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InvisibleLunarEclipse
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Re: Bottom Finally In For Silver? [Re: Adden]
    #21509243 - 04/06/15 08:50 AM (8 years, 9 months ago)

Update 4/6/15.  Dollar index DXY came off its parabolic surge to 100 and back to 96.6.  Oil back over 50 at 50.14 on the WTI.  Silver now at intermediate resistance area of 17.20 and up 2.5% today on the weak dollar.  Euro back to 1.10 level.


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InvisibleLunarEclipse
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Re: Bottom Finally In For Silver? [Re: LunarEclipse]
    #21580345 - 04/22/15 01:45 PM (8 years, 9 months ago)

Quote:

LunarEclipse said:
Update 4/6/15.  Dollar index DXY came off its parabolic surge to 100 and back to 96.6.  Oil back over 50 at 50.14 on the WTI.  Silver now at intermediate resistance area of 17.20 and up 2.5% today on the weak dollar.  Euro back to 1.10 level.




Update 4/22/15.  Resistance at 17.20 held and silver is back down to 15.75.  Dollar index 98.  Oil continues on a tear and actually up over 10% to 56.20 even with the dollar strengthening.  Euro 1.07.

Technically the metals all look horrible.  They have all formed upright head and shoulder patterns and if the dollar strengthens especially if it takes out 100 on the DXY failure will follow.


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Invisiblememes
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Re: Bottom Finally In For Silver? [Re: LunarEclipse]
    #21580780 - 04/22/15 03:58 PM (8 years, 9 months ago)

:allsignspointtoyes:


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InvisibleAdden
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Re: Bottom Finally In For Silver? [Re: memes]
    #21580910 - 04/22/15 04:33 PM (8 years, 9 months ago)

Lower silver to me just means more to buy. Doubling our holdings at 10 an ounce still stands. If it got down to five I'd double down again, or more, I'm taking this in stride even if it sounds delusional. People will always want gold and silver.


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InvisibleLunarEclipse
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Re: Bottom Finally In For Silver? [Re: Adden]
    #21581438 - 04/22/15 06:35 PM (8 years, 9 months ago)

Quote:

TEMPLAR PALADIN said:
Lower silver to me just means more to buy. Doubling our holdings at 10 an ounce still stands. If it got down to five I'd double down again, or more, I'm taking this in stride even if it sounds delusional. People will always want gold and silver.




First support is 15.20 area, if that fails it will be a retest of the wacky "V" bottom day that hit a low of 14.09 for a very brief time on a Sunday night/early Monday before the stock market opened.  As I recall the cash/spot that day hit that the clairvoyant projection I made months before of 14.78.


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InvisibleThe Phleg
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Re: Bottom Finally In For Silver? [Re: LunarEclipse]
    #21581845 - 04/22/15 08:17 PM (8 years, 9 months ago)

Do you keep an eye on anything particular that effects the silver market?


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InvisibleLunarEclipse
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Re: Bottom Finally In For Silver? [Re: The Phleg]
    #21583299 - 04/23/15 07:33 AM (8 years, 9 months ago)

Quote:

The Phleg said:
Do you keep an eye on anything particular that effects the silver market?




I watch the USD closely because silver is being quoted in dollars (for me).  I also look at the technicals/charts on silver going back 10 years.  I believe "the news" always comes out in the charts first.


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Re: Bottom Finally In For Silver? [Re: LunarEclipse]
    #21585935 - 04/23/15 01:26 PM (8 years, 9 months ago)

I wound up selling my silver last year. I needed the money and glad I did. I still think it's a great investment but it just keeps dropping. I own a few stocks in silver/gold mines so we will see how those pay out. I am a long term holder of stocks. Well at least until it's too good to not sell..


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InvisibleLunarEclipse
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Re: Bottom Finally In For Silver? [Re: Gorlax]
    #21586052 - 04/23/15 01:58 PM (8 years, 9 months ago)

Quote:

Gorlax said:
I wound up selling my silver last year. I needed the money and glad I did. I still think it's a great investment but it just keeps dropping. I own a few stocks in silver/gold mines so we will see how those pay out. I am a long term holder of stocks. Well at least until it's too good to not sell..




Unfortunately, the gold and silver market are truly "in the hands" of a very few in terms of pricing.  The paper ETFs have made the physical market a bit of an almost afterthought.  As to why it keeps dropping, partly it's a bit rigged by the likes of JPM and LBMA and Comex and the big bankers as in City of London/Vatican folks that pretty much set the daily price.  The "good news" is that eventually unless "they" make holding it illegal, the price of silver in particular seems destined to bottom based on the massive QE programs in Europe, Japan, China, and not long ago the US.  Negative interest rates out to 8-10 years on German bonds seems surreal to me.  Artificial.  The pundits keep acting like it's a big deal that rates on the 10 year doubled from 8 lousy basis points to 16 still lousy basis points.


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Invisiblememes
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Re: Bottom Finally In For Silver? [Re: LunarEclipse]
    #21586245 - 04/23/15 02:50 PM (8 years, 9 months ago)

Quote:

LunarEclipse said:
The pundits keep acting like it's a big deal that rates on the 10 year doubled from 8 lousy basis points to 16 still lousy basis points.



qfmft


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OfflineOil Field Trash
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Re: Bottom Finally In For Silver? [Re: LunarEclipse]
    #21597403 - 04/25/15 11:53 PM (8 years, 9 months ago)

When do you think WTI will come back up?
There are still way to many stacked rigs out here in the Permian basin
The stacking of rigs out here has not affected me much at all
It did make me take a %15 pay cut but mainly ran off all the non technical guys
It was kinda nice because it ran off all the dumb fuckers that do not make the company much money
The creme always rises to the top in hard times:snowman:


--------------------
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InvisibleLunarEclipse
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Re: Bottom Finally In For Silver? [Re: Oil Field Trash]
    #21598201 - 04/26/15 07:42 AM (8 years, 9 months ago)

Quote:

Oil Field Trash said:
When do you think WTI will come back up?
There are still way to many stacked rigs out here in the Permian basin
The stacking of rigs out here has not affected me much at all
It did make me take a %15 pay cut but mainly ran off all the non technical guys
It was kinda nice because it ran off all the dumb fuckers that do not make the company much money
The creme always rises to the top in hard times:snowman:




"There are still too many stacked rigs out here..."

You said it.  Not for a while.  If anything, it's had a huge short covering rally/dead cat bounce and is going to go back to the 40s from what I see on the technical side.  Fundamentally, there was no reason for a big bounce, nothing has changed in terms of supply, and demand seems quite muted as well.  China is a mess, a real mess, folks don't realize it, but it's not going to end well in China, and their real estate bubble is already bursting.


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InvisibleLunarEclipse
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Re: Bottom Finally In For Silver? [Re: LunarEclipse]
    #21616527 - 04/30/15 07:12 AM (8 years, 8 months ago)

Update 4/30.  The USD has been in a nosedive mode for the past few days but appears to have bounced off of 95 as silver just dropped 60 cents in about an hour after hitting 16.70.  Now back to 16.

Oil has been punishing those who dared short it and those long the USD.  At nearly 60 on the WTI one would think this short covering rally/punishment may be over given the supply/demand fundamentals on oil are still negative, and the USD correction might be over.


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Anxiety is what you make it.


Edited by LunarEclipse (04/30/15 07:19 AM)


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InvisibleLunarEclipse
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Re: Bottom Finally In For Silver? [Re: LunarEclipse]
    #21675007 - 05/13/15 03:07 PM (8 years, 8 months ago)

Quote:

LunarEclipse said:
Update 4/6/15.  Dollar index DXY came off its parabolic surge to 100 and back to 96.6.  Oil back over 50 at 50.14 on the WTI.  Silver now at intermediate resistance area of 17.20 and up 2.5% today on the weak dollar.  Euro back to 1.10 level.




Update 5/13/15.  DXY = 93.67, WTI = 60.14, Silver now back to intermediate resistance area at 17.20 and up 3.5% today on the weak dollar.  Euro now at 1.13 level.

Well, so much for the "strong dollar", at least recently.  The chart on the USD is really not looking that great.  The failure at approaching 100 on the double top and failure at 95 area as well bears watching.  We are at a tipping point, if the dollar further weakens here it could get interesting.  Rates on the 10 year meanwhile are at the 2.30 level so perhaps resistance?


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Invisiblememes
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Re: Bottom Finally In For Silver? [Re: LunarEclipse]
    #21699800 - 05/19/15 07:32 PM (8 years, 8 months ago)



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InvisibleLunarEclipse
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Re: Bottom Finally In For Silver? [Re: LunarEclipse]
    #21798532 - 06/12/15 04:59 PM (8 years, 7 months ago)

Quote:

LunarEclipse said:
Quote:

LunarEclipse said:
Update 4/6/15.  Dollar index DXY came off its parabolic surge to 100 and back to 96.6.  Oil back over 50 at 50.14 on the WTI.  Silver now at intermediate resistance area of 17.20 and up 2.5% today on the weak dollar.  Euro back to 1.10 level.




Update 5/13/15.  DXY = 93.67, WTI = 60.14, Silver now back to intermediate resistance area at 17.20 and up 3.5% today on the weak dollar.  Euro now at 1.13 level.

Well, so much for the "strong dollar", at least recently.  The chart on the USD is really not looking that great.  The failure at approaching 100 on the double top and failure at 95 area as well bears watching.  We are at a tipping point, if the dollar further weakens here it could get interesting.  Rates on the 10 year meanwhile are at the 2.30 level so perhaps resistance?




Update 6/12/15.  Silver failed on it's "head test" at 17.30 range and is now at 16.  Intermediate support is at 15.60.  WTI is 60, DXY is 95, euro at 1.13.

Unless Greece somehow pulls euros out of their collective behinds, it appears we may finally be nearing a "Grexit".  Germany's Merkel has stated she wants a lower euro, she may see her wishes come true.  Look for the euro to go back to 1.08, and the DXY to strengthen to 98.  Silver should fail support at 15.60 on its way to a 14 handle...


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InvisibleAdden
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Re: Bottom Finally In For Silver? [Re: LunarEclipse]
    #21799530 - 06/12/15 08:49 PM (8 years, 7 months ago)

The people who hoarded at its peak are probably dying right now.


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InvisibleThe Phleg
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Re: Bottom Finally In For Silver? [Re: Adden]
    #21799536 - 06/12/15 08:52 PM (8 years, 7 months ago)

:evil2:


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InvisibleLunarEclipse
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Re: Bottom Finally In For Silver? [Re: Adden]
    #21800912 - 06/13/15 06:19 AM (8 years, 7 months ago)

Quote:

Dys said:
The people who hoarded at its peak are probably dying right now.




Real believers in silver like to toss around the hundred dollar an ounce figure as a reason that them buying at 50 was smart.  A guy I know used to think I was nuts for buying at 12 before it went to 50 and back to 16 now.  Now he thinks I'm nuts for not buying all the way down.  He started lecturing me about it the other day and I just walked away.

This much we can say with certainty, when paper money gets devalued by excessive debt and derivatives, and it WILL, silver will still be silver.  Nothing will have changed, an ounce will still be an ounce of .999 pure silver...


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InvisibleStonehenge
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Re: Bottom Finally In For Silver? [Re: LunarEclipse]
    #21802356 - 06/13/15 12:24 PM (8 years, 7 months ago)

I picked up about 100 oz of silver when it was around 22, not a great move in hindsight but it will go back up. My last buy of gold at nearly 1300 also looks weak but it too will go up. Trying to time the market is a fools errand, buy and hold. If your long term analysis is correct, you will win.

I pity the retirees who thought 50k in the bank plus ss and a small pension would keep them on easy street. The pension turns out to be under funded, ss is not going to keep up with inflation and the 50k slowly turns to wastepaper.


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

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