It's nasty out there for the metals
Julio
Posts: 2,501 ✭
Hope all here were prepared and sold, or can ride this out. It may take years for the metals to recover. Right now I see nothing but downside for the metals. Sorry guys/gals but that's my call. I'm never wrong. 
. Take care, jws
. Take care, jws
0
Comments
Now I can start buying with my money...
ps
I seriously do wish the best for those that are negatively affected by these PM drops in business or selling, or need to exchange during these times, etc.
'Who is' negatively affected by this in the short term?
Keep stacking.
Metals are presently available at sale prices. I am adding as quickly as cash flow will allow.
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
I actually think those who are willing to wait 20 years may succeed. Right now I am in a few stocks and the rest cash for a SHTF scenario. I wish you well my friend. Take care. jws
I didn't sell the farm and I am not worried about the price. My time horizon is quite long.
<< <i>Hope all here were prepared and sold, or can ride this out. It may take years for the metals to recover. Right now I see nothing but downside for the metals. Sorry guys/gals but that's my call. I'm never wrong.
so should i be trading my bullion for rare coins now?
just another opportunity to Dollar Cost Average down.
Stack much my friends.
Too many positive BST transactions with too many members to list.
"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>DrBuster, I don't think you have to worry about it staying low, it will go lower. I would stop buying. I understand your plan though. Nothing wrong with it if you have time. Take care.jws >>
No kids, debt, or job worries and the wife seems to like me playing pirate. Got plenty of time.
about PM's !!!
<< <i>I would not be surprised to see $28.00 silver tonight. Take care. jws >>
Hey Julio, your gut feeling are becoming more frequent lately!
I would be curious to know if you have something to support them.
You have been right most of the times in the past few weeks!
I listen to Bloomberg, and I gather information like a sponge, you can never have too much.
I have been playing this game long before there was a precious metals forum. It has been very good to me and yes some of that is due to luck. I've never played the paper silver Market and now I wish I had. My bad.
I started making my feelings known When I was convinced that PM's were going to fall and fall hard. I'm glad I escaped most of the carnage. {previous post where I went stocks and cash}. I did this to try to save other members some money and pain. I went negative on the metals months ago, also in a previous post and caught a little flack about that.
So I reckon to answer your question there is a method to my madness. Take care. jws
<< <i>nibanny; My gut feelings was said in jest my friend, I thought everyone knew that. To a certain degree though I act when my gut starts hurting or I start loosing sleep. I have been retired, so following world events passes the time. Believe it or not they play a large roll in where precious metals go.
I listen to Bloomberg, and I gather information like a sponge, you can never have too much.
I have been playing this game long before there was a precious metals forum. It has been very good to me and yes some of that is due to luck. I've never played the paper silver Market and now I wish I had. My bad.
I started making my feelings known When I was convinced that PM's were going to fall and fall hard. I'm glad I escaped most of the carnage. {previous post where I went stocks and cash}. I did this to try to save other members some money and pain. I went negative on the metals months ago, also in a previous post and caught a little flack about that.
So I reckon to answer your question there is a method to my madness. Take care. jws >>
What, no conspiracy, price manipulation or paranoid SHTF scenarios in your analysis? What is this forum coming to.
<< <i>My weighted cost average is decent - can hang for a long time and am still buying, besides I only use disposiable income for metals (often I forgo a new suit or new shoes for a tube or two of ASE's or a nice AGE. I just completed a transaction before the down turn, but a deal is a deal and it was fair! Even if they go to historic lows, I still have lost more in stocks - I've got many "great picks" on stocks that combined are worth $0.00 today
Yeah, me too. Esp on the stock swings.
(Well, on most of what you said. I don't have any shoes or suits (combined) worth the price of one roll of ASEs!)
So, what happened to make everyone think this is going to be a massive plunge and not a few dollar dip?
Hold on.
Best.
<< <i>nibanny; My gut feelings was said in jest my friend, I thought everyone knew that. >>
I did know that they were not just gut feelings, though I wanted to have some more insight from you. Thanks for taking the time to explain.
I feel that, even with great knowledge of the market, anybody needs at a certain point to follow some sort of instinct, or madness as you said!
Thanks again and thanks to everyone else in this forum. I feel that my feelings are well supported by what I read/learn here.
thanks
Cash is King right now. PM's its; run Forest run. It's going lower. Right now there is no good price; you are simply buying high. Forget the past it's gone. We live in a new world, China will go the way of Japan; just a matter of time. Take care. jws
<< <i>tonedase, I would not buy PM's period. Watch world events, therein lies the key. Any upswing will be a head fake. Don't fall for it. In a SHTF scenario, I would buy the cheapest America Gold coins I could find.
Cash is King right now. PM's its; run Forest run. It's going lower. Right now there is no good price; you are simply buying high. Forget the past it's gone. We live in a new world, China will go the way of Japan; just a matter of time. Take care. jws >>
There is already so much cash sitting on the sidelines it makes my head spin. People pulled out of the stock market at exactly the wrong time (2008) and capitulated. Most missed the stock market doubling from 2008 until now as pundits said cash was king. Retail sat on the sidelines and they haven't been back since. A lot of folks missed the epic run in precious metals during the same period when they got scared or from when they weren't paying attention and metals were sleepy. Point, there is no real point other then skate with your head up. It is what it is.
This current pullback might just be a combination of Friday's lousy jobs report, Greece, and folks trying to get ahead of the sell in May and go away prophesy. Plus charts on most stocks and commodities are just plain lousy. Excellent excuses for a sell off. We shall see. MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Que sera.
I knew it would happen.
Fred, Las Vegas, NV
<< <i>Hope all here were prepared and sold, or can ride this out. It may take years for the metals to recover. Right now I see nothing but downside for the metals. Sorry guys/gals but that's my call. I'm never wrong.
Did the sky fall and I was asleep???
<< <i>OnlyGoldIsMoney; I truly wish all here luck and good fortune. I'm not used to preaching gloom and doom for the metals. I just try to call it like I see it, and my advice could end up hurting everyone if I'm wrong. At least the ones who follow it.
I actually think those who are willing to wait 20 years may succeed. Right now I am in a few stocks and the rest cash for a SHTF scenario. I wish you well my friend. Take care. jws >>
If people take action strictly on your advice and don't do their own DD and make their own decisions they will get hurt many more times than this.
<< <i>I agree, when it drops back to $900/$14 than i will start to worry. >>
Start to worry after a 50-70% drop??!!
Seems to me the time to start to worry was when at 1900/45. But then no one worries at the top.
Knowledge is the enemy of fear
<< <i>
<< <i>I agree, when it drops back to $900/$14 than i will start to worry. >>
Start to worry after a 50-70% drop??!!
Seems to me the time to start to worry was when at 1900/45. But then no one worries at the top.
No one knows the top until after it's come and gone. About like lottery numbers.....
Too many positive BST transactions with too many members to list.
Patience is everything IMHO. But I always take a long view. However, another $100 dip in gold and I will probably get back in for a small number. I liquidated my metals position in the rush towards the top a while back and have not been comfortable with the manipulations enough to get back in. As my investing partner and I like to say, "No one ever got hurt taking a profit".
There are lots of investing playgrounds to have fun with, but I do enjoy the passion of the metals group. It is always interesting here.
MY GOLD TYPE SET https://pcgs.com/setregistry/type-sets/complete-type-sets/gold-type-set-12-piece-circulation-strikes-1839-1933/publishedset/321940
<< <i>sounds like the same song that played in 08-09 when silver dropped from $20 to $10 and then proceeded to $49. I was a buyer at $15 and I'm a buyer at $29.
Good point. Right now you see the weak running away because their get rich quick plan is not working. Hold tight and average out for myself.
<< <i>
<< <i>
<< <i>I agree, when it drops back to $900/$14 than i will start to worry. >>
Start to worry after a 50-70% drop??!!
Seems to me the time to start to worry was when at 1900/45. But then no one worries at the top.
No one knows the top until after it's come and gone. About like lottery numbers..... >>
So why worry at 900, which may be the bottom? Im just trying to get people to think about the psychology of markets, which is oftentimes more important than fundamentals. And you just illustrated my point. Everyone worries when prices are at lows, but never at highs. And this is what creates the highs and lows.
Knowledge is the enemy of fear
I also like to make a wish list of numismatics, try to fill some gaps, during May-July.
I am somewhat jealous of those who are able to trade on a daily basis... I just don't have the stomach for it. I've done ok... it could have been much better.
<< <i>I agree it's time to be very cautious
about PM's !!! >>
It will be interesting to see what kinds and how much silver is available. With luck I may find some ASE's for around $31. If so I will add a bunch.
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
SEBrown
Very true, RickO. Owning pms requires that you look beyond the disparaging comments and develop an understanding of money. There's fiat, and there's real money.
To fixate on the changing exchange rate of dollars vs. gold is to obfuscate the real issues. The prime issue is debt, bad paper and the devaluation of the currency relative to precious metals. There is no other prime issue.
There are peripheral issues like "government waste", "corruption", "overspending", and "job-killing taxes", but those are peripheral.
This isn't even a significant correction in metals, unless you are trying to nickel & dime every $0.50 move. A $49 peak in silver isn't representative of anything. If you lop off the year 2011 from the 10 year chart in silver, things are proceeding very smoothly.
When there is no real discussion of the factors involved, I pretty much discount threads where someone expresses a certainty, with the exception of Big Rick, who actually does run the numbers before making any such statements.
I would never make such a bold statement like "I'm never wrong" and then complain that people are giving me flak for telling them that they are wrong. I'm just sayin'.
I knew it would happen.