Friday Smack-Watch

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^ The above is a waterfall.

(In case you don't have the custom of praying while standing under a waterfall in your country)
 
Still think it's a minor drop. It keeps wanting to break upwards somehow.
 
Not assure this isn't just a short squeeze. I think, once the ructions work through with the freeing of the Swissie and the ECB bond-buying, we will see a drop in PM prices (particularly gold).

I've sold half my unallocated gold stock on Wednesday - only a four figure sum, but significant enough to me - buying USD for now. This really was 'taking profits' because all the metal I've ever bought was at a lower spot than this.

I just think we'll get another buying opportunity in the next couple of months, and then a prolonged bull rally. I just think there aren't enough bears out there right now to keep buying.
 
A little over 2 hours to go. It hit $23.20 at midnight, so looking like a breakout to me.

The Greek election this weekend so the EU fallout will prove interesting. Don't know how quickly it will factor into next week's market.
 
Can you elaborate about friday smack watch to us newbies? Is it because you think the price change will be drastic when the market opens back up?

Eureka Moments said:
My fave day of the week used to be Tuesday until I discovered the pricing phenomenon of Silver on Fridays.

I now base my week and social life around today as it rarely makes for boring viewing. Im sure other mems share my fascination so feel free to post what you feel about Friday Smacks and their role in your life and whether you feel this week will be a SmackUp or SmackDown.
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rara200284 said:
Can you elaborate about friday smack watch to us newbies? Is it because you think the price change will be drastic when the market opens back up?

Eureka Moments said:
My fave day of the week used to be Tuesday until I discovered the pricing phenomenon of Silver on Fridays.

I now base my week and social life around today as it rarely makes for boring viewing. Im sure other mems share my fascination so feel free to post what you feel about Friday Smacks and their role in your life and whether you feel this week will be a SmackUp or SmackDown.
Click to expand...
Click to expand...
It's a bit like a saw tooth wave. Prices are lower on Monday and build up to Friday. People sell off to take the week's profit and that selling results in a smackdown of the price at the close of the week in the US. Monday kicks off again in Australia, and the cycle repeats. I've been watching this for the last six years and believe this to be about 75% consistent. Had we all sold down on Easter Thursday, 2011, we'd all be rich.
 
sammysilver said:
Had we all sold down on Easter Thursday, 2011, we'd all be rich.
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At less than double the current price, or less than two and a half times the lowest point since then, I'd hardly call that getting rich.
 
Things seem cherry ripe for a Friday Smack.

Heaps of goings on in the Markets but not so much movement in PMs.
 
Also January nonfarm payrolls are out tonight which is a fair indicator of how US employment is going after the seasonal Christmas period. It also has a history of disappointing. 9 out of the last 10 years it has missed expectations. It is also my biggest forex trade for the month so hopefully it'll be a big miss or a big beat. I need my money for nothing fix
 
Caput Lupinum said:
Also January nonfarm payrolls are out tonight which is a fair indicator of how US employment is going after the seasonal Christmas period. It also has a history of disappointing. 9 out of the last 10 years it has missed expectations. It is also my biggest forex trade for the month so hopefully it'll be a big miss or a big beat. I need my money for nothing fix
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What time do the payroll numbers come out? And what are you planning to sell the usd against? The aussie?
 
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