Once $USD50 is reached, which is looking almost certain and pretty soon, there will be significant finance media coverage as silver will now be at all time highs (surpassing 1980). This "free" marking for the white metal will only serve to bring the devils metal into the investment radar of an ever increasing number of people.
Just my prediction, but I think after hitting $50 we'll see an immediate pull back, maybe around $4-6 due to profit taking. Might trade sideways for a few days after the drop before testing $50 again. I believe $50 may be a resistance level for a while as we've seen practically no resistance or corrections for quite some time.
You know I get a funny feeling since everyone expects it will correct at $50, it may just keep going higher and higher instead Wouldnt that be something.
It's all a guessing game I suppose. Just seems abnormal that there hasn't been a correction or even a mild pull back during this run.
I'd like to see a big pullback, just to load up once again. Will be interesting to see how much media coverage transpires once it does surpass its all time high, for sure. TBH, I really didn't expect it to ascend quite this rapidly this year.
That's my feeling too. It just makes so much common sense when it comes to peoples incentives and how they behave. $50 is a psychological barrier. There'll be people taking profits which should drive the price down a little. I was briefly thinking about taking some profits, so if I thought it then a whole bunch of other people have and a lot will actually do it. The media will jump on it, but it will take a few days for them to do that I think. In the meantime, the profits will have been taken and the price will go down. IMHO
I don't think SILVER will correct that much after $50 oz i think it will keep on going higher and higher... if a major correction takes place I will walk naked backwards over the SYDNEY HARBOUR BRIDGE with my 1000 kooks and koala's in tow.....
I reckon it'll just be lost amongst a deluge of other records that'll be reported; cotton, wheat, rice, sugar, cocoa, rolled steel, unemployment, inflation....
Its funny people are expecting a pull back for a while and not buying.. Would it not be the same if you buy now and hold rather then wait for a pull back at 50 which might take it back down to 44-46, which is current levels? I guess its that mental sense of a bargain.. "It reached 50 but I bought the dip at 45"? Sounds better than "I bought at 45 and it went to 50 now back to 45"?
Who said anything about not buying? My strategy is to buy and sell all along the way. It's foolish to think that there will not be a correction at some point. All markets correct. After the rise we've had, and based on the momentum, a good 20% correction is due. Doesn't mean it will happen, but that is just my feeling.
Mid year correction i think, no market goes straight up, if it does it's extremely unhealthy and is evidence of mass hysteria (hence the peak of the classic bull market graph)... last time i talked to my hairdresser she didnt mention silver - so we're not there yet, but a healthy correction is due
How much silver will need to be sold by those willing to step out at a vertical slope, to break the sharp rise? All hands, who'll sell their silver at $50 fully expecting to later be able to still get it back significantly cheaper? All recent attempts at a correction were very quickly sold out, it seemed, and each times the buyers were rewarded more than sellers. It all boils down to : how much silver is still waiting for customers to show up, and how many people are prepared to reduce their position to enable others to get in? I used to believe the $50 intermediate top as well, but the outperforming of all my expectations is changing that. I have not entered selling orders (leveraged silver) yet, as I had planned to. My physical is going no-where until I can trade it for something way better. I'm letting my leverage diminish as we take distance from my stop loss, that will need to be my safety buffer if we do end up correcting badly. But if we don't, I won't be sitting on cash while the markets rockets and doesn't allow a soul to go physical. Perhaps that's a manipulation strategy by those pulling the strings: make people expect a drop-back, and then just gap up to $70 forcing them to get out, or get in expensively. Whomever in, will be most commited after that. If my leveraged postion holds (I don't chicken out) until $70, I will will be very satisfied, and ready to buy $70 silver is there is any to be had at all.
Why is 50 dollars resistance?? Silver made this high 30 years ago. Is it likely that a number of sellers between 60 and 100 years old are going to flood the market after sitting on there silver for 11,000 or so days sitting on their investment. While many commodities are trading at all time highs silver is lagging behind albeit catching up quickly. When hits 50 i will be buying......still
I ignore the $50 resistance barrier because in todays dollars thats equivilant to about $135. So todays $50 price is no different to the 1980s $18.50 price barrier.
The sheeple wont see the difference. regardless of inflation. $50 dollers is still $50 dollers. looking at it simply its now the most expensive silver has ever been. Watch the sheeple come flocking to silver when it reaches "all time high"
To those that got in before today, the sheeple are most welcome to only be convinced by ATH's, I suppose? I only got in, small time, at $33.33, but I would love the sheeple to take it from $50 to $150 over the next few months. Let them believe in $500 silver over 2 years like I believe in $400 in 10 years.
