Seth, for future reference if you look at a 4 month trendline about to be broken, as SI's sister GC is also selling off, you go short with a target at the lower BB on the daily. Long term trendlines when broken offer some of the best risk rewards trades in any market. We all live a learn everyday. Chances are, next time, you will not miss it. =)
Hehe, dont look at charts for a few days and see what happens. Also, did anyone else think the pattern & peak on the left closely resembled this move? From 7/18 to, 9/5 looking virtually identical to the move from 9/15 to 12/4? The ratio of fibonacci extensions from the weekly highs is almost spot on. http://charts3.barchart.com/chart.a...&vol=Y&evnt=adv&grid=Y&code=BSTK&org=stk&fix=
I had been expecting a correction for a few weeks but whenever silver dipped it always came back I guess the key was wave after wave of selling esp when I was buying instead of joining the crowd to sell hand over fist now who can predict the next day silver crashes $1.00 or so in a day ... will be a rich gentleman indeed
Due to the fact that whenever silver sells off it somehow "manages" to do it pretty violently, I think it's not easy to pinpoint a specific day, averaging is one of the ways or with options upon a conviction of a possible decline. Good news is that long term it's still a buy IMO. No critical level's been violated so far.
no critical levels broken? only the support above ? gosh ... then what is critical support ? $12.50? $12.00? $11.50 ? $11.00 ? funny how all of a sudden $13.00 looks like resistance to me lets hope I am wrong ~
I'm holding on since Iraq is suppose to execute Saddam in January and the lid should really come off..... the Fed. continues to firehose the earth with banknotes
if crude oil stays firm and the Euro "bounces" early next week from the recent lows I guess some bargain hunters might nibble again but if the mindset is still "sell now" ask questions later in the precious metals ... gold plat copper ( and base metals ) then all bets are off ...
1. 10.563 2. 9.421 It is easy to be killed off in most markets if one is late to the party, especially in Silver.
I might be mistaken, have you looked into option expiration weeks? I think I noticed in the past that sell offs in silver happen either that week or last day.