trader3cnd
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The University of Texas bought $1 billion worth of silver and they are neither the public nor suckers. Silver has a long way to go because inflation just started to build up.
Best Thread Silver!
DashRiprock
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they are also republicans.
Well, I appreciate the fundamentals of Silver and the whole economic mess etc etc. But I have come across alot of things just recently which concern me.
ALOT of people I know are now invested in Silver.
My parents, who were not interested when it was $18 an ounce, wanted to buy when it was $47.
Every time the price drops even a few $, its 'JP Morgan and the government supressing the price so people don't get rich off Silver'.
A significant number of mainstream media and press jumped on the Silver bandwagon ( Jim Cramer?)
You can join the 'Silver liberation army'
You can buy 'Ive got Silver' T-shirts
Silver coins with high profile public figure's images on (the ones that push Silver)
Looking at a recent Silver COT report the non-reportable positions were 2.5 : 1 long-short. This must be mostly the public? Totally at odds with the commercials.
Im no expert for sure, but it seems to have gotton a little crazy and moved too far, too fast. A few years ago Oil got ahead of itself and went from $150- $38 in no time. I would hate for that to happen to Silver.
ALOT of people I know are now invested in Silver.
My parents, who were not interested when it was $18 an ounce, wanted to buy when it was $47.
Every time the price drops even a few $, its 'JP Morgan and the government supressing the price so people don't get rich off Silver'.
A significant number of mainstream media and press jumped on the Silver bandwagon ( Jim Cramer?)
You can join the 'Silver liberation army'
You can buy 'Ive got Silver' T-shirts
Silver coins with high profile public figure's images on (the ones that push Silver)
Looking at a recent Silver COT report the non-reportable positions were 2.5 : 1 long-short. This must be mostly the public? Totally at odds with the commercials.
Im no expert for sure, but it seems to have gotton a little crazy and moved too far, too fast. A few years ago Oil got ahead of itself and went from $150- $38 in no time. I would hate for that to happen to Silver.
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BlackBison
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Pretty much the same sentiment and excitement as when gold first traded towards $1000 a few years ago. There was an initial sell off, but gold is now up 50% from those levels.
I see no reason for silver not to roughly repeat this pattern, except with higher volatility (perhaps down 50-70%, then up to $100 in the next few years). Just make sure if it trades down to the $21 area you don't get scared or you'll regret it later..
PS: Silver is alot like gold but nothing like crude oil was in 2008, its totally different in terms of the long term sentiment and positions of the weak hands. Hint: the general public didn't have any 'oil assets' to sell but they had plenty of 'PM assets' to sell..
Man, I would be too happy for words if I could get Silver at $20 again. I would have to pinch myself.
These Gold and Silver charts are quite interesting I think. Gold has had a sure and steady rise, not showing any bubble characteristics. But Silver had a parabolic move as of late from the speculative element, followed by the burst. Thats how I see it anyways.
These Gold and Silver charts are quite interesting I think. Gold has had a sure and steady rise, not showing any bubble characteristics. But Silver had a parabolic move as of late from the speculative element, followed by the burst. Thats how I see it anyways.
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Interesting piece on Silver...
http://goldnews.bullionvault.com/silver_standard_deviation_051420111
Im hearing of que's stretching for blocks outside of Silver dealers too, which is concerning. Where were all these people years ago? I think they heard that Silver is going up, its doubled in the last year etc etc and are just taking the plunge.
http://goldnews.bullionvault.com/silver_standard_deviation_051420111
Im hearing of que's stretching for blocks outside of Silver dealers too, which is concerning. Where were all these people years ago? I think they heard that Silver is going up, its doubled in the last year etc etc and are just taking the plunge.
Forgot to pardon the pun :smart:
YouAreNotFree
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Deja vu?
2008
2011
2008
2011
shgrunewald
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Silver is almost at par with gold. It is a hedge against inflation. Silver is a precious metal being used in computer hardware industry today and will soon overtake gold.
YouAreNotFree
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On the daily chart, silver price movements we observe two possible scenarios. See formed head & shoulders pattern on a daily basis, penetrating the neckline, back to school line and continuing decline in the value of silver against the U.S. dollar (USD). If we consider that this is an election year in the U.S. and the dollar, as in previous years during this period stronger, we can justify the decline that has occurred. If the pricebreaks or falls below the $ 5.31 can be expected to decrease and the implementation of head & shoulders pattern. In this case we expect the price level of $ 28.05.
In the event that the price again reject the 50% fibo level (31.820) and the upward trend continues expect the formation of wave 3, which will finish higher than 40 $ in the future.
In the short term we expect in any case if there is a slight decrease in the formation of harmonic patterns as shown:
But in both cases does not necessarily mean that there will be breaking the baseline. In any case it will be interesting to chart silver in the coming days and we will have a clear indication of where prices will go, based on which we will decide on further action.
In the event that the price again reject the 50% fibo level (31.820) and the upward trend continues expect the formation of wave 3, which will finish higher than 40 $ in the future.
In the short term we expect in any case if there is a slight decrease in the formation of harmonic patterns as shown:
But in both cases does not necessarily mean that there will be breaking the baseline. In any case it will be interesting to chart silver in the coming days and we will have a clear indication of where prices will go, based on which we will decide on further action.
YouAreNotFree
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By God, the retail bull crowd are absolutely terrified right now. Possibly a contrarian indicator, possibly not. Who knows?
