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Silver Is Trending Down/Up....

2834518 Views 26101 Replies 677 Participants Last post by  cowboy1964, 
txflyer


I don't know what else to say other than maybe buy some. :eek:::confused:


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sierra skier
Now that silver has breached the $30 support area I wonder just how far it will fall. With all of the poor news in Europe and the Euro's troubles I can only imagine the dollar will soar for a while as the teeter totter ($ vs Euro) swings again. A soaring dollar will mean reduced prices for PMs and commodities in general until folks realize the dollar is in no better condition than the euro.
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sierra skier
Silver dropped below $29 on the spot market.

www.kitco.com
SPOT MARKET IS OPEN
( closes in 17 hrs. 14 mins.)
Metals Date Time (EST) Bid Ask Change from NY Close
Gold Charts GOLD 05/09/2012 00:01 1589.60 1590.60

-15.20


-0.95%
Silver Charts SILVER 05/09/2012 00:01 28.91 29.01

-0.56
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sierra skier
Branned said:
No the fiat USD is hyped and we as a Nation have missed the train.:eek:
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Nope, we haven't missed the train,,,, we are all on the train and bridge ahead is ooouuuuttt.:confused:
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sierra skier
txflyboy said:
In about a month, I will be at a meeting in Houston with one of Wells Fargo's top financial administrator's. I don't advertise my beliefs as I do here, but it will be interesting to hear what he has to say when I ask him about gold and silver acquisition.
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It will be very interesting to hear his thoughts on holding physical. As far as paper, I don't speculate on the futures markets or gamble in the stock markets. I am just not knowledgeable enough to feel good about putting my money on those tables.
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sierra skier
txflyboy said:
Greek Uncertainty Pounds European Markets
http://www.foxbusiness.com/markets/2012/05/14/greek-uncertainty-pounds-european-markets/

Uncertainty over the impact of a potential Greek exit from the euro on the debt-laden 17-nation currency bloc drove a rush to safety by investors on Monday, sending the single currency to near four month lows and European shares down 1.5 percent.
:)
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The Euro, Dollar teeter totter is again moving in the dollars favor. The dollar is @ 80.61, up .30

This means PMs are suffering in dollar costs right now. TPTB have been playing the Euro/Dollar teeter totter game for years now as part of their global market manipulations.

What does all of this mean? I just sit and watch in fasination as it is way beyond my understanding.
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sierra skier
Castor said:
If he is part of the investment advisory herd, holding physical pms are only for the crackpots, bunker dwellers and future mad max bikers and not a viable form of investment. I mentioned this last year when we met with our investment mercs and got that funny smirk.

I think at least in the short-term, pm prices will continue to drop imho. I am certainly not as financially smart as some here, but in my own mind, this is what will drive pm prices.

Greece falls out of the Euro and with the subsequent contagion in Europe, there needs to be a massive de-leveraging of debt. This will actually push deflation in the short-term and push prices down.

I know the governments will be running the presses on high trying to stave this off, but the massive write-downs of debt will, at least initially, will overwhelm this. You may see silver in the low 20s/high teens by the end of the summer. I also read a gold report which had this theory on it and had gold touching the lows of 1100.

My longer term view is positive for PMs. After all of that deleveraging, i think inflation is inevitable and those who had the flexibility to invest in pms will make out as bandits.

Take what i say regarding pms with a grain of salt. I have silver ounces with an all in cost value of $42 bucks an ounce. With today's spot, i am easily 20% to the negative on them. Put the piece of mind i get from having them more than covers this loss.
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Thanks for you thoughts. I could easily see your described scenario coming about. If Greece goes down the Euro will more than likely tank and money will move into 'safe' US Treasuries, bonds and dollars driving the dollar up,,,, hence driving PMs (and all commodities) down. Once investors wise up to the fact the dollar is in no better shape commodities should soar as a safe haven.

Of course with the endless manipulations possible by our leaders over the markets who knows what might truly happen.
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sierra skier
txflyboy said:


Markets Closed

$28.12



This is getting to me. I may average in a little more....I know the general consensus here and in the press is that it is going lower, but there is always that BUT. BUT it could bust wide open any day.:rolleyes:
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Patience has its virtues.
:thumb:
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sierra skier
PMs may have turned around last night. The dollar index is down after rising sharply for several days and the PM futures are up. This after silver dropped into the high $27 range for a bit,,,,,,,,,, we'll see.
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sierra skier
Here is a pair of graphs from Dec. 2011 and May 2012. This was the last time silver was this low. In Dec it fell into the $26 range.

http://www.kitco.com/scripts/hist_charts/monthly_graphs.plx
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sierra skier
txflyboy said:
I hit the golden window back then when you could drink when you turned 18. Man we did some crazy ****!

I've had a wonderful life. Celebrities, Hollywood, I even got to dance with Charro. Remember Charro the kooochy koochy girl?



O.k. enough showing off.

Silver is below $28 and holding.
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Boy OH boy is that some good looking silver. At less than $28 an ounce it might be expensive but I would order the whole package.
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sierra skier
SomeChump said:
Has anyone else started seeing news articles about how precious metals are no longer a safehaven for a down ecomomy? It seems reguardless of bad news about greece/euro/us, metals are trending downward. Doesn't make a lot of sense with the world economy tanking.... Is this some spin put on by the puppeteer's to generate a sell-off by the sheeple fearing a loss on investment? This, in turn, would allow those with the knowledge and $$$ to invest in physical metals for the final collapse. Any thoughts?
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The folks in charge have so many ways to manipulate the markets it is incredible. Physical PMs shouldn't be bought for the short term or as investments but for longer term wealth protection or barter when the time comes.

You just have to get them and then put them away and forget about them.
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sierra skier
MR_SLOW said:
Look like a little rally before Ben make his little speech.27.92 LOL It will go back down after the speech.
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If the Ben Bernank says there will be easing it will rally. If he says the dollar is doing well and the economy is in recovery mode it will proceed lower. At least that is my take, and with the Euro taking the heat right now I believe PMs will continue to muddle along in dollar value.
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sierra skier
The dollar is up .17 to 81.59 and silver is up $.70 to 27.97 after bottoming out in the high $26 range. I wonder if the slide in PM prices is over for now? This appears to be very similar to the PM price fall last December.

http://charts.kitco.com/KitcoCharts...407_iCharts_silver_chart&utm_campaign=iCharts
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sierra skier
alisium said:
I have a nice big wad of cash reserved for some silver and have been holding off. My first instinct this morning, when I heard it was going up, was to buy right now. Then I decided to wait and see. I think you're right, it's going to go up for a bit and then right back down.

I don't see why it even went up, at least the fundamentals and the world wide situation (Euro) has not changed since yesterday. So what gives? Other than some manipulation.
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You're expecting logic in today's markets? That is almost like expecting logic in the California firearms laws,,,,,,

I was baffled as well to see the PMs going up with the dollar going up at the same time. Best of luck with your attempt to time the market low.
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sierra skier
Silver has never been worth zero,,,,,,, can't loose it all, just get hit real hard.;)
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sierra skier
I hope all of the fence sitters took advantage of the recent opportunity to buy in low on PMs, as it looks like they are moving up again. Silver @ $28.80 and gold @ 1596.30. It waits to be seen if this rebound is a 'dead cat bounce' or the trend.

This most recent correction seems to have run very similar to the one back in Dec. 2011 with a small drop into the $26 neighborhood and now rebounding.
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sierra skier
I was referring to the drop in price as the correction and running the parallel to the last it dropped into the $26 arena. At this point if the parallel is to continue we will have seen the bottom for another several months at least.

The only issue in trying to time the bottom and buying at the lows might be availability. Sure the price may be right but there may be little for sale or the premiums may skyrocket. The most important thing is to have it so we can sleep well,,,, especially if we wake up Monday AM to a bank holiday or some other paralyzing economic issue.

http://charts.kitco.com/KitcoCharts...407_iCharts_silver_chart&utm_campaign=iCharts

http://www.kitco.com/scripts/hist_charts/monthly_graphs.plx
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sierra skier
Silver is up on the spot market @ $28,87,,,, up 15c,,,, oops now 28.75,,, up 3.
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sierra skier
Retired11B said:
Wouldn't that strengthen the dollar which would make pm price go down?
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alisium said:
Because I don't know, I'm just going to guess. The way that would work is the Euro would now be seen as having some stability. Therefore some of that cash that fled the Euro markets for the Dollar would return back to the Euro.
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The Euro and Dollar have been on the teeter totter for years now and depending on what news comes out on Greece or US debt etc. one goes up and the other down. As a rule when the dollar rises PMs priced in dollars go down.

With Greece getting bailed out, 'good news' for the Euro, so the dollar may drop and PMs should rise. With all of the manipulations that have been going on there has been disconnects in the regular indicators.

We had a person on the board here who is very knowledgeable in economics give up trying to read the indicators because of the way everything is being so badly manipulated. This happened over a year ago.
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sierra skier
txflyboy said:
Interesting. Silver dropped a dollar on the news of the EU downgrade.
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Hadn't heard about the Euro downgrade, just got home from float tubing with my fly rod, but it sounds about right.

EU downgraded means increased $ investments and hence a drop in PMs. The dollar is currently up .29 today to 82.50,,,,, kinda up there lastely.
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