So what he is saying is. Silver may go up... Or It may go down... Or It may go sideways? Aka - I have no idea. Technical analysis is a fools game, particularly when fundos are driving the world markets up and down.
The first long term scenario he's putting forward is horrendous for all but the most stoic silver holders. Even though he sees the possibility of a particular bullish technical pattern forming - 'cup & handle' continuation - it is so long term that it can encompass what looks to be a few more years of downtrend until the low of ~10.50 is reached. So that scenario is for our purposes a bear market that we're in for silver. Cup & Handle continuation pattern http://stockcharts.com/school/doku...._analysis:chart_patterns:cup_with_handle_cont
I'm new to silver but understand enough to say unless u trade commodities daily who cares about what happens today, next quarter or over next few years. I'm getting into silver just to freeze some cash. I look at silver as insurance not investment. Sure in 10 - 20 years it will have become an investment but until then put ur crystal balls away. Silver production is increasing not declining so give it at least 10 years before it explodes like gold did. No one is getting rich anytime soon off silver I just don't see every average Joe with 50-500 oz making six figure profits all around the world, London wouldn't allow it, wouldn't that create hyper inflation as they know how much silver is in the publics hands?
I'll break it down for you then Who's getting rich off silver? No one Who knows when silver will ignite? No one Is silver supply keeping up with demand? Yes London making everyones dreams come true of buying that Ferrari you always wanted? Doubt it.
Well no matter how this thing comes crashing down some of the public will become much more wealthier and as I can see thus far PMs seem like the best option
My point exactly, it wont go anywhere for a while to get confidence down on it, specs and traders will sell while London buys then when it suits them then they'll go half way towards the real high for a bit to get all those people who knew what was happening to sell allowing them to buy the silver patient people were holding onto then when that starts to slow down they'll put It up to gold territory and have a monopoly on silver. This will start when supply slows down which won't be for another 5- 10 years as new silver mines have been just starting up all around the world.
Yep, but when banks such as JP buy silver it's not always in the physical form right? Isn't that what they do ? Fractional banking I.e leveraging silver stocks they own to control the price of silver they dont have? Before they or London increase silver price like gold they would have to try to gain more physical silver first by lowering the price so low it scares everyone to sell then they buy because you can only leverage so much before you need more of the physical stuff right?
you are so right. i watched bob chapman. then i watched mike maloney and then read peter schiff etc. i realised i have taken wrong opinions. i have lost thousands in silver etf. and have yet to earn from physical silver bullions. its right that what has gone down will go down further. i am going to sell all the bullions soon.
For balance, a comment on the other scenario he envisages By omission he doesn't seem to give the recent low of ~$26 much of a chance of holding as a bottom. His preferred scenario is that the 'channel' (drawn at 4.08 in the vid) will control the price ahead. The candles (bars) that he uses are quarterly, and by this view the next quarter or two should see the support line of the channel tested at about $20. Any dip below this would be brief and set up a possible parabolic rise. For mine, I'll be giving his ideas more weight if silver has a weekly close below $26.
it now makes sense why mike maloney posted a 90min seminar on you tube in August. Perhaps trying to cash in before the Deflation kicks in?
