Discussion in 'Silver' started by Shaddam IV, Sep 3, 2019.
It seems you won't put your money where your mouth is so I ain't got time for old man ramblings
That's quite the fall, 8.3%
selling some silver
buying some gold
$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.
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.
Well it was only a couple of months back we all got very excited about $28 silver
Time to buy again
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.
Wait a bit moe', it dipz deepa'
Time to finally buy that Dip!
Maybe can dip $1 to 15.70 usd but not much room lower from here . Upside $21/26/28 32-32 in US dollar
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.
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
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.
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.
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.
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.
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.
^^^ out of all my stack these are the best. A wise choice for any stacker
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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