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XAU/USD & XAG/USD - Gold & Silver Traders Thread

  • #5,861
  • May 4, 2011 11:56pm May 4, 2011 11:56pm
Not sure about silver since you guys are the experts but with gold, it was and still is to load more longs. My tentative target for mid-term is $1600 in the light of upcoming USD strength...
  • #5,862
  • May 5, 2011 12:35am May 5, 2011 12:35am
$1520 is the level to watch and see how it holds for the short term...
  • #5,863
  • May 5, 2011 12:39am May 5, 2011 12:39am
Is there such a thing as a silver expert? I think you just have to have deep pockets and big balls in this kind of market.

All we can do is make educated guesses. My educated guess is silver should find support around 35 or higher. I am going to hold hell or high water, that's just the way I play. The more it drops the bigger my postion gets. I just don't want my position to get too big LOL.
  • #5,864
  • May 5, 2011 1:08am May 5, 2011 1:08am
Gold is struggling with $1520... for now...
  • #5,865
  • May 5, 2011 1:26am May 5, 2011 1:26am
The average true range is coming down nicely. Its' hard to get the silver bull back with out a low average true range reading. Average true range shows "fear" really well.

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  • #5,866
  • May 5, 2011 2:37am May 5, 2011 2:37am
the brutal dips are insane on silver. i think im going to take the side line.
  • #5,867
  • May 5, 2011 3:16am May 5, 2011 3:16am
Silver prices plunged 7.5 percent to below $40 an ounce after margin requirements were raised three times in a week. The metal registered its biggest three-day loss since 1983, according to Bloomberg.
The Black Swan: The Impact of the Highly Improbable
  • #5,868
  • May 5, 2011 3:25am May 5, 2011 3:25am
Yes they are brutal dips.

Like the old saying goes, "those who pick bottoms get stinky fingers"

This is why I have over 30 different entry points on this silver trade. This makes it more manageable. As it goes down my average entry price improves.

That said, taking a sideline is probably smart.
  • #5,869
  • May 5, 2011 3:26am May 5, 2011 3:26am
i've got a huge position stucked @ 48 to 49 there. Dunt know whether can unlock the loss hedge or not.

expect more drops on the Silver as the margin hike will push it downward.
i expect to drop till about 36 there.

right now, the market is kinda in a weird condition, crude, gold and silver is all down.
  • #5,870
  • May 5, 2011 3:33am May 5, 2011 3:33am
Quoting MapleLeaf
The metal registered its biggest three-day loss since 1983, according to Bloomberg.
well, since it's spent most of that time in single figures that's not saying very much lol.....

beeb
  • #5,871
  • May 5, 2011 3:50am May 5, 2011 3:50am
Quoting sardonian
What does 'WL' mean/stand for? I've seen it a few times since I started reading this forum.
I had to think for some moments in order to decypher that one

WL = Warning Line. If you don't know what it is, google -> "Andrew's Pitchfork"

@beeb: talking of Andrew, I listened to the MP3. Nasty stuff. I found some news that someone even hit his car on the road right after the whistleblow!
"The reason I was born and came into the world is to testify to the truth."
  • #5,872
  • May 5, 2011 4:09am May 5, 2011 4:09am
Quoting allngap
i've got a huge position stucked @ 48 to 49 there. Dunt know whether can unlock the loss hedge or not.

expect more drops on the Silver as the margin hike will push it downward.
i expect to drop till about 36 there.

right now, the market is kinda in a weird condition, crude, gold and silver is all down.
bro, if you not over trade, sure u will survive..silver/gold always bullish in long term..i don't think silver can drop until 20..but 30 is possible.at this moment i keep away from the market..just set pending buy..
  • #5,873
  • Edited 4:22am May 5, 2011 4:11am | Edited 4:22am
Hope all doing well here . After serious intervention at the cost of gold perhaps paid enough so far & still chances more to tank as 1518 broken & next limy level 1476 before one last 1447 but supports remain strong at 1499,1496 & 1492 , to watch these areas .anyway a false wave down may continue yet .so not doing gold till all settle again. all risky game now-a-days .
some hizibizi charts in support!

fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #5,874
  • May 5, 2011 4:14am May 5, 2011 4:14am
Quoting MapleLeaf
Silver prices plunged 7.5 percent to below $40 an ounce after margin requirements were raised three times in a week. The metal registered its biggest three-day loss since 1983, according to Bloomberg.
Quoting xXTrizzleXx
Hey guys, thanks for your input!

<snip>
Thus, I'm just concerned that with the recent CME Margin hikes for XAG/XAU etc, that a move to the downside may be disproportionately larger in magnitude than a move to the upside for the added possibility of liquidation of positions due to margin calls; especially for late bulls to the move.

Whatever happens, it will definitely be an interesting learning experience, and I hope everyone's position is safe.
<snip>

I learned.

Regards,
xXTrizzleXx
  • #5,875
  • May 5, 2011 4:20am May 5, 2011 4:20am
http://www.barchart.com/
  • #5,876
  • May 5, 2011 4:23am May 5, 2011 4:23am
6000 messages....

hats off and congrats to XTrade

beeb
  • #5,877
  • May 5, 2011 4:23am May 5, 2011 4:23am
Quoting lilpip
Buy is the beat on the street.
Im right with ya, picked up eagles today @ $5 over spot which seems a bit high and bullian @ 2 over.
The guy in front of me picked up 13 oz. gold and 10 10oz. bars silver.
The shop where I use to buy silver is still charging $53 for the cheapest coins! Some other shops are asking ~ $45.

For that price I may buy a few coins and then I'm done with physical silver for the moment - it's time to move to GOLD (if I manage to get so much profit in order to afford it).
"The reason I was born and came into the world is to testify to the truth."
  • #5,878
  • May 5, 2011 4:43am May 5, 2011 4:43am
AUD is being dumped again... not a good sign for PMs...

But my green toiletpapers I got for cheap are doing fine
  • #5,879
  • May 5, 2011 4:55am May 5, 2011 4:55am
Quoting Fmfx
But my green toiletpapers I got for cheap are doing fine
The Japanese are getting it even cheaper

Jokes aside: there we go down again... I heard some saying like "Sell in May and go away." It seems to be true for commodities, too...
"The reason I was born and came into the world is to testify to the truth."
  • #5,880
  • May 5, 2011 5:39am May 5, 2011 5:39am
1490
Trade what you see, Not what you think.
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