Awesome video. Get some popcorn and watch the whole thing:
Hi-Ho Silver Silver Charts
im very hesitant about buying in at these levels, which maybe is an indicator that i SHOULD buy at this level. But i know we've been here before and got slaughtered so ill wait :)
Some time ago I saw a multi-decade silver chart and the recent price action has completed, I think, a cup and handle pattern. If someone could pull up a multi-decade chart and post it here with some TA, it would be really appreciated.
I am not sure what it might mean but I believe it might signal a huge spike in prices after it crosses US$ 50/oz.
(This is a repost from the main comments page of Turd's last post but I thought it might be useful here since Hi Ho is so good with charts and would also remain on view longer!)
... you can't handle my charts!! Check out the 14 month cycle that silver seems to be repeating from 2008, even the months match up almost exactly. Creepy shit.
How are those for bearish charts? Better yet, how do those charts compare to this one that I'm sure most of you have seen posted in random places in Turdville?
Hopefully this time around the pattern doesn't hold, but who the hell knows at this point.
Here's two more charts I made for the hell of it last night to see what else is looking 2008-ish:
Hmmm, touch down after the final wave at $9, then run to $50 (550%) which would correlate to a drop to $18 now and then a subsequent move to exactly $100 in the next 3 years. I'm on board with that. Do I rent a U-Haul to take to the coin shop or should I just walk in and buy the entire business from them?
The markets feel as shaky as they have been all summer: the DAX flash crash, the BAC nonsense this AM, the PMs in-you-face manipulation, the desertion of equity investors, the now palpable sense of tomorrow's BB futility, etc.
The wheels are coming off, brothers. I'm sitting on mountains of cash, waiting.
Your charts are really creepy.They send shivers up my spine.Of course if it did drop that far and I had a wad of cash to throw at it.Then happy days.But a fall that big would knock the shit out of even the most silver bull.Now I am not saying it is different this time.That is always a mistake that comes back to bite a person on the arse.But 2008 was much more of a shock situation.Over the last 3 years.Nearly on a week by week basis.The reality of the debt etc,is more and more apparent globally.So the shock might be more muted.If there was an insolvent anything.Silver and gold held up well during the downturn in the last couple of weeks.I was wonder if the opposite might have a bigger influence.That a upturn in the world economy [though hard to imagine at the moment] probably led by asia.With china getting its inflation under control.I am not sure where the upturn would come from.Silver longs in Asia start to sell out increasing supply. Does the awareness of the global debt make it different than 2008 [Dam it,did i just say it is different this time.].I didn't mean to.In 2008 I didn't even know about gold or silver.I knew nothing about the markets. I didn't even know what money was.I would like to think I have a better handle on things now.But everyday the markets throw something new at me and my ignorance is exposed again.Thank you Justin for your charts,thank you all for charts and thoughts.
Physical would completely vanish at $20. Too many big players now know the following... Because of its hundreds of utilities in industry, and because too much of the earth is in a modernizing phase, even a depression in established economies will not slow global demand. Those big players also know fiat ponzinomics will eventually fail... there will be an enlightenment and gold/silver will back a world reserve currency. At the very least Silver will achieve Platinum level pricing because of scarcity by 2030. 90% of the earth's mineable resources will be depleted by 2050.