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

if you were a roman and held a common silver denarius since
about 300ad. it would be worth about £60 in f/vf
condition

I'm just being silly cos I'm stuck whilst I'm not
hoping for the end of the world as exaggerated by some.
I believe non-printable coinage is the way to stay
sensible and allow for long term prosperity.

HH

Actually, buy low, sell high is wrong. I would love to debate that all day long and can prove how that is a fallacy but alas, this is not the forum for that. However, we can use silver and gold as examples. Anyone who has been buying "low" as silver and gold prices have tanked, is currently underwater. If someone kept trying to buy the lows they would either be out of money or give up as the prices always go lower. So its simple to see that its a pretty useless thing to say "buy low, sell high". Rather what is done and works is buy high to sell higher. Simple yet hard to understand for most.

Buy corn futures low and you;ll find that you get your face ripped off because it goes lower on you. Trust me, it happens all the time. lol I see it everyday

The problem with Leo's reasoning is that price tells us EXACTLY when to buy something, sell something, or sell it short, we are not clueless.

The price action has the clues that add up to buying or selling. As an example lets talk coffee since its a commodity. Months ago in February it broke trend lines in price, that gave confirmation that it was time to buy it, after it had been in a deep multi year downtrend.

Coffee confirmed and it ran higher. In fact, it continued to make yearly highs, further confirming the uptrend.

he other mistake being made by Leo is hes missing the point that no one is interested in looking for the lows or highs, thats a suckers game. What one is looking for is confirmation that an asset is being bought and that a trend has emerged or if selling short, that theres confirmation to sell short.

Trends are the most powerful ways to understand when an asset is ready to break higher or getting ready to break lower. For silver and gold, we are in huge downtrends that will need a ton of heavy lifting to move higher.

Currently, we do not see any sort of heavy lifting or fund buying to say that silver and gold are going higher.

I have said repeatedly whats going on. Silver and gold are in downtrends. Nothing has changed. There have been repeated attempts with counter trend rallies but none have shown a reversal that sticks.

As a trader, I am free to change my mind based on price action. Simple. I have the liberty to move with the market and dont have to be tied down and have an iron clad opinion from where I budge. I dont need nor do that because thats not how markets work.

By low, sell high is wrong. Why dont you tell the people who bought silver last year, when it was "low" that they can sell high lol God knows when they will even be able to sell it "high".

Its not an "out". The problem that you have and what you dont understand, and I am not putting you down, about trading markets is you NEVER take a solid position on anything. If you do that, then when the trade turns on you, you lose and you lose big. I am successful at my job because I spot the trends, I wait for confirmation and I take it. But if something changes, I either get out or do nothing. A great trader never commits to anything. Its a very simple concept. I reserve the right to change what I do and see based on price action.

All asset classes trade the same: price. Doesn't matter if its stocks, bonds, currencies, commodities. They all act the same way.

You could give any asset in the world, not name it, give me a chart and I could immediately tell if it was being bought, should be sold short or was doing nothing at all. Why? Because all that matter is price.

On any given day I can be trading bonds, currency, commodities, stocks, and other financial instruments. Doesn't matter to me, so long as it has price, can I detect the patterns.

... and dont get me wrong Leo I am not faulting you for not grasping price action. Its clear you do not understand what a trader does from your comments. I am not putting you down, your comments are typical of the general public. I dont expect anyone who doesn't trade for a living to understand what I see and how I do it. I understand that for the general public these things don't make sense and hey, I wouldnt blame anyone for not understanding. I always have family that say "hey I thought this X looked good this week" and yea "x" did look good but then despite offering up a typical set up I would take, things changed. I move on to something else.

I will continue to post updates and offer my color in this thread as I have done so since the start. I dont need to change anything. When the trend changes and its the type pattern where there is indeed a reversal that sticks, Ill be sure to spot it and you;'ll hear about it first, BEFORE its even talked about in financial news media.

by LeoS


I totally disagree with your statements. I know nothing about trading, but I do know that if I would have followed YUP7676's guidance for the past year, I would have been in a much better position to benefit from my bullion stash. He's extremely versed in the ability to tell the difference between a bump/dip as opposed to an actual trend that is highly likely going to be an opportunity to buy or sell. I honestly find it hard to believe that he continues to take the time to share his wealth of knowledge here for free, and I for one, will be placing a high weighting factor on his comments when he shares with us that he believes we're at the bottom and on our way up.

I won't bet my home that he'll be right, but you can be assured that if my knowledge aligns with his, I'll be betting the truck and the dog on that one. And if it don't work out, I'll be the only one to blame, cause I always make the final decision, based on the best knowledge available to me. And right now, YUP7676 has batted way over .500, and that's about .500 more than most people I've tracked in my 46 years of walking this earth.

Keep up the the good work YUP7676, there's a lot of us here that appreciate(and need) your insight !

@GaryN

I appreciate your kind comments and encouragement. What I do here in this thread is solely to help the folks out there who want to put money into silver and gold. I dont have anything to sell, I have no vested interest in gold and silver. I dont even have any holdings in it, and a lot of times I might not even trade it because I have many other trades going.

My whole point is to educate people, to take out the "mystery" of how prices go up, go down and how prices work. If I can help someone stay out, buy, or understand how it works, then mission accomplished.

I, as a trader, will be wrong many times. I do NOT have a crystal to say X price will happen. I cannot predict exactly what happens. But, I know this- when a trend is in place, when its ready to run either up or down.... I will be there and I will spot and recognize it is the REAL deal. If its doing nothing... I will recognize that.

I can read the tape. I know when its saying it wants to change its tune on a dime. Why? Because what happens each day in price paints a story, a picture. It all adds up.


My goal has been from the start of this thread to not discourage silver and gold investing but rather to buy them when they are ready to make some move, so that one doesn't start investing/speculating from a position of being underwater.

I haven't bought silver or gold since you answered my question s several pages ago. PMs were trending downward and you said to watch and wait. I've been watching and reading your posts.

It will take me about 3 months and then I'll be debt free and can start saving my $$$ for numismatic purchases.

Thanks for taking the time to share your insight yupyup.

-MV

@kg5

I am glad to hear that I have been able to be of help via this thread. thank you for your kinds, I appreciate them. If I can help you save money and stretch whatever money you do put into silver and avoid any of this unnecessary pain, then that's great to hear!



@meadowviewcollector

Thank you for your comments, not a problem at all to share what is happening. I wish I had more time to dig even deeper and give more color but many times a lot is going on.

The good thing is first you will debt free which is important. Then you can take on some purchases for numis and hopefully get them at a much lower price or at least a better price without seeing the falling prices of PMs impacting you.

I have said it many times, that this whole thread has been about helping educate and paint a picture, in the most simplest of ways, of how price acts. Once one can grasp that PMs run first and foremost on price action, one will be able to get the clues and put them together and see exactly when prices are rising, dropping or chopping around doing nothing.

Financial houses do not want you to know this. They want you to pay for their reports and services, which is only based on their OPINION.... and in the mean time their other operations are doing something else as they employ traders who indeed are paying attention to price and NOTHING else.

So if I can reach even a few folks to see this is about price action and nothing more, and help folks get the most out of their dollars whether by not buying at all or buying very little or buying when the time is right, then thats a rewarding feeling.

I dont have anything to sell, I dont sell anything and I am just someone who does this for a living who happens to also be involved in collecting coins. This is my contribution to the site and hobby.

@Liverpool

thank you for the compliment friend, appreciate it! Glad to have been able to help you save money!