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I Hope Harvey Is Right!

CerealSpillerCerealSpiller Posts: 38
in Precious Metals
Harvey Organ ended his report tonight with this.

"the raid is now over and gold and silver metals will have a good day tomorrow as the bankers try and cover the massive amounts of paper they supplied".

We'll know tomorrow. I want to believe it but don't.

Comments

  • DorkGirlDorkGirl Posts: 9,994 ✭✭✭
    Not working so far.
    Becky
  • derrybderryb Posts: 36,793 ✭✭✭✭✭
    The hardcore speculators are softening up and bailing. May take a day or two for the bottom. Expect another margin increase by COMEX at about that time. The shorts ran out of ammo and called in the COMEX brigade. When COMEX fails to hold the price down look for Washington to take some action.

    "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

  • gecko109gecko109 Posts: 8,231 ✭
    I bet you really wish you took the advice I gave you 2 weeks ago. I recommended you sell half of your silver to recover ALL of your investment capital, and keep the other half of that stack of metal as a "free gift". You should have listened to me. image
  • pmcollectourpmcollectour Posts: 1,211 ✭
    The Relative Strength Index (RSI) is reaching oversold territory on silver, and the oscillators still show that silver can decline on a daily chart. However, silver put in a double bottom formation yesterday, and it may enjoy a small recovery for now. My guess is that we form some kind of support in the 28-32 range within the next month or two.
  • WingsruleWingsrule Posts: 3,010 ✭✭✭✭
    Did you follow your own advice?image
  • CerealSpillerCerealSpiller Posts: 38


    << <i>The hardcore speculators are softening up and bailing. May take a day or two for the bottom. Expect another margin increase by COMEX at about that time. The shorts ran out of ammo and called in the COMEX brigade. When COMEX fails to hold the price down look for Washington to take some action. >>


    At the risk of sounding cliche hind sight is 20-20. You can't time these things. At least I can't and don't try. I'm a stacker and don't like to churn my stack. Most who try end up losing ounces.
  • gecko109gecko109 Posts: 8,231 ✭


    << <i>Did you follow your own advice?image >>




    Cashed out 30% of my holdings on Monday morning @ $46. image
  • KipKip Posts: 852


    << <i>

    << <i>Did you follow your own advice?image >>




    Cashed out 30% of my holdings on Monday morning @ $46. image >>



    Only 30%? Is it coming back up Gecko??
    UCSB Electrical Engineering....... USCG and NASA
  • gecko109gecko109 Posts: 8,231 ✭


    << <i>

    << <i>

    << <i>Did you follow your own advice?image >>




    Cashed out 30% of my holdings on Monday morning @ $46. image >>



    Only 30%? Is it coming back up Gecko?? >>





    I sold as much metals as needed to be able to buy my summer place outright with cash. But unlike the OP, I didnt buy any of those metals on credit.....he did. And since he had an outstanding credit card balance of nearly $60,000....and he was way ahead of the game in what he had into silver.....I simply suggested cashing out half his stack to erase all the debt....and that woulda left him with about half of his pile of metals.....for free. image

    It was the best advice I have ever given in this forum...and hindsight has nothing to do with it. The man bought metals on credit and had a chance to be free and clear with 1,700 ounces of metal that cost ZERO dollars.
  • CerealSpillerCerealSpiller Posts: 38


    << <i>

    << <i>

    << <i>

    << <i>Did you follow your own advice?image >>




    Cashed out 30% of my holdings on Monday morning @ $46. image >>



    Only 30%? Is it coming back up Gecko?? >>





    I sold as much metals as needed to be able to buy my summer place outright with cash. But unlike the OP, I didnt buy any of those metals on credit.....he did. And since he had an outstanding credit card balance of nearly $60,000....and he was way ahead of the game in what he had into silver.....I simply suggested cashing out half his stack to erase all the debt....and that woulda left him with about half of his pile of metals.....for free. image

    It was the best advice I have ever given in this forum...and hindsight has nothing to do with it. The man bought metals on credit and had a chance to be free and clear with 1,700 ounces of metal that cost ZERO dollars. >>


    But then I would have only 1700 ounces instead of 4153 ounces. I am about accumulating as many ounces as I possibly can and I've done so very quickly with cheap credit. I have yet to pay any interest on my silver. I don't intend to pay interest on my silver. I can do this because I have been fiscally responsible and as such have no mortgage, no car payments, no cable bill and none of the other frivolous BS debt that 80% of the population struggles with. I am a stacker...not a day trader.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭


    << <i>Harvey Organ ended his report tonight with this.
    "the raid is now over and gold and silver metals will have a good day tomorrow as the bankers try and cover the massive amounts of paper they supplied".

    We'll know tomorrow. I want to believe it but don't. >>



    -I never read much of HO's work before. Now I know I don't have to.

    -How does one carry $60,000 on credit cards, not pay off the principle, yet still not pay interest? Are they still giving out 0%/12 month cards?

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • CerealSpillerCerealSpiller Posts: 38


    << <i>

    << <i>-I never read much of HO's work before. Now I know I don't have to. >>


    The guy makes one wrong call and you write him off? I read as many analysts as I can and lean toward the mean.


    << <i>

    << <i>-How does one carry $60,000 on credit cards, not pay off the principle, yet still not pay interest? >>


    $55,000 as of this month.


    << <i>

    << <i>Are they still giving out 0%/12 month cards? >>


    Yes. If you have excellent credit.

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