Silver Bullion

Forum: Investments
Author: [Investments] Topic: Silver Bullion
SaMJacKJoR PM SaMJacKJoR
Joined: Jun 2010
Posts: 644
Prince Edward
              Island
 
SaMJacKJoR
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Posted: 7/19/2012 6:51:33 AM

Is now the time to buy @ 27ish/Oz?

atlasshrugged PM atlasshrugged
Joined: May 2008
Posts: 11201
Massachusetts
 
atlasshrugged
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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. 
SashimiKid PM SashimiKid
Joined: Sep 2009
Posts: 2003
Mississippi
 
SashimiKid
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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 PM BET THE HOOK
Joined: Jan 2006
Posts: 1079
Florida
 
BET THE HOOK
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Posted: 7/29/2012 12:01:06 AM
I am buying all that I can afford every week.
mainmanmainman2 PM mainmanmainman2
Joined: Feb 2011
Posts: 4357
Antarctica
 
mainmanmainman2
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Posted: 7/31/2012 9:13:47 AM
no transparency.

if mexico has all out civil war i can SLV going up.

pay attention to the news. theyre a lot of conflicts.
Forum: Investments
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