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Re: SILVER

Thanks for putting up these Silverlogs EM!
I love watching these. Looks like silver is still poised to make higher highs, judging from that video.
 
Re: SILVER

DB008 said:
Thanks for putting up these Silverlogs EM!
I love watching these. Looks like silver is still poised to make higher highs, judging from that video.
Click to expand...

Yeah... oh, no, I mean NO...

This guy gives me the willies a bit...

Just to temper enthusiasm a bit, my analysis on the 4 hr chart suggests a good time to be on the sidelines or going short if anything.

Normally a Piercing Line is bullish... but here it comes off too short of a bear run to be of much (bullish) consequence and that gap up could likely be a Shooting Star on the daily, another bear Signal.
 

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Re: SILVER

Whiskers said:
Yeah... oh, no, I mean NO...

This guy gives me the willies a bit...

Just to temper enthusiasm a bit, my analysis on the 4 hr chart suggests a good time to be on the sidelines or going short if anything.

Normally a Piercing Line is bullish... but here it comes off too short of a bear run to be of much (bullish) consequence and that gap up could likely be a Shooting Star on the daily, another bear Signal.
Click to expand...


I think long Whiskers. Charting is a bit tough on the p/m's because those who command (manipulate in my HO) use charting to fool the chartists.

In fact I will go out on a limb and say we are only days away from US$30 silver. Its about sentiment and all those pesky enquiries.
 
Re: SILVER

explod said:
I think long Whiskers. Charting is a bit tough on the p/m's because those who command (manipulate in my HO) use charting to fool the chartists.

In fact I will go out on a limb and say we are only days away from US$30 silver. Its about sentiment and all those pesky enquiries.
Click to expand...

Not looking good for me explod... although I agree there has been some manipulation of the markets, but I'm thinking they are running too hard against the tide of 'que sara sara' and will get washed back to equilibruim.

That video fella seems to have too much emphasis on MA's and dubious H&S formations a bear followed by a bul in close succession and both run there distance.

Whiskers said:
Yeah... oh, no, I mean NO...

This guy gives me the willies a bit...

Just to temper enthusiasm a bit, my analysis on the 4 hr chart suggests a good time to be on the sidelines or going short if anything.

Normally a Piercing Line is bullish... but here it comes off too short of a bear run to be of much (bullish) consequence and that gap up could likely be a Shooting Star on the daily, another bear Signal.
Click to expand...

Just to fill in some 'signs'that this guy is ignoring...

That shooting star now has company on the daily chart. If it closes up here for the week, that will be a stronger sign of a fall... contrary to common expectation.

That combination around that spike high on the daily is also ominous for a fall. It's akin to the Falling Three combination, which usually forms in a Bear market to signify more falls. I'm thinking while not pictorially perfect, the message from the price action is the same. those three candles nudged a bit higher within the range of the last big green to the left, before falling below with a bit of gusto the red after... then there is the divergance.
 

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Re: SILVER

That shooting star now has company on the daily chart. If it closes up here for the week, that will be a stronger sign of a fall... contrary to common expectation.

That combination around that spike high on the daily is also ominous for a fall. It's akin to the Falling Three combination, which usually forms in a Bear market to signify more falls. I'm thinking while not pictorially perfect, the message from the price action is the same. those three candles nudged a bit higher within the range of the last big green to the left, before falling below with a bit of gusto the red after... then there is the divergance.
Click to expand...

Good points raised Whiskers. I tend to be sitting on the sidelines as I do not trade as such but merely hold physical for the long term which remains bullish for that purpose. However I naturally remain alert for signs of large corrections.

A shooting star of influence usually needs to be clear with a gap from the other candles in my view.

The near to double top formation in the short term signify a lot of changing hands at these levels. Momentum (open interest) is easing on the dips and has dropped off which leaves improved room for another test of the high. A breach of this would be very bullish.

On the support side it is strong now around the US$25

Now in all of this we have seen a considerable rally in the US$ since the silver top. I feel that this is temporary and at any weakness on the US$ silver will break the high with relative ease.

All just my opinion. Whiskers If you would be good enough to post a weekly on silver like the one above (good clear chart)for the last 12 months we may see a clearer picture.

cheers
 
Re: SILVER

Found one Whiskers. The three month weekly looks bullish and our star was repeated early in this quarter.
 

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Re: SILVER

explod said:
..Now in all of this we have seen a considerable rally in the US$ since the silver top. I feel that this is temporary and at any weakness on the US$ silver will break the high with relative ease..
Click to expand...
Reasonable summary of where I am as well Explod.

I'm still working on mastering the Three Black Crows, now there's the Falling Three Combination. It's takes a bit of keeping up, but don't get me wrong, I do value Whiskers' technical analysis highly, and there is some tech divergence on the recent high.
 
Re: SILVER

Logique said:
Reasonable summary of where I am as well Explod.

I'm still working on mastering the Three Black Crows, now there's the Falling Three Combination. It's takes a bit of keeping up, but don't get me wrong, I do value Whiskers' technical analysis highly, and there is some tech divergence on the recent high.
Click to expand...

Whiskers is spot on with his research. It is the combination of all inputs that gives us the best results.

Your own enquiries and submissions are very helpful also, you have come a very long way in a short time.

The precious metals threads are where we question the value of the entire economic system. The banking and investment professionals do not like that from all points because us sheeples are learning to think for ourselves and do not really need them.
 
Re: SILVER

explod said:
Found one Whiskers. The three month weekly looks bullish and our star was repeated early in this quarter.
Click to expand...

That was just a star (or doji) explod, this one shaping up on the weekly is 'shooting' ie above the previous candle body.

While a shooting star is not a sell signal in itself, it does signify a bit of procrastination by the market to progress the gap up further.

Logique said:
Reasonable summary of where I am as well Explod.

I'm still working on mastering the Three Black Crows, now there's the Falling Three Combination. It's takes a bit of keeping up, but don't get me wrong, I do value Whiskers' technical analysis highly, and there is some tech divergence on the recent high.
Click to expand...

Yeah Logique, gotta keep on eye on three's ;)... as they say two's company, three's a crowd.

The Falling Three is not technically correct, as I said before, BUT it reinforces the pattern developing in the lower time frame charts.



Looking at the weekly time frames (back to 2002) it has hit the wall a bit and would require something special to push it on very far from here. I still favor a bit of consolidation at least, but if that shoting star forms this week, it would make an evening star if the next week closed below the half way point of the previous up candle about $26 I think, then a significant correction is on the cards.
 

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Re: SILVER

Some collapse.

http://www.bloomberg.com/news/2010-...demand-for-precious-metal-as-alternative.html

Gold fell for the third straight session as a strengthening dollar eroded the appeal of the precious metal as an alternative asset.

The euro fell to the lowest in two months against the dollar on speculation that Europe’s debt crisis will spread. Investors also sought the U.S. currency as a haven amid concern that the conflict between North Korea and South Korea will escalate. Before today, gold had gained 24 percent this year, touching a record $1,424.30 an ounce in New York on Nov. 9.

“We are seeing people turn to the dollar and shedding risk assets,” said Matt Zeman, a metals trader at LaSalle Futures Group in Chicago. “Gold is having a tough time along with other risk assets.”
 
Re: SILVER

In the interests of balance.

http://www.kitco.com/ind/Townsend/nov222010.html
How HIGH Could Silver Go in December?

John Townsend sees 3 to 4 good weeks ahead for silver (and gold). He tips silver to run to $30-$33 in this leg. Interesting his mention of the long historical consolidation period of 33 months, saying that this makes his predictions conservative.

Nice charts in this article, and some sage advice - worth a visit.
 
Re: SILVER

Logique said:
Some collapse.

http://www.bloomberg.com/news/2010-...demand-for-precious-metal-as-alternative.html

Gold fell for the third straight session as a strengthening dollar eroded the appeal of the precious metal as an alternative asset.

The euro fell to the lowest in two months against the dollar on speculation that Europe’s debt crisis will spread. Investors also sought the U.S. currency as a haven amid concern that the conflict between North Korea and South Korea will escalate. Before today, gold had gained 24 percent this year, touching a record $1,424.30 an ounce in New York on Nov. 9.

“We are seeing people turn to the dollar and shedding risk assets,” said Matt Zeman, a metals trader at LaSalle Futures Group in Chicago. “Gold is having a tough time along with other risk assets.”
Click to expand...

Well Paul Krugman did say America needs a war to recover the economy. I think the USD is just the flavor of the moment due to problems in Europe and Korea but the biggest problem the US hasn't changed much so i would still expect the USD to continue to loose value again soon.

I read somewhere that the USD is fundamentally the most un-sound currency in the world, not sure how much truth there is to that but i'm sure its up there.
 

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