The EUR/USD appears to have some room to the upside short term before rolling back over IMO. I still see a target of 1.40 at the minimum. All of my EUR/ charts look to be shorts at the moment which makes me cautious on long trades for silver. I am thinking we have more pain in the DOW after this correction which should coincide with USD strength. Again guys, all of this is short term and IMO. I trade currencies so I tune into those and scalp a lot. Overall I am a PM bull and have been since 2003 and I know enough about PM's to know that I don't know in the short term- if you know what I mean. Overall USD is toilet paper and only slightly cushier than the EUR- both only suitable for trading and wiping. Good luck folks- and TURD- nice job on the site. Congrats
Just below $35, vamoose once mentioned the correlation between being %10 off a round number but I think that was a livermore quote/method. I feel pretty good about buying physical at $35, what a great deal! On paper of course its a different game. Hat tip to atlee for the upside resistence prediction! Welcome back.
I think I might short it at the 37 level but I am going to keep tight stops on it in both directions.
I noticed when there is rebound in the US market, the trend typically continue in asia trading.
So my bet is yes, it will go thru 35.50 tonight.
Scawwwwwwwwwwy Pic there! Ha
Great job on the site Turd, we all realize that you hoped it would be operational sooner but the timing may be perfect. Things are about to get very interesting with metals. This will not be a pedestrian summer. E ticket all the way.
Although I agree the silver bounce today/tomorrow is short term, I'm not prepared to throw on a new short unless we get above 36.5...A short placed at 36, when the old higher high was 37.5 could be bad news if something goes nutters in the gold market. I'm trading the indices (shorting) because they're are in a clear bear market. Silver could go either way and I don't have that kind of money to spare.
I'm a noob to this game this year and have had a similar experience. Made some and then lost what I made. Hopefully, I've learned some stuff along the way.
It's like poker: there are no free lessons.
Getting hammered on most Aussie stocks at the moment, namely the gold miners and gas even though all have had great reports or news lately. Like to jump in and out of the silver ETF as has been pretty good to me, as had some small profit on the table decided to sell and cash up a bit. Think I'll wait until things are a little bit clearer to get back in, physical will just hold.
Great new site Turd.
Unfortunately, I don't see it besting 36.25 tonight. I wish it would. I'm long SLV calls tonight anticipating switching it up and shorting again in the AM. Been short since 38 - actually expecting it to push through ~34.5 and hit ~33.4 (actually, i expected 31 ultimately) before rebounding. I - apparently like many others - see it ambling it's way down to 33 after this bounce, but not sure it has the selling force to push it lower than that.
Technically, both gold, silver seem to be entering their summer doldrums. However, we all know how the EE likes to expend vast amounts of unbacked paper in order to paint the charts, and thus control the sheeple's perception, otherwise known as MOPE.
Embry, and Turk are expecting a suprise move higher this summer due to the death star lack of physical, and the whole fiat experiment being stretched to the point of failure. And we certainly don't want that train to leave the station without us. So I have been buying calls on some of the best juniors and small producers 9 t0 12 months out. When about half the time has decayed, I look for a strategic price point to roll them out another 9 to 12 months.
This strategy looks to tread water (slightly sink) when price is stable, make good returns when price is trending up, and most importantly, it keeps us in the cockpit for when the orbital launch happens. These miners will undoubtedly fly when the death star explodes and physical becomes scarce. And I will tip a cold one back to celebrate the destruction of the 'short' miner entities of the EE.
As always, get physical first, and in large quantities before playing in these leveraged paper games....hehe!
Turk Phan here.
For the average guy timing is tough.
Getting on a monthly purchase plan removes some of the emotion and makes sense.
That's an interesting play. I tend to like to roll over contracts to keep most options at 2-3 months. I don't play miners, though - because first and foremost they're stocks. I think a lot of us, certainly myself included, anticipate the broader market trending downward pretty hard until we see some stimulus. Do you hedge for that or not expect it?
Looks like we are seeing the first signs of the pop in silver/gold.
Right? Lets keep it rolling!
are you thrice divorced?
Love the new site Turd!!
Nice descending triangle with solid support at 34.50 and higher highs and higher lows. Lets hope it holds up overnight and into tomorrow.