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Silver has slid into a bear market, down ~22% since October and settling -2.5% today at $27.24,...

Silver has slid into a bear market, down ~22% since October and settling -2.5% today at $27.24, and some analysts say the pain is just beginning. Colin Cieszynski says recent moves reflect a technical breakdown but, similar to selling pressure hitting gold, silver is losing fans as inflation fears fade. iShares Silver Trust (SLV -2.4%) has extended its pattern of stair-step declines, an ominous technical warning.
Comments (19)
  • raincity
    , contributor
    Comments (216) | Send Message
     
    I hope it keeps dropping. Would love to acquire some physical silver at a discount.
    2 Apr 2013, 02:15 PM Reply Like
  • tunaman4u2
    , contributor
    Comments (2744) | Send Message
     
    Love it... so whats your bottom call Colin?
    2 Apr 2013, 02:15 PM Reply Like
  • Doug Eberhardt
    , contributor
    Comments (2727) | Send Message
     
    Funny how physical silver demand is higher yet the price falls. I have been cautioning of a fall in prices because of U.S. dollar strength for over a year. Yet my gold and silver sales are at record levels. The reason? These prices represent a buying opportunity. Market Makers do what they do best when a sector or stock has been beaten down. Gold and silver are no different. But keep an eye on the physical market. http://bit.ly/15WoeLA
    2 Apr 2013, 02:18 PM Reply Like
  • tunaman4u2
    , contributor
    Comments (2744) | Send Message
     
    Whats your expectations for a bottom of this downtrend?
    2 Apr 2013, 02:21 PM Reply Like
  • Doug Eberhardt
    , contributor
    Comments (2727) | Send Message
     
    Good question. I think dollar cost averaging into one's allocation takes away the guessing game. Once you are invested, then just be patient. I look at how much business I am doing as a sign of many who are concerned. So the price falling a bit lower, while still possible with a stronger dollar, is in my opinion going to be a temporary thing. I will write my all-in article when I feel it has bottomed.
    2 Apr 2013, 06:21 PM Reply Like
  • sheeple2012
    , contributor
    Comments (203) | Send Message
     
    keep selling, i'm buying 100-150 oz/week
    2 Apr 2013, 02:20 PM Reply Like
  • howard26
    , contributor
    Comments (142) | Send Message
     
    Just wondering how far it has to go to get the price of coins to drop to around $28.

     

    Waiting for $26.90 to add more. Then if it goes to $24 I may be even happier................
    2 Apr 2013, 02:23 PM Reply Like
  • John Wilson
    , contributor
    Comments (1094) | Send Message
     
    This Colin Cieszynski shows pure genius in recognizing and calling it, that silver has gone down 22% since October:

     

    "Colin Cieszynski, senior market analyst at brokerage firm CMC
    Markets, this week’s moves reflect a technical “breakdown,” and “the start of a new down-leg.”

     

    What an astute observation. Only senior market analyst could recognize this. After 19 months of down action and a 22% decline he has "called" it.

     

    And I like how the story is published after futures closed for the day so there is no chance of getting his "prediction" wrong.
    2 Apr 2013, 03:41 PM Reply Like
  • angelg44
    , contributor
    Comments (15) | Send Message
     
    Well, it seems this move is just a part of huge market manipulation in place. The same banks who sank silver below stop levels will be 1st buyers in place. I expect sharp and strong recovery happening out of nowhere sometimes this year. The process name is Shaking The Tree (and getting bottom line entry point as a result of that manipulation)
    2 Apr 2013, 05:36 PM Reply Like
  • Mad Matt
    , contributor
    Comments (79) | Send Message
     
    You are so RIGHT ON THE BUTTON! Wait a little bit, and then buy some more. As you so wisely point out, this is MARKET MANIPULATION at its best. The majority is buying and selling of paper contracts. Then the silver must eventually be delivered, and this is when the shorts are going to get smashed. May be a week or two from now. Just my opinion, but the price is starting to get attractive.
    3 Apr 2013, 02:08 PM Reply Like
  • user92718
    , contributor
    Comments (177) | Send Message
     
    if it is dropping, why u r buying? do you beleive it will skyrocket soon?
    2 Apr 2013, 05:37 PM Reply Like
  • ted davis
    , contributor
    Comments (148) | Send Message
     
    since the $46-47 highs of 2 years ago,it has had very short lasting rallies up 25-30% that fail, and the chart looks awful,lower highs,etc..If it breaks $25-26 it wont be a good sign. Remember after the Bunker Hunt corner in the 1980 time frame when it hit near $50,the metal took a steady dive for 25 years to <$5.Even Warren Buffet,who took a flyer near 6,didnt stick with it.So,maybe this time it slides longer than anyone thinks.I own it at 38,then 28,but am ready to dry heave it up.Fuggedaboutit!
    2 Apr 2013, 08:51 PM Reply Like
  • waikikigigi
    , contributor
    Comments (13) | Send Message
     
    How long should we wait before buying "en masse"? The dollar won't be strong for long - maybe another few months until the system implodes!
    3 Apr 2013, 02:02 AM Reply Like
  • marktuthdr2
    , contributor
    Comments (45) | Send Message
     
    What are the most practical 2 or so ways to buy physical silver? Yes, I'm a newbie to precious metals. I bought PSLV and GLD late last year, and they have not done well, to state the obvious. I like the thought of having physical silver bought at low prices; I'll take that chance, if it's not too awkward to manage.
    3 Apr 2013, 02:03 AM Reply Like
  • Ryan Hook
    , contributor
    Comments (100) | Send Message
     
    I go with PSLV and PHYS Sprott holds physical bullion in Canada. And it is taxed only at 20% capital gains unlike GLD/PSLV which 28% like holding bullion income tax (I don't remember the actual reason).
    4 Apr 2013, 04:31 AM Reply Like
  • marktuthdr2
    , contributor
    Comments (45) | Send Message
     
    What are the most practical ways to buy physical silver? Yes, I'm a newbie to silver and gold. My PSLV and GLD have not set the world on fire to say the least, since I bought them late last year.
    3 Apr 2013, 02:04 AM Reply Like
  • Chuckgaspar
    , contributor
    Comment (1) | Send Message
     
    If you are long on the physical silver, I hope it keeps dropping! I am getting more oz's on a discount!!
    3 Apr 2013, 02:16 AM Reply Like
  • turbohawk
    , contributor
    Comments (4) | Send Message
     
    I had to wait nearly 6 weeks to get my last order...and it wasn't a large order. I don't really care what an ETF does other than the industry seems to base prices on it...I would love to see it drop more but I doubt there will be any to buy at that lower price. So much for the "law" of supply and demand...
    3 Apr 2013, 05:42 AM Reply Like
  • TXFLYGUY
    , contributor
    Comments (43) | Send Message
     
    I am amazed at the total lack of logic now with regards to the dollar and metals. A company (the US Fed) keeps issuing more and more shares of stock (the dollar) which dilutes the value of the shares. Inflation? Has anyone been to a super market lately? A number of items we purchased at Costco yesterday are 50% to 100% more than they were a year ago! When you look at the national debt, the printing press, Korea, Europe, you wonder why the fundamentals are no longer being applied to investment logic. The whole thing has a strong hint of manipulation, and the US government is pumping billions into the market. The economy is in the toilet, retail is dead, the unemployment rate is actually well above 10%, so riddle me this Batman...what is going on???
    3 Apr 2013, 08:17 AM Reply Like
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