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Silver Bullion

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Posts: 5

SaMJacKJoR

Banned

Joined: Jun, 2010

Posts: 644

Posted: Jul. 19, 2012 - 6:51 AM ET #1

Is now the time to buy @ 27ish/Oz?

0

atlasshrugged

All-Star

Joined: May, 2008

Posts: 11286

Posted: Jul. 22, 2012 - 10:37 PM ET #2

Personally I am waiting. but bear in mind that my system ONLY goes long based off of chart action first and foremost. fundamentals are secondary. and you ALWAYS sell based off the chart (the bad "news" will follow the breakdown in the chart).

this looks like it is still in a very clear cut downtrend that really started last August and more so since March of 2012. looks like it really wants to test its 40 week MA and/or 200 DMA. this would be in the 22ish and 23ish area.

all of the fundamental reasons to own precious metals make a lot of sense. but the charts say caution is warranted in my view. plus, in the short to intermediate term the "buy the metals because Bernanke will do QE3" angle may not be as reliable as most people think. also, the USD is building up for what could be a very large move higher (assuming no new QE just yet) and this in all likelihood puts pressure on SLV.

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SashimiKid

Veteran

Joined: Sep, 2009

Posts: 2090

Posted: Jul. 24, 2012 - 11:24 PM ET #3

45 to 27 in little over a year...like atlas i see the downward trend continuing...

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BET THE HOOK

Veteran

Joined: Jan, 2006

Posts: 1089

Posted: Jul. 29, 2012 - 12:01 AM ET #4

I am buying all that I can afford every week.

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mainmanmainman2

Veteran

Joined: Feb, 2011

Posts: 4357

Posted: Jul. 31, 2012 - 9:13 AM ET #5

no transparency.

if mexico has all out civil war i can SLV going up.

pay attention to the news. theyre a lot of conflicts.

0

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