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 Replies: 5,649 / Views: 460,781 |
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Pillar of the Community
 United States
3789 Posts |
looks like 20 on tap eventually...
want to make note of another. Throw away your textbooks. This one is for all the people who get correlations wrong all the time and believe they are always the same, which is wrong.
Take a look silver. It is up. Take a look at the dollar. Take a look at gold. Flat.
Who says PMs cant be up when the dollar is up also?
Edited by yup7676
06/30/2016 3:52 pm
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Pillar of the Community
United States
606 Posts |
Exciting to see silver making a move today.
I sold some of my miners mutual fund at the end of trading to capture some gains and bring my holdings to a more comfortable level. Now I can relax and enjoy what is hopefully a long uptrend in metals.
Stay safe out here. It's been a wild week.
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Valued Member
United States
455 Posts |
Tomorrow, tomorrow, where will it be this time tomorrow? This is a 3 day weekend, lots can happen while the markets are closed! Small time player, own 85 OZ. purchased since Dec. 2015, with a dollar cost average of $16.17. Webekin
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Pillar of the Community
United States
7390 Posts |
Silver just broke $19! Can we get to $20 by opening bell  |
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Pillar of the Community
United States
3789 Posts |
YAY! We are all rich.... oh wait not all of us because a lot of the public kept buying on the way down so now they are STILL underwater, even in a downtrend, oh well, cant save everyone.
The way to big profits in the financial markets is to spot trends, await confirmation, look for yearly highs and when they start FRESH.. and by simply following price action you can make some very big fat juicy profits and laugh in the face of the market while overs trip over themselves.
Again, the game here is to hold your PMs and miners until the very end of the trend, when it starts puking. I dont envy intra-day traders ( if you are still using the term "day trader" BTW you are out of touch and behind, a very old term) one bit, they hustle to pick up pennies in front of a steam roller while trend traders make incredible mind numbing money by just sitting tight and buying right.
Stop worrying about when it ends, stop worrying about what price targets your miners and PMs will hit. The more you think of that, the more you will itch to sell and then be full of sadness as it rises without you AND you set yourself up for a big fall when the tone of the trend changes.
Enjoy these times because there will be a time when the trend continues but changes how it operates. Learn to sit tight, buy right and wait it out.
It has been a pleasure to watch the absolute noise of Brexit which means NOTHING while in the mean time, PMs have risen higher and other select defensive areas of world financial markets.
Dont buy the hype, ignore the financial news media, just follow price, you will never lose, even if your stops rack up, follow price and you will profit beyond what you thought a mere mortal human could do.
The additional and secondary thing is sentiment remains negative and the public still hasnt caught on and I dont think they will want to touch gold and silver because of the long downtrend for now. I think once gold and silver really start getting going, then the late comers will start to jump on the band wagon and as usual, history repeats themselves and they will get smoked once again. For now tho, it seems the general public cant grasp this start of the uptrend and will look at the past four years and say " yea I dont want to get smashed again".
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Pillar of the Community
United States
1205 Posts |
I don't think the large commercials will miss the next PM. Why? From let's just say Jan 3rd, 2016 to roughly March 15th 2016, most miners were up well over 300%..many at 700%....a few 10-baggers...BILLIONS could have been made, by right timing, in, just 70 days.
The buying power out there on the sidelines is huge....come on you folks...come join us, and, drive our miners to the moon!
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Pillar of the Community
United States
7390 Posts |
Holy crap! I was just kidding about hitting $20 today but it's looking like there's actually a possibility of that happening! ! !
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Valued Member
Canada
312 Posts |
Wow....it just keeps on going up...After the big jump the other day I've been waiting patiently for a violent drop in spot price so I can unload on some silver,however I'm starting to think that no matter what kind of correction there is the price ain't going to get no where near as low as it was a month ago.....I thought things would have at least levelled out by now.
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Pillar of the Community
United States
7390 Posts |
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Pillar of the Community
United States
606 Posts |
@yup
For the first time, I have gone back and reread some of the initial posts in this thread. You have done a great job of introducing trend trading. I think you have probably saved people some money.
I started purchasing when silver was at $19. It dropped quickly in 2014 and I continued to buy down to $13.80 (that famous Sunday). However, I was introduced to silver at $19. Had I been introduced at $30, I probably would have started buying there as well.
After Brexit, I had a friend text me and indicate he was thinking about buying some Deutsche Bank. It's funny because I found myself with similar arrogance saying why would you try to catch a falling knife. If you had bought it at 40 you would be down. Buy at 30? Down. 20? Down. Rinse and repeat.
I'm afraid this thread has created some mini Yups, perhaps we can be called Yips?
Between this thread, the Youtube Igold Advisor, and FX Empire daily reports on Youtube, I feel like I have learned a lot.
I still have some reservation about any financial strategy, because if it were so easy, why wouldn't everyone be doing it. I guess as I begin following trends in other sectors, I can see how this approach works. I'm also still at a bit of a loss as to long term trends versus monthly versus weekly. Finally, I still am not sure about exit points as I don't have any knowledge of when a trend is broken.
Be safe out there and always do your own diligence.
MontanaYIP
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Valued Member
Canada
312 Posts |
LoL.....Jumped it has Cascade....And when it does drop I'm still not going to like the spot price compared to what it averaged over the last 14 months since I started buying PM's....How high it goes,who knows....even at today's price it might be a steal compared to what the future spot prices have in store for us.
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Pillar of the Community
United States
606 Posts |
So it looks like the PM bull market has lasted about 7 months.
For this type of industry, is there a typical range? If the downtrend lasted 4 years, is it reasonable this could last years?
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Pillar of the Community
United States
7390 Posts |
Who knows Montana. Yes it could and maybe it wont. The downtrend lasted that long. Just ride the numbers brother. Don't speculate for a second! Just react to what the action is telling us day by day
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Pillar of the Community
United States
606 Posts |
One additional question from a fledgling Yip:
In some earlier threads, a comment was made that summer is boring and nothing really happens. However, this was articulated as a positive to create consolidation and chomp chomp chomp.
Given we have experienced the opposite, is this a good sign, or is this no longer setting up as expected?
Thanks,
MontanaYIP
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Pillar of the Community
United States
3789 Posts |
what strikes me as interesting right now, as I leisurely look at the tape, is GLD ramping up in the last hour and the long bond holding up incredibly well as we head into a long holiday weekend...
more later...
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Replies: 5,649 / Views: 460,781 |
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Posted 06/30/2016 5:29 pm
