where will silver bottom in this correction?

i am thinking maybe close to $25 (perhaps even the high $24's)

what do you all think?

looks like there is rock solid support around $21 ... but will it fall that far?

 

Log in or Sign up to hide this ad.

I think this would best fit under one of the other half dozen silver threads. We don't need another.

 

I think the OP missed the visitor message on his profile page I left yesterday inviting him to the (generally) main discussion thread on this topic, so I'm just repeating it here for his benefit"

​

 

This is getting annoying

 

Now now...I, for one, hope this behaviour continues.

Personally, I'm using it as a market indicator. As soon as we go 24 hours without a new silver thread, I'm selling! :too-funny:

 

Who says it has to correct? As long as central banks are irresponsible and China's economy zooms ahead it will keep going up.

 

I have to agree to a degree. Hundreds of threads on the same subject, lots of speculation. Yet the same 50/50 guesswork on what's gonna happen tomorrow. I can beat the odds. If silver goes down to $14 next week, there's a 100% chance I'm going to buy.

 

I think the correction is over. You missed it.

 

I guess it depends on how you define correction.

 

Since it's a popular topic, why not have a form on the website
With both daily Silver and Gold prices listed and one large "Comment's" section where the latest rant's and raves can be posted.

This way people can discuss it in one particular area of CT

For Example, today's chart


Courtesy of Goldprice.org & silverprice.org copyright © 2010 GoldPrice.org Copyright © 2010 Silverprice.org

Said forum should be separate from each CT form another link at the lop menu leading to Silver/Gold Discussion board. Kind of like how we have Classifieds, Forum, and Gameroom.

Just a suggestion

 

I think silver will finish out the year right about at $30.00 oz.

 

I think Chocolate will finish out the year in my belly
(Sorry had to add some sarcasm)

 

I think silver will just barely break out above $30 per ounce by year end

 

I think silver will finish the year at some unknown multiple of $0.01/oz

 

silver hit $25.00 right around 12 noon 11/16 ... then bounced pretty big (back up to $25.60 already)

 

China announced today they are planning on implementing price controls to curb inflation. The news hit both stocks and commodities hard.

 

Also since Nov.5, The USD has gained in strength, and this has resulted in a downward slope for the S&P ( stocks) as well. This has probably also affected the price of PM also, as a stronger dollar will work against those with the belief it will become worthless ( the direction of the dollar is always questionable, so lets consider this a short term condition).

 

This article might help to shed some light on the question: http://www.gotgoldreport.com/2010/11/sunday-ggr-now-public.html

It is a long one, but worth while reading. The charts might be of interest.

 

We will have to wait and see if the federal reserve goes along with this quantitative easing part 2. if it does you are going to see metals soar again as they are going to buy 600 billion dollars worth of treasury bonds with printed money.

 

Silver (and gold) dropped because the comex raised it's margins. There is no other reason. Bankers who are providing shorts are pulling out all the stops to reduce the interest. This is why I say that retail small investors can't time this market. If you are in PMs, then it needs to only be with a long focus. Else, go elsewhere as you will continue to get bad haircuts.

For the short term, the focus should be on Ireland. If that government caves to the EU, Fed, and IMF then it's same old story of tax payers being forced into austerity measures to protect the backs to of the bankers. PMs will still rise over time. If Ireland balks at this and does like Iceland, then it's the beginning of the end for the Euro and the ramifications are unknown especially as applied to PMs. People and countries will continue to load up on PMs in order to try and preserve some of their wealth.

Both options that Ireland has will end up in the same place, BTW. However the difference is the speed in which they will get there.