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Silver at $12.55 - is this BUY time?
PreTurb
Posts: 1,184 ✭✭✭
With this morning's sharp drop to mid-$12, this looks like "go" (buy) time to me - with intent not to trade, but for long term accumulation. What say you?
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PreTurb
Posts: 1,184 ✭✭✭
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<< <i>With this morning's sharp drop to mid-$12, this looks like "go" (buy) time to me - with intent not to trade, but for long term accumulation. What say you? >>
A wise old speculator once told me .. "Never try to guess the bottom, but purchase on the upswing" You may miss the bottom doing so, but you will not be disappointed. ... that should answer your question
<< <i>With this morning's sharp drop to mid-$12, this looks like "go" (buy) time to me - with intent not to trade, but for long term accumulation. What say you? >>
A person might dip their big toe in, if they don't have any. It sure isn't time to "load the boat." Last time there was a big down day, a bunch of newbies reported buying SLV. Where are they now? How do they feel now? More importantly, when will they get out? That day might be a decent time to buy, but some may not want to report their actions documenting such foolish decision making. Yes, foolish. Fast moving markets are not a place for newbies. Perhaps some will become "hindsight" traders telling us they got out for 50 cents profit last week, in hindsight, instead of reporting in real time. Trading is real easy in hindsight. Even in the unlikely case that today marks a low, there will be far safer times to buy in terms of risk vs. reward.
The other thing to keep in mind, and well documented, is that physical silver is hard to come by. So unless you know local newbies willing to sell their silver bars at melt after paying $4 over melt last week, or are willing to do mail order and face possible delays in delivery, it is not that easy to buy. Many report that local dealers are charging hefty premiums. Maybe when they throw in the towel and start pricing at normal spreads, it will be an indication that it is safer to get in.
to spot.
<< <i>Now it is not a bad time to buy some, a small portion, if you can find it close
to spot. >>
This 10 day/10 percent correction is already well beyond the expected, no? Might be best to wait until the financial advisors stop recommending PM's, at least.
Silver could be at $9 or $19 a month from now or anything inbetween. Your guess is probably as good as anyone else.
Assuming TPTB can drive gold down to say $650, even at a 50-1 gold to silver ratio, places silver at over $12/oz. I'll tip my hat to the PPT if they can pull off single digit silver from here.
roadrunner
In the end, you have to come to the realization that you aren't ever going to pick the bottom except by sheer luck. I've been buying gradually over the past few years, but I'm now waiting to make a big purchase in the near future.
<< <i>Technical analysis shows that the price is likely to go as low as $10.50. Personally, when it hits $11 or so I am going to load up because I'm in it for the long term. I know that (or I am very confident) that silver will increase at a greater rate than my savings account over the next 5 years.
In the end, you have to come to the realization that you aren't ever going to pick the bottom except by sheer luck. I've been buying gradually over the past few years, but I'm now waiting to make a big purchase in the near future. >>
Silver down to $12.13 at 12:40 EDT ...
If the price is down, then why does it cost so darned much to buy.
<< <i>I guess I'm just dense but would someone explain to me why is silver at $12.30ish but when I go to buy some at my B&M store its always $15. 00+++. That is if he will sell any at all. Forget bars and brand name rounds. ASE's are $17.50-$20.00 around here.
If the price is down, then why does it cost so darned much to buy. >>
because people are too lazy to shop around and they get ripped off.
captive audience and all that. they are in the store, see it for sale,
and convince themselves they might as well buy it for just a bit more.
of course there should be a markup over spot for all silver sold
by a dealer.. but once you get past the 1.50 mark i start laughing
now days.
keep in mind, anything cool, like a rare unqiue silver bar will become
a collectible.. and not just bullion. therefore there are exceptions to
the rule.
I've noticed on ebay a lot of these cool old silver ingots sell for a good amount. They have some collectible value.
I would just check all the local stores and find one that prices things fairly. Some are fair others will try and rip you off.
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