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Updating My Guess About When To Buy Silver
www.investing.com/analysis/updating-my-guess-about-when-to-buy-silver-142144
Updating My Guess About When To Buy Silver
By Jim Otis | Nov 04, 2012 12:39AM ET
On a more serious note, I will not be able to see a bottom in this market until the price has moved back up high enough to break the downtrend line shown in red on the chart below. My idea of a good "Buy Silver - NOW" point is after the downtrend has been broken, and then prices correct back lower to perhaps 50% of the rise from the bottom to the top of the move that breaks the downtrend line.
(posted here in mid December)
The time has come, the walrus said, to speak of many things . . ., perhaps including my mid December point above about when to buy silver. The red line downtrend was broken in late August, and the price of silver is now only pennies away from a 50% correction of the move up from the late June low. Now looks like an excellent time to buy physical silver. Obviously the banksters can push the price of silver lower in the short term if they want to do that, but my WAG (and I emphasize GUESS) is that the price plunge in all commodities was timed to paint the best financial picture possible for the election, and I GUESS again that the low point for this correction is close in both price and time. An updated chart is provided below. DYODD is needless to say, but I need to say it again. :-) Cheers!
(posted here in mid December)
The time has come, the walrus said, to speak of many things . . ., perhaps including my mid December point above about when to buy silver. The red line downtrend was broken in late August, and the price of silver is now only pennies away from a 50% correction of the move up from the late June low. Now looks like an excellent time to buy physical silver. Obviously the banksters can push the price of silver lower in the short term if they want to do that, but my WAG (and I emphasize GUESS) is that the price plunge in all commodities was timed to paint the best financial picture possible for the election, and I GUESS again that the low point for this correction is close in both price and time. An updated chart is provided below. DYODD is needless to say, but I need to say it again. :-) Cheers!
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Updating My Guess About When To Buy Silver
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