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 Replies: 3,400 / Views: 119,420 |
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Moderator
 United States
196465 Posts |
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the correction will have to be of the magnitude of something like the Great Depression of the 1930's.  Quote:
Keep Stacking, Don't Sell  |
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Pillar of the Community
 United States
6017 Posts |
I suppose we should be grateful it fell to the ~$59 zone and then just stuck there all day instead of falling any further, right?
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Moderator
United States
196465 Posts |
With a little bump back into ~$60 zone at the end.  |
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Pillar of the Community
United States
1354 Posts |
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I suppose we should be grateful it fell to the ~$59 zone and then just stuck there all day instead of falling any further, right? Yes, very grateful. Like I said a couple days ago at the top of my post Silver should be below $55 and cruising to $50 right now with all that's going on with the Dollar and interest rates.. On top of that the market just had a Red day. But it's still grabbing on somehow. Edited by Harry213
Yesterday 6:11 pm
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Moderator
United States
196465 Posts |
I believe the night crew believes what you believe. Back into the ~$59 zone, knocking on the door to ~$58.  |
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Pillar of the Community
United States
1354 Posts |
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I believe the night crew believes what you believe. Back into the ~$59 zone, knocking on the door to ~$58. Gold broke below it's trend line yesterday a lot harder than Silver did yesterday. So much in fact that most trader's I follow went Short Gold last night based on that price action. However this morning Gold isn't looking bad, it's actually a little green. But Silver is looking far, far worse. But hey, it's not about "beliefs". Once you start looking at the market using math, stats, technicals and all the moving parts behind it, instead of beliefs, it's a whole different ballgame. Considering that the 10 yr yield is at a 20 yr high, the Dollar is at a 17 month high, the bond market is sounding an alarm, interest rates, inflation, Iran, it's a gosh darn miracle Silver isn't at $50 right now and Gold is not at $3500. Keep Stacking. Don't Sell. It's going to get worse before it gets better. |
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Pillar of the Community
United States
1354 Posts |
Not only should the metals have been going down by now but the stock market should have also been going down by now. Well actually the stock market has been going down under the hood, 10 out of 11 sector's of the S&P, the Dow, the Russell, all have been drifting down since August, it's just the AI and Technology sector that's keeping the whole thing afloat.
The point is that it's less than 4 weeks before the midterm elections, and we can't have a crisis happening right now can we. That just wouldn't look good would it. Keeping things up for another month until after the elections is not a problem for them. Believe me they are actively managing the situation with Bonds, Treasuries, and Oil and well just about everything, until next month. But they can't stop the clock forever. Eventually it breaks.
After the midterms the crisis can be allowed to happen, or they'll find one. Wether it be a ground invasion in Iran or something we don't know is coming. But a crisis either way. Will it raise inflation? sure. Will it make everything cost more and the Dollar worth less? sure. But they already said we will inflate our way out of debt.
But what's more important about the crisis, wether it be war or something else, is that it will give the Fed the excuse they need to start QE and crank up the Money Printing machine again and start printing cash at historic levels we've never seen before. Money printer go Brrrrrr!!
It's the only way out. And all of this I mentioned doesn't have to happen on November 4th. It can slowly unfold between November and June of next year. But it has to happen.
What happens to the price if Silver depends on the how, what, and when of these events occurring.
Keep Stacking. Don't Sell.
Sell your Pokemon cards or something else instead of your metal.
Edited by Harry213
Today 52M ago
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Moderator
United States
196465 Posts |
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Sell your Pokemon cards or something else instead of your metal.  My belt is fastened and my seat is in the upright position.  |
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Pillar of the Community
United States
1792 Posts |
I've been slowly selling records and MTG cards off and buying silver for the last two years  Records have intrinsically zero value, and boy have some of their collector values dropped off a cliff! |
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Moderator
United States
196465 Posts |
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Records have intrinsically zero value A good reason for me to not sell mine.  I have been sitting on an number of collector cards since I was a kid. Every time I get them out with the intention of selling them, I get lost in nostalgia and sentiment. I convince myself the modest gain from selling them is not worth the effort.  |
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Replies: 3,400 / Views: 119,420 |
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Posted Yesterday 4:10 pm
