Wow, what happened to PM's today !!!
Timbuk3
Posts: 11,658 ✭✭✭✭✭
Any comments ?
Timbuk3
0
Timbuk3
Posts: 11,658 ✭✭✭✭✭
Comments
"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
And if anyone thinks that COMEX is a real market I feel sorry for you.
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I knew it would happen.
Wow, what happened to PM's today !!!
I have no idea but the first thing that popped into my head after reading the thead title was the scene from the movie Forrest Gump where Bubba was wounded and looked up at Forrest and said......
"How Did This Happen"
Forrest replied.........you got shot.......
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Here's a warning parable for coin collectors...
Coin's for sale/trade.
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US Rare Coin Investments
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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......
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<< <i>I just bought some.. the bottoms gonna fall out. >>
Same here - at times I feel like a PM reverse barometer!
Unlike equities PM's are immune to earnings reports or crooks running the company, if you hold your PM's in physical rather than paper form just keep adding when the price dips and funds allow.
Thje only time to really pay attention to the paper prices of PM's is when you have a nice gain and wish to cash in.
Its anybody's game.
Dollar up, dollar down. Just like my psa level.
Got enough player pieces (pms).
I would love to convert more $$ to PMs if the price had another dip.
<< <i>Silver, a dollar up, a dollar down, its becoming a non-event.... >>
Not if you learn to play the ups and downs with paper ETFs in an online brokerage account.
With USLV and DSLV a dollar up and down can be turned into three dollars (AGQ and ZSL for two dollars) up or down. Play the ups and the downs. Over time, cashing in on the small gains every time they appear can become very profitable.
Good info on ETFs, they trade just like stocks
"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>Just ignore the paper trading on metals or it will drive you crazy. >>
That doesn't make any sense. That's like saying ignore the s&p when buying or selling stocks. The "paper trade" dictates the price of physical PM's and is adjusted accordingly.
These leveraged ETFs are generally considered to be day trading vehicles.
If you hold positions in these overnight I wish you good luck!
Best!
<< <i>
<< <i>Just ignore the paper trading on metals or it will drive you crazy. >>
That doesn't make any sense. That's like saying ignore the s&p when buying or selling stocks. The "paper trade" dictates the price of physical PM's and is adjusted accordingly. >>
My reasoning whether you agree or not is I have built a long term position at a lower price and plan to hold until I think the price is where it should be. PM's are not earnings driven so are not subject to failing to meet anylist's earnings expectations or the books being cooked like the Enron debacle. Some analyst's have speculated that at some point in the future there will be a price disconnect between paper and physical gold & silver prices and I agree with this hypothetical situation as more and more fiat money enters the system.
Another thing to consider is record keeping and tax consequences of repeated sales eating into your trading profits. Then there is the possible problem of a shortage of physical silver when you want to re-enter the market after selling your PM holdings.
It used to be that stocks were a long term investment but that idea seems to have faded into the past as many people turned to day trading. PM's are a different animal and for many years were a poor investment, considering what has been happening to our currency I would prefer to hold my stash of PM's until there is a parobolic blowoff top in the market. IMHO there has not been a parobolic blowoff top yet in PM's as there still is room for another wave or two to reach that price objective so I treat my stash of PM's as insurance against fiat currency.
<< <i>
<< <i>
<< <i>Just ignore the paper trading on metals or it will drive you crazy. >>
That doesn't make any sense. That's like saying ignore the s&p when buying or selling stocks. The "paper trade" dictates the price of physical PM's and is adjusted accordingly. >>
My reasoning whether you agree or not is I have built a long term position at a lower price and plan to hold until I think the price is where it should be. PM's are not earnings driven so are not subject to failing to meet anylist's earnings expectations or the books being cooked like the Enron debacle. Some analyst's have speculated that at some point in the future there will be a price disconnect between paper and physical gold & silver prices and I agree with this hypothetical situation as more and more fiat money enters the system.
Another thing to consider is record keeping and tax consequences of repeated sales eating into your trading profits. Then there is the possible problem of a shortage of physical silver when you want to re-enter the market after selling your PM holdings.
It used to be that stocks were a long term investment but that idea seems to have faded into the past as many people turned to day trading. PM's are a different animal and for many years were a poor investment, considering what has been happening to our currency I would prefer to hold my stash of PM's until there is a parobolic blowoff top in the market. IMHO there has not been a parobolic blowoff top yet in PM's as there still is room for another wave or two to reach that price objective so I treat my stash of PM's as insurance against fiat currency. >>
So called "Fiat Currency" has been around for 80 years & I suspect it will be around for another 80 years. What are the odds of a blow off occurring within the next 10 years? If you feel that it is greater than 60%, a price disconnect may happen, but with what consequences in other areas? Your precious metal may just become another metal. I suppose I'm from the old school and it has worked for me very well over the last 50 years. Market timing...buy low & sell high. Stacking for something that may never happen in my life time is not my cup of tea.
<< <i>"With USLV and DSLV a dollar up and down can be turned into three dollars (AGQ and ZSL for two dollars) up or down. Play the ups and the downs. Over time, cashing in on the small gains every time they appear can become very profitable. "
These leveraged ETFs are generally considered to be day trading vehicles.
If you hold positions in these overnight I wish you good luck!
Best! >>
Correct. Close monitoring is required.
"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
Nassim Taleb has a term for this type of thinking. I forget the term, but in essence - until that fatal day that the goose is to become dinner, he has it pretty good.
Talib also addresses the odds of a Black Swan, or a blow off event as you put it, as well - the more complex the system, the more fragile it is. Not only is the complexity worse now than it was 2 years ago, the debt is accumulating faster and there has been exactly zero change in the way things are being done in the capitol.
I'll take the metals. Zero counterparty risk. Market risk, sure. I'll still take the metals. In the meantime, life is good.
I knew it would happen.
Looking backward for 1000 days would give the turkey no clue to what was about to happen. Been there!
"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>
<< <i>
<< <i>
<< <i>Just ignore the paper trading on metals or it will drive you crazy. >>
That doesn't make any sense. That's like saying ignore the s&p when buying or selling stocks. The "paper trade" dictates the price of physical PM's and is adjusted accordingly. >>
My reasoning whether you agree or not is I have built a long term position at a lower price and plan to hold until I think the price is where it should be. PM's are not earnings driven so are not subject to failing to meet anylist's earnings expectations or the books being cooked like the Enron debacle. Some analyst's have speculated that at some point in the future there will be a price disconnect between paper and physical gold & silver prices and I agree with this hypothetical situation as more and more fiat money enters the system.
Another thing to consider is record keeping and tax consequences of repeated sales eating into your trading profits. Then there is the possible problem of a shortage of physical silver when you want to re-enter the market after selling your PM holdings.
It used to be that stocks were a long term investment but that idea seems to have faded into the past as many people turned to day trading. PM's are a different animal and for many years were a poor investment, considering what has been happening to our currency I would prefer to hold my stash of PM's until there is a parobolic blowoff top in the market. IMHO there has not been a parobolic blowoff top yet in PM's as there still is room for another wave or two to reach that price objective so I treat my stash of PM's as insurance against fiat currency. >>
So called "Fiat Currency" has been around for 80 years & I suspect it will be around for another 80 years. What are the odds of a blow off occurring within the next 10 years? If you feel that it is greater than 60%, a price disconnect may happen, but with what consequences in other areas? Your precious metal may just become another metal. I suppose I'm from the old school and it has worked for me very well over the last 50 years. Market timing...buy low & sell high. Stacking for something that may never happen in my life time is not my cup of tea. >>
Fiat currency has been around much longer than 80 years. Zimbabwe is just the latest and most extreme example of fiat currency gone wrong, Mexico has devalued the peso multiple times, There have been meltdowns in South America, the Wiemer Republic was one of the most famous meltdowns after WW1 debt reperations destroyed the purchasing power of their fiat currency and that was 90 years ago, Rome's currency was initially backed by gold and silver but they continued devaluing it over the centuries as the cost of expanding their empire and the bill to pay their ever growing military expansion throughout the world grew.
The United States currency was initially backed by gold and silver but has also taken a similiar path to Rome's currency over the centuries as our ever expanding military excursions throughout the world have grown more expensive over time. If you truly believe that our countries fiat currency has been such a tremedous store of value why does it buy so little (3 cents on the dollar) compared to what it did when the federal reserve originated 100 years ago???
Looking backward for 1000 days would give the turkey no clue to what was about to happen. Been there!
Thanks, razzle. That's the exact definition and the anecdote that I was trying to remember from Taleb's book, "The Black Swan". Our worldwide monetary system is fragile, and is more fragile as time goes on.
I knew it would happen.
<< <i>jmski, you are welcome, glad you brought it up. I like the analogy, too, especially regarding investments. >>
Made me hungry.
Knowledge is the enemy of fear