If silver was in a limbo competition it would get the silver medal right after labor's first party preference in newspolls
Sub $19 is really crazy, down 62% from peak. Takes balls of steel to hold on to silver at the rate, and balls of titanium for silver mines.
Hey Thatguy, how come predicting in days (because of end of financial year) I was thinking of opening a long position soon; as $17.49 was the lowest I was thinking we would hit before bouncing? I know you are more of a trader just wondering why your going by days instead of $. Thanks!
Check out the long term charts and see what would have happened if you brought on the 30th of June in '12,'11,'10,'09 (PS '08 was pretty crap ), may the seasonals be with you http://www.tfmetalsreport.com/comment/325861#comment-325861
The People's Bank of China has announced it will provide "liquidity support" to banks that run into cash shortfalls after a shortage of money in credit markets led to fears the country faced a credit crisis. So china starts printing money and silver goes backwards
The psychology in this market is no different to that during a fast run up, just in reverse. You know the price is low - you really want to buy - but you are afraid of how much lower it might go. Every time it has stabilized and you've thought that's the bottom, it's gotten whacked yet again even lower than you thought possible. You are afraid to buy because the price might plunge yet again just after you make your purchase - as it has done previously every time you've bought in the past 2 years! As the price gets lower, more and more people join the "it's going to keep dropping and stay down forever" bandwagon, just like when the price goes up there is no shortage of "to da moon" pundits.
well said. I'm kicking myself, but you're absolutely right. "Had I known" is the common theme here. Sub $19 silver was unheard of a few months ago. And, when everyone sees $14 silver and the demand suddenly kicks in...we'll see $25 silver in 2 weeks.
