Thank you! Looks like I'm gonna be dead on my feet tomorrow at work and everyone's going to have squiggly red lines all over their faces lol
Short sellers profit taking or a genuine rally you think? I have a feeling we may see another leg down this week.
I've been on a plane all day. Got off the plane this arvo east coast time, settled in at the hotel had a quick feed and hit an intertnet cafe. Logged into silver stackers...then picked my jaw from the ground... Wish I was back home at work today in Perth, would have been able to wander down to the mint to pick up a few small bars... Hopefully the price remains flat until I get home on Wednesday. Or even betters , it drops further. I have my wheel barrow on standby BG
I think we have seen the bottom. Just from the sentiments in this thread, we see most people thinking low $30's as an excellent entry point (and it is, imo) but might bob around here some more looking for direction before beginning to reclaim all the territory lost between here and new highs. I think what has happened is an overshoot of the $32 support line, due to the selling momentum and it will consolidate there now before continuing higher. You can see the next level of support in the weekly chart below is around US$19 to $20, so I can understand your perspective of a possible re-test to that level, but I personally doubt it. For all those who, two weeks ago, were hoping to purchase in the low $30's, it looks like this is your week while it consolidates around the US$31 to $32 support area. For all those who were lucky enough to buy the dip at US$26, happy day's! You're already ahead. Source: http://stockcharts.com/freecharts/gallery.html?$SILVER
Damn, I got greedy waiting for an ever-lower price. Seems like it really is on the way up now. Mind you, even when it was $27 AUD briefly, it didn't really matter since most dealer sites didn't update their prices quickly enough (or were sold out of everything except for boring bars ... I want coins!) Now whether to buy at $32 where it is now to try and offset the rest of my stack I bought at $36.90, or wait and see if further bad financial news later this week sees a return to the $20s. Decisions, decisions...
I pulled the trigger around $31 after waiting to see what happened and I missed the descent... I decided to put something into now while it's still cheap, than kick myself later if we don't see another drop below the $30 in the near future.
Do what I plan to do, use some of my available cash/fiat to buy at 32 about 1/3. Should it dip another 2-3 dollars 1/3 more, then a direction should be established and the remaining 1/3 can be spent.
Stop been so greedy, if it's below your average price - buy more. That's all there is to it. Lower your average.
old man told me "odds are your not gonna buy at absolute bottom and sell at absolute top". Im happy with this price, last week we would have been killing for them, so Im gonna get some
Gino, I think your estimates are fairly accurate. If there wasn't the biggest of all European bailouts being discussed at the moment I think there could have been a chance that we would see $20 going in the next few weeks. This ECB money printing will stop that from happening now I think. Damn it!
