The Silver Short

...but isn't it about time for a bounce?

http://stockcharts.com/c-sc/sc?s=$SILVER&p=D&yr=6&mn=0&dy=0&i=p81712288523&a=236101473&r=1341183821460.png

http://stockcharts.c...41183991737.png

bounce to 32 and then crash?

bounce to 32 and then crash?

Exactly, max $32 and then drop.
As for a crash....who knows?

-tria

tria

This PNF chart of silver seems to confirm your call. Will see. Thanks for the chart.

tria

This PNF chart of silver seems to confirm your call. Will see. Thanks for the chart.

JohnGeorge,

The thanks and chart belong to our diogenes, I believe.


Diogenes,

I miss your posts in the T-Theory forum.

-tria

bounce to 32 and then crash?

interesting!
looking for a crash when as asset is down 50%!
by now i would think all the fluff is out of the silver market
it appears to be basing. according to the figures i read, silver sales are the same dollar amount as gold sales. =58x the amount of silver being bought.
i also see world wide sales of solar picking up.
dharma

crashes are rare, but the chart clearly shows that if recent lows were taken out 21 area could come easily I agree that would be a gift , one I dont imagine receiving

bounce to 32 and then crash?

interesting!
looking for a crash when as asset is down 50%!
by now i would think all the fluff is out of the silver market
it appears to be basing. according to the figures i read, silver sales are the same dollar amount as gold sales. =58x the amount of silver being bought.
i also see world wide sales of solar picking up.
dharma

Just saying it Dharma, to satisfy the Bears who have $23-$17 as an objective. Not me by any means.

-tria

silver =volatility, i dont put parameters on the silver market. its way too volatile. a good rule of thumb though is 50% retracement ,which is darn close in the silver market. any drops to or near the 50% point is a gift. wrapped w/a red bow. the cbs are running out of room to cut rates. they will have to use the bazooka. and even then the patient might not be revived. in the 30s remember that folks distrusted banks, thus the expression putting money under the mattress , was quite literal. banks viability is going to come into question. @some point. buying weakness is the name of the game, forecasting will keep one waiting . its a tendency of all of us. and thus we miss opportunities i firmly believe we are on the threshold of the 3rd phase of the bull. if its wave 5 in elliot terms it will have an extension is my guess. and i fully expect the dow and gold to trade #1:1 before the bull breathes its last. dharma

The chart is not drawn accurately, there are 3 bottoms 26.15, 26.15 and 26.10, so the line showing a serious breakdown of support is not right, it is at this point more like a triple bottom.

I am not totally sure if we have seen the low yet, but the US dollar appears to be breaking down despite today's rally. Gold appears to have put in a double bottom.Gold Chart

Martin Armstrong has issued a buy on Gold which means Silver should go up with it if he is correct, but that is just from his free articles, if you want his serious Gold report you have to pay him $300.