hey all, what are peoples thoughts on silver in short term, ie 1week, 1 month. how long do yo think this downtrend will last? i tried to get info from the forums but its all over the place. thought id start dedicated topic.sorry if i missed existing one. thinkning about shorting contracts to cover any losses on physical.
I'm an ignoramus when it comes to technical/short term trading, but i'd have to say i think it would probably be extremely risky to short silver now that its already dropped so much... it's probably close to moving up again IMHO
I dont see it getting any lower than $35USD. I think I'll bite 2moro morning. Only can afford to buy 20-30oz...oh well
Yeah, short term - who knows, but I thought it was a sizeable enough drop to make a small purchase today. I guess the next couple of days will show whether that was a good or bad move to make.
That's what I thought this morning (back up) but watching it now.. Maby it can go down a peg more. 3-4 dollars would be nice. That's what I hope!
I'd say, short term, silver could go as low as $28, but I think that's the last leg of the lowest support level, so I don't think it can go any lower than that for at least a few weeks, maybe a month or 2. However, this doesn't bring into account any black swan event in the stockmarket or commodities market. If the stockmarket were to suddenly collapse like it did in 2008, you could expect silver to go <$10/oz. Am I joking? No, I'm not. We've seen just how far and how hard silver has fallen, and the US dollar hasn't really rallied that much at all when compared to the general commodities index. Imagine what will happen to the price of silver when the US dollar starts to rally like crazy (ie, 2008 crash, 2010 flash crash, etc).
In the next 1 month i would say about 28 - 30, back to its break out. Looking at all of silver charts silver always corrects back to its breakout point which is about 28-30 (in this specific breakout point). I think there is a bit more time to short silver tho it is getting riskier. I might start to crack open the bank account for more silver around 30-35, i just wanna see how long it trades sideways for when it reaches in that barrier. If it starts to trade sideways even at 35 then i might buy back in ... just go by the charts ... its the best source of information short of knowing the future ...
It might be prudent to prepare for a potential 2nd downleg after a 37-42 if there is a consoldation similar to 08. Be careful. I'm not saying buy or sell, just make sure you won't be wiped out via leverage, etc if the worst happens. Don't mind my ms-paint childlike graph, but it demonstrates one possibility. Armstrong's June "start of the new cycle" low is screaming in my head...make sure you live to play another day. [imgz=http://forums.silverstackers.com/uploads/796_2008_and_today.jpg][/imgz]
Yep , stella is saying about 32, i think it will be even lower, i think even slightly under 30 is a possibility if history is any indicator. Specially if de-leveraging happens. If it does its going to be very very bad. It will be the DIP that everyone has called for ... im all for dips but the main important thing to consider is HOW long will the dip last. I think everything has gotten to accustomed to a dip for a day or two, maybe a week then a pickup. If the dip lasts longer then a 2 - 3 months im sure people will start to get frustrated ... I just cant wait till it hits the low 30's thats when the stacking starts again ...
If its still dipped when the dragons are out, I think I will get over the frustration pretty quickly.
It's going to be interesting to see how much silver is around to be had at different price lv's, sub 30 metal may see mass buying as it might be the last time we ever see that sort of lv. I think Perth Mint timed it to miss the dip.
Well BOE and ECB have both just announced they will be keeping rates on hold in the last 30 mins so the correction may be over and we may see a climb again possibly on gold not sure about silver it's always been a speculative metal but it's support lies around $34.
Mate , i think the dragons are one of the only coins im gona run rampent on regardless of where it is interms of price, simply cause i can imagine how its gonna look and what its value is as a future numismatic. I think if i got myself a 1kg dragon id put it on top of the TV with a nice little stand
Can someone tell me anything about this dragon? Seem very popular with people here. Something Perth Mint gonna release soon?
