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Silver is about to take off to the moon..........:)
hchcoin
Posts: 4,825 ✭✭✭✭✭
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.
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.
0
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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.
Give Me Liberty or Give Me Debt
Come on, where are my technical analysts?
analyzing their losses?
Give Me Liberty or Give Me Debt
Come on, where are my technical analysts?
analyzing their losses?
That was good. Made me laugh out loud!
-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?)
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.
My Adolph A. Weinman signature
I think I see an eye!
Come on, where are my technical analysts?
analyzing their losses?
See sig line. LMFAO too!!
Knowledge is the enemy of fear
Can't a guy just dream that this is finally the takeoff
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
Takeoff will happen when you least expect it.
Worry is the interest you pay on a debt you may not owe.
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
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.
Give Me Liberty or Give Me Debt
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
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.
This is a tough crowd
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.
Could this be it?
This is a tough crowd
maybe just realistic?
The move up is exciting, but most likely not permanent.
Don't get me wrong, I fully share your excitement.
Edited to add:
And out @ 90.
Give Me Liberty or Give Me Debt
This is a tough crowd
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?"
Gold to silver ratio is on the move
Could this be it?
Quick, I've got to sell all my gold for silver!
Give Me Liberty or Give Me Debt
This is a tough crowd
maybe just realistic?
The move up is exciting, but most likely not permanent.
Don't get me wrong, I fully share your excitement.
That's what I'm talking about!
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.
Give Me Liberty or Give Me Debt
.... 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.
Why not get a little of each and go fishing ?
How cool would that be?
Check out this article from today. It explains what I was talking about yesterday. It also talks about increased demand in silver from China.
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
This is a tough crowd
maybe just realistic?
The move up is exciting, but most likely not permanent.
Don't get me wrong, I fully share your excitement.
Edited to add:
And out @ 90.
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!
My Adolph A. Weinman signature
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?
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?
I knew it would happen.
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?
The Vancouver Olympics privy mark carried a little bit of a premium. I was getting an extra $4-8 for them on individual sales.
Give Me Liberty or Give Me Debt
Greg Hansen, Melbourne, FL Click here for any current EBAY auctions Multiple "Circle of Trust" transactions over 14 years on forum
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.
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.
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.
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....
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.
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
Making sense of cause and effect is far more reliable than historical data. Cheers, RickO
$17 silver is still a bargain imo...
+1
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