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Pssssst..................Silver is sneaking up.

jmski52jmski52 Posts: 22,798 ✭✭✭✭✭
in Precious Metals
I wonder if silver is lifting off the floor. It's $11.51 now.
Q: Are You Printing Money? Bernanke: Not Literally

I knew it would happen.

Comments

  • CladiatorCladiator Posts: 18,038 ✭✭✭✭✭
    Dunno, I just hope it stays below $15 until I'm done buying.
  • DeadhorseDeadhorse Posts: 3,720 ✭
    I had said to another poster, privately, to watch silver during the December 10 - 20th time frame.

    I felt that would be a good indicator for the first quarter of '09. In fact, that move and the ones in late December and now continuing is a roadmap to increasing prices.

    It moved up fairly strong in that December time frame, in the past this has signaled a strong rally for the early part of the following year.

    While I am a bit reluctant to apply the old rules(those that applied prior to last summer) it would be nice if we could again reach some semblence of logic and sanity. So, going by the old rules, I don't see any resistance to a spot rise at least till we see $16+ again. We could see this within the first 5 months of '09.

    It's difficult to trust in the patterns that were established over so many years due to the clear manipulation that wrecked everything in the metals market, so I am going to watch and see for now.

    I suppose it depends on how long this defaltionary cycle continues, but silver seems poised to outpace dramatically any sort of inflation that is certainly going to engulf us in the future. Or is it near future?
    "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
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭
    It's been a nice return so far. I bought a lot of junk silver when it was in the low $9. And some TeletradeDirect Vancouver one ouncers in the $13 range.

    Ren
  • rgCoinGuyrgCoinGuy Posts: 7,478 ✭
    I bought a lot in the 12-13 dollar range using the cashback deal, with the intentions of reselling this year (of course keeping some too). This has been a great last 30 days or so!
    imageQuid pro quo. Yes or no?
  • DeadhorseDeadhorse Posts: 3,720 ✭


    << <i>I bought a lot in the 12-13 dollar range using the cashback deal, with the intentions of reselling this year (of course keeping some too). This has been a great last 30 days or so! >>



    Give it another 90 days, you may forget about the last 30.

    Time will tell, but the seeds for a sharp rise have been sown and unlike many, I don't expect to see the premiums fall off anytime soon either.
    "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
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    I'm cashing in and selling my gigantic ginormous hoard when it hits 12.01 imageimageimageimage j/k

    Up up we go! Go silver!
    Successful Buying and Selling transactions with:

    Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
  • rgCoinGuyrgCoinGuy Posts: 7,478 ✭


    << <i>

    << <i>I bought a lot in the 12-13 dollar range using the cashback deal, with the intentions of reselling this year (of course keeping some too). This has been a great last 30 days or so! >>



    Give it another 90 days, you may forget about the last 30.

    Time will tell, but the seeds for a sharp rise have been sown and unlike many, I don't expect to see the premiums fall off anytime soon either. >>



    image

    I appreciate the advice, and am really thinking along the same lines. I will probably only do limited sales the next couple months and just keep my eyes open to what's happenning, and of course the lively discourse here! Thanks DH!
    imageQuid pro quo. Yes or no?
  • Norseman88Norseman88 Posts: 962


    << <i>

    << <i>

    << <i>I bought a lot in the 12-13 dollar range using the cashback deal, with the intentions of reselling this year (of course keeping some too). This has been a great last 30 days or so! >>



    Give it another 90 days, you may forget about the last 30.

    Time will tell, but the seeds for a sharp rise have been sown and unlike many, I don't expect to see the premiums fall off anytime soon either. >>



    image

    I appreciate the advice, and am really thinking along the same lines. I will probably only do limited sales the next couple months and just keep my eyes open to what's happenning, and of course the lively discourse here! Thanks DH! >>


    I'm gonna give you some advice, you don't have to follow it or even listen to me if you want but at least consider it.
    If you bought enough at $12-13 to help you sleep well at night then why would you want to sell after making a couple dollars profit?
    If you don't have enough physical silver then maybe you should look to add a little more in the $11 range or possibly less if it pulls back from here but only if funds permit doing so.
    The reason I say you shouldn't sell after a small profit is what if you miss out on the final blowoff stage and can't get back in until it's run significantely, or worse an actual physical shortage develops and you can't buy it at any price which would surely trigger panic buying by end users and even some uninformed investors willing to jump in at any price?image
  • SmittysSmittys Posts: 9,876 ✭✭✭✭✭
    I was lucky and got 80 SAE with cashback at 10.00 a piece
    and had bought 1000 maple leaves when silver was at 8.88
    So I'm really smiling
    However I dumped out of my paper Silver ETF's at 10.02...image
    https://www.ebay.com/str/christyscoins
  • rgCoinGuyrgCoinGuy Posts: 7,478 ✭
    I have two piles, I got out of stocks completely and paid off all my bills (other than my mortgage) early last year. I have my stash pile (I am new to the PM stash building process, but I am still 20 years plus off of retirement, so I have time), and then I put some money in a "play pile" stash to play with this year (buying and selling, and not just necessarily PM's - could be anything.) So turn over on this pile is important, obviously maximizing the profits I make.

    I completely understand your point DH, it is just that I have to have two separate heads in this game given my current circumstances. I am treating the "play with" pile as a business venture that requires buying and selling things, kind of a second job if you will. The object is to continue to increase the capital of this fund. The Cash Back deal was basically 25% of free money on 10K, provided physical prices don't decrease dramatically while I am holding them.

    Again, I appreciate the advice, and get a lot of good information from you and the others on both sides here. Of course, I also stay in touch with a lot of other opinions, news, world happenings, etc. from other sources.
    imageQuid pro quo. Yes or no?
  • cohodkcohodk Posts: 19,071 ✭✭✭✭✭
    Silver will probably make an attempt at $14 which is the downward sloping 200 dma and previous price resistance. I would not expect this area to be broken easily or soon.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • JulioJulio Posts: 2,501 ✭
    My knowledge of the functioning of the PM market is woefully inadequate.

    I've been slowly accumulating for around 30 yrs and haven't learned much.

    I've learned more in the last 3 years after I joined the forum then in the previous years. So thanks to all who have helped me come to a better understanding. Take Care, jws
    image
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