Home Precious Metals

Judging by todays PM action

OPAOPA Posts: 17,104 ✭✭✭✭✭
My gut feeling is, tomorrow will be a down day. One consolation though, my gut has been wrong more than correct recently.
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."

Comments

  • MeltdownMeltdown Posts: 8,650 ✭✭✭✭✭
    I think that's all the supression power the big boy's have anymore.... down for a week and a steady climb back to the $40's.

    edited for spelling.
  • cohodkcohodk Posts: 18,553 ✭✭✭✭✭
    Its going to be nearly impossible for silver to get to 40 in the next 6 months, and probably longer.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • gsa1fangsa1fan Posts: 5,566 ✭✭✭


    << <i>Its going to be nearly impossible for silver to get to 40 in the next 6 months, and probably longer. >>




    image that's all excuse I need for another bender tonightimage 45 minutes til Miller timeimage
    Avid collector of GSA's.
  • WingsruleWingsrule Posts: 2,977 ✭✭✭✭
    Its going to be nearly impossible for silver to get to 40 in the next 6 months, and probably longer.

    I am very curious. Why would you say that? (trying to learn). Does it have to do with the 'damage' done over the last several days? I have read your recent posts about retracement levels, support levels, etc. Is that what you are basing this on?


  • Its going to be nearly impossible for silver to get to 40 in the next 6 months, and probably longer.

    I don't doubt what you are saying, I would just like to understand how you arrived at that, I read you folks daily and am in awe....what and why these fluctuations in metal prices happen is beyond me, so if you would expand a little on this I'm sure a lot of us would be grateful.

    Respectfully,
    Eric

    ...no spellcheck function, so ....excuse me if ...whatever.
  • pf70collectorpf70collector Posts: 6,503 ✭✭✭
    So a rise a second time is unlikely? Silver dropped from $50 to $32 this year and took only a few months to recover to $40-$42.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    I think will get a zig-zag in both metals. They zigged up to $1677 / $33.50 today. Will probably pull back a ways, then finally zag to a short term high. From then, who knows.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold


  • << <i>Its going to be nearly impossible for silver to get to 40 in the next 6 months, and probably longer. >>



    Isn't this where lots of posters come in and say, "when the masses are saying silver is done, then it will go shooting up".
  • derrybderryb Posts: 36,118 ✭✭✭✭✭
    supply and demand. Are gold and silver supplies increasing or decreasing? Are more people or less people demanding gold and silver in their "portfolio?" The answers to these two questions will determine the intermediate and long term price. The US dollar is a safehaven only in the short term just as it was with the last major crisis in 2008.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • Timbuk3Timbuk3 Posts: 11,658 ✭✭✭✭✭
    I think so, but I hope not !!!
    Timbuk3
  • jmski52jmski52 Posts: 22,305 ✭✭✭✭✭
    Silver has always been volatile. I would judge it's true value as a 2-year moving average, or something in that ballpark.

    Nobody ever seems to have a handle on how much physical silver is really available to the market, and the price is always manipulated. It's a metal that is becoming more important as time goes on, and it's supply sources are relatively insensitive to price - which makes price spikes entirely possible if supplies run short.

    If you really put much money into silver, you need a rhinoceros hide.image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • derrybderryb Posts: 36,118 ✭✭✭✭✭
    The volatility in silver has been greatly increased since the appearance of the ETF SLV. Because of its massive size, SLV action sets the stage for silver price movement. The tail is now wagging the dog.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • OPAOPA Posts: 17,104 ✭✭✭✭✭
    So far, my gut feelings may be correct for a change. Overseas markets as of about 8:30 pm EDT don't look pretty.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • cohodkcohodk Posts: 18,553 ✭✭✭✭✭


    << <i>Its going to be nearly impossible for silver to get to 40 in the next 6 months, and probably longer.

    I don't doubt what you are saying, I would just like to understand how you arrived at that, I read you folks daily and am in awe....what and why these fluctuations in metal prices happen is beyond me, so if you would expand a little on this I'm sure a lot of us would be grateful.

    Respectfully,
    Eric

    ...no spellcheck function, so ....excuse me if ...whatever. >>



    There was just too much damage done to the charts. In fact, since the May breakdown, the internals--volume, accumulation/distribution, ect were lousy. That didnt keep silver from going from 34 to 43, but it set the stage for the incredible selloff. Damage such as we've seen is usually associated with a dramatic change in sentiment. Its going to take some time for confidence to build in order to get investors back into silver.

    Investing isnt so much about fundamentals- which I hear bantered about incessantly- but rather sentiment. Oftentimes sentiment becomes much greater than fundamentals, and oftentimes fundamentals do not live up to their potential. This is why people lose money on great companies and makes money on terrible ones. Its why people lose money on apparent "sure things" and win on longshots.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear



  • << <i>The US dollar is a safehaven only in the short term just as it was with the last major crisis in 2008. >>



    Spot on...mark my word, we'll look back at this period much similar to how we look at Oct-Nov 2008. A good buying opportunity. Fundamentals haven't changed. The raised margins simply allow everyone to buy more for less in a relatively short period of time. -app
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭
    Is it me or am I the only one who thinks this rebound is astounding?!

    The metals were written off down to $1,300-ish. It just goes to show you how resilient these PM's are in general.

    Do we really think that the Germanians have a handle on Greek debt and no other skeletons are in the Euro-Closet? There's much more "elmo" coming.

    My advise of buying the PM dips and selling the stock market surge is for the adept-in-show.

    I was hoping for a nice sideways movement to convince the MINT to reduce some of their future offings.
  • BigEBigE Posts: 6,949 ✭✭✭
    Huge moves in PM's will be the new normal, this is the reason that margins were hiked---------------------BigE

    I'm glad I am a Tree
  • OPAOPA Posts: 17,104 ✭✭✭✭✭


    << <i>Oftentimes sentiment becomes much greater than fundamentals, and oftentimes fundamentals do not live up to their potential. This is why people lose money on great companies and makes money on terrible ones. Its why people lose money on apparent "sure things" and win on longshots. >>



    image

    The "carnage" is continuing. Get ready to load up ---
    When gold falls to below $1600 & silver below $29, that will be my calling card.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."


  • << <i> I would judge it's true value as a 2-year moving average >>




    I Agree !
    NumbersUsa, FairUs, Alipac, CapsWeb, and TeamAmericaPac



  • << <i> Oftentimes sentiment becomes much greater than fundamentals >>



    Sentiment is sometimes quickly changed with a few good up weeks, coupled with a lot of positive financial reporting- the blues fade away,

    and that "I'm being left behind" feeling grabs hold again.
    NumbersUsa, FairUs, Alipac, CapsWeb, and TeamAmericaPac
  • OPAOPA Posts: 17,104 ✭✭✭✭✭
    Getting close to my buy range...gonna see what happens tomorrow..my gut is still growling or is it hunger pains?image
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
Sign In or Register to comment.