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Replies: 3,457 / Views: 121,803 |
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Pillar of the Community
United States
1382 Posts |
Quote: Posting for posterity. Some day, perhaps, someone will revisit this topic from page one just to take the ride. Well just some constructive advice then, if that be the case I think it would be better, more informative, educational, entertaining or whatever, to the "future readers" to include an explanation or backstory, or anything else for the price changes or movements instead of just repeating over and over Quote:Low $55.65  And Quote:High $57.40.  That's all I mean anyone literally anyone, can look at a price chart and see where Silver was on February 9th, 1980 or 2011 but what was happening in the market that day? What happening overnight?. What news came out before the market opened that day that plunged silver to "Low $55.60"? Was war breaking out? Was inflation high? Did Oil spike? Did Dollar spike? What happened? And I think investopedia or Google could help with High and Low when it comes to commodities like Silver or even Stocks. There's 3 that I use. 1) Pivot Low 2) Swing Low 3) Day's Low or intraday or LOD low of day. I mean this is helpful if you really want to find out "Is Silver Going To $50" or not right? These are also interchangeable with Highs, like HOD, Pivot High, Swing High. So you use both of these in combination to determine where your ranges are, this is more as a trader. But it also would have helped you see that you're not staying above $60 okay. This determines where the Buy and Sell areas are. And you don't set them or announce them every time it moves higher or lower, unless it's a "new" NLOD or NHOD there's a pattern to identifying them on the chart. And if used properly they can be extremely useful otherwise they're meaningless and confusing. Anyway hope this helps you with your Silver price analysis so future readers know what was going on.
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Pillar of the Community
United States
1382 Posts |
That's understandable barryg because I do write an awful lot so it's already TLDR. And then some of it gets chopped up and snipped out and re-quoted with only the positive highlights and added emojis. So it falls through the cracks even more. Sometimes I don't want to break people's hearts with the ugly truth and just say hey man it's going down next week okay just deal with it for a little while or something. And some of it is lost in the innuendos and hints that I hope people get but they don't always do. There's been plenty but here's a few snips. On October 5th I wrote Quote: Sorry but Silver should be below $55 right now. But it's not for some reason(s). You'll have to read this to the end.
On Oct 7th Jbuck responded Quote: I believe the night crew believes what you believe. Back into the ~$59 zone, knocking on the door to ~$58. On Oct 8th I posted what I thought about an old man coin dealer had said silver should be between $40 and $50 Quote: Well the market appears to be saying it should be closer to $55-$60 right now There's plenty to read in between, before and after these posts. What you won't see are my fancy multi colored charts with arrows and indicators because then nobody will pay attention. So I think the other half of you're post is what's going to happen next. And I'll answer that in a separate post because otherwise this one will be 3 pages long and I'll be  until I'm unconscious. But here's a hint. The answer to the question of what happens next requires putting in the same time and the same work it took to know that Silver was going to between $55 and $60 this week.. Research, charting, looking at all the economics behind, Dollar, Gold, Treasuries, equities, etc. and how they behave in relation to Silver or how Silver moves in reaction to them. You want the edge? You want the answer? This is how you get. The problem with people is they want the easy answer, they rarely know what's required to get it. There's an expression we used to say in my industry "if it was easy anyone could do it"... But stay tuned, I'll set the stage for you, one piece at a time hopefully it doesn't fall through the cracks this time.
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Pillar of the Community
United States
1382 Posts |
Just to add on... A month ago after the first interest rate hike and Silver did the weird herky jerky thing I posted on here that "alot of things don't make sense right now" and that I wouldn't be trading anything and I mean anything until after elections. Sitting on hands. I closed all my positions except a long term one I plan to hold indefinitely.
A couple of weeks ago I also wrote that I am not trading anything right now because I believe in "keeping my head firmly attached to my body".
And that "in the current market you have to be both lucky and smart to not get turned into hamburger meat".
If none of those are premonitions then I don't know what in tar nation is. Unfortunately we live in a society that has absolutely no clue about any of the markets or how they work and even less of a clue what is going on underneath the surface of the market right now. They see market go up, market go down, cool.
I blame the education system that for a hundred years they've been training people to be obedient button pushers and factory worker's not thinker's that can balance a check book.
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Pillar of the Community
United States
1382 Posts |
I feel like the flex seal guy, "but wait there's more".. one other thing you'll note that I haven't said is back up the truck and buy, buy, buy. Yeah, yesterday for sure was a buying opportunity, finally. But before that take note that for a few weeks before the dump I ended a half dozen posts with "Keep Stacking, Don't Sell". Why would I emphasize and keep reminding people not to sell? Because I knew what was coming and that people panic and sell. And this isn't over yet, the next crash you sell into you might not be able to afford to buy it back. And "keep Stacking"?, sure, that's a long term strategy, buy an ounce a week or a month continuously forever, in 5 or 10 year's it doesn't matter.
And barryg sorry if I get a little peeved at the question "where's Silver going next" just a mere 24 hours after Silver did what for a month many people have been fearing and talking about it might do, including me, right here in numerous posts, for the past few weeks, with examples of why. Do you think the Market has decided yet where Silver is going next, 24 hours after the Dump?
This is why we deserve what's coming. It's like the Joker said in Batman "What this town needs is an enema".. And by that I mean a crash, a reset, something that will finally wake everyone up. Even if it brings Silver down to $20 which it might. But It's way overdue.
Edited by Harry213 Yesterday 5:00 pm
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Pillar of the Community
United States
1382 Posts |
Oh but in case you just wanted to know if it was going to $50 right now then No. (Outside of some crazy news event happening) Yesterday was a big move and today was a reversal, usually these take a few day's to consolidate afterwards. Meaning sideways chop until it finds good Buy Sell zones
Edited by Harry213 Yesterday 5:53 pm
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Pillar of the Community
United States
6931 Posts |
Quote: I blame the education system that for a hundred years they've been training people to be obedient button pushers and factory worker's not thinker's that can balance a check book. The education system is meant to prepare people to function in society and to find useful employment. Up until Y2K, the vast majority of people did not need to understand anything about the stock market, commodities markets, banking, world events, or how those things interact. That's a great thing, because most people aren't equipped to understand that stuff. It is a bizarre and recent phenomenon that so many unprepared people have been forced into direct micro-fractional ownership of megacorporations in their 401(k) or IRA accounts. They don't understand how bonds, commodities, ETFs, mutual funds, and REITs function, either. In the good old days, the pension system took care of that for them with expert professionals. I don't think it's odd that people want simplified explanations of the correct action to take in a particular situation where they are not an expert. We do that constantly with doctors, car mechanics, software engineers, and a host of other expert professions. We can't all be experts at everything, even the smart folks. I'm sure it's like nails on a chalkboard when you hear muggles talk about silver trading after watching CNBC. It's probably nails on a chalkboard for doctors overhearing people talking about the magical properties of obscure supplements pitched on YouTube, or actual computer engineers listening to muggles discuss AI and quantum computing. We can't get hung up on those misconceptions, otherwise we will end up with an ulcer, and the muggles will march happily on without ever knowing the difference. fwiw, I agree with your thought that this is a murky and unpredictable market for trading anything. The stock market is tipping over lopsided with a bubble in some sectors. The Fed can't decide if it wants to fight inflation or keep the stock market white hot. My gut feel is that we are slinking towards an early 2000s tech bubble meltdown with spillover. Sort of a surreal game of musical chairs, but with a weird complication that private equity firms have tied many chairs together with string in a way that the markets and regulators can't really see.
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Pillar of the Community
United States
1382 Posts |
Brandmeister.... that was probably one of, if not the most well written and insightful things I've read on here... Ever.. I couldn't have put it better myself if I tried to. A breath of fresh air.. As if someone opened a window.. Reading that prevented me from going on yet another rant or three this morning. Thank You 
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Replies: 3,457 / Views: 121,803 |
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