Another Silver drive-by coming?

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#1 Mon, Jul 25, 2011 - 11:17am
FalseParadigm
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Another Silver drive-by coming?

Courtesy of Silver Shield via dont-tread-on.me

https://dont-tread-on.me/another-silver-drive-by-shooting-coming/

The market definitely seems hesitant. The past few days the markets tend to open higher and ride a plateau until close.

Still suggests IMO that a debt deal will be used by the EE to smack down PMs one last time. 

Edited by: FalseParadigm on Nov 8, 2014 - 5:09am
Mon, Jul 25, 2011 - 11:27am
Dr Durden
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Sure, why not. Another great

Sure, why not. Another great buying opportunity and more stress on the COMEX.

However, the first time we saw $40 back in April it was smacked down hard, but sprung and didn't look back till $49. Then we flew right past it on the way down. Now we see it again, smack down, again, smack down and now the 3rd time we make it through and above. Is the 3rd time the charm? If we close above $40 I don't see it happening....but of course would welcome more oz for less fiat.

Got GIABO? "It's called the American dream, because you have to be asleep to believe it." ~George Carlin
Mon, Jul 25, 2011 - 11:32am (Reply to #2)
FalseParadigm
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Dr Durden wrote: Sure, why

Dr Durden wrote:

Sure, why not. Another great buying opportunity and more stress on the COMEX.

However, the first time we saw $40 back in April it was smacked down hard, but sprung and didn't look back till $49. Then we flew right past it on the way down. Now we see it again, smack down, again, smack down and now the 3rd time we make it through and above. Is the 3rd time the charm? If we close above $40 I don't see it happening....but of course would welcome more oz for less fiat.



Remember though that each attempted smack down was linked to debt ceiling rumors. PMs tanked on the initial news only to rebound on news that the rumors were false.

I still believe that any significant drop in price will be short-lived. It won't take another 2 months to get back. Likely 2 weeks tops. 

Mon, Jul 25, 2011 - 11:38am
Dr Durden
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Fine, if you want to try to

Fine, if you want to try to make order out chaos, then go for it.

The way I see it is every silver bull that has a blog now, more than ever, wants to be the "the guy that called it." There's this self-motivating, intrinsic need to be fulfilled by getting to tell the world "told ya so." There are too many pundits, not enough that understand the big picture. There are subscriptions to sell, so you have to scare people into buying them somehow. It gets old.

Think for yourself, question authority.

Got GIABO? "It's called the American dream, because you have to be asleep to believe it." ~George Carlin
Mon, Jul 25, 2011 - 12:02pm (Reply to #4)
FalseParadigm
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Dr Durden wrote:Fine, if you

Dr Durden wrote:

Fine, if you want to try to make order out chaos, then go for it.

The way I see it is every silver bull that has a blog now, more than ever, wants to be the "the guy that called it." There's this self-motivating, intrinsic need to be fulfilled by getting to tell the world "told ya so." There are too many pundits, not enough that understand the big picture. There are subscriptions to sell, so you have to scare people into buying them somehow. It gets old.

Think for yourself, question authority.



I do think for myself. If you've been following any of what I've been saying, you'd know that I was calling for a dip before QE3 before a lot of these articles began coming out.

And I do agree. A lot of these articles try to scare people into buying a subscription. Unlike others though, I'm nothing but bullish on PMs long term and I'm not trying to sell anything. Still believe that there will be some downward pressure coming out of the inevitable debt ceiling deal. I again feel it will be short-lived. But TPTB won't allow gold and silver to go straight up prior to QE3. 
Mon, Jul 25, 2011 - 12:05pm
tallydynasty
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When everyone is expecting a

When everyone is expecting a drop on news everyone knows eventually will come - how does that normally work out?

Mon, Jul 25, 2011 - 4:50pm (Reply to #6)
Desert Fox
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tallydynasty wrote: When

tallydynasty wrote:

When everyone is expecting a drop on news everyone knows eventually will come - how does that normally work out?

What do the traders call that,,,,

The Wall Of Worry? lol

Calling hiccups, smack-downs, and actual fundamental driven news is a game that most investors get whip-sawed by.

Makes it nice to be in a buy and hold pattern and of course BTFD.cool

Get long, Stay strong!

Mon, Jul 25, 2011 - 9:28pm (Reply to #4)
lilbromarky1
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Dr Durden wrote: Fine, if you

Dr Durden wrote:

Fine, if you want to try to make order out chaos, then go for it.

That's really what it comes down to. Day to day silver speculation is masturbation. We're all just waiting for the real thing. 

I have to remember not to look ahead too much. I tend to do that. Gotta enjoy the nows too :)

Like my ideas? Check our blog at: https://backtobasicseconomics.blogspot.com/

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