The recent hiccup prices may in fact be a bull trap in the making....http://seekingalpha.com/article/1661592-bottom-is-not-yet-in-for-silver?source=email_macro_view&ifp=0 .
Only time will tell. I dont see it dropping back to $18. It was fueled by covering stops just to get down in the first place. It could be fueled going up just as easily by covering shorts now in the market. There are many factors that will lead to higher prices, bonds, stocks, war to name a few. Plus future demand from renewable energy market (solar) Would be great to load up oz at $10 but I just cant see it.
Maybe. Maybe not. Just a pity for those who didn't buy any when spot was low cos they thought it was dropping further.
Hope you're correct. My subscription service issued an alert yesterday to cash out of NUGT. I guessed that sell alerts on the miners were coming and exited all mining stocks and 1/2 of positions in PSLV & PHYS. So far, selling has been the right decision. Seems like pms & miners have come too far too fast and should be due for a pullback, but who knows? Sitting on coins and cash and awaiting the market to say which direction it is going.
True, no one knows for sure if the lows are in and it's clear that many of us would like to see a new low within the next couple or so months. That said, most of us who would like deeper lows have also made some purchases over the past few months contrary to the assertion that those of us who are hoping for deeper lows have just been sucking our thumbs passively waiting. Not true for most here in this forum, so it appears. Does greater volatility in the spot price tend to indicate a substantial drop or gain is coming soon?
