Silver Dips Below $30

I wish I could get an advance on my year end bonus. I would love to buy a box at $14.5k, just really think it is a good deal at this price. No more premium silver until I add a few 100 more ounces of random .999 or heck even some 90%.

If anyone has any they are looking to sell shoot me a pm.

Can't be any worse than my track record. I swear I can adversely affect the market all by myself...

Barry seems to be the official CCF forum canary in the coal mine. If he's buying, I'm holding my dry powder close and waiting for a good opportunity shortly thereafter. Looks as if we are getting some really good prices now but there is no way to know whether or not we will soon see even better prices or higher ones.

I have been buying, though. Can't seem to shake this Silver Addiction Syndrome (SAS) that I picked up a year and a half ago. I have 10 rolls of proof State Quarters + a $100 bag of BU grade Kennedys on the way from APMEX plus 8 tubes of ASEs coming from Provident. Just got an email that Provident has shipped my package, so I should be seeing that in 3-4 days. The APMEX order was made a week after the Provident order, so it won't be here for another week or so. The good news is that dry powder remains in hand, so lower prices will be just another opportunity to swap fiat for real money.

Asia/Europe seems to be picking up, so will see if tomorrow we head back up where we were on Wednesday. I may have missed my chance today!

And it almost hit 28/oz. They do say though that there is excessive euphoria on the Bull side as the news was good, but wasn't that good. Seems like the Bulls are grabbing onto anything they can and taking off with it. And of course the Oil companies need this news to raise prices this weekend for the 4th; after dropping below 3 dollars a gallon for the first time in a year.

I expect maybe a 20 percent correction next week.

Geeze $1.42 uptick in one day. Mac called it; Casino style investing!

Just an observation A few years ago the price of Silver was, by and large, tied to supply and demand. For the last few years the bulls have been pushing the price up on the expectation that demand will increase and outpace supply. And yet for the last ten years there has been a surplus of Silver on the market; and industrial usage has gone down, in relative terms.

The uptick today was on the expectation that the Euro crisis is over, and industrial demand will there for resume. Increasing the demand for silver.

Thats the theory anyway. The problem is that these options are for three months down the road. And even if you had a perfect storm in the Eurozone demand still would not increase in less than a year. Meanwhile the overhead for the few industries using silver has gone up, while their demand is flat or mildly negative or positive. Forcing more cutbacks, reducing demand. Which affect the surveys/news; which in turn take the steam out of the bull arguments.

In other words steady incremental growth is the bulls best friend, not this see saw...or should I say Casino Style approach (thanks Mac!).

Nymex crude-oil futures ended the day on Friday at $84.96 a barrel, a rise of a $7.27, or about 9.4%; which was the biggest one-day oil rise since March 2009.

I'm surprised PM didn't have an an even bigger surge, really. But can the market hold its gains?

Regardless of the positive spin, the EU remains in crisis mode.