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Goodness gracious and sweet honeybees, silver is just TANKING!!!!

BigEBigE Posts: 6,949 ✭✭✭
in Precious Metals
At what figure are you waiting to buy it at? 17.60 sounds pretty good right now, what do you think?image----------BigE
I'm glad I am a Tree

Comments

  • AgBloxAgBlox Posts: 744 ✭✭
    I'm holding out for single digits, might be waiting for a while...
  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    good, I'd like to buy some more.
    "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)
  • sumrtymsumrtym Posts: 394 ✭✭✭
    Now, not to sound too off putting here, but every time I see one of these threads it reminds me of exactly of people making stock forum posts, including the yelling "buy buy buy" on every dip and "too the moon soon!"

    Just saying, there's more constructive threads here to be pre-occupied with without wading through this every dip / spike. That being said, I do appreciate the actual analysis behind market moves without the doom / gloom or hype, whichever side you might fall on.
  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>At what figure are you waiting to buy it at? 17.60 sounds pretty good right now, what do you think?image----------BigE >>




    don't think so... so far silver has corrected over 10% and so has palladium. I'll wait to see what happens after the dust settles...
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • FistFullOfDollarsFistFullOfDollars Posts: 359 ✭✭✭
    I think i will buy some this weekend...


    I have a very strict gun control policy: if there's a gun around, I want to be in control of it - Clint Eastwood
  • jmski52jmski52 Posts: 22,826 ✭✭✭✭✭
    The value of everything that is denominated in dollars is in your imagination. According to CNBC, the dollar is spiking right now, so what you are really seeing is only a reaction to a migration out of the Euro
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • ZubieZubie Posts: 1,160 ✭✭✭✭
    Palladium is getting hit hard again today!
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  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    The value of everything that is denominated in dollars is in your imagination. According to CNBC, the dollar is spiking right now, so what you are really seeing is only a reaction to a migration out of the Euro

    Agreed. But the commodity charts, once in motion and regardless of outside forces, tend to follow a basic pattern. This one already has 2 impulsive down moves over the past couple of days. That implies to me that the odds are good that a 3rd down wave is lurking, esp considering that gold briefly broke below a key support area of $1162-$1166. Had the waves down so far been meandering or lazy zig-zags that would be less bearish for gold. After a 3rd impulsive drop down, then we can see where things settle.

    While on the surface the dollar looks to be the culprit for PM weakness based on the Euro woes, I'd bet the rug was pulled out from under the SM and commodities by the banks/big funds since this was a convenient time as any with so much news running amock (proposed 40% Australian mining tax, NY car bomber, Greece bailout and rioting, Gulf oil spill, proposed $600 merchandise/service 1099 filing stuffed into health care bill)....hence the jet ride in the dollar.

    It's also convenient that word has leaked out the past week about the IMF secretly selling 15 tons of gold in March as well as a few tons in February. Seems that maybe those guys really don't want to follow their own charter and minimize the upsets in the metal's markets with their sales. I did find it interesting that one analyst felt that Silver rising in price the past few months while SLV inventory fell 6% made no sense at all....unless that drop in SLV inventory was just paper contracts being expunged (ie no metal was actuallysold into the market).

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    the strength in the dollar is illusory. our government's financials are worse than most.
    "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)
  • jmski52jmski52 Posts: 22,826 ✭✭✭✭✭
    While on the surface the dollar looks to be the culprit for PM weakness based on the Euro woes, I'd bet the rug was pulled out from under the SM and commodities by the banks/big funds since this was a convenient time as any with so much news running amock (proposed 40% Australian mining tax, NY car bomber, Greece bailout and rioting, Gulf oil spill, proposed $600 merchandise/service 1099 filing stuffed into health care bill)....hence the jet ride in the dollar.

    It's also convenient that word has leaked out the past week about the IMF secretly selling 15 tons of gold in March as well as a few tons in February. Seems that maybe those guys really don't want to follow their own charter and minimize the upsets in the metal's markets with their sales.

    roadrunner, you said it best, "rinse, lather, repeat............" The VIX volatility index is at highs again, and the only winners are the ones who know in advance which way the money is going to flow. This looks like another contrived stampede into the dollar which can only be good if you own alot of dollars. If you are buying dollar-denominated assets right now, you are already too late.

    Now, in my mind owning alot of dollars when quantative easing is the order of the day makes absolutely no sense. The whole thing is illusory and if one doesn't think for himself, he can stick a thermometer in his turkey and call it done. Unless you are a cohodk or a proof collection or a roadrunner, it is not wise to play with the big boys. They are pathological cheaters.

    The whole system - the stock market, the tax system, the retirement account regulations - is designed to keep skimming money off the backs of the people who work for a living. Not a pretty sight.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • KonaheadKonahead Posts: 1,476 ✭✭✭


    << <i>I'm holding out for single digits, might be waiting for a while... >>





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  • johnny9434johnny9434 Posts: 28,313 ✭✭✭✭✭
    i just wish that i did buy more when it was real low. no one really had faith it the prices then. oh well, will wait till the next one to come around image
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