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 Replies: 114 / Views: 16,283 |
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Pillar of the Community
Canada
2019 Posts |
Quote:
Nothing has played out yet northern. We're still in intraday paper swings. Gotta give it a week or two Ya I know lol, its more of a tongue and cheek thing, no one can predict which way its goes, definitely not me , which is why I say , its all guess work when people are claiming its going up or down for this reason or that reason. But hey I got it right at least for the short term...  If anyone truly knew which way it was going to go they wouldn't be on here predicting it lol. I know I would be on a beach somewhere with a drink in my hand raking in the $$$. |
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Pillar of the Community
United States
7390 Posts |
Well call me crazy, I couldn't resist and increased my position a little bit today. I know I'm bucking the shorts but I just have a feeling and the only prescription was more cowbell silver. If it does go down I'll buy more but I felt the need to hedge a little
Edited by Cascade
10/15/2015 12:57 pm
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Pillar of the Community
 United States
586 Posts |
Why can't you wait until tomorrow to take a look at weekly futures report? I believe both gold and silver are approaching an intermediate top; and am waiting for CNBC or other MSM's "Gold Tops 1,200!" headline news; so that I can initiate a short position on GLD.  |
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Pillar of the Community
United States
7390 Posts |
Shorts are fun... but dangerous |
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Pillar of the Community
Canada
2019 Posts |
Ya well you guys can have that foolishness, I will stick stacking real PMs not paper.  |
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Pillar of the Community
United States
932 Posts |
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Pillar of the Community
United States
5832 Posts |
What would happen if gold doesn't go over $1,200 and stays in that position for months again? And traders short it around the same ball park range! Who would benefit and who would get the short end of the stick?
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Pillar of the Community
United States
586 Posts |
@macmercury,
In my weekly GLD chart, the top of downtrend line is just about $1,200. If gold can stay there for months, then downtrend will be broken; which is a very bullish signal. The fact is, many traders who short the gold, have their stop. For example, if gold breaks out above, then traders will cover their shorts and take the loss. This is called short-squeeze; and it is not a good signal for gold; because it will fall back to the downtrend again.
Wall street has a famous saying about this move; "Head fake, then rug pulled". And I believe when the head fake happens, many MSM will amplify the effect.
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Pillar of the Community
United States
586 Posts |
Silver smacked down to 15.65 now
Rejected by the major downtrend channel again; very bearish.
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Pillar of the Community
United States
586 Posts |
Today's silver weekly futures report showed that commercials/Banksters kept increasing short position and reducing long position. The short/long ratio has hit 2.5:1
Smackdown scheduled next week
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Pillar of the Community
United States
586 Posts |
Silver spot was knocked down from 16.3 area to about 15.5; another head fake.
Time to pull the rug? I am expecting to see 14.5 in the following weeks.
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Pillar of the Community
Canada
2019 Posts |
Good guess but ...Nah its going up, thats my guess.
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Pillar of the Community
United States
7390 Posts |
My feel is its gonna drop and stabilize the next few weeks. Then come December it's gonna start jumping up as the fed gave a 90% indication on raising the rate
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Pillar of the Community
United States
1247 Posts |
i buy silver and gold for the long haul.. 20+ years... I am not worried about current trends.
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Pillar of the Community
United States
7390 Posts |
Of coarse not. It's only if you're BUYING right now. You want to buy at the lowest possible price for the best future gain even if holding long.... or if you need to sell. Or if you're a paper pusher. Otherwise all this is all meaningless  |
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Replies: 114 / Views: 16,283 |
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Posted 10/15/2015 12:56 pm
