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Don't Sell

jmski52jmski52 Posts: 22,824 ✭✭✭✭✭
in Precious Metals
I don't think that it's a good idea to sell into this price rise. If I were inclined to sell at all, I'd surely wait until after any spike and then take my lumps. You will never hit the peak. I'm just sayin. Besides, we aren't there yet, imo.

I'd make the usual exception. Sell only if you really need the money, but hopefully you aren't in that situation.
Q: Are You Printing Money? Bernanke: Not Literally

I knew it would happen.

Comments

  • JulioJulio Posts: 2,501 ✭
    I agree. I did unload some, {too much}, last week. My bad. I haven't seen anything like this since the Hunt brothers. This is different, just wish I could put my finger on exactly what is different. Like another forum member mentioned; we aren't in Kansas anymore. Tis really uncharted territory and I honestly don't know where we are heading. Take care. jws
    image
  • calleochocalleocho Posts: 1,569 ✭✭
    I sold my sterling, silver war nickels and 40% at $25

    Then at $30 i sold most of my 90% and generic bars.

    Yesterday i sold my engelhards and JM bars at $35.

    I am down to just ASE's.

    I bought gold...The dealer seemed quite eager to do the trade.

    "Women should be obscene and not heard. "
    Groucho Marx
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    The normally bearish Bob Hoye who has been calling for an all market crash since November momentum peaks, thinks that gold and silver probably have another couple of weeks left in this move. He is still calling for an all markets crash before end of March.

    I think we could see $40+ silver on this leg. There would be a pretty stiff pullback, but we could then go even higher come April-May-June. From my experiences most of those that sell out of physical never go back to replace it, even at lower levels, for fear it could still go even lower and give them a loss. Then as it rises they are ever-fearful of a crash where they could again lose money. And then when it exceeds the price they sold at, it's now too high. Hence they usually don't get back in. Been there....done that.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • MilesWaitsMilesWaits Posts: 5,349 ✭✭✭✭✭
    Yes, good points about re-entry RR!

    Speaking of which, whatever happended to the eternal "I will get back in, promise, soon" Money LA??

    I miss his contrarian prognistics.

    Miles
    Now riding the swell in PM's and surf.
  • MesquiteMesquite Posts: 4,075 ✭✭✭
    I wonder though, is this a good time to sell some silver and move it into gold (after the decline perhaps?).
    There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.
    –John Adams, 1826
  • calleochocalleocho Posts: 1,569 ✭✭
    By trading silver for gold you keep your exposure to Precious Metals so that you still have skin in the game regardless.

    "Women should be obscene and not heard. "
    Groucho Marx
  • MeltdownMeltdown Posts: 8,789 ✭✭✭✭✭
    I've been back & forth on whether to sell now and just keep some cash handy. I've read decent arguments for both cases.
    I'm in it for the long run either way and can't think of what else I'd do with the money.
    It sure has been an interesting few weeks. The one thing that has me anticipating a decent pullback is all the talk
    of people coming out of the woodwork and dropping all kinds of new money on silver. My shop has been absolutely swamped
    with new buyers. It seems like when everybody and their brother starts buying there's a crash right around the corner.

    Click on this link to see my ebay listings.

  • pitbosspitboss Posts: 8,643 ✭✭✭


    << <i>I sold my sterling, silver war nickels and 40% at $25

    Then at $30 i sold most of my 90% and generic bars.

    Yesterday i sold my engelhards and JM bars at $35.

    I am down to just ASE's.

    I bought gold...The dealer seemed quite eager to do the trade. >>




    I wonder why?
  • taxmadtaxmad Posts: 978 ✭✭✭✭


    << <i>

    << <i>I sold my sterling, silver war nickels and 40% at $25

    Then at $30 i sold most of my 90% and generic bars.

    Yesterday i sold my engelhards and JM bars at $35.

    I am down to just ASE's.

    I bought gold...The dealer seemed quite eager to do the trade. >>




    I wonder why? >>



    With gold @ $1435, it is difficult to find customers willing to pay $75 over spot for a AGE but people will pay $2 over for generic rounds all day long. I would rather make 5% hundreds of time a day than once or twice
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Amazing that not very long ago the general thought process was that there would be no buyers of silver at $25+, just sellers....whatever that means. Now that silver is over $34, the shops are swamped with buyers, not just grannies and grandkids dumping all their silver.

    MoneyLA last I knew still held a position after gold went off above $1100. I'm not aware of him selling out. Then again, he only carried a 5% or smaller position.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • OnlyGoldIsMoneyOnlyGoldIsMoney Posts: 3,362 ✭✭✭✭✭
    I won't sell anything while this run is on.

    Instead I've been adding 50 oz of silver a week since the beginning of the September 2010 breakout. With a DCA of $23.50 I don't see any reason to slow down. Nothing else has given me a 50% return.

    NO END IN SIGHT LIB $2.50'S CAC ONLY
    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
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭


    << <i>I wonder though, is this a good time to sell some silver and move it into gold (after the decline perhaps?). >>



    This is what I did when GSR hit 45. I have more confidence in gold ~personally.
    Avid collector of GSA's.
  • OverdateOverdate Posts: 7,007 ✭✭✭✭✭


    << <i>I wonder though, is this a good time to sell some silver and move it into gold (after the decline perhaps?). >>


    I sold a little this weekend and plan to buy a few shares of a platinum or palladium ETF.

    My Adolph A. Weinman signature :)

  • notwilightnotwilight Posts: 12,864 ✭✭✭
    I took down all my sell prices on the BST board (before I read this thread). --Jerry
  • DrBusterDrBuster Posts: 5,378 ✭✭✭✭✭
    I'm not selling, but man I've been cold on pulling the trigger to buy. Xmas bills, taxes, trip to NY, all monies that I wish would have gotten me a Feb silver purchase $4-5 ago.
  • BarndogBarndog Posts: 20,490 ✭✭✭✭✭
    seems to me that the silver is coming out of the woodwork on BST today. Couch scrapings, change jar stuff, whatever...it's out there. Must have hit a magic price level for most people.
    JR Newsletter Online Edition
  • scotty1419scotty1419 Posts: 928 ✭✭✭
    I'm seeing a ton more 'for sale' listings in silver both on the forum and locally. Not seeing many "buying silver/gold" postings.
  • CollectsItAllCollectsItAll Posts: 34 ✭✭
    I am noticing many more 'buy' ads for 90%/ASEs on my local craigslist in the past week.

    Seems like the general public is finally taking some notice to the price of silver. Signs of a possible intermediate top (to me).

    Not selling any yet, though...as jimski52 said, you can't pick the top but it seems like a mini bubble is forming.

    Still don't think we're in the USD freefall/hyperinflation scenario yet. I still think another round of deflation is in the cards to give a false sense of security in the dollar and stave off the rise in commodity prices a bit. They'll have to do it at the expense of equity prices though...
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    since last week I've seen a ton of craigslist ads wanting to buy 90% silver. At the coin show last week I saw a lot of older folks selling bags of 90% silver and some people buying it.
    Successful Buying and Selling transactions with:

    Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
  • pakasmompakasmom Posts: 1,920 ✭


    << <i>since last week I've seen a ton of craigslist ads wanting to buy 90% silver. At the coin show last week I saw a lot of older folks selling bags of 90% silver and some people buying it. >>



    What show? And how were they selling? By weight or by X face?
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    pakasmom, it was a three day show at the Neil Blaisdell center.

    There were several dealers from the mainland paying 15x FV and the locals were paying 21.5x FV.

    HOWEVER due to perfect location, the dealer paying 15x FV when melt was 23-24x had a ton of people selling to them.

    Why? Because they were right by the entrance so the older folks with canes and walkers didn't even have to go around the entire place but just walked right up to those dealers and sold them bags of morgans, etc and then left.

    Funny thing is a local dealer was right across from these guys and were paying 21.5x FV and had few customers.
    Successful Buying and Selling transactions with:

    Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
  • KUCHKUCH Posts: 1,186
    I'm getting the warm fuzzy feeling, most of us are NOT selling, but rather continue to stack.

    I don't know why I'm asking this question..... cause I think I already know the answer:

    Have a 18 Mo. CD due next week, earning maybe 2%. It's an IRA account.

    Wouldn't the smart PM player cash out half of the amount, buy gold and place the remainder in a 6 M0. CD?

    How many here still have some of their portfolios in CD"s?

    image
  • gecko109gecko109 Posts: 8,231 ✭


    << <i>I'm getting the warm fuzzy feeling, most of us are NOT selling, but rather continue to stack.

    I don't know why I'm asking this question..... cause I think I already know the answer:

    Have a 18 Mo. CD due next week, earning maybe 2%. It's an IRA account.

    Wouldn't the smart PM player cash out half of the amount, buy gold and place the remainder in a 6 M0. CD?

    How many here still have some of their portfolios in CD"s?

    image >>





    Call me nuts, but the smart money cashes out and goes all-in on PMs right now.
  • pakasmompakasmom Posts: 1,920 ✭


    << <i>How many here still have some of their portfolios in CD"s? >>



    I don't pretend to know a fraction as much as most of you... but I'm leaving about 30K in a CD. Small yield=safe.

    For myself, it just doesn't seem like the right timing to increase my metals holdings.
  • gecko109gecko109 Posts: 8,231 ✭


    << <i>

    << <i>How many here still have some of their portfolios in CD"s? >>



    I don't pretend to know a fraction as much as most of you... but I'm leaving about 30K in a CD. Small yield=safe.

    For myself, it just doesn't seem like the right timing to increase my metals holdings. >>




    What CD is offering anything but NEGATIVE yield right now? Unless you want to believe "official government numbers", actual inflation is around 6-10% right now. Show me a CD that pays more than 10%, and I will agree with you completely.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Silver charts

    Some very instructional silver charts from Bob Hoye. He feels that the uptrend line is now firm support at $33 as silver powers on its final leg towards
    $40-$43 by end of March or early April. He has brought out charts from earlier decades to show where his "exhaustion alerts" occured. None are
    currently present. The chart is taking on the general appearance of the move in late 1979.

    The last chart he shows is silver from 1967-1976. It's interesting to see the first 2 upward moves in that bull market. The first one peaked in early 1968
    at around $2.60/oz...then gave most of it back.

    roadrunner

    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • derrybderryb Posts: 36,793 ✭✭✭✭✭


    << <i>

    << <i>How many here still have some of their portfolios in CD"s? >>



    I don't pretend to know a fraction as much as most of you... but I'm leaving about 30K in a CD. Small yield=safe.

    For myself, it just doesn't seem like the right timing to increase my metals holdings. >>


    Safe? I don't consider any bank safe, they're all living on the government teet. The milk will dry up. Most major banks are insolvent and the only thing keeping them afloat is taxpayer handouts and rigged accounting procedures for their tremendous bad debt. You'd be much better off with 30K in silver eagles. What was the price of silver when you bought the CDs?

    I'm with Gecko, I'm completely nuts.

    "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

  • renman95renman95 Posts: 7,037 ✭✭✭✭✭
    There's the core holding that just gets added to no matter....

    Then there's tradable PM just to stay in the game and keep your heart rate up.

  • OverdateOverdate Posts: 7,007 ✭✭✭✭✭
    I prefer to allocate some to CD's and some to long call options.

    My Adolph A. Weinman signature :)

  • KUCHKUCH Posts: 1,186
    Well I'm with gecko and derryb, NUTS. Calling bank tomorrow, cashing out when the CD matures on the 18th and buying alittle gold.

    Gecko you are absolutely correct, money in a CD now a days is losing value, not even keeping up with inflation.

    Man, this is fun......

    image

    Next move...... take some profits out of the stock market and buy alittle more of the yellow metal or maybe a great birthday gift for the spouse.(April 10)

    As you can see, I'm not selling....... Riding this PM train til the fat lady sings.
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