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He's just following the charts I guess, but doesn't understand the money printing thing and that this is a little different than the stock market. Is it not?
Originally posted by LS650
I ordered some silver last week, so I am tapped out financially and won't be buying any more silver for at least a couple of weeks. Any predictions for the week ahead? I am looking at the Globex chart now: the price of silver is up 6 cents US to $43.30 US.
I started this thread to have conversations on silver, attract more knowledgeable people to come in and also as a beginners resource as well. Judging by all the great feedback, info, knowledge and advice that has been freely offered by everyone here, Mission Accomplished!
Originally posted by jude11
Well, judging by the fact that it looks like we were all wrong last week and there was actually no dip worthy of paying attention to, I'm lost for words on this one.
Originally posted by OBE1
Congratz Silver longs. New [3 decade] high @ 38.52. This, with the dollar firm, and crude under pressure. If oil can cooperate, and Gold manages to break-out of a 6 month consolidation pattern this week, we could see upside to 42-44 on this move.
From the breakout on the 4th, Silver continued to climb eventually printing an intraday high of 41.97 on April 10, then pulled-back to close @ 40.36. The next day, April 11, selling pressure continued, closing @ 40.04 with an intraday low of 39.72.
Missed the bottom of my target range [42.00] by 3 cents ....so sue me
High to low, a measly $2.25 correction across 2 trading sessions. Nary a speed-bump in today's market, at these prices. Just four years ago a 25 cent move across 2 sessions was considered hair-raising volatility
Originally posted by OBE1
Well goodonya jude! Only go around once, why not stick your neck out and make a bold call now and then (especially if you aren't trading it). It's kind of a game anyway, and should you miss, please know that you're already forgiven
I posted over the weekend that I was wanting to see Silver consolidate and re-energize for a few more days around last weeks low, before breaking a new high, but the market has a mind of it's own, and as they say, the market is always right. But with that in mind, this run is looking a little exhausted to me, lets see what happens.
GL
Originally posted by jude11
What about you? Still buying or slowed down a bit?