Source: Clive Maund I'm not sure if this has been posted before, but WOW! This chart looks like it's right so far. Clive's prediction of a smackdown to the support line is almost on the money. If he is right again, it means down to the 20s! Fantastic buying opportunity dare I say?
Thats great but will we see $100 a oz at some stage. These charts show a lot of bottoms not alot of tops?
He must know a few boys at JPM, even Brother John took his advice and shorted some paper silver before this big drop.
He half picked it, little conviction & with a conservative logarithmic chart that doesn't show the full extent of the move (I expect).
!!!WARNING!!!: Those of you who only like to read super bullish silver articles look away now. Perhaps the chart posted doesn't show his expectations of the decline but his words certainly do indicate the extend of the decline he's expecting: Source:http://www.clivemaund.com/article.php?art_id=67&PHPSESSID=8306aade1f1858a7f9601391e0983c22
I don't want to rile up those who prefer not to read anything bearish about silver hence the warning. And having read the past few days on various sites/forums words being used such as anger, everything being put into silver, etc, etc I'm wary about people's emotions right now and have no intention of pouring fuel on the fire. Myself, I'm buying up/down/sideways at regular intervals but I'm only in silver on a philosophical basis (criminal banksters, SLA, crash JPM and all that)
We are entering into uncharted territory now economically. Silver is speculative, but it is the wold's most strategically important metal, it is rare and countries like China are looking for things to buy with their US dollar holdings. It may well crash into the '20's, but unless technological civilisation also crashes, there will be a day when silver is more valuable than gold, and it will be fought over as oil is now. How far away into the future that is I have no idea. Not being a bull about silver in the short term, but there are a lot deeper, stronger currents around this metal than mere charts can show. Personally I believe that there is an agenda in place around his metal, and one morning one day in the future the world will wake up to find that silver is not available to buy anywhere. That may be decades into the future mind you. Right now, who knows?
Time to forget the fiat worth of the stack, and start thinking of it in ounces. If you have a few grand in your savings from your income and have little liabilities to pay off, you should care less of the scary fiat numbers that are being put on silver right now. Just pay the bills and keep looking forward.
If the bottom could wait till Wed. before it's inevitable rebound I sure would appreciate it...hear me Silver Gods? Btw, I see a drop to mid to low 20's, which is why I bought at 35 and 33 but not 31. If I'm wrong and it climbs next week I'll but at 32.
Well I've been umming and ahhing about whether to buy this weekend while the price is locked in at $31.70 ish. Basically the whole "when markets open Monday, is silver going to keep falling, or rebound strongly". I think it will be one or the other ... doubt it will just meander along flatly. I definitely need to buy SOMETHING during this dip because I bought a bit at $36.90 on Friday (cause it found support there for an hour or two and I thought that was the bottom of the dip - oops!). If I can grab some more in the 'real' bottom (wherever that is) then my cost averaging should work out pretty nicely. I think I'm now leaning towards the "gonna keep falling" side, so I'll wait till Monday or maybe Tuesday before buying. Don't think it will absolutely collapse, but high 20s is a possibility...
Yes Cimexus, I completely agree with your first quote. Good idea with the cost averaging. I was planning on buying some now and some later if it falls again too. I definitely must buy something!
If a chart could forecast the future price of anything do you think the authors would be wasting their time plotting & sharing the data - No Way Jose !!! If it was so easy we would all be billionaires. Even the weather forecasters find it difficult to predict the weather 24 hours ahead using some the world's biggest, most expensive and fastest computers.
