Current silver drop: When is everyone pulling the trigger?

RMLTM79 · February 22, 2013 12:51PM

I'm waiting for $25. Whatchyall thinkin?

Pokermandude · February 22, 2013 1:00PM

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?

nibanny · February 22, 2013 1:14PM

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.

RedneckHB · February 22, 2013 4:34PM

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

PerryHall · February 22, 2013 7:45PM

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.

sebrown · February 22, 2013 9:01PM

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!

1jester · February 22, 2013 9:32PM

<< 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?

ricko · February 22, 2013 9:54PM

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 (

a lot ). Cheers, RickO

DrBuster · February 22, 2013 10:14PM

Same purchase amount when I buy. Would consider some gold outside of the norm if the premiums drop.

piecesofme · February 23, 2013 12:34AM

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.

Weiss · February 23, 2013 2:19AM

Bought a 10 ounce bar last week. First 10 ounce bar I've purchased in almost 2 years.

sebrown · February 23, 2013 2:28AM

And it's a pretty one! Looks fresh as the day it was packaged!

derryb · February 23, 2013 2:52AM

very soon. Dumped all the leveraged paper shorts Thursday.

mhammerman · February 23, 2013 2:58AM

"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."

RedneckHB · February 23, 2013 5:16AM

<< 

<< 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?

>>

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.

Steve27 · February 23, 2013 5:31AM

I would like to buy 20-40 ounces of silver tomorrow; however, I expect the coin dealers won't be selling.

VanHalen · February 23, 2013 5:33AM

<< 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.

derryb · February 23, 2013 6:08AM

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.

HonoluluDude · February 23, 2013 10:15AM

Bought some Kooks on Wed. Will add more if paper price erodes further.

57loaded · February 23, 2013 10:54AM

If I have firing pin, then $21.

I don't have a truck to back up.

Zrider · February 23, 2013 2:53PM

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

carew4me · February 23, 2013 11:34PM

<< 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?

mikeyg · February 24, 2013 1:44PM

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.

Zrider · February 25, 2013 12:00AM

34.1

Zrider · February 25, 2013 12:03AM

<< 

<< 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

derryb · February 25, 2013 12:04AM

pulled

ksammut · February 25, 2013 2:22AM

Added more over the weekend.

Timbuk3 · February 25, 2013 7:29AM

Not yet. May still have room
on the downside !!!

OPA · February 25, 2013 9:07AM

<< 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.

derryb · February 25, 2013 10:31AM

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.

piecesofme · February 25, 2013 10:36AM

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

as the powder burned in my pocket.

razzle · February 25, 2013 10:38AM

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."

cucamongacoin · February 25, 2013 1:19PM

Bought 100 2013 ASE this AM @ $31.64 per, sold several rolls yesterday @ $690

RedneckHB · February 25, 2013 2:50PM

recent downtrend not much different from 2008 decline

Actually, not much the same.

derryb · February 25, 2013 3:51PM

<< 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:

RedneckHB · February 25, 2013 4:34PM

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.

derryb · February 26, 2013 12:49AM

<< 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.

jmski52 · February 26, 2013 1:24AM

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.

Now, all you gotta do is hope you're right.

derryb · February 26, 2013 1:28AM

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.

Baley · February 26, 2013 1:31AM

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

Current silver drop: When is everyone pulling the trigger?

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