Shine on you crazy silver....

I hope we’re still a ways from too much hype. Last time all the talk was $50 dollars $50 dollars, and $45 was the place to sell.

I’ll be selling when the general public tries to get in on the game. It will be in the news and with fresh meat coming here to post.

We’ll see.

Here is what is funny locally, Two weeks ago, silver was coming in by the truck load, hundreds and hundreds of oz. I couldn't give it away. Even selling at spot and offering it at 50c-1.00 less than spot on Hundred oz. I had to ship constantly. price was 26-27. Now, take thru/fri price increase to 31.50. Man I got people calling every hour wanting to buy and get in on the action. Now, nobody selling any to the shop to give me the silver I need to fil orders.

I might add, had a few customers who sold week or two ago, call up upset because they sold too early. Like I have control over that.

7 am in hk now.

9 in sydney, but that may be a major produce it's not a major market

monday is just getting started

@tincup said:
Don't know where crazy silver will go from here. But... reminds me of the song

" The future's so bright, I gotta wear shades " That's what many of us want to think, but of course any rises in the metals are merely a reflection of the financial and social problems that are being faced by everyone. But I do like the song and the video!

https://youtube.com/watch?v=8qrriKcwvlY

Reminds me of the movie Groundhog Day. Don't forget to sell this time. LOL. RGDS!

For silver to reach the same relative valuation at its peak in 2011 vs sp500 it would need to rise to about $200.

Comparing peak to peak implies something, but it may not be very meaningful to people who hold physical silver.

Virtually nobody buys or sells at the apex of a price spike.

I’d be more interested in the average price and the trend line.

@pmbug said:
I might be crazy...

https://www.pmbug.com/threads/silver-might-10x-within-the-next-3-years.7455/

Maybe not crazy, just hopelessly optimistic!

If I live another 20 years seeing $100 silver is likely.

Hilltower Resource Advisors CEO and chief market strategist Tracy Shuchart was on Charles Payne's show yesterday and suggested that silver could be $50 -$60 in the coming years. She said the World Silver Institute is reporting that this year there will be a 265-million-ton deficit which is 2X what it was last year.

You can find the interview at, https://www.foxbusiness.com/shows/making-money-with-charles-payne.

RATIO

@Ppp said:

This past weekend I was at a local coin show in wny and it appeared that nobody was buying silver bullion. At that time silver spot was about $31.50 and the dealers were at $34- and some dropped to $33- for one ounce rounds and bars. I couldn’t believe some people offered me $280- for a ten ounce bar. Unbelievable.

Last week before the show I have seen more people selling, because they need money, than buying.

This is a totally different take on where silver prices maybe going but based on my regional observation, the retail public has not reached the fomo mindset, therefore this alone tells me that the silver bulls have a lot of room to run.

Or perhaps it just confirms that nobody wants the barbaric gutter metal? RGDS!

@blitzdude said:

@Ppp said:

This past weekend I was at a local coin show in wny and it appeared that nobody was buying silver bullion. At that time silver spot was about $31.50 and the dealers were at $34- and some dropped to $33- for one ounce rounds and bars. I couldn’t believe some people offered me $280- for a ten ounce bar. Unbelievable.

Last week before the show I have seen more people selling, because they need money, than buying.

This is a totally different take on where silver prices maybe going but based on my regional observation, the retail public has not reached the fomo mindset, therefore this alone tells me that the silver bulls have a lot of room to run.

Or perhaps it just confirms that nobody wants the barbaric gutter metal? RGDS!

or that they think we are at a "temporary" high and will wait (hope) for lower prices.

@derryb said:

@cohodk said:

@jmski52 said:
Comparing peak to peak implies something, but it may not be very meaningful to people who hold physical silver.

Virtually nobody buys or sells at the apex of a price spike.

I’d be more interested in the average price and the trend line.

I like to compare extremes as it can set boundaries. The extremes caused by fear and apathy, elation and exuberance. Trend and average can be useful also, but are slow to react.

I notice you used the "fear" word but not the "greed" word. LOL

Yup....folk's fear is a fantastic tool while greed is useless.

You held too long......again! RGDS!

Why would I sell, when I’m about to buy more?

@blitzdude said:

@jmski52 said:
You held too long......again! RGDS!

Why would I sell, when I’m about to buy more?

Well, you certainly have been known to overpay. To each their own I guess. GD LCK!

Hurry up Jim, could be your last chance to buy over $30 again. RGDS!

lol Blitz, I still can't quite characterize your schizoid approach to silver. The short & long of it - silver is more volatile than gold, and its price to gold ratio is out of sync historically. Silver is underpriced, whether or not it's above or below $30. Doesn't matter

I'll let you know when I decide to buy silver, for sure. Strategically, I decided to wait and overpay for a nice PR-70 DCAM Gold Buffalo when they come out. I'm also waiting to see if the Mint is going to make any Unc Plats this year, so more silver may have to wait a bit. I'm definitely tempted right now, based on the continued crappy economic and inflation news.

I sold 100oz's a few days ago at $32. By my records, I was into it on average $17 per. I figured I'd sit on the cash, buy it back down the road once it settles back down. It's really the first time I've ever done that with the sole intention of waiting for another correction. I'm thinking after November elections, probably the first of next year.
I may be wrong, I may not... Maybe this is the new floor? But I made the choice this time to do something and I'm cool with it.

Look around, things be BOOMIN!

Yup, I'm sure things are boomin' around DC with tons of newly-created and taxpayer money splashing all over the place.

If it's so great, why are you raising chickens, storing lots of beans and living outside the city?

@jmski52 said:
Look around, things be BOOMIN!

Yup, I'm sure things are boomin' around DC with tons of newly-created and taxpayer money splashing all over the place.

If it's so great, why are you raising chickens, storing lots of beans and living outside the city?

Because I want to live free in gods country my brother. Just as generations of fellow patriots have done before me. Being a city chicken aint for me. RGDS!

Silver has strong resistance at around $31.25. If it can break above that after the Fed meeting tomorrow, it could have another strong run. A following break above $32 (which would be a ten-year high) will get more people involved. However, if it can't get above $31.25 range after the interest rate decision, could be headed down again for a while.

@Goldminers said:
It just hit the resistance at 31.20 range that I mentioned after the half point cut. This is a level to watch closely. I expect profit taking for a while. Sold my SLV.

Now $31.0

and now $30.25. You really have to be quick. Buy the rumor, sell the news.

The gutter no like it. Groundhog day yet again. RGDS!

Probably dumping the SLV this AM. THKS!