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07-22-2020, 08:48 PM
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#2131
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,735
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Quote:
Originally Posted by FakeNameChanged
SLV which is what I use, traded almost 125 million shares today, which is about 6X normal.
Using a monthly time frame to look for breakouts, and looking back 3 years, I have both GDX, gold miners and silver in ultimate breakouts. Just so it's not penultimate.
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i look at daily, weekly, and monthly. as far as silver goes, it hit the lows of a bar from back in 2011, the top of the bar is $34. i am thinking it is going to run to that number like a magnet. at the same time, gold may not do so much, which happens to make total sense because your silver is a monetary metal and a manufacturing metal.
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07-23-2020, 12:00 AM
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#2132
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Registered User
Join Date: May 2011
Posts: 22,629
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Quote:
Originally Posted by lamboguy
they got silver up to $23 and so far its holding price with plenty of volume behind it.
MUX had a wide price spread today and looks like this one wants to break out of its 8 year consolidation. thats a long consolidation if i say so myself.
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quite a few short sellers in July contract, could get squeezed.
some really heavy buys in SLV a couple days ago.
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07-23-2020, 04:35 AM
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#2133
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,735
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Quote:
Originally Posted by davew
quite a few short sellers in July contract, could get squeezed.
some really heavy buys in SLV a couple days ago.
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SLV is backed by physical silver. the more SLV buying, the more silver, and anyone caught on the wrong side of it, namely JP Morgan, has to cover. if they don't short anymore, the price will run.
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07-23-2020, 11:11 AM
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#2134
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Registered User
Join Date: Apr 2014
Posts: 1,755
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I would be careful with silver. I used to own slv. I sold it for 24 about 8 or 9 years ago. It still hasn’t reached that level. As far it’s being an industrial metal that hasn’t helped
Of course it could go back to 30. But just be careful.
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07-23-2020, 11:19 AM
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#2135
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Registered User
Join Date: Apr 2014
Posts: 1,755
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Quote:
Originally Posted by Secondbest
Stock futures opened lower. Gold opened higher. Gold has been in a large box range for a few months now. It's right at the top now. I'm keeping an eye on it. If and it's a big one it's breaks up and hold for 2 days.a good rally could occur. It measures to just shy of 2000. It might be worth looking at if your so inclined
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Spot gold hit 1887 today. 1900 looks like good place for a stall or a pullback. But like everything else we shall see.
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07-23-2020, 11:21 AM
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#2136
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,735
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Quote:
Originally Posted by Secondbest
I would be careful with silver. I used to own slv. I sold it for 24 about 8 or 9 years ago. It still hasn’t reached that level. As far it’s being an industrial metal that hasn’t helped
Of course it could go back to 30. But just be careful.
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everything you do in the markets is dangerous and there are no sure things. the most important thing is that when you have to take down the currency when its on the table before it gets up after desert and flys away!
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07-23-2020, 11:26 AM
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#2137
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,735
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Quote:
Originally Posted by Secondbest
Spot gold hit 1887 today. 1900 looks like good place for a stall or a pullback. But like everything else we shall see.
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i am lining things up with the dollar at 94.50. the bankers are going to try to keep that number intact to try to get the president re-elected. if they can't sub 90 is on the way.
so i agree with you on gold and silver getting smashed at that point. that being said i don't think that the correction will be a big one. maybe 3 or $4 on silver and $150-$200 on gold before another attempt to break the highs.
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07-23-2020, 12:22 PM
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#2138
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Registered User
Join Date: Apr 2014
Posts: 1,755
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Dollar is really weak. That’s a big reason why gold is up.
As far as how low gold and silver go in a correction Gold has good support around 1820. Silver?
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07-23-2020, 12:57 PM
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#2139
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,735
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Quote:
Originally Posted by Secondbest
Dollar is really weak. That’s a big reason why gold is up.
As far as how low gold and silver go in a correction Gold has good support around 1820. Silver?
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the dollar is some of the reason, i would guess the strength of the yen is bigger. but it really comes down to someone is buying this stuff now.
NICKLE looks great as well.
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07-23-2020, 06:19 PM
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#2140
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,735
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silver margin requirements just raised at the crimmex this evening
i say it won't matter!
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07-23-2020, 07:45 PM
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#2141
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,735
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i like this
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07-24-2020, 10:34 AM
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#2142
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,735
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dollar breaking down now
Euro is flying, Pound moving up and the Yen just broke out of its range. the yen wants to go to 101, its 105 now. that one is intense.
there is a very possible avalanche underneath this dollar. we could easily be heading to 88 on that dollar.
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07-24-2020, 10:48 AM
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#2143
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,735
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Mark Mobius
this guy is 83 now, he looks great for that age.
he says buy gold now at $1900 and keep buying it!
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07-24-2020, 02:42 PM
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#2144
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Registered User
Join Date: Jul 2011
Posts: 547
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Quote:
Originally Posted by lamboguy
this guy is 83 now, he looks great for that age.
he says buy gold now at $1900 and keep buying it!
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I've been buying Gold since the virus reached the mainland. Consensus for target has been around $3k. This guy says otherwise. I hope he is right.
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07-24-2020, 04:58 PM
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#2145
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Registered User
Join Date: Jan 2010
Posts: 2,176
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Quote:
Originally Posted by PressThePace
I've been buying Gold since the virus reached the mainland. Consensus for target has been around $3k. This guy says otherwise. I hope he is right.
https://youtu.be/eASLNfftJbg |
@PressThePace, who's consensus for $3K? My own conservative target is $1960 to $2100, but I would rather your consensus is correct.
__________________
One of the downsides of the Internet is that it allows like-minded people to form communities, and sometimes those communities are stupid.
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