yeah the aud is annoying, when silver falls, aud fall with it wiping out the bargain price, and when silver rises the aud rises too, minimizing potential gain......
Yes, that too. Fundamentals should be indicating positive real interest rates (actual interest rate minus inflation) for gold/silver to be a sell. I suspect that if there is financial instability it will be sentiment that drives price well past fundamentals would suggest is appropriate. That's why I'll be looking more closely at technicals than fundamentals, but fundamentals are still important especially if some kind of normalcy prevails.
actually there is no profit when we buy the ounces, we get a profit only after selling it for more that what we paid for, but the afford needed is not covered, so will still be time consuming and worst off in monetary terms.
Starting to feel vindicated about all the buying I've been doing the last 12 months. Was hard especially watching others make 30% plus in other investments. I hope this is the breakout we have been waiting for, although I have seen this play out many times over the last couple of years. So many false breakouts only to be smacked down violently which is clearly the manipulators at work.
Was quite impressive - an 88c whack in the noggins! I wonder how many millions was made off that? Yet it just feels strong. Every whack followed by a rocket. The nature of silver was irrepressible!
I don't think that was a mysterious late night smackdown in low volume that spot watchers have grown accustomed to pointing out. It was linked to changes to margin requirements in China and a lot of commodities were hit. As such I don't think there was much to it other than being a short term technical sell down. Prices seem to be recovering a bit since.
And what will the "real" breakout look like? PM's will always get smacked back down. If it goes up the 30% and then gets smacked back down will that have been the "breakout"? Would you sell? How about 50%? Double?
To my eye the cup and handle is ancient history. From there we had a break out from the downtrend and now we look to be in the formative stages of a new trend upwards. If I can use the graph of Silver Soul you can see that there is a line of support that has 3 touch points so far and I think that might be significant. It's a bit tougher drawing in a line of resistance so early in a new trend but I'd expect to be able to come up with something in the next few weeks. Then it is a question of how long the new trend holds for. It could be years or it could get trashed by a change in fundamentals next week. For now though, I remain long silver and remain optimistic it will get to $19 USD in the not too distant future
Cup & Handle the....... Bigger Picture! While many have been snoozing & crapping on sideways, sneaky silver is doing a hi ho silver away.
