doing some light buying
#1
Posted 09 November 2010 - 03:08 PM
#2
Posted 09 November 2010 - 03:18 PM
i am starting on silver issues.
dharma
Any names you wish to share? I've just picked up some SQI, and looking at FVI.
#3
Posted 09 November 2010 - 03:41 PM
#4
Posted 09 November 2010 - 07:10 PM
#5
Posted 09 November 2010 - 07:36 PM
Don't know when or how this will end - lots of bearish engulfing patterns with heavy volume.
My guess is down tommorrow and bottom on Thursday.
stubaby
Stu...you ain't kidding. Some UGLY sticks.
Been operating on premise that we just had major breakaway gaps on Miners.
I would prefer for them to hold. This correction sure is gonna be educational...
#6
Posted 09 November 2010 - 11:59 PM
Don't know when or how this will end - lots of bearish engulfing patterns with heavy volume.
My guess is down tommorrow and bottom on Thursday.
stubaby
Stu...you ain't kidding. Some UGLY sticks.
Been operating on premise that we just had major breakaway gaps on Miners.
I would prefer for them to hold. This correction sure is gonna be educational...
I agree JGS. This is going to be interesting.
I don't think the sentiment is right for even a normal multi-week correction to start, personally. So, stu's scenario sounds good to me. But, I'm not going to totally dismiss the possibility of a normal correction starting (we wouldn't know for sure unless $1315 breaks, anyway). The x-factor may be whether the Dollar wants to re-test 80 right now or not.
Like dharma, I'm not expecting a major top in the PM complex until sometime next year - but I actually think it will come closer to May or June rather than ~Feb (even though Feb lines up much better with the seasonal trend). That top should lead to the biggest decline we've seen since 2008 and scare the bejesus out of any n00bs. Then, a new phase begins, and it will be even better than the phase we've been in since the 2008 low.
That's my opinion, anyway.
-Scott O'Neil (son of William O'Neil), Portfolio Manager at O’Neil Data Systems, when asked where the Dow would go in the coming months
#7
Posted 10 November 2010 - 06:19 AM
johngeorge
#8
Posted 10 November 2010 - 06:35 AM
#9
Posted 10 November 2010 - 07:01 AM
Edited by johngeorge, 10 November 2010 - 07:01 AM.
johngeorge
#10
Posted 10 November 2010 - 07:49 AM
Heavy volume for SLV would be an understatement. Did you guys notice that SLV traded a little more than 148 million shares? That's the highest number of shares ever traded for SLV since it's inception in 2006. Check out the volume spike on the daily chart.Don't know when or how this will end - lots of bearish engulfing patterns with heavy volume.
My guess is down tommorrow and bottom on Thursday.
http://stockcharts.c...0688&r=5615.png
Edited by Ken, 10 November 2010 - 07:50 AM.