Silver price stabilizing?

[Paul]

There seems to be some settling of the runaway Silver price of the last few days. Maybe we'll settle somewhere around the $15-$16 range?

It wasn't long ago that $15 seemed a distant dream and now we've reached and comfortably surpassed it it's not that exciting anymore, almost routine. Now everyone is watching $16.

Maybe we need the price to sit somewhere between $15 and $16 for a while so that the nerves are settled and we can set off from base camp again and aim for $20.

[MasterQ]

You might be closer than you think.

I'm looking for pullback to 15.65 today and as long as we stay above 15.17 and 15.45 resistance levels we will still head to 16.

Some are looking for a major correction to the 18 day average which was 14.52 or so yesterday but with the instability of the dollar and embedded stochastics I think we are long ways away from that type of correction.

-Q

[cowboycarl04]

Wow look at the violent swings the past 1.5 days.

Up $0.70, then down $0.90 in very short order... I've been following prices for a year, and I don't think I've seen something like this yet.

[fullsafe]

You might be closer than you think.

I'm looking for pullback to 15.65 today and as long as we stay above 15.17 and 15.45 resistance levels we will still head to 16.

Some are looking for a major correction to the 18 day average which was 14.52 or so yesterday but with the instability of the dollar and embedded stochastics I think we are long ways away from that type of correction.

-Q
It never fails to amuse me how some people love to stick their necks out to make it so easy to chop it off!
A typical correction will take silver to the high 13's and gold to sub 930 , but there is no typical paradigm any more. TA is simply dangerous in this type of environment.
Never under estimate the influence of the Fed and their partners in crime! They will talk up the market and the economy and with the assistance of the media , short term predictions should be recognised for what they are--GUESSES!

[kilikili]

Pullback for another day or two and then skyrocket IMO.

[MasterQ]

Pullback for another day or two and then skyrocket IMO.

I believe so too.

We are far from any economic recovery, job losses, inflation fears quelched.

At least I'm on the right end NOT shorting the market this time.

I think we see 18.50 before July 31st.

-Q

[Katwoman]

We could settle in here and continue moving sideways for a while but I think the pullback today had more to do with the selling of ETFs bundled with mutual funds etc. than it did with the price of silver as the DOW also dipped big time. I fully expect silver could actually rally tomorrow as more investors frustrated with stocks move into the safety of PMs. At this point it must be evident to more than just a handful of people that PMs back to their previous highs while the stocks are still in the toilet.

[SilverLite]

I'm new to PMs and when I speak about Silver/Gold to my collegues at work they just dismiss commodities as being some 'dirty' thing... Stupid people I tell you. They just invest in stock (tech, microsoft, apple, GM... lol) and fiat.

I mean its not that hard to see the results of keeping your apples in one basket right...not much to show if your stock suddenly deadlines. My friend gave me grief when silver dropped to $8...he's not saying anything now that its almost $16.

Honestly, why don't more people invest in PM?

[Katwoman]

We could settle in here and continue moving sideways for a while but I think the pullback today had more to do with the selling of ETFs bundled with mutual funds etc. than it did with the price of silver as the DOW also dipped big time. I fully expect silver could actually rally tomorrow as more investors frustrated with stocks move into the safety of PMs. At this point it must be evident to more than just a handful of people that PMs back to their previous highs while the stocks are still in the toilet.


It looks like the buyers are back after yesterdays sell off. Like I said, it seems to me that the fundamentals remaining bullish the sell off yesterday was most likely related to ETFs tied in with mutual funds.

I do not think we will see $16 today but we could break through again tomorrow.

[MasterQ]

It looks like the buyers are back after yesterdays sell off. Like I said, it seems to me that the fundamentals remaining bullish the sell off yesterday was most likely related to ETFs tied in with mutual funds.

I do not think we will see $16 today but we could break through again tomorrow.

We need to close above 15.47.....oh...hmm....guess that is in the bag....um..

Ok 15.80 by tomorrow and 16 monday? (for close)

-Q

[MasterQ]

We need to close above 15.47.....oh...hmm....guess that is in the bag....um..

Ok 15.80 by tomorrow and 16 monday? (for close)

-Q

Wups...just hit 15.83...I'll keep quiet now :P

[cowboycarl04]

Strangest week I've seen for silver yet. It's like a klepto's dream week....

[fullsafe]

It never fails to amuse me how some people love to stick their necks out to make it so easy to chop it off!
A typical correction will take silver to the high 13's and gold to sub 930 , but there is no typical paradigm any more. TA is simply dangerous in this type of environment.
Never under estimate the influence of the Fed and their partners in crime! They will talk up the market and the economy and with the assistance of the media , short term predictions should be recognised for what they are--GUESSES!

Perhaps now we might see some stability!

[Katwoman]

This is it, the pull back has officially occurred and we can now expect to settle in for summer at around $14 as predicted by the long term TA. Since we have not had any major news to drive silver up or down everything we have just witnessed is due many to normal movement the fundamentals and is consistent with the continuation pattern we are in. Unless something really crazy happens I would not expect silver to do much over the next month or two......but then again I do not have a crystal ball and s people keep telling me this summer could be different!!

[Relayer]

Today, 19:18
Relayer
Senior Member
Forum Contributor

I just posted this to Prospector who said "The current lull is the summer doldrums because it happens every summer".


Lets review silvers recent history.....

2008 Price $16-$19 (18.75%) May to July, $19-$13 (31.5%) July to Sept

2007 Price $13.50-$12.75 (5.5%) May to Sept

2006 Price $14-$9.75 (30,3%) May to June, $$9.75-$13.50 (38.4%) June to Sept

2005 Price $6.90-$7 (1.4%) May to Sept

2004 Price $5.50-$6.75 (22.7%) May to July, $6.75-$6.15 (8.8%) July to Sept

2003 Price $4.80-$5.10 (6.2%) May to Sept

2002 Price $4.60-$5.15 (11.9%) May to July, $$5.15-$4.40 (14.5%) July to Sept

2001 Price $4.65-$4.20 (9.6%) May to Sept

It would appear that maybe 4 years out of the last 8 could be called the summer doldrums.

2009 Price $12.50-$15.75 (26%) May to June , $16-$14 (12.5%) June to ?

Summer has a way of making people sleepy!

[Katwoman]

You really should look at rpice from June 21st to labor day since this is when the kids are out of school and this is the official "summer".

[MasterQ]

This is it, the pull back has officially occurred and we can now expect to settle in for summer at around $14 as predicted by the long term TA. Since we have not had any major news to drive silver up or down everything we have just witnessed is due many to normal movement the fundamentals and is consistent with the continuation pattern we are in. Unless something really crazy happens I would not expect silver to do much over the next month or two......but then again I do not have a crystal ball and s people keep telling me this summer could be different!!

At around..what a convenient way to encompass a whole point of movement.

I guess I could say I will make 1-100,000 this year in silver and be pretty accurate.

So what say you when we keep dropping for no damn reason other than your precious TA, Summer Dulldrums, whatever you have left in your prediction bag?

14's? yeah it seems those are about to be history....more like 13's for the summer.

I just can't fathom how 2 people opening thier damn mouths can cause such calamity.

THIS IS ALL DOLLAR DRIVEN NOT THE DAMN SUMMER! WAKE UP!

Sorry for the melodramatic...I'm done :P

-Q

[Prospector]

All I can say is if you don't like the silver price, just wait a minute.

[ccjoe]

Like someone said a couple days ago, anything in the 14's is great and NOW I agree. 14's are the NEW 13 to me.
Next year it will be over 20 and on up from there. I think ONE more year of this make believe that the dying patient (economy) is feeling great> because of the morphine injection (analogy)--- and then the patient will be shipped to the hospice:( and silver and gold will truly rule:)
I can't wait to hear what the omniscient Dave Ramsey, et al says ---uhuhuh-----There is a God and this buffoonery will end next year.
Peter Schiff will be elected U.S. Senator and then President with Ron Paul as his VP and then the U.S will rule again with fiat based on silver and gold:)

[dannbkk]

Wow nice chart "relayer" 2005 looked like a good year