Tuesday, July 7, 2015

Silver 1, Brodrick 0


Wow:



Whee! Keep stackin' phyzz!

It seems like only yesterday that the Broddinator said

But what could drive silver that much lower? Greece? It's a tempest in a tzatziki bowl. A collapse of the Chinese stock market, maybe, as traders and investors sell what they can because the value of their shares have gone up in smoke?

and then I said

Well, I guess it's good to question how silver could possibly ever make it to $10 again. As long as you weren't previously questioning how the heck silver could ever drop to $15, cos it turns out we're there now.

In fact it was only yesterday. And now silver is making - you guessed it - its move to $10.

So there you go. At least Sean didn't say that gold "should now start to catch a bid".

The moral of this story being that predictions are sorta like heroin, or autoerotic asphyxiation, or the new U2 album: try it once to see what it's like, sure, but don't make a habit of it.



4 comments:

  1. You left out the part where I said "I'm not encouraged by recent price action in silver." In fact, this chart was my analysis of why I thought silver would go lower. That's why we sold SSRI last week (mentioned in my Twitter feed, not on the blog). Good luck anyway.

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    1. OK, but to be fair you also said

      "Certainly global supply and demand support HIGHER prices for silver. And I put MACD on the bottom of the chart. It seems to be positively diverging from recent price action. Again, that would point to higher prices."

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    2. Yeah, it pointed, but silver went in the other direction. Go figure. I'm glad I took the hint from price action and exited SSRI and LSG. We'll see where prices settle. Good luck.

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    3. Well, no shortage of plays setting up. Why not short vix at 30? Or buy FXI in a few days? P/E is back under 9 supposedly.

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