Is 34 - 36 the New Norm

[FreedomUIC]

Seems it has fluctuated around this area now for a couple of weeks. What is y'alls opinions

 

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[Marchas45]

Seems it has fluctuated around this area now for a couple of weeks. What is y'alls opinions

Not really, it's only been there this week, last week was up to 39 and the week before was 49 if my memory serves me correctly but don't take that for granted this old mind is not like it used to be.

But this is correct: Use the yearly chart, then Charts and Data

http://www.kitco.com/charts/historicalsilver.html

 

[jim4silver]

I was gonna buy some yesterday but held off. If it drops back into the 34 dollar range this afternoon I will get a bit.

A couple of online newsletter pundits that are not "kool aid" drinkers have rec'd to start buying at these levels. Not that anyone knows what will happen, but these guys were saying sell right before the crash so maybe they will be right now.

I personally still think it could hit 28 before it takes off again, but I wonder what the prices/supply here will be on physical if it drops to that number.

Jim

 

[JD-GA]

Jim-- Just curious but you have mentioned before you think it will dip into the 20s. Do you have anything to go on as to why this might happen or is it just what you are hoping for? Kinda like us "koolaid" drinkers who want it and expect it to go up. Haha.

 

[Felinepeachy]

Hahahaahaaahha, when I read the post title I thought when I clicked on it, you would be talking about pants sizes

 

[jim4silver]

Jim-- Just curious but you have mentioned before you think it will dip into the 20s. Do you have anything to go on as to why this might happen or is it just what you are hoping for? Kinda like us "koolaid" drinkers who want it and expect it to go up. Haha.

JD,

I feel silver could come down to 28 or so because that is where the next level of technical support is in the charts. Quite honestly I feel I have lost my "vibe" with respect to short term silver, so I am just guessing. I have started buying in again in small amounts each time to hedge my bets. I may get some more on Monday if it gets knocked down a bit Sunday night (I am hoping).

Just for the record when I use the term "kool aid" drinkers I don't mean simply silver bulls, I mean folks who don't listen to anything that goes against their personal views and disregard any evidence to the contrary--like when silver was near 50 and if you said a correction was coming they would tell you that you were a goof ball and that silver will NEVER fall into the 30s again because all the silver is used up in the world, etc. They could be bulls or bears and be a "kool aid" drinker. This is just my personal opinion and maybe they, "the kool aid" drinkers, are correct and I am wrong.

I have spent alot of time this week reading different pundits' views on the silver/gold and stock market. The consensus I got from those who I consider to be "fair" on the issue and not biased one way or the other, is that there will be weeks or at most a couple of months consolidation in silver and by the end of the summer it will start its ascent again, but probably at a slower upward pace than what it was. There tends to be a growing consensus that gold will rise higher than it has been compared to silver this past year, but over all silver will still go further percentage wise than gold by the time it ends.

Those waiting to buy in the low 20s or mid 20s may be out of luck in that there is no guarantee it will get that low. I feel that if any big, unplanned tragic world events take place, such as some crazy terrorist event, that PMs will shoot back up on the uncertainty issues.

My short/medium term goal is to sell some of my speculative silver purchases (what I am buying now) if/when silver gets back to 49 or so and use those profits to short the stock market via put options on certain stocks I feel will correct big time if the market in general falls (which I feel it will in the future). I do think the stock index will get back up to near the pre crash high short term which could mean another 1000 or so in the dow at most, but at some point it will fall (this fall or a bit later, unless a QE3 is announced, then the sky is the limit for stocks, as well as inflation in my opinion).

I have checked many different large stocks and what is amazing is the high number of insiders selling their shares vs. insiders buying their own company's shares. Most (all buy ONE) of the stocks I looked at had zero insider purchased shares in the last year or so, but had millions worth sold. That tells me something right there. Just for fun, go on yahoo financial and check out some of the big companies and click on "insider transaction", you can see what has been bought and sold by a person or entity deemed to be an insider. It is amazing the lack of buyers.

Jim

 

[clovis97]

I am just a guy with a $300 computer, but here is my two cents:

The 200 day moving average shows support at $28. I have a hard time believing that silver would fall below that price point.

I also think that silver is ready for another big rise. I have no idea if it will be next week or next year, but I think it will be sooner than later.

As an amateur, arm-chair, only-on-the-sidelines investor, I've seen commodities shoot up, then fall, and then come screaming back higher than they were originally.

I wish I had the money to invest in silver. I'd be buying some every week "scaling into position" so it will all average out in the long run.

 

[jim4silver]

I am just a guy with a $300 computer, but here is my two cents:

The 200 day moving average shows support at $28. I have a hard time believing that silver would fall below that price point.

I also think that silver is ready for another big rise. I have no idea if it will be next week or next year, but I think it will be sooner than later.

As an amateur, arm-chair, only-on-the-sidelines investor, I've seen commodities shoot up, then fall, and then come screaming back higher than they were originally.

I wish I had the money to invest in silver. I'd be buying some every week "scaling into position" so it will all average out in the long run.

I would agree 100%.

Jim