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Perhaps A Major Buying Window....

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Pillar of the Community
Silverhawk74's Avatar
United States
3670 Posts
 Posted 09/26/2011  12:49 am Show Profile   Bookmark this topic Add Silverhawk74 to your friends list Get a Link to this Message Number of Subscribers
Well some serious support levels just crumbled, as silver has dropped another $1.78 right out of the gate Sunday night, falling below that all important mental 30 Mendoza line....

I got into silver about three weeks into 2011, and silver was 26 and some change the first time I ever did a search for its value....

I think 8 months later silver has shown its true volatility, as it is now just worth 3 bucks more over spot that when I first got started....

Gold has also fell below a key support level in my mind at 1650, down to around 1630, and I am guessing the rest of the market may take a similar dive again Monday, before eventually loosing momentum like a ball spinning on a rubber band, right before it starts back the other direction....

Man, I have been working on some nice new vintage lots (G.I. Joe in honor of you guessed it, and will turn that profit into silver) to sell on ebay a month or two before Christmas other than what I have listed, but I may have to move that plan into motion much sooner before the star gate closes....

If I did get a spare grand for example together in time, I couldn't then make up my mind to go after gold or silver....

However, with that being said with the bargain prices currently available for silver, I think one would be foolish to not give it hard thought(minus my favorite Joe troll of course) at these approaching basement prices....
Edited by Silverhawk74
09/26/2011 12:54 am
Valued Member
United States
302 Posts
 Posted 09/26/2011  06:59 am  Show Profile   Bookmark this reply Add mmerlinn to your friends list Get a Link to this Reply
Silver as I write is 58.4:1 with gold, far below the 35:1 just a few weeks ago. Because of the ratio, I will ONLY buy silver as it has more potential to rise faster than gold in the near term. If I had gold, I would even consider swapping it for silver.

Silver dipped to almost $26 in Hong Kong a few hours ago. Gold went to about $1540 at the same time, at 59.2:1 ratio to silver.
Edited by mmerlinn
09/26/2011 07:02 am
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