Loading ...Massive Upside Explosion!
My Christmas Wish buying opportunity was a modest pullback from last weeks surge. Silver, this morning has now filled the gap at 25 created last Thurs. This action was the pause that refreshes. A powerful upside explosion in gold and especially silver begins now! Merry Christmas to All! PS: Today may go down in history as the last time silver ever trades below 26.
Curb Your Enthusiasm CM
🙂
Rambus spooked me yesterday with those H&S’s!
Silverhawk, That’s why I wrote “Keep Your Eye On The Ball” posted earlier this morning.
They are still valid but it will take a 5 to 8% drop to get there.
Tricky spot. I am spooked too
“Today may go down in history as the last time silver ever trades below 26.”…Amen, one can only pray.
The more cocksure generally the more misinformed. Could you explain your argument for such a high level of conviction?
Not a matter of being cocksure nor misinformed. Look at the chart. Silver on Monday was over 27. It had a pullback and filled it’s gap. If you believe it is going to rally above it’s Monday high soon(I do)than a move to test 30 would begin. It may run or do it slowly. If this is going to be the mother of all bull markets (silver) than why would it test below 26 again? Of course it could but I believe once it moves on to take out overhead resistance it isn’t coming back to these levels. The amount of money creation around the world says it is unlikely. Look at Bitcoin and everything else. Inflation is here.
So if I understand CM, the fact that the gap fill was so quick is your tell that the market (or at least the market makers) do not believe there is going to be any re-trace low enough to fill the gap – presumeably ever. I believe you may be right, with one caveat – it is based on the degree to which one believes the silver market is in fact MANAGED. This may seem a dumb qualifier – I’ve heard both sides, but I do think it is a letigimate one also considering the calendar. What are big money managers going to show as part of their year-end holdings – PM’s haven’t really caught on yet (rest of market booming also) so their omission is not noteworthy to their investors, we should know in early Q1 institutional interest in PM’s. Famous or infamous, you can’t be accused of not having really big ones.
Don’t think you understand what I wrote. The gap was filled. That is what I expected. It wasn’t a tell. Why, once the gap is filled would it have to refill? Once a gap is filled there is no longer a gap? Of course it could hesitate and do nothing but we are in a bull market for silver. It is up around 40% for 2020. Not a bad showing for the calendar year. The only thing the managers of silver are going to be managing in the future is the rapidity of the increase in price.