$28.00 Silver.

Discussion in 'Silver' started by Shaddam IV, Sep 3, 2019.

  1. Court Jester

    Court Jester Well-Known Member Silver Stacker

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    It seems you won't put your money where your mouth is so I ain't got time for old man ramblings
     
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  2. SilverDJ

    SilverDJ Well-Known Member

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    That's quite the fall, 8.3%

    upload_2019-9-9_12-22-23.png
     
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  3. valuecreator

    valuecreator Well-Known Member Silver Stacker

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    selling some silver
    buying some gold
    happy times!
     
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  4. SilverDJ

    SilverDJ Well-Known Member

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    $1 jump back up today, $28 soon by the looks of it.
    Just bought a bunch at the drip at $25.62 on the 15th, looks like a good call.

    upload_2019-9-24_11-1-38.png
     
  5. TreasureHunter

    TreasureHunter Well-Known Member

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    I'm thinkin' in USD. If I'm not mistakin', then the Fibonacci levels for silver are:
    8, 13, 21, 33, 54, 87 (USD)

    These are the "strong" levels between which it will "dance", should the bull market ignite decisively.
     
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  6. Silverman99

    Silverman99 Well-Known Member Silver Stacker

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    Well it was only a couple of months back we all got very excited about $28 silver

    AD6396DB-38A8-4596-B0D0-560E76D75317.png
     
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  7. Silverman99

    Silverman99 Well-Known Member Silver Stacker

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    Time to buy again
     
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  8. SilverDJ

    SilverDJ Well-Known Member

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    If it was good enough at $25.62, I guess it's good enough now :->
    Although my spidey sense tells me it's going lower.

    upload_2019-11-9_1-21-54.png
     
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  9. TreasureHunter

    TreasureHunter Well-Known Member

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    ^
    Wait a bit moe', it dipz deepa' :D
     
    Last edited: Nov 8, 2019 at 7:29 PM
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  10. sellmeyourbullion

    sellmeyourbullion Active Member Silver Stacker

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    Time to finally buy that Dip!
     
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  11. Tokyo

    Tokyo Member

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    Maybe can dip $1 to 15.70 usd but not much room lower from here . Upside $21/26/28 32-32 in US dollar
     
  12. SilverDJ

    SilverDJ Well-Known Member

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    Agreed. Having a look at the 5 year graph, there is considerable long term support around that US$16 mark. Downside at $16 is not worth worrying about.
    For those averaging I wouldn't wait for $16 as it may not get there.
    No point looking at the AUD price, that's just a figment of the independent AUD movement.

    upload_2019-11-10_0-23-38.png
     
  13. Tokyo

    Tokyo Member

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    Looking at 15.70 as Y Fibonacci expansion (WXY pattern) level =as micro wave4 very technical.
    I be watching for price action as my buy signal into key level next week
     
  14. TreasureHunter

    TreasureHunter Well-Known Member

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    TRÜ - as the say in 'Stralia.

    Anyway, I don't expect much of a change, because dealers tend to blow up the price with every dip. Might be a bit cheaper now, but if it dipped down to 10 $, you won't find silver at reasonable price.

    They'll blame "shortage", but will in fact have bucket loads of monster boxes in the depot, waiting for the higher price again. This is how dealers deal with us.
     
  15. SilverDJ

    SilverDJ Well-Known Member

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    I've never seen that. The opposite in fact were I can watch the online dealer price track the fall in spot price. They might increase the margin if it gets too low perhaps, but I have never seen evidence for that, let alone ever seen the dealer price increase when the spot price drops.
     
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  16. TreasureHunter

    TreasureHunter Well-Known Member

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    Back 5-6 years ago, after the fall of silver's price, all dealers were charging heavy premiums over spot, especially on silver. Many people saw this. It took a very long time for their price to adjust to the real market value price.

    This will happen again, next time, when silver drops too low.
     
  17. SilverDJ

    SilverDJ Well-Known Member

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    Why is that going to happen again? (I came into the game after the big drop, so I haven't seen that)
    Unless the price suddenly plummets by a huge amount in a short time, dealers are unlikely to be left with old stock.
    The way dealers work is they always want to minimise their inventory, and when it all comes out in the wash price changes do not affect them because they work on an immediate sell-buy system. i.e. if they sell a 10oz bar they immediately buy a 10oz bar to replace it, all at the current dealer price.
     
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  18. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Just placed order for 5 pieces of 10 oz bars. Was going to collect my gold rat from the dealer anyway so might as well.
     
    Last edited: Nov 10, 2019 at 10:24 AM
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  19. Silver Soul

    Silver Soul Well-Known Member Silver Stacker

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    ^^^ out of all my stack these are the best. A wise choice for any stacker
     
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  20. TreasureHunter

    TreasureHunter Well-Known Member

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    Perhaps we're not watching the same dealers - the ones in Europe are notorious for high premiums, especially on silver (partly due to the fact that almost all European countries charge VAT on silver).

    What I think is that dealers buy stocks of silver at price X, then if the price drops by -30%, they'd be "stupid" to sell at a -30% loss.
    This is the reason why dealers push high premiums after sudden major price drops. At least, that's what I've seen back in 2013-2014... Just my personal experience. Yours might be different.
     

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