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Au & Ag failing miserably
piecesofme
Posts: 6,669 ✭✭✭
Failing miserably in the sense that the concencus seems to be $30+ for Ag and $1500+ for Au is inevitable fairly short term. Well with a 2nd run at those numbers and backing off considerably upon approaching them, I view it as a failure.
Here's why...Ag has run 50% in the last 4 months, but when it gets to a number that everyone feels it will not only reach but surpass, it backs off hard. If it can run 50% in 4 months, why is the number most feel it will reach so intimidating to not only reach, but overcome?
Is it fear and people just want to cash out and sell because it has reached close to the almighty coveted number? Is it people who are into ti 200% cheaper than what it's at seeing $ signs? Or could it just be MANIPULATION!?
Here's why...Ag has run 50% in the last 4 months, but when it gets to a number that everyone feels it will not only reach but surpass, it backs off hard. If it can run 50% in 4 months, why is the number most feel it will reach so intimidating to not only reach, but overcome?
Is it fear and people just want to cash out and sell because it has reached close to the almighty coveted number? Is it people who are into ti 200% cheaper than what it's at seeing $ signs? Or could it just be MANIPULATION!?
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the only action that is important is that a base is rebuilt and movement continues...upward.
and it is
Loves me some shiny!
Silver is still working on forming a possible cup and handle (or an ascending triangle) while gold is in a symmetrical triangle consolidation. One would certainly have expected some sharp resistance as silver hit $29+ again and gold tried to hit $1400. The pull backs were so sharp they look almost contrived. Silver could pull back to $27 to add a handle and it would still hold the uptrend line.
roadrunner
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<< <i>I don't understand your disappointment. Silver solidly above $28 and gold above $1380 is what I view as success. Not long ago $25 and $1300 looked insurmountable. >>
Just 2 years ago today gold was at $750 and silver at $9.50.
For Rich to imply some sort of "fail" because they havent broken through $1400 and $30 is completely erroneous. Rich, gold has almost doubled in just 2 years, and silver has TRIPLED in that same time. Please explain to this forum how that even remotely qualifies as a "fail".
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Silver is the mortar that binds the bricks of loyalty.
<< <i>
<< <i>I don't understand your disappointment. Silver solidly above $28 and gold above $1380 is what I view as success. Not long ago $25 and $1300 looked insurmountable. >>
Just 2 years ago today gold was at $750 and silver at $9.50.
For Rich to imply some sort of "fail" because they havent broken through $1400 and $30 is completely erroneous. Rich, gold has almost doubled in just 2 years, and silver has TRIPLED in that same time. Please explain to this forum how that even remotely qualifies as a "fail". >>
Why, have the governments of the world stopped spending money like drunken sailors?
Your logic escapes me.
Member ANA, SPMC, SCNA, FUN, CONECA
Give Me Liberty or Give Me Debt
<< <i>I LOVE BEING A FALURE .......
Give Me Liberty or Give Me Debt
<< <i>Once again....nah, it aint even worth taking the time to explain my view regarding this because most of you have your minds made up about anything I say. It's "popular" to disagree with me because I dont follow the crowd and think outside the box, and I understand that. So be it and thanks for continuing to reply to my threads just to disagree with me. It's very revealing what the motive is in your replies LOL! todalu. >>
Rich, when did you get in on metals? Maybe its simply a misunderstanding of perspective? If a person has aquired the bulk (75%+) of their metals in the past 12 months, then maybe they see the current stagnation as being a failure. However, MANY members of this forum have been involved im precious metals for a decade or longer.....some much longer. They, and I, will never agree with your view that Au and Ag are "failing", during their all-time highs period.
up $164+ per oz year to date
up $9.28 per oz year to date
roadrunner
<< <i>Once again....nah, it aint even worth taking the time to explain my view regarding this because most of you have your minds made up about anything I say. It's "popular" to disagree with me because I dont follow the crowd and think outside the box, and I understand that. So be it and thanks for continuing to reply to my threads just to disagree with me. It's very revealing what the motive is in your replies LOL! todalu. >>
I haven't made my mind up in regards to anything about you, but will reply to say that I don't agree that silver and gold are failures in terms given in the OP.
I'm a very small time bullion buyer, bought a couple ounces at $400 and sold at $440 a few years ago, and maybe owned and sold 10 ounces all together. BUT, I've bought three PCGS double eagles in the past two months at $1500 each.
I feel better about them than if I'd put it the stock market or if I'd left it in the bank. Maybe I'm just on a bandwagon.
<< <i>Anyone know what the all time high - daily close is from 1980?
roadrunner >>
I believe it it was $843
MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
lol, you didn't think that these were "free markets", did you? The thing that's driving these precious metals markets is the truth about currencies. Every day, a few more stock market investors finally sit back and say, "What am I doing?"
I knew it would happen.
thanks
roadrunner
<< <i>MJ, was looking for the all time high daily close for silver. It whipsawed so quick on that one or two days it's all time close might only be in the $30's.
thanks
roadrunner >>
Whoops. If memory serves me correctly I believe it was $48.............MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
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Phil,
All I'm really getting at is the HYPE that folks were saying that Ag is going to go to $30+ (+ being the key thing).
ok, now it has made 2 recent runs a little above $29 (keep in mind when I posted the thread it had topped out at $29.05 for the day and was at $24.40-ish). Congratulations to those folks that believed the HYPE, laid their $ down and bought some Ag as little as 4 months ago. They have had 2 chances to cash out for a near 40-50%+ gain if bought/sold at prcise highs/lows.
My question is why cant it break thru the expectation that is has come up against? Apparently, some people (not you) didnt read my whole original post. jmski52 did and gave some meaningful feedback to the questions I asked.
That's all i'm saying...where I personally bought in or what my cost avg. is is not the motivating factor of my questions. What is, is why cant it break thru when it has run up to, so quickly, the HYPED number that everyone was throwing out there 4-5 months ago? If it can run 50% in 4 months, what's stopping it? My suggestion is that it is being heavily MANIPULATED (as I said in my OP), but some folks only read what they want to read. If they wouldve takent the time to read it all, maybe they wouldve understood better what I was asking/suggesting.
I wonder how many folks will actually read my whole post now...or will they only pick apart what they want to like they did with my thread about Govt. wage freezes???
It has only been near this price once in the last three decades, so I do not see a minor (in my book) pullback as a failure.
I remember this question being asked -- quite frequently, and for some length of time -- about why spot gold couldn't break through $1000. Looking at the chart, there was validity to the question.
The timing of this question is a bit premature... but... if silver does not break $30 in the next say 12 - 16 months... not only will this question be asked over and over again... but we will have the knowledge that YOU asked it first in this forum... and much congrats will be due.
And I don't think its "popular" here to disagree with you... if it seems that way... let me be the first to apologize.
I knew it would happen.
<< <i>The question is why cant it break thru the much hyped and nearly achieved number of $30+...not so much why did it pull back. But I guess they go hand in hand. >>
Some day drive from Goodland, Kansas to Colodado Springs, CO. Once you get into the foothills you will go up and down and up and down and up and down and eventually find yourself at 6,000 feet altitude in beautiful downtown C-Springs. It is not a straight-line steady climb, but you get there.
<< <i>The question is why cant it break thru the much hyped and nearly achieved number of $30+...not so much why did it pull back. But I guess they go hand in hand. >>
Its called "late to the game" syndrome
Loves me some shiny!
Why did it take several attempts at or near $1000 for gold to finally leave it behind? Same question for gold at 1000 Euros.
Why has copper taken several cracks over a couple of years at $4.00 and still not said good bye to it forever?
Why did it take silver approx 2-1/2 yrs of trying to permanently crack the $20 barrier after several attempts?
Apparently, all markets are manipulated. The only question is "how much?"
So what was the question again about $30 silver?
roadrunner
<< <i>The question is why cant it break thru the much hyped and nearly achieved number of $30+...not so much why did it pull back. But I guess they go hand in hand. >>
30 is just a number. It comes after 25 and before 35.
Give Me Liberty or Give Me Debt
My suggestion of it being manipulated was really more in the rhetorical sense. But if you feel that you need to say it, thanks for agreeing with me.
Its called "late to the game" syndrome
Dont think so there bud...been at this quite awhile. You missed the point of the entire thread. Just thought you should know that it is not about anything to do with me or what my cost avg. is (as I have already said, did you take the time to read my entire posts'?), it's about why it cant seem to break thru $30+ when it was/is so heavily hyped to do so...and why if it can run 50% in 4 months, but has stopped short of the hyped number 3 times now?
My (rhetorical) suggestion is that it's heavily manipulated (why I put that word in CAPS).
Here I go having to explain myself again and I promised myself that I would end doing so. If a person cant read between the lines of something that is staring them in the face, why should I take the time and effort to hold their hand?
This concludes this rant. Have a nice day and thanks for contributing.
P.S.
I cant tell you how wrong I want to be on this having a modest holding for a regular guy like me, but I'm staying true to how I really feel about what is going on with the metals, Ag especially. If it reaches $30, even $35 that would be very nice, but will it break out from that (the whole basis of my point) or at least hold steady?
I knew it would happen.
HEY! We're making progress, on that I completely agree.
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Oh really? I said this back on 12/3:
If it reaches $30, even $35 that would be very nice, but will it break out from that (the whole basis of my point) or at least hold steady?
Reaching a given point is one thing...building upon or at the very least maintaining is quite another, isnt it?
<< <i>Case solved. MJ
Oh really? I said this back on 12/3:
If it reaches $30, even $35 that would be very nice, but will it break out from that (the whole basis of my point) or at least hold steady?
Reaching a given point is one thing...building upon or at the very least maintaining is quite another, isnt it? >>
My own fault to responding to one of your thread. My mistake, it won't happen it. MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
What do you figure for the bottom call?
roadrunner
<< <i>
<< <i>Case solved. MJ
Oh really? I said this back on 12/3:
If it reaches $30, even $35 that would be very nice, but will it break out from that (the whole basis of my point) or at least hold steady?
Reaching a given point is one thing...building upon or at the very least maintaining is quite another, isnt it? >>
My own fault to responding to one of your thread. My mistake, it won't happen it. MJ >>
That ought to teach you.
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But yet you found it necessarry to do it again.
lmao! Being simple minded with horse blinders on will only get you so far. Seeing the bigger picture will have you prepared for what's ahead.
$30.73 down to $28.85 and closing very near the low of the day is a good thing to those of you that think this hard move downward wasn't inevitable????
I'm honestly not gloating, just validating a point made nearly a week ago.
I dont look out more than 3 months if that helps you to see how I view things, hence the "week ago" statement.
What's the timeframe that I am supposed to predict this? Meaning, by when it will reach this point? Because as Im sure that you're aware rr, timing is everything.
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I'm the first to admit that i've been wrong since about $25 being that thats about when I stopped making larger quantity buys for fear of being trapped. But thats not to say that I wasnt doing deals. All I have been saying since then is be careful for something like what happened today. I amped that up about this time last week and low n behold it happened today. I even said that I wasnt gloating, just making the point that I brought up a week ago known.
In fact, I think todays action is the best thing that couldve happened. Ag needed a beatdown like today.
Now you're asking me for the bottom as if I have a crystal ball? Hell...I dont know, but when it gets close to bottoming out, I'll amp it up as I did a week ago in letting people know it's close. That's all i'm saying guys.
If you can make a prediction and call the exact top and the exact bottom, you wouldnt be on these message boards. I feel that if I can get 65% (2/3) of that full bottom/top movement, thats good enough for me and thats about what I did. Trying to get anything more is greed or not being able to admit to oneslef that they are wrong and cut the losses.
Than read egotistical BS!