There be some buying goin' on out there - May 3rd.
Mesquite
Posts: 4,075 ✭✭✭
And I, for one, am pleased.
There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.
–John Adams, 1826
–John Adams, 1826
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<< <i>Why are you pleased that it will now cost you more of your cash for the same amount of metal you could have bought last week for less money? Did you get a raise in your salary that reflects the rise in cost of gold/silver? Im still making the same this week as I did last week. >>
Maybe he has reached his PM goals.
Hims must got lots to sell at his target sell price. Wish I did....
Too many positive BST transactions with too many members to list.
–John Adams, 1826
<< <i>Well, I'm still buying silver, just not today. It is nice to see in real-time that the value of what you are purchasing does go up from time-to-time. Kind of reinforces what we're doing. >>
I agree with you plus some of us have significant positions in PM stocks and options.
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<< <i>Why are you pleased that it will now cost you more of your cash for the same amount of metal you could have bought last week for less money? Did you get a raise in your salary that reflects the rise in cost of gold/silver? Im still making the same this week as I did last week.
We all have different circumstances and motives. I'm self employed and what I earn is limited only by my own luck and pluck. If my income wasn't elastic I might agree that higher prices are not welcome. Today I am happy to see this most recent price rise because I intend to take profits by selling SLV and GLD holdings.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
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<< <i>Why are you pleased that it will now cost you more of your cash for the same amount of metal you could have bought last week for less money? Did you get a raise in your salary that reflects the rise in cost of gold/silver? Im still making the same this week as I did last week.
We all have different circumstances and motives. I'm self employed and what I earn is limited only by my own luck and pluck. If my income wasn't elastic I might agree that higher prices are not welcome. Today I am happy to see this most recent price rise because I intend to take profits by selling SLV and GLD holdings. >>
So its good for the gamblers...not so good for the stackers though.
Sure, everyone wants to buy "right" and to get a good deal, however...............................
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The goal is to preserve your wealth. The fact that it is denominated in nominal dollars is totally, and I mean totally irrelevant.
Sometimes, it goes up and sometimes it goes down. Cohodk thinks it's not going to move much at all for awhile. Not to worry. If you never buy, you simply won't be along for the ride.
I knew it would happen.
<< <i>If you think that the prices are too high to buy today, give it a few days. If the prices start going lower, will you be afraid to buy then as well, thinking that the price could continue to go lower and then you would be losing money?
Sure, everyone wants to buy "right" and to get a good deal, however...............................
.......................................................................................................................................
The goal is to preserve your wealth. The fact that it is denominated in nominal dollars is totally, and I mean totally irrelevant.
Sometimes, it goes up and sometimes it goes down. Cohodk thinks it's not going to move much at all for awhile. Not to worry. If you never buy, you simply won't be along for the ride.
I DCA my way into the game. For this reason, I do not put too much stock into the "falling knife" theory. I have never sat there and said to myself "gold fell 3% over the past week, I better wait for it to stabilize before I buy". But I have said to myself "dammit, I have been saving money for a 5 oz purchase, and now its gonna cost me 3% more than it would have last week". I just want to get the most gold/silver for the least amount of dollars. And because my salary doesnt fluctuate by 3% per week, I hate seeing gold increase 3% in a week.
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<< <i>Why are you pleased that it will now cost you more of your cash for the same amount of metal you could have bought last week for less money? Did you get a raise in your salary that reflects the rise in cost of gold/silver? Im still making the same this week as I did last week.
We all have different circumstances and motives. I'm self employed and what I earn is limited only by my own luck and pluck. If my income wasn't elastic I might agree that higher prices are not welcome. Today I am happy to see this most recent price rise because I intend to take profits by selling SLV and GLD holdings. >>
So its good for the gamblers...not so good for the stackers though. >>
Its not a zero sum game. I like physical as long term wealth insurance and GLD/SLV for short term profits. The recent rise pleases me whichever hat I'm wearing.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
Lol. So, you don't get into to the "falling knife" theory, but you do agonize over the "last train to Clarksville" theory? If you don't have the money this week, wait another week and tack that 3% on next week. The gold (hopefully, probably) will still be there, waiting to be bought. It can be frustrating to be forced into waiting, but otherwise you are not cost averaging - you are being whipsawed by the market.
Be glad that you are probably doing a very smart thing in the first place by buying precious metals. A week or two is nothing in the scheme of things when your financial security is at stake.
Full disclosure - I've been sitting on a medium-sized pile of cash for months. It's my SHTF pile in case the financial system goes "ker-plunk" in some kind of overnight surprise ending and the banks decide not to be banks. I'm seriously thinking of putting another 50% of that cash into metals, just to protect another fraction of my total assets. I have to weigh that move against the fact that my overall metals position is just fine, and that some of the value in that cash must be sacrificed in order to assure its availability.
Yes, it might be difficult watching gold go up while having available cash, but it depends on what your overall goals really are.
I knew it would happen.
Well...............yeah. I'm not into abuse either, but it is what it is.
I knew it would happen.
<< <i>Ok. Just a matter of perspective I guess. If I wanted to unload all my metal today, then i'd be happy too. But since I have a good 15 years of buying left, Im the guy that boos when prices creep upward. I like buying my metal for LESS money, not MORE money! >>
I only have a couple of years before I sell, so I prefer the 10 cent a week gradual creep
What happens after 15 years? I am referring to the price of PMs, not yourself.
Knowledge is the enemy of fear
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I knew it would happen.
<< <i>Gold isn't declining, the dollar is rising (for some reason).
The Euro is doing an ole' and since it makes up over half of the index it make sense in light of Greece/Portugal/Spain............yes, we have our own California, Florida and Nevada issues but the low hanging fruit today is the Euro...........MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......