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Albin
20th March 2008, 09:03
Well, overseas didn't hold up 18 last night, so I'm out for now. I should have listened to the wise part of me and not held overnight again. I guess I'm a glutton for punishment. 17 may very well hold and could have been the perfect entry point, but I just can't tell, and there isn't a good indicator that the selloff is done.

I think you can basically throw technical analysis out the window at this point, but looking at the chart, we blew threw several layers of support this week.

The Gold : Silver ratio also overshot the gap last night and may not recover - if it does not, we may actually lose support at 16 and go down to long-term support at 14. Or we could just as easily hold 17, regain the gold:silver ratio and bounce right back to 18 today if the gap is really closed and the uptrend resumes. I just don't know. I wish I did.

I'll look for support later and perhaps come back into the market. But if I think the run is over (maybe is, maybe not), then I'll have to find some other place for my 401k money.

Given my record this week, expect my trade to be the opposite of the right thing : meaning Silver will hold 17 and bounce right back up to 18. Over Easter weekend, everyone calms down and the run continues.

But, I'm cutting my losses at the moment. Heads I win, tails I lose not too much ... this time it was tails.

Barbaric Relic
20th March 2008, 11:37
OK then if you do find a better place to park your dough please let us know.
Cash will get eaten by inflation, stocks , ug , realestate looking shaky.
Just where in the world is moneysafe and secure without evaporating, there is no where at the moment that I know of.

prahudka
20th March 2008, 11:49
Well, overseas didn't hold up 18 last night, so I'm out for now. I should have listened to the wise part of me and not held overnight again. I guess I'm a glutton for punishment. 17 may very well hold and could have been the perfect entry point, but I just can't tell, and there isn't a good indicator that the selloff is done.

I think you can basically throw technical analysis out the window at this point, but looking at the chart, we blew threw several layers of support this week.

The Gold : Silver ratio also overshot the gap last night and may not recover - if it does not, we may actually lose support at 16 and go down to long-term support at 14. Or we could just as easily hold 17, regain the gold:silver ratio and bounce right back to 18 today if the gap is really closed and the uptrend resumes. I just don't know. I wish I did.

I'll look for support later and perhaps come back into the market. But if I think the run is over (maybe is, maybe not), then I'll have to find some other place for my 401k money.

Given my record this week, expect my trade to be the opposite of the right thing : meaning Silver will hold 17 and bounce right back up to 18. Over Easter weekend, everyone calms down and the run continues.

But, I'm cutting my losses at the moment. Heads I win, tails I lose not too much ... this time it was tails.

NO NO NO

The Bear, I mean the silver, is fine. Don't move your money from bear, I mean silver. Don't be silly.

http://www.youtube.com/watch?v=gUkbdjetlY8

Just kidding.

Actually, I would be buying from you buddy, in a heartbeat.

Albin
20th March 2008, 20:50
NO NO NO

The Bear, I mean the silver, is fine. Don't move your money from bear, I mean silver. Don't be silly.

http://www.youtube.com/watch?v=gUkbdjetlY8

Just kidding.

Actually, I would be buying from you buddy, in a heartbeat.

Well, somebody made some money off me this week - most of it went to the big players, I'm sure. My only mistake was not letting my first stop put me out, and I tried to catch the falling knife. Indicators were telling me to short it like everyone else, but I had so much hope - partly fueled by the silver lovers on the web.

Anyway, I contacted a local coin dealer today and may visit him tomorrow. Start buying some physical. With tax season approaching, I don't have much cash on hand, however, so it'll be small increments over time.

You guys have convinced me that holding physical silver is a good idea. I may still play the ETF, but everything is so volatile, I may just decide to sit out unless the price (and trend) become safer.

The point and figure for Gold has turned bearish with a long tail down, and forecast has actually moved down from 850 yesterday to 780 today. But, as we know, anything can happen... this market can now turn on a dime depending on news.

prahudka
20th March 2008, 21:30
Well, somebody made some money off me this week - most of it went to the big players, I'm sure. My only mistake was not letting my first stop put me out, and I tried to catch the falling knife. Indicators were telling me to short it like everyone else, but I had so much hope - partly fueled by the silver lovers on the web.

Anyway, I contacted a local coin dealer today and may visit him tomorrow. Start buying some physical. With tax season approaching, I don't have much cash on hand, however, so it'll be small increments over time.

You guys have convinced me that holding physical silver is a good idea. I may still play the ETF, but everything is so volatile, I may just decide to sit out unless the price (and trend) become safer.

The point and figure for Gold has turned bearish with a long tail down, and forecast has actually moved down from 850 yesterday to 780 today. But, as we know, anything can happen... this market can now turn on a dime depending on news.

That's the point. Its just news.

What is fundamentally so much better now in the economy?

BmR
20th March 2008, 22:33
That's the point. Its just news.

What is fundamentally so much better now in the economy?
exactly nothing! you gotta stop listing to fox news they are fucking with your brain

prahudka
21st March 2008, 06:13
exactly nothing! you gotta stop listing to fox news they are fucking with your brain

Hahaha Faux news

Indeed.

Listen to Goldseek radio for Friday (last Friday, not today): "you cant see a 300 run on gold without a 100.00 correction" Historically, this is he consolidation under a much bigger run.

paker
21st March 2008, 16:30
Just called my dealer and he still has silver. Only 1 oz bars, but what the hey. Silver is silver. I'll pick up some more tomorrow.