Silver, the bottom or not the bottom….
I like the perspective, the chart has one story, and actions have other stories. Don’t listen to what they say, watch what they do.
I like the perspective, the chart has one story, and actions have other stories. Don’t listen to what they say, watch what they do.
“Could this correction go deeper?
Absolutely.
Commodity markets have always had a tendency to overshoot. They often climb far beyond what most investors believe is reasonable, only to fall much farther than fear alone would seem to justify. Emotional extremes are part of their character.”
SO … this all depends on your investing STYLE. (who ARE YOU?)
If you are a long term investor, you are already in and holding.
If you are an active short term trader, these fundamentals tell you nothing relevant (since nothing there has changed). Your focus is on gauging emotional extremes.
If you are a position trader, “the trend is your friend” and its merely time to pay attention.
pedro says the next decline will tell us if the trend has changed. retrace or new lows?
New lows.
We’ll probably reach $5,000 this year, but not above that. Silver will probably go to $55 again but bounce again this year but not go above $70 or so in the next rise. I’m all in, so I need to accept what comes. Hopium stinks however. It’s the worst way to trade. No lottery ticket this year.
Half back out today. Good luck to all who are still all in. I’m going to wait for a real breakout. The escalating war, which will last into next year, has screwed the gold and silver market.