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There goes the $28 support
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Thread: There goes the $28 support

  1. #1
    Join Date
    Jul 2010
    Location
    Gouda, Netherlands
    Posts
    73

    Default There goes the $28 support

    I went long too soon expecting that the $28 dollar support was too strong. I held a $28 dollar stoploss and so minutes later I closed my position with a 4000,- loss ... I think it can fall back to about $26

    Anyone else have an opinion on the subject ?

  2. #2
    Join Date
    Dec 2010
    Location
    Orlando, FL
    Posts
    187

    Default

    If it breaks through $27.50 I wouldn't see support until $25. That's just my perspective, and I'm not a market trader...just looking for where physical buys are a "value"
    Last edited by orlando_wrx; 20th January 2011 at 09:43.

  3. #3
    Join Date
    Jul 2010
    Location
    Gouda, Netherlands
    Posts
    73

    Default

    Oke, yeah well I think the chance that 27,50 will fall is pretty big I think.. $28 was a stronger support so I think it can go quite fast from here on.

  4. #4
    Join Date
    Dec 2008
    Location
    Zionot, Squashkenazi
    Posts
    11,581

    Default

    I hope it (paper silver) goes to zero.
    "I foresee little future in 'the price of silver', I see a huge future for 'the price in silver'." - heartbone
    "The truth is called hate by those who hate the truth." - K

  5. #5
    Join Date
    Nov 2010
    Posts
    245

    Default

    the sooner we consolidate the faster we bounce back hope your all buying right now while we are f'ing around in the high 20s

  6. #6
    Join Date
    Jul 2010
    Location
    Gouda, Netherlands
    Posts
    73

    Default

    when the price touches or goes near $26 .. I will go full long with $130.000, blast off ... except when bernanke comes with a new "Push the dollar into hyperinflation" plan then I won't wait for the price to drop further

  7. #7
    Join Date
    Nov 2010
    Posts
    245

    Default

    lol yeah as soon as QE2 is over in March then the game will be on, because the FED will either have to have QE3 to keep the DOW in a bull run, plus we vote on the debt ceiling in March. That month will be a very interesting one in deed. IMHO the FED has no choice. It's either withdraw it's support and have the markets free fall or expand the money printing and eventually have inflation when it finally reaches our shores. The markets (especially the Nasdaq) and the dollar have both been in free fall the past few days, when does this finally start to affect and turn around the PM market? You can't tell me all this manipulation will hold the commodity markets down forever.
    Last edited by S1lverBullet; 20th January 2011 at 09:53.

  8. #8
    Join Date
    Jul 2010
    Location
    Gouda, Netherlands
    Posts
    73

    Default

    yeah exactly,, and the beauty of it all is:

    Whether they withdraw and let the stockmarkets fall, or they fcku up by sending the dollar into a "Zimbabwe status" Silver will skyrocket as a safe harbor.

  9. #9
    Join Date
    Jul 2010
    Location
    Gouda, Netherlands
    Posts
    73

    Default

    jezus we are in a freefall here... I shut down my short position this morning when it was @ -2,00 % .... if I had waited, my profit would be a staggering 12.000 EURO higher

  10. #10
    Join Date
    Nov 2009
    Posts
    166

    Default

    as Mike Maloney put it in the past couple of days, don't pay attention to the short term noise

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