Kitco is crashing..... I haven't bought or sold during this whole parabolic rise, I'm still 5 to 8 years till retirement....it was a fun ride for sure, just as a spectator and a long time stacker...
@BruceS said:
Kitco is crashing..... I haven't bought or sold during this whole parabolic rise, I'm still 5 to 8 years till retirement....it was a fun ride for sure, just as a spectator and a long time stacker...
Can't wait to see what's next ..
What's next is likely a consolidation period where silver will go sideways for a while. Then I'm expecting another leg up.
@BruceS said:
Kitco is crashing..... I haven't bought or sold during this whole parabolic rise, I'm still 5 to 8 years till retirement....it was a fun ride for sure, just as a spectator and a long time stacker...
Can't wait to see what's next ..
What's next is likely a consolidation period where silver will go sideways for a while. Then I'm expecting another leg up.
@BruceS said:
Kitco is crashing..... I haven't bought or sold during this whole parabolic rise, I'm still 5 to 8 years till retirement....it was a fun ride for sure, just as a spectator and a long time stacker...
Can't wait to see what's next ..
What's next is likely a consolidation period where silver will go sideways for a while. Then I'm expecting another leg up.
@BruceS said:
Kitco is crashing..... I haven't bought or sold during this whole parabolic rise, I'm still 5 to 8 years till retirement....it was a fun ride for sure, just as a spectator and a long time stacker...
Can't wait to see what's next ..
What's next is likely a consolidation period where silver will go sideways for a while. Then I'm expecting another leg up.
I'l let PC speak for himself, but as someone who was in general agreement with that comment, it would not surprise me if we go sideways on the charts (including this decline) for 18-24 months...maybe even a bit longer.
Silver had a HUGE speculative move and lots of people got caught and trapped. You don't clear that out in a few months even with a 60% decline. It's going to take longer, though not as long as 1979-80 or 2011-12.
I'l let PC speak for himself, but as someone who was in general agreement with that comment, it would not surprise me if we go sideways on the charts (including this decline) for 18-24 months...maybe even a bit longer.
Silver had a HUGE speculative move and lots of people got caught and trapped. You don't clear that out in a few months even with a 60% decline. It's going to take longer, though not as long as 1979-80 or 2011-12.
Took a decade plus both times to hit new highs You expecting that again?
@BruceS said:
Kitco is crashing..... I haven't bought or sold during this whole parabolic rise, I'm still 5 to 8 years till retirement....it was a fun ride for sure, just as a spectator and a long time stacker...
Can't wait to see what's next ..
What's next is likely a consolidation period where silver will go sideways for a while. Then I'm expecting another leg up.
Time for an update?
"sideways" may not appear for a short while.
Governments can print currency. Only the people can print faith in it — and they’re running low on ink.
Considering it is a precious metal forum, I see about a third of respondents do not even belong here. So far off base you may as well discuss your closet knitting habits.
@jmski52 said:
It's hard to trade in a manipulated market when you only hold your position a short time - even when the >fundamentals and the trend are quite obvious.
From what I see, a "manipulated" market is one in which you can't make easy $$$.
Trading silver has nothing to do with bogus manipulation claims. It has to do with trading being tough in general -- 90% of "traders" lose money -- and silver being very volatile.
@jmski52 said:
It's hard to trade in a manipulated market when you only hold your position a short time - even when the >fundamentals and the trend are quite obvious.
From what I see, a "manipulated" market is one in which you can't make easy $$$.
Trading silver has nothing to do with bogus manipulation claims. It has to do with trading being tough in general -- 90% of "traders" lose money -- and silver being very volatile.
So, who is "bogus," you are the Department of Justice?:
According to the US Department of Justice:"a federal jury in the Northern District of Illinois convicted two former precious metals traders at JPMorgan Chase & Co. (JPMorgan) today of fraud, attempted price manipulation, and spoofing in a multi-year market manipulation scheme of precious metals futures contracts that spanned over eight years and involved thousands of unlawful trading sequences."
"The evidence at trial showed that between approximately May 2008 and August 2016, the defendants, along with other traders on the JPMorgan precious metals desk, engaged in a widespread spoofing, market manipulation, and fraud scheme. The defendants placed orders that they intended to cancel before execution in order to drive prices on orders they intended to execute on the opposite side of the market. The defendants engaged in thousands of deceptive trading sequences for gold, silver, platinum, and palladium futures contracts traded through the New York Mercantile Exchange Inc. (NYMEX) and Commodity Exchange Inc. (COMEX)."
What DOJ's press release tells us:
JPM has a bullion trading desk (one of the largest in the world).
JPM employes traders to trade various PMs on behalf of the JPM.
JPM places these trades on NYME and COMEX.
"These deceptive orders were intended to inject false and misleading information about the genuine supply and demand for precious metals futures contracts."
JPM traders have been convicted, while trading on behalf of JPM, of "fraud" (DOJ's choice of words), of "attempted price manipulation" (DOJ's choice of words), and of "spoofing."
Numerous other major commercial banks were also found guilty.
The bullion banks's deceptive trades "lured others into making disadvantageous trades."
Those who fail to see the hard as rock evidence of PM price manipulation should not be investing in any market that they fail to fully understand.
Caveat Emptor - Let the Buyer Beware.
Governments can print currency. Only the people can print faith in it — and they’re running low on ink.
Comments
I'm just glad to get a reprieve from updating this thread.
Kitco is crashing..... I haven't bought or sold during this whole parabolic rise, I'm still 5 to 8 years till retirement....it was a fun ride for sure, just as a spectator and a long time stacker...
Can't wait to see what's next ..
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Ouch on silver....ouch on all of the PMs today
What's next is likely a consolidation period where silver will go sideways for a while. Then I'm expecting another leg up.
Time for an update?
Knowledge is the enemy of fear
LOVE IT!
COPPER is gutter !
Did they stop spending and printing? Did fuel prices collapse yet?
Yeah, I didn't think so. The pressure is building and it won't be too long before the market reasserts itself.
I knew it would happen.
Nope, no new highs.
Buy day ? I say !
He can't read
COPPER is gutter !
I'l let PC speak for himself, but as someone who was in general agreement with that comment, it would not surprise me if we go sideways on the charts (including this decline) for 18-24 months...maybe even a bit longer.
Silver had a HUGE speculative move and lots of people got caught and trapped. You don't clear that out in a few months even with a 60% decline. It's going to take longer, though not as long as 1979-80 or 2011-12.
Took a decade plus both times to hit new highs You expecting that again?
Knowledge is the enemy of fear
"sideways" may not appear for a short while.
Governments can print currency. Only the people can print faith in it — and they’re running low on ink.
All new silver "highs" are specutative highs. Speculation always reverses itself.
Governments can print currency. Only the people can print faith in it — and they’re running low on ink.
You sound like Blitz.
Knowledge is the enemy of fear
nope, he repeatedly claims there is no money to be made. I have repeatedly claimed there is lots of money to be made.
Governments can print currency. Only the people can print faith in it — and they’re running low on ink.
I dont think hes ever said theres no money to be made. In fact i think his gutter helped him retire.
Knowledge is the enemy of fear
Maybe coho can tell us............what's the average length of time that a stock position is held these days? Something like 6 or 8 months?
It's hard to trade in a manipulated market when you only hold your position a short time - even when the fundamentals and the trend are quite obvious.
It still only makes sense to "average in", and then to "average out". Trading paper with a hair trigger is a poor bet.
I knew it would happen.
LOL. Bizzaro world?
Governments can print currency. Only the people can print faith in it — and they’re running low on ink.
Isnt holding a position for a short time, the definition of trading? Your sentence contradicts itself.
Can you restate your viewpoint?
Knowledge is the enemy of fear
Isnt holding a position for a short time, the definition of trading? Your sentence contradicts itself.
There's no contradiction in my statement.
I knew it would happen.
Ok, well, it doesnt make amy sense.
Trading IS holding a position for only a short time, yet you state trading is hard when you only hold a short time.
Knowledge is the enemy of fear
Learn the English language coho.
I knew it would happen.
Talk is cheap ...so is silver.
Public service announcement
Buy on the….
>
Silver is cheap? aint that something? It was 22 bucks an oz cheaper 24 months ago lolzzzz
COPPER is gutter !
Yup. Ain’t that somethin’. lol.
Learn finance, economics, inter-market relationships, and monetary policy Jimmy.
Knowledge is the enemy of fear
It's hard to trade in a manipulated market when you only hold your position a short time - even when the fundamentals and the trend are quite obvious.
Which is why I'm not a trader, and is one of many reasons why I'm not a prospective customer for the bond salesman who trolls this forum.
I knew it would happen.
Considering it is a precious metal forum, I see about a third of respondents do not even belong here. So far off base you may as well discuss your closet knitting habits.
From what I see, a "manipulated" market is one in which you can't make easy $$$.
Trading silver has nothing to do with bogus manipulation claims. It has to do with trading being tough in general -- 90% of "traders" lose money -- and silver being very volatile.
So, who is "bogus," you are the Department of Justice?:
According to the US Department of Justice: "a federal jury in the Northern District of Illinois convicted two former precious metals traders at JPMorgan Chase & Co. (JPMorgan) today of fraud, attempted price manipulation, and spoofing in a multi-year market manipulation scheme of precious metals futures contracts that spanned over eight years and involved thousands of unlawful trading sequences."
"The evidence at trial showed that between approximately May 2008 and August 2016, the defendants, along with other traders on the JPMorgan precious metals desk, engaged in a widespread spoofing, market manipulation, and fraud scheme. The defendants placed orders that they intended to cancel before execution in order to drive prices on orders they intended to execute on the opposite side of the market. The defendants engaged in thousands of deceptive trading sequences for gold, silver, platinum, and palladium futures contracts traded through the New York Mercantile Exchange Inc. (NYMEX) and Commodity Exchange Inc. (COMEX)."
What DOJ's press release tells us:
Those who fail to see the hard as rock evidence of PM price manipulation should not be investing in any market that they fail to fully understand.
Caveat Emptor - Let the Buyer Beware.
Governments can print currency. Only the people can print faith in it — and they’re running low on ink.