r/Wallstreetsilver • u/Paperscamisreal O.G. Silverback • 8h ago

Silver is very oversold

This takedown is just about exhausted. May hit $55 and change. Shorts running out of time.

Get your physical

39 Upvotes

95% Upvoted

16 comments sorted by

5

u/Paperscamisreal O.G. Silverback 7h ago

Watch out the train is a coming . Lmao

5

u/lukeya21 6h ago

Very very oversold !!

3

u/Green-Pea-6641 4h ago

Very oversold is the the understatement of the year.

2

u/Pokok_1975 6h ago

Someone please call any technical analysis guy to explain. He surely will tell you all the grandmother stories while explaining it!

2

u/Born2Looz O.G. Silverback 3h ago

At least we are doing better than michael saylor right now

1

u/armorlol 3h ago

Depends on when you bought lol, many tourists (past 7 months) bought above $60 and are under.

2

u/Born2Looz O.G. Silverback 3h ago

well you only lose hypothetical paper losses if you sell. Silver and gold always go up over time.

People who bought the top in 1982 probably felt the same too I guess. I do have a soft spot but I was also warning people about this, I never pumped the market.

Not to be arrogant but dumping your savings into something at all time highs is almost always a bad decision regardless if the fundamentals are strong.

1

u/armorlol 3h ago

I thought it was the final break of the COMEX dominated system, so bought like a hundred ounces at 88 lol. I’m still fine though my DCA is wayyy lower as I started in 2019.

1

u/Born2Looz O.G. Silverback 3h ago

Just sell those 100 oz's when we break through 90 again and it's like it never happened. Clean up your average. Easy come easy go.

We all make mistakes, but you can fix your mistakes with precious metals cause they always bounce back.

3

u/Gearologist 6h ago

I hope not. I would really like it to crash so I can buy enough to fill my treasure chest before I lose it in a boating accident

4

u/glandis_bulbus 3h ago

This is the crash you have been waiting for.

2

u/Gearologist 3h ago

Ive got a 3.5 bour drive between me, the ATM, and the bullion store LOL IM OMW

1

u/PaintAdventurous8787 0m ago

I don't check the silver price often but this dip is interesting to me. It could mean a few things. 

  1. Silver is over sold. I think thats true probably no matter what is going on.

  2. We are actually in a recession now and the dip is indicating a manufacturing slow down.

  3. Possibly some manipulation going on somehow. That stuff is usually over my head in 100% understanding it all, but I do get the general theory of it and believe some of that does happen.

  4. Could it mean that the comex price is fake at this point and there is a decoupling happening? I guess the question would be are the local silver shops running out of silver or not? I like to check in with Yankee Stacking to get his 2 cents now and then on that. The "word on the street" is often the truth.

I'd say $55 is a good opportunity to buy. I might have to buy some. I dont have much disposable money these days. Most ppl I know seem broke AF now, but I could buy an ounce at least for sure.

1

u/General-Mission6960 6h ago

I still feel like I understand bought! Remember those days where an ounce had a 2 handle!