| Author |
 Replies: 92 / Views: 8,701 |
|
|
|
Pillar of the Community
United States
1088 Posts |
Added 3 ASE and a Maple to my small collection of silver. Got all three for $94.00 |
|
Pillar of the Community
United States
3789 Posts |
The entire metals complex is down... even the leading market medals are experiencing a major dump, Pal and Plat. I would think these two are more of a corrective move.
However, the bleeding continues and will continue with silver and gold, at least for another day until they come into some support and just have to wait and see how they react at these price levels.
I wouldn't be dip buying however, since its clear lower prices can be had.
|
|
Pillar of the Community
United States
5821 Posts |
Quote:
I wouldn't be dip buying however, since its clear lower prices can be had. I, on the other hand, would be. Right now I'm targeting gold below $1500 and silver below $27 for my next purchase. Probably won't happen, but you never know (it wasn't that long ago that silver was at $26). To each his own, I suppose! |
|
Pillar of the Community
United States
2168 Posts |
Yes but if buying regularly worth buying. The last time many were waiting for under twenty five dollars and it just didn't come.
|
|
Pillar of the Community
United States
2168 Posts |
Barryg we were typing at the same time I think
|
|
Pillar of the Community
United States
5821 Posts |
I have to say, btw, that I am always amused at the folks who come here posting all the reasons why PMs are sure to explode or else plummet dramatically any day now. They are all good reasons, I am sure, but the one thing I've discovered is that nobody knows for sure and that half of the people get it wrong every time (OK, so that's two things).
My wife (who works for a financial company, incidentally), straddles the line. On one hand, she is absolutely 100% convinced that PMs are on the verge of going up, up, up and that we should make sure we have a good amount of them in our investment portfolio. On the other hand, whenever I tell her that prices have dropped and it's time to pick up some more, she always tells me to wait for awhile since the prices will probably drop even further. So far, she has usually been right about prices dropping right after I make purchases. I'm still waiting for her to be right about the prices rising dramatically...
|
|
Pillar of the Community
United States
3789 Posts |
Well it all depends on your time frame too.
right now, this instant the price action is death in the metals. Dip buyers will be punished severely.
Its clear funds and "tutes" are lowering their PM holdings going forward and market is pricing this in. Dont become a bagholder because you cling to your hopes lol Remember, the market is always right.
|
|
Pillar of the Community
United States
5821 Posts |
Of course the market is always right! The problem is that nobody knows what the market is going to do until after it has occurred (and sometimes not for years if you are talking about long-term trends)...
|
|
Pillar of the Community
United States
3789 Posts |
I respectfully disagree.
The market is always right, and the price action always gives signals and clues about problems up ahead or, conversely things getting better
for many months, the markets have been saying equities are getting ready for moves higher and look at where we are today.
On the other hand, the market has been giving clues that gold and silver are moving lower. Funds have been slowly but surely been selling gold and silver down for months. The market price action in gold and silver has been nothing but in a downtrend. Gold and silver miners have been moving lower for months in front of lower prices in and silver gold.
Why? because market participants at these companies have been selling down knowing prices are going to be coming down.
The market will never say, with loud trumpets and bull horns where the next move is. It is down slowly and quietly.
A trend trader as myself spots these clues every single day. .... and for a while now, the market has shown its been selling down silver and gold.
Does this mean that silver and gold are bust? Are they going to zero? That's not my concern and it is not my job to predict price, rather I go with the trend, which for now is certainly down with silver and gold.
So again, the markets speak volumes everyday, and the easiet way to understand this is to keep it simple by looking at the price action.
|
|
Valued Member
United States
318 Posts |
I'm emptying the bank account at $25, and liquidating stocks at $20.
|
|
Pillar of the Community
United States
3789 Posts |
Fed minutes are the kiss of death for PMs, much lower prices are in store in the coming days.
BTW, let me say this- I am NOT against silver or gold. I am NOT saying they are going to zero.
I am only going with the current trend and price action. I am neither anti-metals, nor pro-metals in the form of PMs.
|
|
Pillar of the Community
United States
2168 Posts |
|
|
Pillar of the Community
United States
3789 Posts |
Friends, I would also like to ask all of you to look at what has happened to the price and reaction of silver and gold after the most recent Fed minutes and meetings.
Again, this selling doesn't mean we are going to zero.
The market is simply re=pricing, as it does with all assets, their need going forward, think of it as a discounting mechanism.
I would also like to point out, as was shared and observed by other traders, that no doubt the market has been selling ahead of this event, full well knowing that the Fed is going to possibly reduce its use of QE. Hence why earlier occasions, PMs have not rallied on talk of QE.
|
|
Bedrock of the Community
United States
10982 Posts |
The Fed minutes don't indicate a withdrawal of QE, in fact they signal it may INCREASE.
There is a lot of panic selling today. This has happened many times over the last 5 years. In 2008 when we broke $1,000 it fell to $700. In 2011 it went to $1900 and fell to $1550. In 2012 after hitting $1800 it fell to $1550 again.
The same fundamentals are in place today. We have print money and keep interest rates at 0% to prop up the equity markets and avoid a depression. This is a buying opportunity and a hold for those who bought high.
|
|
Pillar of the Community
United States
3789 Posts |
Please re-read the Fed Minutes, clearly you didnt read them.
This is not panic selling. Volume and price action dont like, the fact of the matter is funds are not buying gold and silver. The selling has been happening for weeks and months now.
|
| |
Replies: 92 / Views: 8,701 |
First Page
Previous Page
Posted 02/20/2013 10:30 am
