Well, any thoughts on silver. I have been bullish all month. We are closing above $8.00 today. Gotta correct here right? How about a $1 rise on a given day next week? Takers??
cheers,
john
Silver Goes nuts Monday!
Started by
SilentOne
, Apr 02 2004 02:52 PM
5 replies to this topic
#1
Posted 02 April 2004 - 02:52 PM
"By the Law of Periodical Repetition, everything which has happened once must happen again and again and again-and not capriciously, but at regular periods, and each thing in its own period, not another's, and each obeying its own law ..." - Mark Twain
#2
Posted 05 April 2004 - 03:15 AM
No opinions on silver then?
The second chart suggests about $9.30 as the next stop. Could be the top of waves 1 and 3 up from $6.00 combined and I would count this as wave a 3-1 or 3-3. The consolidation at $6-6.5 (flag pattern) was a second wave if you are wondering. From the $9.30 level you could get consolidation back to $8.00 before attacking higher levels. No clue on time frame once we hit $9.30ish. $12 seems like a shoe sometime this year. If we break higher in the short term, we'll have to readjust targets. I doubt that pitchfork will contain price.
http://stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=$silver,uu[l,a]daclyyay[pb50!b200][vc60][iub14!la12,26,9]&r=2451.gif
http://stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=$SILVER,uu[p,a]mhllyyay[d19800101,20041231][pb50!b200][vc60][iuh5,5!ua5,34,5][J21672200,Y].gif
It will be interesting to see how silver stocks react off any highs.
cheers,
john
The second chart suggests about $9.30 as the next stop. Could be the top of waves 1 and 3 up from $6.00 combined and I would count this as wave a 3-1 or 3-3. The consolidation at $6-6.5 (flag pattern) was a second wave if you are wondering. From the $9.30 level you could get consolidation back to $8.00 before attacking higher levels. No clue on time frame once we hit $9.30ish. $12 seems like a shoe sometime this year. If we break higher in the short term, we'll have to readjust targets. I doubt that pitchfork will contain price.
http://stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=$silver,uu[l,a]daclyyay[pb50!b200][vc60][iub14!la12,26,9]&r=2451.gif
http://stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=$SILVER,uu[p,a]mhllyyay[d19800101,20041231][pb50!b200][vc60][iuh5,5!ua5,34,5][J21672200,Y].gif
It will be interesting to see how silver stocks react off any highs.
cheers,
john
"By the Law of Periodical Repetition, everything which has happened once must happen again and again and again-and not capriciously, but at regular periods, and each thing in its own period, not another's, and each obeying its own law ..." - Mark Twain
#3
Posted 05 April 2004 - 05:24 AM
John, are those your charts from over at the SC public chart list? Just curious.
Btw, I was buying Silver back in Dec. when in was in the mid $5 range. I think this is a longer term move that may eventually reach the $14 area, but that is just longer term speculation on my part.
Best.
Trade based on what you see happening, not what someone else thinks or hopes will happen.
#4
Posted 05 April 2004 - 06:05 AM
Hi Betel,
Those charts belong to Steve Swink. The best collection of metal charts I have come across on the web. I use many of them to trade my metal stocks.
&disp=O]Steve Swink's charts
cheers,
john
Those charts belong to Steve Swink. The best collection of metal charts I have come across on the web. I use many of them to trade my metal stocks.
&disp=O]Steve Swink's charts
cheers,
john
"By the Law of Periodical Repetition, everything which has happened once must happen again and again and again-and not capriciously, but at regular periods, and each thing in its own period, not another's, and each obeying its own law ..." - Mark Twain
#5
Posted 05 April 2004 - 06:24 AM
Nice charts, thanks,
I'm long silver up to my eyebrows and loving it. Riding CDE most with some PAAS and some WHT. Been seeing some nice moves in the other off metals and holding PAL for Palladium and SWC for Platinum. SWC was up 13.08% friday.
I've got about 30% in metals in some form or another - and just riding the trend.
best,
rono
#6
Posted 06 April 2004 - 11:56 AM
Silver,
Triangle forming on 5 day?
cheers,
john
Triangle forming on 5 day?
cheers,
john
"By the Law of Periodical Repetition, everything which has happened once must happen again and again and again-and not capriciously, but at regular periods, and each thing in its own period, not another's, and each obeying its own law ..." - Mark Twain