Was that the start of a new bull market?

chowdersilver said:
mmissinglink said:
No, just the start of a Bull Trap perhaps.




.
Click to expand...


What do you base this on? I have enjoyed reading your cautious posts, but wonder the rationale on this particular trap.

I don't know, but think there was a big overreaction to the Swiss vote. Others felt the same and didn't see silver prices going down today. I don't know if any thought, however, it would go up this much today.
Click to expand...

Not ML, but I will take shot at answering your question. Bear markets have 3 phases, I cannot fathom the third phase (capitulation) of a 3-4 year bear market only lasting a few hours. For US traders, the markets weren't even open during the drop to $14.40. My opinion has been that we are in a 2-3 month bounce from the Oct-early November drop. However, I did not expect the price action of the last 2-3 trading days.
 
chowdersilver said:
wwolfe said:
Very nice silver pop up today. I bought yesterday and am already up $1.50 per ounce today!
Click to expand...

This is the part I don't like about physical silver as compared to other investments. I picked up some yesterday and even though spot might be up $1.50, I am still down by the time I pay the premium to buy and don't enjoy much of a premium to sell.

Yea, on one of the best bounces I know of, I am still down from yesterday. :lol: :) :| :( :mad:
Click to expand...

That's only true if you sell for spot, in many cases you'll get that premium back. If 10oz bars were $200 yesterday when the spot was $18.50 you will get $210 when the spot is $19.50, sometimes a little more. The premium is only lost if you sell your stack for scrap.
 
To-The-Moon-2.png


Thats where we are going hold on tight
 
phrenzy said:
chowdersilver said:
wwolfe said:
Very nice silver pop up today. I bought yesterday and am already up $1.50 per ounce today!
Click to expand...

This is the part I don't like about physical silver as compared to other investments. I picked up some yesterday and even though spot might be up $1.50, I am still down by the time I pay the premium to buy and don't enjoy much of a premium to sell.

Yea, on one of the best bounces I know of, I am still down from yesterday. :lol: :) :| :( :mad:
Click to expand...

That's only true if you sell for spot, in many cases you'll get that premium back. If 10oz bars were $200 yesterday when the spot was $18.50 you will get $210 when the spot is $19.50, sometimes a little more. The premium is only lost if you sell your stack for scrap.
Click to expand...

My LCS only pays spot plus twenty-five cents per ounce. I noticed most only dealers are not any better.
 
chowdersilver said:
phrenzy said:
chowdersilver said:
This is the part I don't like about physical silver as compared to other investments. I picked up some yesterday and even though spot might be up $1.50, I am still down by the time I pay the premium to buy and don't enjoy much of a premium to sell.

Yea, on one of the best bounces I know of, I am still down from yesterday. :lol: :) :| :( :mad:
Click to expand...

That's only true if you sell for spot, in many cases you'll get that premium back. If 10oz bars were $200 yesterday when the spot was $18.50 you will get $210 when the spot is $19.50, sometimes a little more. The premium is only lost if you sell your stack for scrap.
Click to expand...

My LCS only pays spot plus twenty-five cents per ounce. I noticed most only dealers are not any better.
Click to expand...

If you sold PM bars here for spot plus $0.50 I'm sure you'd have plenty of takers, probably plenty at spot plus 0.85 and your getting closer to the price you paid.
 
According to my tea leaves, silver just went back to it's last decent resistance level. Not sure what all the hubbub is about



Look at all the pretty colours. It's like a Christmas tree.
 
When CJ turns up...

sideways sideways sideways DUURP sideways sideways sideways DUUURP

Q4PQ8cu.gif
 
Caput Lupinum said:
According to my tea leaves, silver just went back to it's last decent resistance level.
Click to expand...

Don't tell anyone, but there's still gap that needs to be filled at the $4.07 USD point, which occurred back in November of 2001.


Sshhh.. It'll be our little secret.. ;)
 
Caput Lupinum said:
According to my tea leaves, silver just went back to it's last decent resistance level.Not sure what all the hubbub is about
Click to expand...

Silver had the biggest reversal over two days that I can remember. That's a positive event surely?

1893_silver_3_mth_dly.png
 
finicky said:
Caput Lupinum said:
According to my tea leaves, silver just went back to it's last decent resistance level.Not sure what all the hubbub is about
Click to expand...

Silver had the biggest reversal over two days that I can remember. That's a positive event surely?

http://forums.silverstackers.com/uploads/1893_silver_3_mth_dly.png
Click to expand...

Quiet finicky, you know you're not allowed to use the P word around here. :P

Any idea of the last single days trading with this much volume? Day chart I look at only goes back to Aug 24th and its 1/3 higher than any single day and more than triple of any Monday in that period.
 
finicky said:
Silver had the biggest reversal over two days that I can remember. That's a positive event surely?
Click to expand...

I like $17.50 and $18.00 for a reversal in trend. Until then, I'm abusing the ref from the sidelines
 
Eureka Moments said:
.... Any idea of the last single days trading with this much volume?
Click to expand...

I cant remember any two days like it in 13 years, but that's my unaided memory, and it usually needs some aiding.
By "two days" I mean a gut wrenching day down followed by a mammoth virtually engulfing positive candle that had a low much lower than the prior low. The low was more than a dollar lower yet the day ended massively positive.
The single candle alone last night was exceptional and can't have been many like it
 
You must log in or register to reply here.
Back
Top