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

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Pillar of the Community
United States
3789 Posts
 Posted 10/31/2013  09:58 am  Show Profile   Bookmark this reply Add yup7676 to your friends list Get a Link to this Reply
Well, yesterdays reversal in price followed through today with more downward pressure. That places gold once again getting knocked down from the upper end of the range and putting itself in a position to work towards the lower end of the range.

Not the kind of price action you want to see for higher prices. Gold must snap out of these ranges and then hold them each time as I have been saying repeatedly. Until gold and silver do this, they remain range bound and essentially broken.
.
Those thinking that gold and silver were in primary uptrends have been shown to be wrong by the price action.
Valued Member
Arcticsparky's Avatar
United States
380 Posts
 Posted 10/31/2013  11:58 am  Show Profile   Bookmark this reply Add Arcticsparky to your friends list Get a Link to this Reply
That's some good story telling yup. Are you sure you're not a DC spin doctor? I agree that while the market is being inflated people can make allot of money. That wasn't the point I was making. I was simply pointing out that it IS being inflated. A bubble is a good easy mental image for people for something that is being inflated.
Pillar of the Community
United States
2168 Posts
 Posted 10/31/2013  12:03 pm  Show Profile   Bookmark this reply Add angel2004 to your friends list Get a Link to this Reply
I think many views are from the trader perspective. I think many on these boards are more in the Pm physical buying and selling so you should read with that in mind
Pillar of the Community
United States
3789 Posts
 Posted 10/31/2013  1:01 pm  Show Profile   Bookmark this reply Add yup7676 to your friends list Get a Link to this Reply
Mr AS..

I take exception with several of your points, one being that it is only your opinion that its being inflated. You have no direct evidence that its being inflated. You are talking glittering generalities. What proof is there that its being inflated?

Are you seriously saying the Federal Reserve inflated AAPL to make desirable products everyone wants? You are basically insinuating that the Fed is making CMG sell more burritos and chips and dip. You are essentially saying GOOG and its market dominance across various platforms and markets in technology was inflated by the Fed.

That is very laughable and deceitful. Sorry but companies that are publicly traded do not need the Fed to inflate them. You really need to come up with another argument as to why markets are rising.

How about being honest with yourself and accept that American companies are strong. After all AMZN is not selling more and more product because the Fed "inflated" them. I mean come on.

now back to silver and gold... not even inflation or money printing can get these going as evidenced by the price action.
Valued Member
cosmoscoins's Avatar
164 Posts
 Posted 10/31/2013  1:07 pm  Show Profile   Bookmark this reply Add cosmoscoins to your friends list Get a Link to this Reply
U know Yup your so wrong,,u just said few mins before a report yesterday metals are going back up and as soon as they would not your back to they will not go back up are you for real,,I think you have no idea how to read a broken US,,its ok you trade day to day and you are finding it hard to make money,,get use to it,,,Buy silver hoard copper and zinc,,Cosmos
Pillar of the Community
Broseph's Avatar
United States
979 Posts
 Posted 10/31/2013  1:27 pm  Show Profile   Bookmark this reply Add Broseph to your friends list Get a Link to this Reply
Even with today's drop, silver is up $0.71 in the 30 day.

One day's events don't mean much of anything in terms of overall trends, you of all people should understand that.

When silver went up by $2 you basically said "calm down, it's still a STRONG downtrend, you guys don't understand the market"

So, even with a $2 increase everyone was wrong wrong wrong

Now a $1 drop and its "People thinking that gold and silver were in primary uptrends have been shown to be wrong by the price action."

I think the reason people get peeved with your posts sometime is because when there is evidence of them being right you say "nope, you don't understand, you don't have the expertise I do"
But the slightest bit of evidence for your prediction and its off to the races.

So again, silver went up $2, everyone was still wrong. Silver went down $1 now everyone is PROVEN wrong?

But I'm just trying to point out why everyone on here seems to bee getting in scuffles with you.
Basically when people have evidence of being right, like the increases we have had, you say they don't understand and basically play it off as their ignorance.
And any time there is a drop, you point out they were wrong the whole time (even though it still has a net increase!).

Kind of a negative cycle.

Honestly, I would like silver to go lower so I can BUY. I'm just trying to point out why some of these negative posts have been coming about.

Remember, this is coin COMMUNITY forums.

I understand you want to help people not get burned by PM hoarding, but currently the way you are going about it has some people's blood pressure up.

This is just me trying to be helpful, if people disagree with me let me know. I'm just trying to Dr Phil the thread a bit
Edited by Broseph
10/31/2013 1:29 pm
Pillar of the Community
United States
3789 Posts
 Posted 10/31/2013  1:40 pm  Show Profile   Bookmark this reply Add yup7676 to your friends list Get a Link to this Reply
@Bro-

As I have repeated myself many times and I will do so again

1- Longer term context/time frame, gold and silver are in a major downtrend.

2- expect retracements/rallies in price. This is normal and all part of the process

3- gold and silver are range bound at best. The ranges in price are clearly marked out and I have explained them repeatedly.

Its really quiet simple to see and understand. The price action in the past few months tho is exhibited by broken assets. Patterns repeat and repeat and that's what we are seeing. I would not be surprised to see in the coming days a lot of chop in both PMs as they attempt to now go for the lower end of their range.

Broken assets you just watch unless you have a different time frame. There's just way too much money being made in other parts of the financial markets for me to even waste my time in putting any money into them.

Furthermore, long term investors should also wait out this chop until either we find a floor (which everyone is tripping over each other to call) or wait for prices to break out of this long term downtrend.

Its all very quite simple and I am giving you all a free education that you will be able to profit from. Stop fighting your emotions for want of being right, just accept the price action and let it talk to you. :D
Pillar of the Community
Broseph's Avatar
United States
979 Posts
 Posted 10/31/2013  2:40 pm  Show Profile   Bookmark this reply Add Broseph to your friends list Get a Link to this Reply
You must not have read my post. I WANT the price to go down. Also, the point of my post was about the WAY you go about posting you opinions. I actually said pretty much the same thing twice in the post just to make sure it seemed like the main point... but I guess it still didn't connect?
Pillar of the Community
United States
3789 Posts
 Posted 10/31/2013  3:23 pm  Show Profile   Bookmark this reply Add yup7676 to your friends list Get a Link to this Reply
@Bro -
I am just here to talk price action. Cant help you with anything else.

We can talk price all day about gold and silver. Theres nothing wrong if you are wrong, I'll always kindly point it out and help you learn.
Pillar of the Community
Broseph's Avatar
United States
979 Posts
 Posted 10/31/2013  3:43 pm  Show Profile   Bookmark this reply Add Broseph to your friends list Get a Link to this Reply
wow
Valued Member
cosmoscoins's Avatar
164 Posts
 Posted 10/31/2013  4:16 pm  Show Profile   Bookmark this reply Add cosmoscoins to your friends list Get a Link to this Reply
Yup is only here not to agree,,he will do this over and over,,,he has been so wrong about the markets in the last few weeks its funny.Either Dow or Bullion he has been wrong..Buy Silver hoard copper and zinc,,,,Cosmos
Valued Member
cosmoscoins's Avatar
164 Posts
 Posted 10/31/2013  4:19 pm  Show Profile   Bookmark this reply Add cosmoscoins to your friends list Get a Link to this Reply
I will no longer post on his Thread,he is always wrong,he has no idea what is going on in the markets period,,,Buy silver hoard copper and zinc,,,,Cosmos
Pillar of the Community
Doug58s's Avatar
United States
899 Posts
 Posted 10/31/2013  6:15 pm  Show Profile   Bookmark this reply Add Doug58s to your friends list Get a Link to this Reply
Guys...settle down a bit. This thread has been quite helpful to many of us. That there are differences of opinions at times will always happen. It ends up really getting out of hand sometimes when it is written in a forum such as this. That is the nature of written text - it tends to be harsh.

I also don't always agree with yup - but I do agree silver and gold remain in a down trend. That is seen when you blow up the data and look at it from high - year over year data. We are currently floating at the low $20 range, but it isn't rising for several years and hovering here - it has been slowly sliding down and bouncing... yup has repeatedly said that he believes the data shows it will go lower given the trends - don't buy bunches - nibble.

Don't take that as a personal assault if you don't agree.
Pillar of the Community
nalaberong's Avatar
Canada
2805 Posts
 Posted 10/31/2013  6:29 pm  Show Profile   Bookmark this reply Add nalaberong to your friends list Get a Link to this Reply
I guess... you'll go crazy if you watch the price all day long. Get a lava lamp if you like to see tiny rises and falls...
Pillar of the Community
SA4H's Avatar
United States
2764 Posts
 Posted 10/31/2013  7:12 pm  Show Profile   Bookmark this reply Add SA4H to your friends list Get a Link to this Reply
Anyone recall PM market back in the 90s? I guess we are back to that stage.

I agree w/ Doug (which paraphrased yup). I also agree w/ Broseph (the way yup said things irritated many).

I point of view: Diversify (still buying PM, mostly silver, but of various group, not just junk bullion) and Dollar-cost-average (taking the lesson from some long time members on here - RIP Fred).
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