Silver spot price stock chart hopeful

Discussion in 'Bullion Investing' started by Backtomyquarters, Jan 12, 2023.

  1. Apologies if this is a bit off the coin subject & I am not a stock guru nor suggesting anyone act on this, however, the silver stock price has created a fairly nice cup & handle pattern starting from March 14, 2022 & beginning the handle on December 19, 2022. This is one of the most sought-out patterns for traders as it very often breaks out to the high side when the price raises above the highest price in the handle. Unfortunately, there is a possibility it does not hold or even breaks to the down side. Also note that commodities can act a bit squirrely! So fingers crossed! Note that gold stock broke out to the upside on 12-30-2022, came back & tested the breakout point, now going up for 4 days now.
     

    Attached Files:

    Last edited: Jan 12, 2023
    Joel Turner and Dynoking like this.
  2. Avatar

    Guest User Guest



    to hide this ad.
  3. jweb35

    jweb35 New Member

    I hope you're right.
     
  4. Marsden

    Marsden Well-Known Member

    For my part, I'm endlessly entertained by technical analysis and can't resist partaking. However I do make a point of reminding myself that fundamentals and especially events are in the driver's seat. Most days ;)

    Note this chart link is dynamic.
    https://www.kitco.com/LFgif/ag0030lnb.gif
     
    slackaction1 likes this.
  5. slackaction1

    slackaction1 Supporter! Supporter

    I have purchased some Silver at or close to spot as possible, but even at spot I am still wondering if its good buy or not? You purchased any U.S. coinage at or near spot in the 23 to 24 range? Except for Morgans and Peace dollars cheapest I have found with no dings or dents 26.00 to 30.00. But dang you got to scour the net and when you do find someone just wanting rid of coinage then are they trustworthy enough to do the business at hand. Thats always a huge concern of mine.
     
    AdamL likes this.
  6. I bought most of my silver coins when spot price was floating between $16 - $17 & bought a lot of peace coins, quarters, Kennedy's, etc. Partially due to the sinking dollar & because I really enjoyed the coins & coin hunting! So I bought about 5k in coins including Silver American eagles for $25 ea. Since then my cash in the bank has lost value & my silver has gained. I look at it as a bonus & understand the ups & downs. Slowed down but still buying deals at coin shop & some online. Just buy what you are comfortable with.
     
  7. Collecting Nut

    Collecting Nut Borderline Hoarder

    It goes up and it goes down. Who’s to say when, why or how?
     
    lardan likes this.
  8. slackaction1

    slackaction1 Supporter! Supporter

    Just getting a general idea from others on their take of situation is all. Will take negative or positive thoughts.
     
    lardan likes this.
  9. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    Well…. I am like the OP. The majority of my PM’s were acquired twenty years ago or better and I have been fortunate. These days I’ll buy individual coins that spark my interest but I am not chasing PM’s intentionally currently. Things have just been too out of whack the last few years and if economic conditions settle any time in the foreseeable future, I suspect that PM’s will settle too…. And you are right. With these bloated values, the crooks come out of the closet. I’m not real proud of the way our hobby represents itself right now and I am not going to carry a loupe and a magnet around to field test PM’s…. So unless they find their way to me (and they often do), I am standing pat on what I got.
     
  10. Jeffjay

    Jeffjay Well-Known Member

    I once had a full set of silver eagles that I sold when I needed some money. I sinse have wanted to replace them but with prices now being 10 to $15 over spot I won't buy. For years the rule of thumb on ASEs was $3 over. Disappointing but what are you going to do.
     
    GoldFinger1969 likes this.
  11. slackaction1

    slackaction1 Supporter! Supporter

    Hey I saw this NGC 2022 S eagle pf 70 ultra cameo but it says, "Advanced Release" is this the same as "First Release." or Emergency Release or the other tactics they put on them. Its mint Engraver Series "highest pedigree" he is asking 375.000.
     
    Last edited: Feb 1, 2023
    Randy Abercrombie likes this.
  12. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    I wouldn't drop that kind of cash for an ASE any more than I would drop four figures on a Franklin.
     
    Jeffjay likes this.
  13. slackaction1

    slackaction1 Supporter! Supporter

    Yeah me either Randy It's amazing what they ask.. and what the actually get...
     
    Randy Abercrombie likes this.
  14. slackaction1

    slackaction1 Supporter! Supporter

    First I’m seeing of this. What is NGCX? new grading system?
     
  15. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    I think it is their new system that is supposedly similar to trading card or comic book grading (Grades 1 thru 10). Some corporate bigwigs plan to get the young generation interested in coins as I understand it.
     
    slackaction1 likes this.
  16. BurrosCoins

    BurrosCoins Well-Known Member

    slackaction1 likes this.
  17. desertgem

    desertgem Senior Errer Collecktor

    So the plan is to hope that the comic book teenies, other similar mentalities. will buy the theory that a 1-10 grading system on anything " NGC- " offer a 10-point grading scale for modern coins, with the same precision," as a 70 point grading system? -OK, guys and gals and smart dogs, no grade below 7 , just get close to the reference photo, always give the higher possible...........
    How could it possibly go wrong??? Modern coins should be close to 9 or 10 anyway, but then they can let some of their true experts go....:)

    Jim
     
  18. slackaction1

    slackaction1 Supporter! Supporter

    So 10 really doesnt replace the 70 pt scale then Correct. So my math is off 70 = 10 I know failure. Sounds like this was to appease the bulk buyers from the mints bulk program. It gets their coins through the grading system to the network of bulk dealers and out to the public before most of the smaller guys even get their coins back.
     
    Randy Abercrombie likes this.
  19. slackaction1

    slackaction1 Supporter! Supporter

    I will wait and watch the TV CLOWNS try to explain this one. What's next PCGSX OR CACX IF THEY USE x ANYWHERE THE Ngc will probably sue em!!
     
    Randy Abercrombie likes this.
  20. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Cup-and-handles mean very little for silver or other PMs.

    Technical analysis simply doesn't work as well with PM's because there are so many variables that can affect the price.
     
    ldhair likes this.
  21. lardan

    lardan Supporter! Supporter

    Interesting read here. Most every post here at least a portion of I agreed with. I will say I did expect PMs to better over the last year to year and a half. Variables are a big part of PMs, but even they don't have an effect I think they are going to have.
     
    GoldFinger1969 likes this.
Draft saved Draft deleted

Share This Page