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main1event
13th November 2008, 10:12
Looks like a reversal in Gold and Silver is happening right now. Keep your stops at todays lows. One of the best trading opportunities we've had in weeks.

goldragon
13th November 2008, 10:44
I would wait for a while to see if this is really the turning point, then get in. I think it might be too early. But I can be wrong and I have been always wrong for the most of the time!
As I wrote yesterday we should test the OCT. low before 21st. This time the low can be higher, lower or just the same as that in OCT.

main1event
13th November 2008, 10:59
We are testing the low. We are also testing the low of the stock market. The other low you are referring to happened intraday. If we test that low we will go lower.

Goldragon, there are certain places where you take calculated risks because if it falls below that area you should have tight stops. If we took your approach and see what happens, which is pretty conservative, you'll always be waiting. Do you buy tomorrow if Silver goes $.25 higher or do we wait for another day. Do we wait until it goes up another $.50 the next day? Then when it goes higher yet, do we wait for a pullback?

You have to take calculated risks. The dollar seems to be forming a double top, the SLV filled the gap at 9.05. So far its holding, which is an enormous plus. Now if it falls through 8.90 you can sell with only a minor loss.

goldragon
13th November 2008, 11:05
main1event,
you maybe right. my feeling tells me that usd may reach 90. this is why i am still hesitated. i might be wrong. anyhow, we are at bottom. couple of cents are not a big deal. this remind me to use dollar cost average at this level. maybe i should got in.

main1event
13th November 2008, 11:16
You could be right :)

main1event
13th November 2008, 11:22
I'm just looking at it from a trading perspective, taking a calculated risk with an entry and exit strategy. I've been saying for a while that I thought 9.05 gap would be filled. Now thats its filled I'm in but if 8.85 is broken I'll be out with a small loss and to be honest with you I'm not sure I'll try a reentry in the SLV if that is broken.

This market is literally on the edge, we could crash from this level. The Dow is looking over the precipice. As I write this I see silver is hitting todays lows. Hopefully 8.90 will hold but at this point I'm starting to get pretty pessimistic.

Diving Goose
13th November 2008, 11:37
Certainly exciting for for a newb like myself. My eyes have been glued on CNN and the stock market quotes. Thank you fellas for openly discussing your opinions .....i'm learning the ropes and terminology fairly quick. Hopefully i will grow big enough jewels to make a dip in and see what happens....
9.08

main1event
13th November 2008, 11:53
Here is a chart to illustrate the gap that I'm talking about and now that its now filled.

http://i450.photobucket.com/albums/qq225/main1event/sc.jpg

main1event
13th November 2008, 11:57
One of the negative factors going for silver is that the stochtastics are not fully sold but we are close to the lower bollinger band.

Just another nail biter :)

goldragon
13th November 2008, 11:58
main1event.
My gut feeling is that we may go lower. There are too much bullish emotion in goldbugs campus. Everyone is worrying about missing the bottom, thus they would like to enter earlier. I did the same for several times, the results were catching falling knifes because low price can go even lower in a bear market. I was hurt very deep. This time, I will wait to see if the market is really bottomed out and a solid rally is in the action. Then I get in. I may miss couple of 10 cents, even one dollar, but I am with the trend. I will feel much better because I will not see the red number in my account. Today SLV is forming a flag around $9.00, thus next step maybe go down to $8.00s.
However, nobody can tell tomorrow where is SLV price before it reverses. Thus I would look for a trend formation for SLV.

mick silver
13th November 2008, 12:14
untill the dollar start to drop in vaule silver well go lower. our government going help the seller of paper silver

goldragon
13th November 2008, 12:19
main1..
I did looked carefully on your chart. My feeling is SLV is in a down trend, there is no any sign to tell me that the trend is going to reverse. I know the gap was filled, so what? this will mean it will go up. Sorry to keep different view with my friend, main1event.

Diving Goose
13th November 2008, 12:21
main1event.
Today SLV is forming a flag around $9.00, thus next step maybe go down to $8.00s.
However, nobody can tell tomorrow where is SLV price before it reverses. Thus I would look for a trend formation for SLV.


Your prediction may come true !!!!

main1event
13th November 2008, 12:26
Goldragon,

Of course its easy to keep predicting that silver will go down because it is in a downtrend. Silver will not be in an uptrend until it surpasses 12 or 13. Is that the place where you will be buying.

As I write this my sell target has been reached. If 8.84 is reached I'll be out.

main1event
13th November 2008, 12:29
I'm going to start planning my exit strategy now. Its time to call up all non descretionary expenses like cell phones, cable, and everything and reduce your costs as much as possible. Something wicked this way comes.

mick silver
13th November 2008, 12:31
silver hits 9.05 . down 56 cents this morning

goldragon
13th November 2008, 12:44
main1event,
tell you the truth I am going to buy gold silver and their stocks using all my investing money after this sell-off. However, I have to see the bottom of this market. My target will be below $9.00, maybe $8.00 or little bit higher. but I have to see the bottom formation, for example, morning star or other patterns.

main1event
13th November 2008, 13:09
main1event,
tell you the truth I am going to buy gold silver and their stocks using all my investing money after this sell-off. However, I have to see the bottom of this market. My target will be below $9.00, maybe $8.00 or little bit higher. but I have to see the bottom formation, for example, morning star or other patterns.

Just your indecision of where to buy tells me you'll always be questioning yourself.

mick silver
13th November 2008, 13:14
it below 9.00 it 8.96 good luck

silverheartbone
6th December 2010, 07:10
Looks like a good one to bump.

http://www.kitco.com/hist_charts/silver/24_hours/2008/ag11132008.gif

silverheartbone
6th December 2010, 07:17
http://www.kitco.com/hist_charts/silver/24_hours/2008/ag10122008.gif

jimi
6th December 2010, 08:59
What is your point, silver meteored on October 12, 2008?

gollumthegreat
6th December 2010, 14:44
What is your point, silver meteored on October 12, 2008?

Maybe he means after/or around that time, when people were shitting their pants, those charts were just illustrating the absurdity of the price of Silver as is fixed by TPTB/TPTW.

silverheartbone
6th December 2010, 16:38
What is your point, silver meteored on October 12, 2008?

Maybe he means after/or around that time, when people were shitting their pants, those charts were just illustrating the absurdity of the price of Silver as is fixed by TPTB/TPTW.
Exactly.
How sheeple could accept the value of silver falling by 20% in hours is still beyond me.
As a poor student at the time, I was buying all I could.
Even after seeing the drops, I never doubted silver's worth for one second.

valerb
6th December 2010, 18:07
Exactly.
How sheeple could accept the value of silver falling by 20% in hours is still beyond me.
As a poor student at the time, I was buying all I could.
Even after seeing the drops, I never doubted silver's worth for one second.

I was all done buying Silver, had my stash and I jumped back into the market to buy some more at those bottom feeding prices. I haven't bought any since, but if we have another major crash like that again, I'll be buying even more next time.

silverheartbone
8th December 2010, 10:29
I was all done buying Silver, had my stash and I jumped back into the market to buy some more at those bottom feeding prices. I haven't bought any since, but if we have another major crash like that again, I'll be buying even more next time.

They are working on it.

http://www.kitco.com/images/live/silver.gif

From $ 30.70 to 28.12 in 26 hours.
Either they finally got to that meteor site and found much more than previously imagined,

http://tomsastroblog.com/images/norway61206.jpg

or the almighty dollar is doing its thing.

http://www.weblinks247.com/indexes/idx24_usd_en_2.gif

At this rate in two weeks I'll have to pay someone to take my silver.

S1lverBullet
8th December 2010, 10:42
It'll come back just as fast as it went down.

silverheartbone
8th December 2010, 11:06
It'll come back just as fast as it went down.

I do not think so.

There were about 19,000,000 shares traded during the first hour.

The longs actually have to earn their side of the trade.

19,000,000 * $29 plus the fees that they have to also pay that the insider shorts don't.

That's over 1 half billion FRNs of earnings from the longs
as opposed some party merely flipping a few switches on the clearly naked short side.

valerb
8th December 2010, 16:53
They are working on it.

http://www.kitco.com/images/live/silver.gif

From $ 30.70 to 28.12 in 26 hours.
Either they finally got to that meteor site and found much more than previously imagined,

http://tomsastroblog.com/images/norway61206.jpg

or the almighty dollar is doing its thing.

http://www.weblinks247.com/indexes/idx24_usd_en_2.gif

At this rate in two weeks I'll have to pay someone to take my silver.

Thanks for looking out for me Bone, but I meant a real crash, as in single digits.

I've been saving up for the Derivatives to cave in and wipe out everything and I'll be looking at ten year old prices once again, The problem is, which is going to fail first, the Dollar or the derivatives. Think of it this way. If I buy today, I can only get about $3,000 ounces and still have a decent safety nest. On the other hand, if the derivatives fail first, I might be able to buy as many as 15,000 to 20,000 ounces for the same dollars. So my real gamble is, do I buy now and only get 3,000 ounces or gamble and maybe add 15,000 to 20,000. I'll bail out of the dollar as long as it doesn't crash overnight, which I'm sure it won't. I took a huge gamble on Silver when is was dead weight and it has worked out very well. Now I'm playing Russian Roulette between the Dollar and Derivatives. If they both crash, I'm still well off with my Silver, but if Silver goes with them, then I'm about as screwed as you can get. With the sole exception that I still own my home. I may not be able to pay the property taxes on it, but if I'm that broke, then everyone will be as well.