Tuesday, August 16, 2011

Silver Update, poised for a rally?

The 6-month chart for silver shows HUGE upside potential, with a powerful uptrend starting from right where we are now. If the interpretation of the wave count is correct (this can be a big "if" of course, but it does look very clear at this point), then the point we are at now is close to the trough of the wave 2 reaction that should now immediately lead to a strong wave 3 uptrend, all this following the 3-wave A-B-C correction shown on the chart. Even without reference to wave theories the chart certainly looks encouraging as silver managed to break above the quite strong resistance in the $39.00 - $39.50 zone on its wave 1 advance which is now functioning as a support level, in addition to which its moving averages are now in bullish alignment and it is not overbought on short to medium-term oscillators as made clear by the RSI and MACD indicators on the chart. Everything appears to be in place for a big rally to get going - "all systems go" as they used to say.

Click here to see...
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19 comments:

  1. TK421August 16, 2011 at 10:12 AM

    Question... Has any one noticed how long silver spot has been over JPM stock price.. how long can they take these losses. What are they gona do if silver takes off .. We have to expect them to do something. If all was fare in the world then no worries but we know how evil they are . I dont expect silver to realy take off untill the end game. If it does take off it will bring about the end game as JPM goes down. Just (mho).

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  2. silvergoldsilverAugust 16, 2011 at 10:15 AM

    silver is taking off, a strong move through $41.5 and we should see some lemons being squeezed

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  3. AnonymousAugust 16, 2011 at 10:22 AM

    agree with TK421... expecting JP to make a move sooner or later. They wont go down this easy.

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  4. BaustiAugust 16, 2011 at 10:23 AM

    Well then, I will be drinking lots and lots of lemonade! :-)

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  5. TK421August 16, 2011 at 10:24 AM

    I dont have as much phzz as i want yet lol.. But who does. Errr (nice to see it jump up for a change.)

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  6. Ali GatorAugust 16, 2011 at 11:05 AM

    not to state the obvious, but it seems that the easiest way to know which direction silver is going in the next day is just to look at SLV options. it had to hit $39 today, based on friday's open int & volume. and on down days it goes down just enough to push the greatest number of at the money, out.

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  7. highrise408August 16, 2011 at 11:25 AM

    This silver trade is makin me go bonkers. We should be skimming past $55 right now, and yet, we cant even push over $40 for 20 min.

    FUCK YOU BLYTHE MASTERS!!!!!!!!!!!!!!!

    When we got that cunt strapped to a pole before we stone her to death, I'm gonna shove a monster box in her monster box.

    Yea... I said it.

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  8. IslandStyleAugust 16, 2011 at 11:59 AM

    @Highrise408

    Hahahaha. Monster box.

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  9. AnonymousAugust 16, 2011 at 12:02 PM

    @highrise408

    stupid comment. Useless.
    You feel better now?

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  10. AnonymousAugust 16, 2011 at 12:13 PM

    I've actually enjoyed this bouncing on the bottom area of 38 and 39...it's allowed me to buy more phyz on a budget.

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  11. felixAugust 16, 2011 at 12:25 PM

    JPM will not "go down" JPM will NEVER "go down". Not until they screw everyone up the wa-hooo screaming.

    This is not your local small town bank ... oh ... none of those left either eh?!

    These guys have v.e.r.y. deep pockets, make no mistake, and they have the power to jerk off silver ad-nauseum.

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  12. reefmanAugust 16, 2011 at 12:46 PM

    Anyone buy AGQ (silver X2 price)? I am considering swapping my CEF for AGQ to ride this next wave up.

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  13. UnknownAugust 16, 2011 at 1:00 PM

    LOOVVEE clive maund. I have a subscription

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  14. highrise408August 16, 2011 at 1:31 PM

    This comment has been removed by the author.

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  15. felixAugust 16, 2011 at 1:43 PM

    @reefman - I buy HZU and HZD (2X bull and bear). You can loose money twice as fast - hahahahahahahaha

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  16. reefmanAugust 16, 2011 at 2:40 PM

    Thanks felix. I just called my broker to ask about those. He says HZU is still in decay mode right now - but if we do get this massive move upwards to $50 again it could be huge. Make 6X your money.

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  17. TK421August 16, 2011 at 5:38 PM

    so after a full 24hrs we went down a .01 .Is this there new plan ? bore us to death..

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  18. AnonymousAugust 16, 2011 at 6:21 PM

    Why bother with charts and graphs if the silver market is so fucking manipulated ?

    I personally think that THEY will try to hold silver to a flat line if possible. They are not trying to make money off the future options. They will try to kill all the SLV, AGQ, and other ETF options out there. If the price stay flat, then most of the options may not worth nothing.

    Hong Kong silver trading is consistently ends up higher in prices. If I am the physical sellers, I would sell my physical contracts out there instead of the manipulated COMEX.

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  19. swattsupAugust 16, 2011 at 6:30 PM

    Silver/gold up - miners down. Same old, same old.

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