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So.... Who still thinks that silver is......

SilverBaronSilverBaron Posts: 767 ✭
in Precious Metals
....... going under $10 and gold under $700 ???? image

[p.s. ...not me!!]



Keep on stack'n !!
Silver Baron
********************
Silver is the mortar that binds the bricks of loyalty.

Comments

  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    It largely depends what happens with the dollar. The events of the last few days have made me re-evaluate my views somewhat. It's obvious the government could care less about the deficit and trashing the dollar. That kind of sentiment is going to be good for gold and silver. Unless - and it's a big unless - the markets come around to the view that this "fix" will really restart the economy. That could be good for the dollar and bad for PMs.
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
  • DeadhorseDeadhorse Posts: 3,720 ✭
    Not me either.

    The trend seems to be upward.

    If you look at the last 20 years of silver/gold charts, this is the time for the September swoon.

    Mid-September, give or take a few days is generally good for a sharp decline following a surge in late August and early September,

    My calendrical charts quit working around 3 monts ago. They were a solid way for me to make decisions and be correct 90% of the time.

    Not anymore. I'd like to see spot get back to it's real value and settle down a bit.

    Precious metals are volatile enough by their very nature, this is making it near impossible to figure out.

    I have to believe we are in an upward swing that will bring us back to the spot levels from last spring and perhaps a bit more.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
  • fcfc Posts: 12,793 ✭✭✭
    this all reminds me too much of the bear sterns episode.
    panic in the news with gory reporting but then if you hit a month
    or two of quiet people quickly think things are better and start
    looking for greener pastures.

    i do not expect to test new highs and will state i think PMs will
    take a slide down again once they peak on this current crop of news.
  • NumbersUsacomNumbersUsacom Posts: 1,457 ✭
    Ok, but in the mean time I'm getting knocked around in my Short PM fund at Profunds. My physical pile likes it though.
    NumbersUsa, FairUs, Alipac, CapsWeb, and TeamAmericaPac
  • 57loaded57loaded Posts: 4,967 ✭✭✭
    it will at some point in time ....but

    Deadhorse and secondrepublic with the "hedge"
  • DeadhorseDeadhorse Posts: 3,720 ✭


    << <i>it will at some point in time ....but

    Deadhorse and secondrepublic with the "hedge" >>



    Not overnight or like a steady escalator.

    Plenty of ups and downs are in our future, still the trend seems upward at this point in time.

    I could see us getting back there by early to mid December, though.

    I'll just hang in there, been doing it too long to quit now.

    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Bear Stearns was just a shot across the bow. But with that shot the FED and Co. knew their system was sunk. To keep everyone guessing and to hide it, they initiated the biggest tanking of gold and silver that they could. They outdid themselves in Sept by taking down gold and oil so quickly that all commodities followed......when it was now clear that they couldn't hide the mess any longer. That's where we find ourselves today though they are still not coming clean with the risk in total otc derivatives.....they are still talking mortgage backed securities. That's 1/100 th of the total problem. When it comes time to spit out the truth on the CDS fiasco, Hank Paulson will claim, "oh, we didn't know you wanted us to come clean on those too."

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    I just bought a nice unc $20 gold piece (1928)... though I still don't think we're going to see a huge run up in PM prices, I'm hedging my bets a little image
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
  • NumbersUsacomNumbersUsacom Posts: 1,457 ✭
    Bought back my S&P short today, did good.

    But I lost my shirt sleve in my short on PM's profund. Let it ride though and looking
    for a buy back and maybe double up on buy side tommorow.

    Looks like the dollar may get temp support at this 76- 75.5 level, oil looks overbought for one day, my minning stocks look a tad overbought today also.
    But I could be all wrong and loose my other sleve tommorow and maybe my whole shirt.
    NumbersUsa, FairUs, Alipac, CapsWeb, and TeamAmericaPac
  • DoubleEagle59DoubleEagle59 Posts: 8,323 ✭✭✭✭✭


    << <i>Bought back my S&P short today, did good.

    But I lost my shirt sleve in my short on PM's profund. Let it ride though and looking
    for a buy back and maybe double up on buy side tommorow.

    Looks like the dollar may get temp support at this 76- 75.5 level, oil looks overbought for one day, my minning stocks look a tad overbought today also.
    But I could be all wrong and loose my other sleve tommorow and maybe my whole shirt. >>



    I hope you do OK, but for me, this is a market that I will never SHORT (either way you play it). It's just too volotile.
  • tincuptincup Posts: 5,186 ✭✭✭✭✭


    << <i>Bought back my S&P short today, did good.

    But I lost my shirt sleve in my short on PM's profund. Let it ride though and looking
    for a buy back and maybe double up on buy side tommorow.

    Looks like the dollar may get temp support at this 76- 75.5 level, oil looks overbought for one day, my minning stocks look a tad overbought today also.
    But I could be all wrong and loose my other sleve tommorow and maybe my whole shirt. >>




    You sure got more grit than I do. The way things are changing so fast and unpredictably, I am just standing back and neither buying nor selling. May lose some opportunities.... but that's ok for me. These are times when a person can get wiped out if they are not careful..... the old rules do not seem to apply.
    ----- kj
  • cladkingcladking Posts: 28,668 ✭✭✭✭✭
    Gold will be fine.

    If the economy does well then silver will explode upward eventually.
    Tempus fugit.
  • cohodkcohodk Posts: 19,184 ✭✭✭✭✭
    But I lost my shirt sleve in my short on PM's profund

    What PM profund would that be?
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • NumbersUsacomNumbersUsacom Posts: 1,457 ✭
    Profund SPPIX

    edit to add: their long pm fund is PMPIX They are both an index based on gold/slv/copper minning stocks
    NumbersUsa, FairUs, Alipac, CapsWeb, and TeamAmericaPac
  • NumbersUsacomNumbersUsacom Posts: 1,457 ✭
    Closed all today. Got my shirt sleve back just not the cuff from the short profund sppix trade. Between the two trades I made a whopping
    1.14% on my money in two days, but I guess if I annualize it, its not that bad.

    NumbersUsa, FairUs, Alipac, CapsWeb, and TeamAmericaPac
  • cohodkcohodk Posts: 19,184 ✭✭✭✭✭
    Oh ok. They are equity funds investing in mining companies.

    I wasnt aware of any "straight" PM funds and thought maybe I was missing something.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • NumbersUsacomNumbersUsacom Posts: 1,457 ✭
    The top four holdings are: FCX, GG, ABX and NEM

    According to profunds they (pmpix and sppix) are supposed to perform at
    11/2 times the underlying index. So a 10% move in the index would/should move the fund 15%.
    I dont find this always happens but it is their objective.
    NumbersUsa, FairUs, Alipac, CapsWeb, and TeamAmericaPac
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