You're not the only one. It's so revolting it's pathetic.
Opa, nice purr-monster!!
.....GOD
"Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you." -Luke 11:9
"Hear, O Israel: The LORD our God is one LORD: And thou shalt love the LORD thy God with all thine heart, and with all thy soul, and with all thy might." -Deut. 6:4-5
"For the LORD is our judge, the LORD is our lawgiver, the LORD is our king; He will save us." -Isaiah 33:22
I guess some people cant stand to see others forecasts come to be in a short time after being predicted. Whatever...JM started it by waiting by the computer for hours waiting til Ag hit $30 and then proclaimed, "case solved"...only to see a 5%+ nosedive...which again, was the whole point of this thread...Ag failing miserably at building upon the overbought, hyped number of $30. But what do I know...
To forgive is to free a prisoner, and to discover that prisoner was you.
No, sir, you started it by jumping the gun and claiming gold and silver are failing miserably when it's quite obvious to anyone with an IQ above the single digits that both gold and silver are smack dab in the middle (or beginning) of a massive bull run which started 10 years ago. And not one week after your childish claims were blown to bits by reality (silver hitting the magic number of $30 you had set for yourself as proof silver is failing miserably), you couldn't handle it when MJ simply made light of the facts. Then you went on......nevermind. I won't trouble you anymore with reason, logic, facts or history. Others noticed more quickly than I did that you're showing the clearest signs of being a troll.
.....GOD
"Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you." -Luke 11:9
"Hear, O Israel: The LORD our God is one LORD: And thou shalt love the LORD thy God with all thine heart, and with all thy soul, and with all thy might." -Deut. 6:4-5
"For the LORD is our judge, the LORD is our lawgiver, the LORD is our king; He will save us." -Isaiah 33:22
So when you make a call for something to go down, and it does, you're a troll...but if you make a call for it to go up, and it does, you're on the bandwagon looking at everything blindly thinking it will continue to run. I think I get the warped logic of you all now. Thanks for making that so clear to understand.
So much unjustified hate. I wonder if i'd get a congrats if spot was headed higher, like over $30, like all these other bs threads saying $50 is coming. Just being realistic. I know it's not the popular stance these days.
To forgive is to free a prisoner, and to discover that prisoner was you.
I just hope you are not giving advice to all your friends Yes, I am. And when they see a that it did hit a little over $30, as was expected due to the hype, and then proceeded to plummet some 7.5% in a matter of a week, failing miserably to build upon the hype, and validating what I had been saying just a week ago, they can see now having taking those rose colored glasses off.
btw, all done in real time, so nothing can be denied or disputed. I guess that makes me a troll to you all, but worth listening to to those who will at the very least listen to another point of view.
To forgive is to free a prisoner, and to discover that prisoner was you.
<< <i>So when you make a call for something to go down, and it does, you're a troll...but if you make a call for it to go up, and it does, you're on the bandwagon looking at everything blindly thinking it will continue to run. I think I get the warped logic of you all now. Thanks for making that so clear to understand. >>
Giving it a rest... I more than proved my point...but feel free to keep replying to a thread that you all feel has no truth. Thats saying something in itself about most of you.
To forgive is to free a prisoner, and to discover that prisoner was you.
So what big investment have you made a killing on? Surely those money markets are making a killing and I'm sure your stock have been going thought the roof, same old same old all talk no advice? So tell us just how you made your first million...............................
honestly i could care less if it goes up or down in the weeks to months ahead down is better for me more money to buy......im in for the long haul ...and no i wasnt one of the genius who got in super early i started buying heavy at around 17 but my opinion is we are just at the start of the race ..........my thought is u never lose until u sell.......if its not at ur level of profit be prepared to sit on it if u cant afford to u shouldnt be in this game anyway......but what the hell do i know
I guess the POMO factor outplayed the China factor today. Was looking to pick up some cheap miners today but nearly all of them were higher with gold working on $1400.
Any thoughts on Tuesday's gold and silver movements?
I love how this group piles on when something doesn't go as called, but wont give props when something was called correctly, and in fact, is critical. That info. the Boston Globe gave was wrong. China did not raise rates as they reported. Guess i'll not listen to what they report from now on. Oh well, glad I was wrong having bought some 90% over the weekend...a small amount. Never said I stopped buying altogether. I just refuse to buy in large quantities at these levels.
But goin forward now. This is Ag's 3rd attempt, or is it 4th, trying to break out beyond the $30-31 level that so many people hyped. Failed 3 times (or is it 4) and nosedove each time some 5-8%...which is a buying opportunity if you have the nads to do so. But I'll ask again as I have this whole thread, and NO ONE has had a justified and reasonable answer to the simple underlying question.
WHY CANT IT BREAK OUT BEYOND THE HYPED FIGURE OF $30???? TO ME, THAT IS FAILING MISERABLY WHEN YOU TRY SOMETHING 4 TIMES AND CANT GET PAST IT.
To forgive is to free a prisoner, and to discover that prisoner was you.
Give it a few days or several weeks and I think you'll get your wish of silver $32-$35.
Silver did "fail miserably" for the past few years trying to break above $20 for any length of time. Here it is at $29 just a few months after it's last failure. Others might call that a huge success. It could have gotten to $30 by grinding more methodically from 2006 and experiencing no big downturns....but too many people would have rode that wave of success. But it did it in such a choppy fashion that most believed $20 was a wall of steel....and left a huge number of wannabes behind at the $19-21 doorstep. That steel wall turned out to be oat meal. Gold left a ton of people behind at $1045-$1155 who expected a return to $900-$1000. They are still waiting.
rr...I hear what you're sayin bud, really I do, but all I care about with regards to the market is what's ahead, not what's happened. History is always a good reference point to try and figure out why something did what it did. I care about what it's going to do though. Unfortunately my crystal ball has hazed over or else I'd love to share whats going to happen and there be no doubt. So like all others here, I'm left to speculate. So when I see something try to break out a range 4 times and fail each time, I view that as a failure. Therefore it causes me to be very cautious going forward and what happened last week was clear evidence of what can happen in the blink of an eye nowadays. How some took that as gloating is beyond my realm of comprehension. Sure, I can see how those of you that are cost avgd. in at around $12 think this action is amazing and to hell if it goes down 5% after a recent 50+% 4 month run. All do not share that fortune and all do not share the long-term approach either. That's all i'm saying, not saying one is right and the other wrong either. Trade it how you please. All i'm saying is how I trade it, it has failed 4 times now at breaking out of the "next level".
Thank you for your civil reply. If only others would follow suit...if only.
To forgive is to free a prisoner, and to discover that prisoner was you.
But I'll ask again as I have this whole thread, and NO ONE has had a justified and reasonable answer to the simple underlying question.
WHY CANT IT BREAK OUT BEYOND THE HYPED FIGURE OF $30???? TO ME, THAT IS FAILING MISERABLY WHEN YOU TRY SOMETHING 4 TIMES AND CANT GET PAST IT.
In all seriousness, you contend that $30.00 is a hyped number and then you pose your question. $30.00 isn't a hyped number any more than $32 or $35, which derryb pointed out earlier in this thread, I believe. In fact, it broke $30 and then fell back which is probably a more normal price action for an asset that's had such a powerful runup in such a short time.
On the other hand, because we haven't seen $30.00 for oh, about 30 years - I would postulate that $30 does represent a psychological level in both directions. The reality, I believe - is that $30.00 is only the result of fundamentals which include both monetary & fiscal policy, in addition to the developing physical shortfall and the games Comex plays.
Unfortunately my crystal ball has hazed over or else I'd love to share whats going to happen and there be no doubt. So like all others here, I'm left to speculate. So when I see something try to break out a range 4 times and fail each time, I view that as a failure. Therefore it causes me to be very cautious going forward and what happened last week was clear evidence of what can happen in the blink of an eye nowadays.
Being very cautious going forward is never a bad idea, in fact - one of the more frequent recommendations given here is to "average in". There's another set of posters here who do play the market timing and hair-trigger chart game. Both groups bring valid perspectives to the table.
I can see how those of you that are cost avgd. in at around $12 think this action is amazing
I'd call it "interesting" but before it becomes "amazing" I'd would have to have cashed-out, bought a vacation home in Hawaii and a shack in some undisclosed location, paid for my grandson's education through grad school, and know that I had more than ample funds in my accounts that would not only tide me over for the rest of my life and not be subject to erosion through inflation or any other form of confiscatory government schemes. Now, that would be amazing.
all do not share the long-term approach either. That's all i'm saying, not saying one is right and the other wrong either
Nothin' wrong with either. Long-term is generally "safer" and short-term is generally more volatile. As long as you know how to manage money and don't get in over your head, you are ahead of the crowd. This is a long term bull market in precious metals - until further notice.
All i'm saying is how I trade it, it has failed 4 times now at breaking out of the "next level".
Maybe so, but I wasn't paying attention. I pay more attention to the causal factors than to the price action day-to-day. But that's just me.
No malice intended, but at times your demeanor does set you up for criticism or teasing. Peace, bro.
Q: Are You Printing Money? Bernanke: Not Literally
Silver has made effectively one single attempt at $30 and that was back around Dec 6-7th. It poked its head up above $30 and then came back down almost immediately. Unless you're counting bounces from 1980 I only see one attempt, not 4. The pattern of an ascending triangle is being built and that's still bullish. Another attempt at $30 will probably be repelled. The 3rd time often does it.
Today's attempt is still a bit shy of $30 so it doesn't yet count as an attempt. Today's close was the 2nd highest in nearly 31 years. The progress is there. The next teeny step will be a $30 close. Then hopefully a 2nd day with a $30 close.
No malice intended, but at times your demeanor does set you up for criticism or teasing. Peace, bro
Yeah I know, if I had a 10 oz. silver Engelhard for every time I spoke out on something that wasn't the popular side of the coin, I wouldn't be chirping on a message board. I do tend to take the contrarina side probably 70% of the time. Not to argue, but to show validity to another point of view. Am I always right? Of course not...but at least I can admit it and dont pile on when someone else is wrong. Sorry if I come off abrasive at times, but if taken the time to get to know me, you'd see that I'm really a softy. Guess that's why I wear it on my sleeve at times.
To forgive is to free a prisoner, and to discover that prisoner was you.
Silver ran to within 2-3 cents of $30 last night which would count as another attempt. The following push back was expected. Note that it formed a broadening top pattern last night before giving up the ghost and falling back around $0.75. Still going according to the usual plan.
Silver ran to within 2-3 cents of $30 last night which would count as another attempt
That's why i've been saying the $30 range...so by my view that makes 5 faling attempts now. Not being a smart arse, all jmho. Just want to be clear, I want Ag to run up, I am not shorting it, but I am upset how it has stalled after 55% in 4 months simply because it has reached a certain number.
To forgive is to free a prisoner, and to discover that prisoner was you.
<< <i>Silver ran to within 2-3 cents of $30 last night which would count as another attempt
That's why i've been saying the $30 range...so by my view that makes 5 faling attempts now. Not being a smart arse, all jmho. Just want to be clear, I want Ag to run up, I am not shorting it, but I am upset how it has stalled after 55% in 4 months simply because it has reached a certain number. >>
My grandfather used to say: "You can't climb Mt. Everest in one day, that's why there are numerous base camps along the climb." Same holds true with PM's .... you'll reach your goal of breaking the $30 oz barrier.
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
55% in 4 months...granted, with a few bumps along the way. Now bouncing off of $30ish 5 times in last few weeks. Can you say manipulation? What's changed to hold it up from continuing on? All economic and governmental policies that have occured in the last 4-5 months have been beneficial to continue running imo. Is it because everyone is spooked that the CBE will raise minimum buying limits again to curtail speculation? I think that's part of it but the bigger part is things that you and I will never be able to prove, like blatant manipulation. And that just
To forgive is to free a prisoner, and to discover that prisoner was you.
has stalled after 55% in 4 months simply because it has reached a certain number.
Exactly...a "certain" number.
The human mind is fragile and full of ghosts and goblins. Round numbers work the same way. Same thing happened at $1000 Dow, $1000 gold, $20 silver, and $30 silver. Get used to it because it has nothing to do with anything but human fixation on "fair" value and "round" numbers. It used to be that <$20 was a "fair" price for silver. Now <$30 is a fair price. It will take some getting used to allow $30+ to become the next "fair" price. Markets should never vaciliate around fair prices. But since the human condition is heavily involved, that's what you get. If computers were doing all the trading completely independent of us, $30 would just be another number. It doesn't help that the FED and Treasury have also fixated on that $30 number as well knowing that J6P assigns special significance to it. To let it go easily would mean less profits for the banks and further erosion of confidence in king dollar.
What changed that allowed it to go from $21 to $30 in short order? Why wasn't that manipulation? Do you want to give back your profits from that run since it was clearly manipulation? It took 16 yrs and 6 attempts to finally break through the psychological resistance of 1000 Dow for good.
This is only the 2nd attempt at $30. The first move was back on Dec 6-7. There have not been 5 moves....just 2 so far. And this current one could last all week...or longer. Don't get caught up in hourly or minute variations in the silver price. To those looking at the bigger picture, the current move to take out $30 is just a continuation of the one from Dec 6-7...same move technically....at least for now.
$30 range roadrunner...but i suppose it's all semantics at this point LOL. I think you're onto something there with the human factor and i'm glad to hear someone finally admitting that $30 was hyped all the way.
To forgive is to free a prisoner, and to discover that prisoner was you.
How do we know that silver won't go below $20/oz or gold go below $1000/oz?
When the bear overtakes the bull sometime in the future, gold prices will not just freeze where they are, or will it? When Gold reached above $800 in the 1980s it was for a very short time and then went down to around $230/oz at its lowest point in the last two decades.
We don't know where gold or silver will top out at, but how low can they go? I say gold cannot go back down to what it was in the mid to late 1980s $400/oz because the stock market is many times higher than what it was then. Commodities are so much higher than they were in the 1980s, so gold will certainly not be at the 1980s level either.
But why is $1000/oz such a magical number?
"So many of our DREAMS at first seem impossible, then they seem improbable, and then, when we SUMMON THE WILL they soon become INEVITABLE "- Christopher Reeve
I think the $30 spot price triggers big time profit taking in the Silver ETFs, which play a big role in the volatility of spot.
Silver ETFs did no exist lat decade and they are a force in the market now.
I appreciate POMs effort to create dialogue, he feels he is shot down for putting something on the table but really its the rather immature tone of his caustic delivery that triggers the shredding mechanism in more the seasoned stacker.
That being said, in the spirit of casting one's line, I fully expect to pick up some sub $25 silver in the next 3 months. 1. The dollar will strengthen 2. Republican House will clarion pro-biz measures that will drive the markets 3. Unemployment will show signs of easing (slight but positive)
I appreciate POMs effort to create dialogue, he feels he is shot down for putting something on the table but really its the rather immature tone of his caustic delivery that triggers the shredding mechanism in more the seasoned stacker.
hmmm, maybe you didnt read this below. Once again, apparently, it seems that I can't have an opinion and tell a different side...because you've been here longer. And I'm the caustic one? All I do is give what I get.
Sure, I can see how those of you that are cost avgd. in at around $12 think this action is amazing and to hell if it goes down 5% after a recent 50+% 4 month run. All do not share that fortune and all do not share the long-term approach either.
To forgive is to free a prisoner, and to discover that prisoner was you.
My grandfather used to say: "You can't climb Mt. Everest in one day, that's why there are numerous base camps along the climb." Same holds true with PM's .... you'll reach your goal of breaking the $30 oz barrier. >>
Interesting quote OPA. While it is true the climbers do not ascend in 1-day, they do descend in 1-day.
My grandfather used to say: "You can't climb Mt. Everest in one day, that's why there are numerous base camps along the climb." Same holds true with PM's .... you'll reach your goal of breaking the $30 oz barrier. >>
Interesting quote OPA. While it is true the climbers do not ascend in 1-day, they do descend in 1-day. >>
Time to start ascending out of this economical hole we in Maybe Weekie leeks will save us
Comments
<< <i>
Than read egotistical BS! >>
You meant the TF Metal Blog right?
Free Trial
<< <i>
<< <i>
Than read egotistical BS! >>
You meant the TF Metal Blog right?
Yes, I could not find the link
<< <i>
Than read egotistical BS! >>
You're not the only one. It's so revolting it's pathetic.
Opa, nice purr-monster!!
"Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you." -Luke 11:9
"Hear, O Israel: The LORD our God is one LORD: And thou shalt love the LORD thy God with all thine heart, and with all thy soul, and with all thy might." -Deut. 6:4-5
"For the LORD is our judge, the LORD is our lawgiver, the LORD is our king; He will save us." -Isaiah 33:22
Whatever...JM started it by waiting by the computer for hours waiting til Ag hit $30 and then proclaimed, "case solved"...only to see a 5%+ nosedive...which again, was the whole point of this thread...Ag failing miserably at building upon the overbought, hyped number of $30. But what do I know...
"Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you." -Luke 11:9
"Hear, O Israel: The LORD our God is one LORD: And thou shalt love the LORD thy God with all thine heart, and with all thy soul, and with all thy might." -Deut. 6:4-5
"For the LORD is our judge, the LORD is our lawgiver, the LORD is our king; He will save us." -Isaiah 33:22
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
Why don't you pat yourself on the back with both hands.
What a bunch of baloney.
So much unjustified hate. I wonder if i'd get a congrats if spot was headed higher, like over $30, like all these other bs threads saying $50 is coming. Just being realistic. I know it's not the popular stance these days.
I just hope you are not giving advice to all your friends.
Yes, I am. And when they see a that it did hit a little over $30, as was expected due to the hype, and then proceeded to plummet some 7.5% in a matter of a week, failing miserably to build upon the hype, and validating what I had been saying just a week ago, they can see now having taking those rose colored glasses off.
btw, all done in real time, so nothing can be denied or disputed. I guess that makes me a troll to you all, but worth listening to to those who will at the very least listen to another point of view.
<< <i>So when you make a call for something to go down, and it does, you're a troll...but if you make a call for it to go up, and it does, you're on the bandwagon looking at everything blindly thinking it will continue to run. I think I get the warped logic of you all now. Thanks for making that so clear to understand.
>>
Never mind.
Click on this link to see my ebay listings.
<< <i>
+1
China factor
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<< <i>Dont bother buying over the weekend if you were looking to, everything (PM's) will be cheaper Monday.
China factor >>
You sure?
<< <i>Dont bother buying over the weekend if you were looking to, everything (PM's) will be cheaper Monday.
China factor >>
Its rare that I advise someone to stop posting to their own thread, but it may fit here.
Loves me some shiny!
I knew it would happen.
<< <i>
<< <i>Dont bother buying over the weekend if you were looking to, everything (PM's) will be cheaper Monday.
China factor >>
Its rare that I advise someone to stop posting to their own thread, but it may fit here. >>
HEY! at least the heat is not on me this time!
(x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
mariner67, and Mikes coins
Any thoughts on Tuesday's gold and silver movements?
roadrunner
That info. the Boston Globe gave was wrong. China did not raise rates as they reported. Guess i'll not listen to what they report from now on.
Oh well, glad I was wrong having bought some 90% over the weekend...a small amount. Never said I stopped buying altogether. I just refuse to buy in large quantities at these levels.
But goin forward now. This is Ag's 3rd attempt, or is it 4th, trying to break out beyond the $30-31 level that so many people hyped. Failed 3 times (or is it 4) and nosedove each time some 5-8%...which is a buying opportunity if you have the nads to do so.
But I'll ask again as I have this whole thread, and NO ONE has had a justified and reasonable answer to the simple underlying question.
WHY CANT IT BREAK OUT BEYOND THE HYPED FIGURE OF $30???? TO ME, THAT IS FAILING MISERABLY WHEN YOU TRY SOMETHING 4 TIMES AND CANT GET PAST IT.
Silver did "fail miserably" for the past few years trying to break above $20 for any length of time. Here it is at $29 just a few months after it's last failure. Others might call that a huge success. It could have gotten to $30 by grinding more methodically from 2006 and experiencing no big downturns....but too many people would have rode that wave of success. But it did it in such a choppy fashion that most believed $20 was a wall of steel....and left a huge number of wannabes behind at the $19-21 doorstep. That steel wall turned out to be oat meal. Gold left a ton of people behind at $1045-$1155 who expected a return to $900-$1000. They are still waiting.
roadrunner
Sure, I can see how those of you that are cost avgd. in at around $12 think this action is amazing and to hell if it goes down 5% after a recent 50+% 4 month run. All do not share that fortune and all do not share the long-term approach either. That's all i'm saying, not saying one is right and the other wrong either. Trade it how you please. All i'm saying is how I trade it, it has failed 4 times now at breaking out of the "next level".
Thank you for your civil reply. If only others would follow suit...if only.
WHY CANT IT BREAK OUT BEYOND THE HYPED FIGURE OF $30???? TO ME, THAT IS FAILING MISERABLY WHEN YOU TRY SOMETHING 4 TIMES AND CANT GET PAST IT.
In all seriousness, you contend that $30.00 is a hyped number and then you pose your question. $30.00 isn't a hyped number any more than $32 or $35, which derryb pointed out earlier in this thread, I believe. In fact, it broke $30 and then fell back which is probably a more normal price action for an asset that's had such a powerful runup in such a short time.
On the other hand, because we haven't seen $30.00 for oh, about 30 years - I would postulate that $30 does represent a psychological level in both directions. The reality, I believe - is that $30.00 is only the result of fundamentals which include both monetary & fiscal policy, in addition to the developing physical shortfall and the games Comex plays.
Unfortunately my crystal ball has hazed over or else I'd love to share whats going to happen and there be no doubt. So like all others here, I'm left to speculate. So when I see something try to break out a range 4 times and fail each time, I view that as a failure. Therefore it causes me to be very cautious going forward and what happened last week was clear evidence of what can happen in the blink of an eye nowadays.
Being very cautious going forward is never a bad idea, in fact - one of the more frequent recommendations given here is to "average in". There's another set of posters here who do play the market timing and hair-trigger chart game. Both groups bring valid perspectives to the table.
I can see how those of you that are cost avgd. in at around $12 think this action is amazing
I'd call it "interesting" but before it becomes "amazing" I'd would have to have cashed-out, bought a vacation home in Hawaii and a shack in some undisclosed location, paid for my grandson's education through grad school, and know that I had more than ample funds in my accounts that would not only tide me over for the rest of my life and not be subject to erosion through inflation or any other form of confiscatory government schemes. Now, that would be amazing.
all do not share the long-term approach either. That's all i'm saying, not saying one is right and the other wrong either
Nothin' wrong with either. Long-term is generally "safer" and short-term is generally more volatile. As long as you know how to manage money and don't get in over your head, you are ahead of the crowd. This is a long term bull market in precious metals - until further notice.
All i'm saying is how I trade it, it has failed 4 times now at breaking out of the "next level".
Maybe so, but I wasn't paying attention. I pay more attention to the causal factors than to the price action day-to-day. But that's just me.
No malice intended, but at times your demeanor does set you up for criticism or teasing. Peace, bro.
I knew it would happen.
Today's attempt is still a bit shy of $30 so it doesn't yet count as an attempt. Today's close was the 2nd highest in nearly 31 years. The progress is there. The next teeny step will be a $30 close. Then hopefully a 2nd day with a $30 close.
silver futures chart
roadrunner
No malice intended, but at times your demeanor does set you up for criticism or teasing. Peace, bro
Yeah I know, if I had a 10 oz. silver Engelhard for every time I spoke out on something that wasn't the popular side of the coin, I wouldn't be chirping on a message board. I do tend to take the contrarina side probably 70% of the time. Not to argue, but to show validity to another point of view. Am I always right? Of course not...but at least I can admit it and dont pile on when someone else is wrong. Sorry if I come off abrasive at times, but if taken the time to get to know me, you'd see that I'm really a softy. Guess that's why I wear it on my sleeve at times.
roadrunner
I knew it would happen.
That's why i've been saying the $30 range...so by my view that makes 5 faling attempts now. Not being a smart arse, all jmho. Just want to be clear, I want Ag to run up, I am not shorting it, but I am upset how it has stalled after 55% in 4 months simply because it has reached a certain number.
<< <i>Silver ran to within 2-3 cents of $30 last night which would count as another attempt
That's why i've been saying the $30 range...so by my view that makes 5 faling attempts now. Not being a smart arse, all jmho. Just want to be clear, I want Ag to run up, I am not shorting it, but I am upset how it has stalled after 55% in 4 months simply because it has reached a certain number. >>
My grandfather used to say: "You can't climb Mt. Everest in one day, that's why there are numerous base camps along the climb."
Same holds true with PM's .... you'll reach your goal of breaking the $30 oz barrier.
Exactly...a "certain" number.
The human mind is fragile and full of ghosts and goblins. Round numbers work the same way. Same thing happened at $1000 Dow, $1000 gold, $20 silver, and $30 silver. Get used to it because it has nothing to do with anything but human fixation on "fair" value and "round" numbers. It used to be that <$20 was a "fair" price for silver. Now <$30 is a fair price. It will take some getting used to allow $30+ to become the next "fair" price. Markets should never vaciliate around fair prices. But since the human condition is heavily involved, that's what you get. If computers were doing all the trading completely independent of us, $30 would just be another number. It doesn't help that the FED and Treasury have also fixated on that $30 number as well knowing that J6P assigns special significance to it. To let it go easily would mean less profits for the banks and further erosion of confidence in king dollar.
What changed that allowed it to go from $21 to $30 in short order? Why wasn't that manipulation? Do you want to give back your profits from that run since it was clearly manipulation? It took 16 yrs and 6 attempts to finally break through the psychological resistance of 1000 Dow for good.
This is only the 2nd attempt at $30. The first move was back on Dec 6-7. There have not been 5 moves....just 2 so far. And this current one could last all week...or longer. Don't get caught up in hourly or minute variations in the silver price. To those looking at the bigger picture, the current move to take out $30 is just a continuation of the one from Dec 6-7...same move technically....at least for now.
roadrunner
I think you're onto something there with the human factor and i'm glad to hear someone finally admitting that $30 was hyped all the way.
When the bear overtakes the bull sometime in the future, gold prices will not just freeze where they are, or will it? When Gold reached above $800 in the 1980s it was for a very short time and then went down to around $230/oz at its lowest point in the last two decades.
We don't know where gold or silver will top out at, but how low can they go? I say gold cannot go back down to what it was in the mid to late 1980s $400/oz because the stock market is many times higher than what it was then. Commodities are so much higher than they were in the 1980s, so gold will certainly not be at the 1980s level either.
But why is $1000/oz such a magical number?
BST: Tennessebanker, Downtown1974, LarkinCollector, nendee
Silver ETFs did no exist lat decade and they are a force in the market now.
I appreciate POMs effort to create dialogue, he feels he is shot down for putting something on the table but really its the rather immature tone
of his caustic delivery that triggers the shredding mechanism in more the seasoned stacker.
That being said, in the spirit of casting one's line, I fully expect to pick up some sub $25 silver in the next 3 months.
1. The dollar will strengthen
2. Republican House will clarion pro-biz measures that will drive the markets
3. Unemployment will show signs of easing (slight but positive)
PS: All bets are off if the Koreans start a war.
Loves me some shiny!
hmmm, maybe you didnt read this below. Once again, apparently, it seems that I can't have an opinion and tell a different side...because you've been here longer. And I'm the caustic one? All I do is give what I get.
Sure, I can see how those of you that are cost avgd. in at around $12 think this action is amazing and to hell if it goes down 5% after a recent 50+% 4 month run. All do not share that fortune and all do not share the long-term approach either.
"PS: All bets are off if the Koreans start a war."
We should stay out and turn it into a PPV going to the Debt.
<< <i>
My grandfather used to say: "You can't climb Mt. Everest in one day, that's why there are numerous base camps along the climb."
Same holds true with PM's .... you'll reach your goal of breaking the $30 oz barrier. >>
Interesting quote OPA. While it is true the climbers do not ascend in 1-day, they do descend in 1-day.
Knowledge is the enemy of fear
<< <i>
<< <i>
My grandfather used to say: "You can't climb Mt. Everest in one day, that's why there are numerous base camps along the climb."
Same holds true with PM's .... you'll reach your goal of breaking the $30 oz barrier. >>
Interesting quote OPA. While it is true the climbers do not ascend in 1-day, they do descend in 1-day. >>
Time to start ascending out of this economical hole we in
Here's a man with a plan
<< <i>
Here's a man with a plan
That smile on his face worries me a bit! That's the same look my mortgage banker had when I signed the papers!
(x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
mariner67, and Mikes coins
<< <i>
<< <i>
Here's a man with a plan
That smile on his face worries me a bit! That's the same look my mortgage banker had when I signed the papers! >>
It's called the doggy eating doo-doo grin