Monster Silver Rally Brewing

[Danny-boy]

http://www.silverseek.com/article/monster-silver-rally-brewing-13023

Interesting, any thoughts?

[ChrisSilver]

Well my gold chart has already broken out of a downward triangle. We look like we could be heading higher on the charts. But I hope it doesn't happen. I still want to buy some cheap PM's. 

 

I know this a gold chart not silver, but:

 

My trading friend took a small position in gold about a month ago, so i think he is up a nice little bit unless he has sold already.

I haven't opened an account yet as I don't have funds, but I was thinking of opening a bullionvault account, then can easily trade price movements by buying and selling allocated gold and silver. It is very liquid, and the storage cost is relatively low, 0.1% per annum for gold and 0.48% or something for silver. However the minimum storage charge about $8 per month for silver and $6 for gold. Which is a bit expensive unless you have a large balance. 

I think overall you can make more money buying and selling semi numi's than by just being exposed to the value of the underlying asset, but I something like bullionvault would mean you would have very liquid holdings when you came to sell. And I personally think its worth investing a bit in there whilst the silver prices are cheap.

The worrying thing about buying all this silver, is that in the future it might take a long time to sell, especially if it's semi numi stuff, as need to find a lot of collectors to buy at a good price. But then again, I regard it as a hobby as well, and it should hopefully be just as much fun selling as it is buying.

Does anyone else trade the silver and gold markets, or use something similar to bullionvault?

[Danny-boy]

Well, down already this morning (silver).

I think a lot of people were expecting hefty rises this morning, erm no.

The bargain basement prices continue, for now.

[ChrisSilver]

Well, down already this morning (silver).

I think a lot of people were expecting hefty rises this morning, erm no.

The bargain basement prices continue, for now.

To me in looks like a retracement on a bull flag. We could head high in the coming months and these levels could be a distant memory.

Lots of people think that we will instead see silver fluctuate in a largish price channel for a while. Which I think might happen. I at least hope silver remains cheaper for the next few years at least.

[Danny-boy]

Me too Chris, I'd like to double my stack prior to an increase.