What up Monday? More PM feast or a bit of famine?
MilesWaits
Posts: 5,349 ✭✭✭✭✭
Gonna head in and have a heart to heart with my favorite B$M on the first day of the week.
I may give him some love, some mojo, some metal; not sure.
I am still in the winging it phase. So far, it has been berry good to me.
How is your Karma troops?
Miles
I may give him some love, some mojo, some metal; not sure.
I am still in the winging it phase. So far, it has been berry good to me.
How is your Karma troops?
Miles
Now riding the swell in PM's and surf.
0
Comments
all time highs in late May to early June. Unless you plan to quickly flip metals back and forth, this next 1-2 weeks will be just noise.
Options expiration in the metals Tuesday-Wednesday, TBond auction week Tu-Thurs, FMOC meeting Tuesday and Wednesday The only bullish thing is a heavy
POMO day on Monday. But POMO is then again off the table until Thursday/Friday. That leaves Tuesday and Wednesday as prime target days for the metals.
They might get away with some sideways movements, but I don't think so since they've moved up so much since March 15th (gold at $1380). A +$132 gold move
is ripe for a 2-4% correction. If gentle Ben comes out confirms QE3 on Wednesday, well then things will take off. But I don't think we're going to see that.
roadrunner
Monday = more AGQ!
"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 was looking for and buying collectible coins and checking up on ongoing business. Tulip mania in full speed at both shops, a lot of these buyers don't know why they are buying ---they're just opening up the wallet.
I might be thinking that this thing is going to blow by $50 real fast. I'm shaking my head at the amount of business in the second shop. The small shop passed on a 100OZ Englehard while I was there and referred the customer to the larger shop.
half a 6pk or half a 12pk
Had an old timer tell me when it was in the mid $20's (Silver) that I should just buy as much as I can for as cheaply as I can. Seems to be working, he was right. And I was one of the ones saying when it finally hit $30 that that was it...back to $20 it'll go. I was right for like 2 days, it dipped to $27ish and then took right back off.
Bottom line, no sense fighting it. I've been convinced recently that there really may be no limt to this run.
And for me to say that...the contrarian that I am, well lets just say I'm big enough to swallow my pride and admit being wrong about this since $30 or so and I'm on the band wagon now.
<< <i>One small shop's inventory you could hold in one hand, going out faster than coming in. >>
Talked with my local dealer tonight and he had the same story. Still more buyers than sellers and he said people will pay $50+ for generic silver.
That would be your first big mistake.
(Although I still really, really, really like the idea of owning alot of silver right now.)
I knew it would happen.
<< <i>Until FED quits purposely beating the dollar down, PM's will continue their stellar climb, silver hitting $50 possibly this coming week (and OPA sending me my free silver bar two months earlier than expected). First ever FED news conference on Wednesday, big moment for a lot of markets. >>
I agree! I think the prices will continue to rise next week.
(x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
mariner67, and Mikes coins
<< <i>Tulip mania in full speed at both shops.......... >>
I think it's more like people are abandoning a rapidly sinking $ $ Titanic into a silver life boat.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>I should point out that I have consumed a half of a Sam Adams and am not responsible for what I typle, but I think silver will blow past $50 this week and then take a 8-10% correction when it not quite hits $55. $55 is such a nice round number for people to shoot for........ >>
Happy Easter all.
Sam Adams brews are like a side dish to me at any meal not just a beer. Will have 2-3 this afternoon with Easter dinner.
<< <i>Perry, the reason I referred to it as tulipville is that most of these buyers I observed were first timers and just didn't have a clue. They will be the first to go south on silver when (if) it corrects sharply. These type of people react to the news rather than act before the news. That's a bad analogy but it's the best I can do before 6 cups of coffee. >>
I see your point. Some will bale out at the first sign of a correction while others will have the foresight to use a correction as a buying opportunity.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>Perry, the reason I referred to it as tulipville is that most of these buyers I observed were first timers and just didn't have a clue. They will be the first to go south on silver when (if) it corrects sharply. These type of people react to the news rather than act before the news. That's a bad analogy but it's the best I can do before 6 cups of coffee. >>
First time PM buyers have a clue or they wouldn't be buying. They're just late to the game but still smart enought to get in. I agree they are probably the first to bail, but keep in mind they are helping drive up the price.
"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
In God We Trust.... all others pay in Gold and Silver!
Enjoy.
(x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
mariner67, and Mikes coins
Proud recipient of two "You Suck" awards
(x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
mariner67, and Mikes coins
That means the doaller is toast.
Time for a
roadrunner