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 Replies: 12 / Views: 1,319 |
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Pillar of the Community
United States
3670 Posts |
You may noticed gold did just cross the 1800 line yesterday for a short time, and now a pullback of about 25 bucks since then.... As with silver it crossed 35 bucks, an now has pulled back to just under 34.... These big money traders are more predictable than a robin waking as the sun rises before it begins its day of picking for worms  . Lets make a quick buck an buy back in the fall.... I personally think that we are in an upward climb pushing toward Christmas, but expect some kind of major pullback before the new year as I have mentioned a time or two lately. Going on past history charts, that many of you love so, lol.... I expect gold an silver to start back on up the rest of the week, passing $1800 an $35 dollars, before hitting $1900 (maybe $1950 to $1975) an $40 to $45 bucks again perhaps on silver. Then a drop back to the low 1600's for gold an silver back down to $28 to $30 bucks an ounce, hence re-opening that buying window that should be a steady climb through the new year towards summer.... Anybody buy that or sell and figure it is gonna just keep climbing steady heading into the new year, or perhaps already peaked out for both and a major drop for both? Lastly, that shark was on T.V. just now, testing the new peanut butter snickers an he said.... "The last gal did not taste like peanut butter like Steve!" An the other shark chimes in an says ...."Yeaaaaah, Steve was delicious!" What does that have to do with Pm's, nothin really just always strikes me as funny that commercial, lol  .... Edited by Silverhawk74
11/09/2011 3:59 pm
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Valued Member
United States
58 Posts |
Interesting I would love silver to drop to 28-29$  to make a big buy. Thanks for your prediction all we can do is wait and see. |
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Valued Member
United States
362 Posts |
Its an interesting drop seeing how the market was so far down today
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Pillar of the Community
 United States
3670 Posts |
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Pillar of the Community
United States
1150 Posts |
Look. We just saw a 400 point drop and normally this would have caused silver and gold to drop a lot more. It only dropped a tad bit. This is a VERY, VERY good sign for silver and gold going forward.
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Pillar of the Community
United States
4008 Posts |
A rise or fall in stocks can certainly have an affect upon PMs but the reason for the stock price move matters more than the size of the move. If brokers have to sell something to cover their short positions, then other assets that have been doing well are usually among the things sold. In this case, PMs drop due to there being more sellers than buyers. If stocks drop because of political instability, then PMs are more likely to become seen as a safe haven and more buyers turn out than sellers. This pushes the prices of PMs up. Currently, EVERYTHING in the stock market seems to depend on the financial flailing going on in Europe. This seems ridiculous until one learns the truth about the size of the liability that some of the biggest banks have with derivatives and credit default swaps sold by US banks and purchased by European banks. The banks will say that they have about a $40 billion dollar liability there and that they have much more than adequate cash flow to handle that should it get to be a problem. What they do not say is that this is $40B "net" liability and that they are reducing their total liability by crediting the CDSs and derivatives that they have purchased from the European banks. Problem is, if the large European banks collapse, they will not be able to pay the US banks what is owed to them, so this would not actually reduce their over-all liability. At the moment, this liability exceeds $500 billion... and it is growing. The banks and the stock brokers know all this and more besides. This is why even a little bad news out of Europe sends major shock waves through the US banking system and the US stock market. An investor with a short time horizon would be worried about such things. Others with a longer time horizon in mind will usually just shrug, buy the dips, and call it good.  |
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Pillar of the Community
United States
1450 Posts |
With the hit the Euro took today,everyone rushed into the US dollar so PMs dropped big. There was still a good bit of PM buying so if the dollar begins to drop PMs will take off big time. Jim Cramer said this morning he thinks gold will hit $2000/oz by years end
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Valued Member
United States
58 Posts |
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Welcome aboard Silversam! Always appreciated silverhawk 74!  |
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Pillar of the Community
United States
1150 Posts |
I fail to see how todays drop was 'big.'
Also, everything has been centered on Europe for some time (Euro down, dollar up, etc..). That doesn't explain why, short positions or no, gold and silver relatively stood their ground with a 400 point down day. I've seen 100 point downs and far larger drops in g&s. Not that it is all constants, however it is still a positive sign as it signals more confidence in PMs with all this craziness going on.
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Pillar of the Community
United States
3670 Posts |
It seems like any given day lately the proverbial Joe can hit the fan in EUROPE, causing a panic rush into the US dollar, hence pushing Pm's down....
And it seems like to my amateur eye, Pm's can still climb on bad days for stocks, but when stocks really drop big the whirlpool effect seems to grab the metals an pull them down with all the other commodities.....
But like Mitch said, huge show for the strength for minor pullbacks, even though the numbers have dropped more from the figures I put in the original post....
Edited by Silverhawk74
11/09/2011 11:48 pm
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Pillar of the Community
United States
4008 Posts |
Quote:
Also, everything has been centered on Europe for some time (Euro down, dollar up, etc..). That doesn't explain why, short positions or no, gold and silver relatively stood their ground with a 400 point down day. I've seen 100 point downs and far larger drops in g&s. Not that it is all constants, however it is still a positive sign as it signals more confidence in PMs with all this craziness going on. Agreed, Mitch. From my observations, we can expect anything at all from the US stock market... anything but rationality, that is. :-/ I'm unconvinced that we can get anything useful from market behavior regarding how much up and down motion there is, just as whatever motion there is does not tells us a thing about the volume traded during those motions. |
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Pillar of the Community
United States
3670 Posts |
Gold an silver just took every right hook an upper cut Europe an the rest of this quagmire planet could toss at it, and just like the fighter with the heart of a champion, it picks itself up an gets back on that ladder! Sky's the limits.... I think we will look back at these days in five to ten years as a swing moment, get on the boat or miss the boat, as no doubt I believe in the strength of silver an gold as much now as I ever have.... I know this big money investor who owns several businesses and also hangs out at my bar/restaurant. Who if compared to me would be like comparing a 1977 GMC PACER (with full features of course, like the massive rear window wiper blade an eight track tape deck) to a fully loaded 2012 Ferrari. He laughs at me for believing in gold, and yet he was as hammered (I was off that night an stopped in) as I had ever seen him two days back DOWN SEVERAL MILLION IN STOCK MARKET LOSES Wed night. I am the Pacer by the way, if you didn't figure that out already, rof  .... Now then as all the wise mention here, if he does not panic an sell he has really lost nothing, as I expect those loses to be regained as it most always it. The trick is can you make it through those bad times, until brighter days.... If I had all of his money, it would not be tied up in a bunch of paper. Instead I would own a serious amount of gold an silver, and would be sleeping much better at night, esp since I rarely drink, as I am way to wise to suffer from a hangover. I actually look ahead beyond the next twelve hours, and suffering is never in my plans if I can avoid it... Edited by Silverhawk74
11/11/2011 3:02 pm
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Pillar of the Community
United States
4008 Posts |
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I think we will look back at these days in five to ten years as a swing moment, get on the boat or miss the boat, as no doubt I believe in the strength of silver an gold as much now as I ever have.... Agreed, Hawk. I have to chuckle at people who say silly things like "Gold at $8000 an ounce! You have GOT to be kidding!". Well, let's think about that. For gold to get to $8000 an oz., we would need it to rise about 450% from where it is today. Hmmm. Didn't gold just rise nearly 600% in the past 10 years? While the past may not guarantee any particular outcome in the future, it sure seems to have established a heckuva trend! Talking about $8,000 gold may seem far fetched until one considers that it already HAS gone up by an even greater percentage than it would take to get it to $8,000 from the current $1775 or so. As we all know, anything that HAS already happened can certainly happen again. It's not guaranteed but then few things are. |
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Replies: 12 / Views: 1,319 |
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Posted 11/09/2011 5:55 pm
