Silver is on a tear right now.

[Goose-0]

You must be a magician Penzfan.......turning clad into silver. You gave me an idea. I always just spend my findings......not anymore, thanks.

 

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[penzfan]

20 ounces of Pure Silver courtesy of my local beaches last year. I love this hobby...

 

[Goose-0]

There's a little hope in the P M market today. Gold up $10.50/oz to $1328.40 and silver up 56 cents to $18.44/oz. Time to buy? Why not, but in a day or so, 'The big boys' will dump silver on the market and some will take profits to lower the silver price......as usual.

 

[jim4silver]

For the chartists, it appears that silver's close on Friday just touched the trend line at the top of the channel (use the highs of approximately Feb 12th, May 1st and June 30th). see below link.

If we break thru this trend line convincingly then we should easily get to $26 or so. If it bounces off and drops then maybe the bull will take a rest? I am surprised we are rising now with no new apparent reason(s)- we've had enough possible "reasons" for the price to rise over the past few years and nothing happened so I don't buy that it is from Brexit or anything else specific taking place. I got this wrong thinking the price would not get this close to $20 so maybe I am as good of a bear as I am a bull vis a vis price predictions.

Premiums are dirt cheap on silver so this is not a physical silver demand we are seeing causing the upward prices but instead playing in the various paper markets (Comex, ETF's, etc).

PS I used the recent high to dump some stuff I didn't like that I had been holding on to for a while (junky junk silver, culls and holed, ugly generics, etc). Fortunately I used the proceeds to obtain a partial collection of some nice modern commem silver dollars I got cheap with many recent year coins (5 star general, star spangled, girl scout, us army, etc), all in boxes with COAs some proof and some BU. If I was into ebay (I keep putting it off for some reason) I could double my $$$ on many of them after fees and shipping, etc. I will stash them for now since I got them for not too much over melt- the semi numis extra value is icing on the cake.

http://stockcharts.com/h-sc/ui?s=$SILVER&p=D&b=5&g=0&id=p17612675934

Just my opinion.

Jim

 

[Marchas45]

Here's another chart I would be looking at (if your into charts) and start seriously stacking. The red wavy line is the 200 day moving average and the straight red lines are resistance points. Now what does that chart say. Lol Boom!!!!!! $22 then $24 I am waiting for $24 as that's when I will know we are seriously heading up. (Remember that point in days gone by Jim?) Keep Stacking I have never stopped.

Heck I Forgot Happy 4th of July I Believe I'll Really Rember This One. Lol

 

[penzfan]

Great info guys. All I can say is my recent investment in Silver is up 27%

:-)

 

[Goose-0]

Although the U S market is closed today (July 4th), the world market isn't.......Silver is now at $20.30/oz.

 

[Tuberale]

Kitco silver is $20.41/oz at 9:37 am PDT.

 

[jim4silver]

I have been into PMs as a bull, stacker (not that so much now due to finances and past 5 years of bears) since mid 2000s and I have to say I have no clue where we are headed

I will just keep buying my semi numis stuff when I can get it cheap because this will go up when silver goes up and holds its value or goes up when silver goes down. If my business was doing better I would have probably bought even more at $14, $15, etc, but I bought as much as I could so I feel OK about that.

I am curious to see what happens Tues am when US markets get cooking. If we do hit $26 in the next few weeks then this may be the big one (like Fred Sanford used to always say- except now it's in a good way LOL).



Just my opinion.

Jim