agree with OP, the initial fallout from Europe will be deflationary and metals will get hit hard, silver in particular because its so volatile, I wouldnt be buying here, we saw what happened yesterday when markets got scared because Italy's bond yields went to sh*t so imagine what will happen when the whole Euro banking system implodes, the general population will not flee to silver, most dont even know how to buy it, they will hoard cash. In the end the amount of money printing the fed will do to bail out Europe will pump metals higher but were a bit away from that yet. Im keeping cash on hand and waiting to buy the dips in small amounts when they come and they will come
This European thing is the front runner at the moment, its on all the markets lips. I note silvers sideways step this past week as an unpredicted effect from this. For me, I am not concerned about waiting to see where it will go from here. A great leap up or a big fall down. Neither would surprise me. A no panic day is a good day. My feeling is it will fall but either way my strategy does not change. I am buying silver and I am holding it. I'll worry about selling it when the time comes. Anything else is really short term speculation. I'm into PM's longer than that. My faith is strong. I'm stacking on.
That's because they want price to fluctuate for the easy profit and try to cause greed at high prices and concerns at low prices. "TO DA MOON" at $50 and "CRASH" at $30 I always did the opposite and so far that worked well.
Nothing's going to stop the train... http://www.commodityonline.com/news...lobal-silver-investment-demand-43648-3-1.html VRS x
I can see a paradigm shift in the perception of people confident in paper money to PM. When you see action like Hugo Rafael bring home tonnes of real gold from England to Venezuela, this shift is happening. when you see the Fed can print 16 trillion of dollar out of thin air, that shift is happening when you see our government never say no to debt and the economy is heading down again, this shift is happening.
So what is the recommended play then? Sell when the 50 mda crosses below the 200 mda ? When do you buy? When the 50 mda crosses back above the 200 mda ? Look at the chart at the start of this thread. If you sold last time the 50 crossed under the 200, you'd have sold at $13 per ounce. And then if you bought back in when the 50 crossed back above the 200, you'd have bought back in at.... $13 per ounce. Great move that would have been. Silversale - what's your trading plan then? How will you know to buy back in? Care to share ?
I found the source report for that article: http://www.silverinstitute.org/images/stories/silver/PDF/SilverInvestUpdateNov11.pdf h/t: http://www.mineweb.com/mineweb/view/mineweb/en/page32?oid=139372&sn=Detail&pid=102055
The problem with Charts... they only Predict the PAST. And they'll never make a chart predicting the Future... because the Future does NOT exist, YET !
I'm guessing most chartists that share their (hard-won?) info are unwilling to do it without newsletters and paid subscriptions.
First we have a death cross (v common formation which often has little or no bearing on price movements or ability to predict direction either way - the markets are purely sentiment-driven, as we well know) then Bro John shows us the ascending pennant on POS currently underway... We still have the ongoing problem of JPM now trying to control the platinum (& this week) the European (and via LME & COMEX - same old tricks as with silver) copper market - so the camp seems rather evenly divided right now... The resistance (serious resistance) will kick in at $38.30-$38.50 if we get that far b4 Xmas - and after that it's the big Four-O. But we could get totalled by an asteroid tomorrow, so really... Just kick back for a few months & enjoy the ride... I bloody hate Xmas pudding too.. x
This is not really true - you have left out one most important aspect - charts tell you what is going on NOW as well... kinda important to include
Ahhh, the HERE and NOW... I like that, for being interested in ZEN ! Yes, it is always HERE, but when you think NOW, it's NOW... But when you can refer about it... it's already PAST I hope you won't mind.
But to be fair i've seen it the opposite with the bulls. Of all the tech analysis i've seen on precious metals i've very rarely seen any that have turned out the way the chartists predicted. I found when it comes to charting it works allot better with currency and index's as gold and silver are still quite mysterious more gold than silver.
Hmmph , The obese guy in the wheel chair with a government given handicap and tax incentives, grants, exemptions, considerations and exclusions would have Lance Armstrong begging for a Vaseline grant that would never be given to him in this day and age. A numbers game for sure.....
100% agree. It's like people playing roulette, and seeing 1,000 red numbers in a row, and assumes the next number must be black (more often than red). Buying low, to sell the next high and selling high, to buy the "next drop" is gambling. History does not influence the future.
