Posts by quiettrucker12

Melissa Sanchez17 said:Check it out—our buddy Melissa Sanchez17 called this September correction coming!

That guy clearly isn't a permabull. Pay attention: true permabulls never see these kinds of corrections coming. They’ll stay glued to their positions all the way through the peak of the final bubble a year from now. Permabulls only see green. That's just how it works—as long as we're riding this bull market, they'll be blind to the downside.

dustyheron5 said:quiettrucker12, let your colleague be😉.......a decent trader knows they have to pivot😍 when the market landscape shifts.....

Right now, it’s a toss-up whether PM stocks and spot prices will keep climbing.....because if Goldman Sachs decides to pull equity back into a correction......PM prices are going down with them......

But we'll see 🤣

Let him? No, he’s the one driving me crazy. ☕.

dustyheron5 said:quiettrucker12, let your colleague be😉.......a decent trader knows they have to pivot😍 when the market landscape shifts.....

Right now, it’s a toss-up whether PM stocks and spot prices will keep climbing.....because if Goldman Sachs decides to pull equity back into a correction......PM prices are going down with them......

But we'll see 🤣

I doubt it. I haven't been this bullish on PM in a long time.

Anthony Evans78 said:Look, I’m not trying to be rude, but anyone can claim "it’s going up this much" or "it’s dropping that far."
What actually matters is that technical analysis is useless when you're dealing with the precious metals market. You might as well throw your charts out the window. What's the point of staring at old data and trying to predict the future based on what's already happened? It’s basically just reading tea leaves or pulling tarot cards. Especially in a low-volume, manipulated market like silver—where price action often has nothing to do with actual supply and demand. When you have millions of shorted ounces and massive margin hikes hitting the tape, how is a line on a graph supposed to help you?
Did you somehow know the correction was coming from $1,920 down to $1,520? Sorry, but I don't think anyone saw that coming, not even BlackRock or Ben Bernanke 🙂
If Ben Bernanke is so irrelevant, then why are they constantly suppressing the price? It’s hard to argue he doesn't matter when he serves as the ultimate indicator for a dying dollar and the inevitable burst of the massive US Treasury bubble.

Technical analysis isn't just about "chart patterns"—there are a million ways to read the tape. Do some reading.

Anthony Evans78 said:Look, I’m not trying to be rude, but anyone can claim "it’s going up this much" or "it’s dropping that far."
What actually matters is that technical analysis is useless when you're dealing with the precious metals market. You might as well throw your charts out the window. What's the point of staring at old data and trying to predict the future based on what's already happened? It’s basically just reading tea leaves or pulling tarot cards. Especially in a low-volume, manipulated market like silver—where price action often has nothing to do with actual supply and demand. When you have millions of shorted ounces and massive margin hikes hitting the tape, how is a line on a graph supposed to help you?
Did you somehow know the correction was coming from $1,920 down to $1,520? Sorry, but I don't think anyone saw that coming, not even BlackRock or Ben Bernanke 🙂
If Ben Bernanke is so irrelevant, then why are they constantly suppressing the price? It’s hard to argue he doesn't matter when he serves as the ultimate indicator for a dying dollar and the inevitable burst of the massive US Treasury bubble.

Not the exact numbers, no. I don't get why you're nitpicking; go back and actually read the posts. Gold was massively overextended above the 200 DMA back in August, and something like that is going to happen again, just much more extreme, during the final bubble phase.

Silver Argentum
If Ben PM doesn't matter, then why is he constantly driving prices down? Give me a break... if you think he's irrelevant, you're missing the point. He’s the literal indicator for a dying dollar and the massive, unstoppable bubble in US Treasuries.

I already told you—the only reason that correction didn't tank past 1520/26 was because of Ben. I laid out the argument, go read it. Besides, his "move" has nothing to do with the PM. Is it really that hard to grasp how much more weight the stock market carries compared to the PM?

How on earth could anyone claim they saw that massive drop from 1,920 down to 1,520 coming from thirty thousand feet if predicting price action is supposedly impossible? It’s absolutely doable. Calling these predictive methods "technical analysis" is a stretch. Look, I don't mean to offend anyone, but there is a massive gap between being a "permabull" and actually understanding how prices move. What do those permabulls even say when the market tanks? They watch a 20% slide and just mutter, "it'll recover in the long run." Well, yeah—we're in a bull market, so that's a given, but it isn't exactly profound insight. I can't learn anything useful from those kinds of patterns. Maybe someone else can.

Anthony Evans78 said:Anthony Evans78, how many times are you going to flip-flop? 🙂
I know it's tough to swallow, but you have to realize that TA in the PM market is about as useful as a screen door on a submarine.

I haven't changed my mind. I said the correction was likely finished, and now I'm certain it is. I suggested we might hit 1900 before dropping and consolidating. If I were a "permabull," I wouldn't have been able to learn from this and avoid predicting a crash from 1920 down to 1520. I also said buying silver at 28-29 was an incredible opportunity. In the actual trading world, people shift perspectives constantly; here, the only real debate was whether the floor is 1520 or somewhere in the 1400s. Predicting everything is impossible—nobody can do it. The true permabulls are going to get absolutely wrecked at the top. In a way, I am one too; I never once questioned whether the bull market would continue, unlike the crowd that will probably mistake a dip from 1900 to 1600 for the end of the cycle. Ben jumped in and kept silver above 26 and gold above 1800—he did that because of the S&P 500, not because of some insignificant PM moves. So, let's talk about this "changing minds" nonsense. About what exactly? The bull market? Or what?

Melissa Sanchez17 said:It’s actually pretty wild when you look at the numbers—an ounce of gold is still sitting $120 below its all-time high if you're looking at the Dollar, yet when you measure that same ounce in Euros, it’s only about $15 shy of the peak... which means it’s already hit about 98% of its record value in Euro terms. Pretty crazy math if you think about it.

That matters for the Dollar, but it doesn't mean a thing for gold itself. It's all about the Dollar plus emotions (the secular bull run).

Anyway, I'm walking back what I said about the miners. They’re following the play, and it looks like they don't give a damn about the stock market; they're strictly focused on precious metals. Looks like silver broke through the 150 mark in premarket trading. Honestly, it doesn't matter because silver already nailed that move on the futures. Now we wait to see if we get another leg up today or if it's just a breather before things really kick off this Friday before the bell.

Gold is steadily marching toward that 1900 target. Silver is lagging behind because it’s stuck at the 150 DMA. Once it breaks through that, there's a clear shot up to—and maybe even past—37 on the spot price.

http://stockcharts.com/h-sc/ui?s=SLV...d=p71118595384

Right now, precious metals are a much safer bet than miners. The stock market has been flatlining since its May peak, and it's going to need some serious consolidation before it moves again—if it ever does. In the meantime, precious metals have a green light to go test those highs. Expect a pullback after that, then a breather before this secular bull market continues its run.

The USD is feeling the squeeze again. If it cracks—and if gold manages to nudge past its 10-day moving average—we could be looking at a quick jump back to 1900. Today's rally in mining stocks definitely hints that this scenario is on the table, but everything still hinges on the USD, the stock market, and how things are playing out over in Europe.

dustyheron5 said:If things go south in the US, Ben is going to hit CTRL + P twice as fast—and that gold will be gone faster than two shots of bourbon.

The Federal Reserve chairman is doubling down on his promise to "do whatever it takes" to protect the US from the fallout of the Great Depression as American political leaders gear up for high-stakes negotiations to prevent a massive debt default.

If the Dollar keeps sliding until it hits rock bottom, it’ll end up being too strong even for Ben’s little toolkit to handle. This can't last forever. We might see the DXY drop to 78, maybe even lower, but once it does, it has to snap back hard—tearing through everything (stock market, precious metals) in its path. The deeper the fall, the bigger the bounce.

neondriver5 said:Keep your cool, folks—especially your blood pressure... the numbers fluctuate constantly, and it seems like the timing of everything just depends on whoever's sitting in the big chair at the top.
I’m telling you, I have a feeling this whole dip is just a distraction. It’ll likely bounce right back up to the 1500-1600 range soon enough, but hey, we’ll just have to wait and see if I'm right.

Honestly, as long as we haven't crossed that 1800 mark plus change, there’s still a chance the correction keeps going down toward 1520. It's more likely it stays above 1600, but don't rule out a dip even lower than that 1520 level.

It’s highly probable that hitting somewhere around 1,760 was the absolute peak of this bounce following the correction. We’ll likely slide back down toward the 1,600 mark and settle into a period of consolidation before the bull market picks up steam again. That said, I think the odds of a deeper correction—dropping below 1,520—are incredibly slim.

Dollar General is climbing, so I’m out. It vanished from my screen in seconds—so much for all that "paper strength." ☕

Look, if we’re talking buy and hold, picking up silver at $27 or $28 was a solid move. But from a trader's perspective? I totally missed the run on miners, watching them climb from just under 500 on the HUI to nearly 540. Total bummer. Now I'm stuck in that classic dilemma: bank the profits now or ride through this minor correction I'm expecting—maybe a $70 to $90 dip.

I honestly thought we were headed for another leg down below 1520, but Dollar General suddenly flipped the script. That said, I’ve been saying for a while now that grabbing silver around 27 or 28 was a massive opportunity for anyone looking to buy and hold physical metal. I’m not sure many people actually had the guts to pull the trigger, though. Look, there isn't much of a difference between buying at 28 or 24—it's all dirt cheap. I mentioned this back when we were sitting at 28.

The market action over the last few weeks has probably been about as brutal as it gets. If you're trying to trade this, you have to be ready to flip your entire thesis on its head in a split second. Most people just can't do it, or frankly, they don't want to.

When it comes to long-term holding, I still stand by what I said: those 27 or 28 levels in silver were a steal.

The current "issue" is that we’re closing in on 1800. That means there's a massive chance for a quick $70-$90 dip. You just have to be ready to hold through it, because honestly, we could just rip straight up, or this correction might be nothing at all. Today's jobs report is our first real shot at seeing which way the wind blows.

Looks like we might be heading back to those Silverstein Properties leasing days. If silver finally takes off, they’re sitting on a massive stash bought at rock-bottom prices...

Anthony Evans78 said:Mining stocks are just pieces of paper.
The companies can always just churn out millions of new shares, diluting whatever you actually own until it's worthless.
And they can always tank to zero if the banks decide to pull a political or financial stunt on them...

🤦🙂

At least silver is looking pretty good right now.

Are miners just a paper asset? So a Bubble in mining would basically be a Bubble in paper? Please. Mining companies are gold factories and all that—that's where the actual value gets "created."

neondriver5 said:I’ve been weighing the idea of selling while we're still sitting on these branches, then picking things back up once it dips toward 1500... but honestly, I can't be bothered to pull the trigger right now.🤷

This whole sentiment should have been posted back in late summer or early fall when I was actually preaching this stuff myself. Sure, a massive correction followed, but there’s a catch: I highly doubt many people actually stepped up to buy at 1520 or grabbed silver at 27 on any given day. In moments like that, everyone assumes it’s going even lower. It’s very likely this bull market just left all the "smart money" standing on the curb while the plane took off without them.

neondriver5 said:Sure, it might touch 1900, but I expect it'll eventually retreat back down to that 1500 level we saw recently.

That's possible. Honestly, it'll probably dip below 1600 first before hovering around 1650 for a while. There's also the other scenario: it rockets past 1900, which would mean we're entering the initial bubble phase. Either way, I don't think it's selling time yet. Once that downward trend from the correction finally snaps, I want to be heavily exposed to miners. I don't want to miss out if they decide to break out of consolidation, even if I have to risk a certain percentage of my portfolio to do it.

Gold is strictly tied to the Dollar right now, and from where I'm sitting, the Dollar looks like it's on its last legs. It's an election year in the USA, and if this whole thing is a scripted scenario, who am I to fight it? If there is a script, it’s clearly designed to pump stock prices, and so far, it's working beautifully. Gold rising is just a byproduct of the falling Dollar—and let's face it, the broad decline of the Dollar has been the primary fuel for this bull market (Quantitative Easing 1, Quantitative Easing 2, and now maybe infinite Quantitative Easing).

By the way, everything happening with the US stock market, the Dollar, and gold over the last few weeks is absolute madness. It's a market stripped of all technicals; you can't apply any standard tools to actually gauge what's happening or what's coming next. Anything could happen. But realistically, the Dollar might have already given up the ghost. If it were to rally in a month or two after hitting rock bottom, it might just be a relative move against an even weaker Euro. So, anything goes. Right now, though, the S&P 500, miners, and gold are all climbing while the Dollar sinks. One thing that might hurt the bull market is if this run lasts long enough for gold to smash through that 1920 peak; if it hits 2000, we're officially in the early stages of the final bubble. If we head toward 1900, expect some minor corrections along the way, maybe even a dip to 1800.

It looks much more likely to happen in 1900 than in 1500... The Federal Reserve probably changed the entire game. Gold is just a side note here; we're talking about currencies and the stock market.