Is silver being set up for a catastrophic fall?

Discussion in 'Silver' started by SpacePete, Dec 10, 2014.

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  1. SpacePete

    SpacePete Well-Known Member Silver Stacker

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    Anyone feel that the recent spike in the spot price is a bit of a setup? Maybe the price is about to fall off a cliff, at least temporarily.
     
    SpacePete, Dec 10, 2014
    #1
  2. Miloman

    Miloman Active Member Silver Stacker

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    I hope so!
     
    Miloman, Dec 10, 2014
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  3. finicky

    finicky Well-Known Member Silver Stacker

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    Absolutely. I'm conditioned now to be surprised by good events for silver and completely unsurprised by bad events. Completely serene.
     
    finicky, Dec 10, 2014
    #3
  4. Silver Soul

    Silver Soul Well-Known Member Silver Stacker

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    Don't get caught with your pants down! I feel it will get smashed soon.
     
    Silver Soul, Dec 10, 2014
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  5. sj2can

    sj2can Member

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    Does anyone know any of the key points behind the last two late X-mas drops?

    On a side note - I'm a bit worried any reasonable drops will be counterbalanced by the weakening AUD.
     
    sj2can, Dec 10, 2014
    #5
  6. phrenzy

    phrenzy In Memoriam - July 2017 Silver Stacker

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    Keeps bouncing off $17 like there is some support there but I fear she won't hold. I really hope there isn't a big drop because I really wasn't planning on buying more silver but I don't know if I could resist $500 perth mint kilos.
     
    phrenzy, Dec 10, 2014
    #6
  7. sammysilver

    sammysilver Well-Known Member Silver Stacker

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    Part of the reason is commercial. Consumers sell their metal to pay for Christmas presents, holidays credit card bills etc. business sell some to cover holiday pay, quarterly taxes etc.
     
    sammysilver, Dec 10, 2014
    #7
  8. trew

    trew Active Member Silver Stacker

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    honestly ?

    Spot price is determined by the futures market.

    What has consumers selling metal for Christmas presents go to do with it ?
     
    trew, Dec 10, 2014
    #8
  9. Phiber

    Phiber Well-Known Member Silver Stacker

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    Business sell to cover holiday pay?
    Hahaha You can't be serious!
     
    Phiber, Dec 10, 2014
    #9
  10. Miloman

    Miloman Active Member Silver Stacker

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    hahaha, nah he meant litecoin right Phiber, how's that working out for you?

    Some people were actually serious and put money and metals to buy that. It kinda makes anything else seem reasonable.
     
    Miloman, Dec 10, 2014
    #10
  11. Phiber

    Phiber Well-Known Member Silver Stacker

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    I've got no idea what you're going on about, but you need to chill.
     
    Phiber, Dec 10, 2014
    #11
  12. leon1998

    leon1998 Member

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    The smashing just kicked off.

    $17usd is hard to hold; price action seems more like short-covering recently.

    I would short GLD or GDX; and take advantage of this manipulated market.
     
    leon1998, Dec 10, 2014
    #12
  13. StackyMcstackington

    StackyMcstackington New Member

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    Sometimes in stacking you feel the fight is over
    And it seems as though the price is on the fall
    Silverstackers you finally made it, but then the picture becomes tainted its what they callllll
    The riseee and faallllll
     
    StackyMcstackington, Dec 10, 2014
    #13
  14. TreasureHunter

    TreasureHunter Well-Known Member

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    [​IMG]
     
    TreasureHunter, Dec 10, 2014
    #14
  15. Altima

    Altima Well-Known Member Silver Stacker

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    Hmm. 17USD still holding!
     
    Altima, Dec 10, 2014
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  16. ryan71

    ryan71 Member

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    I look at charts, 1 month, 1 year, 5 years, 10 years... it could go up or down. You got a 50/50 chance of being right.
     
    ryan71, Dec 10, 2014
    #16
  17. sammysilver

    sammysilver Well-Known Member Silver Stacker

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    sammysilver, Dec 10, 2014
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  18. banks kept their metals

    banks kept their metals New Member

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    US Markets down big time today.

    I think a Federal Reserve person is close to going to CNBC and talk to the Lesman person and they'll have to "hint" that they won't raise the interest rates until, what will it be now, let's say late 2015, that should keep Wall Street happy for another month or 2.

    then the markets will rally and metals will drop again........ but this game cannot last forever in my opinion.

    Keep on Stacking when the Fed's talk.
     
    banks kept their metals, Dec 10, 2014
    #18
  19. dccpa

    dccpa Active Member

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    dccpa, Dec 10, 2014
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  20. SpacePete

    SpacePete Well-Known Member Silver Stacker

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    I'd wear a rocket pack and silver crotch guard.... and nothing else. I would be like a silver super hero.
     
    SpacePete, Dec 10, 2014
    #20
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