$ Silver $

In hindsight, it appears that the failure at the 20-day SMA (~$13.53) was a large sell signal intraday, as that MA has been support since the early October rally.

Is anyone considering the long side next week if we get a confirmed test of support at the Nov $12.80 channel and 50-day SMA?
 
Jeepers, this is tough to pick.
There are two major patterns to chose from, one a continued spike down,
another a support buy.

This being the case, its likely a breakdown of previous patterns will emerge...........but.....yeah, id have to hang my hat long for now.
 
for those keeping score at home

silver is trading up nicely tonight in Asia

of course this could all change overnight

but for now ...

March 2007 - $12.88 last
 
Iran playing tough over the weekend. Oil/Gold, should move up with silver tagging along.

US equity resistance NAZ if it cant hold 2400, shorting Naz futures, with SL every time it crosses 2400. Yeah its going to get choppy. But if you want to catch a downward trend and ride it, for a few hundred points.

US dollar weakness, holiday hangover. USDJPY testing 119.00.
 
IMO Silver is a definite buy, there probably will be another dip towards 200ma, on another hand it might not. RSI, as always, leading the way in showing us early signs of recovery from pullback, MACD to follow. IMO it might dip towards $11.50 and that should be just an almost ideal buying opportunity expecting $15 area re-test & I am most definitely banking on eventually breaking $15, it might take a few attempts to do so, but it can also happen pretty sudden, considering commercial short position, which apparently is still there.
 

Attachments

These aren't the final settlement numbers for today so I might be off by a tick or two, but here's a comparison summary for the calendar year 2006 between Silver and Gold:

SILVER
2005 close -- 8.91
2006 close -- 12.94
gain +4.03
gain +45.23%

GOLD
2005 close -- 545.5
2006 close -- 636.7
gain +91.2
gain +16.72%

In short, Silver outgained Gold by a factor of 2.7X
 
Quote from Magna:

These aren't the final settlement numbers for today so I might be off by a tick or two, but here's a comparison summary for the calendar year 2006 between Silver and Gold:

SILVER
2005 close -- 8.91
2006 close -- 12.94
gain +4.03
gain +45.23%

GOLD
2005 close -- 545.5
2006 close -- 636.7
gain +91.2
gain +16.72%

In short, Silver outgained Gold by a factor of 2.7X
More...

which brings to mind if such data is predictive of anything beyond randomness. Perhaps a fruitful exercise that requires me to take some pencil and paper...

Thanks for the insight.
 
I made a serious error in a previous post comparing Silver and Gold performance over calendar year 2006. Using front-month figures supplied by eSignal in the Comex futures SI and GC contracts (not spot) here's a more accurate assessment:

SILVER
2005 close -- 8.91
2006 close -- 12.935
gain +4.025
gain +45.17%

GOLD
2005 close -- 520.0
2006 close -- 638.8
gain +118.8
gain +22.85%

So while Silver still considerably outgained Gold it was "only" by a factor of about 2X. Apologize for the earlier mistake.
 
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