Next move up in Silver overdue Could explode to the

NumbersUsacom · May 7, 2012 1:03PM

Upside at any moment. May regain the $38-$41 level during this next move up

jdimmick · May 7, 2012 5:39PM

wont happen

ricko · May 7, 2012 8:32PM

I believe it will happen... not sure when.... could be several months away. Cheers, RickO

OPA · May 7, 2012 8:44PM

Not gonna happen today. Silver broke the $30 barrier. Continuing it's down slide.

PerryHall · May 7, 2012 8:49PM

How many of these predictions here are just wishful thinking? Actually, I think time is on the side of silver with the rising national debt and the future inflation to take care of this debt.

tneig · May 7, 2012 11:20PM

I guess longterm buyers should be happy, unless one needs to cash out for $needs. Guess it means the dollar/economy is doing better temporarily, which is good, including the PM prices going down for buyers. I'm glad to see gold finally take a noticeable dip this am, and I hope to take advantage. I think its still got some declining to do, but no one knows, how far before it swings back.

I assume there is no reason that the very long upswing in the PM charts won't be continuing overall, discounting a hugh amount of hype in the last year which helps to fuel these swings and dips. I assume most dollar/economy/demand conditions are about the same which have driven PMs up over the last 20 years. So, just like the dec11/jan12 dip down to $26, its a good time to buy, especially for us long termers. Silver still has a unrealized, unique growth potential because of the gold price. Also, definitely biased by my wishful thinking, over the top of my logic and plan.

Still Unsettling to watch what I have go down, so I lean on my ongoing plan.

cohodk · May 7, 2012 11:29PM

assume there is no reason that the very long upswing in the STOCK charts won't be continuing overall, discounting a hugh amount of hype in the last year which helps to fuel these swings and dips

Fixed it for ya. Something I heard in 2002.

NumbersUsacom · May 8, 2012 12:17AM

Most all upswings are born out of a one day spike down.

DrBuster · May 8, 2012 12:29AM

Metals are getting pounded today.

DeepCoin · May 8, 2012 12:46AM

New silver mines will be coming online and with a price of $5 an ounce to extract it, including energy prices, I don't think the long term will be an upward trend. Just MHO.

jmski52 · May 8, 2012 12:47AM

I keep pondering what factors would cause silver to explode to the upside. About the only thing I can think of that would cause an upside explosion in the price of silver is a failure to delivery on the Comex, coupled with a few articles in the WSJ about silver's inelasticity of demand.

We already know about the manipulation.

NumbersUsacom · May 8, 2012 1:15AM

QE3 to help save Obama is on the way..... The Bersnake has already stated that if there is a reversion into recessionary territory he is ready to get the blades rotating and deliver promptly monetary ease throughout the land.

jmski52 · May 8, 2012 1:28AM

Silver reacts to a feeling of general euphoria in the market. It's going to take alot of QE to make that happen. I'm not saying it won't happen, in fact it might. Silver's always been a volatile little sucker, and I don't think that has changed.

The other thing that silver reacts to is panic over making a quick buck, caused by a consensus that true price inflation is taking place. If enough QE is thrown into the mix, and if people start talking about "buying now" instead of "buying later", then silver will be off to the races. It's getting harder and harder for the Fed to stimulate that type of consumer activity, I think.

Like I said, it's going to take alot of fairly obvious QE to move this market. And since it is an election year, that may happen.

Picking a place to exit silver gracefully while maintaining the gains will be a much harder task than buying in. All the more reason to stack over time.