well for me personally, I'm looking to sell some gold but mostly
silver up in these levels soon. I've been buying this stuff
for 10 years, I have so much physical gold and silver, I've been a
gold bug since 2001 so don't give me all the end of the world stuff
I know that, I know the fundamentals of the precious metals better
then most, yes I know it's paramount to heresy for me to
sell some gold/silver to gold bugs.
However especially for silver, it's gone too far too fast.
I'm NOT saying the bull market is over, I think it has years
to go yet in the precious metals. but I've trading too long
and I've seen too many things, the move up in Silver is too far too
fast, when it finally corrects, it will do so sharply and quickly,
it could fall from $50 to 40 or 35 in 2 days once it starts
correcting if it wanted to. For now silver keeps going up,
need to see reversal, maybe it goes to $50 IDK, but a short
term blow off top is coming eventually. I'll make anyone here
a bet that I will be able to buy it back lower this year.
But to buy here for an investment makes absolutely no sense to
me, for a trade yes, but not for buy and hold, you buy pullbacks to
support in bull markets not chase short term parabolic moves.
The risk/reward is not favorable here for new investments.
If you want to hold positions that you bought in the teens
fine, but buying long term holds here to me is like buying a house
in 2006. Right now silver is 67% above the 200 day MA, which
matches the
2006 high
You have to remember that the miner also have headwinds with
expenses... just like everyone else...as the rails found out today.
It actually does cost money to find the gold ,
silver...
The bull market still has a ways to go. We haven't reached
bubble status yet. But people always seem to forget how fast and
hard they correct when they top. The crowd always gets in late and
are caught when these parabolic move ends.
The thing to watch for is a huge gap up, and a reversal leaving
an ugly, reversal candle. Every top since this current, secular
bull market has ended that way.
yes thats my point, the bull market is far from over in the pm
market, I think we'll see gold north of 2000 eventually.
Just saying buying silver now in the short term is like
buying with the masses/sheep unless you are trading for the short
term. Yes you need to see a reversal pattern, candle to
indicator an end to the parabolic move etc, and of course Silver go
higher until it puts that reversal in. But buying in here for
investments is what the masses do. Once it puts in a blow off
top it will consolidation for a months, then can look to get back
in. I'm all about good risk/reward, buying silver at this
point for an investment causes flashing red lights to me
buy into weakness sell into strengh. Never
show any signs of fear....that's the other guys problem.
One minute your up 1/2 million dollars in silver
futures...the next minute your down and your kids are not going to
college...and you can forget about the GI JOE doll with the kung
foo grip.
And on the opposite spectrum... it'll seem like the bull market
is over at the bottom. It's hard to pull the trigger, but those are
the best risk/reward entries.
gold is has been very slow and steady. I too have been
buying like you for last 6-7 years. Gold should see higher
prices while silver may blowoff around all time highs and rest for
long time before next up leg.
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SLV look at the 25
SLV
Posted by coold on 20th of Apr 2011 at 12:43 pm
SLV look at the 25 puts for July. some one bought 100k contracts last week when it was 14c
GOLD and Silver selling Off
Posted by coold on 20th of Apr 2011 at 01:10 pm
GOLD and Silver selling Off
well for me personally, I'm
Posted by matt on 20th of Apr 2011 at 01:29 pm
well for me personally, I'm looking to sell some gold but mostly silver up in these levels soon. I've been buying this stuff for 10 years, I have so much physical gold and silver, I've been a gold bug since 2001 so don't give me all the end of the world stuff I know that, I know the fundamentals of the precious metals better then most, yes I know it's paramount to heresy for me to sell some gold/silver to gold bugs.
However especially for silver, it's gone too far too fast. I'm NOT saying the bull market is over, I think it has years to go yet in the precious metals. but I've trading too long and I've seen too many things, the move up in Silver is too far too fast, when it finally corrects, it will do so sharply and quickly, it could fall from $50 to 40 or 35 in 2 days once it starts correcting if it wanted to. For now silver keeps going up, need to see reversal, maybe it goes to $50 IDK, but a short term blow off top is coming eventually. I'll make anyone here a bet that I will be able to buy it back lower this year.
But to buy here for an investment makes absolutely no sense to me, for a trade yes, but not for buy and hold, you buy pullbacks to support in bull markets not chase short term parabolic moves. The risk/reward is not favorable here for new investments. If you want to hold positions that you bought in the teens fine, but buying long term holds here to me is like buying a house in 2006. Right now silver is 67% above the 200 day MA, which matches the 2006 high
silver
Posted by Michael on 20th of Apr 2011 at 02:10 pm
well said matt
gold miners
Posted by mizzy on 20th of Apr 2011 at 02:11 pm
gold miners specifically have been held down thats where the value is imho
gold miners
Posted by zach06 on 20th of Apr 2011 at 02:14 pm
You have to remember that the miner also have headwinds with expenses... just like everyone else...as the rails found out today. It actually does cost money to find the gold , silver...
gold miners
Posted by mizzy on 20th of Apr 2011 at 02:15 pm
Yes but they are still trading like gold is at 1100 to many dont beleive prices are sustainable.
Parabolic
Posted by skyfish on 20th of Apr 2011 at 02:45 pm
Fed day on the 27th, in 6 days. A small rewording about interest rates in the statement could end the move in Au and Ag.
gold miners
Posted by kc on 20th of Apr 2011 at 02:24 pm
Yes, but there's a reason for that.
Cost, 25% is oil and you can see where oil is.
The bull market still has
Posted by cw12 on 20th of Apr 2011 at 01:54 pm
The bull market still has a ways to go. We haven't reached bubble status yet. But people always seem to forget how fast and hard they correct when they top. The crowd always gets in late and are caught when these parabolic move ends.
The thing to watch for is a huge gap up, and a reversal leaving an ugly, reversal candle. Every top since this current, secular bull market has ended that way.
yes thats my point, the
Posted by matt on 20th of Apr 2011 at 02:01 pm
yes thats my point, the bull market is far from over in the pm market, I think we'll see gold north of 2000 eventually. Just saying buying silver now in the short term is like buying with the masses/sheep unless you are trading for the short term. Yes you need to see a reversal pattern, candle to indicator an end to the parabolic move etc, and of course Silver go higher until it puts that reversal in. But buying in here for investments is what the masses do. Once it puts in a blow off top it will consolidation for a months, then can look to get back in. I'm all about good risk/reward, buying silver at this point for an investment causes flashing red lights to me
You see it's like this
Posted by matt on 20th of Apr 2011 at 02:25 pm
You see it's like this
got that right.
Posted by zach06 on 20th of Apr 2011 at 02:43 pm
buy into weakness sell into strengh. Never show any signs of fear....that's the other guys problem. One minute your up 1/2 million dollars in silver futures...the next minute your down and your kids are not going to college...and you can forget about the GI JOE doll with the kung foo grip.
zzzzzzzzzzzzzzzz
Posted by jtverr on 20th of Apr 2011 at 02:44 pm
zzzzzzzzzzzzzzzz
YAWN....thx matt. zzzzzzzzzzzz
Posted by jtverr on 20th of Apr 2011 at 02:30 pm
YAWN....thx matt. zzzzzzzzzzzz
And on the opposite spectrum...
Posted by cw12 on 20th of Apr 2011 at 02:11 pm
And on the opposite spectrum... it'll seem like the bull market is over at the bottom. It's hard to pull the trigger, but those are the best risk/reward entries.
+ 1
Posted by PA on 20th of Apr 2011 at 01:45 pm
+ 1
well said
Posted by mizzy on 20th of Apr 2011 at 01:31 pm
gold is has been very slow and steady. I too have been buying like you for last 6-7 years. Gold should see higher prices while silver may blowoff around all time highs and rest for long time before next up leg.