Anyone got a firm opinion on where silver prices and the AUD are headed over the Easter period? Will we see a general stabilisation after the last few weeks of spot and exchange rate moves?
I think we'll get an inkling over the next few days. Traditionally, PMs rise August to Christmas and January to Easter. We then get the Easter smackdown over 6 months, and start all over again. However, the past year has gone against expectations, because of, I believe, QE pumping money into the US economy, keeping Stocks buoyant and thus PMs down. One of three things will happen:- 1. Nothing, more of the same. 2. Nothing, followed by a smackdown in the next few weeks. 3. Something, a realisation by the market that all is not well and PMs will get a giddyup. Me, I'm hoping to buy at least a thousand 50s this week, fill my tank and jerry can with petrol, check my survival food supplies, fill my wallet with 100s, and spend the weekend looking for clean air and dirty women up at the Blue Mountains.
Exactly the same sauce that was on my goat shanks. Do we share the same restaurant or are you just taking the piss, which of course gives the kidneys in my steak and kidney pie that unique flavour.
Being a theologian, I often think of the the 76 virgins....but give me half a dozen dirty women every time.
I think that we are on the cusp of a major silver event. The last few years always gives us a dip at Easter, 2011 in particular. If the dip comes again this Easter, I reckon it will crucify the investors and empower the stackers. If we get the breakout, I reckon it will be supercharged, doubling in months. If it's the same old same old, i.e. SFA trumps SHTF, then we just keep stacking, building our brick cottages next to those of straw and twigs. My call:- Dip 20% SFA 30% Breakout 50% However, this is not rhetoric, I'm still chasing fifties. My only concern is that a breakout will increase the cost of these fifties.
I still see reasons for a short term tad lower: 15/04/2014 23294 $19.45 <- latest 08/04/2014 28905 $20.02 01/04/2014 28442 $19.80 25/03/2014 31755 $19.96 18/03/2014 35900 $20.84 11/03/2014 37634 $21.32 04/03/2014 39769 $21.14 25/02/2014 38985 $21.81 18/02/2014 32853 $21.62 11/02/2014 22417 $20.135 04/02/2014 14852 $19.525 <- reference 28/01/2014 21033 $19.59 latest - reference = 8442 x 5000 = 42 Moz, so a rude 0.5-1 price dollar lower. What it will be longterm, I dunno, but 2008+ Exchange Traded Funds and coins together are a stock as big as 1,5 years demand/supply, so I don't expect the next decade price risings other than temporary and I also doubt people will be stupid enough to pay them since they might have learnt something since Easter 2011. The only game changer would be general price risings (what the central planning thieves call 'inflation'). But then, we don't get richer in terms of purchasing power eh? Although, unlike the common perception, even in high inflation, products prices can vary alot relative to eachother, so if you're lucky that what you really wanted rises slower than silver, you may be better off. So, it's a mixed story. I'd say instead asking over and over again where the price will go, check things yourself, just look at what happened to those that acted in 2011 accordingly, all the way up to $50.
Instead of the typical higher movement into Easter, this year I suspect it was downward resistance instead. So I'm hoping for a temp drop into 20-20.5 AUD spot range next week, but let's see.
It's nothing more than absence of data. See, if one measures the temperature of a house every day at noon for 3 months, it shows a gradual trend. If one measures it 4 times in 3 months, then it shows 4 flat lines interrupted by verticals. There's nothing WTF 'bout it.
I thought the market was closed yesterday in which case the 10cent dive would indeed constitute grounds for WTF?
