silverstash
7th February 2008, 16:16
I am hoping to start a thread of interest to the market technician, silver investor, or if you just have been biten by a silver bug and would like to share/learn, of course just for educational purposes.
I have been a chartist for at least 15 years, but not necassarily much to do with silver. I have looked at many technical indicators, RSI, Stochastics, MACD, etc. All this is good, but personally rattles my cage a bit. And anyone who likes to hold silver for a long time, these indicators aren't of much use imho. Case in point, When the market is overbought, usually tells us a pullback is coming.......Except when the markets are ready for a really big move! Then these indicators let you down. Just an example of why i only give so much credit to these.
Recently seen some other fine indicators........reach 130 on this index and bull market is over.
Biggest problem I have is most indicators are for a certain cycle of a certain magnitude. If some believe that the silver market is gonna have a really sizeable move, then these indicators may not be useful, or may actually get you out of a market early, if you are interested in the timing of when might be best to get the best return on your investment.
I personally like to draw lines from point to point.......I done this with my adjustable protactor for years.
I come to realize.......the markets are not random, there are good indicators for timing, (astrology is good) and the behavior of all those ups and downs can be understood, well somewhat. After all, it all makes sense to me in hindsite!:cool: And I think there are exact points, (the market will reach an exact point on an exact hour) but can be like finding a needle in a haystack. (This is IMHO, you may not agree, and that is fine, but I have seen it happen often)
I'm headed for a point, but that comes later.
What about the really big ups and downs. If I absolutely knew where silver would go and when it would get there, that would be good to throw out right here.......wouldn't it?
I like the way a pure wave theorist thinks, there is usually an alternate, which, by the way, is usually the oposite direction.....(Can't be wrong this way, lol), not really but poking fun.
I like to measure the potential of a move as it is underway....that is what all my mistakes have taught me anyways. Remember, just when you are on to a particular price at a particular time, and more become aware of it, the market seems to do something different, eh? But being flexible in one's forecast is good.
Okay, my point.....Anybody want to share their favorite technical site or information site on the silver market:?:
Anybody want to share where they think the market is headed:?:
Be prepared to at least back it up with some type of reasoning, besides the US economy tanking........I think we all agree on that one, if not, shake the sand off when you pull your head out.
It's been my experience that no market goes to the moon, so if you believe $8,000 an ounce, probably you won't serve anyone well.
I have missed big moves before, so with my raw science of protactor and pencil and a long term chart, I begin to look for potential moves........I'll share my forecast for a later post, or privately, but would love to hear others or maybe you would just like to share your best resource for technical information.
God Bless All
Joe
I have been a chartist for at least 15 years, but not necassarily much to do with silver. I have looked at many technical indicators, RSI, Stochastics, MACD, etc. All this is good, but personally rattles my cage a bit. And anyone who likes to hold silver for a long time, these indicators aren't of much use imho. Case in point, When the market is overbought, usually tells us a pullback is coming.......Except when the markets are ready for a really big move! Then these indicators let you down. Just an example of why i only give so much credit to these.
Recently seen some other fine indicators........reach 130 on this index and bull market is over.
Biggest problem I have is most indicators are for a certain cycle of a certain magnitude. If some believe that the silver market is gonna have a really sizeable move, then these indicators may not be useful, or may actually get you out of a market early, if you are interested in the timing of when might be best to get the best return on your investment.
I personally like to draw lines from point to point.......I done this with my adjustable protactor for years.
I come to realize.......the markets are not random, there are good indicators for timing, (astrology is good) and the behavior of all those ups and downs can be understood, well somewhat. After all, it all makes sense to me in hindsite!:cool: And I think there are exact points, (the market will reach an exact point on an exact hour) but can be like finding a needle in a haystack. (This is IMHO, you may not agree, and that is fine, but I have seen it happen often)
I'm headed for a point, but that comes later.
What about the really big ups and downs. If I absolutely knew where silver would go and when it would get there, that would be good to throw out right here.......wouldn't it?
I like the way a pure wave theorist thinks, there is usually an alternate, which, by the way, is usually the oposite direction.....(Can't be wrong this way, lol), not really but poking fun.
I like to measure the potential of a move as it is underway....that is what all my mistakes have taught me anyways. Remember, just when you are on to a particular price at a particular time, and more become aware of it, the market seems to do something different, eh? But being flexible in one's forecast is good.
Okay, my point.....Anybody want to share their favorite technical site or information site on the silver market:?:
Anybody want to share where they think the market is headed:?:
Be prepared to at least back it up with some type of reasoning, besides the US economy tanking........I think we all agree on that one, if not, shake the sand off when you pull your head out.
It's been my experience that no market goes to the moon, so if you believe $8,000 an ounce, probably you won't serve anyone well.
I have missed big moves before, so with my raw science of protactor and pencil and a long term chart, I begin to look for potential moves........I'll share my forecast for a later post, or privately, but would love to hear others or maybe you would just like to share your best resource for technical information.
God Bless All
Joe