When silver hits $21/oz

30AnvZ28

Do we expect a big stall while those from March/April 2008 try to get out from under their initial investment?

1970SilverArt

There might be some people that will unload when silver goes back to the March 2008 high, I do not think that it will stall the silver rally. I think that there will probably be more people buying silver as it keeps going up. We will have to see what happens.

piecesofme

I think alot of those people sold in defeatist panic when it went down to, what was it, $11 & change. I think this is nearly all new $ pouring into metals. Trading of spot is different from physical too. Volumes are really light in general, therefore, it can move hard one way or the other due to lack of what I call the volume struggle.

cladking

<< <i>Do we expect a big stall while those from March/April 2008 try to get out from under their initial investment? >>



The virility of a resistance level is based on the lenght of
time and dollar volume a commodity traded at that level.
There is no major resistance until $24 and then more at
$38. These levels are so old that they might have lost their
potency. 24 will take some backing and filling though.

roadrunner

I bought about 550 oz of silver at the $21 high 2-1/2 years ago by getting swept up into the euphoria and actually seeing a deal that was 3% under market. So I bit...and got burned a few days later. But I won't be selling it any time soon. I also added to my silver stash this year by purchasing a nice orig group of 40 rolls of CH BU Morgans put away back in the early 1970's which were marked at $3 each. If silver goes much higher I'll be in those for the same price as circs.

roadrunner

ProofCollection

I'm not sure the logic is there... if you bought at $21, and it makes it back to $21 again, why sell? Just because you are break even again? Those who bought it then thought it was going higher and are probably still of the opinion that it will continue higher. Even if what OP suggests does happen, the volume of trades it represents is probably neglible in overall effect on the market.

The move in silver is overdone IMO and needs to take a break for a week or two, but there's no reason it can't go higher.

roadrunner

Gold and Oil Guy on PM's

The Gold & Oil Guy called for a correction last Friday and it went the other way. Today he came out with a 2 day chart that showed silver in a bearish rising wedge, almost certainly ready to fail. Well after a few nickels down it broke up and out away from the bearish wedge. So much for TA always being right. Enough calls for a correction and G&O Guy will eventually be right. For now, next step is $21. After consolidating for 2-1/2 yrs, silver can be allowed a little fun to run. Those ascending triangles hold some potent energy.

roadrunner

ProofCollection

Just hit $21.00....

CoinCrazyPA

When do you guys sleep assuming you are in the eastern USA?

Meltdown

I for one am just happy to see the upward movement on the charts.
I've been a consistant buyer since 2006 and am optimistic about the potential for silver to easily to double where it is now over the next five-ten years...
In the meantime, as long as the overall fluxuation is slowly up, there's no rational reason for getting too excited.
Having typed all that out, I'll admit that I still get pretty damn giddy.
A lot of the time, I'm cash poor on the downward dips and spending like a kid at a candy store when silver is high because of my excitement. (each & every one of you on this PM board is largely at fault for that)
In the last 3 days, I've added 12 ounces to my stash while silver has been over $20. Keep on Stackin' right?

OPA

Mmm ... not sure if I share your sentiments ... been slowly selling silver that I purchased at around $12 & will continue to do so, if market conditions permit. My last several hundred ounces were hesitantly purchased at $19.80, but I do not intend to purchase anymore at current highs within the foreseeable future. Waiting for the next dip before I jump back in.

COINB0Y

<< <i>I also added to my silver stash this year by purchasing a nice orig group of 40 rolls of CH BU Morgans put away back in the early 1970's which were marked at $3 each. >>



That is Fantastic!!

jmski52

I bought about 550 oz of silver at the $21 high 2-1/2 years ago by getting swept up into the euphoria and actually seeing a deal that was 3% under market. So I bit...and got burned a few days later. But I won't be selling it any time soon. I also added to my silver stash this year by purchasing a nice orig group of 40 rolls of CH BU Morgans put away back in the early 1970's which were marked at $3 each. If silver goes much higher I'll be in those for the same price as circs.

I bought that amount at the same time, and I could think of no better alternative place for the money. The same is true now. Nice move on the BU rolls, rr!

roadrunner

Coinboy, those rolls were sold for $3/coin back in the early 1970's. I had to pay real money earlier this year for them. I think silver was around $16-$18 at the time. I just sort of liked the idea of a nearly 40 yr old fresh deal....even though eventually these will probably end up in the melting pot down the road. In fact even with silver climbing 20% since then, I'd bet the price on the rolls hardly budged.

When do you guys sleep assuming you are in the eastern USA?

You're right. What sleep? lol.

roadrunner

renman95

I remember buying junk silver way, way, way back in the Winter of 2008 while it was around $9. Is there anything else that has doubled in this time frame? I'm sure there a stocks that did great if you bought in March of 2009. But in the coin-world a double this quick is welcomed. Another double from here. I think so...eventually...maybe in 2-4 years.
I thought the Chinese were allowed to buy silver. I knew about their gold buying and assumed silver buying was a given. That could be huge when <C6P> gets priced out of gold.

C6P - Chang six-pack.

piecesofme

<<Waiting for the next dip before I jump back in>>

One thing's for sure, you wont be alone. That will be a crowded push if it happens. I remember taking a day off work 1 time when I thought silver had bottomed out so I could make the rounds at all the local B&M's. I laid out some major cash that day, but I made significantly more off of it than I wouldve made working that day.

That why i'm stockpiling cash now rather than metals. Still buying metals now, just not as at high quantity. I want to be read IF there is a dip.

57loaded

someone said it's about how many ounces you have, not how much you paid