What Happens To Gold And Silver Next? Look Out Below?

Silver has lost $18 per oz since this thread started.
I blame this thread.

No problem Calvin.

Remember too, the entire market has opportunities, even in times when its going sideways. For now, PMs need more time.


heck even Corn is trying to make some moves higher, trying to break trend lines higher. Soybeans, which are in an uptrend, earlier this summer had a pull back and looks like they are getting ready to break out higher once again. Talk about big downtrends in the grains.

While one sector might go into a dormant stage, another wakes up. This is how one should view PMs currently.

I've been looking out below for months and haven't seen the $10 buy point I'm waiting for. Wake me up when we get there.

highly doubt we see 10s, 12s, etc on silver.

I have seen assets in uptrends give up their gains and remain 1-2 points above their break out areas, chop around, and after much time, then they move out even farther. Depending on your goal, your strategy, your experience, you may want to close things out. Personally, I am looking for that trend, want the strongest of trends and when it starts to weaken or slow down, and something else is moving or acting better or in other words, profitable, thats is where I send my capital.

For this reason I said many times, you dont go and blow your entire load at once. Pyramid on the way up and wait, watch. Right now, there a few areas in the market, tho thin, that are giving a lot more than gold and silver. Finally, don't forget, silver is still up for the year, 26% and gold is up 18% for the year.

I think that is what is playing out here with silver and gold. they need a LOT of time to go by right now for the next move.

@jmgi

I dont have a particular opinion on it, price wise it was at 52 highs when gold and silver were moving, so that is a positive for it.

The only thing I would say is just be careful, and this is pretty much in general with any stock say under 10 dollars.

You are carrying a bit more risk with stocks under 10 dollars, they are subject to much move wild swings and violent moves and sometimes are not in the best of financial shape.

That is NOT to say that HL is plagued by that or that other stocks under 10 bucks are in that category. I have seen many stocks at 9 bucks go all the way to say 50+. Just keep in mind, again, that it might be even more of a wild ride than say being in a more high priced stock that has more volume in it and more buyers.

If you are dip buying, stick with the STRONGEST names in the group. The more speculative names, like this under 10 dollar stocks, do less of them. Some of the better silver names are SLW, PAAS and SSRI.

@yup,
Just curious what your thoughts about why Sibanye Gold has not rebound better? I would have thought by now the troubles they had would have been worked out.

@Zack

SBGL is acting like every single miner. GOld and silver pulled back and so did the miners. Until gold and silver get going, the miners are going to be lagging.

SBGL's price action is pretty much like all the others right now.

What is needed is a lot of time going forward.

so far AEM, ABX, CDE looking the best from their ERs and the reaction the best, NEM ugly.

However, markets not having it and really doesn't want miners for the time being. They will however re-visit the better names with good ERs when the time is right for the market to re-vist the miners so dont lose sight of these names.