Will $28 hold?
cladking
Posts: 28,636 ✭✭✭✭✭
I expect a little buying at this level today.
$24 I expect to hold even though it's weak support as well.
I'm getting tired of checking silver prices just to see how much they're down.
$24 I expect to hold even though it's weak support as well.
I'm getting tired of checking silver prices just to see how much they're down.
Tempus fugit.
0
Comments
May 2012
May 2011
This is going to get way uglier before we see any real upward trend.
Don't shoot the messenger.
<< <i>$28 is/will not holding. $22 is next support. It's almost Summer, there's absolutely no interest in pm's other than people like us, and right now, that aint enough to even sustain any price level. People are selling off pm's because alot are still up having bought in lower $20 or even lower. Time to sell to enjoy their Summer.
This is going to get way uglier before we see any real upward trend.
Don't shoot the messenger.
22 would be nice. I have plenty of time
I bought common date morgan dollars at $20 yesterday and better date ASE's at $30 . I'm happy with the drop , I want to go back and clean the guy out but I'm out of dry powder . This is from a brand new we buy gold place 1 town over from me. I hope he has a strong stomach , the town is making him hold everything he buys for 30 days.
My opinion is $28 won't hold
<< <i>I bought common date morgan dollars at $20 yesterday and better date ASE's at $30 . I'm happy with the drop , I want to go back and clean the guy out but I'm out of dry powder . This is from a brand new we buy gold place 1 town over from me. I hope he has a strong stomach , the town is making him hold everything he buys for 30 days.
My opinion is $28 won't hold
Big Brother is really getting out of hand. That 30 day hold scam is making government officials and their business cohorts some serious "side cash"
<< <i>
<< <i>I bought common date morgan dollars at $20 yesterday and better date ASE's at $30 . I'm happy with the drop , I want to go back and clean the guy out but I'm out of dry powder . This is from a brand new we buy gold place 1 town over from me. I hope he has a strong stomach , the town is making him hold everything he buys for 30 days.
My opinion is $28 won't hold
Big Brother is really getting out of hand. That 30 day hold scam is making government officials and their business cohorts some serious "side cash"
Probably also protecting sellers who get paid with bad checks.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
He seemed ok , anyone that sells me a 1996 ASE for 2$ over spot is ok in my book. He had a lot of strange stuff in there. There was a set of 3 wisconsin state quarters with a high leaf, low leaf , no leaf He asked me if I thought they were MS 67's .
There was some fractional currency a 1928 peace dollar graded VF30 in an ANACS slab he wanted $250 for. A few CC morgans in GSA holders a few Proof ASE's I could have bought for 40$.
I'm trying to tread lightly I don't want to see his prices go up.
I knew it would happen.
If this doesn't hold, then the reverse head and shoulders may be in jeopardy of failing.
<< <i>just got notice from APMEX that the 2012 Mexico Libertads are in. Normally, I'd hit "buy" right away. I think I might watch for a day or two. >>
The premium is not that high, when i was collecting them I recall they were selling well over spot.
I just bought few JM bars. Waited one week to see if I could buy them under $30.
I am looking now at some SilverTowne bars but I'd rather wait until tomorrow night.
it's not a pretty chart, and is starting to look more and more like the classic boom/bust cycle to even novice chart readers
Liberty: Parent of Science & Industry
how much of the movement in metals is from the dollar going from 79.5 to 81.5 in the last 10 days?
Jim
Currency Wants: Any note with serial number 00000731
LOL...Sure, why not? It gives us all a chance to do a major avg. down, maybe even cutting our base position by 50% (dripping in sarcasm) This drop is supposed to be a good thing?, I missed the memo when I was on vacation.
Todays action tells me $22 is a no brainer, going to buy some contracts of SLV puts around 10 AM CT tomorrow (after amatuer hour) depending what's happening. Any half way decent rise, I will be buying Puts.
and I would still be cautious in
purchasing any !!!
<< <i>Personally I'm happy to be adding at these levels. Just bought a modern $5 gold Commem at spot and will be buying some silver friday.
LOL...Sure, why not? It gives us all a chance to do a major avg. down, maybe even cutting our base position by 50% (dripping in sarcasm) This drop is supposed to be a good thing?, I missed the memo when I was on vacation.
Todays action tells me $22 is a no brainer, going to buy some contracts of SLV puts around 10 AM CT tomorrow (after amatuer hour) depending what's happening. Any half way
decent rise, I will be buying Puts. >>
I didn't say a drop was good or bad. I was buying at $38 why wouldn't I be happy to buy at $28 or lower.
I may regret it but I'm buying a few days a week now.Got some britannias just over $30 today and some pamp dragons just over $40.It took all my self control to hold back when I saw JM bars for $28.54 this afternoon.If it doesnt work out I'm still ok.I havent spent anything that I will need anytime soon.
Full disclosure:
Not buying SLV Put, seems to be strong but I'll be monitoring closely because I still believe the trend is downward. If Spot can somehow pull out $30 by tomorows close, I would be impressed and reevaluate buying Puts. Just can't pull the trigger when it's having a day like today, so far.
<< <i>as a guy new to the PM game, I started watching in December 2011, then silver started to rise. I told myself that if it ever got back to those levels, I would start buying. Now that the time has arrived, I decided to wait a few more weeks/months. I feel it will keep getting lower. My new price 'buy' price is around $20, although who knows if it will ever go that low. It is different when you are trying to get in as opposed to already being in.
>>
It's always easy to wait too long to buy something. I waited for Chrysler stock to get
down to 5/ 8 ths in 1980 to buy and never did. There's some support for silver at $28
and much stronger (albeit still weak) support at $24.
This isn't 1980 any longer and $28 just isn't very much money. Notonly is it little money
but if you put it in the bank they treat it lkike it's a burden to them instead of giving you
11% interest. There's no safe place for money any longer.
<< <i>Personally I'm happy to be adding at these levels. Just bought a modern $5 gold Commem at spot and will be buying some silver friday. >>
Good move IMO. You can collect the whole proof $5 series and have quite a bit of gold and an actual collection. Average and take your time you don't need to buy these all this year. There's some good deals on the lower mintage coins but you might have to add 100 bucks. The 2011 proofs look great coming in just over 8k for both of those and the keys.
Also there's some good deal on the 1/4 ounce $25 plats. I purchased a 2005W PF69 NGC for just over $400 a total of 7k minted. In fact the 2008 w is the key at just over 4100. Here you can buy the metal and don't have much downside IMO because of the mintage's. Both these people can afford to buy the set without breaking the bank and have a nice collection. In fact the whole $25 series since 2001 in under 10k total mintage. Other than some old pattern coins plats have never been produced in the US so their somewhat historic IMO.
Now I'm going to get the PM guys complaining I'm talking collecting on the PM board, crap
) If it drops much lower we can make silver bullets.
---I like the bullet mold idea. I'll try and melt and make some w my bullet mold and post a pic. Maybe it will be a nitch. 180 grains of pure PM protection.
) My new price 'buy' price is around $20
---Me too, but I'm buying along the way. Especially because I see it going up today! Who will wait and who will miss the window..