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

Silver itself is a dead ringer for Nessy swimming in the lock.....

I hope so. I held off on some rolls of ASE's and would like a chance at them.

i can't believe there is not more headaches on here from all the ups and down of silver,i should sell I should buy, if you are truely in it to make money you should be doing it on paper, then you don't have the premiums that you have on coins or bullion, if any of us bought at 19 and paid a 4+ premium on ASE's then you are at just break even now..everyone needs to take a deep breath.. if you are in this for the long haul 5-10 years then you should be dollar cost averaging anyway, don't sweat the ups and downs because they will always be there, and if you are buying silver on credit hoping to hit it big, stop doing that ..

and just one point for YUP,, you call the upward movement a retracing, not a bull move, so when silver continued to go down was that not a retracing as well not a bear movement?

I would say a turnaround happens before reaching old highs. To say silver has not turned around until $50 an oz would not be accurate. To say the stock market turned around this summer because it hit new highs would be off. The turn around happens much sooner then that.

@silverwolf

excellent question!

Allow me to clarify one thing- there is no such thing as a bull or bull. That is, shall I see, very old and a constant mindset that is used mostly to fool the human mind into sticking to a position that is not justified by the price action.

As a great trader said in the 1800s, there is no bull side, there is no bear side. There is only one side and thats being the right side of the market.

So to me, theres no such thing thing as a bearish or bullish move. That means nothing to me. It really doesn't. If you were to talk to other traders that do this, those not on TV nor involved with the media, would tell you that all this bearish and bullish talk is jsut that, its BS talk to make more excitement and catch attention. Being a "bull" or a "bear" doesn't make you money. Its following the price action that makes money.

The market goes goes 3 ways- up, down, or flat/sideways. Thats it.

there is NO such thing as a bull or bear trend. Again let me repeat myself,,, those terms are used to sell the news. The trading community doesn't care about those terms. They ony care about the DIRECTION.

Now to answer your question-

PMs have been in a downtrend since 2011. Since their all time high for gold in 9/30/11 they have been TRENDING down. They have made yearly lows. That confirms our downtrend. There has been no retracement from a high to a higher high. Again, prices hit an all time high and continued to go lower, making sucesive yearly LOWS. Gold has been making lower highs,,, not higher highs.

What we are seeing now IS a retracement because prices are bouncing from lows. A retracement is normal in assets that have been sold hand over fist. It is human nature to pile into a trade heavily on one side. It therefore should be no surprise that with some buying, those selling short gold would have to cover. This, however, does NOT mean we sell short gold because its in a downtrend and now bouncing. We always RESPECT all rallies and let them play out. Remember, we dont make money on calling things "bearish" or "bullish". We make MONEY because we identify any sort of trends or retracements within. This is what traders do.

I;ll have more later on what scenarios to expect and I will share some trade ideas with you all so you can, if you want, cash in on this market move.

Finally I want to say this-: control your emotions. Becareful of not feeling like you didnt get the bottom. Becareful in gloating that the price is done going down.

Fact is, everybody is guessing, some more educated guesses than others but guessing none the less.

I shorted 100 Eagles with zero interest when at $19 guessing it's going up. I could lose out but I could double up. Nothing ventured, nothing gained. So far I guessed right, but that could easily change.

I got into bullion stacking back in January. I don't remember anybody back then guessing it would tank basically overnight and lose 50%.

Rick

I dont view what I do as guessing, otherwise I wouldn't make money.

Its more of putting probabilities on my side and then taking a position. Within downtrends there are retracements, happens all the time.

Which I want to add, gold and silver, on a much longer timeframe and in overall view, are still stuck in a downtrend, nothing has changed.

Another example of downtrends with retracements are the china markets. They have had spectacular rallies in price only to months later fall back down. So none of this is new or unexpected.

JSH...agreed. I don't forsee a huge jump back into the 40's anytime soon either. I do see it as moving from high teens to low 20's - and all that is fine by me. I enjoy silver products, and I can affoord to buy them at these prices without going to ramen noodles! Lets hope it levels off for a while - at least until the next ATB is released!