Wt Silver 2x Discussion Threads

[traderabc] 02/7/2012 12:18

Titus thanks for your response. I guess nothing is certain, especially in this game, but the odds do look favorable for silver atm. A long protracted consolidation, the bottoming on the charts and great fundamentals , what could go wrong?

;-)

[titus10] 02/7/2012 11:17

traderabc - it's certainly looking positive. On my TA system, likely to give a trading buy signal tomorrow and the longer-term indicators are looking good, too.

On a perspective view, LSIL is back at the level which provided support in Q2 2008. A little lower, in the $25-30 area, it met a fair bit of resistance on the way up. This is therefore another support area now, which should reinforce the current buy zone.

I'm watching silver daily on my IG trading platform. It has now bottomed 4 times at this level on the spot contract, so yes, I'd say this is the time to buy.

I sold half my LSIL position a while ago and will likely buy that back hereabouts.

[traderabc] 02/7/2012 10:24

Titus, you tempted yet? This must be be the low, at least a short term low, surely?

[buffett100bln] 31/5/2012 20:02

er..I think not.

Silver will trade below $20 before it trades at close to $40 again! Oh, the wonders of a deflationary slump before the printing starts in earnest!

[kaos3] 23/5/2012 19:42

recon time to buy.

[wizard7] 08/5/2012 12:45

trader - still baffled by it all here but have a sense that that the end is getting closer for the established economies of the West - Greece and now France will help it along more quickly. But we could well see much lower yet PM prices before 'they' can't stop it anymore...

[traderabc] 08/5/2012 12:37

I'd buy this one now, but as I'm already holding two positions I better not.

[wizard7] 08/5/2012 11:21

Blimey - back in the 30s again - who'd have thought it?

[traderabc] 01/3/2012 09:08

Looks like it might have stabilized, last night's inter-day low, was probably the low, back up now?

[titus10] 29/2/2012 20:12

Traderabc, $60-65 has been a support/resistance area for LSIL since the end of 2010. I did wonder if I should comment on this yesterday, as it happens, but people are entitled to their euphoria in a rising short-term trend, so I didn't...

Today's classic downward Key Day Reversal on high volume looks pretty emphatic for now and I'm halving my investment holding for the time being.

As far as leveraged spread trading is concerned, I use momentum indicators a lot for this activity and have found silver frustratingly difficult recently. From time to time, conspiracy theories rear their head over precious metals, so grbaker's posted article on the 20th was fun to read. Certainly, the differences between the gold and silver charts are quite striking. Could there be something in the manipulation theory? I wouldn't know, but suspect the High Frequency Trading computers, said to account for well over half all trades on the NYSE, may be at work here.

The next support level looks to be around $30 on the spot and futures charts, so I would be tempted to add if it stabilised and turned up thereabouts. Equivalent on LSIL would be the $40 area.

[wizard7] 29/2/2012 17:09

Blimey - let's all take that back shall we?!

[traderabc] 29/2/2012 11:09

Nice rise today, Titus what do you think? 80 achievable?

[wizard7] 28/2/2012 14:16

Ye-hah. I only wish i had bet the house when the LSIL price started with a 3!

[grbaker] 20/2/2012 15:45

Spotted this on the AGQ thread... definitely worth a listen!


squirrel888 - 20 Feb'12 - 13:44 - 31884 of 31893

Something to listen to whilst we wait



Enjoy!

[wizard7] 04/2/2012 19:01

lokking for a re-entry monday or tuesday - will down further by then!

[traderabc] 03/2/2012 15:15

This doesn't seem to be accuratly tracking silver today, surely it should be down more then this?

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[traderabc] 17/1/2012 11:10

as it looks like my fears over $20POS have been.


I think they're perfectly valid fears, an inter day touch on the $21 area (paper prices) is well within the silver cartels remit. I don't want to see it and I don't think they'll get away with it this time round, but we shouldn't forget they've done that sort of thing before. Virtually nobody believed it was possible for them to take oil down from $140 to $40, but it happened.

[wizard7] 12/1/2012 12:25

Indeed - the recent fall was too good to resist in the end - it will be nice to see the mid 30s again - hopefully as we smile and pass on higher still proces. I think it will take attention reverting to the US deficit rather than the Euro sideshow to really kick off POG/S but I am very happy to be proved wrong as it looks like my fears over $20POS have been.

[traderabc] 12/1/2012 12:16

& up she goes, nice..

[titus10] 03/1/2012 11:27

Silver now looks technically interesting (to me, on the basis of my chart work).

The main question is whether the April 2011 run-up was the blow-off spike for the 10-year or so bull market in Silver, echoing what happened in Jan 1980.

If so, we should next see 2000c (and the Wizard's $20 on LSIL?), which should offer a trading long, thereafter a bear market in PMs.

But the state of world play is not the same as 1979/80 and I fancy we've corrected enough for now, so I'm ready to get some in, having been out since early summer.

Being otherwise engaged, I missed a trading buy signal on 29 Dec and it's now back up to resistance on the daily chart,being the trading zone from 15th to 28th Dec, but I like the way it's tackling the downtrend since 2nd Dec on the hourly chart, so I'll re-buy some LSIL as investment, then seek trading opportunities if right.

[traderabc] 29/12/2011 15:18

This should be the low, there can't be much left to go..

Silver Update 12/28/11 The Final Smackdown