Was that the start of a new bull market?

Not ML, but I will take shot at answering your question. Bear markets have 3 phases, I cannot fathom the third phase (capitulation) of a 3-4 year bear market only lasting a few hours. For US traders, the markets weren't even open during the drop to $14.40. My opinion has been that we are in a 2-3 month bounce from the Oct-early November drop. However, I did not expect the price action of the last 2-3 trading days.

 

That's only true if you sell for spot, in many cases you'll get that premium back. If 10oz bars were $200 yesterday when the spot was $18.50 you will get $210 when the spot is $19.50, sometimes a little more. The premium is only lost if you sell your stack for scrap.

 

Thats where we are going hold on tight

 

That's one small step for silver, one giant leap of hope for stackers

 

This is what I predict will happen to that rocket to the moon

 

My LCS only pays spot plus twenty-five cents per ounce. I noticed most only dealers are not any better.

 

If you sold PM bars here for spot plus $0.50 I'm sure you'd have plenty of takers, probably plenty at spot plus 0.85 and your getting closer to the price you paid.

 

This is what I predict will happen to your predictions:



Edit: Uploaded image

 

Edit: couldn't see a pic due to work proxy blocking the site

** reserved for comeback once I can view it **

 

According to my tea leaves, silver just went back to it's last decent resistance level. Not sure what all the hubbub is about



Look at all the pretty colours. It's like a Christmas tree.

 

When CJ turns up...

sideways sideways sideways DUURP sideways sideways sideways DUUURP

 

Don't tell anyone, but there's still gap that needs to be filled at the $4.07 USD point, which occurred back in November of 2001.


Sshhh.. It'll be our little secret..

 

Silver had the biggest reversal over two days that I can remember. That's a positive event surely?

 

Quiet finicky, you know you're not allowed to use the P word around here.

Any idea of the last single days trading with this much volume? Day chart I look at only goes back to Aug 24th and its 1/3 higher than any single day and more than triple of any Monday in that period.

 

I like $17.50 and $18.00 for a reversal in trend. Until then, I'm abusing the ref from the sidelines

 

its a cows market for now.

milk spots, you name it. -K

 

I cant remember any two days like it in 13 years, but that's my unaided memory, and it usually needs some aiding.
By "two days" I mean a gut wrenching day down followed by a mammoth virtually engulfing positive candle that had a low much lower than the prior low. The low was more than a dollar lower yet the day ended massively positive.
The single candle alone last night was exceptional and can't have been many like it

 

That was one of the most impressive abrupt jumps since the big crash in 2013.