Silver Charting and Silver TA Chat

thatguy said:
Silver has retraced 23.6% of the fall and gold 38.2% meaning the GSR has gone up. Until the GSR goes down substantially (under 54) I will continue to short... this year at least
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Nope...my poor brain has not yet figured this on out.
How does GSR determine the general direction of the metals?
 
SS said:
thatguy said:
Silver has retraced 23.6% of the fall and gold 38.2% meaning the GSR has gone up. Until the GSR goes down substantially (under 54) I will continue to short... this year at least
Click to expand...

Nope...my poor brain has not yet figured this on out.
How does GSR determine the general direction of the metals?
Click to expand...
In a PM bull market silver rushes ahead charging down the guns like polish cavalry of ww2. In a bear market silver gallops over the cliff like a crazy rabid horse
 
thatguy said:
In aPM bull market silver rushes ahead charging down the guns like polish cavalry of ww2. In a bear market silver gallops over the cliff like a crazy rabid horse
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LOL...gotcha. Thank you again.:)
 
SS said:
Better watch this line.
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:) sure am
1021_weekly_trend_line.png

A brief spike under should not be unexpected but a low ~28.90ish is where I am aiming
 
RM,

Not liking the way it is coming down for a bounce at $28ish. I had that pencilled in for a trade a little lower than That Guy's level, but now I think we will see a test of the $26 ish floor. Thought we'd get down here again but a bit shocked it's quite this fast. Depends on US which isn't open yet. But if it crashes down into it, personally I think it will go lower in the coming days.

Feeling like a genius at the moment. Sold 1350 ounces within pennies of the top on the cliff surge so I need to check myself and go back to patience mode :)
 
Thank you ^_^

I always seem to have a tendency to wait for weekend closes before buying anyway. So might leave it another week if US market doesn't do much to price.
 
I don't agree that it will fall much further. I remember a few weeks ago one analyst mention that if PM fell suddenly for no reason in early 2013 (which he expected) he would not expect it to last long. I am seeing inventory dry up. This take down had no legs only rumours. Do you think for 1 second they will stop QE to infinity in 2014. Total BS. They cannot cut 1$ in spending never mind 1.5T$ / year.
 
Look at the all the local dealers on line and quite a few products are no longer available.
 
If the metals are drying up, then I am going ahead and say that this will the bottom. Fingers cross. I know...not very techincal
 
Ronnie 666 said:
Do you think for 1 second they will stop QE to infinity in 2014. Total BS. They cannot cut 1$ in spending never mind 1.5T$ / year.
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The fact that they mention this is good, as it is only more fuel for us when QE does not stop. :)
 
Should be interesting next week. Reversal in US Friday stopped what was looking like a blood bath (at least for now). Weekend close as it did leaves me to believe that the $28's are more likely for a good bounce as TG was pertaining too. However, I still think there will be more downside later year.

Actually I've got a level for gold I'm happier with to trade off. Spectacular swing on Friday Silver.
 
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