Daily Blog: July 10, 2017 - What a turnaround in silver today
This morning silver was down almost 20 cents but as I watched the ticker, I noticed severe fluctuations. On one hand, bankers were engaged in "search and destroy" algorithms whereas the sellers were just refusing to sell. Between the low and high of today ( the market is still open) we had a fluctuation of almost 40 cents. This is generally a sign that a definitive directional move is expected. Whether it will be on the upside or downside, it is yet to be seen. Overall charts continue to be bearish, unfortunately, but things can change in a jiffy!
Cryptos are also sort of are just moving in a tight range. Litecoin is back below $50 and Ethereum is back below $225. I think there is a generally a sense that something is about to give but I don't see anything changing in next couple of weeks. I guess, this is what is known as "summer doldrums".
Oil touched $43 handle before miraculously gaining strength.
From a trading perspective, though volatility is good, this is too much of it and I am keeping out.
Stocks were directionless.
That's all for today's blog.
As always, be prepared and be safe!
ajain, your report is one of my top favorites now!
that's why i marked you with the golden star.
membergreetings #steemsilvergold
Thank you so much and I do appreciate your comments. We are together in this!
please read witness today: sbd price warning - start making 100% powered up posts.
Very nice.
Great post, upvoted and resteemed...yes it shot back up
Thanks for both.
This morning, I saw Silver down $0.31 to $15.26... just adding more fuel to the fire....watching the fluctuations.
I think something gotta give, it is becoming criminal to have these kind of flash crashes and general naked shorting.
I posted a chart on the GS ratio earlier - take a look, you might be interested as I think we might be ready for a big reversal.
https://steemit.com/steemsilvergold/@unclehermit/big-silver-move-ahead-gold-silver-ratio-hits-resistance
Yes, I am watching the ratio very closely and I think I commented on one of the post earlier this morning where in I mentioned that if it touches 82 then a sharp reversal is expected and also that means SHTF moment has come!!
brutal crypto markets!!
In last two weeks cryptos have lost $14 billion of market cap!
it's made. The volatility is nuts. I'm holding though, so just trying to not look at the prices too often!
Exactly. That's what i do and i tell that through my blogs that playing options in this manipulated market is very dangerous. Buy and hold!
Looks to me like manipulator would like to own all means of production of silver
yup, that's what I hypothesized in my earlier blog.
This is no different from Greece where the whole game is about asset grabbing.