I don't have Spaf's magical way with charts, so this thread won't begin as informatively as his "Gold" thread did. But SLV has been behaving in a most intriguing manner since mid-December. So I wanted to start a thread for discussing the silver market.
How about it?
Lady
I am addicted to physical silver so I am tainted in any advise.
Articles on silver are all over the daily news sites I read. From a contrarian point of view that could be a bad thing? If everyone is talking about it, is it over? It's on my watch list. Now that it's the Flavor of the Month I'm trying to decide if I really should buy on the next pullback or if it's going to flash and be over.
This first article makes silver sound like a great longterm move though.
The Gold Bull Market Has a Silver Lining
By Adam Hamilton, 2/6/2009
"...One new long-term elite silver-stock investment we made in Zeal Intelligence in November in the heart of the panic was already up 81.9% as of this week. It pays big to be brave when everyone else is afraid. Indeed, since those depths silver has strengthened considerably. Over the past week it has averaged $12.46, 34.1% higher than its average $9.29 close in the week leading to its panic low.
This impressive run in silver has led some traders to wonder whether it is getting overbought and the short-term risk-reward equation is shifting out of its favor. With a good fraction of my own capital deployed in physical silver and various silver stocks, silver's near-term outlook intrigues me too. Of course I am very bullish on silver in a secular sense, but after my research this week I'm bullish on the coming months too...."
http://www.greenfaucet.com/technical...r-lining/42312
Hey! Look At Silver
By Brad Zigler, 2/6/2009
"Have you seen silver recently? The metal's taken out some significant overhead resistance. This is not just some technical prattle; silver's rally has developed some legs. ..."
http://www.greenfaucet.com/node/5856
Lady
Silver is great!! paper, bullion, coin, jewelry or clay. It don't matter to me. I bought my coin silver at 10.00 an ounce. It was 13.15 today so I'm not complaining!!
Looking for thoughts here on SSRI, a silver miner.
Do you guys see a possible cup and handle here? Same with SLV, cup and small handle with a pivot price of $13.50. Both may be something to watch for a big volume move to the upside.
"Don't let your highs get too high and don't let your lows get too low." Bullitt’s Market Blog
What Gold And Silver ETFs’ Relationship Means To You
By Tom Lydon on February 20, 2009
"Precious metals and their related exchange traded funds (ETFs) are being bought up as worried investors fear the consequences of government spending sprees and looming inflation.
Silver has enjoyed a renaissance of its own, as the price has rallied for the past four weeks. This is the reality of the recession beginning to drive investors to precious metals and tangibles. Silver Investing News reports that silver is outshining gold in the performance category, as it rose four times faster than gold. The gold/silver price ratio is down 7 points in the past month.
As governments devalue currencies to pay for our current financial crisis, speculators have increased demand for precious metals, reports Pham-Duy Nguyen for Bloomberg.
- The ratio tends to narrow in times of financial turmoil. In past recessions, it has hovered around 1:38. Today, it’s around 1:70, nearly twice what it was in the 1980s recession.
- Silver’s rising price is outpacing gold’s price: silver has increased by 21%, while gold has risen 13%.
- Motley Fool says that silver offers more potential for the upside than gold and is a good complement to gold exposure.
- Some predictions have the gold/silver ratio dipping to 1:20 in the current recession.
- The price ratio isn’t a driving force in the market, but it does impact silver more than it does gold.
Gold made advances for the third consecutive day as giddy investors in Asia ran for the cover of the metal safe haven. The precious metal is at its highest price since July, as low interest rates and government spending has many on edge, reports Glenys Sim for Bloomberg.
Gold has reached $975 an ounce. The gold ETF, SPDR Gold Shares (GLD: 95.77 0.00 0.00%), is up 3.3% in the last week and up 14.4% in the last month; up 31.4% over past three months.
UBS AG metals strategists forecast a sustainable price at $1,000 an ounce for gold and maybe even higher gains for this year.
Silver futures for March delivery reached $14.01 an ounce in New York. The silver ETF, iShares Silver Trust (SLV: 13.888 0.00 0.00%), is up 4.9% in the last week and up 27.7% in the last month; up 52.4% over past three months.
"
http://www.dailymarkets.com/contribu...-means-to-you/
I started watching silver a year ago based on a comment from Show-me. I now own the iShares Silver Trust (SLV), Proshares UltraSilver (AGQ), and silver miners (SLW and SSRI). I intend to hold them for quite a while.
Lady
If you think education is expensive, try ignorance. - Derek Bok
Major breakdown of SSRI yesterday. (Sorry about the individual stocks, but no silver miner ETF yet.)
SLW seems to be holding up nicely, but I have a feeling it's one of those things where people want to get into silver stocks and are buying the lowest price one because they think it's 'the cheapest'. Of course, we all know that price is just an arbitrary number.
"Don't let your highs get too high and don't let your lows get too low." Bullitt’s Market Blog
I looked at SSRI, SLW and PAAS when I was looking for my silver miner. Guess which one I picked? Yep, because it reached a pullback first, SSRI. It did well for a couple of months, but it's off the bottom of the bollinger bands now. Didn't have my stop set tight enough on that one. I'm a great believer in where silver is going, but I shouldn't have let sentiment cloud my judgement there.
One more tuition payment at ETF University!
Lady
If you think education is expensive, try ignorance. - Derek Bok