The chart speaks for itself. You can hear the usual rhetoric coming from the mainstream believers BUT seriously? This is pretty awesome stuff, they are discounting it for physical buyers. See chart. I don't give a crap about the paper market. It's funny how the greek exit is bringing a flight of people to precious metals and in a massive effort to make them look unappealing, the commercials are smashing the crap out of it. The song of the day... Enjoy it! [youtube]http://www.youtube.com/watch?v=vWz9VN40nCA[/youtube]
This is not awesome stuff, it is perfectly normal and expected market dynamics. I notice there was no WTF for almost the same significant Vol increase for the spike upwards just a few days before? Not surprised though. Maybe the volume spike down balanced the previous upwards vol spike as traders ran for the exit on a break of support? Both of these price movements were breaks of short-term support/resistance, where significant volume spikes occur as price moves through these levels and is usually expected in all markets. There is simple factual reasoning for this involving market depth distribution around these price levels - and it is the existence of these distributions that make successful T/A possible. Yes - it is very normal, and quite predictable in both directions.
Olivia..... Some good stuff came out of Australia. Always loved The Little River Band and I used to watch The Paul Hogan Show in the early 80's. Yep, they had his show in the US.
No no no! It does not sound as impressive if we report the up spikes as well. How are we going to justify MANIPULATION if we report both sides?
I would expect the Quantitative Easing of the EU to make the PM market increase and commodities in general to increase in the next year. Whats the thoughts on that from some of the senior stackers here?
Well i would take the view that QE will be push down the price of metals. The extra money that is reported to be printed will give the impression of liquidity. Regardless of whether the money is making it into the hands of people OR NOt does not matter. We have been here before so we have a gauge. With the usa QE we saw huge gains in the markets and massive loss of value in metals held in hand. I see absolutely no reason why this will not be the case here. Greece does not even enter into this . Greece could succumb to an earthquake and be swallowed whole and the markets would only show minor disruption. These are my own personal views and the views i will use to make my financial decisions Edit: I should probably add that i do not see QE as a little helping hand to stimulate things. I see QE as Government or whatever entity saying "we will do what ever it takes to make things flow" I see this as a clear signal for all markets and market makers to do whatever they want and any mistakes will be taken care of. Simple i know, but this view has served me well (so far).
I've only been in the market since 2002-2003. Oh and I've been charting for 19 years now including EW analysis. So I'm no expert like you. Also people here think that it's a negative thing with the price going down. I don't, its always been a long term game, which is great for buyers. I keep saying it and I hope it stays down long enough for me to be able to afford my third ounce of silver. But hey what do I know? Oh btw that's not my chart, it's zero hedge and you'll note that distribution was higher not on the recent decline, you can check the data. My commentary and humor stand. Listen to song. EDIT: Also both volume spikes are significant for different reasons. And I agree in pointing them both out. Though the recent spike it considerably more significant.
I've got a number of years on you in the market and T/A, but I am by no means an expert... though I'm flattered you'd think that. Whilst I am now slightly confused about what you were trying to say, I'm sorry if I poo-pooed on your attempt at humour/sarcasm. I just saw an amateurish validation attempt of the manipulation theory, (which is now understandable since it was sourced from zero-hedge) and saw red... my bad. But I don't like to leave fodder lying around for the poor cattle. Vol was higher... for a 5 min interval... on the spike down. Vol Distribution was wider for the spike up... you can check the data. My commentary stands too.
Yeah, but they've been saying that sort of thing since I started buying three years ago. I ignore pundits now altogether. A coin-flip seems as accurate.
Very simple dynamics at work here. Pms down = manipulation by the banksters. Pms up = we, the pure and righteous pm buyers, have overcome the evil banksters.
I hear and read this a lot "wash out the last of the weaker hands" I know what it is supposed to mean , but who exactly are the weaker hands supposed to be? Is it the few stackers around the world with their insignificant stacks, or the big players looking to cut losses? I am glad you posted his "Chris" opinion. These are the comments i would expect from the pumpers like Morgan and Schiff trying to justify their stance. The weaker hands theory is great for selling to those that are expecting a massive rebound when the weak finally succumb and the banksters ramp up the price as it is only they that now hold metals. In the real world we should all know by now that a steady price is not going to make us money . In the real world we need up and DOWN moves to make any returns.
Its seems many have a buy and hope approach to finding a bottom in the price. This to me just creates worry and despair when/if the price drops further. Personally, I feel a much better philosophy is to "Dollar Cost Average". Sure its not and aggressive approach, but nor should it be in such a volatile market. You will only know the bottom in retrospect. Be sure someone will time it right and go all in at the bottom, but this will be either luck or based on information you and I just don't have. DCA and you can be sure that you will buy at some metal at or near the bottom. As for the so called pumpers. Lets face it, philosophically I think most people agree with their points or at least once did. Sure we tire of the rhetoric, but what have they got so wrong, the problem or the timing - Perhaps both. Fundamentally though, if your still in it, it's because you have a strong sense that something is not right with the system and you want to protect yourself financially. The GFC was real! The Point - If you still believe all the reasons for buying gold and silver remain, then back yourself and buy more as it get cheaper. Just remember to sell it when the times right. When's that? Missed by many, understood by most! Also - Enjoy it a bit, buy the odd "Fancy coin" you just might start to make some money for reasons you don't understand....
