Something has changed within me Something is not the same I'm through with playing by the rules Of someone else's game Too late for second-guessing Too late to go back to sleep It's time to trust my instincts Close my eyes and leap! It's time to try Defying gravity I think I'll try Defying gravity And you can't pull me down! I'm through accepting limits 'cause someone says they're so Some things I cannot change But till I try, I'll never know! Too long I've been afraid of Losing love I guess I've lost Well, if that's love It comes at much too high a cost! I'd sooner buy Defying gravity Kiss me goodbye I'm defying gravity And you can't pull me down: So if you care to find me Look to the western sky! As someone told me lately: "Everyone deserves the chance to fly!" And if I'm flying solo At least I'm flying free To those who'd ground me Take a message back from me Tell them how I am Defying gravity I'm flying high Defying gravity And soon I'll match them in renown! And nobody in all of Oz No Wizard that there is or was Is ever gonna bring me down!
Well, admittedly I was hoping your long reign was over and finally silver was about to break out of this coma. It seems that you are about to be vindicated yet again CJ and your long running <sideways> call will remain basically correct. A brief blip upwards and yet another slam down. I managed to flip some metal at a very small gain during the euphoria and hype caused by this sucker rally but back to darkness again it seems.
It could lose a few bucks from here and still look like its going places on a monthly chart. Something has been changing for silver in the bigger time-frame. http://forums.silverstackers.com/topic-75399-silver-etf-asx-listed-etpmag.html
3 years LHS downtrending to final low RHS uptrending from final low The prior action to the 3 year period shown was a strong downtrend as we know. The LHS of the period shown is a shallower downtrend. This is then mirrored from the low by a shallow uptrend on RHS. This uptrend has been intensifying in volume and volatility during the last three months. Its a completed basing chart in my opinion I will show it better with a chart when i can get to a desktop (this is mobile)
You can go looking for it on bigcharts under AU:ETPMAG, but for a few months the monthly bars have been breaking to the upside of the bollinger band, which hasn't happened since the top in 2011 - 5 years ago! Volume has been rising, higher high has succeeded a higher low, and it has just surpassed prior resistance of $25 (Dec 2014) Silver etf ETPMAG in aud monthly
Why do you guys insist on feeding the Troll...? If you ignore it, it will get shrill for a while but inevitably die...
not a troll, just voicing an opinion on the price of silver over the long term. who know this uptick may last more than 2 weeks and then go onwards and upwards no longer <sideways> maybe
ok where do you think it will land and settle at in AUD price terms? at the moment I believe it is Defying Gravity and will come crashing back down to AUD $22-24 soonish (within 2 weeks) [youtube]http://www.youtube.com/watch?v=mQ_9kun4OQo[/youtube] (more uptempo version than Idina Menzel)
I just sold my unallocated holdings that will do for now getting my allocated shipped to me so I hold it and can unload it if these prices remain high.
Jester, my comments haven't been about the daily or weekly performance. The price is volatile and does look like its "defying gravity" in those time frames. Cant disagree that 22-24 looks possible. Looks like it needs a rest. Just because the aud silver price is now around where it was 3 years ago, i dont see that as 'sideways'. The price was declining going into late 2014, and since then has been climbing. From the monthly chart, it is now accelerating, whatever might happen over a few weeks or even a month. Have you noticed on the weekly chart (for ease of viewing) that the price on the climb out has now risen above not one, but the two final peaks made on the way down?
like I said in the low 20 range where it has been bouncing around for the last 3 years if you were buying over that time-- for all pratical purposes with the buy / sell spread ( and premium fluctuation -- where you may not get it back ) + postage to hold the silver you would be sitting on a slim profit now. and don't bleat -- but you can sell it here to keep your premiums as I have said its a buyers market now -- plenty of silver at or under spot = no premimum and by the time it sells this small blip could be over. e.g. i have for sale 7kg of florins at 4% lower than the spot price and so far no bites -- so selling here in this type of market is not even easy UNDER spot.
silver bought in the 80's and held on to STILL -- is a bad investment so you are correct im trying to sell my silver as the price is about to crash back down. I suggest you do the same with that silver from the 80 and put it into an investment that actually makes good returns.
