Silver...just put in the highs for many years to come

[LiveTradingZone]

retracement is the time to short, there is always a retracement but yes it is true that it would be hard to trade on an uptrend

All depends on definitions of uptrend/downtrend too I suppose. There could still be a retracement to $30 and be at 61.8% from the move in July to recent. That is still $100,000 PER contract! lol

 

[BlackBison]

You can't deny the technical set up for a short on silver. Take a look at the daily chart... If we break the high then trend continues up, if not it's a valid swing/long term short.

Risk/reward was 1:10. Can't get much better than that 👍

Yes you can get way better than that. You can get a setup that is profitable over time.

That's all that matters.

 

[LiveTradingZone]

Yes you can get way better than that. You can get a setup that is profitable over time.

That's all that matters.

Of course...That is the goal of every trader. 👍

 

[brettus]

Yeah I got out close to the high. Even though im a G&S bug I would like to see a significant correction so I can get back in cheaply and ride the wave back up again😀 It was a crazy move over the last 18 months.

Silver is such an incredible metal, it has a list of uses a mile long and the physical market is extremely tight. Its industrial use will continue to rocket, and in addition to investment demand the Silver story has a way to go. In 1980 it was the US and Western Europe involved. This time it is the entire world of more than 6 Billion people.

I use it mainly to kill vampires. If the price keeps going up i might have to start using more garlic, which could mean alot of vampires on the prowl at night. I think people should think about the consequences before recklessly buying.

 

[LiveTradingZone]

I use it mainly to kill vampires. If the price keeps going up i might have to start using more garlic, which could mean alot of vampires on the prowl at night. I think people should think about the consequences before recklessly buying.

So you are saying we should try to trade garlic next :clap:

 

[dmt257]

I use it mainly to kill vampires. If the price keeps going up i might have to start using more garlic, which could mean alot of vampires on the prowl at night. I think people should think about the consequences before recklessly buying.

Define 'reckless'. I don't think there are all that many looking to buy atm anyways so don't worry about it.

 

[jezek5]

I think the only reason silver isn't flying here
is because there aren't enough sellers to fuel
the flames.
Everyone wants to buy,we need some more of those"it can't go any higher"
types to come in and sell at market.
Clearly thats whats going on in gold.
Why would anyone sell these two?
And to buy what?

 

[Liquid validity]

http://seekingalpha.com/article/265...-hoodwinked-by-the-futures-market?source=feed

 

[LiveTradingZone]

Big move higher today....knocked me out in some profit.

 

[vinicius]

just follow the trend

 

[JahDave]

If you don't believe in any other indicators, then you should realize that whenever any stock, commodity or currency gets trendy in the news then it is getting ready for a reversal.................100 percent of the time and I think this is across the board...............Of course I called this early because I look across all time frames and I trade a good system...............My weakness is calling everything early, but not wrong...........This reversal is going to be big,,,,,,,,,,,,Hopefully I am still not too early..............Things are close to reversal now, but probably still a little while away...........We will see.............

 

[dmt257]

I'll take the other side of that bet JahDave, if by big you mean a correction of more than 20% from peak.

Silver isn't trendy though? The media are always bashing it. Also, look at the G&S stocks. What are they doing? The answer is very little compared to the price of the metals. If we were in bubble territory they would be soaring.

Most have been calling a bubble for years but it never comes. When the next financial crisis hits we will see a new leg of this bull market.

 

[LiveTradingZone]

I'll take the other side of that bet JahDave, if by big you mean a correction of more than 20% from peak.

Silver isn't trendy though? The media are always bashing it. Also, look at the G&S stocks. What are they doing? The answer is very little compared to the price of the metals. If we were in bubble territory they would be soaring.

Most have been calling a bubble for years but it never comes. When the next financial crisis hits we will see a new leg of this bull market.

Well...doesn't look that bearish anymore. I would be surprised at this point if this is the all time high. Views change quick 😆

At least there was a massive drop for a couple days trade:clap:

 

[Depth Trade]

This week has been brutal.
Silver has been all over the map.What I thought would be resistance at 50usd area, yet broken leading to a massive run higher, has proven to be an impenetrable ceiling.
Trading both silver and gold this week, I am currently up almost +7% for the week with open positions, but my closed position balance is -8.5%
Looking over the week, gold made an early high, then a massive drop, then continued up doubling the range to make a new high.
Silver made an early attempt high, then a massive sell off, but was not able to breach it's early high made this week.
In hindsight, I should have just played Gold with not so much a psychological resistance as compared to silver and I could have cut out many -% of my losers.
That is after the fact that I specifically picked this week as one when silver and gold would end higher, which they have, but making money off it has been intense.
Either way I am happy to be ending this week in 3 hours to close out all positions for a gain which is +10% (as I type) for the week.
🙂

 

[LiveTradingZone]

ummmmmmmmm maybe I will be right afterall 🙂

 

[DashRiprock]

mate look at gold and the dollar.

this is specific to silver and probably cos of teh margin hikes, long liquidation in thin markets.

I reckon silver will press to new highs so buy around here

 

[LiveTradingZone]

Can I claim victory yet on this call haha 🙂

 

[commoner]

Can I claim victory yet on this call haha 🙂

i don't know about the "many years" part.....perhaps "many months" i think.....where we close on the monthly in may and june will be especially important IMHO. so long as we close above $28, i think the case for long-term bullishness going well into triple digits in the years to come is solid. but certanly an extremely well-timed call on your part 👍

 

[LiveTradingZone]

So far the prediction is still right 🙂

Silver was down $20k a contract again today...pretty insane!

 

[VendorExterminator]

Can I claim victory yet on this call haha 🙂

No, it's going much higher longer term (within a year).