You might have to look at this for a little bit to see what I'm saying. I'm simply illustrating that Silver is still on its "B" wave. The reason I say this is because, after our "W" of the larger degree, it has been in what seems to be an obvious corrective swing pattern. It broke the equal length-1.236 extension of smaller wxy pattern (which should not be invalidated until break of 1.618 with price action confirmation) and went to pitchfork and equal length in time to "A".... so that is where it sits as of now. It is approaching supply level. So, my point is this. If it were to keep extending down, that should just mean a larger move up in the upcoming future. It can break the low and take off up for "C", it can pull up from right here for a lower shoulder. But my point is, if you have capital and patience, you have an extremely high probability of silver pulling up for a long wave. If it were to extend all the way down to 12.00-10.00 range that is a no brainer investment to me, so would they let it drop that low? Doesn't make sense. Could it take years? Could it consolidate in a sideways range? Yes, but that should just be an accumulation phase to go up. A lot of people hop on an "A" wave. Plenty of people probably bought Silver as it was shooting up and have been trapped, many of them probably closed and took a loss. That's why we get these long complex "B" waves. Is anything Guaranteed in any market?.. No. There's just probable and improbable based on how the market moves. What did Warren Buffet say?
"In the short term, the market is a popularity contest. In the long term, the market is a weighing machine."
"If you aren't willing to own a stock for ten years, don't even think about owning it for ten minutes. Put together a portfolio of companies whose aggregate earnings march upward over the years, and so also will the portfolio's market value."
"I've seen more people fail because of liquor and leverage -- leverage being borrowed money. You really don't need leverage in this world much. If you're smart, you're going to make a lot of money without borrowing."
"The stock market is a device for transferring money from the impatient to the patient." -- Warren Buffett
"In the short term, the market is a popularity contest. In the long term, the market is a weighing machine."
"If you aren't willing to own a stock for ten years, don't even think about owning it for ten minutes. Put together a portfolio of companies whose aggregate earnings march upward over the years, and so also will the portfolio's market value."
"I've seen more people fail because of liquor and leverage -- leverage being borrowed money. You really don't need leverage in this world much. If you're smart, you're going to make a lot of money without borrowing."
"The stock market is a device for transferring money from the impatient to the patient." -- Warren Buffett
Comment:
Just a note. The grey and turquoise boxes are just to illustrate equal length and time of waves. The grey box just shows you what wave C's length would be if equal to "A". It doesn't have to be.