NO SILVER LIQUIDITY IN LONDON
(kingworldnews.com)
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It will be a tough battle. I am hoping for a breakthrough of $30. If it retouches $50 or breaks through that and reaches new all-time highs, so much the better for guys like us who have been in the silver market for longer than some of the WSB guys have been alive.
Yeah. Timing is everything, but I don't kid myself into thinking I can call the top and bottom. I'm content to make a reasonable profit. Bulls make money, bears make money, but pigs get slaughtered.
Obligatory statement that I am not a financial advisor and am not giving financial advice.
I expect a midterm(1-3 years) top around the $75 level once there is a post-$50 breakout. Then I imagine it would breakdown to retest $50 as support.
I am a long-term holder who swaps between gold and silver to slowly accumulate both metals, with some platinum and palladium thrown in for good measure. So for me, I pay close attention to the precious metals ratios and how they are priced in other assets (stocks, real estate, commodities) more than their dollar prices. I am heavier in silver now, but will trade out some for gold when the ratio is advantageous. I will eventually convert some into stocks and real estate.
Keep in mind I view precious metals as a way to save and as a long-term hedge more than an investment or trade. My methods for saving, trading, and investing all differ from each other in how long I hold them and my risk/reward levels.
How about you? What are you planning if/when silver hits $65?
Someone once told me about taking care when trading silver: it eats like a mouse, but shits like an elephant. It's pretty accurate advice. Because of that, I normally cost average by accumulating it on dips, slowly, and in physical form - more as a long-term savings/investment than a trade. I could not resist loading up last March when it dropped with the rest of the markets.
There is strong support between 24 and 25 right now, so you made a nice entry. Next week will be telling since silver closed near strong resistance at the end of a day, week, and month. Trading in your situation, I might have been tempted to take some off the table, or even close out the trade completely and wait to see if the mid-27s are broken or rejected by the strong selling/shorting you pointed out is typical. But I agree that recent market sentiment, stimulus checks, and talk of a gold standard make holding on until April very compelling. From now through March deliveries, things could get very interesting. Good luck!
WWG1WGA
retail bullion dealers in the UK also look short on stock. BBP is scraping the silver barrel with their meagre offerings.
https://www.bullionbypost.co.uk/silver-bars/
would't have anything to do with asset seizures, could it ? causing a shortage in the market
Yeah the Basil III update is going to be massive. Big fan of Andrew Maguire and Kinesis!
My father was interviewed in kinesis episode #15
That's awesome! i'll pass the feedback as he likes the affirmation. I agree about Kinesis - I couldn't believe at first how separate of a market it is, lowest spot prices, and a place to purchase gold and silver on the dips.