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16553758? ago

Read you comment in december. And agreed silently. Every patriot should own some ounces of gold and especially silver. Physically. Papergold and Papersilver is not the same. Maybe we will see about 12 or 13 usd per one ounce of silver. Maybe. At the end it will rocket. All papermoney comes back to its true worth = 0. We can see the end of the financial system coming when gold and silver cannot be manipulated down anymore. So buy some coins.

16554107? ago

you are exactly right on that. The only reason I mentioned the ETFs is because those are the vehicles you use IF you wanna play futures and options. I don't personally recommend it, and I posted that I bought the physical metal, too. I will be surprised if silver goes back below $15/oz, ever, but if it does, it should be brief and part of a pretty deep Fibonacci retracement, but it could happen. I've learned the axiom about markets being able to be irrational longer than you're able to stay solvent, but I think the world central banks' record buying of gold in 2018 - the most of any year since 1967 - tells the tale. If those folks are buying it? We should too.

Obviously, the trolls on that thread don't know "You can't Fight the Fed" either, and they VOTE in actual ELECTIONS!

16565401? ago

of all analysis i prefer Elliott Waves. BigPicture counts say: --------------- GOLD: shortterm up to 1403.00 +xxx. Than we will see if there will be a last "sell off" with target @ 1,000 usd or in extreme about 700 usd. In both cases first big target upside would be 15,123 usd. --------------- SILVER: the same. shortterm up to 23.15 usd. Than we will see if there will be a last "sell off" with target @ 10.80 usd or in extreme about 7.50 usd. In both cases first big target upside would be 115 usd. ------------- EUR/USD: shortterm maybe down to 1.10 or in extreme down to 1.02. In both cases big target upside would be 2.08 --------- For me this means: "Real World" also will change in relevant way. Thank you for your answer and good luck.

16570351? ago

I know a bit about Elliott waves as well. Are you talking about the impulse wave, wave 3? I just don't have updated software as there's no reason for me to pay for a subscription when I'm not trading paper stuff just physical, and as I'm in balls deep in silver at an average of about $14.50.

On the metals, I think there's a "Trump Put" under the prices due to his war on the Fed. Lowest price in the last 10+ years is $13.46-ish.

The problem with Elliott Wave theory here is the fundamentals are soooo different than usual, as we've always had a "stable" Federal Reserve, such as it is anyway, and the Trump Put is there due to that pressure he's bringing on TO the Fed over interest rate hikes and choking the economic upturn. I think he's done a good job of awakening the public as to how they work. For one thing, when's the last time the Fed "predicted an economic downturn?" It's not their jobs. They have a "dual mandate" and neither is economic prognostication but rather the OTHER end...controlling the money supply and inflation, but as the 2008 crash proved, they have almost no "say" in how the economy actually DOES because they can only pass money out. They cannot make you spend it, so they have no control over the velocity of money. With Trump's pressure and the Fed under the microscope, the beauty of it all is Trump doesn't even have to necessarily succeed in displacing the Federal Reserve for the metals to rally...he just has to frighten enough people that buy the metals to cause prices to rise.

I appreciate the Elliott Wave stuff. I REALLY do, and thank you for reminding me of it. We're pretty obviously in a Wave 1 right now and as I see leaps up in pricing, I keep expecting that Fib RT and it really hasn't come yet...at least, nothing deep like a 62. I will have to disagree on your thinking of the lows; the Fed and others are who actually made me START thinking of buying the metals because last year I noticed sooooo many people talking down gold and silver as "passe'" or "yesterday," etc., and if I have learned one damned thing in my life, it's to listen to the powerful in government on the left, hang on every word, and assume the exact OPPOSITE of what they say to actually BE true. This served me incredibly well under the Obama administration and seems to get increasingly pertinent recently.

I know exactly what they were doing...they were trying to "talk down" prices so they could buy it at low prices. If that ain't pre-school economics, I don't know what is, ya know? But talk talk talk talk beat beat beat, and they could NOT break that 9-year low of $13.46-ish I mentioned in silver, and I'm sure you are aware that silver is generally more volatile than is gold, as it has the much smaller market cap and is easier to push around, but you can only do so much because it will not decouple from gold.

The other issue with the lows you talk about is it would push the entire market into bear territory and I just don't see that happening when I look at the fundamentals and having seen the assault on the metals last year.

ALLLL that said, I appreciate your input and you could well be correct. That's the thing about markets I keep saying...they can remain irrational longer than you can stay solvent. I'm likely going to "trade physical silver," BUT, I'm going to have to be really smart about it because of the bid:offer differences and commissions, but I'm already "up" a couple of hundred bucks on my physical purchases if I turned around and sold 'em right back to where I bought 'em from today, but I'd have to see a nice high followed by more weakness than I expect for me to sell them anytime soon. Barring a change in fundamentals, and a pretty severe one, I just can't picture silver falling so far as you suggest it might, but again, anything can happen. We're talking about Human Psychology here, so markets are never all that "rational" to begin with, no?

Lastly, and this is an "axiom" I came up with some 15 years ago to describe markets, and I think it's rather profound if I may say so myself: "The markets are NOT a reflection of reality. They are a reflection of the PERCEPTION OF reality."

I appreciate your thoughts. It's nice to chat with an intelligent person who doesn't find a page and a half "too long to read" before forming a strong opinion. I'd give real money to watch these commenting clowns attacking me try to trade! LOL

16571607? ago

great. will answer soon.

16573389? ago

Whenever you have the time, man. Both look like they're about ready for a FIB RT if you look at a 30-day chart.

Gold has rallied from 1280 to 1320, now it went back to $1310 but back up to $1313. I think the next major hurdle for it is at ~ $1365-ish.

If you take that $40 rally for simple math, a 50% Fib RT takes it back down to $1300 again, making it what I call a "common number" in that it's both resistance and support (or was before it was broken) where trends reversed both down then up and up then down, bouncing of $1300, at different points.

We've got an "ascending triangle" in gold since the end of 2015 with higher lows and a flat line of resistance in that $1365 area. Those patterns are historically bullish.

16757799? ago

check Endeavour Silver Corp.

16761387? ago

looks cheap historically speaking but what am I looking for other than a fairly low stock price? What is it they've got going for them others don't?

I tend to stay out of stocks because of extra risk that the metals themselves don't carry.

16762783? ago

agree. i have some gold/silver coins and some miner stocks (also endeavour), everything buy and hold. In April or may think, i will start daytrading again. Before that i have to make money with honest work.

16767270? ago

Yup I can't afford it, either. Takes money to make money.