Silver and gold poised to POP today 7/3/13

[JIM F.]

Have a feeling the shorts are going to get squeezed today.

 

Here is an interesting article.

http://www.forbes.com/sites/etfchannel/2013/07/02/daily-gold-miners-bull-3x-shares-experiences-big-inflow-4/?partner=yahootix

 

What do you think?

 

 

[wdrob]

 

 

I think that Gold and Silver held today and that to me was of greater importance than the ETF info on NUGT but that was interesting read in helping understand the market a bit better.

 

With Gold and Silver maintaining it's footing gives me more confidence that we may have very well have found the bottom. I hope to see a continual rise back to the $30 + area, of-course, just as anyone else holding and continuing to stack right now. But I will take a sustained level if that is all it has to offer right now. To me it is the next best thing considering the discrepancies in most economic indicators and the administrations interpretation.

 

It is a fact that the economy can't be doing so well when over 50% of the income in the US is generated by the Government, both Federal and State. My brother just got a job, once again, working for who; the Government.

[Eric Hazen]

Gold is currently in a bear market. I think if you want to buy gold you should probably buy on the strong dips like we just had and then wait to sell when things come into balance. Breakouts only work on bull markets and gold isn't there yet.

 

From what I see on the charts I'd expect to go lower on Friday. Currently the 9(SMA) is acting as overhead resistance. We did go through today but it was sold off.

 

Here's what my signals are telling me:

Short term: hours to days, Bearish

Mid term: days to weeks, Mildly Bullish

Long term: weeks to months, Bearish

 

I'm in a short term gold position right now; I plan on buying more when the short term signal moves to bullish. Since we are in a bear these positions can be sold quickly.

[wdrob]

From what I see on the charts I'd expect to go lower on Friday.

 

What do you consider lower in regard to Gold when you say "to go lower"?

 

A big dip or just $10 or $12?

 

I personally think both Gold and Silver will maintain their position for a while with occasional small variations such as the a fore mentioned and in the mid term will slowly regain it's previous values prior to this last dip on the day they announced that they were not considering another round of stimulus.

 

I don't think Friday will show much different than today.

 

I Hope .....

 

 

 

[brg5658]

Could one of you also email me the winning Powerball numbers for Saturday? Being as how you are all trying to predict the future and all.

 

Thanks!

[Conder101]

Didn't look like much of a POP.

[RWB]

Hmmm..I think an "O" was left out of "POP."

[johnny9434]

Could one of you also email me the winning Powerball numbers for Saturday? Being as how you are all trying to predict the future and all.

 

Thanks!

agreed

[wdrob]

Could one of you also email me the winning Powerball numbers for Saturday? Being as how you are all trying to predict the future and all.

 

Thanks!

 

6, 18, 24, 36, 40 (19)

 

Market Speculation is nothing new.

 

 

[World Colonial]

Eric,

 

Your opinion is generically the same as mine. For the "longer, longer term", I am bullish but otherwise have the same opinion you do. This is the reason I am looking to buy the physical metal.

 

I think that gold and silver are both "oversold" now and should see a "bounce", but otherwise, that prices will be lower later (and silver maybe still quite a bit) before the "bottom" is in.

[wdrob]

Well my thinking that Gold and Silver had leveled out was dead wrong. Dropped again.

 

I am not expecting any "pop' but I wouldn't mind it leveling off for a while.

[johnny9434]

thank god i didnt pick up any silver today. fwiw.

[MarkFeld]

thank god i didnt pick up any silver today. fwiw.

 

Your comment implies (something along the lines of) anyone who bought today is in a losing position. But It had a high/low of about $1243/$1207 today. So you could have made money if you bought at the right time.

[wdrob]

thank god i didnt pick up any silver today. fwiw.

 

Your comment implies (something along the lines of) anyone who bought today is in a losing position. But It had a high/low of about $1243/$1207 today. So you could have made money if you bought at the right time.

 

No way possible unless you are buying at spot. And that was Gold prices you were quoting while he was mentioning Silver.

 

Silver ... .10 Cent gain by close.

[MarkFeld]

thank god i didnt pick up any silver today. fwiw.

 

Your comment implies (something along the lines of) anyone who bought today is in a losing position. But It had a high/low of about $1243/$1207 today. So you could have made money if you bought at the right time.

 

No way possible unless you are buying at spot. And that was Gold prices you were quoting while he was mentioning Silver.

 

Silver ... .10 Cent gain by close.

 

Fair points and my apologies for quoting gold, rather than silver prices. Silver had a high/low of $19.44/$18.63 and closed at $18.90. My point was and is, that just because a commodity closes lower on the day, doesn't necessarily mean that those who took a position that day, lost money.

 

 

[wdrob]

Absolutely. Someone is always making money......Just not me.

[Eric Hazen]

Looks like the charts were right about today. I think the bears are going to make another run at it next week but if the bulls can push back I think we'll see some upward movement.

 

Short Term: With just a little more upwards movement I'll be bullish.

Mid Term: Bullish as soon as the short term swings bullish.

Long Term: Bearish to range bound.

 

That's my two cents.

[wdrob]

Can we go over this one more time ..... Now which one am I .... The Bear or the Bull?

 

I keep forgetting my part.

[Eric Hazen]

I think we're in a range just for the next few months because there are a lot of overhead bulls who who want to recover their losses. I don't see much downside from here either, even if we do break below the $1200 hundred level.

 

If you are stacking, then buy the dips but if you're in paper look for a move above $118.40 on GLD.

 

If we don't have a strong move above $118.40 we'll see a pullback to last weeks low. I don't know how interested you are in paper but it tends to be the safer play when you are just looking to capture swings within a market.

 

I'd only hold metal for a long term play 2+ years and then it wouldn't be for growth reasons.