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Trying to catch a rocket that has taken off generally results in even more pain and bleeding than from falling knives.

This will not be the last opportunity to get onto the silver train with your punting funds, so don't worry.

DOI: Put a small punt in this AM but keeping the rest back.

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'seems to have bottomed around $34; now $37 - but markets don't normally let people have an easy entry like that.

loads of amateurs will have long silver positions now with stops around $34-35 and they're are easy pickings for the pros - I wouldn't be surprised to see it have one more sharp leg down soon and maybe that is that time to buy...

Edited by Constable
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'seems to have bottomed around $34; now $37 - but markets don't normally let people have an easy entry like that.

loads of amateurs will have long silver positions now with stops around $34-35 and they're are easy pickings for the pros - I wouldn't be surprised to see it have one more sharp leg down soon and maybe that is that time to buy...

What he said.

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'seems to have bottomed around $34; now $37 - but markets don't normally let people have an easy entry like that.

loads of amateurs will have long silver positions now with stops around $34-35 and they're are easy pickings for the pros - I wouldn't be surprised to see it have one more sharp leg down soon and maybe that is that time to buy...

I bought back in at $35 and would use any further drop below $35 to buy in again.

I still have all my S&S ISA allowance this year and was thinking of some metal stocks.. Other than 'the other place' can anyone suggest some decent reading for research?

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I copied this from the comments on this blog re previous silver price corrections...

Here is a small sample of the “collapses” that have happened in silver since 2004:

April 2004: Silver falls from $8.25 to $5.50. A 33% correction.

May 2004: Silver falls from $6.10 to $5.40. A 12% correction in only four trading days.

Sept. 2004: Silver falls from $6.80 to $6.12. A 10% correction in only eight days.

Dec. 2004: Silver falls from $8.00 to $6.60. A 17.5% correction is only two weeks.

Jun-Jul 2005: Silver falls from $7.55 to $6.80. A 10% for the summer.

Apr. 2006: Silver falls from $14.25 to $12.10. A 15% correction only two days.

May 2006: Silver falls from $15.00 to $12.00. A 20% correction in only 10 days.

June 2006: Silver falls from $12.50 to $9.70. A 22% correction in only nine days.

July 2006: Silver falls from $11.75 to $10.50. A 11% correction in only seven days.

Sept. 2006: Silver falls from $13.25 to $10.75. A 19% correction in only 10 days.

Dec. 2006: Silver falls from $14.10 to $12.50. A 11% correction in only 14 days.

Mar. 2007: Silver falls from $14.30 to $12.50. A 13% correction in only four days.

Aug. 2007: Silver falls from $13.10 to $11.60. A 11.5% correction in only 10 days.

Mar. 2008: Silver falls from $21.00 to $17.50. A 17% correction in only three days.

Apr. 2008: Silver falls from $18.50 to $16.50. A 11% correction in only 13 days.

And then silver had a biggie…

July-Oct 2008: Silver falls from $19.40 to $8.85. A 54% correction in under three months.

And don’t forget…

Feb-Mar 2009: Silver falls from $14.50 to $12.70. A 12% correction in three weeks.

June 2009: Silver falls from $16.00 to $13.70. A 14% correction in 20 days.

Jan. 2010: Silver falls from $18.75 $16.25. A 13% correction in 18 days.

May 2010: Silver falls from $19.70 to $17.50. A 11% correction in only 11 days.

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I bought back in at $35 and would use any further drop below $35 to buy in again.

I still have all my S&S ISA allowance this year and was thinking of some metal stocks.. Other than 'the other place' can anyone suggest some decent reading for research?

Minesite is interesting, make your own mind up.

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'seems to have bottomed around $34; now $37 - but markets don't normally let people have an easy entry like that.

loads of amateurs will have long silver positions now with stops around $34-35 and they're are easy pickings for the pros - I wouldn't be surprised to see it have one more sharp leg down soon and maybe that is that time to buy...

Agree 100%.

Dead kitty bounce in progress me thinks.

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Managed to buy a £1000 worth on Monday the 9th May, Will be interesting to see if there is another dip or if I actually did time it right. I failed lamentably on other occasions, but then again, I originally started to buy when a kilo cost me £328, so I'm not complaining too much.

(edited for grammatical clarity)

Edited by Old Nis
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a summer consolidation in the $29-34 range? i.e. linear resistance turned support?

Possibly. If 200DMA support fails then POS could drop to low $20's. This summer with be very interesting with the "QE2 ending" smoke & mirrors.

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silver is doing what it needs to do - testing and finding support

if it is to go higher it needs to confirm from where (price range) it will move upwards again. it looks like we are going to have a consolidating summer and if the price consolidates in and around the $30-33 range, what do you think it will do towards christmas?

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silver is doing what it needs to do - testing and finding support

if it is to go higher it needs to confirm from where (price range) it will move upwards again. it looks like we are going to have a consolidating summer and if the price consolidates in and around the $30-33 range, what do you think it will do towards christmas?

What do I think lol? I'm clearly the wrong person to ask.

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