Where will you be if silver drops below 40 ?

edmundfitzgerald · May 2, 2011 6:40AM

What camp will you be in if silver hits below 40 ?

storm888 · May 2, 2011 7:11AM

Strong nibbler between $38 and $33.

Watcher between $32 and $24.

Strong watcher between $23 and $14.

Below $14, STRONG buyer.

Below $10, strong nibbler.

................

DrBuster · May 2, 2011 7:27AM

I'm the lone 'truck' guy right now. Kind of off though since I only do physical, so i'd really drive my chevy to the b&m and buy whatever I could.

derryb · May 2, 2011 7:28AM

the "still looking good camp." Most of my physical was purchased for less than $17. Most of my paper (retirement accounts) was purchased around $29. When it gets to $10 I'll start cutting losses.

OPA · May 2, 2011 7:39AM

I don't see a: "up substantially" 100%+ check off.... I'll be biding my time. Corrections normally do not occur in a 1 or 2 day period.

jmski52 · May 2, 2011 7:40AM

Pucks might be my longterm strategy from this point forward. How lame is that?

Bear · May 2, 2011 7:49AM

I will be hiding under my bed.

fiveNdime · May 2, 2011 8:04AM

back the truck up!

sitting plush with a royal flush

morgansforever · May 2, 2011 8:15AM

Below $40, like holding 4 Aces, I'm all in.

mhammerman · May 2, 2011 8:43AM

"Pucks might be my longterm strategy from this point forward. How lame is that?"

Pucks, yeah, that's the ticket.
Can't for mine to arrive from last weeks Mint sale.

fishcooker · May 2, 2011 8:58AM

I'll be in the group who buys when these new "investors" can't stand it anymore and sell to eliminate the pain.

JamesMurray · May 2, 2011 9:06AM

I'll be in the same camp ive been since 2007 , sitting on a pile of Canadian and Australian and getting on with planting for the new season.Ive no intention of selling at any price , if it drops i buy more but it would need a heck of a drop to intice me.

57loaded · May 3, 2011 12:27AM

<< the "still looking good camp." Most of my physical was purchased for less than $17. >>

ditto

DrBuster · May 3, 2011 12:46AM

Apart from the 15oz I ordered between last week and today (puck and some rounds) I think I'm averaged at about $19-20~/oz for my measlee stack.

Bochiman · May 3, 2011 3:08AM

$41.60 right now, so it is getting close.
As for me.....neither selling below $40 (for things sold at spot price), nor planning to buy for bullion (aside from maybe the hockey pucks).

Would have to go sub-$30 or lower for me to want to "back up the truck" on silver.....way too much manipulation and things that can be done, outside of my control, to trust in it.

SlangNRox · May 3, 2011 3:24AM

Nothing will change below $40 for me. I'll still have the same amount of silver. Don't plan on buying any more or selling any in the near future

secondrepublic · May 3, 2011 3:39AM

Silver was under $20 just last fall. I bought all of mine before then so it won't matter if it drops below 40 or whatever. I'm a buyer of silver when it's under $20, not at these prices.

Wingsrule · May 3, 2011 3:49AM

Judging by this afternoon's action, maybe sitting at the dinner table tonight.

renman95 · May 3, 2011 4:05AM

This correction shouldn't be a surprise to us here.

What was a surprise was the enormity of the August run from $18 to $49.

piecesofme · May 3, 2011 4:19AM

This correction shouldn't be a surprise to us here.

Now if that isn't the statement of the year, to date? I'm in the camp that sold off most everything, but it wasn't to cut my losses as the poll asks, it was to lock in profit already realized.
Going forward with what i kept and what i've added since my big sell off (2.5 bags of 90% was big for me), I am cautiously buying. So I didn't vote because none of the choices applied to my situation really.

percyb · May 3, 2011 4:43AM

I'm on hold at the moment looking to see if we get another day of selling before stepping in with bids.

RobertS · May 3, 2011 4:46AM

Well silver just dropped because I acquired some lol I am in at 45.50 plus the 3.50 tulving fee OUCH Good thing it was some extra cash I had laying around so I can sit on it indefinitely, but the pain is still the same. Maybe when it gets lower i will acquire some more, this will probably be a race to the bottom...

BigRick · May 3, 2011 5:07AM

I'll be in bed sleeping tonight when Silver breaks below 40.

DoubleEagle59 · May 3, 2011 6:54AM

Back in 2008 when silver dropped from $21 to $10 practically in 24 hours, I didn't lose one minute's sleep that evening.

Things haven't changed this time around.

Still snoozing away!

secondrepublic · May 3, 2011 7:12AM

<< Below $14, STRONG buyer.

Below $10, strong nibbler.

................ >>

Let me get this straight, if it falls to $13 you are going to buy a bunch, but if it falls to $9 you'll buy less?

I guess it depends why you think it has fallen/is falling. But that approach seems counterintuitive to me.

JustaRookie · May 3, 2011 7:16AM

Most of mine was pusrchased way back at the 6-7 dollar level which was quite substantial. I made another huge purchase at the 13-14 dollar mark and have not sold any as of yet so I realy don't care at this point unless it hits $75 plus then I will consider selling some. I have 10-15 years before I am on the really want/need to sell point so I just keep riding the coaster in the mean time. :-)

Leham · May 3, 2011 8:01AM

what are "pucks"

storm888 · May 3, 2011 8:18AM

<< 

<< Below $14, STRONG buyer.

Below $10, strong nibbler.

................ >>

Let me get this straight, if it falls to $13 you are going to buy a bunch, but if it falls to $9 you'll buy less?

I guess it depends why you think it has fallen/is falling. But that approach seems counterintuitive to me. >>

////////////////////////////////////////////////////////////

Silver has fallen below its production cost in the past.

Below $10, it scares me MUCH more than it does at $13.75+.

................

If deflation is a severe threat, we should know it by the
time silver is in the low-teens. It would be silly to buy
into anything that had no upward pressure.

I still think silver sees $100 before it sees $10, but I like
to buy into stuff that I SEE going up.

Buying deflated real estate produces income; buying a
deflated commodity can produce a two-decade wait.

.................................

Folks who have no silver should buy some.

Folks with lots of silver should consider taking some profits,
AND/OR becoming a watcher for a bit.

Spooly · May 3, 2011 11:40AM

I will be a buyer at $34oz, but the charts must look right.

jmski52 · May 3, 2011 12:09PM

what are "pucks"? Look Here.

Otherwise known as "America The Beautiful 5 oz. Silver Quarters", the bullion versions are distributed by Authorized Mint Distributors, and the "collector versions" are being sold directly by the Mint.

Not to be confused with the actual America The Beautiful Quarters, of which there are both clad circulating versions, and proof silver sets.

The reason I like the 5 ozers right now is because I still want to add to my silver position - in smaller bites now, but nevertheless still accumulating. The numismatic aspect keeps my interest, and so does the larger design size.

BigRick · May 3, 2011 8:18PM

Well I already woke up & it only got down to $40.335 overnight - oh well. Maybe it'll break 40 before the open of the pit session (when the day REALLY starts

).

gsa1fan · May 3, 2011 8:26PM

<< what are "pucks" >>

A big or I say huge .999 state quarter. Mint gonna ride state quarter success to infinity I suppose.

Could be they just have no more good ideas. I'm just bumfuzzeled to why a 5oz quarter design

OPA · May 4, 2011 12:00AM

<< Where will you be if silver drops below 40 ? >>

You might want to revise you thread to $30 from $40

CoinCoins · May 4, 2011 12:02AM

then i'd take a dump in every pair of pants i own

pmcollectour · May 4, 2011 12:11AM

Who are the 30 people who said "backing up the truck" ?

The silver market is very overleveraged right now. Too many people bought on margin that are going to get squeezed out.
Perhaps 28 will be the max threshold for most of them.

123Slider · May 4, 2011 12:15AM

<< Who are the 30 people who said "backing up the truck" ?

The silver market is very overleveraged right now. Too many people bought on margin that are going to get squeezed out.
Perhaps 28 will be the max threshold for most of them. >>

I guess they are busy backing up the truck. I'm sure they will check in later

renman95 · May 4, 2011 12:27AM

As per the OP, where am I? Brazil. I saw it just hit $39.99 on Kitco. And to boot, the exchange rate is the worst I've ever personally seen. Last night I shared a 3.5 liter Tower of Power (Brahma beer) with some comrades and it cost me 50 Reais...$35!

MrOrganic · May 4, 2011 1:11AM

<< As per the OP, where am I? Brazil. I saw it just hit $39.99 on Kitco. And to boot, the exchange rate is the worst I've ever personally seen. Last night I shared a 3.5 liter Tower of Power (Brahma beer) with some comrades and it cost me 50 Reais...$35!

>>

luv Brasil!

been to Rio, Bahia, Santa catarina

hopin to go this jan

fiveNdime · May 4, 2011 1:16AM

<< I guess they are busy backing up the truck. I'm sure they will check in later

>>

i had to get gas. took >2oz to fill er up!

DrBuster · May 4, 2011 1:21AM

I'm one of the truck guys, I bought yesterday. No skin off my back though, just added my normal budget to the stack, not going to worry about a couple bucks on a 10oz purchase, especially when I'll put that next to my roll of $5/oz eagles.

lightcycler · May 4, 2011 1:31AM

Just sold my puts at a very nice profit. Buying silver today. Not a very big truck but got my Tonka backed up to the dock

renman95 · May 4, 2011 1:31AM

<< 

<< As per the OP, where am I? Brazil. I saw it just hit $39.99 on Kitco. And to boot, the exchange rate is the worst I've ever personally seen. Last night I shared a 3.5 liter Tower of Power (Brahma beer) with some comrades and it cost me 50 Reais...$35!

>>

luv Brasil!

been to Rio, Bahia, Santa catarina

hopin to go this jan >>

Get your Reais now.

Spooly · May 4, 2011 3:35AM

I got my checks from APMEX, had to hurt their feeling cutting checks for 48.28 and 50.32 per oz and the market is in a major correction! I'm going to buy all the silver back I sold at $34.....

lightcycler · May 4, 2011 4:44AM

No matter where you go. There you are

Spooly · October 26, 2012 4:09AM

Just to cheer everyone up!

OPA · October 26, 2012 5:25AM

<< I got my checks from APMEX, had to hurt their feeling cutting checks for 48.28 and 50.32 per oz and the market is in a major correction! I'm going to buy all the silver back I sold at $34.....

>>

cohodk · October 26, 2012 7:45AM

Looks like a lot of folks underwater with this store of value.

jdimmick · October 27, 2012 12:40AM

There going to be even more underwater after next tue

roadrunner · October 27, 2012 1:52AM

<< There going to be even more underwater after next tue >>

Price....tropical storm....or both?

jdimmick · October 28, 2012 3:08AM

Not referring to the storm, I wish all well who has to ride this out. Talking about the price and the following wed dependent on election outcome.

johnny9434 · October 28, 2012 6:55AM

<< Nothing will change below $40 for me. I'll still have the same amount of silver. Don't plan on buying any more or selling any in the near future >>

Where will you be if silver drops below 40 ?

Comments