WSJ - Silver Surges Into Bull Market
ShinyThingsInPM
Posts: 456 ✭✭
Article in WSJ
Silver settled in bull-market territory, while gold set a fresh eight-week high, as concerns about violence in Egypt and losses in equity markets led investors to buy haven assets.
Silver for September delivery, the most active contract, rose $1.148, or 5.3%, to settle at $22.935 a troy ounce on the Comex division of the New York Mercantile Exchange.
The contract is up 24% from its June settlement low of $18.553, placing it firmly in bull-market territory—defined as a roughly 20% rise off a recent low.
Silver settled in bull-market territory, while gold set a fresh eight-week high, as concerns about violence in Egypt and losses in equity markets led investors to buy haven assets.
Silver for September delivery, the most active contract, rose $1.148, or 5.3%, to settle at $22.935 a troy ounce on the Comex division of the New York Mercantile Exchange.
The contract is up 24% from its June settlement low of $18.553, placing it firmly in bull-market territory—defined as a roughly 20% rise off a recent low.
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Comments
I knew it would happen.
<< <i>$65.00/oz. is bull market territory. Everything else is just white noise. >>
All in due time. It's not time yet.
@jmski52 $65.00/oz. is bull market territory
It all depends on the time frame, it would be 300% increase
In 3 weeks - it's irrational exuberance
In 3 months - it's a bubble
In 3 years - it's a bull market
In 30 years - its an opportunity loss
<< <i>Article in WSJ
Silver settled in bull-market territory, while gold set a fresh eight-week high, as concerns about violence in Egypt and losses in equity markets led investors to buy haven assets.
Silver for September delivery, the most active contract, rose $1.148, or 5.3%, to settle at $22.935 a troy ounce on the Comex division of the New York Mercantile Exchange.
The contract is up 24% from its June settlement low of $18.553, placing it firmly in bull-market territory—defined as a roughly 20% rise off a recent low. >>
Who writes this crap? Anyone who bought silver in the last 3 years has lost money.
Knowledge is the enemy of fear
<< <i>Who writes this crap? Anyone who bought silver in the last 3 years has lost money. >>
I bought silver last week, I made money.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>.... Anyone who bought silver in the last 3 years has lost money. >>
Even us dealers who's inventories were added up in paper dollars. Since May of 2011 .... if any silver in inventory (as commodities go), just sat there, it has lost 50% of it's value.
People who are not cognizant of the WHOLE deal, won't see clearly. Especially those "hanging their hat" on the "market's" odd swings.
This is why numismatics is vital to my survival in the game of metal. Thank goodness for a fair enough hobby that enriches those with good eyes , and ears.
Might need to flip some on the next major dip though. People like buying pms for bitcoins/litecoins now days.
An observation: it seems like part-time dealers are dominating many of the threads on the PM forum. Dealers always make money on the spread, though dollar volume tends to be much higher during roaring bull markets.
<< <i>Dead cat bounce is the more appropriate animal adjective.
An observation: it seems like part-time dealers are dominating many of the threads on the PM forum. Dealers always make money on the spread, though dollar volume tends to be much higher during roaring bull markets. >>
I became a successful part time dealer (to fund my stacking) because of the wisdom shared here by the established part-time dealers. I for one hope they continue to share their knowledge, experience and opinion. I believe you will find part time dealers contributing to many of the threads on the other PCGS forums where their input is welcomed. Although it is not always the best, I hope that my input is welcomed and I share it to repay what I have learned and I hope to help others prosper. I also expect all input here to be carefully weighed against that of others not only on the forum but elsewhere out there in the airwaves. Your belief that "dealers always make money on the spread" should encourage stackers to also part-time deal in metals. In order to successfully do so they should welcome the input of others, but at the same time learn to develop their own opinion and market outlook based on what they have learned.
Dead cat bounce? While I expect at least one more dip, I wouldn't call it that. There are good reasons for the "bounce," sign of a healthy marketplace. Dealers only make money on the spread if the spot price is not less than when they bought; they lose there spread when spot loses its price. The profit for part time dealers lies in the increase in spot - currently a gamble.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>I wish gold would either run up to 1550 or tank to 1150. This jackin around at 1350 is BS. >>
Where were you when it dipped below $1200?
<< <i>
<< <i>I wish gold would either run up to 1550 or tank to 1150. This jackin around at 1350 is BS. >>
Where were you when it dipped below $1200? >>
I think after the Hunt Bros. saga in the early 80's
Silver stabilized around $5 to $10 for about 25 years. Correct me if I'm wrong.
I became a successful part time dealer (to fund my stacking) because of the wisdom shared here by the established part-time dealers. I for one hope they continue to share their knowledge, experience and opinion. I believe you will find part time dealers contributing to many of the threads on the other PCGS forums where their input is welcomed. Although it is not always the best, I hope that my input is welcomed and I share it to repay what I have learned and I hope to help others prosper. I also expect all input here to be carefully weighed against that of others not only on the forum but elsewhere out there in the airwaves. Your belief that "dealers always make money on the spread" should encourage stackers to also part-time deal in metals. In order to successfully do so they should welcome the input of others, but at the same time learn to develop their own opinion and market outlook based on what they have learned.
Thank you, by far the best post I've read today
<< <i>
<< <i>Article in WSJ
Silver settled in bull-market territory, while gold set a fresh eight-week high, as concerns about violence in Egypt and losses in equity markets led investors to buy haven assets.
Silver for September delivery, the most active contract, rose $1.148, or 5.3%, to settle at $22.935 a troy ounce on the Comex division of the New York Mercantile Exchange.
The contract is up 24% from its June settlement low of $18.553, placing it firmly in bull-market territory—defined as a roughly 20% rise off a recent low. >>
Who writes this crap? Anyone who bought silver in the last 3 years has lost money. >>
Whoa, not if you bought it at 19.00 or so over the past 8 weeks. It was a great opportunity to catch this current run.
<< <i> Anyone who bought silver in the last 3 years has lost money. >>
You just sold your recent catch to soon. Made money, but left a lot on the table. Hope you got back in again when it retraced. The short term trades seem to always miss the bigger moves.
That's why the monthly is my go to chart. Then the Quarterly, Weekly, Daily and Hourly. But the weekly, daily and hourly are only for fine tuning the entry and exit times.
The monthly is best for determining a trade for mid to long term. That can mean 2 weeks to 3+ years.
<< <i>Dead cat bounce is the more appropriate animal adjective.
>>
All major and or good sized moves started as what seemed to be or perceived as a "dead cat bounce", but I fully appreciate your warning and potentialy prophetic statement
<< <i>
<< <i>I wish gold would either run up to 1550 or tank to 1150. This jackin around at 1350 is BS. >>
Where were you when it dipped below $1200? >>
Waiting for $1100!! I really expected it to get there.
<< <i>
<< <i>Who writes this crap? Anyone who bought silver in the last 3 years has lost money. >>
I bought silver last week, I made money. >>
Didnt make until you sell.
Knowledge is the enemy of fear
<< <i>
<< <i>Dead cat bounce is the more appropriate animal adjective.
>>
All major and or good sized moves started as what seemed to be or perceived as a "dead cat bounce", but I fully appreciate your warning and potentialy prophetic statement >>
Bear market bounces are always violent. Lets hope PMs are transitioning from the brutal bear market into a sideways consolidation.
Knowledge is the enemy of fear
I knew it would happen.
<< <i>Who writes this crap? Anyone who bought silver in the last 3 years has lost money. >>
Somebody has to write something and so they do. Sometimes its good. Sometimes its a rehash of what others are saying. Sometimes it is even worst.
Its always really about the "Contrast to the Current Situation" that catches they eye, and gets the writer a paycheck or is promoting something for profit.
The Odds of the information being Correct for YOU are about the same odds as predicting spot.
<< <i>
<< <i>
<< <i>Who writes this crap? Anyone who bought silver in the last 3 years has lost money. >>
I bought silver last week, I made money. >>
Didnt make until you sell.
flipped it at a profit for a mint purchase.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>I wish gold would either run up to 1550 or tank to 1150. This jackin around at 1350 is BS. >>
agreed, stability is a good thing. (fwiw)
<< <i>
<< <i>
<< <i>Who writes this crap? Anyone who bought silver in the last 3 years has lost money. >>
I bought silver last week, I made money. >>
Didnt make until you sell.
And those who bought silver in the last 3 years haven't lost until they sell either.