Silver price about to plummet

[DarkChameleon]

2 hours ago, vand said:

The wealth is made over the long term when you can sit on your hands a ride a bull market up. Being long silver in a gold bull market is like being long tech stocks in an equities bull market. It will magnify the overall return, but it may well lag in the early part of the bull when investors are more cautious and go to the more recognised and less volatile variant. Past PM bull markets have seen gold return 500%+ and silver roughly double that. I have no reason to expect the next one will be much different.. No one will catch the very top or the very bottom, and neither should you try. Do most of your buying near the start, most of your selling near the end, and switch out to repeat the trick in another asset. Just getting this right once or twice over a lifetime will may you very wealthy.

I was recently  looking at the early part of the last bull market (1999-). It's very easy to forget how it actually played out, but some people may be surprised when I remind them that silver did absolutely nothing of significant until well into the 2nd half of 2003! That's 4 years where you just had to sit and be patient.. and watch gold go up.. and wonder if silver was no longer considered as a precious metal.. all the stuff that we have had to bear through the last couple of years. Silver tends to lag, but it eventually catches up and eventually outperforms when the bull market starts moving up through the gears

 

 

Holding may make you money in the long run but trading makes you wealthy if your good at it or at least better then most others, I invested years ago in a company called property p, I also invested jn Newcastle football club and games pot when I lived in the uk, I bought Newcastle as I heard that there was a bid to buy man utd, it was a good guess that when one football club was being bought up that the next on the line might be bid on, sure enough the shares went up within a week to make about 30% in a week or so, same thing with gamespot, it was being promoted I  the media for its recent rise so I bought in as did others, I made over 20% in a few weeks but the red company I made money on was property p, it never jumped up 20 or 30%, but it always rose and fell like clockwork every couple of weeks and was a penny stock...it made me more from those small rises and losses over a few years then the others did in a few weeks...sometimes many small trades can make more then a few big ones, day traders live by that law.if you have a reputation you can pretty much buy and sell with little more then pictures ... some I'd buy from with just recommendations like my lcs owner who has sold me stuff from customers he didn't buy from...I have stuff I'd sell at the drop of a hat, I'm sure others in tsf have too...no premiums, just shipping costs, that can make a 10% rise a nice return.

[vand]

4 hours ago, DarkChameleon said:

Holding may make you money in the long run but trading makes you wealthy if your good at it or at least better then most others, I invested years ago in a company called property p, I also invested jn Newcastle football club and games pot when I lived in the uk, I bought Newcastle as I heard that there was a bid to buy man utd, it was a good guess that when one football club was being bought up that the next on the line might be bid on, sure enough the shares went up within a week to make about 30% in a week or so, same thing with gamespot, it was being promoted I  the media for its recent rise so I bought in as did others, I made over 20% in a few weeks but the red company I made money on was property p, it never jumped up 20 or 30%, but it always rose and fell like clockwork every couple of weeks and was a penny stock...it made me more from those small rises and losses over a few years then the others did in a few weeks...sometimes many small trades can make more then a few big ones, day traders live by that law.if you have a reputation you can pretty much buy and sell with little more then pictures ... some I'd buy from with just recommendations like my lcs owner who has sold me stuff from customers he didn't buy from...I have stuff I'd sell at the drop of a hat, I'm sure others in tsf have too...no premiums, just shipping costs, that can make a 10% rise a nice return.

There are very few rich day traders. If it were easy then everyone would be doing it.

But when you play that game you are pitting your wits against everything up to including supercomputers that can execute by algorithm with millisecond holding timeframes. You think you are nimble enough to beat them consistently? The odds are very firmly not in your favour...

Buy and hold investing that sees the big picture, positions itself and patiently waits for it to play out is how the vast majority of fortunes are made.

[KevjustKev]

Comes down to

How do you become a millionaire in the PM business?

Start off as a billionaire!

[DarkChameleon]

5 hours ago, vand said:

There are very few rich day traders. If it were easy then everyone would be doing it.

But when you play that game you are pitting your wits against everything up to including supercomputers that can execute by algorithm with millisecond holding timeframes. You think you are nimble enough to beat them consistently? The odds are very firmly not in your favour...

Buy and hold investing that sees the big picture, positions itself and patiently waits for it to play out is how the vast majority of fortunes are made.

The HFT's can make moves in less then a millisecond but it's like watching a video in 720p, they may stagger the action but they don't stop it, if interest rates drop the market rises, if  major mine closes prices rise, there is still cause and effect, action and reaction, like penny stocks, fraught with danger but when advertised can for a short term take off, idnt see amazon turning into a profit house when it was dumping $1B a quarter?.....day trading is a little extreme I give you that, when you were having to make minimum amounts of trades to keep up with the demands of the trading requirements but still trading on actions like wars in sudan, gulf oil spills, supreme court let offs, small fines for big companiex, the HFT's can make their micro deals in milliseconds, it won't flatten the waves, it just staggers the curves.

[Wonger]

On 02/05/2019 at 10:05, Wonger said:

Removing downside hedges on Gold and Silver, looks like a bottom is forming here, buying more of both. 😀

😉

[Wonger]

On 04/05/2019 at 08:59, Wonger said:

The COT update has indeed confirmed a reversal in speculative futures positioning at the same level as the November Silver lows, expected target for this rally $17, Silver shorts just experienced a can of whoop ass being opened on them, another will be opened next week! 😀 

😉

[sixgun]

14 minutes ago, Wonger said:

😉

Do you have any silver to sell for $4? i am in the market for a few 1000's ounces. 😉

[Wonger]

Maybe I should start a Gold thread on whats about to happen now 😉

[KDave]

Gold price about to plummet excellent news. I was thinking it more likely it would hold on while silver catches up. 

[sixgun]

We pull Mr Wong's leg so much it will soon get pulled off. Mr Wong is wong about so many things but he is a good sport and a top man!

[Wonger]

On 27/03/2019 at 09:47, Wonger said:

The perfect scenario, RichRock, I must admit your posts do make me laugh! 😀

😉

[KDave]

What is that chart showing sub $600 gold in less than a year? 

[DarkChameleon]

1 hour ago, sixgun said:

Do you have any silver to sell for $4? i am in the market for a few 1000's ounces. 😉

Silver colored...I can get you thousands of ounces easily...still interested at $4?...lol...you might have to wait while the paint dries.

[Wonger]

On 25/02/2019 at 17:13, Wonger said:

The more hedge funds buy futures, the more commercial banks are selling to them, the cost of production has no implication on the price of a commodity, if it takes silver to sell off to $4 for the hedge funds to close out long positions then $4 is where silver will go, the cost of production does not even come into the equation.

I did not predict $4 Silver in that post! 😀

[sixgun]

On 01/03/2019 at 22:44, Wonger said:

Its going to $4 and stackers will beg for mercy!

You're nailed Mr Wong - here is your prediction. 

[Wonger]

10 minutes ago, sixgun said:

You're nailed Mr Wong - here is your prediction. 

Correct, I did predict $4 Silver in the post you just copied but not the post I referred too! 😀

Here I will say it again, Silver will print a $4 handle and soon!    

[sixgun]

9 minutes ago, Wonger said:

Correct, I did predict $4 Silver in the post you just copied but not the post I referred too! 😀

Here I will say it again, Silver will print a $4 handle and soon!    

i better start saving up for when silver gets to $4. 

[Wonger]

1 minute ago, sixgun said:

i better start saving up for when silver gets to $4. 

We already had this conversation of flashing paper from $7 - $4, meanwhile Brexit is cancelled due to Iran War 3.2.1................Boooom

[999magnum]

$4 silver?! I'm selling all my Ripple which I bought for $2 at $0.33 and I will still be ahead 👌

[vand]

See, I can give wonger some credit where it's due. He's clearly got a good handle on current sentiment, and I actually agree with him on his short term calls (and said as much).. making a good topping call at the start of this thread and again catching the bottom since then. Right now sentiment is running pretty damn hot and it wouldn't surprise me if we bleed a dollar  or more off silver over the next couple of weeks.

But then he's goes full whacko mode the next post by sticking by his $4 silver. Unless he means $4/gram. This is Bob Prechter type insanity, and is what happens when you marry your forecast too much to your ideology of the world.

 

 

[Wonger]

On 20/07/2019 at 23:44, vand said:

See, I can give wonger some credit where it's due. He's clearly got a good handle on current sentiment, and I actually agree with him on his short term calls (and said as much).. making a good topping call at the start of this thread and again catching the bottom since then. Right now sentiment is running pretty damn hot and it wouldn't surprise me if we bleed a dollar  or more off silver over the next couple of weeks.

But then he's goes full whacko mode the next post by sticking by his $4 silver. Unless he means $4/gram. This is Bob Prechter type insanity, and is what happens when you marry your forecast too much to your ideology of the world.

 

 

Vand, i do not insult people by petty name calling on here, I do not feel the need as I simply let my forecast and the market prices do the talking! 😀 

[Abyss]

@Wonger Silver $4 in the paper market is it possible? Technically yes with a computer glitch or spike down but in normal trading condition virtually impossible $4 silver.

Silver bear market six years attempted to find lower lows in price. Silver was going to trade below $13 then in bear market had plenty of time for price discovery to trade below $13 but failed to on numerous attempts to penetrate below $13. I would have a hard time to believe anyone who suggested paper Silver will trade below $13 based solely price action Silver $ charts let alone $4.

[Guest]

 

On 19/07/2019 at 20:45, Wonger said:

 

Here I will say it again, Silver will print a $4 handle and soon!    

Welcome back Wonger 😁

Your $4 Silver prediction still doesn't fit anything recognisable...

[flim]

the silver price is actually higher than that the time when this is originally posted 25 Feb 2019

so for people who hold on, actually is in the black, even though they missed out on some drop of <1.50

some people focus on the actions, while other focus on the metal

if there were picked up at 14.50, then there is profit to be had

[DarkChameleon]

1 hour ago, flim said:

the silver price is actually higher than that the time when this is originally posted 25 Feb 2019

so for people who hold on, actually is in the black, even though they missed out on some drop of <1.50

some people focus on the actions, while other focus on the metal

if there were picked up at 14.50, then there is profit to be had

But thankfully those long termer aka since the Feb post have bought continually, I didn't hear anyone suspend their buying so they might have caught some higher costs but they hopefully listened when we were at 14.50 and bought like their lives depended on it, so they are hopefully making some nice profits now and still holding on.