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Silver sellers coming out of the woodwork on BST Board

piecesofmepiecesofme Posts: 6,669 ✭✭✭
in Precious Metals
Too bad all volume buyers have dried up. 5 of my last 7 transactions have been for 1 10. oz bar when i'm selling 14 for less than spot if you buy all 14. Can you say spooked? Maybe hesitant is a better description.
To forgive is to free a prisoner, and to discover that prisoner was you.

Comments

  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    It's to be expected. A lot of them loaded up on silver in March of 2008 as it was breaking past $20 and certainly on its way to $30.....not.

    Now that they've finally broken even or have a slight profit they are bailing out. Very typical market behavior. Silver will rest at $21 while these former holders unload. Then once that occurs silver can move on. After seeing themselves take up to 50% losses during 2008 they probably feel relieved to get out now in one piece. I too bought about 600 oz during March 2008 and still have it.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • jmski52jmski52 Posts: 22,825 ✭✭✭✭✭
    BST is a somewhat limited venue, kind of hit 'n miss due to the way listings are put into one big category. Not that it's bad, just somewhat inefficient. It's also not a large audience, although it is a good first choice, imo.

    I don't buy silver bars, so I wouldn't be a prospect even if I were looking to buy some silver. Just a preference on my part. Your bars are priced appropriately I think, so it's just a matter of time. When silver goes to $22.00 the ceiling/resistance level established in 2008 will be gone and people will be on your case because you didn't set those bars aside for them!

    Don't worry, I expect this consolidation phase to be short-lived. Silver only went up, what - about $0.50 today?image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    wait for early next month, people get paid and can blow their money image
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  • TrustNo1TrustNo1 Posts: 1,359 ✭
    I'm thinking of selling most of what I have..cant decide...need the cash but hate parting with my stuff
  • jmski52jmski52 Posts: 22,825 ✭✭✭✭✭
    I'm thinking of selling most of what I have..cant decide...need the cash but hate parting with my stuff

    If you have a job, you can always save it back. Use it when you need it and don't get too attached. You can't take it with you and the best time to sell is when you have a good reason to sell it. Just an opinion here.

    P.S. - Yeah, I do understand and I'd rather be accumulating than selling, but everyone has a different situation. I had to grab my trigger finger real hard to keep from buying the Buchanan Golds when I really wanted to buy them, but the cash wasn't there. Just do what is best at the time.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    Some of the best transactions i've ever done were the ones I didnt do...if you know what I mean? Was thinking of buying big and literally it tanked the next day and continued on a downward spiral for a month. It was hard keeping the power dry, because every time it fell another 3-5% i thought that was the new bottom, just to wake up the next day and see it down another 2% LOL. Sometimes thinking of something else you could do with the cash if a great deterant if you have initial doubts in what you'd "like" to do vs. what you want to do.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • TrustNo1TrustNo1 Posts: 1,359 ✭


    << <i>I'm thinking of selling most of what I have..cant decide...need the cash but hate parting with my stuff

    If you have a job, you can always save it back. Use it when you need it and don't get too attached. You can't take it with you and the best time to sell is when you have a good reason to sell it. Just an opinion here.

    P.S. - Yeah, I do understand and I'd rather be accumulating than selling, but everyone has a different situation. I had to grab my trigger finger real hard to keep from buying the Buchanan Golds when I really wanted to buy them, but the cash wasn't there. Just do what is best at the time. >>

    That's true, rainy day silver comes in handy in times like these...
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