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 Replies: 5,649 / Views: 461,127 |
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Pillar of the Community
United States
7390 Posts |
Yup, today's looking like the third day where silver is outperforming gold. What do you think is going on? Are buyers stepping in moving on silver more than gold?
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New Member
United States
3 Posts |
Beware myopia. I always take the long on any investment, and precious metals in particular should be a hedge against the market rather than an end in itself. Study historic charts and find a price where you're comfortable to buy in, and buy. Keep it in the safe for ten or twenty or forty years and use it as fallback security during retirement. Or give the grandkids JM bars for xmas if you'd done yourself proper and made sound investments the preceding 30 years.
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Pillar of the Community
 United States
3789 Posts |
@cascade
I think,, seeing follow through from yesterday is good in terms of price action.
However, I think we are again at some cross roads and I dont think this is going to be an easy ride up, as I have been saying.
I mean right now, as I type this, gold has erased its earlier gains and the market is moving higher.
I really am too busy to say much right now but as I type this it feels like gold is ready to roll over lol I know sounds crazy right?
anyways when things settle down Ill post more thoughts on your question.
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Pillar of the Community
United States
3789 Posts |
just another note here-
take a look at our proxy GOLD. It had a downgrade, right as it hit 52 highs. We got a lull.
Take notice tho, this is another trading observation that will bank you coin: the DG came in and knocked GOLD, right at 52 highs. The markets pushed higher. GOLD in the mean time pulled back and chopped around.
What happened today? Fresh 52 highs, the stock moved higher from its last 52 highs AND put the downgrade behind it.
What does this tell us-
1- Gold remains in an uptrend, despite pull backs.
2- the buyers are in FIRM control in the gold mining stocks
3- A point I repeat a ton- yearly highs result in yearly highs, it just doesn't happen and then all of a sudden stop.
BTW, in case you are wondering and if you missed the downtrend gold has for what almost 4+ years, yearly lows work in the exact same manner.
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Pillar of the Community
United States
3789 Posts |
update-
remember I said gold would roll over? Its showing its weakness.
It is sill early but I think we get yet another pull back again from the highs. This is the pattern for now. Making yearly highs and pull in, a lull and then yearly highs.
@Cascade
Silver continues to lag. I wouldnt be interested in silver until it breaks 16. Until then, its a very weak metal that isn't really going anywhere for now. When gold goes down, silver will go down even harder since its lagging and not leading like gold.
IF the buyers were REALLY buying silver, as in getting in control, it would have broken out in these past two days. However, seeing it it remains again, below the b/o point of 16, it really isn't seeing that type of buying that says the buyers are now in control.
IT has come close.. but not yet there.
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Pillar of the Community
United States
7390 Posts |
What I'm talking about yup is the standard has been say gold is up $20, silver would be up roughly $.20c but the last few days it's been doubled... with gold being up $20 as the example silver has been up $.40c. Just wondering why, I know you don't deal in whys but I'm curious about the gap closing albeit on a small scale.
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Pillar of the Community
United States
3789 Posts |
@cascade
If I am understanding you right here, you are referring to the price, like a ratio between gold and silver.
The only thing I see is just, like gold, a set of higher highs and higher lows after two days here. Why there is a spread in price, I dont really think it means much.
I probably didnt answer your question did I lol. Honestly I dont even pay attention to stuff things like that as they dont really give me much work off.
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Pillar of the Community
United States
7390 Posts |
Figured you say that  But yeah. The ratio has been slightly closing the gap the last three or for days. I thought it strange on Tuesday or Wednesday when it started now it's starting to become a pattern |
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Pillar of the Community
United States
3789 Posts |
@Cascade
Meh, nothing of that really matters, not be mean or anything, it just doesn't.
One of the problems with trying to follow like a ratio is that, as you have seen me say many times, correlations drop, come and go. Its a constant revolving door and thats because markets are dynamic, they are always changing, 24/7 and are processing whats happening in the future.
hence why our really true guide is the price action. Price is saying gold is where the money is at right now and silver is playing second fiddle.
How you like that overhead resistance today, as I have been mentioning, overhead supply, in terms of price, are going to allow gold too get knocked down. The important thing to remember is that so long as these yearly highs keep racking up, eventually we'll see gold run straight through them.
The more an area in price is probed, the higher likelihood it gives way.
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Pillar of the Community
United States
3789 Posts |
BTW Cascade, thanks for the compliments. Glad to see what I am saying and repeating makes sense and folks are able to take advantage of how price works in markets.
I cant take any credit for the wisdom, I can share it tho. It is what I was taught and been passed on to me. For over a hundred years traders have followed these exact same simple rules. I would be remiss if I did not share what I know and has both made me profits and put money in the bank AND at the same time kept me from losing my shirt or staying wrong and limited my risk.
They have been published many times over the years and some of these books are mandatory reading for all traders at many worldwide trading firms, books that go back to the late 1800s.
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Pillar of the Community
United States
606 Posts |
Buying when spot was around $14.50 might have been better than waiting. I guess time will tell.
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Pillar of the Community
United States
3349 Posts |
Amen @noble. My dad had about 0.3% of his portfolio in coins (modern US proofs) and the only part of it worth anything was the gold. I took a hint from that: go long and keep the exposure low. It was a nice little chunk of change for my mom but only a footnote to the estate's core value, which was equities and real estate. I think that he forgot he even owned metals...we found the proof sets mixed up with his rock collection.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
03/04/2016 8:15 pm
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Pillar of the Community
United States
3789 Posts |
@MontanaCMR
Well, silver might be lagging for a while or it could eventually catch up. I have seen this sort of thing in the past.
I know you like to get it when its going lower or lower... which I mean at the end of the day, everyone has to do what they think is best. I personally again, prefer to buy on the way up, leg in that way, have a number that I am looking for and then stop, of course I dont buy on the way up for physical coins for trading, but I was buying for collecting purposes gold and silver coins as prices rose, such as when I was doing full sets of silver and gold world bullion, I would buy one of each, despite prices rising.
I did that until prices tanked and started skidding, I started to dramatically cut down slowly but surely to where it almost came to a grinding halt here. Tho now I am ready to start up again, starting with my favorite somalian elephants which I am super happy about lol
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Pillar of the Community
United States
7390 Posts |
Ya know yup. That old saying "There's an elephant in the room" takes on a whole new meaning with you  |
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Pillar of the Community
United States
3789 Posts |
@Cascade
HA! I like that lol
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Replies: 5,649 / Views: 461,127 |
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Posted 03/04/2016 10:25 am
