I looked at the ten year chart for silver, measured run up to the recent pennant formation, and I beleive that run up will be repeated after the recent pennant break out. Hence, a price target of $28.
I do believe in technical analysis; it's you that don't show any.
The dollar would have to fall by an additional 33%, oil would have to go to $150 a barrel, or the Fed would have to cut interest rates to 0.5% for silver to hit $28/oz.
Forget your foolish pennants.
"It's far easier to fight for principles, than to live up to them." Adlai Stevenson
Here are the last 3 paragraphs from the 3-22 article:
Don’t confuse the lockstep price changes between gold and silver with them being the same commodity. They are very different commodities, even if their price movements appears joined at the hip. No disrespect to gold, but silver is vastly superior. There’s much less physical silver available to be purchased than gold, even though silver is priced at only 2% of the price of gold. Since it is not industrially consumed, gold can’t plausibly develop into a shortage situation. A silver shortage is unavoidable. With billions of gold ounces available at some price, buying one million ounces for one billion dollars shouldn’t present a problem, as the world’s inventory of gold is valued in the trillions of dollars. As I wrote above, I don’t think more than a billion dollars could be used to buy real silver without jolting the price significantly.
The main difference between the gold and silver is that silver is the better value on the true fundamentals. The world doesn’t have to end for silver to climb in price. Nor does the dollar have to collapse. Nor must there be inflation, deflation, turmoil in the financial system or a fight to quality. If, unfortunately, those circumstances occur, silver should do fine. But all that has to occur for silver to quadruple in price again, just like it has already quadrupled, is for time to pass and more people recognize its true fundamentals and for the manipulative short position to be resolved. This will happen regardless of changing conditions.
Even if you find my silver message somewhat outlandish and unbelievable, I challenge you to investigate the facts. There can be no better example to study, for better and worse on silver, than the world’s most successful large investor, Warren Buffett. Ten years ago, he bought 130 million ounces at $5 per ounce, for all the right reasons, i.e., the real fundamentals. Not content to just sit on it, in my opinion, he tried to get fancy and trade futures against it for extra income and wound up losing a stash that could never be replaced ever again. Learn from that - buy real silver, and then forget about it.
Here are the last 3 paragraphs from the 3-22 article:
Don�t confuse the lockstep price changes between gold and silver with them being the same commodity. They are very different commodities, even if their price movements appears joined at the hip. No disrespect to gold, but silver is vastly superior. There�s much less physical silver available to be purchased than gold, even though silver is priced at only 2% of the price of gold. Since it is not industrially consumed, gold can�t plausibly develop into a shortage situation. A silver shortage is unavoidable. With billions of gold ounces available at some price, buying one million ounces for one billion dollars shouldn�t present a problem, as the world�s inventory of gold is valued in the trillions of dollars. As I wrote above, I don�t think more than a billion dollars could be used to buy real silver without jolting the price significantly.
The main difference between the gold and silver is that silver is the better value on the true fundamentals. The world doesn�t have to end for silver to climb in price. Nor does the dollar have to collapse. Nor must there be inflation, deflation, turmoil in the financial system or a fight to quality. If, unfortunately, those circumstances occur, silver should do fine. But all that has to occur for silver to quadruple in price again, just like it has already quadrupled, is for time to pass and more people recognize its true fundamentals and for the manipulative short position to be resolved. This will happen regardless of changing conditions.
Even if you find my silver message somewhat outlandish and unbelievable, I challenge you to investigate the facts. There can be no better example to study, for better and worse on silver, than the world�s most successful large investor, Warren Buffett. Ten years ago, he bought 130 million ounces at $5 per ounce, for all the right reasons, i.e., the real fundamentals. Not content to just sit on it, in my opinion, he tried to get fancy and trade futures against it for extra income and wound up losing a stash that could never be replaced ever again. Learn from that - buy real silver, and then forget about it. >>
Yep, Silver is used in much higher quantities in ways where it is difficult if not impossible to recover it. Eventually it will be scarce and we will probably see $100 in most of our life times.
Gold @ $785.10, Silver at $13.01.....If you listened to this PM hype you'd be kicking yourself. Note to self......ignore the PM hypesters!! I wonder what his target is now? $8.00
<< <i>I looked at the ten year chart for silver, measured run up to the recent pennant formation, and I beleive that run up will be repeated after the recent pennant break out. Hence, a price target of $28.
You know what they say about a "little knowledge". Of course we continue to read with fascination all this hyperbole about fundamentals and technical analysis. If you can't afford to lose money in this game then stay away from it.
<< <i>Gold @ $785.10, Silver at $13.01.....If you listened to this PM hype you'd be kicking yourself. Note to self......ignore the PM hypesters!! I wonder what his target is now? $8.00 >>
And just where in the he## is this LA Money dude now
<< <i>Gold @ $785.10, Silver at $13.01.....If you listened to this PM hype you'd be kicking yourself. Note to self......ignore the PM hypesters!! I wonder what his target is now? $8.00 >>
And just where in the he## is this LA Money dude now >>
Alan is a working guy. I have enjoyed conversations with him through PMs here (that's Private Messages, not Precious Metals) This is currently on his website :
SHOW SUMMARY FOR SUNDAY, AUGUST 17 Hi. You know me for being on the news in Southern California for more than twenty years as "the money man," and from my "best deals" TV shows and infomercials.
Well, starting Sunday, August I7 I will have a new TV show called Best Buys with Alan Mendelson. ...
I would think Silver and Gold will be on his list. After all, he's been in the business long enough.
At least MoneyLA sold his gold over $900 and posted it publicly for all to read (and criticize). If I remember correctly, he kept the silver. Should have done the opposite, but everything is easy in hindsight, not so easy going forward.
I certainly didn't see this coming, though as always, there are possibilities and probabilities. What goes up, often comes down twice as fast. The next tree to fall might be key date coins--that would shock the forumites. Many would rush to buy on the first dip only to be crushed, like those that bought dips in silver to $18, or $15. Don't say never, possibilities and probabilities.
<< <i>MoneyLA wrote on April 24, 2008: I sold my gold at $945 and glad I did. But if gold should drop back to just under $800 I will buy again.
>> next post I sold American gold Eagles, one ouncers. I sold because I sensed the market was turning. Im sorry I didnt sell closer to 1K but needed gold to fall below 950 to confirm that the metal would not sustain itself above 1000. I have a long term profit. Ive been buying gold for more than three years. I still have my silver, but it is a smaller $$ amount than my gold. I still think silver is undervalued, but I cant buy silver now until the uptrend returns... that could be in a week, or in a month, or in six months... I dont know till it happens. If gold stabilized and then started to move higher, I could re-enter the gold market. but right now I think a price drop to $800 or slightly less is very possible. >>
I'd be down with a key date crash or two -- the few that I have, I bought years before the big run-ups. But those run-ups have priced me out of a '55 double die, an 01-s quarter, 93-s morgan, etc. Not that I even necessarily want any of them (well, the '55 dd would be sweet.) But it would be nice to see their prices come out of the stratosphere.
@Steve27 said:
" if you don't believe in technical analysis..."
I do believe in technical analysis; it's you that don't show any.
The dollar would have to fall by an additional 33%, oil would have to go to $150 a barrel, or the Fed would have to cut interest rates to 0.5% for silver to hit $28/oz.
Comments
if you followed technical analysis, you would have seen the move before the news of the short squeeze became public.
www.AlanBestBuys.com
www.VegasBestBuys.com
I do believe in technical analysis; it's you that don't show any.
The dollar would have to fall by an additional 33%, oil would have to go to $150 a barrel, or the Fed would have to cut interest rates to 0.5% for silver to hit $28/oz.
Forget your foolish pennants.
So let me stab at it and say that gold will peak at $24.65 and fall back to $18.
My guess has to be as good as any.
LOL
<< <i>Let me chime in. I know absolutely zero about the PM market.
So let me stab at it and say that gold will peak at $24.65 and fall back to $18.
My guess has to be as good as any.
LOL >>
What year is this, 1883?
This one is up to $5.51 on eBay
I'm in pig heaven.
<< <i>Well... crystal balls abound.... and yet, predictions of the current run were remarkably lacking. Now, everyone is an expert..
ricko, you're right, everyone now has a prediction but I believe MoneyLA has been a pro at this for a long time. --jerry
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
I see $35 before 2009. That's just a SWAG.
<< <i>IT will hit $40 by mid 09. >>
"Dream along" .... but not likely, unless you like paying $6 gal gas & $5 for a Gal of milk. To much Silver in the world available for melt.
The dollar has fallen by less than 20% over the last 4 years, and the price of silver has tripled. More factors must be in play.
Too many factors will come into play over the next couple of years.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
butler on silver
Here are the last 3 paragraphs from the 3-22 article:
Don’t confuse the lockstep price changes between gold and silver with them being the same commodity. They are very different commodities, even if their price movements appears joined at the hip. No disrespect to gold, but silver is vastly superior. There’s much less physical silver available to be purchased than gold, even though silver is priced at only 2% of the price of gold. Since it is not industrially consumed, gold can’t plausibly develop into a shortage situation. A silver shortage is unavoidable. With billions of gold ounces available at some price, buying one million ounces for one billion dollars shouldn’t present a problem, as the world’s inventory of gold is valued in the trillions of dollars. As I wrote above, I don’t think more than a billion dollars could be used to buy real silver without jolting the price significantly.
The main difference between the gold and silver is that silver is the better value on the true fundamentals. The world doesn’t have to end for silver to climb in price. Nor does the dollar have to collapse. Nor must there be inflation, deflation, turmoil in the financial system or a fight to quality. If, unfortunately, those circumstances occur, silver should do fine. But all that has to occur for silver to quadruple in price again, just like it has already quadrupled, is for time to pass and more people recognize its true fundamentals and for the manipulative short position to be resolved. This will happen regardless of changing conditions.
Even if you find my silver message somewhat outlandish and unbelievable, I challenge you to investigate the facts. There can be no better example to study, for better and worse on silver, than the world’s most successful large investor, Warren Buffett. Ten years ago, he bought 130 million ounces at $5 per ounce, for all the right reasons, i.e., the real fundamentals. Not content to just sit on it, in my opinion, he tried to get fancy and trade futures against it for extra income and wound up losing a stash that could never be replaced ever again. Learn from that - buy real silver, and then forget about it.
<< <i>here' the link I found regarding previous message above:
butler on silver
Here are the last 3 paragraphs from the 3-22 article:
Don�t confuse the lockstep price changes between gold and silver with them being the same commodity. They are very different commodities, even if their price movements appears joined at the hip. No disrespect to gold, but silver is vastly superior. There�s much less physical silver available to be purchased than gold, even though silver is priced at only 2% of the price of gold. Since it is not industrially consumed, gold can�t plausibly develop into a shortage situation. A silver shortage is unavoidable. With billions of gold ounces available at some price, buying one million ounces for one billion dollars shouldn�t present a problem, as the world�s inventory of gold is valued in the trillions of dollars. As I wrote above, I don�t think more than a billion dollars could be used to buy real silver without jolting the price significantly.
The main difference between the gold and silver is that silver is the better value on the true fundamentals. The world doesn�t have to end for silver to climb in price. Nor does the dollar have to collapse. Nor must there be inflation, deflation, turmoil in the financial system or a fight to quality. If, unfortunately, those circumstances occur, silver should do fine. But all that has to occur for silver to quadruple in price again, just like it has already quadrupled, is for time to pass and more people recognize its true fundamentals and for the manipulative short position to be resolved. This will happen regardless of changing conditions.
Even if you find my silver message somewhat outlandish and unbelievable, I challenge you to investigate the facts. There can be no better example to study, for better and worse on silver, than the world�s most successful large investor, Warren Buffett. Ten years ago, he bought 130 million ounces at $5 per ounce, for all the right reasons, i.e., the real fundamentals. Not content to just sit on it, in my opinion, he tried to get fancy and trade futures against it for extra income and wound up losing a stash that could never be replaced ever again. Learn from that - buy real silver, and then forget about it. >>
Yep, Silver is used in much higher quantities in ways where it is difficult if not impossible to recover it. Eventually it will be scarce and we will probably see $100 in most of our life times.
<< <i>
<< <i>IT will hit $40 by mid 09. >>
"Dream along" .... but not likely, unless you like paying $6 gal gas & $5 for a Gal of milk. To much Silver in the world available for melt. >>
You don't pay $5.00 for a gallon of milk ?
<< <i>The dollar would have to fall by an additional 33%
The dollar has fallen by less than 20% over the last 4 years, and the price of silver has tripled. More factors must be in play. >>
Speculation has driven it up...now it seems to be they're being washed out...oh well.
this is not a "broad market" sell, it is a concentrated position from a large commercial bank
the fundamentals are still in place...tell me how the economic outlook has changed in the last 24 hours? I thought so, all I hear is crickets.
if you do not see that then you shouldnt be in the market...................
<< <i>I looked at the ten year chart for silver, measured run up to the recent pennant formation, and I beleive that run up will be repeated after the recent pennant break out. Hence, a price target of $28.
forecast >>
Maybe $8 instead of $28?
<< <i>This thread still has me laughing! >>
Yeah, but the Cubs might really win the World Series tho!
<< <i>Gold @ $785.10, Silver at $13.01.....If you listened to this PM hype you'd be kicking yourself. Note to self......ignore the PM hypesters!! I wonder what his target is now? $8.00
And just where in the he## is this LA Money dude now
<< <i>
<< <i>Gold @ $785.10, Silver at $13.01.....If you listened to this PM hype you'd be kicking yourself. Note to self......ignore the PM hypesters!! I wonder what his target is now? $8.00
And just where in the he## is this LA Money dude now
Alan is a working guy.
I have enjoyed conversations with him through PMs here (that's Private Messages, not Precious Metals) This is currently on his website :
SHOW SUMMARY FOR SUNDAY, AUGUST 17
Hi. You know me for being on the news in Southern California for more than twenty years as "the money man," and from my "best deals" TV shows and infomercials.
Well, starting Sunday, August I7 I will have a new TV show called Best Buys with Alan Mendelson.
...
I would think Silver and Gold will be on his list. After all, he's been in the business long enough.
I certainly didn't see this coming, though as always, there are possibilities and probabilities. What goes up, often comes down twice as fast. The next tree to fall might be key date coins--that would shock the forumites. Many would rush to buy on the first dip only to be crushed, like those that bought dips in silver to $18, or $15. Don't say never, possibilities and probabilities.
/edit to add:
I found it:
http://forums.collectors.com/messageview.cfm?catid=26&threadid=653572&highlight_key=y&keyword1=gold
link
<< <i>MoneyLA wrote on April 24, 2008:
I sold my gold at $945 and glad I did. But if gold should drop back to just under $800 I will buy again.
>> next post
I sold American gold Eagles, one ouncers. I sold because I sensed the market was turning. Im sorry I didnt sell closer to 1K but needed gold to fall below 950 to confirm that the metal would not sustain itself above 1000. I have a long term profit. Ive been buying gold for more than three years. I still have my silver, but it is a smaller $$ amount than my gold. I still think silver is undervalued, but I cant buy silver now until the uptrend returns... that could be in a week, or in a month, or in six months... I dont know till it happens. If gold stabilized and then started to move higher, I could re-enter the gold market. but right now I think a price drop to $800 or slightly less is very possible. >>
<< <i>
<< <i>This thread still has me laughing! >>
Yeah, but the Cubs might really win the World Series tho!
You are about to be b*tch slapped for saying that
Oil peaked at $164 Nov 2008.
Silver plunged to $9 by the end of the year.
Good call. Hit $49.50 in 2010.
Silver hit a peak of $21.44 about 10 days after the OP and then dropped to $8.40 about 7 months later. Ahhh...the good old days.
Knowledge is the enemy of fear