Silver Monitoring Thread $ (USD) only

[vand]

I once again advise caution here..

Silver is current stretched as far above its 200dma (about 64%)  as it was at previous short term peaks during its early 2000s climb:

Pullback is surely imminent. 

[DarkChameleon]

3 hours ago, vand said:

I once again advise caution here..

Silver is current stretched as far above its 200dma (about 64%)  as it was at previous short term peaks during its early 2000s climb:

Pullback is surely imminent. 

Everything has to take a breath but it comes back quickly, frightened money runs for the door and greedy money runs in.the house is on fire but is it rocking and rolling or rocking ready to collapse....as long as you have physical it doesnt really matter.

[DarkChameleon]

4 hours ago, SPGfuntime said:

Nice!! How much oz in that chest?

500oz silver, 5 oz gold.

[vand]

Have we seen a short term top? Silver now down a full $2 from its overnight highs as the USD finds some buyers.

[DarkChameleon]

3 minutes ago, vand said:

Have we seen a short term top? Silver now down a full $2 from its overnight highs as the USD finds some buyers.

Even more, its high was $29.86 i believe, now $27.50....if imwas into etf id say now is time to buy,  6% drop is a good buy in...wouldnt waste time buying physical, the premiums are not down 6%....youd need $32 to get your money back.

Edited August 7, 2020 by DarkChameleon

[vand]

2 minutes ago, DarkChameleon said:

Even more, its high was $29.86 i believe, now $27.50....if imwas into etf id say now is time to buy,  6% drop is a good buy in...wouldnt waste time buying physical, the premiums are not down 6%....youd need $32 to get your money back.

6% is nothing.. I think it will correct more like 25-30%. 

[DarkChameleon]

6 minutes ago, vand said:

6% is nothing.. I think it will correct more like 25-30%. 

I get the sense its plateuxing at $27.50...either a breather to fall alother 50c or to climb, either way, worth a stah at the ETF.

[Kman]

We had an 8% pullback from last nights highs, I'm using any opportunity like this to top up my SLV

I think we will consolidate and push up through into $30+, maybe then we will get a larger pullback, anywhere in the lower 20s I will put in a large buy

I do feel like gold wants to get to $2100+ and silver $30+ before any big pullbacks but my short term predictions aren't panning out well so far lol 

[DarkChameleon]

6 minutes ago, Kman said:

We had an 8% pullback from last nights highs, I'm using any opportunity like this to top up my SLV

I think we will consolidate and push up through into $30+, maybe then we will get a larger pullback, anywhere in the lower 20s I will put in a large buy

I do feel like gold wants to get to $2100+ and silver $30+ before any big pullbacks but my short term predictions aren't panning out well so far lol 

Itook a jump at $27.50....either way im out by close of minus 30 mins.

[RedDragon77]

Looking forward to see what will happen when US markets open tomorrow, Aug 10. Predictions?

[Oldun]

Unwise to buy when the price is over the bollinger band but silver still in an upward trend so possibly still in a correction mode within an uoward trend.

[RedDragon77]

1 hour ago, Oldun said:

Unwise to buy when the price is over the bollinger band but silver still in an upward trend so possibly still in a correction mode within an uoward trend.

Currently hoping that's the case, we'll eventually see.

[vand]

Caution is still highly advised.

Relative silver hit +65% overnight last Thursday. This was the most extreme reading since the 1987 spike, surpassing even the 2011 peak.  It has only surpassed this level on 2 occassions - 1980 and 1983.

A correction is overdue and it could be bloody enough to shock many new silverbugs who have recently been conditioned to expect that prices only ever go up.

https://www.sunshineprofits.com/gold-silver/dictionary/relative-silver/

Edited August 11, 2020 by vand

[KDave]

31 minutes ago, vand said:

Caution is still highly advised.

Relative silver hit +65% overnight last Thursday. This was the most extreme reading since the 1987 spike, surpassing even the 2011 peak.  It has only surpassed this level on 2 occassions - 1980 and 1983.

A correction is overdue and it could be bloody enough to shock many new silverbugs who have recently been conditioned to expect that prices only ever go up.

https://www.sunshineprofits.com/gold-silver/dictionary/relative-silver/

I can hear the cries of manipulation now.

[HerefordBullyun]

1 hour ago, KDave said:

I can hear the cries of manipulation now.

Some robin hood investors have gone FOMO on the price also a correction is inevitable however short term pain for long term gain!

[goldmember44]

I just hope premiums will also come down with the spot if we get a correction... otherwise dealers may make it tough for us to pick up more on a dip. My hunch is they will all use the "out of stock" trick until prices are skyrocketing again. 

[Kman]

It's  been interesting today that despite acting as opposites since July silver and the dollar have been falling together

We shall see what comes of it

I'm hoping for ~$24 

Will be disappointing if $27 holds up

Edited August 11, 2020 by Kman

[goldmember44]

We are now in a bull trend, so we may see the Americans come and buy the dip when their trading opens. Greed is a strong emotion.

[GWL3]

3 hours ago, goldmember44 said:

I just hope premiums will also come down with the spot if we get a correction... otherwise dealers may make it tough for us to pick up more on a dip. My hunch is they will all use the "out of stock" trick until prices are skyrocketing again. 

It's amazing.  Since the spot price started spiking my inbox is flooded with emails from the dealers letting me know that everything I requested is "Back in Stock".  I'm sure they did get some from sellers, but a majority was probably held back until prices increased.  I also doubt premiums will come down much either.

[goldmember44]

8 minutes ago, GWL3 said:

It's amazing.  Since the spot price started spiking my inbox is flooded with emails from the dealers letting me know that everything I requested is "Back in Stock".  I'm sure they did get some from sellers, but a majority was probably held back until prices increased.  I also doubt premiums will come down much either.

Same here...

[DarkChameleon]

1 hour ago, goldmember44 said:

Same here...

They flood us with offers to sell to us when things arw about to go down which happened then when they flood us with offers for buy from us just before the market takes off.

[GWL3]

26 minutes ago, DarkChameleon said:

They flood us with offers to sell to us when things arw about to go down which happened then when they flood us with offers for buy from us just before the market takes off.

Exactly.  That's why I may hold off for a little while unless I receive a flash deal that is to good to pass.  The price went up too much, too fast.  I have a feeling (I hope) that we may be in for a little pull back soon, before another run.  I just worry that the dealers will  use their "out of stock" trick.  I may have to rely on Ebay or a LCS if spot prices do drop enough

[DarkChameleon]

18 minutes ago, GWL3 said:

Exactly.  That's why I may hold off for a little while unless I receive a flash deal that is to good to pass.  The price went up too much, too fast.  I have a feeling (I hope) that we may be in for a little pull back soon, before another run.  I just worry that the dealers will  use their "out of stock" trick.  I may have to rely on Ebay or a LCS if spot prices do drop enough

I rely on lcs for all things stackable and only deals or collectables with fleabay..right now i have a 5% bucks offer on fleabay.

[Silverscrooge]

Don't worry about short term pullbacks in spot price, the price is going to explode higher again, physical silver cannot keep up with demand...

[Aknot]

Yeah im watching JMB and ready to buy some silver probably 5 maybe 10 rounds but I dont want to even say what my price point will be in fear I will jinx myself....

So far the lowest Generic is $29.79 per single round. With Paypal/CC.

Edited August 11, 2020 by Aknot