Originally posted by: pitboss Nice looking chart. What I saw today was a little bit of profit taking.
What you saw was a drop in the price of oil and an increase in value of the dollar against other currencies along with some profit taking. Oil & the dollar, as of now, are the major driving force.
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
"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
Don't focus too heavily on the GSR to indicate overall PM performance. Use it strictly as a guide to determine which of the metals is currently under (or over) priced when compared to the other metal. Let it tell you where the best buy is. GSR can rise or fall in both a PM buying or selling environment.
GSR simply indicates that silver is outperforming gold right now, something I and many others indicated would happen. GSR is still quite high indicating that silver is by far still the better bargain of the two.
While silver is making short term highs, gold remains slightly below its April high.
Isn't gold outperforming silver by a large margin YTD?
mark
Walker Proof Digital Album Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Don't focus too heavily on the GSR to indicate overall PM performance. Use it strictly as a guide to determine which of the metals is currently under (or over) priced when compared to the other metal. Let it tell you where the best buy is. GSR can rise or fall in both a PM buying or selling environment.
GSR simply indicates that silver is outperforming gold right now, something I and many others indicated would happen. GSR is still quite high indicating that silver is by far still the better bargain of the two.
While silver is making short term highs, gold remains slightly below its April high.
Isn't gold outperforming silver by a large margin YTD?
mark
GSR has come down from a YTD high of 83 to a current 74. Reduction says that while gold has done well, silver has outperformed gold YTD looking at percentage gained by each metal. If gold were performing better than silver it would result in a higher GSR - this is how the GSR got to 83. A high GSR told us silver should outperform. 74 is still high, so expect silver to continue to outperform. Not rocket science but GSR is still a good indicator.
"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
Don't focus too heavily on the GSR to indicate overall PM performance. Use it strictly as a guide to determine which of the metals is currently under (or over) priced when compared to the other metal. Let it tell you where the best buy is. GSR can rise or fall in both a PM buying or selling environment.
GSR simply indicates that silver is outperforming gold right now, something I and many others indicated would happen. GSR is still quite high indicating that silver is by far still the better bargain of the two.
While silver is making short term highs, gold remains slightly below its April high.
Isn't gold outperforming silver by a large margin YTD?
Originally posted by: Baley the moon, huh? how much is that?
It reminds me of that big firework that just goes pop and fizzles out
We are still $1.30 above the breakout at $16.20 and most predictions including this thread were calling for a dip back down to $16.20 or less before another run up past $18 (resistance). We will see if that prediction comes true.
That's what makes this such a fun ride. It is a roller coaster!
Will anyone be so bold as to predict $20+ by early summer?
Originally posted by: Baley the moon, huh? how much is that?
It reminds me of that big firework that just goes pop and fizzles out
We are still $1.30 above the breakout at $16.20 and most predictions including this thread were calling for a dip back down to $16.20 or less before another run up past $18 (resistance). We will see if that prediction comes true.
That's what makes this such a fun ride. It is a roller coaster!
Will anyone be sold bold as to predict $20+ by early summer?
Your comment forced me to re read this thread and I found only 1 poster who indicated a dip back below or down to $16.20...What do you mean "by most predictions including this thread?" Early summer? $18.50
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
Originally posted by: Baley the moon, huh? how much is that?
It reminds me of that big firework that just goes pop and fizzles out
We are still $1.30 above the breakout at $16.20 and most predictions including this thread were calling for a dip back down to $16.20 or less before another run up past $18 (resistance). We will see if that prediction comes true.
That's what makes this such a fun ride. It is a roller coaster!
Will anyone be sold bold as to predict $20+ by early summer?
Your comment forced me to re read this thread and I found only 1 poster who indicated a dip back below or down to $16.20...What do you mean "by most predictions including this thread?" Early summer? $18.50
I visit other precious metals forums and this seems to be the consensus right now. I posted in the thread the comment about going to the breakout level ($16.20) and derryb predicted $14.75 on 4/24. Here is the chart I posted.
heh, you're right, Baley. I got my wires crossed. Anymore, I'm dubious that we'll have a repeat of 1980 and the numbers aren't comparable at this point anyhow.
The sentiment doesn't seem much like 1980, but maybe I'm looking at it from a different perspective. I don't think they stretched monetary policy then like they are doing now.
The phrase "taking away the punchbowl" did exist before 1980, but it seems that nobody wants to do that now. Back then it was recognized as necessary in order to preserve the integrity of the monetary system. Not so much now.
The politicians never think that these things apply to their own doings and that this time it's all under control because they are so much smarter now. If anything, I think they are dumber now. We shall see.
Q: Are You Printing Money? Bernanke: Not Literally
The fact that silver is up over the course of the past couple quarters is merely a testament to the fact that we've reached a floor of around $15 when everyone said it would go to $10. And we found a floor for gold in the same way. Many claimed it would go below $1000. The question remains : Who is prepared for the day, the week, the month, the year, or the decade ahead ?
When the weatherman can screw up every day, keep his job, and make more than minimum wage, we are in the land of plenty. Plenty of dummies.
Originally posted by: derryb I believe silver is now in a position for a big retreat. Recent buying frenzy makes it currently over bought. But, I've been wrong many times before. (chart goes back to 2006)
derryb....Good call....however, I'm not so sure about your possible retreat back to $14.25
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
Like I stated earlier, I am not an expert on technical analysis and the consensus on various precious metal forums that I look at is that silver will get back down close to $16.20. Here are the technical signs:
1. Inverted head and shoulders with breakout around $16.20 in April. Chart shows price will fall back to around $16.20 before it makes another move up.
2. The neckline of the inverted head and shoulders coincides with the weekly moving average as seen on the chart below. This is an area of strong support around $16.20. This is the point where the red moving average line is right now.
3. Looking at the long term trend on the chart, from late 2012 till late 2015, we experienced a series of highs being lower than the previous highs. These are the tops of the highs over that period. Every one is lower than the previous top. This pattern finally reversed itself in April as the high actually broke out and was higher than the previous high with an increase in volume. This was a strong signal that silver had hit a bottom and reversed course.
Source: barchart.com
If you believe in the charts, we should be buying at this level because the next breakout level should be around $20.
As others have stated on this thread, who knows what is really going to happen. It is fun though trying to predict prices and see if they come true.
Originally posted by: Baley the moon, huh? how much is that?
It reminds me of that big firework that just goes pop and fizzles out
We are still $1.30 above the breakout at $16.20 and most predictions including this thread were calling for a dip back down to $16.20 or less before another run up past $18 (resistance). We will see if that prediction comes true.
That's what makes this such a fun ride. It is a roller coaster!
Will anyone be so bold as to predict $20+ by early summer?
The recent turn of events has made the technical analysts look brilliant. The reverse head and shoulders breakout at $16.20, the rise and then fall back to the $16.20 range and then the run up past $18. $20 doesn't seem that far off now. I guess even a blind squirrel finds a nut every once and awhile
The recent turn of events has made the technical analysts look brilliant. The reverse head and shoulders breakout at $16.20, the rise and then fall back to the $16.20 range and then the run up past $18. $20 doesn't seem that far off now. I guess even a blind squirrel finds a nut every once and awhile
Nice charting Hchcoin. The majority are still stuck in the mindset of the 5 year bear market where every rally eventually was retraced. They just can't "believe" such a chart with a positive outcome.
Comments
Nice looking chart. What I saw today was a little bit of profit taking.
What you saw was a drop in the price of oil and an increase in value of the dollar against other currencies along with some profit taking. Oil & the dollar, as of now, are the major driving force.
"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
Gold to silver ratio is on the move
Could this be it?
Don't focus too heavily on the GSR to indicate overall PM performance. Use it strictly as a guide to determine which of the metals is currently under (or over) priced when compared to the other metal. Let it tell you where the best buy is. GSR can rise or fall in both a PM buying or selling environment.
GSR simply indicates that silver is outperforming gold right now, something I and many others indicated would happen. GSR is still quite high indicating that silver is by far still the better bargain of the two.
While silver is making short term highs, gold remains slightly below its April high.
Isn't gold outperforming silver by a large margin YTD?
mark
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Gold to silver ratio is on the move
Could this be it?
Don't focus too heavily on the GSR to indicate overall PM performance. Use it strictly as a guide to determine which of the metals is currently under (or over) priced when compared to the other metal. Let it tell you where the best buy is. GSR can rise or fall in both a PM buying or selling environment.
GSR simply indicates that silver is outperforming gold right now, something I and many others indicated would happen. GSR is still quite high indicating that silver is by far still the better bargain of the two.
While silver is making short term highs, gold remains slightly below its April high.
Isn't gold outperforming silver by a large margin YTD?
mark
GSR has come down from a YTD high of 83 to a current 74. Reduction says that while gold has done well, silver has outperformed gold YTD looking at percentage gained by each metal. If gold were performing better than silver it would result in a higher GSR - this is how the GSR got to 83. A high GSR told us silver should outperform. 74 is still high, so expect silver to continue to outperform. Not rocket science but GSR is still a good indicator.
"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
Gold to silver ratio is on the move
Could this be it?
Don't focus too heavily on the GSR to indicate overall PM performance. Use it strictly as a guide to determine which of the metals is currently under (or over) priced when compared to the other metal. Let it tell you where the best buy is. GSR can rise or fall in both a PM buying or selling environment.
GSR simply indicates that silver is outperforming gold right now, something I and many others indicated would happen. GSR is still quite high indicating that silver is by far still the better bargain of the two.
While silver is making short term highs, gold remains slightly below its April high.
Isn't gold outperforming silver by a large margin YTD?
mark
FYI...YTD gains................Gold +18% ...............Silver +24%
CC
Sort of looks like it's coming back to earth today...slowly...
CC
It can't go up everyday...
Liberty: Parent of Science & Industry
the moon, huh? how much is that?
It reminds me of that big firework that just goes pop and fizzles out
We are still $1.30 above the breakout at $16.20 and most predictions including this thread were calling for a dip back down to $16.20 or less before another run up past $18 (resistance). We will see if that prediction comes true.
That's what makes this such a fun ride. It is a roller coaster!
Will anyone be so bold as to predict $20+ by early summer?
the moon, huh? how much is that?
It reminds me of that big firework that just goes pop and fizzles out
We are still $1.30 above the breakout at $16.20 and most predictions including this thread were calling for a dip back down to $16.20 or less before another run up past $18 (resistance). We will see if that prediction comes true.
That's what makes this such a fun ride. It is a roller coaster!
Will anyone be sold bold as to predict $20+ by early summer?
Your comment forced me to re read this thread and I found only 1 poster who indicated a dip back below or down to $16.20...What do you mean "by most predictions including this thread?" Early summer? $18.50
the moon, huh? how much is that?
It reminds me of that big firework that just goes pop and fizzles out
We are still $1.30 above the breakout at $16.20 and most predictions including this thread were calling for a dip back down to $16.20 or less before another run up past $18 (resistance). We will see if that prediction comes true.
That's what makes this such a fun ride. It is a roller coaster!
Will anyone be sold bold as to predict $20+ by early summer?
Your comment forced me to re read this thread and I found only 1 poster who indicated a dip back below or down to $16.20...What do you mean "by most predictions including this thread?" Early summer? $18.50
I visit other precious metals forums and this seems to be the consensus right now. I posted in the thread the comment about going to the breakout level ($16.20) and derryb predicted $14.75 on 4/24. Here is the chart I posted.
I knew it would happen.
186,000 miles to the moon. Do we have liftoff?? That would be interesting.
thought it was closer to about 230,100 miles from the earth to the moon.
186,000 is about how many miles light travels in a second
Liberty: Parent of Science & Industry
Liberty: Parent of Science & Industry
The sentiment doesn't seem much like 1980, but maybe I'm looking at it from a different perspective. I don't think they stretched monetary policy then like they are doing now.
The phrase "taking away the punchbowl" did exist before 1980, but it seems that nobody wants to do that now. Back then it was recognized as necessary in order to preserve the integrity of the monetary system. Not so much now.
The politicians never think that these things apply to their own doings and that this time it's all under control because they are so much smarter now. If anything, I think they are dumber now. We shall see.
I knew it would happen.
When the weatherman can screw up every day, keep his job, and make more than minimum wage, we are in the land of plenty. Plenty of dummies.
Silver prices decline as dollar rallies
I believe silver is now in a position for a big retreat. Recent buying frenzy makes it currently over bought. But, I've been wrong many times before. (chart goes back to 2006)
derryb....Good call....however, I'm not so sure about your possible retreat back to $14.25
1. Inverted head and shoulders with breakout around $16.20 in April. Chart shows price will fall back to around $16.20 before it makes another move up.
2. The neckline of the inverted head and shoulders coincides with the weekly moving average as seen on the chart below. This is an area of strong support around $16.20. This is the point where the red moving average line is right now.
3. Looking at the long term trend on the chart, from late 2012 till late 2015, we experienced a series of highs being lower than the previous highs. These are the tops of the highs over that period. Every one is lower than the previous top. This pattern finally reversed itself in April as the high actually broke out and was higher than the previous high with an increase in volume. This was a strong signal that silver had hit a bottom and reversed course.
Source: barchart.com
If you believe in the charts, we should be buying at this level because the next breakout level should be around $20.
As others have stated on this thread, who knows what is really going to happen. It is fun though trying to predict prices and see if they come true.
the moon, huh? how much is that?
It reminds me of that big firework that just goes pop and fizzles out
We are still $1.30 above the breakout at $16.20 and most predictions including this thread were calling for a dip back down to $16.20 or less before another run up past $18 (resistance). We will see if that prediction comes true.
That's what makes this such a fun ride. It is a roller coaster!
Will anyone be so bold as to predict $20+ by early summer?
The recent turn of events has made the technical analysts look brilliant. The reverse head and shoulders breakout at $16.20, the rise and then fall back to the $16.20 range and then the run up past $18. $20 doesn't seem that far off now. I guess even a blind squirrel finds a nut every once and awhile
The recent turn of events has made the technical analysts look brilliant. The reverse head and shoulders breakout at $16.20, the rise and then fall back to the $16.20 range and then the run up past $18. $20 doesn't seem that far off now. I guess even a blind squirrel finds a nut every once and awhile
Nice charting Hchcoin. The majority are still stuck in the mindset of the 5 year bear market where every rally eventually was retraced. They just can't "believe" such a chart with a positive outcome.