September O/T Bullion Update

[morganman]

Summer is typically weak/stagnant for bullion
Both Gold & Silver seem stalemated with bouts of downside bias.
Lower pricing seems good for mkt to consolidate. U S dollar seems the
major mkt mover holding bullion rangebound

Most experts dont expect to much action until around Election time,
which also gives dollar more time to continue lower or develop a
lower base. Silver looks vulnerable to breaks lower and $24.50 looks
a key target, before getting badly oversold and then runs to higher
values. Great thing about owning the physical bullion is the lack of
volatility panic associated with paper assets,

Silver/Gold ratio has fallen from well over 100:1 to around 70:1 which
suggests silver was/is terribly undervalued and solidly within bull
market scenerio. In infancy for sure.

Fort those here with a few extra bucks, you might want to consider
looking at silver, as a hold investment. Say around 2 yrs

[Longstrider]

Thanks Scott. I will be looking.

[Kurt28]

I just built a small cottage industry around a ridiculous windfall purchase at a government auction.
Labor and shipping takes about an hour a day. I should have five years supply of materials.
Every dime of income is going to precious metals. Silver, gold and lead.

[morganman]

In this post 8 days ago i stated i looked for cash silver to test
the support way down at $24.50 from the $27 currently

This am silver loses $2.50 per oz to $24.22 and Sep futures to $24.07
Wow what a dead on analysis/trading analysis of which i seem
uncanny in predicting. Kudos for me LOL

Now Sept mkt is bouncing off that $24.07 and around $24.50 at
10:30 am oregon time. Very healthy for mkt before consolidating
and next run toward major $28 resistance above
So now resistance levels are $25/25.50 / 27.oo / 28.00 / $30
mega resistance. Look for mkt to retest $28 after a fashion as its
the 3rd stage resistance now. If $28 is tested say by yr end, then
im a genius-- LOL I cant help myself and bought another shit pot
full of 100 oz bars on this selloff. Dollar cost averaging is my thing.

This leg down was quite simple to spot as silver & gold were locked
in with low volatility and movement for 2 weeks solid

Wish i could predict vam prices as well LOL LOL
Guess i could just say Down !!!!! LOL

[Longstrider]

Thanks for the new info. I didn't think you could stay out. Good for you and good luck!

[morganman]

Longstrider (John) I am overweight big time on owning physical
silver and will liquidate a bunch when we get
a push say to around close to $28 or so.

Todays purchases made sense to dollar average
downwards the rest of my silver.

[Longstrider]

Thanks Scott. Makes sense. I just wish I had your skill at this. Stay safe.

[morganman]

Wed Sept 23, Silver mkt test 4th support level at $22.50, falling almost
$1.50 oz to $23 level. Gold taking a beating below $1900.

Not to often do we see a mkt break down and test 4 levels of
support, in this case especially as dow retreats along with U S
dollar. A solid case that Traders are buying further in to the stock
mkt and the false indicators.

Now the mkt is oversold and set for a upward correction soon
50 day moving avg broken monday
gold/silver ratio 82:1

[Longstrider]

WOW!! I was hoping you would comment on this mess. I see silver for sale, not much small gold for guys like me. Some is around. Thanks Scott.

[Kurt28]

There have been no changes in why I believe precious metals are a safe haven from paper speculation.
Thus, I consider this an opportunity to double down on silver investments.
I may be wrong, I may not the guy to listen to.
But I will offer an opinion for others to consider.

[Longstrider]

I always appreciate anyone's informed opinion. No one makes me take it. Thank you.