<< <i>These newletter blog guys are running out of material and getting desperate >>
This kinda thing is true all over. The PM field is ripe for picking, is highly biased by those wishing and hoping for gain, and movement in buying and selling and keeping the ball rolling rather then sitting still. The business does not make money if things are sitting still. But mostly hype sells and promotes a product. If you want your articles printed or you want to keep that writing job, you do your job. Its easier to instigate, spread a little hype, than keep to the boring and pertinant material.
I'm embarrassed by most of it in the PM field. Which indeed makes it hard to weed out what's valuable. Making weak predictions with immediate 'what if' disclaimers immediately thereafter is not something to rely on.
Oh, useful information is what is useful to you. There are no hard facts, just perception and interpretation of events.
Somewhere amonst these 250 posts, I'm pretty sure I said $32 is the new ceiling. If I didn't, I'll retroactively say so now What a 4 month dog not being able to rise up after ALL that has happened that should've made it go up *(according to some people).
To forgive is to free a prisoner, and to discover that prisoner was you.
Somewhere amonst these 250 posts, I'm pretty sure I said $32 is the new ceiling.
I'll give you that one.
But you also menitoned it would drop to "28-ish" on one post and "low 20's" in another. Same thread. So you're batting .333. That was good enough for Miguel Cabrera to capture part of the Triple Crown.
I stopped having a price target for silver. It's worth something when I need it to be worth something, and it's been going in the right direction for as long as I've owned it. These $10 and $20 moves over the course of a year or two - they are nothing.
Q: Are You Printing Money? Bernanke: Not Literally
These $10 and $20 moves over the course of a year or two - they are nothing.
(rolling my eyes like Michelle Obama) Now you mean to tell me that if silver dropped $20 from here, let's get crazy and say over the next YEAR, that would not bother you? Even if most of your pile is avgd. in at $10, yeah...you'd still be ahead, but that wouldn't bother you after it being $32? What would be the point of owning it being still slightly ahead after holding it when it was $32? Someone needs to be a little more honest with themself
To forgive is to free a prisoner, and to discover that prisoner was you.
Someone needs to be a little more honest with themself
When I bought a significant amount of silver at $21.00 in 2008 and then it dropped to about $8.00 - I didn't sell because something didn't seem to make sense at the time. Instead, I kept buying at $8.00 and $12.00 and $15.00.
And I've been buying PMs since with virtually all of my free cash flow since 2006, after removing all of my retirement funds from IRAs and Roth IRAs and putting the money into PMs.
I had the conviction of my understanding of the precious metals markets and of the government's financials. More conviction than someone who chews his nails about every $2.00 bump in silver.
My lucky guesses have worked out just fine, didn't they? And that's just me, being honest.
Q: Are You Printing Money? Bernanke: Not Literally
The hardest part about buying silver when it dropped to $8 was finding it. The second hardest part was stomaching the premiums . In some cases I paid up to a 50% premium. $8 silver was really $12 silver. On paper you were down a fortune the day you bought it.
Stacking silver isn't for everybody and that is cool
MJ
Walker Proof Digital Album 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......
There certainly seems to be A LOT of resistance around $33. I'm not a big player and hold physical only. I wouldn't mind seeing $28 again this winter as a buyer. As a seller? Still waiting on the big FOR-OH!
The hardest part about buying silver when it dropped to $8 was finding it. The second hardest part was stomaching the premiums . In some cases I paid up to a 50% premium. $8 silver was really $12 silver. On paper you were down a fortune the day you bought it.
Stacking silver isn't for everybody and that is cool
For awhile MJ, I was buying OBW rolls on ebay (that was when there were still some around). I was paying some premium for originality but not too much more than for regular silver, and really all I paid was the going rate for what was available. You can try to second guess the premiums just like you can try to second guess the price, but you also have to keep in mind that you will get some, or all, or even more premium than you paid back when you sell.
If my holdings dropped by 2/3, yes that would bother me. However the only things that will change my investing strategy will be: 1) an overall change in the market and 2) retirement and lack of current income.
Until either or both of those things change, I continue to re-evaluate - and nothing has changed. In fact, the fundamental market variables have only take on a more pronounced tone. Take that for what it's worth.
Q: Are You Printing Money? Bernanke: Not Literally
<< <i>These $10 and $20 moves over the course of a year or two - they are nothing.
(rolling my eyes like Michelle Obama) Now you mean to tell me that if silver dropped $20 from here, let's get crazy and say over the next YEAR, that would not bother you? Even if most of your pile is avgd. in at $10, yeah...you'd still be ahead, but that wouldn't bother you after it being $32? What would be the point of owning it being still slightly ahead after holding it when it was $32? Someone needs to be a little more honest with themself >>
I'll chime in on this one.
To answer your question...YES, it would NOT bother me.
Back in 2008 when silver lost 1/2 its value ($21 to $10) with all honesty, I slept like a baby that night.
The reasons are:
1. I'm not invested in the short term,
2. I'm very confident (by all the evidence our gov'ts and bankers are doing) that the long term trend is up,
3. I realize and prepare myself that owning PM's is extremely volatile.
and 4. it is my firm belief that in today's economic conditions, owning PM's as (call it what you like) a hedge against inflation; insurance; sound investment; preserving one's wealth; is the BEST strategy one can have.
"Gold is money, and nothing else" (JP Morgan, 1912)
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
I wish I had the "stick-to-it-evness" that some of you at least say you have. Not knowing those who say this on a message board personally, I have to take thet on their word, which I do. It is admirable to have the patience and determination it would take to carry out what some say they are doing, I respect that.
Me, it's just never been in my nature to take an approach (with regards to investing) that lasts more than 6 months absolute tops. In this day & age, too much can change too quickly to not do so. jmho.
To forgive is to free a prisoner, and to discover that prisoner was you.
<< <i>I wish I had the "stick-to-it-evness" that some of you at least say you have. Not knowing those who say this on a message board personally, I have to take thet on their word, which I do. It is admirable to have the patience and determination it would take to carry out what some say they are doing, I respect that.
Me, it's just never been in my nature to take an approach (with regards to investing) that lasts more than 6 months absolute tops. In this day & age, too much can change too quickly to not do so. jmho. >>
For everything else in my life, I totally agree and feel the same way you do.
I don't know what it is with PM's.
I have never felt so confident in a financial strategy in all my life.
For me, every bit of financial, economic and governmental news leads to this inescapable conclusion, as long as you do look in the long term.
I remember back in 2001 when I purchased my first kilo of gold, (I think gold was somewhere around $250 an ounce) I said to my uncle (who all his life worked in the mining industry) "you wait and see Uncle, gold will hit $1000 someday'....he just laughed and in all seriousness he said..."you will never and I repeat never see it go beyond $450".
I think owning PM's is the smartest and safest investment there is today, especially when PRESERVING one's wealth is so crucially important in today's potentially implosive environment.
"Gold is money, and nothing else" (JP Morgan, 1912)
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
think owning PM's is the smartest and safest investment there is today, especially when PRESERVING one's wealth is so crucially important in today's potentially implosive environment.
I don't have too much angst over the price drop. It's not as if I've had to forego anything that I wouldn't have done otherwise, and I'm still buying as the opportunity arises.
I will be selling some odds & ends and if I take some losses, they will balance out my tax gains and I'll have extra capital to throw at "the next big thing".
Q: Are You Printing Money? Bernanke: Not Literally
<< <i> think owning PM's is the smartest and safest investment there is today, especially when PRESERVING one's wealth is so crucially important in today's potentially implosive environment.
<< <i> think owning PM's is the smartest and safest investment there is today, especially when PRESERVING one's wealth is so crucially important in today's potentially implosive environment.
Someone has entirely too much time on their hands this weekend searching for and sorting thru what people said what might as well be a whole different time and way of thinking. jmho
To forgive is to free a prisoner, and to discover that prisoner was you.
<< <i>Someone has entirely too much time on their hands this weekend searching for and sorting thru what people said what might as well be a whole different time and way of thinking. jmho >>
same could be said to someone reading it and making disparaging remarks.
“Smart people learn from their mistakes. But the real sharp ones learn from the mistakes of others.”
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
<< <i> think owning PM's is the smartest and safest investment there is today, especially when PRESERVING one's wealth is so crucially important in today's potentially implosive environment.
Yes, for those who bought right at the the moment all-time highs were set.
The long term is still the same. >>
Gold is actually down 33% from its high. And silver down 60%. The above stats I believe realistically show the average losses investors have overt he last 2 years. Lots of gold and silver were purchased on the "buy the dips" over the last 2 years.
<< <i> think owning PM's is the smartest and safest investment there is today, especially when PRESERVING one's wealth is so crucially important in today's potentially implosive environment.
<< <i> think owning PM's is the smartest and safest investment there is today, especially when PRESERVING one's wealth is so crucially important in today's potentially implosive environment.
This is a volume by price chart. It clearly shows that most activity occured between 1500-1750. This is where most people own gold, with the next biggest concentration around 900. My guess would be on average-- taking those who bought at 900 and those bought at 1700-- averaging the winners with the losers, no one has made money on gold over the last 5 years.
<< <i> think owning PM's is the smartest and safest investment there is today, especially when PRESERVING one's wealth is so crucially important in today's potentially implosive environment.
Who was telling people to buy at the peak? Care to dig up that thread for us?
Even though you have only been on the board for a year I think you should have good recollection of the threads discussing "fundamentals, conspiracies, demise of COMEX, manipulations, fiat sucks, gold is great, gold is porn, ect". And lets not forget the incessant links to blogs, cartoons and the like.
In fact, of the thousands of threads on this board, only a very, very small fraction said not to buy gold.
There are no obvious winners, only obvious losers. Bet against the losers.
Keep in mind the forum membership is basically made up of three groups: those that invest for the long term, those that speculate for the short term and those that do both. What applies to the speculator may not necessarily apply to the investor. Before contemplating any buy/sell decision one must first know which type player he is. This is what causes a lot of heartache.
Edited to add: I'm in the third group and I use different tools for each purpose. Paper for speculation, physical for investment. Speculation in metals requires a quick exit, paper provides that. And yes, I am aware of the increased risk with paper - however it serves my purpose.
"How many times can a man turn his head and pretend he just doesn’t see?” - Bob Dylan
<< <i>There are no obvious winners, only obvious losers. Bet against the losers.
Keep in mind the forum membership is basically made up of three groups: those that invest for the long term, those that speculate for the short term and those that do both. What applies to the speculator may not necessarily apply to the investor. Before contemplating any buy/sell decision one must first know which type player he is. This is what causes a lot of heartache. >>
True,
I have never recommended silver and gold for the short term.
I had a friend just yesterday ask me if he should buy silver and I said 'yes' and then he told me he needs to sell it in the Spring of 2014 for house renovations, and then I told him 'No way don't buy!!"
On the other hand if you've got some cabbage laying around for the next five years or so, then I'd say it could be a very wise investment.
"Gold is money, and nothing else" (JP Morgan, 1912)
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
Comments
<< <i>These newletter blog guys are running out of material and getting desperate >>
This kinda thing is true all over. The PM field is ripe for picking, is highly biased by those wishing and hoping for gain,
and movement in buying and selling and keeping the ball rolling rather then sitting still. The business does not make
money if things are sitting still.
But mostly hype sells and promotes a product. If you want your articles printed or you want to keep that writing job,
you do your job. Its easier to instigate, spread a little hype, than keep to the boring and pertinant material.
I'm embarrassed by most of it in the PM field. Which indeed makes it hard to weed out what's valuable.
Making weak predictions with immediate 'what if' disclaimers immediately thereafter is not something to rely on.
Oh, useful information is what is useful to you. There are no hard facts, just perception and interpretation of events.
What a 4 month dog not being able to rise up after ALL that has happened that should've made it go up *(according to some people).
<< <i>
<< <i>
<< <i>It will never hit $30 again in my lifetime
MJ >>
Is that a quote from an earlier misbegotten "silver price pieces doomsday" thread or a dire prediction for poor LA Money, MJ?
Miles >>
I couldn't resist. Seriously, silver is like up 20% in a realitively short amount of time. It needs a rest. Hardly anything goes straight up.
MJ
Edited for spelling on my I Phone >>
I'll give you that one.
But you also menitoned it would drop to "28-ish" on one post and "low 20's" in another. Same thread. So you're batting .333. That was good enough for Miguel Cabrera to capture part of the Triple Crown.
<< <i>These newletter blog guys are running out of material and getting desperate
So are the panic button pressers here. After awhile, with no follow thru, it gets as stale as a B&M dealers breath at the end of the day. >>
Liberty: Parent of Science & Industry
"How many times can a man turn his head and pretend he just doesn’t see?” - Bob Dylan
Kuch
I knew it would happen.
(rolling my eyes like Michelle Obama)
Now you mean to tell me that if silver dropped $20 from here, let's get crazy and say over the next YEAR, that would not bother you?
Even if most of your pile is avgd. in at $10, yeah...you'd still be ahead, but that wouldn't bother you after it being $32?
What would be the point of owning it being still slightly ahead after holding it when it was $32?
Someone needs to be a little more honest with themself
When I bought a significant amount of silver at $21.00 in 2008 and then it dropped to about $8.00 - I didn't sell because something didn't seem to make sense at the time. Instead, I kept buying at $8.00 and $12.00 and $15.00.
And I've been buying PMs since with virtually all of my free cash flow since 2006, after removing all of my retirement funds from IRAs and Roth IRAs and putting the money into PMs.
I had the conviction of my understanding of the precious metals markets and of the government's financials. More conviction than someone who chews his nails about every $2.00 bump in silver.
My lucky guesses have worked out just fine, didn't they? And that's just me, being honest.
I knew it would happen.
Stacking silver isn't for everybody and that is cool
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......
Stacking silver isn't for everybody and that is cool
For awhile MJ, I was buying OBW rolls on ebay (that was when there were still some around). I was paying some premium for originality but not too much more than for regular silver, and really all I paid was the going rate for what was available. You can try to second guess the premiums just like you can try to second guess the price, but you also have to keep in mind that you will get some, or all, or even more premium than you paid back when you sell.
If my holdings dropped by 2/3, yes that would bother me. However the only things that will change my investing strategy will be: 1) an overall change in the market and 2) retirement and lack of current income.
Until either or both of those things change, I continue to re-evaluate - and nothing has changed. In fact, the fundamental market variables have only take on a more pronounced tone. Take that for what it's worth.
I knew it would happen.
<< <i>These $10 and $20 moves over the course of a year or two - they are nothing.
(rolling my eyes like Michelle Obama)
Now you mean to tell me that if silver dropped $20 from here, let's get crazy and say over the next YEAR, that would not bother you?
Even if most of your pile is avgd. in at $10, yeah...you'd still be ahead, but that wouldn't bother you after it being $32?
What would be the point of owning it being still slightly ahead after holding it when it was $32?
Someone needs to be a little more honest with themself
I'll chime in on this one.
To answer your question...YES, it would NOT bother me.
Back in 2008 when silver lost 1/2 its value ($21 to $10) with all honesty, I slept like a baby that night.
The reasons are:
1. I'm not invested in the short term,
2. I'm very confident (by all the evidence our gov'ts and bankers are doing) that the long term trend is up,
3. I realize and prepare myself that owning PM's is extremely volatile.
and 4. it is my firm belief that in today's economic conditions, owning PM's as (call it what you like) a hedge against inflation; insurance; sound investment; preserving one's wealth; is the BEST strategy one can have.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
It is admirable to have the patience and determination it would take to carry out what some say they are doing, I respect that.
Me, it's just never been in my nature to take an approach (with regards to investing) that lasts more than 6 months absolute tops. In this day & age, too much can change too quickly to not do so. jmho.
<< <i>I wish I had the "stick-to-it-evness" that some of you at least say you have. Not knowing those who say this on a message board personally, I have to take thet on their word, which I do.
It is admirable to have the patience and determination it would take to carry out what some say they are doing, I respect that.
Me, it's just never been in my nature to take an approach (with regards to investing) that lasts more than 6 months absolute tops. In this day & age, too much can change too quickly to not do so. jmho. >>
For everything else in my life, I totally agree and feel the same way you do.
I don't know what it is with PM's.
I have never felt so confident in a financial strategy in all my life.
For me, every bit of financial, economic and governmental news leads to this inescapable conclusion, as long as you do look in the long term.
I remember back in 2001 when I purchased my first kilo of gold, (I think gold was somewhere around $250 an ounce) I said to my uncle (who all his life worked in the mining industry) "you wait and see Uncle, gold will hit $1000 someday'....he just laughed and in all seriousness he said..."you will never and I repeat never see it go beyond $450".
I think owning PM's is the smartest and safest investment there is today, especially when PRESERVING one's wealth is so crucially important in today's potentially implosive environment.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
or, alternatively "unpreserving" -23% of my wealth that is stored as gold
(it's -36% for silver in the same time frame)
Liberty: Parent of Science & Industry
I will be selling some odds & ends and if I take some losses, they will balance out my tax gains and I'll have extra capital to throw at "the next big thing".
I knew it would happen.
<< <i> think owning PM's is the smartest and safest investment there is today, especially when PRESERVING one's wealth is so crucially important in today's potentially implosive environment.
or, alternatively "unpreserving" -23% of my wealth that is stored as gold
(it's -36% for silver in the same time frame) >>
You should not have bought it at the peak.
"How many times can a man turn his head and pretend he just doesn’t see?” - Bob Dylan
<< <i> think owning PM's is the smartest and safest investment there is today, especially when PRESERVING one's wealth is so crucially important in today's potentially implosive environment.
or, alternatively "unpreserving" -23% of my wealth that is stored as gold
(it's -36% for silver in the same time frame) >>
Yes, for those who bought right at the the moment all-time highs were set.
The long term is still the same.
<< <i>Someone has entirely too much time on their hands this weekend searching for and sorting thru what people said what might as well be a whole different time and way of thinking. jmho >>
same could be said to someone reading it and making disparaging remarks.
“Smart people learn from their mistakes. But the real sharp ones learn from the mistakes of others.”
<< <i>
<< <i> think owning PM's is the smartest and safest investment there is today, especially when PRESERVING one's wealth is so crucially important in today's potentially implosive environment.
or, alternatively "unpreserving" -23% of my wealth that is stored as gold
(it's -36% for silver in the same time frame) >>
Yes, for those who bought right at the the moment all-time highs were set.
The long term is still the same. >>
Gold is actually down 33% from its high. And silver down 60%. The above stats I believe realistically show the average losses investors have overt he last 2 years. Lots of gold and silver were purchased on the "buy the dips" over the last 2 years.
Knowledge is the enemy of fear
<< <i>
<< <i> think owning PM's is the smartest and safest investment there is today, especially when PRESERVING one's wealth is so crucially important in today's potentially implosive environment.
or, alternatively "unpreserving" -23% of my wealth that is stored as gold
(it's -36% for silver in the same time frame) >>
You should not have bought it at the peak. >>
Should not have been telling people to buy at the peak.
Knowledge is the enemy of fear
<< <i>
<< <i> think owning PM's is the smartest and safest investment there is today, especially when PRESERVING one's wealth is so crucially important in today's potentially implosive environment.
or, alternatively "unpreserving" -23% of my wealth that is stored as gold
(it's -36% for silver in the same time frame) >>
You should not have bought it at the peak. >>
This is a volume by price chart. It clearly shows that most activity occured between 1500-1750. This is where most people own gold, with the next biggest concentration around 900. My guess would be on average-- taking those who bought at 900 and those bought at 1700-- averaging the winners with the losers, no one has made money on gold over the last 5 years.
Knowledge is the enemy of fear
<< <i>
<< <i>
<< <i> think owning PM's is the smartest and safest investment there is today, especially when PRESERVING one's wealth is so crucially important in today's potentially implosive environment.
or, alternatively "unpreserving" -23% of my wealth that is stored as gold
(it's -36% for silver in the same time frame) >>
You should not have bought it at the peak. >>
Should not have been telling people to buy at the peak.
Who was telling people to buy at the peak? Care to dig up that thread for us?
We are well on our way.
Even though you have only been on the board for a year I think you should have good recollection of the threads discussing "fundamentals, conspiracies, demise of COMEX, manipulations, fiat sucks, gold is great, gold is porn, ect". And lets not forget the incessant links to blogs, cartoons and the like.
In fact, of the thousands of threads on this board, only a very, very small fraction said not to buy gold.
Knowledge is the enemy of fear
Anyway, the new ceiling might be $26, for silver, as it might see some risistance there. it found nice support at $18.
Gold may have trouble getting past $1500 short to intermediate term, and saw decent support at $1200?
Liberty: Parent of Science & Industry
Keep in mind the forum membership is basically made up of three groups: those that invest for the long term, those that speculate for the short term and those that do both. What applies to the speculator may not necessarily apply to the investor. Before contemplating any buy/sell decision one must first know which type player he is. This is what causes a lot of heartache.
Edited to add: I'm in the third group and I use different tools for each purpose. Paper for speculation, physical for investment. Speculation in metals requires a quick exit, paper provides that. And yes, I am aware of the increased risk with paper - however it serves my purpose.
"How many times can a man turn his head and pretend he just doesn’t see?” - Bob Dylan
<< <i>There are no obvious winners, only obvious losers. Bet against the losers.
Keep in mind the forum membership is basically made up of three groups: those that invest for the long term, those that speculate for the short term and those that do both. What applies to the speculator may not necessarily apply to the investor. Before contemplating any buy/sell decision one must first know which type player he is. This is what causes a lot of heartache. >>
True,
I have never recommended silver and gold for the short term.
I had a friend just yesterday ask me if he should buy silver and I said 'yes' and then he told me he needs to sell it in the Spring of 2014 for house renovations, and then I told him 'No way don't buy!!"
On the other hand if you've got some cabbage laying around for the next five years or so, then I'd say it could be a very wise investment.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)