[Investments] Topic: Silver Bullion
Joined: Jun 2010
Location: Prince Edward
Posted: 7/19/2012 6:51:33 AM
Is now the time to buy @ 27ish/Oz?
Joined: May 2008
Posted: 7/22/2012 10:37:32 PM
Personally I am waiting. but bear in mind that my system ONLY goes long based off of chart action first and foremost. fundamentals are secondary. and you ALWAYS sell based off the chart (the bad "news" will follow the breakdown in the chart).
this looks like it is still in a very clear cut downtrend that really started last August and more so since March of 2012. looks like it really wants to test its 40 week MA and/or 200 DMA. this would be in the 22ish and 23ish area.
all of the fundamental reasons to own precious metals make a lot of sense. but the charts say caution is warranted in my view. plus, in the short to intermediate term the "buy the metals because Bernanke will do QE3" angle may not be as reliable as most people think. also, the USD is building up for what could be a very large move higher (assuming no new QE just yet) and this in all likelihood puts pressure on SLV.
Joined: Sep 2009
Posted: 7/24/2012 11:24:51 PM
45 to 27 in little over a year...like atlas i see the downward trend continuing...
BET THE HOOK
Joined: Jan 2006
Posted: 7/29/2012 12:01:06 AM
I am buying all that I can afford every week.
Joined: Feb 2011
Posted: 7/31/2012 9:13:47 AM
if mexico has all out civil war i can SLV going up.
pay attention to the news. theyre a lot of conflicts.
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