Might as well post over here as at markets, it all goes the same place.
Like the fallout from the parabola noted in siver a couple months ago. gold gave a second chance to sell if you were so inclined.
Probably need trade under 1750 or so to put a fork in it.
I've remained comfortable that $50 was a very significant high in silver, maybe the generational high but we did get a longer but not necessarily higher bounce. FWIW, I sold my physical last week so you can poke fun at me.
A very poliitcal topic, strikes the the heart of a lot or quasireligious beliefs about the nature of things.
I'm just sayin', the charts at least deserve consideration.
The only way I'll ever have any gold is if I pan for it or otherwise mine it. I'd love to spend some time doing that some day....
I wonder what a silver quarter is worth these days? In silver anyway because its always worth a quarter.
Wait...I have answered my own question. Looks lika all that childhood coin collecting could pay off if I ever needed it:
I was just looking at the parabolic chart move in gold. My confidence in a silver top provides some supporting evidence.
In taking a very long term chart view, I try to avoid thinking about the daily news and gyrations.
From an EW point of view I'd like to see a close under 1800 to be confident of a top. Just jabbing it wasn't enough.
For myself, yes. For anyone else, make your own call, I got enough of me to worry about.
Thought I'd put that out there, fully aware that I could be placing myself in the stocks on the village green.
Think as always, it all depends. Does the ECB stand down as the EU fails or does it print money? Your guess is as good as anyone elses. I think the riots in the streets will cause the ECB to hand out money to who ever demands it.
30 years of watching markets tells me to sell rhino horns when they reach near vertical.
That is easy if you're already long- so what if you miss the top.
A lot tougher to initiate shorts.