Ahhh yes, the many excuses & trying to find a rationale for this "unexplainable drop " will start flowing...
:lol: Unexplainable? There is no unexplainable drop. The explanation for all unexplainable drops is obviously a sinister "smack down".
:lol: Unexplainable? There is no unexplainable drop. The explanation for all unexplainable drops is obviously a sinister "smack down". [/quote] Yes KWN says so - http://kingworldnews.com/is-this-why-the-smash-in-gold-silver-is-happening/[/quote] :lol: Exactly oz. It's so tired and lame when you already know the headlines before they are written.
With the bulls finally starting to turn bearish, and the Trading Forum currently on life support... I've today bought some silver at around US$17 More than likely it will continue lower- but happy to buy some at this level in case it doesn't.
^^^ Such a prophet :| Continue to like the chances for aud silver proxy, etpmag. Take the 4 yr weekly chart - recently showing encouraging support at significant level of $22. Note the follow-up to the weekly hammer candle, the rise in volume before the correction, the fall off in volume since. There is a plausible mirror fold-out bottom around the November 2014 low - left and right symmetry around the low. I would be disappointed if there is a weekly close below $22, but there is still the fall-back to $20. I would throw my hands up at a weekly close below $20, which aint gonna happen imo. ETPMAG physical silver backed aud etf [imgz=http://forums.silverstackers.com/uploads/1893_big_55.gif][/imgz]
the trading here is pretty slow, meanwhile at goldstackers and perthbullion, pretty much all the gold is on back order and there isn't much silver left at all.
With silver dropping down to approx the US$16 level... I suspect we could now be in for a reasonable rise Time will tell. I put in a request looking for certain coins a couple days ago on the trading forum & was inundated with messages from people wanting to sell.... That is generally what you expect at a short term bottom. COULD get interesting from here.
...so far so good Feel free to express post me bank cheques & oz's of gold for my once again flawless analysis
Nice chart and a good job! Apparently wave 5 down has begun for silver. Even a truncated wave 5 from Elliott theory will need silver to test previous low, which was about US$14. If we assume wave 5 is equal to wave 1 percentage wise, silver might hit US$13 or less. Oh, by the way, gold will see US$800 or below; go figure. WRONG time to stack!
Going by the principal, look at what people do, not what they say: Not much gold for sale on the forum.
Still plenty of gold/silver for sale at close to spot prices by the dealer. Still plenty of people buying physical.
I always thought buying low was the aim :S Unless of course, you're expecting to see Ag fall below $16 (and stay there) within the next 20 years. If that's the case, I think your head is firmly up your rear end. Mike Maloney expects silver to get to as low as $7 in the coming deflation. I'm holding onto some cash just in case that happens - and at that price, there will be a lot of sellers expecting it to go even lower. As we know, when a mania happens, everyone is buying (entirely the WRONG time to buy) and the same is correct vice versa. Enjoy the slide down
^ I'm surprised Maloney is asserting that. I've only known him (when i did pay attention to him) to be one of those "silver to da moon tomorrow" permabulls. .
