I havent posted for a few days, and from what I’ve been looking at, it looks as though we will be going through consolidation until mid-late July-Early Aug. That would go with seasonality and QE3 announcements. I will be watching, I believe the trading range will be between $30-$40 for silver, and $1450-$1600 for gold. On silver, trading throughout the summer may set up for a cup and handle or reverse head and shoulders patterns. That’s pure speculation, but both of those go with the timeline, and estimates of $55-$65 for highs on the year. I’ll be sitting on the sidelines until the end of summer, unless something major changes. I do think trying to go long at the $30-$35 level is the target. Trading in the range in the short term may be good, but Ive noticed that getting in near the lower $30’s is tough as most of the time that occurs and rebounds in the overseas markets. You can try at the close of the NY session after a takedown. I will not be doing that, unless I happen to fall upon $30, and I’ll go long on some call options for dec ’11/jan ’12.
Another take on support levels
and the end of Thursday
I think it’s time to start re-upping. Im probably buying today or tomorrow, I dont think I want to for the weekend. You could wait for an up day in the market, but Im thinking anywhere $38 and under is a good spot. You can wait for an up day before jumping back in, but I think that is coming anyday now. Looking at gold as an indicator, it still has some way to go, if gold doesnt hold about 1500, next support is 1475-1480. Silver and gold ratio is right around 40,
Ths USD is coming up to 74, which is has resistance at 75. bin Laden thing. Portugal just got bailed out (remember greece)
APMEX is pushing high premiums, so Im going the bulliondirect.com route this time. I think the dip is due to those margin requirements, and I think it could be over now. Asia hasnt done too much lately in the overnight, but they can come back with avengence.
happy dip buying! Good news is that if you cant get some right away, we will probably consolidate between the bottom 34-36?and top 42-48 until the end of summer… seasonality… then we move up again in the fall, just thoughts
This guy thinks the turn around will be quick.
may 4 Potential support lines
may 4 analysts say still lower – most re saying the same as me, mid 30s
may 5 Thursday charts
Kiyosaki -predicts a terrorist attack, 2016-2017 stock market bottom; also kevin kerr
Ben Davies, very good interview worth checking out, also his investor letter linked on the page. using his deviation graph, it shows a 50% decrease from top to bottom, which is right at the 50 day moving avg. which is right around that $34-$38 level
Apmex Starts Reverse Inquiry: Seeks To Buy “Any Quantity” Of Silver From Clients At $3 Over Spot | zero hedge
This article was posted on Apr. 25th and definitely caught my eye. Today May 3, the day after an extremely volitile yesterday, I began looking at premiums. I of course didn’t sell, but it shows the lack of silver, at least in these products. I’ve looked at gainsvillecoins.com, apmex.com, bulliondirect.com, and mjpm.com.
Gainsville seems to have the most quantity of ASEs, Maples.
Apmex, BD, MJPM, all are either sold out, or delayed on ASEs and Maples
On MJPM, they are offering higher than spot for these products, and close to spot on the generic bars/rounds.