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 Replies: 5,643 / Views: 459,665 |
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Pillar of the Community
United States
5838 Posts |
There might be fear of another market drop, so perhaps people are pulling it out sooner?
This maybe a long hold out for myself also! Hopefully not too long...
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Pillar of the Community
 United States
3789 Posts |
gurgle gurgle,, down goes Silver.. so again lets keep it simple-
multi-month, silver looks like death. The selling is picking up steam and even tho its been down many days, there is nothing to say it wont keep selling off. Already the key area of 16.83 has been broken with authority. Basically, all that separates silver from a downtrend at this point is less than 1 pt.
If 15.68 gets broken, the uptrend is done and over with and silver enters a downtrend again. So keep that number in front of you. After that gets hit, theres no telling how much lower silver goes and for how long, but before we can talk about that, 15.68 needs to be broken first.
Gold still looks better but if it doest hold around here, in the 1240s, expect lower prices, as it sits right now in the lower end of the range. Lets keep this simple- lets see if gold gets down to those March 13th lows of 1194.50. See how price reacts, whether it bounces or not.
Really not much to say, either these areas hold or not. We have been here before tho, watching then nose dive lower and then pulling back and getting a stick save. Will it happen again? We dont know, best we can do is just be patient and watch price.
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Pillar of the Community
United States
1804 Posts |
Only my opinion
AG is going South like a freight train with no air brakes.
Hope I am right. Would like to buy Morgans and-or Peace at a better price.
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Pillar of the Community
United States
606 Posts |
"I have no race in this horse..."
Brilliant quote, Yup.
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Pillar of the Community
United States
1205 Posts |
Merrill Lynch has adjusted its investment portfolio: 50% cash and 50% canned goods.
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Pillar of the Community
United States
3789 Posts |
As expected, silver continues to bleed out lol. Gold now has joined silver in being a bleeder also lol This was expected.
Wait and watch to see if in the coming days, weeks, if gold and silver officially give up their uptrends.
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Pillar of the Community
United States
3789 Posts |
still early to tell but metals getting a bounce here.
For now, keep those numbers we discussed last week for reference.
let things play out.
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Pillar of the Community
United States
1450 Posts |
You know a lot of times people don't want to sell stocks because they have big gains and they don't want to pay the tax. This is crazy because maybe you pay 15% in tax but you get your profits. If you wait too long you lose your profits. If you have time I don't think many things beat dollar/cost averaging via an index fund for the truly long term small investor. You are forced to buy more stock when prices are low than when they are high.
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Pillar of the Community
United States
3789 Posts |
gold and silver continue to bounce. going to take a lot more of this to get it going so we will see.
What is interesting tho is that many gold miner charts are really look good despite the selling in gold.
some select names that price action looks very conscrtuvie are:
GOLD
RGLD
FNV
AEM
Is the market saying it feels comfortable with the gold miners and the price of gold going forward? Or is the market positioning ahead of gold rising, doing it via the gold miners? Often, there is a correlation where before higher prices are achieved in gold, gold miners start moving in advance. Or is the market saying these miners are a bargain here?
Who knows (and who really cares anyways, I could care less, just show me price action) but it is interesting to note the interesting price action in gold miners despite the move lower last week in gold. Keep an eye on this.
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Valued Member
126 Posts |
Gold and Silver are in triangle holding patterns right now. It is good to wait and see if price breaks up or down as it will be the trend going forward. Here is the 20 year monthly chart of Silver. Gold is similar.  |
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Pillar of the Community
United States
3789 Posts |
Silver and gold getting a good bounce here as of late. But the real question is, is this just bouncing after the heavy amount of selling? At what levels does resistance kick in?
for my time frame, I dont see anything really, just a no mans land right now for gold and silver.
Are gold and silver going to use this past week of buying to build some sort of base going forward or will the selling start up in a few days? Only time really will answer these questions.
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Pillar of the Community
United States
1205 Posts |
With the breaking political news just in the last hour, surely, all heck about to break loose...I loaded up on SPXS...can you say adios Bull Run? Expecting a MAJOR bump up on NY bullion at the start 530AM here PST.
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Pillar of the Community
United States
3789 Posts |
@ilikeikes
sorry to tell you but unless you bought SPXU for a short term trade, your destiny is to lose money. This market is not going down for NOTHING, not even a nuke from North Korea could take down SPX.
any and all dips in this market get snapped up.
Not trying to be mean towards you or put you down but this is exactly why this market keeps grinding higher, no one believes in this uptrend and it has NOTHING to do with Trump.
For your sake, I hope you book profits and dont let them slip by you. The market will buy this dip and any others.
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Pillar of the Community
United States
5838 Posts |
I will say Yup is on target and people going to buy on the dip, market not ready for the down turn yet at least for another month and a half.
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Pillar of the Community
Australia
7096 Posts |
Quote:
no one believes in this uptrend and it has NOTHING to do with Trump.
 Seriously, If the market jumped every time Trump did something stupid Silver would be at $100 per ounce already  |
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Replies: 5,643 / Views: 459,665 |
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Posted 05/03/2017 7:32 pm
