Silver next upswing

[Artificial Sheep]

Same Difference?

Shrinking supply of available debt doesn't bode well for the idea of hyperbolic price increases.

 

[d-lod]

The silver has mind of its own as far as its technical are concerned.
So far she has not reacted to gold's price rise. The bare fact of silver
is that it is chief by product of copper, gold and other industrial metal.
Those metals will be excavated, when industries are flourishing. The stock
market react six months in advance of future growth, if industries doesn't
need copper than less silver will be produced.

Right now the CMT also have changed their tunes for example Clive Maund - "C-leg convert" as per lhslancers3270 justify deeper correction in silver.

http://www.kitco.com/ind/maund/aug082011_silver.html

 

[d-lod]

The wave A was 49.78 to 33.05 =16.73
wave B could be 33.05 to 37.04/39.38/41.37/43.36

44.17 WAS THE LEVEL THAT SILVER MADE THE " B WAVE " TOP.


http://www.lbma.org.uk/pages/?page_id=54&show=2011&type=daily

17-Aug-11 4002.00 2431.350 2766.680
18-Aug-11 4032.00 2444.380 2804.870
19-Aug-11 4198.00 2542.700 2930.540
22-Aug-11 4349.00 2636.560 3015.950
23-Aug-11 4288.00 2594.070 2962.350
24-Aug-11 4208.00 2550.300 2912.110
25-Aug-11 3900.00 2381.680 2702.700

LBMA HIGHEST FIXING WAS 43.49

 

[d-lod]

The buying time for physical holder may come latter when the MACD shows positive divergence at the real bottom. The present upside movement is technical correction in a major downward wave.

Waiting to buy physical.

 

[d-lod]

This ain't Prechter's Wave Theory 917601


And I do not own any prediction on this thread. This is simply my interpretation of the knowledge that has been postulated by masters and confirmed by many members of our fraternity.

Waves has been defined and proven entity of EW. The likes of Prechter, Alf Fields and many other just try to rational out their analysis. If I close my eyes and pretend Sun has not risen than I am denying myself of rightful knowledge.

Based on my interpretation I have just changed my 3kg of silver purchased in year 2000, to gold and that earned me twice gold, if I would have invested my FRN in gold then. I use my interpretation for building my wealth. I am retired at early age of 43, because of EW.

again thanks for your rightful critic, I appreciate your contrary views.

Sold gold at two level and waiting to buy silver.

 

[d-lod]

http://www.arabianmoney.net/gold-silver/2011/05/28/how-gold-could-reach-13644-an-ounce-and-silver-853/


Fantastic futuristic ratio of Gold / Silver =15.9, while today it is 42.85 approx.

 

[d-lod]

d-lod,

Can you give us a ballpark projection as to what we'll see in the coming weeks and months? I honestly thought the pullback in the last 2 weeks would be deeper and was going to stock up if silver hit $32/oz. It never did.
Do you think this run up will reverse once QE3 is announced and how far back do you see silver going?

Thx.

http://www.clivemaund.com/article.php?art_id=67&PHPSESSID=0ab70029be5a95f30f784e9ebc9b1fdd

While we have had some trouble with the wave count over the past several months - most Elliot wavers get lost in a labyrinth of excessive mentation, which is why, as practical speculators, we don't bother with wave theory much and instead focus on more usable indicators like support and resistance levels and volume - it is now looks like a very dangerous wave pattern is completing in silver - the B-wave of a large A-B-C correction, and if this interpretation is correct, which is being made a lot more likely by the increasingly bearish action in gold and the dollar breakout, we could be about to witness a devastating C-wave crash in silver, which will wipe a lot of silver speculators. With the price and its moving averages now considerably more tightly bunched than they were before the May smash, there is the potential for the price to break down rapidly through these moving averages, despite their positive alignment, take out the support near the May - June lows and enter into a near vertical descent.

Clive always like to visit different camps, now again he is my guest.

 

[TomJerry]

http://www.clivemaund.com/article.php?art_id=67&PHPSESSID=0ab70029be5a95f30f784e9ebc9b1fdd




Clive always like to visit different camps, now again he is my guest.

So basically, it's a terrible time to be buying silver. Awesome.

 

[d-lod]

So basically, it's a terrible time to be buying silver. Awesome.

I thinks so but TomJerry;

please use your own analysis while making judgment,
.

Thanks

 

[TomJerry]

I thinks so but TomJerry;

please use your own analysis while making judgment,
.

Thanks

Of course. But you seem to know your stuff. More so than I.

When are you, personally, looking to buy physical silver? At what price?

How about gold?

 

[southfork]

This is it, last dip coming .

 

[d-lod]

This is it, last dip coming .

Irregular Correction
In this type of correction, Wave B makes a new high. The final Wave C may drop to the beginning of Wave A, or below it.

Fibonacci Ratios in an Irregular Wave

Wave B = either 1.15 x Wave A or 1.25 x Wave A
Wave C = either 1.62 x Wave A or 2.62 x Wave A

Commencement of wave C is expected and may take silver to a bit lower than $32. TomJerry that is your expected time to buy but again asking you to take decision based on your judgment and research of latest news. Any time Tsunami of Financial world may make new history. I have been wrong earlier.

 

[TomJerry]

Commencement of wave C is expected and may take silver to a bit lower than $32. TomJerry that is your expected time to buy but again asking you to take decision based on your judgment and research of latest news. Any time Tsunami of Financial world may make new history. I have been wrong earlier.

Any predictions on gold? I'm debating on buying physical as I type. $1804 now.

 

[d-lod]

Any predictions on gold? I'm debating on buying physical as I type. $1804 now.

http://www.goldismoney2.com/showthread.php?21077-GOLD-IN-THIRD-WAVE/page2

TomJerry

This is my thread for gold and it has following quote

Right on Curtman, but there are lot many similarities in Wave 1 of WAVE I and III.


...........................WAVE I................................................. ...........WAVE III

Wave A: 430.50 - 387.64 = 42.86..........................Wave A: 1912.02 - 1702.48 = 209.54
Wave B: 387.64 - 432.10 = 44.46...........................Wave B: 1702.48 - 1920.74 = 218.26
Wave C: 432.10 - 371.00 = 61.10...........................Wave C: 1920.74 - 1621.10 = 299.64


I am trying to look at similarity and holding camp with history repeats.

 

[d-lod]

........


........



formation of bear flag or rising wedge may damage progress in prices

 

[REO 54]

Silver,still above 40 for over 3 weeks.Now what?

 

[TomJerry]

Silver,still above 40 for over 3 weeks.Now what?

Not so fast my friend...

 

[Silver Art]

Silver,still above 40 for over 3 weeks.Now what?

Down Down Down silver will go from here. :bear_w00t:

 

[platinumdude]

Anyone going to be buying this weekend, or are you hoping for further pull-back?

 

[TomJerry]

Anyone going to be buying this weekend, or are you hoping for further pull-back?

This is what I'm struggling with. Need an update from OP.

 

[d-lod]

Silver,still above 40 for over 3 weeks.Now what?

REO 54;261457

The pattern may take upto to twelve week to form before moving either way, but it will make lower move.

 

[d-lod]

Anyone going to be buying this weekend, or are you hoping for further pull-back?

platinumdude;261983

Since May, I have stick to only one opinion that Silver is correction mode, and it will correct to lower level, at-least below 32. 35 is the right time to invest 1/5 th.

DYOD

 

[d-lod]

.
.
.


http://www.clivemaund.com/article.php?art_id=67

Silver has fallen back over the past week as expected, and although its uptrend from late June has now failed, which is viewed as significant, it managed to hold up above nearby support which may generate a bounce early next week. However, this should not be a cause for celebration by silver longs, as overall the picture for silver continues to look precarious in the extreme. We can see why on the year-to-date chart below, which shows that silver appears to be completing the B-wave of a large 3-wave A-B-C decline, the 3rd wave of which, believed to be imminent, is likely to be really severe and will devastate silver longs.

I have same opinion since May............

 

[silverblood]

If the correction is severe enough to devastate silver longs, then lovers of physical should prepare for a buying op. At least, that's how I see it.

 

[d-lod]

If the correction is severe enough to devastate silver longs, then lovers of physical should prepare for a buying op. At least, that's how I see it.

http://www.goldismoney2.com/showthread.php?16871-Silver-next-correction/page3

05-06-2011 09:01 PM #63
d-lod

Default Re: Silver next correction

The buying time for physical holder may come latter when the MACD shows positive divergence at the real bottom. The present upside movement is technical correction in a major downward wave.

CATCH 22

Buyer will be happy as eventually she is rising to make a big B, while non buyer will have great opportunity to buy at lower rates. It is win win for both.

 

[d-lod]

.
.
.
..............A = 49.78 - 32.32 = 17.46
............. B = 32.32 - 44.17 = 09.85
..............C = 44.17 - 10.65 = 33.52 (A x .6)
............................- 17.46 = 26.71 (A x 01)
............................- 28.11 = 16.06 (A x 1.6)......... dream come true

 

[d-lod]

.
.
.
..............A = 49.78 - 32.32 = 17.46
............. B = 32.32 - 44.17 = 09.85
..............C = 44.17 - 10.65 = 33.52 (A x .6)
............................- 17.46 = 26.71 (A x 01)
............................- 28.11 = 16.06 (A x 1.6)......... dream come true

33.52...........26.71....................Right now silver has taken support at 38.74 and returned back, breaking of this support will take silver to 36.42 and if that is broken than it will reach first Elliot wave support at 33.52.

 

[REO 54]

33.52...........26.71....................Right now silver has taken support at 38.74 and returned back, breaking of this support will take silver to 36.42 and if that is broken than it will reach first Elliot wave support at 33.52.

Well,metal getting pounded this morning.I suppose that the break of this support has begun.Sale comming?

 

[daozen]

****! I bought at $40! ..oh well, not sure 3rd world country buyers like myself would have found any at current $36, unless it stays like this for a few weeks. Prices on ebay are still at $48+ btw.

 

[Jodster]

I'm an amateur at all this, but it seems that silver is still very much tied to the USD. When fed policy finally uses inflation as a tool, silver will launch into stratospheric levels. Until then, I'll
Be thankful if I ever get 3 ounces for $100 again!!

 

[REO 54]

****! I bought at $40! ..oh well, not sure 3rd world country buyers like myself would have found any at current $36, unless it stays like this for a few weeks. Prices on ebay are still at $48+ btw.

No worries,I have been buying too.This just means it will be a little cheaper.....for a while.Keep on stackin':dance:

 

[KnowNothing]

So this drop, is this something that is expected to go for weeks? Days?

Whats the bottom prospective. Can anyone explain some of the jargon above talking about how if one thing is broken then it goes to the next "expectancy." And then if that is broken it will go the yet another low. Any shed light would be superb.

 

[TomJerry]

33.52...........26.71....................Right now silver has taken support at 38.74 and returned back, breaking of this support will take silver to 36.42 and if that is broken than it will reach first Elliot wave support at 33.52.

KnowNothing,

D-lod thinks 33.52 is the floor on silver, apparently.

 

[KnowNothing]

Cool thanks.

 

[Montecristo]

I don't do Elliot Wave Theory, so I may be wrong but dlod has also identified 26.71 if it drops below 33.52 as a posible target and then if 26.71 is broken, although he thinks it very unlikely, 16.06.

My own estimation, from looking at my grade school level charts, has numbers similar to d-lod. I'd be a partial buyer at the 32-34 range and then again in the 26-28 range.

 

[lhslancers3270]

I don't do Elliot Wave Theory, so I may be wrong but dlod has also identified 26.71 if it drops below 33.52 as a posible target and then if 26.71 is broken, although he thinks it very unlikely, 16.06.

My own estimation, from looking at my grade school level charts, has numbers similar to d-lod. I'd be a partial buyer at the 32-34 range and then again in the 26-28 range.

You saw the projections for what they might be worth in May I presume? 23 then 28 if 34 or the 32 and change lows do not hold. Hey this is a bull market Gold and Silver go down more than you want but not enough to make you feel comfortable buying more ya know?

 

[d-lod]

.
.
.
..............A = 49.78 - 32.32 = 17.46
............. B = 32.32 - 44.17 = 09.85
..............C = 44.17 - 10.65 = 33.52 (A x .6)
............................- 17.46 = 26.71 (A x 01)
............................- 28.11 = 16.06 (A x 1.6)......... dream come true

Already 32.78......................what next?

 

[d-lod]

KnowNothing,

D-lod thinks 33.52 is the floor on silver, apparently.

TomJerry

I said 33.57 or 26.71

Now as 33.57 is broken the next level could be reached as correction floor, and than last.

 

[d-lod]

You saw the projections for what they might be worth in May I presume? 23 then 28 if 34 or the 32 and change lows do not hold. Hey this is a bull market Gold and Silver go down more than you want but not enough to make you feel comfortable buying more ya know?

lhslancers3270;

The projection was based on new Wave B of 44.17. Right now silver will make upward move from 32ish as fourth wave and than final down which will give long awaited +ve divergence.

 

[TomJerry]

TomJerry

I said 33.57 or 26.71

Now as 33.57 is broken the next level could be reached as correction floor, and than last.

Well I didn't think 33.57 would be breached. Since it has, I guess I'm holding off buying phyzz until 26.71. There's no way it dips below that floor?