He is back amongst us. Let us welcome the prodigal son warmly to the fold. An excellent sign, as stella has stopped waiting for $21 [youtube]http://www.youtube.com/watch?v=yq6BhITy4HU[/youtube]
Good old stella. I wish I sold in the high 40's and was getting back in now. He puts it all out there (even when he doesnt have to) and always cops flak for his decisions, even if they turn out to be pretty good choices once the dust has settled.
I thought sentiment was high right now. I think this guy is pulling his viewers legs What about the double head and shoulders upside down reveerse that franklin saunders yammers on about? Also I picked the bottom at $27 if anyone goes through the posts here. When it was mid 30s ( I got this from credit suisse's future buy price of silver directly from mines in 2012- figured they wouldnt prebuy below future spot and would be in the know. Coincidence? Maybe)
I like the way Stella thinks. Best stock buys I've ever made I felt absolute despare after purchase. The worst buys, I was in absolute euphoria that the price would explode.
I'd go with low personally. Lots of selling, much less buying. Noticing things having to be reduced down to spot price (even with spot at only $31/oz) to be sold quickly now.
I've been tracking the inventory of 100ozt silver bars listed at Apmex just about every day for the last few months. It's not a rigorous, scientific process, but after a few months now, it gets easier to read possible messages in the data. Over the last few days, sales volume of 100ozt silver bars seems to have slowed way down.
'To double my money silver'd have to go to $100 but to halve my investment it'd only have to drop to $25 - so I got out' - 'I'm now 'invested' in silver in a big way again' - 'I'd LOVE the pos to go to $25' - Wow. Sentiment is static - neither increasing nor bottoming - and sales are slow at most of the major dealers - have been since the last dip.
ASE sales for March 2011 Vs March 2012 are down about 25%. ASE monthly sales can be a little unscientific but gives an indication of the buying trend. That said, who actually believes the silver price is set according to physical ?!?! In any event, the "market" seems to be saying that without QE3 the silver (and gold) markets are overbought. Really? REALLY??? Precious metal investors rely on further paper printing to justify buying metal, is that whats being said? Looks like a knee-jerk sell off that if it stops at the resistance point of around $31US you'd expect to see it bounce up from there. If it goes down close to $30US then yeah, next stop could be $26.
