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SLV

Current longer term view of Silver: Bottom may well be in.Here is my current view of silver. It has been in a down channel since 2011. It just bounced up off of the channel mid-line supported by huge volume and rising weekly RSI. The total retraction from the 2011 high is between the .786 and .84 Fib levels. Of course it could still drop to the .84 level but I'm watching for a rise above the upper channel line for confirmation. Feedback always welcome. Stay healthy. Have a great weekend.
COMEX:SI1!Long
by goodguy
SLV: It won't be long before it's tarnished!Sorry, silver will be falling off a side of a cliff, along with the rest of the economy! Once people find out it's worthless, they will be casting it into the streets! Maybe it'll come back some day, but it could be generations before that happens! It's been generations since people used silver as money, and it's not coming back! People used to use floppy disks and cassette tapes too! We're much more likely to see EBT ration cards than a silver standard!
AMEX:SLVShort
by DanielSong39
4
Silver - Interesting Support Line Looking at the weekly line chart, Silver broke below previous lows but had rallied above. This morning's regular smack down is currently holding at or above recent low points. We could be trying to establish a test of the recent lows. Weekly stochastics are at oversold levels. On the monthly chart though, the cycle is still down and may take a few more weeks to work out a bottom. In the end, the paper markets are so far removed from reality that I'm not certain I will continue following. Certainly they have lost their ability to forward hedge price. I was happy to read an article over the weekend the mentioned that those in the gold futures market who were standing for delivery refused to accept ETFs in place of physical gold, attributing to the wide variance witnessed between spot and futures prices. The breakdown of international travel along with producers and refiners shutting down due to the virus situation resulted in a short supply of deliverables. Do you think that regulators will look at this and try to fix these markets? Don't hold your breath.
FOREXCOM:XAGUSDLong
by Glewis54
SLV: 2 wave on a 2 wave. Looks like a good opportunity!Silver looks like a great opportunity lately. Since I do not have the resources for or access to physical silver, I'm investing in iShares SLV ETF. Seems to be close to major support and near the bottom of a 2 sub-wave within a larger coming 3 wave. Please comment and let me know your thoughts! Thanks Dalon Anderson from High Altitude for the idea on silver. This is my modified plan on this 3-wave in SLV. Buy SLV at $15.5. Sell 75% at $39. Hold 25% longer term.
AMEX:SLVLong
by BlueDog624
Silver At 11-year LowThis precious metal is getting decimated after Chinese factory production(electronics) collapses in the month of February, down -12% in this trading session. This is going to be the deal of the century once a bottom is found as gold and silver are the only money to stand the test of time with over 5,000 years of recorded use as money, especially in a world where every central banks is currently hell-bent on devaluing their currencies. Silver took a dive at the beginning of the 2008 financial crisis, and then eventually exploded to new highs afterward. Once you understand the difference between money vs currency, you'll understand why gold and silver are important in the financial world. We're likely looking at sub-$10 silver/oz before the bleeding stops. Gonna be a bogo deal compared to prices last week.
TVC:SILVER
by PrepForProfit
If SPX looked like SLVImagine what the world would look like if SPX and SLV correlated as they did until around 2011? SPX would be at 1,400 instead of having risen to 3,400. Those of us who have been involved with precious metals know what PAIN is. I remember a few years back, I heard Mike Maloney or some other metals commentator say that when markets normalize, one will be able to buy a decent sized house for 1,000 ounces of silver. That thought has always been in the back of my mind. And now, as the Fed "bazookas" the economy with a new round of even greater QE, and markets continue to deteriorate, I wonder if that time is at hand. Up to now, the stock market's fall is a mere garden variety "correction" having not even hit a 50% retracement. It is beginning to expose the big sham that the debt-driven economy has been. Fixing debt problems with even more debt is just not sustainable. Kudos to Peter Schiff who has been calling the situation so precisely for years now. While things don't always play out in the timeline that we hope for, some things are just inevitable. What will the world look like if stocks correct as silver has done? Will the chart flip flop with precious metals reaching unimaginable highs? Again, those prices are only in dollar terms. When thinking of precious metals, it's best to always relate your holdings in ounces or other weight metrics instead of in dollar terms. That really defeats the whole underlying principle of buying precious metals. The dollar is merely smoke and mirrors.
AMEX:SLV
by Glewis54
SLV - Shaken . . . Not StirredWhere did this all come from? Dramatic market moves this past week even crashed silver and gold. Bonds were the only investment instrument that went unscathed. So much for the diversification theory that gold and silver would remain uncorrelated and offer protection in a weak market environment. Past debacles have shown that when margin call liquidations enter the market, everything goes down, but yesterday was a bit over the top, as were moves in many key companies across the board. As the dust settles, it's clear to see that SPX retraced 50% of it's recent move, DJI retraced .618% and Silver retraced a bit beyond 50% but thus far has not exceed .618 that could indicate a trend change. It's also important to note that yesterday's big move down still did not violate the top of Wave 1. In Elliott Wave rules, Wave 4 cannot violate Wave 1. Holding support here gives clues that SLV will rebound to the -.23 Fib level or 19.60. I held my nose and bought more physicals yesterday, as many of you also did. Also added to the equity positions of First Majestic Silver and Wheaton Precious Metals. Would like to pick up more RGLD if weakness continues. What are your favorite silver stocks?
AMEX:SLVLong
by Glewis54
4