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I AM NOT COMPLAINING, it's just an observation & a few questions

piecesofmepiecesofme Posts: 6,669 ✭✭✭
in Precious Metals
Trying to learn and take in other points of view. I PROMISE. Don't start in on me like a bit$h and I wont be one to you.

How many times does silver have to suffer a 1 day 5-6% drop back down to support of what appears to be $16-ish before it finally crashes thru and finds another support level? This is what, 3-4 times now in last few months? And WHY such a sharp fall every time in 1 day when it takes weeks to artificially inflate to $18-something?

It's not going up over $19. $19 might as well be $100, so I'm not even looking at it like that. More of a question for the charties I guess.
To forgive is to free a prisoner, and to discover that prisoner was you.

Comments

  • VanHalenVanHalen Posts: 3,993 ✭✭✭✭✭
    I'm no chart guru but the $1.00 in 8 hour drops (-6%) would have looked pretty dramatic prior to 2008. Nowadays it's hardly given a second look.

    image
  • VanHalenVanHalen Posts: 3,993 ✭✭✭✭✭
  • PerryHallPerryHall Posts: 46,138 ✭✭✭✭✭
    Silver always seems to take a dump after I buy some like I did last week.image

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • hchcoinhchcoin Posts: 4,829 ✭✭✭✭✭
    Because the precious metals markets are manipulated. JP Morgan, government, paper traders, foreign countries, central banks....... you name it. The big boys move the market in the direction they want it to go and when they want it image
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    A 4th time through a major support level (ie draw a line) is usually the final straw. From 2013-2014 it took silver 4 tries over 14 months to finally bust under the $19 level. And today's drop was effectively a 4th (or 5th) time trying to bust through the Nov-February uptrend line. So probably more bearishness to come out of today's dip if silver doesn't quickly recover back above $16.75.

    It's also just as true that the HFT algo's are quite aware of these support/resistance zones and will purposely break them to pick up as many stop losses as they can.....before they soon reverse the break and take out all the fresh positions that bought the head fake.
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • dbcoindbcoin Posts: 2,200 ✭✭
    ever hear that "commodities take the stairway up and the elevator down"?
  • streeterstreeter Posts: 4,312 ✭✭✭✭✭
    The sizzles off the steak with silver.

    Hope springs eternal I suppose but after something has made its run, it settles into the old price trend. Any uptick just gives hope but we will see silver revert to its true usage value shortly. Ten bucks folks.
    Have a nice day
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    It's also just as true that the HFT algo's are quite aware of these support/resistance zones and will purposely break them to pick up as many stop losses as they can.....before they soon reverse the break and take out all the fresh positions that bought the head fake

    Now that makes alot of sense, I mean that seriously. makes perfect sense, so in this sense, there is tolerated and apparently lawful manipulation happening whenever big players want to make a new market. Is that it in laymans terms?
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • Timbuk3Timbuk3 Posts: 11,658 ✭✭✭✭✭
    Ditto to all !!! :-)
    Timbuk3
  • VanHalenVanHalen Posts: 3,993 ✭✭✭✭✭
    I'm still waiting for honest $350 tubes of ASEs. Not like those noted in recent BST threads. image

    Anyway, Ag would need to fall to $15.00 for those tubes to become a reality. We've been close, maybe this spring? image
  • cohodkcohodk Posts: 19,129 ✭✭✭✭✭
    I am a buyer.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • TwoSides2aCoinTwoSides2aCoin Posts: 44,294 ✭✭✭✭✭
    I was buying in the 70's at $5, in the 80's at $5, in the 90's at $5, in the new millennium it went all the way to $15 in 2007. I was buying at $45 in 2011. I was buying at $30 in 2012. I was buying at $20 in 2013. I was buying at $15 in 2014.

    I was selling , too.

    Hard to find active traders throughout the decades.
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