Pssssst..................Silver is sneaking up.
jmski52
Posts: 22,899 ✭✭✭✭✭
I wonder if silver is lifting off the floor. It's $11.51 now.
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I knew it would happen.
I knew it would happen.
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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?
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
Ren
<< <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.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
Up up we go! Go silver!
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<< <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. >>
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>
<< <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. >>
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?
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...
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.
Knowledge is the enemy of fear
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