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Bump for $33. Who is backing up the truck today?
Bump for nostalgia! Wish I had bought more that day.
Warning Fools! Silver Will Fall by 66%
- Thread starter bobbyw24
- Start date
Bump for nostalgia! Wish I had bought more that day.
bobbyw24
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Data Suggests Silver Correction Ahead
In 2004, 2006, and 2008, the price of silver experienced three large separate moves followed by similar corrections of magnitude and duration. Our in-house analyst, Chris Puplava, averaged them into a single composite (red line below) and compared the current chart of silver (black line) to see how closely they compare. As you can see below, the similarity between silver currently and the average of the past three moves has been very close.
http://www.financialsense.com/contr...1/09/06/data-suggests-silver-correction-ahead
In 2004, 2006, and 2008, the price of silver experienced three large separate moves followed by similar corrections of magnitude and duration. Our in-house analyst, Chris Puplava, averaged them into a single composite (red line below) and compared the current chart of silver (black line) to see how closely they compare. As you can see below, the similarity between silver currently and the average of the past three moves has been very close.
http://www.financialsense.com/contr...1/09/06/data-suggests-silver-correction-ahead
ronpaulfollower999
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Silver is dropping today! Not that I'm complaining cause I was planning on loading up this week anyway but woohoo!!!! look at that discount!
pmbug
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In 2004, 2006, and 2008, the price of silver experienced three large separate moves followed by similar corrections of magnitude and duration. Our in-house analyst, Chris Puplava, averaged them into a single composite (red line below) and compared the current chart of silver (black line) to see how closely they compare. As you can see below, the similarity between silver currently and the average of the past three moves has been very close.
http://www.financialsense.com/contr...1/09/06/data-suggests-silver-correction-ahead
Where do you see the floor for silver on this dip? Low 30's according to the chart?
bobbyw24
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Could be there soon?
squarepusher
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haha waiting 7 months for this?
bobbyw24
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I read here that in times of turmoil and stock market trouble Silver & Gold are safe havens.
ctiger2
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During a currency crisis, yes. We're not there...yet. Patience.
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Another buying op coming up. Still has a way to go. Once again, 30 is a potential buy spot. (barring that big crash, as always).
bobbyw24
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Why the short-term pain of the post-"Twist" sell-off in #gold and #silver will give way to long-term gain.
“Should you worry if the gold price falls another $100?,”asked a Daily Wealth article, when gold was just north of $1,800 an ounce: “As you can see from the chart, gold ’sprinted’ this summer. The metal surged from $1,500 to $1,900 in under two months. This type of parabolic move is often followed by a healthy ’shakeout’ that backtracks 50% of the previous climb. Should the ‘50% rule’ apply to gold’s latest jump, the precious metal would fall down to $1,700 per ounce. This fall might scare some latecomers, but we’d see it as a natural, healthy selloff.”
About that sprint, Gold Newsletter editor, Brien Lundin, says that “If the European debt crisis and the S&P downgrade of U.S. sovereign debt had happened separately, say a couple of months apart, I think gold would have risen just as far, but the rise wouldn’t have been as steep and the market wouldn’t have overheated. But they happened to occur right on top of each other, so the market got ahead of itself and went nearly parabolic.” Longer term, he points out that “There is no way, especially under the weight of those austerity programs, that growth can be robust enough to overcome these debt burdens. At some point and to some degree, inflation will have to depreciate those debts away. That is the very reason why investors with a long-term view are buying gold.”
http://silverandgoldcoinblog.com/
“Should you worry if the gold price falls another $100?,”asked a Daily Wealth article, when gold was just north of $1,800 an ounce: “As you can see from the chart, gold ’sprinted’ this summer. The metal surged from $1,500 to $1,900 in under two months. This type of parabolic move is often followed by a healthy ’shakeout’ that backtracks 50% of the previous climb. Should the ‘50% rule’ apply to gold’s latest jump, the precious metal would fall down to $1,700 per ounce. This fall might scare some latecomers, but we’d see it as a natural, healthy selloff.”
About that sprint, Gold Newsletter editor, Brien Lundin, says that “If the European debt crisis and the S&P downgrade of U.S. sovereign debt had happened separately, say a couple of months apart, I think gold would have risen just as far, but the rise wouldn’t have been as steep and the market wouldn’t have overheated. But they happened to occur right on top of each other, so the market got ahead of itself and went nearly parabolic.” Longer term, he points out that “There is no way, especially under the weight of those austerity programs, that growth can be robust enough to overcome these debt burdens. At some point and to some degree, inflation will have to depreciate those debts away. That is the very reason why investors with a long-term view are buying gold.”
http://silverandgoldcoinblog.com/
-C-
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If you have any inclination to what is going on, even if its limited to the central banks becoming the powerhouse purchasers of Gold, then you would cheer when you see both Gold and Silver prices go down. It gives YOU a chance to get on THEIR scheme. The PM bubble, imo, is no different than any other bubble. Hell the Gold Florin had a paper bubble on top of it in the 1300s(lol this shit isnt new and Gold was worth "zero") and it blew all to shit leaving all of Italy, and eventually Europe, tattered.
So ride the wave and go physical regardless if its gold or silver...stay away from that "paper metal," its bullshit. In my honest opinion, if you have financial aggregated future contracts, which sum is larger than the annual global production, traded over and over again in a less amount of time than it takes to produce...it totally rules out the so-called "golden rule" to a fixed amount of inflation of said gold, or any other so-called precious metal for that matter.
So ride the wave and go physical regardless if its gold or silver...stay away from that "paper metal," its bullshit. In my honest opinion, if you have financial aggregated future contracts, which sum is larger than the annual global production, traded over and over again in a less amount of time than it takes to produce...it totally rules out the so-called "golden rule" to a fixed amount of inflation of said gold, or any other so-called precious metal for that matter.
Last edited:
bobbyw24
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INVESTOR ALERT: Silver Smashed! What to Do Now...
It was the biggest single-day decline in silver in two decades. On Friday, silver futures at one point posted losses of 17.7% for the day, as the spot price closed just over $31. On early Monday morning, it fell into the $26s before recovering to $29.
Earlier last week the Federal Reserve issued a policy statement warning of "significant downside risks to the economic outlook." You'd think that if silver got walloped over fears of another global recession, the stock market would have been similarly affected. Strangely, the equity markets on Friday acted as if nothing happened. The S&P 500 posted a 0.6% gain on the same day the metals complex got smashed to smithereens.
The violent price drops in the metals appear to have been driven less by the fundamentals of physical supply and demand and more by technical paper selling in the illiquid futures markets. Margin calls to leveraged futures traders – as well as increases in margin requirements by the Chicago Mercantile Exchange – have accelerated the selloff.
Independent Living Bullion - A trustworthy source for gold and silver bullion.
Keep in mind that when the price of a commodity is set artificially low, shortages eventually emerge. We are already seeing signs that certain types of silver products in the retail market are becoming scarce at these prices, which are stimulating demand from bargain hunters. Asian buying in the physical market is brisk as well.
Unnatural sell-offs in these markets make many precious metals bugs irate. I take a more opportunistic view.
When the price of silver gets artificially low, I view it as an opportunity to buy ounces at a discount to the real value I'm receiving. I don't invest funds that I expect to need in the short to medium term, so these violent corrections are mostly an annoyance. Staying calm and buying more when these sharp corrections come along has been a winning strategy for this entire bull market. During the 2008 financial crisis – after silver prices collapsed by 50% to under $10 – those who had the resolve to exploit the situation are today up over 200%!
Silver's Long-Term Chart Still Looking Up
More downside is possible in the paper trading market before a major support level is reached. Discouragingly, however, silver broke below its 50-week moving average, which it will need to regain before we can say all systems are go. On the bright side, the major uptrend that has been in place since late 2008 has remained intact.
Silver Long Term
There are times to be buying aggressively and times to be cautious. I was cautious on silver for much of this year. In fact, in the spring silver had gotten so overextended technically and in relation to gold on an intermediate-term basis that we at Independent Living suggested to readers that they consider selling some silver and switching it into gold. Since then, silver has fallen sharply in relation to gold.
MORE
http://cl.publicaster.com/ViewInBro...|956780&digest=3RcK8wFphs7yOy8J3SaLFw&sysid=1
It was the biggest single-day decline in silver in two decades. On Friday, silver futures at one point posted losses of 17.7% for the day, as the spot price closed just over $31. On early Monday morning, it fell into the $26s before recovering to $29.
Earlier last week the Federal Reserve issued a policy statement warning of "significant downside risks to the economic outlook." You'd think that if silver got walloped over fears of another global recession, the stock market would have been similarly affected. Strangely, the equity markets on Friday acted as if nothing happened. The S&P 500 posted a 0.6% gain on the same day the metals complex got smashed to smithereens.
The violent price drops in the metals appear to have been driven less by the fundamentals of physical supply and demand and more by technical paper selling in the illiquid futures markets. Margin calls to leveraged futures traders – as well as increases in margin requirements by the Chicago Mercantile Exchange – have accelerated the selloff.
Independent Living Bullion - A trustworthy source for gold and silver bullion.
Keep in mind that when the price of a commodity is set artificially low, shortages eventually emerge. We are already seeing signs that certain types of silver products in the retail market are becoming scarce at these prices, which are stimulating demand from bargain hunters. Asian buying in the physical market is brisk as well.
Unnatural sell-offs in these markets make many precious metals bugs irate. I take a more opportunistic view.
When the price of silver gets artificially low, I view it as an opportunity to buy ounces at a discount to the real value I'm receiving. I don't invest funds that I expect to need in the short to medium term, so these violent corrections are mostly an annoyance. Staying calm and buying more when these sharp corrections come along has been a winning strategy for this entire bull market. During the 2008 financial crisis – after silver prices collapsed by 50% to under $10 – those who had the resolve to exploit the situation are today up over 200%!
Silver's Long-Term Chart Still Looking Up
More downside is possible in the paper trading market before a major support level is reached. Discouragingly, however, silver broke below its 50-week moving average, which it will need to regain before we can say all systems are go. On the bright side, the major uptrend that has been in place since late 2008 has remained intact.
Silver Long Term
There are times to be buying aggressively and times to be cautious. I was cautious on silver for much of this year. In fact, in the spring silver had gotten so overextended technically and in relation to gold on an intermediate-term basis that we at Independent Living suggested to readers that they consider selling some silver and switching it into gold. Since then, silver has fallen sharply in relation to gold.
MORE
http://cl.publicaster.com/ViewInBro...|956780&digest=3RcK8wFphs7yOy8J3SaLFw&sysid=1
Zippyjuan
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Looks like the original post was pretty correct on the price direction for the price of silver. It was about $45 an ounce back then (end of April 2011- and according to the chart above was the peak price) and is around $30 an ounce now. Not a 65% decline but it has been going down.
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