Silver is about to take off to the moon..........:)

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hchcoin
hchcoin Posts: 4,843 ✭✭✭✭✭
in Precious Metals
I don't know a lot about technical analysis but this sure looks like a reverse head and shoulders breakout is about to occur at $16.20 silver.

1 Year Silver

Doesn't this signal an upward move is coming?

What does everyone think? Do you believe in charts? What do you see?

Let's liven this place up a little bit.
«13

Comments

  • derryb
    derryb Posts: 38,605 ✭✭✭✭✭
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    charts are like clouds - one see what one wants to see. Pick any point on your chart, block the remainder from view and see if you could correctly "predict" what was going to happen. Sometimes you are correct, sometimes you are not.

    Charts serve two purposes for me: They show me historical pricing and when used with a another chart or piece of data, they show me relationships. Understanding and evaluating what drives prices is more reliable than trying to understand and evaluate price performance based strictly on the past performance. Past performance data is only of value to future guesswork when one is able to identify what caused the movement AND able to note it's reappearance. The earlier done, the more worms the bird gets.

    In simple terms, it is a matter of understanding and evaluating cause and effect.

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • OPA
    OPA Posts: 17,166 ✭✭✭✭✭
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    If charts could predict the future, we'd all be rich.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • hchcoin
    hchcoin Posts: 4,843 ✭✭✭✭✭
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    Come on, where are my technical analysts?
  • derryb
    derryb Posts: 38,605 ✭✭✭✭✭
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    Originally posted by: hchcoin
    Come on, where are my technical analysts?

    analyzing their losses? image

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • hchcoin
    hchcoin Posts: 4,843 ✭✭✭✭✭
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    Originally posted by: derryb
    Originally posted by: hchcoin
    Come on, where are my technical analysts?

    analyzing their losses? image


    That was good. Made me laugh out loud!
  • tneig
    tneig Posts: 1,505 ✭✭✭
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    What would the average stacker do with a years projection.....?

    -If it were going up, what would you do then? (Did you do it last time?)
    -If it were going down, what would you do then? (Did you do it last time?)
    COA
  • Overdate
    Overdate Posts: 7,318 ✭✭✭✭✭
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    All I see is a bunch of squiggly lines. I can't tell which is the head and which are the shoulders.

    The chart covers a fairly narrow price range. High of $17.60 and low of $13.70. Most stocks have more price variance than that over the course of a year.

    The chart makes the price movement look more dramatic because the the upper and lower bounds track the high and low for the year. If the chart were drawn with prices from $0 to $20 the price movement would look much less interesting.

    Given all the currency manipulation by the world's central banks, I think charts are kind of useless for precious metals.

  • mariner67
    mariner67 Posts: 2,746 ✭✭✭
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    "All I see is a bunch of squiggly lines. I can't tell which is the head and which are the shoulders."

    I think I see an eye!
    image
    Successful trades/buys/sells with gdavis70, adriana, wondercoin, Weiss, nibanny, IrishMike, commoncents05, pf70collector, kyleknap, barefootjuan, coindeuce, WhiteTornado, Nefprollc, ajw, JamesM, PCcoins, slinc, coindudeonebay,beernuts, and many more
  • RedneckHB
    RedneckHB Posts: 20,236 ✭✭✭✭✭
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    Originally posted by: derryb
    Originally posted by: hchcoin
    Come on, where are my technical analysts?

    analyzing their losses? image


    See sig line. LMFAO too!! image
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • hchcoin
    hchcoin Posts: 4,843 ✭✭✭✭✭
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    O.K. all you naysayers. Have you seen the price of silver and gold today? It's up almost 5% this morning. Wow!

    Can't a guy just dream that this is finally the takeoff image
  • PerryHall
    PerryHall Posts: 47,752 ✭✭✭✭✭
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    Originally posted by: hchcoin

    O.K. all you naysayers. Have you seen the price of silver and gold today? It's up almost 5% this morning. Wow!



    Can't a guy just dream that this is finally the takeoff image




    Takeoff will happen when you least expect it.

    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

  • derryb
    derryb Posts: 38,605 ✭✭✭✭✭
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    Originally posted by: hchcoin
    O.K. all you naysayers. Have you seen the price of silver and gold today? It's up almost 5% this morning. Wow!

    Can't a guy just dream that this is finally the takeoff image


    The take-off you seek will be preceded by some shattering, very bad news. Otherwise it's business as usual - some days peanuts, some days shells. This morning's serving is spicy, boiled.

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • OPA
    OPA Posts: 17,166 ✭✭✭✭✭
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    Originally posted by: hchcoin
    O.K. all you naysayers. Have you seen the price of silver and gold today? It's up almost 5% this morning. Wow!

    Can't a guy just dream that this is finally the takeoff image


    Yup...nice 5% move, but charts didn't cause the move. Other factors such as oil up & the dollar down against major indices. You'll be paying more at the pump and your accumulated PM's will increase in value. It all balances out, unless you are a SHTF doomsayer holding on to the metals for a possible doomsday scenario. Metals in my view, are just another commodity, to be utilized accordingly.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • TwoSides2aCoin
    TwoSides2aCoin Posts: 45,216 ✭✭✭✭✭
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    To every season. This is no different.
  • hchcoin
    hchcoin Posts: 4,843 ✭✭✭✭✭
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    This is a tough crowd image
  • TwoSides2aCoin
    TwoSides2aCoin Posts: 45,216 ✭✭✭✭✭
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    Originally posted by: hchcoin
    This is a tough crowd image


    The Hunt Bros. saga, and the 2007-2012 "charting" taught me not to get too excited. And if it goes to the moon and stays there now, I'd be shocked.
  • hchcoin
    hchcoin Posts: 4,843 ✭✭✭✭✭
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    Gold to silver ratio is on the move

    Could this be it?
  • Coin Finder
    Coin Finder Posts: 7,805 ✭✭✭✭✭
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    I am not an analyst or even that smart image, but how high can silver go up before everyone dumps it? There seems to be a lot of silver out in the world in the hands of a lot of people. If everyone sold would there be enough currency or cash to cover? Someone out there will not let this happen will they? Unless it is all on "paper" and not physically held.

    The court jester does not play, but gently pulls the strings…

  • derryb
    derryb Posts: 38,605 ✭✭✭✭✭
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    Originally posted by: hchcoin
    This is a tough crowd image


    maybe just realistic?

    The move up is exciting, but most likely not permanent.

    Don't get me wrong, I fully share your excitement.

    image
    image
    image
    image

    Edited to add:

    And out @ 90.

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • OPA
    OPA Posts: 17,166 ✭✭✭✭✭
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    Originally posted by: derryb
    Originally posted by: hchcoin
    This is a tough crowd image


    maybe just realistic?

    The move up is exciting, but most likely not permanent.


    Agree. Most of us have learned from the 2011 PM hype and are not easily moved by charts or PM guru comments. Remember? "gold up to $5,000 per oz & silver $100 per oz?"

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • pmac
    pmac Posts: 3,189 ✭✭✭
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    Originally posted by: hchcoin
    Gold to silver ratio is on the move

    Could this be it?


    Quick, I've got to sell all my gold for silver!image
    Paul
  • derryb
    derryb Posts: 38,605 ✭✭✭✭✭
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    Heavy silver buying in China and launch of China's gold fix last night are fueling this morning's bull. should help set a higher floor price.

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • hchcoin
    hchcoin Posts: 4,843 ✭✭✭✭✭
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    Originally posted by: derryb
    Originally posted by: hchcoin
    This is a tough crowd image


    maybe just realistic?

    The move up is exciting, but most likely not permanent.

    Don't get me wrong, I fully share your excitement.

    image
    image
    image
    image


    That's what I'm talking about!

  • derryb
    derryb Posts: 38,605 ✭✭✭✭✭
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    Originally posted by: hchcoin
    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.

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • TwoSides2aCoin
    TwoSides2aCoin Posts: 45,216 ✭✭✭✭✭
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    Okay, let's (for fun) imagine having a hundred ounce bar of silver for $1725 today, or a hundred shares of PCGS (clct) for the same price
    .... Or both.

    I'd still prefer a nice dime or quarter or a type coin or large cent that costs way more than either of those two aforementioned. image What's the matter with me ?
    Why not get a little of each and go fishing ?
  • hchcoin
    hchcoin Posts: 4,843 ✭✭✭✭✭
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    What's the highest price someone has sold a roll of eagles for when the market was at its peak in 2011? Silver got above $45 an ounce. Did anyone sell a roll for over $900? How about $1,000?

    How cool would that be?
  • OPA
    OPA Posts: 17,166 ✭✭✭✭✭
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    I sold several 2009 rolls in 2011 for over $800..can't remember the exact amount.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • hchcoin
    hchcoin Posts: 4,843 ✭✭✭✭✭
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    Even Zero Hedge Agrees!

    Check out this article from today. It explains what I was talking about yesterday. It also talks about increased demand in silver from China.
  • tneig
    tneig Posts: 1,505 ✭✭✭
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    For me it just means hold off on buying until it goes low again. I don't think its going to the 30's so it won't help me...
    COA
  • freechance
    freechance Posts: 380 ✭✭
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    Originally posted by: hchcoin
    What's the highest price someone has sold a roll of eagles for when the market was at its peak in 2011? Silver got above $45 an ounce. Did anyone sell a roll for over $900? How about $1,000?

    How cool would that be?


    I sold a monster box of maples to Apmex for 26,240 on 4/29/2011
  • hchcoin
    hchcoin Posts: 4,843 ✭✭✭✭✭
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    Originally posted by: derryb
    Originally posted by: hchcoin
    This is a tough crowd image


    maybe just realistic?

    The move up is exciting, but most likely not permanent.

    Don't get me wrong, I fully share your excitement.

    image
    image
    image
    image

    Edited to add:

    And out @ 90.


    image That is awesome!

  • hchcoin
    hchcoin Posts: 4,843 ✭✭✭✭✭
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    Originally posted by: freechance
    Originally posted by: hchcoin
    What's the highest price someone has sold a roll of eagles for when the market was at its peak in 2011? Silver got above $45 an ounce. Did anyone sell a roll for over $900? How about $1,000?

    How cool would that be?


    I sold a monster box of maples to Apmex for 26,240 on 4/29/2011


    Well done!

  • Overdate
    Overdate Posts: 7,318 ✭✭✭✭✭
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    I'd throw some money at silver, but Dutch tulips just hit a 379-year low and I think they are set to bounce big time! image

  • VanHalen
    VanHalen Posts: 4,330 ✭✭✭✭✭
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    Originally posted by: freechance

    Originally posted by: hchcoin

    What's the highest price someone has sold a roll of eagles for when the market was at its peak in 2011? Silver got above $45 an ounce. Did anyone sell a roll for over $900? How about $1,000?



    How cool would that be?




    I sold a monster box of maples to Apmex for 26,240 on 4/29/2011




    Were they really paying $4 over or are you pulling my leg?



    image



  • freechance
    freechance Posts: 380 ✭✭
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    Originally posted by: VanHalen
    Originally posted by: freechance
    Originally posted by: hchcoin
    What's the highest price someone has sold a roll of eagles for when the market was at its peak in 2011? Silver got above $45 an ounce. Did anyone sell a roll for over $900? How about $1,000?

    How cool would that be?


    I sold a monster box of maples to Apmex for 26,240 on 4/29/2011


    Were they really paying $4 over or are you pulling my leg?

    image


    image
  • jmski52
    jmski52 Posts: 24,011 ✭✭✭✭✭
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    Nice buy-in, derryb!
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • derryb
    derryb Posts: 38,605 ✭✭✭✭✭
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    Originally posted by: VanHalen
    Originally posted by: freechance
    Originally posted by: hchcoin
    What's the highest price someone has sold a roll of eagles for when the market was at its peak in 2011? Silver got above $45 an ounce. Did anyone sell a roll for over $900? How about $1,000?

    How cool would that be?


    I sold a monster box of maples to Apmex for 26,240 on 4/29/2011


    Were they really paying $4 over or are you pulling my leg?

    image


    The Vancouver Olympics privy mark carried a little bit of a premium. I was getting an extra $4-8 for them on individual sales.

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • greghansen
    greghansen Posts: 4,301 ✭✭✭
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    In response to the original post; if you believe in the head and shoulder pattern, you must also believe it what it portends with regard to the measurement of the move. The pattern suggests an upward move equal to the distance from the neckline to the bottom of the head...in this case, just a little less than $2.50. So IMO, the chart pattern isn't worth getting too excited about because it is not suggesting a price back in the 20's but rather would be fulfilled with a price recovery to an area between $18 & $18.50.

    Greg Hansen, Melbourne, FL Click here for any current EBAY auctions Multiple "Circle of Trust" transactions over 14 years on forum

  • hchcoin
    hchcoin Posts: 4,843 ✭✭✭✭✭
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    Originally posted by: greghansen
    In response to the original post; if you believe in the head and shoulder pattern, you must also believe it what it portends with regard to the measurement of the move. The pattern suggests an upward move equal to the distance from the neckline to the bottom of the head...in this case, just a little less than $2.50. So IMO, the chart pattern isn't worth getting too excited about because it is not suggesting a price back in the 20's but rather would be fulfilled with a price recovery to an area between $18 & $18.50.


    image I guess my title is a little bit exaggerated image
  • USMarine6
    USMarine6 Posts: 2,113 ✭✭✭✭✭
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    Originally posted by: hchcoin
    What's the highest price someone has sold a roll of eagles for when the market was at its peak in 2011? Silver got above $45 an ounce. Did anyone sell a roll for over $900? How about $1,000?

    How cool would that be?


    I had only been into coins and bullion a short time in 2011 and I remember selling 2 rolls of mixed eagle at a grand each. About a week later was the start of the nose dive. Thought I was the smartest guy around. Now not so much. Sold 60 ounces last week.
  • tombr
    tombr Posts: 863 ✭✭
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    I too would like to see it keep going up---as for charts, you can't trade from the left side of them, only the right.
  • Booger9989
    Booger9989 Posts: 411 ✭✭✭
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    Originally posted by: TwoSides2aCoin
    Okay, let's (for fun) imagine having a hundred ounce bar of silver for $1725 today, or a hundred shares of PCGS (clct) for the same price
    .... Or both.

    I'd still prefer a nice dime or quarter or a type coin or large cent that costs way more than either of those two aforementioned. image What's the matter with me ?
    Why not get a little of each and go fishing ?


    Whats funny about that is I bought silver at the same price I bought my CLCT and both are up nicely! If CLCT hits 18.50 I am going to dump....wait a bit and short it on the ride back down till I buy it back at my original entry price....
    Positive BST Deals as a seller : Wondercoin, Chumlee, Jerster, Perry Hall , DMarks, MWK, drewsef, SoCalBigMark, Lakesammman, Nurmaler
  • hchcoin
    hchcoin Posts: 4,843 ✭✭✭✭✭
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    My next question is how many of you are going to keep buying after this nice little bump or will you wait to see if it drops again? Isn't it funny how $17 silver seems expensive after it had been below $14 not too long ago?
  • hchcoin
    hchcoin Posts: 4,843 ✭✭✭✭✭
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    Look out, silvers on the move again in the world spot market. Up almost 2.5%. It's 11:00 AM in China image They must be buying again.
  • pjb103183
    pjb103183 Posts: 1,337 ✭✭✭✭
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    $17 silver is still a bargain imo...
  • BAJJERFAN
    BAJJERFAN Posts: 31,659 ✭✭✭✭✭
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    Originally posted by: hchcoin

    My next question is how many of you are going to keep buying after this nice little bump or will you wait to see if it drops again? Isn't it funny how $17 silver seems expensive after it had been below $14 not too long ago?




    Not everybody had funds to buy all that they wanted at $14. If they did, nobody would be buying at $17 cept those who think it will go higher.
    theknowitalltroll;
  • ricko
    ricko Posts: 98,724 ✭✭✭✭✭
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    Charts are history... what is important is to understand what is behind the charted information.

    Making sense of cause and effect is far more reliable than historical data. Cheers, RickO
  • asheland
    asheland Posts: 24,545 ✭✭✭✭✭
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    Originally posted by: pjb103183
    $17 silver is still a bargain imo...


    +1

    My YouTube Channel

  • TwoSides2aCoin
    TwoSides2aCoin Posts: 45,216 ✭✭✭✭✭
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    Customer took delivery of silver today. I had a hard time letting it go image It's worth so much more in just a few weeks. image
  • hchcoin
    hchcoin Posts: 4,843 ✭✭✭✭✭
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    image

    Has anyone read the book?

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