Goldtent TA Paradise

WATCHING SILVER

1. Highroller says:

   January 18, 2022 - 11:13 am at 11:13 am

   COPPER (1).mp4

2. Nautilus says:

   January 18, 2022 - 2:23 pm at 2:23 pm

   While anything can happen in the short run, I am now leaving towards silver not breaking out above $28 resistance until late 2022 or early 23.

   I could be wrong about that but I think we will know by Friday’s close. The damage done to the silver miners to me strongly suggest they will be consolidating in this lower range for at least another 6 months. If they do rally from here, I think they will be right back down in this area come July or August 2022. We’ll see. This is basically setting up for a 1-2 year moonshot. In the meantime, we will have to endure even more sideways action.

   Again, I could be wrong, but this week’s close is pivitol for me. If silver can close the week above $23.47 it’s possible the sideways consolidation is finally over.

   • Gold Learner says:

     January 18, 2022 - 3:13 pm at 3:13 pm

     Sir Nautilus,
     Great points!
     (i) Even if a slightly upwards bias is maintained by silver in the next few months, it gives us opportunities to trade the miners.

     (ii) I’d rather do that then get burned further in SQQQ or SRTY, both of which I hold in small quantities. The irony: both went through 1:5 splits to make the entry price “psychologically higher” for people trying to make money shorting the market with leverage. On the flip side, pun intended, I could flip 250 or so shares of these two “vehicles” once in a while to keep the cash register ringing while watching the PMs consolidate.

     Win-win? Sounds too good to be true. What am I missing?
     Sir CM always advises against the dangers of SQQQ and I’m glad I paid heed to his words.

     Then there’s UVXY for the even stronger guts traders.

     The biggest question remains: have we seen the top? Or another rinse and repeat to nominal new highs in S&P/Nasdaq lies ahead? Could the Fed surprise by sounding a teensy bit dovish the next time? One outcome looks likelier by the day: if the Fed sounds dovish and another bounce comes soon, whether new all time highs are made or not, new highs in the yields may eclipse even the most bullish targets!

     I’m referring to this chart from Stewart Thomson.
     https://galacticupdates.com/wp-content/uploads/2022/01/2022jan11bond1.png

     GL