I reckon we've seen the last of $26 Silver. This week it might get to $30 if $33 can't hold. My 2 cents.
Silver going sideways is not a good thing for the bulls, I don't think. Anyone know what levels technically would signal a breakdown...or a break out?
I've got short <$33.00 for a drop to $26.00. Long >$34.50, but a lot of resistance to push through between $35.00 and $35.70, then another strong resistance area around $37.00. Yep, $26.00 looks very possible. Below $26.00 who knows what will happen.
Wonderful, it's starting to go down right after I put in an order for a tube of Meese (multiple Moose coins)
I'm expecting 2 more smackdowns before end of Sept 2012 to $26-27.50 range - likely on public holidays/long weekends and/or distracted by military action against Iran / the 'liberation' of Syria.
Mate - Keep a keen eye on my Twitter feed - there was one article by BrotherJohnF on SilverisMoney yesterday which detailed all the various long/short positions outstanding currently - that shows where sentiment lies moving into Q3 & Q4 2012...
Why are you screwed? I have plenty of silver I bought at higher prices than what it currently is. I will only be screwed if I sell for way under these purchase prices. I don't intend doing this, nor should anyone else buying silver today. It is undervalued and unrecognized. Buy, Hold and Profit.
Nicely Put. I do like the small dips...as I buy a bit and save a few $/oz, but I am in it for the long run...well semi-long run. People always ask me: "What are you going to do when silver tanks?" my reply is go and buy some more.... as it cannot stay down for long and will be back higher than ever.
Thats the thing I may soon be forced to sell at these prices due to unforseen circumstances, I'm running out of options . I want to hold as long as possible obviously and would love the ability to buy low now to reduce cost price average .