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Silver Wheaton Corp. Message Board

  • chemaes44 chemaes44 Jan 18, 2012 3:08 PM Flag

    Where's the talk about silver's action

    This is pathetic. There use to be chat's during the day about how the silver price was moving, what was happening with the dollar etc. Now, nothing.

    Has anyone noticed that silver seemed to break out today, as the dollar seemed to break down, but that the moves seemed somehow stunted?

    Where's levi, dbtunr, seasonedspec, YDM, rat etc..I don't know who's name i forgot.. I'm curious what your opinions are. The lethargic move today was very unusual to me and it seemed silver should have been up 4-5 % today.

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    • Silver's lethargic reaction to declines in the dollar is starting to cause me some serious consternation. Is this the new normal, the paranormal, or the pause while silver equity investors get dragged behind the woodshed?

    • Well my friend, any chance this might be an indicator for the broader market? There was a big story out a week or two ago showing a correlation between economic/employment numbers like we see today during an election year. Historically we've seen 10-15% pullback in those years. Just a thought from the fringes.GLTA

    • Silver looks to be set up for the 20s again.

      These light-volume runups of "risk on" sentiment always end poorly !

    • or, buying opp.

    • it is bizarre action I don't trust. 220 futures contracts just changed hands on a down tick, so people fleeing. That is pretty big volume.

      If silver stays above 30.37 to 30.29 all is well long, else run for the hills.

    • silver looks like it is breaking down

    • I think SLV is in wave 4, going to go sideways to up until it hits the top of the trendline on the 1yr chart, this move off of the bottom looks too weak for the move off of the April highs to have just been a 3 wave corrective move, so I ecpect one more violent wave down in the next 3 weeks before a major bounce, this is off the top of my head because I dont have my trading platform up but its what I am looking for.
      I would be buying a swing long below the last low of 25.xx.

      SLW looks sickly, no rally with a strong market and higher silver equals bad ju ju when the music stops, the morning gap ups have been getting sold relentlessly.

      • 1 Reply to leviqxk
      • hey levi..>>this move off of the bottom looks too weak << yes, it does seem very weak.

        I was expecting further downward action too on the major trend down into the low 20's.

        This is the thing with Elliot principals, I can also see that the december lows "might have been" a 5th wave down but it's magnitude seems to fall short, it should have went further down.

        I think since we both see weakness in the move, the bottom line is to be cautious with legging into anything and or holding overnight because the violent moves often gap down overnight in an unforgiving way with no opp to get out.

        overnight so far it bounced off the range i gave at 30.37 to 30.29.... it looks like it is breaking up further at 30.72 currently. i think this leg has 31.16 as a target.

        I think what's happened is: how does one define the lower range for the dollar. Although I think it's broke it's lower range, some technicians have redefined the range a bit lower so that the dollar looks like it may not have broken down. I guess the trade "long" commo's will gain strength if the final bottom of 80.60 is penetrated hard to the downside but until then, any long move will be tempered.

        To the guy, who'll short at 2 pm tomorrow...I call that the pink or purple elephant trade. Why? Saying today, what you'll do tomorrow in trading is tantamount to saying today if I see a pink elephant I'll go long tomorrow, but if I see a purple elephant I'll go short. you had no business commenting.. where do you guys come from...if you said there was some FED report tomorrow at 2pm or minutes from the meeting and you believe it will say x, then at least that is something substantive, but to say anything else is saying you saw a purple elephant in a mini-skirt:)

        if yours was a heckle, take it somewhere else

    • Also of interest is the 'fight at 1667" gold...

      Silver looks stronger there than gold

      but that darn long gold short miners trade not helping here.

    • Talking points:

      (1)The last time silver closed at these prices was Dec 12. 2011.

      (2) Over the last 6 trading days, silver struggled to close above 30.12 and seems it will close squarely above 30.39.

      (3)Silver has come back to the neckline of a H&S breakdown that happened Dec 13 and which suggested significantly lower prices. The neckline seemed defined by 30.28.

      (4) The dollar index broke the downside of a range it has been in since jan 6, 2011. There is liquidity calling it at 78.75 from the current 80.74 now that it broke that neckline. The S&P downgrade move on Friday has been completely negated in the dollar..

      I think closing above 30.37 to 30.29 silver is a breakout.

      In the past silver would have moved up 1.50 to 2.00 on conditions like this, today it didn't..it just managed 0.75..

      oh where have the traders gone...lol

 
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