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PM and DOW tanking

mrpaseomrpaseo Posts: 4,753 ✭✭✭
in Precious Metals
Gold down 48+ in one day (I know the market is still open). Is that some sort of record? What's. A bad down day fir gold?

Comments

  • BanemorthBanemorth Posts: 986 ✭✭✭
    I can only hope it gets worse. I've been sitting on the sidelines since $30 silver. I said I'd buy 100 ounces at $25 silver but then it dropped right to $23 and I said I'd buy 100 ounces as soon as it dipped below $20. I made sure I stuck to my guns this time. Bought 110 ounces from Goldmart when silver was sitting at $19.95. Only $1.09 premium on the Year of the Snake bars. If it goes lower I'll buy more. image
    Justin From Jersey

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  • bluelobsterbluelobster Posts: 1,220 ✭✭✭


    << <i>Gold down 48+ in one day (I know the market is still open). Is that some sort of record? What's. A bad down day fir gold? >>



    I wouldn't call the Dow tanking down a little over one percent, but it's early image Gold lost $125 just back in April, which was about 9% in one day, which was an extreme case.


  • mrpaseomrpaseo Posts: 4,753 ✭✭✭


    << <i>

    << <i>Gold down 48+ in one day (I know the market is still open). Is that some sort of record? What's. A bad down day fir gold? >>



    I wouldn't call the Dow tanking down a little over one percent, but it's early image Gold lost $125 just back in April, which was about 9% in one day, which was an extreme case. >>



    The Dow is currently down over 400 points over the past 48 hours, looks like it's gonna be one of those weeks that you read about in history books.

    Gold down $55 right now (just adding that so when we look back at this thread image )
  • Coins101Coins101 Posts: 2,602 ✭✭✭


    << <i>I can only hope it gets worse. I've been sitting on the sidelines since $30 silver. I said I'd buy 100 ounces at $25 silver but then it dropped right to $23 and I said I'd buy 100 ounces as soon as it dipped below $20. I made sure I stuck to my guns this time. Bought 110 ounces from Goldmart when silver was sitting at $19.95. Only $1.09 premium on the Year of the Snake bars. If it goes lower I'll buy more. image >>



    So, did you buy a 100oz considering it dropped below $20?
  • JulioJulio Posts: 2,501 ✭
    Hmmmm, interesting. I'm not buying; Yet.
    image
  • BanemorthBanemorth Posts: 986 ✭✭✭


    << <i>

    << <i>I can only hope it gets worse. I've been sitting on the sidelines since $30 silver. I said I'd buy 100 ounces at $25 silver but then it dropped right to $23 and I said I'd buy 100 ounces as soon as it dipped below $20. I made sure I stuck to my guns this time. Bought 110 ounces from Goldmart when silver was sitting at $19.95. Only $1.09 premium on the Year of the Snake bars. If it goes lower I'll buy more. image >>



    So, did you buy a 100oz considering it dropped below $20? >>



    I said I did silly! "I made sure I stuck to my guns this time. Bought 110 ounces from Goldmart when silver was sitting at $19.95. Only $1.09 premium on the Year of the Snake bars. If it goes lower I'll buy more. image"

    Already 110 ounces purchased today and if it drops around $19.50 or lower I'll be buying more.
    Justin From Jersey

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  • mrpaseomrpaseo Posts: 4,753 ✭✭✭
    No disposable money at the moment. That's good and bad (so far good), I have no money to buy more silver but I have not had any to buy as it keeps skidding lower.

    This is exciting though.
  • BanemorthBanemorth Posts: 986 ✭✭✭


    << <i>No disposable money at the moment. That's good and bad (so far good), I have no money to buy more silver but I have not had any to buy as it keeps skidding lower.

    This is exciting though. >>



    I'll let you live vicariously through me! image
    Justin From Jersey

    Successful Transactions With: JoeLewis, Mkman123, Harry779, Grote15, gdavis70, Kryptonitecomics
  • BanemorthBanemorth Posts: 986 ✭✭✭
    I'm picking up 10-20 of the Freedom Girl Rounds if we see another little dip.

    Text
    Justin From Jersey

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  • mrpaseomrpaseo Posts: 4,753 ✭✭✭


    << <i>

    << <i>No disposable money at the moment. That's good and bad (so far good), I have no money to buy more silver but I have not had any to buy as it keeps skidding lower.

    This is exciting though. >>



    I'll let you live vicariously through me! image >>



    I appreciate it, you know I often worry that my comments upset my fellow forumites as I know the fluctuating market causes more stress in some people than others. I am in the position to appreciate both the ups and downs so I get a bit excited whichever way it goes.

    Thanks for sharing.
  • BanemorthBanemorth Posts: 986 ✭✭✭


    << <i>

    << <i>

    << <i>No disposable money at the moment. That's good and bad (so far good), I have no money to buy more silver but I have not had any to buy as it keeps skidding lower.

    This is exciting though. >>



    I'll let you live vicariously through me! image >>



    I appreciate it, you know I often worry that my comments upset my fellow forumites as I know the fluctuating market causes more stress in some people than others. I am in the position to appreciate both the ups and downs so I get a bit excited whichever way it goes.

    Thanks for sharing. >>



    Yeah some people are sticks in the mud! Nothing better to talk about lately so why not?!
    Justin From Jersey

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  • mrpaseomrpaseo Posts: 4,753 ✭✭✭


    << <i>I'm picking up 10-20 of the Freedom Girl Rounds if we see another little dip.

    Text >>



    I managed to pick up only one of these (Paid $40 for it). I would like to get my hands on at least 10 more at some point.

  • guitarwesguitarwes Posts: 9,266 ✭✭✭


    << <i>

    << <i>I'm picking up 10-20 of the Freedom Girl Rounds if we see another little dip.

    Text >>



    I managed to pick up only one of these (Paid $40 for it). I would like to get my hands on at least 10 more at some point. >>



    Sorry MrPaseo...... image Didn't know the bottom was gonna fall out + the hype of the Freedom Girl rounds was still buzzing mighty heavily. You should be able to average down a good bit with a roll or 2.
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  • mrpaseomrpaseo Posts: 4,753 ✭✭✭
    There are current at least 4 markets down over 2% each, I wonder who will be the biggest loser of the day.
  • AnkurJAnkurJ Posts: 11,370 ✭✭✭✭
    Too scary to buy. Who knows how low it can go? And I see no major bounce back coming.
    All coins kept in bank vaults.
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  • mrpaseomrpaseo Posts: 4,753 ✭✭✭


    << <i>

    << <i>

    << <i>I'm picking up 10-20 of the Freedom Girl Rounds if we see another little dip.

    Text >>



    I managed to pick up only one of these (Paid $40 for it). I would like to get my hands on at least 10 more at some point. >>



    Sorry MrPaseo...... image Didn't know the bottom was gonna fall out + the hype of the Freedom Girl rounds was still buzzing mighty heavily. You should be able to average down a good bit with a roll or 2. >>



    Oh no worries at all brother, remember you quoted me less than what I actually paid (Thanks again for the Merc).

    To me it was a good deal, the round is beautiful.
  • BanemorthBanemorth Posts: 986 ✭✭✭


    << <i>Too scary to buy. Who knows how low it can go? And I see no major bounce back coming. >>



    Not sure why it's too scary to buy. Say it DOES drop to $10 an ounce. I don't plan to sell for a long, long time. I'll just keep stacking. I'm 26 what do I have to lose? Just put it away in the safe. I'd much rather buy now and have it drop than NOT buy and have it jump.
    Justin From Jersey

    Successful Transactions With: JoeLewis, Mkman123, Harry779, Grote15, gdavis70, Kryptonitecomics
  • mrpaseomrpaseo Posts: 4,753 ✭✭✭


    << <i>

    << <i>Too scary to buy. Who knows how low it can go? And I see no major bounce back coming. >>



    Not sure why it's too scary to buy. Say it DOES drop to $10 an ounce. I don't plan to sell for a long, long time. I'll just keep stacking. I'm 26 what do I have to lose? Just put it away in the safe. I'd much rather buy now and have it drop than NOT buy and have it jump. >>



    I wish I knew about PMs when I was 26... I would be in south of$10.


    Had I purchased when I joined the Army I would be in at sub $6....

    I waited to get in at the $30+ level image

    I'm not butt hurt about it, it's only a small % of my portfolio, add in the baseball cards, beanie babies, MTG cards, comic books and precious moments and I'm set for life.... that is if I keep working for my entire life...lol

    I'm unemployed by the way image
  • BanemorthBanemorth Posts: 986 ✭✭✭
    Swap Baseball cards with Football cards and we have all of the same collectables! I'm sure you've got plenty more than me though!
    Justin From Jersey

    Successful Transactions With: JoeLewis, Mkman123, Harry779, Grote15, gdavis70, Kryptonitecomics
  • bestmrbestmr Posts: 1,778 ✭✭✭
    Oh wow. Beanie babies....my mom bought a bunch! Then of corse the market fell out and she's left with them all. She gives them to local hospitals for the kids to enjoy so it's all good in a round about way.
    Positive dealing with oilstates2003, rkfish, Scrapman1077, Weather11am, Guitarwes, Twosides2acoin, Hendrixkat, Sevensteps, CarlWohlforth, DLBack, zug, wildjag, tetradrachm, tydye, NotSure, AgBlox, Seemyauction, Stopmotion, Zubie, Fivecents, Musky1011, Bstat1020, Gsa1fan several times, and Mkman123 LOTS of times
  • mrpaseomrpaseo Posts: 4,753 ✭✭✭
    Well, we were getting them pretty cheap in Germany, then my mother in law started sending us boxes of them....

    Anyone want to tell how many they have?

    image
  • mrpaseomrpaseo Posts: 4,753 ✭✭✭
    I have to add, we gave away in excess of 10 large garbage bags of stuffed animals... my daughter is spoiled.
  • bestmrbestmr Posts: 1,778 ✭✭✭
    Idk how many she had. Before she started giving them away, she had totes and yard waste bags full of them. Silly what people do with money. But she enjoyed collecting them so that's something to be said.
    Positive dealing with oilstates2003, rkfish, Scrapman1077, Weather11am, Guitarwes, Twosides2acoin, Hendrixkat, Sevensteps, CarlWohlforth, DLBack, zug, wildjag, tetradrachm, tydye, NotSure, AgBlox, Seemyauction, Stopmotion, Zubie, Fivecents, Musky1011, Bstat1020, Gsa1fan several times, and Mkman123 LOTS of times
  • mrpaseomrpaseo Posts: 4,753 ✭✭✭
    Last count (Years ago) I believe we were sitting on about 1,000 beanie babies....

    I had to tell my in-laws to stop sending them because we could not store them anymore...lol

  • morgansforevermorgansforever Posts: 8,461 ✭✭✭✭✭
    Is there one definitive financial signal, that will alert us to pull out of the system and bug out?
    World coins FSHO Hundreds of successful BST transactions U.S. coins FSHO
  • AmigoAmigo Posts: 966 ✭

    It's been a crazy pm market the last 6 mths or so.

    I'm buried in about 5000 ozt silver, deep deep deep in the red. It's so low now that it's past the point of me considering about selling. I'll just hold it for another 30 yrs, lol I have pounds of gold that I've had since 260 era, might sell some of it. Mostly I'll keep as an insurance policy.

    IMHO the stock market and pm herd are all reacting to a feel good fantasy about the us and world economy. There are so many huge problems with the fundamentals of our economy that it is just plain psycho what is happening to this feel good market. I still feel very strongly that this country is in huge financial trouble from wall st to main st.

    That said, I see nothing turning the pm slide around short term. If I had disposable cash right now, certainly would not be buying PM's since I see them going lower from this point.

  • OperationButterOperationButter Posts: 1,672 ✭✭✭
    Im grabbing a few oz of silver as I like to buy on big down days. Not backing up the truck tho.

    I hope they take this to sub $10 and prove to everyone that the bull mkt is over, then ill back up the truck image
    Gold is for savings. Fiat is for transactions.



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  • SkyManSkyMan Posts: 9,493 ✭✭✭✭✭


    << <i>The Dow is currently down over 400 points over the past 48 hours, looks like it's gonna be one of those weeks that you read about in history books.

    Gold down $55 right now (just adding that so when we look back at this thread image ) >>



    Even if the Dow drops 1,000 points over a one week span, in the grand scheme of things that's only a ~ 6.5% pullback. Standard pullbacks are often in the 10% range, so this two day drop is minimal. FWIW, today alone gold has lost ~ 5% (~ $65) of it's value.
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  • ARCOARCO Posts: 4,396 ✭✭✭✭✭


    << <i>

    << <i>Too scary to buy. Who knows how low it can go? And I see no major bounce back coming. >>



    Not sure why it's too scary to buy. Say it DOES drop to $10 an ounce. I don't plan to sell for a long, long time. I'll just keep stacking. I'm 26 what do I have to lose? Just put it away in the safe. I'd much rather buy now and have it drop than NOT buy and have it jump. >>


    Why not wait until prices are at $10 and just buy double the amount you would buy today. Is having less better than more? image
  • bluelobsterbluelobster Posts: 1,220 ✭✭✭
    I did say it was early, earlier :0.

    Now we have a asset wide sell, er, tanking, except for some currencies today.
    Some good opportunities will show themselves soon, imo.
  • OPAOPA Posts: 17,121 ✭✭✭✭✭


    << <i>Im grabbing a few oz of silver as I like to buy on big down days. Not backing up the truck tho.

    I hope they take this to sub $10 and prove to everyone that the bull mkt is over, then ill back up the truck image >>



    In case you haven't noticed or perhaps you've been living in a "glass cage", the bull market ended 2 years ago.image
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
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