Goldtent TA Paradise

Silver

1. North says:

   July 17, 2019 - 10:48 am at 10:48 am

   Silvers stocks heading up.

2. dadoc1 says:

   July 17, 2019 - 10:57 am at 10:57 am

   It’s been a very long time since I have been this excited about the Silver market.

3. Northstar says:

   July 17, 2019 - 11:11 am at 11:11 am

   And don’t forget, when it does become overbought, it is likely to remain overbought for extended periods of time. Those are the bull market rules.

   • silverboom says:

     July 17, 2019 - 11:36 am at 11:36 am

     Been singing that song to my son for a week or so. Corrections, if you can call them that, are shallow and relatively brief. It’s why I jumped on FSM on Monday – a breakout with no looking back. In two days, up 16%. A $3 stock headed for $10. The landscape is littered with them. One day, SAND is gonna break loose.

     For now, keeping the emotions in check, just watching and waiting. I have a few hundred smackers left, not enough to leverage anything. Might have to sell some calls by end of day to stay within my rules. That would free up some capital! Watching and waiting. No need for giddiness but rather a steady hand and calm emotions. Got right now sit tight.

4. DaveintheUK says:

   July 17, 2019 - 12:34 pm at 12:34 pm

   Silver has outperformed gold on two dead days for gold, as shown by the 3 day Kitco gold and csilver charts yesterday.
   I like to look at those for a kind of short term “idea” of what is moving. Just seeing the lines on gold overlapping for 3 days in a close range and the three silver lines climbing and completely separate makes the outperformance obvious.
   Though the move was +30-35 cents yesterday that is +2% on a 15$ silver price.
   it is the kind of behaviour that I remember from the gold and silver charts in early 2011 as silver crossed over $30 for the second time and gold was having a hard time getting over, guess what? $1430.

   • DaveintheUK says:

     July 17, 2019 - 12:38 pm at 12:38 pm

     That’s one of the reasons that I find $1430 such an important level, even though it was hit only twice in the past: in later 2010 and late 2013. Both times it was very important resistance and took time to overcome. For me, it’s not necessarily the number of touches at a given level, it’s the time served, how long it has been on the chart and whether you can still see the feature on the chart after many years. It’s gonna be fascinating if gold closes over around $1420 and especially over $1430 – to see how far it can go.
     I say $1420 because Peter Hug is talking $1420 as a key closing number and the actual closes when we had these intrday spikes above $1430 in 2010, 2013 and 2019 have all been around $1420ish.

5. DaveintheUK says:

   July 17, 2019 - 12:39 pm at 12:39 pm

   Three white soldiers on the silver chart above?