LiveTradingZone
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silver and gold looking more bearish on the daily and weekly charts....
Silver...just put in the highs for many years to come
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LiveTradingZone
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still looking bearish...anyone getting long here? Have to watch for the double bottom at $26 area on the continuous contract.
LiveTradingZone
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OK...it's been over 1 year now, and Silver looks as bearish as it can get. Tripple bottom here at $26 area and it looks to be going to the $18 range soon 
Hope someone held a short from $49!!! I know I wish I did!
Hope someone held a short from $49!!! I know I wish I did!
ironically, gold bugs and silver bugs, need QE as much as equity fans, we always here "gold and silver protect investments" or Fiat money is worthless ect buy gold, but the fact is as soon as further easing is off the table the prices of gold drops through the floor.
VendorExterminator
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OK...it's been over 1 year now, and Silver looks as bearish as it can get. Tripple bottom here at $26 area and it looks to be going to the $18 range soon
Hope someone held a short from $49!!! I know I wish I did!
1 year isn't "many years". I'm a big buyer at these levels and under.
new_trader
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Ironically, you are wrong. All you need to do is look at the price of gold over the last 40 years.
We don't always 'here' gold and silver protect investments, that doesn't even make sense.
We always hear how safe they are in times of crisis, I'm asking you to look at the gold chart over the past few years, when QE is mentioned it shoots up when QE is present it shoots up as soon as QE ends it goes the same way as the Dow. Btw if you don't trust paper money why do you trust paper commodities
LiveTradingZone
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Yep...you are right. But 1 year and $115k per contract later here we are. I still think we will not see $50 silver for over 5 years, if not longer.
LiveTradingZone
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Not too far away from 2 years now Exterminator....:clap:
Below $27 Silver should head to $20.
LiveTradingZone
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new_trader
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OK...it's been over 1 year now, and Silver looks as bearish as it can get. Tripple bottom here at $26 area and it looks to be going to the $18 range soon
Hope someone held a short from $49!!! I know I wish I did!
It was a very good call, however there is a huge difference between making a call and having the courage to back it with money. People usually come out of the woodwork and make noises that they are right on a call but very few (if any) made any real money because they didn't back it with real money.
There are a lot of paper millionaires in this forum.
LiveTradingZone
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When you say "having courage to back it up with real money", are you referring to this call? We manage client accounts and the short trade was with live funds. We did exit early, however we do have certain rules to follow for the client trades. Obviously hindsight is 20/20 but the risk/reward was pretty good on that trade, and the trailing stop got us out earlier than I wanted.
The prediction was based on technical's at the time. We still pulled off over $50k profit on 2 lots with the short, which isn't a bad trade even though we are still not holding the position.
