buy stocks that can be bought with silver. :thud:

Thu, 01/07/2016 - 13:00 | 7012014 Mikesk
Mikesk's picture

My SLW holding is doing pretty bad - after 4 months, when I bought it - it is still down. 

Thu, 01/07/2016 - 14:34 | 7012677 Nobody For President
Nobody For President's picture

This is /sarc/ - right?

You don't buy paper silver as an 'investment' to 'profit' from.

Buy the metal as a storage of [long term] value. Period.

Or GTFOut and 'invest' in some great company like Amazon, with a 342 PE (more or less).

Thu, 01/07/2016 - 12:46 | 7011897 Bastiat
Bastiat's picture

The connection to reality happens if it gets even a tiny additional fraction of people excited enough to start grabbing some physical. 

 

Thu, 01/07/2016 - 13:17 | 7012134 Yen Cross
Yen Cross's picture

LoP> What part of "sell your paper profits" and buy the "real stuff" don't you understand?

Thu, 01/07/2016 - 12:44 | 7011869 KnuckleDragger-X
KnuckleDragger-X's picture

But how long will it last? This is the market game and actually getting the metal is a different thing. The fun will start when people actually demand fulfillment of contract instead of a cash placebo......

Thu, 01/07/2016 - 13:06 | 7012068 Various
Various's picture

I've seen this mentioned here a few times, but I don't understand the logic. As far as I understand it, they are under no obligation at all to to settle in physical. Not ever. Am I wrong?

Thu, 01/07/2016 - 13:37 | 7012284 KnuckleDragger-X
KnuckleDragger-X's picture

Not quite, it's a contract for delivery, but the orders can take a cash payout at close of contract instead of taking possession. A lot of the futures market is like that, but the contract CAN be enforced......

Thu, 01/07/2016 - 15:52 | 7013178 crazybob369
crazybob369's picture

So can a nail to the back of the head. No one in these paper markets would go against TPTB.

Thu, 01/07/2016 - 12:45 | 7011874 Dead Canary
Dead Canary's picture

Comex paper. Color me bored.

Thu, 01/07/2016 - 12:45 | 7011887 F0ster
F0ster's picture

Iove the fact that people hate silver. Keeps it sooooooo cheap!

Thu, 01/07/2016 - 12:46 | 7011890 MadMav
MadMav's picture

Barbaric relic for us barbarians!

Thu, 01/07/2016 - 12:46 | 7011896 European American
European American's picture

"Silver Surges To Key Technical Level"

Throw out the "Technical" 20th century jargon. When it hits $50, then we're talking "Key" level.

Thu, 01/07/2016 - 12:48 | 7011915 Bopper09
Bopper09's picture

I have more silver this year than I did last year.  That means I am more wealthy.

Thu, 01/07/2016 - 12:52 | 7011944 Smuckers
Smuckers's picture

I'll feel good when silver breaks $50.

Thu, 01/07/2016 - 13:05 | 7012054 FreeNewEnergy
FreeNewEnergy's picture

Shoot, if silver breaks $50, I'll be even more retired than I already am. That's between a 3 and a 4-bagger from here.

I just bought more a week ago. I'm holding for now. May buy more on any pullback. Thinking $15-16 is still a very reasonable level.

Thu, 01/07/2016 - 13:13 | 7012118 I AM SULLY
I AM SULLY's picture

I just bought 900 bucks in silver yesterday. I will keep buying, and gold too, until this shit show collapses.

(which is feeling sooner rather than later ...)

Thu, 01/07/2016 - 14:36 | 7012692 Nobody For President
Nobody For President's picture

You are my kind of guy, Sully.

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