I hate the fact that this nice run up is on light volume during the late summer, and now a holiday slump. I've been looking for something WAY north of 15 million shares to indicate a good peak, but it won't happen tomorrow.
We will see the best outlook, perhaps for a period of several years, when we have a huge surge in demand for silver as an industrial metal driving speculation. The amount stashed under your ammo in the bomb shelter does not matter, except to you.
I can't see basing ANYTHING on the remotest possibility of a total collapse of currency. Logic tells me that if something has NEVER happened before (in the case of U.S. dollar), it is a fairly good assumption that it is VERY unlikely to happen anytime soon.
I admit I did feel smug and more secure as Y2K approached because I could assure my family that I had at least several weeks worth stashed. Now it's in the bank vault where I don't have to worry about it (as much). I keep 40 pieces of silver in a draw string bag, just to remind me how cheaply a man's life can be valued.
Anyway...what kind of volume and scenario are you looking for, say in the next 4 years? I am curious.
I like the fact that the volume has been steadily increasing, especialy since a base was built at 18.2 for over 3 months. SLV is just now starting to go parabolic. Everytime there has been a morning pullback it has been met with new accumulation. I think SLV is going over $20 before it has any sig pullback. Even then the pullback will probably be back to the new support and old resistance $19.45. Right where we sit now. Sell if you want looking good still at this price IMHO.
Light volume can simpley mean there are less people in the market and many have got out because they don't have the stomach for it. Plus lets not forget there are tons of companies out there that are stable and paying 6, 7, and 8% dividends that many have fled to.
The amount still remaining are obviously buying silver hence the slow steady rise. Slow and steady will alway win the game.
"Logic tells me that if something has NEVER happened before (in the case of U.S. dollar), it is a fairly good assumption that it is VERY unlikely to happen anytime soon."
YOU KNOW WHAT HAS NEVER HAPPENED IN THE HISTORY OF TIME!?!?!?!? A fiat currency has not become worthless. NEVER EVER EVER EVER EVER EVER EVER!!!!!!!!!!!!!! EVER EVER EVER!! HAHAHAHA.. but don't worry.. I'm sure the dollar will defy all odds.
"The dollar" has actually failed or been dramatically devalued more than once during the country's history.
Google: "Not worth a Continental" or consider the devaluation since 1913; a 96% decline in purchasing power in less than 100 years.
As mentioned here, the current campaign of the Debtors in charge of monetary policy dictates a complete collapse as the end game; its a mathematical certainty as $Trillions/yr deficits on top of 10's of $Ts in unfunded liabilities and $100's Ts in derivatives complex, three quarters of which are leveraged interest rate swaps... The system has never been more unstable in our lifetimes, and history is littered with defunct fiat regimes.
Volume next week will set the short term traders' charts afire. If the fiats are deployed to take the paper price down, it just may be a bear trap. Up on low volume, down on high volume; you Pavlovian pup? Stop being so predictable, events favor a major whipsaw.
Please don't let a few nasty people drive you from the board. Question: How can the dollar go up in the long run when the Government is spending trillions more in deficit each year? I want to protect my assests with real money, gold and silver. Good luck everyone.
Well, I guess you told me. I now know everyhing I need to know. I guess you are not the least interested in what I know after 50 years saving coin and silver. I will not post on this board again. You have succeeded beyond you wildest dreams. Now go back to your bunker, you rude excuse for a homo sapiens.