Is Silver Topping?

[mick silver]

http://www.321gold.com/editorials/moriarty/moriarty032511.html .... Bob Moriarty
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Mar 25, 2011

Price is always right. Opinions are often wrong. I’d love to take credit for being the first to say that but I’m not.

I wrote recently about silver getting toppy and said that when I saw a temporary top I’d say so.

So. It’s a temporary top. Silver has doubled since late August. It’s gone up about 45% since a small correction at the end of January and all sorts of pundits are claiming that silver is moving from weak hands into strong hands. Silver was up today for the 7th day in a row before collapsing and causing an outside day.

We may have a couple more days of rises but this market is getting pretty tired.

People who bought silver at $4 an ounce or $5 or $6, those are strong hands. Those are the strongest of strong hands. Every person selling silver today as it went through $38 sold at a profit. The strong hands sold into the weakest of weak hands. It’s weak hands buying right now, the guys who made fun of people buying $4 silver.

Ignore the news; silver has no more to do with Portugal and their financial problems or nuclear melt down in Japan than it has to do with the price of kitty litter. Guys reading the news know nothing about commodities or silver. Hell, half the silver bugs don’t know anything about silver, it’s the most over rated investment in the universe right now.

If silver goes up and a black lady won Miss America, the newsreaders say silver went up because a black lady won Miss America. If silver went up and a bullfrog won Miss America, they would dutifully write that silver went up because a bullfrog won Miss America.

Commodites go up and down in a far more random manner than anyone wants to admit. The last time I called a top, I was off by three days and almost $40 in gold. That’s close enough for government work. I might be off by a couple of days in silver and maybe a couple of bucks but I see way too much bullishness.

The next major move in silver is down. A lot more than the silver bulls want to face. When silver permabulls throw in the towel and give up, I’ll be a buyer again.


Mar 24, 2011
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[Silver Shield]

Here we go Bob put his foot down...

Let see where this goes...

Me, I will hold regardless.

[madfranks]

People who bought silver at $4 an ounce or $5 or $6, those are strong hands. Those are the strongest of strong hands. Every person selling silver today as it went through $38 sold at a profit. The strong hands sold into the weakest of weak hands. It’s weak hands buying right now, the guys who made fun of people buying $4 silver.

That's a good description, but I'd say the strongest hands are those holding and not selling, even as silver approaches $40 and continues up. Indeed, there are lots of weak hands jumping on the bandwagon while silver is testing new highs, and that might turn off alot of "investors" if silver takes a significant correction.

[mick silver]

to me i just dont see weak hands buying . most could not buy at 15 or 16 bucks

[Uncle Salty]

Bob, you are an idiot.

You espouse a trading mentality when the name of the game is accumulate at any cost. The storm is on the horizon and you want to be the smart guy and predict where and when the tornado will hit.

[Ponce]

For every plus there is always a minus.........the dollar is minus, minus, minus.......so.......where do you think that silver is at?

I don't see silver as an investment but rather a preservation of capital.....the same ammount of gas that I could buy when I started to buy silver I can still now buy with the same......plus some extra ;D

People will always trade something for something that is worth something......the dollar is worth nothing so that they will buy and trade with silver.

Is not the ammount of silver that you can use to build a 60" monitor, but rather how much food can you buy with the same ammount of silver.

[Kali]

If it continues to go up then "this is it".

SHTF

[mamboni]

Silver may go lower before it goes higher; or, it may go higher and then go lower. It may go lower than it goes higher, but it will probably go higher than it goes lower, though there is only a 50% chance of that. So if you ask whether you should sell now and book profit or hold for the long term my answer is an emphatic yes. ;D

[osoab]

Did someone say silver toppings?

[gunDriller]

Silver may go lower before it goes higher; or, it may go higher and then go lower. It may go lower than it goes higher, but it will probably go higher than it goes lower, though there is only a 50% chance of that. So if you ask whether you should sell now and book profit or hold for the long term my answer is an emphatic yes. ;D


well, maybe ;D

i think the stock markets are about to go into a humongous panic. they can only ignore current world events for so long.

that will force some gold & silver traders to sell - and i think will result in another short term buying opportunity.

but the general direction is just super-un-mistakeable ...

http://www.norcalblogs.com/bored/rocket.jpg

[mamboni]

Silver may go lower before it goes higher; or, it may go higher and then go lower. It may go lower than it goes higher, but it will probably go higher than it goes lower, though there is only a 50% chance of that. So if you ask whether you should sell now and book profit or hold for the long term my answer is an emphatic yes. ;D


well, maybe ;D

i think the stock markets are about to go into a humongous panic. they can only ignore current world events for so long.

that will force some gold & silver traders to sell - and i think will result in another short term buying opportunity.

but the general direction is just super-un-mistakeable ...

http://www.norcalblogs.com/bored/rocket.jpg



Darn, my joke was too subtle! If you read what I wrote, I actually said absolutely nothing of any use. :ROFL: I didn't think the sarcasm emotican was needed. ;D

[Ponce]

Yes Dr. it was of some use......new word for Ponce "emonican".

[Spectrism]

Silver may go lower before it goes higher; or, it may go higher and then go lower. It may go lower than it goes higher, but it will probably go higher than it goes lower, though there is only a 50% chance of that. So if you ask whether you should sell now and book profit or hold for the long term my answer is an emphatic yes. ;D


well, maybe ;D

i think the stock markets are about to go into a humongous panic. they can only ignore current world events for so long.

that will force some gold & silver traders to sell - and i think will result in another short term buying opportunity.

but the general direction is just super-un-mistakeable ...

http://www.norcalblogs.com/bored/rocket.jpg



Darn, my joke was too subtle! If you read what I wrote, I actually said absolutely nothing of any use. :ROFL: I didn't think the sarcasm emotican was needed. ;D


Are you trying to compete with Hillary Rod-in-ham Clinton? I watched an interview of that wretched beast and she fought hard to say absolutely nothing and to hold no positions on anything. Sawyer probed a couple times and saw the same old dodging. I love when she starts a rant like Billy boy used to do and throw out words like "absolutely" and follow with up or down, in or out, and most definitely we have a plan to procede contingent upon outcomes. In the whole interview with Sawyer, Hillary spoke with no commitments and gave no value.

[gunDriller]

Darn, my joke was too subtle! If you read what I wrote, I actually said absolutely nothing of any use. :ROFL: I didn't think the sarcasm emotican was needed. ;D


so, i can talk about whatever i want.

Bells, the surf contest in Australia, starts on April 19.

i'm learning to speak Brobonic.

sick air, dude ! ;D

[Silver Shield]

http://gold-silver.us/forum/general-discussion/crash-bob-moriarty-buy-silver/

[keehah]

Is Bob saying the silver price is going to drop because silver bulls don't want to face things? ;D

Any real 'silver bull' would not be surprised by $32 over the summer and over $40 next winter. Assuming things keep crumbling at the same pace.

[gunDriller]

one trading strategy that people use in the stock market that is obviously applicable with PMS is to sell a small part of your holdings of a company stock if you think it has hit a top, and then to buy more shares if you were right and the price falls.

that way you gradually build your holdings, without giving up your core position. whether it's stocks, PMS, or toilet paper.