Question for Silver Chartists.
percyb
Posts: 3,324 ✭✭✭✭
Over the past year or so everytime silver has reached 18-19 $ level, it's traded back down to the 16-17 range.
Do chartists see a short term shorting opportunity here?
Thanks in advance.
Do chartists see a short term shorting opportunity here?
Thanks in advance.
"Poets are the unacknowledged legislators of the world." PBShelley
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Comments
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>One of the differences this time is that the dollar index (vs. European currencies mostly & the Yen) has gone up sharply together with the silver (and gold) price, indicating a much stronger rally. If by chance silver does soon fluctuate downwards to around $16, why wouldn't it be a preferable option to just treat it as a buying opportunity? >>
If that happens, you could make money both ways.
>
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PS: I'm a chartist - Short silver.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>If you buy or sell based on opinions from this forum you deserve to lose money. Buy or sell based on what YOUR research shows and let your research carry you far beyond this forum.
PS: I'm a chartist - Short silver.
Dunno, derryb...I'm not really a chartist (I do look at them though, does that count?), but from where I sit, and given silver continues to climb even with the very strong dollar headwind, that to me is a signal to buy and buy hard. I like PC's feelings that silver is headed for around $21~$22-ish, before a correction, and then may tag along with another parabolic with gold (with gold going to $2300 I could easily see silver around $30 at the same time).
Factors in play would be how seriously the fall/correction the Euro makes. I'm almost ready to say silver is inversely proportional to the EURO...kinda seems crazy though...
<< <i>I would not short silver this time since those driving the price back down are now being investigated for manipulation. >>
True!
Shorting silver is like playing Russian Roulette. You'll probably win, but if not your head will be blown off.
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<< <i>If you buy or sell based on opinions from this forum you deserve to lose money. Buy or sell based on what YOUR research shows and let your research carry you far beyond this forum.
PS: I'm a chartist - Short silver.
Dunno, derryb...I'm not really a chartist (I do look at them though, does that count?), but from where I sit, and given silver continues to climb even with the very strong dollar headwind, that to me is a signal to buy and buy hard. I like PC's feelings that silver is headed for around $21~$22-ish, before a correction, and then may tag along with another parabolic with gold (with gold going to $2300 I could easily see silver around $30 at the same time).
Factors in play would be how seriously the fall/correction the Euro makes. I'm almost ready to say silver is inversely proportional to the EURO...kinda seems crazy though... >>
Let's make sure we put things into perspective. The last time silver got this high, it headed straight back down to $8. So $30 or $8, you choose. I agree that silver could go to $30, it could also go to $8.
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Successful transactions on the BST boards with rtimmer, coincoins, gerard, tincup, tjm965, MMR, mission16, dirtygoldman, AUandAG, deadmunny, thedutymon, leadoff4, Kid4HOF03, BRI2327, colebear, mcholke, rpcolettrane, rockdjrw, publius, quik, kalinefan, Allen, JackWESQ, CON40, Griffeyfan2430, blue227, Tiggs2012, ndleo, CDsNuts, ve3rules, doh, MurphDawg, tennessebanker, and gene1978.
I would not short silver this time since those driving the price back down are now being investigated for manipulation
If those being investigated manipulated the price higher, then perhaps there is nothing more to investigate?
Knowledge is the enemy of fear
<< <i>Silver is bumping up against the 2 yr downtrend. My momentum indicators have not confirmed this move higher. I think silver hit a mini perfect storm--the combination of currency turmoil and "manipulation prosecution" talk. IMO, silver was manipulated higher. Chartwise, silver is in a sort of no-mans land. Could go up or down $2 from here. Over the years I have come to respect my momo indicators as they have been very, very good to me.
>>
Do you have a silver chart you might post??
Thanks