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 Replies: 84 / Views: 8,056 |
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Pillar of the Community
United States
1450 Posts |
The dollar's "strength" today came about because the ECB said they were not going to raise their interest rates in the immediate future because they don't want the Euro too strong that it puts Europe at a manufacturing and export disadvantage. When that was said,the dollar gained strength against the Euro and PM prices fell,as they should in that situation. The fact that oil and stocks also fell big time today tells you a big chunk of the drop was as a direct result of a big gain in dollar strength. As the strength of the dollar began to moderate again this evening,gold and silver both began to creep back up. I haven't checked but I suspect there was some movement back up in oil also. As long as Washington does nothing the dollar will continue to fall with brief moments of increase because of the policy decisions of other nations.So,how low will the dollar go? As low as the Fed and Treasury allow it to go. With an apparent double dip in housing beginning and unemployment numbers moving only grudgingly the bottom may well be a good ways off! How high will silver go? Depends on how low the dollar goes!
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Valued Member
United States
364 Posts |
Washington isn't doing nothing. They're advocating another $2 trillion raise to the debt ceiling.
What we're seeing this week is a wammy of market manipulation and optimism over Bin Laden going down to a watery grave. By the dip. If you're a long, like me, keep dollar-cost averaging. Nothing fundamental has changed.
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Pillar of the Community
United States
4008 Posts |
Quote:
The fact that oil and stocks also fell big time today tells you a big chunk of the drop was as a direct result of a big gain in dollar strength. Huh? That BIG gain in the dollar had it rising from 73 to 74 on the charts. Not sure what units those are but that does not seem all that big to me. Perhaps it was the fact that, for once in recent memory, the dollar did not FALL any more? As of 11:45 Pacific Time, the dollar is approaching 75 on that same chart. In the face of this continued strength in the dollar, gold is rising slightly while silver is falling slightly. Silver is just under $35/oz. now. Silver is showing some decent strength, IMHO, in that it did not fall further than this. |
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Pillar of the Community
 United States
642 Posts |
Gold is up, and Silver has staying power with a generally flat 24 hour cycle. I think it's time to buy!  Of course anything can happen, but come Sunday night, my prediction is people who buy silver today will be celebrating the return of high prices. At least I'm hoping, because I locked in a good sum of money in Silver this morning.... |
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Pillar of the Community
Canada
1733 Posts |
I'm in it for the long haul, but watching the excitement is definitely affording me huge amusement value.
Gives me an idea for a contest.
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Pillar of the Community
United States
685 Posts |
This is a dead cat bounce. I'm waiting.
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Pillar of the Community
United States
648 Posts |
Westwood - I thought about a dead cat bounce as well, which is why I didn't buy today but got my fix with a little platinum.
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Valued Member
United States
376 Posts |
What's a "dead cat bounce"?
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New Member
United States
34 Posts |
you wioll see silver drop as well as gold I think silver will go down into the low 30;s high 20 by next week at this time
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Pillar of the Community
United States
685 Posts |
A dead cat bounce is when the price of something drops extremely then recovers a little before hitting the real low. Its a stock price term.
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New Member
United States
15 Posts |
From what I can tell, I'm going to sit tight until 33ish. That will be my next physical purchase. Have a good weekend all!
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Pillar of the Community
United States
4008 Posts |
Quote:
A dead cat bounce is when the price of something drops extremely then recovers a little before hitting the real low. Its a stock price term. Right. The idea is that the market (or cat) has no life of its own and is merely a dead body that has dropped to the floor and bounced into the air as if it had life of its own and was jumping. Yes, it is pretty bizarre, as expressions go.  |
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Valued Member
United States
97 Posts |
Buy silver now! it's going back to $50 on a 3 month run! :)
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New Member
United States
3 Posts |
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Pillar of the Community
United States
2424 Posts |
hmm interesting article.
so does he think that these dips are what is going to happen with silver too?
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Replies: 84 / Views: 8,056 |
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Posted 05/06/2011 08:42 am
