Near term key reversal for metals?

bluelobster

Sure looks like a possibility, especially for silver. Volume seems to be there.

As usual, time will tell.

mariner67

Up like a rocket now!

mrearlygold

key reversal? So you believe we'll see a retracement back to what, 5 bucks?


( P.S. Let me just state that I have always thought silver was overpriced after hitting 7 bucks. )

bluelobster

<< <i>key reversal? So you believe we'll see a retracement back to what, 5 bucks?


( P.S. Let me just state that I have always thought silver was overpriced after hitting 7 bucks. ) >>




?

mrearlygold

??

guitarwes

???

mrearlygold

????

VanHalen

<< <i>key reversal? So you believe we'll see a retracement back to what, 5 bucks?


( P.S. Let me just state that I have always thought silver was overpriced after hitting 7 bucks. ) >>





I thought it was overpriced after hitting 27 bucks. Thought the same thing about oil............

GRANDAM

So is anybody really selling at these prices or is it all just a big game

GrandAm

DrBuster

<< <i>So is anybody really selling at these prices or is it all just a big game

GrandAm >>



My dude at my local shop said NOBODY has been selling him anything when I went last week. He's begging for stuff to come in but he can't buy at these levels.

mrearlygold

Doesn't really matter what the retail public is doing. What matters is what the traders are doing with the big $$. We won't know that till after it happens, maybe. Anyone know what's going on there? Otherwise

bluelobster

Can you say BETA?
The key reversal that flashed yesterday, is in danger of being swallowed whole today.

If the lows from yesterday hold, could still have at least short term bottom, but this kind of volatility is a few standard deviations away from the norm.
Should get interesting, but short term trading it right now, is not for widows and orphans, or most for that matter.

roadrunner

<< <i>Doesn't really matter what the retail public is doing. What matters is what the traders are doing with the big $$. We won't know that till after it happens, maybe. Anyone know what's going on there? Otherwise >>



Of course it matters as the paper and physical markets are different markets. If you want to buy metals in bulk quantity (ie tonnes of gold) you can forget the NY or London paper
prices. That kind of qty sells for stiff premiums, if you can find it. The day is coming where the paper markets will not determine the prices of gold and silver. I suspect the paper
markets will either go away or be totally revamped to be cash only markets (ie no margin).

57loaded

RR - doesn't volitility increase margins?

So if things go south or fly north for that matter why would margins go to zero? Am I out of my realm again?

roadrunner

<< <i>RR - doesn't volitility increase margins?

So if things go south or fly north for that matter why would margins go to zero? Am I out of my realm again? >>




What you said is correct. But by increasing margin % means that contract price heads towards 100% cash up front. No more 4-1 to 8-1 leverage or whatever it is, but 1-1.
And at that point, the future's market is sort of superfluous. No more margin trading. And once Comex empties its vaults of gold.....no more gold trading.