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 Replies: 5,649 / Views: 461,257 |
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Rest in Peace
United States
17900 Posts |
If we rounded up all the fake US coinage China has shipped to us we could send it all back to them to pay our debt! |
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Pillar of the Community
United States
1804 Posts |
My July 15 post Quote:
Pure guess.
September 5,000 oz. Silver Futures will "trade" with a $13 *handle* before it trades with a $16 *handle.*
Trade at your own risk. 5000 oz COMEX (SEPT?) did trade at $13.91 |
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Pillar of the Community
 United States
3789 Posts |
@domain555
yup! and look at that,, while markets are in panic, silver makes a move to fresh 52 lows....
Lower we go.
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Pillar of the Community
United States
669 Posts |
I think even PMs are going down because people are just simply trying to liquidate (and pay off some bad investments) rather than guard against inflation/end of the world, etc. The strength of the dollar isn't motivating PM to go up.
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Pillar of the Community
United States
7390 Posts |
Yup, what are your thoughts on mining stocks?
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Pillar of the Community
United States
3789 Posts |
@Cascade
From a purely technical standpoint in terms of price, they look and continue to trade like death.
Almost all of them are at 52 lows which implies financial institutions are continued sellers of these stocks and are not buying them.
I would imagine at this rate, we will see miners either file for bankruptcy, merge or consolidate or perhaps shift away from gold and silver.
So right now, there is just no reason to buy gold mining stocks. I would stay away from them until they stop going down.
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Pillar of the Community
United States
3789 Posts |
BTW,,, mrpapageorgio's comment reminded me of something-
remember how everyone always says "strong dollar, gold down" or "weak Dollar, gold up"?
I have always said and maintained that correlations COME and GO. Right now this is perfect example- The dollar is weak and yet PM's cannot get ANY traction.
Which again I want to make the observation- world markets implode and what do silver and gold do? NADA. In fact, silver finally broke down today and made fresh 52 lows, which implies even lower prices will be coming. Why on earth put your money into an asset that clearly is not favored and does nothing at all, its not even a safe haven!
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Valued Member
Australia
491 Posts |
In the Aussie $ silver is at $20.40 approx. The lowest was around the 4th Aug just touching AU$20. As the silver price has been falling so has the Aussie $. A kilo Kookaburra is still AU$726. |
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Pillar of the Community
United States
3789 Posts |
Been on a bit of trading hiatus, a vacation here, especially until the volatility of the markets goes away so I am not doing much, not really looking closing at many things, taking a big and well deserved break and its nice to do nothing at all while the market goes wild. Big gains have been made and its sitting nicely in the bank, now I relax.
So I apologize for the lack of charts for right now, its temporary as I recharge. However I did want to say a few things on the recent price action-
1- silver has proven it wants lower and the downtrend is firmly in place.
2- gold and silver are no longer the safe havens they once were.. the price action is again telling a story of huge weakness in the price of silver and gold ahead.
3- Be careful thinking they cant go lower. A strong powerful trend can go longer than anyone thinks possible and thats a fact the vast majority of people, even traders, have a hard time accepting and understanding. This is not the environment to be buying, backing up the truck nor averaging down.
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Pillar of the Community
United States
1804 Posts |
So very good advice YUP7676 Quote:
3- Be careful thinking they cant go lower. A strong powerful trend can go longer than anyone thinks possible and thats a fact the vast majority of people, even traders, have a hard time accepting and understanding. This is not the environment to be buying, backing up the truck nor averaging down. HISTORY About 35 years ago AG was trading BRIEFLY at a $50 handle. After a long while trader as low as with a $3 HANDLE |
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Pillar of the Community
United States
1804 Posts |
Regarding, What ever correlation between PMs and equities there is or is not ~`~`~`
MINI DOW price action has JUST does a NEAR EXACT (.618) FIBONACCI RE-TRACEMENT and the early morning news is showing a one percent drop. OH MY
Would prefer using the large DOW numbers, buy do not have those charts
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Pillar of the Community
Canada
2019 Posts |
Ok so what if silver drops to $3 an oz...would you back up the truck or lose interest since its now a low value common metal?
Would there be an over abundance of silver bullion such as we have with copper bullion atm?
I cant see it ever dropping that low again but what if?
Personally I will be buying all the way down I have no doubt, I like the shinny!
Edited by Northerncoins
08/31/2015 06:46 am
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Pillar of the Community
United States
1804 Posts |
Quote:
Ok so what if silver drops to $3 an oz...would you back up the truck or lose interest since its now a low value common metal? I personally will by MORGANs at a price that my technical info dictates.
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I cant see it ever dropping that low again but what if? Wishing-hoping it drops to rediculous lows
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Personally I will be buying all the way down I have no doubt, I like the shinny! When I DO buy in, I will not average down. |
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Pillar of the Community
Canada
2019 Posts |
Quote:
When I DO buy in, I will not average down.
So if and when you do buy in and it keeps dropping, what do you call it? A loss I guess lol, I don't average down, I just buy because I like the "shinny" and have a large hole I want to fill in my "storage" area .  |
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Pillar of the Community
United States
1804 Posts |
Quote:
So if and when you do buy in and it keeps dropping, what do you call it? A loss I guess lol, I don't average down, I just buy because I like the "shinny" and have a large hole I want to fill in my "storage" area . It is a calculated guess pulling the trigger. After you own it, it is not a LOSS, if you just sit on it. Shinny is good. Personally I like MORGANs |
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Replies: 5,649 / Views: 461,257 |
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Posted 08/26/2015 12:50 pm
