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Current silver drop: When is everyone pulling the trigger?

RMLTM79RMLTM79 Posts: 549 ✭✭✭
in Precious Metals
I'm waiting for $25. Whatchyall thinkin?

Comments

  • PokermandudePokermandude Posts: 2,713 ✭✭✭
    I was thinking about starting a thread like this.

    My target a month or two ago was $28.50. But I'm still holding off until I see at least some upward motion before pulling the trigger. I can't see silver bottoming out lower than $27 (the summer low), but who knows?
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  • nibannynibanny Posts: 2,761 ✭
    I added few ounces this week while I was purchasing some gold, mainly Silver bars.
    I will load more when I can find Eagles under $30 shipped.
    The member formerly known as Ciccio / Posts: 1453 / Joined: Apr 2009
  • cohodkcohodk Posts: 19,244 ✭✭✭✭✭
    Was thinking 20, but might push into high teens as they try to grab the stops.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • PerryHallPerryHall Posts: 46,291 ✭✭✭✭✭
    I just bought some silver bars. I never had any luck predicting the bottom of the market but it doesn't really matter since I'm holding for the long term. I don't see the US government getting its financial house in order any time soon so I fully expect PM's to trend upward.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
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  • sebrownsebrown Posts: 424 ✭✭
    I'm not going "all-in" but I've added to the silver pile the last couple of days and probably will add a little more through the weekend. I'm not looking to flip in a week or month though so I'm taking advantage of these "sale" prices!

    edited to add: I've also purchased some call options in the junior miners. Just a few! image
    "In the absence of the gold standard, there is no way to protect savings from confiscation through inflation [...] Gold stands in the way of this insidious process. It stands as a protector of property rights." - Alan Greenspan
  • 1jester1jester Posts: 8,637 ✭✭✭


    << <i>Was thinking 20, but might push into high teens as they try to grab the stops. >>



    Do you really believe it will go down into the teens, or is someone paying you to say this?

    imageimageimage
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    image

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  • rickoricko Posts: 98,724 ✭✭✭✭✭
    I strongly doubt a dip to $20 or below...the economic picture does not justify that. Just a temporary dip and then another rise. I have been wrong before ( image a lot ). Cheers, RickO
  • DrBusterDrBuster Posts: 5,414 ✭✭✭✭✭
    Same purchase amount when I buy. Would consider some gold outside of the norm if the premiums drop.
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    Just purchased some old pour bullhorn 5 oz Engs and I paid for them as if Spot was still in the low-mid $30's if that tells you anything.
    It's getting to the point, when you come across them and the seller is asking a fairly reasonable price (assuming this is what you're collecting) you better just pony up.
    I'm really not adding anything else other than them unless it's one of those gotta-have-it bars.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • WeissWeiss Posts: 9,941 ✭✭✭✭✭
    Bought a 10 ounce bar last week. First 10 ounce bar I've purchased in almost 2 years.

    image

    image

    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • sebrownsebrown Posts: 424 ✭✭
    And it's a pretty one! Looks fresh as the day it was packaged! image
    "In the absence of the gold standard, there is no way to protect savings from confiscation through inflation [...] Gold stands in the way of this insidious process. It stands as a protector of property rights." - Alan Greenspan
  • derrybderryb Posts: 37,024 ✭✭✭✭✭
    very soon. Dumped all the leveraged paper shorts Thursday.

    Exit bunker, enter Matrix. LOL

  • mhammermanmhammerman Posts: 3,769 ✭✭✭
    "When is everyone pulling the trigger?"

    Buying small amounts as it continues to fall. When it looks like it is high, I'm thinking $40ish, then move it into something else. Wait for the next cycle; lather, rinse, repeat. Realize that sometimes cycles last for years so you might be buying over time and stashing. When it gets high, start bleeding it off like you acquired it...slowly. Never like to buy a load and wait and then reposition a load all at once, just too much room for bad decisions and also a great opportunity for fear to grip your brain. This way, there's never any pain and that reminds me of the reason George Carlin gives for not exercising..."No pain, hey, no pain."
  • cohodkcohodk Posts: 19,244 ✭✭✭✭✭


    << <i>

    << <i>Was thinking 20, but might push into high teens as they try to grab the stops. >>



    Do you really believe it will go down into the teens, or is someone paying you to say this?

    imageimageimage >>




    LOL. Yeah, I wish. Sorry, im just a free thinker. My thoughts and ideas are not influenced by newsletters, mass media, or even my buddies in the industry. I do my own research taking into account all current and expected information including investor psychology.

    At $20, silver is still up 400% in the last 10 years. Thats purdy darn good. And while I agree with everyone that the US financial house is in jeopardy, I am also a value investor, and on a relative basis, silver at $30 is not cheap compared to other assets. At $20 it becomes much more a value and is back to being affordable for J6P.

    From a technical viewpoint, a break of $25 will be devastating, probably taking silver to $20 within days.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • Steve27Steve27 Posts: 13,274 ✭✭✭
    I would like to buy 20-40 ounces of silver tomorrow; however, I expect the coin dealers won't be selling.
    "It's far easier to fight for principles, than to live up to them." Adlai Stevenson
  • VanHalenVanHalen Posts: 4,068 ✭✭✭✭✭


    << <i>I'm waiting for $25. Whatchyall thinkin? >>



    I believe will see $25 in the near term (6 months). If it does drop to $25, I would hold off until $23-$24 hoping it falls that far.
  • derrybderryb Posts: 37,024 ✭✭✭✭✭
    We will only see $25 silver if the FOMC decides to let the dollar strengthen much more against the euro. Their desire to protect American exports and jobs will prevent this. I believe we are at the high end (dollar index) of their acceptable range.

    Exit bunker, enter Matrix. LOL

  • HonoluluDudeHonoluluDude Posts: 2,167 ✭
    Bought some Kooks on Wed. Will add more if paper price erodes further.
  • 57loaded57loaded Posts: 4,967 ✭✭✭
    If I have firing pin, then $21.

    I don't have a truck to back up.
  • ZriderZrider Posts: 365
    Two 10 ozs bars and a roll of ASeagles. @ 28.6- if it drops some more .. gonna buy some more.
  • carew4mecarew4me Posts: 3,473 ✭✭✭✭


    << <i>Two 10 ozs bars and a roll of ASeagles. @ 28.6- if it drops some more .. gonna buy some more. >>



    How premium over spot did you pay on those Eagles?

    Loves me some shiny!
  • mikeygmikeyg Posts: 1,002 ✭





    Dont want to wait too long so I've bought four rolls of ASEs in the past 2 weeks.Still got powder left in case it drops a few more dollars.I was looking at ATB 5 ozs on ebay but most bullion ones are about $200,so maybe I'll get some tubes of maple leafs.
  • ZriderZrider Posts: 365
    34.1
  • ZriderZrider Posts: 365


    << <i>

    << <i>Two 10 ozs bars and a roll of ASeagles. @ 28.6- if it drops some more .. gonna buy some more. >>



    How premium over spot did you pay on those Eagles? >>

    28.6 - 34.1 what 5.5
  • derrybderryb Posts: 37,024 ✭✭✭✭✭
    pulled

    Exit bunker, enter Matrix. LOL

  • ksammutksammut Posts: 1,076 ✭✭✭
    Added more over the weekend.
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  • Timbuk3Timbuk3 Posts: 11,658 ✭✭✭✭✭
    Not yet. May still have room
    on the downside !!!
    Timbuk3
  • OPAOPA Posts: 17,126 ✭✭✭✭✭


    << <i>Not yet. May still have room
    on the downside !!! >>



    My gut feelings tell me your correct. We need at least a month or more of an upward trend to confirm the "Bear" has gone into hibernation. Silver Bear Market is approaching the 2 year mark since it approached the $49 mark back in 2011. It's been a slow & steady downward trend since.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • derrybderryb Posts: 37,024 ✭✭✭✭✭
    recent downtrend not much different from 2008 decline ($19 to $10) that recovered with 499% gain. Those that hung on when they shook that tree did not regret it.

    Exit bunker, enter Matrix. LOL

  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    Made the rounds today. Premiums are spreading from what Spot is. Guys wanted Spot + $2-3 for generic christmas bars because they say they are selling at that level. I said no thanks 5 times today image as the powder burned in my pocket.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • razzlerazzle Posts: 987 ✭✭✭
    It's difficult to imagine a scenario in which a buy below $30 doesn't come out a winner. Doesn't mean it can't happen though, "a market can remain irrational longer than an investor can remain solvent."
    Markets (governments) can remain irrational longer than an investor can remain solvent.
  • cucamongacoincucamongacoin Posts: 3,478 ✭✭✭
    Bought 100 2013 ASE this AM @ $31.64 per, sold several rolls yesterday @ $690
    <a target=new class=ftalternatingbarlinklarge href="http://www.ebay.com/sch/cucamo...?_ipg=50&_sop=12&_rdc="> MY EBAY
  • cohodkcohodk Posts: 19,244 ✭✭✭✭✭
    recent downtrend not much different from 2008 decline

    Actually, not much the same.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 37,024 ✭✭✭✭✭


    << <i>recent downtrend not much different from 2008 decline

    Actually, not much the same. >>


    Actually, similar. Since 2003 each pull back is stronger as is each resulting bounce back up to newer highs:

    image

    Exit bunker, enter Matrix. LOL

  • cohodkcohodk Posts: 19,244 ✭✭✭✭✭
    I'm not talking about charts. The entire mindset of metals is different, except among to 50 or do regulars on this board. Big money now has different ideas.

    But regarding the chart. Uptrends are uptrends until they aren't. This 2 ye nearly 50% decline is not at all similar to 2008, when ALL assets were declining.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 37,024 ✭✭✭✭✭


    << <i>Uptrends are uptrends until they aren't. >>


    As is the case with any chart.

    Pulled the remaining paper silver trigger this morning at 28.70, all in triple long. No guts, no glory. Bad call, no IRA.

    Exit bunker, enter Matrix. LOL

  • jmski52jmski52 Posts: 22,947 ✭✭✭✭✭
    Pulled the remaining paper silver trigger this morning at 28.70, all in triple long.

    I don't know that you could've timed it any better.image

    Now, all you gotta do is hope you're right.image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • derrybderryb Posts: 37,024 ✭✭✭✭✭
    If I dump it above 28.70 silver, how can I be wrong? Silver has some legs this morning, let's see if it holds.

    Exit bunker, enter Matrix. LOL

  • BaleyBaley Posts: 22,661 ✭✭✭✭✭
    I find all the metals fairly valued right about here, Au and PT 1600, Ag 30, Pd 730.

    I'll add significantly to bullion positions if 20% lower and lighten up at 20% higher, but at these prices, content to watch and learn

    Liberty: Parent of Science & Industry

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