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

[LiveTradingZone]

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

I will hold you to that this time next year if you are still around

Meanwhile, Silver is down $70,000 a contract from that call lol

 

[VendorExterminator]

I will hold you to that this time next year if you are still around

Meanwhile, Silver is down $70,000 a contract from that call lol

We won't have to wait a year to find out you're wrong, but i thought i'd give you a timescale none the less.

 

[LiveTradingZone]

We won't have to wait a year to find out you're wrong, but i thought i'd give you a timescale none the less.

Sounds good...I am usually wrong everyday

 

[LiveTradingZone]

We won't have to wait a year to find out you're wrong, but i thought i'd give you a timescale none the less.

Also to make this at least interesting, post the day you think is the year low for silver so we can keep track of #'s.

 

[VendorExterminator]

Also to make this at least interesting, post the day you think is the year low for silver so we can keep track of #'s.

I'll try to remember, i'd guess it'll be at $30ish before it ramps up again. The sell off at $50 was due to a hike in margin rates and forced liquidation, combined with an overstretched move. But, the actions/manipulations by exchanges, whatever you want to call it, never cause the true high of a market...and nothing fundmental is different, other than perhaps a worry over Silver's industrial demand during a growth slowdown, or should i say, an even slower slowdown.

 

[LiveTradingZone]

I'll try to remember, i'd guess it'll be at $30ish before it ramps up again. The sell off at $50 was due to a hike in margin rates and forced liquidation, combined with an overstretched move. But, the actions/manipulations by exchanges, whatever you want to call it, never cause the true high of a market...and nothing fundmental is different, other than perhaps a worry over Silver's industrial demand during a growth slowdown, or should i say, an even slower slowdown.

We are now at $30. Some crazy action going on here.

Silver is down $50K PER CONTRACT!!!!!!!!!!!! in just 2 days :clap:

This action is still very bearish in my opinion. You very well could be right exterminator, we shall see. If you win, I will buy you a drink if you are ever in Florida, how is that

 

[brettus]

I'll try to remember, i'd guess it'll be at $30ish before it ramps up again. The sell off at $50 was due to a hike in margin rates and forced liquidation, combined with an overstretched move. But, the actions/manipulations by exchanges, whatever you want to call it, never cause the true high of a market...and nothing fundmental is different, other than perhaps a worry over Silver's industrial demand during a growth slowdown, or should i say, an even slower slowdown.

Keep holding it. I'm sure it will come back. Stops are for buses.

 

[VendorExterminator]

Keep holding it. I'm sure it will come back. Stops are for buses.

I don't have any positions in silver.....yet. I'm sure someone else would appreciate your dim-witted cliches on another thread through. I'm just stating the facts, maybe you can tell me a time when margin hikes by an exchange has been the reason for a multi-year high in a market?

 

[LiveTradingZone]

I don't have any positions in silver.....yet. I'm sure someone else would appreciate your dim-witted cliches on another thread through. I'm just stating the facts, maybe you can tell me a time when margin hikes by an exchange has been the reason for a multi-year high in a market?

The sell off in April occurred days before the margin hike announcement. My theory of this being the high wasn't based on the margin hike. However, it did seem to help a few days later when it did happen. I think the market was already very weak and the announcement of a margin hike really helped to liquidate some holdings in large hedge funds.

Now the charts have broken down due to other factors, so I think its very valid. When governments try to intervene in the markets, the markets usually slap them back in the face. However like I said above, I think the sell off in silver did occur days before the margin announcement, so the decline was not solely due to that (imo).

 

[brettus]

I don't have any positions in silver.....yet. I'm sure someone else would appreciate your dim-witted cliches on another thread through. I'm just stating the facts, maybe you can tell me a time when margin hikes by an exchange has been the reason for a multi-year high in a market?

Actually. I will contribute something in that case, as a dim witt.

So did Gold margins raise recently, which caused the recent collapse, or did it fail to post a daily close above the highs after a sharp drop of over 200$? Chart patterns 101.

Check out wheat top in 2006. Did exactly the same thing.

Regards,

Dim Witt.

P.S Eat it!

 

[VendorExterminator]

Actually. I will contribute something in that case, as a dim witt.

So did Gold margins raise recently, which caused the recent collapse, or did it fail to post a daily close above the highs after a sharp drop of over 200$? Chart patterns 101.

Check out wheat top in 2006. Did exactly the same thing.

Regards,

Dim Witt.

P.S Eat it!

Listen Brettus, or dim wit as you like to refer to yourself nowadays, margin hikes were the catalyst for the sliver sell off, but yes silver was exhibiting signs of weakness before, as i've said in my previous post here where it was "overstretched". As much as i like charts myself, i do not put them as the main reason why something happened in a market as you're alluding to in the above examples. It's no good just using charts in your trading. You're doing yourself a disservice, and your account i suspect, by not knowing the fundamental reasons for market moves. Combine both technical and fundamental, and i'm sure with persistence you'll improve with time.

 

[brettus]

Listen Brettus, or dim wit as you like to refer to yourself nowadays, margin hikes were the catalyst for the sliver sell off, but yes silver was exhibiting signs of weakness before, as i've said in my previous post here where it was "overstretched". As much as i like charts myself, i do not put them as the main reason why something happened in a market as you're alluding to in the above examples. It's no good just using charts in your trading. You're doing yourself a disservice, and your account i suspect, by not knowing the fundamental reasons for market moves. Combine both technical and fundamental, and i'm sure with persistence you'll improve with time.

Ok. Your opinion is that margin hikes were the catalyst the silver sell off. I disagree. That's all their is to it. Silver was already selling off way before and formed a bearish chart pattern exactly the same as the gold pattern we're seeing now, way before the hikes. I agree that it wouldn't have sold off so sharply if there weren't any margin hikes but neverless it was coming down whether you like it or not.

I don't believe it was a coincidence that they raised margin rates after it formed a bearish pattern. Some guy was short and he wanted to make a tonne of money.

 

[advfntrader]

gold took out the previous highs and then dropped, wheat didn't. Would you still be short when the previous highs went ?? Games to clear the stops then dropit.....

 

[brettus]

gold took out the previous highs and then dropped, wheat didn't. Would you still be short when the previous highs went ?? Games to clear the stops then dropit.....

Silver did the same thing. To answer your question yes. If you check it out. I would be short until the daily closed above the previous highs. Even though it broke the highs it never closed above the highs. I didn't trade like this anyway. I shorted when the daily closed below the previous highs at around 1875.

 

[VendorExterminator]

Also to make this at least interesting, post the day you think is the year low for silver so we can keep track of #'s.

I don't know if today will be the low or not, but i've bought now @ $27.33.

 

[tony1979]

I don't know if today will be the low or not, but i've bought now @ $27.33.

Nice buy dude!

 

[VendorExterminator]

Nice buy dude!

Thanks. I've been accumulating during this last week or so, for the final blow off in the precious metals which is ahead of us. My average price in slilver is approx $28.75. Good luck to all involved.

N.B - these are only my views, and should not be followed unless you've done your own research.

 

[LiveTradingZone]

Thanks. I've been accumulating during this last week or so, for the final blow off in the precious metals which is ahead of us. My average price in slilver is approx $28.75. Good luck to all involved.

N.B - these are only my views, and should not be followed unless you've done your own research.

Very very nice! Now so far we have me calling the high, you calling the low...what will the end result be

Both making money is good with me

 

[wackypete2]

Very very nice! Now so far we have me calling the high, you calling the low...what will the end result be

Both making money is good with me

I'll call the middle as soon as I get my calculator out :smart:

Peter

 

[VendorExterminator]

Very very nice! Now so far we have me calling the high, you calling the low...what will the end result be

Both making money is good with me

Good luck with your positions.