Home› Precious Metals
Options

BUY ALL THE SILVER YOU CAN AFFORD RIGHT NOW

Danny9995Danny9995 Posts: 115
in Precious Metals
It seems like every time the stock market goes up so does silver and when the stock market goes down so does silver. Stock market up 900 ( 11%) yesterday and silver has now gone up about 11% since yesterday. We all know that the stock market will get back to 14,000 and higher in the next couple of years and the economy will take off again and when it does silver will be 20+ easy. Also, I am hearing that almost all banks had to sell their PM's to meet their obligations, so that is a reason for depressed prices. When the economy picks up, those banks that still exist are going to be looking to buy back millions of ounces.

Comments

  • Options
    DeadhorseDeadhorse Posts: 3,720 ✭
    The Market will be closer to 6,000 than 14,000 in the next few years.

    Inflation and scarecity will drive the price of silver up during this same period.

    All PMs will rise.

    There isn't any correlation to the market.

    If nothing else there has been a reverse coorelation over the years.

    Though it's tough to find any type of coorelations these days.
    "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
  • Options
    notwilightnotwilight Posts: 12,864 ✭✭✭
    If PMs went with the stock market I'd rather buy stocks since I can pick good stocks. But it's not that simple. --Jerry
  • Options
    asinasin Posts: 336
    Danny9995 LISTEN TO Deadhorse he is the man when it comes to PMs. Danny take it slow and learn first.
  • Options
    mkman123mkman123 Posts: 6,849 ✭✭✭✭
    what asin said. Deadhorse really knows his stuff, I've tested him only to get whooped! image
    Successful Buying and Selling transactions with:

    Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
  • Options
    gecko109gecko109 Posts: 8,231 ✭


    << <i>It seems like every time the stock market goes up so does silver and when the stock market goes down so does silver. Stock market up 900 ( 11%) yesterday and silver has now gone up about 11% since yesterday. We all know that the stock market will get back to 14,000 and higher in the next couple of years and the economy will take off again and when it does silver will be 20+ easy. Also, I am hearing that almost all banks had to sell their PM's to meet their obligations, so that is a reason for depressed prices. When the economy picks up, those banks that still exist are going to be looking to buy back millions of ounces. >>




    Not to be mean, but its awfully hard to take advice on "buying all the silver I can afford" from a guy who admits to the world he owns just 86 ounces of the stuff.
  • Options
    mkman123mkman123 Posts: 6,849 ✭✭✭✭
    what gecko was trying to say is danny9995, you need to buy some pandas for your collection imageimageimageimage
    Successful Buying and Selling transactions with:

    Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
  • Options
    cohodkcohodk Posts: 18,621 ✭✭✭✭✭
    OK.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • Options
    ttownttown Posts: 4,472 ✭✭✭
    Ok? This might be a more interesting topic:

    large U.S. bank or two sold a massive number of COMEX silver futures contracts
  • Options
    cohodkcohodk Posts: 18,621 ✭✭✭✭✭


    << <i>Ok? This might be a more interesting topic:

    large U.S. bank or two sold a massive number of COMEX silver futures contracts >>



    Seems like they were good traders to me. Isnt the idea to sell high? They were not selling to "knock" the price down. They were merely taking advantage of a parabolic move at the end of a 6 year--400% rally. The top was fairly easy to see and was even presented in graphical format in this thread.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • Options
    ttownttown Posts: 4,472 ✭✭✭


    << <i>

    << <i>Ok? This might be a more interesting topic:

    large U.S. bank or two sold a massive number of COMEX silver futures contracts >>



    Seems like they were good traders to me. Isnt the idea to sell high? They were not selling to "knock" the price down. They were merely taking advantage of a parabolic move at the end of a 6 year--400% rally. The top was fairly easy to see and was even presented in graphical format in this thread. >>




    Well this is the reason that PM paper is not equal PM physical. Really they need to bring these markets under control esp. if you have banks playing the field with big $$$. This is exactly why oil and other commodies aren't stable and is not in the best interest of the general public IMO. There's a reason why the rich get richer because of advantages like this. This goes both ways and affects bussiness in general. jMO
  • Options
    mkman123mkman123 Posts: 6,849 ✭✭✭✭
    danny9995, did you buy some silver lately?

    I just paid for a 10 oz Amark bar from the BST, should be getting that one soon.
    Successful Buying and Selling transactions with:

    Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
  • Options
    cohodkcohodk Posts: 18,621 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>Ok? This might be a more interesting topic:

    large U.S. bank or two sold a massive number of COMEX silver futures contracts >>



    Seems like they were good traders to me. Isnt the idea to sell high? They were not selling to "knock" the price down. They were merely taking advantage of a parabolic move at the end of a 6 year--400% rally. The top was fairly easy to see and was even presented in graphical format in this thread. >>




    Well this is the reason that PM paper is not equal PM physical. Really they need to bring these markets under control esp. if you have banks playing the field with big $$$. This is exactly why oil and other commodies aren't stable and is not in the best interest of the general public IMO. There's a reason why the rich get richer because of advantages like this. This goes both ways and affects bussiness in general. jMO >>



    I will agree that the massive volatility is not conducive to orderly markets.

    One could argue though that what is not in the best interest is keeping physical at a disconnect to paper. Afterall, paper oil, copper, lead, nickel, aluminum are all trading at the physical price.

    Just playing devil's advocate, as it is Halloween.image
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • Options
    roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Seems like they were good traders to me. Isnt the idea to sell high? They were not selling to "knock" the price down. They were merely taking advantage of a parabolic move at the end of a 6 year--400% rally. The top was fairly easy to see and was even presented in graphical format in this thread.

    Banks, Hedge funds, and the PPT as "big traders." What's not to love? Who ever said we needed banks to loan money and make sure it gets returned. I guess those wonderfully smart trading bankers didn't know squat when it came to all those different types of derivatives they were selling and buying hand over fist. Yet the eventual fallout of that was well known here by early 2004. Maybe those great traders should have consulted a few fifth graders?

    I don't believe those banks were good traders. Whatever they did was well-coordinated among multiple banks with the FED, PPT and Treasury whispering in their ears every step of the way on what they wanted them to accomplish.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • Options
    COINB0YCOINB0Y Posts: 4,505
    image
  • Options
    Danny9995Danny9995 Posts: 115


    << <i>

    << <i>It seems like every time the stock market goes up so does silver and when the stock market goes down so does silver. Stock market up 900 ( 11%) yesterday and silver has now gone up about 11% since yesterday. We all know that the stock market will get back to 14,000 and higher in the next couple of years and the economy will take off again and when it does silver will be 20+ easy. Also, I am hearing that almost all banks had to sell their PM's to meet their obligations, so that is a reason for depressed prices. When the economy picks up, those banks that still exist are going to be looking to buy back millions of ounces. >>




    Not to be mean, but its awfully hard to take advice on "buying all the silver I can afford" from a guy who admits to the world he owns just 86 ounces of the stuff. >>



    Actually its 246 ounces, I just havent recieved the 160 yet. Its paid for but hasnt arrived. I just started buying silver. wasnt buying it when it was $21. And I am not saying that the stock market always correlates with silver, but lately it has. And I am not trying to be mean to deadhorse or anyone else either, but if he really thinks the stock market will be closer to 6000 than 14,000 ( =lower than 10,000) 1 year from today, well I will take that bet.
  • Options
    mkman123mkman123 Posts: 6,849 ✭✭✭✭
    danny9995, thats a good start. We all start somewhere! Keep buying more silver when you get a chance.
    Successful Buying and Selling transactions with:

    Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
Sign In or Register to comment.