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 Replies: 5,649 / Views: 461,208 |
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Pillar of the Community
 United States
3789 Posts |
Well well well lol.
Same close as always,,, break the yearly low then bounce. lol.
Very tricky price action even for a short seller? Why? because short sellers will have to endure violent viccious counter trend moves in this downtrend.
Why is the 52 week low key here? 52 week lows are a normal point for a heavy move of selling and downward pressure. However, instead of seeing more follow through or continued down days from the 52 lows, we are finding both metals tend to bounce.
There could be many reasons for this, one being that silver and gold are coming into areas of previous price support. Also, the selling pressure can be dictated by where it happens. Lately we have seen plenty of yearly lows and just this continued grind lower with bounces each time. This sort of action will wear out sellers.
Think about how tricky this market has been for both sides.
The yearly low was 13.91 set on 8/26/15. An very good place to sell silver short, one that gives confirmation and would be proper would be selling the yearly low when it hit 13.90 which then would open up more downward pressure. The first spot to sell in this manner was on 11/23 when silver hit 13.85 and bounced. It wasnt until 12/3 that silver again hit a yearly low, 13.81 and AGAIN bounced. Do you see the pattern?
Now fast forward. Here we are on 12/11 and silver again breaks, this time breaking 13.81 and hitting 13.75 before heading north once again. In the meantime, if you were selling short, you would have to endure face ripping counter trend moves.
So its been a really garbage time period for both those buying and selling. The buyers cant get any traction and where they buy from, in due time it goes lower on them. The sellers, they sell it but it runs higher back up in their face.
Those with shorter time frames are having a bit better success but their financial gains but they are not very large because you do not amass big gains by basically scraping for nickels and dimes.
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Pillar of the Community
United States
7390 Posts |
It's gotta be defective Flubber yup, pm's must be coated in the stuff  |
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Pillar of the Community
United States
1804 Posts |
Gold, Silver and Energy in the TUBEs. The BEAR trend is your friend?  Until the BULL gores ya   |
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Pillar of the Community
United States
3843 Posts |
Silver at $13.69. I've been sticking to numismatic purchases as of late. The trends in precious metals certainly are not confidence inspiring.
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Pillar of the Community
United States
3349 Posts |
I'm stacking...silver halves at $5.50, half eagles at $307, sovereigns under $270...
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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Pillar of the Community
United States
3789 Posts |
what no bounce from the yearly lows? *gasp* lol
Fresh yearly lows once again for silver... is 13.50 next on tap?
Is gold next and ready to hit its yearly lows?
Just a steady grind lower... I feel bad for anyone whos been buying rolls of silver even at 15.....
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Pillar of the Community
United States
964 Posts |
Quote:
Just a steady grind lower... I feel bad for anyone whos been buying rolls of silver even at 15..... Why? You don't think silver will be at $50/ounce someday in the next 2-5 years?  Edited by Mr Click
12/15/2015 10:45 am
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Pillar of the Community
United States
5856 Posts |
It depends on the volume if you bought silver at $15? I am not crying over spill milk for a couple of ounces, but if I had purchase a monster box or two... Maybe!
Edited by macmercury
12/16/2015 02:55 am
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Pillar of the Community
United States
7390 Posts |
That's why I buy semi-numi when I find a deal like presales. All you really lose with even a few dollar drop is some already built in premium equity. Sure you're paying more up front then generic but unless there's a total crash your principal remains untouched. That's why the cheapest generic or generic at all has never buttered my biscuit
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Pillar of the Community
United States
1804 Posts |
Quote:
That's why I buy semi-numi when I find a deal like presales. All you really lose with even a few dollar drop is some already built in premium equity. Sure you're paying more up front then generic but unless there's a total crash your principal remains untouched. That's why the cheapest generic or generic at all has never buttered my biscuit For my feeble grey matter, PMs are a hard to be too sure about the future value.  But the same is TRUE for NUMIS values. And when one adds BOTH commodities together,  .... Well you get the drift. |
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Pillar of the Community
United States
7390 Posts |
Ok, here we go again. Silver is up .33c... Flubber I tell you, pm's are coated in it! It's all a gamble domain. Until crystal balls are invented or humans evelve to the point of Minority Report pre-cogs that is lol Hey, did anyone use miss cleo in the 90s for pm advise? Edited by Cascade
12/16/2015 08:46 am
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Pillar of the Community
United States
3789 Posts |
@MrClick
I feel bad because most everyone has been conditioned to think something on sale is a bargain, we all want deals and lower prices but when it comes to financials assets such as equities, bonds or commodities, often when they are in downtrends they are not a bargain or a deal.
The vast majority feel buying on the way down is a great deal. It clearly isn't with silver and gold because everyone who has bought these dips is sitting under water. PEople thought 30 was great. Then 25. At 20 everyone got excited. 15 showed up and hey, what a great deal.
So even if you decided to buy at 15, you will are underwater.
Now, I cannot predict the future, I have no crystal ball. Could silver go back to 50 an ounce? That is not for me to say or decide, I will leave that up to the market.
I will say tho that going back to those higher levels is going to take time and a lot of buying. Before tho we can talk about higher prices first silver must break the downtrend. However, even after the downtrend is done, doesn't necessarily mean that immediately silver goes back up.
One scenario that is also possible is silver finding a floor in time and then just chopping in a range for a period of time, doing absolutely nothing. This could go on for a while and I have seen this pattern many times.
So the bottom line is we dont know what happens in the future with silver or gold. However, there is no good reason to be buying a declining asset, throwing good money at something that is falling and is not showing any signs of going higher and really at the end of the day, the risk right now remains with the buyers of silver, even at these levels.
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Pillar of the Community
United States
7390 Posts |
Yup, I buy pucks at $90 and sell at $120. I buy pirates and sirens for $37 and sell for $50. I don't care what spot does really because it barely effects my returns at all with these items and others like them when they come up. Now with junk and generic I fully.agree with you  |
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Pillar of the Community
United States
1804 Posts |
YUP7676 Your words are perfect for all to see. Thanks YUPer
Quote:
I feel bad because most everyone has been conditioned to think something on sale is a bargain, we all want deals and lower prices but when it comes to financials assets such as equities, bonds or commodities, often when they are in downtrends they are not a bargain or a deal.  Quote:
The vast majority feel buying on the way down is a great deal. It clearly isn't with silver and gold because everyone who has bought these dips is sitting under water. PEople thought 30 was great. Then 25. At 20 everyone got excited. 15 showed up and hey, what a great deal. Quote:
So even if you decided to buy at 15, you will are underwater.
Now, I cannot predict the future, I have no crystal ball. Could silver go back to 50 an ounce? That is not for me to say or decide, I will leave that up to the market. Quote:
I will say tho that going back to those higher levels is going to take time and a lot of buying. Before tho we can talk about higher prices first silver must break the downtrend. However, even after the downtrend is done, doesn't necessarily mean that immediately silver goes back up. Quote:
One scenario that is also possible is silver finding a floor in time and then just chopping in a range for a period of time, doing absolutely nothing. This could go on for a while and I have seen this pattern many times. Quote:
So the bottom line is we dont know what happens in the future with silver or gold. However, there is no good reason to be buying a declining asset, throwing good money at something that is falling and is not showing any signs of going higher and really at the end of the day, the risk right now remains with the buyers of silver, even at these levels. EGO FEAR GREED and HOPE The poor PM buyers and HOLDERS are in the vise grip of the KILLER emotion of HOPE |
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Pillar of the Community
United States
648 Posts |
I love the "dramatic technicals" - I get it. But I stack because it's fun...look out below! lol.
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Replies: 5,649 / Views: 461,208 |
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Posted 12/11/2015 5:51 pm
