Silver dropped below $15 today.

jmski52

Which makes complete sense, for reasons known only to me. You can call it capitulation, but it's really just housecleaning.

Just imagine what would be happening if we weren't $18+ trillion in debt as a country. Never mind the unfunded stuff.

cohodk

Should have joined that dollar camp I started 5 years ago. We still making smores.

CyStater

Because I purchased yesterday. Sorry, should have let you all know so you could plan accordingly and wait until today for the inevitable drop.

bluelobster

I purchased some silver as well yesterday...two 2oz pirate rounds, that I'm going to plant on the the shallow reef while lobstering in the Keys and let the kids find them..that is if shark week and the inevitable shark news overreaction doesn't keep them from the water.

TwoSides2aCoin

This must be why I've been running low on inventory.
I'm slow at backing this truck up.

ricko

Might be time to build the stacks a little higher.... Cheers, RickO

roadrunner

Large cup of java for silver?

Saw this today and thought it was interesting. Not for the bullish side though. The fact that the chart is in log format hides the depth of that "handle." Some chartists feel that handles that retrace more than 62% of the right side of the cup tend to nullify the pattern. Silver has retraced 74% of the previous move up (1993-2011). That's probably no longer a valid "Java" pattern. But, the symmetry in play is still there. Unfortunately, the symmetry on the left side of that cup leads to single digits.

jmski52

Silver's chart might just as well be considered a speculator's Rorschach Test, since the fundamentals are never really known. From 2008 to 2011 there was growing concern that the financial crisis hadn't really been "handled". Since then, everything's been "peachy", as the stock market chart so indicates.

Fundamentals have become so passe' since 1987 and 1999. And especially since 2008!

element159

<< <i>The fact that the chart is in log format hides the depth of that "handle." >>


I am usually of the opinion, that anything EXCEPT log format for prices is hiding the truth. The meaningful changes in prices are relative to previous values (i.e. up 10%, down 20%), and not absolute changes (i.e. up $2, down $3.50). So log format is always the appropriate choice.

cohodk

Rather than say fundamentals don't matter, reconsider your understanding of those fundamentals.

I use log charts sparingly.

Overdate

Platinum is now close to breaking $1000 on the downside.

Timbuk3

PM will continue to drop !!! :-(

OperationButter

Don't think I've seen this big of premium on ase's at apmex buy and sell.

almost $1k...

bluelobster

Coh, you use linear charts more than log?

I agree with element on log charts, that the relative change is much more valuable as a tool than the absolute change.

Almost all linear charts will always look like a spike at some point unless they are US steel

Baley

for me, it depends on both timeframe and the magnitude of the movement.

Linear is fine for short term charts, for most things, and intermediate terms of relatively stable or slow-changing prices, i.e. those with "normal" moves within those time frames.

Log charts work best for exponential growth stories over the long term, imo, when one is talking about the number of hundreds (or thousands) of percents gained (or lost)

topstuf

Linear is path from wallet to seller.

As far as silver...... I'm done with it forever. Still have a few 90% bags and will have til I die.
Silver is too heavy to use for any meaningful asset allocation.

There's CEFs that fill the function although I don't know about how secure they are.
CEF is Canadian and maybe honest.

57loaded

My dad just called and said he was going to let me have all his silver dollars and "old" half-dollars and also the "old silver" his dad and uncle had plus all the dollars from the Tahoe casinos. Dad is over 90.

He had rolled up all the other "old stuff" and was going to just take it to the bank and get bills

I offered face to save him the trip. He wanted to keep all the Indian Heads

Am I going to H$LL?

mariner67

<< <i>My dad just called and said he was going to let me have all his silver dollars and "old" half-dollars and also the "old silver" his dad and uncle had plus all the dollars from the Tahoe casinos. Dad is over 90.

He had rolled up all the other "old stuff" and was going to just take it to the bank and get bills

I offered face to save him the trip. He wanted to keep all the Indian Heads

Am I going to H$LL? >>



For financially taking advantage of your own father?
Probably!

cohodk

<< <i>Coh, you use linear charts more than log?

I agree with element on log charts, that the relative change is much more valuable as a tool than the absolute change.

Almost all linear charts will always look like a spike at some point unless they are US steel >>



I only use them if the price range I am analyzing is more than 4 fold. I rely heavily on trendlines and that doesnt work too well on log charts.

jmski52

My dad just called and said he was going to let me have all his silver dollars and "old" half-dollars and also the "old silver" his dad and uncle had plus all the dollars from the Tahoe casinos. Dad is over 90.

He had rolled up all the other "old stuff" and was going to just take it to the bank and get bills

I offered face to save him the trip. He wanted to keep all the Indian Heads

Am I going to H$LL?

LOL, he likes Indian Heads!

TwoSides2aCoin

I was paying $10 for Silver dollars in the early 70's and selling them for $13 to $15 , just to pay my tuition at an all boys Jesuit school. It was a flip.
Since then, and after 1980 (post military service duty Jimmy Carter era), silver went "flop".

Silver has been part of coin collecting since I remember and I never saw it as a commodity for 'trading' as an investment. For my simple life, it was more something to see as "numismatic". A lot of smarter, richer, more educated, and finer men have tried to sway me other ways.

As an old man, I see the need to divest this money into other asset classes (a safety valve), and even that has it's ups and downs. It (market) goes up, and it goes down. Look at oil. $100+ per barrel and gas costs $4. At $50 per barrel, gas costs $2 per gallon.

There's a floor. Then there's the ground. Then there's a hole. Then there's a shaft.

bluelobster

<< <i>

<< <i>Coh, you use linear charts more than log?

I agree with element on log charts, that the relative change is much more valuable as a tool than the absolute change.

Almost all linear charts will always look like a spike at some point unless they are US steel >>



I only use them if the price range I am analyzing is more than 4 fold. I rely heavily on trendlines and that doesnt work too well on log charts.[/q


Safe too say a lot of trendlines are breaking, PMs and mining indexes, where do you have next support for GDX? It just broke the 2008 Oct low...

guitarwes

<< <i>There's a floor. Then there's the ground. Then there's a hole. Then there's a shaft. >>



She got the goldmine, I got the shaft.

asheland

fc

I am ready to buy at 10!

MacCrimmon

<< <i>

<< <i>There's a floor. Then there's the ground. Then there's a hole. Then there's a shaft. >>



She got the goldmine, I got the shaft. >>




If you've owned NUGT for the last week you've got the shaft ..... DUST, on the other hand.

streeter

" . Look at oil. $100+ per barrel and gas costs $4. At $50 per barrel, gas costs $2 per gallon."


Except in this part of paradise, Sacramento (capital of CAL) just taxed the decline in prices and puts the money in the general fund.

Chevron premium $4.69. Generic regular $4.00. And it's always somebody else's fault.